<SEC-DOCUMENT>0000814052-23-000035.txt : 20230223
<SEC-HEADER>0000814052-23-000035.hdr.sgml : 20230223
<ACCEPTANCE-DATETIME>20230223130158
ACCESSION NUMBER:		0000814052-23-000035
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		282
CONFORMED PERIOD OF REPORT:	20221231
FILED AS OF DATE:		20230223
DATE AS OF CHANGE:		20230223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELEFONICA S A
		CENTRAL INDEX KEY:			0000814052
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			U3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09531
		FILM NUMBER:		23658450

	BUSINESS ADDRESS:	
		STREET 1:		GRAN VIA 28
		CITY:			28013 MADRID
		STATE:			U3
		ZIP:			00000
		BUSINESS PHONE:		00 34 91 584 0640

	MAIL ADDRESS:	
		STREET 1:		GRAN VIA 28
		CITY:			28013 MADRID
		STATE:			U3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NATIONAL TELEPHONE COMPANY OF SPAIN
		DATE OF NAME CHANGE:	19880708
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>tef-20221231.htm
<DESCRIPTION>20-F
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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjM5_dc3d89f0-7de0-482c-837f-aaab14b9ce9c">Distrito Telef&#243;nica</ix:nonNumeric>, <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:EntityAddressAddressLine2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjQw_0d7b8271-54cf-432e-84ea-6c4fa4ad8a75">Ronda de la Comunicaci&#243;n</ix:nonNumeric>, <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:EntityAddressAddressLine3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjI5_e705d2a7-e14b-4613-95be-924ba903a179">s/n</ix:nonNumeric>, <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:EntityAddressPostalZipCode" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjUx_5ee16475-c429-418d-8452-54f61839d94b">28050</ix:nonNumeric> <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:EntityAddressCityOrTown" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjQ2_a3c7a14f-0fce-464f-8533-99dbaae7e4be">Madrid</ix:nonNumeric>, <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:EntityAddressCountry" format="ixt-sec:countrynameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjQ5_bb57733b-5392-4b9d-82ac-98b5a1d2a797">Spain</ix:nonNumeric></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tel. +34 <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:CityAreaCode" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjMz_86d4f21a-440a-402c-9b68-05032ed522d5">91</ix:nonNumeric> <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:LocalPhoneNumber" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjM2_0d5273bb-86f2-4de1-a6d3-b7db18f22434">482 8700</ix:nonNumeric>, Fax. <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:ContactPersonnelFaxNumber" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjQx_e6d4f6eb-e094-4c84-abff-7eed6fafe40c">+34 91 482 8600</ix:nonNumeric>, e-mail: <ix:nonNumeric contextRef="i6e756736230b416fabc75dac7904545e_D20220101-20221231" name="dei:ContactPersonnelEmailAddress" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM180MjUw_5aa9d317-2e37-4d5a-811f-0b88c15b7335">ir@telefonica.com</ix:nonNumeric></span></div><div style="margin-bottom:3pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)</span></div><div style="margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">____________________________________</span></div><div style="height:4.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:31.5pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:3pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered or to be registered pursuant to Section 12(b) of the Act:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.338%"><tr><td style="width:1.0%"></td><td style="width:59.889%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.981%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.830%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Title of each class</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Trading Symbols</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Name of each exchange on which registered</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i6cd2931d7f1a4dedac00037631df1972_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8xLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjY0ODljYzk0NDhkNjQ0OTM4ZTRhYjE1ZjcxNjIxYmU1XzQ_c3c6cf9c-a397-4e08-b02c-0c797819f57e">Ordinary Shares, nominal value 1.00 euro per share</ix:nonNumeric>*</span></div><div style="text-align:center"><span><br/></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TEF*</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i6cd2931d7f1a4dedac00037631df1972_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8xLTItMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjVlOGY4NThkMjBjMzQ1MDk5ZTZjYTUyNGYxZjFiNzViXzQ_741fdf97-4859-4c9e-b750-7df317132b1c">New York Stock Exchange</ix:nonNumeric>*</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i3b0c4490e3074561842f6c4543213b18_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8yLTAtMS0xLTUxMDQ0Mg_ea90278f-47cd-472a-b791-e9c400b2a0f4">American Depositary Shares, each representing one<br/>Ordinary Share</ix:nonNumeric><br/></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i3b0c4490e3074561842f6c4543213b18_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8yLTEtMS0xLTUxMDQ0Mg_61c55cf2-fc06-4249-b933-1b166cbd2558">TEF</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i3b0c4490e3074561842f6c4543213b18_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8yLTItMS0xLTUxMDQ0Mg_cf37b19a-9593-4e82-bc1e-90fb6cf22c06">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Guarantee ** by Telef&#243;nica, S.A. of the following, each of Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia9f632523678429bbe64b729bb2fb91c_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV80LTAtMS0xLTUxMDQ0Mg_29fc0c45-3ad6-405e-831d-86778fb5ed0e">$1,500,000,000 Fixed Rate Senior Notes Due 2027</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ia9f632523678429bbe64b729bb2fb91c_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV80LTEtMS0xLTUxMDQ0Mg_f1c9fb14-43c0-4874-8d07-b5ce09dfad69">TEF/27</ix:nonNumeric> </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ia9f632523678429bbe64b729bb2fb91c_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV80LTItMS0xLTUxMDQ0Mg_30312ff4-3ab7-41fc-bf88-f291b1f4fe80">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i5dc8cc44630f4fb2bad0979a72c3ab16_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV81LTAtMS0xLTUxMDQ0Mg_99529759-553d-4b3d-b6c4-f09f217db18b">$2,000,000,000 Fixed Rate Guaranteed Senior Notes Due 2036</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i5dc8cc44630f4fb2bad0979a72c3ab16_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV81LTEtMS0xLTUxMDQ0Mg_635db870-368e-4e75-95c1-17a1e3020133">TEF/36</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i5dc8cc44630f4fb2bad0979a72c3ab16_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV81LTItMS0xLTUxMDQ0Mg_eda87df2-3fe4-43f2-ba74-237f26e17b29">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="icc5f3da8112e4db5944ff03d749821ac_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV82LTAtMS0xLTUxMDQ0Mg_c583c638-9f81-45bc-8f99-73ed4e15bd04">$750,000,000 Fixed Rate Senior Notes Due 2038</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="icc5f3da8112e4db5944ff03d749821ac_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV82LTEtMS0xLTUxMDQ0Mg_b137f768-efe0-4d78-8761-ea7bff866a24">TEF/38</ix:nonNumeric> </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="icc5f3da8112e4db5944ff03d749821ac_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV82LTItMS0xLTUxMDQ0Mg_d000d686-ace3-4652-b251-de8339d5c160">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i4e5d887df4ad497790786233ae3f479b_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV83LTAtMS0xLTUxMDQ0Mg_3b2fda77-8747-45e1-a3d6-1dd3b7820e0b">$2,500,000,000 Fixed Rate Senior Notes Due 2047</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i4e5d887df4ad497790786233ae3f479b_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV83LTEtMS0xLTUxMDQ0Mg_1325bfc8-cf7a-4e61-8792-98b888d0f5ea">TEF/47</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i4e5d887df4ad497790786233ae3f479b_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV83LTItMS0xLTUxMDQ0Mg_777bf4f9-61c3-45c7-8fe8-7611a2044ed0">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="iec74ab0121fa4316adbf52d4bdce9d01_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV84LTAtMS0xLTUxMDQ0Mg_32cb9be8-43a3-468c-a0a8-b9b2f5afc260">$1,250,000,000 Fixed Rate Senior Notes Due 2048</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="iec74ab0121fa4316adbf52d4bdce9d01_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV84LTEtMS0xLTUxMDQ0Mg_abc2500a-059b-4314-aede-d42924790f29">TEF/48</ix:nonNumeric> </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="iec74ab0121fa4316adbf52d4bdce9d01_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV84LTItMS0xLTUxMDQ0Mg_07e36d8d-e512-4be0-85d8-61c7e4c3bb50">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia21abb029e594a10b63de19e69ee9c6d_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV85LTAtMS0xLTUxMDQ0Mg_fa590818-1b0d-4834-ab84-6c3a9334fb67">$1,250,000,000 Fixed Rate Senior Notes Due 2049</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ia21abb029e594a10b63de19e69ee9c6d_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV85LTEtMS0xLTUxMDQ0Mg_eba39b66-844a-44da-b0c1-51f4bb55bdd3">TEF/49</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ia21abb029e594a10b63de19e69ee9c6d_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV85LTItMS0xLTUxMDQ0Mg_090ca8bd-600d-4ed3-9a1b-423a836f622b">New York Stock Exchange</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;Guarantee ** by Telef&#243;nica, S.A. of the following, each of Telef&#243;nica Europe B.V.</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i7c89bc5ee8604c23ba14925eebd51456_D20220101-20221231" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8xMS0wLTEtMS01MTA0NDI_87a494f0-d8eb-445d-9953-9341a8fd882a">$1,250,000,000 Fixed Rate Guaranteed Senior Notes Due 2030</ix:nonNumeric></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7c89bc5ee8604c23ba14925eebd51456_D20220101-20221231" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8xMS0xLTEtMS01MTA0NDI_15a3d05c-4a23-4df3-8944-b047c760db52">TEF/30</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i7c89bc5ee8604c23ba14925eebd51456_D20220101-20221231" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MWE1OTMyMzlkYjlhNGM4M2JmMjUxMTU3MmU1MDMyYTkvdGFibGVyYW5nZToxYTU5MzIzOWRiOWE0YzgzYmYyNTExNTcyZTUwMzJhOV8xMS0yLTEtMS01MTA0NDI_ca92ea5b-7b74-4134-b9f1-e2ecf37e795d">New York Stock Exchange</ix:nonNumeric><br/></span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:1.547%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:97.153%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">*</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not for trading, but only in connection with the listing of American Depositary Shares, pursuant to the requirements of the New York Stock Exchange.</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.353%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:96.347%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">**</span></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Not for trading, but only in connection with the listing of the $1,500,000,000 Fixed Rate Senior Notes Due 2027; $2,000,000,000 Fixed Rate Guaranteed Senior Notes Due 2036; $750,000,000 Fixed Rate Senior Notes Due 2038; $2,500,000,000 Fixed Rate Senior Notes Due 2047; $1,250,000,000 Fixed Rate Senior Notes Due 2048; and $1,250,000,000 Fixed Rate Senior Notes Due 2049; each of Telef&#243;nica Emisiones, S.A.U., and the $1,250,000,000 Fixed Rate Guaranteed Senior Notes Due 2030 of Telef&#243;nica Europe, B.V. (each a wholly-owned subsidiary of Telef&#243;nica, S.A.)<br/></span></td></tr></table></div><div style="margin-top:3pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">____________________________________</span></div><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered or to be registered pursuant to Section 12(g) of the Act: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">None</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">____________________________________</span></div><div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">None</span></div><div style="margin-top:1pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">____________________________________</span></div><div style="margin-top:3pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The number of outstanding shares of each class of capital stock of Telef&#243;nica, S.A. at December&#160;31, 2022 was:</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Ordinary Shares, nominal value 1.00 euro per shar</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e: <ix:nonFraction unitRef="shares" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="dei:EntityCommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM18xNjQ4_70fe4e8e-037b-424e-a536-23df595c4d47">5,775,237,554</ix:nonFraction> </span></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:EntityWellKnownSeasonedIssuer" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6ZjUyMDY3NzUyODY2NDczODgxNDZhNDYzMmQzMjUyZDAvdGFibGVyYW5nZTpmNTIwNjc3NTI4NjY0NzM4ODE0NmE0NjMyZDMyNTJkMF8wLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjgxNWY2NmQ3YzFhZjRkN2M4YzMxNzI3ZDVlMTc1MjMwXzU_60e669d2-9bba-4d67-a853-f6c36108f8bc">Yes</ix:nonNumeric> </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">x</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">No </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td></tr></table></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Yes </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:EntityVoluntaryFilers" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6ZTI0MDc4Y2RhNjU3NDJkZmIxZDNjNWI5MWJjZjM5YjUvdGFibGVyYW5nZTplMjQwNzhjZGE2NTc0MmRmYjFkM2M1YjkxYmNmMzliNV8wLTEtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjgwODkzZWY1OWY0YjQyY2FhZWE2OGRjN2ZkYjM3MjY5XzU_92bbef7c-b53a-4081-b991-d3417c054f65">No</ix:nonNumeric> </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">x</span></div></td></tr></table></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:EntityCurrentReportingStatus" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6YWI5ZDZjYzgxNjczNDFlZWEwNGI3YmI1NWU4MWEzZGUvdGFibGVyYW5nZTphYjlkNmNjODE2NzM0MWVlYTA0YjdiYjU1ZTgxYTNkZV8wLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjI4MThiYjk1MTdmOTQ3ZjNhNTFjMmVlOGZlZDQwZGEzXzU_564e6cf6-967c-4208-bc10-6a74ee272482">Yes</ix:nonNumeric> </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">x</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">No </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td></tr></table></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:EntityInteractiveDataCurrent" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6ZDVlY2IwNDE1NjEyNDQxODlkNjQ4NjRlYjQ2OTFmNzUvdGFibGVyYW5nZTpkNWVjYjA0MTU2MTI0NDE4OWQ2NDg2NGViNDY5MWY3NV8wLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOmI5NGU5MDkzMjZmYjRlNWE5MmExNzgyM2E0YTdjY2ZhXzU_878570da-4ee1-415a-9478-56af5a484329">Yes</ix:nonNumeric> </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">x</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">No </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td></tr></table></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerging growth company. See the definitions of &#8220;large accelerated filer&#8221;, &#8220;accelerated filer&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act (Check one):</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.231%"><tr><td style="width:1.0%"></td><td style="width:24.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.006%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.320%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.105%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:EntityFilerCategory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6ODZjZmIxOTcxZWQwNDFhZGFlNDMxOGViZDA0NGE2OGYvdGFibGVyYW5nZTo4NmNmYjE5NzFlZDA0MWFkYWU0MzE4ZWJkMDQ0YTY4Zl8wLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOmZlNDYyZTIzYjNkMDRkMjE5ZDZlODdlYjM2NzFhYWQ1XzU_ac3aac36-cef1-4c42-aa71-fa3d8532f19a">Large Accelerated Filer</ix:nonNumeric> </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">x</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accelerated Filer </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-accelerated Filer </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Emerging growth company </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:EntityEmergingGrowthCompany" format="ixt:fixed-false" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6ODZjZmIxOTcxZWQwNDFhZGFlNDMxOGViZDA0NGE2OGYvdGFibGVyYW5nZTo4NmNmYjE5NzFlZDA0MWFkYWU0MzE4ZWJkMDQ0YTY4Zl8wLTMtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjE4OWZjZTU5ZmJiMjQ5NDRhODZkMTZhZTYxYjM3M2Q4XzI5_b300ccf9-e474-4a44-9567-ecae8a235855">o</ix:nonNumeric></span></div></td></tr></table></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%">o</span></div><div style="height:4.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:31.5pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The term &#8220;new or revised financial accounting standard&#8221; refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.  </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:IcfrAuditorAttestationFlag" format="ixt:fixed-true" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGV4dHJlZ2lvbjplZWJmZmZlZGY4NDA0MDE4OTA4NDZmOGM4YTg2NWJjM18zNzgx_162c7f30-885a-410c-9171-a62bdbb1c52b">x</ix:nonNumeric></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%">o</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to &#167;240.10D-1(b).  </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:120%">o</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:</span></div><div style="margin-bottom:1.5pt;margin-top:1.5pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:7.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:89.895%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div><div style="text-align:center"><span><br/></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">U.S. GAAP</span></td></tr></table></div><div style="padding-left:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:7.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:89.895%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">x</span></div><div style="text-align:center"><span><br/></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:DocumentAccountingStandard" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6ZWUwNDM0OWRjZjIyNGNlYjkzZjliZmUyMjFhYzlkNDIvdGFibGVyYW5nZTplZTA0MzQ5ZGNmMjI0Y2ViOTNmOWJmZTIyMWFjOWQ0Ml8wLTEtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjZhODE2Yjk2MjBlMzQwMjNhYmJhMjkzYTY3NzViYjViXzQ_98d493a5-1189-4b16-91c5-83f1ac32be6c">International Financial Reporting Standards</ix:nonNumeric> as issued by the International Accounting Standards Board</span></div></td></tr></table></div><div style="padding-left:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:7.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:89.895%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div><div style="text-align:center"><span><br/></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other</span></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">If &#8220;Other&#8221; has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.658%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:54.142%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Item 17</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Item 18</span></div></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.658%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:54.142%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Yes </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">No </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:11pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:EntityShellCompany" format="ixt:fixed-false" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xL2ZyYWc6ZWViZmZmZWRmODQwNDAxODkwODQ2ZjhjOGE4NjViYzMvdGFibGU6MjUyODMyYTJiMWZhNDhkN2E3MTExYTg2N2I1MWVhYzEvdGFibGVyYW5nZToyNTI4MzJhMmIxZmE0OGQ3YTcxMTFhODY3YjUxZWFjMV8wLTEtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOmY4YjYzNjE4Njk4ZjQ0MzdhYjAwMzI0ZGIyNTk5NTFkXzg_84b865c6-c488-4b5c-ae35-d075a027f415">x</ix:nonNumeric></span></div></td></tr></table></div><div style="text-align:center"><span><br/></span></div><div style="height:4.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_7"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:89.090%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.710%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:100%;text-decoration:underline">TABLE OF CONTENTS</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_10">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_10">7</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_13">CERTAIN TERMS AND CONVENTIONS</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_13">9</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_16">PRESENTATION OF CERTAIN FINANCIAL INFORMATION</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_16">13</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_19">PART I</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_19">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_22">Item 1. Identity of Directors, Senior Management and Advisors</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_22">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_25">A.&#160; Directors and Senior Management</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_25">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_28">B.&#160; Advisers</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_28">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_31">C. Auditors</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_31">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_34">Item 2.&#160; Offer Statistics and Expected Timetable</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_34">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_37">Item 3.&#160; Key Information</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_37">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_40">A.&#160; Selected Financial Data</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_40">14</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_43">B. Capitalization and Indebtedness</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_43">16</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_46">C. Reasons for the Offer and Use of Proceeds</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_46">16</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_49">D. Risk Factors</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_49">16</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_52">Item 4. Information on the Company</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_52">31</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_55">A. History and Development of the Company</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_55">31</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_58">B. Business Overview</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_58">42</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_76">C. Organizational Structure&#160;</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_76">82</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_79">D. Property, Plant and Equipment</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_79">82</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_82">Item 4A. Unresolved Staff Comments</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_82">84</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_85">Item 5. Operating and Financial Review and Prospects</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_85">84</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_88">A. Operating Results</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_88">84</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_91">B. Liquidity and Capital Resources</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_91">96</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_94">C. Research and Development, Patents and Licenses, etc.</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_94">100</a></span></div></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:89.090%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.710%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_97">D. Trend Information</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_97">102</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_100">E. Critical Accounting Estimates</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_100">103</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_103">F. Non-GAAP Financial Information</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_103">103</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_106">Item 6. Directors, Senior Management and Employees</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_106">109</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_109">A. Directors and Senior Management</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_109">110</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_112">B. Compensation</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_112">121</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_115">C. Board Practices</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_115">121</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_118">D. Employees</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_118">121</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_121">E. Share Ownership</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_121">121</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_124">Item 7. Major Shareholders and Related Party Transactions</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_124">122</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_127">A. Major Shareholders</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_127">122</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_130">B. Related Party Transactions</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_130">123</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_133">C. Interests of Experts and Counsel</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_133">124</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_136">Item 8. Financial Information</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_136">124</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_139">Item 9. The Offering and Listing</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_139">133</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_142">A. Offer and Listing Details</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_142">133</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_145">B. Plan of Distribution</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_145">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_148">C. Markets</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_148">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_151">D. Selling Shareholders</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_151">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_154">E. Dilution</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_154">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_157">F. Expenses of the Issue</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_157">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_160">Item 10. Additional Information</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_160">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_163">A. Share Capital</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_163">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_166">B. Memorandum and Articles of Association</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_166">140</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_169">C. Material Contracts</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_169">152</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_172">D. Exchange Controls</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_172">159</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_175">E. Taxation</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%"> </span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_175">160</a></span></div></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:89.090%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.710%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_178">F. Dividends and Paying Agents</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_178">164</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_181">G. Statements by Experts</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_181">164</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_184">H. Documents on Display</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_184">164</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_187">I. Subsidiary Information</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_187">164</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_190">Item 11. Quantitative and Qualitative Disclosures About Market Risk</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_190">164</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_193">Item 12. Description of Securities Other Than Equity Securities</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_193">165</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24.75pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_196">D.</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_196">American Depositary Shares</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_196">165</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_199">Part II</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_199">168</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_202">Item 13. Defaults, Dividend Arrearages and Delinquencies</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_202">168</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_205">Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_205">168</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_208">Item 15. Controls and Procedures</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_208">168</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_211">Item 16. [Reserved]</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_211">169</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_214">Item 16A. Audit Committee Financial Expert</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_214">169</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_217">Item 16B. Code of Ethics</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_217">169</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_220">Item 16C. Principal Accountant Fees and Services</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_220">169</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_223">Item 16D. Exemptions from the Listing Standards for Audit Committees</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_223">170</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_226">Item 16E.&#160;&#160; Purchases of Equity Securities by the Issuer and Affiliated Purchasers</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_226">170</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_229">Item 16F. Change in Registrant&#8217;s Certifying Accountant</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_229">170</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_232">Item 16G. Corporate Governance</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_232">171</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_235">Item 16H. Mine Safety Disclosure</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_235">173</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_238">Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_238">173</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_241">Part III</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_241">174</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_244">Item 17. Financial Statements</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_244">174</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_247">Item 18. Financial Statements</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_247">174</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_250">Item 19. Exhibits</a></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_250">174</a></span></div></td></tr></table></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_10"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Annual Report contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), Section 21E of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this Annual Report can be identified, in some instances, by the use of words such as &#8220;will,&#8221; &#8220;shall,&#8221; &#8220;target,&#8221; &#8220;expect,&#8221; &#8220;aim,&#8221; &#8220;hope,&#8221; &#8220;anticipate,&#8221; &#8220;should,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;assume,&#8221; &#8220;estimate,&#8221; &#8220;plan,&#8221; &#8220;intend,&#8221; &#8220;believe&#8221; and similar language or other formulations of a similar meaning or, in each case, the negative formulations thereof. Other forward-looking statements can be identified in the context in which the statements are made or by the forward-looking nature of discussions of strategy, plans or intentions. These statements appear in a number of places in this Annual Report including, without limitation, certain statements made in &#8220;Item 3. Key Information&#8212;Risk Factors,&#8221; &#8220;Item 4. Information on the Company,&#8221; &#8220;Item 5. Operating and Financial Review and Prospects&#8221; and &#8220;Item 11. Quantitative and Qualitative Disclosures About Market Risk&#8221; and include statements regarding our intent, belief or current expectations with respect to, among other things:</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the effect on our results of operations of competition in telecommunications markets;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">trends affecting our business, financial condition, results of operations or cash flows;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">ongoing or future acquisitions, investments or divestments;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our capital expenditures plan;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our estimated availability of funds;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our ability to repay debt with estimated future cash flows;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our shareholder remuneration policies;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">supervision and regulation of the telecommunications sectors where we have significant operations;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our environmental, social and governance commitments and targets;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our existing or future strategic partnerships or joint ventures;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the potential for growth and competition in current and anticipated areas of our business; and</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the outcome of pending or future litigation or other legal proceedings.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Such forward-looking statements are not guarantees of future performance and involve numerous risks and uncertainties, and actual results may differ materially from those anticipated in the forward-looking statements as a result of various factors. The risks and uncertainties involved in our businesses that could affect the matters referred to in such forward-looking statements include but are not limited to:</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">changes in general economic, business or political conditions in the domestic or international markets in which we operate or have material investments that may affect our business, financial condition, results of operations, cash flows and/or the performance of some or all of our financial indicators, including as a result of the evolution of increasing trade or geopolitical tensions in certain parts of the world, including as a result of the armed conflict in Ukraine, inflation, the pace of monetary stimulus withdrawal and interest-rate hikes, the worsening of the fiscal sustainability in some European countries, economic and political uncertainties in Spain, the impact of Brexit or the COVID-19 pandemic;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">compliance with data privacy regulations and the impact of our inability to comply with any such regulations, including liability for any loss, transfer or inappropriate modification of customer data or general public data stored on our servers or transmitted through our networks;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">exposure to currency exchange rates, interest rates or credit risk, including in relation to our investments or in some of our financial transactions;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">existing or worsening conditions in the international financial markets;</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the impact of current, pending or future legislation and regulation in countries where we operate, as well as any failure to renew or obtain the necessary licenses, authorizations and concessions to carry out our operations and the impact of limitations in spectrum capacity;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">compliance with anti-corruption laws and regulations and economic sanctions programs and the impact of any breach of any such laws, regulations and programs;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our inability to anticipate or adapt in a timely manner to changing customer demands and/or new ethical or social standards;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">changes in our competitive position, including as a result of the evolution of competition and market consolidation in the markets where we operate, as well as the impact of any failure to comply with any antitrust regulations or any regulatory actions imposed by antitrust authorities;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our inability to anticipate and adapt to the rapid technological changes that characterize the sector in which we operate, or to select the right investments to make;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our dependence on suppliers and their failure to provide necessary equipment and services on a timely basis or otherwise meet our performance expectations;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the impact of unanticipated network interruptions, including as a result of sabotage;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the impact of cyber-threats and cyber-security actions;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the impact of impairment charges on our goodwill, property, plant and equipment, intangible assets, investments accounted for using the equity method, deferred taxes or other assets as a result of changes in the regulatory, business, economic or political environment or other factors;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the impact of a decrease in our liquidity or difficulties in our ability to finance ourselves; </span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">our ability to address physical, regulatory, reputational, transition and business risks associated with climate change and emerging and developing environmental, social and governance standards;</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:19pt">the outcome of pending or future litigation or other legal proceedings, and</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:18.3pt">our ability to complete any pending acquisition, divestment or other significant transaction as planned or to achieve the expected outcome from any completed acquisition, divestment or other significant transaction (including our 50:50 joint venture with Liberty Global in the United Kingdom, VMED O2 UK Limited).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date of this Annual Report. We do not undertake any obligation to update any forward-looking statements that may be made to reflect events or circumstances after the date of this Annual Report including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_13"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">CERTAIN TERMS AND CONVENTIONS</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our ordinary shares, nominal value 1.00 euro per share, are currently listed on each of the Madrid, Barcelona, Bilbao and Valencia stock exchanges (collectively, the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spanish Stock Exchanges</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) and are quoted through the Automated Quotation System under the symbol &#8220;TEF&#8221;. American Depositary Shares (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ADSs</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), each representing the right to receive one ordinary share, are listed on the New York Stock Exchange (the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NYSE</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> &#8221;) and on the Lima Stock Exchange. ADSs are evidenced by American Depositary Receipts (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ADRs</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) issued under a Deposit Agreement with Citibank, N.A., as Depositary.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As used herein, &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Group,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Group</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Company</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and terms such as &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">we,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">us</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">our</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; mean Telef&#243;nica, S.A. and its consolidated subsidiaries, unless the context requires otherwise.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"p.p."</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means percentage points.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"YoY"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"y-o-y" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">means year-on-year. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For definitions of &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">operating income before depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; (OIBDA), &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OIBDA-CapEx</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OIBDA-CapEx excluding spectrum acquisitions</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">net financial debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">net financial debt plus leases</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">net financial debt plus commitments</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">net financial debt plus leases plus commitments</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;  and &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">free cash flow</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; see &#8220;Item 5. Operating and Financial Review and Prospects-</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-GAAP Financial Information&#8221;. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Below are definitions of certain technical terms used in this Annual Report:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"5G"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is a technology succeeding the mobile technology called 4G. The aim is to make the navigation experience and Internet downloads more agile. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Access"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> refers to a connection to any of the telecommunications services offered by Telef&#243;nica. A single fixed customer may contract for multiple services, and Telef&#243;nica believes that it is more useful to count the number of accesses a customer has contracted for, rather than to merely count the number of its customers. For example, a customer that has fixed line telephony service and broadband service is counted as two accesses rather than as one customer. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"ARPU" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">is total mobile service revenues during the relevant period divided by the average number of retail accesses (based on the beginning and the month-end number of retail accesses during such period), divided by the number of months in such period. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Artificial Intelligence"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is intelligent tasks carried out by machines.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"AWS"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Amazon Web Services refers to Amazon's service platform offering data base storage, content delivery and other functionalities that can help a business to grow. It is also more secure than a physical server. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"B2B"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or business to business is the business segment. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"B2C"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or business to customer is the residential segment. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Bundle"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> refers to a combination of products that combine fixed services (wirelines, broadband and television) and mobile services. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"CATV"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or community antenna television is a system of delivering television programming to consumers via radio frequency (RF) signals transmitted through coaxial cables, or in more recent systems, via light pulses through fiber-optic cables.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">"Churn"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> is the number of disconnections over the average customer base in a given period divided by the number of months in such period.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Cloud computing"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is a service whereby shared resources, software and information are provided to computers and other devices as a utility over a network (typically, the Internet). </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Cloud Phone"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is an application that allows the transfer of files between two smartphones in a simple way.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Commercial activity"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> includes the addition of new lines, replacement of handsets, migrations and disconnections. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Connected car"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is a vehicle equipped with Internet access and generally through a local wireless network or satellite.</span></div><div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Convergent"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> refers to the offer of a fixed service together with a mobile service. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Data ARPU" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">is data revenues during the relevant period divided by the average number of retail accesses (based on the beginning and the month-end number of retail accesses during such period), divided by the number of months in such period.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Data revenues"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> include revenues from mobile data services such as mobile connectivity and mobile Internet, premium messaging, downloading ringtones and logos, mobile mail and SMS/MMS. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Data traffic"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> includes all traffic from Internet access, messaging (SMS, MMS) and connectivity services over Telef&#243;nica's network. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"DTH (Direct-To-Home)"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is a technology used for the provision of TV services.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Fixed telephony accesses" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">includes public switched telephone network (PSTN) lines (including public use telephony), integrated services digital network (ISDN) lines and circuits, "fixed wireless" and Voice over IP accesses.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"FTRs"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Fixed termination rates is an established fixed network tariff that applies when a customer makes a call to someone in a network operated by another operator. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"FTTH"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Fiber to Home is a telecommunications technology that consists of the use of fiber optic cabling and optical distribution systems for the provision of Internet services and IPTV to homes, businesses and companies.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8220;FTTP&#8221;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Fiber to the Premises refers to equipment used in fiber access deployments where fibers extend all</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the way to the end user premises and the equipment is designed and optimized for use in residential applications.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"FTTx"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is a generic term for any broadband network architecture that uses optical fiber to replace all or part of the metal local loop. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Gbps"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means Gigabytes per second.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"GHz" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">means gigahertz.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"ICT"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or information communication technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Interconnection revenues" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">means revenues received from other operators which use Telef&#243;nica's networks to connect to or finish their calls and SMS or to connect to their customers. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Internet and data accesses"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, "Fixed broadband accesses" or "FBB accesses" include broadband accesses (including retail asymmetrical digital subscriber line (ADSL), very high bit-rate digital subscriber line (VDSL), satellite, fiber optic and circuits over 2 Mbps), narrowband accesses (Internet service through the PSTN lines) and the remaining non-broadband final customer circuits. Internet and data accesses also include "Naked ADSL", which allows customers to subscribe for a broadband connection without a monthly fixed line fee. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8220;IoT&#8221;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Internet of Things refers to technologies that allow both mobile and wired systems to communicate with other devices with the same capability. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"IPTV"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Internet Protocol Television refers to distribution systems for television subscription signals or video using broadband connections over the IP protocol. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"ISDN"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Integrated Services Digital Network is a format commonly used for transmitting information through a digital high speed connection. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Local loop"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means the physical circuit connecting the network termination point at the subscriber's premises to the main distribution frame or equivalent facility in the fixed public telephone network. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"LTE"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Long-Term Evolution is a 4G mobile access technology. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Market share"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is the percentage ratio of the number of final accesses over the existing total market in an operating area. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Mb" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">means Megabytes.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"MHz" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">means megahertz.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"MMS" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or Multimedia Messaging Service is a standard messaging system allowing mobile phones to send and receive multimedia content, including sound, video and photos. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Mobile accesses"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> include accesses to the mobile network for voice and/or data services (including connectivity). Mobile accesses are categorized into contract, prepay and IoT accesses. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Mobile broadband" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">includes Mobile Internet (Internet access from devices also used to make voice calls such as smartphones), and Mobile Connectivity (Internet access from devices that complement fixed broadband, such as PC Cards/dongles, which enable large amounts of data to be downloaded on the move). </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"MTR"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or mobile termination rate is an established mobile network tariff that applies when a customer makes a call to someone in a network operated by another operator. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"MVNO"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or mobile virtual network operator is a mobile operator that provides mobile services through another mobile operator. An MVNO pays a determined tariff to such mobile network operator for using the infrastructure to facilitate coverage to its customers. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Net adds/Net loss" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">is the difference between the customer base as of the end of a certain period compared to December 31 of the prior year.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"OTT services" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or over the top services means services provided through the Internet (such as television and video streaming). </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Pay TV"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> includes cable TV, direct to home satellite TV (DTH) and IPTV. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"PSTN" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">is Public Switched Telephone Network. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Revenues"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means net sales and revenues from rendering of services. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Service revenues"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are total revenues minus mobile handset sales. Service revenues are mainly related to telecommunication services, especially voice- and data revenues (SMS and data traffic download and upload revenues) consumed by Telef&#243;nica's customers. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"SIM"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means subscriber identity module, a removable intelligent card used in mobile handsets, USB modems, etc. to identify the user in the network. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Smart Wi-Fi"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is an application in which users can control their Wi-Fi network and the devices connected to it from their mobile.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"SMS"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means short messaging service.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"STB (Set-top box)" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">is a device that converts a digital television signal to analogue for viewing on a conventional set, or that enables cable or satellite television to be viewed.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Tbps"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means terabytes per second.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Tracker" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">is a special server which contains the information needed for users to connect with other users.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"UBB"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Ultra Broadband</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is the fiber-to-the-premise broadband which is capable of giving a minimum download speed of 100 Mbps and a minimum upload speed of 50 Mbps. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"VMO2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">" refers to VMED O2 UK Limited, our 50:50 joint venture with Liberty Global plc in the United Kingdom, or to the Group&#8217;s VMO2 operating segment, as the context requires.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Voice traffic"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means voice minutes used by Telef&#243;nica's customers over a given period, both outbound and inbound. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"VoIP"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means voice over Internet protocol. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"VPN"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or Virtual Private Network extends a private network across a public network and enables users to send and receive data across shared or public network.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">"Wholesale accesses"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> means accesses Telef&#243;nica provides to other companies, who then sell services over such accesses to their residential and corporate clients.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_16"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">PRESENTATION OF CERTAIN FINANCIAL INFORMATION</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this Annual Report, references to &#8220;U.S. dollars,&#8221; &#8220;dollars&#8221; or &#8220;$,&#8221; are to United States dollars, references to &#8220;pounds sterling,&#8221; &#8220;sterling&#8221; or &#8220;&#163;&#8221; are to British pounds sterling, references to &#8220;real&#8221; or "reais" refer to Brazilian real and references to &#8220;euro&#8221;, &#8220;euros&#8221; or &#8220;&#8364;&#8221; are to the single currency of the participating member states in the Third Stage of the European Economic and Monetary Union pursuant to the treaty establishing the European Community, as amended from time to time.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our consolidated financial statements as of December 31, 2022 and 2021, and for the years ended December 31, 2022, 2021 and 2020 included elsewhere in this Annual Report, including the notes thereto (the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Consolidated Financial Statements</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), are prepared in conformity with International Financial Reporting Standards (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IFRS</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) as issued by the International Accounting Standards Board (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IASB</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_19"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:26pt;font-weight:400;line-height:120%">PART I</span></div><div id="i2ad619f032b2435680b3f6486d100018_22"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 1. Identity of Directors, Senior Management and Advisors</span></div><div id="i2ad619f032b2435680b3f6486d100018_25"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Directors and Senior Management</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_28"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Advisers</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_31"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Auditors</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_34"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 2. Offer Statistics and Expected Timetable</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_37"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 3. Key Information</span></div><div id="i2ad619f032b2435680b3f6486d100018_40"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Selected Financial Data</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents certain selected consolidated financial data. It is to be read in conjunction with &#8220;Item 5. Operating and Financial Review and Prospects&#8221;, &#8220;Item 4. Information on the Company&#8212;Business Overview&#8221; and the Consolidated Financial Statements. The consolidated income statements and the consolidated statements of cash flows data for the years ended December 31, 2020, 2021 and 2022 and the consolidated statements of financial position data as of December 31, 2021 and 2022 set forth below are derived from, and are qualified in their entirety by reference to the Consolidated Financial Statements. The consolidated income statements and the consolidated statements of cash flows data for the years ended December 31, 2018 and 2019 and the consolidated statements of financial position data as of December 31, 2018, 2019 and 2020 are not included in this Annual Report, and they instead are derived from the last year Annual Report on Form 20-F filed by us.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Consolidated Financial Statements have been prepared in accordance with IFRS as issued by the IASB.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:3pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The basis of presentation is described in detail in Note 2 to our Consolidated Financial Statements.</span></div><div style="margin-top:3pt;text-align:justify;text-indent:20.25pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:46.191%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.445%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2018</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2019</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated Income Statements Data</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48,693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48,422&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">43,076&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39,993&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other income</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,622&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,842&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,673&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,065&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,013)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13,635)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13,014)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,258)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,941)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,332)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,066)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,280)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,733)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,524)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,399)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14,444)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,871)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,976)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,741)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,049)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,582)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,359)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,397)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,796)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OPERATING INCOME</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,522</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,537</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13,586</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,056</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share of (loss) income of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net finance expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,232)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,953)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,740)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,414)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,227)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net exchange differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">182&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(955)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,832)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,558)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,364)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,313)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">PROFIT BEFORE TAX</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5,571</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,718</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,583</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Corporate income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,621)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,054)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(626)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,378)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(641)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">PROFIT FOR THE YEAR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,950</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,664</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,957</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,717</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,319</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Attributable to equity holders of the parent</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,331&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,142&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,582&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,137&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,011&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Attributable to non-controlling interests</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">619&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">522&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,580&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other Data</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Weighted average number of shares-Basic (thousands)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,941,714&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,933,094&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,952,695&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,864,070&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,740,105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Basic earnings per share attributable to equity holders of the parent (euro)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Diluted earnings per share attributable to equity holders of the parent (euro)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Basic earnings per ADS (euro)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Diluted earnings per ADS (euro)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Weighted average number of ADS-Basic (thousands)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,941,714&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,933,094&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,952,695&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,864,070&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,740,105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Dividends per ordinary share (cash and scrip) (&#8364;)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Dividends per ordinary share (cash and scrip) ($)(2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.47&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated Statements of Financial Position Data</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,692&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,042&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,604&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,580&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33,295&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,228&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,769&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,725&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,714&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">114,047&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">118,877&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">105,051&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">109,213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">109,642&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57,418&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">63,236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,674&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55,034&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,834&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,980&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,450&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,260&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,684&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31,708&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Capital stock</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,192&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,192&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,526&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,775&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:3pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated Statements of Cash Flows Data</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,423&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,022&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,196&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,763&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash from (used in)  investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,685)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,641)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,790)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,896&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,327)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash used in&#160;financing activities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,880)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,021)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,438)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,990)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,925)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:16.15pt">The per share and per ADS computations for all periods presented have been reported using the weighted average number of shares and ADSs, respectively, outstanding for each period, and have been adjusted to reflect the stock dividends which occurred during the periods presented, as if these had occurred at the beginning of the earliest period presented. In accordance with IAS 33 (&#8220;Earnings per share&#8221;), the weighted average number of ordinary shares (including in the form of ADSs) outstanding for each of the periods covered has been </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="padding-left:22.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">restated to reflect the issuance of shares pursuant to Telef&#243;nica&#8217;s scrip dividends in June 2020, December 2020, June 2021, December 2021 and June 2022. </span></div><div style="padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:16.15pt">Quantities in U.S. dollars are calculated in accordance with the conversion rate published by the Depositary (Citibank, N.A.) in connection with each dividend payment.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_43"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Capitalization and Indebtedness</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_46"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Reasons for the Offer and Use of Proceeds</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_49"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">D. Risk Factors </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s business is affected by a series of risk factors that affect exclusively the Group, as well as a series of external factors that are common to businesses of the same sector. The main risks and uncertainties faced by Telef&#243;nica, which could affect its business, financial condition, results of operations and/or cash flows are set out below and must be considered jointly with the information set out in the rest of this Annual Report.   </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These risks are currently considered by the Telef&#243;nica Group to be material, specific and relevant in making an informed investment decision in respect of Telef&#243;nica. However, the Telef&#243;nica Group is subject to other risks that have not been included in this section based on the Telef&#243;nica Group&#8217;s assessment of their specificity and materiality based on the Telef&#243;nica Group&#8217;s assessment of their probability of occurrence and the potential magnitude of their impact.   The assessment of the potential impact of any risk is both quantitative and qualitative considering, among other things, potential economic, compliance, reputational and environmental, social and governance ("ESG") impacts.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group, taking into account the global risks identified by the World Economic Forum, as well as the increase in legal information requirements and the expectations of stakeholders in this area, monitors risks directly related to sustainability, as well as other risks with potential impact on ESG,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">highlighting those most relevant in the context of Telef&#243;nica's operation, including the adaptation to ESG expectations and information requirements and climate change. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Risks are presented in this section grouped into four categories: business, operational, financial, and legal and compliance. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These categories are not presented in order of importance. However, within each category, the risk factors are presented in descending order of importance, as determined by Telef&#243;nica at the date of this Annual Report. Telef&#243;nica may change its vision about their relative importance at any time, especially if new internal or external events arise.</span></div><div style="margin-bottom:10pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Risks Related to Telef&#243;nica's Business Activities. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica's competitive position in some markets could be affected by the evolution of competition and market consolidation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group operates in highly competitive markets and it is possible that the Group may not be able to market its products and services effectively or respond successfully to the different commercial actions carried out by its competitors, causing it to not meet its growth and customer retention plans, thereby jeopardizing its future revenues and profitability.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reinforcement of competitors, the entry of new competitors (either new players or providers of OTT Services), or the merger of operators in certain markets (for example, market consolidation in the United Kingdom following a potential merger of mobile operators Vodafone UK and Three UK), may affect Telef&#243;nica&#8217;s competitive position, negatively affecting the evolution of its revenues and market share or increasing its costs. In addition, changes in competitive dynamics in the different markets in which the Telef&#243;nica Group operates, such as in Chile, Colombia, Peru, Mexico and Argentina, where there are aggressive customer acquisition offers, including unlimited data and discounts on certain services, among others, can affect the competitive position and the efficiency of Telef&#243;nica&#8217;s operations.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">16</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If Telef&#243;nica is not able to successfully face these challenges, the Group's business, financial condition, results of operations and/or cash flows could be adversely affected.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Group requires government concessions and licenses for the provision of a large part of its services and the use of spectrum, which is a scarce and costly resource.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The telecommunications sector is subject to laws and sector-specific regulations. The fact that the Group's business is highly regulated affects its revenues, operating income before depreciation and amortization ("OIBDA") and investments.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Many of the Group&#8217;s activities (such as the provision of telephone services, Pay TV, the installation and operation of telecommunications networks, etc.) require licenses, concessions or authorizations from governmental authorities, which typically require that the Group satisfies certain obligations, including minimum specified quality levels, and service and coverage conditions. If the Telef&#243;nica Group breaches any of such obligations, it may suffer consequences such as economic fines or other measures that would affect the continuity of its business. In addition, in certain jurisdictions, the terms of granted licenses may be modified before the expiration date of such licenses or, at the time of the renewal of a license, new enforceable obligations could be imposed or the renewal of a license could be refused. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the Telef&#243;nica Group could be affected by the regulatory actions of antitrust authorities. These authorities could prohibit certain actions, such as new acquisitions or specific practices, create obligations or impose heavy fines. Any such measures implemented by the antitrust authorities could result in economic and/or reputational loss for the Group, in addition to a loss of market share and/or harm to the future growth of some of its businesses. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any of the foregoing could have an adverse effect on the business, financial condition, results of operations and/or cash flows of the Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Access to new concessions/ licenses of spectrum.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group requires sufficient spectrum to offer its services. The Group's failure to obtain sufficient or appropriate spectrum capacity in the jurisdictions in which it operates, or its inability to assume the related costs, could have an adverse impact on its ability to maintain the quality of existing services and on its ability to launch and provide new services, which may materially adversely affect Telef&#243;nica&#8217;s business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The intention of the Group is to maintain current spectrum capacity and, if possible, to expand it, through the participation of the Group in spectrum auctions which are expected to take place in the next few years, which will likely require cash outflows to obtain additional spectrum or to comply with the coverage requirements associated with some of the related licenses. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Spain, the Ministry of Economic Affairs and Digital Transformation launched a public consultation on the National Frequency Allocation Table, raising the possibility of making available 450 MHz of the 26 GHZ spectrum band, to companies, industries and organizations operating in a specific sector, that deploy private networks to support their connectivity needs (verticals). This could mean more competition in the private corporate network segment.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the UK, in May 2022, the Office of Communications ("Ofcom") launched a public consultation on opening access to the 26 GHz and 40 GHz bands for mobile use. This is the first of a series of detailed consultations on the award, with a process possible towards the end of 2024 at the earliest. The consultation outlines the proposal to offer a range of local and city-wide licenses, differentiating between low- and high-density areas.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Latin America, several auction processes are expected in the near term: (i) in Colombia, in December 2022, the Ministry of Information Technologies and Communications (&#8220;MinTIC&#8221;) asked the industry to express their interest in participating in a possible auction for the spectrum that remains available in the 700 MHz, 1900 MHz and 2500 MHz bands as well as for 5G spectrum (3.5 GHz and 26 GHz bands). In such expression of interest, which is non-binding, Telef&#243;nica expressed its interest in obtaining spectrum in all the proposed bands except 26GHz. In its expression of interest Telef&#243;nica also highlighted the need to delay all spectrum auctions until the review on the spectrum pricing methodology currently underway is completed, and there is an alignment between spectrum cost and its value generation capacity, and until measures to avoid an excessive control of this resource by the dominant operator are defined. To date, no specific dates have been proposed for an eventual spectrum auction; (ii) in Peru, the authorities have indicated their interest in resuming the auction on the 1750 &#8211; 1780 MHz, 2150 &#8211; 2180 MHz and </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">17</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2300 &#8211; 2330 MHz bands, but no specific date or conditions have been set for it. With regards to 5G and the spectrum auction for the 3.5 GHz and 26 GHz band, the government has not yet taken a decision; and (iii) in Argentina, the government has made public its intention to auction 5G spectrum in 2023, but no specific date for the process has been published. Pursuant to Resolution 2385/2022 published on December 28, 2022, the Ente Nacional de Comunicaciones (Enacom) approved the General Rules for Intelligent and Reliable Telecommunications Services that preliminarily sets the conditions for the implementation of 5G in Argentina; iv) in Uruguay on December 28, 2022 the Executive Power signed the decree authorizing an auction process for the 3.5 GHz band to occur in the first quarter of 2023.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Existing licenses: renewal processes and modification of conditions for operating services.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The revocation or failure to renew the Group&#8217;s existing licenses, authorizations or concessions, or any challenges or amendments to their terms, could materially adversely affect Telef&#243;nica&#8217;s business, financial condition, results of operations and/or cash flows.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:96%">In Spain, and in accordance with the new Telecommunications Act (second transitory provision), Telef&#243;nica requested the Administration to extend the duration of its spectrum licenses up to a maximum of 40 years.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Germany, in the allocation procedure for the frequencies at 800 MHz, 1800 MHz and 2.6 GHz, which will partially expire at the end of 2025, the Bundesnetzagentur has submitted a position paper for consultation as a follow-up to the consultation of orientation points which were connected with an initial survey of demand. In the position paper, it considers a spectrum scarcity to be obvious and is considering an auction as the award format. In order to reflect the importance of the 800 MHz band for mobile coverage, the Bundesnetzagentur proposes a swap in the term of the frequencies to be awarded at 800 MHz with an equal amount of 900 MHz frequencies. The frequencies at 900 MHz, 1800 MHz and 2.6 GHz would then be auctioned off. The frequencies at 800 MHz would have a term until the end of 2033. Next steps in the spectrum allocation procedure in the form of cornerstones and a formal demand survey are expected in the first half of 2023. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the UK, mobile spectrum licenses are generally indefinite in term, subject to an annual fee after a fixed period (usually 20 years) from the initial auction. There are no fee decisions now pending until 2033, when the fixed term for VMO2&#8217;s 800 MHz licenses will expire.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With respect to Latin America: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Brazil, the Agencia Nacional de Telecomunica&#231;&#245;es (&#8220;ANATEL&#8221;) approved on February 8, 2021, Resolution 741/2021 which sets the Regulation for the Adaptation of Fixed Commuted Telephony Service (&#8220;STFC&#8221;) concessions. ANATEL has presented an estimated value for calculating the migration balancing from the concession to the authorization regime, which will be validated by the Federal Court of Accounts. There is a risk that consensus between the parties on the migration calculation may not be reached. In any case, if a decision is made by Telef&#243;nica not to migrate, the STFC concession held by Telef&#243;nica will remain in force until December 31, 2025. In addition, Resolution 744/2021 of April 8, 2021 (the &#8220;Continuity Regulation&#8221;) establishes that, at the end of the life of the concession contracts, the transfer of the right of use of shared-use assets will be guaranteed under fair and reasonable economic conditions, in the event that the granting authority or the company that succeeds the provider wishes to make use of these assets to maintain the continuity of the provision of STFC under the public regime. In relation to the process that is being carried out before the Federal Court of Accounts, the technical area of the Court proposed the revision of the Continuity Regulation's terms so that it provides for the reversion, to the concessionaires, of the assets used in the provision of STFC. This proposal is still subject to deliberation by the Plenary of the Federal Court of Accounts.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on December 8, 2022, ANATEL revoked Telef&#243;nica's 450 MHz spectrum authorization (451-458 MHz and 461-468 MHz) covering the states of Alagoas, Cear&#225;, Minas Gerais, Para&#237;ba, Pernambuco Piau&#237;, Rio Grande do Norte, Sergipe and part of S&#227;o Paulo. The decision was motivated by the fact that Telef&#243;nica could not provide evidence of service activation in the 450 MHz band as a result of the unavailability of a 450 MHz devices ecosystem. The revocation of the spectrum license does not impact the services currently provided by Telef&#243;nica.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, regarding the extension of the 850 MHz band authorizations, if the legal and regulatory requirements are met, ANATEL agreed to extend the current authorizations for the use of radio frequencies in Bands A and B, proposing their approval, on a primary basis, until November 29, 2028. However, specific conditions for renewal, including those related to the economic valuation criteria and obligations, were challenged by the affected service providers (including Telef&#243;nica). After ANATEL dismissed the appeals filed by the providers, ANATEL referred the case to the federal court of accounts of Brazil (&#8220;TCU&#8221;), and in September 2022, TCU decided that the possibility of </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">successive extensions brought by Law 13.879/19 should be considered as an exception, applicable only when certain requirements are met (art. 167 of Law 13.879/19 and article 12 of decree 10.402/20). Telef&#243;nica appealed that decision, defending the successive extension of licenses as a rule and not as an exception, in accordance with Law 13.879/19.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, in August 2022, when deciding on an extension request made by the provider TIM for the 850 MHz, 900 MHz and 1.8 GHz bands, ANATEL issued a decision for the possibility of extending the 900 MHz and 1.8 GHz bands only until 2032, when the Agency intends to carry out a refarming action of these bands. This decision may impact Telef&#243;nica&#8217;s extension requests for the aforementioned bands.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Peru, an arbitration process was started by Telef&#243;nica, to challenge the decision adopted by the Ministry of Transportation and Communications (&#8220;MTC&#8221;), denying the renewal of concessions for the provision of fixed-line services, valid until 2027, which ended with a favorable award for Telef&#243;nica. The award recognizes that the methodology applied to assess compliance with the concession obligations in the concession renewal process was not in accordance with the provisions of the concession contract. The MTC, following this award, must issue a new regulation for renewals in a period of time yet to be determined. Nevertheless, Telef&#243;nica del Per&#250; S.A.A. holds other concessions for the provision of fixed-line services that allow it to provide these services beyond 2027. The renewal of the 1900 MHz band in all of Peru, except for Lima and Callao, which expired in 2018, and of other licenses to offer telecommunications services were requested by the Group and a decision by the MTC is still pending. Nevertheless, these concessions are valid while the procedures are in progress.       </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Colombia, in 2023, Telefonica will have to renew 30 MHz of spectrum in the AWS band. The spectrum renewal process has not been initiated.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Argentina, in connection with Decree of Necessity and Urgency 690/2020 (&#8220;DNU 690/2020&#8221;), Telef&#243;nica de Argentina, S.A. and Telef&#243;nica M&#243;viles Argentina, S.A. (collectively, &#8220;Telef&#243;nica Argentina&#8221;) filed a lawsuit against the Argentine State, in relation to a series of contracts for licenses to provide services and spectrum use authorizations entered into between Telef&#243;nica Argentina and the Argentine State, including the licenses resulting from the 2014 spectrum auction. These contracts and their regulatory framework stated that the services provided by Telef&#243;nica Argentina were private and prices would be freely set by Telef&#243;nica Argentina. However, DNU 690/2020, by providing that the services will be &#8220;public services&#8221; and that prices will be regulated by the Argentine State, substantially modifies the legal status of those contracts, affecting the compliance with their obligations and substantially depriving Telef&#243;nica Argentina of essential rights derived from those contracts. The lawsuit filed by Telef&#243;nica Argentina was rejected in September 2021 and Telef&#243;nica Argentina appealed this decision. On December 17, 2021, the first instance ruling was revoked and the application of articles 1, 2, 3, 5 and 6 of DNU 690/2020 and Resolutions 1666/2020, 204/2021 and 1467/2020 (relating to the control of tariffs and the universal basic service) was suspended for six months or until the final decision is adopted. On June 10, 2022, the Federal Contentious Administrative Court extended the precautionary suspension of the effects of DNU 690/2020 for an additional six months in Telef&#243;nica's favor. On December 27, 2022, the Federal Contentious Administrative Court extended the precautionary suspension of the effects of DNU 690/2020 for another six months in Telef&#243;nica's favor. During this period, Telef&#243;nica Argentina will not be subject to the provisions contained in the DNU 690/2020 in relation to price and public service regulations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Ecuador, Telef&#243;nica will seek to renew in 2023 the concession contract that authorizes the provision of telecommunication services and includes the spectrum licenses (25 MHz in the 850 MHz band and 60 MHz in the 1900 MHz band).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022, the Group&#8217;s consolidated investment in spectrum acquisitions and renewals amounted to 173 million euros, mainly due to the acquisition of spectrum in Colombia (compared to 1,704 million euros in 2021, mainly due to the acquisition of spectrum in Brazil and the United Kingdom, and to 126 million euros in 2020). In the event that the licenses mentioned above are renewed or new spectrum is acquired, it would involve additional investments by Telef&#243;nica. </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further information on certain key regulatory matters affecting the Telef&#243;nica Group and the concessions and licenses of the Telef&#243;nica Group can be found in Appendix VI of the Consolidated Financial Statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica could be affected by disruptions in the supply chain or international trade restrictions, or by the dependency on its suppliers.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The existence of critical suppliers in Telef&#243;nica's supply chain, especially in areas such as network infrastructure, information systems or handsets with a high concentration in a small number of suppliers, poses risks that may affect Telef&#243;nica&#8217;s operations. In the event that a participant in the supply chain engages in practices that do not </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">meet acceptable standards or does not meet Telef&#243;nica&#8217;s performance expectations (including delays in the completion of projects or deliveries, poor-quality execution, cost deviations or reduced output due to the suppliers own stock shortfalls), this may harm Telef&#243;nica's reputation, or otherwise adversely affect its business, financial condition, results of operations and/or cash flows. Further, in certain countries, Telef&#243;nica may be exposed to labor contingencies in connection with the employees of such suppliers.</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Group depended on three handset suppliers (none of them located in China) and seven network infrastructure suppliers (two of them located in China), which, together, accounted for 81% and 80%, respectively, of the aggregate value of contracts awarded in the year ended December 31, 2022 to handset suppliers and network infrastructure suppliers, respectively. One of the handset suppliers represented 40% of the aggregate value of contracts awarded in the year ended December 31, 2022 to handset suppliers.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If suppliers cannot supply their products to the Telef&#243;nica Group within the agreed deadlines or such products and services do not meet the Group&#8217;s requirements, this could hinder the deployment and expansion plans of the network. This could in certain cases affect Telef&#243;nica&#8217;s compliance with the terms and conditions of the licenses under which it operates, or otherwise adversely affect the business and operating results of the Telef&#243;nica Group. In addition, the possible adoption of new protectionist measures in certain parts of the world, including as a result of trade tensions between the United States and China, and/or the adoption of lockdown or other restrictive measures as a result of the COVID-19 pandemic or any other crisis or pandemic, as well as those derived from geopolitical tensions such as the current war in Ukraine, could disrupt global supply chains or may have an adverse impact on certain of Telef&#243;nica&#8217;s suppliers and other players in the industry. The semiconductor industry in particular is facing various challenges, as a result mainly of supply problems at a global level, which in turn is affecting multiple sectors (including technology) through delivery delays and price increases, which could affect the Telef&#243;nica Group or others who are relevant to its business, including its customers, suppliers and partners. During 2020, 2021 and 2022 a specific monitoring has been carried out and action plans have been developed by the Group with respect to the supply chain challenges resulting from the COVID-19 pandemic, the armed conflict in Ukraine as well as the potential discontinuation of use of some suppliers as a result of tensions between the United States and China.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The imposition of trade restrictions and any disruptions in the supply chain, such as those related to international transport, could result in higher costs and lower margins or affect the ability of the Telef&#243;nica Group to offer its products and services and could adversely affect the Group's business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica operates in a sector characterized by rapid technological changes and it may not be able to anticipate or adapt to such changes or select the right investments to make.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The pace of innovation and Telef&#243;nica's ability to keep up with its competitors is a critical issue in a sector so affected by technology such as telecommunications. In this sense, significant additional investments will be needed in new high-capacity network infrastructures to enable Telef&#243;nica to offer the features that new services will demand, through the development of technologies such as 5G or fiber.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">New products and technologies are constantly emerging that can render products and services offered by the Telef&#243;nica Group, as well as its technology, obsolete. In addition, the explosion of the digital market and the entrance of new players in the communications market, such as mobile network virtual operators ("MNVOs"), internet companies, technology companies or device manufacturers, could result in a loss of value for certain of the Group's assets, affect the generation of revenues, or otherwise cause Telef&#243;nica to have to update its business model. In this respect, revenues from traditional voice businesses are shrinking, while new sources of revenues are increasingly derived from connectivity and digital services. Examples of these services include video, Internet of Things (IoT), cybersecurity, big data and cloud services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">One of the technologies currently being developed by telecommunications operators, including Telef&#243;nica (in Spain and Latin America), is the new FTTx type networks which allow the offering of broadband accesses over fiber optics with high performance. However, the deployment of such networks, in which the copper of the access loop is totally or partially replaced by fiber, requires high levels of investment. As of December 31, 2022, in Spain, fiber coverage reached 28.0 million premises. There is a growing demand for the services that these new networks can offer to the end customer. However, the high levels of investment required by these networks result in the need to continuously consider the expected return on investment, and no assurance can be given that these investments will be profitable.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the ability of the Telef&#243;nica Group's IT systems (operational and backup) to adequately support and evolve to respond to Telef&#243;nica's operating requirements is a key factor to consider in the commercial development, </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">customer satisfaction and business efficiency of the Telef&#243;nica Group. While automation and other digital processes may lead to significant cost savings and efficiency gains, there are also significant risks associated with such transformation processes. Any failure by the Telef&#243;nica Group to develop or implement IT systems that adequately support and respond to the Group's evolving operating requirements could have an adverse effect on the Group's business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The changes outlined above force Telef&#243;nica to continuously invest in the development of new products, technology and services to continue to compete effectively with current or future competitors. Any such investment may reduce the Group&#8217;s profit and margins and may not lead to the development or commercialization of successful new products or services. To contextualize the Group&#8217;s total research and development effort, the total expenditure in 2022 was 656 million euros (835 million euros in 2021, with the year-on-year change being impacted by deconsolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment in June 2021, and 959 million euros in 2020) representing 1.6% of the Group&#8217;s revenues (2.1% and 2.2% in 2021 and 2020, respectively). These figures have been calculated using the guidelines established in the Organization for Economic Co-operation and Development (&#8220;OECD&#8221;) manual.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If Telef&#243;nica is not able to anticipate and adapt to the technological changes and trends in the sector, or to properly select the investments to be made, this could negatively affect the Group's business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Telef&#243;nica Group's strategy, which is focused on driving new digital businesses and providing data-based services, involves exposure to risks and uncertainties arising from data privacy regulation.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s commercial portfolio includes products and/or services which are based on the use, standardization and analysis of data, as well as the deployment of advanced networks and the promotion of new technologies related to Big Data, cloud computing, cybersecurity, Artificial Intelligence and IoT.  </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The large amount of information and data that is processed throughout the Group (related to approximately 383.1 million accesses associated with telecommunications services, digital products and services and Pay TV as of December 31, 2022 and an average number of employees of 102,563 in 2022), increases the challenges of complying with privacy regulations. Moreover, there is a risk that measures adopted in response to these regulations may stifle innovation. Conversely, the Group&#8217;s efforts to promote innovation may result in potential increased compliance privacy risks and, where applicable, costs.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica is subject to Regulation (EU) 2016/679 of the European Parliament and Council of April 2016, on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (&#8220;GDPR&#8221;), whose content has become the common standard for all countries where the Telef&#243;nica Group operates. In addition, progress continues to be made on the proposal for a future European regulation concerning the respect for privacy and protection of personal data in electronic communications (&#8220;e-Privacy Regulation&#8221;), which would repeal Directive 2002/58/EC. If approved, this proposal could establish additional and more restrictive rules than those established in the GDPR, with the consequent increase in the risks and costs that this could entail for Telef&#243;nica.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Moreover, considering that the Telef&#243;nica Group operates its business on a global scale, it frequently carries out international data transfers concerning its customers, users, suppliers, employees and other data subjects to countries outside the EEA that have not been declared to have an adequate level of data protection by the European Commission, either directly or through third parties. In this context, it is particularly relevant to have the necessary controls in place to ensure that such international data transfers are carried out in accordance with the GDPR, in an environment marked by uncertainty on this issue as to the adequate and effective measures to mitigate such risks. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">One of the relevant contractual measures to ensure the lawfulness of international data transfers to any country outside the EEA not found by the European Commission to have an adequate level of data protection, is the signing, between the data importer and the data exporter, of the new standard contractual clauses (&#8220;SCC&#8221;) approved by the European Commission according to Implementing Decision (EU) 2021/914 of June 4, 2021. These new SCC, which entered into force on June 27, 2021, repeal the old SCC and include a modular set of clauses for their application according to the data processing role of both the exporter and the importer. Furthermore, the entry into force of the new SCC obliges companies that are going to use them for their transfers to assess and adopt additional measures deemed appropriate for the due protection of the data transferred to the third country. This is because SCC, in general, according to the Court of Justice of the European Union (CJEU), are not sufficient for this purpose, as the public authorities of the third country, in accordance with their local regulations, may have the power </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to access or request access to the data transferred. The additional measures to be adopted are mainly technical such as data encryption and derive in particular from the impact analysis of each transfer and the country of destination, all following the guidelines issued by the European Data Protection Board in its Recommendations 01/2020. Furthermore, the adoption of the new SCC by the European Commission as the main legal tool for transfers, obliges companies to replace the old SCC, as the old SCC ceased to be legally valid at the end of 2022 in accordance with the aforementioned Implementing Decision. The implementation of the new SCC and their module structure and dispositive parts, which need to be negotiated between data exporters and importers, the obligation to assess and analyze each international transfer, the changing nature of the local regulations of the countries of destination, as well as the obligation to renew all agreements that include the old SCC, pose a challenge for the Group and, with it, a potential risk of non-compliance in the performance of international data transfers in accordance with the GDPR.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the international data transfer to the United States of America, on October 7, 2022, the U.S. President signed an executive order directing the steps that the United States will take to implement the U.S. commitments to improve the European Union&#8211;U.S. Data Privacy Framework in light of the judgment of the CJEU C-311/18. In connection with this U.S. initiative, the European Commission published in December 2022 a draft adequacy decision that would facilitate the transfer of data to the United States of America, which, like its predecessors, the International Safe Harbor Privacy Principles and the EU-U.S. Privacy Shield, is based on a self-regulatory approach, whereby U.S. companies that undertake to comply with the principles set out in the Privacy Framework will be able to self-certify as "adequate undertakings". They will thus be able to import data from the EU to the U.S. if they commit to providing an adequate level of protection to the data transferred.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While this represents an improvement in the regulatory landscape for international data transfers and the risks associated with them, the approval of this new adequacy decision for the United States is subject to the non-binding review by the European Data Protection Committee and the Civil Liberties Committee of the European Parliament, as well as the mandatory and binding approval by the Member States in the Council, which is not expected to occur until mid-2023. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the United Kingdom's exit from the European Union on January 1, 2021 means that the Group must monitor how its operations and business in the United Kingdom are affected in terms of applicable privacy regulations and, specifically, the flow of data to and from the United Kingdom. The European Commission declared the United Kingdom as a country with an adequate level of data protection according to the Adequacy Decision of June 28, 2021. Accordingly, entities that transfer data between both territories will not be required to adopt additional tools or measures for international transfers. The Adequacy Decision establishes an initial period of validity of four years, which may be extended only if the United Kingdom demonstrates that it continues to ensure an adequate level of data protection. In this regard, since European Union regulations no longer apply in the United Kingdom, the UK government has published a draft reform of its local privacy and data protection regulations in June 2022, which, if it finally passes through parliamentary procedures and is approved, aims to update these regulations to address new technological challenges and business opportunities in the use of data. The result and approval of this amendment could impact the Telef&#243;nica Group&#8217;s business in the United Kingdom and the aforementioned international data transfers to and from the United Kingdom, either because additional regulatory restrictions or impositions are imposed that reduce the capacity for innovation and the development of new services and products, or because the European Union authorities consider that the United Kingdom is no longer a country with an adequate level of data protection, in which case the Telef&#243;nica Group may face similar challenges and risks as it is currently facing with respect to data transfers to the United States or other territories not declared as having an adequate level of protection.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Latin America, Law No. 13,709 in Brazil imposes standards and obligations similar to those required by the GDPR, including a sanctioning regime which is in force from August 2021, with fines for non-compliance of up to 2% of the Group&#8217;s income in Brazil in the last financial year subject to a limit of 50 million Brazilian reais (approximately 9.1 million euros based on the exchange rate as of December 31, 2022) per infraction which may increase compliance risks and costs. In addition, in 2022 the Brazilian data protection authority, Autoridade Nacional de Prote&#231;&#227;o de Dados (ANPD), became an independent agency not linked to the presidency of the Republic, thus providing it with additional autonomy to develop its control and supervision functions.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, in Ecuador, the Organic Law on Data Protection has entered into force, aligned with the principles of the European GDPR, although the effectiveness of the sanctioning regime is postponed for a two-year adaptation period which ends in 2023. In addition, Argentina has ratified Convention 108+, which is an international treaty of the Council of Europe which is open to accession by any state outside Europe, and which regulates the protection of the rights of individuals with regard to the automated processing of their data, in a very similar way to the </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">22</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">protection granted by virtue of the GDPR. Likewise, in Chile and other territories in the region where Telef&#243;nica operates, there are regulatory proposals to bring regulation more in line with the provisions set forth in the GDPR, which may increase compliance risks and costs.   </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Data privacy protection requires careful design of products and services, as well as robust internal procedures and rules that can be adapted to regulatory changes where necessary, all of which entails compliance risk. Failure to maintain adequate data security and to comply with any relevant legal requirements could result in the imposition of significant penalties, damage to the Group&#8217;s reputation and the loss of trust of customers and users. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s reputation depends to a large extent on the digital trust it is able to generate among its customers and other stakeholders. In this regard, in addition to any reputational consequences, it is important to note that, in the European Union, very serious breaches of the GDPR may entail the imposition of administrative fines of up to the larger of 20 million euros or 4% of the infringing company&#8217;s overall total annual revenue for the previous financial year. Furthermore, once it is approved, the e-Privacy Regulation may set forth sanctions for breaches of it similar to those provided for in the GDPR.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any of the foregoing could have an adverse effect on the business, financial condition, results of operations and/or cash flows of the Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica may not anticipate or adapt in a timely manner to changing customer demands and/or new ethical or social standards, which could adversely affect Telef&#243;nica's business and reputation.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To maintain and improve its position in the market vis-&#224;-vis its competitors, it is vital that Telef&#243;nica: (i) anticipates and adapts to the evolving needs and demands of its customers, and (ii) avoids commercial or other actions or policies that may generate a negative perception of the Group or the products and services it offers, or that may have or be perceived to have a negative social impact. In addition to harming Telef&#243;nica's reputation, such actions could also result in fines and sanctions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to respond to changing customer demands, Telef&#243;nica needs to adapt both (i) its communication networks and (ii) its offering of digital services. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The networks, which had historically focused on voice transmission, are evolving into increasingly flexible, dynamic and secure data networks, replacing, for example, old copper telecommunications networks with new technologies such as fiber optics, which facilitate the absorption of the exponential growth in the volume of data demanded by the Group's customers. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to digital services, customers require an increasingly digital and personalized experience, as well as a continuous evolution of the Group&#8217;s product and service offering. In this sense, new services such as &#8220;Smart Wi-Fi&#8221;, &#8220;Connected Car&#8221;, &#8220;Smart Cities&#8221;, &#8220;Smart Agriculture&#8221; and &#8220;Smart Metering&#8221; which facilitate certain aspects of the Group&#8217;s customers&#8217; digital lives, are being developed. Furthermore, new solutions for greater automation in commercial services and in the provision of the Group&#8217;s services are being developed, through new apps and online platforms that facilitate access to services and content, such as new video platforms that offer both traditional Pay TV, video on demand or multi-device access. However, there can be no assurance that these and other efforts will be successful. For example, if streaming television services, such as Netflix or others, become the principal way television is consumed to the detriment of the Group&#8217;s Pay TV service, the Group&#8217;s revenues and margins could be affected.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the development of all these initiatives it is also necessary to take into account several factors: firstly, there is a growing social and regulatory demand for companies to behave in a socially responsible manner, and, in addition, the Group&#8217;s customers are increasingly interacting through online communication channels, such as social networks, in which they express this demand. Telef&#243;nica&#8217;s ability to attract and retain clients depends on their perceptions regarding the Group&#8217;s reputation and behavior. The risks associated with potential damage to a brand&#8217;s reputation have become more relevant, especially due to the impact that the publication of news through social networks can have.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If Telef&#243;nica is not able to anticipate or adapt to the evolving needs and demands of its customers or avoid inappropriate actions, its reputation could be adversely affected, or it could otherwise have an adverse effect on the business, financial condition, results of operations and/or cash flows of the Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Operational Risks.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Information technology is key to the Group's business and is subject to cybersecurity risks.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The risks derived from cybersecurity are among the Group&#8217;s most relevant risks due to the importance of information technology to its ability to successfully conduct operations. Despite advances in the modernization of the network and the replacement of legacy systems in need of technological renewal, the Group operates in an environment increasingly prone to cyber-threats and all of its products and services are intrinsically dependent on information technology systems and platforms that are susceptible to cyberattacks. Successful cyberattacks could prevent the effective provision, operation and commercialization of products and services in addition to affecting their use by customers. Therefore, it is necessary to continue to identify and remedy any technical vulnerabilities and weaknesses in the Group&#8217;s operating processes, as well as to strengthen its capabilities to detect, react and recover from incidents. This includes the need to strengthen security controls in the supply chain (for example, by focusing on the security measures adopted by the Group&#8217;s providers and other third parties), as well as to ensure the security of the services in the cloud. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telecommunications companies worldwide face continuously increasing cybersecurity threats as businesses become increasingly digital and dependent on telecommunications, computer networks and cloud computing technologies. As a result of the circumstances brought by the COVID pandemic, remote access and teleworking of employees and collaborators has spread and is now a common practice, increasing the use of cloud services; thus, the risks associated with their use, and forcing companies to review the security controls beyond the perimeter of the corporate network. Further, the Telef&#243;nica Group is aware of the possible cybersecurity risks arising from the conflict in Ukraine, monitoring cyberattacks that may affect our infrastructure, and maintaining contact with national and international organizations to obtain cyberintelligence information, without having so far detected a significant increase in attacks in our perimeter compared to other previous periods, though this may change in the future. Cybersecurity threats may include gaining unauthorized access to the Group&#8217;s systems or propagating computer viruses or malicious software, to misappropriate sensitive information like customer data or disrupt the Group&#8217;s operations. In addition, traditional security threats, such as theft of laptop computers, data devices and mobile phones may also affect the Group along with the possibility that the Group&#8217;s employees or other persons may have access to the Group&#8217;s systems and leak data and/or take actions that affect the Group&#8217;s networks or otherwise adversely affect the Group or its ability to adequately process internal information or result in regulatory penalties.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In particular, in the past three years, the Group has suffered several cybersecurity incidents. Attacks during this period include (i) intrusion attempts (direct or phishing), exploitation of vulnerabilities and corporate credentials being compromised; (ii) Distributed Denial of Service (DDoS) attacks, using massive volumes of Internet traffic that saturate the service; and (iii) exploitation of vulnerabilities to carry out fraud through online channels, usually through the subscription of services without paying for them. None of these incidents had material consequences for the Telef&#243;nica Group, but this may change in the future. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Although Telef&#243;nica seeks to manage these risks by adopting technical and organizational measures as defined in its digital security strategy, such as the use of early vulnerabilities detection, access control, log review of critical systems and network segregation, as well as the deployment of firewalls, intrusion-prevention systems, virus scanners and backup systems, it can provide no assurance that such measures are sufficient to avoid or fully mitigate such incidents. Therefore, the Telef&#243;nica Group has insurance policies in place, which could cover, subject to the policies terms, conditions, exclusions, limits and sublimits of indemnity, and applicable deductibles, certain losses arising out of these types of incidents. To date, the insurance policies in place have covered some incidents of this nature, however due to the potential severity and uncertainty about the evolution of the aforementioned events, these policies may not be sufficient to cover all possible losses arising out of these risks.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Climate change, natural disasters and other factors beyond the Group's control may result in physical damage to our technical infrastructure that may cause unanticipated network or service interruptions or quality loss or otherwise affect the Group's business.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Climate change, natural disasters and other factors beyond the Group's control, such as system failures, lack of electric supply, network failures, hardware or software failures, theft of network elements or cyber-attacks can damage our infrastructure and affect the quality of, or cause interruption to, the provision of the services of the Telef&#243;nica Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, changes in temperature and precipitation patterns associated with climate change may increase the energy consumption of telecommunications networks or cause service disruption due to extreme temperature waves, floods or extreme weather events. These changes may cause increases in the price of electricity due to, for example, reduction in hydraulic generation as a result of recurrent droughts. Further, as a result of global commitments to tackle climate change, new carbon dioxide taxes may be imposed and could affect, directly or indirectly, Telef&#243;nica, and may have a negative impact on the Group&#8217;s operations results. Telef&#243;nica analyses these risks in accordance with the recommendations of the Task Force on Climate-Related Financial Disclosures (&#8220;TCFD&#8221;).   </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">24</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Network or service interruptions or quality loss or climate-related risks could cause customer dissatisfaction, a reduction in revenues and traffic, the realization of expensive repairs, the imposition of sanctions or other measures by regulatory bodies, and damage to the image and reputation of the Telef&#243;nica Group, or could otherwise have an adverse effect on the business, financial condition, results of operations and/or cash flows of the Group.</span></div><div style="margin-bottom:10pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Financial Risks.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:10pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Worsening of the economic and political environment could negatively affect Telef&#243;nica's business. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s international presence enables the diversification of its activities across countries and regions, but it exposes Telef&#243;nica to diverse legislation, as well as to the political and economic environments of the countries in which it operates. Any adverse developments in this regard, including inflationary pressures, rapid normalization of monetary policy, exchange rate or sovereign-risk fluctuations, as well as growing geopolitical tensions, may adversely affect Telef&#243;nica&#8217;s business, financial position, debt management, cash flows and results of operations and/or the performance of some or all of the Group&#8217;s financial indicators. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Russia&#8217;s invasion of Ukraine opened a period that has been characterized by extraordinary uncertainty and the simultaneous concurrence of multiple negative shocks. Inflationary pressures, arising from bottlenecks associated with the rapid recovery from the pandemic, have been exacerbated by two phenomena that are closely related to the Russian invasion; i) the largest energy crisis since 1970s (17.7% of GDP spent on energy in 2022 vs. 10.2% in 2019 in OECD countries) and ii) the highest increase in world food prices in recent history, resulting in inflation rates not seen in the last 40 years. The persistence of shocks led inflationary pressures to become more broad-based, with higher costs increasingly being passed through to the final prices of other goods and services, leading to strong response from central banks (interest rate hikes and liquidity withdrawal) and a significant loss of consumer purchasing power. Further, it is likely that the transmission of past increases in energy prices and other imported goods to final prices has not yet been completed, which will continue to put some upward pressure in the short term. These inflationary pressures have also been contributed to by the increasing wage demands that have been observed at the international level, reflecting both the strength of labor markets, especially those of the main developed economies, and the prevalence (although to a lesser extent than in the past) of wage indexation mechanisms. Moreover, there is a risk that global liquidity reduction and high interest rates could generate greater financial volatility leading to episodes of stress, such as those observed in the United Kingdom, especially if inflation turns out to be more persistent than previously expected. Also, premature monetary easing by central banks could lead to inflationary rebound that could generate a new period of stagflation as in the 1970s. Going forward, elements that could worsen the effects of the current situation include the escalation of the armed conflict and potential disruptions to energy supply and possible further increases in commodity prices, with a potential de-anchoring of inflation expectations and higher-than-expected wage demands, prolonging and amplifying the inflation-recession scenario. As a result of the above, economic growth is expected to decelerate further in the near term, with a significant risk of recession in many parts of the world.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">So far, the main European countries where the Group operates have been affected through the price channel (higher commodity prices, intermediate inputs and salary costs, among others), as their trade and financial exposure is limited. However, in Europe there is concern about the energy situation for both this and next winter if climate conditions worsen in the face of a possible gas shortage. Latin America could be affected by lower external demand associated with slower global growth, deteriorating terms of trade and tighter financial conditions.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the contribution of each segment to Telef&#243;nica Group's total assets was as follows: Telef&#243;nica Spain 25.5% (22.9% as of December 31, 2021), VMO2 9.8 % (11.1% as of December 31, 2021), Telef&#243;nica Germany 17.5% (18.3 % as of December 31, 2021), Telef&#243;nica Brazil 22.7% (19.7% as of December 31, 2021) and Telef&#243;nica Hispam 14.5% (14.3% as of December 31, 2021). Part of the Group's assets are located in countries that do not have an investment grade credit rating (in order of importance, Brazil, Argentina, Ecuador and Venezuela). Likewise, Venezuela and Argentina are considered countries with hyperinflationary economies in 2022 and 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks are detailed by geography below: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Europe, there are several risks of an economic and political nature. First, the development of the armed conflict between Russia and Ukraine constitutes the main risk factor on growth and inflation prospects. Any worsening of the supply of gas, oil or food (such as the total shutdown of flows from Russia) would have a negative impact on their prices with a consequent impact on disposable income. In the medium term, this could lead to a stronger pass-through to final consumer prices, which could result in higher-than-expected wage increases, a persistent rise in </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">inflation expectations and an even tighter monetary policy. All of the above would be added to the economic risks existing prior to the conflict, such as the consequences of an increase in the cost of financing conditions, both for the private and public sectors (more accelerated than expected a few months ago) which could trigger episodes of financial stress. Finally, there is a risk of financial fragmentation in the transmission of monetary policy in the Eurozone, which means that interest rates may react differently in different countries across the Eurozone, leading to differences in the yields of bonds issued by peripheral countries (such as Spain) and those issued by central countries, which would make access to credit more difficult for the former.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Spain</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: there are several local sources of risks. One of them stems from the risk that supply disruptions will have a more persistent negative economic impact than expected, and high commodity prices and/or the emergence of second round effects, prolonging the inflationary episode with a deeper impact on household income. Secondly, and although the disbursement of European funds (NGEU) appears to be gaining traction, further delays or even designing flaws could limit their final impact on GDP growth and employment. In addition, as one of the most open countries in the world, from a commercial point of view, being among the top ten countries in respect of capital outflows and inflows globally, the rise of protectionism and trade restrictions could have significant implications. Lastly, the impact of rising interest rates could be a source of financial stress due to high public indebtedness and lead to a possible correction in the real estate market.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Germany</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: in the short term, the main sources of risk relate to the country&#8217;s energy supply (as 35% of energy came from Russia before the conflict) and the prolongation of bottlenecks in the supply of raw materials and intermediate goods in the manufacturing sector, which could continue to limit the expansion of economic activity. Among the risks associated with energy supply, there is a risk of unusually low temperatures that could lead to higher gas consumption requirements and may affect the ability to secure necessary gas supplies. On the other hand, there is concern that higher-than-expected wage growth could lead to a stronger inflationary cycle. As for the medium to long term, there is a risk that a potential escalation of geopolitical tensions could reduce international trade, with a consequent impact on the country&#8217;s potential growth, which is dependent on exports. In addition, long-term challenges remain, such as the aging of the population.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:9.32pt">United Kingdom</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: an intensification of inflationary pressures could weigh on consumption and further depress economic growth. In particular, there is a concern that wage growth could lead to a further increase in the prices of goods and services, preventing inflation rates from normalizing as quickly as anticipated. On the other hand, although the UK economy has few direct trade links with Russia and Ukraine, it is vulnerable to developments in the global energy market as it is the second European economy with the largest share of gas in the energy mix. In addition, Britain imports gas and electricity from the European continent during the coldest months, so a confluence of an abnormally cold winter and a cut-off of Russian gas to Europe could lead to energy shortages. On the political front, recent social polarization could detract political capital from the incoming executive, becoming another source of uncertainty in the short to medium term. Finally, the formal exit of the United Kingdom from the European Union on December 31, 2020 (Brexit) has created new barriers to trade in goods and services, mobility and cross-border exchanges, which will entail an economic adjustment in the medium term. Northern Ireland's post-Brexit status and the difficulties associated with the implementation of the Northern Ireland Protocol will continue to be a source of tension. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Latin America, the exchange risk is moderate but may increase in the future. The end of electoral events and rapid central bank actions to contain inflation may, at least partially, limit the impact of external risks (global trade tensions, abrupt movements in commodity prices, concerns about global growth, tightening U.S. monetary policy and financial imbalances in China) and internal risks (managing the monetary normalization and the possible underlying fiscal deterioration).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:9.32pt">Brazil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: fiscal sustainability remains the main domestic risk, especially considering the recent approval of extraordinary spending of ~2% of GDP by 2023. The new administration&#8217;s initial signals are towards greater economic interventionism, the repeal of the spending cap and the review of the privatization agenda. Political negotiations could be affected by social polarization. Uncertainty now centers on the unknown economic guidelines for the coming years of the new government, including the definition of a new fiscal rule, expenditure increase and the economic reform agenda. Given this context, domestic asset prices, including the exchange rate, continue to show high volatility. In addition, higher fiscal risks have also affected inflation expectations, which have increased since December 2022, remaining above the targets for the monetary policy&#8217;s relevant horizon (2023 and 2024). In this regard, there is a risk that interest rates will be above the levels expected a few months ago, which would imply a downward bias for GDP growth in 2023.  </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Argentina</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: macroeconomic and exchange rate risks remain high. The main domestic challenges are achieving political consensus to reduce the public deficit and rebuilding international reserves in a context of high inflation, in order to allow the country to meet the targets agreed with the International Monetary Fund. On the external front, a global slowdown resulting in lower demand for exported products and their prices would imply lower hard currency inflows, which would increase vulnerability to volatility in international financial markets. Finally, the application of unorthodox price control measures and increasing foreign exchange restrictions could affect Telef&#243;nica's profitability.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Chile, Colombia and Peru</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: these countries are exposed not only to changes in the global economy, given their vulnerability and exposure to changes in commodity prices, but also to tightening of global financial conditions. On the domestic side, existing political instability and the possibility of further social unrest and the resurgence of populism could have a negative impact in both the short and medium term. In this regard, measures that result in excessive growth in public spending that jeopardize fiscal balance could have a negative impact on sovereign credit ratings, further deteriorating local financing conditions. High inflation threatens to be more persistent than expected, which would limit central banks' ability to respond to an abrupt drop in activity levels and would also increase the risk on financial stability. In political terms, uncertainty prevails both in Chile, due to the new constituent process underway, and in Colombia, due to the impact that the tax and pension reforms promoted by the President may have on private investment. In Peru, political instability could continue despite the installation of the new government due to the lack of support both in chambers and at the grassroots level. </span><span style="color:#50535a;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As discussed above, the countries where the Group operates are generally facing significant economic uncertainties and, in some cases, political uncertainties. The worsening of the economic and political environment in any of the countries where Telef&#243;nica operates may materially adversely affect the Group&#8217;s business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Group has and, in the future, could experience impairment of goodwill, investments accounted for by the equity method, deferred tax assets or other assets.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with current accounting standards, the Telef&#243;nica Group reviews on an annual basis, or more frequently when the circumstances require it, the need to introduce changes to the book value of its goodwill (which as of December 31, 2022, represented 16.8% of the Group&#8217;s total assets), investments accounted for by the equity method (which represented 10.6% of the Group's total assets as of December 31, 2022), deferred tax assets (which as of December 31, 2022, represented 4.5% of the Group&#8217;s total assets), or other assets, such as intangible assets (which represented 11.0% of the Group&#8217;s total assets as of December 31, 2022), and property, plant and equipment (which represented 21.6% of the Group&#8217;s total assets as of December 31, 2022). In the case of goodwill, the potential loss of value is determined by the analysis of the recoverable value of the cash-generating unit (or group of cash-generating units) to which the goodwill is allocated at the time it is originated, and such calculation requires significant assumptions and judgment. In 2022 impairment losses in other assets of Telef&#243;nica Argentina were recognized for a total of 77 million euros. In 2021 impairment losses in the goodwill of Telef&#243;nica del Per&#250; were recognized for a total of 393 million euros and in 2020 impairment losses in the goodwill and other assets of Telef&#243;nica Argentina were recognized for a total of 894 million euros.   </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, Telef&#243;nica may not be able to realize deferred tax assets on its statement of financial position to offset future taxable income. The recoverability of deferred tax assets depends on the Group&#8217;s ability to generate taxable income over the period for which the deferred tax assets remain deductible. If Telef&#243;nica believes it is unable to utilize its deferred tax assets during the applicable period, it may be required to record an impairment against them resulting in a non-cash charge on the income statement. By way of example, in 2021 deferred tax assets corresponding to the tax Group in Spain amounting to 294 million euros were derecognized (101 million euros in 2020).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further impairments of goodwill, deferred tax assets or other assets may occur in the future which may materially adversely affect the Group&#8217;s business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Group faces risks relating to its levels of financial indebtedness, the Group's ability to finance itself, and its ability to carry out its business plan.</span><span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operation, expansion and improvement of the Telef&#243;nica Group's networks, the development and distribution of the Telef&#243;nica Group's services and products, the implementation of Telef&#243;nica's strategic plan and the development of new technologies, the renewal of licenses and the expansion of the Telef&#243;nica Group's business in countries where it operates, may require a substantial amount of financing. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group is a relevant and frequent issuer of debt in the capital markets. As of December 31, 2022, the Group&#8217;s gross financial debt amounted to 39,079 million euros (42,295 million euros as of December 31, 2021), and the Group&#8217;s net financial debt amounted to 26,687 million euros (26,086 million euros as of December 31, 2021). As of December 31, 2022, the average maturity of the debt was 13.1 years (13.6 years as of December 31, 2021), including undrawn committed credit facilities.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A decrease in the liquidity of Telef&#243;nica, or a difficulty in refinancing maturing debt or raising new funds as debt or equity could force Telef&#243;nica to use resources allocated to investments or other commitments to pay its financial debt, which could have a negative effect on the Group's business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Funding could be more difficult and costly to obtain in the event of a deterioration of conditions in the international or local financial markets due, for example, to monetary policies set by central banks, including increases in interest rates and/or decreases in the supply of credit, increasing global political and commercial uncertainty and oil price instability, or if there is an eventual deterioration in the solvency or operating performance of Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Group&#8217;s gross financial debt scheduled to mature in 2023 amounted to 4,020 million euros, and gross financial debt scheduled to mature in 2024 amounted to 2,010 million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with its liquidity policy, Telef&#243;nica has covered its gross debt maturities for the next 12 months with cash and credit lines available as of December 31, 2022. As of December 31, 2022, the Telef&#243;nica Group had undrawn committed credit facilities arranged with banks for an amount of 11,737 million euros (11,434 million euros of which were due to expire in more than 12 months). Liquidity could be affected if market conditions make it difficult to renew undrawn credit lines. As of December 31, 2022, 2.6% of the aggregate undrawn amount under credit lines was scheduled to expire prior to December 31, 2023.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">     </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, given the interrelation between economic growth and financial stability, the materialization of any of the economic, political and exchange rate risks referred to above could adversely impact the availability and cost of Telef&#243;nica's financing and its liquidity strategy. This in turn could have a negative effect on the Group's business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, any downgrade in the Group&#8217;s credit ratings may lead to an increase in the Group's borrowing costs and could also limit its ability to access credit markets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Group's financial condition and results of operations may be adversely affected if it does not effectively manage its exposure to interest rates or foreign currency exchange rates.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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); (ii) the value of long-term liabilities at fixed interest rates; and (iii) financial expenses and principal payments of inflation-linked financial instruments, considering interest rate risk as the impact of changes in inflation rates. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In nominal terms, as of December 31, 2022, 88% of the Group&#8217;s net financial debt had its interest rate set at fixed interest rates for periods of more than one year. The effective cost of interest payments for the last 12 months was 3.86% as of December 31, 2022 compared to 3.77% as of December, 2021. To illustrate the sensitivity of financial expenses to variations in short-term interest rates as of December 31, 2022: (i) a 100 basis point increase in interest rates in all currencies in which Telef&#243;nica had a financial position at that date would have led to an increase in financial expenses of 34 million euros, whereas (ii) a 100 basis point decrease in interest rates in all currencies (even if negative rates are reached), would have led to a reduction in financial expenses of 34 million euros. For the preparation of these calculations, a constant position equivalent to the position at that date is assumed of net financial debt.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exchange rate risk arises primarily from: (i) Telef&#243;nica&#8217;s international presence, through its investments and businesses in countries that use currencies other than the euro (primarily in Latin America and 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) trade receivables or payables in a foreign currency to the currency of the company with which the transaction was registered. According to the Group&#8217;s calculations, the impact on results, and specifically on net exchange differences, due to a 10% depreciation of Latin American currencies against the U.S. dollar and a 10% depreciation of the rest of the currencies to which the Group is most exposed, against the euro would result in exchange gains of 11 million euros as of December 31, 2022 and a 10% appreciation of Latin American currencies against the U.S. dollar and a 10% appreciation of the rest of the </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">28</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">currencies to which the Group is most exposed, would result in exchange losses of 11 million euros as of December 31, 2022. These calculations have been made assuming a constant currency position with an impact on profit or loss for 2022 taking into account derivative instruments in place. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the evolution of exchange rates positively impacted the Group&#8217;s results, increasing the year-on-year growth of the Group&#8217;s consolidated revenues and OIBDA by an estimated 4.5 percentage points and 3.0 percentage points, respectively, mainly due to the evolution of the Brazilian real (negative impact of 2.3 percentage points and 2.7 percentage points, respectively, in 2021). Furthermore, translation differences as of December 31, 2022 had a positive impact on the Group&#8217;s equity of 1,169 million euros (4,088 million euros as of December 31, 2021).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group uses a variety of strategies to manage this risk including, among others, the use of financial derivatives, which are also exposed to risk, including counterparty risk. The Group's risk management strategies may be ineffective, which could adversely affect the Group's business, financial condition, results of operations and/or cash flows. If the Group does not effectively manage its exposure to foreign currency exchange rates or interest rates, it may adversely affect its business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Legal and Compliance Risks.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica and Telef&#243;nica Group companies are party to lawsuits, antitrust, tax claims and other legal proceedings.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica and Telef&#243;nica Group companies operate in highly regulated sectors and are and may in the future be party to lawsuits, tax claims, antitrust and other legal proceedings in the ordinary course of their businesses, the outcome of which is unpredictable. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group is subject to regular reviews, tests and audits by tax authorities regarding taxes in the jurisdictions in which it operates and is a party and may be a party to certain judicial tax proceedings. In particular, the Telef&#243;nica Group is currently party to certain tax and regulatory proceedings in Brazil, primarily relating to the ICMS (a Brazilian tax on telecommunication services) and the corporate tax. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil maintained provisions for tax contingencies amounting to 446 million euros and provisions for regulatory contingencies amounting to 336 million euros as of December 31, 2022. In addition, Telef&#243;nica Brazil faces possible tax contingencies for which no provisions are made (see "Item 8. Financial Information&#8212;Consolidated Financial Statement&#8212;Tax Proceedings&#8212;Telef&#243;nica Brazil"). Further, the Group makes estimates for its tax liabilities that the Group considers reasonable, but if a tax authority disagrees, the Group could face additional tax liability, including interest and penalties. There can be no guarantee that any payments related to such contingencies or in excess of our estimates will not have a significant adverse effect on the Group&#8217;s business, results of operations, financial condition and/or cash flows. In addition to the most significant litigation indicated above, further details on these matters are provided in Notes 25 and 29 to the Consolidated Financial Statements. The details of the provisions for litigation, tax sanctions and claims can be found in Note 24 of the Consolidated Financial Statements. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Group is also party to certain litigation in Peru concerning certain previous years' income taxes in respect of which Telef&#243;nica has been notified that the judicial resolutions which resolve the contentious administrative processes are unfavorable to the Group and will require it to pay taxes related to prior years. At the end of the relevant proceedings, the Tax Administration, through an administrative act, will determine the amount of the payment obligation. The estimated impact of the aforementioned judicial resolutions is already provisioned in Telef&#243;nica's financial statements, with the total provision as of December 31, 2022 amounting to 3,849 million Peruvian soles (approximately 945 million euros at the exchange rate at such date).                                </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">An adverse outcome or settlement in these or other proceedings, present or future, could result in significant costs and may have a material adverse effect on the Group's business, financial condition, results of operations and/or cash flows.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Increased scrutiny and changing expectations from stakeholders, evolving reporting and other legal obligations and compliance with the Company's own goals regarding ESG matters, may expose the Company to various risks.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group may be unable to adapt to or comply with increasingly demanding expectations from analysts, investors, customers and other stakeholders and new regulatory reporting or other legal requirements related to </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">29</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ESG issues. Further, expectations and requirements may differ from region to region, may be based on diverging calculation or other criteria and may experience material changes as they still are at their emerging phase.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, the Group's disclosure of information on its ESG objectives and initiatives in its public reports and other communications (including its CO</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:1.41pt;vertical-align:baseline">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> emission reduction targets) subjects it to the risk that it will fail to achieve these objectives and initiatives.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although Telef&#243;nica is working to comply with new ESG reporting requirements, to achieve its objectives, and to meet the expectations of its stakeholders in these matters, if the Company is unable to meet these expectations, fails to adequately address ESG matters or fails to achieve the reported objectives (including its CO</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:1.41pt;vertical-align:baseline">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> emission reduction targets), the Telef&#243;nica Group&#8217;s reputation, its business, financial position, results of operations and/or cash flows could be materially and adversely affected.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Telef&#243;nica Group is exposed to risks in relation to compliance with anti-corruption laws and regulations and economic sanctions programs.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group is required to comply with the anti-corruption laws and regulations of the jurisdictions where it conducts operations around the world, including in certain circumstances with laws and regulations having extraterritorial effect such as the U.S. Foreign Corrupt Practices Act of 1977 and the United Kingdom Bribery Act of 2010. The anti-corruption laws generally prohibit, among other conduct, providing anything of value to government officials for the purposes of obtaining or retaining business or securing any improper business advantage or failing to keep accurate books and records and properly account for transactions. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this sense, due to the nature of its activities, the Telef&#243;nica Group is increasingly exposed to this risk, which increases the likelihood of occurrence. In particular, it is worth noting the continuous interaction with officials and public administrations in several areas, including the institutional and regulatory fronts (as the Telef&#243;nica Group carries out a regulated activity in different jurisdictions), the operational front (in the deployment of its network, the Telef&#243;nica Group is subject to obtaining multiple activity permits) and the commercial front (the Telef&#243;nica Group provides services directly and indirectly to public administrations). Moreover, Telef&#243;nica is a multinational group subject to the authority of different regulators and compliance with various regulations, which may be domestic or extraterritorial in scope, civil or criminal, and which may lead to overlapping authority in certain cases. Therefore, it is very difficult to quantify the possible impact of any breach, bearing in mind that such quantification must consider not only the economic amount of sanctions, but also the potential negative impact on the business, reputation and/or brand, or the ability to contract with public administrations.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the Telef&#243;nica Group&#8217;s operations may be subject to, or otherwise affected by, economic sanctions programs and other forms of trade restrictions (&#8220;sanctions&#8221;) including those administered by the United Nations, the European Union, the United States, including by the U.S. Treasury Department&#8217;s Office of Foreign Assets Control and the United Kingdom. The sanctions regulations restrict the Group&#8217;s business dealings with certain sanctioned countries, territories, individuals and entities and may impose certain trade restrictions, among others, export and/or import trade restrictions to certain good and services. In this context, the provision of services by a multinational telecommunications group, such as the Telef&#243;nica Group, directly and indirectly, and in multiple countries, requires the application of a high degree of diligence to prevent the contravention of sanctions (which take various forms, including economic sanctions programs applicable to countries, territories, lists of entities and persons sanctioned or certain trade restrictions). Given the nature of its activity, the Telef&#243;nica Group&#8217;s exposure to these sanctions is particularly noteworthy.    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although the Group has internal policies and procedures designed to ensure compliance with the above mentioned applicable anti-corruption laws and sanctions regulations, there can be no assurance that such policies and procedures will be sufficient or that the Group's employees, directors, officers, partners, agents and service providers will not take actions in violation of the Group's policies and procedures (or, otherwise in violation of the relevant anti-corruption laws and sanctions regulations) for which the Group, its subsidiaries or they may be ultimately held responsible. In this regard, 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. Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, violations of anti-corruption laws and sanctions regulations could lead not only to financial penalties, but also to exclusion from government contracts and the revocation of licenses and </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">30</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">authorizations, and could have a material adverse effect on the Group's reputation, or otherwise adversely affect the Group's business, financial condition, results of operations and/or cash flows.</span></div><div id="i2ad619f032b2435680b3f6486d100018_52"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 4. Information on the Company</span></div><div id="i2ad619f032b2435680b3f6486d100018_55"></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. History and Development of the Company</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Overview</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. is a corporation duly organized and existing under the laws of the Kingdom of Spain, incorporated on April 19, 1924. We:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">are a diversified telecommunications group which provides a comprehensive range of services through one of the world&#8217;s largest and most modern telecommunications networks;</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">are focused on providing telecommunications services; and</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">operate principally in Europe and Latin America.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following significant events occurred in 2022:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On January 11, 2022, once the corresponding authorizations from the regulatory authorities were obtained and after the fulfillment of certain agreed conditions, the transaction between Colombia Telecomunicaciones S.A. ESP BIC (Telef&#243;nica Colombia) and a Colombian company controlled by Kohlberg Kravis Roberts ("KKR"), Onnet Fibra Colombia S.A.S, for the sale and purchase of certain fiber assets owned by Telef&#243;nica Colombia and for the provision of wholesale connectivity services by Onnet Fibra Colombia S.A.S to Telef&#243;nica Colombia, the development of activities of deployment of fiber network and other associated services, was completed. Telef&#243;nica Colombia received, as consideration, 187 million U.S. dollars (approximately 165 million euros at the exchange rate at such date) and 40% of the shares of a Spanish company controlled by KKR, Alamo HoldCo S.L., the sole shareholder of Onnet Fibra Colombia S.A.S. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On January 13, 2022, Telef&#243;nica executed an amendment to the syndicated facility agreement signed on March 15, 2018, with several domestic and international financial entities for a maximum aggregate amount of 5,500 million euros, linked to sustainability objectives: greenhouse gas emissions reduction and increase of women in executive positions.  This facility agreement is composed of a five-year single tranche revolving credit facility in an aggregate amount of up to 5,500 million euros with two annual extension options, at the request of Telef&#243;nica, for a maximum maturity of seven years. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On January 13, 2022, after the satisfaction of the closing conditions and once the relevant regulatory approvals were obtained, Telef&#243;nica Centroam&#233;rica Inversiones, S.L. (60% of which is held, directly and indirectly, by Telef&#243;nica and 40% of which is held by Corporaci&#243;n Multi Inversiones) transferred its 99.3% stake in Telef&#243;nica M&#243;viles El Salvador to General International Telecom El Salvador, S.A. de C.V. for an amount of 139 million U.S. dollars (approximately 121 million euros at the exchange rate at such date).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On January 26, 2022, Colombia Telecomunicaciones, S.A. ESP made an early repayment of its bilateral loan for 132 million U.S. dollars signed on March 24, 2020. The loan was originally scheduled to mature in 2023. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On February 1, 2022, Telef&#243;nica&#8217;s subsidiary, Pontel Participaciones, S.L. (&#8220;Pontel&#8221;), a company which is held 83.35% by Telef&#243;nica and 16.65% by Pontegadea Inversiones, S.L. (&#8220;Pontegadea&#8221;), reached an agreement with Taurus Bidco S.&#224; r.l. (&#8220;Taurus&#8221;, a company managed by KKR) for the purchase of  40% of the share capital of Telxius Telecom, S.A. (&#8220;Telxius&#8221;), held by Taurus, for an estimated amount of 215.7 million euros, being the referred price subject to, among others, adjustments derived from the sale of Telxius's towers business to American Tower. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the transaction, Pontel, which then held the remaining 60% of the share capital of Telxius, was to become the sole shareholder of Telxius. Pontegadea was to increase its holding in Pontel to 30% and Telef&#243;nica would hold a 70% stake, meaning that Pontegadea's indirect holding in Telxius would increase from 9.99% to 30% and Telef&#243;nica's indirect holding in Telxius would increase from 50.01% to 70%. The closing of the transaction, which was subject to the obtaining of the relevant regulatory and competition authorizations, took place on January 18, 2023.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On February 8, 2022, Telef&#243;nica Brasil S.A. redeemed 1,000 million Brazilian reais (approximately 166 million euros at the exchange rate as of such date) of its bond, issued on February 8, 2017.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">31</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On February 25, 2022, Telef&#243;nica filed with the United States Securities and Exchange Commission its annual report on Form 20-F for the year ended December 31, 2021.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On March 4, 2022, the Board of Directors of Telef&#243;nica resolved to call the Annual General Shareholders' Meeting to be held in Madrid, at the offices of Telef&#243;nica, S.A. located in Distrito Telef&#243;nica, Ronda de la Comunicaci&#243;n s/n, Central Building Auditorium, at 11:00 a.m. on April 8, 2022 on second call, in the event that the legally required quorum would not be reached and therefore the Meeting could not be held on the first call that had been called on  April 7, 2022 at the same place and time. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On March 21, 2022, Telef&#243;nica Tech UK &amp; Ireland, Ltd. (&#8220;T. Tech UK&#8221;) signed an agreement for the acquisition of 100% of the shares of the Scottish company Perpetual TopCo Limited, the holding company of a group of companies (&#8220;Incremental Group&#8221;) focused on the provision of advanced IT services (including business applications and data analytics) in the United Kingdom, for consideration of up to GBP 175 million (approximately 209 million euros as of such date) (including certain potential deferred payments -earn-outs-). The transaction was signed and closed simultaneously. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On March 28, 2022, Telef&#243;nica Audiovisual Digital, S.A.U. entered into an agreement with the company DAZN for the distribution of DAZN LaLiga Package. Such package included five football matches per match weekend of the Spanish First Division Football Championship, in 35 out of 38 match weekends for exploitation on pay television for residential subscribers in Spain. See "Item 10. Additional Information&#8212;Material Contracts&#8212;Football (soccer) License Agreements with LaLiga, UEFA and RFEF, respectively" for additional information.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On March 30, 2022, Telef&#243;nica Emisiones, S.A.U., under its Guaranteed Euro Programme for the Issuance of Debt Instruments ("EMTN Programme"), launched a private issuance of 100 million euros of notes in the Euro market, guaranteed by Telef&#243;nica, S.A. This issuance is due on July 13, 2040 with an original annual coupon of 1.864%. The settlement of the transaction took place on April 5, 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On April 8, 2022, the Annual General Shareholders' Meeting of Telef&#243;nica was held at second call. All the resolutions submitted were approved at the meeting. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:40.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further to the Annual General Shareholders' Meeting of Telef&#243;nica, S.A., the Board of Directors of Telef&#243;nica, following a favorable report from the Nominating, Compensation and Corporate Governance Committee, unanimously adopted the following resolutions regarding the reelection of Directors approved at the Annual General Shareholders' Meeting: (i) to reelect Mr. Jos&#233; Mar&#237;a Abril P&#233;rez as Vice-Chairman of the Board of Directors; (ii) to reelect Mr. &#193;ngel Vil&#225; Boix as Chief Operating Officer of Telef&#243;nica, S.A.; (iii) to reelect Mr. Jos&#233; Mar&#237;a Abril P&#233;rez, Mr. &#193;ngel Vil&#225; Boix and Mr. Francisco Javier de Paz Mancho as members of the Executive Commission of the Board of Directors; and (iv) that the Directors reelected and ratified and appointed by the Annual General Shareholders' Meeting that are members of any of the remaining Committees of the Board of Directors continue to be members of those Committees.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:40.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, Telef&#243;nica announced on that day that its Board of Directors resolved to carry out the implementation of the share capital reduction through the cancellation of the treasury shares approved by the Annual General Shareholders' Meeting. The share capital of Telef&#243;nica, S.A. was reduced in the amount of 139,275,057 euros, through the cancellation of 139,275,057 shares of Telef&#243;nica held as treasury stock, with a nominal value of one euro each. The reduction was carried out with a charge to unrestricted reserves, through the allocation of a reserve for cancelled share capital in an amount equal to the nominal value of the cancelled shares (i.e. for an amount of 139,275,057 euros). The share capital of Telef&#243;nica resulting from the reduction was set at 5,639,772,963 euros corresponding to 5,639,772,963 shares with a nominal value of one euro each. On April 22, 2022, the public deed relating to the share capital reduction was registered in the Commercial Registry of Madrid.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On April 8, 2022, Telef&#243;nica Brasil S.A. ("Telef&#243;nica Brasil") drew down 212 million U.S. dollars of its bilateral loan signed on April 4, 2022 and maturing in 2023.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On April 13, 2022, Telef&#243;nica Emisiones, S.A.U. redeemed 874 million euros of its notes issued on April 13, 2016. These notes were guaranteed by Telef&#243;nica, S.A.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On April 20, 2022, Telef&#243;nica informed that the closing of the transaction related to the Contract of Purchase and Sale of Shares and Other Covenants concluded on January 28, 2021 (as amended) (the "Contract"), between Telef&#243;nica Brasil, Tim S.A. and Claro, S.A. together, as the Buyers, and Oi S.A. &#8211; in Judicial Recovery (successor of Oi M&#243;vel S.A. &#8211; In Judicial Recovery) as Seller, was carried out. In this regard, Telef&#243;nica Brasil acquired all the shares of Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A., to which the mobile assets of Oi Group </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">assigned to Telef&#243;nica Brasil were contributed, in accordance with the Segregation and Division Plan stated in the Contract. See "Item 10. Additional Information&#8212;Material Contracts&#8212;Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group" for additional information.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On  April 27, 2022, the Executive Commission of the Board of Directors of Telef&#243;nica resolved that in a meeting expected to be held on  May 25, 2022, the appropriate corporate resolutions to carry out the execution of the capital increase with a charge to reserves related to the shareholder compensation through scrip dividend payment, approved by the Annual General Shareholders' Meeting held on April 8, 2022, under item VII.1 of its Agenda, will be submitted for approval of the Board of Directors of Telef&#243;nica or of its Executive Commission.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On May 9, 2022, Telef&#243;nica informed that its subsidiary Telef&#243;nica Cybersecurity &amp; Cloud Tech, S.L.U. ("Telef&#243;nica Tech") had reached an agreement with certain investment funds managed by Deutsche Private Equity GmbH (and other sellers) for the acquisition of the 100% of the shares of the German company BE-terna Acceleration Holding GmbH and its subsidiaries ("BE-terna Group"). The amount of the transaction (enterprise value or EV) was up to 350 million euros, including potential variable remunerations (earn-outs). BE-terna Group is a business group mainly dedicated to providing advanced cloud solutions for the digital transformation of companies, being a Microsoft Gold Partner. With this acquisition, Telef&#243;nica Tech strengthened its position in Germany, a strategic market for the Telef&#243;nica Group, while incorporating a growth platform in new relevant markets in Europe. The closing of the transaction was subject to the authorization of the German competition authority (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Bundeskartellamt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). The transaction closed on June 9, 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On May 18, 2022, Telef&#243;nica, through its wholly-owned subsidiary Telef&#243;nica Emisiones, S.A.U., launched in the Euro market under its EMTN Programme an issuance of notes guaranteed by Telef&#243;nica amounting to 1,000 million euros. These notes are due on  May 25, 2031, pay an annual coupon of 2.592% and were issued at par (100%), and they are listed on the regulated market of the Irish Stock Exchange plc, trading as Euronext Dublin. The net proceeds of the notes are to be allocated toward eligible investments: mainly energy efficiency coming from the network transformation from copper to fiber optic in 5G deployment, but also inclusive connectivity accelerating deployment of broadband in unconnected or underserved areas and supporting employment generation and entrepreneurships. The settlement of the transaction took place on May 25, 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On May 19, 2022, Telef&#243;nica informed that it has signed an agreement with the company Global Alconaba, S.L., for the sale of 50,147,058 shares of Promotora de Informaciones, S.A. ("Prisa"), equivalent to 7.076% of its share capital, for an amount of 0.68 euros per share, payable in cash. As a result, Telef&#243;nica's shareholding in Prisa was reduced to 13,839,900 shares, equivalent to 1.953% of Prisa's share capital at the time.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On May 25, 2022, the Executive Commission of Telef&#243;nica's Board of Directors, agreed the implementation of the capital increase with a charge to reserves related to the shareholder compensation by means of a scrip dividend, approved by the Annual General Shareholders' Meeting on April 8, 2022. Further on June 16, 2022, Telef&#243;nica announced that on June 14, 2022 the free-of-charge allotment rights trading period for Telef&#243;nica's Flexible Dividend ended. The shareholders of 25.54% of the free-of-charge allotment rights accepted the purchase commitment assumed by Telef&#243;nica. The gross amount paid by Telef&#243;nica for these rights amounted to 213,174,854.42 euros. Telef&#243;nica waived the rights thus acquired, which were amortized. On the other hand, the shareholders of 74.46% of the free-of-charge allotment rights opted to received new shares of Telef&#243;nica. Therefore, the final number of ordinary shares with a nominal value of 1 euro issued in the capital increase was 135,464,591, corresponding to 2.40% of the share capital, being the amount of the capital increase 135,464,591 euros. As a result, the amount of the share capital of Telef&#243;nica, S.A. after the capital increase was set at 5,775,237,554 euros, divided into 5,775,237,554 shares. The deed relating to the capital increase was filed with the Commercial Registry of Madrid on June 24, 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On May 27, 2022, Telef&#243;nica Emisiones, S.A.U. redeemed 938 million euros of its notes issued on May 27, 2014. These notes were guaranteed by Telef&#243;nica, S.A.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On June 27, 2022, Telxius Telecom, S.A. drew down 100 million euros of its syndicated loan signed on December 1, 2017 and maturing in 2024.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On July 14, 2022, Telef&#243;nica Brasil made an issuance of debentures for a total amount of 3,500 million Brazilian reais (approximately 628 million euros at the exchange rate as of such date) (1,500 million Brazilian reais maturing in 2025 and 2,000 million Brazilian reais maturing in 2027).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On July 25, 2022, Telef&#243;nica announced that Telef&#243;nica Espa&#241;a and Telef&#243;nica Infra, S.L.U. ("T. Infra") had reached an agreement with a consortium formed by Vauban Infrastructure Partners ("Vauban") and Cr&#233;dit Agricole </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">33</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assurances ("CAA") to incorporate a joint company, Bluevia Fibra, S.L. ("Bluevia"), for the deployment and commercialization of a fiber-to-the-home (FTTH) network mainly in rural areas in Spain. On December 20, 2022, once the corresponding regulatory authorizations were obtained and after the fulfillment of the remaining agreed conditions, the transaction was completed. Consequently, Bluevia acquired from Telef&#243;nica Espa&#241;a 3.9 million premises already passed, with the commitment -by Bluevia- of reaching Bluevia's total footprint of 5 million premises passed by the end of 2024. The consortium formed by CAA and Vauban acquired 45% of Bluevia for a total amount of 1,021 million euros in cash, paid on closing, valuing 100% of Bluevia at 2,500 million euros. See "Item 10. Additional Information&#8212;Material Contracts&#8212;Investment agreement with Vauban and Cr&#233;dit Agricole Assurances for the establishment of Bluevia Fibra" for additional information.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On July 29, 2022, T. Infra, Liberty Global plc ("Liberty Global") and InfraVia Capital Partners ("InfraVia") reached an agreement for the establishment of nexfibre, a joint venture for the deployment of fiber-to-the-home ("FTTH") to 5 million homes in the United Kingdom not reached by VMO2's network, with potential for expansion to an additional 2 million homes. The fiber network would offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the lead customer and providing a range of technical services. Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and T. Infra participate by halves in a joint vehicle that holds a 50% interest in nexfibre, with InfraVia owning the remaining 50%. See "Item 10. Additional Information&#8212;Material Contracts&#8212;Agreement reached by T. Infra, Liberty Global and InfraVia for the establishment of a fiber-to-the-home (FTTH) joint venture in the United Kingdom" for additional information.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On October 25, 2022, Telef&#243;nica informed that it had been notified of the execution Agreement of the Judgment of the National High Court (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Audiencia Naciona</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">l), which had confirmed the criteria for the use of negative tax bases and deductions maintained by Telef&#243;nica in relation to the assessments Agreements derived from the 2008-2011 Corporate Income Tax Audit. The notified Agreement orders the refund to Telef&#243;nica of an amount of 790 million euros for taxes paid in those years, as well as an amount of 526 million euros as delayed interest. Said amounts were collected on October 28, 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On November 3, 2022, the Board of Directors resolved to set December 15, 2022 as the payment date for the dividend in cash, charged to unrestricted reserves approved by the Annual General Shareholders&#8217; Meeting held on April 8, 2022, consisting of a fixed gross amount of 0.15 euros for each existing Telef&#243;nica share entitled to participate in such distribution. This is the first payment of the commitment announced by Telef&#243;nica to remunerate the shareholder with a dividend of 0.30 euros per share for 2022. The second payment of 0.15 euros per share in cash is expected to be made in June 2023. The adoption of the corresponding corporate resolutions is expected to  be proposed at the next General Shareholders' Meeting.</span></div><div><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:10pt">In November 2022, Telef&#243;nica Europe, B.V. carried out the following transactions related to its capital structure:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.61pt">a new issue amounting to 750 million euros, guaranteed by Telef&#243;nica, S.A. An amount equal to the net proceeds of the issue of the securities will be subject to specific eligibility criteria to be applied to finance new or refinance existing projects, as detailed in Telef&#243;nica's SDG Framework. The settlement took place on November 23, 2022; </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">a tender offer for the following hybrid instruments: (i) any outstanding 1,000 million euros Undated 5.5 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "March 2023 Notes") and (ii) any outstanding 1,250 million euros Undated 5.7 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "September 2023 Notes"), irrevocably guaranteed by Telef&#243;nica, S.A. Telef&#243;nica Europe, B.V. accepted the purchase in cash of any and all of the tendered securities in an aggregate principal amount of 547.4 million euros of the March 2023 Notes and 73.6 million of the September 2023 Notes. The tender offer settled on November 24, 2022; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">following the settlement of the abovementioned tender offer and the subsequent cancellation of the repurchased securities, Telef&#243;nica Europe, B.V. announced on November 25, 2022 the exercise of the early redemption option with respect to the March 2023 Notes, according to their terms and conditions, for the remaining outstanding securities (129 million euros). Such outstanding instruments were redeemed on December 27, 2022 pursuant to the exercise of the early redemption option.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">For information on certain significant events that have occurred to date in 2023, see &#8220;&#8212;Recent Developments&#8221;.</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">34</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business areas</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 the Telef&#243;nica Group is reporting financial information, both internally and externally, according to the following segments: Telef&#243;nica Spain,  VMO2, Telef&#243;nica Germany, Telef&#243;nica Brazil and Telef&#243;nica Hispam (formed by the Group's operators in Colombia, Mexico, Venezuela, Ecuador, Argentina, Chile, Peru and Uruguay).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2021, compared to 2020, the Telef&#243;nica Group changed its reporting segments as follows: </span></div><div style="margin-top:9pt;padding-left:13.5pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.5pt">On June 1, 2021, upon the establishment of VMO2 (whose results are accounted for under the equity method), the former Telef&#243;nica United Kingdom segment was replaced by the new VMO2 segment (see Notes 2 and 10 to the Consolidated Financial Statements). The Group&#8217;s consolidated results for the year ended December 31, 2021 include the consolidation of Telef&#243;nica United Kingdom from January 1 to June 1, and the equity accounting of 50% of the net result of VMO2 from June 1 to December 31 (see Note 10 to the  Consolidated Financial Statements). The gain registered upon the establishment of VMO2, amounting to 4,460 million euros (see Notes 2 and 23 to the Consolidated Financial Statements), is recorded under "Other companies". The VMO2 segment information included in this Annual Report is presented under management criteria, and shows 100% of VMO2&#8217;s results. In addition, information included in this Annual Report on the accesses of the Group and the VMO2 segment as of December 31, 2022 and December 31, 2021 includes 100% of the accesses of VMO2.Telef&#243;nica&#8217;s actual percentage ownership of VMO2 is 50%. </span></div><div style="margin-top:9pt;padding-left:13.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since it is not practicable to restate the historical segment financial information to reflect this change, in this Annual Report, the relevant segment discussions consist of (i) for purposes of the 2022-2021 period-on-period discussions, an analysis of the results of our VMO2 segment (which, for purposes of 2022, consists of the results obtained by VMO2 from January 1 to December 31, 2022, and, for purposes of 2021, consists of the results obtained by VMO2 from June 1 (the date on which VMO2 was established) to December 31, 2021), and (ii) for purposes of the 2021-2020 period-on-period discussions, an analysis of the results of our former Telef&#243;nica United Kingdom segment (which, for purposes of 2021, consists of the results obtained in the first five months of the year, until the establishment of VMO2 and the elimination of the Telef&#243;nica United Kingdom segment).</span></div><div style="margin-top:9pt;padding-left:13.5pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.5pt">The Telxius Group ceased to be a reporting segment in 2021 as a result of the sale of the telecommunications towers divisions in Europe and Latin America to American Tower Corporation (see Note 2 to the Consolidated Financial Statements). The Telxius Group&#8217;s results as well as the gain obtained for the sale of the telecommunications towers divisions, amounting to 6,099 million euros (see Notes 2 and 22 to the Consolidated Financial Statements), were recorded under "Other companies". </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 related region. Inter-segment&#160;transactions&#160;are&#160;carried&#160;out on an arm's-length basis.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information relating to other Group companies not specifically included in the segments referred to above is reported under "Other companies" (see Appendix I to the Consolidated Financial Statements), which includes Telef&#243;nica, 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 Incremental Group and BE-terna Group, acquired in March and June of 2022 (see Note 5 to the Consolidated Financial Statements), respectively, are reported within "Other companies". "Other companies" also includes the share of results of investments accounted for by the equity method corresponding to the fiber optic companies incorporated in 2021 and 2022 (see Note 10).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group centrally manages borrowing activities, mainly through Telef&#243;nica, S.A. and other companies included in &#8220;Other companies&#8221; (see Note 19, Appendix III and Appendix V to the Consolidated Financial Statements), so most of the Group's financial assets and liabilities are reported under &#8220;Other companies&#8221;. In addition, Telef&#243;nica, S.A. is the head of the Telef&#243;nica tax group in Spain (see Note 25 to the Consolidated Financial Statements). Therefore, a significant part of the deferred tax assets and liabilities is included under &#8220;Other companies&#8221;. For these reasons, the results of the segments are disclosed up through operating income.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;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 </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">35</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">segment. The assets and liabilities presented in each segment are those managed by the heads of each segment, regardless of their legal structure.</span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">36</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following chart shows the organizational structure of the principal subsidiaries of the Telef&#243;nica Group at December 31, 2022, including their jurisdictions of incorporation and our ownership interest. For further detail, see Exhibit 8.1 to this Annual Report.</span></div><div style="margin-top:9pt;text-align:justify"><img src="tef-20221231_g1.jpg" alt="tef-20221231_g1.jpg" style="height:355px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"/></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">37</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A., the parent company of the Telef&#243;nica Group, operates as a holding company with the following objectives:</span></div><div style="margin-top:9pt;padding-left:40.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">coordinate the Group&#8217;s activities;</span></div><div style="margin-top:9pt;padding-left:40.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">allocate resources efficiently among the Group;</span></div><div style="margin-top:9pt;padding-left:40.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">provide managerial guidelines for the Group;</span></div><div style="margin-top:9pt;padding-left:40.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">manage the Group&#8217;s portfolio of businesses;</span></div><div style="margin-top:9pt;padding-left:40.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">foster cohesion within the Group; and</span></div><div style="margin-top:9pt;padding-left:40.5pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">foster synergies among the Group&#8217;s subsidiaries.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal executive offices are located at Distrito Telef&#243;nica, Ronda de la Comunicaci&#243;n, s/n, 28050 Madrid, Spain, and our registered offices are located at Gran V&#237;a, 28, 28013 Madrid, Spain. Our telephone number is +34 900 111 004.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital Expenditures </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal capital expenditures for the years ended December 31, 2022, 2021 and 2020, consisted of additions to property, plant and equipment</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and additions to intangible assets, including spectrum. In 2022, 2021 and 2020, we had capital expenditures of  5,819 million euros, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7,267 million euros and 5,861 million euros , respectively.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Year ended December 31, 2022</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Capital expenditures in 2022 decreased by 19.9% compared to 2021. Capital expenditures in 2022 included the cost of spectrum mainly in Colombia, Brazil, Argentina and Uruguay, amounting to 173 m</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">illion euros.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Investment by Telef&#243;nica Spain amounted to 1,550 million euros and was primarily focused on  continuing the  deployment of the fiber optic network, exceeding 28 million premises passed by year-end 2022, as well the development of the 5G network, reaching 85% population coverage at the end of the year. Investment by Telef&#243;nica Germany in 2022 amounted to 1,209 million euros and was primarily focused on continuing the progress in 5G roll-out and network modernization. 5G population coverage stood at approximately 80% at year-end, significantly over-achieving the initial target and aiming for nationwide 5G coverage by no later than 2025. Investment by Telef&#243;nica Brazil in 2022 amounted to 1,795 million euros and was mainly dedicated to extending the coverage and capacity of 4G mobile networks, with a population coverage of 96%, and the improvement of network quality and deployment of the FTTH network in the fixed business, exceeding 23.3 million premises passed. Investment by Telef&#243;nica Hispam in 2022 amounted to 1,058 million euros and was mainly focused on the improvement of mobile networks (with coverage expansions and capacity reinforcement) as well as on  the deployment of our own fixed network. The efficient administration of available resources and the optimization of CapEx are the main management levers in the region, focusing on the simplification, digitization of processes and the search for synergies through the promotion of regional initiatives.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Year ended December 31, 2021</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Capital expenditures in 2021 increased by 24.0% compared to 2020. Capital expenditures in 2021 included the cost of spectrum mainly in Brazil, United Kingdom, Spain and Chile, amounting to 1,704 m</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">illion euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment by Telef&#243;nica Spain amounted to 1,815 million euros and was primarily focused on continuing the fast deployment of the fiber optic network, exceeding 26 million premises passed by year-end 2021, as well the development of the 5G network reaching 81% population coverage at the end of the year. Investment by our former Telef&#243;nica United Kingdom segment during the first five months of 2021 (before the establishment of VMO2) amounted to 933 million euros and was mainly focused on 5G deployment, reaching 200 cities, and improving the fixed network. Investment by Telef&#243;nica Germany in 2021 amounted to 1,284 million euros and was primarily focused on the accelerated 3G network switch off and the continued improvement of the 4G/5G networks (5G network is active in more than 200 cities, achieving a coverage of 30% by year-end 2021). Investment by Telef&#243;nica Brazil in 2021 amounted to 2,069 million euros and was mainly dedicated to extending the coverage and capacity of 4G mobile networks, with a population coverage of 93%, and the improvement of network quality and deployment of the FTTH network in the fixed business, exceeding 19.5 million premises passed. Investment by Telef&#243;nica Hispam in 2021 amounted to 978 million euros  and was mainly focused on improving the coverage and capacity of 4G networks, the launch of 5G in Chile and ultra-broadband fixed capabilities. In addition, the simplification and </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">38</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">digitization of processes continued to be one of the main investment focuses outside of the resources allocated to the network.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Year ended December 31, 2020</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Capital expenditures in 2020 decreased by 33.3% compared to 2019. Capital expenditures in 2020 included the cost of spectrum mainly in the United Kingdom and Brazil, amounting to 126 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The year-on-year decline was mainly attributable to fewer spectrum acquisitions in 2020 and lower capital expenditures in light of the COVID-19 pandemic, with our investment in 2020 being focused on the availability of resources and revenues. In particular, we remained focused on accelerating seamless connectivity (deployment of LTE and fiber networks, increased network capacity and virtualization) while seeking to improve quality and customer experience. The year-on-year decline was partially offset by the launch of the 5G network in Spain and Germany.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment by Telef&#243;nica Spain amounted to 1,408 million euros and was primarily focused on fast fiber optic and IPTV rollout, exceeding an estimated 25 million premises passed by year-end 2020, as well as investments in the launch of the 5G network reaching 75% population coverage (based on the calculation criteria used by competitors, pursuant to which all inhabitants of the cities that have some 5G coverage are considered) at the end of the year. Investment by our former Telef&#243;nica United Kingdom segment  in 2020  amounted to 913 million euros and was mainly focused on 5G deployment and the improvement of the 4G navigation experience, achieving 99% population coverage by year-end 2020. Investment by Telef&#243;nica Germany in 2020 amounted to 1,094 million euros and was primarily focused on the launch of the 5G network across 15 cities and the extension of 4G coverage, achieving a population coverage of 99.6% by year-end 2020. Investment by Telef&#243;nica Brazil in 2020 amounted to 1,372 million euros and was mainly dedicated to extending the coverage and capacity of 4G mobile networks, the improvement of network quality, the extension of the FTTH network in the fixed business, as well as network simplification and the digitalization of processes and systems. Investment by Telef&#243;nica Hispam in 2020 amounted to 833 million euros and was 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Financial Investments and Divestitures</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal financial investments in 2022 were: (i) the acquisition of the mobile assets of the Oi Group on April 20, 2022 for consideration of 1,093 million euros; (ii) the acquisition of Incremental Group on March 21, 2022 for consideration of 104 million euros (including potential contingent payments linked to its future performance); (iii) the acquisition of BE-terna Group on June 9, 2022 for consideration of 191 million euros (including potential contingent payments linked to its future performance) and (iv) the closing on December 20, 2022 of the agreement between Telef&#243;nica de Espa&#241;a, S.A.U. and T. Infra with a consortium formed by Vauban Infrastructure Partners and Cr&#233;dit Agricole Assurances to incorporate a company, Bluevia Fibra, S.L., for the deployment and commercialization of an FTTH network mainly in rural areas in Spain, after obtaining the corresponding regulatory authorizations and the fulfillment of certain other agreed conditions. The consortium acquired 45% of the company for the amount of 1,021 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal financial divestiture in 2022 was the sale on January 13, 2022 of Telef&#243;nica M&#243;viles El Salvador to General International Telecom El Salvador, S.A. de C.V.  for 139 million U.S. dollars (approximately 121 million euros at the exchange rate at such date), after the satisfaction of the relevant closing conditions and once the relevant regulatory approvals were obtained.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal financial investments in 2021 were: (i) the closing of the transaction among Telef&#243;nica and Liberty Global and the establishment of VMO2 through the combination of their respective operating businesses in the United Kingdom (O2 Holdings Ltd. and Virgin Media UK, respectively) to create an integrated communications provider in the United Kingdom, with Telef&#243;nica holding a 50% stake in VMO2; (ii) the acquisition of 100% of the shares in Cancom Ltd by Telef&#243;nica Tech on July 29, 2021 for 340 million pounds sterling (approximately 398 million euros at the date of the transaction); (iii) the closing on July 21, 2021 of part of the investment agreement in Nabiax by which T. Infra received a 13.94% equity stake in Nabiax in exchange for two data centers in Spain. The fulfillment of the conditions related to the contribution of two additional data centers in Chile occurred on May 24, 2022. Following the completion of the addition, T. Infra's stake in Nabiax increased to 20%; and (iii) the closing on July 2, 2021 of the investment agreement with Caisse de d&#233;p&#244;t et placement du Quebec ("CDPQ") in FiBrasil Infraestructura e Fibra &#211;tica S.A. ("FiBrasil"), each of which held 50% under a co-control governance model.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal financial divestitures in 2021 were: (i) the sale of Telxius telecommunications towers divisions in Europe (Spain and Germany) and in Latin America (Brazil, Peru, Chile and Argentina), as well as 4,080 sites that Telxius undertook to acquire from Telef&#243;nica Germany GmbH &amp; Co. OHG, under the second phase of the agreement reached between both parties on June 8, 2020, to American Tower Corporation for 7,865 million euros; (ii) the sale of Telef&#243;nica de Costa Rica TC, S.A. to Liberty Latin America Ltd for 538 million U.S. dollars (approximately 457 million euros at the date of the agreement); and (iii) the sale on July 1, 2021 of 60% of the shares of InfraCo, SpA  to KKR Alameda Aggregator L.P. by Telef&#243;nica Chile, S.A. The transaction values InfraCo, SpA at 1.0 billion U.S. dollars (approximately 0.8 billion euros at the exchange rate as of the date of the agreement).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal financial investment in 2020 was the acquisition of 50% of the shares in Prosegur Alarmas Espa&#241;a, S.L. by Telef&#243;nica de Contenidos, S.A.U. on February 28, 2020 paid with 49,545,262 shares of Telef&#243;nica, with a valuation amounting to 266 million euros at the date of the transaction. There were no significant financial divestitures in 2020. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Active portfolio management is part of Telef&#243;nica&#8217;s strategy and therefore it may undertake transactions involving its or its subsidiaries' shares, including transactions similar to those undertaken in the 2020-2022 period or otherwise, at any time.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Public Takeover Offers</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recent Developments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The principal events that have occurred since December 31, 2022 are set forth below:</span></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 13, 2023, the first annual extension of the sustainability-linked syndicated loan facility for 5,500 million euros of Telef&#243;nica, S.A. was exercised. The new expiration date is January 13, 2028.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 18, 2023, Telef&#243;nica informed that, once the corresponding regulatory and competition approvals were obtained, Pontel Participaciones, S.L., Telef&#243;nica&#8217;s subsidiary held 83.35% by Telef&#243;nica and 16.65% by Pontegadea Inversiones, S.L., acquired 40% of the share capital of Telxius Telecom, S.A. from Taurus Bidco S.&#224; r.l. (a company managed by KKR). As a result of the transaction, Pontel Participaciones, S.L., which held the remaining 60% of Telxius Telecom, S.A.'s share capital, has become the sole shareholder of Telxius Telecom, S.A. Likewise, Pontegadea Inversiones, S.L. increased its holding in Pontel Participaciones, S.L. to 30% and Telef&#243;nica has now a 70% stake.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 23, 2023, Telef&#243;nica Emisiones, S.A.U. redeemed 1,277 million euros of its notes issued on January 22, 2013. These notes were guaranteed by Telef&#243;nica, S.A. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:27.65pt">In January 2023, Telef&#243;nica Europe, B.V. carried out the following transactions related to its capital structure:</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:81pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.46pt">a new issue amounting to 1,000 million euros, guaranteed by Telef&#243;nica, S.A. An amount equal to the net proceeds of the issue of the securities will be subject to specific eligibility criteria to be applied to finance new or refinance existing projects, as detailed in Telef&#243;nica's SDG Framework. The settlement took place on February 2, 2023; and</span></div><div style="padding-left:81pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.46pt">a tender offer for the following hybrid instruments: (i) any outstanding 1,250 million euros Undated 5.7 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "September 2023 Notes") and (ii) any outstanding 1,000 million euros Undated 10 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "March 2024 Notes"), irrevocably guaranteed by Telef&#243;nica, S.A. Telef&#243;nica Europe, B.V. accepted the purchase in cash of the tendered securities for an aggregate principal amount, with respect to the September 2023 Notes, of 388 million euros, and an aggregate principal amount, with respect to the March 2024 Notes, of 612 million euros. The tender offer settled on February 3, 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Public Information</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The SEC maintains an Internet site (www.sec.gov) that contains reports and other information regarding issuers that file electronically with the SEC, including Telef&#243;nica. See "Item 10. Additional Information&#8212;Documents on Display". </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">40</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional information on the Group is also available on our website at www.telefonica.com. The information contained on such websites does not form part of this Annual Report on Form 20-F.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_58"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Business Overview</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica is a telecommunications service provider with its footprint in some markets in Europe and Latin America. Our objective is to create, protect and promote fixed and mobile connections for our customers helping them to take control over their digital lifestyle. Therefore, we primarily offer our customers the connectivity they need to interact and live in the markets where we operate through simple products and services while protecting their data and managing it in a responsible way. We rely on modern technology to create a better and more inclusive society. We aim at offering our customers the possibility to reach the digital world regardless of their location, economic status, level of digital knowledge and capacities.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s strategy aims to:</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Enhance value through:</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">Making our world more human, by connecting lives in a sustainable way as we continue to leverage opportunities in our markets and deliver towards our strategy focused on value creation.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">Offering good connectivity, for which our infrastructure management and our continuous investment in network and platforms are key.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">Good connectivity is the enabler for all digital services. Telef&#243;nica provides a wide range of services over connectivity through a fixed and mobile bundled offer which includes video and digital services. We offer our customers additional data in order to amplify services through unique, simple and clear offers.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">Focusing on customers&#8217; needs, making their life and digital experience easier through customized offers, </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With the following enablers:</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">End-to-end digitalization: seeking the reduction of our legacy investments to increase virtualization, the reduction of physical servers, data centers and applications, the digitalization of IT systems and processes and the digitalization of front and back office. Digitalization efforts undertaken in the past have allowed Telef&#243;nica to provide a rapid response to companies as they adapted to and sought to enhance their competitiveness in the new landscape. </span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Big Data and innovation to add value to our customers and return the control over data to our customers. </span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Continued focus on the simplification of processes.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">Digital trust: as we manage ever more personal information about our customers, their trust in us is key. Telef&#243;nica seeks a relationship of trust with its customers, and therefore we invest in network security. Telef&#243;nica is developing tools to protect information stored on user devices and transmitted across our fixed and mobile communications networks, as well as to protect customers' digital identity.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">Fiber, 4G and 5G deployment enables Telef&#243;nica to continue gaining prominence among customers through better experience and a lower churn. These networks help Telef&#243;nica to contribute to make technology more accessible, to continue to maintain high quality services for home offices and a higher consumption of entertainment services.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_61"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Results Highlights</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022 was a challenging year, during which Telef&#243;nica showed its resilience and ability to mitigate the effects of an adverse macro environment. Additionally, in 2022 foreign exchange rates positively affected Telef&#243;nica&#8217;s results, after various years of negative impacts, mitigating the impact of inflation in Europe and certain Latin American markets. Revenues grew for the first time since 2015 (+1.8% y-o-y), supported by the foreign exchange effect and a strong commercial momentum.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica strengthened its position in core markets: </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spain, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica's revenues grew thanks to the good commercial performance and despite a complex macro environment, increasing 0.6% y-o-y. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Brazil,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica maintained its strong operating momentum, accelerating FTTH rollout (reaching 23.3 million premises passed by December 31, 2022) and increasing its mobile contract ex IoT market share to 43.5%, following the acquisition of Oi&#8217;s mobile assets. These factors,together with the appreciation of the Brazilian real, led to significant revenue growth. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Germany</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Telef&#243;nica continued to bolster network quality, surpassing its 5G initial rollout goals and gaining solid commercial traction, reflected in higher revenues and operating income growth. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">United Kingdom, VMO2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> continued its operating progress driven by synergies. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We took further steps in our strategy to build a stronger Telef&#243;nica and focused our investments on next-generation networks, while maintaining a disciplined capital allocation framework. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of accesses over the past three years as of December 31 of such years:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:35.023%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.677%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ACCESSES </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Thousands of accesses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed telephony accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,243.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,966.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,941.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Broadband</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,077.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,833.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,303.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 43.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">UBB</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,212.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,281.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,757.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 66.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FTTH</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,964.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,243.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,273.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">266,287.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">277,793.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">292,168.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 43.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">131,542.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">129,675.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">129,685.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 43.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">108,587.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">117,432.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">126,242.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 43.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IoT</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,157.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,685.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36,240.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pay TV</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,059.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,111.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,586.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retail Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">322,978.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">344,945.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">357,213.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Wholesale Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">22,455.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">24,173.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">25,932.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 43.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed wholesale accesses </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,722.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,694.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,665.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 49.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FTTH wholesale accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,606.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,988.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,211.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 43.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile wholesale accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,732.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,478.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,267.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Accesses</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">345,433.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">369,118.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">383,146.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Notes:  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">- The table includes, with respect to 2020, accesses of Telef&#243;nica de Costa Rica (2.5 million total accesses) and, with respect to 2020 and 2021, accesses of Telef&#243;nica El Salvador (1.9 million and 1.8 million total accesses as of December 31, 2020 and 2021, respectively). The sale of Telef&#243;nica de Costa Rica was completed on August 9, 2021. The sale of Telef&#243;nica El Salvador was completed on January 13, 2022. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:115%">The access information provided as of December 31, 2020 includes the accesses of our former Telef&#243;nica United Kingdom segment and does not include Virgin Media's accesses as of such date.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">  Includes fixed wireless and VoIP accesses.</span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">43</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of accesses by segment:</span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"></td><td style="width:34.246%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.598%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">21/20 YoY variation</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">22/21 YoY variation</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% Over Total Accesses</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.8%)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.6%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom / VMO2 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.1%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.1%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.1%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.6%)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.1%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.8%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.7%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.3%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31.4%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.0%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10.6%)</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6.6%)</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.4%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.7%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.3%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:115%">Note:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> Our former Telef&#243;nica United Kingdom segment was replaced by our new VMO2 segment on June 1, 2021. For additional information on this change and how segment information is presented in this Annual Report, see &#8220;&#8213;History and Development of the Company&#8213;Business areas&#8221;. Virgin Media&#8217;s accesses were considered in calculating the "2021/2020 YoY variation" and "% Over Total Accesses" for 2021.</span></div><div><span><br/></span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Accesses 2022 vs 2021</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">were 383.1 million as of December 31, 2022, increasing 3.8% year-on-year. This increase was mainly attributable to the inclusion of Oi's mobile accesses base since April 1, 2022 within Telef&#243;nica Brazil, offset in part by the exclusion of Telef&#243;nica El Salvador's accesses since January 1, 2022 due to its sale.   </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 292.2 million as of December 31, 2022, up 5.2% compared to December 31, 2021, mainly due to the inclusion of Oi&#8217;s mobile accesses, partially offset by the sale of Telef&#243;nica El Salvador. Postpaid accesses represented 49.3% of the mobile accesses excluding IoT accesses (+1.8 p.p.).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed broadband accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 26.3 million at December 31, 2022, up 1.8% year-on-year. Retail fiber (FTTH) accesses stood at 14.3 million at December 31, 2022, growing by 16.6% compared to December 31, 2021. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 10.6 million as of December 31, 2022, down 4.7% year-on-year mainly due to lower accesses in Telef&#243;nica Spain</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Accesses 2021 vs 2020</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which have included 100% of the accesses of VMO2 (in respect of which Telef&#243;nica has a 50% stake) since June 1, 2021, totaled 369.1 million as of December 31, 2021, increasing by 6.9% year-on-year, mainly due to the inclusion of Virgin Media&#8217;s accesses in VMO2, offset in part by the sale of Telef&#243;nica de Costa Rica on August 9, 2021. Postpaid accesses for Telef&#243;nica Brazil, Telef&#243;nica Hispam and Telef&#243;nica Germany performed better in 2021, compared to the prior year, due to the lessening of pandemic-related restrictive measures that took place during the year.    </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 277.8 million as of December 31, 2021, up 4.3% compared to 2020 mainly due to the inclusion of Virgin Media&#8217;s accesses, offset in part by the sale of Telef&#243;nica de Costa Rica. Mobile accesses increased 4.3% due to an increase in postpaid (+8.1%), offset in part by the decrease in prepay (-1.4%). Postpaid accesses represented 47.5% of the mobile accesses excluding IoT accesses (+2.3 p.p. y-o-y). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed broadband accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 25.8 million at December 31, 2021, up 28.7% year-on-year mainly due to the inclusion of Virgin Media&#8217;s accesses. Retail fiber (FTTH) accesses stood at 12.2 million at December 31, 2021, growing by 22.9% compared to December 31, 2020. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 11.1 million as of December 31, 2021, up 37.9% year-on-year mainly due to the inclusion of Virgin Media&#8217;s accesses, offset in part by the sale of Telef&#243;nica de Costa Rica.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tables below show the evolution of Telef&#243;nica's estimated access market share for mobile and fixed broadband for the past three years. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">44</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.812%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Competitive Position Evolution</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mobile Market Share </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Telef&#243;nica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.3%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.5%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">United Kingdom </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.3%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30.1%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.6%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34.2%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33.1%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38.9%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28.5%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.5%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30.4%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.0%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.6%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Venezuela</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55.7%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54.7%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53.3%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.3%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31.4%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37.0%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.1%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.8%</span></td></tr></table></div><div style="padding-left:4.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Internal estimates in each year.</span></div><div style="padding-left:4.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">In 2020, the percentage refers to Telef&#243;nica O2's market share as of December 2020. In 2021 and 2022, the percentage refers to VMO2's market share as of September 2021 and September 2022, respectively.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.812%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">FBB Market Share </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Telef&#243;nica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35.3%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34.0%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.3%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.6%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.7%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.3%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31.5%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">66.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55.1%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.4%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.8%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.1%</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Internal estimates in both years.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">45</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_64"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Consolidated results</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this section, we discuss changes in the Group&#8217;s consolidated income statements for the years ended December 31, 2022, 2021 and 2020.  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.261%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Year ended December 31,</span></td><td colspan="6" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Variation</span></td><td colspan="6" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Variation</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated Results</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021 vs 2020</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022 vs 2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">43,076&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39,993&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,799)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">716&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,673&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,065&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,086&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">698.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10,608)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(83.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13,014)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,258)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,941)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">756&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(683)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,280)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,733)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,524)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,453)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(18.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,871)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10,976)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10,741)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,895&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(14.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">235&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATION (OIBDA)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,498&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,983&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,852&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,485&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">62.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,131)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(41.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">OIBDA Margin</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24.6 p.p.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(23.8 p.p.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,359)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,397)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,796)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">962&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(399)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization of intangible assets, depreciation of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,756)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,748)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,731)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,008&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13.0)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization of rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,603)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,649)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,065)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(46)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(416)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">OPERATING INCOME (OI)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">13,586</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,056</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">9,447</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">228.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(9,530)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(70.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating Margin</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">34.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26.1 p.p.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(24.4 p.p.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Share of income of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">c.s.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">c.s.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">c.s.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,558)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,364)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,313)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">194&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">PROFIT BEFORE TAX</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,583</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">12,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">9,512</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">368.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(9,135)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(75.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Corporate income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(626)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,378)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(641)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(752)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">120.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">737&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(53.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">PROFIT FOR THE YEAR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,957</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">10,717</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,319</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">8,760</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">447.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(8,398)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(78.4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Attributable to equity holders of the parent</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,582&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,137&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,011&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,555&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">414.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,126)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(75.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Attributable to non-controlling interests</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">375&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,580&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,205&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">587.4&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,272)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(88.0&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">%)</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">c.s.: change of sign</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of Results 2022 vs 2021</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group's operating results in 2022, compared to 2021, have been impacted mainly by:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Changes in the scope of consolidation:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The main changes in 2022 and 2021 are the exclusion from the perimeter of consolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment (after the incorporation of VMO2 in June 2021, the results for which are accounted for under the equity method, based on the Group&#8217;s 50% stake), the towers divisions of Telxius Group (since their sale in June 2021), Telef&#243;nica de Costa Rica (since its sale in August 2021) and InfraCo, SpA in Chile (since the sale of a 60% interest therein in July 2021).</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Capital gains/losses on sale of business</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which significantly decreased period-on-period. In 2022 Telef&#243;nica booked gains from the sale of fiber optic assets in Colombia (162 million euros) and in the United Kingdom (20 million euros) (see Notes 10 and 26 to the Consolidated Financial Statements). In 2021, Telef&#243;nica recorded capital gains generated by the sale of the tower divisions of the Telxius Group (6,099 million euros), the incorporation of VMO2 (4,460 million euros), the sale of 60% of the shares in InfraCo, SpA in Chile (274 million euros), the sale of Telef&#243;nica de Costa Rica (136 million euros) and the establishment of FiBrasil (26 million euros). </span></div><div style="margin-bottom:9pt;text-indent:-18pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">46</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Foreign exchange effects:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Foreign exchange effects had a positive impact on our 2022 results compared with 2021, mainly due to the appreciation of the Brazilian real. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Restructuring costs:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The impact in 2022 and 2021 of restructuring costs (179 million euros in 2022 and 1,663 million euros in 2021), related mainly to the Individual Suspension Plan adopted under the Social Pact for Employment</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in Telef&#243;nica Spain in 2021.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Impairment of goodwill and other assets</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: In 2022 the impairment of assets amounted to 77 million euros, in Telef&#243;nica Argentina. In 2021 the impairment of goodwill amounted to 416 million euros, mainly with respect to Telef&#243;nica del Per&#250;. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Spectrum acquisition</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: While spectrum acquisitions do not have an impact on operating income (except on amortizations), they affect CapEx and OIBDA-CapEx, which are discussed further below. In 2022, spectrum acquisitions amounted to 173 million euros of which 125 million euros corresponded to Telef&#243;nica Colombia, 35 million euros to Telef&#243;nica Brazil, 8 million euros to Telef&#243;nica Argentina and 5 million euros to Telef&#243;nica Uruguay. In 2021, spectrum acquisitions were significantly higher, amounting to 1,704 million euros of which 706 million euros corresponded to Telef&#243;nica Brazil, 515 million euros to our former Telef&#243;nica United Kingdom segment (which acquisitions took place before VMO2 was established), 352 million euros to Telef&#243;nica Spain and 131 million euros to Telef&#243;nica Chile.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, the Group's operating results in 2022 were impacted by the acquisition of the mobile assets of the Oi Group on April 20, 2022 for consideration of 1,093 million euros. See "Item 10. Additional Information&#8212;Material Contracts&#8212;Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group" for additional information. See also "Item 5. Operating and Financial Review and Prospects&#8213;Operating Results&#8213;Significant Factors Affecting the Comparability of Our Results of Operations in the Periods under Review&#8221;.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2022 totaled 39,993 million euros, increasing 1.8% year-on-year, positively impacted by foreign exchange effects, mainly due to the appreciation of the Brazilian real against the euro (+4.5 p.p.), despite the changes in the consolidation perimeter (-7.1 p.p.) related mainly to the exclusion of the entities that comprised our former Telef&#243;nica United Kingdom segment since June 1, 2021. Revenue growth was also impacted by the positive growth in service revenues in Telef&#243;nica Brazil, Telef&#243;nica Germany and Telef&#243;nica Hispam. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> mainly includes gains on disposal of assets and capitalized costs on fixed assets. In 2022, other income totaled 2,065 million euros compared to 12,673 million euros recorded in 2021. In 2022, other income included the capital gains resulting from the sale of fiber optic assets in Colombia (162 million euros) and the sale of fiber optic assets in United Kingdom (20 million euros) (see Notes 10 and 26 to the Consolidated Financial Statements). In 2021, other income included the capital gains from the sale of the Telxius towers business (6,099 million euros), the establishment of VMO2 (4,460 million euros), the sale of 60% of the shares in InfraCo, SpA in Chile (274 million euros), the sale of Telef&#243;nica de Costa Rica to Liberty Global (136 million euros) and the establishment of FiBrasil (26 million euros).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (mainly external services and taxes) was 29,206 million euros in 2022, down 2.5% year-on-year compared to 2021. This decrease was mainly attributable to the impact of changes in the scope of consolidation (-6.2 p.p.), mainly the exit of Telef&#243;nica United Kingdom from the perimeter on June 1, 2021, offset in part by the impact of changes in foreign exchange rates (+3.9 p.p.). The evolution of these expenses is explained in greater detail below:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.3pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 12,941 million euros in 2022, up 5.6% year-on-year, mainly as a result of the impact of changes in foreign exchange rates (+3.3 p.p.) and of higher handset costs in all segments due to higher commercial activity, offset in part by the deconsolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment in June 2021.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.3pt">Personnel expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 5,524 million euros in 2022, down 18.0% year-on-year compared to 2021, mainly as a result of higher restructuring costs in 2021 in Telef&#243;nica Spain and of the deconsolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment in June 2021.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">47</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The average headcount was 102,563 employees in 2022, down 4.8% compared to 2021, mainly as a result of the deconsolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment in June  2021. </span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.3pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 10,741 million euros in 2022, down 2.1% year-on-year. This decrease was mainly attributable to the deconsolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment in June 2021, partially offset by higher expenses in Spain and Germany.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, OIBDA totaled 12,852 million euros in 2022, compared with 21,983 million euros in 2021. The period-on-period evolution was strongly impacted by the capital gains recorded in "Other income" from the transactions completed in 2021 (-49.2 p.p.) and changes in the scope of consolidation (-4.5 p.p.), partially offset by the lower restructuring costs in 2022 (+6.8 p.p.) and the positive exchange rate impact (+3.0 p.p.). OIBDA is a non-GAAP financial measure. For a reconciliation of OIBDA to operating income, see &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Item 5. Operating and Financial Review and Prospects- Non-GAAP Financial Information</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 8,796 million euros in 2022 increasing by 4.8% compared to 2021 mainly as a result of the impact of foreign exchange rates (+5.3 p.p.) as well as the changes in the consolidation perimeter (+1.3 p.p.) as a consequence of the sale of the towers communications division sale in 2021, which resulted in an increase in the amortization of rights of use.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income (OI)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 4,056 million euros in 2022 compared to 13,586 million euros recorded in 2021. The period-on-period evolution was strongly impacted by the capital gains on the sale of businesses in 2021 mentioned above (-79.6 p.p.), the changes in the scope of consolidation (-8.2 p.p.) and the increase in depreciation and amortization.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">share of income (loss) of investments</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> accounted for by the equity method in 2022 was an income of 217 million euros, compared to a loss of 127 million euros in 2021, mainly due to the respective results of VMO2, affected by changes in the fair value of derivatives.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net financial expense</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,313 million euros in 2022, down 51 million euros compared to 2021, mainly due to extraordinary income related to the payment by the Spanish administration to the Group of delayed interest in connection with tax litigation in Spain, which more than offset the increase in the expenses due to the increase in interest rates and a higher level of debt denominated in Brazilian reais. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Corporate income tax</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 641 million euros in 2022, decreasing compared to 2021 (1,378 million euros) by 737 million euros. The y-o-y change is explained mainly by the extraordinary expenses recorded in 2021 (among others, the impact of the Spanish tax inspection closing), the deconsolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment since June 2021, the positive outcome of the tax inspection closing in Germany in 2022 and the corporate simplification carried out in Brazil in 2022. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">profit for the year attributable to equity holders of the parent</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2022 was 2,011 million euros (8,137 million euros in 2021). </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Profit attributable to non-controlling interests </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was 308 million euros in 2022 (compared to 2,580 million euros in 2021). The variation is mainly due to a decrease in profit attributable to non-controlling interests in Telxius, which completed the sale of its towers divisions in Europe and Latin America in 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CapEx </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">totaled 5,819 million euros in 2022, down 19.9% year-on-year, impacted by lower spectrum purchases in 2022 (-17.7 p.p.) and the change in the consolidation perimeter (-13.6 p.p.), partially offset by the exchange rates effect (+4.2 p.p.).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OIBDA-CapEx </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">stood at 7,033 million euros in 2022, compared to 14,716 million euros in 2021 (-52.2%), strongly affected by the above mentioned capital gains from the sale of businesses in 2021 (-73.5 p.p.), partially offset by the positive effect of lower restructuring costs in 2022 (+10.1 p.p.), lower spectrum purchases (+8.8 p.p.), the recording of goodwill impairment in 2021 in a greater amount than asset impairments in 2022 (+2.1 p.p.) and foreign exchange effects (+2.4 p.p.).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of Results 2021 vs 2020</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group's operating results in 2021, compared to 2020, have been impacted mainly by:</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">48</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.44pt">Changes in the consolidation perimeter:</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main changes compared to 2020 are the exclusion from the perimeter of consolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment (after the incorporation of VMO2 in June 2021, the results for which are accounted for under the equity method, based on the Group&#8217;s 50% stake), the towers divisions of Telxius Group (since their sale in June 2021), Telef&#243;nica de Costa Rica (since August 2021) and InfraCo, SpA in Chile (since the sale of a 60% interest therein in July 2021).</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.44pt">Gains or losses on the sale of companies:  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021, we recorded significant gains resulting from the establishment of VMO2 (4,460 million euros), the sale of the European and Latin American towers divisions of the Telxius Group (6,099 million euros), the establishment of FiBrasil (26 million euros), the sale of 60% of the shares in InfraCo, SpA (274 million euros) and the sale of Telef&#243;nica de Costa Rica (136 million euros). In 2020, we mainly recorded a gain of 29 million euros related to the initial registration at fair value of the stake of Telef&#243;nica in the joint venture with the Allianz Group for the deployment of fiber in Germany.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.44pt">Foreign exchange effects:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign exchange rates</span><span style="background-color:#ffffff;color:#ffde0f;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">had a negative impact on our 2021 results, mainly due to the depreciation of the Brazilian real against the euro. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.44pt">Restructuring costs:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Restructuring costs were significantly higher in 2021 (1,663 million euros) than in 2020 (86 million euros), as a result mainly of the Individual Suspension Plan adopted under the Social Pact for Employment  in Telef&#243;nica Spain in 2021.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Impairment of goodwill and other assets</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: In 2021 the Group recorded an impairment of goodwill amounting to 416 million euros, mainly relating to Telef&#243;nica Peru. In 2020, the Group recorded an impairment of  goodwill and certain other assets of Telef&#243;nica Argentina, amounting to 894 million euros.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.33pt">Spectrum acquisition:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> While spectrum acquisitions do not have an impact on operating income (except on amortizations), they affect CapEx and OIBDA-CapEx, which are discussed further below. In 2021, spectrum acquisitions amounted to 1,704 million euros of which 706 million euros corresponded to Telef&#243;nica Brazil, 515 million euros to our former Telef&#243;nica United Kingdom segment (which acquisitions took place before VMO2 was established), 352 million euros to Telef&#243;nica Spain and 131 million euros to Telef&#243;nica Chile. In 2020, spectrum acquisitions amounted to 126 million euros of which 94 million euros corresponded to Telef&#243;nica United Kingdom and 32 million euros to Telef&#243;nica Brazil.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See also see "Item 5. Operating and Financial Review and Prospects&#8213;Operating Results&#8213;Significant Factors Affecting the Comparability of Our Results of Operations in the Periods under Review&#8221;.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Revenues </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">in 2021 totaled 39,277 million euros, decreasing by 8.8% year on year, mainly as a result of the changes in the consolidation perimeter (-9.1 p.p.), in particular, the constitution of VMO2 and the related exclusion from our consolidation perimeter of the entities that comprised our former Telef&#243;nica United Kingdom segment from that date, the sale of the towers divisions of Telxius Group and the sale of Telef&#243;nica de Costa Rica; and to a lesser extent, the evolution of foreign exchange rates (-2.3 p.p.) and, in particular, the depreciation against the euro of the Brazilian real, offset in part by the increase in handset sales and service revenues in Telef&#243;nica Germany and Telef&#243;nica Hispam.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> mainly included gains on the sale of assets and, to a lesser extent, own work capitalized in our fixed assets. In 2021, other income totaled 12,673 million euros compared to 1,587 million euros in 2020. This increase was mainly attributable to the gains resulting from the sale of the European and Latin American towers divisions of Telxius Group (6,099 million euros), the establishment of VMO2 (4,460 million euros), the sale of 60% of the shares in InfraCo, SpA (274 million euros), the sale of Telef&#243;nica de Costa Rica to Liberty Global (136 million euros) and the establishment of FiBrasil in Brazil (26 million euros). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> was 29,967 million euros in 2021, down 3.8% year-on-year. This decrease was mainly attributable to the impact of changes in the scope of consolidation (-8.8 p.p.) and changes in foreign exchange rates (-2.2 p.p.), partially offset by the higher restructuring costs (+5.1 p.p.). The evolution of these expenses is explained in greater detail below: </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 12,258 million euros in 2021, down 5.8% year-on-year, as a result mainly of changes in the scope of consolidation (-11.0 p.p.) and, to a lesser extent, the impact of changes in foreign exchange </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">49</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">rates (-1.7 p.p.), offset in part by the higher TV content costs and higher costs related to IT sales in Telef&#243;nica Spain.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Personnel expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 6,733 million euros in 2021, up 27.5% year-on-year mainly as a result of the higher restructuring costs (+30.2 p.p.), mainly related to the Individual Suspension Plan in Spain, partially offset by the impact of changes in the scope of consolidation (-5.2 p.p.) and changes in foreign exchange rates (-2.2 p.p.).</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The average headcount was 107,776 employees in 2021, down 4.8% compared to 2020, mainly as a result of the deconsolidation of the entities that comprised our former Telef&#243;nica United Kingdom segment in June</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021. </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.3pt">Other expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(principally external services and, to a significantly lesser extent, taxes other than income tax) amounted to 10,976 million euros in 2021, down 14.7% year-on-year. This decrease was mainly attributable to the impact of changes in the scope of consolidation (-7.9 p.p.), the impact of foreign exchange rates (-2.7 p.p.) and the positive impact of the judicial decisions of the Brazilian Supreme Court recognizing the right to deduct the state tax on goods and services (ICMS) from the calculation of the basis of the Social Integration Program-PIS (Programa de Integra&#231;&#227;o Social) and the Financing of Social Security- COFINS (Contribui&#231;&#227;o para Financiamiento da Seguridade Social) (243 million euros in 2021).</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the foregoing, OIBDA totaled 21,983 million euros in 2021, compared with 13,498 million euros in 2020, significantly impacted by the gains from the transactions recorded in "Other income". OIBDA increased in Telef&#243;nica Germany and Telef&#243;nica Hispam due to revenues growth.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 8,397 million euros in 2021, decreasing by 10.3% compared to 2020 mainly as a result of changes in the consolidation perimeter (-4.1 p.p.), mainly due to the recognition of the entities that comprised our former Telef&#243;nica United Kingdom segment as a disposal group held for sale in May 2020, the impact of foreign exchange rates (-2.6 p.p.) and the impact of the accelerated amortization related to the transformation of the operating model of Telef&#243;nica M&#233;xico, which affected 2020 to a greater extent (-2.5 p.p.). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income (OI)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2021 totaled 13,586 million euros, compared with 4,139 million euros in of 2020, significantly impacted by the gains recorded in &#8220;Other income&#8221; (+264.9 p.p.). To a much lesser extent, the year-on-year increase was explained by the impairment of goodwill and other assets in Telef&#243;nica Argentina in 2020, which exceeded the amount of the impairment in Telef&#243;nica del Per&#250; in 2021 (+11.5 p.p), the judicial decisions of the Brazilian Supreme Court recognizing the right to deduct the state tax on goods and services (ICMS) from the calculation of the basis of the Social Integration Program-PIS (Programa de Integra&#231;&#227;o Social) and the Financing of Social Security- COFINS (Contribui&#231;&#227;o para Financiamiento da Seguridade Social) (+6.4 p.p.) and the impact of the accelerated amortization related to the transformation of the operating model of Telef&#243;nica M&#233;xico, following the AT&amp;T agreement in 2020 (+5.6 p.p.). The year-on-year increase was partially offset by the higher restructuring costs, which were mainly related to the Individual Suspension Plan in Spain in 2021 (-38.2 p.p.), which totaled 1,382 million euros, changes in the consolidation perimeter (-21.6 p.p.), the provision for contingencies in Telef&#243;nica Brazil (-4.1 p.p.) and the foreign exchange effects (-3.0 p.p.). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">share of income (loss) of investments</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> accounted for by the equity method for 2021 was a loss of 127 million euros, compared to income of 2 million euros in 2020, mainly due to the results of  VMO2 (which was established on June 1, 2021).  </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net financial expense</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,364 million euros in 2021, decreasing by 194 million euros compared to 2020 due to the reduction of debt in European currencies (despite the increase in interest rates in Brazil and higher level of debt denominated in Brazilian reals) as well as other non-recurrent positive effects.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Corporate income tax</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,378 million euros in 2021, increasing from 2020 (626 million euros) due mainly to the accounting effect of the tax assessments resulting from the tax inspection in Spain (see &#8220;Item 8. Financial Information - Consolidated Financial Statements - Tax Proceedings -  Inspections in the tax group in Spain&#8221;) , a decrease in deferred tax assets in Spain due to the restatement of their recoverability, provision in Peru due to unfavorable ruling by the Supreme Court (see &#8220;Item 8. Financial Information - Consolidated Financial Statements - Tax Proceedings - Telef&#243;nica del Per&#250;&#8221;) and adjustments for tax rates changes. The increase was </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">50</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">partially offset by the provision recorded in Spain in connection with the Individual Suspension Plan and non-taxable interests in Brazil. A substantial portion of the capital gains obtained in 2021 were exempt from corporate tax.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">profit for the year attributable to equity holders of the parent</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for 2021 was 8,137 million euros (1,582 million euros in 2020). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Profit attributable to non-controlling interests </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was 2,580 million euros in 2021(375 million euros in 2020) mainly as a result of profit attributable to non-controlling interests in Telxius, which completed the sale of the towers divisions in Europe and Latin America in 2021.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CapEx</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> were 7,267 million euros in 2021, increasing 24.0% year on year as a result of the spectrum purchase mainly in Telef&#243;nica Brazil (706 million euros), our former Telef&#243;nica United Kingdom segment (515 million euros in the first five months of 2021), Telef&#243;nica Spain (352 million euros) and Telef&#243;nica Chile (131 million euros). CapEx in 2020 was limited due to the COVID-19 pandemic.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OIBDA-CapEx</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> was 14,716 million euros in 2021, compared to 7,637 million euros in 2020, increasing by 92.7% y-o-y.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_67"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:700;line-height:120%">         </span></div><div style="margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">51</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Segment results</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For information on how segment information is presented in this Report, see &#8220;&#8213;History and Development of the Company&#8213;Business areas&#8221;.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"> </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TELEF&#211;NICA SPAIN</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of accesses in Telef&#243;nica Spain over the past three years as of December 31 of such years: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.623%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ACCESSES</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Thousands of accesses</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed telephony accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,731.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,376.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,102.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Broadband</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,961.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,874.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,854.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FTTH</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,614.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,847.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,042.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,977.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,484.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,347.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">888.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">752.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">796.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(15.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,383.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,210.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,099.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IoT </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,706.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,521.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,451.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pay TV</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,934.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,716.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,526.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retail Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">37,615.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">36,460.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">36,838.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(3.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Wholesale Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,689.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,674.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,653.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(0.4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(0.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FTTH Wholesale Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,599.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,982.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,206.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Accesses</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">41,304.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">40,135.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">40,492.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(2.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">0.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Notes:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Includes "fixed wireless" and Voice over IP accesses.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accesses in 2022 include an upward revision of approximately 500 thousand IoT accesses recorded in March 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2022, we launched miMovistar, a new global portfolio for the general public through which customers will be able to choose the products and services they need in a simple, customizable and flexible way. The proposal is the natural evolution of Movistar Fusi&#243;n, Movistar's benchmark product over the last ten years.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The portfolio starts with connectivity (Internet, voice and data), to which, if the customer wishes, modules can be added to include a television content offer and value-added services such as, initially, health, gaming and security, to build the most complete and adapted formula that the customer wants. The company plans to integrate in the future more services within the miMovistar ecosystem, such as Movistar Car/Moto, Movistar Money, Home Insurance, Energy, as well as additional connectivity options. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With this new move, Telef&#243;nica Spain responds to the needs derived from the transformation of the market and a consumer who demands flexibility and personalization, both in connectivity services and in content or services relevant to his life, while being able to control costs.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, each of the miMovistar connectivity options also includes a device at no cost to the customer, whose catalog depends on their choice and includes, in addition to smartphones, smart TVs, tablets, laptops or smart watches.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Existing Movistar Fusi&#243;n customers can choose to continue with their current tariff or switch to miMovistar and adapt it to what they choose.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Spain's investment in the 5G mobile network made it possible to achieve 85% of population coverage as of December 31, 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, in 2022, Telef&#243;nica Spain has continued to improve its offer proposals to strengthen its relationship with customers and reach new segments, highlighting:</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Solar 360</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, a joint venture of Repsol and Telef&#243;nica Spain formed to develop a solar self-consumption business. The new company started to operate in June 2022, offering a comprehensive self-consumption solution to private customers, communities of neighbors and companies, SMEs, and large companies, through solar panel installation.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">52</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Movistar Prosegur Alarmas</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, a joint venture of Prosegur and Telef&#243;nica Spain, reached 445 thousand customers as of December 31, 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses 2022 vs 2021</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Spain had 40.5 million </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> as of December 31, 2022, an increase of 0.9% as compared to December 31, 2021, due to an increase in the IoT accesses base. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> convergent offer</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (residential and SMEs) had a customer base of 4.5 million customers as of December 31, 2022, a decrease of 2.2% y-o-y.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Retail fixed accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 8.1 million and decreased 3.3% as compared to December 31, 2021, with a net loss of 274 thousand accesses as of December 31, 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Retail broadband accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 5.9 million (-0.3% y-o-y), with a net loss of 20 thousand accesses as of December 31, 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Retail fiber (FTTH) accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> reached 5.0 million customers (+4.0% as compared to December 31, 2021), representing 86.1% of total retail broadband customers (+3.6 p.p. y-o-y) with net adds of 195 thousand accesses as of December 31, 2022. At December 31, 2022, fiber deployment reached 28.0 million premises, 1.1 million more than at December 31, 2021.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total retail mobile accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 19.3 million as of December 31, 2022, an increase of 4.7% as compared to December 31, 2021 as a result of an increase in the IoT accesses base (+36.9% y-o-y impacted by an upward revision recorded in March 2022 figures, in an amount of 500 thousand accesses) and prepay accesses (+5.8% y-o-y), with a decrease in mobile contract accesses (-0.7% y-o-y). </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> reached 3.5 million at December 31, 2022, decreasing 5.1% year-on-year due to a higher penetration of customers in service bundles that do not include TV.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 3.7 million at December 31, 2022, down 0.6% year-on-year, and wholesale fiber (FTTH) accesses were up 7.5% year-on-year (87.8% of total wholesale accesses at December 31, 2022 compared with 81.2% at December 31, 2021).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses 2021 vs 2020</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Spain had 40.1 million </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> as of December 31, 2021, a decline of 2.8% as compared to December 31, 2020, partly driven by a commercial policy focused on generating value and promoting higher market rationalization by reducing promotional activity, which had an impact on commercial activity. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The convergent offer (residential and SMEs) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">had a customer base of 4.6 million customers as of December 31, 2021, a decrease of 3.6% y-o-y.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Retail fixed accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 8.4 million and decreased 4.1% as compared to December 31, 2020, with a net loss of 355 thousand accesses in 2021.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Retail broadband accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 5.9 million (-1.5% y-o-y), with a net loss of 87 thousand accesses during 2021.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Retail fiber (FTTH) accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> reached 4.8 million customers (+5.1% as compared to December 31, 2020), representing 82.5% of total retail broadband customers (+5.1 p.p. y-o-y) with net adds of 234 thousand accesses in 2021. At December 31, 2021, fiber deployment reached 26.9 million premises, 1.7 million more than at December 31, 2020.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total retail </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">mobile accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 18.5 million as of December 31, 2021, a decrease of 2.6% as compared to December 31, 2020 as a result of a decrease in both mobile contract accesses (-1.1% y-o-y) and prepay accesses (-15.3% y-o-y). </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> reached 3.7 million at December 31, 2021, decreasing 5.5% year-on-year.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 3.7 million at December 31, 2021, down 0.4% year-on-year, although wholesale fiber (FTTH) accesses (81.2% of total wholesale accesses at December 31, 2021 compared with 70.5% at December 31, 2020) were up 14.7% year-on-year.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">53</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows Telef&#243;nica Spain&#8217;s results over the past three years: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.227%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.037%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TELEF&#211;NICA SPAIN</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,401&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,497&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 25.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile handset revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">548&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 25.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues ex-mobile handset sales</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,137</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,948</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(1.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(0.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retail</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,906&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,699&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,662&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Wholesale and Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,231&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,286&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">540&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">664&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">803&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,636)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,008)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,748)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,201)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,765)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(44.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,937)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,867)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,939)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,046&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,377&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,588&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(33.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,184)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,153)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,157)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of intangible assets, depreciation of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,892)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,807)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,747)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(292)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(346)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(410)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating income (OI)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,862</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,224</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,431</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(57.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">98.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,815&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,550&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA-CapEx</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,638&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,562&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,038&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(57.1&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94.5&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">  <br/></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results 2022 vs 2021</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2022 amounted to 12,497 million euros, growing 0.6% y-o-y. This trend was supported by the continued growth of mobile handset revenues, due to the inclusion in the portfolio of several devices as part of the packages (including 5G smartphones of different brands, smart TVs, tablets and laptops, among others). The evolution of revenues excluding mobile handset sales is described below:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Retail revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 9,662 million euros in 2022, decreasing by 0.4% year-on-year, due in part to the customer base decline, partially offset by higher IT revenues due to the higher demand for digitalization projects in the B2B segment.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Wholesale and other revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 2,286 million euros in 2022, decreasing by 1.4% year-on-year, due mainly to the decrease in fixed traffic revenues, mobile interconnection revenues due to lower mobile termination rates, and the impact of less "La Liga" content available in the wholesale offer since mid-August. These have been partially offset by the recovery in roaming-in revenues to pre-pandemic levels and the growth of revenues from MVNOs.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (mainly external services and taxes) amounted to 8,712 million euros in 2022, down 10.2% year-on-year compared to 2021. The year-on-year evolution was mainly attributable to the restructuring costs recorded in 2021 (1,382 million euros). </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 5,008 million euros in 2022, up 8.0% year-on-year compared to 2021, mainly attributable to higher handset costs in the year (from commercial campaigns offering free devices) as well as the costs related to IT revenue growth. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 1,765 million euros in 2022, down 44.9% year-on-year compared to 2021. The year-on-year evolution was mainly attributable to the restructuring costs in 2021, mainly related to the Individual Suspension Plan (1,382 million euros). </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,939 million euros in 2022, up 3.9% year-on-year compared to 2021, mainly attributable to higher energy costs. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">54</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA reached 4,588 million euros in 2022, a year-on-year increase of 35.9%.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,157 million euros in 2022, increasing by 0.2% year-on-year.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Operating income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> amounted to 2,431 million euros in 2022, a year-on-year increase of 98.6%. Operating income was adversely affected in 2021 by restructuring costs totaling 1,382 million euros (related mainly to the Individual Suspension Plan) and the provisions recorded in Telef&#243;nica Spain totaling 44 million euros in connection</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">with the restructuring of the distribution channels. In 2022, a restructuring provision of 57 million euros was recorded in Telef&#243;nica Spain.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results 2021 vs 2020</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2021 amounted to 12,417 million euros, growing 0.1% y-o-y. This trend was supported by handset revenues due to the launching of the new Fusion portfolio, as the new portfolio included several devices as part of the packages (including 5G smartphones of different brands, smart TVs, tablets and laptops, among others). The evolution of revenues excluding mobile handset sales is described below:</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Retail revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 9,699 million euros in 2021, decreasing by 2.1% year-on-year, due in part to the customer base decline and convergent customer value mix erosion (mainly due to the worsening of economic conditions as a result of the COVID-19 pandemic), partially offset by higher IT revenues due to the higher demand for digitalization projects in the B2B segment.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Wholesale and other revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 2,318 million euros in 2021, increasing by 3.9% year-on-year , due, among others, to a recovery in roaming-in revenues.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (mainly external services and taxes) amounted to 9,704 million euros in 2021, up 22.9% year-on-year. This increase was mainly attributable to restructuring costs in 2021 (1,382 million euros). </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 4,636 million euros in 2021, up 10.1% year-on-year compared to 2020. This increase was mainly attributable to higher handset costs in the year as well as the costs related to IT revenue growth. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 3,201 million euros in 2021, up 83.1% year-on-year compared to 2020. This increase was mainly attributable to a restructuring cost in 2021 (1,382 million euros) related mainly to the Individual Suspension Plan adopted under the Social Pact for Employment in Telef&#243;nica Spain in 2021. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,867 million euros in 2021, down 3.6% year-on-year compared to 2020. This decrease was mainly attributable to commercial, network and systems&#8217; efficiencies partially offset by higher energy costs. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA reached 3,377 million euros in 2021, a year-on-year decrease of 33.1%.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,153 million euros in 2021, decreasing by 1.4% year-on-year, mainly as a result of an acceleration of the decommissioning of central offices and the change in the depreciation period of radio-links.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 1,224 million euros in 2021, a year-on-year decrease of 57.2%. The year-on-year decrease was mainly driven by the restructuring costs provision in 2021, the lower service revenues and the impact of the higher energy costs for most of the year.</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">55</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">VMO2</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After receiving the final approval from the UK Competition &amp; Markets Authority (CMA), the joint venture between Liberty Global and Telef&#243;nica was established on June 1, 2021, and our former Telef&#243;nica United Kingdom segment was replaced by the new VMO2 segment. Telef&#243;nica ceased to fully consolidate the results of the entities that composed our former Telef&#243;nica United Kingdom segment in its consolidated financial statements and started to account for VMO2's results under the equity method. Therefore, since June 1, 2021, for purposes of the Group&#8217;s consolidated results, the results of VMO2 are reflected under a single heading of the consolidated income statement, &#8220;Share of income of investments accounted for by the equity method&#8221;. However, the VMO2 segment information included in this section is presented under management criteria, and shows 100% of the VMO2's results; Telef&#243;nica&#8217;s actual percentage ownership of VMO2 is 50%.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since it is not practicable to restate the historical segment financial information to reflect this change, the segment discussions included in this section consist of (i) for purposes of the 2022-2021 period-on-period discussions, an analysis of the results of our VMO2 segment (which, for purposes of 2022, consists of the results obtained by VMO2 from January 1 to December 31, 2022, and, for purposes of 2021, consists of the results obtained by VMO2 from June 1 (the date on which VMO2 was established) to December 31, 2021), and (ii) for purposes of the 2021-2020 period-on-period discussions, an analysis of the results of our former Telef&#243;nica United Kingdom segment (which, for purposes of 2021, consists of the results obtained in the first five months of the year, until the establishment of VMO2 and the elimination of this segment). For additional information , see &#8220;&#8213;History and Development of the Company&#8213;Business areas&#8221;, "Item 5. Operating and Financial Review and Prospects&#8213;Operating Results&#8213;Significant Factors Affecting the Comparability of Our Results of Operations in the Periods under Review&#8221;, and "Item 10. Additional Information&#8212;Material Contracts&#8212;Creation of 50:50 joint venture with Liberty Global for the combination of both groups' businesses in the United Kingdom".</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">More than one year after the formation of VMO2, the company continues to integrate and innovate while investing heavily to expand and upgrade its fiber and 5G networks to provide the highest quality connectivity to more regions of the country.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The FTTP speed upgrade of the existing network is accelerating after the completion of tests in the first quarter of 2022, paving the way for the planned deployment of fiber throughout the fixed network, which began in the fourth quarter of 2022 and is expected to be completed by 2028.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The &#8220;Lightning&#8221; project rollout now totals 2.9 million accesses, further reinforcing VMO2's gigabit leadership in the UK with speeds of 1.1 Gbps offered across its entire footprint of 16.1 million premises passed.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 29, 2022, T. Infra, Liberty Global plc ("Liberty Global") and InfraVia Capital Partners ("InfraVia") reached an agreement for the establishment of a joint venture that will deploy fiber-to-the-home (FTTH) to 5 million homes in the United Kingdom currently not reached by VMO2's network, with potential for expansion to an additional 2 million homes. The fiber network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the lead customer, as well as providing a range of technical services. Liberty Global and Telef&#243;nica jointly hold a 50% stake in the joint venture through a holding company, with InfraVia owning the remaining 50%.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">VMO2 launched the &#8220;Better Connections Plan&#8221;, its first sustainability strategy as a joint business, in May 2022 with a commitment to reduce carbon emissions, champion the circular economy, such as recycling devices and donating smartphones and tablets, and giving back to the community. The company has an ambitious target to achieve net zero carbon emissions across its operations, products and supply chain by the end of 2040, 10 years ahead of the Paris Agreement and the UK's target of net zero emissions by 2050.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of accesses of VMO2 (or, with respect to 2020, the aggregated accesses of our former Telef&#243;nica United Kingdom segment and Virgin Media), in each case as of December 31 of such years.</span></div><div style="margin-top:9pt"><span><br/></span></div><div style="margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">56</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.859%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.037%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ACCESSES </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Thousands of accesses</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Broadband</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,449.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,626.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,661.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">UBB</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,420.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,596.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,653.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,336.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,276.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33,831.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,251.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,119.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,968.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,594.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,938.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,087.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IoT</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,490.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,219.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,775.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retail Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">44,067.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">46,021.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">46,926.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Wholesale Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">9,210.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">9,966.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,818.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Accesses</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">53,278.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">55,987.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">57,745.4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> The access information provided as of December 31, 2022 and December 31, 2021 includes 100% of the accesses of VMO2. Telef&#243;nica&#8217;s actual percentage ownership of VMO2 is 50%. The access information provided as of December 31, 2020 includes the accesses of our former Telef&#243;nica United Kingdom segment and Virgin Media as of such date.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses 2022 vs 2021</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total accesses base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 3.1% year-on-year and stood at 57.7 million as of December 31, 2022, mainly driven by the increase in the mobile accesses base, which grew 4.8% year-on-year and reached 33.8 million accesses.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">contract mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 0.9% year-on-year and reached 16.1 million accesses adding 149.5 thousand new accesses to the base in 2022. Churn remained stable at low levels.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">prepay mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased 1.9% year-on-year and totaled 8.0 million accesses declining 150.8 thousand accesses to the base in 2022.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IoT mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 18.9% year-on-year and reached 9.8 million accesses underpinned by the Smart Metering Programme roll out.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">The fixed broadband base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> grew 0.6% year-on-year and reached 5.7 million accesses, adding 34.9 thousand new accesses in 2022. UBB accesses grew 1.0% year-on-year with a net gain of 57.0 thousand new accesses in 2022, supported by the increase in customer demand for higher speeds. The company&#8217;s average broadband speed is 301 Mbps and increased 41% year-on-year, five times higher than the national average.</span></div><div style="margin-top:9pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses 2021 vs 2020</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total accesses base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 5.1% year-on-year and stood at 56.0 million at December 31, 2021, mainly driven by a 6.4% increase in the mobile accesses base, which reached 32.3 million.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">contract mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 2.2% year-on-year and reached 15.9 million accesses adding 344 thousand new accesses to the base as a result of the increasing normalization of commercial activity as COVID-19 restrictions progressively eased.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">prepay mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased 1.6% year-on-year and reached 8.1 million accesses losing 133 thousand accesses in 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IoT mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 26.6% year-on-year and reached 8.2 million accesses as the Smart Metering Programme (one of the largest IoT projects in the world) roll out regained pace.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed broadband base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 3.3% year-on-year and reached 5.6 million accesses adding 177 thousand new accesses to the base in 2021 reflecting continued demand for faster broadband speeds.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of the VMO2 segment's results over the past two years (which, for the purposes of 2022, consists of the results obtained by VMO2 from January 1 to December 31, 2022, and, for the purposes of 2021, consists of the results obtained by VMO2 from June 1 (the date on which VMO2 was established) to December 31, 2021):</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">57</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:64.104%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.299%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">VMO2</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">June 1 to December 31, 2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">January 1 to December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,223&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,155&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mobile Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,122</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,938</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 31pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Handset revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,234&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,894&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fixed Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,782</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,639</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">319</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">578</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">290&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">551&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,601)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,019)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(786)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,348)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,676)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,938)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,450&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,401&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,395)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,170)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating income (OI)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">55</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">231</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(504)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,020)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Realized and unrealized qains on derivate instruments, net </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,567&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency transaction losses, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,296)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(355)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result before taxation</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(300)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">507</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Result for the period</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">492&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CapEx</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,508&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,707&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OIBDA-CapEx</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">942&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,694&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#242424;font-family:'Telefonica Sans',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Notes:</span></div><div style="text-align:justify"><span style="color:#242424;font-family:'Telefonica Sans',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#242424;font-family:'Telefonica Sans',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> VMO2 entered into various derivative instruments to manage interest rate exposure and foreign currency exposure. Generally, VMO2 does not apply hedge accounting to its derivative instruments. Accordingly, changes in the fair values of most of its derivatives are recorded in the finance results of its consolidated income statement.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results 2022 vs 2021</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year-on-year changes are mainly explained by the fact that the </span><span style="color:#2b3447;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">VMO2 segment's results for 2022 include</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> VMO2&#8217;s results for the full year, whereas the VMO2 segment's results for 2021 include VMO2&#8217;s results for seven months only. Further, the 2021 results were adversely affected by restructuring and integration costs incurred in connection with the incorporation of VMO2. Since both periods are not entirely comparable, the below explanations discuss the drivers of the 2022 and 2021 results separately.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 12,155 million euros supported by the price increase in fixed and mobile businesses alongside with synergies realization, offset in part by the impact of the macroeconomic downturn.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Mobile Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 6,938 million euros in 2022 and included 1,894 million euros from handset sales, which were impacted by the current macroeconomic environment, mitigated in part by price increases and the recovery of roaming revenues.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Fixed business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 4,639 million euros in 2022, impacted by the decline in fixed-line ARPU driven in part by the increasing cost-of-living</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">partially mitigated by price increases.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 578 million euros in 2022 driven by the roll out of SMIP (Smart metering programme) and other digital products.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (mainly external services and taxes) was 8,305 million euros in 2022, impacted by the realization of synergies and other cost efficiencies that resulted from the formation of the joint venture, which helped to offset inflationary tendencies. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">58</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 4,019 million euros in 2022, positively impacted by the realization of synergies, mainly due to the migration of the Virgin Mobile MVNO contract coupled with other cost efficiencies.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.53pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 1,348 million euros in 2022, positively impacted by the realization of synergies that resulted from the formation of the joint venture, through the execution of restructuring plans aiming to deliver a single operating model and a leaner company.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,938 million euros in 2022, impacted by inflationary tensions, mainly by the increase in energy prices. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA in 2022 reached 4,401 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 4,170 million euros in 2022.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income (OI) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 231 million euros in 2022 underpinned by price rises in fixed and mobile businesses and cost efficiencies and synergies, mitigating the impact of inflation.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the period from June 1 to December 31, 2021, total </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 7,223 million euros, reflecting the combination of the fixed and mobile products and services brought together for United Kingdom customers by Telef&#243;nica United Kingdom and Virgin Media.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA totaled 2,450 million euros for the period from June 1 to December 31, 2021 and was adversely impacted by the restructuring and other integration costs.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">totaled 2,395 million euros for the period from June 1 to December 31, 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">totaled 55 million euros for the period from June 1 to December 31, 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The table below shows the reconciliation between VMO2's results and the share of income (loss) of investments accounted for by equity method in Telef&#243;nica:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:64.104%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.299%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">June 1 to December 31, 2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">January 1 to December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result for the period (100% VMO2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">492&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50% attributable to Telef&#243;nica Group</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">246&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based compensation </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(103)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> Amount related to incentive awards held by certain employees of VMO2 associated with ordinary shares of Liberty Global and Telef&#243;nica. Share-based compensation expense is included in Operating expenses in the consolidated income statement of VMO2.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">59</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">TELEF&#211;NICA UNITED KINGDOM</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of Telef&#243;nica United Kingdom's results over 2020 and 2021 (which, for purposes of 2021, consists of the results obtained in the first five months of the year, until the establishment of VMO2 and the elimination of this segment):</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"><tr><td style="width:1.0%"></td><td style="width:58.722%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.114%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.716%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.048%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #cbcbcb;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #cbcbcb;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #cbcbcb;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TELEF&#211;NICA UNITED KINGDOM</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021 (1)</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,708&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(60.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mobile Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,476</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,532</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(60.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Handset revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,816&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">642&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(64.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fixed Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">232</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">96</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(58.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">178&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(59.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,456)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(910)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(62.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(459)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(205)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(55.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,907)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(667)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(65.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,064&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">919&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(55.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(389)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(99.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of intangible assets, depreciation of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(322)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(99.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(67)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(100.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating income (OI)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">919</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(45.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">913&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">933&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA-CapEx</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,151&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">c.s.</span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Notes:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:115%">(1) As stated above, this includes the results of our former Telef&#243;nica United Kingdom segment until its elimination on June 1, 2021 (i.e., this shows the results obtained by this segment in the first five months of the year). This significantly affects the comparability of 2021 and 2020 results for this segment.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">c.s.: change of sign</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2021 amounted to 2,628 million euros, decreasing by 60.8% year-on-year due to the deconsolidation of our UK business since June 1, 2021 (-57.8 p.p.) Excluding this impact, total revenues decreased by 7.0% driven by the lockdown in the United Kingdom (from January to April 2021) and the change in the distribution model as a consequence of the end of the contract with Dixons Carphone in March 31, 2020, which resulted in changes in the mobile revenues allocation.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Mobile business revenues </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">reached 2,532 million euros in 2021, decreasing by 60.9% due to the change in the scope of consolidation (-57.8 p.p.). Excluding this impact, mobile business revenues decreased by 7.2% as a result of the lower handset sales due to the lockdown in the United Kingdom, which resulted in the closing of commercial shops in the first half of 2021, lower roaming revenues due to the travel-related restrictions implemented in connection with the COVID-19 pandemic and the change in the distribution model as a consequence of the end of the contract with Dixons Carphone in March 31, 2020.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA totaled 919 million euros in 2021, decreasing by 55.5% compared to 2020.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 919 million euros in 2021, decreasing 45.1%, due to the impact of the change in the scope of consolidation (-50.4 p.p.) and, to a much lesser extent, the foreign exchange effects (-0.1 p.p.). Excluding these impacts, the operating income year-on-year increased 26.2% thanks to a strict control of costs, as well as the positive impact of the change in the distribution model on expenses, which resulted in a decrease in the commissions paid by Telef&#243;nica United Kingdom.</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">60</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">TELEF&#211;NICA GERMANY</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of accesses in Telef&#243;nica Germany over the past three years as of December 31 of such years: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.151%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.453%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ACCESSES</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Thousands of accesses</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed telephony accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,180.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,179.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,211.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Broadband</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,261.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,262.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,294.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">UBB</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,797.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,856.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,939.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44,274.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45,693.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44,306.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,283.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,973.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,274.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,581.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,107.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,336.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IoT</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,410.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,612.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,695.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retail Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">48,804.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">50,219.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">48,891.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(2.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Accesses</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">48,804.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">50,219.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">48,891.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(2.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Notes:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Includes "fixed wireless" and Voice over IP accesses.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2022, Telef&#243;nica Germany delivered strong operational and financial momentum. The company continues to expand its mobile market share in a rational yet dynamic environment on the back of core business strength building on strong O2 brand appeal including strong customer demand for the innovative "O2 Grow" tariff, network parity and ESG leadership.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Germany&#8217;s key milestones in 2022 were as follows:</span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:10pt">Sustained commercial momentum, with 1.2 million new clients in contract driven by O2 Free portfolio and strong traction of the successful tariff innovation "O2 Grow".</span></div><div style="text-align:justify;text-indent:22.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:8.03pt">Telef&#243;nica Germany successfully completed its three-year "Investment for Growth&#8217; program", making strong progress with network modernization and 5G roll-out as well as fulfilling the coverage obligations of the German regulator. Telef&#243;nica Germany's 5G population coverage stood higher than 80% at year end, significantly over-achieving its initial target. The company aims for more than 90% coverage by year-end 2023 and believes it is on track to offer nationwide 5G coverage by no later than year-end 2025.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses 2022 vs 2021</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> total access base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased 2.6% year-on-year and stood at 48.9 million at December 31, 2022, mainly driven by a 3.0% decrease in the mobile accesses base, which reached 44.3 million.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">contract mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 4.9% year-on-year and reached 26.3 million accesses, increasing the share over the total mobile accesses base to 59.4%. Net adds reached 1.2 million accesses driven by high O2 brand appeal thanks to the O2 Free tariff portfolio&#8217;s gross add momentum in the market and the continued solid contribution of partner brands. Churn was 1.3% in 2022 (+0.1 p.p. y-o-y) leveraging network and service quality and commercial success despite being impacted by the European Electronic Communications Code (EECC) introduction, as a result of which contract customers can terminate their contracts at any time.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> prepay mobile customer base </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">decreased 14.2% year-on-year to 16.3 million accesses. This decrease was driven mainly by a combination of a technical base adjustment in December 2022 (which was revenue neutral) following the introduction of a stricter active SIM card definition and the ongoing German market trend of prepaid to postpaid migration leading to a net loss of 2.7 million prepay customers in 2022.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Broadband accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> reached 2.3 million accesses (up 1.4% y-o-y), with a net add of 31.9 thousand accesses in 2022, reflecting the success of the "O2 myHome" tariff portfolio with high-speed cable and fiber connections as well as FMS (Fixed Mobile Substitution) driving customer demand.</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">61</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses 2021 vs 2020</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total access base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 2.9% year-on-year and stood at 50.2 million at December 31, 2021, mainly driven by a 3.2% increase in the mobile accesses base, which reached 45.7 million.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">contract mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> grew 6.5% year-on-year and reached 25.1 million accesses, increasing the share over the total mobile accesses base to 54.9%. Net adds reached 1.5 million accesses, driven by the sustained customer demand for the O2 Free portfolio and a solid contribution from partner brands. Churn remained at a historic low.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">prepay mobile customer base</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased 1.6% year-on-year to 19.0 million accesses. Reflecting the unchanged market trend of prepaid to postpaid migration, the prepay segment posted a net loss of 310 thousand customers in 2021.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Broadband accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">reached 2.3 million accesses (up 0.1% y-o-y), with a net add of 1.2 thousand accesses in 2021, in a market focused on high-speed fixed connectivity.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of Telef&#243;nica Germany&#8217;s results over the past three years: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.174%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.330%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TELEF&#211;NICA GERMANY</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr style="height:15pt"><td colspan="18" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,765&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,224&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mobile Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,730</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,942</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,394</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 23.5pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Handset revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,423&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,450&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fixed Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">785</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">814</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">806</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(1.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">153&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,435)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,403)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,524)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(611)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(585)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(622)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,313)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,493)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,673)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,309&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,424&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,295)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of intangible assets, depreciation of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,862)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,809)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,659)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(532)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(585)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(636)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">30</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">263</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">n.m.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">n.m.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,094&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,284&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA-CapEx</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,140&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,349&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6.1)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.3&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">n.m.: not meaningful</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results 2022 vs 2021</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> were 8,224 million euros in 2022, a year-on-year increase of 5.9%, driven by the increase in the mobile business.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.44pt">Mobile business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 7,394 million euros, increasing 6.5% y-o-y. This reflects the sustained mobile service revenue momentum on the back of the ongoing strong commercial traction of the O2 brand and a solid contribution from partners, more than compensating for the negative impact from the accelerated Mobile Termination Rate glide path (which has led to a decrease in termination charges).</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.44pt">Handset revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (which are included in mobile business revenues) amounted to 1,652 million euros, increasing 13.9% y-o-y due to continued good customer demand and availability of devices at Telef&#243;nica Germany's, with customers increasingly opting for longer-term handset financing.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">62</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.44pt">Fixed business</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">revenues </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">were 806 million euros, decreasing 1.0% y-o-y, reflecting the lower European termination rates in the carrier business, offset in part by the steadily growing share of high value customers in the fixed retail broadband accesses.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile ARPU</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> was 10.1 euros (+1.5% y-o-y) due to the 6.2% y-o-y increase in prepay ARPU, offset in part by the 1.5% y-o-y decrease in contract ARPU reflecting the accelerated Mobile Termination Rate (MTR) glide path and higher focus on customer loyalty and retention. Data ARPU was 6.7 euros (+10.8% y-o-y), supported by the success of the O2 Free portfolio. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:40.982%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.486%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TELEF&#211;NICA GERMANY</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ARPU (EUR)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">9.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:29.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Data ARPU (EUR)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Excludes IoT.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(mainly external services and taxes) amounted to 5,819 million euros in 2022, increasing 6.2% year-on-year.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,524 million euros in 2022, increasing 5.0% year-on-year compared to 2021. This increase was mainly attributable to higher hardware cost of sales partially offset by positive effects from cuts in the MTR (Mobile Termination Rate) fees paid to other operators. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 622 million euros in 2022, increasing 6.2% year-on-year compared to 2021 mainly explained by the social security payments received from the Government in 2021 in connection with employees affected by the temporary closing of O2 shops during the enforced COVID-19 lockdown in the first half of 2021 and the salary increase in 2022, partially offset by a y-o-y lower number of full-time employees.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,673 million euros in 2022, increasing 7.2% year-on-year compared to 2021 reflecting higher energy costs, technology transformation and commercial activity costs. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA totaled 2,558 million euros in 2022, increasing by 5.5% y-o-y. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,295 million euros in 2022, decreasing 4.1% year-on-year mainly as a result of the 3G switch-off at year-end 2021 in combination with the decision to shorten the useful life of assets in the context of technology optimization and modernization. This was partly offset by higher right of use asset amortization and new additions in IT-architecture added in the context of network modernization.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 263 million euros in 2022, compared to 30 million euros in 2021, thanks to the higher revenues driven by Telef&#243;nica Germany's own brand momentum, and from efficiency gains and tight cost management.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results 2021 vs 2020</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Total revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> were 7,765 million euros in 2021, with a year-on-year increase of 3.1%, driven by the increase in revenues in both the mobile business and the fixed business.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Mobile business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 6,942 million euros, increasing 3.2% y-o-y. This positive trend reflects strong trading momentum and the success of the O2 brand.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Handset revenues </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(which are included in mobile business revenues) amounted to 1,450 million euros, increasing 1.9% y-o-y due to the continued strong demand for high value handsets.</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">63</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Fixed business revenues </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">were 814 million euros, increasing by 3.6% y-o-y due to the particularly strong customer base growth and higher share of VDSL customers.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile ARPU</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> was 10.0 euros (1.1% y-o-y) due to the 4.0% y-o-y increase in prepay ARPU, while contract ARPU decreased by 1.3% y-o-y. Data ARPU was 6.1 euros (+3.6% y-o-y), fueled by the successful O2 Free portfolio. </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (mainly external services and taxes) amounted to 5,481 million euros in 2021, increasing 2.3% year-on-year. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,403 million euros in 2021, down 1.3% year-on-year compared to 2020 mainly driven by the positive effects from cuts in the MTR (Mobile Termination Rate) fees paid to other operators and lower hardware cost of sales.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Personnel expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 585 million euros in 2021, down 4.2% year-on-year compared to 2020 mainly due to lower restructuring costs (-3.3 p.p.), the social security payments received from the Government in connection with employees affected by the temporary closing of O2 shops during the enforced COVID-19 lockdown and a lower base of full-time employees, mainly in customer service.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,493 million euros in 2021, increasing 7.8% year-on-year compared to 2020 mainly driven by higher commercial activity costs, higher marketing spend to enhance brand perception and higher technology transformation costs, including 3G switch-off.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">totaled 2,424 million euros in 2021, growing by 5.0% y-o-y.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,394 million euros in 2021, staying flat (0.0%) year-on-year as the positive effect from the end of the useful life of the UMTS (Universal Mobile Telephone System) licenses in 2020, and was offset by the completion in 2021 of the 3G switch-off, further network modernization and higher rights of use asset amortization.         </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 30 million euros in 2021, compared to an operating loss of 85 million euros in 2020, positively impacted by the improvement in revenues and the continued measures in cost management and generation of efficiencies.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TELEF&#211;NICA BRAZIL</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of accesses of Telef&#243;nica Brazil over the past three years as of December 31 of such years: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.321%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.745%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ACCESSES</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Thousands of accesses</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed telephony accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,994.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,506.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,012.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(16.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Broadband</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,315.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,262.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,419.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">UBB</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,084.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,535.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,967.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 55pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FTTH</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,377.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,608.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,482.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">78,523.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,912.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">97,973.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33,662.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34,287.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39,305.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34,418.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,166.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">43,947.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IoT</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,443.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,458.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,719.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pay TV</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,247.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,114.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">966.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IPTV</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">890.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">916.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">898.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retail Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">95,145.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">98,853.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">112,423.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Accesses</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">95,157.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">98,854.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">112,424.0</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Includes "fixed wireless" and Voice over IP accesses.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">64</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#2b3447;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, Telef&#243;nica Brazil strengthened its leadership in the mobile value segment (38.9% market share as of December 31, 2022, source: ANATEL), both due to the organic growth of its customer base and the incorporation of Oi's accesses. In the fixed business, Telef&#243;nica Brazil continued to focus on the implementation of strategic technologies, such as fiber, which offset the decline in the fixed traditional business.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Accesses 2022 vs 2021</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil reached 112.4 million accesses as of December 31, 2022, 13.7% higher than December 31, 2021 due to the sustained growth in the organic mobile business, in addition to the incorporation of the customer base of Oi,  and the growth in FTTH, which more than offset the decline in the fixed voice business due to the continuous migration from fixed to mobile, encouraged by unlimited voice offers in the market, the contraction of the lower-value fixed broadband customer base and the loss of DTH customers as a result of the company&#8217;s strategic decision to discontinue legacy technologies.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">mobile business</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Telef&#243;nica Brazil strengthened its leadership in terms of total accesses, with an access market share of 38.9% as of December 31, 2022 (source: ANATEL) growing both in terms of contract customers (+18.2% year-on-year, +11.5% excluding Oi) and of prepaid customers (+14.6% year-on-year, -1.2% excluding Oi). Telef&#243;nica Brazil's strategy continues to be focused on strengthening the high-value customer base, reaching a 43.5% contract ex IoT market share as of December 31, 2022 (source: ANATEL). Contract commercial offers are focused on data plans, with extra data allowances subject to subscription to digital invoice, it is complete with OTT services of their choice (for example, Disney+, Netflix, Spotify, Vivo Medita&#231;&#227;o, Vivo Pay, Babbel, GoRead, among others). The Vivo Travel roaming service for voice and data is maintained in a selection of countries of America and Europe, depending on the plan. For higher-value customers, family plans are maintained, with a greater number of available apps. Additionally, Vivo Easy Prime was launched, with flexible proposals ranging from 7GB to 20GB and allowing customers to tailor their plans according to their needs. In the prepaid segment, Telef&#243;nica Brazil offers VIVO PreTurbo, which includes WhatsApp and unlimited minutes. All of this is supported by the interaction with our customers through the AURA virtual assistant in the Meu VIVO application, transforming the service channels to improve the user experience.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">broadband business</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Telef&#243;nica Brazil maintained its strategic focus on the deployment of fiber, reaching 28.6 million real estate units passed with FTTx access as of December 31, 2022, of which 23.3 million correspond to FTTH. Additionally, Telef&#243;nica Brazil continued to develop alternative deployment models to accelerate the expansion of fiber with lower CapEx and a reduced time to market. Telef&#243;nica Brazil reached 6.0 million connected homes of which 5.5 million homes connected with FTTH as of December 31, 2022, increasing 7.8% and 19.0% year-on-year, respectively. This growth offset the drop in other broadband accesses (xDSL), placing retail broadband accesses at 6.4 million as of December 31, 2022, increasing by 2.5% year-on-year. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Traditional </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">fixed telephony accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased by 6.6% year-on-year due to the aforementioned fixed-mobile substitution.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV customers </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">fell to 1.0 million as of December 31, 2022, decreasing 13.3% year-on-year due to the strategic decision to discontinue the DTH service, whose customer base decreased 65.7% year-on-year. </span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accesses 2021 vs 2020</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil reached 98.9 million </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">as of December 2021, 3.9% higher than December, 2020 due to the sustained growth in the mobile business, both postpaid and prepaid, FTTH and, to a lesser extent IPTV, which offset the decline in the fixed voice business due to the continuous migration from fixed to mobile, encouraged by unlimited voice offers in the market, the contraction of the lower-value fixed broadband customer base; and the loss of DTH customers as a result of the company&#8217;s strategic decision to discontinue legacy technologies.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> mobile business</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Telef&#243;nica Brazil maintained its leadership in terms of total accesses, with an access market share of 33.1% as of December 31, 2021 (source: ANATEL) growing both in terms of contract customers (+8.0% year-on-year) and prepaid customers (+1.9% year-on-year). Telef&#243;nica Brazil's strategy continued to focus on strengthening the high-value customer base, reaching a 36.9% contract ex IoT market share as of December 31, 2021 (source: ANATEL). Contract commercial offers were focused on Vivo SELFIE and had data plans, with extra data allowances subject to subscription to digital invoicing and a 10 GB portability bonus for one year. In addition, customers had access to the OTT services of their choice (for example, Disney+, Netflix, Spotify, Globopal, Amazon </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">65</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prime and Premiere, among others). The Vivo Travel roaming service for voice and data was maintained  in a selection of countries of America and Europe, and the rest of the world, depending on the plan. For higher-value customers, Family plans had a greater number of available apps and included one to four free extra members depending on the contracted plan. Additionally, they had Vivo Easy, with flexible plans ranging from 1GB to 100GB and allowing customers to tailor their plans according to their needs. In the prepaid segment, Telef&#243;nica Brazil offered VIVO PreTurbo, which included WhatsApp and unlimited minutes and allowed customers to share data with friends. All of this was supported by the interaction with our customers through the AURA virtual assistant in the Meu VIVO application, transforming the service channels to improve the user experience.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed telephony accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased 16.5% year-on-year due to fixed-mobile substitution.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">broadband business,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica Brazil maintained its strategic focus on the deployment of fiber, reaching 27.5 million real estate units passed with FTTx access as of December 31, 2021, of which 19.6 million correspond to FTTH. Additionally, it continued to develop alternative deployment models to accelerate the expansion of fiber with lower CapEx and a reduced time to market. Telef&#243;nica Brazil exceeded 5.5 million connected homes with FTTx, of which 4.6 million homes connected with FTTH as of December 31, 2021, increasing 8.9% and 36.4% year-on-year respectively. This growth offset in part the drop in other broadband accesses, such as ADSL, placing retail broadband accesses at 6.3 million as of December 31, 2021, decreasing by 0.8% year-on-year.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV customers</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 1.1 million as of December 31, 2021, decreasing 10.6% year-on-year due to a more selective commercial activity based on value acquisition and the strategic decision to discontinue the DTH service, whose customer base decreased 44.5% year-on-year. This base contraction was partially offset by the 2.9% growth in IPTV accesses. IPTV clients represented 82.2% of the total Pay TV accesses as of December 31, 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of Telef&#243;nica Brazil&#8217;s results over the past three years: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.037%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr style="height:18pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TELEF&#211;NICA BRAZIL</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr style="height:18pt"><td colspan="18" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,422&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,870&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 25.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mobile Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,891</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,106</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(5.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">32.4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;text-indent:45pt;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Handset revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">426&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">415&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">573&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 25.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fixed Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,531</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,300</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,764</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(9.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">325&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">474&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,252)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,216)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,783)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(792)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(799)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,097)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,515)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,231)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,674)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,188&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,138&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,732&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,965)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,918)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,369)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of intangible assets, depreciation of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,581)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,488)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,807)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(430)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(562)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,220</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,363</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(0.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,372&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,069&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,795&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(13.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA-CapEx</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,816&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,069&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,937&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(41.1&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">81.2&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Analysis of results 2022 vs 2021</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 8,870 million euros, growing by 28.4%, mainly due to the increase in service revenues driven by the appreciation of the Brazilian real, Vivo's existing customer base with respect to the rest of the segment's mobile business, the addition of the business acquired from Oi, as well as the results of businesses associated with new technologies (FTTH, IPTV and Digital Services), which offset the erosion of revenues associated with voice and traditional fixed accesses.</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">66</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.3pt">Mobile business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 6,106 million euros in 2022, increasing by 32.4% mainly because of the appreciation of the Brazilian real, higher commercial activity and the addition of accesses from Oi. </span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.3pt">Fixed business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 2,764 million euros in 2022, growing by 20.2% mainly related to the appreciation of the Brazilian real and higher FTTH and IT revenues. </span></div><div style="text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile ARPU </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">increased by 12.9% year-on-year on the back of the appreciation of the Brazilian real.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.306%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TELEF&#211;NICA BRAZIL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ARPU (EUR)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(12.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:29.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Data ARPU (EUR)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(15.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20.2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Excludes IoT.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (mainly external services and taxes) amounted to 5,554 million euros in 2022, increasing 30.8% year-on-year. This increase was mainly attributable to the impact of the appreciation of the Brazilian real, higher personnel expenses, expenses resulting from the higher handset sales (including sale commissions) due to higher commercial activity, as well as the addition of the business acquired from Oi.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,783 million euros in 2022, increasing 46.7% year-on-year compared to 2021. This increase was mainly attributable to higher commercial activity and the impact of the appreciation of the Brazilian real.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 1,097 million euros in 2022, increasing 37.3% year-on-year compared to 2021, affected by the appreciation of the Brazilian real, a higher-than-expected salary increase, due to inflation, and higher commercial activity in B2B. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,674 million euros in 2022, increasing 19.8% year-on-year compared to 2021, affected by the impact of the appreciation of the Brazilian real, partially offset by cost efficiencies due to digitalization.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA stood at 3,732 million euros in 2022, increasing 18.9% year-on-year.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,369 million euros in 2022, increasing 23.6% principally due to the appreciation of the Brazilian real, the acquisition of new 5G licenses in 2021 and the consolidation of the Oi assets.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,363 million euros in 2022, increasing 11.7%. This variation is due to the impact of the appreciation of the Brazilian real, greater commercial activity and the integration of Oi's accesses.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results 2021 vs 2020</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021, revenues totaled 6,910 million euros, down 6.9%, mainly due to the depreciation of the Brazilian real (impacting the evolution by -9.0 p.p.). The decrease was partially offset by the increase in service revenues driven</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">by the mobile business and by businesses associated with new technologies (FTTH, IPTV and Digital Services) and</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the sale of handsets, which offset the erosion of revenues associated with voice and traditional accesses.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Mobile business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 4,610 million euros in 2021, down 5.7% due mainly to the depreciation of the Brazilian real (impacting the evolution by -9.1 p.p.), offset in part by the increase in revenues from the mobile business and service revenues, driven by growth in the customer base, and the greater weight of </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">67</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">contract customers in the mix, whose consumption is oriented to the use of data and other services over connectivity. Handsets sales also increased despite the temporary closing of stores due to the COVID-19 pandemic, as a result of the higher sales in digital channels.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:13.8pt">Fixed business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> totaled 2,300 million euros in 2021, decreasing by 9.1% due mainly to the impact of the depreciation of the Brazilian real (impacting the evolution by -8.8 p.p.). This decrease was partially offset by the increase in broadband revenues, supported by the growth in fiber revenues, driven by the growth in the customer base. </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile ARPU </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">decreased by 12.3% year-on-year due mainly to the depreciation of the Brazilian real and the fact that postpaid customer base growth was mainly in entry level rates and due to the reduction in government aid that affected top ups. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#2b3447;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(mainly external services and taxes) </span><span style="color:#2b3447;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">mounted to 4,246 million euros in 2021, down 6.9% year-on-year. This decrease was mainly attributable to lower handset subsidies, lower sale commissions due to lower commercial activity and lower marketing costs. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,216 million euros in 2021, down 2.9% year-on-year compared to 2020. This decrease was mainly attributable to foreign exchange effects (-9.4 p.p.) and tax recoveries. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 799 million euros in 2021, up 0.9% year-on-year compared to 2020. This increase was mainly attributable to inflation, partially offset by foreign exchange effects (-9.7 p.p.).</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,231 million euros in 2021, down 11.3% year-on-year compared to 2020. This decrease was mainly attributable to foreign exchange effects (-8.6 p.p.), as well as lower commercial activity and advertising expenses. </span></div><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA was 3,138 million euros in 2021, decreasing 1.6%.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,918 million euros in 2021, decreasing 2.4% affected by the depreciation of the Brazilian real (-9.4 p.p.), offset in part by the higher investments. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,220 million euros in 2021, decreasing 0.2% affected by the provision for contingencies (154 million euros) and the depreciation of the Brazilian real (-8.9 p.p.), partially offset by the positive impact of the judicial decisions of the Brazilian Supreme Court recognizing the right to deduct the state tax on goods and services (ICMS) from the calculation of the basis of the Social Integration Program-PIS (Programa de Integra&#231;&#227;o Social) and the Financing of Social Security- COFINS (Contribui&#231;&#227;o para Financiamiento da Seguridade Social) (243 million euros) and the gain from the establishment of FiBrasil (90 million euros). </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">68</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TELEF&#211;NICA HISPAM</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of accesses of Telef&#243;nica Hispam over the past three years as of December 31 of such years: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.724%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.936%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ACCESSES</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Thousands of accesses</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%<br/>YoY 21/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%<br/>YoY 22/21</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed telephony accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,835.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,034.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,375.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Broadband</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,447.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,756.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,030.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">UBB</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,695.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,432.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,155.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 61.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">FTTH </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,417.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,259.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,053.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mobile accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">92,204.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94,612.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95,579.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">66,206.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">66,075.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,340.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,000.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,799.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,771.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IoT</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,997.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,737.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,467.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pay TV</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,856.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,905.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,899.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IPTV</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">577.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">913.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,384.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retail Accesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">108,488.6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">110,395.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">110,958.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">0.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Accesses</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">108,509.1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">110,414.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">110,970.7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">0.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Notes: </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Includes "fixed wireless" and Voice over IP accesses.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:1.12pt;vertical-align:baseline"> </span></div><div style="text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Accesses 2022 vs 2021 </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Hispam's </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 111.0 million as of December 31, 2022 (+0.5% year-on-year), as a result of the increase in mobile and FTTH accesses. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 95.6 million, increasing by 1.0% y-o-y mainly due to the higher postpay customer base.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Contract accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> increased by 4.1% year-on-year due to the increase in accesses in Mexico (+14.7%), Colombia (+8.4%) and Ecuador (+6.3%), partially offset by the decrease in Venezuela (-6.3%). This evolution was mainly driven by the commercial activity recovery and the attractive commercial offers.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Prepay accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased by 1.1% year-on-year, with a net loss of 735 thousand accesses as of December 31, 2022. The year-on-year accesses evolution was greatly impacted by the loss of accesses in Mexico (-921 thousand accesses) due to a higher number of disconnected non-active customers. In addition, accesses in Argentina decreased by 696 thousand. The year-on-year decrease was partially offset by an increase in accesses in Colombia (+1.3 million accesses), and to a lesser extent Ecuador (+155 thousand accesses).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 6.4 million as of December 31, 2022 (-9.4% year-on-year) with a net loss of 658 thousand accesses due to the continued erosion of the traditional fixed business.     </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed broadband accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 6.0 million as of December 31, 2022 (+4.8% year-on-year). The penetration of FBB accesses over fixed accesses stood at 94.6% (+12.7 p.p. y-o-y), as a result of the focus on Ultra Broadband (UBB) deployment in the region reaching 5.2 million connected accesses (+16.3% y-o-y) and 18.8 million premises. The penetration of UBB accesses over fixed broadband accesses stood at 85.5% (+8.5 p.p. y-o-y).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 2.9 million as of December 31, 2022, with a decrease of 0.2% y-o-y as a result of the net loss of 5.5 thousand customers, mainly as a result of the lower Direct-To-Home (DTH) technology accesses (-366 thousand accesses) due to the change in commercial strategy as well as the lower cable access base (-111.5 thousand accesses),  partially offset by the increase in IPTV accesses (+471.5 thousand accesses), in which the Company is placing strategic focus.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">69</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Accesses 2021 vs 2020</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Hispam's </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 110.4 million as of December 31, 2021 (+1.8% year-on-year), as a result of the increase in mobile and FFTH accesses.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile accesses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 94.6 million, increasing by 2.6% y-o-y mainly due to the higher post-pay customer base.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Contract accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> increased by 8.2% year-on-year due to the increase in accesses in Chile (+15.0%), Colombia (14.2%) and Peru (+13.7%), partially offset by the decrease in Venezuela (-8.9%). This strong evolution was mainly driven by the commercial activity recovery and the attractive commercial offers.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Prepay</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> decreased by 0.2% year-on-year, with a net loss of 131 thousand accesses at December 31, 2021. The year-on-year accesses evolution was greatly impacted by the loss of accesses in Mexico (-2.2 million accesses) as a result of the disconnection of accesses with no top-up activity and the 2G technology shutdown in Mexico, with no impact on revenues. In addition, accesses in Chile decreased by -355 thousand. The year-on-year decrease was partially offset by the increase in accesses in Colombia (+1.9 million accesses), Peru (+597 thousand accesses), Argentina (+533 thousand accesses) and Ecuador (+535 thousand accesses).</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 7.0 million as of December 31, 2021 (-10.2% year-on-year) with a net loss of 801 thousand accesses due to the continued erosion of the traditional fixed business; however, accesses mix improved (higher weight of high value accesses, mainly broadband).      </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed broadband accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 5.8 million as of December 31, 2021 (+5.7% year-on-year). The penetration of FBB accesses over fixed accesses stood at 81.8% (+12.3 p.p. y-o-y), as a result of the focus on UBB deployment in the region reaching 4.4 million connected accesses (+20% y-o-y) and 14.5 million premises. The penetration of UBB accesses over fixed broadband accesses stood at 77.0% (+9.2 p.p. y-o-y).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pay TV accesses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> stood at 2.9 million as of December 31, 2021, with an increase of +1.7% y-o-y as a result of the net adds of 48 thousand customers, mainly as a result of the increase in IPTV accesses (+336 thousand accesses), in which the Company is placing strategic focus, offset in part by the lower Direct-To-Home (DTH) technology accesses (-266 thousand accesses) due to the change in commercial strategy, and the lower cable access base (-21 thousand accesses).</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">70</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the evolution of Telef&#243;nica Hispam's results over the past three years: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.174%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.330%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TELEF&#211;NICA HISPAM</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 21/20</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% YoY 22/21</span></td></tr><tr style="height:15pt"><td colspan="18" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,362&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 25.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mobile Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5,070</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5,444</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,003</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10.3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 43.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Handset revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,111&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,541&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 25.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fixed Business</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,836</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,907</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">253&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">582&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">448&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">130.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(23.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,466)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,856)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(999)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,174)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,201)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,720)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,196)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,046)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(14.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">990&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,718&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,958&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">73.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.0&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,274)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,873)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,799)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(17.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of intangible assets, depreciation of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,826)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,451)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,345)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(20.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7.3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(448)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(422)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(454)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5.9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(1,284)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(155)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(87.9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">%)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">c.s.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">833&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">978&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,058&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8.1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">OIBDA-CapEx</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">157&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">740&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">370.7&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.6&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">c.s.: change of sign</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Analysis of results 2022 vs 2021</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> amounted to 9,141 million euros in 2022, increasing 9.3% year-on-year. This increase was attributable mainly to the foreign exchange effects (+4.7 p.p.) and revenue growth due to handset sales, B2C (Business to Customer) especially postpaid and B2B (Business to Business) service revenue evolution as well as higher fixed voice revenues, broadband and new services.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 6,003 million euros in 2022, increasing 10.3% year-on-year. This increase was due mainly to foreign exchange effects (+5.5 p.p.)  and revenue growth through handset sales as result of commercial activity recovery and higher postpaid revenues in B2C. The performance by country was as follows:</span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">In Argentina, mobile revenues amounted to 1,378 million euros in 2022, increasing 2.7% year-on-year. This growth was mainly due to higher service revenues due to the increase in accesses and continued tariff upgrades.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">In Chile, mobile revenues amounted to 969 million euros in 2022, decreasing 3.3% year-on-year due to the lower handset revenues and prepaid mobile revenues, partially offset by higher postpaid revenues.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">In Peru, mobile revenues amounted to 923 million euros in 2022, increasing 21.3% year-on-year, benefitting from the foreign exchange effects which increased growth by 14.7 percentage points and by higher service revenues, as result of the higher postpaid client base, and the price increase carried out in 2022. The higher revenues were to a lesser extent also impacted by handset revenues, as a result of the higher commercial activity.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">In Colombia, mobile revenues amounted to 891 million euros in 2022, increasing 11.8% year-on-year, due to the higher handset revenues, postpaid revenues and prepaid B2C revenues due to higher commercial activity and favorable churn evolution. The higher revenues were also impacted by higher interconnection and international roaming revenues.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">71</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">In Mexico, mobile revenues amounted to 1,172 million euros in 2022, increasing 16.1% year-on-year, due to higher service revenues as a result of the good performance of postpaid B2C and to a lesser extent due to higher handset revenues.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed business revenues </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 3,138 million euros in 2022, increasing 7.9% year-on-year. This growth was due to foreign exchange effects (+3.2 p.p.) and higher broadband, new services, access and voice revenues in Colombia, Chile and Peru that more than offset the decrease in TV revenues in Peru.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (mainly external services and taxes) amounted to 7,631 million euros in 2022, up 5.6% year-on-year. This increase was mainly attributable to foreign exchange effects, the reported variation of companies in hyperinflationary countries and higher network costs.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 3,384 million euros in 2022, up 18.5% year-on-year compared to 2021. This increase was mainly attributable to higher direct costs related to our network and to foreign exchange effects (+5.1 p.p.).</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 1,201 million euros in 2022, up 2.3% year-on-year compared to 2021. This increase was mainly attributable to the reported variation of companies in hyperinflationary countries (+3.6 p.p.) and foreign exchange effects (+2.7 p.p.), partially offset by the year-on-year decrease in restructuring costs in the region (-6.4 p.p.) and operational efficiencies.  </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 3,046 million euros in 2022, down 4.7% year-on-year compared to 2021. This decrease was mainly attributable to higher goodwill impairment in Peru in 2021 compared to the asset impairment in Argentina in 2022 (-9.9 p.p.) and efficiency projects.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA reached 1,958 million euros in 2022, increasing 14.0% year-on-year. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 1,799 million euros in 2022, decreasing 3.9% year-on-year. The decrease was mainly attributable to the lower depreciation and amortization base resulting from the transformation of the operational model in Telef&#243;nica Mexico (-3.5 p.p.) and, to a lesser extent, the lower depreciation and amortization base in Telef&#243;nica Chile.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating Income (OI) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was 159 million euros in 2022 (compared to a loss of 155 million euros in 2021). This result is mainly explained by the lower depreciation and amortization base in Telefonica Mexico due to the transformation of the operational model, the recording of goodwill impairment in 2021 (relating to Telef&#243;nica del Per&#250;) in a greater amount than the other assets impairment recorded in 2022 (relating to Telef&#243;nica Argentina), the higher restructuring costs in the region in 2021 than in 2022 and the reported variation of companies in hyperinflationary countries, partially offset by higher capital gains on sales of fiber optic assets in 2021 than in 2022. </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Below is additional information by country: </span></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:32.5pt">In Argentina, operating loss was 270 million euros in 2022 (operating loss of 116 million euros in 2021). The y-o-y evolution was impacted by the other assets impairment and the higher depreciation and amortization recorded in 2022, which more than offset the higher revenues.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">In Chile, operating income was 179 million euros in 2022, decreasing 69.4% year-on-year from 583 million of operating income in 2021. The year-on-year evolution was mainly due to the capital gain on sales of fiber optic assets in 2021, despite the positive impact of the capital gain on the sale of the data center in 2022, higher revenues and lower amortizations.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In Peru, operating income was 60 million euros in 2022 (compared to an operating loss of 56 million euros in 2021). This performance is mainly due to higher revenues and expenses efficiencies, offset in part by the increase in depreciation and amortization.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In Colombia, operating income reached 261 million euros in 2022 (compared to 99 million euros in 2021), as a result of a revenues increase, non-commercial cost efficiencies and lower depreciation and amortization.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In Mexico, operating loss was 176 million euros in 2022 (compared to an operating loss of 339 million euros in 2021). The better performance was due in part to the lower depreciation and amortization base resulting from the transformation of the operational model in Mexico.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">72</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Analysis of results 2021 vs 2020</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 8,362 million euros in 2021, increasing 5.5% year-on-year. This increase was attributable in part to the reported variation of companies in hyperinflationary countries (+4.2 p.p.) and revenues growth through handset sales, B2C and B2B service revenues evolution, and broadband, new services and TV fixed revenues improvement, offset in part by the foreign exchange effects (-3.9 p.p.).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile business revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 5,444 million euros in 2021, increasing 7.4% year-on-year. This increase was due in part to the reported variation of companies in hyperinflationary countries (5.2 p.p.) and revenues growth through handset sales as a result of commercial activity recovery and higher postpaid and prepaid revenues in B2C, offset in part by the foreign exchange effects (-3.2 p.p.). The performance by country was as follows:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In Argentina, mobile revenues amounted to 1,342 million euros in 2021, increasing 23.4% year-on-year. This growth was mainly due to higher service revenues resulting from continued tariff upgrade in line with inflation. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">In Chile, mobile revenues amounted to 1,002 million in 2021, increasing 8.1% year-on-year, due to higher handset revenues and mobile service and mobile broadband revenues growth recovery, offset in part by the depreciation of the Chilean peso.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">In Peru, mobile revenues amounted to 761 million euros in 2021, decreasing 0.4% year-on-year, mainly driven by revenues recovery through handset sales, as a result of the higher commercial activity, and higher service revenues leveraged on a higher average revenue per client and a favorable disconnections evolution, offset to a great extent by the depreciation of the Peruvian nuevo sol.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">In Colombia, mobile revenues amounted to 797 million euros in 2021, increasing 4.3% year-on-year, driven by higher handset revenues, postpaid B2C revenues due to higher commercial activity and a favorable churn evolution, higher prepaid B2C revenues and interconnection mobile revenues, offset in part by the depreciation of the Colombian peso.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In Mexico, mobile revenues amounted to 1,010 million euros in 2021, decreasing 2.2% year-on-year, due to the lower interconnection tariffs, which adversely affected the wholesale business, the decrease in international traffic, and lower prepaid and B2B commercial activity, partially offset by the positive postpaid revenues evolution and the appreciation of the Mexican peso.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed business revenues </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 2,907 million euros in 2021, increasing 2.5% year-on-year. This increase was due in part to the reported variation of companies in hyperinflationary countries (specifically, Argentina), which increased growth by 2.3 percentage points, higher broadband and new services as well as TV revenues in Colombia, Chile and Peru which offset the decline in accesses and voice revenues and the adverse impact of foreign exchange effects.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">total amount of supplies, personnel expenses and other expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(mainly external services and taxes) amounted to 7,226 million euros in 2021, up 0.6% year-on-year. This increase was mainly attributable to higher direct costs associated with our network and the reported variation of companies in hyperinflationary countries, partially offset by foreign exchange effects.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Supplies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 2,856 million euros in 2021, up 15.8% year-on-year compared to 2020. This increase was mainly attributable to higher direct costs related to our network and the reported variation of companies in hyperinflationary countries (+4.7 p.p.), partially offset by foreign exchange effects (-4.0 p.p.). </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Personnel expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 1,174 million euros in 2021, up 17.6% year-on-year compared to 2020. This increase was mainly attributable to restructuring costs in the region (+16.2 p.p.). </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Other expenses </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amounted to 3,196 million euros in 2021, down 14.1% year-on-year compared to 2020. This decrease was mainly attributable to the decrease in goodwill impairment between 2020 and 2021 (-13.5 p.p.).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA reached 1,718 million euros in 2021, increasing 73.5% year-on-year.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">73</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> amounted to 1,873 million euros in 2021, decreasing 17.6% year-on-year. The decrease was mainly attributable to the lesser impact in 2021 than in 2020 of the accelerated amortization and depreciation resulting from the transformation of the operational model in the operator (-10.2 p.p.) and, to a lesser extent, the foreign exchange effects (-2.7 p.p.).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating loss</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> was 155 million euros in 2021 (compared to a loss of 1,284 million euros in 2020). The decrease in the operating loss was the result, in part, of the impairment losses recorded in Telef&#243;nica Argentina in 2020 (which exceeded the amount of the impairment in Telef&#243;nica Peru in 2021), the capital gain on the sale of 60% of the shares in InfraCo, SpA in 2021, and the lesser impact of the accelerated amortization in Telef&#243;nica M&#233;xico in 2021 (compared to 2020) resulting from the transformation of the operational model in the operator, partially offset by the higher restructuring costs in the region in 2021.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Below is additional information by country:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">In Argentina, operating loss was 116 million euros in 2021 (operating income of 4 million euros in 2020). The y-o-y evolution in the operating loss was impacted by higher costs, offset in part by the decrease in depreciation and amortization.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">In Chile, operating income was 583 million euros in 2021 (141 million euros in 2020), and was positively impacted by the capital gains on the sale of 60% of the shares in InfraCo, SpA, higher fixed and mobile revenues, expenses efficiencies and the lower depreciation and amortization expense.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">In Peru, operating loss was 56 million euros in 2021 (operating loss of 84 million euros in 2020). The y-o-y reduction in the operating loss was attributable in part to the lower depreciation and amortization expense, offset in part by the increase in other expenses, mainly restructuring expenses.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">In Colombia, operating income reached 99 million euros in 2021 (113 million euros in 2020), as a result mainly of the foreign exchange effects (which reduced growth by 4.7 percentage points), higher operating expenses and higher depreciation and amortization expenses, offset in part by the increase in B2B revenues, mobile handsets mark-up subsidies and non-commercial cost efficiencies.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.8pt">In Mexico, operating loss was 339 million euros in 2021 (operating loss of 606 million euros in 2020). The y-o-y reduction in the operating loss was positively impacted by the y-o-y decrease in the depreciation and amortization expense resulting from the accelerated amortization and depreciation related to the transformation of the operational model in the operator.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_73"></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Our services and products </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">New digital technologies are the main driving force of social and economic transformation today. This premise is the basis upon which we build our vision: we want to provide access to digital life, using the best technology and without leaving anyone behind.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Connectivity is our ally in reducing the digital divide and, due to our fixed and mobile network infrastructure and the services we develop around it, we can aid progress in the communities in which we operate.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To move towards this vision, at Telef&#243;nica we work on three basic fronts:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1) Providing access to technology through digital inclusion, in other words, by means of network roll-out and an accessible and affordable offer for all sectors of the population.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2) Developing innovative services that add value to our connectivity and which we develop through innovation: Big Data, the Internet of Things (IoT), eHealth, digital education and eFinances.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3) Incorporating sustainability principles across all of our product development processes.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">74</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile business</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica offers a wide variety of mobile and related services and products to personal and business customers.  Although they vary from country to country, Telef&#243;nica&#8217;s principal services and products are as follows:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Mobile voice services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">One of the main Telef&#243;nica&#8217;s services in all of its markets is mobile voice telephony.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Value added services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customers in most of the markets have access to a range of enhanced mobile calling features, including voice mail, call on hold, call waiting, call forwarding and three-way calling.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Mobile data and Internet services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current data services offered include Short Messaging Services, or SMS, and Multimedia Messaging Services, or MMS, which allow customers to send messages with images, photographs, sound recordings and video recordings.  Customers may also receive selected information, such as news, sports scores and stock quotes. Telef&#243;nica also provides mobile broadband connectivity and Internet access. Through mobile Internet access, customers are able to send and receive e-mail, browse the Internet and access real-time available entertainment services (such as video and audio streaming), download games, purchase goods and services in m-commerce transactions and use Telef&#243;nica&#8217;s other data and software services.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Wholesale services:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica has signed network usage agreements with several MVNOs in different countries.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Corporate services:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica provides business solutions, including mobile infrastructure in offices, private networking and portals for corporate customers that provide flexible online billing.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Roaming:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Roaming agreements allow Telef&#243;nica customers to use their mobile handsets when they are outside their service territories, including on an international basis.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Fixed wireless:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica provides fixed voice telephony services through mobile networks in Brazil, Venezuela, Argentina, Peru, Mexico and Ecuador. Until January 24, 2019 and May 16, 2019, Telef&#243;nica also provided these services in Guatemala and Nicaragua, respectively. Until January 13, 2022, Telef&#243;nica also provided these services in El Salvador.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Trunking and paging:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica provides digital mobile services for closed user groups of clients and paging services in Spain and most of the regions in which it operates in Latin America.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:-2.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed-line telephony business</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The principal services Telef&#243;nica offers in its fixed businesses in Europe and Latin America are:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Traditional fixed telecommunication services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s traditional fixed telecommunication services include PSTN lines; ISDN accesses; public telephone services; local, domestic and international long-distance and fixed-to-mobile communications services; corporate communications services; supplementary value added services (including call waiting, call forwarding, voice and text messaging, advanced voicemail services and conference-call facilities); video telephony; business oriented value-added services; intelligent network services; leasing and sale of handset equipment; and telephony information services.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Internet and broadband multimedia services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the principal Internet and broadband multimedia services include Internet provider service; portal and network services; retail and wholesale broadband access through ADSL, narrowband switched access and other technologies. Telef&#243;nica also offers high-speed Internet services through fiber to the home (FTTH) in certain markets (primarily Spain, Brazil, Chile and -through VMO2- the United Kingdom) and VDSL-based services (primarily Spain and Germany). Telef&#243;nica also offers VoIP services in some markets.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Data and business-solutions services:  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the data and business-solutions services principally include leased lines; virtual private network, or VPN, services; fiber optics services; the provision of hosting and application, including web hosting, managed hosting, content delivery and application, and security services; outsourcing and consultancy services, including network management, or CGP; and desktop services and system integration and professional services.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">75</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Wholesale services for telecommunication operators: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the wholesale services for telecommunication operators principally include domestic interconnection services; international wholesale services; leased lines for other operators; and local loop leasing under the unbundled local loop regulation framework.  It also includes bit stream services, wholesale line rental accesses and leased ducts for other operators' fiber deployment and other agreements to provide wholesale access to our fixed infrastructure.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Digital services</span></div><div style="margin-bottom:10pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main digital services offered by Telef&#243;nica are:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Video/TV services:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Interactive TV services in High Definition (HD) or Ultra High Definition (UHD), using several technologies (IPTV, DTH, CATV and OTT) on various types of networks (Fiber, Satellite, Cable or Mobile Networks). These services can be provided through a variety of devices (TV with STBs, SmartTVs, PCs, Smartphones, Tablets, etc.), allowing also the Multiroom function (customers can watch different TV channels in different rooms or different devices simultaneously). The service allows the access to lineal TV content with advanced functions such as "Restart TV" (which allows a viewer to watch any content from the beginning), "Last 7 days" (recordings of content for the last seven days), "cPvR" (recordings using cloud computing) and "Down to Play" (downloading the content on the device). Customers also have access to the content on demand catalogue (Video on Demand or VoD), in "Subscription Video on Demand" (SVoD) or "Pay per View" options, as well as access to content of third parties, such as Netflix, Amazon, YouTube and HBO, among others. In addition, Telef&#243;nica offers accessible content in Spain with subtitles, audio description and sign language functionalities through the Movistar+ 5s service, which aims to contribute toward the inclusion of disabled people across the country.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">IoT (Internet of Things):</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica&#8217;s Global IoT portfolio includes:</span></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Smart Connectivity:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> connectivity services for machines, mainly handled through the Kite platform.</span></div><div style="margin-top:9pt;padding-left:67.5pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Smart Services:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> end-to-end solutions that include "device + connectivity + application". These business-to-business solutions are mainly aimed at (i) the mobility management of vehicles, assets and/or people, (ii) the support of the retail and industrial sectors and (iii) the efficient management of energy and water consumption.</span></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.46pt">Consumer IoT:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> products focused on the B2C segment, including end-to-end services around the person (e.g., connected cars, trackers). </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Financial services and other payment services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These services provide customers with access to consumer credit and payment cards.</span></div><div style="padding-left:36pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Security services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Digital acceleration is a process that creates multiple opportunities but also increases challenges for the security ecosystem of the business. Therefore, in a world where cyber threats are inevitable, as managed security services providers, we focus on prevention, detection, and appropriate response to reduce attacks, protect digital services, and thus promote the cyber security resilience of our clients' business. All this is supported by a team of multidisciplinary security professionals and a portfolio that includes the following services: Network security, Managed Security, Data protection, Cloud security, IoT/OT Security, Identity and Access Management and Professional Services.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Cloud services: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica offers a wide range of Cloud solutions, mostly through Telefonica Tech, designed according to the needs of each client accelerating their journey to the cloud. The value proposition includes: (i) Secure Cloud Connectivity: services that increase the performance and security of the business connectivity (SD-WAN, SD-BRANCH, SDLAN - Cloud Wifi, SASE); (ii) Hybrid Cloud: improves IT workloads, data and, applications management (from on-premises data centres to VDC, public cloud or hybrid solutions); (iii) Future of Workplace: secure digitization of the workforce (Productivity, Unified Comms, Business Apps, Virtualization, Terminal Management); and (iv) Consultancy, Professional Services and Managed Services.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Advertising:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> A portfolio of marketing channels that third-party brands can use to acquire and engage with customers. Traditional channels such as SMS/MMS messaging may be used alongside with new channels like programmatic display and sponsored connectivity. All of which leverage on the Group's </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">76</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">customer data in order to send messages to the correct target as well as to generate post-campaign brand analysis. </span></div><div style="margin-top:9pt;padding-left:33.75pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Big Data:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Includes products and services designed to enable companies and governments to make AI-powered data-driven decisions. The Group's Big Data offer comprises of three main categories: (i) "business insights", which provides information for decision-making based on analysis from advanced analytical products developed on top of data generated in the Group's network and systems; (ii) "consulting and analytics", which includes specialist professional services focused on data strategy, data science, data architecture and data engineering; and (iii) "tools and infrastructure", which provides advanced technology for data management, storage and exploitation.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:11.55pt">Customer Experience:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Refers to the omnichannel digital experience (including the Novum app but also other digital channels) and its development, guiding the Telef&#243;nica customer through his or her life cycle, adapting the digital experience to every moment's necessity using personalization capabilities.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Aura:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> is an artificial-intelligence ("AI") ecosystem designed to improve communication between the Telef&#243;nica Group and its customers. Its aim is to address customer needs and provide them with relevant information related to the company, potentially in any area where Telefonica offers services such as answering questions about telecommunications services, offering financial service proposals, or making recommendations about television or connection offerings. To foster a relationship with customers, Aura will offer the creation of conversational bots using its own infrastructure, with a private and transparent data approach by design. Additionally, to generate useful information, Aura will provide its own AI model execution platform with the goal of enhancing the information provided to customers.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Movistar Home ("MH"):</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Telef&#243;nica launched Movistar Home in Spain on October 18, 2018, a new device designed around the functionality of Aura and targeted at the Group's Movistar and Pay TV customers. Movistar Home is designed to strengthen Telef&#243;nica's position by enabling highly-converged services and experiences that differentiate the Group from its competitors. Movistar Home aims to provide the Group's customers with an enhanced TV experience on IPTV, increased landline functionality (which enables videoconferences), the Group's smart home package and games in addition to third-party services.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Living Apps</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: A platform that allows Telef&#243;nica's business units and partners to create relevant home experiences for our users, beyond the consumption of TV content, adding value to core businesses (and growth to Telef&#243;nica, opening new business opportunities.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Smart Wifi:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> A customer application to manage home connectivity and enhance the value proposition by offering new services like Conexion Segura, intended to protect customers against a broad range of cyber threats.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">NT: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A micro-rewards program in Spain to reward customers with Tokens for their digital behavior. Tokens are awarded when customers make use of our digital channels, products and services and can be exchanged for a given catalogue of company products.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Solar 360: </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2022 Repsol and Telef&#243;nica Spain created a joint venture to develop the solar self-consumption business. The new company started to operate in June 2022 launching Solar360, offering a comprehensive self-consumption solution to private customers, communities of neighbors and companies, SMEs, and large companies, through solar panel installation. The offer will be customized for each type of customer according to their level and habits of consumption, seeking to maximize savings on their current electricity bill. It will include a mobile application for the control of the installation and the continuous optimization of energy expenditure, personalized financing for each type of consumer and other value-added services linked to the solar panel installation.</span></div><div style="margin-top:9pt;padding-left:33.75pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:12.25pt">Phoenix:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> A digital sales platform that allows customers to receive a personalized offer to renew their device and process the purchase in a simple and fully digital checkout. When customers are eligible to renew their device or expand their devices ecosystem with Telefonica, a customized offer is sent via the usual communication channels (SMS, MMS, emailing, Novum/Digital experience app). Once the customer chooses among the selected proposed portfolio a number of payment and logistics options can be chosen to complete a convenient &#8220;few-clicks&#8221; device renewal. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:-13.5pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:33.75pt;text-align:justify;text-indent:-31.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sales and Marketing  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our sales and marketing strategy is aimed toward reinforcing our market position, generating brand awareness, promoting customer growth and achieving customer satisfaction. We use a variety of marketing initiatives and programs, including those that focus on customer value, with in-depth market segmentation; programs to promote customer loyalty; pricing initiatives aimed toward stimulating usage, including segmented packages and innovative tariff options; and initiatives that are responsive to the latest market trends, including those aimed toward boosting demand for our mobile Internet and mobile broadband offerings. In connection with these and our other sales and marketing initiatives, we market our products through a broad range of channels, including television, radio, billboards, telemarketing, direct mail and Internet advertising. We also sponsor a variety of local cultural and sporting events in order to enhance our brand recognition.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Competition </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The telecommunications industry is competitive, and consumers generally have a choice of mobile and fixed line operators from which to select services. We are a global telecommunications services provider and face significant competition in most of the markets in which we operate. In Europe, our largest competitor is Vodafone and in Latin America, our largest competitor is Am&#233;rica M&#243;vil. Newer competitors, including handset manufacturers, MVNOs, Internet companies and software providers, are also entering the market and offering integrated communications services. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We compete in our markets on the basis of the price; the quality and range of features of our services; the added value we offer with our service; additional services associated with those main services; the reliability of our network infrastructure and its technological attributes; and the desirability of our offerings, including bundled offerings of one type of service with another and, in the case of the mobile industry,  in some markets offers that include subsidized handsets and handsets sold on installment plans.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To compete effectively with our competitors, we need to successfully market our products and services and to anticipate and respond to various competitive factors affecting the relevant markets, such as the introduction of new products and services, different pricing strategies and changes in consumer preferences. </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Regulation</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Appendix VI to our Consolidated Financial Statements. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses and Concessions </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Appendix VI to our Consolidated Financial Statements. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Seasonality </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our business is not significantly affected by seasonal trends. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Patents </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our business is not materially dependent upon the ownership of patents, commercial or financial contracts or new manufacturing processes. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Security Strategy and Framework </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The digital ecosystem has facilitated the access of companies and users to a large amount of information, multiplying the ease and speed at which this information can be transmitted between different networks, companies, and countries. This volume of data implies an important advancement opportunity for society, but also a significant responsibility for companies that, like Telef&#243;nica, manage considerable amounts of personal, anonymous, or aggregate information. In addition to threats to the integrity and privacy of data, Telef&#243;nica may face network interruptions which could affect the quality of, or cause interruption to, the provision of its services. See &#8220;Item 3. Key Information&#8212;Risk Factors&#8212;Risks Related to Telef&#243;nica&#8217;s Business Activities&#8212;&#8212;The Telef&#243;nica Group's strategy, which is focused on driving new digital businesses and providing data-based services, involves exposure to risks and uncertainties arising from data privacy regulation&#8221;, &#8220;&#8212;Operating Risks&#8212;Information technology is key to the Group's business and is subject to cybersecurity risks" and &#8220;&#8212;Operating Risks&#8212;Climate change, natural disasters </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">78</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and other factors beyond the Group's control may result in physical damage to our technical infrastructure that may cause unanticipated network or service interruptions or quality loss or otherwise affect the Group&#8217;s business&#8221;.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To address these risks, the Group has adopted various lines of action which are led by its Security and Intelligence area. The head of Security and Intelligence is the Global Director of Security and Intelligence who has been delegated the authority and responsibility by the Company&#8217;s Board of Directors to establish the global strategy for this area. He leads the development and monitors the implementation of the policy framework and global initiatives in the area of Security, and reports to the Board of Directors through the Audit and Control Committee and the Sustainability and Quality Committee. The director will propose those to be appointed as local Security Officers for each Telef&#243;nica Group company, who shall be submitted to the decision of the corresponding administrative or management bodies of the companies. For purposes of government and coordination, we have a Global Security Committee presided by the Global Director of Security and Intelligence, in which the heads of our business areas (including Compliance, Auditing, Legal, Technology and Operations and Human Resources) and the Security Officers of each country participate, in addition to local Security Subcommittees, that collaborate in the definition of global strategic initiatives and guidelines and implement them in each country. In addition, Telef&#243;nica has a Security Advisory Board made up of external experts in the field of security and intelligence, with the aim of contributing with best practices and improving efficiencies of capabilities and procedures and raising the quality of our strategy in these matters. Finally, we have a Digital Security Committee, in which several members of the Executive Committee of the Company participate, that establishes our risk posture in respect of the main threats we face and monitors the key strategic and operational aspects of digital security.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have two main lines of action:</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt;text-decoration:underline">Operational security, business continuity and supply chain security</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: Some of the initiatives adopted are the following:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:9.3pt">Business continuity</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: Our business continuity groups maintain and update standardized continuity plans, using digital tools to improve disaster recovery in order to provide a global vision of the risks we face and the management thereof.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Crisis management</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: Because of the COVID-19 pandemic, the crisis management protocol was strengthened. The global crisis management plan is implemented in all the Business Units of the Telef&#243;nica Group, with a common management model, a standard architecture, digitalized crisis alert processes and training for critical employees. The Business Continuity offices have continued reviewing crisis management procedures and identifying the most relevant processes, to ensure that they are robust enough to guarantee the resilience of the Company.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Supply chain security</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: The integral security of products and services is necessarily supported by the strengthening of security controls in the complete cycle of the supply chain, specifically in the security of Telef&#243;nica Group suppliers. For this purpose, we have homogenized security controls in place at all different stages of the procurement process of products, equipment, and services, working in an integrated manner among the areas of security, financial control, procurement, technology and operations to ensure that suppliers and partners comply with the security controls required by Telef&#243;nica&#8217;s own regulations, any other regulatory requirements and best practices in the industry.</span></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt;text-decoration:underline">Digital security</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: Our initiatives in digital security are aimed at maintaining the confidentiality, integrity and availability of the services and data of the Group. We both proactively analyze vulnerabilities and manage security incidents. Some of the initiatives adopted are the following:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Network security</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: The role of Telef&#243;nica as a telecommunications operator makes it essential to strengthen the security controls of fixed and mobile communications networks and infrastructures, as well as the associated service platforms (e.g. video, IoT). In this sense, the aforementioned security processes are applied in a holistic manner to manage the risks associated with attacks and the exploitation of vulnerabilities in networks and protocols within the Group, with our main technological partners and with international organizations (e.g. GSMA), to limit any potential impacts. Examples of our network security initiatives include initiatives on 5G, 4G/LTE, SS7, BGP and other critical enabling technologies.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10pt">Cybersecurity, vulnerability management and security breaches</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: We are proactive with regards to cybersecurity, vulnerability management and security breaches. We have a network of Incident Response Centers (CSIRT) at a global level, that works in a coordinated way to identify and analyze the risks of </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">79</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">potential cyberthreats, monitor serious vulnerabilities in our most critical technological assets, establish relationships with other national and international CSIRTs / Computer Emergency Response Teams (CERTs) from both the public and private sectors, detect potential security incidents that may affect the technological assets of the Group and respond to and manage any security incidents that may affect the Group. We have public mailboxes, both globally and locally, available to any user and designed for the reporting of any vulnerability or threat that could affect Telef&#243;nica&#8217;s technological infrastructure. We also operate a vulnerability detection (bug-bounty) program with select leading companies within the industry.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the impact or consequences of an incident or vulnerability threaten the continuity of one or several critical processes or services or the reputation of the Group the corresponding Business Continuity Plan is activated. The Global Crisis Management System aims to ensure our preparedness to manage such incidents or vulnerabilities by facilitating the coordination, communication, and collaboration of all the areas involved to help ensure operational normality is restored in the shortest possible time and with the least possible impact.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022, all identified security incidents were managed pursuant to our existing protocols for responding to incidents, and with the appropriate communication to regulatory bodies in cases where personal data was involved. None of these incidents were considered to be material by the Group.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lessons learned from incidents constitute a fundamental part of a feedback process designed to facilitate security improvement projects, with regards to processes, capabilities, and technological platforms.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Security measures related to remote access and teleworking were strengthened during the previous years due to the situation caused by COVID-19 pandemic.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Awareness in the security area is of great relevance for the Telef&#243;nica Group. We have in place a global digital security course, phishing simulation campaigns and security awareness surveys, and specific training programs continued to be imparted to special focus groups and managers.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, we maintain, both locally and globally, various insurance programs to mitigate the impact of a potential incident. Specifically, we have coverage for cybersecurity risks that cause loss of income, loss of customers, extra costs or digital asset recovery expenses, and coverage for errors and technological omissions in the case of potential claims against us for damages caused to customers and third parties. These insurance policies are subject to certain loss limits, deductions and exclusions and we can provide no assurance that all losses related to a cybersecurity incident will be covered under our policies.</span></div><div style="margin-bottom:12pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Disclosure Pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 added Section 13(r) to the Exchange Act. Section 13(r) requires an issuer to disclose in its annual or quarterly reports filed with the SEC whether the issuer or any of its affiliates has knowingly engaged in certain activities, transactions or dealings with the Government of Iran, relating to Iran or with designated natural persons or entities involved in terrorism or the proliferation of weapons of mass destruction during the period covered by the annual or quarterly report. Disclosure is required even when the activities were conducted outside the United States by non-U.S. entities and even when such activities were conducted in compliance with applicable law.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following information is disclosed pursuant to Section 13(r). None of these activities involved U.S. affiliates of Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Some of our subsidiaries have entered into roaming agreements with Iranian telecommunication companies. Pursuant to such roaming agreements our subsidiaries&#8217; customers are able to roam in the particular Iranian network (outbound roaming) and customers of such Iranian operators are able to roam in our relevant subsidiary&#8217;s network (inbound roaming). For outbound roaming, our subsidiaries pay the relevant Iranian operator roaming fees for use of its network by our customers, and for inbound roaming the Iranian operator pays the relevant subsidiary roaming fees for use of the respective network by its customers.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our subsidiaries and our former subsidiary Telef&#243;nica UK Ltd. were party to the following roaming agreements with Iranian telecommunication companies in 2022:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">Telef&#243;nica M&#243;viles Espa&#241;a S.A. (&#8220;TME&#8221;), our Spanish directly wholly-owned subsidiary, has respective roaming agreements with (i) Mobile Telecommunication Company of Iran (&#8220;MTCI&#8221;), (ii) Taliya (&#8220;Taliya&#8221;) and </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">80</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii) Telecommunication Kish Co (&#8220;TKC&#8221;). During 2022 TME recorded the following revenues related to these roaming agreements: (i) 56,994 euros from MTCI, (ii) no revenues from Taliya and (iii) no revenues from TKC.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">Telef&#243;nica Germany GmbH &amp; Co. OHG (&#8220;TG&#8221;), our German 70.5% indirectly-owned subsidiary, has respective roaming agreements with (i) MTCI and (ii) Irancell. During 2022 TG recorded the following revenues related to these roaming agreements: (i) no revenues from MTCI and (ii)  5,685 euros from Irancell.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">Telef&#243;nica UK Ltd (&#8220;TUK&#8221;), our former English directly wholly-owned subsidiary, has a roaming agreement with Taliya. TUK ceased to be our subsidiary upon the establishment of VMO2 on June 1, 2021, to which it was contributed. During 2022 TUK recorded no revenues from Taliya.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">Telef&#243;nica Brasil S.A. (&#8220;Telef&#243;nica Brasil&#8221;), our Brazilian 74.2% indirectly-owned subsidiary, has a roaming agreement with Irancell. During 2022, Telef&#243;nica Brasil recorded 559,37 U.S. dollars in roaming revenues from Irancell under this agreement.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">Pegaso PCS S.A. de C.V. (&#8220;PCS&#8221;), our Mexican directly wholly-owned subsidiary, has a roaming agreement with Irancell. During 2022 PCS recorded 185,30 euros in roaming revenues from Irancell under this agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The net profit recorded by our subsidiaries and TUK pursuant to these agreements and arrangements did not exceed the related revenues recorded thereunder.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The purpose of all of these agreements is to provide our customers with coverage in areas where we do not own networks. For this purpose, we intend to continue maintaining those agreements which are still outstanding.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group does not currently have any forthcoming plans to enter into new roaming arrangements with Iranian telecommunication companies. However, the Group may consider entering into such arrangements in the future.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, during 2022, Telef&#243;nica Germany GmbH &amp; Co. OHG (&#8220;TG&#8221;), our German 70.58% indirectly-owned subsidiary, had retail mobile phone and internet contracts with two customers in Germany identified in the lists administered by OFAC as sanctioned pursuant to Executive Order 13224 and Executive Order 13382. During 2022, TG recorded the following revenues related to those two agreements: 300 euros under each of them. Both agreements are in the process of being terminated before May 2023. The provision of the relevant services by TG was in compliance with applicable laws.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">81</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_76"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Organizational Structure</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See &#8220;&#8212;History and Development of the Company&#8221; and &#8220;&#8212;Business Overview&#8221;.</span></div><div id="i2ad619f032b2435680b3f6486d100018_79"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">D. Property, Plant and Equipment</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our central headquarters for the Telef&#243;nica Group are located in &#8220;Distrito Telef&#243;nica,&#8221; in Madrid, Spain.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s operations and assets (including its towers and submarine cables) are located in many areas that are subject to natural disasters and severe weather, and which may be adversely affected in the future by climate change.    </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 8 to the Consolidated Financial Statements for information on the year-on-year decrease in &#8220;Property, plant and equipment&#8221; from 22,725 million euros as of December 31, 2021 to 23,714 million euros as of December 31, 2022.</span></div><div style="margin-top:9pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed Networks</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We own fixed networks in Spain, Latin America and Europe, having an incumbent role in Spain, Argentina (the greater Buenos Aires metropolitan area and the southern portion of the country), Brazil (S&#227;o Paulo), Chile, Peru and Colombia.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following market trends, competitive environments, evolution of technologies and new multimedia and broadband services demanded by our customers, we have upgraded our networks in recent years through the following:</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">progressive introduction of broadband access technologies over copper: ADSL, ADSL2+, VDSL2, etc., increasing the bandwidth capacity provided to our broadband clients several times in the last fifteen years;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">introduction of fiber access technologies (xPON) across different deployment scenarios: fiber to the home (FTTH), fiber to the building (FTTB), fiber to the curb (FTTC), fiber to the node (FTTN), etc., increasing the customer access speed up to 1 Gbps;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">service support based on powerful Internet Protocol/ Multiprotocol Label Switching (IP/MPLS) backbones, providing full connectivity to the rest of the network layers, such as access and control, to support services for business and customer market segments (fixed and mobile);</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">migration of the legacy time division multiplexing (TDM) switching networks (PSTN and ISDN) to new generation network (NGN) over all-IP packet networks;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">migration from legacy transport technologies, such as asynchronous transfer mode (ATM), frame relay (FR), low-rate leased lines, plesiochronous digital hierarchy (PDH) and synchronous digital hierarchy (SDH), to the new generation of optical transport ones, such as dense wavelength division multiplexing (DWDM), coarse wavelength division multiplexing (CWDM) and new generation-synchronous digital hierarchy (NG-SDH);</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">introduction of IMS (Internet Multimedia Subsystem) to simplify the control of the network and ease the deployment of new services over the all-IP converged network;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">empowerment of the intelligence of the network to better manage its use, to avoid saturations and frauds and to identify new business opportunities;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">convergence of fixed and mobile networks, services and support systems from both technological and operational points of view; and</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">deployment of new services such as Pay TV, to customers connected through broadband accesses in Spain, Chile, Argentina, Brazil, Peru and Colombia.</span></div><div style="margin-top:9pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile Networks</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate mobile networks in Spain, the United Kingdom (through VMO2), Germany, Brazil, Argentina, Venezuela, Chile, Peru, Colombia, Mexico, Ecuador and Uruguay. Telef&#243;nica also provided these services in </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">82</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Guatemala (until January 24, 2019), Nicaragua (until May 16, 2019), Panama (until August 29, 2019), Costa Rica (until August 9, 2021) and El Salvador (until January 13, 2022). For additional information, see "-History and Development of the Company-Overview&#8221;. In addition, Telef&#243;nica entered in 2019 into an agreement with AT&amp;T to access AT&amp;T&#8217;s last mile wireless capacity in Mexico. Through this agreement, Telef&#243;nica gains access to capacity on AT&amp;T&#8217;s 3G and 4G access network and any future access network technologies nationwide, while maintaining its transport network and all of its platforms in such country. The migration of the traffic to the AT&amp;T access network was completed during 2022. For additional information on the Wholesale Agreement, see &#8220;Item 10. Additional Information&#8212;Material Contracts&#8212;Wholesale Access Services Agreement with AT&amp;T Mexico&#8221;.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We use a number of mobile technologies in the countries in which we operate, namely: GSM, UMTS, LTE and 5G.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5G is currently solely being used in Spain, the United Kingdom, Germany, Brazil and Chile, countries where it is in a halfway phase of deployment. We continue the work of upgrading our mobile networks in line with market trends, the demand of new services from customers and the evolution of technologies. The main steps we are currently taking include:</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">evolution of broadband in mobile access using the latest LTE standards (LTE-A, MIMO and carrier aggregation) to improve network capacity and user experience;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">deployment of new services such as mobile television (OTT) and distribution services for next generation music, video and games;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">deployment of 5G networks following different approaches in order to give our customers the best experience for this new access technology. Together with the main vendors and sharing experience with other operators, we are exploring the opportunities that the new 5G standards can offer by providing higher capacity at a lower relative cost by user/traffic unit; and</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">convergence of fixed and mobile networks, services and support systems from both technological and operational points of view.</span></div><div style="margin-top:9pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Satellite communications</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The services provided using satellite platforms include television contribution signal to feed cable and IPTV head ends, DTH television, VSAT mainly for mobile telephony and Internet access in rural areas, emergency solutions, corporate communications and international communications.</span></div><div style="margin-top:9pt;text-indent:4.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Submarine cables</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are one of the world&#8217;s largest submarine cable infrastructure companies. Through Telxius, we continue to expand our global ecosystem of digital infrastructure based on more than 80,000 km of high-capacity fiber optic submarine cables. As of the date of this Annual Report, we hold a 70% beneficial interest in Telxius following the completion of the transaction with Taurus (described in &#8220;&#8213;History and Development of the Company&#8213;Recent Developments&#8221;). In addition, we own around 20 submarine domestic cables in Spain.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are submarine cable connections linking Europe, The Americas and Africa which are jointly owned by us and other telecom operators. The SAm-1 cable, fully owned by Telxius, has a length of approximately 25,000 kilometers and links different countries such as the United States, Puerto Rico, Ecuador, Guatemala, Peru, Chile, Brazil, Argentina and Colombia.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Next generation submarine cable systems are already in service to help meet the capacity demand in the future. The Brusa cable links Brazil and the United States, while the Marea and Dunant cables links the United States and Europe. Additionally, the 7,300 km Mistral cable serves the entire Pacific coast of South America with the highest levels of service, reliability and security. The 2,000 km next generation Tannat system (Santos-Las Toninas) adds to the Brusa (Virginia Beach &#8211; Rio de Janeiro) and Junior (Rio de Janeiro &#8211; Santos) cables on the Atlantic coast of Latin America to deliver modern and diverse end-to-end connectivity between the United States, Brazil and Argentina.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">83</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_82"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 4A. Unresolved Staff Comments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_85"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 5. Operating and Financial Review and Prospects</span></div><div id="i2ad619f032b2435680b3f6486d100018_88"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Operating Results</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Presentation of Financial Information</span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The information in this section should be read in conjunction with our Consolidated Financial Statements, included elsewhere in this Annual Report. Our Consolidated Financial Statements have been prepared in accordance with IFRS as issued by the IASB. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 the Telef&#243;nica Group is reporting financial information, both internally and externally, according to the following segments: Telef&#243;nica Spain,  VMO2, Telef&#243;nica Germany, Telef&#243;nica Brazil and Telef&#243;nica Hispam (formed by the Group's operators in Colombia, Mexico, Venezuela, Ecuador, Argentina, Chile, Peru and Uruguay).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2021, compared to 2020, the Telef&#243;nica Group changed its reporting segments as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On June 1, 2021, upon the establishment of VMO2 (whose results are accounted for under the equity method), the former Telef&#243;nica United Kingdom segment was replaced by the new VMO2 segment (see Notes 2 and 10 to the Consolidated Financial Statements). The Group&#8217;s consolidated results for the year ended December 31, 2021 include the consolidation of Telef&#243;nica United Kingdom from January 1 to June 1, and the equity accounting of 50% of the net result of VMO2 from June 1 to December 31 (see Note 10 to the  Consolidated Financial Statements). The gain registered upon the establishment of VMO2, amounting to 4,460 million euros (see Notes 2 and 23 to the Consolidated Financial Statements), is recorded under "Other companies". The VMO2 segment information included in this Annual Report is presented under management criteria, and shows 100% of VMO2&#8217;s results. In addition, information included in this Annual Report on the accesses of the Group and the VMO2 segment as of December 31, 2022 and December 31, 2021 includes 100% of the accesses of VMO2. Telef&#243;nica&#8217;s actual percentage ownership of VMO2 is 50%. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since it is not practicable to restate the historical segment financial information to reflect this change, in this Annual Report, the relevant segment discussions consist of (i) for purposes of the 2022-2021 period-on-period discussions, an analysis of the results of our VMO2 segment (which, for purposes of 2022, consists of the results obtained by VMO2 from January 1 to December 31, 2022, and, for purposes of 2021, consists of the results obtained by VMO2 from June 1 (the date on which VMO2 was established) to December 31, 2021), and (ii) for purposes of the 2021-2020 period-on-period discussions, an analysis of the results of our former Telef&#243;nica United Kingdom segment (which, for purposes of 2021,consists of the results obtained in the first five months of the year, until the establishment of VMO2 and the elimination of the Telef&#243;nica United Kingdom segment).</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The Telxius Group ceased to be a reporting segment in 2021 as a result of the sale of the telecommunications towers divisions in Europe and Latin America to American Tower Corporation (see Note 2 to the Consolidated Financial Statements). The Telxius Group&#8217;s results as well as the gain obtained for the sale of the telecommunications towers divisions, amounting to 6,099 million euros (see Notes 2 and 22 to the Consolidated Financial Statements) were recorded under "Other companies". </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 related region. Inter-segment&#160;transactions&#160;are&#160;carried&#160;out on an arm's-length basis.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information relating to other Group companies not specifically included in the segments referred to above is reported under "Other companies" (see Appendix I to the Consolidated Financial Statements), which includes Telef&#243;nica, 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 Incremental Group and BE-terna Group, acquired in March and June of 2022 (see Note 5 to the Consolidated Financial Statements), respectively, are reported within "Other companies".  "Other companies" also includes the share of results of investments accounted for by the equity method corresponding to the fiber optic companies incorporated in 2021 and 2022 (see Note 10).</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">84</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;The Group centrally manages borrowing activities, mainly through Telef&#243;nica, S.A. and other companies included in  "Other companies" (see Note 19, Appendix III and Appendix V to the Consolidated Financial Statements), so most of the Group's financial assets and liabilities are reported under  "Other companies". In addition, Telef&#243;nica, S.A. is the head of the Telef&#243;nica tax group in Spain (see Note 25 to the Consolidated Financial Statements). 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 through operating income.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;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.</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">85</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Significant Factors Affecting the Comparability of Our Results of Operations in the Periods under Review</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following factors affect the comparability of our results of operations in the periods under review:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Corporate transactions</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main corporate transactions in 2022 are related to the acquisition of mobile assets of Oi Group on April 20, 2022, the acquisition of the Incremental Group on March 21, 2022, the acquisition of the BE-terna Group on June 9, 2022 (see Note 5 to the Consolidated Financial Statements) and the creation of Bluevia on December 20, 2022 (see Note 2 to the Consolidated Financial Statements).</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main corporate transactions in 2021 were related to the sale of Telxius Group&#8217;s telecommunications towers on June 1, 2021, June 3, 2021 and August 2, 2021, the closing of the transaction for the establishment of VMO2 on June 1, 2021 (see Note 2 to the Consolidated Financial Statements), the sale of Telef&#243;nica de Costa Rica on August 9, 2021 and the partial sale of InfraCo, SpA on July 1, 2021.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In particular, VMO2 was the result of the combination of Telef&#243;nica&#8217;s and Liberty Global&#8217;s operating businesses in the United Kingdom (O2 Holdings Ltd. and Virgin Media UK, respectively). Following the establishment of VMO2 on June 1, 2021, Telef&#243;nica ceased to fully consolidate the results of O2 Holdings, Ltd (and the rest of the entities that comprised its former Telef&#243;nica United Kingdom segment) in its consolidated financial statements and started to account for VMO2's results under the equity method, based on its stake in VMO2  (50%). Therefore, since June 1, 2021, the results of Telef&#243;nica&#8217;s operations in the United Kingdom are reflected under a single heading of the consolidated income statement, &#8220;Share of income of investments accounted for by the equity method&#8221;. However, the VMO2 segment information is presented under management criteria and shows 100% of VMO2&#8217;s results. For additional information on these changes and how segment information is presented in this Annual Report, see &#8220;Item 4. Information on the Company&#8213;History and Development of the Company&#8213;Business areas&#8221;.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main corporate transactions in 2020 were related to the acquisition of 50% of the shares in Prosegur Alarmas Espa&#241;a, S.L.by Telef&#243;nica de Contenidos, S.A.U. on February 28, 2020.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Spectrum acquisition</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Spectrum acquisitions have a significant impact on our CapEx. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, these acquisitions totaled 173 million euros, mainly including 125 million euros corresponding to Colombia Telecomunicaciones and 35 million euros corresponding to Telefonica Brazil.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021, these acquisitions totaled 1,704 million euros, with 706 million euros corresponding to Telef&#243;nica Brazil, 515 million euros corresponding to our former Telef&#243;nica United Kingdom segment before the establishment of VMO2 on June 1, 2021, 352 million euros corresponding to Telef&#243;nica Spain and 131 million euros corresponding to Telef&#243;nica Chile.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020, these acquisitions totaled 126 million euros, with 94 million euros corresponding to Telef&#243;nica United Kingdom and 32 million euros corresponding to Telef&#243;nica Brazil.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:107%">Individual Suspension Plan</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2021, Telef&#243;nica Spain signed a Social Pact for Employment supported by the largest trade unions. Said Pact includes the Company&#8217;s differential commitments and is based on the following six lines of work: (1) equality and diversity; (2) new ways of working, flexibility and productivity; (3) incorporation and retention of talent; (4) reskilling and professional development; (5) functional and geographical mobility; and (6) a plan for the voluntary individual suspension of the employment relationship (the Individual Suspension Plan).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The present value of the estimated payment flows resulting from the Plan resulted in expenses amounting to 1,382 million euros before taxes in 2021, reflected in "Personnel expenses" (see Note 2 to the Consolidated Financial Statements).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:107%">Foreign Exchange Effects and Hyperinflation in Argentina and Venezuela</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign exchange rates generally had a positive impact on our 2022 results, mainly due to the appreciation of various Latin American currencies (in particular the Brazilian real) against the euro. However, foreign exchange rates had a negative impact on our reported 2021 and 2020 results, mainly due to the depreciation of various Latin </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">86</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">American currencies (in particular the Brazilian real) against the euro. Our reported results have also been impacted by hyperinflation adjustments in Argentina and Venezuela.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For additional information on the impact of exchange rates, see &#8220;&#8212;Exchange Rate Fluctuations&#8221; and Note 2 to the Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">COVID-19</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The COVID-19 crisis caused the greatest GDP fall of the last decades and adversely impacted the financial and operating performance of the Group in 2020 and, to a lesser extent, 2021. Among other effects, the COVID-19 crisis contributed to the depreciation of Latin American currencies against the euro. The exchange rates evolution, mainly of the Brazilian real, adversely affected the average exchange rates used to translate the financial statements of our Latin American subsidiaries in 2020 and, to a lesser extent, in 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues in 2020 were also affected by the reduction in the commercial activity, which was reflected in lower service revenues and handset sales. Telef&#243;nica experienced the most significant effects during the second quarter of 2020 as lockdowns imposed across the Group's markets put unprecedented pressure on commercial activity. The impact of the pandemic in 2020 was partially mitigated by the measures taken to reduce costs (including a 33.3% reduction in CapEx in 2020) and by lower churn rates, offset in part by measures taken in certain countries in response to the pandemic, such as the offer of minimum connectivity services at a free or reduced price.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Significant Changes in Accounting Policies</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Notes 2 and 3.o to our Consolidated Financial Statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Critical Accounting Policies and Estimates</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the amounts reflected in the Consolidated Financial Statements. We base our estimates on historical experience, where applicable, and other assumptions that we believe are reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We consider an accounting estimate to be critical if:</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">it requires us to make assumptions because information was not available at the time or it included matters that were highly uncertain at the time we were making our estimate; and</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">changes in the estimate or different estimates that we could have selected may have had a material impact on our financial condition, results of operations or cash flows.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The various policies that are important to the portrayal of our financial condition, results of operations and cash flows include:</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">accounting for non-current assets, including goodwill;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">deferred taxes;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">provisions;</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">revenue recognition; and</span></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">leases.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Non-current assets and goodwill</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment and intangible assets, other than goodwill, are recorded at acquisition cost. If such assets are acquired in a business combination, the acquisition cost is the estimated fair value of the acquired property, plant and equipment or intangible assets. Property, plant and equipment and intangible assets with definite useful lives are depreciated or amortized on a straight-line basis over their estimated useful lives.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets with indefinite useful lives are not amortized, but are, instead, subject to an impairment test on a yearly basis and whenever there is an indication that such assets may be impaired.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">87</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting for non-current assets, such as long-lived assets and intangibles, involves the use of estimates for determining: (a) the fair value at the acquisition date in the case of such assets acquired in a business combination, and (b) the useful lives of the assets over which they are to be depreciated or amortized. We believe that the estimates we make to determine an asset&#8217;s useful life are &#8220;critical accounting estimates&#8221; because they require our management to make estimates about technological evolution and competitive uses of assets.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. The fair value assigned to the retained investment is determined on the basis of the business plan of the relevant associate or joint venture, and involves significant judgments when considering significant assumptions such as regarding the long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate, each of which could be significantly affected by the future trends in the economic, competitive, regulatory and technological environment.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When an impairment in the carrying amount of an asset occurs, non-scheduled write-downs are made. We perform impairment tests of identifiable intangible and other non-current assets, such as equity method investments, whenever there is reason to believe that the carrying value may exceed the recoverable amount, which is the higher of the asset&#8217;s fair value less costs to sell and its value in use. Furthermore, previously recognized impairment losses may be reversed when changes in the estimates used to determine the asset&#8217;s recoverable amount indicate that an impairment loss recognized in prior periods no longer exists or may have decreased.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The determination of whether the impairment of non-current assets is necessary involves the use of significant estimates and judgment that includes, but is not limited to, the analysis of the cause of potential impairment in value, the timing of such potential impairment and an estimate of the amount of the impairment, which requires the estimation of the future expected cash flows, discount rates and the fair value of the assets.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Specifically, management has to make certain assumptions in respect of uncertain matters, such as growth in revenues, changes in market prices, operating margins, and technology developments and obsolescence, discontinuance of services and other changes in circumstances that indicate the need to perform an impairment test. Management&#8217;s estimates about technology and its future development require significant judgment because the timing and nature of technological advances are difficult to predict.</span></div><div style="margin-top:9pt;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain valuation techniques used for investments, such as the discounted cash flow model, require significant judgment when considering significant assumptions such as revenue growth rate, long-term EBITDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate. For information on our impairment analysis of our equity method investment in VMO2 at the end of the year, see Note 10 to the Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill arises when the cost of a business combination exceeds the acquirer&#8217;s interest in the net fair value of the identifiable assets acquired and liabilities assumed at the acquisition date. Goodwill is not amortized, but is, instead, subject to an impairment test on a yearly basis and whenever there is an indication that the goodwill may be impaired.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-scheduled write-downs of goodwill are made when an impairment in the carrying amount of goodwill occurs. We review, on a regular basis, the performance of our cash-generating units. We compare the carrying amount of the cash-generating unit to which the goodwill has been allocated with its recoverable amount. The determination of the recoverable amount of the cash-generating unit involves extensive use of estimates and significant management judgment is involved. Methods commonly used by us for valuations include discounted cash flow methods that require substantial judgement when considering significant assumptions about relevant performance metrics and other key variables. For more information and a sensitivity analysis of the assumptions used in our impairment tests with respect to Telef&#243;nica del Per&#250;, Ecuador and Chile, see Note 7 to the Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A significant change in the facts and circumstances that we relied upon in making our estimates may have a material impact on our operating results and financial condition. For information on the sensitivity to changes in certain significant assumptions, see Note 7 to the Consolidated Financial Statements. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred income taxes</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group assesses the recoverability of deferred tax assets based on estimates of future earnings, and of all the available options 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&#8217;s ability to generate taxable </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">88</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If we are unable to reliably measure the obligation, no provision is recorded and information is then presented in the notes to the Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant management criteria was involved in the recording of provisions relating to tax and regulatory contingencies in Brazil. See Notes 24, 25 and 29 to the Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue recognition</span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Bundled offers</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Arrangements involving the delivery of bundled products or services are assessed to determine whether it is necessary to separate the arrangement into individual component deliverables, each with its own revenue recognition criteria.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue relating to the bundled contracts is allocated to the different deliverables identified, based on their relative standalone selling prices.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given that the handsets and airtime are price-sensitive and volatile in a competitive marketplace, the determination of standalone selling prices in the mobile phone business is quite complex.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, a significant change in the facts and circumstances upon which we based our estimates on standalone selling prices may have an impact on the allocation of revenues among the different deliverables identified and, consequently, on future revenues.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Leases</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounting for a lessee&#8217;s rights and obligations under a lease contract requires the use of estimates for determining the lease term in those contracts that include options to extend the lease or early termination options. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, among others. 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.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating Environment</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">89</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our results of operations are dependent, to a large extent, on the level of demand for our services in the countries in which we operate. Demand for services in those countries is affected by the performance of their respective economies, particularly household private consumption, but also gross domestic product (GDP), inflation o(CPI), current accounts, and unemployment rates.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After facing in 2020 the worst recession since World War II (-3.1% global GDP contraction), the global economy began a strong recovery process in 2021 (5.9% global GDP growth). This recovery continued in 2022 despite certain adverse events for global economic activity, such as broad-based high inflation rates and monetary tightening, the Russian invasion of Ukraine (with the associated volatility in energy markets), bottlenecks in global supply chains (partly as a result of China&#8217;s zero-COVID policy) and extreme weather events that also impacted food-related prices. Against this backdrop, most analysts forecasted a recession in Europe during the second part of 2022 and anticipated similar concerns for the U.S. economy. However, the global economy has demonstrated a high degree of resilience supported by (i) investment projects (both public and private) to recover and foster production capacity in key areas after the pandemic (ii) accommodative fiscal stances to cushion the impact of inflation on the private sector (iii) solid nominal spending against the backdrop of strong labor markets with historical lows in unemployment and (iv) high levels of savings accumulated during the pandemic lockdowns. As a result, the global economy is estimated to have grown 3.2% during 2022 according to the International Monetary Fund. By regions, the United States is estimated to have grown 1.6%, the Eurozone 3.1%, the UK 4.1%, Latin America and the Caribbean 3.5% and China only a modest 3.2%, the lowest rate in 40 years. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Spain</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 the Spanish economy showed a robust degree of resilience against the headwinds it was facing. Despite the spread of the Omicron variant of the coronavirus, the Russian invasion of Ukraine (with the associated negative energy supply shock) and the normalization of monetary policy, Spain&#8217;s GDP grew 5.5% in 2022, following a 4.8% expansion in 2021 and an abrupt 10.8% decline in 2020 (compared to an annual average increase of 2.8% between 2015 and 2019). At the end of 2022, GDP was still 0.9% below pre-COVID levels. In 2022, the main contribution to GDP growth came from external demand (+2.9 p.p.) due to an apparent full recovery of the tourism sector. Internal demand contributed an additional 1.6 p.p., influenced by 5.2% investment growth, since private consumption only advanced at 1.7%, and public consumption receded 1.4%. Unemployment decreased to 12.7% at the end of the year (compared to 13.78% in 2021 and an average of 17.4% between 2015 and 2019).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">              Due to the energy supply shock&#8217;s impact on gas and electricity prices, supply-chain pressures, and food-related commodity increases, the 12-month inflation rate peaked during 2022 at 10.8%, although the 12-month inflation rate as of December 31, 2022, fell to 5.8% (compared to 6.5% for 2021 and an annual average of 0.9% between 2015 and 2019), due, at least in part, to fiscal measures aimed to moderate this impact. On the external front, the Spanish economy has been resilient. Despite strong growth and the decline in the balance of trade prompted by the increase in energy prices, the overall current account remained at positive levels (0.6% of GDP according to Funcas compared to 0.9% in 2021 and an annual average of 2.4% between 2015 and 2019), thanks to the external openness and competitiveness earned after the Great Financial Crisis. Fiscal balance recorded a deficit equal to 4.2% of GDP for 2022, compared to a deficit equal to 6.9% of GDP for 2021 and an annual average deficit equal to 3.6% of GDP between 2015 and 2019. However, strong nominal GDP growth contributed to a reduction of the debt-to-GDP ratio to 113.1% as of December 31, 2022, according to the Bank of Spain (compared to 118.3% as of December 31, 2021, and an average year-end ratio of 100.2% between 2015 and 2019). </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">United Kingdom</span></div><div style="text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">After the stellar 2021, when GDP growth in the UK reached 7.5% (the fastest growth among all G7 economies), UK GDP grew 4.2% in 2022, according to the British Chamber of Commerce (compared to 1.7% annual growth on average between 2015 and 2019). At the end of the third quarter of 2022, the UK&#8217;s GDP stood 2.2% above pre-pandemic level. Growth was led completely by internal demand, with private consumption advancing 4.7% and investment 5.3%. Government consumption advanced a moderate 1.9%.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The strong fiscal response that helped boost activity after pandemic lockdowns, together with global supply-chain bottlenecks and the external energy supply shock caused by Russia&#8217;s invasion of Ukraine, has impacted the British economy via inflation. The UK&#8217;s 12-month inflation rate (CPI) stood at 10.7% in November 2022 compared to 5.3% in December 2021 and 1.6% on average between 2015 and 2019. For December 2022 the Bank of England had set the main interest rate of its monetary policy operations to 3.5%, compared to 0.25% for December 2021 and 0.5% on average between 2015 and 2019.  In addition, the UK is experiencing the consequences of Brexit. The UK&#8217;s current account deficit plummeted to 5.8% of GDP in 2022 according to the Office for Budget Responsibility, compared to a current account deficit of 2.6% in 2021 and an annual average deficit of 4.1% between 2015 and </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">90</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2019. The country&#8217;s fiscal deficit stood at 6.9% of GDP for 2022, lower than the 8.0% of GDP deficit for 2021 but above the annual average deficit of 2.9% between 2015 and 2019. Against this backdrop, the GBP closed the year at 0.88 against the euro, compared to 0.84 as of December 31, 2021 and an annual average of 0.84 between 2015 and 2019.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Germany</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the rebound in GDP growth in 2021 of 2.7% that followed a GDP contraction of 4.6% in 2020, the German economy is estimated to have grown 1.8% in 2022 according to the Bundesbank, compared to an annual average of 1.7% between 2015 and 2019. Consequently, the German GDP stood at the end of the third quarter of 2022, 0.3% above pre-pandemic levels. The contribution of internal demand of 3.1 p.p. was partly offset by the decrease in external demand (-1.3 p.p.). Private consumption remained robust with 4.6% growth, supported by a tight labor market and high levels of savings accumulated during the pandemic, while gross fixed capital formation almost stagnated with 0.4% growth.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 12-month inflation rate as measured by the Harmonized Index of Consumer Prices (HICP) rose from 3.6% in December 2021 to 8.6% in December 2022, compared to an annual average of 1.3% between 2015 and 2019. A low unemployment rate, which reached 2.8% in December 2022 (compared to 3.0% in December 2021 and an annual average of 3.3% between 2015 and 2019), contributed, among other factors, to the acceleration in unit labor costs growth rate from 0.6% in 2021 to 3.6% in 2022, all according to the Bundesbank.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given the external supply shock and the country&#8217;s historical dependency on Russian gas supplies, Germany recorded for the first time a negative trade balance during the second half of 2022, which reduced its annual current account surplus from 7.4% in 2021 to 3.4% in 2022 (compared to an annual average surplus of 8.0% of GDP between 2015 and 2019). Finally, Germany&#8217;s fiscal deficit decreased to 2.8% in 2022 according to the Bundesbank, from 3.1% in 2021 (compared to an annual average surplus of 1.4% between 2015 and 2019). </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Brazil</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Brazilian GDP is estimated to have increased 2.7% in 2022 according to Consensus Economic Forecasts (&#8220;CFe&#8221;), reflecting mostly the end of social-distancing measures, which benefited the services sector and led to job creation, as well as fiscal stimuli. The result will be well above the -0.5% average annual growth rate between 2015 and 2019, after 5.0% growth in 2021. Brazil's GDP now stands 4.5% above pre-pandemic levels. The 12-month inflation rate, as measured by the Extended National Consumer Price Index (IPCA), was 5.8% as of December 31, 2022, above the target rate of 3.5%, but below the 12-month inflation rate of 10.1% as of December 31, 2021. The inflation decline is mostly related to tax cuts on regulated prices (fuel, electric energy and telecommunications), as well as a gradual deceleration of inflation with respect to industrial goods and services, reflecting commodity prices moderation and the initial effects of monetary policy tightening. Given the inflation scenario, the main interest rate (known as the Special System for Settlements and Custody (SELIC) rate) was increased from 9.25% at the end of 2021 to 13.75% at the end of 2022. The current account deficit would have improved by 0.8 p.p. to 2.0% of GDP in 2022 (CFe), slightly better than the annual average deficit rate of 2.6% of GDP between 2015 and 2019. Once more, the 2022 deficit was financed by capital inflows, such as foreign direct investments, despite portfolio investments outflows. The country&#8217;s fiscal deficit is estimated to have widened by 1.2 p.p. in 2022 to 5.6% of GDP (compared to an annual average deficit rate of 7.9% of GDP between 2015 and 2019). Brazil&#8217;s five-year credit default swap reached 254 basis points at 2022 year-end, up from 205 basis points at the end of 2021 and 143 basis points at the end of 2020. The Brazilian real appreciated against the U.S. dollar in 2022 by 5.1%. The exchange rate on December 31, 2022, was 5.29 Brazilian reals per U.S. dollar, compared to 5.58 Brazilian reals per U.S. dollar on December 31, 2021. Better-than-expected economic activity, higher interest rates and a strong trade balance benefited by elevated commodity prices have contributed to the real appreciation in 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mexico</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Mexican economy lagged behind its regional peers in recovering from the COVID-19 crisis. The country&#8217;s GDP is estimated to have grown 2.4% in 2022 (CFe), slowing down from 2021 growth of 5.0%, but exceeding the annual average growth of 2.0% between 2015 and 2019. By the third quarter of 2022, Mexico&#8217;s GDP stood 0.3% above pre-pandemic levels. Domestic demand was the main engine of growth, driven by strong growth of 4.9% in private consumption. The unemployment rate averaged 3.5% in 2022 (CFe), down from an annual average of 4.1% in 2021 and slightly below the annual average of 3.7% between 2015 and 2019. The 12-month inflation rate increased to 8.4% in December 2022, up from 7.4% in December 2021 (and significantly above the annual average of 4.0% between 2015 and 2019). Global supply shocks and rising demand pressures kept inflation well above its </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">91</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">policy target (3.0%). By December 2022, Banxico had raised its key interest rate 500 basis points since its December 2021 meeting, bringing the monetary policy rate to 10.5%. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Against the U.S. dollar, the Mexican peso appreciated by 4.8% to 19.47 Mexican pesos per U.S. dollar on average terms during 2022 (compared to an annual average exchange rate of 19.32 Mexican pesos per U.S. dollar between 2015 and 2019) on the back of an improving local economy, external tailwinds, and the conversations about the nearshoring of production processes to Mexico. Finally, the current account deficit is estimated to have worsened from 0.4% of GDP in 2021 to 1.1% of GDP in 2022 (compared to an annual average deficit of 1.8% of GDP between 2015 and 2019). Likewise, the fiscal deficit for 2022 reached 3.2% of GDP, rising 0.3 p.p. from the fiscal deficit for 2021 (2.9% of GDP) and higher than the annual average deficit of 2.0% of GDP between 2015 and 2019. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venezuela</span></div><div style="text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">According to data published by the Central Bank of Venezuela (the &#8220;BCV&#8221;), the Venezuelan economy grew 17.7% in the first nine months of 2022. This growth was enhanced by increases in all economic activities, especially the oil sector, which expanded around 27% in terms of volume in the first nine months. However, oil activity continues to be affected by the lack of investment in refineries and the effect of EU economic sanctions on the industry, with the consequent reduction in the number of operating drills. According to the Organization of the Petroleum Exporting Countries (OPEC), Venezuela&#8217;s crude oil production reached 686 thousand barrels per day (&#8220;kbd&#8221;) in November 2022, almost 143 kbd more than in November 2021 but still below 2018 levels. On the other hand, the easing of exchange market conditions favored private sector investments in non-oil activities, resulting in a 14.5% accumulated growth in the first nine months of 2022. In parallel, the process of disorderly and partial dollarization continues amid the restrictions imposed by financial sanctions on the movement of foreign currency funds abroad. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the first half of 2022, the government made efforts to maintain exchange rate stability and low inflation rates through market interventions and expenditure control. However, in the second half of the year, public expenditures accelerated, resulting in local currency depreciation and higher domestic inflation. Thus, despite the injection of 5 billion U.S. dollars into the foreign exchange market during the year, the local currency depreciated by 280% year-on-year. Meanwhile, the BCV reported a cumulative inflation rate of 119% from January to October 2022 (compared to 574% for the same period in 2021) and it is estimated to close the year around 180%, significantly below the annual inflation rates for 2021 (686%), 2020 (2,956%) and 2019 (9,585%).  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Chile</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Chilean economy is estimated to have expanded by 2.3% in 2022 (CFe), significantly below 2021 growth of 11.7%, but slightly above the annual average of 2.0% between 2015 and 2019. By the third quarter of 2022, the GDP level was 9.8% above pre-pandemic levels. The economy proved resilient in the face of decreasing fiscal stimulus, the tightening of monetary policy and eroding wage purchasing power caused by high inflation. The unemployment rate averaged 7.9% in 2022 (CFe), well below the average rate of 9.1% in 2021 but 1 p.p. higher than annual average rate of 6.9% between 2015 and 2019. Compared to pre-pandemic levels, about 200,000 jobs remain to be recovered. Following global trends, CPI 12-month inflation rates accelerated in December 2022 to 12.8% from 7.2% in December 2021 (compared to a Central Bank of Chile target and an annual average of 3.0% between 2015 and 2019) due to persistent supply bottlenecks, rising commodity prices and high household liquidity. As a result, the Central Bank of Chile reacted by raising its monetary policy rate by 725 basis points to 11.25% as of December 2022.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange rate closed 2022 at 859 Chilean pesos per U.S. dollar, which implies a depreciation of the Chilean currency of 1.1% with respect to the figure at the end of 2021 (850 Chilean pesos per U.S. dollar). However, if annual averages are compared, the local currency depreciated against the U.S. dollar by 15% (873 vs. 759) due to, among other factors, U.S. monetary policy tightening, fears of a global recession, the zero-COVID policy in China (which negatively affected copper prices) and an increase in domestic uncertainty associated with the Chilean Constituent Process (Chilean voters rejected a new draft Constitution in a September 2022 national plebiscite). For the first time since 2012, Chile&#8217;s fiscal account broadly balanced in 2022 (-0.1% of GDP), after having recorded a very high deficit in 2021 of 7.7% of GDP. The current account worsened 2.2 p.p. to 7.8% of GDP reflecting the strong dynamics of domestic demand observed for most of the year.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Argentina</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the Argentinian economy is estimated to have grown 4.6% (CFe) compared to a 10.4% growth rate in 2021 and an annual average growth rate of -0.2% between 2015 and 2019. Household consumption growth of </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">92</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8.3%, but also better terms of trade, were the main sources of growth. By the third quarter of 2022, the level of GDP was 1.8% higher than at the beginning of the pandemic. The unemployment rate averaged 7.3% in 2022 (CFe), 1.5 p.p. lower than in 2021 (8.8%) and 1.0 p.p. lower than the annual average rate between 2015 and 2019 (8.3%). The 12-month inflation rate rose to 94.8% in December 2022, a sharp increase compared to 2021 (50.9%) and the annual average between 2015 and 2019 (38.8%) on the back of global supply shocks, monetary financing of public deficits and persistent macroeconomic imbalances. As a result, the Central Bank of the Argentine Republic (BCRA) raised its key interest rate from 38% to 75% throughout the year. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Argentine peso depreciated 72% against the U.S. dollar in 2022, reaching 177.1 pesos per dollar at year-end, as authorities accelerated the rate of crawl to deter rising demand for dollars and meet exchange rate targets agreed with the IMF. The shortage of foreign currency and capital controls led to the emergence of a multiple-exchange-rate regime, in which the exchange rate gap between the official rate and the parallel ("blue") market rate widened to 100%. The current account is estimated to show a mild deficit of around 0.3% of GDP, which contrasts with the 2021 surplus of 1.4% of GDP, although it is better than the average annual deficit of 3.2% of GDP between 2015 and 2019. Meanwhile, the overall fiscal deficit is estimated to reach 4.0% of GDP, 0.4 p.p. above that recorded in 2021 of 3.6% of GDP, but 1.0 p.p. below the average annual deficit of 5.0% of GDP between 2015 and 2019. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It should be noted that in 2022 the country signed a new agreement with the IMF to finance 44 billion U.S. dollars of its outstanding public debt. This agreement seeks a gradual reduction of both the fiscal deficit and monetary issuance and the accumulation of international reserves by the BCRA. The objective is that by 2025, Argentina will have a fiscal balance and a solid international reserves position that will allow it to pay its debt maturities. In 2022, the fulfillment of the goals of the agreement with the IMF allowed the country to reduce macroeconomic volatility.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Colombia</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Colombia&#8217;s GDP is estimated to have increased by 7.2% in 2022 (CFe), following a 10.7% expansion in 2021 and an annual average growth of 2.4% between 2015 and 2019. By the third quarter of 2022, the country&#8217;s GDP stood 11.1% above pre-pandemic levels. Private consumption (8.8%), supported by labor income recovery, credit growth, high remittances and improved terms of trade, was the main driver of the recovery. Meanwhile investment continued to recover slowly.  Colombia&#8217;s average annual unemployment rate is estimated to have declined from 13.8% in 2021 to 11.2% in 2022, but still far from annual average of 9.9% between 2015 and 2019.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inflation accelerated sharply to 13.1% year-on-year in December 2022 (not peaking yet), the highest rate in more than two decades, well above the 5.6% year-on-year rate recorded in December 2021 and the Central Bank of Colombia&#8217;s target of 3.0% and the average annual rate of 4.7% between 2015 and 2019. The upward trend in 2022 was due to several factors, such as external price shocks, exchange rate depreciation, strong recovery of aggregate demand, indexation mechanisms and internal food supply shock. In response, the Central Bank of Colombia increased its key interest rate by 900bps from 3% to 12%. The Colombian peso closed the year at 4,810 Colombian pesos per U.S. dollar, a sharp depreciation of 20% due to political uncertainty, higher levels of risk premium and the global macroeconomic environment. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Colombia&#8217;s current account deficit is estimated to have reached 20.5 billion U.S. dollars in 2022 (6% of GDP), levels not seen since 2015 when oil prices fell sharply. The annual average between 2015 and 2019 was 4.6% of GDP. This deterioration is explained by the strong increase in imports and the increase in profit remittances from companies with foreign capital operating in the country. On the fiscal front, the central government&#8217;s deficit decreased to 5.5% of GDP in 2022 from 7.1% in 2021 and 7.8% in 2020, compared to an annual average of 3.2% between 2015 and 2019, mainly due to higher tax revenues in a context of high commodities prices and healthy levels of economic activity. In the political front, and under the impetus of the new president Gustavo Petro, Colombia&#8217;s congress approved a new tax reform aimed to increase revenues by 1.3% and 1.4% of GDP in 2023 and 2024, respectively.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Peru</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the economy is estimated to have grown 2.7% (CFe) following the 13% rebound in 2021 and an annual average growth rate of 3.2% between 2015 and 2019. This leaves Peru&#8217;s GDP 3.8% above its pre-pandemic levels, driven mainly by higher consumption (given the fast job recovery), pension fund withdrawals and rapid credit growth.  The unemployment rate is estimated to have declined 3.6 p.p. in 2022 to 7.7% (CFe) compared to 2021, but it is still below its average annual rate of 6.7% between 2015 and 2019. Employment has recovered and is above pre-pandemic levels, but informality has increased, reaching 70% of the workforce. Inflation peaked at 8.8% year-on-year in June 2022 and has been on a downward trajectory since then (8.5%) year-on-year as of December </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">93</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022 compared to an annual average of 2.6% between 2015 and 2019). In response, the Central Reserve Bank of Peru raised its policy key rate from 2.50% in December 2021 to 7.50% in December 2022. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Peruvian nuevo sol appreciated 4.3% against the U.S. dollar in 2022 reaching 3.81 Peruvian nuevos soles per U.S. dollar at year-end, which contrasts with the depreciation experienced in 2021 (10%). The current account deficit is estimated to have worsened in 2022 by 1.3 p.p. to 3.6% of GDP (compared to an annual average deficit of 2.0% of GDP between 2015 and 2019). In contrast, Peru&#8217;s fiscal deficit is estimated to have improved by 0.6 p.p. to 1.9% of GDP (compared to an annual average deficit of 2.2% of GDP between 2015 and 2019), well below the limit of 3.7% foreseen by the fiscal rule, thanks to higher tax revenues in a context of high commodity prices.   </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022, President Pedro Castillo was impeached and arrested on charges of rebellion after announcing that he would shutter Peru&#8217;s Congress and rule by decree. Vice President Dina Boluarte replaced Castillo, and she is expected to remain in office until new presidential elections are held. </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exchange Rate Fluctuations</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We publish our Consolidated Financial Statements in euros. Because a substantial portion of our assets, liabilities, revenues and expenses are denominated in currencies other than the euro, we are exposed to fluctuations in the values of these currencies against the euro. Currency fluctuations have had and may continue to have a material impact on our financial condition, results of operations and cash flows.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We estimate that in 2022 variations in currencies contributed to the year-on-year increase in our consolidated revenues by approximately 4.5 percentage points. Currency fluctuations can also have a significant impact on our statement of financial position, particularly equity attributable to equity holders of the parent, and on our statement of cash flows, when translating the financial statements of subsidiaries located outside the Eurozone into euro. In 2022 translation differences had a positive impact on equity attributable to equity holders of the parent of 1,169 million euros.  In addition, our cash and cash equivalents increased by approximately 156 million euros due to the translation of the financial statements of our foreign subsidiaries, principally due to the appreciation of the Brazilian real relative to the euro.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We estimate that in 2021 variations in currencies contributed to the year-on-year decrease in our consolidated revenues by approximately 2.3 percentage points. In 2021 equity attributable to equity holders of the parent increased by 4,088 million euros (impacted by the negative translation differences of Telef&#243;nica United Kingdom accumulated in equity at June 1, 2021 and reclassified to the income statement as a result of the establishment of VMO2 (see Note 2 to the Consolidated Financial Statements), for an amount of 3,135 million euros).  In addition, our cash and cash equivalents decreased by approximately 179 million euros due to the translation of the financial statements of our foreign subsidiaries, principally due to the depreciation of the Brazilian real relative to the euro.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We estimated that in 2020 variations in currencies decreased year-on-year growth in our consolidated revenues by approximately 6.5 percentage points. In 2020 equity attributable to equity holders of the parent decreased by 5,801 million euros and cash and cash equivalents decreased by approximately 402 million euros due to the translation of the financial statements of our foreign subsidiaries, principally due to the depreciation of the Brazilian real relative to the euro.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venezuela is considered as a hyperinflationary economy since 2009. The inflation rates used to prepare the financial information included herein are based on the National Consumer Price Index of Venezuela (Indice Nacional de Precios al Consumidor de Venezuela) published by the Central Bank of Venezuela, or where a definitive index is not available, the best estimation. On an annual basis, these rates are 174.3%, 686.4% and 2,959.8% for 2022, 2021 and 2020, respectively. The exchange rates used to convert items denominated in Venezuelan bolivar, once adjusted for inflation, in the Consolidated Financial Statements are the closing rates as of December 31, 2022, 2021 and 2020, which were 45.18 bolivar digital per U.S. dollar (synthetic exchange rate), 16.47 bolivar digital per U.S. dollar (synthetic exchange rate) and  2,094,405 bolivar soberano per U.S. dollar (synthetic exchange rate), respectively. The bolivar fuerte was devalued in October 2021 and a new currency, the bolivar digital, was adopted. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Argentina is considered as a hyperinflationary economy since July 2018. The inflation rates used to prepare the financial information included herein are based on the National Consumer Price Index of Argentina (Indice de Precios al Consumidor con Cobertura Nacional de Argentina) published by the Central Bank of Argentina, or where a definitive index is not available, the best estimation. On an annual basis, this rate was 94.79% for 2022, 50.94% for 2021 and 36.1% for 2020. The exchange rate used to convert items denominated in Argentine peso, once </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">94</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">adjusted for inflation, in the Consolidated Financial Statements are the closing rates as of December 31, 2022, 2021 and 2020, which were 177.1, 102.7 and 84.1 Argentine pesos per U.S. dollar, respectively.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below sets forth the average exchange rates against the euro of the U.S. dollar and the key currencies that impacted our consolidated results of operations for the periods indicated. Positive percentage changes represent a decline in the value of the applicable currency relative to the euro, and negative percentage changes represent increases in the value of the applicable currency relative to the euro.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.052%"><tr><td style="width:1.0%"></td><td style="width:37.408%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.989%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.989%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.989%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.014%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020 (1)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021 (1)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022 (1)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% change 2020 vs 2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% change 2021 vs 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Average</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pound Sterling</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">U.S. Dollar</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.05&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11.10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Brazilian Real</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(15.00&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Argentine Peso (2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">103.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">116.37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">189.08&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12.73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62.48&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Peruvian Nuevo Sol</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.98&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.59&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.03&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15.26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12.09&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chilean Peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">901.81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">896.59&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">916.52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mexican Peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23.98&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21.12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11.89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Venezuelan Bolivar Digital (2)(3)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18.65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">n.m.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">n.m.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Colombian Peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,197.73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,425.64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,452.39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Notes:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">n.m.:not meaningful </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Source: Central treasury bank of the respective countries, except with respect to the Venezuelan bolivar digital </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)&#160;&#160;&#160;&#160;These exchange rates are used to convert the income statements of our subsidiaries from local currency to euro.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)&#160;&#160;&#160;&#160;As Venezuela and Argentina are considered to be hyperinflationary economies, the income statement from operations in each such country is accounted for pursuant to the closing exchange rate of the relevant local currency to euro.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)&#160;&#160;&#160;&#160;Due to the depreciation of the Venezuelan Bolivar Soberano, a new currency was created in 2021 called Bolivar Digital. For comparative purposes the value of the Venezuelan Bolivar Soberano in 2020 was divided by one million. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We describe certain risks related to exchange rate fluctuations in &#8220;Item 3. Key Information&#8212;Risk Factors,&#8221; and we describe our policy with respect to limiting our exposure to short-term fluctuations in exchange rates under &#8220;Item 11. Quantitative and Qualitative Disclosures About Market Risk.&#8221;</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Group Results of Operations</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see &#8220;Item 4. Information on the Company &#8212; Business Overview&#8221;.</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">95</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_91"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Liquidity and Capital Resources</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash Flow Analysis</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below sets forth consolidated cash flow information for the years indicated. Positive figures refer to cash inflows and those in parentheses refer to cash outflows.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash from operating activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,196</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,763&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash from (used in) investing activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,790)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,896&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,327)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash used in financing activities</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,438)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,990)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,925)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net cash from (used in) investing activities was significantly impacted  in 2021 by the cash received from the  sale of the tower divisions of the Telxius Group and the incorporation of VMO2.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For additional details regarding our cash flows for the years ended December 31, 2020, 2021 and 2022, please see the Consolidated Statements of Cash Flows and Note 28 to our Consolidated Financial Statements.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Anticipated Uses of Funds</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our principal liquidity and capital resource requirements consist of the following:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">costs and expenses relating to the operation of our business;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">debt service requirements relating to our existing and future debt;</span></div><div style="padding-left:36pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10pt">capital expenditures (including spectrum acquisitions) for existing and new operations;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">acquisitions of new licenses or other operators or companies engaged in complementary or related businesses; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">dividends, other shareholder remuneration, and pre-retirement payments.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2023, we expect to continue transforming our networks, evolving them towards all-IP hyper-connected networks, by investing in FTTx in key markets, and by expanding our mobile networks with LTE in most of our operations. We also expect to continue investing in TV and digital services&#160;to take advantage of the opportunities in the digital markets. We may also use funds to acquire new licenses engaged in complementary or related businesses in the digital world.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We also have liquidity requirements related to the costs and expenses relating to the operation of our business, financial investments (including investment commitments with joint venture partners), our payment of dividends, shareholder remuneration and pre-retirement payment commitments.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> &#160;&#160;&#160;&#160;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We also have liquidity constraints related to debt service requirements in connection with our existing and future debt. At December 31, 2022, we had gross financial debt of 39,079 million euros compared with 42,295 million euros at December 31, 2021. For the amortization schedule of our consolidated gross financial debt at December 31, 2022 and a further description of financing activity in 2022, see &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#8212;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Anticipated Sources of Liquidity&#8221; below. Our net financial debt increased by 601 million euros to 26,687 million euros at December 31, 2022, compared with 26,086 million euros at December 31, 2021, despite a positive free cash flow generation of 4,566 million euros. This was due to (i) net financial investments of 1,000 million euros (mainly relating to the acquisition of Oi&#8217;s mobile assets, the acquisition of BE-terna Group and Incremental Group, net of the sale of Telef&#243;nica El Salvador and the fiber sale operations in Colombia and Spain), (ii) shareholder remuneration of 1,688 million euros (including coupon payments of capital instruments), (iii) labor-related commitment payments of 853 million euros, and, (iv) other net factors totaling 1,626 million euros (mainly the higher value in euros of net debt in foreign currenci</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">es, highlighting the impact of the appreciation of the Brazilian real, spectrum renewal in Colombia and, as an offset, the application of the favorable court ruling in Brazil).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For a reconciliation of net financial debt to gross financial debt, see &#8220;&#8212;Presentation of Financial Information&#8212;Non-GAAP Financial Information&#8212;Net financial debt and net financial debt plus commitments&#8221;.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">96</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes our contractual obligations and commitments with definitive payment terms which may require significant cash outlays in the future. The amounts payable (including accrued interest payments) are as of December 31, 2022. For additional information, see our Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.126%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.254%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.254%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.254%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.254%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.258%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="15" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Payments Due by Period</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1-3 years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3-5 years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">More than 5 years</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial liabilities (1)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,020&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,827&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,490&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,742&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities (2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8,677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,020&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,698&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,854&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Purchase and other contractual obligations (3)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,285</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,991&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,744&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities (4)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,630</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">720&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">62,671</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,751</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">15,111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,469</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">25,340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:3pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.02pt">Estimated future interest payments as of December 31, 2022 on our interest-bearing debt (not included above) are as follows: 1,254 million euros in 2023, 1,147 million euros in 2024, 1,057 million euros in 2025, 978 million euros in 2026, 871 million euros in 2027 and 7,840 million euros in subsequent years. With respect to floating rate debt, we estimate future interest payments as the forward rates derived from yield curves quoted for the different currencies on December 31, 2022. This item includes the fair value of derivatives classified as financial liabilities (i.e., those with a negative mark-to-market) and excludes the fair value of derivatives classified as current financial assets (712 million euros), and those classified as non-current (2,668 million euros) (i.e., those with a positive mark-to-market). For a more detailed description of our financial derivative transactions, see Note 19 to our Consolidated Financial Statements. For details of the composition of this item, see &#8220;&#8212;Liquidity and Capital Resources</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Anticipated Sources of Liquidity&#8221;).</span></div><div style="margin-bottom:3pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.02pt">This item includes lease liabilities. For a more detailed description see Note 20 to our Consolidated Financial Statements.</span></div><div style="margin-bottom:3pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.02pt">This item includes definitive payments (non-cancellable without penalty cost) due for agreements to purchase goods (such as network equipment) and services. For a more detailed description see Note 26 to our Consolidated Financial Statements.</span></div><div style="margin-bottom:3pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.02pt">&#8220;Other liabilities&#8221; include: (a) long-term obligations that require us to make cash payments, excluding financial debt obligations included in the table under &#8220;Financial Liabilities&#8221; above and (b) other provisions. Because of the nature of the risks covered by &#8220;Other liabilities&#8221; such as other provisions, it is not possible to determine a reliable schedule of potential payments, if any. For details of the composition of other provisions, see Note 24 to our Consolidated Financial Statements.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">       Commitments for short-term leases and low value leases amounted to 33 million euros as of December 31, 2022. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, at December 31, 2022, we had short-term and long-term employee benefits provisions amounting to 885 million euros and 4,093 million euros, respectively, not included in the table above (see Note 24 to our Consolidated Financial Statements) and non-current and current account payables, such as trade payables, payables to suppliers of property, plant and equipment and payables for spectrum acquisitions, amounting to 1,914 million euros and 12,018 million euros, respectively (see Notes 21 and 22 to our Consolidated Financial Statements), not included in the table above.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, at December 31, 2022, VMO2 had commitments amounting to 6,877 million euros related to purchase, programming, network and connectivity and other commitments not included in the table above (see Note 10 to our Consolidated Financial Statements).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For details of the composition of, and changes in, our debt, see &#8220;&#8212;Liquidity and Capital Resources&#8212;Anticipated Sources of Liquidity&#8221; and Note 18 "Financial Liabilities" to our Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a discussion of our liquidity risk management policy, see Note 19 to our Consolidated Financial Statements.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">97</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Anticipated Sources of Liquidity</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash flows from operations are our primary source of cash funding for existing operations, capital expenditures, investments, licenses, interest obligations and principal payments. We also rely on external financing, including a variety of short, medium and long-term financial instruments, principally bonds and debentures, undated deeply subordinated securities and borrowings from financial institutions. Cash and cash equivalents are mainly held in euros and euro-denominated instruments</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%">.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We hold most our cash and cash equivalents in demand and in various terms up to three-month time deposits in euro. Additionally, we hold cash and cash equivalents in time deposits in U.S. dollars, typically with a term of less than one year. These transactions are executed with financial counterparties that have credit ratings that satisfy Telef&#243;nica&#8217;s standards.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In recent years, we raised funds by issuing principally equity instruments (undated deeply subordinated securities and mandatory convertible notes) and debt securities, and we may issue additional equity or debt securities at any time. We have also raised funds through a series of asset divestitures. In 2022, the main sources of funds from divestitures came from the completion of the agreement with Vauban and CAA for the deployment and commercialization of a fiber FTTH network mainly in rural areas in Spain, the sale of the entire share capital of Telef&#243;nica M&#243;viles El Salvador and the agreement reached between Telef&#243;nica Colombia and a Colombian company controlled by KKR, for the sale of fiber assets and for the provision of connectivity services and deployment of the fiber network. See "Item 10. Additional Information&#8212;Material Contracts".</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financing</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table shows the amortization schedule of our consolidated gross financial debt at December 31, 2022 as stated in euro, excluding estimated future interest payments. We may have exchange rate financial derivatives as instruments assigned to the underlying debt instruments. The table below includes the fair value of derivatives classified as financial liabilities (i.e., those with a negative mark-to-market) and excludes the fair value of derivatives classified as current financial assets (712 million euros), and those classified as non-current (2,668 million euros) (i.e., those with a positive mark-to-market). For description of the liquidity risk we face, see Note 19 to our Consolidated Financial Statements, and for a description of our financial liabilities, see Note 18 to our Consolidated Financial Statements.</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.291%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.408%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="15" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Debentures and bonds</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,948&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,126&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,170&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,796&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,320&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Promissory notes &amp; commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">355&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,257</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,180</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,110</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,173</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">18,955</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">29,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">32,167</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">673&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">572&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">376&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,360&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">109&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,010</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,817</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,421</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">5,069</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">21,742</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">35,059</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Notes:</span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">- Estimated future interest payments as of December 31, 2022 on our interest-bearing debt (not included above) are as follows: 1,254 million euros in 2023, 1,147 million euros in 2024, 1,057 million euros in 2025, 978 million euros in 2026, 871 million euros in 2027 and 7,840 million euros in subsequent years. With respect to floating rate debt, we estimate future interest payments as the forward rates derived from yield curves quoted for the different currencies on December 31, 2022. </span></div><div style="text-indent:20.25pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During 2022, we obtained financing (excluding the refinancing of euro commercial paper and short-term banking loans) totaling approximately 15,009 million euros of which 8,849 million euros was at the Group level, 1,740 million euros were obtained by VMO2 (the joint venture in the UK with Liberty Global plc), 599 million euros were obtained by Cornerstone Telecommunications Infrastructure Limited (a joint venture of Vantage Towers AG and VMO2), 61 million euros were obtained by FiBrasil (the joint venture in Brazil with CDPQ) and 3,760 million euros were obtained by nexfibre, the joint venture formed by Liberty Global (25%), T. Infra (25%) and Infravia (50%)). Telef&#243;nica's financing activity was focused on maintaining a solid liquidity position, as well as refinancing and maintaining long debt maturities.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">98</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For a description of our financing, see Note 18 to our Consolidated Financial Statements. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As permitted under Rule 13-01(a)(4)(vi) of Regulation S-X, we have excluded the summarized financial information for Telef&#243;nica Emisiones, S.A.U and Telef&#243;nica Europe, B.V. because they are both considered to be a "finance subsidiary" (as defined in such Rule) of Telef&#243;nica, S.A., the debt securities issued by them are fully and unconditionally guaranteed by Telef&#243;nica, S.A., and no other subsidiaries of Telef&#243;nica, S.A. guarantee their debt issuances.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our borrowing requirements are not significantly affected by seasonal trends.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Availability of funds</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, we had funds available (including cash and cash equivalents, undrawn lines of credit and current financial assets) totaling 21,413 million euros. This amount included: undrawn lines of credit for an amount of 11,737 million euros (11,434 million euros expiring in more than 12 months); cash and cash equivalents; and certain current financial assets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe that, in addition to internal generation of funds, our working capital, our medium-term note program, our euro commercial paper program, our corporate domestic promissory note program and available lines of credit will allow us to meet our future capital requirements, including (according to our liquidity policy) gross debt maturities in the next 12 months.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a description of our liquidity and undrawn lines of credit available at December 31, 2022, see Note 18 to our Consolidated Financial Statements, and for a discussion of our liquidity risk management and our capital management, see Note 19 to our Consolidated Financial Statements.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. is the parent company of the Telef&#243;nica Group and receives funding from its subsidiaries in the form of dividends and loans. Consequently, certain restrictions on the ability of the Group&#8217;s subsidiaries to transfer funds to Telef&#243;nica, S.A. in the form of cash dividends, loans or advances, capital repatriation and other forms would negatively affect our liquidity and thus our business. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain Latin American economies, such as currently Venezuela or Argentina, have experienced shortages in foreign currency reserves and their respective governments have adopted restrictions on the ability to transfer funds out of the country and/or convert local currencies into U.S. dollars. This may limit our ability to repatriate funds out of certain subsidiaries from such countries. Regarding net repatriation of funds to Spain, in 2022 we received 693 million euros from our Latin American subsidiaries, of which 652 million euros were related to dividends. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Credit Ratings</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our ability to use external sources of financing will depend largely on our credit ratings. We believe that we are well-positioned to raise capital in financial markets. However, negative conditions in the financial markets or a downgrade of any of the ratings of our debt or the Kingdom of Spain&#8217;s debt by any of Fitch, Moody&#8217;s and/or Standard &amp; Poor&#8217;s may increase the cost of our future borrowings or may make it more difficult to access the public debt markets. In connection with the credit rating agencies&#8217; review of our debt ratings, the rating agencies may give considerable weight to general macroeconomic and political conditions (including sovereign credit rating prospects), the performance of our businesses in countries where we operate, our financial and shareholder remuneration policy, our M&amp;A and divestiture policy, our ability to integrate acquired companies and our ability to refinance debt.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, Telef&#243;nica, S.A.&#8217;s long-term issuer default rating is "BBB stable outlook" from Fitch, &#8220;BBB- stable outlook" from Standard &amp; Poor's and &#8220;Baa3 stable outlook" from Moody's. During 2022, there have not been changes in the long-term credit ratings by any of the three agencies. The latest changes in the credit ratings took place in 2020 when Standard and Poor&#8217;s revised the outlook to &#8220;negative&#8220; from &#8220;stable&#8221; on April 1, 2020 and later, on November 20, 2020 downgraded the rating to &#8220;BBB - stable&#8221; from &#8220;BBB negative&#8221;. On November 7, 2016 Moody's downgraded the rating to &#8220;Baa3 stable&#8221; from &#8220;Baa2 negative&#8221; and on September 5, 2016 Fitch downgraded the rating to &#8220;BBB stable&#8221; from &#8220;BBB+ stable&#8221;.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, measures taken to protect the credit rating included an active portfolio management through the closing of the sale of the entire share capital of Telef&#243;nica M&#243;viles El Salvador. Telef&#243;nica also closed various strategic deals to reinforce its business profile, such as the agreement reached between Telef&#243;nica Colombia and a Colombian company controlled by KKR, for the sale of fiber assets and for the provision of connectivity services and deployment of fiber network. In December, Telef&#243;nica closed the agreement with Vauban Infrastructure Partners and </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">99</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cr&#233;dit Agricole Assurances for the deployment and commercialization of a FTTH network mainly in rural areas in Spain.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telefonica maintains a solid liquidity position and conservative approach to debt refinancing, as the Group took advantage of the historical low refinancing rates in recent years to extend average debt life and smooth its maturity profile in coming years.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Intra-group Loans</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We lend funds to our operating subsidiaries, directly or through holding companies that head our different lines of business. At December 31, 2022, companies in the Telef&#243;nica Group owed Telef&#243;nica, S.A. a total of 1,715 million euros (3,772 million euros at December 31, 2021), including amounts due under intra-group loans and dividends distributed and uncollected at December 31, 2022. Funds provided by Telef&#243;nica, S.A. to its subsidiaries are derived from retained cash flows, loans, bonds, issuances of undated deeply subordinated securities and other sources (such as dividends and asset disposals). For additional information, see "Item 7. Major Shareholders and Related Party Transactions&#8212;Related Party Transactions&#8212;Intra-Group Loans".</span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_94"></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Research and Development, Patents and Licenses, etc.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica remains committed to technological innovation as a fundamental tool for being one of the main players in the new digital universe, contributing to the creation of a more sustainable world while achieving competitive advantages and distinctive products. By introducing new technologies and developing business solutions and processes, we aim to become a more effective, efficient and customer-oriented Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica bases its innovation strategy on the balance between two main models: </span></div><div style="margin-top:9pt;text-align:justify;text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:21.44pt">First, through our internal research, development and innovation (R&amp;D&amp;I), for which we have developed our own innovation model, which allows us to leverage R&amp;D&amp;I results and capabilities in developing commercial products and services benefiting from knowledge gained in collaborations with research centers, technological institutes and universities, amongst other sources; and </span></div><div style="margin-top:9pt;text-align:justify;text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:21.44pt">Second, through the creation of open innovation ecosystems, in which the &#8220;Wayra&#8221; initiative stands out as a global program designed to connect entrepreneurs, start-ups, investors, venture capital funds and public and private organizations around the world to promote innovation in collaboration with other actors. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to these two models, Telef&#243;nica seeks to promote the development of sustainable solutions that generate a positive impact on the environment and on the economic, social and technological progress of the regions in which we operate. To this effect, Telef&#243;nica invests in promoting sustainable innovation projects and in the activities that improve the accessibility of our solutions to all groups. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Internal Research, Development and Innovation:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica believes that competitive advantage cannot be based solely on acquired technology, and so has considered the promotion of internal R&amp;D&amp;I activities as a strategic axis, in an effort to achieve this differentiation and move forward in other activities which support the sustainability of our business. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To this end, Telef&#243;nica Group&#8217;s internal innovation policy focuses on contributing solutions that support Telef&#243;nica&#8217;s commitment to developing a responsible business under the criteria of economic, societal and environmental sustainability, by: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Developing new products and services that enable growth and competition in an increasingly global environment, while being adapted to the diversity and local needs of each market; </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Increasing the revenue potential related to new products by creating value from the intellectual property rights of the generated technology; </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Increasing our customers' loyalty and satisfaction; </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Increasing the revenues, profits and value of the Company; </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Increasing the quality of our infrastructure and services; </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Strengthening our relationship with our technology and solutions providers; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Improving business processes and operations with the aim of optimizing resources, increasing efficiency and reducing environmental impact. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022, we carried out numerous technological innovation projects focused on sustainability, process efficiency, the creation of new sources of revenue, customer satisfaction, the consolidation of our presence in new markets and technological leadership. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The technological innovation activities of Telef&#243;nica are focused on three main areas:  </span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">Telecommunication networks. These activities aim at developing and integrating new assets and components into our networks and systems, with three main pillars: (i) next generation of network technologies such as the evolution of 5G and the early development of 6G networks, new in-home networks, open and disaggregated technologies, including efficiently deploying the network in remote, sparsely populated or difficult-to-serve areas, and networks that incorporate quantum technologies; (ii) cloud-native and fully virtualized, software-based network architectures, which enable us to have a more flexible and adaptable network that is dynamically adaptable to the new requirements of digital services and customers, in line with the &#8220;network slicing&#8221; paradigm and furthermore offering this adaptation capabilities to network users under a &#8220;Network as a Service&#8221; model; and (iii) Data-based Artificial Intelligence driven operations. </span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">The development of new products and services which are carried out within the framework of the digital services strategy. Products and services for the mass market include: financial inclusion, healthcare, entertainment services, etc. Products and services for the B2B market include: a wide portfolio of cloud and cybersecurity services, IoT platforms and connectivity, Big Data, Artificial Intelligence and blockchain, with vertical services tailored to rural connectivity, programmatic advertising, mobility or energy efficiency sectors, among many others</span></div><div style="text-align:justify;text-indent:40.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.73pt">Experimental and applied research: With a medium and long-term outlook, Telef&#243;nica also has specialized scientific groups whose mission is to investigate the possibilities of new networks and services and to solve the technological, social and environmental challenges that arise. These activities include research and development in fields like the Metaverse, Web3 or the application of Artificial Intelligence to sports and natural language processing.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The total research and development ("R&amp;D") expense in the Group for 2022 amounted to 656 million euros, 21.4% lower than the 835 million euros incurred in 2021 (959 million euros in 2020), mainly due to exclusion of Telef&#243;nica United Kingdom from  the consolidation perimeter in 2021. These expenses represented 1.6%, 2.1% and 2.2% of the Group&#8217;s consolidated revenues for 2022, 2021 and 2020, respectively. For comparison purposes, the investment in R&amp;D in 2021, excluding the companies in the former Telef&#243;nica United Kingdom segment that now fall outside of the consolidation perimeter, amounted to 689 million euros, 4.7% higher than in 2022. These figures were calculated using guidelines of the Organization for Economic Co-operation and Development ("OECD") manual. </span></div><div style="text-align:justify;text-indent:76.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022, Telef&#243;nica registered 14 new patent applications, 10 of which were European applications, and four of which were international applications (PCT). All of them were registered through the Spanish Patent and Trademark Office (OEPM). Moreover, two new industrial design families with European and Chilean scope were registered through the European Union Intellectual Property Office (EUIPO). This means a decrease of 12.5% in the number of new patents, compared with the 16 patent applications of 2021 (14 in 2020).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the end of 2022, the Telef&#243;nica Group had a portfolio of 344 active patents, 91 industrial designs and nine utility models, resulting in a portfolio of 444 registered intangible assets (421 as of December 31, 2021).</span></div><div style="text-indent:76.5pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Open Innovation</span></div><div style="text-align:justify;text-indent:76.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Wayra is Telef&#243;nica&#8217;s main Open Innovation program. It connects Telef&#243;nica and technological disruptors around the world. We seek to become their preferred strategic partner, with a view to accelerate their business and ours. Wayra offers a unique and smooth interface between entrepreneurs and our network of corporate, government and other partners, adding value to the ecosystems where we are present. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Wayra has eight physical hubs in Europe and Latin America serving nine countries. In 2020 Telef&#243;nica launched Wayra X, a 100% digital hub. In 2021 Wayra launched Wayra Builder, to capitalize on existing technology and talent </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">101</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and create our own startups from scratch, and Wayra Next Trend, to allow start-ups to connect with the consumer market.</span></div><div style="text-align:justify;text-indent:76.5pt"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to Wayra, Telef&#243;nica&#8217;s Connected Open Innovation family includes:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">Open Future, which is the Regional Open Innovation Strategy of Telef&#243;nica in partnership with public and private entities. Present in 30 hubs worldwide, we foster the development of the regional entrepreneurial ecosystems and support more than 800 startups. Our goal is to decentralize and democratize entrepreneurship.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">Open Innovation Campus, a new collaboration model with the academia, that helps connect Telefonica with young talent.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.73pt">Telef&#243;nica Ventures, which is Telef&#243;nica&#8217;s corporate venture vehicle for strategic investments. Telef&#243;nica Ventures aims to address the big challenges facing the telecommunications industry and create new businesses leveraging cutting edge technology. It invests, directly in startups or through a network of leading venture capital funds in key markets, to build strategic partners fully aligned with the Group&#8217;s global strategy.</span></div><div style="text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica launched Wayra in 2011. Since then, it has helped create and transform local entrepreneurship ecosystems in Europe and Latin America investing more than 65 million euros in more than 850 startups, contributing to the creation of more than 10,000 highly skilled jobs. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Wayra invested in 40 startups in Europe and Latin America in 2022, for a total amount of 5.7 million euros and had interests in more than 450 active startups by the end of 2022. Telef&#243;nica Ventures devoted more than 20 million euros to several strategic investments in 2022.</span></div><div style="text-align:justify;text-indent:76.5pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Through these various programs, Telef&#243;nica has invested in more than 1,000 startups, and more than 300 startups have worked with Telef&#243;nica and its customers, generating through some of their solutions more than 600 million euros in revenues for Telef&#243;nica.</span></div><div id="i2ad619f032b2435680b3f6486d100018_97"></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">D. Trend Information</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, inflation rates were significantly higher than normal, reaching four-decade highs in many countries, particularly in Europe. In Telef&#243;nica, we have been operating in high-inflationary environments for decades and feel we are better prepared to face this environment than others. To mitigate increasing costs, Telef&#243;nica is managing top line, OpEx and CapEx. On top line, Telef&#243;nica has relied on pricing power and inflation pass-through across its segments. On OpEx, Telef&#243;nica is managing operating expenses engaging in significant long-term hedging on energy prices and, overall, by focusing on cost efficiencies. On CapEx, Telef&#243;nica is benefiting from having made significant FTTH deployment ahead of the current inflationary environment, having passed the peak of investments in prior years, and also by developing new models for infrastructure investments, through which the company shares the effort with partners via fiber joint ventures.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, in 2022, the foreign exchange effect has positively affected Telef&#243;nica&#8217;s results, after several years of negative impacts, mitigating the effects of inflation in Europe and certain Latin American markets and changes in the consolidation perimeter.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has taken several steps designed to address recent trends (including increasing costs as a result of inflation and increased interest rates, the erosion of the Group&#8217;s traditional business and increased competition) and to face future uncertainties such as:  </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">First, while Telef&#243;nica has a long track record of generating cost efficiencies, we still have a long way to go in terms of digitalization and automation of sales channels and customer care, process improvements and modernization and rationalization of the network, such as switching from copper to fiber and legacy switch-off. In 2022, Telef&#243;nica has taken steps to hedge through long-term price agreements / power purchase agreements (PPAs), and intends to maintain a similar hedged ratio level of consumption for 2023 as in 2022. In 2023 we will have 71% of our energy needs hedged.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">102</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Second, the Company reduced costs with a redundancy program in Spain last year and intends to achieve cost efficiencies in 2023 due to the realization of synergies in the United Kingdom and Brazil, among other things. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Third, Telef&#243;nica believes telecom spending will be resilient to price increases as digitalization and digital communications become increasingly important, as experienced during the COVID-19 pandemic. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Fourth, in order to mitigate the intense competition in the markets where Telef&#243;nica operates, either through the entry of new competitors (either new players or providers of OTT Services), mergers of operators in certain markets (e.g. market consolidation in the United Kingdom following a potential merger of mobile operators Vodafone UK and Three UK) or changes in competitive dynamics in the different markets in Latin America, with aggressive customer acquisition offers, with unlimited data and discounts on certain services.  </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Lastly, we seek to diversify our revenue mix with adjacent businesses. These efforts include: </span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Solar 360, a joint venture of Repsol and Telef&#243;nica Spain, formed to develop a solar self-consumption business;</span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Movistar Prosegur Alarmas, a security joint venture formed by Prosegur and Telef&#243;nica Spain in September 2020; and </span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Vivo Ventures, a corporate venture capital fund created with Telefonica Open Innovation, through which Telef&#243;nica has committed to invest in the Brazilian "fintech" Klavi, to reinforce Telef&#243;nica's presence in the financial solutions sector. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 27, 2019 the Company presented the following strategic decisions, which continue to guide Telef&#243;nica's actions: </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Focus on our four key markets: Spain, Brazil, Germany and the United Kingdom (in-market consolidation with the creation of VMO2 in the UK).</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The creation of Telef&#243;nica Tech, the fast-growing technology company involving Cybersecurity &amp; Cloud Tech and IoT &amp; Big Data Tech, leveraging on strong capabilities to help customers digitally transform. During the past two years, Telef&#243;nica Tech has proactively reinforced its capabilities through acquisitions, including BE-terna Group and Incremental Group in 2022 and Cancom UK&amp;I, Altostratus and Geprom in 2021. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The creation of Telef&#243;nica Infra, which has focused on pursuing value creation opportunities in recent years, in line with the Group&#8217;s strategy of crystallizing the value of its infrastructure assets and capabilities and improving the competitive position of Telef&#243;nica&#8217;s operating business units by accelerating their FTTH rollout, while capturing future value upside from its infrastructure assets and co-investments. The creation of fiber vehicles or joint ventures to which certain assets and capabilities of the Group are transferred, and in which the Group typically retains minority interests (such as Bluevia in Spain, Onnet Fibra Colombia S.A.S in Colombia and nexfibre in the United Kingdom) in 2022, and the creation of UGG in Germany, FiBrasil in Brazil and InfraCo in Chile in 2021) has allowed for the monetization of part of the Group's assets and capabilities and the creation of growth opportunities, together with a pipeline of potential value-accretive infra deals.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Reduce exposure to Latin America with a new operational model and portfolio simplification, capturing growth opportunities and operational synergies and optimizing CapEx.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Simplify Telef&#243;nica's operating model overall.</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_100"></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">E. Critical Accounting Estimates</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_103"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">F. Non-GAAP Financial Information</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">103</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the measures expressly defined in the IFRS, the Group also uses a series of other measures for decision-making because they provide additional information useful to assess the Group&#8217;s performance, solvency and liquidity. These measures should not be viewed in isolation or as a substitute for the measures presented according to the IFRS. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The non-GAAP financial measures included in this Annual Report are operating income before depreciation and amortization (OIBDA), OIBDA-CapEx, OIBDA-CapEx excluding spectrum acquisitions, net financial debt, net financial debt plus leases, net financial debt plus commitments, net financial debt plus leases plus commitments and free cash flow. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating income before depreciation and amortization</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group companies. OIBDA is a commonly reported measure and is widely used among analysts, investors and other stakeholders in the telecommunications industry. However, it is not a measure expressly defined in the IFRS and therefore it may not be comparable to similar indicators used by other companies. OIBDA should not be considered as a substitute for operating income. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, the Group management uses the measure OIBDA margin, which is the result of dividing the OIBDA by the revenues. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table provides a reconciliation of our OIBDA to operating income for the periods indicated.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:66.249%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.883%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year ended December 31,</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,586&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,056&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,359)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,397)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,796)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating income before depreciation and amortization</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">13,498</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">21,983</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">12,852</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables provide a reconciliation of OIBDA to operating income for the Group and for each of the Group&#8217;s segments (and our former Telef&#243;nica United Kingdom segment) for the periods indicated.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:18.052%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.698%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating income </span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,862</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(85)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,284)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(109)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(143)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,184)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(389)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,965)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,274)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(468)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">315&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,359)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating income before depreciation and amortization</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,046</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,064</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,309</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,188</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">990</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(458)</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">13,498</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.699%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica United Kingdom</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating income </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,224</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">919</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">30</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,220</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(155)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">10,292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">56</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">13,586</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,153)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,918)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,873)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(356)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">297&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,397)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating income before depreciation and amortization</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,377</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">919</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,424</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,718</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">10,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(241)</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">21,983</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> Our former Telef&#243;nica United Kingdom segment was replaced by our new VMO2 segment on June 1, 2021. For additional information on this change and how segment information is presented in this Annual Report, see &#8220;Item 4. Information on the Company&#8213;History and Development of the Company&#8213;Business areas&#8221;. In particular, in the 2021 table, the &#8220;Telef&#243;nica United Kingdom&#8221; column reflects the results of such segment from January 1, 2021 until its elimination on June 1, 2021.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">104</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.326%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.698%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating income </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,431</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">263</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,363</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(124)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,056</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,157)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,295)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,369)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,799)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(218)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,796)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Operating income before depreciation and amortization</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,588</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,558</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,732</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,958</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">94</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(78)</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,852</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span><br/></span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The OIBDA of 2021 includes the gains on the sale of the towers divisions of Telxius, amounting to 6,099 million euros and from the establishment of VMO2, amounting to 4,460 million euros (see Note 4 to the Consolidated Financial Statements).</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">OIBDA-CapEx and OIBDA-CapEx excluding spectrum acquisitions </span></div><div style="padding-left:36pt"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OIBDA-CapEx is defined as operating income before depreciation and amortization, reduced by accrued capital expenditures, and OIBDA-CapEx excluding spectrum acquisitions is defined as operating income before depreciation and amortization, reduced by accrued capital expenditures excluding those related to spectrum acquisitions. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe that it is important to consider capital expenditures, and capital expenditures excluding spectrum acquisitions, together with OIBDA in order to have a more complete measure of the performance of our telecommunications businesses. For example, we believe that considering capital expenditures, and capital expenditures excluding spectrum acquisitions together with OIBDA provides useful information regarding both our performance during the year as well as the investments we made during such year in order to support our business going forward. As a result, we use these measures internally to track the performance of our business, to establish operating and strategic targets of the businesses of the Group and in our internal budgeting process. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, we believe that these measures provide useful information to investors and other stakeholders to allow them to better compare performance across telecommunications companies with business models that differ based on whether they obtain network access, IT and other infrastructure services by paying fees that would be reflected in OIBDA versus through the development of owned networks and infrastructures that would be reflected in capital expenditures. Furthermore, similar metrics are reported externally by other telecommunications companies, and investors and analysts often track and compare these measures across different telecommunications companies. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on our use of OIBDA-CapEx and OIBDA-CapEx excluding spectrum acquisitions, we consider such measures to be primarily performance measures.  While our primary liquidity measure is free cash flow, OIBDA-CapEx and OIBDA-CapEx excluding spectrum acquisitions also provide certain information regarding our liquidity given that they provide an indication of the resources generated by the operation of our business during the year, after deducting the investments we made during such year in order to support our business going forward.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Neither OIBDA-CapEx nor OIBDA-CapEx excluding spectrum acquisitions are measures expressly defined in IFRS, and therefore they may not be comparable to similar indicators used by other companies.  In addition, neither OIBDA-CapEx nor OIBDA-CapEx excluding spectrum acquisitions should be considered substitutes for operating income, the most comparable financial measure calculated in accordance with IFRS, or any measure of liquidity calculated in accordance with IFRS.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group management also uses the measures OIBDA-CapEx margin and OIBDA-CapEx excluding spectrum acquisitions margin, which is the result of dividing these measures by revenues.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the table below we provide a reconciliation of our OIBDA-CapEx and OIBDA-CapEx excluding spectrum acquisitions to operating income for the periods indicated. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">105</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:66.249%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.883%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year ended December 31,</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,586&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,056&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,359)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,397)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,796)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13,498</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">21,983</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,852</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Capital expenditures in intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,266)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,981)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,530)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Capital expenditures in property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,595)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,286)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4,289)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(5,861)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(7,267)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(5,819)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OIBDA-CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,637</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">14,716</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,033</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Spectrum acquisitions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">126&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,704&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">OIBDA-CapEx excluding spectrum acquisitions</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,763</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">16,420</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,206</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">106</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:174%">Net financial debt, net financial debt plus leases, net financial debt plus commitments and net financial debt plus leases plus commitments</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;As calculated by us, net financial debt includes:  </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:174%">(A)  adding the following liabilities: </span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">i. Current and non-current financial liabilities in our consolidated statement of financial position (which includes the negative mark-to-market value of derivatives), </span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ii. Other liabilities included in "Payables and other non-current liabilities" and "Payables and other current liabilities" (mainly corresponding to payables for deferred payment of radio spectrum that have an explicit financial component and supplier financing for customer financing of terminal sales), and   </span></div><div style="padding-left:36pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iii. Financial liabilities included in "Liabilities associated with non-current assets and disposal groups held for sale".   </span></div><div><span><br/></span></div><div style="margin-bottom:6pt;padding-left:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (B) subtracting the following amounts from the resulting amount of the preceding step:  </span></div><div style="margin-bottom:6pt;padding-left:49.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">   i. "Cash and cash equivalents",  </span></div><div style="margin-bottom:6pt;padding-left:49.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">   ii. "Other current financial assets" (which include short-term derivatives), </span></div><div style="margin-bottom:6pt;padding-left:49.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">   iii. Cash and other current financial assets included in "Non-current assets and disposal groups held for sale", </span></div><div style="margin-bottom:6pt;padding-left:49.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">   iv. The positive mark-to-market value of derivatives with a maturity beyond one year, </span></div><div style="margin-bottom:6pt;padding-left:49.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> v. Other interest-bearing assets (included in "Financial assets and other non-current assets", "Receivables and other current assets" and "Tax receivables" in our consolidated statement of financial position),</span></div><div style="padding-left:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">       vi. Mark-to-market adjustment by cash flow hedging activities related to debt, and </span></div><div style="padding-left:36pt;text-indent:22.5pt"><span><br/></span></div><div style="padding-left:36pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">vii. Fair value of derivatives adjustment used for the economic hedging of gross commitments related to employee benefits.</span></div><div style="padding-left:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2022, the classification of these derivatives within the Group's debt indicators has been revised, and these are now presented together with the "Net commitments related to employee benefits". This change in the presentation allows us to include in the same section the economic underlying and the derivative associated with the hedged risk. As a result, the effects on the underlying and the economic hedge are offset, avoiding distortions resulting from being registered under different headings, particularly at times of strong volatility, as has occurred in recent months compared to previous years. The totals of "Net financial debt plus commitments" and "Net financial debt plus leases plus commitments" are not affected by this presentation change. The new criteria has been applied retroactively, so the figures at December 31, 2021 have been restarted accordingly.</span></div><div style="padding-left:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">With respect to step (B)(v), "Financial assets and other non-current assets" includes derivatives, installments for the long-term sales of terminals to customers and other long-term financial assets, and "Receivables and other current assets" includes the customer financing of terminal sales classified as short-term. In 2022, other liabilities included in "Payables and other current liabilities" and other assets included in "Receivables and other current assets" of points (A)(ii) and (B)(v), respectively, have been reviewed, including non-material changes in the customer financing of terminal sales and the resulting changes have been applied retroactively to the net financial debt figures as of December 31, 2021.</span></div><div><span><br/></span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We calculate net financial debt plus leases by adding lease liabilities calculated under IFRS 16 (including those corresponding to the companies held for sale) to net financial debt and deducting assets from subleases. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We calculate net financial debt plus commitments by adding gross commitments related to employee benefits and the fair value of the derivatives used for the economic hedging of such commitments to net financial debt, and deducting the value of long-term assets associated with those commitments related to employee benefits and the tax benefits arising from the future payments of those commitments related to employee benefits. Gross commitments related to employee benefits are current and non-current provisions recorded for certain employee benefits such as termination plans, post-employment defined benefit plans and other benefits. </span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">107</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;We believe that net financial debt, net financial debt plus leases, net financial debt plus commitments and net financial debt plus leases plus commitments are meaningful for investors and analysts because they provide an analysis of our solvency using the same measures used by our management. We use them to calculate internally certain solvency and leverage ratios. Nevertheless, none of them as calculated by us should be considered as a substitute for gross financial debt as presented in the consolidated statement of financial position. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents a reconciliation of net financial debt, net financial debt plus leases, net financial debt plus commitments and net financial debt plus leases plus commitments as of December 31, 2022 and 2021 to the Telef&#243;nica Group&#8217;s gross financial debt as indicated in the consolidated statement of financial position. </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:73.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.124%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,290&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,059&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,005&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,020&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross financial debt</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">42,295</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(8,580)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,823)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,431)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and other current financial assets included in "Non-current assets and disposal groups held for sale" (see Note 30 to the Consolidated Financial Statements)</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Positive mark-to-market value of long-term derivative instruments </span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,772)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,668)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities included in "Payables and other non-current liabilities"</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">933&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,431&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities included in "Payables and other current liabilities"</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">635&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">402&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets included in "Financial assets and other non-current assets"</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,808)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,892)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets included in "Receivables and other current assets"</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(659)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(646)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current assets included in "Tax receivables"</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(250)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(123)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial liabilities included in "Liabilities associated with non-current assets and disposal groups held for sale" (see Note 30 to the Consolidated Financial Statements)</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mark-to-market adjustment by cash flow hedging activities related to debt</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,102&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value of derivatives adjustment used for the economic hedging of gross commitments related to employee benefits</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(322)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net financial debt</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">26,086</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">26,687</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,080&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,645&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net financial debt plus leases</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">34,166</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">35,332</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gross commitments related to employee benefits and associated economic hedging</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,272&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,291&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Value of associated long-term assets</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(94)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(104)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Tax benefits</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,626)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,281)</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net commitments related to employee benefits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,552</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,906</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net financial debt plus commitments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">30,638</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">30,593</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net financial debt plus leases plus commitments (*)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">38,718</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">39,238</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(*) Includes assets and liabilities considered to be Net financial debt plus leases plus commitments related to employee benefits for companies classified as held for sale (see Note 30 to the Consolidated Financial Statements).</span></td></tr></table></div><div style="margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">108</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Free Cash Flow</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group&#8217;s free cash flow is calculated starting from "Net cash flow provided by operating activities" as indicated in the consolidated statement of cash flows; deducting (Payments on investments)/Proceeds from the sale of investments in property, plant and equipment and intangible assets, net, adding the cash received from government grants, deducting dividends paid to non-controlling interests and payments of financed spectrum without explicit interest. The cash used to pay for commitments related to employee benefits (included in the Net cash flow provided by operating activities) is added back since it represents the payments of principal of the debt incurred with those employees. </span></div><div style="margin-bottom:9pt;margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe that free cash flow is a meaningful measure for investors and analysts because it provides an analysis of the cash flow available to protect solvency levels and to remunerate the parent company&#8217;s shareholders and other equity holders (which is why free cash flows do not consider payments to minority interests). The same measure is used internally by our management. Nevertheless, free cash flow as calculated by us should not be considered as a substitute for the various cash flows presented in the consolidated statements of cash flows. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the reconciliation between the Telef&#243;nica Group&#8217;s Net cash flow provided by operating activities as indicated in the consolidated statement of cash flows and the free cash flow for 2022, 2021 and 2020: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:65.664%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.029%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13,196</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,268</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,763</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Payments on investments)/Proceeds from the sale of investments in property, plant and equipment and intangible assets, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,020)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,164)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5,508)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Dividends paid to non-controlling interests</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(471)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(410)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(438)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments for commitments related to employee benefits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">963&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">844&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">853&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments of financed spectrum without explicit interest</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Free Cash Flow excluding lease principal payments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,581</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,430</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,562</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease principal payments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,787)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,782)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,996)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Free Cash Flow</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,794</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,566</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_106"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 6. Directors, Senior Management and Employees</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">109</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_109"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">. Directors and Senior Management</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022, our Board of Directors met 14 times. As of February 23, 2023, our Board of Directors had met </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">twice d</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">uring 2023. As of February 23, 2023, our directors, their respective positions on our Board and the year they were first appointed were as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:47.362%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.569%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.717%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Name</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Age</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">First Appointed</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Current Term Ends</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Chairman</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez (1)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2006</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Vice-Chairmen</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas (1)(2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1994</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez (1)(3)(6)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2007</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar (1)(4)(7)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Members</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix (1)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain (5)(6)(8)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Peter Erskine (1)(6)(7)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2006</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Carmen Garc&#237;a de Andr&#233;s (5)(4)(8)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco (5)(7)(8)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher (1)(4)(7)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233; (6)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho (1)(5)(7)(8)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2007</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2025</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola (4)(8)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2026</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez (6)(8)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2024</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1) Member of the Executive Commission of the Board of Directors.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2) Name or company name of the shareholder represented or that has proposed their appointment: CaixaBank, S.A.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3) Name or company name of the shareholder represented or that has proposed their appointment: Banco Bilbao Vizcaya Argentaria, S.A.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4) Member of the Audit and Control Committee.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(5) Member of the Regulation and Institutional Affairs Committee.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(6) Member of the Strategy and Innovation Committee.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(7) Member of the Nominating, Compensation and Corporate Governance Committee.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(8) Member of the Sustainability and Quality Committee.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Board Committees</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At February 23, 2023, the Committees of our Board of Directors and members thereof are as follows:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Executive Commission</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Board of Directors has expressly delegated all of its authority and power to the Executive Commission except as prohibited by the Spanish Corporation Act, under our Articles of Association, or under our Board Regulations. This Commission is made up of fewer directors and meets more frequently than our Board of Directors. The members of the Executive Commission are Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez (Chairman), Mr. </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Isidro Fain&#233; Casas, Mr. Jos&#233; Mar&#237;a Abril P&#233;rez, Mr. Jos&#233; Javier Echenique Landir&#237;bar, Mr. &#193;ngel Vil&#225; Boix, Mr. Peter Erskine, Mr. Francisco Javier de Paz Mancho, Mr. Peter L&#246;scher and Mr. Pablo de Carvajal Gonz&#225;lez, as Secretary. During 2022, the Executive Commission met 15 times and, as of the date of this Annual Report, had met </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">three</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> times in 2023.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">110</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Audit and C</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">ontrol Committee</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Audit and Control Committee functions are regulated by our bylaws, our Board Regulations and the Audit and Control Committee Regulations. The Audit and Control Committee has the primary objective of providing support to our Board of Directors in its supervisory and oversight functions, specifically having the following responsibilities:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To report to the shareholders at the General Shareholders&#8217; Meeting regarding matters raised therein for which it is responsible.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To submit to the Board of Directors proposals for the selection, appointment, re-election and replacement of the external auditor, as well as the terms and conditions of the contract therewith, and regularly obtain from such external auditor information regarding the audit plan and the implementation thereof, in addition to the preservation of its independence in the performance of its duties.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To supervise the risk control and management unit, the effectiveness of the Company&#8217;s internal control system, the internal audit and the systems for the management of financial and non-financial risks (including operational, technological, legal, tax, social, environmental, political, reputational and corruption-related risks), as well as to discuss with the external auditor the significant weaknesses in the internal control system detected during the audit.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To supervise the process of preparation and submission of regulated financial information and to ensure that the annual accounts submitted by the Board of Directors to the shareholders at the General Shareholders&#8217; Meeting are prepared in accordance with the legal provisions on accounting. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To establish and maintain appropriate relations with the external auditor in order to receive, for review by the Committee, information on all matters that could jeopardize the independence thereof, as well as any other matters related to the audit procedure, and such other communications as may be provided for in auditing legislation and in technical auditing regulations. In any event, the Audit and Control Committee must receive annually written confirmation from the external auditor of its independence vis-&#225;-vis the entity or entities directly or indirectly related thereto, as well as information regarding additional services of any kind provided to such entities by the external auditor, or by the persons or entities related thereto, pursuant to the legislation in force.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To issue on an annual basis, prior to the issuance of the audit report, a report stating an opinion regarding the independence of the external auditor. This report must in all cases include an opinion on the provision of the additional services referred to in the preceding paragraph.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To supervise the application of the general policy on the disclosure of economic/financial, non-financial and corporate information and communication with shareholders and investors, proxy advisers and other stakeholders, and to monitor the manner in which the Company communicates and engages with small and medium-sized shareholders, all with respect to those aspects within the purview of the Committee.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">To report to the Board of Directors in advance on all matters contemplated by law, the bylaws and the Regulations of the Board of Directors.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Any other powers granted to it under the Regulations of the Board of Directors.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Audit and Control Committee meets at least once per quarter and as many times as considered necessary. During 2022, the Audit and Control Committee met 12 times and, as of the date of this Annual Report, had met</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> twice</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2023. The members of the Audit and Control Committee are Mr. Peter L&#246;scher (Chairman), Mr. Jos&#233; Javier Echenique Landir&#237;bar, Ms. Carmen Garc&#237;a de Andr&#233;s and Ms. Mar&#237;a Rotondo Urcola. Our Board of Directors has determined that all the members of the Audit and Control Committee meet the requirements of an &#8220;audit committee financial expert&#8221; as such term is defined by the SEC.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nominating, Compensation and Corporate Governance Committee</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Nominating, Compensation and Corporate Governance Committee is responsible for, among other things, reporting to our Board of Directors with respect to proposals for the appointment, re-election and removal of directors, members of the Executive Commission and the other committees of our Board of Directors and top members of our management and management of our subsidiaries. In addition, the Nominating, Compensation and Corporate Governance Committee is responsible for proposing to the Board of Directors, within the framework </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">111</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">established in the bylaws, the compensation for the directors and reviewing it periodically to ensure that it is in keeping with the tasks performed by them, as provided in Article 36 of the Board Regulations, to propose to the Board of Directors, within the framework established in the bylaws, the extent and amount of the compensation, rights and remuneration of a financial nature, of the chairman, the executive directors and the senior executive officers of Telef&#243;nica, including the basic terms of their contracts, for purposes of contractual implementation thereof and to supervise compliance with the corporate governance rules in effect from time to time.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The members of the Nominating, Compensation and Corporate Governance Committee are Mr. Jos&#233; Javier Echenique Landir&#237;bar (Chairman), Mr. Peter Erskine, Mr. Peter L&#246;scher, Ms. Mar&#237;a Luisa Garc&#237;a Blanco and Mr. Francisco Javier de Paz Mancho. During 2022, the Nominating, Compensation and Corporate Governance Committee met 12 times, and as of the date of this Annual Report, it had met</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> twice </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Regulation and Institutional Affairs Committee</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Regulation and Institutional Affairs Committee was created in 2016 by merging the Regulation Committee and the Institutional Affairs Committee. The main objective of the Regulation and Institutional Affairs Committee is to monitor the main regulatory matters which affect us. Additionally, the Regulation and Institutional Affairs Committee acts as a communication and information channel between our management team and our Board of Directors concerning regulatory matters. Another responsibility is to review, report and propose to the Board of Directors the principles that are to govern the Group&#8217;s Sponsorship and Patronage Policy, to monitor such policy, and to individually approve sponsorships or patronages the amount or importance of which exceed the limit set by the Board and which require its approval.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The members of the Regulation and Institutional Affairs Committee are Mr. Francisco Javier de Paz Mancho (Chairman), Ms. Mar&#237;a Luisa Garc&#237;a Blanco, Ms. Carmen Garc&#237;a de Andr&#233;s and Mr. Juan Ignacio Cirac Sasturain. During 2022, the Regulation and Institutional Affairs Committee met 11 times, and as of the date of this Annual Report, the Committee had met </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">twice i</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">n 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Strategy and Innovation Committee</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2016, the Strategy Committee and the Innovation Committee merged into a new Committee, the so-called Strategy and Innovation Committee. Without prejudice to any other tasks granted to it under article 26 of the Regulations of the Board of Directors, the primary duty of this Committee is to support the Board of Directors in the analysis and implementation of the global strategy policy of the Telef&#243;nica Group. The Strategy and Innovation Committee is also responsible for advising and assisting in all matters regarding innovation. Its main object is to examine, analyze and periodically monitor the Group&#8217;s innovation projects, provide guidance and help ensure the implementation and development of innovation initiatives across the Group. The members of the Strategy and Innovation Committee are Mr. Peter Erskine (Chairman), Mr. Jos&#233; Mar&#237;a Abril P&#233;rez, Mr. Juan Ignacio Cirac Sasturain, Ms. Ver&#243;nica Pascual Bo&#233; and Ms. Claudia Sender Ram&#237;rez. The Strategy and Innovation Committee met 9 times during 2022, and as of the date of this Annual Report, it had met</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> twice</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Sustainability and Quality Committee</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Sustainability and Quality Committee is responsible for, among other things, reviewing the strategies and policies relating to Telef&#243;nica's "Responsible Business" policy and sustainability practices in the environmental and social areas, supervising the impact and risk analysis of its "Responsible Business" strategy and analyzing Telef&#243;nica Group's objectives, action plans and practices in the field of social and environmental responsibility. In addition, the Sustainability and Quality Committee seeks to ensure that the corporate culture is aligned with its purpose and values with transparency towards its stakeholders and, together with the Audit and Control Committee, knows of the process of reporting non-financial information in matters of social responsibility and sustainability.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The members of the Sustainability and Quality Committee are Ms. Mar&#237;a Luisa Garc&#237;a Blanco (Chairman), Mr. Juan Ignacio Cirac Sasturain, Ms. Carmen Garc&#237;a de Andr&#233;s, Mr. Francisco Javier de Paz Mancho, Ms. Mar&#237;a Rotondo Urcola and Ms. Claudia Sender Ram&#237;rez. During 2022 the Sustainability and Quality Committee met 10 times and, as of the date of this Annual Report, had met </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">twice </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Biographies of Directors</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez serv</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">es as the Chairman of our Board of Directors and Chief Executive Officer of the Company. He is currently Chairman of the Telef&#243;nica Foundation, trustee of the Profuturo Foundation and member of Board of Trustees of &#8221;la Caixa&#8221; Banking Foundation since February 2022. He is also member of the </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">112</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Advisory Council of SEAT, S.A. since March 2019 and Chairman of the Board of GSMA since February 2022. He is also member of the Board of Directors of VMED O2 UK Ltd. He began his career at Arthur Young Auditors in 1987. In 1988, he joined Benito &amp; Monjard&#237;n/Kidder, Peabody &amp; Co. In 1995, he joined Compa&#241;&#237;a Valenciana de Cementos Portland, S.A. (CEMEX) as head of the Investor Relations and Analysis department. In 1996, he was promoted to Chief Financial Officer in Spain, and in 1998, to Chief Administration and Financial Officer of CEMEX Group in Indonesia, headquartered in Jakarta, and he was appointed member of the Board of CEMEX Asia, Ltd. In February 1999 he joined the Telef&#243;nica Group as General Manager of Finance for Telef&#243;nica International, S.A. In September of the same year he was promoted to Chief Financial Officer of Telef&#243;nica. In July 2002, he was appointed Chairman and Chief Executive Officer of Telef&#243;nica Internacional, S.A.U.; in July 2006 General Manager of Telef&#243;nica Latin America, and in March 2009, Chairman of Telef&#243;nica Latin America. He has been the Chairman of Telef&#243;nica Europa since September 2011 and a member of Telef&#243;nica, S.A.'s Board of Directors since July 2006. Since September 2012 and until April 2016, Mr. &#193;lvarez- Pallete served as Chief Operating Officer. Since April 2016 he is the Chairman of our Board of Directors and Chief Executive Officer of the Company. In 2001, he was awarded as &#8216;CFO Europe Best Practices&#8217; at Mergers &amp; Acquisitions 2000 by CFO Europe Magazine, and in 2003 as Member of Merit at the Iberian-American Forum of the Carlos III Foundation. In 2007 he was awarded with the Gold Master of the Executive Management Forum and in 2011, he received the Personality of the Year in Economics Award granted by the Spanish newspaper &#8220;El Economista&#8221;. In 2013 the Spanish Telecommunication Engineers Association a</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">warded him with the Excellence Award of that same year, for his contribution to the development of telecommunications. In 2014, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete received Medalla Sorolla by the Hispanic Society of America and he was named &#8220;Innovative Corporate Leader of the Year&#8221; by the Latin Trade magazine and the magazine FastCompany included him in its "100 Most Creative People in Business 2014". In 2016, he was named the "Best CEO" in Spain by Forbes Magazine and the Consejo Superior de Deportes granted him the entry in the Royal Order of Merit Sports in the category of Bronze Medal. In 2019 he was granted with the Cross of Military Merit with white distinction, he received the "Manager of the Year" award in the Large Corporations category granted by the Asociaci&#243;n Espa&#241;ola de Directivos, and was chosen &#8220;Business Leader of the Year&#8221; by the Spain-US Chamber of Commerce. In 2020, he was awarded with the ECOFIN prize for "Financiero del A&#241;o" and the Spanish Marketing Association has named him "Lider Empresarial Impulso del Marketing". In 2021, he was appointed Honorary Ambassador of Leading Brands of Spain Forum. Mr. &#193;lvarez-Pallete holds a degree in Economics from the Complutense University in Madrid, also studied Economics at the Universit&#233; Libre i Belgique and holds an International Management Program (IMP) degree from the P</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">an-American Institute of Executive Business Administration (IPADE) and a Diplome of Advanced Studies (DEA) from the Department of Financial Economics and Accounting of the Complutense University of Madrid.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Isidro Fain&#233; Casas serves as Vice-Chairman of our Board of Directors. For over 40 years, Mr. Fain&#233; has worked in several financial institutions, including amongst others: Banco Atl&#225;ntico, S.A., (1964), Banco de Asunci&#243;n (Paraguay) (1969), Banca Riva y Garc&#237;a, S.A. (1973), Banca Jover, S.A. (1974), and Banco Uni&#243;n, S.A. (1978). In 1982, he joined "la Caixa" as Deputy Executive General Manager, subsequently taking on various positions of responsibility. In April 1991, he was appointed Deputy Executive Managing Director and in 1999 rose to General Manager of the bank, before becoming Chairman from June 2007 to June 2014. He was also a member of the Board of Directors of CaixaBank since 2000, presiding from 2011 until his resignation in 2016. Likewise, he was Chairman of Naturgy Energy Group, S.A. from September 2016 until February 2018. Furthermore, he served as Director of Suez, S.A. from 2014 to 2020. Mr. Fain&#233; is currently Chairman and Member of the Executive Commission of the Board of Trustees of the Fundaci&#243;n Bancaria Caixa d&#8217;Estalvis i Pensions de Barcelona la "Caixa&#8221;, Chairman of the Board and of the Executive Commission of Criteria Caixa, S.A.U. and of Caixa Capital Risc SGEIC, S.A., and Chairman of the Board of Directors of Inmo Criteria Caixa, S.A.U. He also serves as Special Advisor of the Bank of East Asia, and Chairman of the Spanish Confederation of Savings Banks (CECA) and of the World Savings Banks Institute (WSBI). Additionally, he is Deputy Chairman of the European Savings Banks Group (ESGB). He is currently the Chairman of the Spanish Confederation of Executives (CEDE) and of the Spanish Chapter of the Club of Rome. He is also Deputy-</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Chairman of the Royal Academy of Economic and Financial Sciences, Founder of the Financial Circle and a Trustee of the Museo Nacional del Prado Foundation and the Carlos Slim Foundation. He was also appointed Honorary Chairman of Naturgy Energy Group, S.A. in 2018 and was recognized with the Forbes 2018 Award for Philanthropy. Mr. Fain&#233; holds a Doctorate degree in Economics from the Universidad de Barcelona, a Diploma in Senior Management from IESE Business School and an ISMP certificate in Business Administration from Harvard University. He is a member of the Royal Academy of Economics and Finance and of the European Royal Academy of Doctorate Holders.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez serves as Vice-Chairman of our Board of Directors. From 1975 to 1982 he served as Financial Manager of Sociedad An&#243;nima de Alimentaci&#243;n (SAAL). Since then, and until he joined the Banco Bilbao Vizcaya Argentaria Group (BBVA), he was Financial Manager of Sancel-Scott Ib&#233;rica, S.A. In 1985 he joined Banco </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">113</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Bilbao, S.A. as Managing Director of Investment Corporate Banking. From January to April 1993, he was appointed Executive Coordinator of Banco Espa&#241;ol de Cr&#233;dito, S.A. In 1998, he became General Manager of the Industrial Group of BBV. In 1999, he was appointed member of the Executive Committee of the BBV Group. He has also been a member of the Board of Directors of Repsol, S.A., Iberia, S.A., Corporaci&#243;n IBV, Iberm&#225;tica, S.A., and Vice-Chairman of Bolsas y Mercados Espa&#241;oles, S.A. In 2002 he became Managing Director of the Wholesale and Investment Banking Division and a member of the Executive Committee of Banco Bilbao Vizcaya Argentaria, S.A. He is currently member of the Board of Directors of Arteche Lantegi Elkartea, S.A. He holds a degree in Economics from the University of Deusto (Bilbao, Spain) and he was professor of this University for nine years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Jos&#233; Javier Echenique Landir&#237;bar serves as Vice-Chairman of our Board of Directors. Mr. Echenique has been a Board Member and General Director of Allianz-Ercos as well as a General Director of BBVA Group, where he was responsible for wholesale business like Global Investment Banking or Global Corporate Banking among others. He has also been Member of the Board of Directors of Banco Sabadell, S.A. (Vice-Chairman), Repsol, S.A., Banco Guipuzcoano, S.A. (Chairman), Grupo Empresarial ENCE, S.A., ACS Servicios, Comunicaciones y Energ&#237;a, S.L., Sevillana de Electricidad, S.A., Hidroel&#233;ctrica del Cant&#225;brico, Metrovacesa and Abertis Infraestructuras, S.A. Mr. Echenique is currently Member of the Board of Directors of Telef&#243;nica Audiovisual Digital, S.L.U., ACS Actividades de Construcci&#243;n y Servicios, S.A., Dragados, S.L. and Calcinor, S.L. He is also member of the Advisory Board of Telef&#243;nica Espa&#241;a. He is also Trustee of the Novia Salcedo Foundation, a Board member of the Deusto Business School and a member of the McKinsey Advisory Council. He holds degrees in Economics and Actuarial Sciences from Basque Country University (UPV), where he was a professor of Social Security&#8217;s Quantitative Techniques of the Economic Sciences School of Bilbao for several years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. &#193;ngel Vil&#225; Boix serves as the Chief Operating Officer (COO) and as a Director of our Board of Directors. Previously, he served as the Chief Strategy and Finance Officer. Mr. Vil&#225; joined Telef&#243;nica in 1997. He held positions of Group Controller, CFO of Telef&#243;nica Internacional, S.A.U. Group Head of Corporate Development and Chief Financial and Corporate Development Officer. In 2015, he was appointed Chief Strategy and Finance Officer. Prior to joining Telef&#243;nica, he held positions at Citigroup, McKinsey&amp;Co, Ferrovial and Planeta. In the financial sector, he has served in the Board of directors of Banco Bilbao Vizcaya Argentaria (BBVA) and on the Advisory Panel of Macquarie MEIF Infrastructure funds. In the TMT sector, he was Chairman of Telef&#243;nica Contenidos, Vice-Chairman of Telco Spa (Italy) and Board member of Endemol, Digital+, Atento, Telef&#243;nica Czech, CTC Chile, Indra SSI and Terra Lycos. Institutional Investor nominated &#193;ngel Vil&#225; as the Best CFO in European Telecoms in 2015. He was also honored with the Thomson Reuters Extel Pan-European Awards as No.1 CFO in Spain both in 2013 and 2014, as well as No.1 CFO for Telecommunications in Europe in 2014. He currently is member of the Advisory Boards of Telef&#243;nica Espa&#241;a and Telef&#243;nica Tech, and a Trustee of the Telef&#243;nica Foundation. He is also member of the Board of Directors of VMED O2 UK Ltd. Mr. &#193;ngel Vil&#225; holds an MBA from Columbia Business School where he studied with a Fulbright La Caixa fellowship. Prior to Columbia University, he graduated in Industrial Engineering from Universitat Polit&#232;cnica de Catalunya in Barcelona.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Juan Ignacio Cirac Sasturain serves as a Director of our Board of Directors. Mr. Cirac began his career as full professor at the Applied Physics Department of Castilla La Mancha University. In 1996, he tutored at Institut f&#252;r Theoretische Physik of Leopold Franzens Univesit&#228;t Innsbruck, until 2001. In 2001, Mr. Cirac became Director of the Theory Division of Max-Planck Institut f&#252;r Quantenoptik, a member of the Max Planck Society. Since 2002, he held the title of Honorarprofessor at Technical University of Munich. He has also served on advisory boards and scientific committees of several international research centers in the United States (Harvard, MIT), Asia (Kyoto, Tsinghua, Singapore) and Europe (Switzerland, Russia), as well as the BBVA Foundation, among other activities. He has also been a member of the Editorial Board of several national and international Physics journal</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">s and i</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">s the founder and editor of the journal</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Quantum Information and Computation</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Since 2021, he is member of the Advisory Board of Telef&#243;nica Tech. He is also member of the Security Advisory Board of Telef&#243;nica Ingenier&#237;a de Seguridad and member of the Scientific Committee of L</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a Caixa Foundation</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Since 2019, he is Co-Director of the Munich Quantum Science and Technology Center. Since 2016, Mr. Cirac is a Director of International Max-Planck Research School Quantum Science and Technology. He has received se</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">veral awards, such as the Hamburg Prize for Theoretical Physics, the Medal of Honor of Fundaci&#243;n Garc&#237;a Cabrerizo or the Wolf Prize in Physics. He holds a degree in Theoretical Physics from Universidad Complutense de Madrid as well as a Ph.D. in Physics from this university. He is specialized in Theoretical Quantum Optics, Quantum Computing and Quantum Communication.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Peter Erskine serves as a Director of our Board of Directors. He began his career in the field of marketing in Polycell and in Colgate Palmolive. He worked for several years at the Mars Group, serving as Vice-Chairman for Europe of Mars Electronics. In 1990, he was appointed Vice-Chairman of Marketing and Sales of Unitel. From 1993 to 1998, he held a number of senior positions in BT, including Director of BT Mobile and President and Chief Executive Officer of Concert. In 1998, he was appointed Managing Director of BT Cellnet. Subsequently, in 2001, he </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">114</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was appointed Chief Executive Officer and a Director of the Board of Directors of O2 Plc (now Telef&#243;nica Europe, Plc). In 2006, he became Executive Chairman of Telef&#243;nica Europe, Plc (until December 31, 2007, after which he became a Non-Executive Director). In January 2009, he joined the Board of Ladbrokes Plc. as a Non-Executive Director until December 2015, becoming Chairman in May 2009. He stood down from the Board in December 2015, having taken a lead role in the merger of Ladbrokes Plc with Gala Coral Group. He was a member of the Supervisory Board of Telef&#243;nica Deutschland Holding AG since 2016 until December 31, 2021, and member of the Board of Directors of VMED O2 UK Ltd since June 2021. He also chairs the charity Brainstorm which is focused on funding research into brain tumors. Mr. Erskine holds a degree in Psychology from Liverpool University and an Honorary Doctorate from the University of Reading.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ms. Carmen Garc&#237;a de Andr&#233;s serves as a Director of our Board of Directors. Ms. Garc&#237;a joined PricewaterhouseCoopers (Coopers &amp; Lybrand Legacy) in 1985, where she held several positions. Thereafter, she held various leadership positions at Landwell -Abogados y Asesores Fiscales as well as at PwC. She has been representative of the Spanish brand at the International Specialist Group in Indirect Taxation for more than six years. Between 2004 and 2007, she was the Managing Partner of the Gran Consumo, Distribuci&#243;n, Industria y Servicios Group of Madrid with more than 30 experts in legal and taxation areas, and responsible for the Diversity Program, Women in PwC between 2005 and 2007. She has been member of the Trust of the Young Business Spain Foundation and Board member of the collective initiative Juntos por el empleo de los m&#225;s desfavorecidos. She has been member since 2006 of the Trust of Tomillo Foundation, and in March 2008 became the Managing Director of this non-profit institution and its Executive Chairwoman in 2014. She is Treasurer of the Asociaci&#243;n Espa&#241;ola de Fundaciones (AEF), member of the Trust of Secretariado Gitano, Somos F5 and Xavier de Salas Foundations and co-founder and member of the Trust of "Aprendiendo a ser" Foundation since December 2018. She holds a degree in Economic and Business Sciences from the Comillas Pontifical University, ICADE. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco serves as a Director of our Board of Directors. Ms. Garc&#237;a began her career in 1992 as a state attorney (abogado del estado). In 2002, she was appointed Deputy Director-General of Constitutional Law and Human Rights and state attorney-Head of the Constitutional Law and Human Rights Department as well as Agent of the Kingdom of Spain before the European Court of Human Rights. As Agent of the Kingdom of Spain she managed and coordinated the Spanish delegation composed of representatives from various Spanish Ministries and represented the Kingdom of Spain before various UN Committees in nonjudicial proceedings and individual claims and before the European Court of Human Rights (TEDH) in individual claims. As state attorney serving at the Constitutional Court, she has been involved in constitutional law proceedings such us claims for unconstitutionality and jurisdictional conflicts, appeals for protection of constitutional rights and other issues of unconstitutionality. Among other activities, she has been the Secretary of the Board of Directors of Sociedad Estatal de Infraestructuras Agrarias del Norte (SEIASA DEL NORTE) and, from 1999 to 2010, of its Audit and Control Committee. From 2010 to 2013, she served as a Director of Sociedad Estatal de Infraestructuras Agrarias (SEIASA). She served as a Director of Sociedad Estatal de Aguas de la Cuenca del Norte (ACUANORTE) between 2010 and 2013, and of Sociedad Estatal de Aguas de las Cuencas de Espa&#241;a (AcuaEs) between 2012 and 2013. Furthermore, she has been involved in coordination and cooperation activities for the promotion and defense of human rights in Uruguay (2006), Colombia (2007 and 2008), Chile (2009) and Guatemala (2010). Additionally, in 2006 she was awarded with the Cross of Honor of the Order of St. Raymond of Penyafort. In October 2013 she left her position as state attorney and she is currently a partner at the law firm Salama Garc&#237;a Blanco, SLP, which focuses on administrative, constitutional law, civil and commercial litigation, and arbitration matters, and provides legal advice to credit institutions. In 2014, she was appointed as Corresponding Member of the Royal Academy of Jurisprudence and Legislation. Since 2021, she is member of the Advisory Board of Telef&#243;nica Espa&#241;a. She is currently Director of Ibercaja Banco, S.A., member of the CIMA Governance and Control Committee and President of the Committee of Experts of 65YMAS.COM. She holds a law degree from the University of Cordoba (Spain).</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Peter L&#246;scher serves as a Director of our Board of Directors. Mr. L&#246;scher was the President of Global Human Health and a member of the Executive Board of Merck &amp; Co., CEO of GE Healthcare Bio &#8211; Sciences and a member of GE&#8217;s Corporate Executive Council. He was also COO and a member of the Board of Amersham Plc. He held a senior leadership position in Aventis and Hoeschst.  Mr. L&#246;scher is former Chairman of the Supervisory Board of OMV AG, Austria. From 2014 to 2016, he was the CEO of Renova Management AG. In the past, he was also a member of the Supervisory Board of Deutsche Bank AG and Chairman and CEO of Siemens AG, among others, and until April 2022 Chairman of the Board of Directors of Sulzer AG. Since April 2020, he is Chairman of the Supervisory Board of Telef&#243;nica Deutschland Holding AG, member of the Supervisory Board of Philips, member of the Board of Thyssen-Bornemisza Group AG, Switzerland, and a non-executive member of the Board of Directors of Doha Venture Capital LLC, Qatar. He is also Honorary Professor at Tongi University Shangai and he holds the Grand Decoration of Honor in Gold of the Republic of Austria, the Order of Friendship of the Russian Federation </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">115</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and is a Knight Commander of the Order of Civil Merit of Spain. Mr. L&#246;scher studied Economics at Vienna University of Economics, where he also received his MBA, and Business at the Chinese University of Hong Kong. He completed the Advanced Management Program (AMP) at Harvard Business School and an Honorary Doctorate of Engineering from Michigan State University and is a Doctor Honoris Causa of Slovak University of Engineering in Bratislava.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ms. Ve</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">r&#243;nica Pascual Bo&#233; serves as a Director of our Board of Directors. Ms. Pascual began her professional career at the international level in the strategic management department of Human Resources of the multinational industrial group Bouygues. In 2004, she joined the family firm ASTI, where she held different positions in the management of this company (technical management and sales management departments). At the end of 2006, she was appointed General Manager and in 2008 she decided to acquire the company. She has previously held various positions, including: Promoter and Founder of Burgos Digital Innovation Hub, through ASTI of DIHBU (2018); President of the Industry Working Group 4.0 of the Castile and Leon Government (2016-2018); President of the Industry Committee 4.0 and Vice President of Talent Development of AMETIC (2016-2018); Member of the Advisory Council of the Quality Agency of the University System (2015-2016); Member of the Advisory Council of EAE Business School (2015-2016); Member of the Governing Council of APD Castile and Leon (2014-2015); Member of the Board of Directors of Empresa Familiar Castile and Leon (2001-2013). Ms. Pacual is an entrepreneur who has led during 18 years a group of companies involved in digital transformation headed by ASTI Mobile Robotics Group, a company with affiliates in Spain, France, Germany, and the United States, engaged in the supply of autonomous vehicle systems for the automation of industrial processes in sectors such as the automotive, food, cosmetics, pharmaceuticals, and retail. Ms Pascual also Chairs the ASTI Tecnolog&#237;a y Talento Foundation and is also a Director of the company General Alquiler de Maquinaria, S.A. (GAM). Since August 2021, ASTI Mobile Robotics has been integrated into ABB Robotics and Ms. Pascual has moved to the position of Global Manager of Rob&#243;tica M&#243;vil Aut&#243;noma until January 2023. She currently leads her family office, ALBP Corp, one of whose main objectives is the investment in technology-based projects. In addition, she is member of the Advisory Board of Telef&#243;nica Tech. Ms. Pascual has a degree in Aeronautical Engineering from the Polytechnic University of Madrid, a Master in Business Administration (MBA) from the College des Ingenieurs de Paris and an Executive Master in Positive Leadership and Strategy (EXMPLS) from IE Business </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">School. She also has several postgraduate qualifications from INSEAD, Stanford, and Harvard Business School. </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Francisco Javier De Paz Mancho serves as a Director of our Board of Directors. From 1984 to 1993 he was the General Secretary of Juventudes Socialistas and a member of the PSOE Executive. From 1990 to 1993, he was general secretary of the Spanish Consumers Association (Uni&#243;n de Consumidores de Espa&#241;a, UCE). From 1993 to 1996, he served as General Manager of Internal Trade of the Spanish Ministry of Tourism and Commerce and Director of Tabacalera, S.A. From 1994 to 1996, he was Chairman of the Observatory of Trading of the Spanish Ministry of Tourism and Commerce (Observatorio de la Distribuci&#243;n Comercial del Ministerio de Comercio y Turismo); from 1996 to 2004, he was Corporate Strategy Manager of the Panrico Donuts Group and Deputy Chairman. From 1998 to 2004, he served as Director of Mutua de Accidentes de Zaragoza (MAZ). From 2004 to 2006, he was Director of Tunel de Cad&#237;, S.A.C. and from 2003 to 2004, he served as Chairman of the Patronal Pan y Boller&#237;a Marca (COE). From 2004 to 2007, he was Chairman of the National Company MERCASA. He has also been a member of the Board of Directors  of the Economic and Social Board and its Permanent Commission. From July 2006 to November 2014, he was a member of the Executive Committee of the Chambers Board (Consejo Superior de C&#225;maras) and from 2008 to 2012 he was the Chairman of Atento Inversiones y Teleservicios, S.A.U. From July 2016 to December 2021 he was the Chairman of Telef&#243;nica Ingenier&#237;a de Seguridad, S.A.U. From April 2018 to April 2021 he was Director of Telef&#243;nica M&#243;viles de Argentina, S.A. From July 2020 to May 2021 he was Director of Pegaso PCS, S.A. de C.V. (Mexico). From September 2016 to July 2020, he was Director of Telef&#243;nica M&#243;viles M&#233;xico, S.A. Currently, he is Director of Telef&#244;nica Brasil, S.A. and of Telef&#243;nica Audiovisual Digital, S.L.U. and member of the Advisory Boards of Telef&#243;nica de Espa&#241;a and Telef&#243;nica Hispanoam&#233;rica. Mr. de Paz has a diploma in Publicity and Information and undertook studies in Law. He completed a Programa de Alta Direcci&#243;n de Empresas from the IESE Business School (Instituto de Estudios Superiores de la Empresa, University of Navarra).</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Francisco Jos&#233; Riberas Mera serve</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">s as a Director of our Board of Directors. He started his professional career at the Gonvarri Group, where he became Director of Corporate Development and Chief Executive Officer. Mr. Riberas has been the Chief Executive Officer of Gestamp Automoci&#243;n since its incorporation. He has been member of the Board of Directors of General de Alquiler de Maquinaria, S.A. (GAM) and Chairman of Endeavor Foundation in Spain. Currently, Mr. Riberas is the Executive Chairman of Gestamp Automoci&#243;n. He also serves as a member of the management team of certain companies of the Gestamp Group and the ACEK Group, including companies belonging to the Groups Gonvarri, Acek Renewables Energy and Inmobiliaria Acek. He also serves as a member of the Board of Directors of CIE Automotive and Wallbox, N.V. Furthermore, he is Chairman of SERNAUTO </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">116</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Asociaci&#243;n Espa&#241;ola de Proveedores de Automoci&#243;n) and Foundation Consejo Espa&#241;a-China. Mr. Riberas holds a Degree in Law (1987) and in Economics and Business Administration (1988) from Comillas Pontifical University (ICADE E-3).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ms. Mar&#237;a Rotondo Urcola serves as a Director of our Board of Directors. From 1989 to 2006 she was an Investment Analyst specializing in various sectors, particularly in the telecommunications sector, Macroeconomist, and Head of Equity Research Europe, at Santander Investment Sociedad de Valores y Bolsa. From 2006 to 2016, she was Global Head of the Telecommunications, Media and Technology at Santander Global Banking and Markets. From 2017 to 2020 she was an independent Director of Indra. She has also served on the Advisory Board of Instituto de Empresa (IE) "Transformation with Purpose", and of Hotelab. She is currently an independent Director of CACEIS Bank Spain, SANTANDER CACEIS LATAM HOLDO (since 2019) and Libertas 7 (since 2021). She also participates in the Advisory Board of Top Boards-Headspring (Financial Times - Instituto de Empresa) (since 2017). Ms. Rotondo teaches Capital Markets at the Instituto de Consejeros y Administradores (ICA), and Special Operations Communication in the Master Investor Relations at Bolsas y Mercados (BME). She is also Co-Director and professor in the Sustainability Programme at the Instituto de Empresa (IE) SYCA, where she teaches classes on corporate governance and sustainability. She has also been an internal trainer at Banco Santander, as well as a speaker at various forums and collaborates with several publications (Fide Monedas digitales in 2020, Gaptel, Telos, El Economista, others). Among the awards received, the most noteworthy are the following: Finalist 2016 TMT Finance EMEA, Best Corporate Finance Deal (OPA Orange-Jazztel); 1999-2002 Reuters-Institutional Investor, 1 and 3 Ranked European Telecom Analyst; 2001 Footsie- Actualidad Econ&#243;mica, 1 Ranked analyst all sectors in Spain 2001; 2000 Institutional Investors, First Equity Research team in Spain by Institutional Investors; and 1997 Vallehermoso Award, 1 Real Estate Analyst (Ladrillo de Oro 1997). Ms. Rotondo has a degree in Economics and Business Administration from the Complutense University of Madrid. She has received complementary training at various Institutions such as ESG Academy/Foretica, IESE, IC-A, EEC, IMD, NYU, Harvard, Boston College, among others.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ms. Claudia Sender Ram&#237;rez serves as a Director of our Board of Directors. She has held various positions in, among others, the following companies: (i) Director of Yduqs University (formerly known as Est&#225;cio) (2019-2021) (ii) Latam Airlines Group where she served as Vice President, Chief Customer Officer (2017-2019), CEO of LATAM Brazil (2013-2017), Vice President of LATAM Brazil (2011-2013); (iii) Whirlpool, S.A. where she served as Vice President of Marketing (2009-2011), Divisional Director of Marketing (2007-2009), and Director of Strategic Planning (2005-2007); and (iv) Bain &amp; Company Brazil where she served as a consultant specialising in Strategy (1998-2005). Currently, Ms. Sender is a Director of LafargeHolcim Ltd (since 2019); Director of Gerdau, S.A. (since 2019); Director of Amigos do Bem (since 2017), a Brazilian NGO dedicated to the eradication of poverty in the Northwest of Brazil; Director of Embraer, Empresa Brasileira de Aeron&#225;utica, S.A. (since 2021); and Director of Metal&#250;rgica Gerdau, S.A. (since 2021). In addition, she is member of the Advisory Board of Telef&#243;nica Tech and Telef&#243;nica Hispanoam&#233;rica. Ms. Sender has a degree in Chemical Engineering from the Polytechnic School of the University of S&#227;o Paulo, and an MBA from Harvard Business School in Boston.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Terms and Conditions of Executive Directors' Contracts</span></div><div style="margin-bottom:5pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contracts signed with the Executive Directors are for an indefinite term and include a non-competition clause. This clause implies that, once the relevant contract has been terminated and during the valid term of the clause (two years after the termination of the contract for any reason), the Executive Directors may not indirectly or directly render their services themselves or through others, either on their own behalf or through third parties, to Spanish or foreign companies that engage in the same or similar business activities as the Telef&#243;nica.</span></div><div style="margin-bottom:5pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the conditions related to the termination of the contracts, the Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, and the Chief Operating Officer (&#8220;Consejero Delegado&#8221;), Mr. &#193;ngel Vil&#225; Boix, have the same terms and conditions as in their previous contracts, which specify agreed severance pay for termination of the relationship, when appropriate, which may amount to a maximum of four annual payments. Each annual payment consists of the last fixed remuneration and the arithmetic mean of the sum of the last two amounts of the annual variable remuneration paid pursuant to the contracts.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contracts that currently regulate the performance of the Executive Directors&#8217; duties and responsibilities are of a commercial nature and include clauses that are included in these kinds of contracts in normal practice. These contracts have been proposed by the Nominating, Compensation and Corporate Governance Committee and approved by the Board of Directors.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the prior notice and severance pay conditions explained in the previous point, a summary is provided </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">117</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">below of the main terms and conditions of the Executive Directors&#8217; contracts:</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">118</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:6pt;margin-top:5pt;text-align:justify;text-indent:22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:85.233%"><tr><td style="width:1.0%"></td><td style="width:17.253%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:80.547%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Executive Chairman and Chief Operating Officer</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Term</span></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Indefinite</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Prior notice</span></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">There is an obligation to provide prior notice in the event of the contract being terminated due to a unilateral decision adopted by the Executive Director, being stipulated that he must notify the unilateral decision in writing with at least three months&#8217; prior notice, except in cases of force majeure. If this obligation is not fulfilled, he must pay the company an amount equivalent to the Fixed Remuneration for the period of prior notice not observed.</span></div></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exclusivity</span></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The contracts prohibit during the term thereof the signing (whether directly or through intermediaries) of any employment, commercial or civil contracts with other companies or institutions that engage in activities similar in nature to those of Telef&#243;nica.</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-competition clause</span></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The contract states the relationship is compatible with holding representative, administrative and management posts and other professional positions in other companies in the Telef&#243;nica Group or in any other undertakings unrelated to the company when expressly notified to the Nominating, Compensation and Corporate Governance Committee and the Board of Directors. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In addition, it states that the relationship is incompatible, during the term of the clause (two years after the termination of the contract for any reason) with directly or indirectly rendering services, on an employed or self-employed basis, by themselves or through third parties, to any Spanish or foreign companies that engage in activities identical or similar to those of Telef&#243;nica.</span></div></td></tr><tr><td colspan="3" style="border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Confidentiality</span></td><td colspan="3" style="border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">While the relationship remains in force and also after the termination thereof, there is a duty of confidentiality regarding any information, data and any kinds of reserved and confidential documents they have knowledge of or to which they have had access as a result of holding their positions.</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Compliance with the regulatory system</span></td><td colspan="3" style="border-bottom:1pt solid #000000;border-left:1pt solid #000000;border-right:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The contracts include the obligation to abide by the rules and obligations set out within Telef&#243;nica&#8217;s regulatory system, which are contained, among other regulations, in the Board of Directors Regulations and Telef&#243;nica&#8217;s Internal Stock Market Conduct Regulations.</span></td></tr></table></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Executive Officers/Management Team</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At Februa</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ry 23, 2023, our</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> executive management team consisted of the following individuals:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:27.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.290%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.077%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Name</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Position</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Appointed</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Age</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chairman of the Board of Directors and Chief Executive Officer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2016</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Operating Officer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2017</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Pablo de Carvajal Gonz&#225;lez</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General Secretary, Secretary of the Board of Directors and Director Global of Regulation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2018</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Laura Abasolo Garc&#237;a de Baquedano</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Finance and Control Officer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Eduardo Navarro de Carvalho</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Corporate Affairs and Sustainability Officer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">60</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Mark Evans</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Strategy and Development Officer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Juan Francisco Gallego Arrechea</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General Manager of Internal Audit</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2016</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">56</span></td></tr></table></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Biographies of the Executive Officers and Senior Management</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We present below the biographies of our executive officers and senior management who do not also serve on our Board of Directors.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Pablo de Carvajal Gonz&#225;lez serves as the General Secretary, Secretary of the Board of Directors of Telef&#243;nica and Director Global of Regulation. He is also a member of the Executive Committee of Telef&#243;nica. From 1988 to 1989, he worked as legal counsel for La Uni&#243;n y el F&#233;nix Espa&#241;ol, Compa&#241;&#237;a de Seguros y Reaseguros, S.A. In April 1991, he was appointed state attorney (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">abogado del Estado</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) until December 1999, when he became legal counsel of Jazz Telecom, S.A. In March 2000, he became secretary of the Board and head of the legal department of Yacom Internet Factory, S.A.  Since June 1, 2001, he has been the General Secretary and Secretary of the Board of Directors of Telef&#243;nica de Espa&#241;a, S.A. and, since April 2013, also Director of Regulation. He holds a law degree the Universidad Complutense de Madrid and a Master's degree in European law from the Free University of Brussels.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ms. Laura Abasolo Garc&#237;a de Baquedano is the Chief Finance and Control Officer of Telef&#243;nica, S.A. In addition, she is Head of Telef&#243;nica Hispam, Director of VMED O2 UK Ltd. and Member of the Advisory Board of Hispam and Telef&#243;nica Espa&#241;a. She started her professional career at Goldman Sachs International, in the area of Investment Banking in Europe. She joined Telef&#243;nica in 1999 as the Management Control Officer at Terra Networks, S.A., where she was also a member of the Executive Committee. In July 2005, she assumed the role of Management Control Officer at Telef&#243;nica, S.A. and in December 2007, she became Planning, Budgets and Management Control Officer. In March 2014, she joined the Executive Committee of Telef&#243;nica, S.A. and also assumed the responsibility for the Simplification Office. In 2016, she became responsible for the Consolidation and Accounting Policies, and Tax divisions of the company. In July 2017, she is appointed Chief Finance and Control Officer of Telef&#243;nica, S.A. In February 2020, she was appointed Chief of the Procurement and Supply Chain division and the Corporate Development division, holding this last position until September 2021. She holds a Degree in Economics and Business Administration from Deusto Business School and an MBA in International Businesses by the Norwegian School of Economics and Business Administration. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Eduardo Navarro de Carvalho is the Chief Corporate Affairs and Sustainability Officer Telef&#243;nica, S.A. He began his career as an engineer in the Brazilian operation of ARBED, a steel and iron producer. Before joining the Telef&#243;nica Group, he was a consultant at McKinsey &amp; Co., where he led Telecommunications and Infrastructure projects in Latin America, Europe and Africa. Eduardo joined Telef&#243;nica in 1999, as Vice-President of Corporate Strategy and Regulatory Affairs for Telef&#243;nica Brazil. Before assuming his current position, Eduardo was President and CEO of Telef&#244;nica Brasil | Vivo; before that Eduardo held key global positions in the Telef&#243;nica Group, including Chief Commercial Digital Officer (CCDO) and Director of Strategy and Business Development. He was also Director of Strategic Planning and Regulatory Affairs for Telef&#243;nica Internacional. Eduardo holds a Metallurgical Engineering degree from the Federal University of Minas Gerais, Brazil.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Mark Evans is the Chief Strategy and Development Officer of Telef&#243;nica, S.A. He joined the Executive Committee of Tel&#233;fonica on August 1, 2016, holding the role of Chief Executive Officer of Telefonica UK (O2) through to June 1, 2021. A time at which the business grew to become the UK&#8217;s largest mobile provider whilst delivering five years of consecutive profit growth and market leading customer satisfaction. Previously he was Chief Financial Officer for Telefonica UK, a position he held since January 2012. Prior to joining Telef&#243;nica, he held a number of senior positions within the Vodafone Group including Global Technology CFO, UK CFO and Ireland CFO and prior to joining Vodafone he held the role of Group Financial Controller for ntl. Mark was Chairman of Tesco Mobile, the largest Mobile Virtual Network Operator in the UK, a joint venture of Tesco Plc and Telef&#243;nica. He gained a Chartered Management Accounting qualification (ACMA) and was educated at Southampton Solent University.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Juan Francisco Gallego Arrechea is the General Manager of Internal Audit of the Telef&#243;nica Group since 2016. He began his career in Arthur Andersen, where he specialized in audit and financial consulting for business groups. In June 2000, he joined the Telef&#243;nica Group working as Director of Consolidation and Accounting Policies and serving, from 2009, as Chief Accounting Officer. Mr. Gallego is a speaker and a member of work teams in several master programs, conferences and courses on the matter of audit, consolidation and accounting practices held by regulators, private institutions and universities. He is currently Director and Chairman of the Audit Committee of the Institute of Internal Auditors of Spain. He obtained a degree in Economic Science at Universidad Complutense in Madrid.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">120</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_112"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Compensation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Note 29.g and Appendix II to our Consolidated Financial Statements for information on the compensation paid to members of our Board of Directors and Executive Officers/Senior Management Team during the year 2022.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Incentive Plans</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Note 27 to our Consolidated Financial Statements.</span></div><div id="i2ad619f032b2435680b3f6486d100018_115"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Board Practices</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see &#8220;&#8212;Directors and Senior Management&#8221; above.</span></div><div id="i2ad619f032b2435680b3f6486d100018_118"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">D. Employees</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see &#8220;Headcount&#8221; in Note 26 to our Consolidated Financial Statements.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2021, Telef&#243;nica Spain signed a Social Pact for Employment supported by the largest trade unions. Said Pact includes the Company&#8217;s differential commitments and is based on the following six lines of work:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (1) equality and diversity;</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (2) new ways of working, flexibility and productivity;</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (3) incorporation and retention of talent; </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4) reskilling and professional development; </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(5) functional and geographical mobility; and </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(6) a plan for the voluntary individual suspension of the employment relationship (the Individual Suspension Plan).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The present value of the estimated payment flows resulting from the Plan resulted in expenses amounting to 1,382 million euros before taxes in 2021, reflected in "Personnel expenses" (see Note 2 to the Consolidated Financial Statements).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_121"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">E. Share Ownership</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At February 23, 2023, the following members of our Board of Directors beneficially owned directly or indirectly an aggregate of </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">17,066,508 s</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">hares, representing approximately </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.296% of</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> our capital stock.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">121</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:39.309%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.494%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.231%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Name or corporate name of director &#160;</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of direct voting rights</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of indirect voting rights</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% of total<br/>voting rights</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,168,658&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.038&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">734,460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.013&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">374,529&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">466,378&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.015&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">237,125&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62,758&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.005&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">624,332&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.011&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Peter Erskine</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46,189&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.001&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Carmen Garc&#237;a de Andr&#233;s</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">869&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,127&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.001&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">179,453&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.003&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233;</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">80,270&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.001&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,014,980&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.208&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39,380&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.001&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #969696;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At February 23, 2023, members of our executive management team (excluding members of our Board of Directors listed above) beneficially owned an aggregate of </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">914,696</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of our shares, representing approximately</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 0.016% </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of our capital stock.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">None of our directo</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">rs or executive officers beneficially owned shares representing one percent or more of our share capital at February 23, 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">None of our di</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">rectors and executive officers held options in respect of shares representing one percent or more of our share capital at February 23, 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Note 27 to our Consolidated Financial Statements for information on our share-based payment plans.</span></div><div id="i2ad619f032b2435680b3f6486d100018_124"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 7. Major Shareholders and Related Party Transactions</span></div><div id="i2ad619f032b2435680b3f6486d100018_127"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Major Shareholders</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At February 23, 2023, we had 5,775,237,554 shares outstanding, each having a nominal value of 1.00 euro per share. All outstanding shares have the same rights.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At February 23, 2023</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, according to information provided to us or to the Spanish National Securities Commission (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Comisi&#243;n Nacional de Mercado de Valores</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CNMV</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), beneficial owners of 3% or more of our voting stock were as follows:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:39.428%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.794%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.794%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.794%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.794%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.796%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="border-top:2pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Name of Beneficial Owner</span></td><td colspan="6" style="border-top:2pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% of voting rights attributed to shares</span></td><td colspan="6" style="border-top:2pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% of voting rights through financial instruments</span></td><td colspan="3" rowspan="2" style="border-top:2pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">% of total voting rights</span></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Direct</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Indirect</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Direct</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Indirect</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #d9d9d9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Banco Bilbao Vizcaya Argentaria, S.A.(1)</span></td><td colspan="3" style="border-top:2pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.85</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.02</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.87</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #d9d9d9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">CaixaBank, S.A.(2)</span></td><td colspan="3" style="border-top:1pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.50</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00</span></td><td colspan="3" style="border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.50</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #d9d9d9;border-top:1pt solid #d9d9d9;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">BlackRock, Inc.(3)</span></td><td colspan="3" style="border-bottom:2pt solid #d9d9d9;border-top:1pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00</span></td><td colspan="3" style="border-bottom:2pt solid #d9d9d9;border-top:1pt solid #d9d9d9;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.32</span></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00</span></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.16</span></td><td colspan="3" style="border-bottom:1pt solid #c0c0c0;border-top:1pt solid #c0c0c0;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.48</span></td></tr></table></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:25.02pt">Based on the information provided by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) for our 2022 Annual Report on Corporate Governance. According to the aforementioned information provided by BBVA, the percentage of economic rights attributed to Telef&#243;nica, S.A. shares owned by BBVA amounts to 4.97% of the Company's share capital.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:25.02pt">Based on the information provided by CaixaBank, S.A. for our 2022 Annual Report on Corporate Governance. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">122</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:25.02pt">Based on the information notified by BlackRock, Inc. to the CNMV on March 31, 2020 as updated per the share capital of Telef&#243;nica, S.A. as of December 31, 2022. Based on the Schedule 13G/A filed with the SEC on October 7, 2022, BlackRock, Inc. beneficially owned 4.96% of Telef&#243;nica, S.A. shares (4.49% of voting rights).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">To the extent that our shares are represented by account in the book-entry form, we do not keep a shareholder registry and our ownership structure cannot be known precisely. Based on the information available to us there is no individual or corporation that directly or indirectly through one or more intermediaries may exercise any type of control over us. Nevertheless, we have certain shareholders whose holdings are considered material.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Ownership Limitations</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are no limitations with respect to the ownership of our assets or share capital except those related to assets derived from the application of the reciprocity principle. Article 6 of the General Telecommunications Law, or the GTL, provides for the application of the reciprocity principle under existing international treaties or agreements signed and ratified by Spain. The Spanish government, upon request, may authorize exceptions to the reciprocity principle contained in the GTL.</span></div><div id="i2ad619f032b2435680b3f6486d100018_130"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Related Party Transactions</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2020, 2021 and 2022 through the date of this Annual Report, the Directors and senior executives did not enter into any transaction with Telef&#243;nica, S.A. or any Telef&#243;nica Group company other than those in the Group&#8217;s normal trading activity and business, except for the transactions with parties related to Directors during fiscal year 2022 disclosed in Note 11 to the Consolidated Financial Statements. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Board of Directors&#8217; Regulations grant the Board of Directors the exclusive power to authorize any transactions with major shareholders or with our directors. Prior to authorizing any such transaction, our Board will receive an opinion from the Audit and Control Committee addressing the fairness of the transaction to our shareholders and us. Any of our directors that may have an interest in the proposed transaction must abstain from voting on the proposed transaction.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Note 11 to our Consolidated Financial Statements for further information.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Related Party Transactions with Significant Shareholders</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Two of our major shareholders are financial institutions (see &#8220;&#8212;Major Shareholders&#8212;General&#8221; above). We have entered into related party transactions with both companies within our ordinary course of business, and always on arm&#8217;s-length terms. During 2020, 2021 and 2022 through the date of this Annual Report, the executed transactions were generally loans, capital markets or derivative transactions provided to us by these financial institutions and agreements for us to provide telecommunications and broadband services to such institutions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Note 11 to our Consolidated Financial Statements for further information.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Intra-Group Loans</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are the parent company of the Telef&#243;nica Group and operate through our subsidiaries and affiliated companies. We coordinate group policies, including financial policy and, in some cases, actual financial management is conducted by us. Most of the transactions we perform with other members of the Telef&#243;nica Group relate to financing transactions, including covering their needs for funds and providing interest rate and exchange rate hedges.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, as recorded in our parent company accounts, companies in the Telef&#243;nica Group owed Telef&#243;nica, S.A. a total of 1,715 million euros (3,772 million euros at December 31, 2021), including amounts due under intra-group loans and dividends distributed and uncollected at December 31, 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, at December 31, 2022, companies of the Telef&#243;nica Group and their associates had loaned to us (Telef&#243;nica, S.A.) a total of 42,777 million euros (43,062 million euros at December 31, 2021), of which 10,019 million euros (10,499 million euros at December 31, 2021) was loaned to us by Telef&#243;nica Europe, B.V. and 26,468 million euros (28,817 million euros at December 31, 2021) was loaned to us by Telef&#243;nica Emisiones S.A.U., our financing subsidiaries devoted to raising funds in the capital markets, 6,290 million euros (3,580 million euros at December 31, 2021) was loaned to us by Telfisa Global, B.V., our financing subsidiary charged with centralizing and managing the cash pooling of our subsidiaries in Latin America, Europe and the United States, and no amount was loaned to us by other companies (166 million euros at December 31, 2021).</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">123</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_133"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Interests of Experts and Counsel</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_136"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 8. Financial Information</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Consolidated Financial Statements</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Item 18.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a) Legal Proceedings</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the advice of our legal counsel we believe it is reasonable to assume that these legal proceedings will not materially affect the financial condition or solvency of the Telef&#243;nica Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contingencies arising from the litigation and commitments described below were evaluated. The provisions recorded in respect of the commitments taken as a whole are not material.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following unresolved legal proceedings or those underway in 2022 are highlighted (see  &#8220;&#8212;(b) Tax Proceedings&#8221; below and Note 25 to the Consolidated Financial Statements for information on significant tax-related cases).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the decision by Agencia Nacional de Telecomunica&#231;&#245;es (&#8220;ANATEL&#8221;) regarding the inclusion of interconnection and network usage revenues in the Fundo de Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es (&#8220;FUST&#8221;) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vivo Group operators (currently "Telef&#243;nica Brasil"), together with other cellular operators, appealed ANATEL&#8217;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 Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es) &#8211;a fund which pays for the obligations to provide Universal Service&#8211; with retroactive application from 2000. On March 13, 2006, Brasilia Federal Regional Court no. 1 granted a precautionary measure which stopped the application of ANATEL&#8217;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&#8217;s calculation and rejecting the retroactive application of ANATEL&#8217;s decision. On January 26, 2016, ANATEL filed an appeal to overturn this decision with Brasilia Federal Regional Court no. 1, which was also dismissed. On May 10, 2017 ANATEL appealed to the higher courts on the merits of the case. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time, Telef&#243;nica Brasil and Telef&#243;nica Empresas, S.A., together with other wireline operators through ABRAFIX (Associa&#231;&#227;o Brasileira de Concession&#225;rias de Servi&#231;o Telefonico Fixo Comutado) appealed ANATEL&#8217;s decision of December 16, 2005, also obtaining the precautionary measures requested. On June 21, 2007, Brasilia Federal Regional Court no. 1 ruled that it was not appropriate to include the interconnection and network usage revenues in the FUST&#8217;s taxable income and rejected the retroactive application of ANATEL&#8217;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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of the claim is quantified at 1% of the interconnection revenues.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">124</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the Decision of the European Commission dated January 23, 2013, to sanction Telef&#243;nica for the infringement of Article 101 of the Treaty on the functioning of the European Union </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 19, 2011, the European Commission initiated formal proceedings to investigate whether Telef&#243;nica, S.A. (Telef&#243;nica) and Portugal Telecom SGPS, S.A. (Portugal Telecom) had infringed European Union antitrust laws with respect to a clause contained in the sale and purchase agreement of Portugal Telecom&#8217;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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 23, 2013, the European Commission passed a ruling on the formal proceedings. The ruling imposed a fine on Telef&#243;nica in the amount of 67 million euros, as the European Commission ruled that Telef&#243;nica 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&#8217;s ownership interest of Brasilcel, N.V. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 9, 2013, Telef&#243;nica filed an appeal for annulment of this ruling with the European Union General Court. On August 6, 2013, the European Union General Court notified Telef&#243;nica 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, Telef&#243;nica filed its reply. On December 18, 2013, the European Commission filed its appeal. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A hearing was held on May 19, 2015, at the European Union General Court. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica on services in which there was not potential competition or were outside the scope of Clause Nine. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 23, 2016, the European Commission filed its response against the Telef&#243;nica's appeal. On January 30, 2017, Telef&#243;nica filed its response. On March 9, 2017, the European Commission filed its rejoinder. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 13, 2017, the General Court dismissed the appeal filed by Telef&#243;nica. The European Commission, which was urged to recalculate the amount of the fine in the judgment of the General Court of June 2016, issued a resolution on January 25, 2022, imposing a fine of </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">67 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros on Telef&#243;nica. In April 2022, Telef&#243;nica paid the fine of 67 million euros imposed, bringing the procedure to an end.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Decision by the High Court regarding the acquisition by Telef&#243;nica of shares in &#268;esk&#253; Telecom by way of a tender offer </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venten Management Limited ("Venten") and Lexburg Enterprises Limited ("Lexburg") were non-controlling shareholders of &#268;esk&#253; Telecom. In September 2005, both companies sold their shares to Telef&#243;nica in a mandatory tender offer. Subsequently, Venten and Lexburg, in 2006 and 2009, respectively, filed actions against Telef&#243;nica claiming a higher price than the price for which they sold their shares in the mandatory tender offer. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica'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 Telef&#243;nica 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2016, the decision was notified to Telef&#243;nica. Telef&#243;nica filed an extraordinary appeal, requesting the suspension of the effects of the decision. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2017, Telef&#243;nica was notified of the decision of the Supreme Court, which ordered the suspension of the effects of the unfavorable decision to Telef&#243;nica issued by the High Court. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">125</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, Telef&#243;nica filed its response seeking dismissal of such motion for lack of legal basis. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 14, 2019,&#160;notification was given to Telef&#243;nica of the resolution of the Supreme Court which, based on the extraordinary appeal filed by Telef&#243;nica, abolished the decision of the High Court in Prague dated August 5, 2016 and remanded the case back to the High Court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2021, the High Court of Prague confirmed its appointment of an expert in order to produce a new expert report to assess the reliability of market-based price criteria used in the mandatory tender offer and further technical issues discussed in this litigation, including a new discounted cashflow valuation of the shares of &#268;esk&#253; Telecom in 2005.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the resolution of ANATEL to sanction Telef&#243;nica Brasil for breaches of the Fixed Telephony Regulation </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2018, Telef&#243;nica filed a judicial action for annulment against a resolution issued by ANATEL (the National Telecommunications Agency of Brazil) in March 2018 concluding the administrative process for determination of non-compliance with obligations (Processo Administrativo para Apura&#231;&#227;o de Descumprimento de Obriga&#231;&#245;es or "PADO") investigating alleged infractions of the Fixed Telephony Regulation by Telef&#243;nica Brasil.     </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This PADO investigation had been suspended during the negotiations of the conduct adjustment term (Termo de Ajustamento de Conduta or "TAC") between Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In its resolution of March 2018, ANATEL considered that Telef&#243;nica Brasil committed several infractions, specifically 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fine imposed by ANATEL and appealed by Telef&#243;nica Brasil is approximately 211 million Brazilian reals (approximately 38 million euros), which amounted to approximately 575 million Brazilian reals after currency value updates and accrued interest as of December 31, 2022 (approximately 103 million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brasil has not yet paid the fine, although Telef&#243;nica Brasil has guaranteed its payment through a guarantee insurance submitted to the court. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of the date of this Annual Report, there has been no conciliation and the proceeding is following its normal course. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ICSID Arbitration Telef&#243;nica, S.A. vs. Republic of Colombia </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the local arbitration brought by Colombia against Colombia Telecomunicaciones (&#8220;ColTel&#8221;), 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 29, 2017, ColTel&#8217;s share capital was increased in order to make the payment ordered by the local arbitral award; Telef&#243;nica, S.A. contributed and disbursed an amount equivalent to 67.5% of the award&#8217;s amount (317  million euros) and the Colombian Government contributed an amount equivalent to the remaining 32.5% (153 million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2018, Telef&#243;nica, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The ICSID Court was constituted on February 26, 2019, with Jos&#233; Emilio Nunes Pinto as President, Horacio A. Grigera Na&#243;n appointed by Telef&#243;nica, S.A., and Yves Derains appointed by Colombia. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">126</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Colombia filed Preliminary Objections on Jurisdiction on August 5, 2019. Telef&#243;nica, S.A. responded to Colombia&#8217;s objections in its Claimant&#8217;s Memorial on September 23, 2019, in which it also requested that Colombia pay compensation for damages caused to Telef&#243;nica, S.A. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 23, 2019, Colombia submitted its Complementary Objections on Jurisdiction as well as a request for Bifurcation, to which Telef&#243;nica, S.A. responded on November 29, 2019.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica, S.A.&#8217;s claim is pending. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 3, 2020, Colombia filed its reply to the claim filed by Telef&#243;nica before the ICSID.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2, 2020, Telef&#243;nica presented its response to Colombia's reply.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the hearing held in April 2021, on July 27, 2021 the hearing of closing arguments was held, and the parties are awaiting the issuance of the arbitration award.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica's lawsuit against Millicom International Cellular for default in the sale of Telef&#243;nica de Costa Rica</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. (Telef&#243;nica) 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 Telef&#243;nica de Costa Rica TC, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Millicom expressed its refusal to proceed with the closing, arguing that the competent Costa Rican administrative authorities had not issued the appropriate authorization.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 25, 2020, Telef&#243;nica 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 Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 29, 2020, Millicom filed a Motion to Dismiss, to which Telef&#243;nica replied on July 8, 2020.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 3, 2020, Telef&#243;nica 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 to Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 5, 2021, the Motion to Dismiss filed by Millicom in June 2020 was dismissed by the New York Supreme Court. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ICSID Arbitration Telef&#243;nica, S.A. vs. Republic of Peru</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 5, 2021, Telef&#243;nica filed a request for arbitration against the Republic of Peru at the ICSID, which was formally registered on March 12, 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica bases its claims on the Agreement for the Promotion and Reciprocal Protection of Investments between the Kingdom of Spain and the Republic of Peru ("APRPI") signed on November 17, 1994. Telef&#243;nica argues that the Peruvian tax administration (called Superintendencia Nacional de Aduanas y de Administraci&#243;n Tributaria, known as "SUNAT") and other state bodies have failed to comply with the obligations established in the APRPI, including by adopting arbitrary and discriminatory actions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is requested that the defendant be ordered to fully compensate Telef&#243;nica for all damages suffered. Once the Tribunal was constituted, on February 9, 2023, Telef&#243;nica filed a request for urgent injunctive relief together with a request for injunctive relief, requesting the suspension of the administrative litigation (acci&#243;n contencioso-administrativa or ACA) related to the income tax for the years 1998, 2000 and 2001, as well as the extension of the deadline for submission by Telef&#243;nica of the memorial or claim. Following response of Peru, on February 16, 2023, the Tribunal ruled to dismiss Telef&#243;nica's request for urgent injunctive relief, to establish the procedural calendar to process the request for injunctive relief and to grant Telefonica two additional weeks to file the memorial or claim.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">127</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2013)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2013, Telef&#243;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#243;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#243;nica Brasil for a period of fifteen years).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to ANATEL the renewals, which must be carried out every two years, should be accompanied by a payment equivalent to 2% of all income derived from the provision of personal mobile services, while Telef&#243;nica Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2020, Telef&#243;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the amount under litigation was 774&#160;million Brazilian reais (139 million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2015)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2015, Telef&#243;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#243;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#243;nica Brasil for a period of fifteen years).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to ANATEL the renewals, which must be carried out every two years, should be accompanied by a payment equivalent to 2% of all income derived from the provision of personal mobile services, while Telef&#243;nica Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2016, Telef&#243;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed. Pending judgment on appeal.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the amount under litigation was 400&#160;million Brazilian reais (72&#160;million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">UK High Court claim by Phones 4 U Limited against various mobile network operators and other companies, among others, Telef&#243;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In late 2018, Phones 4U Limited (in administration) (&#8220;P4U&#8221;) commenced a claim in the English High Court in London against various mobile network operators: Everything Everywhere, Deutsche Telekom, Orange, Vodafone, Telef&#243;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited (together the &#8220;Defendants&#8221;).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U carried on a business of selling mobile phones and connections to the public, such connections being supplied by mobile network operators including the Defendants.  In 2013 and 2014, the Defendants declined to extend and / or terminated their contracts to supply connections to P4U. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U went into administration in September 2014. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U alleges that the Defendants ceased to supply connections because they had colluded between themselves in contravention of the United Kingdom and the European Union competition laws and asserts that it has a basis to claim damages for breach of competition law by all the Defendants. The Defendants deny all P4U&#8217;s allegations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The claim commenced on December 18, 2018 by P4U. The Defendants filed their initial Defences in the course of April and May 2019, with P4U filing replies on October 18, 2019. The first case management conference took place on March 2, 2020. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The trial was held between May and July 2022. The parties are awaiting the issuance of the sentence.</span></div><div style="margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">128</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) Tax Proceedings</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Inspections in the tax group in Spain</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> In July 2019, new inspection procedure were initiated for several of the companies belonging to Tax Group 24/90, of which Telef&#243;nica, S.A. is the dominant company. The concepts and periods that have been 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. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">A Settlement Agreement was signed in October 2021, in which Telef&#243;nica manifested its agreement with certain of the tax assessments resulting from the inspection (specifically, with respect to the tax treatment of the exchange differences generated by assets denominated in Venezuelan bolivars), and its disagreement with others (mainly the consideration of exempt income of the &#8220;Juros sobre capital propio&#8221; since 2015), producing an impact on results (tax expense) of 387 million euros, with a deferred tax asset reduction as detailed in "Main changes registered in 2021" in Note 25 to the Consolidated Financial Statements. However, the tax assessments did not result in a significant cash outflow as the Telef&#243;nica Group had tax credits, which substantially offset their impact. </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The closing of the inspection procedure took place in January 2022, with the Settlement Agreement being notified, and which the Company challenged in an economic-administrative procedure at the Central Economic-Administrative Court due to the adjustments with which it did not agree, mainly related to the "juros sobre el capital propio". On 9 December 2022, the Company received a rejection resolution from the Central Economic-Administrative Court, which will be challenged on the National High Court.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to the 2008-2011 inspection procedure, in July 2022 Telef&#243;nica was notified of the Supreme Court's decision rejecting the appeal for cassation filed by the State Attorney's Office against the judgment of the Audiencia Nacional (National High Court) of October&#160;29, 2021. This confirmed the criteria used by Telef&#243;nica, S.A. for the use of tax losses carryforward and deductions in relation to the liquidation agreements derived from the Corporate Income Tax inspection of those years.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October&#160;24, 2022, an Agreement for the Execution of the Judgment of the Audiencia Nacional (National High Court) was issued, which orders the refund to Telef&#243;nica of an amount of 790 million euros for taxes paid in those years, as well as an amount of 526 million euros as delayed interest. Said amounts were collecte</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d on October&#160;28, 2022.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a consequence of the final outcome of the litigation above mentioned, no additional liabilities were recorded as of December 31, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Brazil</span></div><div style="margin-top:9pt;padding-left:13.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">State taxes</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To date the most significant issues have focused on the requirement to collect ICMS on penalties charged to customers for non-compliance, 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 b&#225;sica). In the case of the latter (assinatura b&#225;sica), the Supreme Court has established that the tax is only payable in respect of assessments for periods after October 2016. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 21,712 million Brazilian reais as of December 31, 2022 (approximately 3,898 million euros at the exchange rate on that date, see Note 24 to the Consolidated Financial Statements), 19,164 million Brazilian reais as of December 31, 2021 (approximately 3,032 million euros at the exchange rate on that date). Telef&#243;nica Brazil has obtained independent expert reports supporting its position, i.e. that the aforesaid services are not subject to ICMS. </span></div><div style="margin-top:9pt;padding-left:22.5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Federal taxes</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">129</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, there are possible contingencies in relation to the income tax federal taxes for the total amount of 29,778 million Brazilian reais as of December 31, 2022 (approximately </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,346</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at the exchange rate on that date), 18,078 million Brazilian reais as of  December 31, 2021 (approximately 2,860 million euros at the exchange rate on that date), mainly related to the tax amortization in Brazil in the years 2011 to 2020 of the goodwill originated in the acquisitions of Vivo and GVT and their subsequent merger with Telef&#243;nica 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 Telef&#243;nica Brazil has received independent expert reports that support this view. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are other probable contingencies in relation to the income tax federal taxes for the total amount of 104 million Brazilian reais as of December 31, 2022 (approximately </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at the exchange rate on that date), 98 million Brazilian reais as of  December 31, 2021 (approximately 16 million euros at the exchange rate on that date). The Company has recognized a provision for this amount.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica del Per&#250;</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to tax claims in Peru, it should be noted that Telef&#243;nica del Per&#250; is party to numerous legal proceedings (contentious administrative proceedings (ACAs) and appeals (amparos)) for tax matters relating to corporate income tax and VAT, mainly for the years </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1998 to 2005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the most relevant being those corresponding to the years 1998 to 2001 (relating to corporate income tax, payments in advance, credit balances, associated VAT, interest and applicable penalties).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolution of the appeals of the different cases from the period 1998 to 2001 has been uneven and complex over the last few years, but we can highlight the second instance Judgment of 2015, which was partially upheld; the Supreme Court Judgments of 2019; the January 2020 Supreme Court Ruling, annulling the previous rulings of 2000 and 2001 in relation to the provision for doubtful debts; the Constitutional Court Rulings in 2021 in relation to the settlement of late payment interest, partially upheld; and the Supreme Court Rulings of 2021 and 2022 on the credit balance from 1999 used in 2000. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 17 and 18, 2023, Telef&#243;nica del Per&#250; received notifications of the judgments handed down by the Supreme Court that resolved, in the last instance and unfavorably to the Company (references to the &#8220;Company&#8221; in this section refer to Telef&#243;nica del Per&#250;), the contentious administrative proceedings relating to income tax for the years 1998, 2000 and 2001.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The rulings issued by the Fifth Chamber of Constitutional and Social Transitory of the Supreme Court do not contain any payment mandate to the Company, as the rulings issued in the administrative contentious proceedings were resolved on concepts derived from a pronouncement of the Tax Court. At the end of these proceedings - and any others that may be applicable - the Tax Administration, through an administrative act, will determine the amount of the corresponding payment obligations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Because there were certain adjustments on which the rulings had been definitive since 2015 (positively for the Company in relation to the deductibility of the rental of public spaces and negatively in the case of the deductibility of certain financial charges), the Company previously recorded a provision with an impact on income tax, the amount of which has been updated periodically and constantly depending on the evolution of the various proceedings and the applicable interest rates.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the above, in June 2022 a new ruling was received from the Tax Court in relation to the corporate income tax of Telef&#243;nica M&#243;viles del Per&#250; for 2000. This ruling was favorable to the Company with respect to the recognition of the tax value of certain network assets and unfavorable with respect to the deductibility of the exchange rate tax.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In relation to all these proceedings, the Group considers that the initial amount claimed by the Peruvian government has been exponentially increased by the accrual of interest generated by the delay, not attributable to the Company, of almost 20 years in processing the lawsuits, meaning that almost 80% of the total amount claimed is due to </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">interest and fines. And all this, despite the fact that in 2021 the Constitutional Court itself ruled in favor of Telef&#243;nica del Per&#250;, recognizing that it had been charged interest for delays not attributable to the company.</span></div><div style="margin-top:9pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For this and other reasons, the Group has been in international arbitration before ICSID since March 2021 for various conducts of the Peruvian State in violation of the Agreement for the Promotion and Reciprocal Protection of Investments between Spain and Peru (see Note 29.a)</span></div><div style="margin-bottom:9pt;margin-top:9pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has recorded the necessary provisions for the contingencies considered probable, leaving as possible contingencies an amount of 560 million Peruvian soles at December 31, 2022 (approximately 138 million euros).  </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As of December 31, 2022, the total amount of tax contingencies related to Telef&#243;nica del Per&#250; that the Group has recognized in its consolidated financial statements, including as the most relevant amount that related to the aforementioned judgements and rulings received since 2015, plus accrued interest and other above-mentioned impacts, amounts to 3,849 million Peruvian soles which is equivalent to 945 million euros at the exchange rate of December 31, 2022.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax deductibility of financial goodwill in Spain</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tax regulations added article 12.5 to the Spanish Corporate Income Tax Law, which came into force on January 1, 2002. The article regulated the deductibility of tax amortization of financial goodwill (fondo de comercio) arising from the acquisition of non-Spanish companies, which could be amortized over 20 years at 5% per annum.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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&#160;31, 2022, was 2,042 million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 6, 2021, the Court of Justice of the European Union concluded that the European Commission correctly classified the Spanish tax depreciation scheme of the Fondo de Comercio as State aid incompatible with the internal market for the First and Second Decisions. </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the recognition of legitimate expectations for the First and Second decisions, the Court of Justice of the European Union confirms its applicability.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The proceedings initiated on the Third Decision, suspended until the resolution of the 1st and 2nd Decisions, were reactivated in October 2021, and are still pending first instance judgment.  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, the "Tax and Customs Control Unit of the Spanish Tax Authority" (Dependencia de Control Tributario y Aduanero de la Agencia Tributaria), in compliance with the obligation set out in the EC Decision (EU) 2015/314, recovered in March 2019 and February 2021, 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 2016 to 2018 respectively, and has notified in December 2022 the recovery of the relevant amounts for the years 2019 to 2020.The recovery of such amounts is provisional, pending the final rulings on the appeals brought against the three decisions. The amount paid by Telef&#243;nica after offsetting outstanding tax credits (tax losses carryforward and deductions) amounted to 12 million euros.  </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">131</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the fact that Telef&#243;nica 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 released in 2021 the provision for the recovered part, 143 million euros, and has decided to continue provisioning the amount of the goodwill amortized for tax purposes, and not recovered by the Administration which amounted to 406 million euros as of December 31, 2022 (343 million euros as of December 31, 2021).  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Years open for inspection in the Group companies</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s tax legislation, taking into account their respective statute of limitations periods. In Spain the taxes from 2018 onwards are open to inspection. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the other countries in which the Telef&#243;nica Group has a significant presence, the years open for inspection by the relevant authorities are generally as follows: </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last eleven years in Germany. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last eight years in the United Kingdom. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last seven years in Argentina.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last six years in Venezuela</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last five years in Brazil, Mexico, Colombia, Uruguay and the Netherlands.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last four years in Peru.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last three years in Chile, Ecuador and the United States. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tax inspection of the open years is not expected to give rise to additional material liabilities for the Group. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c) Other Proceedings </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Telef&#243;nica 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.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividend information and shareholders&#8217; return</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Dividend background</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below sets forth the annual dividends declared per share and the year to which such dividends correspond. Generally, the dividend for a given year is paid in two tranches, one in the second half of the relevant year and the other during the first half of the following year.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:29.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:68.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year ended December 31,</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 31pt;text-align:left;text-indent:189pt;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Dividends per share (euro)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2022 (1)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2021 (2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2020 (3)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2019 (4)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2018 (5)</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.40&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">(1)  Company&#8217;s shareholder remuneration in 2022 consists of paying a dividend of up to 0.30 euros per share. A cash dividend of 0.15 euros was paid on December 15, 2022. The second tranche of the dividend is expected to be paid in the second quarter of 2023.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">(2)  Company&#8217;s shareholder remuneration in 2021 consists of paying a dividend of up to 0.30 euros per share in scrip dividend: a scrip dividend of up to 0.15 euros was paid in December 2021, and a scrip dividend of up to 0.15 euros was paid in June 2022. A scrip dividend consists 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. </span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%"> </span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%"> (3) Company&#8217;s shareholder remuneration in 2020 consists of paying a dividend of up to 0.40 euros per share in scrip dividend: a scrip dividend of up to 0.20 euros was paid in December 2020, and a scrip dividend of up to 0.20 euros was paid in June 2021. A scrip dividend consists of </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">132</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">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. </span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">(4) &#160;&#160;&#160;&#160;Company&#8217;s shareholder remuneration in 2019 consists of paying a dividend of up to 0.40 euros per share. A cash dividend of 0.20 euros was paid on December 19, 2019. A scrip dividend of up to 0.20 euros was paid in June 2020, 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.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">(5) &#160;&#160;&#160;&#160;Company&#8217;s shareholder remuneration in 2018 consists of paying a dividend of 0.40 euros per share. A cash dividend of 0.20 euros was paid on December 20, 2018. The second tranche of the dividend of 0.20 euros per share was paid in cash on June 20, 2019.</span></div><div style="margin-bottom:5pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments of any future dividends will be dependent on the Group&#8217;s earnings, cash generation, solvency, liquidity and flexibility to make strategic investments, all of which may be influenced by a variety of factors. See &#8220;Cautionary Statement Regarding Forward-Looking Statements&#8221;.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Treasury shares and share buybacks</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have performed, and may consider performing, transactions with treasury shares and financial instruments or contracts that confer the right to acquire treasury shares or assets whose underlying is Company&#8217;s shares.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Treasury share transactions will always be for legitimate purposes, including:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">undertaking treasury share acquisitions approved by the Board of Directors or pursuant to General Shareholders&#8217; Meeting resolutions;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">honoring previous legitimate commitments assumed;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">covering requirements for shares to allocate to employees and management under stock option plans; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">other purposes in accordance with prevailing legislation. In the past, treasury shares purchased on the stock market were exchanged for other shares or securities (as in the case of preferred capital securities), swapped for stakes in other companies (e.g. China Unicom, Telco, S.p.A., or Telef&#244;nica Brasil in 2015) or acquired to reduce the number of shares in circulation (by redeeming the shares acquired), thereby improving earnings per share.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a description of transactions on treasury shares, see Note 17 (h) to our Consolidated Financial Statements and &#8220;Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchaser&#8221;.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B.      Significant Changes</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No significant change has occurred since the date of the Consolidated Financial Statements other than those mentioned in this Annual Report or our Consolidated Financial Statements.</span></div><div id="i2ad619f032b2435680b3f6486d100018_139"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 9. The Offering and Listing</span></div><div id="i2ad619f032b2435680b3f6486d100018_142"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Offer and Listing Details</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our ordinary shares, nominal value 1.00 euro each, are currently listed on each of the Madrid, Barcelona, Bilbao and Valencia stock exchanges and are quoted through the Automated Quotation System under the symbol &#8220;TEF&#8221;. Our ADSs are listed on the New York Stock Exchange and the Lima Stock Exchange under the symbol "TEF".</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Citibank, N.A. is the Depositary issuing ADSs in form of certificated ADSs (also known as ADRs) or uncertificated ADSs pursuant to the deposit agreement dated as of November 13, 1996, as amended as of December 3, 1999 and as further amended as of June 23, 2000, and as of March 9, 2007, among Telef&#243;nica, the Depositary and the holders from time to time of ADSs (the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deposit Agreement</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, 141,341,317 of our shares were held in the form of ADSs by 501 holders of record, including Cede &amp; Co., the nominee of Depository Trust Company (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">DTC</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). The number of ADSs outstanding was 160,294,519 at December 31, 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our ordinary shares are quoted on the Spanish Stock Exchanges in euro. Currency fluctuations may affect the dollar equivalent of the euro price of our shares listed on the Spanish Stock Exchanges and, as a result, the market price of our ADSs, which are listed on the New York Stock Exchange (in addition to the Lima Stock Exchange). </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">133</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Currency fluctuations may also affect the dollar amounts received by holders of ADSs on conversion by the Depositary of any cash dividends paid in euro on the underlying shares.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spanish Securities Market Legislation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Royal Legislative Decree 4/2015, of October 23 (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Ley del Mercado de Valores</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, or the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LMV</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), approved the reinstated text of the Spanish Securities Markets Act, which replaced Law 24/1988, as amended. The LMV regulates the primary and secondary securities markets in Spain by establishing principles for their organization and operation, rules governing the activities of persons and institutions operating in these markets and a system for their supervision.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This legislation and the regulation implementing it (mainly, as far as private issuers are concerned, the Royal Decree 1310/2005, of November 4 (as amended), in relation to the issuance of securities and its admission to listing in official secondary markets, and Royal Decree 1362/2007, of October 19 (as amended), concerning the transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market in the EU):</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">establishes an independent regulatory authority, the CNMV, to supervise the securities markets;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">establishes the rules for surveillance, supervision and sanction provided for the representation of transferable securities by book entries or by certificate;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">establishes a framework for the issuance of securities;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">establishes a framework for trading activities;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">establishes the disclosure obligations of issuers, particularly the obligation to file annual audited financial statements and to make public quarterly financial information;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">establishes the framework for tender offers;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">establishes the code of conduct for all market participants; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">regulates market abuse infringements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 11, 2005, Royal Decree-Law 5/2005 was approved, modifying the LMV in order to implement Directive 2003/71/EC of the European Parliament and of the Council of November 4, 2003, on the prospectus to be published when securities are offered to the public or admitted to trading (which amended the previous European Directive regulating requirements of prospectus &#8211;Directive 2001/34/CE&#8211;). The Directive: (i) harmonizes the requirements for the process of approval of the prospectuses, so that the EU passport granted to an issuer, valid throughout the European Union, also applies to the prospectus of such issuer; (ii) incorporates the application of the &#8220;country of origin principle&#8221;, by which the prospectus will be approved by the Member State of the European Union where the issuer has its registered office but introduces the possibility that, in certain circumstances (such as issues with high minimum denominations &#8211;1,000 euros or more&#8211;), the issuer may choose the relevant European Union competent authority (and thus, the relevant regulatory legal framework) for prospectus approval.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsequently, Royal Decree 1310/2005, further amended by Royal Decree 878/2015, partially developed the LMV in relation to the admission to trading of securities in the official secondary markets, the sales or subscriptions, public offers and the prospectuses required to those effects. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 12, 2007, Law 6/2007 was approved, modifying the LMV in order to implement Directive 2004/25/EC of the European Parliament and of the Council of April 21, 2004 relating to public tender offers and Directive 2004/109/EC of the European Parliament and of the Council of December 15, 2004 relating to the transparency requirements for issuers whose securities are admitted to trading on a regulated market in the EU. Law 6/2007 intends: (i) to encourage an efficient market for corporate control, while protecting the rights of minority shareholders of listed companies and (ii) to enforce transparency in financial markets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to public tender offers, Law 6/2007 (i) establishes the cases in which a company must launch a takeover bid over the whole share capital of a listed company; (ii) establishes that mandatory takeover bids shall be launched once a shareholder reaches a specific stake on the share capital of a listed company; (iii) adds new obligations for the management bodies of the target company of the takeover bid in terms of defensive measures against the takeover bid; and (iv) regulates the squeeze-out and sell-out procedures that can be initiated (by the bidder that </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">134</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">launched the takeover bid or by the outstanding minority shareholders after the takeover bid, respectively) when, following a takeover bid, the bidder holds at least 90% of the share capital of the target company. Royal Decree 1066/2007, as amended, completes the regulation currently in place for takeover bids in Spain.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding transparency of issuers whose shares are accepted to trading on an official market, Law 6/2007 (i) modifies the reporting requirements of the periodic financial information of listed companies and issuers of listed securities; (ii) establishes a new disclosure regime for shareholders owning over a certain significant stake in a listed company; (iii) adds new information and disclosure requirements for issuers of listed securities; (iv) establishes the civil liability regime of the issuer and its board of directors in connection with inaccuracies in the financial information disclosed by issuers of securities; and (v) confers new supervisory powers upon the CNMV with respect to the review of accounting information.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 19, 2007, Law 47/2007 was approved, modifying the LMV in order to implement Directive 2004/39/EC of the European Parliament and of the Council of April 21, 2004, on Markets in Financial Instruments (MiFID); Directive 2006/73/EC of the European Parliament and of the Council of August 10, 2006 on organizational requirements and operating conditions regarding the Market in Financial Instruments Directive (Directive 2004/39/EC of the European Parliament and of the Council); and Directive 2006/49/EC of the European Parliament and of the Council of June 14, 2006 on the capital adequacy of investment firms and credit institutions. Its principal aim is to establish a general legal framework for financial markets in the European Union, specifically with regard to financial services, as well as to ensure appropriate transparency for investors through a regular flow of the relevant information concerning security issuers. Amongst other things, the new regime (i) establishes new multilateral trading services for listing shares apart from the stock markets; (ii) reinforces the measures for the protection of investors; (iii) establishes new organizational requirements for investment firms; and (iv) implements new supervisory powers for CNMV, establishing cooperation mechanisms amongst national supervisory authorities.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 4, 2009, Law 3/2009, regarding structural modifications on Spanish corporations came into force, modifying the maximum threshold established in the Spanish Corporation Act as to the number of treasury shares held by listed companies and their subsidiaries, from 5% up to 10% of their total capital outstanding.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 1, 2011, Law 25/2011, partially reforming the Spanish Corporation Act and transposing Directive 2007/36/EC of the European Parliament and of the Council of July 11, relating to the exercise of certain rights by shareholders of listed companies was approved.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2012, Royal Decree 1698/2012, amending regulations regarding prospectus and transparency requirements due on securities issues by the transposition of Directive 2010/73/EU of the European Parliament and of the Council of November 24, 2010, by amending Directive 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading and Directive 2004/109/EC on the harmonization of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market, pursues essentially the reduction of administrative burdens related to the publication of a prospectus for the public offering of securities and admission to trading on markets within the European Union.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 20, 2013, ECC/461/2013 regulation was approved. This regulation, as amended, establishes the content and structure of the annual report on corporate governance, the annual compensation report and other information mechanisms for public listed companies, the savings banks and other entities that issue securities admitted to trading on regulated securities markets. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 16, 2014, Regulation (EU) 596/2014 (Market Abuse Regulation) of European Parliament and of the Council on market abuse was approved. The regulation repeals Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. This Regulation has been directly applicable in all European Union Member States since July 3, 2016. Since the adoption of the Market Abuse Regulation, the European Commission has adopted several Implementing Regulations to complement or clarify certain aspects of said Regulation.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 12, 2014, the Official Journal of the European Union published Directive 2014/65/EU of the European Parliament and of the Council of May 15, 2014 on markets in financial instruments (which amended Directive 2002/92/EC and Directive 2011/61/EU ("</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MIFID II</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">")) and Regulation (EU) 600/2014 of the European Parliament and Council of May 15, 2014 on markets in financial instruments and amending Regulation (EU) 648/2012 (MiFIR).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 3, 2014, Law 31/2014, amending the Spanish Corporation Act was enacted. This law introduced changes in matters related to general shareholders&#8217; meetings, and shareholders rights. It also modified the legal </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">135</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">status of members of the Board of Directors, including their compensation, practices and composition and set forth new rules on the composition of Board Committees.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 23, 2015, Circular 3/2015 of the CNMV established the information and technical and legal specifications that must be published on public listed companies', savings banks' and other entities&#8217; websites, in order to duly comply with the principle of transparency.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 2, 2015, Royal Decree 878/2015 was approved with the aim of reaching a greater level of efficiency and safety in the Spanish Automated Quotation System as well as contributing to the development towards an integrated European financial services market. This Royal Decree was enacted to fully implement into Spanish Legislation the provisions of Directive 2013/50/UE of the European Parliament and of the Council of October 22.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 20, 2017, Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the "</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prospectus Regulation</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"), entered into force and became directly applicable in all European Union Member States on a rolling basis, with full application from July 21, 2019. The Prospectus Regulation abolishes and  replaces the previous EU Directive 2003/71/EC (the Prospectus Directive). The Prospectus Regulation aims at harmonizing the disclosure regime by removing asymmetries of information and, ultimately, at increasing transparency in the markets. The Prospectus Regulation regulates the content of the prospectuses and contains a list of exemptions from the obligation to produce a prospectus in certain cases.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 24, 2017, the Royal Decree-Law 18/2017, implementing in Spain Directive 2014/95/EU of the European Parliament and of the Council of October 22, 2014 as regards disclosure of non-financial and diversity information by certain large undertakings and groups. Such Royal Decree-Law requires certain companies to include in their management report a non-financial statement containing certain additional information relating to environmental, social and employee matters, respect for human rights, anti-corruption and bribery matters.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 3, 2018, the new legal framework on markets and financial instruments (based on MiFID II) and Regulation 600/2014/EU of the European Parliament and the Council (MiFIR Regulation) became effective in all European Union Member States. Shortly before such date, on  December 29, 2017, Spain approved the Royal-Decree 21/2017 to implement into Spanish legislation the European MiFID II and MiFIR regulations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 28, 2018, Circular 3/2018 of the CNMV on periodic reporting by issuers of securities admitted to trading on regulated markets, regarding half-yearly financial reports, interim management statements and, where applicable, quarterly financial reports, was approved. The aim of this Circular is to adapt the content of the templates of said reports to the changes in national and international accounting standards, mainly the entry into force of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 28, 2018, Spain approved the Royal Decree-Law 14/2018, which amended the LMV to fully implement and reflect in the Spanish Securities Markets Act MiFID II and MiFIR provisions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 23, 2018, Royal Decree-Law 19/2018 on payment services and other urgent financial measures was approved and modified the LMV in order to adapt it to the Market Abuse Regulation.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2018, Royal Decree 164/2018 was approved in order to further develop and complement the abovementioned Royal-Decree 21/2017 of December 29 and Royal Decree 14/2018 of September 28 in MiFID-MiFIR matters.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2018, Law 11/2018 was approved, modifying the Spanish Commercial Code, the revised text of the Spanish Companies Act approved by Royal Legislative Decree 1/2010, of July 2, and Law 22/2015, of July 20, on Audit of Accounts, on non-financial information and diversity. Its main objective is to fully incorporate in Spain EU Directive 2014/95/EU of the European Parliament and of the Council, of October 22, 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 12, 2021, Law 5/2021, implementing Directive 2017/828/EU of the European Parliament and of the Council of May 17, 2017, as regards the encouragement of long-term shareholder engagement was published, amending the Spanish Corporate Enterprises Act.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 28, 2021, Circular 3/2021, of the CNMV was approved, which (among others) establishes the new templates for the annual management board compensation report and the annual report on corporate governance for public listed companies. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">136</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 26, 2022, Circular 2/2022 of the CNMV was approved.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Circular establishes the new forms to be used to report significant shareholdings in entities whose securities are admitted to trading on a regulated market and to report any transaction that an issuer makes with its treasury shares and includes certain new provisions applicable to market makers.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Securities Trading in Spain</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Spanish securities market for equity securities consists of four stock exchanges located in Madrid, Bilbao, Barcelona and Valencia and the Spanish Stock Exchange Interconnection System also known as Automated Quotation System (or in Spanish, &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Sistema de Interconexi&#243;n Burs&#225;til</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;  &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">SIBE</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; or &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Mercado Continuo&#8221;)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. During 2022, the Automated Quotation System accounted for the majority of the total trading volume of equity securities on the Spanish Stock Exchanges.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Automated Quotation System</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Automated Quotation System links the four Spanish Stock Exchanges, providing those securities listed on it with a uniform continuous market that eliminates certain of the differences among the local exchanges. The principal feature of the system is the computerized matching of buy and sell orders at the time of entry of the order. Each order is executed as soon as a matching order is entered, but can be exceptionally modified, corrected or canceled until executed with the consent of the contracting parties and provided always that the appropriate authorization has been granted by the Supervision Department or the Trading and Control Committee of Sociedad de Bolsas, S.A. (&#8220;Sociedad de Bolsas&#8221;). The activity of the market can be continuously monitored by investors and brokers. The Automated Quotation System is operated and regulated by Sociedad de Bolsas, a corporation owned by the companies that manage the local exchanges. All trades on the Automated Quotation System must be placed through a brokerage firm, an official stock broker or a dealer firm that is a member of a Spanish Stock Exchange. Beginning January 1, 2000, Spanish banks were allowed to become members of the Spanish Stock Exchanges and, therefore, can trade through the Automated Quotation System.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sociedad de Bolsas reinstated the Operating Rules of the Spanish Automated Quotation System by means of Circular 1/2021, of March 17, 2021, which came into effect on March 30, 2021. The aim of such Circular was incorporating in a single regulatory text the rules governing trading in the Automated Quotation System, following their adaptation to the MiFID II standards. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The open session is from 9:00 a.m. to 5:30 p.m. CET (UTC+1), when continuous trading is carried out. In a pre-opening session held from 8:30 a.m. to 9:00 a.m. CET (UTC+1)  each trading day, an opening price is established for each security traded on the Automated Quotation System based on a real-time auction. The regime concerning opening prices was changed by an internal rule issued by the Sociedad de Bolsas. Pursuant to such rule, each stock in the continuous market is assigned a static and a dynamic range within which its price can fluctuate. The price of a stock may rise or fall within its static range (which is published once a month and is calculated according to the stock&#8217;s average historic price volatility) above or below its opening price (which shall be the closing price of the previous session). When the stock trades outside of this range, the trading of the stock is suspended for five minutes, during which time an auction takes place. After this auction, the price of the stock can once again rise or fall within its static range above or below its last auction price (which will be considered as the new static price before triggering another auction). Furthermore, the price of a stock cannot rise or fall by more than its dynamic price range (which is fixed and published once a month and is calculated according to the stock&#8217;s average intra-day volatility), from the last price at which it has traded. If the price variation exceeds the stock&#8217;s dynamic range, a five-minute auction is triggered. Between 5:30 p.m. and 5:35 p.m. CET (UTC+1) a closing price is established for each security through an auction system similar to the one held for the pre-opening early in the morning.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Trading hours for block trades are also from 9:00 a.m. to 5:30 p.m. CET (UTC+1). Between 5:30 p.m. and 8:00 p.m. CET (UTC+1), certain trades may occur outside the computerized matching system without prior authorization from Sociedad de Bolsas at a price within the range of 5% above the higher of the average price and closing price for the day and 5% below the lower of the average price and closing price for the day if there are no outstanding bids or offers, respectively, on the system matching or bettering the terms of the proposed off-system transaction and, if, among other things, the trade involves more than 300,000 euros and more than 20% of the average daily trading volume of the stock during the preceding three months. These trades must also relate to individual orders from the same person or entity and be reported to the Sociedad de Bolsas, before 8:00 p.m. CET (UTC+1). At any time, trades may take place (with the prior authorization of the Sociedad de Bolsas) at any price if:</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">137</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the trade involves more than 1.5 million euros and more than 40% of the average daily volume of the stock during the preceding three months;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the transaction derives from a merger or spin-off process, or from the reorganization of a group of companies;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the transaction is executed for the purposes of settling a litigation or completing a complex group of contracts; or</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Sociedad de Bolsas finds other justifiable cause.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information with respect to the computerized trades between 9:00 a.m. and 5:30 p.m. CET (UTC+1) is made public immediately, and information with respect to trades outside the computerized matching system is reported to Sociedad de Bolsas by the end of the trading day and published in the Bolet&#237;n de Cotizaci&#243;n and in the computer system by the beginning of the next trading day.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the event of important news or events or particularly significant incidents arising during Automated Quotation System sessions, the usual duration of trading hours may exceptionally be altered in accordance with the provisions of the Operating Rules of the Spanish Automated Quotation System. The start of a session may also be brought forward for the same reasons. Such decision shall be properly announced and disseminated through the technical means of the Automated Quotation System as soon as possible.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sociedad de Bolsas is also the manager of the IBEX 35&#174; Index. This index is made up by the 35 most liquid securities traded on the Spanish Market and, technically, it is a price index that is weighted by capitalization and adjusted according to the free float of each company comprised in the index. Apart from its quotation on the four Spanish Exchanges, Telef&#243;nica is also currently included in the IBEX 35&#174; Index.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Clearance and settlement system</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Sociedad de Gesti&#243;n de los Sistemas de Registro, Compensaci&#243;n y Liquidaci&#243;n de Valores S.A.U. (whose commercial name is Iberclear) was created by Law 44/2002 on Measures for the Reform of the Financial System, enacted on November 22, 2002 to increase the efficiency of the Spanish financial markets. Such law introduced a new article, 44-bis to the LMV which established the framework for the constitution of Sociedad de Gesti&#243;n de los Sistemas de Registro, Compensaci&#243;n y Liquidaci&#243;n de Valores S.A.U.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Iberclear is regulated by the LMV and where appropriate, by Royal Decree 505/1987 of April 3, 1987; Royal Decree 878/2015 of October 2, and by any other related regulation. This company, which is a wholly owned subsidiary of Bolsas y Mercados Espa&#241;oles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. (Bolsas y Mercados Espa&#241;oles), has the following functions:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Keeping accounting records in the form of book entries of securities traded in Securities Markets or in public debt markets, and securities traded in other secondary official markets or multilateral trading facilities, at the request of their governing bodies.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Keeping accounting records of other securities not listed for trading in secondary official markets, regulated markets or multilateral trading facilities, at the request of their governing bodies.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Managing settlement and, if necessary, clearing of securities and cash deriving from transactions executed on securities.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Rendering technical and operating services directly related to those of registration, clearing and settlement of securities and any others required for Iberclear to collaborate and coordinate its actions with other areas and systems of registration, clearing and settlement of securities,&#160;for which it may have to be authorized under the Rules of Central Securities Depositories.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Any other duties assigned by the Spanish Government, subject to prior reports from the CNMV and, if applicable, the Bank of Spain.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, and according to Law 41/1999, Iberclear currently manages the ARCO Securities settlement system (for securities in book-entry form listed on the four Spanish Stock Exchanges, on the Spanish Public Debt Book-Entry Market, on &#8220;AIAF Mercado de Renta Fija&#8221;, or on other Multilateral Trading Facilities that have appointed Iberclear for such purposes. Only Iberclear participants to this ARCO System are entitled to use it, with participation restricted to </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">138</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">credit entities, investment firms authorized to render custody services, certain public bodies, and Central Securities Depositories and Central Counterparties authorized under their respective European Union Regulations.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Iberclear will provide the CNMV, the Bank of Spain and the Ministry of Economy with the information that these entities may request regarding the registry clearance and settlement performed within the systems managed by Iberclear.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transactions carried out on the Spanish Stock Exchanges are cleared and settled through Iberclear.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Only members of the system are entitled to use Iberclear, and membership is restricted to authorized broker members of the Spanish Stock Exchanges, the Bank of Spain (when an agreement, approved by the Spanish Ministry of Economy and Finance, is reached with Iberclear) and, with the approval of the CNMV, other brokers not members of the Spanish Stock Exchanges, banks, savings banks and foreign settlement and clearing systems. The clearance and settlement system and its members are responsible for maintaining records of purchases and sales under the book-entry system. Shares of listed Spanish companies are held in book-entry form. Iberclear, which manages the clearance and settlement system, maintains a registry reflecting the number of shares held by each of its member entities (each, an entidad participante) as well as the amount of such shares held on behalf of beneficial owners. Each member entity, in turn, maintains a registry of the owners of such shares. Spanish law considers the legal owner of the shares to be the member entity appearing in the records of Iberclear as holding the relevant shares in its own name or the investor appearing in the records of the member entity as holding the shares.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The settlement of any transactions must be made within two business days following the date on which the transaction was carried out.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Spanish law considers the legal owner of the shares to be the participant appearing in the records of Iberclear as holding the relevant shares in its own name, or the investor appearing in the records of the participant as holding the shares. Obtaining legal title to shares of a company listed on a Spanish Stock Exchange requires the participation of a Spanish official stockbroker, broker-dealer or other entity authorized under Spanish law to record the transfer of shares. To evidence title to shares, at the owner&#8217;s request, the relevant member entity must issue a certificate of ownership. In the event the owner is a member entity, Iberclear is in charge of the issuance of the certificate with respect to the shares held in the member entity&#8217;s name.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Brokerage commissions are not regulated. Brokers&#8217; fees, to the extent charged, will apply upon transfer of title of shares from the Depositary to a holder of ADSs in exchange for such ADSs, and upon any later sale of such shares by such holder. Transfers of ADSs do not require the participation of an official stockbroker. The Deposit Agreement provides that holders depositing shares with the Depositary in exchange for ADSs or withdrawing shares in exchange for ADSs will pay the fees of the official stockbroker or other person or entity authorized under Spanish law applicable both to such holder and to the Depositary.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2015, due to changes introduced into the applicable legislation (Laws 32/2011 of October 4, and 11/2015 of June 18, amended the LMV and Royal Decree 878/2015 replaced Royal Decree 116/1992; introducing changes to the Spanish clearing, settlement and book-entry registry procedures applicable to securities transactions to allow post-trading Spanish systems to integrate into the TARGET2 Securities System (T2S)), Bolsas y Mercados Espa&#241;oles developed a Clearing and Settlement Reform in Spain, implemented throughout 2016 and 2017 in two main phases:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">on April 27, 2016, when a new Central Counterparty (CCP) was implemented and the new platform for equity settlement was introduced; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">on September 18, 2017, when the Fixed Income settlement system was introduced to the new platform and the TARGET2-Securities (TS2) was implemented and Iberclear successfully connected itself to T2S. During the last quarter of 2017, Iberclear filed for authorization as Central Securities Depository. On September 23, 2019, Iberclear made public that it had been granted the authorization to continue providing services as a Central Securities Depositary.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This reform involved the following three fundamental modifications, having impact on several operating practices:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:4.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">A new Central Counterparty was incorporated, the so-called BME Clearing, whose intervention takes place between the contract and settlement date, assuming the risk of the counterparty and, where applicable, conducting the clearing transactions and simplifying the settlement.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">139</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:4.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Another modification was the application in all kinds of securities of a new system of recording, clearing and settlement. This sole system eliminates the need to use register references by introducing a register based on balances, where Iberclear and each member entity manages its respective records.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:4.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">The third modification refers to the integration of the Central de Anotaciones de Deuda (CADE) and the Servicio de Compensaci&#243;n y Liquidaci&#243;n de Valores (SLCV) system into a unique platform.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Spanish equity market is structured around the three following infrastructures: the Spanish Stock Exchange Interconnection System (SIBE) trading platform, BME Clearing and Iberclear (the Central Securities Depository).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As consequence of the above, several modifications have occurred such as: (i) financial entities can be members of the new infrastructures; (ii) Stock Exchange members have to contract with a General Clearing member of the CCP; (iii) CCP members have to contract with an Iberclear Settlement Participant; (iv) CCP formulates the netting of transactions prior to settlement instructions; (v) the existence of Individual Accounts in the CCP and the Central Securities Deposit; (vi) the maximization of settle transaction in case of delay of delivery of securities by Iberclear; (vii) Collective Deposit change into the CCP guarantee system; or (viii) the introduction of the Post Trading Interface communication system.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, changes are also applicable to the Trading Member systems in relation with trading, post trading and control procedures, in order to adapt to the new regime.</span></div><div id="i2ad619f032b2435680b3f6486d100018_145"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Plan of Distribution</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_148"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Markets</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see &#8220;&#8212;Offer and Listing Details&#8221; above.</span></div><div id="i2ad619f032b2435680b3f6486d100018_151"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">D. Selling Shareholders</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_154"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">E. Dilution</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_157"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">F. Expenses of the Issue</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_160"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 10. Additional Information</span></div><div id="i2ad619f032b2435680b3f6486d100018_163"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">A. Share Capital</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_166"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">B. Memorandum and Articles of Association</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following summary describes certain material considerations concerning our capital stock and briefly describes certain provisions of our bylaws and Spanish law.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Corporate Objectives</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Article 5 of Title I of our bylaws sets forth our corporate purposes:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The provision and operation of all kinds of public or private telecommunications services and, for such purpose, the design, installation, maintenance, repair, improvement, acquisition, disposition, interconnection, management, administration of, and any other activity not included in the preceding enumeration with respect to, all kinds of telecommunications networks, lines, satellites, equipment, systems and technical infrastructure whether now existing or to be created in the future, including the premises in which any and all of the foregoing items are located;</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">140</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the provision and operation of all kinds of services that are ancillary or supplemental to or result from telecommunications services;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the research and development, promotion and application of all kinds of component principles, equipment and systems directly or indirectly used for telecommunications;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">manufacturing and production activities and, in general, all other forms of industrial activity in connection with telecommunications; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the acquisition, disposition and, in general, all other forms of commercial activity in connection with telecommunications.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Director Qualification</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to be elected as a director, a person must have held a number of our shares representing a nominal value of no less than 3,000 euros for at least three years prior to his or her election. These shares may not be transferred so long as such person remains a director. This requirement does not apply to any person who, at the time of his or her appointment, has either a labor or professional relationship with the company or is expressly exempted from such requirement by a vote of at least 85% of the Board of Directors.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interested Transactions</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When a director or persons related to him or her has an interest in a transaction with us or with any of the companies of our Group, such transaction (if unrelated to the ordinary course of our business or if not performed on an arm&#8217;s-length basis involving consideration that is significant to the Company and otherwise) must be presented to the Nominating, Compensation and Corporate Governance Committee. Such committee shall assess the transaction from the point of view of equal treatment of shareholders and the arm&#8217;s-length basis of the transaction and shall be included in the Annual Corporate Governance Report and in the periodic information of the Company upon the terms set forth in applicable laws and regulations. The performance of such transactions requires the authorization of our Board of Directors, after the favorable report of the committee. The interested director must refrain from participating in votes that affect such transaction.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Significant Differences in Corporate Governance Practices</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Corporate governance guidelines</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a description of our corporate governance practices see &#8220;Item 16G. Corporate Governance&#8221;.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Description of Our Capital Stock</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Description of share capital</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At February 23, 2023, our issued share capital consisted of 5,775,237,554 ordinary registered shares with a nominal value of 1.00 euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our shareholders delegated to the Board of Directors the authority to issue up to 2,596,065,843 new shares (equal to half of Telef&#243;nica&#8217;s share capital on June 12, 2020, the date of the authorization). The Board of Directors is authorized to exclude preemptive rights, in whole or in part, pursuant to the applicable provisions of the Spanish Corporation Act. However, the power to exclude pre-emptive rights is limited to shares amounting to up to 20% of the share capital on June 12, 2020, the date of the authorization. The Board&#8217;s authorization to issue new shares expires on June 12, 2025.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Meetings and voting rights</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We hold our ordinary general shareholders&#8217; meeting during the first six months of each fiscal year on a date fixed by the Board of Directors. Extraordinary general shareholders&#8217; meetings may be called, from time to time, at the discretion of our Board of Directors or upon the request of shareholders representing at least 3% of our paid-in share capital. The minimum percentage required to exercise this right was lowered from 5% to 3% by Law 31/2014.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We publish notices of all ordinary and extraordinary general shareholders&#8217; meetings in one of the more widely circulated newspapers in Spain and on the website of the CNMV, and on our website in due time pursuant to the Spanish Corporation Act, being on a general basis at least one month before the relevant meeting. Furthermore, the </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">141</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Board of Directors may publish notices in other media, if deemed appropriate to ensure the public and effective dissemination of the notice meeting.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Each share of Telef&#243;nica, S.A. entitles the holder to one vote. However, only registered holders of at least 300 shares are entitled to attend a general shareholders&#8217; meeting. Holders of a lesser number of shares may grant a proxy in respect thereof to a shareholder having the right to attend, as well as group together with other shareholders in the same situation until reaching the required number of shares, following which a proxy must be granted by the shareholders so grouped together to one of such shareholders. The grouping must be carried out specifically for each General Shareholders&#8217; Meeting and be recorded in writing.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, under our bylaws, the maximum number of votes that a shareholder may cast is capped at 10% of our total outstanding voting capital. In determining the maximum number of votes that each shareholder may cast, only the shares held by such shareholder are counted, disregarding those that correspond to other shareholders who have appointed such shareholder as his or her proxy, in spite of applying the limit individually to each of the represented shareholders. This cap will also apply to the maximum number of votes that may be collectively or individually cast by two or more shareholder companies belonging to the same group of entities, as well as to the maximum number of votes that may be cast by an individual or corporate shareholder and the entity or entities that are shareholders themselves and which are directly or indirectly controlled by that individual or corporate shareholder. Moreover, in accordance with the Spanish Corporation Act, such cap would become ineffective where the bidder reaches, as a consequence of a tender offer, a percentage equal to or greater than 70% of the share capital carrying voting rights, unless the bidder (or those acting in concert with the bidder) is not subject to equivalent neutralization measures or has not adopted them.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, according to Article 34 of Spanish Royal Decree-Law 6/2000 of June 23 on urgent measures to improve competition in the goods and services markets, individuals and legal entities directly and indirectly holding more than 3% of the total share capital or voting rights of two or more principal operator companies in Spain in, among other markets, the fixed-line and mobile-line telephony markets, may not exercise their voting rights in excess of 3% of the total in more than one company, except with the prior authorization of the Spanish National Markets and Competition Commission (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Comisi&#243;n Nacional de los Mercados y la Competencia</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CNMC</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;)). Principal operators are defined as one of the five operators with the largest market share in the corresponding market (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Principal Operators</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). In addition, no individual or legal entity is allowed to appoint, directly or indirectly, members of the management body of more than one Principal Operator in, among others, the fixed-line or mobile-line telephony markets, except with the prior authorization of the CNMC. Additionally, individuals or legal entities considered Principal Operators are not allowed to exercise more than 3% of the voting rights of another Principal Operator nor to appoint, directly or indirectly, members of the management body of any Principal Operator, except, in both cases, with the prior authorization of the CNMC. Telef&#243;nica is considered a Principal Operator for the purposes of Article 34 of Royal Decree-Law 6/2000 of June 23 in the Spanish fixed-line and mobile-line telephony markets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any share may be voted by proxy. The proxies may be granted in writing or electronically and are valid only for a single meeting, unless the proxy-holder is the granting shareholder&#8217;s spouse, ascendant or descendant, or holds a general power of attorney granted in a public instrument with powers to manage all of the assets held by the shareholder granting the proxy in Spain. Under the Deposit Agreement relating to our ADSs, the Depositary accepts voting instructions from holders of ADSs. The Depositary executes such instructions to the extent permitted by law and by the terms governing the shares and ADSs. The Depositary or its nominee, as the case may be, will be entitled to vote by proxy the shares underlying the relevant ADSs.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Only holders of record five days prior to the day on which a general meeting of shareholders is scheduled to be held may attend and vote at the meeting.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to the Spanish Corporation Act, as amended by Law 31/2014, the general shareholders&#8217; meeting will be quorate on first call if the shareholders present, in person or by proxy, hold at least 25% of the subscribed share capital carrying voting rights. On second call, the meeting will be quorate regardless of the capital in attendance.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, if the agenda of the meeting includes resolutions on the amendment of the bylaws, including an increase or reduction of share capital, the transformation, merger, split-off, the en bloc assignment of assets and liabilities, the migration of the registered office abroad, the issuance of debentures or the exclusion or limitation of preemptive rights, the required quorum on first call must be met by the attendance of shareholders representing at least 50% of the subscribed share capital carrying voting rights (each a &#8220;Special Resolution&#8221;). On second call, the attendance of 25% of the subscribed share capital carrying voting rights will suffice.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">142</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a general rule, resolutions at the general shareholder&#8217;s meeting will be passed by a simple majority of votes cast at such meeting (i.e., provided that the votes "for" outnumber the votes "against" the relevant resolution).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In contrast, in order to approve any Special Resolution, if the capital present or represented at the general shareholders&#8217; meeting exceeds 50% of the subscribed share capital carrying voting rights, the favorable vote of the absolute majority (that is, if the votes in favor exceed 50% of the votes corresponding to capital present and represented at the shareholders&#8217; meeting) will be required. If, on second call, shareholders representing 25% or more of the subscribed share capital carrying voting rights are present or represented but fail to reach the 50% threshold, the favorable vote of at least two-thirds of the share capital present or represented at the meeting will be required.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restrictions on foreign investment</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exchange controls and foreign investments are regulated under Law 19/2003, of July 4 (&#8220;Law 19/2003&#8221;), as amended pursuant to Royal Decree-Law 8/2020, of March 17, Royal Decree-Law 11/2020, of March 31 and Royal Decree-Law 34/2020, of November 17 (as amended by Royal-Decree Law 12/2021, of June 24, Royal-Decree Law 27/2021 of November 23 and Royal-Decree Law 20/2022 of December 27). Foreign investments are generally liberalized unless they fall within the scope of article 7 bis of Law 19/2003, enacted in March 2020 through Royal Decree-Law 8/2020, or&#8212;only with respect to investments in the defense sector&#8212;article 11 of Royal Decree 664/1999, of 23 April.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Article 7 bis of Law 19/2003 establishes a screening mechanism for certain investments made by non-EU and non-EFTA residents, based on public order, public health and public security reasons (the &#8220;Screening Mechanism&#8221;). The Screening Mechanism aligns part of the Spanish foreign investment legal framework with Regulation (EU) 2019/452 of March 19, 2019 establishing a framework for the screening of foreign direct investments into the European Union. Certain provisions of Regulation (EU) 2019/452&#8212;such as the list of sectors affecting public order and public security or the definition of state-owned enterprises and other similar investors&#8212;are mirrored in the regulations establishing the Screening Mechanism. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Screening Mechanism can be summarized as follows:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Under the ordinary procedure, prior authorization from the Spanish Council of Ministers (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Consejo de Ministros</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) is required to close foreign direct investments subject to it. The legal term to issue a decision is six months.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On a transitional basis, until the Screening Mechanism is further developed, a fast-track 30-day procedure, whose resolution is to be issued by a lower-tier authority (the General Directorate for International Trade and Investments&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Direcci&#243;n General de Comercio Internacional e Inversiones</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), applies for investments below 5 million euros. Investments below 1 million euros are not subject to the Screening Mechanism.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Under both the ordinary and fast-track procedures, the investment will be deemed unauthorized if the relevant authority does not respond to the authorization request within the corresponding legal term.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of the Screening Mechanism, the following persons are deemed to be &#8220;foreign investors&#8221;:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">non-EU and non-EFTA residents; and</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">EU or EFTA residents beneficially owned by non-EU and non-EFTA residents. This occurs when non-EU and non-EFTA residents ultimately possess or control, directly or indirectly, more than 25% of the share capital or voting rights of the investor, or otherwise exercise control, directly or indirectly, over the investor.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, effective November 19, 2020 and until December 31, 2024, the following persons will also be deemed to be &#8220;foreign investors&#8221;, provided they invest in listed companies or the investment value exceeds 500 million euros&#8212;for investments in private companies:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">EU and EFTA residents in countries other than Spain, and</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Spanish residents beneficially owned by EU or EFTA residents in countries other than Spain, that is, those in which a EU or EFTA resident other than in Spain ultimately owns or controls more than 25% of the share capital or voting rights of, or otherwise exercises control over, the Spanish resident.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign direct investments ("FDI") are:</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">143</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">investments that result in a foreign investor reaching a stake of at least 10% of the share capital of a Spanish company; and</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">any corporate transaction, business action or legal transaction which enables effective participation in the management or control of a Spanish company or of a whole part or branch of activity of a Spanish company.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not all foreign direct investments are subject to the Screening Mechanism. Investors are subject to the Screening Mechanism only if they qualify as FDI and the investment is made in one of the critical sectors or&#8212;only where the investor is a Non-UE or non-EFTA investor&#8212;by investors that meet certain subjective criteria regardless of the business of the target. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign direct investments in the following sectors are subject to the Screening Mechanism:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Critical infrastructure, whether physical or virtual, including energy, transport, water, health, communications, media, data processing or storage, aerospace, defense, electoral or financial infrastructure, and sensitive facilities, as well as land and real estate crucial for the use of such infrastructure. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Critical technologies and dual use items as defined in point 1 of Article 2 of Council Regulation (EC) No 428/2009, including Artificial Intelligence, robotics, semiconductors, cybersecurity, aerospace, defense, energy storage, quantum and nuclear technologies as well as nanotechnologies and biotechnologies. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Supply of critical inputs, including energy or raw materials, as well as food security. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Sectors with access to sensitive information, including personal data, or the ability to control such information. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Media. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Other sectors designated by the Spanish government from time to time that may affect public security, order or health.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are engaged in activities that are included in one or more sectors listed above. As such, FDI in Telef&#243;nica may be subject to the Screening Mechanism if the conditions described in this section are satisfied.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign direct investments by the following non-EU and non-EFTA investors are also subject to the Screening Mechanism, regardless of the business of the target:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Investors directly or indirectly controlled by a non-EU and non-EFTA government, including state bodies, armed forces or sovereign wealth funds; the possibility of exercising decisive influence as a result of an agreement or through the ownership of shares or interests in another person (directly or indirectly) is deemed to constitute &#8220;control&#8221; for these purposes. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Investors that have already made an investment affecting national security, public order or public health in another EU Member State, including an investment in any of the above-mentioned sectors.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">If there is a serious risk that the investor engages in illegal or criminal activities affecting national security, public order or public health in Spain.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, article 11 of Royal Decree 664/1999, of April 23, establishes that FDI carried out by non-residents in companies engaged in activities qualified as relevant for national defense, will be subject to the Screening Mechanism. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gun jumping the Screening Mechanism will render the transaction invalid and without any legal effect until the required authorization is obtained. In addition, fines up to the value of the investment could be imposed. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, Royal Decree 664/1999, of April 23, establishes that non-Spanish foreign investors who are not resident in a tax haven are required to file a notification with the Spanish Registry of Foreign Investments following an investment or divestiture, if any, solely for statistical, economic and administrative purposes. Where the investment or divestiture is made in shares of Spanish companies listed on any of the Spanish Stock Exchanges, the duty to provide notice of a foreign investment or divestiture lies with the relevant entity with whom the shares (in book-entry form) have been deposited or which has acted as an intermediary in connection with the investment or divestiture. </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">144</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the foreign investor is a resident of a tax haven, as defined under Spanish law (Royal Decree 1080/1991, of July 5), notice must be provided to the Registry of Foreign Investments prior to making the investment, as well as after consummating the transaction. However, prior notification is not necessary in the following cases:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">investments in listed securities, whether or not trading on an official secondary market;</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">investments in participations in investment funds registered with the CNMV; and </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">foreign shareholdings that do not exceed 50.0% of the capital of the Spanish company in which the investment is made. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional regulations to those described above apply to investments in some specific industries, including air transportation, mining, manufacturing and sales of weapons and explosives for civil use and national defense, radio, television, telecommunications and gambling. These restrictions do not apply to investments made by EU residents, other than investments by EU residents in activities relating to the Spanish defense sector or the manufacturing and sale of weapons and explosives for non-military use.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Preemptive Rights</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Spanish Corporation Act, shareholders have preemptive rights to subscribe for any new shares in capital increases with issuances of new shares with a charge to monetary contributions and in issuances of debentures convertible into shares. Such rights may be excluded (partially or totally) under special circumstances by virtue of a resolution passed at a general shareholders&#8217; meeting in accordance with Articles 308, 504 and 506 of the Spanish Corporation Act, or by the Board of Directors, if previously authorized at a general shareholders&#8217; meeting in accordance with Article 506 of the Spanish Corporation Act (for capital increases) and Articles 417 and 511 (for issuances of debentures convertible into shares). Such preemptive rights will not be available in the event of an increase in capital to meet the requirements of a convertible bond issue or a merger or demerger of another entity into Telef&#243;nica or of all or part of the assets split from another company, in which shares are issued as consideration or, in general, when the increase is carried out as consideration in exchange for non-cash contributions. Such rights are transferable, may be traded on the Automated Quotation System and may be of value to existing shareholders because new shares may be offered for subscription at prices lower than prevailing market prices.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Form and Transfer</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ordinary shares are in book-entry form and are indivisible. Joint holders must nominate one person to exercise their rights as shareholders, though joint holders are jointly and severally liable for all obligations arising from their status as shareholders. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Sociedad de Gesti&#243;n de los Sistemas de Registro, Compensaci&#243;n y Liquidaci&#243;n de Valores, S.A. Unipersonal</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Iberclear</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), which manages the clearance and settlement system of the Spanish Stock Exchanges, maintains the central registry of ordinary shares reflecting the number of ordinary shares held by each of its participant entities (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">entidades participantes</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) as well as the number of such shares held by registered legal owners. Each participant entity in turn maintains a register of the owners of such shares.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transfers of Telef&#243;nica&#8217;s ordinary shares quoted on the Spanish Stock Exchanges must be made by book-entry registry or delivery of evidence of title to the buyer through, or with the participation of, a member of the Spanish Stock Exchanges that is an authorized broker or dealer. Transfers of Telef&#243;nica&#8217;s ordinary shares may also be subject to certain fees and expenses.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reporting Requirements</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to Royal Decree 1362/2007 of October 19 on the disclosure of significant stakes in listed companies (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Royal Decree 1362/2007</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), which was modified by Royal Decree 878/2015, the acquisition or disposition of shares of Telef&#243;nica must be reported within four trading days of the acquisition or disposition to Telef&#243;nica and the CNMV, where:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">in the case of an acquisition, the acquisition results in that person or group holding a number of voting rights in Telef&#243;nica that reaches or surpasses 3% (or 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 60%, 70%, 75%, 80% or 90%) of Telef&#243;nica&#8217;s total number of voting rights; or</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">in the case of a disposal, the disposition reduces the number of voting rights held by a person or group below a threshold of 3% (or 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 60%, 70%, 75%, 80% or 90%) of Telef&#243;nica&#8217;s total number of voting rights.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">145</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Royal Decree 878/2015 established a new approach for calculating whether these thresholds are reached, surpassed or fell short which requires adding the voting rights corresponding to shares and financial instruments. Royal Decree 878/2015 also expands the definition of financial instruments which should be reported, including financial instruments having a similar economic effect as the shares of a company, whether the instruments are cash or physically settled, including convertible securities, options, forwards, futures, swaps, CFDs or any other type of instrument which grants the holder the right to acquire shares or a right to receive an equivalent cash settlement amount. Additionally, Royal Decree 878/2015 amends the calculation rules of the voting rights attributable to a financial instrument which, among other changes, shall now be calculated on a daily basis.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reporting requirements referred to above apply not only to the acquisition or transfer of shares, but also when, without an acquisition or transfer of shares, the proportion of voting rights of an individual or legal entity reaches, exceeds or falls below the threshold that triggers the obligation to report as a consequence of a change in the total number of voting rights of Telef&#243;nica on the basis of the information reported to the CNMV and disclosed by it, in accordance with the Royal Decree.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regardless of the actual ownership of the shares, any individual or legal entity with a right to acquire, transfer or exercise voting rights granted by the shares, and any individual or legal entity who owns, acquires or transfers, whether directly or indirectly, other securities or financial instruments which grant a right to acquire shares carrying voting rights (such as transferable securities, options, futures, swaps, forwards and other derivative contracts), will also have an obligation to notify the company and the CNMV of the holding of a significant stake in accordance with the above-mentioned regulations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stricter disclosure obligations apply if the person obligated to disclose has residency in a country considered a tax haven by the Spanish authorities, a zero-taxation country or territory or a country or territory that does not share information with the Spanish authorities, in which cases the initial threshold for disclosure is reduced to 1% (and successive multiples of 1%).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Market Abuse Regulation</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), persons discharging managerial responsibilities, as well as persons closely associated with them, shall notify Telef&#243;nica and the CNMV of every transaction conducted on their own account relating to our shares or debt instruments or to derivatives or other financial instruments linked thereto. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to the Market Abuse Regulation a "person discharging managerial responsibilities" means a person within an issuer, who is: (a) a member of the administrative, management or supervisory body of that entity; or (b) a senior executive who is not a member of the bodies referred to in (a), who has regular access to inside information relating directly or indirectly to that entity and power to take managerial decisions affecting the future developments and business prospects of that entity. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, in accordance with Article 230 of the LMV, the obligation to notify the transactions will arise when, within a calendar year, the sum without netting of all transactions reaches 20,000 euros. From that first communication, persons discharging managerial responsibilities and the persons closely associated with them must notify each and every subsequent transaction.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As stated above, disclosure obligations are primarily regulated by Royal Decree 1362/2007 (as amended), by the Market Abuse Regulation and by the LMV which establish a detailed set of rules on this legal framework (including, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">inter alia</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, rules determining the persons subject to disclosure obligations, the different types of situations triggering disclosure and the corresponding exceptions, specific attribution and aggregation rules, the deadlines to notify the transactions, triggering disclosure obligations and incorporation of notices submitted to the CNMV&#8217;s public registry).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Disclosure of Net Short Positions</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with Regulation (EU) No. 236/2012 of the European Parliament and of the European Council as regards the adjustment of the relevant threshold for the notification of significant net short positions in shares, as amended by the Commission Delegated Regulation (EU) 2022/27 of September 27, 2021 (which entered into force on January 31, 2022), net short positions on shares listed on the Spanish Stock Exchanges equal to, or in excess of, 0.1% (0.2% before the latest amendment) of the relevant issuer&#8217;s share capital and each 0.1% above that, are required to be disclosed to the CNMV by no later than the first trading day following the transaction. If the net short position reaches 0.5%, and also at every 0.1% above that, the CNMV will disclose the net short position to the public.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">146</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notification is mandatory even if the same position has been already notified to the CNMV in compliance with reporting requirements previously in force in Spain.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The information to be disclosed is set out in Table 1 of Annex I of Delegated Regulation 826/2012, according to the format approved as Annex II of this Regulation. The information will be published, where appropriate, on a web page operated or supervised by the corresponding authority.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Moreover, pursuant to Regulation (EU) No. 236/2012, where the CNMV considers that (i) there are adverse events or developments that constitute a serious threat to financial stability or to market confidence (serious financial, monetary or budgetary problems, which may lead to financial instability, unusual volatility causing significant downward spirals in any financial instrument, etc.); and (ii) the measure is necessary and will not be disproportionately detrimental to the efficiency of financial markets in view of the advantages sought, it may, following consultation with the European Securities and Market Authority (&#8220;ESMA&#8221;), take any one or more of the following measures:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">impose additional notification obligations by either (a) reducing the thresholds for the notification of net short positions in relation to one or several specific financial instruments; and/or (b) requesting the parties involved in the lending of a specific financial instrument to notify any change in the fees requested for such lending; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">restrict short selling activity by either prohibiting or imposing conditions on short selling.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, according to Regulation (EU) No. 236/2012, where the price of a financial instrument has fallen significantly during a single day in relation to the closing price on the previous trading day (10% or more in the case of a liquid share), the CNMV may prohibit or restrict short selling of financial instruments for a period not exceeding the end of the trading day following the trading day on which the fall in price occurs.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, Regulation (EU) No. 236/2012 also vests powers to ESMA in order to take measures similar to the ones described above in exceptional circumstances, when the purpose of these measures is to deal with a threat affecting several EU member states and the competent authorities of these member states have not taken adequate measures to address it.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Shareholder Agreements</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Article 531 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">et seq.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of the Spanish Corporation Act require parties to disclose those shareholders&#8217; agreements in respect of Spanish listed companies that affect the exercise of voting rights at a general shareholders&#8217; meeting or contain restrictions or conditions on the transferability of shares or bonds that are convertible or exchangeable into shares. If any shareholders enter into such agreements with respect to Telef&#243;nica&#8217;s shares, they must disclose the execution, amendment or extension of such agreements to Telef&#243;nica and the CNMV (together with the relevant clauses of said agreements) and file such agreements with the appropriate Commercial Registry. Failure to comply with these disclosure obligations renders any such shareholders&#8217; agreement unenforceable and constitutes a violation of the LMV.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Own Shares</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to Spanish corporate law, we may only repurchase our own shares within certain limits and in compliance with the following requirements:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the repurchase must be authorized by the general shareholders&#8217; meeting by a resolution establishing the maximum number of shares to be acquired, the minimum and maximum acquisition price and the duration of the authorization, which may not exceed five years from the date of the resolution; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the repurchase, including any shares already held by us or a person acting on our behalf, must not bring our net worth below the aggregate amount of our share capital and legal reserves.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For these purposes, net worth means the amount resulting from the application of the criteria used to draw up the financial statements, subtracting the amount of profits directly imputed to that net worth, and adding the amount of share capital subscribed but not called and the share capital par and issue premiums recorded in our accounts as liabilities. In addition:</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">147</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the aggregate par value of the shares directly or indirectly repurchased, together with the aggregate par value of the shares already held by us and our subsidiaries, must not exceed 10% of our share capital; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the shares repurchased must be fully paid and must be free of ancillary contributions (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">prestaciones accesorias</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Voting rights attached to treasury shares will be suspended and economic rights (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">e.g.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the right to receive dividends and other distributions and liquidation rights), except the right to receive bonus shares, will accrue proportionately to all of our shareholders. Treasury shares are counted for the purpose of establishing the quorum for shareholders&#8217; meetings and majority voting requirements to pass resolutions at shareholders&#8217; meetings.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regulation (EU) No. 596/2014 of April 16, repealing, among others, Directive 2003/6/EC of the European Parliament and the European Council of January 28, on insider dealing and market manipulation establishes rules in order to ensure the integrity of European Community financial markets and to enhance investor confidence in those markets. This regulation maintains an exemption from the market manipulation rules regarding share buyback programs by companies listed on a stock exchange in an EU Member State. Commission Regulation (EC) No. 2273/2003, of December 22, implemented the aforementioned directive with regard to exemptions for buyback programs. Article&#160;5 of this regulation states that in order to benefit from the exemption, a buyback program must comply with certain requirements established under such regulation and the sole purpose of the buyback program must be to reduce the share capital of an issuer (in value or in number of shares) or to meet obligations arising from either of the following:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">debt financial instruments exchangeable into equity instruments; or</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">employee share option programs or other allocations of shares to employees of the issuer or an associated company.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CNMV Circular 1/2017, dated April 26, on liquidity contracts entered into by issuers with financial institutions for the management of its treasury shares, as amended by CNMV Circular 2/2019, dated November 27, governs the disclosure requirements for issuers and the rules of conduct to be followed by financial intermediaries when trading under a liquidity agreement for these trades to benefit from the safe harbor provided by such Circular and qualify as an accepted market practice for the purposes of market abuse regulations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an acquisition or series of acquisitions of shares of Telef&#243;nica reaches or exceeds or causes Telef&#243;nica&#8217;s and its affiliates&#8217; holdings to reach or exceed 1% of Telef&#243;nica&#8217;s voting shares, Telef&#243;nica must notify its final holding of treasury stock to the CNMV. If such threshold is reached as a result of a series of acquisitions, such reporting obligation will only arise after the closing of the acquisition which, taken together with all acquisitions made since the last of any such notifications, causes the Telef&#243;nica&#8217;s and its affiliates holdings to exceed, 1% of Telef&#243;nica&#8217;s voting shares. Sales and other dispositions of Telef&#243;nica&#8217;s treasury stock will not be deducted in the calculation of such threshold. This requirement also applies if the stock is acquired by a majority-owned subsidiary of Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Moreover, pursuant to Spanish corporate law, the audited financial statements of a company must include a reference regarding any treasury shares.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, we held 85,217,621 shares of treasury stock, representing 1.47600% of our capital stock. At December 31, 2021, we held 139,329,370 shares of treasury stock, representing 2.41100% of our capital stock. For further description about our shareholders&#8217; return, see &#8220;Item 8. Financial Information&#8212;Dividend Information and Shareholders&#8217; Return&#8221;.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At our annual general shareholders' meeting held on June 8, 2018, our shareholders extended their prior authorization to the Board of Directors to acquire our shares for an additional five years from the date of such meeting. The authorization also applies to companies under our control. Pursuant to the authorization, the aggregate nominal value of our shares held by us or any of our subsidiaries cannot exceed the limit established by applicable laws (which is, as of the date of this Annual Report, 10% of our outstanding capital).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Change of Control Provisions</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain antitrust regulations may delay, defer or prevent a change of control of Telef&#243;nica or any of its subsidiaries in the event of a merger, acquisition or corporate restructuring. In Spain, the application of both Spanish and European antitrust regulations requires that prior notice of domestic or cross-border merger transactions be given in order to obtain a &#8220;non-opposition&#8221; ruling from antitrust authorities.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">148</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tender Offers</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tender offers are governed in Spain by the Spanish Securities Markets Act (as amended by Law 6/2007 of April 12) and Royal Decree 1066/2007, of July 27, which have implemented Directive 2004/25/EC of the European Parliament and of the European Council of April 21. Tender offers in Spain may qualify as either mandatory or voluntary offers.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mandatory public tender offers must be launched for all the shares of the target company or other securities that might directly or indirectly give the right to subscription thereto or acquisition thereof (including convertible and exchangeable bonds) at an equitable price and not subject to any conditions when any person acquires control of a Spanish company listed on the Spanish Stock Exchanges, whether such control is obtained:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">by means of the acquisition of shares or other securities that directly or indirectly give voting rights in such company;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">through agreements with shareholders or other holders of said securities; or</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">as a result of other situations of equivalent effect as provided in the regulations (i.e., indirect control acquired through mergers, share capital decreases, target&#8217;s treasury stock variations or securities exchange or conversion, etc.).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A person is deemed to have obtained the control of a target company, individually or jointly with concerted parties, whenever:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">it acquires, directly or indirectly, a percentage of voting rights equal to or greater than 30%; or</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">it has acquired a percentage of less than 30% of the voting rights and appoints, in the 24 months following the date of acquisition of said percentage, a number of directors that, together with those already appointed, if any, represent more than one-half of the members of the target company&#8217;s board of directors. Regulations also set forth certain situations where directors are deemed to have been appointed by the bidder or persons acting in concert therewith unless evidence to the contrary is provided.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, Spanish regulations establish certain exceptional situations where control is obtained but no mandatory tender offer is required, including, among others:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">subject to the CNMV&#8217;s approval,</span></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">acquisitions or other transactions resulting from the conversion or capitalization of credits into shares of listed companies, the financial feasibility of which is subject to serious and imminent danger, even if the company is not undergoing bankruptcy proceedings, provided that such transactions are intended to ensure the company&#8217;s financial recovery in the long term; or</span></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">in the event of a merger, provided that those acquiring control did not vote in favor of the merger at the relevant general shareholders&#8217; meeting of the offeree company and provided also that it can be shown that the primary purpose of the transaction is not the takeover but an industrial or corporate purpose; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">when control has been obtained after a voluntary bid for all of the securities, if either the bid has been made at an equitable price or has been accepted by holders of securities representing at least 50% of the voting rights to which the bid was directed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of calculating the percentages of voting rights acquired, the regulations establish the following rules:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">percentages of voting rights corresponding to (i) companies belonging to the same group of the bidder; (ii) members of the board of directors of the bidder or of companies of its group; (iii) persons acting for the account of or in concert with the bidder (a concert party shall be deemed to exist when two or more persons collaborate under an agreement, be it express or implied, oral or written, in order to obtain control of the offeree company); (iv) voting rights exercised freely and over an extended period by the bidder under proxy granted by the actual holders or owners of such rights in the absence of specific instructions with respect thereto; and (v) shares held by a nominee, such nominee being understood as a third party whom the bidder totally or partially covers against the risks inherent in acquisitions or transfers of the shares or the </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">149</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">possession thereof, will be deemed to be held by the bidder (including the voting rights attaching to shares that constitute the underlying asset or the subject matter of financial contracts or swaps when such contracts or swaps cover, in whole or in part, against the risks inherent in ownership of the securities and have, as a result, an effect similar to that of holding shares through a nominee);</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">both the voting rights arising from the ownership of shares and those enjoyed under a usufruct or pledge or upon any other title of a contractual nature will be counted towards establishing the number of voting rights held;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the percentage of voting rights shall be calculated based on the entire number of shares carrying voting rights, even if the exercise of such rights has been suspended; voting rights attached to treasury shares shall be excluded; and non-voting shares shall be taken into consideration only when they carry voting rights pursuant to applicable law; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">acquisitions of securities or other financial instruments giving the right to the subscription, conversion, exchange or acquisition of shares which carry voting rights will not result in the obligation to launch a tender offer either until such subscription, conversion, exchange or acquisition occurs.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the foregoing, upon the terms established in the regulations, the CNMV will conditionally dispense with the obligation to launch a mandatory bid when another person or entity, individually or jointly in concert, directly or indirectly holds an equal or greater voting percentage than the potential bidder in the target company.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The price of the mandatory tender offer is deemed equitable when it is at least equal to the highest price paid or agreed by the bidder or by any person acting in concert therewith for the same securities during the 12 months prior to the announcement of the tender offer. When the mandatory tender offer must be made without the bidder having previously acquired the shares over the above-mentioned 12-month period, the equitable price shall not be less than the price calculated in accordance with other rules set forth in the regulations. In any case, the CNMV may change the price so calculated in certain circumstances (extraordinary events affecting the price, evidence of market manipulation, etc.).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mandatory offers must be launched within one month from the acquisition of the control of the target company.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Voluntary tender offers may be launched when a mandatory offer is not required. Voluntary offers are subject to the same rules established for mandatory offers except for the following:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">they may be subject to certain conditions (such as amendments to the bylaws or adoption of certain resolutions by the target company, acceptance of the offer by a minimum number of securities, approval of the offer by the shareholders&#8217; meeting of the bidder and any other deemed by the CNMV to be in accordance with law), provided that such conditions can be met before the end of the acceptance period of the offer; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">they may be launched at any price, regardless of whether it is lower than the above-mentioned &#8220;equitable price&#8221;. However, if they are not launched at an equitable price and if the tender offer shares representing at least 50% of the voting rights are tendered in the offer (excluding voting rights already held by the bidder and those belonging to shareholders who entered into an agreement with the bidder regarding the tender offer), the bidder may become obliged to launch a mandatory tender offer.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In any case, by virtue of an amendment to the LMV operated by Law 1/2012, of June 22, the price in a voluntary tender offer must be the higher of (i) the equitable price and (ii) the price resulting from an independent valuation report, and must at least consist of cash as an alternative if certain circumstances have occurred during the two years prior to the announcement of the offer (basically, the trading price for the shares being affected by price manipulation practices, market or share prices being affected by natural disasters, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">force majeure</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, or other exceptional events, or the target company being subject to expropriation or confiscation resulting in a significant impairment of the company&#8217;s real value).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Spanish regulations on tender offers set forth further provisions, including:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">subject to shareholder approval within 18 months from the date of announcement of the tender offer, the board of directors of a target company will be exempt from the rule prohibiting frustrating action against a foreign bidder whose board of directors is not subject to an equivalent passivity rule;</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">150</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">defensive measures included in a listed company&#8217;s bylaws and transfer and voting restrictions included in agreements among a listed company&#8217;s shareholders will remain in place whenever the company is the target of a tender offer, unless the shareholders resolve otherwise (in which case any shareholders whose rights are diluted or otherwise adversely affected will be entitled to compensation at the target company&#8217;s expense); and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">squeeze-out and sell-out rights will apply provided that following a tender offer for all the target&#8217;s share capital, the bidder holds securities representing at least 90% of the target company&#8217;s voting capital and the tender offer has been accepted by the holders of securities representing at least 90% of the voting rights other than those held by or attributable to the bidder previously to the offer.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Payment of Taxes</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Holders of ordinary shares will be responsible for any taxes or other governmental charges payable on their ordinary shares, including any taxes payable on transfer. The paying agent or the transfer agent, as the case may be, may, and upon instruction from Telef&#243;nica, will:</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">refuse to effect any registration of transfer of such ordinary shares or any split-up or combination thereof until such payment is made; or</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">withhold or deduct from any distributions on such ordinary shares or sell for the account of the holder thereof any part or all of such ordinary shares (after attempting by reasonable means to notify such holder prior to such sale), and apply, after deduction for its reasonable expenses incurred in connection therewith, the net proceeds of any such sale to payment of such tax or other governmental charge. The holder of such ordinary shares will remain liable for any deficiency.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shareholders vote on final dividend distributions at the shareholders&#8217; meeting. Distributable profits are equal to:</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">net profits for the year; plus</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">profits carried forward from previous years; plus</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">distributable reserves; minus</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">losses carried forward from previous years; minus</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">amounts allocated to reserves as required by law or by our bylaws.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of distributable profits is based on our unconsolidated financial statements prepared in accordance with Spanish GAAP, which differ from the Consolidated Financial Statements prepared in accordance with IFRS included elsewhere in this Annual Report.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors can approve interim dividend payments without a prior shareholder vote on the issue. However, under those circumstances, the dividend is limited to distributable net profits of the current year and is subject to certain legal requirements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unclaimed dividends revert to us five years from their date of payment.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Registration and transfers</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our shares are in registered book-entry form. Transfers executed through stock exchange systems are implemented pursuant to the stock exchange clearing and settlement procedures carried out by the Spanish clearing institution. Transfers executed outside of stock exchange systems, that is, over the counter, are implemented pursuant to the general legal regime for book-entry transfer, including registration by the Spanish clearing institution.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are no restrictions with respect to the transfer of our shares.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidation rights</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under Spanish law, upon our liquidation, the shareholders would be entitled to receive, on a pro rata basis, any assets remaining after the payment of our debts and taxes and liquidation expenses.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">151</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_169"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">C. Material Contracts</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement related to the Sale of Customer Relationship Management (&#8220;CRM&#8221;) Business, Atento </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the sale agreement of Atento by Telef&#243;nica, announced on October 12, 2012, and ratified on December 12, 2012, both companies signed a Master Service Agreement which regulates Atento&#8217;s relationship with the Telef&#243;nica Group as a service provider for a period of nine years and which has been amended on May 16, 2014, November 8, 2016, May 11, 2018, November 28, 2019 and February 4, 2022. The term of the agreement was extended for Spain and Brazil in November 2016, for two additional years until the end of 2023, and for Latin America in February 2022, for one additional year until the end of 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By virtue of this agreement, Atento became Telef&#243;nica&#8217;s preferred Contact Center and Customer Relationship Management (&#8220;CRM&#8221;) 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 Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s business margin to the final calculation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s sales to the Telef&#243;nica Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Master Agreement sets forth a reciprocal arrangement, whereby Atento assumes similar commitments to subscribe certain telecommunications services from Telef&#243;nica.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Football (soccer) License Agreements with LaLiga, UEFA and  RFEF, respectively</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 25, 2018, Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Telef&#243;nica, 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2018, Telef&#243;nica 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 3 seasons). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2019 the definitive agreement on such broadcasting rights (package 6) was signed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 2, 2020 Telef&#243;nica 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, after the expiration of the agreement with Mediapro of June 28, 2018 for previous cycle 2018/2019 to 2020/2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreement guarantees Telef&#243;nica all media rights with respect to the main European football competitions for all its customers, both residential and horecas (hotels, restaurants, cafes, etc.).</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">152</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The direct acquisition from UEFA of this "premium" content will also allow Telef&#243;nica 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.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 previous cycle and without any year-to-year increase.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 13, 2021, Telef&#243;nica was provisionally awarded the exclusive broadcasting rights of five matches per matchday of the Campeonato Nacional de Liga de Primera Divisi&#243;n (&#8220;LaLiga&#8221;), for pay television in the residential market, in Spain. Telef&#243;nica received the first pick in 18 matchdays of each season and second pick in 17 matchdays, including "El Cl&#225;sico" of the second round (Option D bis, Lot D.1 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, Telef&#243;nica was awarded the exclusive broadcasting rights of three matchdays, which contain ten matches each matchday, including matches of Real Madrid C.F., F.C. Barcelona and Club Atl&#233;tico de Madrid against the six first classified of the previous season; and Valencia C.F., Athletic Club de Bilbao or Real Betis Balompi&#233;, if they were not among the aforementioned first classified (Option D bis, Lot D.3 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award includes the cycle 2022/2023 to 2026/2027 although the 2025/2026 and 2026/2027 seasons are subject to the CNMC lifting or modifying the resolution that limits the maximum duration of the contracts entered into by Telef&#243;nica for the acquisition of sports rights (Expte. VC/0612/14).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award has been made at a price of 520&#160;million euros for each of the seasons. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award was subject to the execution of an agreement between Telef&#243;nica and LaLiga with the remaining terms and requirements established in the LaLiga tender, which was signed on January 19, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 28, 2022, Telef&#243;nica entered into an agreement with the company DAZN for the distribution of the so-called DAZN LaLiga Package. Such package includes the remaining five football matches per match-weekend of the Spanish First Division Football Championship, in 35 out of 38 match-weekends for exploitation on pay television for residential subscribers in Spain (Option D bis, Package D.2 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This is a non-exclusive agreement for five seasons, from 2022/2023 to 2026/2027. The agreed value amounts 280&#160;million euros for each of the seasons.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on July 29, 2022, Telef&#243;nica signed a new contract with LaLiga for the non-exclusive broadcasting of the channel that broadcasts matches of Second Division of National Football Championship League for seasons 2022/2023, 2023/2024 and 2024/2025, with Telef&#243;nica&#8217;s unilateral option to extend for two additional seasons, with a variable cost that amounts to approximately 16&#160;million euros per season.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Similarly, on August 4, 2022, a contract was formalized with LaLiga for the non-exclusive broadcast of the LaLiga TV Bar Channel for non-residential subscribers for the 2022/2023 season with a minimum guarantee of 29 million euros, being the final price variable.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2, 2022, Telefonica was also awarded by Real Federacion Espa&#241;ola de f&#250;tbol (RFEF) exclusive pay television rights of Copa del Rey Competiton and Supercopa de Espa&#241;a for seasons 2022/2023, 2023/2024 and 2024/2025. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Agreement for the sale of Telef&#243;nica de Costa Rica </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 20, 2019, Telef&#243;nica, S.A. reached an agreement with Millicom International Cellular, S.A. for the sale of 100% of Telef&#243;nica 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). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the relevant regulatory approvals were obtained and all the remaining conditions set forth in the agreement for the consummation of the sale of Telef&#243;nica de Costa Rica were completed, Millicom International Cellular, S.A. refused to close the acquisition arguing that one of the Costa Rican administrative authorities had not issued the appropriate authorization. On May 25, 2020, Telef&#243;nica filed a lawsuit against Millicom International Cellular, S.A before the New York Supreme Court, considering that Millicom has breached the terms and conditions established in the sale contract. Further details on this legal proceeding against Millicom International Cellular, S.A. are provided </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">153</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in Note 29.a) to the Consolidated Financial Statements and "Item 8. Financial Information&#8212;Consolidated Financial Statements&#8212;Legal proceedings".</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 30, 2020, Telef&#243;nica, S.A. reached an agreement with Liberty Latin America LTD, S.A. for the sale of 100% of Telef&#243;nica de Costa Rica TC, S.A., a company that provides fixed and mobile communications services in Costa Rica. On August 9, 2021, after obtaining the appropriate authorizations, Telef&#243;nica transferred 100% of the shares of Telef&#243;nica de Costa Rica TC, S.A.  for an amount of 538 million U.S. dollars (approximately 457 million euros at the exchange rate as of the closing date). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the sale of a portfolio of data center businesses</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 8, 2019, Telef&#243;nica reached an agreement for the sale of a portfolio of 11 data center businesses located in seven jurisdictions (Spain, Brazil, the United States, Mexico, Peru, Chile and Argentina) to a company controlled by Asterion Industrial Partners SGEIC, S.A. (hereinafter, "Nabiax") for a total amount of 550 million euros to be paid at the time of effective transfer.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time as this sale, agreements were entered into with Nabiax to provide housing services to the Telef&#243;nica Group, allowing Telef&#243;nica to continue providing housing services to its customers, in accordance with its previous commitments.&#160;Such service provision agreements have an initial term of ten years and include minimum consumption commitments in terms of capacity. These commitments are consistent with the Group's expected consumption volumes, while prices are subject to review mechanisms based on inflation and market reality. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 24, 2019, Telef&#243;nica transferred nine data center businesses located in six jurisdictions (Spain, Brazil, Mexico, Peru, Chile and Argentina) to the buyer for a total amount of 472 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 18, 2019, after obtaining the appropriate authorizations, Telef&#243;nica transferred one data center business located in the United States for a total amount of 43 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 23, 2020, after obtaining the appropriate authorizations and fulfilling certain conditions, Telef&#243;nica transferred the last data center located in Spain for a total amount of 34.7 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Hence, following these transfers, as of December 31, 2020, Nabiax was operating eleven data centers sold by Telef&#243;nica. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2021, Asterion Industrial Partners SGEIC, S.A. and Telef&#243;nica Infra (T. Infra), the infrastructure unit of the Telef&#243;nica Group, reached an agreement for the contribution to Nabiax of four additional data centers owned by the Telef&#243;nica Group (two of them located in Spain and two in Chile). In exchange for the contribution of these four data centers, T. Infra will receive a 20% equity stake in Nabiax. Once the relevant authorizations and other conditions precedent to the contribution of the two data centers located in Spain were obtained, the partial closing of the transaction took place as of July 21, 2021, whereby Telef&#243;nica Group contributed those data centers to Nabiax, with T. Infra receiving in exchange a 13.94% stake in Nabiax at this stage. The agreement was complemented by the signing of a contract for the provision to Telef&#243;nica of housing services from those two data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period of ten years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the conditions related to the contribution of the two data centers located in Chile were fulfilled, on May 24, 2022, the complete closing of the transaction took place, and T. Infra reached a 20% stake in Nabiax (see Note 10 to the Consolidated Financial Statements). The agreement was complemented by the signing of a contract for the provision to Telef&#243;nica of housing services from those two data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period ending in 2031.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale Access Services Agreement with AT&amp;T Mexico </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 21, 2019, Pegaso PCS, S.A. de C.V. (&#8220;Telef&#243;nica M&#233;xico&#8221;) and AT&amp;T Comunicaciones Digitales, S. de R.L. de C.V. (&#8220;AT&amp;T Mexico&#8221;) entered into a Wholesale Access Services Agreement (&#8220;Wholesale Agreement&#8221;), under which AT&amp;T Mexico agreed to provide wholesale wireless access to Telef&#243;nica M&#233;xico on 3G, 4G and any other future technology available in Mexico. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Wholesale Agreement has a minimum duration of eight years, renewable for additional consecutive periods of three years. Such Wholesale Agreement establishes a gradual migration of Telef&#243;nica M&#233;xico&#8217;s traffic to AT&amp;T Mexico's access network over the first three years of the agreement.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">154</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As set forth in the Wholesale Agreement such migration was completed during the first half of 2022. As a result, Telef&#243;nica M&#233;xico&#8217;s wireless access infrastructure was turned off and Telef&#243;nica M&#233;xico no longer uses the licensed spectrum that it used in the past to operate its network. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">50:50 joint venture with Liberty Global for the combination of both groups' businesses in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2020, Telef&#243;nica agreed to enter into a joint venture with Liberty Global plc ("Liberty Global") pursuant to a contribution agreement (as amended, the "Contribution Agreement") between Telef&#243;nica, Telefonica O2 Holdings Limited, Liberty Global, Liberty Global Europe 2 Limited and a newly formed entity of which, after closing, each of Telef&#243;nica and Liberty Global would hold 50% of its share capital named VMED O2 UK Limited.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After having obtained the clearance from the Competition and Market Authority (the antitrust authority in the UK) to complete this transaction and having fulfilled all the other pre-closing conditions included in the Contribution Agreement, the transaction was completed on June 1, 2021. From such date, Telef&#243;nica and Liberty Global each hold an equal number of shares in VMED O2 UK Limited; after: (i) Telef&#243;nica having contributed to VMED O2 UK Limited its O2 mobile business in the United Kingdom and (ii) Liberty Global having contributed its Virgin Media business in the United Kingdom to VMED O2 UK Limited.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The corporate governance of VMED O2 UK Limited is regulated by a shareholders' agreement, which was entered into by the parties to the Contribution Agreement on June 1, 2021 (the "Shareholders' Agreement"). The Shareholders' Agreement provides that each of Telef&#243;nica and Liberty Global will designate four of the eight members of the Board of Directors of VMED O2 UK Limited, contains provisions regulating the management of VMED O2 UK Limited, the procedure to pass resolutions on certain reserved matters and distributions to shareholders, and customary non-solicitation, non-compete and information sharing provisions. Likewise, the Shareholders' Agreement provides that each of Telef&#243;nica or Liberty Global will have the right to initiate an initial public offering (IPO) of VMED O2 UK Limited after the third anniversary of the closing of the transaction, with the opportunity for the other shareholder to sell shares in the IPO on a pro rata basis. The Shareholders&#8217; Agreement also includes general restrictions on transfers of interests in VMED O2 UK Limited until the third anniversary of the closing of the transaction, subject to certain limited exceptions. After third anniversary of the closing of the transaction, any of the shareholders may send a notice to the other shareholder to initiate an IPO process as set forth in the Shareholders&#8217; Agreement, and after the fifth anniversary, each shareholder will be able to initiate a sale of VMED O2 UK Limited to a third party in accordance with certain drag procedures, subject to a right of first offer in favor of the other shareholder.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the date of closing of the transaction, Telef&#243;nica, Liberty Global, and certain companies belonging to each shareholder&#8217;s corporate group entered into certain services, reverse services, licensing and data protection agreements with VMED O2 UK Limited and certain entities belonging to the VMED O2 UK Limited group. In particular, Telef&#243;nica and Liberty Global agreed that each shareholder&#8217;s group would provide certain services, either on a transitional or ongoing basis to VMED O2 UK Limited and its group and that, for a limited period of time, VMED O2 UK Limited would also provide certain reverse services to specific companies belonging to the corporate group of each of its shareholders.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the terms of the above referred services agreements, the transitional services that are to be provided by the Telef&#243;nica Group to VMED O2 UK Limited shall be provided for terms ranging from 7 to 24 months while the ongoing services that are to be provided by the Telef&#243;nica Group to VMED O2 UK Limited will be provided for periods of two to six years, depending on the service. The services provided by the Telefonica Group to VMED O2 UK Limited consist primarily of technology and telecommunication services that will be used by or will otherwise benefit VMED O2 UK Limited. In addition to providing VMED O2 UK Limited with such services, the mobile operators of the Telefonica Group and VMED O2 UK Limited will maintain their roaming commercial relationships in order to reciprocally provide roaming services for their respective customers. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, as of closing of the transaction Telef&#243;nica granted certain trademark license agreements to VMED O2 UK Limited (the &#8220;VMED O2 UK Limited Trademark Licenses&#8221;). Pursuant to the VMED O2 UK Limited Trademark Licenses, Telefonica Group licensed the use of Telef&#243;nica and O2 brand rights to VMED O2 UK Limited.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The foregoing description of the Contribution Agreement, the Shareholders&#8217; Agreement and the transaction does not purport to be complete and is qualified in its entirety by reference to the Contribution Agreement and Shareholders&#8217; Agreement, copies of which are filed as Exhibits 10.1 and 10.4, respectively hereto and which are incorporated herein by reference.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">155</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 28, 2021, Telef&#243;nica Brasil executed the Purchase and Sale Agreement of Shares and Other Covenants (the &#8220;Oi Agreement&#8221;), by and among Oi M&#243;vel SA - In Judicial Recovery, as "Seller", Telef&#243;nica Brasil, Tim S.A. and Claro S.A., as &#8220;Buyers&#8221;, and Oi S.A. - In Judicial Recovery and Telemar Norte Leste S.A. - In Judicial Recovery, as intervening parties and guarantors of the seller&#8217;s obligations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the purchase agreement for the acquisition of the assets of Oi Group's mobile business operations  (the "UPI Mobile Assets") took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), a special purpose company, to which the mobile assets of Oi Group assigned to Telef&#243;nica Brasil had been contributed under the segregation plan stated in the Oi Agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount of 5,373 million Brazilian reais (approximately 1,063 million euros at the exchange rate at such date), having paid, on such day, the amount of 4,885 million Brazilian reais (approximately 972 million euros). The remaining amount, equivalent to 10% of the payment made on that date, was withheld and its release is currently subject to certain ongoing discussions regarding price adjustments, as provided for in the Oi Agreement. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, on such date, Telef&#243;nica Brasil: (i) committed to an additional payment of 110 million Brazilian reais (approximately 23 million euros) of which 40 million Brazilian reais were paid at that date (approximately 8 million euros), subject to the fulfilment of certain targets by Oi; (ii) made a payment of approximately 148 million Brazilian reais (approximately 29 million euros) for certain transition services to be provided by Oi to Garliava; and (iii) entered into a take-or-pay data transmission capacity agreement, with a net present value of 179 million Brazilian reais (approximately 35 million euros), to be paid in monthly installments during a period of 10 years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The mobile assets of Oi Group finally assigned to Telef&#243;nica Brasil were the following:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt">Customers: approximately 12.5 million (equivalent to 30% of the total customer base of the mobile assets of Oi Group) &#8211; according to ANATEL&#8217;s February 2022 data;</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt">Spectrum: 43MHz as national population-weighted average (46% of the radiofrequency of the mobile assets of Oi Group); and</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.23pt">Infrastructure: contracts for the use of approximately 2.7 thousand sites of mobile access (corresponding to 19% of the sites of the mobile assets of Oi Group).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All commitments assumed were duly submitted to ANATEL and CADE during 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 3, 2022, Telef&#243;nica Brasil initiated an arbitration procedure against Oi S.A. &#8211; In Judicial Recovery (&#8220;Seller&#8221;), pursuant to the terms of the Oi Agreement, alleging manifest breach by Seller of certain terms of the Oi Agreement, after the exchange of notices about the post-closing price adjustment between Buyers and Seller, upon the competent request of arbitration filed with the Market Arbitration Chamber. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2023, Telef&#243;nica Brasil's Extraordinary Shareholders' Meeting was held and Garliava&#8217;s merger into Telef&#243;nica Brasil was approved, subject to prior approval from ANATEL and the conclusion of certain systemic operations. Once such conditions are fulfilled, Telef&#243;nica Brasil&#8217;s Board of Directors will convene a new meeting to verify the accomplishment of such conditions and to give effects to said merger.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investment Agreement with Allianz and Telef&#243;nica Germany</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 29, 2020, Telef&#243;nica Infra Germany GmbH (&#8220;TEF Infra Germany&#8221;, a subsidiary indirectly wholly-owned by Telef&#243;nica through Telef&#243;nica Infra, S.L.U.) entered into an investment agreement (and related contracts, including a partners&#8217; agreement which sets forth the principles of corporate governance of the joint venture) with several entities belonging to the Allianz Group ("Allianz") and Telef&#243;nica Germany 1. Beteiligungsgesellschaft mbH (a subsidiary wholly-owned by Telef&#243;nica Germany GmbH &amp; Co. OHG) (&#8220;TEF Germany&#8221;) for the creation of a joint venture to deploy Fiber-to-the-Home (FTTH) in Germany, pursuant to which TEF Infra Germany and TEF Germany conditionally agreed to invest up to 500 million euros equity in total (400 million euros by TEF Infra Germany and 100 million euros by TEF Germany) and Allianz conditionally agreed to invest up to 1,000 million euros through different sources of funding over a six year period.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">156</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The closing of the transaction and the acquisition of the joint control took place on December 18, 2020. The registration of Allianz and TEF Germany as limited partners of the joint venture in the German commercial registry occurred on January 21, 2021. After the closing of the transaction, the Allianz Group and the Telef&#243;nica Group each holds 50% in the joint venture under a co-control governance model. Telef&#243;nica Group&#8217;s ownership is held through TEF Infra Germany holding 40% and TEF Germany holding a 10% stake.</span></div><div style="margin-top:9pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreements for the sale by Telxius of its telecommunications towers' divisions in Europe and Latin America</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 13, 2021, Telxius signed two agreements with American Tower International, Inc. (the &#8220;Purchaser&#8221;), 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).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The total consideration for the transactions was 7.7 billion euros (including the Purchaser&#8217;s assumption of certain future committed acquisitions), subject to certain closing adjustments. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreements established the sale of approximately 30,722 telecommunication tower sites through two separate and independent transactions.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Among others, the agreements included the Purchaser&#8217;s commitment to maintain employment post-closing of the transactions and the continuity of the tower lease agreements entered into by Telef&#243;nica Group operators with the companies being sold. Renewal conditions do not include any new "all or nothing" clauses.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the agreement included the transfer to the Purchaser of the towers that Telxius agreed to acquire from Telef&#243;nica Germany GmbH &amp; Co. OHG under the agreement signed on June 8, 2020, including the towers acquired in the first phase on September 1, 2020 and the towers acquired in the second phase on August 2, 2021.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sale of the telecommunications towers' division in Europe (Spain and Germany) closed on June 1, 2021 with Telxius receiving a payment of approximately 6.2 billion euros. In addition, on August 2, 2021 Telxius transferred to ATC, for a purchase price of 0.6 billion euros, the 4,080 sites acquired from Telef&#243;nica Germany GmbH &amp; Co. OHG on the same date, in compliance with the second phase of the agreement signed on June 8, 2020.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sale of the telecommunications towers' division in Latin America (Brazil, Peru, Chile and Argentina) closed on June 3, 2021 with Telxius receiving a payment of approximately 0.9 billion euros.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sale by Telef&#243;nica Chile, S.A. of 60% of the shares of InfraCo, SpA</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 22, 2021, Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the transaction, Telef&#243;nica Chile sold approximately 2,000,000 homes passed with fiber to InfraCo, SpA. Additionally, Telef&#243;nica Chile and InfraCo, SpA entered into certain agreements for the provision of various services, including an agreement to provide wholesale connectivity services to Telef&#243;nica Chile on InfraCo, SpA&#8217;s fiber network. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After obtaining the corresponding authorizations, the transaction was closed on July 1, 2021. The transaction values InfraCo, SpA. at 1.0 billion dollars (approximately 0.8 billion euros at the exchange rate as of such date).</span></div><div style="margin-top:9pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the acquisition of Cancom Ltd</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 28, 2021, Telef&#243;nica Cybersecurity &amp; Cloud Tech, S.L.U. (&#8220;Telef&#243;nica Tech&#8221;)  signed an agreement with Cancom Group for the purchase of 100% of the shares of the British company Cancom, Ltd, a company that provides advanced end to end cloud and cybersecurity services to B2B clients (including  public organizations and private entities) in the United Kingdom and Ireland, for an amount (enterprise value) of 340 million pounds sterling (approximately 398 million euros as of such date). </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transaction closed on August 4, 2021, and Cancom, Ltd and its subsidiaries were integrated into the Telef&#243;nica Group as part of Telef&#243;nica Tech. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 4, 2021, Cancom, Ltd changed its name to Telef&#243;nica Tech UK and Ireland, Ltd.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the acquisition of Incremental Group</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">157</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 21, 2022, Telef&#243;nica Tech UK &amp; Ireland, Ltd. (&#8220;T. Tech UK&#8221;) signed an agreement for the acquisition of 100% of the shares of the Scottish company Perpetual TopCo Limited, the holding company of a group of companies (&#8220;Incremental Group&#8221;) focused in the provision of advanced IT services (including business applications and data analytics) in the United Kingdom for up to GBP 175 million (approximately 209 million euros as of such date) (including certain potential deferred payments -earn-outs-). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transaction was signed and closed simultaneously and has contributed to T. Tech UK&#8217;s growth in the United Kingdom&#8217;s IT market.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the acquisition of BE-terna Group</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 8, 2022, Telef&#243;nica Cybersecurity &amp; Cloud Tech, S.L.U. (&#8220;Telef&#243;nica Tech&#8221;) signed an agreement for the acquisition of 100% of the shares of the German company BE-terna Acceleration Holding GmbH, the holding company of a group of companies (&#8220;BE-terna Group&#8221;) focused in the provision of advanced IT services (including business applications and data analytics) in Germany, Austria, Switzerland, The Netherlands, Denmark, Norway, Sweden, Slovenia, Serbia and Croatia for up to  350 million euros (including a potential deferred payment -earn-out-). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After approval of the transaction by the German antitrust authority, the transaction closed on June 9, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement reached between Telef&#243;nica Espa&#241;a Filiales, S.A.U. (&#8220;Telef&#243;nica Espa&#241;a Filiales&#8221;), T. Infra, Vauban and Cr&#233;dit Agricole Assurances for the establishment of Bluevia Fibra</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 25, 2022, Telef&#243;nica Espa&#241;a Filiales S.A.U, Telef&#243;nica Infra S.L.U. (T. Infra) and the consortium formed by Vauban Infrastructure Partners ("Vauban") and Cr&#233;dit Agricole Assurances ("CAA") reached an agreement for the establishment of a company, Bluevia Fibra, S.L. ("Bluevia"), whose corporate purpose is the deployment and commercialization of a fiber-to-the-home (FTTH) network mainly in rural areas in Spain. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the relevant regulatory authorizations were obtained, the closing of the transaction took place on December 20, 2022. After closing, the Telef&#243;nica Group holds 55% of the capital of Bluevia (30% through Telef&#243;nica Espa&#241;a Filiales and 25% through T. Infra), with Vauban/CAA holding the remaining 45%. At closing, Bluevia purchased from Telef&#243;nica Espa&#241;a 3.9&#160;million already passed real estate units, and agreed to deploy 1.1&#160;million additional units over the next 2 years, reaching a total footprint of 5&#160;million passed real estate units. The 3.9&#160;million already passed real estate units acquired by Bluevia represent 14% of Telef&#243;nica's FTTH network in Spain, with Telef&#243;nica Espa&#241;a retaining ownership of the remainder of the network. In addition, as part of the transaction, the Telef&#243;nica Group has entered into a series of service provision agreements with Bluevia which entail the mutual provision and receipt of services by/to Telefonica Group and Bluevia. As part of the transaction Telefonica Group has contributed equity funds to Bluevia in the amount of approximately 1,247&#160;million euros and the Vauban/CAA consortium has acquired 45% of Bluevia from Telef&#243;nica Espa&#241;a for 1,021&#160;million euros in cash (see Note 2 to the Consolidated Financial Statements). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement reached by T. Infra, Liberty Global and InfraVia for the establishment of a fiber-to-the-home (FTTH) joint venture in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On July 29, 2022, T. Infra, Liberty Global plc ("Liberty Global") and InfraVia Capital Partners ("InfraVia") reached an agreement for the establishment of a joint venture, "nexfibre", for the deployment of fiber-to-the-home (FTTH) to 5&#160;million homes in the United Kingdom not reached by VMO2's network, with potential for expansion to an additional 2&#160;million homes. The fiber network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the lead customer, as well as providing a range of technical services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and T. Infra participate by halves in a joint vehicle that holds a 50% interest in nexfibre, with InfraVia owning the remaining 50%. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The business plan for the initial rollout to 5&#160;million homes envisages an investment of approximately 4,500&#160;million pounds (approximately </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5,072</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at the exchange rate at December 31, 2022). The three partners have funded their pro-rata share of equity funding for the construction, totaling up to 1,400&#160;million pounds (approximately 1,578 million euros at the exchange rate at December 31, 2022). In addition, nexfibre has entered into a facilities agreement with a consortium of banks for an amount of up to 3,300&#160;million pounds (approximately </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,719</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at the exchange rate at December 31, 2022). As part of the transaction, InfraVia has made and will continue to make certain payments to Liberty Global and T. Infra, a portion of which will be linked to the progress of the construction of the network.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">158</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_172"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">D. Exchange Controls</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exchange Controls and Other Limitations Affecting Security Holders</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Ownership limitations</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are no limitations with respect to the ownership of our assets or share capital except those derived from the application of the reciprocity principle as described above.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Trading by us in our own shares or shares of companies under our control</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For information on the requirements applicable to the trading by us in our own shares or shares of companies under our control, see &#8220;&#8212;Memorandum and Articles of Association- Description of Our Capital Stock&#8212;Acquisition of own shares&#8221; above.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other restrictions on acquisitions of shares</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For information on reporting requirements and other restrictions applicable to the acquisition of our shares see &#8220;&#8212;Memorandum and Articles of Association</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Description of Our Capital Stock-Reporting requirements&#8221; and &#8220;&#8212;Trading by us in our own shares or shares of companies under our control&#8221; above and "Item 9. The Offering and Listing-Offer and Listing Details-Restrictions on foreign investment".</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividend and Liquidation Rights</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to Spanish law and our bylaws, dividends may only be paid out of profits or distributable reserves if the value of our net worth is not, and as a result of such distribution would not be, less than our capital stock. Pursuant to Spanish law, we are required to reserve 10% of our fiscal year net income until the amount in our legal reserve reaches 20% of our capital. Our legal reserve is currently at 20%.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dividends payable by us to non-residents of Spain ordinarily are subject to a Spanish withholding tax. For the tax implications of dividends to U.S. Holders (as defined below), see &#8220;&#8212;Taxation.&#8221;</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon our liquidation, our shareholders would be entitled to receive pro rata any assets remaining after the payment of our debts and taxes and expenses of such liquidation. Any change in the rights of shareholders to receive dividends and payment upon liquidation would require an amendment to our bylaws by resolution adopted by a general meeting of shareholders. If there were more than one class of shares, such amendment would also require the approval of each class of shareholders affected by the amendment.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Preemptive Rights and Increases of Share Capital</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Spanish Corporations Law, shareholders have preemptive rights to subscribe for any new shares and for bonds convertible into shares. Such rights may not be available under special circumstances if waived by a resolution passed at a general meeting of shareholders in accordance with Article 308 of the Spanish Corporations Law, or the Board of Directors, if authorized (Article 506 of the Spanish Corporation Act). Further, such rights, in any event, will not be available in the event of an increase in capital to meet the requirements of a convertible bond issue or a merger in which shares are issued as consideration. Such rights:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">are transferable;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">may be traded on the Automated Quotation System; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">may be of value to existing shareholders because new shares may be offered for subscription at prices lower than prevailing market prices.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Absent an exemption from registration, shares issuable upon exercise of rights must be registered under the Securities Act in order to be offered to holders of ADSs. If we decided not to register the shares, the rights would not be distributed to holders of ADSs. Pursuant to the Deposit Agreement, however, holders of ADSs are entitled to receive their proportionate share of the proceeds, if any, from sale by the Depositary of any rights accruing to holders of ADSs.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">159</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_175"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">E. Taxation</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a general summary of the material Spanish and U.S. federal income tax consequences to U.S. Holders described below of the ownership and disposition of shares or ADSs. This summary is based upon Spanish and U.S. tax laws (including the U.S. Internal Revenue Code of 1986, as amended (the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Code</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), final, temporary and proposed U.S. Treasury regulations, rulings, judicial decisions and administrative pronouncements), and the Convention Between the United States of America and the Kingdom of Spain for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, signed on February 22, 1990, along with the related Protocol (the &#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treaty</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), all as of the date hereof and all of which are subject to change or changes in interpretation, possibly with retroactive effect. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As used herein, the term &#8220;U.S. Holder&#8221; means a beneficial owner of one or more shares or ADSs:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">that is, for U.S. federal income tax purposes, one of the following:</span></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(a)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.78pt">a citizen or individual resident of the United States;</span></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(b)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.78pt">a corporation (or other entity taxable as a corporation) created or organized in or under the laws of the United States or any state therein or the District of Columbia; or</span></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(c)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:6.34pt">an estate or trust the income of which is subject to U.S. federal income taxation regardless of its source;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">who is entitled to the benefits of the Treaty;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">who holds the shares or ADSs as capital assets for U.S. federal income tax purposes;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">who owns, directly, indirectly or by attribution, less than 10% of the share capital or voting stock of Telef&#243;nica; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">whose holding is not attributable to a fixed base or permanent establishment in Spain.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This summary does not address all of the tax considerations, including the potential application of the provisions of the Code known as the Medicare contribution tax, that may apply to holders that are subject to special tax rules, such as certain U.S. expatriates, insurance companies, tax-exempt organizations, certain financial institutions, persons subject to the alternative minimum tax, dealers and certain traders in securities, persons holding shares or ADSs as part of a straddle, hedging, conversion or integrated transaction, persons who acquired their shares or ADSs pursuant to the exercise of employee stock options or otherwise as compensation, persons owning shares or ADSs in connection with a trade or business outside of the U.S., partnerships or other entities classified as partnerships for U.S. federal income tax purposes or persons whose functional currency is not the U.S. dollar. Such holders may be subject to U.S. federal income tax consequences different from those set forth below.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If a partnership holds shares or ADSs, the tax treatment of a partner generally will depend upon the status of the partner and the activities of the partnership. A partner in a partnership that holds shares or ADSs is urged to consult its own tax advisor regarding the specific tax consequences of owning and disposing of the shares or ADSs.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For purposes of the Treaty and U.S. federal income tax, U.S. Holders of ADSs will generally be treated as owners of the underlying shares represented by such ADSs. Accordingly, no gain or loss will be recognized if a U.S. Holder exchanges ADSs for the underlying shares represented by those ADSs.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This discussion assumes that Telef&#243;nica is not, and will not become, a passive foreign investment company (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PFIC</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), as discussed below under &#8220;&#8212;U.S. Federal Income Tax Considerations&#8212;Passive foreign investment company rules.&#8221;</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">U.S. Holders of shares or ADSs should consult their own tax advisors concerning the specific Spanish and U.S. federal, state and local tax consequences of the ownership and disposition of shares or ADSs in light of their particular situations as well as any consequences arising under the laws of any other taxing jurisdiction. In particular, U.S. Holders are urged to consult their own tax advisors concerning their eligibility for benefits under the Treaty and concerning the U.S. tax implications of the Spanish Wealth Tax and the Spanish FTT, as defined below.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spanish Tax Considerations</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Taxation of dividends</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">160</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under Spanish law, dividends paid by Telef&#243;nica to U.S. Holders of ordinary shares or ADSs are subject to Spanish Non-Resident Income Tax, withheld at source, at a rate of 19%. For these purposes, upon distribution of the dividend, Telef&#243;nica or its paying agent will withhold an amount equal to the tax due according to the rules set forth above.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, under the Treaty, if you are a U.S. Holder, you are entitled to a reduced withholding tax rate of 15%.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To benefit from the Treaty-reduced rate of 15%, you must provide to Telef&#243;nica through its paying agent in Spain, before the tenth day following the end of the month in which the dividends were payable, a certificate from the U.S. Internal Revenue Service (&#8220;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IRS</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) stating that, to the best knowledge of the IRS, such U.S. Holders are residents of the United States within the meaning of the Treaty and entitled to its benefits.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If this certificate is not provided within this period, you may afterwards apply for a refund of the amount withheld in excess of the rate provided for in the Treaty by following the procedures described in the next section.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Spanish Refund Procedure</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to Spanish Regulations on Non-Resident Income Tax, approved by Royal Decree 1776/2004 dated July 30, 2004, as amended, a refund for the amount withheld in excess of the Treaty-reduced rate can be obtained from the relevant Spanish tax authorities. To pursue the refund claim, if you are a U.S. Holder, you are required to file:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:16.94pt">the corresponding Spanish tax form;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:16.94pt">the certificate referred to in the preceding section; and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:16.94pt">evidence of the Spanish Non-Resident Income Tax that was withheld with respect to you.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The refund claim may be filed as from February 1 of the calendar year following the year in which the relevant payment date takes place and within four years from the date in which the withheld tax was collected by the Spanish tax authorities.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">U.S. Holders are urged to consult their own tax advisors regarding refund procedures and any U.S. tax implications thereof.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Taxation of capital gains</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For Spanish tax purposes, income obtained from the sale of shares or ADSs of Telef&#243;nica will be treated as capital gains. Spanish non-resident income tax is levied at a rate of 19% on capital gains obtained by persons not residing in Spain for tax purposes who are not entitled to the benefit of any applicable treaty for the avoidance of double taxation.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, capital gains derived from the transfer of shares on an official Spanish secondary stock market by any holder who is resident in a country that has entered into a treaty for the avoidance of double taxation with an &#8220;exchange of information&#8221; clause (the Treaty contains such a clause) will be exempt from taxation in Spain. If you are a U.S. Holder, under the Treaty capital gains arising from the disposition of shares or ADSs will not be taxed in Spain. You will be required to establish that you are entitled to the exemption from tax under the Treaty by providing to the relevant Spanish tax authorities a certificate of residence issued by the IRS stating that to the best knowledge of the IRS, you are a U.S. resident within the meaning of the Treaty.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Spanish wealth tax</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Individual U.S. Holders who hold shares or ADSs located in Spain are subject to the Spanish Wealth Tax (Impuesto sobre el Patrimonio) (Spanish Law 19/1991), which imposes tax on property located in Spain on the last day of any year.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the Solidarity Wealth Tax For High-Net-Worth Individuals entered into force as of December 29, 2022 (therefore, for the first year, assets held at December 31, 2022 will be subject to taxation). It is designed as a direct and personal tax that complements the Spanish Wealth Tax. The tax would be in principle temporary and will remain in force for two fiscal years. It is consistent with the provisions of the Spanish Wealth Tax in most essential aspects (exemptions, taxable and net taxable bases, tax rates, limit on amount of tax payable, etc.).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Inheritance and gift tax</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">161</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transfers of shares or ADSs on death and by gift to individuals are subject to Spanish inheritance and gift taxes (Impuesto sobre Sucesiones y Donaciones), respectively, if the transferee is a resident of Spain for tax purposes, or if the shares or ADSs are located in Spain at the time of death, regardless of the residence of the heir or beneficiary. In this regard, the Spanish tax authorities may determine that all shares of Spanish corporations and all ADSs representing such shares are located in Spain for Spanish tax purposes. The applicable tax rate, after applying relevant personal, family and wealth factors, generally ranges between 7.65% and 81.6% for individuals.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gifts granted to corporations that are not resident in Spain are subject to Spanish Non-Resident Income Tax at a rate of 19% on the fair market value of the shares as a capital gain. If the donee is a United States resident corporation, the exclusions available under the Treaty described in the section &#8220;&#8212;Taxation of Capital Gains&#8221; above will be applicable.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Expenses of Transfer</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transfers of shares or ADSs will be exempt from any transfer tax (Impuesto sobre Transmisiones Patrimoniales) or value added tax. Additionally, no stamp tax will be levied on such transfers.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transfer of shares or ADSs may be subject to the Spanish Financial Transaction tax (the &#8220;Spanish FTT&#8221;). The Spanish law which implements the Spanish FTT was approved on October 7, 2020 (the &#8220;FTT Law&#8221;) and the FTT Law was published in the Spanish Official Gazette (Bolet&#237;n Oficial del Estado) on October 16, 2020. The Spanish FTT came into force three months after the publication of the FTT Law in the Spanish Official Gazette (i.e., on January 16, 2021).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Spanish FTT will charge a 0.2% rate on specific acquisitions of listed shares issued by Spanish companies (including ADSs) whose market capitalization exceeds 1 billion euros (&#8364;1,000,000,000) (this may be the case of Telef&#243;nica), regardless of the jurisdiction of residence of the parties involved in the transaction. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transactions in the primary market (such as a capital increase) are exempt from the Spanish FTT. However, the Spanish FTT will subject other transactions involving the acquisition of the shares or ADSs depending on the market capitalization of Telef&#243;nica. Prospective investors are advised to seek their own professional advice in relation to the Spanish FTT.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">U.S. Federal Income Tax Considerations</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Taxation of dividends</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Distributions received by a U.S. Holder on shares or ADSs, including the amount of any Spanish taxes withheld therefrom, other than certain pro rata distributions of shares to all shareholders (including ADS holders), will constitute foreign-source dividend income to the extent paid out of Telef&#243;nica&#8217;s current or accumulated earnings and profits (as determined for U.S. federal income tax purposes). Because Telef&#243;nica does not maintain calculations of its earnings and profits under U.S. federal income tax principles, it is expected that distributions generally will be reported to U.S. Holders as dividends. The amount of dividend income paid in euros that a U.S. Holder will be required to include in income will equal the U.S. dollar value of the distributed euros, calculated by reference to the exchange rate in effect on the date the payment is received by the Depositary (in the case of ADSs) or by the U.S. Holder (in the case of shares), regardless of whether the payment is converted into U.S. dollars on the date of receipt. If the dividend is converted into U.S. dollars on the date of receipt, a U.S. Holder will generally not be required to recognize foreign currency gain or loss in respect of the dividend income. A U.S. Holder may have foreign currency gain or loss if the dividend is converted into U.S. dollars after the date of its receipt. Gain or loss that a U.S. Holder realizes on a sale or other disposition of euros will be U.S.-source ordinary income or loss. Corporate U.S. Holders will not be entitled to claim the dividends-received deduction with respect to dividends paid by Telef&#243;nica. Subject to applicable limitations, dividends received by certain non-corporate U.S. Holders will be taxable at rates applicable to long-term capital gains. Non-corporate U.S. Holders should consult their own tax advisors to determine whether they are subject to any special rules that limit their ability to be taxed at these favorable rates.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Spanish income taxes withheld from dividends on shares or ADSs at a rate not exceeding the rate provided in the Treaty will be creditable against a U.S. Holder&#8217;s U.S. federal income tax liability, subject to applicable restrictions and limitations that may vary depending upon the U.S. Holder&#8217;s circumstances. Spanish taxes withheld in excess of the rate applicable under the Treaty will not be eligible for credit against a U.S. Holder&#8217;s federal income tax liability. See &#8220;Spanish Tax Considerations&#8212;Taxation of dividends&#8221; above for a discussion of how to obtain the applicable Treaty rate. Instead of claiming a credit, a U.S. Holder may elect to deduct foreign taxes (including the Spanish </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">162</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">taxes) in computing its taxable income, subject to generally applicable limitations. An election to deduct foreign taxes (instead of claiming foreign tax credits) applies to all taxes paid or accrued in the taxable year to foreign countries and possessions of the United States. The limitations on foreign taxes eligible for credit are calculated separately with respect to specific classes of income. The rules governing foreign tax credits are complex. Therefore, U.S. Holders should consult their own tax advisors regarding the availability of foreign tax credits in their particular circumstances.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Taxation upon sale or other disposition of shares or ADSs</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A U.S. Holder will generally recognize U.S. source capital gain or loss on the sale or other disposition of shares or ADSs. Any such gain or loss will be long-term capital gain or loss if the U.S. Holder has held such shares or ADSs for more than one year. The amount of the U.S. Holder&#8217;s gain or loss will be equal to the difference between such U.S. Holder&#8217;s tax basis in the shares or ADSs sold or otherwise disposed of and the amount realized on the sale or other disposition, as determined in U.S. dollars.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As discussed under &#8220;Spanish Tax Considerations&#8212;Taxation of capital gains&#8221; above, gain realized by a U.S. Holder on the sale or other disposition of shares or ADSs will be exempt from Spanish tax on capital gains under the Treaty. If a U.S. Holder is eligible for the exemption from Spanish tax on capital gains but does not follow appropriate procedures for obtaining the exemption, such holder will not be entitled to credit the amount of Spanish tax on capital gains paid against its U.S. federal income tax liability. U.S. Holders should consult their own tax advisors regarding the potential Spanish tax consequences of a sale or other disposition of shares or ADSs and the procedures available for an exemption from such tax.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Passive foreign investment company rules</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica believes that it was not a PFIC for U.S. federal income tax purposes for its 2022 taxable year. However, because PFIC status depends upon the composition of a company&#8217;s income and assets and the market value of its assets (including, among others, less than 25% owned equity investments) from time to time, there can be no assurance that Telef&#243;nica will not be considered a PFIC for any taxable year. If Telef&#243;nica were treated as a PFIC for any taxable year during which a U.S. Holder owned a share or ADS, certain adverse tax consequences could apply to the U.S. Holder.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In general, if Telef&#243;nica were treated as a PFIC for any taxable year during which a U.S. Holder owned a share or ADS, gain recognized by a U.S. Holder on a sale or other disposition of such share or ADS would be allocated ratably over the U.S. Holder&#8217;s holding period for the share or ADS. The amounts allocated to the taxable year of the sale or other disposition and to any year before Telef&#243;nica became a PFIC would be taxed as ordinary income. The amount allocated to each other taxable year would be subject to tax at the highest rate in effect for individuals or corporations, as appropriate, and an interest charge would be imposed on the resulting tax liability. The same treatment would apply to any distribution in respect of shares or ADSs to the extent it exceeds 125% of the average of the annual distributions on shares or ADSs received by the U.S. Holder during the preceding three years or the U.S. Holder&#8217;s holding period, whichever is shorter. Certain elections may be available that would result in alternative treatments (such as mark-to-market treatment) of the shares or ADSs.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, if Telef&#243;nica were treated as a PFIC in a taxable year in which it pays a dividend or in the prior taxable year, the favorable dividend rates discussed above with respect to dividends paid to certain non-corporate U.S. Holders would not apply.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If Telef&#243;nica were a PFIC for any taxable year during which a U.S. Holder owned our shares or ADSs, the U.S. Holder will generally be required to file IRS Form 8621 with its annual U.S. federal income tax return.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Information reporting and backup withholding</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments of dividends and sales proceeds that are made within the United States or through certain U.S.-related financial intermediaries generally are subject to information reporting and may be subject to backup withholding unless the U.S. Holder is a corporation or other exempt recipient or, in the case of backup withholding, the U.S. Holder provides a correct taxpayer identification number and certifies that it is not subject to backup withholding. The amount of any backup withholding from a payment to a U.S. Holder will be allowed as a credit against the U.S. Holder&#8217;s U.S. federal income tax liability and may entitle such U.S. Holder to a refund, provided that the required information is timely furnished to the IRS.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">163</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain U.S. Holders who are individuals and certain specified entities may be required to report information relating to stock of a non-U.S. person, subject to certain exceptions (including an exception for stock held through a U.S. financial institution). U.S. Holders are urged to consult their tax advisors regarding the application, if any, of this legislation to their ownership of shares or ADSs.</span></div><div id="i2ad619f032b2435680b3f6486d100018_178"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">F. Dividends and Paying Agents</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not Applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_181"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">G. Statements by Experts</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not Applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_184"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">H. Documents on Display</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Where You Can Find More Information</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We file Annual Reports on Form 20-F and furnish periodic reports on Form 6-K to the SEC. You may read and copy any of these reports at the SEC&#8217;s public reference room in Washington, D.C. Please call the SEC at 1-800-SEC-0330 for further information. Our SEC filings are also available to the public from commercial document retrieval services. Some of our SEC filings are also available at the website maintained by the SEC at &#8220;http://www.sec.gov.&#8221; Except as otherwise expressly indicated herein, any such information does not form part of this annual report on Form 20-F.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our ADSs are listed on the New York Stock Exchange under the symbol &#8220;TEF.&#8221; You may inspect any periodic reports and other information filed with or furnished to the SEC by us at the offices of the New York Stock Exchange, 20 Broad Street, New York, New York 10005.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a foreign private issuer, we are exempt from the rules under the Exchange Act which prescribe the furnishing and content of proxy statements, and our officers, directors and principal shareholders are exempt from the reporting and &#8220;short-swing&#8221; profit recovery provisions contained in Section 16 of the Exchange Act.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to the informational requirements of the Spanish securities commission and the Spanish Stock Exchanges, and we file reports and other information relating to our business, financial condition and other matters with the Spanish securities commission and the Spanish Stock Exchanges. You may read such reports, statements and other information, including the annual and biannual financial statements, at the public reference facilities maintained in Madrid and Barcelona. Some of our Spanish securities commission filings are also available at the website maintained by the CNMV at http://www.cnmv.es.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have appointed Citibank, N.A. to act as Depositary for the Telef&#243;nica ADSs. Citibank will, as provided in the Deposit Agreement, arrange for the mailing of summaries in English of such reports and communications to all record holders of the ADSs of Telef&#243;nica. Any record holder of Telef&#243;nica ADSs may read such reports and communications or summaries thereof at Citibank&#8217;s office located at 388 Greenwich Street, 6th Floor, New York, New York 10013.</span></div><div id="i2ad619f032b2435680b3f6486d100018_187"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">I. Subsidiary Information</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_190"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 11. Quantitative and Qualitative Disclosures About Market Risk</span></div><div style="margin-top:9pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are exposed to various financial market risks as a result of: (i) our ordinary business activity, (ii) debt incurred to finance our business, (iii) our investments in companies, and (iv) other financial instruments related to the above commitments.</span></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main market risks affecting Group companies are as follows:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Exchange rate risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: arises primarily from: (i) Telef&#243;nica&#8217;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.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">164</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Interest rate risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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), (ii) the value of long-term liabilities at fixed interest rates and (iii) financial expenses and principal payments of inflation-linked financial instruments, considering interest rate risk as the impact of changes in inflation rates. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Share price risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Liquidity risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Country risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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 Telef&#243;nica Group operates, especially in Latin America.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Credit risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We seek to actively manage these risks through the use of derivatives (primarily on exchange rates, interest rates and share prices) and by incurring debt in local currencies, where appropriate, with a view to stabilizing cash flows, our income statement and, to a lesser extent, part of the value of our investments. In this way, we attempt to protect our solvency, facilitate financial planning and take advantage of investment opportunities.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We manage our exchange rate risk and interest rate risk in terms of net financial debt and net financial debt plus commitments as calculated by us. We believe that these parameters are more appropriate to understanding our debt position. Net financial debt and net financial debt plus commitments take into account the impact of our 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 us should be considered as a substitute for gross financial debt (the sum of current and non-current interest-bearing debt) as a measure of our leverage. For a more detailed description on reconciliation of net debt and net financial debt to gross financial debt, see &#8220;Item 5. Operating and Financial Review and Prospects&#8212;Non-GAAP financial information&#8212;Net financial debt, net financial debt plus leases, net financial debt plus commitments and net financial debt plus leases plus commitments.&#8221;</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a more detailed description on quantitative and qualitative disclosures about market risks see Note 19 to our Consolidated Financial Statements.</span></div><div id="i2ad619f032b2435680b3f6486d100018_193"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 12. Description of Securities Other Than Equity Securities</span></div><div id="i2ad619f032b2435680b3f6486d100018_196"></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">D. American Depositary Shares</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Depositary of our ADR program is Citibank, N.A., and the address of its principal executive office is 388 Greenwich Street, New York, New York 10013.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our ADSs are listed on the New York Stock Exchange under the symbol &#8220;TEF.&#8221; Each ADS represents the right to receive one ordinary share of capital stock of 1.00 euros nominal value each, of Telef&#243;nica, S.A. The Depositary issues ADSs in the form of certificated ADSs (also known as American Depositary Receipts, or ADRs) or uncertificated ADSs pursuant to the Deposit Agreement.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the terms of the Deposit Agreement, as of the date of this Annual Report, an ADS holder may have to pay to the Depositary the services fees specified in the table below:</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">165</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:31.744%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:33.064%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.892%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Category</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Depositary Actions</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Associated Fee / Paid By Whom</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(a) &#160;&#160;Depositing or substituting the underlying shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Issuance of ADSs upon the deposit of shares</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Up to 5.00 dollars for each 100 ADSs (or portion thereof) evidenced by the new ADSs delivered (charged to person depositing the shares or receiving the ADSs)(1)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(b) &#160;&#160;Receiving or distributing dividends</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Distribution of cash dividends or other cash distributions; distribution of share dividends or other free share distributions; distribution of securities other than ADSs or rights to purchase additional ADSs</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Up to 5.00 dollars for each 100 ADSs (or portion thereof) held (in the case of cash distributions, deducted from the relevant distribution; in the case of all other distributions, billed to the relevant holder)(2)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(c) &#160;&#160;Selling or exercising rights</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Distribution or sale of securities</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Up to 5.00 dollars for each 100 ADSs (or portion thereof) held (billed to the relevant holder)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(d) &#160;&#160;Withdrawing an underlying security</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Acceptance of ADSs surrendered for withdrawal of deposited securities</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Up to 5.00 dollars for each 100 ADSs (or portion thereof) evidenced by the ADSs surrendered (charged to person surrendering or to person to whom withdrawn securities are being delivered)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(e) &#160;&#160;Transferring, splitting or grouping receipts</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Up to 1.50 dollars per ADS so presented (charged to person presenting certificate for transfer)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(f) &#160;&#160;General depositary services, particularly those charged on an annual basis</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other services performed by the Depositary in administering the ADSs</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Up to 5.00 dollars for each 100 ADSs (or portion thereof) held on the applicable record date (billed to person holding ADSs on applicable record date established by the Depositary)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">166</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:31.744%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:33.064%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.892%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(g) &#160;&#160;Expenses of the Depositary</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certain fees and expenses incurred by the depositary bank and certain taxes and governmental charges in connection with:</span></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:100%">&#183; </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">compliance with foreign exchange control regulations or any law or regulation relating to foreign investment;</span></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:100%">&#183; </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">the Depositary or its custodian&#8217;s compliance with applicable law, rule or regulation;</span></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:100%">&#183;   </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">stock transfer or other taxes and other governmental charges;</span></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:100%">&#183;  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">cable, telex, facsimile transmission/delivery;</span></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:100%">&#183; </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">expenses of the Depositary in connection with the conversion of foreign currency into U.S. dollars (which are paid out of such foreign currency);</span></div><div style="padding-left:9pt;text-align:justify;text-indent:-9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:100%">&#183; </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">any other charge payable by Depositary or its agents.</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expenses payable at the sole discretion of the Depositary (billed or deducted from cash distributions to person holding ADSs on applicable record date established by the Depositary)</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;In the case of ADSs issued by the Depositary into DTC or presented to the Depositary via DTC, the ADS issuance and cancellation fees will be payable to the Depositary by DTC Participant(s) receiving the ADSs from the Depositary or the DTC Participant(s) surrendering the ADSs to the Depositary for cancellation, as the case may be, on behalf of the beneficial owner(s) and will be charged by the DTC Participant(s) to the account(s) of the applicable beneficial owner(s) in accordance with the procedures and practices of the DTC participant(s) as in effect at the time.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;For ADSs held through DTC, the Depositary fees for distributions other than cash and the Depositary service fee are charged by the Depositary to the DTC Participants in accordance with the procedures and practices prescribed by DTC from time to time and the DTC Participants in turn charge the amount of such fees to the beneficial owners for whom they hold ADSs.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Depositary has agreed to reimburse or pay on behalf of Telef&#243;nica, S.A., certain reasonable expenses related to our ADS program and incurred by Telef&#243;nica, S.A. in connection with the program (such as NYSE listing fees, legal and accounting fees incurred in connection with the preparation of Form 20-F and ongoing SEC compliance and listing requirements, distribution of proxy materials, investor relations expenses, etc.). The Depositary has covered all such expenses incurred by Telef&#243;nica, S.A. during 2022 for an amount of 4.1 million dollars (equivalent to 3.8 million euros, approximately). The amounts the Depositary reimbursed or paid are not perforce related to the fees collected by the depositary from ADS holders.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of its service to Telef&#243;nica, S.A., the Depositary has agreed to waive certain expenses for the standard costs associated with the administration of our ADS program for the year ended December 31, 2022.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">167</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_199"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Part II</span></div><div id="i2ad619f032b2435680b3f6486d100018_202"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 13. Defaults, Dividend Arrearages and Delinquencies</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">None.</span></div><div id="i2ad619f032b2435680b3f6486d100018_205"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_208"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 15. Controls and Procedures</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Management&#8217;s Evaluation over&#160;Disclosure Controls and Procedures</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Chief Executive Officer and our Chief Financial and Control Officer, after evaluating the effectiveness of Telef&#243;nica&#8217;s disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this Form 20-F, have concluded that, as of such date, our disclosure controls and procedures were effective. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are, as described below, inherent limitations to the effectiveness of any internal control system, including disclosure controls and procedures. Accordingly, even effective disclosure controls and procedures can provide only reasonable assurance of achieving their control objectives.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;Management&#8217;s Annual Report on Internal Control over Financial Reporting</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The management of Telef&#243;nica is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Exchange Act. Telef&#243;nica&#8217;s internal control over financial reporting is designed to provide reasonable assurance as to the reliability of financial reporting and the preparation of consolidated financial statements for external purposes, in accordance with generally accepted accounting principles. For Telef&#243;nica, generally accepted accounting principles refer to International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s internal control over financial reporting includes those policies and procedures that:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1) Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2) Provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Telef&#243;nica Group are being made only in accordance with authorizations of management and directors; and</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of Telef&#243;nica&#8217;s assets that could have a material effect on the consolidated financial statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;Any internal control system, no matter how well designed, has inherent limitations, including the possibility of human error and the circumvention or overriding of controls and procedures, which may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness for future periods are subject to the risk that controls may become inadequate because of changes in conditions or because the degree of compliance with the policies or procedures may deteriorate.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s management assessed the effectiveness of Telef&#243;nica&#8217;s internal control over financial reporting as of December 31, 2022. In making this assessment, it used the criteria established in Internal Control &#8211; Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Telef&#243;nica&#8217;s management has excluded from the scope of its assessment of internal control over financial reporting the operations and related assets of Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A., Perpetual TopCo Limited and affiliates, and BE-terna Acceleration Holding GmbH and affiliates (the &#8220;acquired companies&#8221;), which Telef&#243;nica acquired in purchase business combinations on April 20, 2022, March 21, 2022, and June 9, 2022, respectively. Total assets and total revenues subject to the acquired companies&#8217; internal control over financial </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">168</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">reporting represented 0.3% and 0.8% in the aggregate, of Telef&#243;nica&#8217;s consolidated total assets and total revenues as of and for the year ended December 31, 2022, respectively. Based on the assessment performed and those criteria, Telef&#243;nica&#8217;s management concluded that as of December 31, 2022, Telef&#243;nica&#8217;s internal control over financial reporting was effective.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Report of the Independent Registered Public Accounting Firm</span></div><div style="text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">PricewaterhouseCoopers Auditores, S.L., an independent registered public accounting firm (PCAOB ID <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:AuditorFirmId" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yMDgvZnJhZzoxMzE2MmI3YWI4OWU0MGQxYWFmNTU5ZThkNmJmMjA2Mi90ZXh0cmVnaW9uOjEzMTYyYjdhYjg5ZTQwZDFhYWY1NTllOGQ2YmYyMDYyXzM0NDg_10ca087c-4edd-45cc-8e02-4e20c72c5001">1306</ix:nonNumeric>), has issued a report both on the consolidated financial statements as of and for the year ended December 31, 2022 and on the effectiveness of Telef&#243;nica&#8217;s internal control over financial reporting under auditing standards of the Public Company Accounting Oversight Board (United States). The report is included on page F-2.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Changes in Internal Control Over Financial Reporting</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no changes in our internal control over financial reporting identified in connection with the evaluation required by Rules 13a-15(d) or 15d-15(d) under the Exchange Act that occurred during the period covered by this Annual Report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</span></div><div id="i2ad619f032b2435680b3f6486d100018_211"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16. [Reserved]</span></div><div id="i2ad619f032b2435680b3f6486d100018_214"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16A. Audit Committee Financial Expert</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Board of Directors has determined that all the members of the Audit and Control Committee (i.e., Mr. Peter L&#246;scher (Chairman), Mr. Jos&#233; Javier Echenique Landir&#237;bar, Ms. Carmen Garc&#237;a de Andr&#233;s and Ms. Mar&#237;a Rotondo Urcola) meet the requirements of an &#8220;audit committee financial expert&#8221; as such term is defined by the SEC.</span></div><div id="i2ad619f032b2435680b3f6486d100018_217"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16B. Code of Ethics</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica is governed by a code of business conduct and ethics called the Telef&#243;nica's Responsible Business Principles. The Responsible Business Principles are binding on all employees globally, including senior officers, in their daily operations and on the Company in its relations with its stakeholders. All employees have an obligation to complete the Responsible Business Principles Course once every two years. In 2022, 89% of Telef&#243;nica&#8217;s workforce completed the Responsible Business Principles Course.</span></div><div style="text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The standards set forth in the Telef&#243;nica's Responsible Business Principles cover ethical issues such as honesty and trust, respect for the law, integrity and the respect of human rights and digital rights, transparency of information, fiscal transparency, fair competition, political neutrality, as well as how these ethical principles should be implemented in our relationships with our stakeholders: employees, customers, shareholders, suppliers and the communities we work in. Issues covered, amongst other, are professional development, diversity, labor rights, compensation, health and safety, communications and advertising, corporate governance, innovation, development and responsible use of technology, risk management, protection to shareholders, anti-corruption, conflicts of interest, environmental protection, privacy and data protection, commitment to the societies in which operate and responsible management of the supply chain, etc.</span></div><div style="text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica's Responsible Business Principles are available and open to consultation for employees on the Telef&#243;nica Intranet site as well as for the general public on the Telef&#243;nica external website (https://www.telefonica.com/en/commitment/how-we-work/business-principles/).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For more information, please see &#8220;Item 16G. Corporate Governance&#8212;Code of Ethics".</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_220"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16C. Principal Accountant Fees and Services</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see Note 29.e to our Consolidated Financial Statements.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The Audit and Control Committee&#8217;s Pre-Approval Policies and Procedures</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The engagement of any service rendered by our external auditor or any of its affiliates must always have the prior approval of our Audit and Control Committee. Such Committee has developed a Pre-approval Policy regarding </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">169</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the engagement of professional services by our external auditor, in accordance with the Spanish Audit Law and the Sarbanes-Oxley Act. This Policy establishes the obligation to obtain prior approval from our Audit and Control Committee for any service to be rendered by our external auditor to Telef&#243;nica or any of its subsidiaries.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This Policy sets forth restrictions on engaging our external auditor for the performance of non-audit services, according to which the engagement of our external auditor for the provision of such services is only permitted when there is no other firm available to provide the needed services at a comparable cost and with a similar level of quality. Moreover, this Policy prohibits the engagement of our external auditor for the provision of certain type of services that would be considered as &#8220;prohibited services&#8221;.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the Audit and Control Committee oversees the total amount of fees paid to our external auditor for the provision of non-audit services in order to assure that such fees do not exceed a certain percentage of the total amount of fees paid for the provision of audit services.</span></div><div id="i2ad619f032b2435680b3f6486d100018_223"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16D. Exemptions from the Listing Standards for Audit Committees</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_226"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, we held 85,217,621 shares of treasury stock, representing 1.476% of our capital stock. At December 31, 2021, we held 139,329,370 shares of treasury stock, representing 2.411% of our capital stock. These treasury shares were directly owned by Telef&#243;nica, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;The table below shows the purchases of Telef&#243;nica shares made by or on behalf of Telef&#243;nica or any affiliated purchaser during 2022. These purchases were made in open-market transactions and none of the shares were purchased under a publicly announced plan or program.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.514%"><tr><td style="width:1.0%"></td><td style="width:39.229%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.892%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.895%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Period of Fiscal Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total number of shares purchased</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average price paid per share (euro)</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total number of shares purchased as part of publicly announced plans or programs</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maximum number of shares that may yet be purchased under the plans or programs</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">January 1 to January 31</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,188,664&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.92&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">February 1 to February 28</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,581,969&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.19&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">March 1 to March 31</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,429,955&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.03&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">April 1 to April 30</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,026,043&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.82&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">May 1 to May 31</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,573,160&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.69&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 1 to June 30</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,760,099&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.59&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">July 1 to July 31</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,104,597&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.59&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">August 1 to August 31</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,683,799&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4.27</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 1 to September 30</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,581,997&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.82&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">October 1 to October 31</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,936,975&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.35&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">November 1 to November 30</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,581,136&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.54&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">December 1 to December 31</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,955,136&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.41&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">90,403,530</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4.04</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The table does not include shares received by Telefonica pursuant to Telef&#243;nica&#8217;s scrip dividend in June 2022 (563,415 shares) in connection with its treasury shares.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For information regarding our share buybacks, see &#8220;Item 8. Financial Information&#8212;Dividend Information and Shareholders&#8217; Return&#8221; and Note 17 to our Consolidated Financial Statements.</span></div><div id="i2ad619f032b2435680b3f6486d100018_229"></div><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16F. Change in Registrant&#8217;s Certifying Accountant</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_232"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16G. Corporate Governance</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Corporate governance guidelines</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Spain, companies with securities listed on a Spanish Stock Exchange are expected to follow the Good Governance Code of Listed Companies (the &#8220;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Code</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), which was approved in February 2015 and most recently revised in June 2020. The Code contains certain corporate governance and shareholder disclosure recommendations. Spanish listed companies are required by law to publish an Annual Report on Corporate Governance and a Report on the Compensation of the Board of Directors. Additionally, Spanish listed companies are required to publish their corporate governance information on their websites. We base our corporate governance procedures on the recommendations of the Code. As part of our corporate governance procedures, we have adopted regulations for our Board of Directors that govern, among other things, director qualification standards, responsibilities, compensation, access to management information, the Board of Directors&#8217; purpose and each of our Board Committee&#8217;s purpose and responsibilities. Moreover, we have a Regulation of the General Shareholders&#8217; Meeting that aims to reinforce its transparency, providing shareholders with a framework guaranteeing and facilitating exercise of their rights. Additionally, we also have regulations for the Audit and Control Committee and for the Nominating, Compensation and Corporate Governance Committee. The Annual Report on Corporate Governance published by us provides a detailed explanation of our corporate governance procedures and explains the role and duties of our Board of Directors and Board Committees. Our Annual Report on Corporate Governance and the Report on the Compensation of the Board of Directors of Telef&#243;nica, S.A. are available on our website at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.telefonica.com</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. None of the information contained on our website is incorporated in this Annual Report.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Committees</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have an Executive Commission. The Board of Directors delegates all its powers to an Executive Commission, except those that cannot be delegated by law, by our bylaws, or by the Regulations of the Board of Directors. The Executive Commission provides for greater efficiency and effectiveness in the execution of tasks, since it meets more often than the Board of Directors. The Executive Commission shall report to the Board in a timely manner on the matters dealt with and the decisions adopted at the meetings thereof, with a copy of the minutes of such meetings made available to the </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">members</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of the Board (according to Article 21.C of the Regulations of the Board of Directors). The Executive Commission shall consist of the Chairman of the Board of Directors, once appointed as a member of the Executive Commission, and not less than three nor more than ten Directors, appointed by the Board of Directors. The Board of Directors shall seek that the Executive Commission has at least two external Directors, of whom at least one shall be independent.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have had an Audit and Control Committee since 1997. Our Audit and Control Committee is composed of four non-executive and independent directors, all of whom are deemed Rule 10A-3 independent by our Board of Directors. The functions, composition and competencies of this Committee are regulated by the Board of Directors&#8217; Regulations and the Regulations of the Audit and Control </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Committee</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and are similar to those required by the NYSE. The Audit and Control Committee shall consist of not less than three directors appointed by our Board of Directors. All Committee members shall be external Directors, and at least a majority of them must be independent Directors. When appointing such members, our Board of Directors shall take into account the appointees&#8217; knowledge and experience in matters of accounting, auditing and risk management.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have had a Nominating, Compensation and Corporate Governance Committee since 1997, which is composed of five external directors. The functions, composition and competencies of this Committee are regulated by the Board of Directors&#8217; Regulations and by the Regulations of the Nominating, Compensation and Corporate Governance Committee and are very similar to those required by the NYSE. The Nominating, Compensation and Corporate Governance Committee shall consist of not less than three directors appointed by the Board of Directors. All members of the Committee must be external directors and the majority thereof must be independent. The chairman of the Nominating, Compensation and Corporate Governance Committee, who shall in all events be an independent director, shall be appointed from among its members.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, we have a Regulation and Institutional Affairs Committee, a Sustainability and Quality Committee and a Strategy and Innovation Committee. Their functions, composition and competencies are regulated by the Board of Directors&#8217; Regulations.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">171</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:174%">Independence of the Board</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of the date of this Annual Report, we have 15 directors, out of which nine have been deemed independent by our Board of Directors attending to the director&#8217;s classification contained in Spanish Corporations Act (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Ley de Sociedades de Capital</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). All our directors, with the exception of Mr. &#193;lvarez-Pallete L&#243;pez (our Chairman and Chief Executive Officer) and Mr. Vil&#225; Boix (our Chief Operating Officer), are non-executive directors. We, in accordance with the Spanish Corporations Act, assess the independence of our directors. Among other things, independent directors: (i) shall not be, past employees or executive directors of any of the Group companies, unless three or five years have elapsed, respectively, (ii) shall not receive any payment or other form of compensation from us or our group on top of their directors&#8217; fees, unless the amount involved is not significant, (iii) shall not be partners, now or on the past three years, in the external auditor or in the firm responsible for the audit report, (iv) shall not be executive directors or senior officers of another company where one of our executive directors or senior officers is an external director, (v) shall not have material business dealings with us or any other company in our group, (vi) shall not be spouses, nor partners maintaining an analogous affective relationship, nor close relative of any of our executive directors or senior officers and (vii) shall not stand in any of the situations listed in (i), (v) or (vi) above in relation to a significant shareholder or a shareholder with board representation.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The classification of each director shall be explained by the Board of Directors to the shareholders at the General Shareholders&#8217; Meeting at which the appointment thereof must be made or ratified. Furthermore, such classification shall be reviewed annually by our Board of Directors after verification by the Nominating, Compensation and Corporate Governance Committee, and reported in the Annual Corporate Governance Report.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:174%">Internal Audit Function</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have an Internal Audit Department responsible for internal audit matters and for ensuring the efficiency of the internal audit control process of our different units. This Internal Audit Department reports directly to the Audit and Control Committee, thus supporting the adequate performance of all its functions.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:174%">Non-Executive Director Meetings</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the NYSE listing standards, non-executive directors of U.S.-listed companies must meet on a regular basis without management present and the company must disclose a method for any interested parties to communicate directly with the non-executive directors. As a group, our non-executive directors do not meet formally without management present. Nevertheless, each of the Audit and Control Committee, the Nominating, Compensation and Corporate Governance Committee, the Regulation and Institutional Affairs Committee, the Sustainability and Quality Committee and the Strategy and Innovation Committee is composed exclusively of non-executive directors, thus giving each of these committees, the chance to analyze and discuss any matter related to our management, within its respective area of responsibility.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, since May 2013, we have a lead independent director who acts as &#8220;Coordinating Independent Director&#8221;, to whom our bylaws grant the right to have a say on key elements of governance structure, which most companies in Spain and around the world reserve to the Board of Directors.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to our bylaws (Art. 32) the independent director who acts as &#8220;Coordinating Independent Director&#8221;, shall carry out the following duties and tasks:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a)&#160;&#160;&#160;&#160;Coordinate the work of the External Directors that the Company has appointed, in defense of the interests of all the shareholders of the Company, and echo the concerns of such Directors.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b)&#160;&#160;&#160;&#160;Request the Chairman of the Board of Directors to call meetings of the Board where appropriate in accordance with the rules of corporate governance.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c)&#160;&#160;&#160;&#160;Request, consequently, the inclusion of certain matters in the agenda of the meetings of the Board of Directors.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d)&#160;&#160;&#160;&#160;Oversee the evaluation by the Board of Directors of the Chairman thereof.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">172</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:174%">Whistleblowing</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have procedures in place that allow any employee or other people related to us, such as Board members, shareholders, suppliers, contractors or subcontractors, to anonymously and confidentially report instances of fraud, alterations of financial information or specific risks to Telef&#243;nica and its subsidiaries.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:174%">Code of Ethics</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The NYSE listing standards require U.S. companies to adopt a code of business conduct and ethics for directors, officers and employees, which at minimum must address certain specified topics, and promptly disclose any waivers of the code for directors or executive officers. In 2004 we adopted, as required by the Sarbanes-Oxley Act, a code of ethics that applied to our principal executive officer, principal financial officer and to our senior financial officers. In December 2006, we adopted a code of business conduct and ethics, the &#8220;Telef&#243;nica&#8217;s Responsible Business Principles&#8221;, which apply to all Telef&#243;nica Group employees. In March 2008, we decided to modify such Responsible Business Principles in order to incorporate within them all components of the code of ethics definition in Section 406 of Sarbanes Oxley Act, and consequently our code of ethics for senior officers was replaced by such Responsible Business Principles. These Responsible Business Principles were further modified in 2016 and 2017 in order to include, among others, several new principles related to privacy and data protection, security, responsible communication practices as well as to reinforce other principles including the anti-corruption principle. In 2021, we decided to modify again the Telef&#243;nica&#8217;s Responsible Business Principles in order to incorporate new principles related to digital rights and innovation, development and responsible use of technology. This update also incorporates new terms such as climate change, circular economy, conciliation and inclusion, key concepts in our company strategy.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We also have an internal code of conduct for securities markets issues to prevent insider trading misconduct and to control possible conflicts of interest. In addition, the Regulations of the Board of Directors set out in detail our directors&#8217; main obligations relating to conflicts of interest concerning business opportunities, misappropriation of our assets, confidentiality and non-competition.</span></div><div id="i2ad619f032b2435680b3f6486d100018_235"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16H. Mine Safety Disclosure</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div id="i2ad619f032b2435680b3f6486d100018_238"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 16I.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not applicable.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">173</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_241"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Part III</span></div><div id="i2ad619f032b2435680b3f6486d100018_244"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 17. Financial Statements</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have responded to Item 18 in lieu of responding to this Item.</span></div><div id="i2ad619f032b2435680b3f6486d100018_247"></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 18. Financial Statements</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:20.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please see pages F-6 through F-214.</span></div><div id="i2ad619f032b2435680b3f6486d100018_250"></div><div style="-sec-extract:summary;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Item 19. Exhibits</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:12.182%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:72.846%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.672%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exhibit Number</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Description</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit11.htm">1.1</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amended and Restated bylaws (English translation)</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit2111.htm">2.1</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Description of registrant's securities</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="http://www.sec.gov/Archives/edgar/data/814052/000095010313001873/dp36995_20f-ex0413.htm">4.1</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Agreement for the Sale and Purchase of Customer Relationship Management business, Atento, dated October 11, 2012 *</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="http://www.sec.gov/Archives/edgar/data/814052/000081405219000029/exhibit43.htm">4.3</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2018 Long-Term Incentive Plan Terms**</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="https://www.sec.gov/Archives/edgar/data/814052/000081405222000023/exhibit44.htm">4.4</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2021 Long-Term Incentive Plan Terms****</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_277">8.1</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Subsidiaries of Telef&#243;nica (see Note 1 to the Consolidated Financial Statements and Appendix I thereto)</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="https://www.sec.gov/Archives/edgar/data/814052/000081405221000034/exhibit101.htm">10.1</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Contribution Agreement, dated May 7, 2020, by and among Telef&#243;nica, S.A., Telefonica O2 Holdings Limited, Liberty Global, plc., Liberty Global Europe 2 Limited and Liberty Global Holdco Limited ***</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">#</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="https://www.sec.gov/Archives/edgar/data/814052/000081405221000034/exhibit102.htm">10.2</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Agreement for the sale and purchase of the towers Europe division  of Telxius Telecom, S.A. dated January 13, 2021, between Telxius Telecom, S.A. and  American Tower International, Inc.***</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">#</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="https://www.sec.gov/Archives/edgar/data/814052/000081405221000034/exhibit103.htm">10.3</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Agreement for the sale and purchase of the towers Latam division  of Telxius Telecom, S.A. dated January 13, 2021, between Telxius Telecom, S.A. and  American Tower International, Inc.***</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline">#</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="https://www.sec.gov/Archives/edgar/data/814052/000081405222000023/exhibit104.htm">10.4</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Shareholders Agreement, dated June 1, 2021, by and among Liberty Global plc, Liberty Global Europe 2 Limited, Liberty Global Holdco Limited, Telef&#243;nica, S.A. and Telefonica O2 Holdings Limited****</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:115%;position:relative;top:-3.5pt;vertical-align:baseline">#&#165;</span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit1211.htm">12.1</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certification of Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, Chairman and Chief Executive Officer of Telef&#243;nica, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit1221.htm">12.2</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certification of Laura Abasolo Garc&#237;a de Baquedano, Chief Finance and Control Officer of Telef&#243;nica, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="exhibit1311.htm">13.1</a></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Certification pursuant to 18 U.S.C.&#160;&#160;Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inline XBRL Instance Document &#8212; the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.SCH</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inline XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.CAL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inline XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.DEF</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inline XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.LAB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inline XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">101.PRE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inline XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:justify;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;Cover Page Interactive Data File &#8212; the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document</span></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">174</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="-sec-extract:summary;text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:5.927%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.099%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:83.674%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">*</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Incorporated by reference to Telef&#243;nica&#8217;s Annual Report on Form 20-F for the fiscal year ended December 31, 2012.</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">**</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Incorporated by reference to Telef&#243;nica&#8217;s Annual Report on Form 20-F for the fiscal year ended December 31, 2018.</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">***</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Incorporated by reference to Telef&#243;nica&#8217;s Annual Report on Form 20-F for the fiscal year ended December 31, 2020.</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">****</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Incorporated by reference to Telef&#243;nica&#8217;s Annual Report on Form 20-F for the fiscal year ended December 31, 2021.</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">#</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Schedules and/or attachments to the agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K but will be provided to the U.S. Securities and Exchange Commission or its staff upon request.</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#165;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Information has been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both not material and is the type that the registrant treats as private or confidential. Such information will be provided to the U.S. Securities and Exchange Commission or its staff upon request.</span></div></td></tr></table></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We agree to furnish to the SEC upon request, copies of the instruments defining the rights of the holders of our long-term debt and of our subsidiaries&#8217; long-term debt.</span></div><div style="text-align:justify;text-indent:20.25pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">175</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="-sec-extract:summary;text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</span></div><div style="text-align:center"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and has duly caused and authorized the undersigned to sign this Annual Report on its behalf.</span></div><div style="text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.783%"><tr><td style="width:1.0%"></td><td style="width:47.993%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.510%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:41.197%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">TELEF&#211;NICA, S.A.</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By:</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/ Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name: Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title: Chairman and Chief Executive Officer</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">TELEF&#211;NICA, S.A.</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By:</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/ Laura Abasolo Garc&#237;a de Baquedano</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name: Laura Abasolo Garc&#237;a de Baquedano</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title: Chief Finance and Control Officer</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date: February 23, 2023</span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">176</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_253"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt"><span><br/></span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:18pt;font-style:italic;font-weight:400;line-height:120%">Consolidated Financial Statements</span></div><div style="margin-top:9pt"><span><br/></span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:18pt;font-style:italic;font-weight:400;line-height:120%">Telef&#243;nica, S.A. and subsidiaries composing the Telef&#243;nica Group.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-1</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_256"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#d04a02;font-family:'Georgia',serif;font-size:14pt;font-weight:400;line-height:120%">Report of Independent Registered Public Accounting Firm</span></div><div><span><br/></span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">To the Board of Directors and Shareholders of Telef&#243;nica, S.A.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Opinions on the Financial Statements and Internal Control over Financial Reporting</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We have audited the accompanying consolidated statements of financial position of Telef&#243;nica, S.A.</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">and subsidiaries composing the Telef&#243;nica Group</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(the &#8220;Company&#8221;) as of December 31, 2022 and 2021, and the related consolidated income statements, consolidated statements of comprehensive income, consolidated statements of changes in equity, and consolidated statements of cash flows for each of the three years in the period ended December 31, 2022, including the related notes (collectively referred to as the &#8220;consolidated financial statements&#8221;).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We also have audited the Company&#8217;s internal control over financial reporting as of December 31, 2022, based on criteria established in </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Internal Control - Integrated Framework</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In our opinion, the consolidated</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021, and the results of its</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">operations and its</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">cash flows for each of the three years in the period ended December 31, 2022 in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2022, based on criteria established in </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Internal Control - Integrated Framework</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(2013)</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">issued by the COSO.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Basis for Opinions</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in Management&#8217;s Annual Report on Internal Control Over Financial Reporting appearing under Item 15. Our responsibility is to express opinions on the Company&#8217;s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As described in Management&#8217;s Annual Report on Internal Control over Financial Reporting, management has excluded Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A., Perpetual TopCo Limited and affiliates and BE-terna Acceleration Holding GmbH and affiliates from its assessment of internal control over financial reporting as of December 31, 2022 because they were acquired by the Company in purchase business combinations during 2022. We have also excluded Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A., Perpetual TopCo Limited and affiliates and BE-terna Acceleration Holding GmbH and affiliates from our audit of internal control over financial reporting. Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A., Perpetual TopCo Limited and affiliates and BE-terna Acceleration Holding GmbH and affiliates are wholly-owned subsidiaries whose total assets and total revenues excluded from management&#8217;s assessment and our audit of internal control over financial reporting collectively represent 0.3% and 0.8%, respectively, of the related consolidated financial statement amounts as of and for the year ended December 31, 2022.</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-2</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Definition and Limitations of Internal Control over Financial Reporting</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Critical Audit Matters</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that (i) relate to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Goodwill impairment assessment</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As described in Notes 3 and 7 to the consolidated financial statements, the Company's consolidated goodwill balance was &#8364;18,471 million at December 31, 2022 arising from business combinations completed in the countries in which the Company operates. Management conducts impairment tests for goodwill at least annually or more frequently, if there are certain events or changes indicating the possibility that the carrying amount may not be fully recoverable. The potential impairment loss is determined by assessing the recoverable amount of the cash-generating unit to which the goodwill relates. Management calculates the recoverable amount of each cash-generating unit as the higher of fair value less cost to sell and value in use. In assessing value in use, the projected cash flows are based on the strategic plans approved by the Board of Directors covering a three-year period including the closing year. Management&#8217;s cash flows projections included significant judgements when considering significant assumptions such as revenue growth, long-term OIBDA margin, long-term capital expenditure ratio, discount rates and perpetuity growth rates which would be significantly affected by the future trends in the economic, competitive, regulatory and technological environment in each of the countries in which the Company operates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The principal considerations for our determination that performing procedures relating to goodwill impairment assessment is a critical audit matter are the significant judgments made by management when developing the recoverable amount of the cash-generating units. This in turn led to a high degree of auditor judgement and effort in performing procedures and evaluating management&#8217;s significant assumptions, related to revenue growth, long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management&#8217;s goodwill impairment assessment, including controls over the determination of the recoverable amount of the Company&#8217;s cash-generating units. These procedures also included, among others, testing management&#8217;s process for developing the value in use estimate; evaluating the appropriateness of the discounted cash flow model; testing the completeness, accuracy, and relevance of underlying data used in the model; and evaluating the significant assumptions used by management, related to revenue growth, long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate. Evaluating whether the significant assumptions used by management were reasonable involved evaluating (1) the current and past performance of the cash-generating units, (2) the consistency with available external information, (3) the sensitivity analysis performed by management, and (4) the sufficiency of the Company&#8217;s goodwill impairment disclosures. Professionals with specialized skill and knowledge were used to assist in the evaluation of the Company&#8217;s discounted cash flow model and the discount rate and the perpetuity growth rate assumptions.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-3</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Revenue recognition (Unbilled revenue) </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As described in Notes 3 and 14 to the consolidated financial statements, of the total gross revenue recognized by the Company for the year ended December 31, 2022, &#8364;2,495 million relates to services rendered and not yet billed. When the revenue billing cycle does not align with the consolidated financial statements closing date, management estimates the amount to be recognized for services rendered and not yet billed at the year-end. These estimates are based on data obtained from different sources and revenue streams processed by the information systems and historical information.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The principal considerations for our determination that performing procedures relating to unbilled revenue is a critical audit matter are the complexity of the process used by management for estimating recognized revenue rendered and not yet billed, given the diversity of data sources, revenue streams and the number of systems involved. This in turn led to a high degree of audit subjectivity and effort in designing and performing audit procedures to evaluate whether the unbilled revenue estimates are recognized properly. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to revenue recognition, including controls over the determination of estimated unbilled revenue and IT general controls over the main systems involved in the process. These procedures also included, among others, (1) assessing the reasonableness of the criteria employed by management to estimate revenue rendered and not yet billed including the accuracy and completeness of the underlying data, and (2) testing billings completed following the year-end for consistency with the estimates made.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Tax and regulatory proceedings in Telefonica Brazil</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As described in Notes 3, 24 and 25 to the consolidated financial statements, the Company has  recognized provisions related to income tax, other taxes and regulatory proceedings in Telefonica Brazil amounting &#8364;19 million, &#8364;446 million and &#8364;336 million, respectively, and has disclosed contingent liabilities related to income tax, other taxes, and regulatory proceedings amounting &#8364;5,346 million, &#8364;6,009 million and &#8364;1,049 million, respectively as of December 31, 2022. The Company recognizes provision for the pending litigation when management determines that a loss is probable and the amount of the loss can be reliably estimated. No liability for an estimated loss is accrued in the consolidated financial statements for unfavorable outcomes when, after assessing the information available, management concludes that it is not probable that a loss has been incurred in any of the pending litigation. In case of income tax pending litigations, management determines whether is probable or not that taxation authority will accept the uncertain tax treatment. If the Company concludes it is not probable that taxation authority will accept the uncertain tax treatment, a provision for income tax is recognized. The Company discloses contingencies when management concludes no loss is probable or reasonably estimable, but it is reasonably possible that a loss may be incurred, and for income tax pending litigations, is probable that the taxation authority will accept the uncertain tax treatment.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The principal considerations for our determination that performing procedures relating to tax and regulatory proceedings in Telefonica Brazil is a critical audit matter are the significant judgments made by management when assessing the likelihood of a loss being incurred and when determining whether a reasonable estimate of the loss and possible outcomes for each claim can be made, which in turn led to a high degree of auditor judgment, effort, and subjectivity in evaluating management&#8217;s assessment of the loss contingencies associated with litigations claims.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management&#8217;s evaluation of recognition, measurement and disclosure of tax and regulatory proceedings in Brazil. These procedures also included, among others, (1) obtaining and evaluating the responses to our letters of audit inquiry with internal and external legal counsels, (2) evaluating the reasonableness of management&#8217;s assessment regarding unfavorable outcomes, and (3) evaluating the sufficiency of the management&#8217;s tax and regulatory contingency disclosures. Professionals with specialized skill and knowledge were used to assist in the evaluation of the management&#8217;s assessment regarding whether an unfavorable outcome is reasonably possible or probable.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Impairment assessment of the investment in VMED O2 UK Ltd</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As described in Notes 2, 3 and 10 to the consolidated financial statements, the Company's equity method investment in VMED O2 UK Ltd amounts to &#8364;10,779 million as of December 31, 2022. Management evaluates its investment in VMED O2 UK Ltd for impairment if there is objective evidence that indicates that the net investment </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-4</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">may be impaired including information about significant changes with an adverse effect that have taken place in the market or economic environment in which VMED O2 UK Ltd operates and indicates that the investment may not be recovered. Management has assessed the recoverable amount of the investment using valuation techniques, including discounted cash flow model that requires significant judgments when considering significant assumptions such as revenue growth rate, long-term EBITDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The principal considerations for our determination that performing procedures relating to the impairment assessment of the investment in VMED O2 UK Ltd is a critical audit matter are the significant judgments made by management in the discounted cash flow model, which in turn led to a high degree of auditor judgement, subjectivity and effort in evaluating management&#8217;s significant assumptions, related to revenue growth, long-term EBITDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management&#8217;s impairment assessment, including controls over the valuation of the VMED 02 UK Ltd equity method investment. These procedures also included, among others, testing management's process for determining the value in use of its investment in VMED O2 UK Ltd; evaluating the appropriateness of the discounted cash flow model; testing the completeness and accuracy of the underlying data used in the model; and evaluating the reasonableness of the significant assumptions used by management, related to revenue growth, long-term EBITDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate. Evaluating whether the significant assumptions used by management were reasonable involved evaluating (1) the consistency with external available information, (2) the sensitivity analysis performed by management, and (3) the sufficiency of the Company&#8217;s impairment assessment disclosures. Professionals with specialized skill and knowledge were used to assist in the evaluation of the Company&#8217;s discounted cash flow model and the discount rate and the perpetuity growth rate assumptions.</span></div><div style="text-align:justify"><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">/s/ <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:AuditorName" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTYvZnJhZzoxNTAzYTA2MWEzMzQ0NzZhYTUyYWQ0OTM1M2VjMDM3My90ZXh0cmVnaW9uOjE1MDNhMDYxYTMzNDQ3NmFhNTJhZDQ5MzUzZWMwMzczXzE5MzU5_0b3db54e-aadd-4979-86ca-a3952dbaf261">PricewaterhouseCoopers Auditores, S.L.</ix:nonNumeric></span></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="dei:AuditorLocation" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTYvZnJhZzoxNTAzYTA2MWEzMzQ0NzZhYTUyYWQ0OTM1M2VjMDM3My90ZXh0cmVnaW9uOjE1MDNhMDYxYTMzNDQ3NmFhNTJhZDQ5MzUzZWMwMzczXzE5MzYw_db78b03b-53f2-4ac8-9e85-16d686eaf06b">Madrid, Spain</ix:nonNumeric></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">February 23, 2023</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">We have served as the Company&#8217;s auditor since 2017.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-5</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_259"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:62.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.345%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.052%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.053%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated Statements of financial position</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">ASSETS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">A) NON-CURRENT ASSETS</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMtMi0xLTEtNTEwNDQy_81dc9119-8974-4889-9d69-fc53653b98f3">87,053</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMtMy0xLTEtNTEwNDQy_48038bf9-c0ac-495a-bd98-f64c5c43f670">84,284</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 6)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzQtMi0xLTEtNTEwNDQy_d0b7a46b-54e4-4859-ba29-e61935f22983">12,017</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzQtMy0xLTEtNTEwNDQy_42a977d7-09b8-40b8-8c1e-b43c18d6add3">11,725</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Goodwill</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 7)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Goodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzUtMi0xLTEtNTEwNDQy_f1216ae4-13c3-4dc1-8b03-cbd054618672">18,471</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Goodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzUtMy0xLTEtNTEwNDQy_da1139b2-cee0-4179-a78d-334c8edc1bd8">16,519</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 8)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzYtMi0xLTEtNTEwNDQy_57098e6c-5570-4fd3-8893-c48c487ab80f">23,714</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzYtMy0xLTEtNTEwNDQy_20acf0e8-7569-4a52-9ad1-1cfd82ae6637">22,725</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 9)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzctMi0xLTEtNTEwNDQy_f22f229d-45f0-4be3-8037-348e2443e840">8,279</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzctMy0xLTEtNTEwNDQy_95ae7411-7009-4199-b358-4466e888e481">7,579</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzgtMi0xLTEtNTEwNDQy_ef687348-e892-469f-a361-2ebd6cc61a5b">11,587</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzgtMy0xLTEtNTEwNDQy_60845112-b411-4ac3-bf17-6e292ca2a3f3">12,773</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 12)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzktMi0xLTEtNTEwNDQy_ed7651e1-cf07-4544-8d97-9e6fc49d5fe7">8,101</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzktMy0xLTEtNTEwNDQy_595a749a-1e92-401c-9800-5c4f67827e41">7,347</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 25)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzEwLTItMS0xLTUxMDQ0Mg_de99384b-fc45-47d8-8bdc-935e18dcb18e">4,884</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzEwLTMtMS0xLTUxMDQ0Mg_6be3cae7-1355-4b61-ac5c-8b01957ec8dd">5,616</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">B) CURRENT ASSETS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzExLTItMS0xLTUxMDQ0Mg_381bb335-5701-4e5c-8768-e03eca9c3e25">22,589</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzExLTMtMS0xLTUxMDQ0Mg_e3021ecb-d6d8-4350-8b9e-34d2383f7484">24,929</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Inventories</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 13)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Inventories" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzEyLTItMS0xLTUxMDQ0Mg_04865424-32ed-42d5-b6e5-fd68227e9fa1">1,546</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Inventories" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzEyLTMtMS0xLTUxMDQ0Mg_1c4fa91d-495a-41de-9ed5-1e5e7c589efe">1,749</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzEzLTItMS0xLTUxMDQ0Mg_5c8c2cd5-b9b7-4704-a6b2-7f43fbc99326">9,134</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzEzLTMtMS0xLTUxMDQ0Mg_bcd9f5ba-cdf4-4e19-b68c-07b97a31d9ac">8,287</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Tax receivables</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 25)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentTaxAssetsCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE0LTItMS0xLTUxMDQ0Mg_33f08e2a-33e5-4b45-8015-3e62eacd4c0d">2,213</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentTaxAssetsCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE0LTMtMS0xLTUxMDQ0Mg_3314cd29-46f2-44fd-8e6b-1b0409dbaaca">2,120</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 15)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE1LTItMS0xLTUxMDQ0Mg_5c731c1d-8e91-445e-a2e4-7489cd4f6f4f">2,444</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE1LTMtMS0xLTUxMDQ0Mg_8eeed7e0-c890-4488-8e43-ee917571d7fe">3,835</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE2LTItMS0xLTUxMDQ0Mg_3c085476-fc13-49bd-95d5-a269d9db2cee">7,245</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE2LTMtMS0xLTUxMDQ0Mg_5352a646-efb8-40cb-99e8-5d01eb957b25">8,580</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 30)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE3LTItMS0xLTUxMDQ0Mg_a8063177-e6e6-44e0-8cbf-4e8a47254e36">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE3LTMtMS0xLTUxMDQ0Mg_09610fca-db12-48f8-80a9-32c6fa7e8866">358</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TOTAL ASSETS (A+B)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE4LTItMS0xLTUxMDQ0Mg_4c950b67-5eb6-478a-b16f-e089f4518af9">109,642</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzE4LTMtMS0xLTUxMDQ0Mg_464cdf6b-f57e-4923-b92f-58aa2226d85a">109,213</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">EQUITY AND LIABILITIES</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">A) EQUITY</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzIyLTItMS0xLTUxMDQ0Mg_ad0c10c7-07fa-4ec7-8d90-f1909b29b1fb">31,708</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzIyLTMtMS0xLTUxMDQ0Mg_7fc3566c-80b2-488c-a344-271981d237b8">28,684</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity attributable to equity holders of the parent and other holders of equity instruments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:EquityAttributableToOwnersOfParent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzIzLTItMS0xLTUxMDQ0Mg_8e1c9f1e-f306-45a6-b308-16aefff2dbee">25,088</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:EquityAttributableToOwnersOfParent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzIzLTMtMS0xLTUxMDQ0Mg_f31e5a23-792d-4c70-9565-12d60febe1f6">22,207</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Equity attributable to non-controlling interests</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI0LTItMS0xLTUxMDQ0Mg_6b8d59de-7f4e-4e92-86bf-0a8ee1aeaa02">6,620</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI0LTMtMS0xLTUxMDQ0Mg_01cad695-0bf7-49b0-9513-de7cb9c3c805">6,477</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">B) NON-CURRENT LIABILITIES</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI1LTItMS0xLTUxMDQ0Mg_b52dc75a-66fb-4c59-b015-3ff6130e1b1f">54,834</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI1LTMtMS0xLTUxMDQ0Mg_4c2cd78b-f8f4-4821-9343-a2ecdd624b8c">55,034</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI2LTItMS0xLTUxMDQ0Mg_a458ad6e-9c8a-4c7b-8e26-af1ffcec6c7e">35,059</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI2LTMtMS0xLTUxMDQ0Mg_92b5e847-f579-4838-b483-5e8a07a359e7">35,290</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 20)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI3LTItMS0xLTUxMDQ0Mg_50f15151-6213-4450-9f99-dd667cefcfeb">6,657</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI3LTMtMS0xLTUxMDQ0Mg_ca01d3d9-1f1c-4887-bc19-5c5c50395e3c">6,391</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other non-current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 21)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI4LTItMS0xLTUxMDQ0Mg_c7868198-160d-43f0-aba5-1d035b7e02a5">3,546</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI4LTMtMS0xLTUxMDQ0Mg_8a46bfc8-f336-410e-ab3b-3506428a0094">3,089</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 25)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI5LTItMS0xLTUxMDQ0Mg_349682cd-15a7-48b2-94fd-5ea3f4b98645">3,067</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzI5LTMtMS0xLTUxMDQ0Mg_2266da11-2597-42c3-8030-d60f460b0ef7">2,602</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current provisions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 24)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMwLTItMS0xLTUxMDQ0Mg_9e12da78-60df-49c9-9700-ccfcbca3ccb3">6,505</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMwLTMtMS0xLTUxMDQ0Mg_c739c2d2-3852-4f81-877e-3e93ee07d546">7,662</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">C) CURRENT LIABILITIES</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMxLTItMS0xLTUxMDQ0Mg_1d0906f6-34d2-4383-96d7-69d4f1190bfa">23,100</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMxLTMtMS0xLTUxMDQ0Mg_10b29dc9-bc86-4294-8d82-419fd6af2191">25,495</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMyLTItMS0xLTUxMDQ0Mg_06712cb9-1fae-438f-a1d3-0088044b55b7">4,020</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMyLTMtMS0xLTUxMDQ0Mg_bd3a9c61-057f-406b-baff-bfcb05e435f8">7,005</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 20)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMzLTItMS0xLTUxMDQ0Mg_6b622eaf-9c17-4396-ae77-ad88493045c1">2,020</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzMzLTMtMS0xLTUxMDQ0Mg_9fcc55fb-167b-42b1-8995-effe11474211">1,679</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 22)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentPayablesAndOtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM0LTItMS0xLTUxMDQ0Mg_7512f5a1-7e41-482b-84cd-a4886adbb008">13,509</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentPayablesAndOtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM0LTMtMS0xLTUxMDQ0Mg_eaf1c769-d19a-4dc1-840e-778957c8102c">13,210</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current tax payables</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 25)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentTaxLiabilitiesCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM1LTItMS0xLTUxMDQ0Mg_e2403e4b-6d3b-4ac1-9b68-ab037177dcd9">1,920</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentTaxLiabilitiesCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM1LTMtMS0xLTUxMDQ0Mg_92c9fcef-cd1b-483c-bcbd-5e8092ff78db">2,026</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current provisions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 24)</span></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Liabilities associated with non-current assets and disposal groups held for sale</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 30)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM3LTItMS0xLTUxMDQ0Mg_662daf68-f52b-44ee-a3cb-1e79be07cf38">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM3LTMtMS0xLTUxMDQ0Mg_965c5d7b-95d9-4ab9-b305-23bb0b50e29d">134</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TOTAL EQUITY AND LIABILITIES (A+B+C)</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:EquityAndLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM4LTItMS0xLTUxMDQ0Mg_ee94370a-49fd-4d30-819b-5f1b56eb6721">109,642</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:EquityAndLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNTkvZnJhZzpiNGIzZjdhNDE1YjA0YjdhODg1ZDcwZjQyY2QwNTljMC90YWJsZToyNjVhNGUxOWUyZDQ0OTM2ODQ1OWZjZmM1ZWU4YjEyMS90YWJsZXJhbmdlOjI2NWE0ZTE5ZTJkNDQ5MzY4NDU5ZmNmYzVlZThiMTIxXzM4LTMtMS0xLTUxMDQ0Mg_9370c92c-318f-47f7-aee2-8f636cd76666">109,213</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The accompanying notes and appendices are an integral part of these consolidated statements of financial position.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-6</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_262"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:47.362%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.784%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.784%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.784%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.786%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #b2b2b2;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated income statements</span></td><td colspan="3" style="border-top:1pt solid #b2b2b2;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #b2b2b2;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #b2b2b2;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:1pt solid #b2b2b2;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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#bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzMtMy0xLTEtNTEwNDQy_38501e56-5c05-4e7d-b3c0-bd03f8cff64e">39,277</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzMtNC0xLTEtNTEwNDQy_a749f950-087f-44e1-8069-51540017c865">43,076</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 26)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzQtMi0xLTEtNTEwNDQy_59425adb-9cbd-4ed6-8f62-d2c7208e54b3">2,065</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzQtMy0xLTEtNTEwNDQy_ed90647f-2f8d-4910-be8f-edc199c968aa">12,673</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzQtNC0xLTEtNTEwNDQy_d9bbfab3-4531-4802-895c-cf95acc33b90">1,587</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Supplies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:RawMaterialsAndConsumablesUsed" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzUtMi0xLTEtNTEwNDQy_2d4e2b19-b082-4bb8-b12b-06ef63761e96">12,941</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:RawMaterialsAndConsumablesUsed" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzUtMy0xLTEtNTEwNDQy_198dc02c-47d7-4809-a9ea-225a1c962552">12,258</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RawMaterialsAndConsumablesUsed" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzUtNC0xLTEtNTEwNDQy_fea7409d-abee-44fb-aa48-5e568ebbefbe">13,014</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Personnel expenses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 26)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:EmployeeBenefitsExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzYtMi0xLTEtNTEwNDQy_0182788f-dfa2-4ddb-84ef-da24f83afad3">5,524</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:EmployeeBenefitsExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzYtMy0xLTEtNTEwNDQy_508c86bb-9a0d-4fce-adc9-e191df65a787">6,733</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:EmployeeBenefitsExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzYtNC0xLTEtNTEwNDQy_14eb7b27-ea2b-4903-9bc2-3bbdd9349e8a">5,280</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 26)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherExpenseByNature" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzctMi0xLTEtNTEwNDQy_5204feb9-250f-4629-91b8-e5e345cc667d">10,741</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherExpenseByNature" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzctMy0xLTEtNTEwNDQy_c2287dc5-156e-4d4f-9688-70994846bb6e">10,976</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherExpenseByNature" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzctNC0xLTEtNTEwNDQy_19037ece-da07-4de7-8a62-a8b201bab5f5">12,871</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 26)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzgtMi0xLTEtNTEwNDQy_c7c0792c-bae9-4653-9ce8-9228e05ae5ed">8,796</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzgtMy0xLTEtNTEwNDQy_fafff661-85b0-4ff2-b8b0-a947130f4069">8,397</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossFromOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzktMi0xLTEtNTEwNDQy_78e8c3b2-d6e7-4b54-9c58-5bb16c66b3ca">4,056</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossFromOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzktMy0xLTEtNTEwNDQy_a3d8211b-81e0-4b20-87a3-c6c15f5ff9a9">13,586</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossFromOperatingActivities" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzEwLTMtMS0xLTUxMDQ0Mg_348fed7c-1fc7-4915-a6e5-7709fd61c562">127</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:FinanceIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzExLTItMS0xLTUxMDQ0Mg_0938d3f7-8c17-4d5e-a025-69e75d5984b3">1,803</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exchange gains</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:NetForeignExchangeGain" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzEyLTItMS0xLTUxMDQ0Mg_8c41d5fe-73bc-4b5e-a218-3e5cf8909612">2,910</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:NetForeignExchangeGain" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzEyLTMtMS0xLTUxMDQ0Mg_f73ac519-4427-4dc8-93cd-ca292033835f">2,801</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:NetForeignExchangeGain" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzEyLTQtMS0xLTUxMDQ0Mg_2697fd16-fe3a-4423-91bb-b97efbb3413a">3,847</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzEzLTItMS0xLTUxMDQ0Mg_75e04308-2c12-463a-a8c9-69e0071bc610">3,030</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzEzLTMtMS0xLTUxMDQ0Mg_f9a913d3-0ca6-49c9-8e7d-4530b9cec00b">2,028</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzEzLTQtMS0xLTUxMDQ0Mg_99b273c2-fb8e-4167-afd8-b3129bff45c6">2,417</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exchange losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE0LTItMS0xLTUxMDQ0Mg_fb7c59c4-d442-47d8-8cf8-dad4eadbc1da">2,996</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE0LTMtMS0xLTUxMDQ0Mg_2a47485b-5b90-4cf1-8975-4edf3c1312d4">2,751</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE0LTQtMS0xLTUxMDQ0Mg_7aadb7d4-c888-4a40-9211-aecf393ff430">3,665</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:NetFinancialExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE1LTItMS0xLTUxMDQ0Mg_dd7cca31-0189-4e71-90c4-9b67a387127c">1,313</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:NetFinancialExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE1LTMtMS0xLTUxMDQ0Mg_571ca4ce-a800-44ec-a774-2132bd05e2e4">1,364</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:NetFinancialExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE1LTQtMS0xLTUxMDQ0Mg_314c3dff-f837-482e-9c89-7275ed938414">1,558</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">PROFIT BEFORE TAX</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossBeforeTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE2LTItMS0xLTUxMDQ0Mg_6d60c413-12d8-4f66-b869-10cddd48cc8c">2,960</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossBeforeTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE2LTMtMS0xLTUxMDQ0Mg_f509e11c-3586-4757-a435-b3eb58e838d3">12,095</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossBeforeTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE2LTQtMS0xLTUxMDQ0Mg_f7fd517e-3d32-435a-8626-076f4ca58794">2,583</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Corporate income tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 25)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE3LTItMS0xLTUxMDQ0Mg_60e218f9-0af9-428a-9767-893a7e54ea45">641</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE3LTMtMS0xLTUxMDQ0Mg_1d5be2a3-e638-465a-b929-7bc47def205e">1,378</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE3LTQtMS0xLTUxMDQ0Mg_51d21c0f-49bf-42f9-bb8b-d99e233ad657">626</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">PROFIT FOR THE YEAR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE4LTItMS0xLTUxMDQ0Mg_57c8691b-9a50-42d5-8351-cd895b73a605">2,319</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE4LTMtMS0xLTUxMDQ0Mg_88c0fa0a-356f-467c-b604-d09a35a6c907">10,717</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE4LTQtMS0xLTUxMDQ0Mg_bebff0b5-e083-4ae6-bd6e-ddda46ab4c55">1,957</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Attributable to equity holders of the parent</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE5LTItMS0xLTUxMDQ0Mg_00e7bb8b-27c9-4057-9c63-c0b7c557fc81">2,011</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE5LTMtMS0xLTUxMDQ0Mg_cb4b4144-07e4-40df-8db0-fa0c7e073c67">8,137</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzE5LTQtMS0xLTUxMDQ0Mg_99806730-626b-42b6-83ba-5f03a46466fa">1,582</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Attributable to non-controlling interests</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIwLTItMS0xLTUxMDQ0Mg_20cbde63-a40e-431c-bc1b-3916b8e390dd">308</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIwLTMtMS0xLTUxMDQ0Mg_b242c25f-64f9-4d96-a400-e0bf7fa009f7">2,580</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIwLTQtMS0xLTUxMDQ0Mg_3d5f1e41-fd07-40d5-9fda-efc89fec3697">375</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basic earnings per share (euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 26)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="ifrs-full:BasicEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIxLTItMS0xLTUxMDQ0Mg_2c33e63c-b063-492a-a559-83d16afbbe04">0.31</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="2" name="ifrs-full:BasicEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIxLTMtMS0xLTUxMDQ0Mg_68e098ae-935d-4e8a-a84a-04d11b3e0e42">1.34</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="2" name="ifrs-full:BasicEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIxLTQtMS0xLTUxMDQ0Mg_46ce8a87-41f7-454d-b7d8-d3d00ba21995">0.22</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #cbcbcb;border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Diluted earnings per share euros)</span></td><td colspan="3" style="border-bottom:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 26)</span></td><td colspan="2" style="border-bottom:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIyLTItMS0xLTUxMDQ0Mg_b8ed2333-fa23-4f43-8aac-e5dde4c96172">0.31</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="2" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIyLTMtMS0xLTUxMDQ0Mg_06900e4e-8c1b-42da-8697-76334e7bd97d">1.34</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="2" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjIvZnJhZzo3ZmQzOGM0Y2FhM2Q0NDcyYWRiMjA5MDJiZDE0ZDdiMy90YWJsZTo4M2IxM2Y4ZTMyZjg0NDJjYmU2ZDUxNWZiNDBmNjlkMy90YWJsZXJhbmdlOjgzYjEzZjhlMzJmODQ0MmNiZTZkNTE1ZmI0MGY2OWQzXzIyLTQtMS0xLTUxMDQ0Mg_55c0fa85-40a6-4a27-8f5f-be813ae3cb50">0.22</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The accompanying notes and appendices are an integral part of these consolidated income statements.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-7</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_265"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:70.307%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.433%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated Statements of comprehensive income</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Profit for the year</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzItMS0xLTEtNTEwNDQy_d3eab639-3345-4ff3-bb5c-ca1ccfc09a3f">2,319</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzItMi0xLTEtNTEwNDQy_ed1874ec-7824-48e0-afd1-dee7d984d7db">10,717</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzItMy0xLTEtNTEwNDQy_454f9d63-342d-4ed1-9504-21987962067e">1,957</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other comprehensive (loss) income </span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzQtMS0xLTEtNTEwNDQy_c9a878c6-5186-4634-ab22-75fab34bbeb9">29</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzQtMi0xLTEtNTEwNDQy_05e61573-90e8-482d-a3e2-92cde5136ae3">2</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" scale="6" 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contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzUtMS0xLTEtNTEwNDQy_0ce31430-5ef3-4963-bebf-0b13bf6d73a7">9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzUtMi0xLTEtNTEwNDQy_16cbef25-afad-4e50-b5ec-d3b354b2ae7b">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzgtMS0xLTEtNTEwNDQy_02d49d07-7f84-436c-b73c-26e6685fe06a">20</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzgtMi0xLTEtNTEwNDQy_20c3729a-e87c-437a-875c-97fdb55ff1c8">1</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzgtMy0xLTEtNTEwNDQy_dcd99b60-06bf-4234-89f0-dc8671fed9b9">1</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gains (losses) on hedges</span></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzktMi0xLTEtNTEwNDQy_38c1783c-1e5e-41a6-aa01-183ab1875e3f">1,593</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzktMy0xLTEtNTEwNDQy_2139bbbb-25ae-465c-92df-68d98c3d0f65">765</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax impact</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzEwLTEtMS0xLTUxMDQ0Mg_38c14b1e-2487-49a3-bd1a-f4e378515706">282</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzEwLTItMS0xLTUxMDQ0Mg_07bc95e5-01cd-4f70-87d3-2aa408e55471">395</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzEwLTMtMS0xLTUxMDQ0Mg_98644d4c-6514-43b1-ae25-ea994469c51e">183</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzExLTItMS0xLTUxMDQ0Mg_07ce9956-e16f-4c91-bf82-d9ea8fd9e2b3">1,874</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax impact</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzEyLTEtMS0xLTUxMDQ0Mg_9c357fe5-a3bc-4a8f-b8b3-087f85f6a3ff">181</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedges" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Gainslossesoncashflowhedgescostsbeforetax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzE0LTItMS0xLTUxMDQ0Mg_bc7dade8-0df1-4f8d-b985-015c79d0047a">128</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax impact</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzE1LTEtMS0xLTUxMDQ0Mg_d4719235-d8cb-4438-a963-ae1a8abfb8a3">15</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzE1LTMtMS0xLTUxMDQ0Mg_1b3352db-8aaa-4484-ad1a-3df2b212b918">24</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzE2LTEtMS0xLTUxMDQ0Mg_b49f35ce-f45b-4535-898f-39dcdda1c801">9</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Reclassificationadjustmentsoncashflowhedgescostsbeforetax" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzE4LTItMS0xLTUxMDQ0Mg_fd914c88-0fff-4d16-988f-054c9f172166">89</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:Othercomprehensiveincomenetoftaxcashflowhedgescosts" scale="6" 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzIzLTItMS0xLTUxMDQ0Mg_978df8c3-57cf-426f-acdc-deaa153c4502">32</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzIzLTMtMS0xLTUxMDQ0Mg_256b7fb8-a7db-490f-a9b1-3ce305952e8b">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Translation differences (Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzI0LTEtMS0xLTUxMDQ0Mg_57fd3f06-62cf-44cc-9f72-26c42894f234">1,562</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzI0LTItMS0xLTUxMDQ0Mg_7267e6e0-836c-4629-a4e3-704e40ded137">4,098</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzI0LTMtMS0xLTUxMDQ0Mg_84f4ff5b-0447-4951-bc6e-3d6fa225c3aa">7,236</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total other comprehensive  income (loss) recognized for the year that may 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzI1LTItMS0xLTUxMDQ0Mg_1c719336-ea02-4f1b-bdf8-94126be02ba0">4,022</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzI1LTMtMS0xLTUxMDQ0Mg_e4674ef7-7c4e-4b6d-bac3-428748c23e88">7,184</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans </span></td><td colspan="2" style="border-top:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzI2LTMtMS0xLTUxMDQ0Mg_172e360a-3e3e-44dc-93cf-fc443654d39f">33</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax impact</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzI3LTEtMS0xLTUxMDQ0Mg_e17c92a4-e42a-4d18-bd1f-b82664180874">32</ix:nonFraction>)</span></td><td style="border-top:1pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzMyLTItMS0xLTUxMDQ0Mg_42a12bf4-4775-42bc-b1cd-6185e165977f">48</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjUvZnJhZzo0M2EzYjBlNmVmM2Q0MmI4OGU1NjcxYjM1ZWYwOTA5NC90YWJsZTo0MDdkMTVjZGZlOTc0MjU0YTY4NTBmOTY4MTZmYzVmNi90YWJsZXJhbmdlOjQwN2QxNWNkZmU5NzQyNTRhNjg1MGY5NjgxNmZjNWY2XzM1LTMtMS0xLTY4MTcxNQ_569dbd74-9c52-447b-a15f-b7b6038d2704">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The accompanying notes and appendices are an integral part of these consolidated statements of comprehensive income.                                     </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-8</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_268"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.028%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.771%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.894%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.894%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.771%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.894%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.771%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.894%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.894%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.163%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.191%"></td><td style="width:0.1%"></td></tr><tr style="height:26pt"><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY</span></td><td colspan="33" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Attributable to equity holders of the parent and other holders of equity instruments</span></td><td colspan="3" rowspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Non-contro-lling interests (Note 17)</span></td><td colspan="3" rowspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total equity</span></td></tr><tr style="height:47pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Share capital</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Share premium</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Treasury Shares</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Other equity instru-ments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Legal reser-ve</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Retained earnings</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fair value<br/>finan-cial<br/>assets<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Equity of associa-tes and others</span></td><td colspan="3" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 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name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzUtMTMtMS0xLTUxMDQ0Mg_a5f6e1d4-7f15-40ea-ad62-992378852980">4,227</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Dividends and distribution of profit (Note 17)</span></td><td colspan="2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i456c33e4d2bd4a14a6562f725fa0c89b_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzYtNi0xLTEtNTEwNDQy_4479ad11-780d-420e-88cd-c66160a55737">1,223</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzYtMTEtMS0xLTUxMDQ0Mg_604c694d-bfcd-4de7-8d4a-9d3a7f6b4601">1,067</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if1a4275a956e4ddc9947753acf921ddc_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaid" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzYtMTMtMS0xLTUxMDQ0Mg_34dd5f82-9e05-42c1-a9b3-4db34a67a15a">1,478</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net movement in treasury shares</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i260b75fbc73c4e4cbbbafd8cf0d2d6fe_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzctNi0xLTEtNTEwNDQy_d1f73075-bb84-4e33-9678-fd2dc6474a49">22</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icd5213276e524e7895e491e0f5289edd_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzctMTEtMS0xLTUxMDQ0Mg_28489e88-76bc-409f-98bb-0f0ea96d2dcb">364</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzctMTMtMS0xLTUxMDQ0Mg_28530e44-862e-4426-be98-e1d32a03195d">364</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i456c33e4d2bd4a14a6562f725fa0c89b_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzgtNi0xLTEtNTEwNDQy_1fa0344c-ab88-4413-ae8f-022001effb1d">936</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icd5213276e524e7895e491e0f5289edd_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzgtMTEtMS0xLTUxMDQ0Mg_5d94b034-dc62-4bc4-bec4-dae8ad7fc541">936</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if1a4275a956e4ddc9947753acf921ddc_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzgtMTItMS0xLTUxMDQ0Mg_60e940ad-14a0-44a8-8992-ae8dd69af4c0">155</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzgtMTMtMS0xLTUxMDQ0Mg_e75b249e-1c47-4188-8291-044ab1aa3463">781</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia4b0c851cd0e4b47badbcffc313a538c_D20220101-20221231" decimals="-6" name="ifrs-full:ReductionOfIssuedCapital" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzktMS0xLTEtNTEwNDQy_6a22e7ef-bbdd-4aef-bd4b-fee8ce323046">139</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i260b75fbc73c4e4cbbbafd8cf0d2d6fe_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ReductionOfIssuedCapital" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzktMy0xLTEtNTEwNDQy_2baef220-e386-4cea-912b-e3e9cba64857">548</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ReductionOfIssuedCapital" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzktMTMtMS0xLTUxMDQ0Mg_958a7245-eb98-455c-95f3-264246e32f52">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Undated deeply subordinated securities (Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i456c33e4d2bd4a14a6562f725fa0c89b_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzEwLTYtMS0xLTUxMDQ0Mg_ec3ed0ec-898f-4bb1-be7c-06ba819e0c6e">201</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9e0713bdc8774ef580d558f5e2c9c6be_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzEyLTYtMS0xLTUxMDQ0Mg_55e610fe-498e-4e21-ba16-d06ca3f028e7">27,698</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i00c215e96be747da80b5ad00595d4cea_I20221231" decimals="-6" sign="-" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzEyLTctMS0xLTUxMDQ0Mg_b845155f-df33-4cbe-b3f9-47ad4c1bfad4">449</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifc69225ed14f41429592067c09e047fd_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzEyLTgtMS0xLTUxMDQ0Mg_3c157a86-c4ad-4afe-ac93-27ffdc312166">725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6d25bb5184494791b1ce336f99138713_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzEyLTEyLTEtMS01MTA0NDI_d21b4340-f72e-4ea5-ab20-4cd51d26867d">6,620</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTphZTM2ZDMzNmY2OTg0MTZlOWQwNWVmMGM4ZmRlZDE0Ny90YWJsZXJhbmdlOmFlMzZkMzM2ZjY5ODQxNmU5ZDA1ZWYwYzhmZGVkMTQ3XzEyLTEzLTEtMS01MTA0NDI_91d2d48e-703d-48cd-be41-65e11fb5c778">31,708</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The accompanying notes and appendices are an integral part of these consolidated statements of changes in equity.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-9</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:18.723%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.626%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.948%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.948%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.333%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.745%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.095%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.333%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.214%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.214%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.214%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.626%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.948%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.633%"></td><td style="width:0.1%"></td></tr><tr style="height:26pt"><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY</span></td><td colspan="33" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Attributable to equity holders of the parent and other holders of equity instruments</span></td><td colspan="3" rowspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Non-contro-lling interests (Note 17)</span></td><td colspan="3" rowspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total equity</span></td></tr><tr style="height:47pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Share capital</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Share premium</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Treasury Shares</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Other equity instru-ments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Legal reser-ve</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzItMTItMS0xLTUxMDQ0Mg_c3c2bf56-163a-4045-9fd7-fad6b5660c4c">7,025</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" 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1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia9cf994fc3b344e89cf25e4120c8895a_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzMtNi0xLTEtNTEwNDQy_4002ed20-9b75-4582-93e1-75eb177dafb6">8,137</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other comprehensive income (loss) for the year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia9cf994fc3b344e89cf25e4120c8895a_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtNi0xLTEtNTEwNDQy_a8ce195c-550b-4547-8864-ffb5b0a31bd5">465</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7613925a81234ebfbb3cbcbad24ebe4a_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtNy0xLTEtNTEwNDQy_605f76a7-4056-44e5-b2ba-32680e9f102a">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7a868e78583f447fb9d60274fe5789d7_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtOC0xLTEtNTEwNDQy_baf0e5b5-2bec-4445-82db-48e0b9bdb3da">209</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie65d4b82d82e4ca2baa1ae4ac92138c7_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtOS0xLTEtNTEwNDQy_c22138ba-4530-47fa-8639-51acd08c4d1d">121</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4563c7b5bfd4568b519cb28ce099fe0_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtMTAtMS0xLTUxMDQ0Mg_103229bd-87f8-4107-8636-5021a6e08614">4,088</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifee0d871c0eb4ba5bbde457db43eff4e_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtMTEtMS0xLTUxMDQ0Mg_e16feb40-6093-482a-9a6c-65712906a73e">4,515</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic6deb6386ffb4b339d54eb4b49fec52d_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtMTItMS0xLTUxMDQ0Mg_5c866066-1527-4467-a313-4edf48385d44">42</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzQtMTMtMS0xLTUxMDQ0Mg_66e8c671-d166-4416-8643-ce808c22ceb8">4,557</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total comprehensive income (loss) for the year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie65d4b82d82e4ca2baa1ae4ac92138c7_D20210101-20211231" decimals="-6" name="ifrs-full:ComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzUtOS0xLTEtNTEwNDQy_4408fadf-404b-4666-af96-521f378135c9">121</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzUtMTEtMS0xLTUxMDQ0Mg_ab96f2b3-b7c2-41cc-af6e-e8af7a0ca333">12,652</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic6deb6386ffb4b339d54eb4b49fec52d_D20210101-20211231" decimals="-6" name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzUtMTItMS0xLTUxMDQ0Mg_d32a750b-680c-4f41-b925-7bdfb3136b68">2,622</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzUtMTMtMS0xLTUxMDQ0Mg_7cd698f5-7983-4e37-a61a-8ccf77750e85">15,274</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Dividends and distribution of profit (Note 17)</span></td><td colspan="2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia9cf994fc3b344e89cf25e4120c8895a_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzYtNi0xLTEtNTEwNDQy_3bfd63bf-9165-4e94-95da-08791b87c18f">936</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifee0d871c0eb4ba5bbde457db43eff4e_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzYtMTEtMS0xLTUxMDQ0Mg_6f859071-67fb-49d3-8045-f0f4c0b306fe">600</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzYtMTMtMS0xLTUxMDQ0Mg_eeb05b84-2277-44c4-a24f-a8bfea6cf817">3,651</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net movement in treasury shares</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e049cfadb9e4d57ab74155ec161599f_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzctMy0xLTEtNTEwNDQy_8950ea49-4414-4c3e-9d70-e5ff3a9de103">459</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia9cf994fc3b344e89cf25e4120c8895a_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzctNi0xLTEtNTEwNDQy_1406d534-ff6e-4c2a-a9d8-f282ca04527b">20</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifee0d871c0eb4ba5bbde457db43eff4e_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzctMTEtMS0xLTUxMDQ0Mg_d452f792-2729-42b0-acde-828b15aac1b8">479</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzctMTMtMS0xLTUxMDQ0Mg_dd0e492d-db6e-4c9d-a10e-6e9ca381c2bf">479</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Acquisitions and disposals of non-controlling interests and business combinations </span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(Note 17)</span></div></td><td colspan="2" style="border-top:1pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia9cf994fc3b344e89cf25e4120c8895a_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzgtNi0xLTEtNTEwNDQy_912ce463-302c-43f9-bcd9-37e20c757d82">354</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifee0d871c0eb4ba5bbde457db43eff4e_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzgtMTItMS0xLTUxMDQ0Mg_95adabe6-d43c-46b0-b6c8-270e0caab389">119</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzgtMTMtMS0xLTUxMDQ0Mg_6142c50b-3e8c-49d3-8e4f-8374fef53baa">473</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" 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scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzktMi0xLTEtNjgxNDYy_b334042d-8b4b-489f-9601-99d9cddc0c53">305</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e049cfadb9e4d57ab74155ec161599f_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:ReductionOfIssuedCapital" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Undated deeply subordinated securities&#160;(Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia9cf994fc3b344e89cf25e4120c8895a_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzktNi0xLTEtNTEwNDQy_e4a2bb72-243f-4179-9d85-72638e2d5b7c">263</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifee0d871c0eb4ba5bbde457db43eff4e_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzktMTEtMS0xLTUxMDQ0Mg_7383ef3a-c0b0-4fc7-a964-b008b432ba0a">263</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzktMTMtMS0xLTUxMDQ0Mg_d3a43cd1-df2d-41bf-94d2-d41e3fe1ae4e">263</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifee0d871c0eb4ba5bbde457db43eff4e_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEwLTExLTEtMS01MTA0NDI_dbcc6c35-b4cb-4a65-b169-c0bcc979314c">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Financial position at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if6414431e85d4abd9b7626c4681e40ba_I20211231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzExLTEtMS0xLTUxMDQ0Mg_477467eb-4858-48fb-8b0b-84462895e6bc">5,779</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i04b0524d113245c4b6562bb92306c01e_I20211231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzExLTItMS0xLTUxMDQ0Mg_6a2f90ca-f30c-445b-9d59-4d80838751a3">4,233</ix:nonFraction></span><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9c8306f950074006b1d59526398014cb_I20211231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzExLTExLTEtMS01MTA0NDI_41ccfff7-7421-47ca-bb9a-64eb3c343c55">22,207</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75fd8ee45d2b4f0ead0e194ba312009f_I20211231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzExLTEyLTEtMS01MTA0NDI_d6776cbf-b319-41b5-8c62-447ecc644046">6,477</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzExLTEzLTEtMS01MTA0NDI_06c15556-609c-4bae-949d-e492a00dab67">28,684</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib39091e3b9844339ad5cec89c192f582_I20191231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTItMS0xLTUxMDQ0Mg_98af54b2-6001-4404-98a6-5d80591a4b08">4,538</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i698983c2a5c142d690b47f3c57291417_I20191231" decimals="-6" sign="-" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTMtMS0xLTUxMDQ0Mg_1af2e721-8a84-4477-b6b2-29ad4b0c3f6a">766</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i556d450058594766b237a86ddb299b59_I20191231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTQtMS0xLTUxMDQ0Mg_f2398178-6c0e-44af-a339-e22a3d0b882f">8,243</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid 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#bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7b6b2ed35104493ab50cd87195287c93_I20191231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTYtMS0xLTUxMDQ0Mg_3fed61e3-62ad-4a6f-9590-81c7b704d1c7">19,042</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7f4bf160545f44708781ccc0883a2881_I20191231" decimals="-6" sign="-" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTctMS0xLTUxMDQ0Mg_b1debecc-ecbf-4575-8307-83ae9b53a382">444</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i22c607a9d47844ba9122de2959638395_I20191231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTgtMS0xLTUxMDQ0Mg_73ac4f7a-fbcf-47e3-bf88-488f473a78b5">503</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib2ccc7bca46b4401a68e60827821e580_I20191231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTktMS0xLTUxMDQ0Mg_6ca444ee-a461-48d4-84aa-7316f14256d0">24</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iff382a37d28b4297ad75f516b2c888f3_I20191231" decimals="-6" sign="-" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTEwLTEtMS01MTA0NDI_b3445ac5-0a9d-4f29-b44d-c35723c1b292">20,252</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7290d736a40f4fafbf155cedfc4ca64d_I20191231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTExLTEtMS01MTA0NDI_1eaa330d-580a-4bb0-a91a-5507974789cf">17,118</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id468e57ccd8a4bd481def8bb0c616bf1_I20191231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTEyLTEtMS01MTA0NDI_168a6cd6-c4ee-4f25-aff8-5552b3175917">8,332</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic205f580c6c44d3eaf10466a789f8d72_I20191231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzEzLTEzLTEtMS01MTA0NDI_3ceca77e-68e8-4b82-a539-2288a52b3692">25,450</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Profit for the year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i788a18873ca04dfe9a03df15c0a9cb60_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE2LTYtMS0xLTUxMDQ0Mg_cb01b3b4-f467-4fa7-b305-2e9b473cd852">1,582</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if62b893c94974820b1e7468426b8a526_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE2LTExLTEtMS01MTA0NDI_aaa13188-b3d9-4352-b36f-354af98a927b">1,582</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i11c206a9987d43128aa8c26637853443_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE2LTEyLTEtMS01MTA0NDI_0a29a725-23df-42ed-9581-77dceb23951c">375</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE2LTEzLTEtMS01MTA0NDI_3f66db1c-23a3-43de-ae3f-69446bcfb321">1,957</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Other comprehensive income (loss) for the year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i788a18873ca04dfe9a03df15c0a9cb60_D20200101-20201231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTYtMS0xLTUxMDQ0Mg_3588a178-67e4-4ea6-8edd-14622109e4a3">23</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i12b609e0e4dc4114a2d001c49a42ee10_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTctMS0xLTUxMDQ0Mg_200f6e01-7530-4518-aa66-9c8f89fe60ee">153</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic4a97d3448654a13891edf8e4a9fe534_D20200101-20201231" decimals="-6" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTgtMS0xLTUxMDQ0Mg_4b106660-c4f6-443e-9742-b3bfa72afb64">144</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i28e2a9b6757f4c3c9e337562917c704e_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTktMS0xLTUxMDQ0Mg_71fb5c7b-8d1c-47ac-bee0-519f0b21ae40">81</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id6cb08dad33a4130853c5f1f86271c84_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTEwLTEtMS01MTA0NDI_89412fac-3736-4ab8-bf93-cf41ee557f9f">5,801</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if62b893c94974820b1e7468426b8a526_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTExLTEtMS01MTA0NDI_ce4f8d2f-8d61-4a4c-a53b-dc9203a67629">5,868</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i11c206a9987d43128aa8c26637853443_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTEyLTEtMS01MTA0NDI_3ae904fc-64e8-4c33-83f3-8278d926e8d5">1,437</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE3LTEzLTEtMS01MTA0NDI_20443ab5-17b7-4043-a72a-cf01f998aa61">7,305</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total comprehensive income (loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i788a18873ca04dfe9a03df15c0a9cb60_D20200101-20201231" decimals="-6" name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTYtMS0xLTUxMDQ0Mg_3b4a5e66-c1b8-40e0-a535-86a5c8158840">1,605</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i12b609e0e4dc4114a2d001c49a42ee10_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTctMS0xLTUxMDQ0Mg_09ac457c-7f54-4226-879e-deaf8491bd1d">153</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic4a97d3448654a13891edf8e4a9fe534_D20200101-20201231" decimals="-6" name="ifrs-full:ComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTgtMS0xLTUxMDQ0Mg_cb030417-592e-4e10-b0c5-ce9816c5c2da">144</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i28e2a9b6757f4c3c9e337562917c704e_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTktMS0xLTUxMDQ0Mg_95ff6398-cec9-41de-ae72-d098e502477b">81</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id6cb08dad33a4130853c5f1f86271c84_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTEwLTEtMS01MTA0NDI_e54c23d3-71c0-49b7-92e1-4285ffa9c612">5,801</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if62b893c94974820b1e7468426b8a526_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTExLTEtMS01MTA0NDI_fe203044-d214-4313-a80e-178576bcf692">4,286</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i11c206a9987d43128aa8c26637853443_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTEyLTEtMS01MTA0NDI_4d65bdfb-1582-4746-b8ae-a3419c6e1a31">1,062</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ComprehensiveIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE4LTEzLTEtMS01MTA0NDI_e955eb91-016c-483c-8264-121742a3fe50">5,348</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Dividends and distribution of profit (Note 17)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifb4eafdff619467ca3bf50de366814d3_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:DividendsPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE5LTEtMS0xLTUxMDQ0Mg_bd6d8a6a-e522-41f1-a677-c9c7d3cde9fb">334</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i788a18873ca04dfe9a03df15c0a9cb60_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE5LTYtMS0xLTUxMDQ0Mg_5f80948c-2ab7-4371-b2a3-15fb230f6e51">1,048</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if62b893c94974820b1e7468426b8a526_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE5LTExLTEtMS01MTA0NDI_fdd171f5-7e8f-4cec-9151-cbd8c1fd45a4">714</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i11c206a9987d43128aa8c26637853443_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE5LTEyLTEtMS01MTA0NDI_e06815cb-925f-4fd4-8348-036d4ba7a10f">516</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzE5LTEzLTEtMS01MTA0NDI_c068d548-a45c-4a5d-a95d-130dcf0faff1">1,230</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Net 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contextRef="i4a239a56adbc4c9b878605dd8c3f38ec_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIwLTMtMS0xLTUxMDQ0Mg_fb2e6499-9907-4b16-8ec1-a616a3580fc2">195</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i788a18873ca04dfe9a03df15c0a9cb60_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIwLTYtMS0xLTUxMDQ0Mg_311c6eb4-9669-42dc-a061-c6b54efbd3a7">29</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid 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style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIwLTEzLTEtMS01MTA0NDI_50dc6a33-e571-4d1d-94e7-ebae210cbd68">224</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Acquisitions and disposals of non-controlling interests and business combinations </span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4a239a56adbc4c9b878605dd8c3f38ec_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIxLTMtMS0xLTUxMDQ0Mg_a886f33b-27fd-41ad-9991-bb68dddfb2ec">485</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i788a18873ca04dfe9a03df15c0a9cb60_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIxLTYtMS0xLTUxMDQ0Mg_7f9d40b2-cf36-4d38-b14b-786836b6a8e5">223</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid 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style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i11c206a9987d43128aa8c26637853443_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIxLTEyLTEtMS01MTA0NDI_88ac7066-a29a-474d-8683-a75c3cee747e">318</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIzLTEyLTEtMS01MTA0NDI_0738d873-f296-44f7-b004-7973fbd24e42">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzIzLTEzLTEtMS01MTA0NDI_24c0059f-7c73-4ae6-8f2c-18db6aad8fcc">29</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Financial position at December 31, 2020</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaee1296581b349468577d5300de4e7d9_I20201231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTEtMS0xLTUxMDQ0Mg_7f8b69e4-e134-4099-a738-26f1f6d9e952">5,526</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid 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style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i382217c099844ad89e11b9c1dcfd871f_I20201231" decimals="-6" sign="-" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTMtMS0xLTUxMDQ0Mg_07b6b0af-21ea-4d3f-9218-23231acf2539">476</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0624230f53ac4332b8964d51981594d7_I20201231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTQtMS0xLTUxMDQ0Mg_6abc93f3-af89-402a-b81b-96b27293512d">7,550</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1b11a6608c5c47ee98140abf3ca19f62_I20201231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTYtMS0xLTUxMDQ0Mg_456567dd-486c-4012-a5d0-1263206f904b">19,046</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iff29ef4d1f7a410d88be768fa9c69a3d_I20201231" decimals="-6" sign="-" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTctMS0xLTUxMDQ0Mg_853c7c9e-865d-4d27-bb9c-12152fe3ac02">597</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5c564c1d139343cb98dce08f9fb49953_I20201231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTgtMS0xLTUxMDQ0Mg_4e950ab7-3f76-4111-9a12-7975f2ca2811">647</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid 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colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i61600058840a4b4cb8bc57d90c0e5386_I20201231" decimals="-6" sign="-" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTEwLTEtMS01MTA0NDI_04368fc8-b7c4-4155-aa71-ece59f3cb8bd">25,980</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i69227c42983b4d949b0687e49632438f_I20201231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTEyLTEtMS01MTA0NDI_c9440112-4624-4deb-a402-6cd72392054b">7,025</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNjgvZnJhZzo2ZjcwOTM4ZDYwOTY0YTEzYjA2NDYxZGFmM2Q4MzkxNy90YWJsZTo0MjFjYTY0OWQ4MTI0NDlmYjdhMDk1ZWJhZWVhNWExMS90YWJsZXJhbmdlOjQyMWNhNjQ5ZDgxMjQ0OWZiN2EwOTVlYmFlZWE1YTExXzI0LTEzLTEtMS01MTA0NDI_b0918059-cbf2-4f47-847b-ceb0fa3afa54">18,260</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The accompanying notes and appendices are an integral part of these consolidated statements of changes in equity.</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-10</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_271"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:58.197%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.709%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.831%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.052%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.711%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consolidated Statements of cash flows</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash received from operations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ReceiptsFromOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzItMi0xLTEtNTEwNDQy_77f8730a-871f-4141-a109-03514c954df5">46,925</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ReceiptsFromOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzItMy0xLTEtNTEwNDQy_a40403b7-921c-4716-9fa5-94d88f988a1b">46,415</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:ReceiptsFromOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzItNC0xLTEtNTEwNDQy_e4da178f-20f6-4996-8c0d-7cd58b88081a">51,353</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash paid from operations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsForOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMtMi0xLTEtNTEwNDQy_d177b720-35e6-43dd-9c3a-1fd5196dc8ee">34,778</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsForOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMtMy0xLTEtNTEwNDQy_4bc4693e-6b11-4f7a-a561-2e878d5ada81">34,379</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsForOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMtNC0xLTEtNTEwNDQy_260bef9f-84a6-4b4c-b4f2-6ec751bb1b39">36,477</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net payments of interest and other financial expenses net of dividends received</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzQtMi0xLTEtNTEwNDQy_f0d12420-233c-4df9-8023-20f70f20d338">292</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzQtMy0xLTEtNTEwNDQy_8f621c1e-2d52-406d-b317-afa331ee3da8">1,309</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzQtNC0xLTEtNTEwNDQy_340c4405-d861-4770-ae89-471dc8688ec4">1,171</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Taxes (paid)/proceeds</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzUtMi0xLTEtNTEwNDQy_3489be98-eac3-4acc-b66a-d782f8df76f9">92</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzUtMy0xLTEtNTEwNDQy_9ef8d994-dcf9-4da3-9e13-60f4bafa137f">459</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzUtNC0xLTEtNTEwNDQy_c17c22e6-9e0f-4e92-a51d-23c44cc56876">509</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzYtMi0xLTEtNTEwNDQy_8afad756-6ee9-4f09-a703-f3389754e977">11,763</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzYtMy0xLTEtNTEwNDQy_72ce43bc-560a-4b06-9f89-fba91567de57">10,268</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzYtNC0xLTEtNTEwNDQy_bc671104-c2bc-4634-a6e6-6624c45d46a5">13,196</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzctMi0xLTEtNTEwNDQy_86cf22a3-ca00-401c-98a0-c9a2a172975c">5,508</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzctMy0xLTEtNTEwNDQy_67fa9b7f-ac12-4bae-bd58-36d766bedfe1">6,164</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzctNC0xLTEtNTEwNDQy_07c1c0f3-3b44-4395-bf90-b0bd7c9b49eb">7,020</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzgtMi0xLTEtNTEwNDQy_16782229-75bf-48bd-99ad-5eafc422a326">115</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzgtMy0xLTEtNTEwNDQy_7ac480b1-01f4-4650-acc7-2e01e0fa3932">13,369</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzgtNC0xLTEtNTEwNDQy_5d33d1bc-8026-4266-8d82-5bb635f18038">81</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments on investments in companies, net of cash and cash equivalents acquired</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzktMi0xLTEtNTEwNDQy_7f54ba04-cbd7-4c17-88d1-af1d1fa5ce95">1,628</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzktMy0xLTEtNTEwNDQy_d5dbd3a8-8387-45fe-9bb3-903e4570f429">414</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzktNC0xLTEtNTEwNDQy_f21045d2-e2bb-478d-a97d-a1510b592275">79</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds on financial investments not included under cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzEwLTItMS0xLTUxMDQ0Mg_2d598f1a-c52c-483f-91f0-af77c01d1f75">2,967</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzEwLTMtMS0xLTUxMDQ0Mg_ffed2db5-7abd-41fb-baad-499333aec192">2,163</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzEwLTQtMS0xLTUxMDQ0Mg_201842c9-28c4-459b-ab10-211b287615eb">2,308</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payments on financial investments not included under cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzExLTItMS0xLTUxMDQ0Mg_a9ed5839-c1c9-4fea-823f-80c03c4d6bb2">2,575</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzExLTMtMS0xLTUxMDQ0Mg_8ad128b4-f3fa-44e2-b0ce-8890dac08c56">1,474</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzExLTQtMS0xLTUxMDQ0Mg_93da3fc0-8c6b-4374-9128-86fefc7042db">3,297</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net proceeds/(payments) for temporary financial investments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ProceedsFromPaymentsForTemporaryFinancialInstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzEyLTItMS0xLTUxMDQ0Mg_5e2e649c-6682-4669-ae1a-8f3216aa97e6">1,532</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTemporaryFinancialInstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzEyLTMtMS0xLTUxMDQ0Mg_38725053-3aad-4f83-af29-ba0958521f50">1,584</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:ProceedsFromPaymentsForTemporaryFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzEyLTQtMS0xLTUxMDQ0Mg_fdc61ecb-73a8-458d-b2f0-841f437e2771">217</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash flow used in investing activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE0LTItMS0xLTUxMDQ0Mg_6cd5fd52-65a8-4f3f-be76-8aef5456d002">5,327</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE0LTMtMS0xLTUxMDQ0Mg_04ac05ba-6bd8-4a14-bf98-8c8628489200">5,896</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE0LTQtMS0xLTUxMDQ0Mg_021d81c2-56b6-4278-bceb-1d2d7e56578b">7,790</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE1LTItMS0xLTUxMDQ0Mg_d09d9f00-87ee-4323-9bda-4edef8ecd7b2">1,397</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE1LTMtMS0xLTUxMDQ0Mg_87eb4901-8952-45da-a3e1-cff37ffc9ab1">3,630</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE1LTQtMS0xLTUxMDQ0Mg_0f784f47-c061-4d72-9d98-cd5c1fe9e72e">1,296</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds from share capital increase with minority interest</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE2LTItMS0xLTUxMDQ0Mg_ad5e0724-7dbb-447d-9a69-a61a1cbb3c21">1,022</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE2LTMtMS0xLTUxMDQ0Mg_0c63b2da-5ae1-4af2-b83f-d808f487d539">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE2LTQtMS0xLTUxMDQ0Mg_dfbb7487-d6f8-4662-b6ea-e20c55cd5b57">323</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE3LTItMS0xLTUxMDQ0Mg_b64259e1-6ad9-4a23-a5e0-6643088ccccd">555</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE3LTMtMS0xLTUxMDQ0Mg_84c8d9cb-355f-4e08-a4a0-2fd03d796717">604</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE3LTQtMS0xLTUxMDQ0Mg_bb6efdf6-7776-4165-ab10-9320cc7de425">223</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operations with other equity holders</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:CashFlowsFromOperationsWithOtherEquityHolders" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE4LTItMS0xLTUxMDQ0Mg_1e1e1f12-29f9-4ec9-8a3b-91b89c7d3e1d">268</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:CashFlowsFromOperationsWithOtherEquityHolders" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE4LTMtMS0xLTUxMDQ0Mg_684c7d5d-9951-41a8-b21f-ac6e43b6c03c">354</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:CashFlowsFromOperationsWithOtherEquityHolders" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE4LTQtMS0xLTUxMDQ0Mg_10e6397d-9674-48de-987b-3cdb291639b4">1,020</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds on issue of debentures and bonds and other debts</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE5LTItMS0xLTUxMDQ0Mg_9697057f-6b28-4356-b5c9-2d35d24d5a55">1,746</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE5LTMtMS0xLTUxMDQ0Mg_28c11b17-ec6f-4327-94e5-51569ebfb5e4">561</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzE5LTQtMS0xLTUxMDQ0Mg_1a78b4b5-6a00-45cb-b3c5-e6bce44408b0">4,011</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proceeds on loans, borrowings and promissory notes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIwLTItMS0xLTUxMDQ0Mg_4b0f8cda-0b82-4e0c-bb34-0ee83548ae6a">839</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIwLTMtMS0xLTUxMDQ0Mg_01fabf0c-3802-402d-aaa2-ab4e372e5bd1">3,085</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIwLTQtMS0xLTUxMDQ0Mg_ef26feec-4357-40d4-9eee-2225bc75c9cf">4,516</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of debentures and bonds and other debts</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIxLTItMS0xLTUxMDQ0Mg_5031ae5e-a3af-4c89-b213-937a3191339f">3,541</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIxLTMtMS0xLTUxMDQ0Mg_34eb25fb-23a9-4c56-81ba-fb49a1df2077">5,847</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIxLTQtMS0xLTUxMDQ0Mg_753ed6dd-9672-4f1b-9e2c-086a20c351fd">6,728</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repayments of loans, borrowings and promissory notes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIyLTItMS0xLTUxMDQ0Mg_9fd4850a-7008-470e-9ac9-dcf58aad0a92">3,077</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIyLTMtMS0xLTUxMDQ0Mg_6247b930-00f2-47f5-ae0b-12f774d00104">4,146</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIyLTQtMS0xLTUxMDQ0Mg_2770a9f8-8bad-4453-98d0-e2cd64cfd869">2,852</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease principal payments </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 20)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:CashOutflowForLeases" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIzLTItMS0xLTUxMDQ0Mg_ba5558a2-4b12-40e5-bef6-116e9787e894">1,996</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashOutflowForLeases" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIzLTMtMS0xLTUxMDQ0Mg_9f8fae63-682c-404a-b691-bc93fa5116ee">1,782</ix:nonFraction>)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:CashOutflowForLeases" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzIzLTQtMS0xLTUxMDQ0Mg_e6cdbb18-d320-42d4-8bc6-a19d93a8141b">1,787</ix:nonFraction>)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financed operating payments and investments in property, plant and equipment and intangible assets payments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI0LTItMS0xLTUxMDQ0Mg_c8700ce1-b32e-4726-9eb5-7030d6c66dd8">698</ix:nonFraction>)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI0LTMtMS0xLTUxMDQ0Mg_47d030eb-0812-4b7a-b676-ee9b3c4085da">273</ix:nonFraction>)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI0LTQtMS0xLTUxMDQ0Mg_3a1a5686-7897-4622-b443-42065ae44c14">382</ix:nonFraction>)</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash used in financing activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI1LTItMS0xLTUxMDQ0Mg_f6971b71-cedb-4a1c-ba8c-e5d874b177f6">7,925</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI1LTMtMS0xLTUxMDQ0Mg_eb2aa088-1aa7-4d14-bc61-02f23a3761a3">12,990</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI1LTQtMS0xLTUxMDQ0Mg_e3d6a2d7-b90a-429c-b31c-d0da77f60dc3">5,438</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effect of changes in exchange rates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI2LTItMS0xLTUxMDQ0Mg_38dcd6fb-6a8d-4698-a660-db84a8ea6f27">156</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI2LTMtMS0xLTUxMDQ0Mg_2c08f943-3cdb-46da-b33d-5aad068ca217">179</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI2LTQtMS0xLTUxMDQ0Mg_1a1eddd7-d9bc-4dc4-8d86-886ce567e31c">402</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash reclassified to assets held for sale</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 30)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:CashReclassifiedtoAssetsHeldforSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI3LTItMS0xLTUxMDQ0Mg_2047e07a-c1b6-446b-91f1-71003d94c28b">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:CashReclassifiedtoAssetsHeldforSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI3LTMtMS0xLTUxMDQ0Mg_b321cbd7-fc95-4d71-b559-d6593c1f12b9">7</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:CashReclassifiedtoAssetsHeldforSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI3LTQtMS0xLTUxMDQ0Mg_1b3d3160-d54e-438e-84d2-f5cbc0dfa474">4</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Effect of changes in consolidation methods and others</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI4LTItMS0xLTUxMDQ0Mg_36e50a12-2561-4072-9079-0cce7d75b0fc">2</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI4LTMtMS0xLTUxMDQ0Mg_487d0e35-13c6-49e6-80f5-61e5881c0034">12</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI4LTQtMS0xLTUxMDQ0Mg_b7eb2c72-a567-440a-b251-e0e7678ab86c">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net increase (decrease) in cash and cash equivalents during the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI5LTItMS0xLTUxMDQ0Mg_bc9ce204-593d-469e-93f4-7489e47c6a81">1,335</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI5LTMtMS0xLTUxMDQ0Mg_3cef311f-9c02-4ef2-9989-995dc88be96e">2,976</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzI5LTQtMS0xLTUxMDQ0Mg_bc38ae69-0344-45fc-9e36-942ff77860ef">438</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 16)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMwLTItMS0xLTUxMDQ0Mg_c72fe88a-8f30-4063-a288-83a8b48d0b1e">8,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMwLTMtMS0xLTUxMDQ0Mg_0045a20f-b421-4c27-b24f-aa65384288fc">5,604</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic205f580c6c44d3eaf10466a789f8d72_I20191231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMwLTQtMS0xLTUxMDQ0Mg_f328577a-53d3-4816-8131-aa0ba21e3867">6,042</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 16)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMxLTItMS0xLTUxMDQ0Mg_44897eed-339c-4161-bef1-0cf931bb3dec">7,245</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMxLTMtMS0xLTUxMDQ0Mg_28258241-80b9-4fef-b0f1-d8edcfb733e3">8,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMxLTQtMS0xLTUxMDQ0Mg_164a1d41-78c1-487d-84e2-63179567f637">5,604</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">RECONCILIATION OF CASH AND CASH EQUIVALENTS WITH THE STATEMENTS OF FINANCIAL POSITION</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">BALANCE AT THE BEGINNING OF THE PERIOD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Note 16)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMzLTItMS0xLTUxMDQ0Mg_68a791ac-e40c-42a9-aa8e-fc4bd8cae0e6">8,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMzLTMtMS0xLTUxMDQ0Mg_d2430016-8380-4935-b2d1-cd31e337afdc">5,604</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic205f580c6c44d3eaf10466a789f8d72_I20191231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzMzLTQtMS0xLTUxMDQ0Mg_d1e91053-a533-42a7-a991-b582ba098c92">6,042</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash on hand and at banks</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Cash" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzM0LTItMS0xLTUxMDQ0Mg_32799d24-1bab-4831-9cda-0ada7807807c">7,353</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:Cash" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzM0LTMtMS0xLTUxMDQ0Mg_796515d5-5284-466c-be6f-5f9501aab39e">4,600</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic205f580c6c44d3eaf10466a789f8d72_I20191231" decimals="-6" name="ifrs-full:Cash" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzM0LTQtMS0xLTUxMDQ0Mg_bc33e85b-6462-46b3-aaad-1ad09757c215">5,209</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other cash equivalents</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzM1LTItMS0xLTUxMDQ0Mg_8591b2bd-7a47-4835-a726-09bbb5441c09">1,227</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:CashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzM1LTMtMS0xLTUxMDQ0Mg_8b05c2c5-250d-4711-b7e8-ccb4178028e2">1,004</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic205f580c6c44d3eaf10466a789f8d72_I20191231" decimals="-6" name="ifrs-full:CashEquivalents" scale="6" 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style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash on hand and at banks</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Cash" format="ixt:num-dot-decimal" scale="6" 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzM4LTMtMS0xLTUxMDQ0Mg_a80c50d2-51c9-4a93-8b17-169717f10ba3">1,227</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:CashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzEvZnJhZzpiZDc5ZDU1M2NlYjg0MDZhYTM2MjkwM2Y1MDE0OTAzNC90YWJsZTplZjg5N2Q5YzQ3OWM0OTI0OTUwNWJlZTgwMjkzYTNmNS90YWJsZXJhbmdlOmVmODk3ZDljNDc5YzQ5MjQ5NTA1YmVlODAyOTNhM2Y1XzM4LTQtMS0xLTUxMDQ0Mg_c698abfa-e452-4886-91b3-aaf1c30461f1">1,004</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The accompanying notes and appendices are an integral part of these consolidated statements of cash flows.</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-11</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_274"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:20pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. and subsidiaries composing the Telef&#243;nica Group</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:120%">Notes to the consolidated financial statements for the year ended December 31, 2022</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div id="i2ad619f032b2435680b3f6486d100018_277"></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 1. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzcvZnJhZzpiYzlmZjBmZjMxNGU0ZTJiYjYxZWExZGUyOTU5M2NjMy90ZXh0cmVnaW9uOmJjOWZmMGZmMzE0ZTRlMmJiNjFlYTFkZTI5NTkzY2MzXzE2NzU_1cee5bcb-3ab9-4f4e-bb3a-1fdcac374efe" continuedAt="i89974288072b4f699a9f0ca6a851498c" escape="true">Background and general information</ix:nonNumeric></span></div><ix:continuation id="i89974288072b4f699a9f0ca6a851498c"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. and its subsidiaries and investees (hereinafter also referred to as Telef&#243;nica, the Company, the Telef&#243;nica Group or the Group) make up an integrated and diversified telecommunications group operating mainly in Europe and Latin America. The Group&#8217;s activity is centered around services of fixed and wireless telephony, broadband, Internet, data traffic, Pay TV and other digital services. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The parent company of the Group is Telef&#243;nica, S.A., a public limited company incorporated on April 19, 1924 for an indefinite period. Its registered office is at calle Gran V&#237;a 28, Madrid (Spain). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Appendix I lists the main companies composing the Telef&#243;nica Group, their corporate purpose, country, functional currency, share capital, the Group&#8217;s effective shareholding and their method of consolidation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group are detailed in Appendix VI. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements for the year ended December&#160;31, 2022 were approved by the Company&#8217;s Board of Directors at its meeting on February 22, 2023 for submission for approval at the General Shareholders&#8217; Meeting, which is expected to occur without modification.</span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-12</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_280"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 2. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzExOTU5_76b9d990-e421-43cc-b606-0bb0ad169427" continuedAt="ic178ab0dc9b14e73bd4bd66241c49a93" escape="true">Basis of presentation of the consolidated financial statements</ix:nonNumeric></span></div><ix:continuation id="ic178ab0dc9b14e73bd4bd66241c49a93" continuedAt="ic1c75617539d4042aee364538a0480ec"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements were prepared from the accounting records of Telef&#243;nica, S.A. and each of the companies comprising the Telef&#243;nica 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 present fairly, in all material respects, the consolidated equity and financial position at December&#160;31, 2022, and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The euro is the Group&#8217;s reporting currency.&#160;The figures in these consolidated financial statements are expressed in million euros, unless indicated otherwise, and may therefore be rounded. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Materiality criteria </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group&#8217;s consolidated financial statements, taken as a whole, are concerned.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparative information and main changes in the consolidation 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="i254a58d9486845388a9f20d64f562304_D20220101-20221231" decimals="3" sign="-" name="tef:AnnualVarianceOfAverageExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTplNDExOGFlNjllZGE0NzlkYmY0NmYxZjU3ODRjZjcxMy90YWJsZXJhbmdlOmU0MTE4YWU2OWVkYTQ3OWRiZjQ2ZjFmNTc4NGNmNzEzXzctMS0xLTEtNTEwNDQy_88b780da-805a-42eb-985d-2f2e12378703">0.6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="i00927fe67d7c44de8ac91d80a5fa5cf5_D20210101-20211231" decimals="3" sign="-" name="tef:AnnualVarianceOfAverageExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTplNDExOGFlNjllZGE0NzlkYmY0NmYxZjU3ODRjZjcxMy90YWJsZXJhbmdlOmU0MTE4YWU2OWVkYTQ3OWRiZjQ2ZjFmNTc4NGNmNzEzXzctMi0xLTEtNTEwNDQy_0e0a079c-7b23-4fc4-8845-f51454c72f9f">5.1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iee4f17656e95486295564c4a2eab1482_D20220101-20221231" decimals="3" name="tef:AnnualVarianceOfAverageExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTplNDExOGFlNjllZGE0NzlkYmY0NmYxZjU3ODRjZjcxMy90YWJsZXJhbmdlOmU0MTE4YWU2OWVkYTQ3OWRiZjQ2ZjFmNTc4NGNmNzEzXzgtMS0xLTEtNTEwNDQy_dc68d94d-6302-4f8f-a13a-2b9153afa5d5">13.5</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib13414948e52402c90287d2ebc58157b_D20210101-20211231" decimals="3" name="tef:AnnualVarianceOfAverageExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTplNDExOGFlNjllZGE0NzlkYmY0NmYxZjU3ODRjZjcxMy90YWJsZXJhbmdlOmU0MTE4YWU2OWVkYTQ3OWRiZjQ2ZjFmNTc4NGNmNzEzXzgtMi0xLTEtNTEwNDQy_eea9431f-1119-4ba5-9db2-60b56a1a3ce5">1.6</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></ix:nonNumeric></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-13</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ic1c75617539d4042aee364538a0480ec" continuedAt="i3a125cd36bf54a5d8a3e49f1e8b1aa20"><div><ix:continuation id="i22f4c585a28645e782972e3f4fcc6ee8"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variation of closing exchange rate vs euro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 vs 2021</span></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 vs 2020</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7c5e080171f6429f9712766bde0ea1d4_D20220101-20221231" decimals="3" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzItMS0xLTEtNTEwNDQy_26154f80-e3c1-48e8-a053-6f4a058dce93">13.5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i1a0ad739c8e444abb2a9e6c57081c459_D20210101-20211231" decimals="3" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzItMi0xLTEtNTEwNDQy_091114b4-eb13-48e2-86cd-9a09a9ecc592">0.9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="ie86f34048c4d4418a03bdb8da7e7c161_D20220101-20221231" decimals="3" sign="-" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzMtMS0xLTEtNTEwNDQy_0ce8a2c0-3f50-4c9c-9633-97944955d762">5.3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i148f7df458684c96a9643d1259254a3e_D20210101-20211231" decimals="3" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" 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#b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="i62e9006bb8fd49d78c33f05d92f85646_D20210101-20211231" decimals="3" sign="-" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzQtMi0xLTEtNTEwNDQy_875cac16-c85b-48a0-a839-3c9433734f6d">1.6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chilean peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i42e5721fd7e745509c19d69f778f8aa5_D20220101-20221231" decimals="3" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzYtMS0xLTEtNTEwNDQy_f045d04c-fb7f-47fe-b94e-3ff6281ae054">4.7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="ifa3ecd0c44e94608b5ff114f95a12bab_D20210101-20211231" decimals="3" sign="-" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzYtMi0xLTEtNTEwNDQy_9af7e370-04f0-462a-98ec-45416e0129db">8.8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="i254a58d9486845388a9f20d64f562304_D20220101-20221231" decimals="3" sign="-" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzctMS0xLTEtNTEwNDQy_d568dcbf-e972-4ae4-87a2-2703bc2f084c">12.2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="i00927fe67d7c44de8ac91d80a5fa5cf5_D20210101-20211231" decimals="3" sign="-" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzctMi0xLTEtNTEwNDQy_1c440a40-8b8a-4bae-823e-1801cadfd046">6.6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iee4f17656e95486295564c4a2eab1482_D20220101-20221231" decimals="3" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzgtMS0xLTEtNTEwNDQy_3f6502d3-6275-4382-a1aa-d4e51420154f">11.5</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib13414948e52402c90287d2ebc58157b_D20210101-20211231" decimals="3" name="tef:AnnualVarianceInClosingExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzgtMi0xLTEtNTEwNDQy_192f0fea-6679-4b8a-ab68-32a1bda2300d">5.4</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, there was a positive impact on Equity attributable to equity holders of the Parent Company for translation differences amounting to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NDAxNjI_143c195e-19c1-47a1-badf-bd00faa5c005">1,169</ix:nonFraction> million euros (see Note 17.f), mainly due to the appreciation of the Brazilian real.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement between Telef&#243;nica and Liberty Global plc to combine their operating businesses in the UK</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2020, Telef&#243;nica reached an agreement with Liberty Global plc to combine into a <ix:nonFraction unitRef="number" contextRef="iab28d64ba27441e6a6fcda3dc3dfff95_D20200507-20200507" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzI3Njc_d2cdb177-6533-4588-92cc-013c3f1482a7">50</ix:nonFraction>-50 joint venture their operating businesses in the United Kingdom (O2 Holdings Ltd. and Virgin Media UK, respectively). On June 1, 2021 after obtaining the relevant regulatory approvals, consummation of the necessary recapitalization and satisfaction of other closing conditions, the closing of the transaction was carried out, resulting in the combination of both businesses into the joint venture called VMED O2 UK Limited ("VMO2"). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telefonica United Kingdom, which was fully consolidated within the Group, is excluded from the scope of consolidation from June 1, 2021 (Note 4). From that date, VMO2 is registered under the equity method (see notes 4 and 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The constitution of the joint venture resulted in a contribution of <ix:nonFraction unitRef="gbp" contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601" decimals="-6" name="ifrs-full:ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQxNzQ_66cdec2c-bb19-4d15-8803-afb2ab3d5319">5,376</ix:nonFraction> million pounds sterling (equivalent to <ix:nonFraction unitRef="eur" contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601" decimals="-6" name="ifrs-full:ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQyMTY_b97ef1ed-ca2a-476c-a8f8-a02652472c66">6,234</ix:nonFraction> million euros at  the transaction day) for Telefonica, of which <ix:nonFraction unitRef="gbp" contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601" decimals="-6" name="tef:ProceedsFromEqualizationPaymentOfDisposalOfNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQyODQ_2fbd4b65-8b90-4c4a-bb43-826e7d9648f2">2,622</ix:nonFraction> million pounds correspond to the cash payment to Telef&#243;nica to equalise ownership in the joint venture (including the post-completion adjustment, see Note 29.c) and <ix:nonFraction unitRef="gbp" contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601" decimals="-6" name="tef:ProceedsFromRecapitalizationOfJointVenture" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQ0NTI_8a8a15ad-488a-4bcf-bb1a-9376fb8a3b58">2,754</ix:nonFraction> million pounds correspond to proceeds from recapitalization.</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzExOTg3_40d3c2ac-4ba8-49e7-83cf-6831bf8ca091" continuedAt="i1d979ab69ced4c5aae3e8a12f8f9d655" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a consequence of this transaction, the Group   recognized a gain amounting to <ix:nonFraction unitRef="eur" contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601" decimals="-6" name="ifrs-full:GainsOnDisposalsOfInvestments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQ1OTc_5407cf21-0cc2-41f1-b6a9-6bbdf3188062">4,460</ix:nonFraction> million euros in &#8220;Other income&#8221; in 2021 (see Note 26), as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash received</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601" decimals="-6" name="ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzEtMS0xLTEtNTEwNDQy_150673c7-5756-4f1a-9bac-e8b14108a116">6,234</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value of <ix:nonFraction unitRef="number" contextRef="ic93c68cb732b4e59a31bcb2dca7f2c7b_D20210601-20210601" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzItMC0xLTEtNTEwNDQyL3RleHRyZWdpb246Yzc4Yjk1MzkyOGQ5NDI3N2I0OThkMGE4N2U1YzRjYTZfMTg_a8c0eb58-e707-436d-afc8-5f2455a8b218">50</ix:nonFraction>% of VMO2 (Note 10)</span></div></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3a7c6f4da16140ada728df2297c2cbcb_I20210601" decimals="-6" name="tef:FairValueOfInvestmentsInJointVentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzItMS0xLTEtNTEwNDQy_7ba40b94-7bfe-461c-ad0d-a73d97bf8eb7">12,012</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less: carrying amount of Telefonica United Kingdom at June 1, 2021</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3a7c6f4da16140ada728df2297c2cbcb_I20210601" decimals="-6" name="tef:DisposalGroupsClassifiedAsHeldForSaleCarryingAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzMtMS0xLTEtNTEwNDQy_8a7e26e6-e14c-4f27-ba5a-f21b4896aa01">10,937</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Liabilities assumed and other costs (see Note 29.c)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3a7c6f4da16140ada728df2297c2cbcb_I20210601" decimals="-6" sign="-" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzQtMS0xLTEtNTEwNDQy_fa4d8f54-ceef-4ced-96c1-8ecdcdb42be4">441</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result before reclassification of translation differences and gains on hedges</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601" decimals="-6" name="tef:GainsOnDisposalsOfInvestmentsBeforeReclassificationOfTranslationDifferencesAndGainsOnHedges" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzUtMS0xLTEtNTEwNDQy_8926239e-f754-4251-be9c-5ba183f81cdc">6,868</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of translation differences included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601" decimals="-6" sign="-" name="tef:DisposalsOfInvestmentsReclassificationOfTranslationDifferences" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzYtMS0xLTEtNTEwNDQy_deb644db-452b-4642-b266-9646ba8b3749">3,135</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of gains on hedges included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601" decimals="-6" name="tef:DisposalsOfInvestmentsReclassificationOfGainsOnHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzctMS0xLTEtNTEwNDQy_9df99ff8-c636-48e7-8853-429451e7c93e">727</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601" decimals="-6" name="ifrs-full:GainsOnDisposalsOfInvestments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo1OTc1OGM4MTNhZjI0YmU2YjAxMzI5NTI0YmU3NmQ4OC90YWJsZXJhbmdlOjU5NzU4YzgxM2FmMjRiZTZiMDEzMjk1MjRiZTc2ZDg4XzgtMS0xLTEtNTEwNDQy_5407cf21-0cc2-41f1-b6a9-6bbdf3188062">4,460</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the accumulated actuarial losses of Telefonica United Kingdom amounting to <ix:nonFraction unitRef="eur" contextRef="ida8fe7e59c09456f843a5ecac3ff7471_D20210601-20210601" decimals="-6" name="tef:Reclassificationadjustmentsonremeasurementsofdefinedbenefitplansbeforetax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQ3NDg_529a879b-913b-4eca-83a4-73dd9856be11">392</ix:nonFraction> million euros were reclassified to retained earnings, with no effect in net equity. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement between Telxius Telecom and American Tower Corporation for the sale of its telecommunications towers divisions in Europe and Latin America</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 13, 2021 Telxius Telecom, S.A. (a company of the Telef&#243;nica 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).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-14</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i3a125cd36bf54a5d8a3e49f1e8b1aa20" continuedAt="i02942daeb3ec44109c23ce5d661c024a"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreement established the sale of a number of approximately <ix:nonFraction unitRef="site" contextRef="ibf2808089a3442b08f8c62a625faafbd_D20210113-20210113" decimals="INF" name="tef:NumberOfTelecommunicationTowerSitesSold" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzU2MzE_3ac4c5eb-f224-4fad-a4b3-2a12bbaacdc0">30,722</ix:nonFraction> telecommunication tower sites and comprises <ix:nonFraction unitRef="transaction" contextRef="ibf2808089a3442b08f8c62a625faafbd_D20210113-20210113" decimals="INF" name="tef:NumberOfSeparateAndIndependentTransactionsTelecommunicationTowersSitesSelling" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzU2Nzg_78d6ad21-d227-4054-9e9d-adb5849c3080">two</ix:nonFraction> separate and independent transactions (on one hand, the Europe business and, on the other hand, the Latin American business), fixing the respective closures after the corresponding regulatory authorizations. The agreement included the transfer to ATC of the towers that Telxius agreed to acquire from Telef&#243;nica Germany GmbH &amp; Co. under the agreement signed on June 8, 2020, both the towers acquired in the first phase on September 1, 2020 as well as the towers that were acquired in the second phase in August 2021.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 1, 2021, once the relevant regulatory approvals had been obtained in Spain and Germany, the closing of the sale of the telecommunication towers division located in Europe was carried out, for a total selling price of <ix:nonFraction unitRef="eur" contextRef="i2906e1baacb54c09910f5a926909435b_D20210601-20210601" decimals="-6" name="ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzY3NDY_33f86105-f4b8-4375-b72a-685d5bacf7f5">6,346</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 3, 2021, the closing of the sale of the telecommunication towers division located in Latin America was carried out, for a selling price of <ix:nonFraction unitRef="eur" contextRef="i138c640351454c058739ad6dcb67b377_D20210603-20210603" decimals="-6" name="ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzY5MTE_273fb6d4-c835-4946-aa61-5fbd33e9dfb8">887</ix:nonFraction> million euros. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 2, 2021, the closing of the sale to ATC of <ix:nonFraction unitRef="site" contextRef="i92da9ca69e544ff0a02cfdddd81167a5_D20210802-20210802" decimals="INF" name="tef:NumberOfTelecommunicationTowerSitesSold" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzY5NzE_8c0c2bde-669f-47ad-9529-98a4b150f08c">4,080</ix:nonFraction> sites that Telxius undertook to acquire from Telef&#243;nica Germany GmbH &amp; Co. OHG, under the second phase of the agreement reached between both parties on June 8, 2020 was carried out, which stated a total purchase price of <ix:nonFraction unitRef="eur" contextRef="i60685b232e8e413e9cda757b086d4189_D20200608-20200608" decimals="-6" name="ifrs-full:ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzcxODU_86ad44ff-f4da-4493-8797-64fee7bbd849">632</ix:nonFraction> million euros. With the closing of this transaction, together with the sales of the telecommunications towers divisions in Europe and Latin America carried out in June, the sale process agreed between Telxius and ATC was finalized.</span></div><ix:continuation id="i1d979ab69ced4c5aae3e8a12f8f9d655"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These transactions generated in 2021 a gain of <ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="ifrs-full:GainsOnDisposalsOfInvestments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzc0NjQ_e278130d-c0d2-447e-bf27-141a2111a448">6,099</ix:nonFraction> million euros registered in "Other income" (see Note 26), with the following breakdown:  </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:73.607%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.193%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Selling price</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="tef:DisposalOfInvestmentsSellingPrice" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzEtMS0xLTEtNTEwNDQy_05efb71e-571a-4cd5-811d-547b37d74189">7,865</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less: carrying amount of net assets and transaction costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="tef:DisposalOfInvestmentsCarryingAmountOfNetAssetsAndTransactionCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzMtMS0xLTEtNTEwNDQy_89292edc-2c46-4e16-a4b3-e3b2e1cc4999">1,729</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result before reclassification of translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="tef:GainsOnDisposalsOfInvestmentsExcludingTranslationDifferences" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzQtMS0xLTEtNTEwNDQy_ef3ef0b9-ab11-46dc-b279-30b94cea8d86">6,136</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzUtMS0xLTEtNTEwNDQy_8ea124da-a153-48f6-813e-7fd0fd581d49">37</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="ifrs-full:GainsOnDisposalsOfInvestments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzYtMS0xLTEtNTEwNDQy_58ccfc95-164b-4a5d-8227-4c442cdf086d">6,099</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzctMS0xLTEtNTEwNDQy_7efd6ec6-b053-4bf0-bdbc-809fae1c2e62">162</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result attributable to non-controlling shareholders</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzgtMS0xLTEtNTEwNDQy_06a4a875-8008-4bf7-8886-a6bd16dba821">2,246</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result attributable to equity holders of the parent</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="ifrs-full:ProfitLossAttributableToOwnersOfParent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTpmZWQ1ODdlZjVkZGQ0YTdmOTk4MDQ2MzQyYTg2ZTJjYi90YWJsZXJhbmdlOmZlZDU4N2VmNWRkZDRhN2Y5OTgwNDYzNDJhODZlMmNiXzktMS0xLTEtNTEwNDQy_9c6af6f1-afe0-4b3d-abe9-dccccf7da919">3,691</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the closing of these transactions, the companies of the Europe and Latin Am&#233;rica towers divisions were excluded from the consolidation perimeter. The Telef&#243;nica Group operators maintained the leases agreements of the towers signed with the sold subsidiaries of Telxius. Consequently, as of the closing date of the transactions, rights of use and lease liabilities were recorded in the consolidated statement of financial position, amounting to <ix:nonFraction unitRef="eur" contextRef="i6fd39e97f80448bf8240aed359d2f3b6_I20210802" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzgwMjA_75fc1e0e-fc4a-45ea-926b-612a0ca23796">2,633</ix:nonFraction> million euros (see Note 9) and <ix:nonFraction unitRef="eur" contextRef="i6fd39e97f80448bf8240aed359d2f3b6_I20210802" decimals="-6" name="ifrs-full:LeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzgwNTQ_a9d50542-5a24-4e15-84a6-9ebccaa67a79">2,775</ix:nonFraction> million euros (see Note 20), respectively. </span></div><div style="margin-bottom:9pt;margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Acquisition of mobile assets of Oi Group</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the Purchase Agreement for Acquisition of Unidade Produtiva Isolada (UPI) Mobile Assets of Oi Group took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of the company Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), to which the mobile assets of Oi Group assigned to Telef&#243;nica Brazil had been contributed, under the segregation plan stated in the Oi Agreement (see Note 29.c).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount, still subject to adjustments, of <ix:nonFraction unitRef="brl" contextRef="i9352392f842d48fbaf068cb25dd6fa95_D20220420-20220420" decimals="-6" name="tef:CashTransferredEstimation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzI3NDg3NzkwOTI4MzU_a6f9dac1-72ab-4fb0-b0ea-071afcec66ac">5,373</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="i9352392f842d48fbaf068cb25dd6fa95_D20220420-20220420" decimals="-6" name="tef:CashTransferredEstimation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTc0MjQ_ca85f751-e85b-4fef-975d-9b955649db7f">1,063</ix:nonFraction> million euros at the exchange rate at such date), A payment of <ix:nonFraction unitRef="brl" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:CashTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTEwNzA_88b7815a-a1c1-49c5-a7be-f7aba7638c67">4,885</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:CashTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTc0MTg_a414d903-3b81-46c6-bb9f-b8aeff9d2816">972</ix:nonFraction> million euros) was made at closing of the transaction. The remaining amount, equivalent to <ix:nonFraction unitRef="number" contextRef="i9352392f842d48fbaf068cb25dd6fa95_D20220420-20220420" decimals="2" name="tef:IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTEwNzc_66dd2870-e279-482f-884e-157f18657752">10</ix:nonFraction>% of the payment made on that date, is withheld subject to certain price adjustments and potential indemnification obligations contained in the Oi Agreement. The total consideration also includes <ix:nonFraction unitRef="brl" contextRef="i464bd42ba64c4de1a8a34b5e32203f73_I20220420" decimals="-6" name="ifrs-full:LiabilitiesIncurred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTEwODI_c7fdcbde-7501-47ea-956d-573a31df7bdc">110</ix:nonFraction> million Brazilian reais subject to the fulfilment of certain targets, and other costs amounting to <ix:nonFraction unitRef="brl" contextRef="ie48999d7283742f19dcb9f7108c7cf70_I20220420" decimals="-6" name="ifrs-full:LiabilitiesIncurred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTEwODc_a1ab019b-c0a4-4d8b-8491-87858ceff0af">8</ix:nonFraction> million Brazilian reais. Thus, the total consideration transferred amounted to <ix:nonFraction unitRef="brl" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTEwOTA_188fb39d-6bd7-4d8a-9a3f-9f411841b3d2">5,492</ix:nonFraction> million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTEwOTc_b6badf8f-deb1-4529-8628-b74e8b1f72ed">1,093</ix:nonFraction> million euros at the date of the closing of the transaction). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On the date of approval of these consolidated financial statements, the Company had already concluded the report for the allocation of the purchase price. The fair value assigned to Oi's licenses amounts to <ix:nonFraction unitRef="eur" contextRef="ib0f4a96a5a5a4fab995193bf6563bb61_I20220420" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTExMTM_170e5d95-3b81-4b9d-b633-d19478055619">520</ix:nonFraction> million euros. The goodwill amounts to <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTExMTg_1c8e7e5e-47b1-4f86-adbc-2cd7c3b81fa5">676</ix:nonFraction> million euros (see Note 5).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-15</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span><br/></span></div><ix:continuation id="i02942daeb3ec44109c23ce5d661c024a" continuedAt="i14c18749849f4b63923c55785555b820"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Agreement between Telef&#243;nica de Espa&#241;a and Telef&#243;nica Infra with Vauban Infrastructure Partners and Credit Agricole Assurance for the establishment of Bluevia</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2022, an agreement was reached between Telefonica de Espa&#241;a and Telefonica Infra with the consortium formed by Vauban Infrastructure Partners (Vauban) and Cr&#233;dit Agricole Assurances (CAA) for the establishment of a company, Bluevia Fibra, S.L. for the deployment and commercialization of a fiber to the home network mainly in rural areas in Spain.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 20, 2022 once the regulatory authorizations were obtained and after the fulfillment of the remaining agreed conditions, the transaction was completed.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consortium formed by CAA and Vauban has acquired <ix:nonFraction unitRef="number" contextRef="i621c7354ff5946f882cba2b456eae0c6_D20221220-20221220" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTQ2OTg_0f2511cd-9fb5-41e9-8b9d-6619329f194b">45</ix:nonFraction>% of the Company for a total amount of <ix:nonFraction unitRef="eur" contextRef="i348a21c24edd444bb81f1cf086c65ed2_I20220420" decimals="-6" name="ifrs-full:CashTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTQ3MDM_4f43e279-70a7-4bb9-9e62-e7c92bcd13e7">1,021</ix:nonFraction> million euros in cash, paid on the closing of the agreement (see Note 28). The transaction had no impact on the consolidated income statements of the Telef&#243;nica Group as it consisted on the sale of minority interest, with Telef&#243;nica retaining control over Bluevia. The impact of this transaction in equity attributable to equity holders of the parent was an increase of <ix:nonFraction unitRef="eur" contextRef="ic3326f13191149689d1d2077c260b5f6_D20221220-20221220" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTQ3MTA_0c062518-3cad-4ee5-9fa8-13a1a5545486">986</ix:nonFraction> million euros in "Retained earnings". In addition, there was in increase in equity attributable to non-controlling interest amounting to <ix:nonFraction unitRef="eur" contextRef="i05afa82168314310ba32d108390456ef_D20221220-20221220" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTQ3MTU_29726ebf-23db-400d-aead-8b1201123749">23</ix:nonFraction> million euros (see Note 17).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The difference between the tax value of the assets transferred to Bluevia and their carrying amount in the Group's consolidated annual accounts generated a deferred tax asset for deductible temporary differences amounting to <ix:nonFraction unitRef="eur" contextRef="i6d369070eefd4d58b962ae8abbb7958d_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzE2NDkyNjc0NDQ1MDAw_3332a805-8ba8-4693-9403-6fc91f107be9">548</ix:nonFraction> million euros (see Note 25).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Individual Suspension Plan</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2021, Telef&#243;nica Spain signed a Social Pact for Employment supported by the largest trade unions. Said Pact includes the Company&#8217;s differential commitments and is based on the following six lines of work: equality and diversity; new ways of working, flexibility and productivity; incorporation and retention of talent; reskilling and professional development; functional and geographical mobility; and a plan for the voluntary individual suspension of the employment relationship (the Individual Suspension Plan).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target audience of the Individual Suspension Plan are the employees turning <ix:nonFraction unitRef="y" contextRef="ife7f6865decd40048fa9b4ae025a187d_D20211228-20211228" decimals="INF" name="tef:IndividualSuspensionPlanMinimumAgeOfEmployees" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwNzYy_adc29fbc-f0a8-43fb-b2f8-d5ba9ceb50ef">55</ix:nonFraction> years or older in 2022 and with a seniority of more than <ix:nonFraction unitRef="y" contextRef="ife7f6865decd40048fa9b4ae025a187d_D20211228-20211228" decimals="INF" name="tef:IndividualSuspensionPlanMinimumSeniorityOfEmployees" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwODIw_3a9718aa-a869-47ef-9b8b-c55d244589d8">20</ix:nonFraction> years. Maximum percentages of adhesion differ according to the areas. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The present value of the estimated payment flows resulting from the Plan resulted in expenses amounting to <ix:nonFraction unitRef="eur" contextRef="ife7f6865decd40048fa9b4ae025a187d_D20211228-20211228" decimals="-6" name="tef:IndividualSuspensionPlanPresentValueOfEstimatedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzExMDAx_74629882-1168-46d3-b920-19c2e4428161">1,382</ix:nonFraction> million euros before taxes in 2021 (see Note 24), reflected in "Personnel expenses" to the Consolidated Financial Statements).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Impairment of goodwill of Telef&#243;nica del Per&#250;</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;, amounting to <ix:nonFraction unitRef="eur" contextRef="i7cc2574db46b49d0816fafb539b28a9c_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzExODc0_af2e7df4-1825-42b3-8d03-f64701821d63">393</ix:nonFraction> million euros (see Note 7).</span></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-16</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_283"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 3. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjEz_ded148ba-4691-4878-8eaf-d286ed280871" continuedAt="i01cd595e46eb4a0daee5b78c3b4004ff" escape="true">Accounting policies</ix:nonNumeric></span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><ix:continuation id="i01cd595e46eb4a0daee5b78c3b4004ff" continuedAt="i91f558fa983c4e188bb96d783e06b61d"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As stated in Note 2, the Group&#8217;s consolidated financial statements have been prepared in accordance with IFRSs and interpretations issued by the International Accounting Standards Board (IASB).  </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accordingly, only the most significant accounting policies used in preparing the accompanying consolidated financial statements, in light of the nature of the Group&#8217;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. </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfHyperinflationaryReportingExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjgx_e4f8733a-e51a-4e89-ae6c-6ff7a07ac838" continuedAt="iee1236af8e7a46c3b7889f225ced2321" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Hyperinflationary economies </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venezuela has been considered a hyperinflationary economy since 2009. 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, the Group maintains as a policy for the purposes of the consolidated financial statements the estimation of an exchange rate, known as synthetic exchange rate, that matches the progression of inflation and reflects the economic and financial position of the Group&#8217;s Venezuelan operations in a more accurate way.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The synthetic exchange rate is calculated considering the inflation rates that are published. On an annual basis, these rates are <ix:nonFraction unitRef="number" contextRef="ib87cc49455d64ebda68b7b20812c62b9_D20220101-20221231" decimals="3" name="tef:InflationRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzEyOTE_cf4ea662-d23d-418c-9235-5a6be8f405a2">174.3</ix:nonFraction>%, <ix:nonFraction unitRef="number" contextRef="i24b6285950124359ab3175aa0e5f3eb5_D20210101-20211231" decimals="3" name="tef:InflationRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzEyOTU_fe928c81-8b79-4a85-84b6-14025cd71a99">686.4</ix:nonFraction>% and <ix:nonFraction unitRef="number" contextRef="ic7e2d9f8d79744a18ad5b18a224d8e15_D20200101-20201231" decimals="3" name="tef:InflationRate" format="ixt:num-dot-decimal" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzEzMDI_5c32e55c-c4d5-4cef-98a7-99fc2fb85d0f">2,959.8</ix:nonFraction>% for 2022, 2021 and 2020, respectively. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange rate used to translate inflation-adjusted bolivar-denominated items in the consolidated financial statements is the synthetic exchange rate as of the closing date of each reporting period, amounting to <ix:nonFraction unitRef="venezuelanbolivarinflation_adjustedperusdollar" contextRef="i71bf681bca3545cb9c7dcb2d147eb673_I20221231" decimals="2" name="ifrs-full:ClosingForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE1NTQ_04f68f75-3425-43da-a39a-b4a7e3624a94">45.18</ix:nonFraction> digital bolivars per U.S. dollar, <ix:nonFraction unitRef="venezuelanbolivarinflation_adjustedperusdollar" contextRef="ie2b3f21fb92546719fd020d45b329f3a_I20211231" decimals="2" name="ifrs-full:ClosingForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE1OTE_05e50cbd-2542-4443-a581-98a8c6eb84e5">16.47</ix:nonFraction> digital bolivars per U.S. dollar and <ix:nonFraction unitRef="venezuelanbolivarinflation_adjustedperusdollar" contextRef="ia78bc59dbefd4862a49e89911a150d50_I20201231" decimals="0" name="ifrs-full:ClosingForeignExchangeRate" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MjM_826bdfe3-8b8e-4ef2-ab4b-90dbf7d5a11a">2,094,405</ix:nonFraction> bolivars per U.S. dollar as of December&#160;31, 2022, 2021 and 2020, respectively. In turn, the official reference exchange rate at December 31, 2022 was <ix:nonFraction unitRef="venezuelanbolivarsoberanoPerUSD" contextRef="i71bf681bca3545cb9c7dcb2d147eb673_I20221231" decimals="3" name="ifrs-full:ClosingForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE3NDI_b79c1452-b792-4eba-8a1d-2fc30a66d152">17.489</ix:nonFraction> VED/USD (<ix:nonFraction unitRef="venezuelanbolivarsoberanoPerUSD" contextRef="ie2b3f21fb92546719fd020d45b329f3a_I20211231" decimals="3" name="ifrs-full:ClosingForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE3NTQ_b6cf4353-a495-4455-820d-c716d1b67587">4.597</ix:nonFraction> VED/USD and <ix:nonFraction unitRef="venezuelanbolivarsoberanoPerUSD" contextRef="ia78bc59dbefd4862a49e89911a150d50_I20201231" decimals="0" name="ifrs-full:ClosingForeignExchangeRate" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE3Njk_c763bf74-10e1-4a03-8ffb-21ef86e43ee0">1,107,199</ix:nonFraction>VES/USD at December 31, 2021 and 2020, respectively). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The use of a synthetic exchange rate versus the official reference exchange rate does not have a significant impact given the contribution of Telef&#243;nica Venezolana to the consolidated financial position and to the Group's results and cash flows for the year.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2018 Argentina became a hyperinflationary economy. In order to restate its financial statements, the Company uses the series of indices defined by resolution JG No. 539/18 issued by the Federaci&#243;n Argentina de Consejos Profesionales de Ciencias Econ&#243;micas (FACPCE), based on the National Consumer Price Index (IPC) published by the Instituto Nacional de Estad&#237;stica y Censos (INDEC) of the Argentine Republic and the Wholesale Internal Price Index (IPIM) published by FACPCE. The cumulative index at December 31, 2022, 2021 and 2020 is <ix:nonFraction unitRef="number" contextRef="iee0390ec60cf4248b44ab546ac46c386_I20221231" decimals="3" name="tef:Cumulativeindexrate" format="ixt:num-dot-decimal" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI2Mjc_7f376ed7-169c-4988-a4fa-f4dd925af16c">1,134.6</ix:nonFraction>%, <ix:nonFraction unitRef="number" contextRef="i1159605f60c14517856e7c39d7e25b36_I20211231" decimals="3" name="tef:Cumulativeindexrate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI2MzE_f6992f4d-8be2-4dcb-8449-07fc686183ca">582.5</ix:nonFraction>% and <ix:nonFraction unitRef="number" contextRef="ic3750d619df04764905f43d190c05f09_I20201231" decimals="3" name="tef:Cumulativeindexrate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI2Mzg_132747f9-18e3-4d2a-b2ac-eb152d7a060e">385.9</ix:nonFraction>%, respectively, while on an annual basis the index for 2022 is <ix:nonFraction unitRef="number" contextRef="iba2804b60a954e98bf2fd13269f56fe2_D20220101-20221231" decimals="2" name="tef:AnnualIndexRateUsed" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI3MDM_a12ed7c3-2d60-4eb0-8c02-b1dc20578bd3">95</ix:nonFraction>%</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(<ix:nonFraction unitRef="number" contextRef="id46421c3d7174d1491574de8dd5dec40_D20210101-20211231" decimals="2" name="tef:AnnualIndexRateUsed" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI3MDc_33e92ce9-5401-4826-ab43-b4cf1f391316">51</ix:nonFraction>% and <ix:nonFraction unitRef="number" contextRef="i28bab0393951430a80fcae4ba36a5c49_D20200101-20201231" decimals="2" name="tef:AnnualIndexRateUsed" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI3MTQ_0558e7a5-8447-47f1-97f3-08f8ec064fe7">36</ix:nonFraction>% in 2021 and 2020, respectively). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange rate used to translate inflation-adjusted items denominated in Argentine pesos in the 2022 financial statements is the closing exchange rate as of December 31, 2022 which was <ix:nonFraction unitRef="arsPerEUR" contextRef="iee0390ec60cf4248b44ab546ac46c386_I20221231" decimals="2" name="ifrs-full:ClosingForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI5MzU_a4898940-62c5-45f1-8949-5348a69b3114">189.08</ix:nonFraction> Argentine pesos per euro (<ix:nonFraction unitRef="arsPerEUR" contextRef="i1159605f60c14517856e7c39d7e25b36_I20211231" decimals="2" name="ifrs-full:ClosingForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI5NjQ_da7cb5ef-dbd8-47f6-958c-0b5e6f6e2bc8">116.37</ix:nonFraction> and <ix:nonFraction unitRef="arsPerEUR" contextRef="ic3750d619df04764905f43d190c05f09_I20201231" decimals="2" name="ifrs-full:ClosingForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzI5NzE_5602fed9-6a82-44d0-92b2-78635d642fe7">103.23</ix:nonFraction> Argentine pesos per euro at December 31, 2021 and 2020, respectively). </span></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="iee1236af8e7a46c3b7889f225ced2321">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.</ix:continuation>  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjUy_82e98cb0-5608-4bf0-abc4-f705e51406ad" continuedAt="i3c00564fe3ef43e3827f4ceb840022d2" escape="true">b) Translation methodology </ix:nonNumeric></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i3c00564fe3ef43e3827f4ceb840022d2">The income statements and statements of cash flows of the Telef&#243;nica Group&#8217;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.</ix:continuation> </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzU0_68dc443e-3682-439b-bd95-d96e14413653" continuedAt="i4752d50d9c6b472da27340e7e1784dba" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Goodwill </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-17</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i91f558fa983c4e188bb96d783e06b61d" continuedAt="i51d04a1dc9394936bae11d708b09264b"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i4752d50d9c6b472da27340e7e1784dba">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.</ix:continuation> </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzU2_d80551df-0028-4d32-b155-1d132ec7349e" continuedAt="i41d29f3093944b67972b73d8c7857b2a" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d) Intangible assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets are carried at acquisition or production cost, less any accumulated amortization or any accumulated impairment losses. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets are amortized on a straight-line basis according to the following: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Licenses granted to the Telef&#243;nica 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 Telef&#243;nica Group (&#8220;Service concession arrangements and licenses&#8221;) are amortized on a straight-line basis over the duration of related licenses from the moment commercial operation begins.  </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">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 <ix:nonNumeric contextRef="i5b1620087c444334ab4297d2a9bf0719_D20220101-20221231" name="tef:UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzUzMjg_b0b30071-f4f8-43a5-8aea-ac3df5c8f185">4</ix:nonNumeric> and <ix:nonNumeric contextRef="ieb1e8a74492e4c33b27a7cc4479486cb_D20220101-20221231" name="tef:UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzUzMzU_913de852-ae6b-43ce-a78a-a19f7833eade">14</ix:nonNumeric> years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). </span></div></ix:nonNumeric><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i41d29f3093944b67972b73d8c7857b2a" continuedAt="id8e6d7b67feb4fcaae893fd8ad5b3b3c">&#8226;</ix:continuation></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"><ix:continuation id="id8e6d7b67feb4fcaae893fd8ad5b3b3c">Software is amortized on a straight-line basis over its useful life, generally estimated to be between <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzU1NTk_184e2ba0-1e54-472d-932c-0e02349a8eb6">two</span> and <ix:nonNumeric contextRef="i5fd0b5e57d65468881afe697f78cb6e3_D20220101-20221231" name="tef:UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzU1NjY_df53ef94-a3b3-445c-bd2d-50ab8c8cbd9b">five years</ix:nonNumeric>.</ix:continuation> </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjIy_6354978d-a597-4493-89e7-320152bce2b3" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e) Property, plant and equipment </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment is carried at cost less any accumulated depreciation and any accumulated impairment in value. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest and other financial expenses incurred and directly attributable to the acquisition or construction of qualifying assets are capitalized. Qualifying assets for the Telef&#243;nica Group are those assets that require a period of at least <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale" format="ixt-sec:durmonth" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzYyMzA_c7ed7197-334c-47ea-8d74-af99e6ad2d8d">18</ix:nonNumeric> months to bring the assets to the condition necessary for their intended use or sale. </span></div><div style="margin-top:9pt;text-align:justify"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzM3_c23649cb-7a99-4d49-82b0-224d5bca2ee7" continuedAt="i16d3214dac0c4e35b69c7b07bfd2a566" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group&#8217;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&#8217; 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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Years of estimated<br/>useful life</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buildings</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i7a673c11e01f41348ffad676f49914ac_D20220101-20221231" name="tef:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90YWJsZToxMWIzM2M5OWRkMjI0MDY4YjA5ZDEyZjY2OGRmN2RkYS90YWJsZXJhbmdlOjExYjMzYzk5ZGQyMjQwNjhiMDlkMTJmNjY4ZGY3ZGRhXzEtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246Mzc0MGQ5YTc1Nzk5NGJjNDkyZmEyNDllMzk0Yjc3Y2FfNTYwNzUwOTMwMTY1OTE_13e85b51-5391-4010-bb3f-fe4a5e749c32">25</ix:nonNumeric>  &#8211; <ix:nonNumeric contextRef="i6658c51617364acf91a47e5ef50aeec0_D20220101-20221231" name="tef:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90YWJsZToxMWIzM2M5OWRkMjI0MDY4YjA5ZDEyZjY2OGRmN2RkYS90YWJsZXJhbmdlOjExYjMzYzk5ZGQyMjQwNjhiMDlkMTJmNjY4ZGY3ZGRhXzEtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246Mzc0MGQ5YTc1Nzk5NGJjNDkyZmEyNDllMzk0Yjc3Y2FfNTYwNzUwOTMwMTY1OTc_02450017-0ad3-4376-bef2-faed1e2dd666">40</ix:nonNumeric></span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i9b743d35184744dd8261f00cd03f0eb5_D20220101-20221231" name="tef:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90YWJsZToxMWIzM2M5OWRkMjI0MDY4YjA5ZDEyZjY2OGRmN2RkYS90YWJsZXJhbmdlOjExYjMzYzk5ZGQyMjQwNjhiMDlkMTJmNjY4ZGY3ZGRhXzItMS0xLTEtNTEwNDQyL3RleHRyZWdpb246YjJmMGQxMjYwYjJhNGM5NWI2M2Y3M2ExYjU5YzY3MjNfNTYwNzUwOTMwMTY1ODg_437fa9fa-183b-4fb1-bd55-a4fe36087d46">5</ix:nonNumeric> &#8211;  <ix:nonNumeric contextRef="i04732b5fbd6e4df5b3e6d0f4a616e138_D20220101-20221231" name="tef:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90YWJsZToxMWIzM2M5OWRkMjI0MDY4YjA5ZDEyZjY2OGRmN2RkYS90YWJsZXJhbmdlOjExYjMzYzk5ZGQyMjQwNjhiMDlkMTJmNjY4ZGY3ZGRhXzItMS0xLTEtNTEwNDQyL3RleHRyZWdpb246YjJmMGQxMjYwYjJhNGM5NWI2M2Y3M2ExYjU5YzY3MjNfNTYwNzUwOTMwMTY1OTM_6db90f69-ae4d-4234-9741-8f3c845be78f">25</ix:nonNumeric></span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i8a4646508a5843fdb1123b6e523c668a_D20220101-20221231" name="tef:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90YWJsZToxMWIzM2M5OWRkMjI0MDY4YjA5ZDEyZjY2OGRmN2RkYS90YWJsZXJhbmdlOjExYjMzYzk5ZGQyMjQwNjhiMDlkMTJmNjY4ZGY3ZGRhXzQtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246MThhNTFhY2VkYmZiNGE2ODhjOTIwMWM3MmE4NjI4NDFfNTYwNzUwOTMwMTY1ODk_2f011735-59e8-432d-8e9d-2eecb0b30c40">2</ix:nonNumeric>  &#8211;  <ix:nonNumeric contextRef="i0f3c3010268c46c69654fe49d9d59066_D20220101-20221231" name="tef:UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90YWJsZToxMWIzM2M5OWRkMjI0MDY4YjA5ZDEyZjY2OGRmN2RkYS90YWJsZXJhbmdlOjExYjMzYzk5ZGQyMjQwNjhiMDlkMTJmNjY4ZGY3ZGRhXzQtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246MThhNTFhY2VkYmZiNGE2ODhjOTIwMWM3MmE4NjI4NDFfNTYwNzUwOTMwMTY1OTQ_f4d2585e-259c-470e-bab8-21dd28ed29dc">10</ix:nonNumeric></span></div></td></tr></table></ix:nonNumeric></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzk5_541b70d8-d7b6-4ab7-a1c0-a5a762c9a799" continuedAt="i0213b7edaaf648f4b84023122788203b" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">f) Impairment of non-current assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-current assets, including goodwill, intangible assets and investments in associates and joint ventures, 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&#8217;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. </span></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i0213b7edaaf648f4b84023122788203b">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 <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:PeriodCoveringProjectedCashFlowsForCalculationOfImpairment" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzc4NzY_05e4dbaa-7dbc-4fc9-8209-92dba19cdf88">five years</ix:nonNumeric>. Starting with the sixth year, an expected constant growth rate is applied</ix:continuation>. </span></div></ix:continuation><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzU4_903c26c6-2ba1-4410-990c-0fc5a8c83544" continuedAt="ie6090ec4a3854c97be23a4a545ca2454" escape="true"></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-18</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i51d04a1dc9394936bae11d708b09264b" continuedAt="i514a0130e2474edfbc5fd0f385c44b36"><ix:continuation id="ie6090ec4a3854c97be23a4a545ca2454" continuedAt="i4afd62b8b07c4a1691504156067be180"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">g) Lease agreements </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8211; discounted using the incremental borrowing rate at the start date of the lease.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Notably, 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).</span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i4afd62b8b07c4a1691504156067be180">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.</ix:continuation> </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzcy_fe624ef9-808d-442e-848d-a557893911ff" continuedAt="ifbd9eaa60a0d41f488be20754913de02" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">h) Investment in associates and joint arrangements </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-19</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i514a0130e2474edfbc5fd0f385c44b36" continuedAt="i9e9d61539c774e2ba960f1c09fa323d3"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="ifbd9eaa60a0d41f488be20754913de02">contributed and the fair value of the retained investment and the consideration received from disposal is recognized in full in profit or loss.</ix:continuation> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">i) Financial assets and liabilities </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzkx_161196c4-4263-4f7e-a734-f6df7235ffc6" continuedAt="ieb7de10cfac44825a167cd75681be6e3" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financial Assets</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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).  </span></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="ieb7de10cfac44825a167cd75681be6e3">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.</ix:continuation> </span></div><div><span><br/></span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzEx_207e2664-65cc-4558-ac64-013bd97f4f82" continuedAt="i7a568da5681740f7b4e71b5d3ef16434" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivative financial instruments and hedge accounting </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i7a568da5681740f7b4e71b5d3ef16434">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.</ix:continuation> </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjY5_78ff60b3-b376-4b7f-acba-b8aa966c7148" continuedAt="i6ee403fcbd63406bb88483bf0290a9bc" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">j) Inventories </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories include audio-visual rights which will generally be consumed in a period of less than <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:InventoriesAudioVisualRightsConsumptionPeriod" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MTI5_a38da1ed-3a12-4703-b5b3-9e13d1b1d837">twelve months</ix:nonNumeric>, and advanced payments to suppliers for future rights, as well as own content whose production cycle will in no case exceed <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MjU2_3d99399d-20c3-426f-9362-7c17d26654ec">thirty-six</span> months. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-20</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i9e9d61539c774e2ba960f1c09fa323d3" continuedAt="i6c730ceffc3740d881b125ede0b225da"><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i6ee403fcbd63406bb88483bf0290a9bc" continuedAt="i4c28d91842d94d66a65c50ee95926d44">In-house produced programs and series and program titles are charged at the time of their broadcast or up to <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2OTkx_b3b45b16-ed34-4c35-bab4-6f8ef5179fda">thirty-six</span> 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. </ix:continuation></span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i4c28d91842d94d66a65c50ee95926d44">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.</ix:continuation> </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjU5_1e536f8a-06b0-44d7-9d26-5858d3620a21" continuedAt="i0afe547f35924d1f90eea395710d1dd2" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">k) Pensions and other employee obligations </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i0afe547f35924d1f90eea395710d1dd2">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.</ix:continuation> </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzA4_baf485a7-5e64-4612-9bbb-bad4a2708b15" continuedAt="i9a07d5bbf1394e93aa6be6517cb7cab7" escape="true"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyODM2_b49bee8a-5bba-4482-8930-024fcf4a50c1" continuedAt="i7210d029d3864ae985c05f39c777b757" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">l) Revenues and expenses </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from calls carried on Telef&#243;nica&#8217;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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection revenues from fixed-wireless and wireless-fixed calls and other customer services are recognized in the period in which the calls are made. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the Group is in an intermediary position between a supplier/vendor and an end customer, it must determine if it is supplying the product or service as the principal in the transaction or if it is acting as an agent on behalf of the supplier (manufacturer, wholesaler). The distinction determines who controls the goods or services being provided and who has the primary obligation to satisfy the performance obligation. This assessment affects the timing and amount of revenue recognized in the financial statements, either on a gross basis as the principal or on a net basis as the agent, representing the margin earned by the Group for arranging the transaction between the principal and the customer. This is particularly relevant for the Group in connection with digital services such as streaming TV content and cloud-based software.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div></ix:nonNumeric></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-21</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i6c730ceffc3740d881b125ede0b225da" continuedAt="i3b2f3f12c26543fc8f9557c363a566f1"><ix:continuation id="i9a07d5bbf1394e93aa6be6517cb7cab7"><ix:continuation id="i7210d029d3864ae985c05f39c777b757"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of our strategy, the Group has increased its use of renewable energy through power purchase agreements (PPAs) to purchase energy from sustainable sources, such as wind and solar. These contracts often have a long term and provide the Group with a mechanism to ensure the supply of green energy at fixed prices. When these arrangements involve physical delivery of electricity and are entered into for the purpose of receiving the energy for the entity&#8217;s expected purchase, sale or usage requirements (i.e. volume agreed does not exceed actual and expected power needs), the contract is for &#8220;own use&#8221; and is generally accounted for as power purchases or sales when the underlying transactions take place.</span></div></ix:continuation></ix:continuation><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyODE5_d81531c5-702c-4a23-8f8c-ae10e6c3c2b9" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">m) Non-current assets held for sale</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8220;Non-current assets and disposal groups held for sale&#8221; and &#8220;Liabilities associated with non-current assets and disposal groups held for sale&#8221;. Once classified as held for sale property, plant and equipment and intangible assets (including right-of-use assets) are no longer depreciated or amortized. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:UseOfEstimatesPolicyTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjkz_b907205a-d347-4672-8294-3d2257281ab0" continuedAt="i3fc5be0c67bc45f2af680e6c7e4fd116" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">n) Use of estimates </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s results and financial position. Accordingly, sensitivity analysis are disclosed for the most relevant situations (see Notes 7 and 24). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Non-current assets and goodwill </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting treatment of investments in non-current assets such as property, plant and equipment, intangible assets and interests in associates and joint ventures, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Also, 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. The fair value assigned to the retained investment is determined on the basis of its business plan, including significant judgments when considering significant assumptions such as long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate which would be significantly affected by the future trends in the economic, competitive, regulatory and technological environment. </span></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-22</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i3b2f3f12c26543fc8f9557c363a566f1" continuedAt="ib5ec89773cf8433f92b4501b44c142da"><ix:continuation id="i3fc5be0c67bc45f2af680e6c7e4fd116" continuedAt="i154ee56bc6194dba8eae21ea211f4705"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group evaluates its cash-generating units&#8217; performance on a regular basis to identify potential impairments of goodwill and other non-current assets. Determining the recoverable amount of the cash-generating units also entails the use of assumptions and estimates and requires a significant element of judgment. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred income taxes </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue recognition </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Bundled offers </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Determining standalone selling prices for each identified element requires estimates that are complex due to the nature of the business. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Leases </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-23</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib5ec89773cf8433f92b4501b44c142da" continuedAt="ic46609529b0d4231aa511cdc60326dcb"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i154ee56bc6194dba8eae21ea211f4705">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.</ix:continuation>  </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzUy_326d5be0-4686-442a-a317-47fefe8a8e24" continuedAt="id5c6cc9205714e6c81bdf6ccde69b720" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting policies applied in the preparation of the consolidated financial statements for the year ended December&#160;31, 2022 are consistent with those used in the preparation of the Group&#8217;s consolidated annual financial statements for the year ended December&#160;31, 2021, with the exception of the following new standards and amendments to existing standards issued by the IASB, which are mandatory for annual periods beginning on or after January 1, 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The application of these amendments for the current reporting period did not have a significant impact on the consolidated financial statements of the Group. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amendments. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IAS 37: Costs of fulfilling a contract </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments to IAS 37 clarify that when assessing whether a contract is onerous, an entity needs to include all unavoidable costs that relate directly to a contract, including both incremental costs and an allocation of costs directly related to fulfilling contract activities. The Group applied the amendments to the contracts for which it had not fulfilled all of its obligations at the beginning of the reporting period</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IFRS 3: Reference to Conceptual Framework</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Minor amendments were made to update the references to the Conceptual Framework for Financial Reporting and to add an exception to the recognition principle in IFRS 3 Business Combinations regarding liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and Interpretation 21 Levies. The exception requires entities to apply the criteria in IAS 37 or IFRIC 21, respectively, instead of the Conceptual Framework, to determine whether a present obligation exists at the acquisition date. The amendments to IFRS 3 also clarify that contingent assets do not qualify for recognition at the acquisition date. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IAS 16: Proceeds Before Intended Use</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while the entity is preparing the asset for its intended use (including while assessing technical and physical performance of the asset). Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Annual Improvements to IFRS Standards 2018-2020</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the annual improvements finalized in May 2020, IFRS 9 Financial Instruments was amended to clarify which fees should an entity include when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other&#8217;s behalf.</span></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-24</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ic46609529b0d4231aa511cdc60326dcb" continuedAt="i19f3273794394eb7b9c522eb642f67a9"><ix:continuation id="id5c6cc9205714e6c81bdf6ccde69b720" continuedAt="i0f85603558ec47b2b40aa0ab6281e285"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:174%">New standards and amendments to standards issued but not effective as of December&#160;31, 2022. </span></div><div style="margin-top:9pt;text-align:justify"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzMz_df8412dd-3db5-4c91-a7e2-3c0c5a60b3cd" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.057%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:37.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.855%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Standards and amendments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mandatory application: annual periods beginning on or after</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IFRS 17 (and subsequent amendments)</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Insurance Contracts</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Disclosure of Accounting Policies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Definition of Accounting Estimates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Deferred Tax related to Assets and Liabilities Arising from a Single Transaction</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1 </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Classification of Liabilities as Current or Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Non-current Liabilities with Covenants</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IFRS 16</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Lease Liability in a Sale and Leaseback</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr></table></ix:nonNumeric></div></ix:continuation></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"><ix:continuation id="i19f3273794394eb7b9c522eb642f67a9"><ix:continuation id="i0f85603558ec47b2b40aa0ab6281e285">Based on the assessment performed to date, the Group estimates that the adoption of these new pronouncements will not have a significant impact on the consolidated financial statements in the initial period of application. In particular, the Group has made further progress in its assessment to identify contracts that meet the definition of insurance contracts and are therefore within the scope of IFRS 17 Insurance Contracts, but the Group estimates that the future application of the new requirements will not have a significant impact on consolidated equity upon first-time adoption.</ix:continuation></ix:continuation> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-25</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_286"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 4. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYyNjg_54803c7a-8842-4563-9a05-7155585954e5" continuedAt="i74bf1e1df1ae4879b56ded9caf940f3c" escape="true">Segment information</ix:nonNumeric></span></div><ix:continuation id="i74bf1e1df1ae4879b56ded9caf940f3c" continuedAt="i8b2ca91302514288848ba1270489c2c8"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 the Telef&#243;nica Group is reporting financial information, both internally and externally, according to the following segments: Telef&#243;nica Spain, VMO2 (recorded by the equity method), Telef&#243;nica Germany, Telef&#243;nica Brazil and Telef&#243;nica Hispam (formed by the Group's operators in Colombia, Mexico, Venezuela, Ecuador, Argentina, Chile, Peru and Uruguay).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2021, compared to 2020, the Telef&#243;nica Group changed its reporting segments as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i) On June 1, 2021, upon the establishment of the VMO2 joint venture (whose results are accounted for under the equity method), the former Telef&#243;nica United Kingdom segment was replaced by the new VMO2 segment (see notes 2 and 10). The 2021 results include the consolidation of Telef&#243;nica United Kingdom from January 1 to June 1, and the equity accounting of <ix:nonFraction unitRef="number" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzQ3NQ_9f568ff3-6b00-4697-bca6-94c9a08a575e">50</ix:nonFraction>% of the net result of VMO2 from June 1 to December 31 (see Note 10). The gain registered on the establishment of VMO2, amounting to <ix:nonFraction unitRef="eur" contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601" decimals="-6" name="ifrs-full:GainsOnDisposalsOfInvestments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYxNw_5407cf21-0cc2-41f1-b6a9-6bbdf3188062">4,460</ix:nonFraction> million euros (see notes 2 and 26), are recorded in "Other companies".</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii) The Telxius Group ceased to be a reporting segment as a result of the sale of the telecommunications towers divisions in Europe and Latin America (see Note 2). The Telxius Group&#8217;s results as well as the gain obtained for the sale of the telecommunications towers divisions, amounting to <ix:nonFraction unitRef="eur" contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802" decimals="-6" name="ifrs-full:GainsOnDisposalsOfInvestments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzEzMTU_e278130d-c0d2-447e-bf27-141a2111a448">6,099</ix:nonFraction> million euros (see notes 2 and 26), were recorded in "Other companies".</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The impairment losses on goodwill and other assets of Telef&#243;nica Argentina recorded in 2020, the impairment loss on goodwill of Telef&#243;nica del Per&#250; in 2021 (see Note 7) and the impairment losses on other assets of Telefonica Argentina in 2022 (see notes 6 and 8), are included in the Telef&#243;nica Hispam segment.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The segments referred to above include the information relating to the fixed, mobile, cable, data, internet, television and other digital services businesses provided in each country. Intersegment transactions are carried out as if on an arm's length basis.  </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information relating to other Group companies not specifically included in these segments is reported under "Other companies" (see Appendix I), which includes Telef&#243;nica, 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 Incremental Group and BE-terna Group, acquired in 2022, and Cancom Group, acquired in 2021 (see Note 5), are reported within "Other companies". "Other companies" also includes the share of results of investments accounted for by the equity method corresponding to the fiber optic companies incorporated in 2021 and 2022 (see Note 10). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group centrally manages borrowing activities, mainly through Telef&#243;nica, 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, Telef&#243;nica, S.A. is the head of the Telef&#243;nica 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 through operating income.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The "Eliminations" of the Group at OIBDA level mainly reflected the leases of Telxius Group (in 2020 and 2021, up to the date of sale of these companies) to other Telef&#243;nica Group companies, due to the asymmetry in accounting between lessor and lessee under IFRS 16. This impact is mostly offset at operating income level. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica 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</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-26</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><ix:continuation id="i8b2ca91302514288848ba1270489c2c8" continuedAt="i5551017af4ea4ce39a01296ed431301c"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfOperatingSegmentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYyNTQ_938600ce-0811-4f0a-ac98-331fd7c5ce93" continuedAt="i6c65c39b7fc5423b94cc6fa607093109" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 (see Note 9) regarding the Group&#8217;s operating segments: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.262%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.964%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.238%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f46c0371c2f4c859bb347b5a41584aa_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzMtNy0xLTEtNTEwNDQy_03e8f1e5-2ee1-4f7d-aa61-3a9ae994b096">1,685</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if959ebb6530e4ff79fdde0fe90a86a0a_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzMtOC0xLTEtNTEwNDQy_115c85a0-9464-493b-bc42-d99ba5aafa6d">9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzMtOS0xLTEtNTEwNDQy_3ee0394f-2b07-4178-9e6d-7118ae5686a5">39,993</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic136a30153ae40c4a4fd7c3d61013bbc_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzQtMy0xLTEtNTEwNDQy_48a0ee2a-3858-4f42-acbe-b4084cddc567">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifa403eec7b9b4ab3a166172b6e03ba3b_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzQtNC0xLTEtNTEwNDQy_ff4dbcfe-bda2-4d36-8244-7269616cce71">29</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie46448cb7c3b4e58a669a019ea0e5123_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzQtNS0xLTEtNTEwNDQy_4a5d125a-76bc-44a2-abb8-ad8b1273dea8">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8c0788cc91c749a0b38d6dec67a3b184_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzQtNi0xLTEtNTEwNDQy_af299c10-02a3-4bd8-addb-ab280cc5ed57">115</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i16c144f4f59543c4a16a1078f035b8aa_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzQtNy0xLTEtNTEwNDQy_911ee2ae-1e9f-49c0-b783-e7d109e96da4">1,558</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9dd83b55a2e3469fa52016c53634e99d_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzQtOC0xLTEtNTEwNDQy_be131460-12dc-45b1-8ee5-e5d0f5bbf641">1,991</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i05b4cbb239df4b319af6c463f510151e_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzQtOS0xLTEtNTEwNDQy_10ebd172-96ec-4f5b-9e21-5c004e0c8d6c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9e092d85cd804a97bd4d752485c9b123_D20220101-20221231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzUtMy0xLTEtNTEwNDQy_fc9c72db-2efd-4b0c-be0a-9f37de30db50">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9d1d8ad979214266b41f2e36af6977ec_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzUtNC0xLTEtNTEwNDQy_db8d9d88-1859-4e88-99f6-397eabc844da">5,666</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2a357cf0daa341a8950d69803f2926b2_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzUtNS0xLTEtNTEwNDQy_2ff61415-7db0-44bc-8c4c-6654748e496e">5,138</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia1e36e332640451096dd36125b0712a8_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzUtNi0xLTEtNTEwNDQy_09b83bd6-9c30-4fb0-a820-cbc90f977572">7,183</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f46c0371c2f4c859bb347b5a41584aa_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzUtNy0xLTEtNTEwNDQy_0269733b-72ab-4959-9d1a-def0b4b7007a">3,149</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1b591b85d6ed4b3b9c1d4c888534dd37_D20220101-20221231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzUtOC0xLTEtNTEwNDQy_cd486e1e-2b08-4fa9-ac37-d8fc219b5621">1,904</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzUtOS0xLTEtNTEwNDQy_29bc3a99-0613-4ff2-86bc-ce6683cc7fd1">27,141</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9638381e8e244c3ba8e2cf5b51811489_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzYtMS0xLTEtNTEwNDQy_855edc5b-1c04-46d0-b513-2207e5b6bc8c">4,588</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9e092d85cd804a97bd4d752485c9b123_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzYtMy0xLTEtNTEwNDQy_1a5e0075-b510-43ca-bc50-61666fb4ee76">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9d1d8ad979214266b41f2e36af6977ec_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzYtNC0xLTEtNTEwNDQy_b043a8a7-c951-4a3f-ab38-90d4b1d453d5">2,558</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a357cf0daa341a8950d69803f2926b2_D20220101-20221231" decimals="-6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f46c0371c2f4c859bb347b5a41584aa_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzYtNy0xLTEtNTEwNDQy_a14334ce-019f-4d53-b47e-b76d8c0c2ec2">94</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1b591b85d6ed4b3b9c1d4c888534dd37_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:RevenueAndOperatingIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzYtOC0xLTEtNTEwNDQy_ad9157f0-aee0-4ef7-a163-8e9fdb4c7ce5">78</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzYtOS0xLTEtNTEwNDQy_7d1cb3f6-0c6d-4d30-bf89-468b302362d2">12,852</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9d1d8ad979214266b41f2e36af6977ec_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzctNC0xLTEtNTEwNDQy_f529621b-4393-4ec4-b18a-157a4afddfe6">2,295</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt 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name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzctOS0xLTEtNTEwNDQy_348013fa-51d0-4c3f-8435-77ac948efac1">8,796</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a357cf0daa341a8950d69803f2926b2_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossFromOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzgtNS0xLTEtNTEwNDQy_d5c028a9-e890-4ad4-813d-fd075b8c05ac">1,363</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a357cf0daa341a8950d69803f2926b2_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzEwLTUtMS0xLTUxMDQ0Mg_e5566cf9-7b95-49dc-8fe6-a759c1638953">1,795</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic612c57d47b849969d67c814a6a96dae_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzEwLTctMS0xLTUxMDQ0Mg_932ec9c1-fe94-4ede-8249-479c783215b9">212</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9d1d8ad979214266b41f2e36af6977ec_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMzlmOTA1NGZiYjM0MTY5YjUzODhjZTk4YmE2YTg1MC90YWJsZXJhbmdlOjAzOWY5MDU0ZmJiMzQxNjliNTM4OGNlOThiYTZhODUwXzExLTQtMS0xLTUxMDQ0Mg_d5fef33e-91a5-49c9-83e4-78632198e5a1">594</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i71aed1eb31a14df1bc334d36cc1b45e3_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzMtNC0xLTEtNTEwNDQy_e2db6dd7-d85a-434d-85af-ee919f2d4d0a">6,897</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8cd0056ac972483c8e8f20a1f5c321f1_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzMtNi0xLTEtNTEwNDQy_91f11ba1-77f9-4b6d-8fb4-e43f0bdb4641">1,628</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzMtOC0xLTEtNTEwNDQy_a18de322-62d7-468e-9bb2-805c57553652">39,277</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzQtMy0xLTEtNTEwNDQy_0849cdab-1db6-4ba9-baf6-d1df6a490fa0">27</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie62aa445032c44f0a0df67dfcd6ca9f7_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzQtNC0xLTEtNTEwNDQy_329bda77-20a2-4868-97c9-18350ace7ebd">13</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i63ba648e831c43e6888c4b74431e95a5_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzQtNS0xLTEtNTEwNDQy_d93feb85-da9d-4730-b887-3783f14ef3fe">104</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia412352c819c4dc4937a6763c1904657_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzQtNi0xLTEtNTEwNDQy_6627c597-29c5-4dd1-bb7e-648b9da299a6">1,431</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i23f14628ba4c429ab2122e57b6fd0434_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzQtNy0xLTEtNTEwNDQy_d16746df-31a0-45d1-b9d0-45e4831f823c">1,855</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i407e5ad2651049c8ab273fe2dc6d08f2_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzQtOC0xLTEtNTEwNDQy_2287f608-6591-43be-8cec-9c890f29f5ae">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i99ecaff9c3f44d9786e19ded1217cf63_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzUtMi0xLTEtNTEwNDQy_1419710f-f66b-4d3c-8039-7af7b5e32be0">1,709</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idc398200998c42bf8c21362d6a4ed106_D20210101-20211231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzUtMy0xLTEtNjkzMDY4_ac697219-34da-45b7-83fc-358273e97139">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i31748c7f644e497e8639660a2c1c6e73_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzUtMy0xLTEtNTEwNDQy_7dfa123e-6c7e-472e-893e-6ca279385483">5,341</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i191851b252564dc1bd73c32d16143fd8_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzUtNC0xLTEtNTEwNDQy_7c23d910-edd9-4d82-8acf-812d2db44271">3,772</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i169f29f18f064dbe8825bf8d15965856_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzUtNS0xLTEtNTEwNDQy_062b7df8-aae1-45c9-ab1a-4117a0a32ff1">6,644</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8cd0056ac972483c8e8f20a1f5c321f1_D20210101-20211231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzUtNi0xLTEtNTEwNDQy_92e7ebc0-8efa-4511-a7c2-112890e450f0">7,589</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i91393b5194e74c6e9c3f38d425c89a62_D20210101-20211231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzUtNy0xLTEtNTEwNDQy_65b03cce-cd63-4d66-be85-c36511d10366">1,623</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2315dc144aae4998922b4eace6e2cc5c_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzYtMS0xLTEtNTEwNDQy_925b72f9-07de-46f2-a844-115d1496b692">3,377</ix:nonFraction></span><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idc398200998c42bf8c21362d6a4ed106_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:fixed-zero" scale="6" 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name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzYtNC0xLTEtNTEwNDQy_76132450-b1e1-4333-92b4-970b33246736">3,138</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i169f29f18f064dbe8825bf8d15965856_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzYtNS0xLTEtNTEwNDQy_ed7dc144-4acb-402d-83b8-956948cbdc68">1,718</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8cd0056ac972483c8e8f20a1f5c321f1_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzYtNi0xLTEtNTEwNDQy_f8d6a6e2-db70-48f2-aa44-46ced12fd41c">10,648</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i191851b252564dc1bd73c32d16143fd8_D20210101-20211231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzctNC0xLTEtNTEwNDQy_ecd9b4af-e27c-4c94-9144-85a57a02f770">1,918</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8cd0056ac972483c8e8f20a1f5c321f1_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzExLTYtMS0xLTUxMDQ0Mg_71fea37a-8e93-4bb8-9016-3896c11f6d47">113</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i91393b5194e74c6e9c3f38d425c89a62_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzExLTctMS0xLTUxMDQ0Mg_bd23fa6a-735a-4549-8d2b-af4ad043e0ee">254</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpiOTgzNzM3MTdiOTA0Y2I2YTM5MzZjNmUwZGQxMzM5Yy90YWJsZXJhbmdlOmI5ODM3MzcxN2I5MDRjYjZhMzkzNmM2ZTBkZDEzMzljXzExLTgtMS0xLTUxMDQ0Mg_43a1e960-dc7e-4e26-a1c2-c14a854e69c4">2,439</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income and expenses includes &#8220;Other income&#8221;, &#8220;Supplies&#8221;, &#8220;Personnel expenses&#8221; and &#8220;Other expenses&#8221;.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Additionally, rights of use in the amount of <ix:nonFraction unitRef="eur" contextRef="i9cf7fdb3eca34ead9fda409db6e18c36_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzU0OTc1NTgxNDg1MTU_885fb2af-a825-4bce-a194-b64c693c55f9">2,633</ix:nonFraction> million euros were recorded in 2021 following the sale of the tower division of Telxius (see Note 9).</span></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-27</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i5551017af4ea4ce39a01296ed431301c" continuedAt="ic55c2766b3d94199bb8d477884472aed"><ix:continuation id="i6c65c39b7fc5423b94cc6fa607093109" continuedAt="i10d484ddad6c4fc287a9564d1fc10cdb"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"><tr><td style="width:1.0%"></td><td style="width:18.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.501%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.947%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0e7c79ac68cd4aa4b2a0bc5ade7479d0_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzItMy0xLTEtNTEwNDQy_38e05f8d-924d-4963-95c1-baa37d655217">7,532</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i119f9a3a07d6469aa2e0e8e4d4c8013a_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzItNC0xLTEtNTEwNDQy_5deb18f1-cd55-4f3f-a6e1-4f8220cd17fe">7,422</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i154ccf2822bc42f4b9ec5557c20801b3_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzItNS0xLTEtNTEwNDQy_711f72be-a91f-4d73-926d-e254b42d63f5">7,922</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i30c6f9ad42904efc9691ad177397412d_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzItNi0xLTEtNTEwNDQy_2d5cccef-3f40-4d80-9d03-d0bcaa7cf904">2,647</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2ecb98b45e4e4ddcbc7af52ef85d4012_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzMtNC0xLTEtNTEwNDQy_02df5447-ff20-4f77-a491-050fdfc0d97a">7,406</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b2e7489eb194e2c88fd1454ffa29b99_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzMtNi0xLTEtNTEwNDQy_7b865f58-f32d-4bc6-a91e-4cd77047ec94">1,610</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="i4d7cee04bc0c4de38db12a08a6853b55_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzMtOC0xLTEtNTEwNDQy_04f71835-e2c5-4965-9e20-c57692ec8b6f">43,076</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i966ff759bc0940598d46057638ae876c_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzQtMi0xLTEtNTEwNDQy_39289dd9-3f93-4dab-9fcf-fe1e1ba2782f">42</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzQtNi0xLTEtNTEwNDQy_d016b579-5cc7-421b-a5f0-1cf448411f98">1,037</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i812a0b5fa7634fb99a6695f6ab1e75d6_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzQtNy0xLTEtNTEwNDQy_da69bb3a-442e-4e0c-b3e3-ebb41ff8ca33">1,546</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic9ac149db5704a3c8bcebed6525dee51_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzQtOC0xLTEtNTEwNDQy_1462b342-9a5a-427c-b9a7-c3f79a866871">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib88107d4261a4e8c9ef1c3d8159d733c_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzUtMi0xLTEtNTEwNDQy_d9bfc38d-934d-400d-b21a-ea8340f56437">4,644</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0e7c79ac68cd4aa4b2a0bc5ade7479d0_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzUtMy0xLTEtNTEwNDQy_b2951704-982b-4376-b9b4-3ab8fe88414d">5,223</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i119f9a3a07d6469aa2e0e8e4d4c8013a_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzUtNC0xLTEtNTEwNDQy_b030ef49-3662-42de-8866-b33b78f4cff9">4,234</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i154ccf2822bc42f4b9ec5557c20801b3_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzUtNS0xLTEtNTEwNDQy_76712f7c-9aab-4fbf-b110-4bd653e3a511">6,932</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6b2e7489eb194e2c88fd1454ffa29b99_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzUtNi0xLTEtNTEwNDQy_d7b457a7-2e96-4e6a-860c-dc3cf1cb7bc6">2,288</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4143298d191e4aad93bc6206e148d8ba_D20200101-20201231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzUtNy0xLTEtNTEwNDQy_66884389-afc9-4500-bf2d-c0bb92d83943">1,098</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4d7cee04bc0c4de38db12a08a6853b55_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherOperatingIncomeExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzUtOC0xLTEtNTEwNDQy_6a1acb36-03b7-49e2-8332-db21ff1355b7">29,578</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ief338eebd0dd4c4293242b3355ff69cd_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzYtMS0xLTEtNTEwNDQy_8a3b0861-f8f2-4703-bebb-8640e741bce1">5,046</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib88107d4261a4e8c9ef1c3d8159d733c_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzYtMi0xLTEtNTEwNDQy_1d06cee0-a7b0-4e04-add5-20921604140f">2,064</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0e7c79ac68cd4aa4b2a0bc5ade7479d0_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" 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name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzYtNC0xLTEtNTEwNDQy_5ad27502-d2ce-49e0-a1e6-d467c51c07d2">3,188</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" 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contextRef="i4143298d191e4aad93bc6206e148d8ba_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:RevenueAndOperatingIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzYtNy0xLTEtNTEwNDQy_d799a998-5535-4a75-9835-3bb394c3fe57">458</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4d7cee04bc0c4de38db12a08a6853b55_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzYtOC0xLTEtNTEwNDQy_777710aa-1372-474d-b658-0fb28af6488f">13,498</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib88107d4261a4e8c9ef1c3d8159d733c_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzctMi0xLTEtNTEwNDQy_855b8c13-9bb6-436a-8297-864cf2602a21">389</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction 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format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzctNS0xLTEtNTEwNDQy_879a3188-c5f8-47cb-be80-41bf3a765082">2,274</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6b2e7489eb194e2c88fd1454ffa29b99_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzctNi0xLTEtNTEwNDQy_fa67d871-11ae-40cb-a6a5-f4aa193ad7da">468</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4143298d191e4aad93bc6206e148d8ba_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:DepreciationAndAmortisationExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzctNy0xLTEtNTEwNDQy_b488ccca-4e1e-4629-8f5c-d02643eb6060">315</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4d7cee04bc0c4de38db12a08a6853b55_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4d7cee04bc0c4de38db12a08a6853b55_D20200101-20201231" decimals="-6" name="ifrs-full:ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ief338eebd0dd4c4293242b3355ff69cd_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzEwLTEtMS0xLTUxMDQ0Mg_80136320-5a0d-4cb9-8610-06fcfda93b73">1,408</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i119f9a3a07d6469aa2e0e8e4d4c8013a_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzEwLTQtMS0xLTUxMDQ0Mg_645c851e-af20-4ddc-8679-009a1cd3f480">1,372</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4d7cee04bc0c4de38db12a08a6853b55_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzEwLTgtMS0xLTUxMDQ0Mg_c8b77d02-9afa-4d15-9c4e-e6ac1e5925b3">5,861</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4143298d191e4aad93bc6206e148d8ba_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzExLTctMS0xLTUxMDQ0Mg_0fbf923f-3083-4433-8415-e09aed7d122a">909</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4d7cee04bc0c4de38db12a08a6853b55_D20200101-20201231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTo5N2M2NjA0ZDU1YmU0NDk1YWFlMzBkYTdhOTVlNDBmNC90YWJsZXJhbmdlOjk3YzY2MDRkNTViZTQ0OTVhYWUzMGRhN2E5NWU0MGY0XzExLTgtMS0xLTUxMDQ0Mg_fadf074f-688f-4fb2-ab31-1f5e7672625a">2,014</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:FinanceIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzgtMi0xLTEtNzEwNzI3_5e7cae26-00d2-4c2b-8fba-224bc38a10a5">27</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses</span></td><td 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency transaction losses, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzExLTEtMS0xLTcxMDcyNw_7d5b8042-2055-402a-94f7-4aa012cd3101">1,296</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzExLTItMS0xLTcxMDcyNw_453208eb-4785-4223-a316-02ae64310fe0">367</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" sign="-" name="tef:NetFinancialExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzEyLTEtMS0xLTcxMDcyNw_e70bb51f-628f-411f-8423-ce7e2c112262">275</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="tef:NetFinancialExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzEyLTItMS0xLTcxMDcyNw_df105645-0915-448e-bdf2-7aca829b4817">355</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result before taxation</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossBeforeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzEzLTEtMS0xLTcxMDcyNw_ee2097ec-8566-479f-9d56-c6d0773763fe">507</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:ProfitLossBeforeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzEzLTItMS0xLTcxMDcyNw_a5c9890d-e7eb-47c4-93db-2dfa5cc76599">300</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE0LTEtMS0xLTcxMDcyNw_321911e3-aa17-4716-87c4-8fac358ce2a9">15</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE0LTItMS0xLTcxMDcyNw_c923bc89-e206-429b-93d7-9f36c8e774b8">65</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result for the period (<ix:nonFraction unitRef="number" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="2" name="tef:PercentageOfResultForThePeriodOfJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE1LTAtMS0xLTcxMDcyNy90ZXh0cmVnaW9uOjMxNjc4NzY5ODc4YzRhYTBiYjE5MGEwNjUwYTc1NjIyXzU0OTc1NTgxMzg5MjE_9084ed38-4b1b-4548-9ed3-8087c38129c1">100</ix:nonFraction>% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE1LTEtMS0xLTcxMDcyNw_10cb4c8f-798f-4552-8a92-a4a9d7795f48">492</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:ProfitLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE1LTItMS0xLTcxMDcyNw_5cdd3296-10ec-4588-b746-d66f98293e2a">235</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia0bbc4f3b4bb400f84f0f36107868071_D20211231-20211231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE2LTAtMS0xLTcxMDcyNy90ZXh0cmVnaW9uOmQxNTE0MDJhMGYwYTQ2MDZhYjc5NzNjYmI5Mjc4NTQxXzU0OTc1NTgxMzg5MjM_267a55fd-21cd-4276-bcb4-c64d23bfccc6">50</ix:nonFraction>% attributable to Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="tef:FairValueOfInvestmentsInJointVenturesOtherVenturer" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE2LTEtMS0xLTcxMDcyNw_d9734d41-3ca3-45ab-943e-b3049260369f">246</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="tef:FairValueOfInvestmentsInJointVenturesOtherVenturer" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE2LTItMS0xLTcxMDcyNw_bfbdcfb6-d5f0-49cf-af17-8500d103e93d">117</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="tef:OtherAdjustments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE4LTEtMS0xLTcxMDcyNw_d0531bc5-7af9-4d21-9a01-ad5254ddd661">32</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="tef:OtherAdjustments" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE4LTItMS0xLTcxMDcyNw_c311ae36-f12c-40ef-99b1-42d855426cfb">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE5LTEtMS0xLTcxMDcyNw_2f4af464-198c-4d03-a5f8-f2f6b171412d">292</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzE5LTItMS0xLTcxMDcyNw_3cea3f88-5e6c-4ed6-b92a-2bdd2fe86317">103</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital expenditures (CapEx)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzIwLTEtMS0xLTY5MzAxOQ_bb3e5fc0-dea2-45b3-8e2d-9cd7e4099d6b">2,707</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzctMS0xLTEtNTEwNDQy_76f4f8cf-6fd2-4316-85ef-8a1100e6e391">1,508</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzIxLTEtMS0xLTY5MzAxOQ_6782a744-9369-480d-940a-a72b4441c687">118</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjN2Y3N2ViOWE3YTA0MDM4OWViODAyNzBjMjAxN2Y1YS90YWJsZXJhbmdlOmM3Zjc3ZWI5YTdhMDQwMzg5ZWI4MDI3MGMyMDE3ZjVhXzgtMS0xLTEtNTEwNDQy_04eb9cb6-55ec-4923-9502-9a6bebcdc194">75</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-28</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ic55c2766b3d94199bb8d477884472aed" continuedAt="id987ca33258e428c8377c4526c17a2c3"><ix:continuation id="i10d484ddad6c4fc287a9564d1fc10cdb" continuedAt="iec9023c904bc420a9ca587830452f705"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents main assets and liabilities by segment: </span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.087%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.944%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2 </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzItNi0xLTEtNTEwNDQy_3eec2adf-9fa8-41dd-9444-214c975e13bd">7,870</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzItNy0xLTEtNTEwNDQy_2420561c-fb38-4c12-9b9b-6970b45d5235">2,237</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzItOC0xLTEtNTEwNDQy_770a77ea-95ba-4f23-bcb4-cec85273659e">9</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzItOS0xLTEtNTEwNDQy_494edf2b-d754-443a-b453-0ad7c4faa0d1">54,202</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzMtNC0xLTEtNTEwNDQy_b9707d2c-86cb-4e94-8c14-9abfcd45d87c">3,277</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c00c5e035194bd69bdacd0452162105_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzMtNS0xLTEtNTEwNDQy_5d235004-dfc7-47b0-a82f-2d23d6b7990b">2,048</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzMtNi0xLTEtNTEwNDQy_6c9bc0a0-5406-450d-be59-c2f78fb606f4">1,169</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzQtNi0xLTEtNTEwNDQy_023e395f-5ef7-4165-a163-9f9ae91f27e5">146</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzQtOC0xLTEtNTEwNDQy_5229ddb5-7af3-4475-9a4d-1a0928ffdbf3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzQtOS0xLTEtNTEwNDQy_bf8d9809-0133-4c50-9061-cdedd3d525ce">11,587</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzUtNy0xLTEtNTEwNDQy_05b0be3b-7668-4ce8-b4c4-00ec13b6f1b9">6,082</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzYtNC0xLTEtNTEwNDQy_0c6db435-c2ac-4276-beb9-e9c986b13ca4">463</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c00c5e035194bd69bdacd0452162105_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzYtNS0xLTEtNTEwNDQy_778788ce-2d6d-4742-9b36-92c60dfc5160">485</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzYtNi0xLTEtNTEwNDQy_d3f5bfcf-b42c-4288-bcc8-1d63135086c0">612</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzYtNy0xLTEtNTEwNDQy_de1c2c5f-777b-48f2-ba84-fe434ed95249">929</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzctNS0xLTEtNTEwNDQy_22e151f8-d9cf-4791-b2bb-020430f63d5f">162</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzctNi0xLTEtNTEwNDQy_cdaeb1b1-2d22-4b57-830f-6fb6c6ef385f">222</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzctNy0xLTEtNTEwNDQy_eb553592-908a-44a1-8df5-04243ba44f0a">7,435</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" sign="-" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzctOC0xLTEtNTEwNDQy_12b30cc5-2ee0-4aef-9d85-25c4ffabe8a2">5,441</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzctOS0xLTEtNTEwNDQy_bf563566-982b-41c1-b79d-d8c5e9a7ceca">2,444</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzgtNC0xLTEtNTEwNDQy_15a4fbf1-ff11-4f01-9fd3-f6ad578b47c9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c00c5e035194bd69bdacd0452162105_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzgtNS0xLTEtNTEwNDQy_f0be13d4-554d-4357-aa59-e6094cf8b2ad">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzgtNi0xLTEtNTEwNDQy_1fb5e3af-efc9-451a-9e69-6a1d729aac19">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzgtNy0xLTEtNTEwNDQy_53d25737-a14c-467c-98cc-3c02a2ee0a11">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzgtOC0xLTEtNTEwNDQy_29b7c837-1941-480b-930e-1975a8f9eeab">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzgtOS0xLTEtNTEwNDQy_422ff790-d9d5-4a02-8c1a-69df5ece1555">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib747dc46fff2426786952ecf343a282a_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktMS0xLTEtNTEwNDQy_c1a70627-012b-433a-81ba-0367a9a21622">27,917</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i72481c6d1f9447f3a15bbc0bde1da572_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktMy0xLTEtNTEwNDQy_c4214a09-e814-4759-813b-9a09e656ffb0">10,779</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktNC0xLTEtNTEwNDQy_68a65482-2320-4b22-a8bc-716eedcf5678">19,142</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c00c5e035194bd69bdacd0452162105_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktNS0xLTEtNTEwNDQy_53994ad2-c771-47ce-bff0-5b53e1900a7b">24,875</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktNi0xLTEtNTEwNDQy_6cbebb79-99f1-4953-99d8-41cd54c348e2">15,951</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktNy0xLTEtNTEwNDQy_03a429d1-90f6-406f-aa6d-7beeca8e9013">26,288</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" sign="-" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktOC0xLTEtNTEwNDQy_7229b9bc-fde6-4f0b-ba1d-0cfb24f80d21">15,310</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzktOS0xLTEtNTEwNDQy_5e7a1847-141e-4190-9e0f-fbaf497ec178">109,642</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib747dc46fff2426786952ecf343a282a_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzEwLTEtMS0xLTUxMDQ0Mg_fb72afc5-b588-450e-9c16-f793449b28eb">2,089</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i72481c6d1f9447f3a15bbc0bde1da572_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzEwLTMtMS0xLTUxMDQ0Mg_065d652c-4fb9-445a-8304-3f0b71a6ae6c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzEwLTQtMS0xLTUxMDQ0Mg_e05cb2a9-2c89-4bd1-b029-cf0c40f2c460">1,510</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c00c5e035194bd69bdacd0452162105_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzEwLTUtMS0xLTUxMDQ0Mg_0e7cacf5-441d-4f40-9094-87157a7e941b">653</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzEwLTYtMS0xLTUxMDQ0Mg_269aac8e-bc14-4301-97a9-594d9ba52c42">2,502</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" 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scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzEwLTgtMS0xLTUxMDQ0Mg_b3b4da65-2dd5-45cd-97aa-3d6b8e0367e8">2,120</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE0LTYtMS0xLTUxMDQ0Mg_66226515-88d3-4e60-bcdc-78c543bedf3e">402</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE0LTctMS0xLTUxMDQ0Mg_f2564f35-ab84-49c8-a781-5a9187464d1a">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" sign="-" name="ifrs-full:CurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE0LTgtMS0xLTUxMDQ0Mg_5d445ade-5767-470c-983d-a67639beb7a4">19</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE0LTktMS0xLTUxMDQ0Mg_e703bcc8-a40d-44c2-8e82-ad0001ae2a72">2,020</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities associated with non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE1LTQtMS0xLTUxMDQ0Mg_80309e5b-d84b-4cb3-b267-fd637ca1ae3c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c00c5e035194bd69bdacd0452162105_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE1LTUtMS0xLTUxMDQ0Mg_28d461af-4db2-49f5-b606-09f2a56396ef">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE1LTYtMS0xLTUxMDQ0Mg_c76b8113-8aa7-46e4-b9b2-4d5c647ac62f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1d59e1b8048439eb2f34fa20bbd5e0c_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE1LTctMS0xLTUxMDQ0Mg_ad18427e-8676-47ae-8a95-fbacd774295b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iace1de5b0fbd4285934b54cdf758ec73_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE1LTgtMS0xLTUxMDQ0Mg_f1a3ea8e-8522-4db6-8ab1-f63cee371161">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE1LTktMS0xLTUxMDQ0Mg_6510b1a1-eaca-4c0b-977c-9f809d7aa813">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib747dc46fff2426786952ecf343a282a_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE2LTEtMS0xLTUxMDQ0Mg_7fdc7232-efa0-49aa-ae58-ae775ce8d0b1">16,782</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i72481c6d1f9447f3a15bbc0bde1da572_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE2LTMtMS0xLTUxMDQ0Mg_57f81b01-05b0-4396-98d4-1138d4a5f8bd">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyYzUzZWMxNDEyNDk0MDRkOWJlMDM0NzY1ZDBiMDQ3ZS90YWJsZXJhbmdlOjJjNTNlYzE0MTI0OTQwNGQ5YmUwMzQ3NjVkMGIwNDdlXzE2LTQtMS0xLTUxMDQ0Mg_df4109cf-71ae-434c-a174-921eff529843">10,246</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" 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0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.945%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzItOC0xLTEtNTEwNDQy_663f0213-97eb-4f75-a4fc-5953fa170013">50,969</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzMtNS0xLTEtNTEwNDQy_89aa461d-4688-4ec0-8207-eb50a0ae0a0a">1,064</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic899532779514914bcf40b2c8fcea698_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzMtNi0xLTEtNTEwNDQy_d7bcbc62-cdba-423d-9512-a6b242daa74b">99</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzUtNS0xLTEtNTEwNDQy_93e4080c-8a02-4b5e-b9f3-39a24cbfeff4">1,001</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic899532779514914bcf40b2c8fcea698_I20211231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzUtNi0xLTEtNTEwNDQy_04e23a9c-8fae-4987-87e3-552f2da9a32a">7,428</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8aee6e53326d41b6a2af1a081f38e384_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzYtMy0xLTEtNTEwNDQy_3f14a620-576b-4acc-bcc8-3e9ae036e222">433</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2bc6e450f7534a72afb96e47293c81bd_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzYtNC0xLTEtNTEwNDQy_28c882f3-2e31-4914-9ae8-e69b61f7763b">454</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzctNy0xLTEtNTEwNDQy_52014a13-05de-46dc-a6cd-47e647ae49ca">5,548</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzctOC0xLTEtNTEwNDQy_0e041a71-12c8-4d58-8bd4-b6291dfb3a76">3,835</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtMS0xLTEtNTEwNDQy_04047c3c-6771-45cc-ad2b-e4c02d2ccba2">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a4cc4eef275421691d06d93a78c55e5_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtMy0xLTEtNjkzMTQy_3bb8d349-6486-4a8b-a6b9-7ae29e6ab059">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8aee6e53326d41b6a2af1a081f38e384_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtMy0xLTEtNTEwNDQy_4f7d022b-2cf9-4bf8-9e0c-cb01a534ad66">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2bc6e450f7534a72afb96e47293c81bd_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtNC0xLTEtNTEwNDQy_b7449923-808f-4cb5-9626-205671a6ba4f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtNS0xLTEtNTEwNDQy_c9da1f0a-8d4b-4f08-ad12-48065a2baf8c">102</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic899532779514914bcf40b2c8fcea698_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtNi0xLTEtNTEwNDQy_8a74dd30-6a7c-423b-abec-42498b904e30">256</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i33e32ab9108946009fe940d5962b7604_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtNy0xLTEtNTEwNDQy_6c968c8f-aba5-41f2-b008-48cfc0dfcfa3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzgtOC0xLTEtNTEwNDQy_744b7dd0-aa99-4b50-add8-7431a0fc4ec7">358</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzktMS0xLTEtNTEwNDQy_9efe8f07-d859-4309-b4cc-ba388dad5bed">24,971</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a4cc4eef275421691d06d93a78c55e5_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzktMy0xLTEtNjkzMTQy_0c7f548e-153c-46b0-9d4c-bbb69c1591fa">12,129</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8aee6e53326d41b6a2af1a081f38e384_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzktMy0xLTEtNTEwNDQy_65a8367f-185c-4c4f-bf46-c924036d49ad">19,953</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2bc6e450f7534a72afb96e47293c81bd_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzktNC0xLTEtNTEwNDQy_d9b90ad6-ff5b-4d57-9334-791bbdd96b6b">21,461</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2bc6e450f7534a72afb96e47293c81bd_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzEwLTQtMS0xLTUxMDQ0Mg_143ffda9-0cd2-472b-b793-c8c508706667">11</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzEwLTYtMS0xLTUxMDQ0Mg_64a72409-c98b-462c-8b55-5dc1e2e19095">31,288</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i33e32ab9108946009fe940d5962b7604_I20211231" decimals="-6" sign="-" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE0LTctMS0xLTUxMDQ0Mg_f41f1efa-53aa-4779-9285-cf65bd59ded1">16</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE0LTgtMS0xLTUxMDQ0Mg_6884bab0-0eb9-4bbc-9a87-b61c347f990b">1,679</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities associated with non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTEtMS0xLTUxMDQ0Mg_c4fc6cce-d3d3-437c-8956-6f261fd0409a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a4cc4eef275421691d06d93a78c55e5_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTMtMS0xLTY5MzE0Mg_bfef535a-4a4d-4c17-bc9e-e082e535d573">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8aee6e53326d41b6a2af1a081f38e384_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTMtMS0xLTUxMDQ0Mg_10650fca-5128-4bdf-a5e4-82e1080be963">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2bc6e450f7534a72afb96e47293c81bd_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTQtMS0xLTUxMDQ0Mg_b047a0e4-6ffc-488d-a8b8-8b94c48ded6c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTUtMS0xLTUxMDQ0Mg_5bfa9c9c-4435-444c-be3b-7e0f7a972cfd">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic899532779514914bcf40b2c8fcea698_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTYtMS0xLTUxMDQ0Mg_dd0418f7-5df9-4696-9b95-b65c3223fe29">134</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i33e32ab9108946009fe940d5962b7604_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTctMS0xLTUxMDQ0Mg_cbba8142-3461-4464-8189-09ad2164eae3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE1LTgtMS0xLTUxMDQ0Mg_bb277bcf-518c-4309-a285-9149b9ac7bd9">134</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE2LTEtMS0xLTUxMDQ0Mg_569d1294-94fd-4a19-b4b5-15ed51fe9ad9">17,042</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a4cc4eef275421691d06d93a78c55e5_I20211231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE2LTMtMS0xLTY5MzE0Mg_5fa3460e-a519-40ab-a3b0-4fdd8fc4651e">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8aee6e53326d41b6a2af1a081f38e384_I20211231" decimals="-6" 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contextRef="i2bc6e450f7534a72afb96e47293c81bd_I20211231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpkODk3ODNjNmM2NTA0YTU0YWFhMTI0ZWRjZTgzNTEwMS90YWJsZXJhbmdlOmQ4OTc4M2M2YzY1MDRhNTRhYWExMjRlZGNlODM1MTAxXzE2LTQtMS0xLTUxMDQ0Mg_3a2cebb3-15c3-4191-bb14-199f1564614c">7,600</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-29</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="id987ca33258e428c8377c4526c17a2c3"><ix:continuation id="iec9023c904bc420a9ca587830452f705"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of assets and liabilities of VMO2 is as follows (amounts corresponding to 100% of the company, see Note 10):</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"><tr><td style="width:1.0%"></td><td style="width:47.867%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.301%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.532%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzYtMS0xLTEtNjkzMjA0_72d7d9df-faf9-4988-9403-1bad0bf8460e">79</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzYtMS0xLTEtNTEwNDQy_a51d2acf-38b2-4bdf-a3bf-2c45ca41e579">115</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzctMS0xLTEtNjkzMjA0_40d534af-67b6-459c-bb01-24879a6db9d8">511</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzctMS0xLTEtNTEwNDQy_9192a46f-bbe3-45af-914a-35e29ae79cb3">214</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzktMS0xLTEtNjkzMjA0_3f9accde-db9c-4f0f-9fd0-c329dc1d1e61">50,062</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzktMS0xLTEtNTEwNDQy_a43d7923-1ebc-429b-94d8-697de3a2ef06">52,333</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzEwLTEtMS0xLTY5MzIwNA_0ad67aad-123e-46af-9018-3b71335a57f0">19,668</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzEwLTEtMS0xLTUxMDQ0Mg_0b3799cf-6f61-42a2-8e4f-a22e50b1b147">19,185</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:NoncurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzExLTEtMS0xLTY5MzIwNA_9061db0d-4e96-40c2-8298-ab680c5dcc6a">725</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:NoncurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzExLTEtMS0xLTUxMDQ0Mg_dbdd0cbe-2ec3-4f16-b2fe-fba57ccf16e6">885</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzEyLTEtMS0xLTY5MzIwNA_efa7a6cc-25a2-4df1-a067-66aa375e2272">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzEyLTEtMS0xLTUxMDQ0Mg_8cd3225f-fce0-485b-ae49-096bd19e541f">9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzEzLTEtMS0xLTY5MzIwNA_07e5ada8-ace5-4a2e-b023-b571b105e312">3,248</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzEzLTEtMS0xLTUxMDQ0Mg_f79bb19c-e014-414c-b05a-6d95f5d22878">2,841</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzE0LTEtMS0xLTY5MzIwNA_5b6f39a9-f587-44fa-9f2a-ad6876e131d3">221</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzE0LTEtMS0xLTUxMDQ0Mg_adbfccb9-c12d-4400-81dc-5c1c1d690cd1">219</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzE2LTEtMS0xLTY5MzIwNA_022cc4c7-b659-4ded-86db-cf601437c31b">28,626</ix:nonFraction></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTowMmYxMDEzZmRhYjI0ZTdhODJkNzlmN2VlZTdhMjI4OC90YWJsZXJhbmdlOjAyZjEwMTNmZGFiMjRlN2E4MmQ3OWY3ZWVlN2EyMjg4XzE2LTEtMS0xLTUxMDQ0Mg_52a298b2-023e-477a-8d41-b7a8394896f1">28,198</ix:nonFraction></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfGeographicalAreasExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYyNjU_17cd1be4-b4aa-4bec-87bc-cd824ea9911b" escape="true"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of segment revenues is as follows:</span></div><div><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:25.439%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.325%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.351%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.257%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.325%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.084%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.325%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.504%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2022</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2021</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Country by segments</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Spain </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9638381e8e244c3ba8e2cf5b51811489_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzItNC0xLTEtNTEwNDQy_e4f20231-fbe8-4d61-844f-13a3022f50dd">12,497</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2315dc144aae4998922b4eace6e2cc5c_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzItOC0xLTEtNTEwNDQy_e5622543-8941-454e-ad05-5450178911c4">12,417</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzYtMTAtMS0xLTUxMDQ0Mg_3309358c-d99c-4e86-b12f-fa8cbd27604b">5,070</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id097ad27f4614ecb965ac7150c94e941_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzYtMTEtMS0xLTUxMDQ0Mg_4a8d0106-b976-4906-95e4-1566de0e0e15">16</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i154ccf2822bc42f4b9ec5557c20801b3_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzYtMTItMS0xLTUxMDQ0Mg_87d9e0c5-d45d-4c6a-881b-d92f9f5b850a">7,922</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Other and inter-segment eliminations</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt 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style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5cdd6afdd8ed4115a0548a6b4150fa70_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzctOC0xLTEtNTEwNDQy_1ae7da5f-0694-4457-b639-ffd3f11a111c">1,195</ix:nonFraction></span><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzctMTEtMS0xLTUxMDQ0Mg_bdcc0395-9c47-4dce-b8fe-d3a102ac7f18">1,091</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2c8af4e69b404047b37f9aad91a37b16_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" 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style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzgtOC0xLTEtNTEwNDQy_8d5fda5a-8ac7-4fe6-a6ca-595a5b547472">39,277</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZTpjYmE2YmM2MTRiNjc0YTc1YTU0NjdhNTRiZjJkMzY5YS90YWJsZXJhbmdlOmNiYTZiYzYxNGI2NzRhNzVhNTQ2N2E1NGJmMmQzNjlhXzgtMTItMS0xLTUxMDQ0Mg_9bbfb9df-c3e7-44e5-9c33-6c3f906e0fd9">43,076</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Note: In the countries of Telef&#243;nica Hispam segment with separate fixed and mobile operating companies, intercompany revenues were not considered. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The detail of revenues for Telef&#243;nica Spain is shown in the table below. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given the convergence reached at Telef&#243;nica Spain due to the high penetration of convergent offers in Telef&#243;nica Spain, the revenue breakdown by fixed and mobile is less relevant in this segment. 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style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic531195adb2142efb0ad866d99c8ca19_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyMDI4YWMyYjA4YTU0Zjk4YTE2YmUyMTM2ODhkYzU4NC90YWJsZXJhbmdlOjIwMjhhYzJiMDhhNTRmOThhMTZiZTIxMzY4OGRjNTg0XzItMi0xLTEtNTEwNDQy_981ea581-1fe3-43ce-aabb-4a0f8be4d611">9,699</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c2af2351bfe46569f566a1cf5b263fc_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyMDI4YWMyYjA4YTU0Zjk4YTE2YmUyMTM2ODhkYzU4NC90YWJsZXJhbmdlOjIwMjhhYzJiMDhhNTRmOThhMTZiZTIxMzY4OGRjNTg0XzItMy0xLTEtNTEwNDQy_a05f0f72-520b-47be-a98c-3f019a048e8f">9,906</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wholesalers, mobile handsets sales and others</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4843dfa5d0b455dad30442900ef2e43_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyMDI4YWMyYjA4YTU0Zjk4YTE2YmUyMTM2ODhkYzU4NC90YWJsZXJhbmdlOjIwMjhhYzJiMDhhNTRmOThhMTZiZTIxMzY4OGRjNTg0XzMtMS0xLTEtNTEwNDQy_b8cab42d-a440-4bab-aa08-7214d6103894">2,835</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if2a610f0fe8c4114a66f184db389ec06_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyMDI4YWMyYjA4YTU0Zjk4YTE2YmUyMTM2ODhkYzU4NC90YWJsZXJhbmdlOjIwMjhhYzJiMDhhNTRmOThhMTZiZTIxMzY4OGRjNTg0XzMtMy0xLTEtNTEwNDQy_7de8cb2e-affd-41ff-b81c-6311278524ee">2,495</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2315dc144aae4998922b4eace6e2cc5c_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyMDI4YWMyYjA4YTU0Zjk4YTE2YmUyMTM2ODhkYzU4NC90YWJsZXJhbmdlOjIwMjhhYzJiMDhhNTRmOThhMTZiZTIxMzY4OGRjNTg0XzQtMi0xLTEtNTEwNDQy_46818426-6e4c-44b3-8f6c-a57b9844cd8a">12,417</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ief338eebd0dd4c4293242b3355ff69cd_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90YWJsZToyMDI4YWMyYjA4YTU0Zjk4YTE2YmUyMTM2ODhkYzU4NC90YWJsZXJhbmdlOjIwMjhhYzJiMDhhNTRmOThhMTZiZTIxMzY4OGRjNTg0XzQtMy0xLTEtNTEwNDQy_d8c2e285-b0a7-41e5-af3f-b70be33887cc">12,401</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-30</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_289"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 5. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfBusinessCombinationsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzg0NjY_6a947e7f-cd9f-4aaf-9631-b40a212ff631" continuedAt="i8626d8cdc8354b4886b390ac485ff21b" escape="true">Business combinations</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><ix:continuation id="i8626d8cdc8354b4886b390ac485ff21b" continuedAt="ie37457ae3c7e46bcb399193950f01343"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:120%">2022</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of mobile assets of Oi Group</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of the company Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), to which the mobile assets of Oi Group assigned to Telef&#243;nica Brasil had been contributed, under the segregation plan stated in the Oi Agreement (see Note 29).</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The mobile assets of Oi Group finally assigned to Telef&#243;nica Brasil were the following:</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Customers: approximately <ix:nonFraction unitRef="client" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-5" name="tef:NumberOfClientsRecognisedAsOfAcquisitionDate" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY0MzU_720037bc-4d9f-401c-8ebb-233589bb73a3">12.5</ix:nonFraction> million (equivalent to <ix:nonFraction unitRef="number" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="2" name="tef:NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzE1OTQyOTE4NjE1MDgz_5c5fa976-3de7-4c42-a8d6-4d2c529288e7">30</ix:nonFraction>% of the total customer base of the mobile assets of Oi Group) &#8211; according to ANATEL&#8217;s February 2022 data;</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Spectrum: 43 MHz as national population-weighted average (<ix:nonFraction unitRef="number" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="2" name="tef:SpectrumRecognisedAsOfAcquisitionDatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY0NDE_be7b1415-4555-45d1-9049-4bde7081d276">46</ix:nonFraction>% of the radiofrequency of the mobile assets of Oi Group); and</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Infrastructure: contracts for the use of approximately <ix:nonFraction unitRef="sitesofmobileaccess" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-2" name="tef:InfrastructureContractsRecognisedAsOfAcquisitionDate" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY0NDY_5cf65f30-653b-484d-9f6f-554b382ac81d">2.7</ix:nonFraction> thousand sites of mobile access (corresponding to <ix:nonFraction unitRef="number" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="2" name="tef:InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage" format="ixt:num-dot-decimal" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzgyMDA_02486a70-079f-48a5-92c2-fb026d02fd3f">19</ix:nonFraction>% of the sites of the mobile assets of Oi Group).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This transaction brings benefits to the Brazilian telecommunications sector, expanding the capacity to make investments and create technological innovations in a sustainable and rational manner, contributing to the digitalization of the country through the construction and expansion of networks in cutting-edge technologies, such as 5G and fiber, which translates into services with better coverage and quality to users. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzgyMDE_47508274-6f32-4e48-928f-8d1970d2db0b" continuedAt="ifd757bb4bb31432183f6c2b3ec3f9735" escape="true">The following table presents the consideration, the fair value of the identifiable assets and the liabilities assumed at the acquisition date and the goodwill:</ix:nonNumeric></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><ix:continuation id="ifd757bb4bb31432183f6c2b3ec3f9735" continuedAt="i86838aec178747e383caed3feb9cd7dc"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.993%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.807%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consideration</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzEtMS0xLTEtNzAxNzM1_3c87ec1c-7e7b-46c7-b96b-9d2f4c6f5b52">1,093</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzItMS0xLTEtNzAxNzM1_7beb86ae-7aee-43a2-b074-89eca83afe7c">539</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Licenses</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib0f4a96a5a5a4fab995193bf6563bb61_I20220420" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzMtMS0xLTEtNzAxNzM1_5382d6b2-04b1-4af5-ba84-f212288e97de">520</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzQtMS0xLTEtNzAxNzM1_cdf77f1f-952d-4ce8-869e-9ff08980c45c">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzYtMS0xLTEtNzAxNzM1_05d02825-ae8c-411b-be0d-2b81bbce95ea">29</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="tef:RightOfUseAssetsAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzctMS0xLTEtNzAxNzM1_4e725157-4483-483b-875e-f237c1ed4c07">105</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:DeferredTaxAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzgtMS0xLTEtNzAxNzM1_7fdbe145-c659-4047-94b7-a88a555bfefd">44</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="tef:TradeReceivablesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzktMS0xLTEtNzAxNzM1_ab0aa768-ed2e-444e-8c80-01eac7910aa1">74</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="tef:OtherAssetRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzEwLTEtMS0xLTcwMTczNQ_4ae86137-c705-45ee-81f1-a6225d1f2b1e">30</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzExLTEtMS0xLTcwMTczNQ_decbda72-84d2-4dad-ae30-15c003c7f1cf">13</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="tef:LeaseLiabilitiesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzEyLTEtMS0xLTcwMTczNQ_748ad619-5ef8-4ffd-9608-935bc6c91690">117</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzEzLTEtMS0xLTcwMTczNQ_85860e03-bbaa-4a74-99fd-c35e800539d8">24</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="tef:ProvisionsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzE0LTEtMS0xLTcwMTczNQ_72028424-3e51-4f36-bade-1c7d1f1699eb">221</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzE2LTEtMS0xLTcwMTczNQ_bfb3adc3-faa7-4b6b-93cc-73ac8149c798">417</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZToxZTYyY2QwMDFiZDY0NGE4YTY0OWQ3NmJhNmUzYzdhNi90YWJsZXJhbmdlOjFlNjJjZDAwMWJkNjQ0YThhNjQ5ZDc2YmE2ZTNjN2E2XzE3LTEtMS0xLTcwMTczNQ_2219a120-5ff9-4f60-81e5-4dbbdfe8dd6a">676</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-31</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie37457ae3c7e46bcb399193950f01343" continuedAt="icf0b9424d38e470cb4b0f8b62a9bf683"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of the licenses has been determined using the discounted cash flow method of the Income Approach, which considers the earning capacity of the asset. The amortization period of the licenses ranges from <ix:nonNumeric contextRef="i475c248b1c8d4fd0b6b8b3389f1c2ddf_D20220101-20221231" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU2ODU_bd54e85d-b436-4746-b593-b6116631f6f2">5</ix:nonNumeric> to <ix:nonNumeric contextRef="iab72d84200fd4617a7945460f48b0ba2_D20220101-20221231" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU2ODg_cf959813-ede8-4889-b757-e676e67eee01">15</ix:nonNumeric> years (average period of <ix:nonNumeric contextRef="idb53368538e34c118a62c493ca01bdea_D20220101-20221231" name="ifrs-full:UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzgyMDk_4b0b4b28-bdda-4acd-bf79-7a2277c34a17">10.08</ix:nonNumeric> years). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of trade receivables amounts to <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:FairValueOfAcquiredReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU2OTI_21418185-26ed-4bb8-82ff-7e3bead9e10e">74</ix:nonFraction> million euros, which does not differ from the book value consisting of a gross amount of <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:GrossContractualAmountsReceivableForAcquiredReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU2OTY_cc7e461a-07cc-4f9e-88c7-5acdac21adb1">81</ix:nonFraction> million euros, net of estimated impairment losses of <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3MDA_c891ccb0-0758-47be-a4e9-f9f4ec6dcaf7">7</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the acquisition date, contingent liabilities have been recognized at fair value in the amount of <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:ContingentLiabilitiesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3MDM_23a3faca-e8dd-44b3-9808-007afe95afd8">90</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of Garliava since its inclusion in the scope of consolidation and until December 31, 2022 was <ix:nonFraction unitRef="eur" contextRef="iece0586bc90b4e56973253ab7debb6f2_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueOfAcquiree" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzE1OTQyOTE4NjEyMjc5_6b65711b-3128-4d3d-8e5e-25dc2a34a995">206</ix:nonFraction> million euros in revenues and <ix:nonFraction unitRef="eur" contextRef="iece0586bc90b4e56973253ab7debb6f2_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossOfAcquiree" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzE1OTQyOTE4NjEyMjgx_eaea3188-d1ae-4b1b-941d-9f2deab7e266">1</ix:nonFraction> million euros in profit for the period. The information is only available since the mobile assets of Oi assigned to Telef&#243;nica Brasil were contributed to Garliava. Consequently, it is not practicable to calculate these impacts as if the transaction had taken place on January 1, 2022. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 17, 2022, Telef&#243;nica Brasil, together with Claro S.A. and TIM S.A. ("Buyers"), notified Oi, pursuant to the Agreement, about (i) the determination of the post-closing price adjustment in benefit of the Buyers; and (ii) the losses known to date (as defined in the Agreement) in relation to which the Buyers have indemnification rights against the Seller in the total amount of <ix:nonFraction unitRef="brl" contextRef="i411b082ca153453d8e7c46f05f1ca094_I20221231" decimals="-6" name="ifrs-full:AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3NjE_33927bfd-51eb-4874-8619-ca67d3eb8f50">353</ix:nonFraction> million Brazilian reais, of which <ix:nonFraction unitRef="brl" contextRef="i8159c69f1e2b4d8aa7f9795bca438342_I20221231" decimals="-6" name="ifrs-full:AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3NjY_555f506d-6e98-414a-b018-4fab779c65ef">64</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="i8159c69f1e2b4d8aa7f9795bca438342_I20221231" decimals="-6" name="ifrs-full:AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3NzA_ed400339-2161-423c-b2dc-c76435b6042c">12</ix:nonFraction> million euros) are attributable to Telef&#243;nica Brasil. The post-closing adjustment notice presents values and calculations determined with the support of a specialized company, based on the best analysis of the information received and understanding of the Agreement, totaling the maximum amount of <ix:nonFraction unitRef="brl" contextRef="iece0586bc90b4e56973253ab7debb6f2_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3NzQ_350e0315-8732-48b1-b8de-c4ad150d6fe6">3,187</ix:nonFraction> million Brazilian reais for the price adjustment on behalf of the Buyers. From the price adjustment amount calculated, the amount attributable to Telef&#243;nica Brasil is equivalent to up to <ix:nonFraction unitRef="brl" contextRef="ifb93898f262040a3b0fb769f64f96d57_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3ODE_3647229f-973b-4106-a6f8-4c5f15f4c346">1,075</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="ifb93898f262040a3b0fb769f64f96d57_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3ODg_469205b3-356c-4f66-a6e4-03a8d12c3f11">204</ix:nonFraction> million euros), part of which (<ix:nonFraction unitRef="brl" contextRef="i45d8c7b7547f4747b3b567f711b764d2_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3OTc_c5560e2f-04a7-481c-9f9e-6036959462b5">488</ix:nonFraction> million Brazilian reais, approximately <ix:nonFraction unitRef="eur" contextRef="i45d8c7b7547f4747b3b567f711b764d2_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU3OTM_903ade3e-9590-423f-9229-ae40873eff29">93</ix:nonFraction> million euros) is guaranteed by the retention of <ix:nonFraction unitRef="number" contextRef="i45d8c7b7547f4747b3b567f711b764d2_D20220101-20221231" decimals="2" name="tef:IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY0NzM_04bf3fd6-56a1-43e9-95c7-5b8b66d5862e">10</ix:nonFraction>% on the amount paid for the acquisition (see Note 2). On October 3, 2022, Telef&#243;nica Brasil, together with Claro S.A. and TIM S.A., started the arbitration procedure against the Seller (see Note 29.c). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Buyers made a judicial deposit of the amount withheld from the updated purchase price (see Note 15), until the dispute arising from the price adjustment is resolved by arbitration, corresponding to Telef&#243;nica Brazil an amount of <ix:nonFraction unitRef="brl" contextRef="i496ae228cbfb4029ae7f68ae575a5d74_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzE1OTQyOTE4NjE1MDcw_6455491b-c855-4ebb-b033-5e2d8a3acd2e">522</ix:nonFraction> million reais at December 31, 2022 (approximately <ix:nonFraction unitRef="eur" contextRef="i496ae228cbfb4029ae7f68ae575a5d74_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzE1OTQyOTE4NjE1MDQw_183aa1c1-500e-411d-80b2-a0a9763cf16f">94</ix:nonFraction> million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Incremental</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 21, 2022, Telef&#243;nica Telef&#243;nica Tech UK &amp; Ireland, Ltd completed the acquisition of <ix:nonFraction unitRef="number" contextRef="i3c3453ab63334700ac50448476241530_I20220609" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" format="ixt:num-dot-decimal" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzgxOTg_10214e41-1670-4852-8724-4ddb3d1d0fe5">100</ix:nonFraction>% of the shares of the British group Perpetual TopCo, Limited and affiliates (Incremental), one of Microsoft's fastest-growing business partners in the UK, for a <ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU4MTY_c0be671a-dee3-4c51-a6b8-c30a72e2045d">104</ix:nonFraction> million euros consideration (including potential contingent payments linked to its future performance). In addition, at the closing of the transaction a payment was made in the amount of <ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="tef:BusinessCombinationPaymentsToCancelAccountsPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzU4MjE_6fc524da-9273-473f-ba23-cd198927b68f">91</ix:nonFraction> million euros to cancel payment obligations of the acquired companies. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With this acquisition, the Group significantly increased its scale and competencies in Microsoft technologies.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the date of preparation of these consolidated financial statements, the purchase price allocation is provisional. <ix:continuation id="i86838aec178747e383caed3feb9cd7dc" continuedAt="i9a8891dc3546470085f6cbb8c6c3d434">The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:</ix:continuation></span></div></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-32</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="icf0b9424d38e470cb4b0f8b62a9bf683" continuedAt="i3b2fddfb73d049a1be32dc0a0ad26b1d"><div><ix:continuation id="i9a8891dc3546470085f6cbb8c6c3d434" continuedAt="ia58ab81e4fb8448ca2a041f339fb8349"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.993%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.807%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share purchase price</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzEtMS0xLTEtNzAxOTY1_44b93e51-ec4d-46c8-a078-01b1d23dc33e">104</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment obligations cancelled</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="tef:BusinessCombinationPaymentsToCancelAccountsPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzItMS0xLTEtNzAxOTY1_2acc6ae1-7ec4-4d59-b32d-8ec09359049f">91</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:CashTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzMtMS0xLTEtNzAxOTY1_48c47b78-4bfe-4397-9663-d933aa6971c2">195</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzQtMS0xLTEtNzAxOTY1_a53e7c3b-3b11-4b32-a978-ce84cc56f12b">24</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1acdf4cab9cd4ffca7b21b6f40d21a4d_I20220321" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzUtMS0xLTEtNzAxOTY1_0eb9f780-110f-4d01-b914-7fa11cca2f19">23</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idaf762507c31427fbc2ff8d0e722baa3_I20220321" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzYtMS0xLTEtNzAxOTY1_38c1d29e-7b2e-4f14-9070-fbcf173e2f92">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzctMS0xLTEtNzAxOTY1_d34b9ec0-23e1-4db3-991c-cc14505a30dc">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="tef:RightOfUseAssetsAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzgtMS0xLTEtNzAxOTY1_c730788c-2b9d-4318-ac63-d6e70746e445">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="tef:AccountsReceivableRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzktMS0xLTEtNzAxOTY1_dfd6c907-27c1-4ec8-b715-812146c34791">11</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="tef:OtherAssetRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzEwLTEtMS0xLTcwMTk2NQ_6c90b490-0b5d-40f4-bfed-aaed5d2d5a36">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzExLTEtMS0xLTcwMTk2NQ_a3983ece-f27a-4133-a709-6d372ed315ec">9</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="tef:LeaseLiabilitiesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzEzLTEtMS0xLTcwMTk2NQ_d5155fe0-e218-47a4-93d7-b5a42c425061">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzE0LTEtMS0xLTcwMTk2NQ_6c5eb017-6e00-4bc4-9fa4-1e49bc1941b1">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzE1LTEtMS0xLTcwMTk2NQ_d79b299f-e191-4e48-b237-68e11cfb736c">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="tef:OtherLiabilitiesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzE2LTEtMS0xLTcwMTk2NQ_21a9e6cb-92f8-43ca-a4f3-98452bd1afef">11</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Preliminary goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i206f61233c01462083da7d6d98e82407_I20220321" decimals="-6" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTo5ZTQxYjY5YzEwODk0ODA2OGM3NDhiYTUyYzFlMzhlMC90YWJsZXJhbmdlOjllNDFiNjljMTA4OTQ4MDY4Yzc0OGJhNTJjMWUzOGUwXzE4LTEtMS0xLTcwMTk2NQ_b74ac6dc-7fd7-404c-bad1-273d0cd5b8c2">170</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of Incremental to the profit for the year, after the impact of the amortization of the assets identified in the purchase price allocation, has been a <ix:nonFraction unitRef="eur" contextRef="ie33967f2ed5e404699fb296a6afc1adf_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossOfAcquiree" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzYwNzA_e3c77262-f7f7-4d4c-884a-d68af4c731ab">1</ix:nonFraction> million euro profit.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of BE-terna<br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 9, 2022, Telef&#243;nica Cybersecurity &amp; Cloud Tech, S.L.U. completed the acquisition of <ix:nonFraction unitRef="number" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY1MDI_883e415b-a9fd-461b-b8cb-caf3f798690b">100</ix:nonFraction>% of the shares of the German group BE-terna Acceleration Holding GmbH and affiliates ("BE-terna Group"), for a <ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY0OTc_e97de753-9370-4256-b51b-9981b7bbf337">191</ix:nonFraction> million euros consideration (including potential contingent payments linked to its future performance). In addition, at the closing of the transaction a payment was made in the amount of <ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="tef:BusinessCombinationPaymentsToCancelAccountsPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzYxMDU_c2b2745c-22ce-47e2-a494-ca709f3a8934">162</ix:nonFraction> million euros to cancel payment obligations of the acquired companies. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BE-terna Group has a highly qualified team of more than <ix:nonFraction unitRef="employee" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="INF" name="tef:NumberOfEmployeesRecognisedAsOfAcquisitionDate" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY1MTI_6903bf68-4497-4b9e-a917-6abbb08faa31">1,000</ix:nonFraction> employees in <ix:nonFraction unitRef="site" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="INF" name="tef:NumberOfSitesTransferred" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY1MTk_360a78ef-19cf-406f-9ff0-25d297d42af7">28</ix:nonFraction> locations in Germany, Austria, Switzerland, the Adriatic region and the Nordic countries, among other markets. With this acquisition, the Group significantly enriches its geographic scale and its professional and managed services capabilities across Europe.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the date of preparation of these consolidated financial statements, the purchase price allocation is provisional. <ix:continuation id="ia58ab81e4fb8448ca2a041f339fb8349" continuedAt="i1cc77fce665845b68af84a092396edc4">The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:</ix:continuation></span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-33</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i3b2fddfb73d049a1be32dc0a0ad26b1d" continuedAt="i8ead319ce6574fdcb8f6033bfabeb4e3"><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i1cc77fce665845b68af84a092396edc4" continuedAt="i84b7fd11f31d4e238bbf53af7ef823af"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.993%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.807%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share purchase price</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzEtMS0xLTEtNzAyMDQx_cd70c3e9-a1b1-4a97-8559-201bcc05f721">191</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment obligations cancelled</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="tef:BusinessCombinationPaymentsToCancelAccountsPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzItMS0xLTEtNzAyMDQx_5a51cd7b-d4d7-4bc3-a48a-cee52c6ac808">162</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:CashTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzMtMS0xLTEtNzAyMDQx_5a7d7e41-5b6a-49f3-be8c-c1e6f2086525">353</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzQtMS0xLTEtOTM0NTc4_1b86b4e2-37ad-4ada-958a-8df294696a0f">77</ix:nonFraction>&#160;</span></td><td style="border-top:1pt 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzQtMS0xLTEtNzAyMDQx_3d575af5-d641-469a-addd-fee5a3ce5bb9">57</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib8bdb7164ef54007a2ac45447a17ea0e_I20220609" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzUtMS0xLTEtNzAyMDQx_cf203416-2a54-4d46-8792-8990c23dcd6b">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Right of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="tef:RightOfUseAssetsAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzctMS0xLTEtNzAyMDQx_178df60a-9883-43de-8322-eb84b77526fc">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="tef:AccountsReceivableRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzgtMS0xLTEtNzAyMDQx_1bd131ae-e448-4a52-9161-9407be30d677">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="tef:OtherAssetRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzktMS0xLTEtNzAyMDQx_9c5791aa-808c-472d-ad68-02a00a47c1b1">12</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzEwLTEtMS0xLTcwMjA0MQ_1ed7b1b7-e695-439f-9a0a-288163d05f91">17</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzEyLTEtMS0xLTcwMjA0MQ_86a88654-97a8-4405-a745-c42b7b8d3fb7">9</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzEzLTEtMS0xLTcwMjA0MQ_0232c655-ddff-4038-8bf9-f1e1324f5616">21</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current tax payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="tef:CurrentTaxPayablesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzE0LTEtMS0xLTcwMjA0MQ_3c8e5b29-cf15-4626-80c2-33e22eda8c43">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzE2LTEtMS0xLTcwMjA0MQ_d85e91cf-84ac-45bf-89dd-75535d43f775">74</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Preliminary goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i965b1368a28b49d9b701758502c121e6_I20220609" decimals="-6" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTpkYTA1NzQ5MjNmZmM0YjU5YjY1NWJiMjgyMmM3OWFlZS90YWJsZXJhbmdlOmRhMDU3NDkyM2ZmYzRiNTliNjU1YmIyODIyYzc5YWVlXzE3LTEtMS0xLTcwMjA0MQ_f7a3bd96-9e5d-41c7-8cf6-75aa14d4199f">279</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of BE-terna Group to the profit for the year, after the impact of the amortization of the assets identified in the purchase price allocation, has been a <ix:nonFraction unitRef="eur" contextRef="i42229b6c19624b0abebb1eb82a0b7dfd_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ProfitLossOfAcquiree" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzYzMzk_6c45b774-efea-48fa-b594-1cf7d108b562">3</ix:nonFraction> million euros loss.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:120%">2021</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Cancom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 29, 2021, Telef&#243;nica Cybersecurity &amp; Cloud Tech, S.L.U. reached an agreement with Cancom Group for the acquisition of <ix:nonFraction unitRef="number" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzE3MQ_45bc804b-67df-49bc-9d53-4503b64e8bc4">100</ix:nonFraction>% of the shares of the British company Cancom Ltd.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cancom Ltd (currently called Telef&#243;nica Tech UK &amp; Ireland Ltd.) is a company that provides end-to-end advanced cloud and cybersecurity services in the United Kingdom and Ireland.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i84b7fd11f31d4e238bbf53af7ef823af" continuedAt="i8ee0731da3b7499281df85cc17660b67">The following table presents the transaction, fair value of assets and liabilities identified at the acquisition moment, and the goodwill generated:</ix:continuation></span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-34</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i8ead319ce6574fdcb8f6033bfabeb4e3"><div><ix:continuation id="i8ee0731da3b7499281df85cc17660b67"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.993%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.807%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Enterprise value</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consideration (share purchase price)</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="ifrs-full:CashTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzMtMS0xLTEtNTEwNDQy_f7e9c307-419c-46e7-aedb-22436eb83233">271</ix:nonFraction></span><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzQtMS0xLTEtNTEwNDQy_118f52dd-8c65-4cb4-bdd6-e9cef4d09bbd">108</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie6d406c346584585af644bfca620e1ed_I20210729" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzUtMS0xLTEtNTEwNDQy_4d9b1eda-3b3c-435b-ba76-5e96bae978dd">107</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="ifrs-full:PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzctMS0xLTEtNTEwNDQy_c5ea12d5-7841-4e85-9e1d-c97f3520788c">15</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="tef:RightOfUseAssetsAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzgtMS0xLTEtNTEwNDQy_5e54d018-92a0-4e03-a9be-4cd09dcd19ff">8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="tef:OtherNonCurrentAssetsAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzktMS0xLTEtNTEwNDQy_a07541d2-0814-471e-a5f3-65a768fce0b0">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="tef:OtherCurrentAssetsAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzEwLTEtMS0xLTUxMDQ0Mg_1cf4c509-3fd8-4330-9978-7db00d96f113">45</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="ifrs-full:DeferredTaxAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzExLTEtMS0xLTUxMDQ0Mg_6550086d-cd72-4735-86f4-b1a7d13798ce">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="ifrs-full:CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzEyLTEtMS0xLTUxMDQ0Mg_96962388-8c77-4eca-b963-3f0fa62ff9e7">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="ifrs-full:DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzEzLTEtMS0xLTUxMDQ0Mg_f0bf5406-1157-420d-b99b-9d5858504a96">27</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="tef:OtherNonCurrentLiabilitiesAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzE0LTEtMS0xLTUxMDQ0Mg_d197a01c-8782-4d83-8237-3098456d1d11">140</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="tef:OtherCurrentLiabilitiesAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzE1LTEtMS0xLTUxMDQ0Mg_13a7c92a-0220-4b34-9e4d-3d60558112fa">49</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" sign="-" name="ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzE2LTEtMS0xLTUxMDQ0Mg_faf277f7-e992-4b48-8716-522b93652bb7">13</ix:nonFraction>)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="ifrs-full:GoodwillRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzE3LTEtMS0xLTUxMDQ0Mg_445c4465-feb4-494c-9030-a5540955d2b9">284</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, at the closing of the transaction a payment was made in the amount of <ix:nonFraction unitRef="eur" contextRef="i374e8fe7a376468c87443b75d401c614_I20210729" decimals="-6" name="tef:BusinessCombinationPaymentsToCancelAccountsPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzY0NA_9f0fd7f3-df44-442d-a79c-9e3959b6d6ea">122</ix:nonFraction> million euros to cancel accounts payable of the acquired companies to Cancom Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customer relationships were valued using the MEEM (&#8220;Multiple Excess Earnings Method&#8221;), which is based on calculating the discounted cash flows reflecting the economic benefits attributable to the customer base after consideration of all value contributions of other assets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of Cancom Ltd to the profit for the year 2021, after the impact of the amortization of the assets identified in the purchase price allocation, was a <ix:nonFraction unitRef="eur" contextRef="i0ad41ecc583646e59058692301957538_D20210729-20210729" decimals="-6" sign="-" name="ifrs-full:ProfitLossOfAcquiree" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzExNzI_0f98633a-53b4-4023-a512-8515162e0475">4</ix:nonFraction> million euros loss.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-35</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_292"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%"> Note 6. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfIntangibleAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzU2MzU_3c05eddf-9704-4aae-90ec-6cac88de1093" continuedAt="ib824f9fbfc814435b9d0f24c5eadfbdd" escape="true">Intangible assets</ix:nonNumeric></span></div><ix:continuation id="ib824f9fbfc814435b9d0f24c5eadfbdd" continuedAt="i714a425a98a341c1960bd900045c5b60"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzU1Njc_1df2e22e-b75d-4b34-a26f-009c8ddacf56" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of and movements in net intangible assets in 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.666%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.115%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i06bb91b9833a4f5ea7df71f5f9c3568d_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzItNy0xLTEtNTEwNDQy_0c67b42f-e6c7-4591-b678-13636683168f">392</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i06bb91b9833a4f5ea7df71f5f9c3568d_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzItOC0xLTEtNTEwNDQy_022de330-c78c-4698-9806-7ee2529736af">520</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5709e78c6de94a9f95e403dbcff5135b_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzMtMi0xLTEtNTEwNDQy_8f23af78-5f13-4fff-9c7f-1375c5d4359f">495</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d782de3d4b0406b937f23ace0aeb897_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzQtNy0xLTEtNTEwNDQy_6462f49b-3c74-4c43-b35a-354623ec490d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d782de3d4b0406b937f23ace0aeb897_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzQtOC0xLTEtNTEwNDQy_11c80b15-716b-4af8-894d-1a9b24656cbb">105</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4b6b8d55bb114d878c8f8b8da4d8852a_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzQtMTAtMS0xLTUxMDQ0Mg_f25f5203-32c3-43fd-908c-fe737b100433">721</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0f4469c5b6374d46baa390429cb8c661_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtMS0xLTEtNTEwNDQy_408c2dc1-4e51-43ae-a815-18fdfd1fce27">276</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb30be22893441fbb7768a4f5d51a461_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtMi0xLTEtNTEwNDQy_83db1bed-4ae6-4371-ae38-0c61e2b0e572">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb30be22893441fbb7768a4f5d51a461_D20220101-20221231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtNC0xLTEtNTEwNDQy_a3e46a51-2788-4f8c-a1ca-a6d704f87538">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb30be22893441fbb7768a4f5d51a461_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtNS0xLTEtNTEwNDQy_6a856b22-ea05-40e0-8a9c-b9199489d84d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb30be22893441fbb7768a4f5d51a461_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtNi0xLTEtNTEwNDQy_eba8e70c-80e3-4c22-8a08-eba061f2d107">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb30be22893441fbb7768a4f5d51a461_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtNy0xLTEtNTEwNDQy_65fab6f1-81b4-4c20-9af4-a946bbf0a27b">18</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb30be22893441fbb7768a4f5d51a461_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtOC0xLTEtNTEwNDQy_30268d81-dc36-407a-bbd1-a9678cc870c9">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i684be3d5b24b425a98aa705dfedf7fb5_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzUtMTAtMS0xLTUxMDQ0Mg_74f39df8-10b2-40ea-b4ef-7318c7cd6cc2">263</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0caa482f307a4fce8c55557b4c0a804c_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtMi0xLTEtNTEwNDQy_8a64d766-7482-4b75-80ed-163c2b60d41b">22</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0caa482f307a4fce8c55557b4c0a804c_D20220101-20221231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtMy0xLTEtNTEwNDQy_5de27600-b279-4c78-b924-e676d45c2c70">28</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0caa482f307a4fce8c55557b4c0a804c_D20220101-20221231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtNC0xLTEtNTEwNDQy_1ffa7cb8-008d-4cd1-9e8d-68485f426b6e">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0caa482f307a4fce8c55557b4c0a804c_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtNS0xLTEtNTEwNDQy_ae3d0401-a5fb-43cf-bf0a-27a0ec2e7b23">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0caa482f307a4fce8c55557b4c0a804c_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtNi0xLTEtNTEwNDQy_96e5c24f-9d1f-41e1-8931-8d2155f7cce1">9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0caa482f307a4fce8c55557b4c0a804c_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtNy0xLTEtNTEwNDQy_e3edc938-4e59-4574-869a-cdd2e6aebda2">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0caa482f307a4fce8c55557b4c0a804c_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtOC0xLTEtNTEwNDQy_bb1349a3-91d6-464f-a4c8-386d97c79c34">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iab6de4c9eba54433b5fa482a2b118aa3_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzYtMTAtMS0xLTUxMDQ0Mg_05cbb620-6336-4f53-ab82-4fb4fb767810">39</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c1b49a9952f4c7a85be327b375d2629_D20220101-20221231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzctMy0xLTEtNTEwNDQy_47388f03-f439-4880-9b5c-12c336c027e4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0c1b49a9952f4c7a85be327b375d2629_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzctNS0xLTEtNTEwNDQy_a839a066-804e-46b3-96f2-98feb13866ae">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0c1b49a9952f4c7a85be327b375d2629_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzctNi0xLTEtNTEwNDQy_f6301770-2b24-4f96-a15e-a34436e892c3">818</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c1b49a9952f4c7a85be327b375d2629_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzctNy0xLTEtNTEwNDQy_9a61ae38-d89f-4616-838e-cdb3fcb1244c">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c1b49a9952f4c7a85be327b375d2629_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzctOC0xLTEtNTEwNDQy_82cc6266-09d3-4c63-8607-9d88de537b50">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31174d0ac8ad440b912f3ba26a4fd72b_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzctMTAtMS0xLTUxMDQ0Mg_f12a69c4-ddfd-49e5-8f64-4e4570d5a6c0">644</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtMS0xLTEtNTEwNDQy_b62534ac-394a-48e8-86d1-942fcbe2a22e">11,725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtMi0xLTEtNTEwNDQy_beebd0c4-4828-4d4b-a4f1-160a3ac72188">1,530</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtMy0xLTEtNTEwNDQy_f2966274-a222-4f4b-a642-20985e746445">2,599</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtNC0xLTEtNTEwNDQy_d7497ef9-2eda-4393-9205-62a71c091aac">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtNS0xLTEtNTEwNDQy_70b8abdc-0902-4729-b1e9-c8f37ead408c">31</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtNi0xLTEtNTEwNDQy_f9769330-ecc0-4cc4-ae30-39c994a4ab90">204</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtNy0xLTEtNTEwNDQy_8831c229-0637-4402-97bb-35ccb7481abd">545</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtOC0xLTEtNTEwNDQy_54bdd1b4-9ade-43aa-a534-f861e1c6f843">647</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzgtMTAtMS0xLTUxMDQ0Mg_0934cd22-a611-4942-b062-1ebc845db7d7">12,017</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.911%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.700%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icd4ee3e7557b483f8486e0f8847c5f78_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzUtNC0xLTEtNTEwNDQy_8aed56ca-320d-4457-8d64-839e7ef8a858">210</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icd4ee3e7557b483f8486e0f8847c5f78_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzUtNi0xLTEtNTEwNDQy_bc4e82f9-9b30-442d-9d15-8038794d6fbe">11</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icd4ee3e7557b483f8486e0f8847c5f78_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzUtNy0xLTEtNTEwNDQy_b55c1668-cda1-4431-a945-a367c52181ad">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0f4469c5b6374d46baa390429cb8c661_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzUtOC0xLTEtNTEwNDQy_dbc671e2-04a3-44d5-a245-4ae5f9a47553">276</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8d5567da493d4cf2a03a797cd54bb67b_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzYtMi0xLTEtNTEwNDQy_6f1dfebe-48d7-4a5c-b437-99040d68176c">17</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8d5567da493d4cf2a03a797cd54bb67b_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzYtNC0xLTEtNTEwNDQy_e418b142-1e9b-4594-beb0-08906bb71c91">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8d5567da493d4cf2a03a797cd54bb67b_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzYtNS0xLTEtNTEwNDQy_64bda795-cd4a-401d-be6e-9d2942c55190">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaef7ff2fa2ab4d758088335c95a50bb9_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzYtOC0xLTEtNTEwNDQy_913d176f-ee38-40f8-bd3f-957c434b6ece">42</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibb197c4c5a5e44cfa4f984dfbb8c1706_I20201231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctMS0xLTEtNTEwNDQy_5d576ee3-3f8e-4e13-9f05-c4f79fdba6c0">734</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i08a5f445ee3d48f48a0c8305844aa22e_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctMi0xLTEtNTEwNDQy_d95c4d7d-b67d-4db7-a522-4837da213341">690</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i08a5f445ee3d48f48a0c8305844aa22e_D20210101-20211231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctMy0xLTEtNTEwNDQy_b91fa51e-f292-4f6c-8692-b4faf0de2518">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i08a5f445ee3d48f48a0c8305844aa22e_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctNC0xLTEtNTEwNDQy_1b69d65b-e453-4df0-a0f5-13512f3659e0">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i08a5f445ee3d48f48a0c8305844aa22e_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctNS0xLTEtNTEwNDQy_49e16507-ce98-459e-b375-a18fafa5930e">807</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i08a5f445ee3d48f48a0c8305844aa22e_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctNi0xLTEtNTEwNDQy_1379eef2-274d-4f0d-87fb-c0899798a964">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i08a5f445ee3d48f48a0c8305844aa22e_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctNy0xLTEtNTEwNDQy_8f6b53fe-cea8-41cb-b967-737e350d6a13">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6e0ef5e568c54dbcb9965f335401b777_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzctOC0xLTEtNTEwNDQy_d7724f44-a09a-4174-a350-3ada649fc1a7">614</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtMS0xLTEtNTEwNDQy_3d6954bc-4103-4caa-a404-9868e5229438">11,488</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtMi0xLTEtNTEwNDQy_506a68b3-2a9e-4465-ac8e-ed77201b524f">2,410</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtMy0xLTEtNTEwNDQy_49bf8af2-03e4-403f-8ba4-bd65d33c690b">2,388</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtNC0xLTEtNTEwNDQy_e53e82f3-bb35-4833-9edd-6bc1090080df">229</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtNS0xLTEtNTEwNDQy_d77fce4b-bf30-4345-b836-90f1fc8ed571">215</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtNi0xLTEtNTEwNDQy_7fef0667-655f-4033-b19f-facbd8374318">121</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtNy0xLTEtNTEwNDQy_af134095-5f68-4d87-acb3-a52539a896b8">108</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMGIyNzE5Y2RmYmI0NWExYmVjZDAyMGEwMWM4ZjNjOC90YWJsZXJhbmdlOjIwYjI3MTljZGZiYjQ1YTFiZWNkMDIwYTAxYzhmM2M4XzgtOC0xLTEtNTEwNDQy_5adfccbc-6869-4fb3-83d0-b64600ad3797">11,725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Total additions of intangible assets in 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwillIncludingHeldForSaleAndSold" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzM5Mw_9b04c0c6-1f5f-48ef-be9d-144ffdf889fd">2,981</ix:nonFraction> million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div></ix:nonNumeric><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions of spectrum in 2022 amounted to <ix:nonFraction unitRef="eur" contextRef="i06bb91b9833a4f5ea7df71f5f9c3568d_D20220101-20221231" decimals="-6" name="tef:Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTE0OTg_fea2da7b-82cf-4ae5-b899-37dc4cd1e020">173</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="id2f0ec7853814ac69762ab6fc450f027_D20210101-20211231" decimals="-6" name="tef:Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTE1MDM_3d328e89-21e0-4bcc-b00a-c96ac22d3317">1,704</ix:nonFraction> million euros in 2021, including the additions corresponding to "Non-current assets and disposal groups held for sale").</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 15 MHz of spectrum in the 1900 MHz band was renewed in Colombia for an amount of <ix:nonFraction unitRef="eur" contextRef="i1fc7e03004e447efaea8ab85521daf76_D20220101-20221231" decimals="-6" name="tef:Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTEzOTg_73722b76-a32b-4a09-8945-28c853029fbe">125</ix:nonFraction> million euros. The amount pending payment is detailed in Notes 21 and 22. In 2021, the acquisition of spectrum for 5G in Chile for <ix:nonFraction unitRef="eur" contextRef="i812076a4f61a4a86a9a1ccc5c067c44d_D20210101-20211231" decimals="-6" name="tef:Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTE0MDk_fbdec317-be0b-46c6-aa92-11a306d13127">131</ix:nonFraction> million euros was recorded.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2022 Telef&#243;nica Brazil renewed spectrum in the 850 MHz band for an amount of <ix:nonFraction unitRef="eur" contextRef="i834cd3327c2e44bea87b7db1aa0c65af_D20220101-20221231" decimals="-6" name="tef:Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NjA0Njc_28e3b3cd-1727-4e1e-9549-e1c5f9b7ff1c">35</ix:nonFraction> million euros. The amount pending payment is detailed in Notes 21 and 22.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 Telef&#243;nica Spain acquired one block of 10 MHz in the 3.4 GHz band and 20 MHz of spectrum in the 700MHz band for an amount of <ix:nonFraction unitRef="eur" contextRef="iab083a0ed1b84c49a0fa6ca99bbba279_D20210101-20211231" decimals="-6" name="tef:Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTE0NDc_a434ff5a-507a-41f3-8272-94ada33bd810">352</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On December 3, 2021, ANATEL signed the terms of authorization for the use of the blocks of radio frequencies assigned to Telef&#243;nica Brazil. Pursuant to the terms, in addition to the amounts related to radio frequencies to be paid to ANATEL, the Company is making contributions to the Entidade Administradora de Faixa ("EAF" / Band Management Entity) and to the Entidade Administradora da Conectividade de Escolas ("EACE" / School Connectivity Management Entity). The estimated total cost, registered as addition in "service concession arrangements and licenses" in 2021, amounted to <ix:nonFraction unitRef="brl" contextRef="iabca6700e3a84174a4f8ef35325665e3_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc3NzM_b75aae46-256e-4626-b43b-698e7ff535d1">4,459</ix:nonFraction> million Brazilian real (<ix:nonFraction unitRef="eur" contextRef="iabca6700e3a84174a4f8ef35325665e3_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc3NjE_ccbe6b54-6630-4bf4-b435-17b41bdf9e98">700</ix:nonFraction> million euros at the 2021 average exchange rate), of which <ix:nonFraction unitRef="brl" contextRef="i43645c507e874578ac1bbaba78a6b64e_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc3ODY_540dcc35-f40b-45d7-9bd6-3d6831570f1d">929</ix:nonFraction> million Brazilian real from radio frequency licenses correspond to ANATEL (<ix:nonFraction unitRef="eur" contextRef="i43645c507e874578ac1bbaba78a6b64e_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc3OTE_925acf43-7943-4368-b526-701a3dc8ff19">146</ix:nonFraction> million </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-36</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i714a425a98a341c1960bd900045c5b60" continuedAt="i76cf69b0d98f4dd988df3610ba197898"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">euros at the 2021 average exchange rate), <ix:nonFraction unitRef="brl" contextRef="ica31ac062a104cdbbbd607d7cfdca0d8_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc4MDI_12ac36c1-e38f-465e-afb7-a81beda8acc5">2,104</ix:nonFraction> million Brazilian real to "EAF" (<ix:nonFraction unitRef="eur" contextRef="ica31ac062a104cdbbbd607d7cfdca0d8_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc4MDk_5e944936-c076-4829-867c-f9582b765e55">330</ix:nonFraction> million euros at the 2021 average exchange rate) and <ix:nonFraction unitRef="brl" contextRef="idb2455c332c549e0adcef7070afc4b5d_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc4MjA_f6be1cbe-5aac-4433-a57c-7a7be6e2321f">1,426</ix:nonFraction> million Brazilian real to "EACE" (<ix:nonFraction unitRef="eur" contextRef="idb2455c332c549e0adcef7070afc4b5d_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NTc4Mjc_557b9b1f-c29d-45eb-a7c7-bcf86a0534d8">224</ix:nonFraction> million euros at the 2021 average exchange rate).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As a requirement for obtaining these authorizations, the Company, as well as the other successful telecommunication service bidder providers, assumed a series of commitments. For the 2.3 GHz and 3.5 GHz spectrum band obligations for coverage commitments and fiber optic backbone network deployment in locations with little or no connectivity infrastructure. In addition, the successful bidders for the 3.5 GHz band must fund all activities related to the migration of satellite TV services from the C band to the Ku band, for the construction of six high-capacity info-ways by laying sub fluvial cables for the Integrated and Sustainable Amazon Program ("PAIS") and the implementation of private (fixed and mobile) communication networks reserved for the Federal Public Administration. "EAF" will be responsible for the execution of these activities. The successful bidders for the 26 GHz spectrum bands will be required to fund "EACE's" activities for broadband connectivity projects for public schools to be selected across the country.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In March 2021 Telef&#243;nica United Kingdom acquired 40 MHZ of spectrum in the 3.6 GHz band and 20 MHz in the 700 MHz FDD band, amounting to <ix:nonFraction unitRef="eur" contextRef="ia9084886a89743c69007d863190cd311_D20210101-20211231" decimals="-6" name="tef:Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzM3Njc_0aff3c57-c2e3-47f6-a7b7-a2358dcaf5b3">515</ix:nonFraction> million euros. The acquisition was accounted under "Non-current assets and disposal groups held for sale" in the statement of financial position (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Impairments" in 2022 includes an impairment loss related to licenses and sofware of Telef&#243;nica Argentina, amounting to <ix:nonFraction unitRef="eur" contextRef="i05c8df723128439e94c043153891c39c_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NjEyMzE_62ce6022-7e4e-403d-9805-194aa82fb0db">21</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations&#8221; in 2022 corresponds mainly to the acquisition of the intangible assets of Oi, the Incremental Group and the BE-terna Group amounting to <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzE2NDkyNjc0NDk0NTE_853b5c4e-9126-47df-b394-cb68f8db6bf5">539</ix:nonFraction>, <ix:nonFraction unitRef="eur" contextRef="i457b4d4819b544858cb25f34d63b5588_I20220420" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzQzOTgwNDY1MjEwODc_e0dcd60c-ae7d-452e-8dc9-6d4b1a317b64">24</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="ic5e56ba140ad40a4bf514fbe357a19f8_I20220420" decimals="-6" name="ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzQzOTgwNDY1MjEwOTE_8bacbb84-68c7-4927-a15d-c67aeb50a7c4">77</ix:nonFraction> million euros (see Note 5), respectively.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8220;Business combinations&#8221; in 2021 corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Transfers and others" in 2021 included the reclassification of the intangible assets of Telef&#243;nica de El Salvador amounting to <ix:nonFraction unitRef="eur" contextRef="ica89060791784538b59c7fda48acf772_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzQ0ODQ_e1a55844-d382-4145-a91e-551f99b367ed">38</ix:nonFraction> million euros to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Appendix VI contains the details of the main concessions and licenses which the Group operates. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The effect of the translation into euros of the intangible assets of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a), is shown in the column "Translation differences and hyperinflation adjustments".</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzU1NzI_e6c54259-d71c-41b2-91b7-8a6ac82d55b1" continuedAt="ic476ff089bd34791ba78d640c66eb784" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated amortization and impairment losses of intangible assets at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.418%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6f75a388c44a472d9821afa7ed0bb788_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzItMS0xLTEtNTEwNDQy_7a5aba8e-d821-41c9-8f95-2db1b611b63a">15,837</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic167f08fd3614867b400c5b28a9d618c_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzItMi0xLTEtNTEwNDQy_b4bd0fd5-0a33-4a29-8f8f-b6156da615e4">8,123</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iad3e2c713a4149489c167b67bb203e89_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzItMy0xLTEtNTEwNDQy_f247e15e-2387-4ef7-ac76-efce3aea8a74">164</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1c44b19b5761401797fca2d9ed65674c_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzQtMy0xLTEtNTEwNDQy_0808b6de-51d7-4599-98f4-5901999eb916">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4b6b8d55bb114d878c8f8b8da4d8852a_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzQtNC0xLTEtNTEwNDQy_1ea63c3e-8667-4dbc-979c-543cc694fd22">721</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib13ed9d6156e4c3f8e41b8fd64e6759d_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzUtMS0xLTEtNTEwNDQy_cf85697a-a58d-420b-a7b6-f51a69bca13a">944</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i94ebe414c8ea419684946e584e43ba8d_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzUtMi0xLTEtNTEwNDQy_00179559-7f94-498f-927d-5dad7f027527">681</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i88fd9ec2c5f7411aa76333a2bd9ca0f1_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzUtNC0xLTEtNTEwNDQy_5e962ff6-d685-4eda-88d6-c907810d9e51">263</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6018561076cc4a239e66ba743089f41d_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzYtMS0xLTEtNTEwNDQy_39154b6c-72bc-4fd8-aee0-fc628349aad3">870</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id9cecaadfdb84752b2b99b4e76ba5bf7_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzYtMi0xLTEtNTEwNDQy_7c3e600a-bcc4-4fb4-b147-a7395feb3d7d">829</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7eedfbf9065e40b38b36075c16d0e7ea_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzYtMy0xLTEtNTEwNDQy_625dc247-0362-4d5b-b5e0-7b30a75b4b36">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iab6de4c9eba54433b5fa482a2b118aa3_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzYtNC0xLTEtNTEwNDQy_a00118b1-bea7-4a2b-a1fb-65344d81ccf4">39</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia926e39e07084e6b976f581ecf9335c0_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzctMS0xLTEtNTEwNDQy_f0f50acd-bc04-4c67-98c7-696481254b32">652</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3e725e7d7b5b4341a619e8249b2e3531_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzctMi0xLTEtNTEwNDQy_ebb7eb24-e740-409d-a1dc-b366d52b8114">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie4868b5e11bd4ff288d09a01aeca9c1e_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzctMy0xLTEtNTEwNDQy_dfeba630-ed46-49d7-819b-9c86649e4030">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31174d0ac8ad440b912f3ba26a4fd72b_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzctNC0xLTEtNTEwNDQy_8d0c7fc8-2c76-4038-9a4b-28c263749fdf">644</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8e5de64993b14f6b8d0cc04a1dd2a164_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzgtMS0xLTEtNTEwNDQy_93dd28cd-3a05-48bf-b5e2-03a8de5a9ba4">40,550</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i43dc0f53949847f5ab77a28b645c7f88_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzgtMi0xLTEtNTEwNDQy_b7249321-41c1-4230-b1ab-12e31ddeb130">28,345</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3050be5116e34553be10d44c59cbc776_I20221231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzgtMy0xLTEtNTEwNDQy_9db953c8-6fa3-4077-9c6f-dfef047d316b">188</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZToyMmE4N2VhYjUwMmU0Yjc0ODRlNGFiYTc1ZWIxMTljMS90YWJsZXJhbmdlOjIyYTg3ZWFiNTAyZTRiNzQ4NGU0YWJhNzVlYjExOWMxXzgtNC0xLTEtNTEwNDQy_e9a48c5d-b652-4582-9123-d6fdbc03d5e0">12,017</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-37</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><ix:continuation id="i76cf69b0d98f4dd988df3610ba197898" continuedAt="i686f0ba215ff4ea09c607a2211b9f182"><ix:continuation id="ic476ff089bd34791ba78d640c66eb784" continuedAt="id095901d4c1040f3a739afcf8b1b3fac"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.418%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icb861c8e97c8458e9e1318b3c4a36cb1_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzItMS0xLTEtNTEwNDQy_b8afea20-88fa-44ed-9b1e-445b91972002">14,456</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3ae22c320d924fb09136dc4978fe707f_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzItMi0xLTEtNTEwNDQy_04bda1fb-f224-4d23-8aaf-d2d110fe0d7a">7,007</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i847955232b00486e9e26ef4535daf50c_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzItMy0xLTEtNTEwNDQy_6c581585-404b-44da-a2da-22905af53465">121</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i129a7f11071f4f2085bccd62f9fa65fd_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzItNC0xLTEtNTEwNDQy_aadac3ae-5886-4f15-b5b8-9c598e32e7f5">7,328</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0d4381e2c22244f39971f6108b9f2535_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzMtMi0xLTEtNTEwNDQy_ae43a28f-5fc0-449c-a132-89b7f9a249af">12,938</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6619682ab73948cf8cc8b87338f1f5ce_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzMtMy0xLTEtNTEwNDQy_a7fa585c-6b4d-4501-96bb-b6934e6d0dac">10</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iebd63e4d7bc046fb8cc3d4009ca64eb5_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzMtNC0xLTEtNTEwNDQy_fbaf9e33-1fef-4a04-b8a2-0a9a62f430af">2,494</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i39a2e8d483e34f51a59f3d70a9cce5f6_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzQtMi0xLTEtNTEwNDQy_04e19b26-981b-4011-bd2c-11e5eabeeb77">3,917</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if01baa6a65f048d6b64610457de38eaf_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzQtMy0xLTEtNTEwNDQy_27d7873d-10c6-4658-a233-14812f89f23e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iff0911d9fd8044cc837734eed1e18459_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzQtNC0xLTEtNTEwNDQy_b7af1cf0-24bb-4b50-a756-78782fd2913c">971</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i849e18e7f26a406094c98645bbbb336f_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzUtMS0xLTEtNTEwNDQy_870d5e16-fa7e-4ef7-8b0b-0774c52e3825">901</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i550a30b7fa8643989e76ec640686df1a_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzUtMi0xLTEtNTEwNDQy_1440b07f-eebb-40af-810f-fc7afa915176">625</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icd09a8703f584a22a52f26308e54a98a_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzUtMy0xLTEtNTEwNDQy_a1e5cd89-845d-4677-9f91-eeaf43f816fb">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0f4469c5b6374d46baa390429cb8c661_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzUtNC0xLTEtNTEwNDQy_caa39200-a186-48c2-8382-3af435e15e57">276</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2bc05cedcd254bfab9c4c4150494171b_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzYtMS0xLTEtNTEwNDQy_36cccbdd-fb77-4817-9e31-b42e6f963bdb">910</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8bfdc713ce9f47b5a68f20c081fd48b5_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzYtMi0xLTEtNTEwNDQy_32a5ad74-bc0c-4925-ba28-9b1341c893fa">868</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic212067fc87e4267ab3c076853295f4e_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzYtMy0xLTEtNTEwNDQy_ac353839-ed8e-4916-a4c9-c363bc994f3b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaef7ff2fa2ab4d758088335c95a50bb9_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzYtNC0xLTEtNTEwNDQy_a4a03541-d8ce-4b69-9885-209b895fb0f2">42</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib61fc003a63a4b0796cf1329de8b9e38_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzctMS0xLTEtNTEwNDQy_4d2b66de-bcc5-4a11-9496-d1b04911b3d2">614</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7a0559c7858481f92d621ce48eaec67_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzctMi0xLTEtNTEwNDQy_cc0a1380-0fe9-4042-8f0a-078cb3e50232">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia70d5a0e187444c9be2a30b3df8f4f49_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzctMy0xLTEtNTEwNDQy_d4139ed7-7498-4fbd-b4e1-91a2d438dcc6">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6e0ef5e568c54dbcb9965f335401b777_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzctNC0xLTEtNTEwNDQy_f12c8130-8c17-44e8-94c9-a405134a0787">614</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7450af87bf72419ea25ddf0417bd8325_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzgtMS0xLTEtNTEwNDQy_168807b4-cf1f-49f6-a81b-430fca3671fe">37,211</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3231ebabca6045a8aa8d92a1bc5a886d_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzgtMi0xLTEtNTEwNDQy_ff47cf78-a0a6-4276-897a-6ff063ff299e">25,355</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i853ba26d10194032b58242aaa509008f_I20211231" decimals="-6" sign="-" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzgtMy0xLTEtNTEwNDQy_b5a4860a-b91b-46ce-ba09-34578ef0b02b">131</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTozYThiMTU1N2Q3ZDA0YTBlOGI0YWI3ZTdhNTkyMWVhMC90YWJsZXJhbmdlOjNhOGIxNTU3ZDdkMDRhMGU4YjRhYjdlN2E1OTIxZWEwXzgtNC0xLTEtNTEwNDQy_73d7bad6-8922-4694-993a-21f17d611fc1">11,725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></ix:continuation></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-38</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_295"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 7. <ix:continuation id="i686f0ba215ff4ea09c607a2211b9f182" continuedAt="ibe99a4d4a3f24b2cb774a4f86826e7d2">Goodwill</ix:continuation></span></div><ix:continuation id="ibe99a4d4a3f24b2cb774a4f86826e7d2" continuedAt="i2e5a2be08fc6424b93da9da73b6b603d"><div style="text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Movement in goodwill </span></div><div><span><br/></span></div><ix:continuation id="id095901d4c1040f3a739afcf8b1b3fac"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in goodwill assigned to each Group segment was as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:23.058%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.734%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzUtNS0xLTEtNTEwNDQy_ab8f1b7c-2bed-42ba-b8b9-92e2fd63ba58">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i346673c9bb464b8dafc86107c8666f9e_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzUtNi0xLTEtNTEwNDQy_b0dd89f8-69ec-4289-91d7-951fa3421ed0">49</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic641131034a8491dbbf0278df99a8a16_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzUtNy0xLTEtNTEwNDQy_7a896b76-3a38-4b11-9a3d-5a19e8855bcd">1,215</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1e54779ab35e46078d8e616b72ca50bf_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzYtMS0xLTEtNTEwNDQy_0c46ca1e-8d82-44cf-9683-bcf10ed82044">398</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5ad175739fdc4c4ba3e47a0140bea898_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzYtMi0xLTEtNTEwNDQy_935d08c1-dac4-488a-a3da-e44701e0c35f">457</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5ad175739fdc4c4ba3e47a0140bea898_D20220101-20221231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzYtMy0xLTEtNTEwNDQy_871110e1-8685-4b30-89cb-02afc59b7caa">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5ad175739fdc4c4ba3e47a0140bea898_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzYtNC0xLTEtNTEwNDQy_d98c16ce-d551-43a3-9c4c-5c14003ce90e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5ad175739fdc4c4ba3e47a0140bea898_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzYtNS0xLTEtNTEwNDQy_a39bfc6f-d376-4535-b999-ed03403e2b78">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5ad175739fdc4c4ba3e47a0140bea898_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzYtNi0xLTEtNTEwNDQy_6fae806a-6637-4939-861d-de29c5badc50">23</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic4f1795d71da4b048e44f0193c8e696b_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzYtNy0xLTEtNTEwNDQy_843e39fc-d3ad-4815-847f-fa535a96d7df">827</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c4790485c644e4790481beb687cf0c2_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzctMS0xLTEtNTEwNDQy_38047e19-ee7b-4ff7-a895-23049d5122cf">16,519</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3f625a6bdbc443859033ed4eb9e0a108_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo2MWQ4NjAwYjQ5OGE0NjBmOTE5MTIwM2MxZDIxZWUzNi90YWJsZXJhbmdlOjYxZDg2MDBiNDk4YTQ2MGY5MTkxMjAzYzFkMjFlZTM2XzctMi0xLTEtNTEwNDQy_4335e5a6-8617-40ce-95ed-19aec7126fa0">1,152</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 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style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.869%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzYtMi0xLTEtNTEwNDQy_8377323a-6c44-4aa8-8b56-a4273dcfb6a3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifa93265ea10c46ebbd611dc0f956c025_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzUtMy0xLTEtNzEwODUy_b97609e3-a4ef-42b9-92bd-f3ac01cf609d">137</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifa93265ea10c46ebbd611dc0f956c025_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzYtMy0xLTEtNTEwNDQy_2e75ca2a-68b0-4d48-90ac-651274c85112">393</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifa93265ea10c46ebbd611dc0f956c025_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzYtNC0xLTEtNTEwNDQy_e57b36bb-8e04-4fea-b90b-618364fdcb6f">13</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifa93265ea10c46ebbd611dc0f956c025_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzYtNS0xLTEtNTEwNDQy_50966874-0810-496c-b2a4-e42dc11a40e3">69</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i89eee0debdaa48aaa9a0306bb93c71c8_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzYtNi0xLTEtNTEwNDQy_0821a50e-f581-4851-8f86-9056384fb8b5">1,166</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4fd5e2f3973c4b2eb011d87f0f419c39_I20201231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctMS0xLTEtNTEwNDQy_3ced3821-b04c-468a-9f75-bd4e174fb3f1">151</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i15e361ddee844248aad8eafe90364db8_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctMi0xLTEtNTEwNDQy_809b12b3-af3c-4a48-8a58-711ca7ec3233">297</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i15e361ddee844248aad8eafe90364db8_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzYtMy0xLTEtNzEwODUy_50037f86-3534-4daa-94f0-7418dcaf4f18">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i15e361ddee844248aad8eafe90364db8_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctMy0xLTEtNTEwNDQy_7ba2d45d-4427-47b4-9fb2-da21b8fbe0e9">23</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i15e361ddee844248aad8eafe90364db8_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctNC0xLTEtNTEwNDQy_86efb4c0-fdf6-4535-8503-84326ed758b1">37</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i15e361ddee844248aad8eafe90364db8_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctNS0xLTEtNTEwNDQy_0706c708-8da3-466c-8978-d94b6a49235e">10</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1e54779ab35e46078d8e616b72ca50bf_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctNi0xLTEtNTEwNDQy_83bcaf43-8f6f-4655-baf2-215a1ab7981b">398</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5baa74e0097498aa35522276d58c79c_I20201231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtMS0xLTEtNTEwNDQy_98796f67-d6ec-4aef-983a-a3dbd0b616cb">17,044</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6fa723e4f42f406eaae6b315dc340d8d_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtMi0xLTEtNTEwNDQy_7133f3a2-e546-43c0-8d1a-5631d7d0b258">297</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6fa723e4f42f406eaae6b315dc340d8d_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctMy0xLTEtNzEwODUy_0f9f7459-d86c-43e3-85f2-abf3628d7048">353</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6fa723e4f42f406eaae6b315dc340d8d_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtMy0xLTEtNTEwNDQy_55ad7c46-0ba2-4c3a-a44c-0bd34d9c954e">416</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6fa723e4f42f406eaae6b315dc340d8d_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtNC0xLTEtNTEwNDQy_2332c12f-551b-4a65-bec8-d892b1be3674">50</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6fa723e4f42f406eaae6b315dc340d8d_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtNS0xLTEtNTEwNDQy_08de5634-0602-4bd9-ba38-0fcbb19569cb">3</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c4790485c644e4790481beb687cf0c2_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtNi0xLTEtNTEwNDQy_e6dd4611-2e4b-4acb-aa05-7b7343fdd3e7">16,519</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions of Telef&#243;nica Brazil in 2022 mainly correspond to the goodwill from the acquisition of the assets of the mobile business of Oi Group (see notes 2 and 5).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions in 2022 also include the preliminary goodwill from the acquisitions of Incremental and BE-terna, amounting to <ix:nonFraction unitRef="eur" contextRef="i3fd077d79fbb48eea9a73165a5495a44_D20220321-20220321" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc2OTY1ODE0MTQxNDA_6da88ebb-eab3-451a-94f1-d2c6243b7032">170</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="iaa3bce5a399f4dc988953da7744a81f5_D20220609-20220609" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc2OTY1ODE0MTQxNDg_c662dee9-4374-4dd6-bf1e-0dc5985b15de">279</ix:nonFraction> million euros, respectively (see Note 5).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions in 2021 included the goodwill related to the acquisition of Cancom amounting to <ix:nonFraction unitRef="eur" contextRef="i151024650bb74c6196f7724698b36c13_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzIxMg_9d90ef44-b579-4df7-a556-d38f1d4b08d4">284</ix:nonFraction> million euros (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;, amounting to <ix:nonFraction unitRef="eur" contextRef="i7cc2574db46b49d0816fafb539b28a9c_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzM0Ng_7a276148-aae3-4023-9e7d-beb79747acfb">393</ix:nonFraction> million euros, with a balancing entry in &#8220;Other expenses&#8221; (see Note 26).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2021 the closing of the second phase of the agreement of the contract dated June 8, 2020 between Telef&#243;nica Germany and Telxius was carried out and the sites corresponding to this phase were sold to ATC (see Note 2). The goodwill assigned amounting to <ix:nonFraction unitRef="eur" contextRef="i5d76344a22754c15bfefd02357576da6_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjIzMjY5_82cd9723-f5e8-4d4d-94e2-2dc484088e5b">172</ix:nonFraction> million euros was derecognized. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Disposals of Telef&#243;nica Hispam in 2021 included <ix:nonFraction unitRef="eur" contextRef="id3b99e2c2ce64b4bb3c68f1d59b7d6cc_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzIyODY_9dd19b4a-31d1-44d5-bb06-8c90c65a29cf">137</ix:nonFraction> million euros following the agreement for the sale of <ix:nonFraction unitRef="number" contextRef="if3172cd0e163479cacd84c5297ea7aa4_I20210701" decimals="2" name="tef:PercentageOfVotingEquityTransferedAsConsideration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzIzNDM_9563e28b-823d-49d4-8241-5c06094e6bee">60</ix:nonFraction>% of the shares of InfraCo, SpA by Telef&#243;nica Chile (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of Disposals of Telef&#243;nica Brazil in 2021 corresponded to the goodwill derecognized following the agreement with Caisse de d&#233;p&#244;t et placement du Qu&#233;bec or the construction, deployment and commercialization of a fiber-to-the-home (FTTH) network in Brazil, that was closed in July 2021 (see Note 10). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash-generating units </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEyOTk3_678575f8-8998-482a-8cf1-7da2b3a035d0" continuedAt="if455729de9964e549ae597acb4f56c80" escape="true">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: </ix:nonNumeric></span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-39</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i2e5a2be08fc6424b93da9da73b6b603d" continuedAt="i32a92188c19c440c8f8dbafe116164e7"><div style="margin-top:9pt;text-align:justify"><ix:continuation id="if455729de9964e549ae597acb4f56c80" continuedAt="id8abae08389645d7bb78f12a86bddec2"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:45.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.839%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.841%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia2188e1640a74952aebfc3bed9e532a1_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzEtMS0xLTEtNTEwNDQy_0a0e8fff-4c30-4e61-9a68-ac6ab1bf1bd8">4,291</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if6bd4b0b24b8456cb6cd4d104d561419_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzEtMi0xLTEtNTEwNDQy_f865df6f-49bb-4c07-ac3a-20bb1da5cd5c">4,291</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i017f53a1e6a646d08a58980be1767d2b_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzItMS0xLTEtNTEwNDQy_2387b4c9-4163-4b85-9911-11eb1c39a8ae">7,752</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1e91f0f2e92d46a6aa0239ec78c05c7b_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzItMi0xLTEtNTEwNDQy_e999dfae-78f3-4aca-abad-13a4b410aa9b">6,278</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5989a9b0b81148608abf32bfd74e5026_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzMtMS0xLTEtNTEwNDQy_7a9f7540-1206-4cf3-a593-195b0ac70188">4,386</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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contextRef="iacec7dbf6ea849688bb9fe99aa04ebd1_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzUtMi0xLTEtNTEwNDQy_49a28e48-0e3b-451b-b167-28dae69e61c2">154</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1e54779ab35e46078d8e616b72ca50bf_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzExLTItMS0xLTUxMDQ0Mg_942acdfd-f76d-480b-87b0-49ce87c0bedc">398</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i24d648bca77e408487b623cbc693b03b_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzEyLTItMS0xLTc5MTEzMg_e69bcd90-83ec-43d9-8aa6-72deb8bfa403">288</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9a8fe76c1cf14b1989369485bda2332a_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzEzLTEtMS0xLTc5MTEzMg_5558a187-c5a6-4265-8f6e-7662132e91fa">279</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5462fe46ff694a3b91b9b47280fed6ba_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzEzLTItMS0xLTc5MTEzMg_182a2c0c-0c45-4786-ad78-c3fa2e2d08e7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie461d2e0ab5f493ba7d94f5d0e524da1_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzE0LTEtMS0xLTc5MTEzMg_9d20e442-de35-49bf-b6a3-7d4a2ffd47eb">119</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8cf9da440c514427aced97bb8a2db547_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzE0LTItMS0xLTc5MTEzMg_ebbec8db-2f83-4e5c-8ca6-fb71c86f672e">110</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i56640fd10aed4fbc80c34534a0a8e823_I20221231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzEyLTEtMS0xLTUxMDQ0Mg_27882f5b-b810-477d-a3c3-8387efa47d63">18,471</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c4790485c644e4790481beb687cf0c2_I20211231" decimals="-6" name="ifrs-full:IntangibleAssetsAndGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpmODJhYWI2NTRiYTk0MGViODdmMDQyMmQ5ZGFlMTFiMy90YWJsZXJhbmdlOmY4MmFhYjY1NGJhOTQwZWI4N2YwNDIyZDlkYWUxMWIzXzEyLTItMS0xLTUxMDQ0Mg_7b45beda-8e0b-4abc-bf5f-261f248587e3">16,519</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is tested for impairment at the end of the year using the business plans of the cash-generating units to which the goodwill is assigned, approved by the Board of Directors of Telef&#243;nica. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The business plan covers a <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:BusinessPlanTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEyOTc0_a1ee5e36-2416-41c4-87a4-be7629870cb0">three-year</ix:nonNumeric> period, including the closing year. In order to complete the <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:BusinessPlanCashFlowTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzUxNTA_7a8ad293-57b9-4245-a74f-226dbbf331ac">five years</ix:nonNumeric> of cash flows after the closing year, an additional normalization period is added to the business plans on the operating ratios until the terminal parameters are reached. The consensus' forecasts are used as a reference. For specific cases, extended business plans are used to cover the <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:BusinessPlanCashFlowTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEzMDM1_c250cdc0-7058-422a-9df6-506d55d9e550">five-year</ix:nonNumeric> period of cash flows, when the normalization period does not properly reflect the expected evolution of the business. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The process of preparing the CGUs&#8217; 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main assumptions used in calculating value in use  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CGUs&#8217; 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main variables considered for the most significant CGUs (T. Brazil, T. Spain, and T. Germany), are described below.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of revenues, the plan is in line with the average three-year estimates made by analysts, which include a trend towards stability or improvement.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OIBDA margin and long-term Capital Expenditure (CapEx) ratio</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The values obtained, as described in the previous paragraphs, are compared with the available data of analysts and competitors in the geographic markets where Telef&#243;nica Group operates.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-40</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i32a92188c19c440c8f8dbafe116164e7" continuedAt="ibdec7709f4114f5d9a27f5ba78bc05a1"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Europe, the long-term OIBDA margins <ix:nonNumeric contextRef="ia687bdd116a2446ab6164107616ab3da_D20220101-20221231" name="tef:OIBDAMarginEstimateTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEzMDAy_6f6a5787-bf96-40f7-a42d-d1deca978c4d"><ix:nonNumeric contextRef="idec6783c05de46ef87de4b4172924f93_D20220101-20221231" name="tef:OIBDAMarginEstimateTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEzMDAy_933c5f4a-95b0-47e7-81dd-faa6284b02ac">two-years</ix:nonNumeric></ix:nonNumeric> estimates of Telef&#243;nica Group's analysts are within a range of <ix:nonFraction unitRef="number" contextRef="i52d1f41073ab4f6a9e9f55820e87d69d_D20220101-20231231" decimals="2" name="tef:OperatingIncomeBeforeDepreciationAndAmortizationRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc3NDM_788f36a0-edef-4209-932a-8ba70253af0c">34</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="ibd7768fdc2694fa58f2eac4cc419e1af_D20220101-20231231" decimals="2" name="tef:OperatingIncomeBeforeDepreciationAndAmortizationRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc3NDk_41647d67-44ba-41d8-afbb-ac3e544bdc26">39</ix:nonFraction>% for Spain and <ix:nonFraction unitRef="number" contextRef="ia88687bbc6ef456ea757cce0927613a9_D20220101-20231231" decimals="2" name="tef:OperatingIncomeBeforeDepreciationAndAmortizationRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc3NjY_4d33b993-71a7-4936-9f9f-e5b19a02d073">30</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i84474b5e815c4846ac1921d6cc2bb1e5_D20220101-20231231" decimals="2" name="tef:OperatingIncomeBeforeDepreciationAndAmortizationRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc3NzI_176541eb-83e2-4d9d-9672-859ae7a40d05">33</ix:nonFraction>% for Germany. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the long-term ratio of CapEx over revenues, the valuations performed for the impairment tests for Spain and Germany consider the opinions of Telef&#243;nica Group&#8217;s analysts with regard to investment needs (around <ix:nonFraction unitRef="number" contextRef="ia687bdd116a2446ab6164107616ab3da_D20220101-20221231" decimals="2" name="tef:LongTermCapitalExpendituresRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzgwMDg_17dc0255-d5c0-4d0f-8808-6fc91d3194d3">12</ix:nonFraction>% for Spain and around <ix:nonFraction unitRef="number" contextRef="i41c425494b3342dda7d9aefd419b48ce_D20220101-20221231" decimals="2" name="tef:LongTermCapitalExpendituresRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzgwMzI_1b873cd6-132f-4691-bca7-6f5cc669de9e">14</ix:nonFraction>% for Germany). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As for the long-term OIBDA margin <ix:nonNumeric contextRef="i636c82e0b95548f4968677554e881506_D20220101-20221231" name="tef:OIBDAMarginEstimateTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEzMDQ2_cdf3426d-52ad-49e5-9f4c-6c976655fb92">two-years</ix:nonNumeric> estimates of Telef&#243;nica Group's analysts for the operator in Brazil, it is in a range within <ix:nonFraction unitRef="number" contextRef="iabeeac014df44fc4a75886f111175fe2_D20220101-20231231" decimals="2" name="tef:OperatingIncomeBeforeDepreciationAndAmortizationRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzgyMDk_7cc48cd0-3ff7-4e38-b702-97b8189b7732">41</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i50f1b34c13a14e8d9acf3392dde12f46_D20220101-20231231" decimals="2" name="tef:OperatingIncomeBeforeDepreciationAndAmortizationRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzgyMTU_b8c3af56-0428-4e40-8134-95d5fb02e1e1">46</ix:nonFraction>%. Regarding investments, the operator will invest a percentage over the horizon of the projected plan that is in line with the investment needs foreseen for the development of its business, which on average is around <ix:nonFraction unitRef="number" contextRef="i1bf5a251c84a4c009e71fd05990a608f_D20220101-20221231" decimals="2" name="tef:LongTermCapitalExpendituresRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzgzNTI_86ca6d56-f460-4cb4-83d5-ddbdbd2be396">16</ix:nonFraction>%.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Discount rate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate, applied to discount cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and cost of debt according to the finance structure determined for each CGU. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This rate is calculated using the capital asset pricing model (CAPM), which considers the asset&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant components of WACC are summarized as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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, influenced by central banks interventions. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Equity Risk Premium: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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&#180; returns and the stock market returns, of the country where the company is listed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main underlying data used in these calculations are obtained from independent and renowned external information sources. </span></div><ix:continuation id="id8abae08389645d7bb78f12a86bddec2" continuedAt="i3383be04dcc44ea599d32a8332d3b948"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.163%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.297%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.446%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Discount rate in local currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3f00a8a3feab480985cb1d838ff77861_I20221231" decimals="3" name="tef:DiscountRateAppliedToCashFlowProjectionsBeforeTax" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzItMS0xLTEtNTEwNDQy_4b50c61f-7364-4775-9bf3-ec96d1dcb3a9">9.0</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3f00a8a3feab480985cb1d838ff77861_I20221231" decimals="3" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzItMi0xLTEtNTEwNDQy_eb4399c0-3bd3-41ce-bd9b-1e9b16ed1167">6.9</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7a9df4d0fbb24c7aaa3261b558999ce9_I20211231" decimals="3" name="tef:DiscountRateAppliedToCashFlowProjectionsBeforeTax" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzItMy0xLTEtNTEwNDQy_95a585b1-fd0d-4fa6-9e92-b3bc7086a744">8.5</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7a9df4d0fbb24c7aaa3261b558999ce9_I20211231" decimals="3" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzItNC0xLTEtNTEwNDQy_37e91acb-9d32-443b-ad16-5c22ce4a1fb0">6.5</ix:nonFraction>%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id19a63fde17e4fb5852988f999835648_I20221231" decimals="3" name="tef:DiscountRateAppliedToCashFlowProjectionsBeforeTax" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzMtMS0xLTEtNTEwNDQy_6d64f706-f124-4676-b302-fa990fcb9df1">16.4</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id19a63fde17e4fb5852988f999835648_I20221231" decimals="3" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzMtMi0xLTEtNTEwNDQy_a707cc9a-65c5-4d91-9bb6-4dfe97961c50">12.6</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0dcdbb38dcff4ceeb2de0c186d0a0e42_I20211231" decimals="3" name="tef:DiscountRateAppliedToCashFlowProjectionsBeforeTax" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzMtMy0xLTEtNTEwNDQy_81c57063-d240-416f-9cef-7cdb3ffd30cf">15.2</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0dcdbb38dcff4ceeb2de0c186d0a0e42_I20211231" decimals="3" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzMtNC0xLTEtNTEwNDQy_c7b918ac-a26d-4d08-95f8-683e1bc1ef2c">12.0</ix:nonFraction>%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7388e14991294d4093cab9c5c314cb37_I20221231" decimals="3" name="tef:DiscountRateAppliedToCashFlowProjectionsBeforeTax" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzUtMS0xLTEtNTEwNDQy_36b680c0-0cce-4224-8e17-dc81520cc4ec">8.0</ix:nonFraction>%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7388e14991294d4093cab9c5c314cb37_I20221231" decimals="3" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzUtMi0xLTEtNTEwNDQy_12f039a8-78d8-4099-918a-537871dacb90">5.7</ix:nonFraction>%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i30693d3723cf4ae498dbbe601df6e50e_I20211231" decimals="3" name="tef:DiscountRateAppliedToCashFlowProjectionsBeforeTax" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzUtMy0xLTEtNTEwNDQy_6758c2ea-92c6-492e-a055-231ec157cf26">7.2</ix:nonFraction>%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i30693d3723cf4ae498dbbe601df6e50e_I20211231" decimals="3" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo5MmJkZjRkOGQ0NWI0ZDNmYTFhNjBiZmMzM2QwZGQ1OC90YWJsZXJhbmdlOjkyYmRmNGQ4ZDQ1YjRkM2ZhMWE2MGJmYzMzZDBkZDU4XzUtNC0xLTEtNTEwNDQy_42d3da45-7d46-4e83-855d-3de57f0f490f">5.2</ix:nonFraction>%</span></td></tr></table></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Perpetuity growth rate</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-41</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ibdec7709f4114f5d9a27f5ba78bc05a1" continuedAt="i6e594e995d8346238cb98a8308ed46ac"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">GDP growth of each country and growth data from external sources, adjusting any particular case with specific characteristics related to the business evolution. </span></div><ix:continuation id="i3383be04dcc44ea599d32a8332d3b948"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The perpetuity growth rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:45.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.839%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.841%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perpetuity growth rate<br/>in local currency&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3f00a8a3feab480985cb1d838ff77861_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTplNDk0MmE4ZGFhZDg0OTk1YWYwZGQ1YjUwNDViZThlMi90YWJsZXJhbmdlOmU0OTQyYThkYWFkODQ5OTVhZjBkZDViNTA0NWJlOGUyXzEtMS0xLTEtNTEwNDQy_4f8b2953-a32d-4bd4-ab5f-deccaf3642c0">0.8</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7a9df4d0fbb24c7aaa3261b558999ce9_I20211231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTplNDk0MmE4ZGFhZDg0OTk1YWYwZGQ1YjUwNDViZThlMi90YWJsZXJhbmdlOmU0OTQyYThkYWFkODQ5OTVhZjBkZDViNTA0NWJlOGUyXzEtMi0xLTEtNTEwNDQy_d4e1b4e2-9588-4c93-803b-fd30fc01a6d4">0.8</ix:nonFraction>%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id19a63fde17e4fb5852988f999835648_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTplNDk0MmE4ZGFhZDg0OTk1YWYwZGQ1YjUwNDViZThlMi90YWJsZXJhbmdlOmU0OTQyYThkYWFkODQ5OTVhZjBkZDViNTA0NWJlOGUyXzItMS0xLTEtNTEwNDQy_74441268-caf5-422e-a03a-e8b35bfece94">4.5</ix:nonFraction>%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0dcdbb38dcff4ceeb2de0c186d0a0e42_I20211231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTplNDk0MmE4ZGFhZDg0OTk1YWYwZGQ1YjUwNDViZThlMi90YWJsZXJhbmdlOmU0OTQyYThkYWFkODQ5OTVhZjBkZDViNTA0NWJlOGUyXzItMi0xLTEtNTEwNDQy_d7d1d141-48c2-4e0e-876c-cf2cb59654ff">4.5</ix:nonFraction>%</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7388e14991294d4093cab9c5c314cb37_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTplNDk0MmE4ZGFhZDg0OTk1YWYwZGQ1YjUwNDViZThlMi90YWJsZXJhbmdlOmU0OTQyYThkYWFkODQ5OTVhZjBkZDViNTA0NWJlOGUyXzQtMS0xLTEtNTEwNDQy_552bf77c-5d67-46ee-a49e-c4b305e3bf6c">1.0</ix:nonFraction>%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i30693d3723cf4ae498dbbe601df6e50e_I20211231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTplNDk0MmE4ZGFhZDg0OTk1YWYwZGQ1YjUwNDViZThlMi90YWJsZXJhbmdlOmU0OTQyYThkYWFkODQ5OTVhZjBkZDViNTA0NWJlOGUyXzQtMi0xLTEtNTEwNDQy_e61625b4-2dfc-4cc2-9dcb-128646bbb6c7">1.1</ix:nonFraction>%</span></td></tr></table></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The perpetuity growth rates for 2022 remained stable comparing to 2021. In Brazil, the perpetuity growth rate is within the range of the estimations of the analysts, it is consistent with the Brazilian Central Bank&#8217;s medium-term inflation target (in a range between <ix:nonFraction unitRef="number" contextRef="i662dc4bf184a47f3acee9b25a325ac61_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzExNzU1_d4df36f0-c7c2-4107-b0ba-3be559d732e6">1.5</ix:nonFraction>% and <ix:nonFraction unitRef="number" contextRef="if870467c1c954245916abc52ee5942e8_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzExNzYy_eb6dfbcc-55ba-42a9-8c1e-88c1c204b1a7">4.5</ix:nonFraction>%) and it is below the nominal GDP growth rate of around <ix:nonFraction unitRef="number" contextRef="idc44a8fa317c440588ab91bae7be5597_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzExODQ2_7c84a77a-0085-4e15-81cb-df814ba96046">5.5</ix:nonFraction>%, according to market expectations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sensitivity to changes in assumptions </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfAssumptionsUsedInSensitivityAnalysisOfGoodwillImpairmentTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEzMDg1_7119c295-831f-48e3-97b4-be0b1fe679e9" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test.  For the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:53.139%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.689%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:12.496%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.276%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in key assumptions,<br/>In percentage points</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial variables</span></td><td colspan="3" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzMtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246OTE3MTM5OTZmZDE2NDIwZDk4NGMwOWIzMDY4OWM5N2ZfOA_e40ae61e-5833-4627-99f2-2019d3bebb43">0.25</ix:nonFraction></ix:nonFraction></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-<ix:nonFraction unitRef="number" contextRef="if38d11c521d34a00953e7c511e56c07d_I20211231" decimals="3" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" 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colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA Margin</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-<ix:nonFraction unitRef="number" contextRef="id16c6bea33674efe802770427062413e_I20211231" decimals="3" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzUtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246MThmZGQ3ZDUxZDdiNDI1NTkzOGUyY2JlZjcwNjljOGJfOA_1e031d0c-6a50-4586-a832-9c124df8e6d6">1.5</ix:nonFraction></ix:nonFraction></span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-<ix:nonFraction unitRef="number" contextRef="icdbf9bb6e29f4bb4a5b0053eb50022d4_I20211231" decimals="2" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzUtNC0xLTEtNTEwNDQyL3RleHRyZWdpb246YTFhODk2NTE3ZmYyNDc4MTg2NTlkMGYzNTU1ZjBmZjBfOA_3144afef-5652-4fcd-9c1a-98a7f6aabe9b"><ix:nonFraction unitRef="number" contextRef="ifed610013eec4d6881ef56cf7ba736e0_I20211231" decimals="2" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzUtNC0xLTEtNTEwNDQyL3RleHRyZWdpb246YTFhODk2NTE3ZmYyNDc4MTg2NTlkMGYzNTU1ZjBmZjBfOA_77e58bf6-c54f-4c52-b444-77104ca1ee1c">2</ix:nonFraction></ix:nonFraction></span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of CapEx/Revenues</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-<ix:nonFraction unitRef="number" contextRef="icc30b3c22785494eb6ea3a31ddb0cdcf_I20211231" decimals="4" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzYtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246NTdlZjhlMTJlNjFkNDhiMWE0ODllYTIxODdhYTM4MGRfOA_40263a74-cde9-4e1b-a190-51a697217c1b"><ix:nonFraction unitRef="number" contextRef="i66abeaa9e8944b18bdbc0d6a0e495644_I20211231" decimals="4" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzYtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246NTdlZjhlMTJlNjFkNDhiMWE0ODllYTIxODdhYTM4MGRfOA_e0ab8e23-709c-4cec-9a04-5eadab22cc93">0.75</ix:nonFraction></ix:nonFraction></span></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-<ix:nonFraction unitRef="number" contextRef="i2b8b3e417a654165930da57a7d0955fb_I20211231" decimals="4" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzYtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246NmNkY2QzNzc0MWQyNDI4ODhkNTA3ZDY1NDNlZjdkZjBfOA_5eb96409-6d9b-41fe-87a3-5f409f68aabb"><ix:nonFraction unitRef="number" contextRef="i6ec2c48c594e43f8817600f5212db884_I20211231" decimals="4" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzYtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246NmNkY2QzNzc0MWQyNDI4ODhkNTA3ZDY1NDNlZjdkZjBfOA_d36b099b-4b3b-4d9c-83e3-9d8860bf42c2">0.75</ix:nonFraction></ix:nonFraction></span></div></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-<ix:nonFraction unitRef="number" contextRef="i670e5b857e6049f1ac1e82d36de4c131_I20211231" decimals="3" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzYtNC0xLTEtNTEwNDQyL3RleHRyZWdpb246NmU3MGYzMjU0YTY3NDI2OWJkZWZkY2MwYjYwMDU2MjRfOA_4382c957-0f54-4ab1-bec9-6b3779fffb02"><ix:nonFraction unitRef="number" contextRef="i0427c6b6281e4a888df3a34cb47860f2_I20211231" decimals="3" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTpiOWI0MjcwMDg0OWY0ZjIzODQ0N2Y3ZTcxZGQ2ZjVlMS90YWJsZXJhbmdlOmI5YjQyNzAwODQ5ZjRmMjM4NDQ3ZjdlNzFkZDZmNWUxXzYtNC0xLTEtNTEwNDQyL3RleHRyZWdpb246NmU3MGYzMjU0YTY3NDI2OWJkZWZkY2MwYjYwMDU2MjRfOA_5b352539-9c12-4a0c-812e-3311f61c61b8">1</ix:nonFraction></ix:nonFraction></span></div></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity analysis revealed a gap between the recoverable value and carrying amount for the main CGUs at December 31, 2022.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As indicated above, in 2021 an impairment loss of <ix:nonFraction unitRef="eur" contextRef="i7cc2574db46b49d0816fafb539b28a9c_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUxMzg4_7a276148-aae3-4023-9e7d-beb79747acfb">393</ix:nonFraction> million euros was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;. The Group has performed the annual impairment test at the end of 2022. As a result of the analysis performed, no additional impairment has been recognized. Regarding the sensitivity of the calculation of the value in use of Telef&#243;nica del Per&#250; to reasonable variations in the key assumptions used, an increase of <ix:nonFraction unitRef="number" contextRef="i802c2813511f4ea99c21d59163311889_I20221231" decimals="4" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEwOTk1MTE2NTc4MDA_310f9522-bdc1-49ee-b3a7-aef0c8dfbaa8">100</ix:nonFraction> basis points, in the WACC of <ix:nonFraction unitRef="number" contextRef="i9a383cab3bfd408db6cc9ecdecb086ec_D20220101-20221231" decimals="3" name="ifrs-full:CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDQ2_576d6c70-f19d-4ac9-b187-8c582e51aa80">10.4</ix:nonFraction>%, would result in an impairment of goodwill in the amount of <ix:nonFraction unitRef="eur" contextRef="i04a09e250c524a7a8b73c2fe1a9b467b_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU0NzU3_9b329fe1-1b8c-498d-949a-655a67441032">160</ix:nonFraction> million euros, while a decrease of <ix:nonFraction unitRef="number" contextRef="i32890dbc3dcd4b3da459c1e44183094c_I20221231" decimals="4" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEwOTk1MTE2NTc4MTI_63eabdc4-2e0e-4e55-ada7-5c7d3a8aaa7e">25</ix:nonFraction> basis points in the perpetuity growth rate of <ix:nonFraction unitRef="number" contextRef="id6d26ec698584bbc8fbfe06d9b7e5157_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDUz_2f56b76b-d139-4f2f-a20b-505578b9e144">2.4</ix:nonFraction>% would have a negative impact of <ix:nonFraction unitRef="eur" contextRef="i480fbaf075a14480adf85ffbd49855ac_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU0ODMx_a3f534b7-4d0d-4e97-9090-4794f34dbf01">11</ix:nonFraction> million euros. In turn, a decrease in the OIBDA margin by approximately <ix:nonFraction unitRef="number" contextRef="i5383de762e3948618db426fd16368a39_I20221231" decimals="3" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEwOTk1MTE2NTc4MTM_9a3a6cab-d6fa-4e23-8301-2fe372a8615e">1</ix:nonFraction> percentage point would result in an impairment of goodwill of <ix:nonFraction unitRef="eur" contextRef="i5dbda32aec2c40b080b036e1fcff51ae_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU0OTE2_cb3f2981-e0a7-4d4b-8961-6050700e6411">95</ix:nonFraction> million euros, and an increase in the investment ratio by <ix:nonFraction unitRef="number" contextRef="icf68b604d01a46a49afe5105b03f224e_I20221231" decimals="3" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEwOTk1MTE2NTc4MTQ_13aea5e3-367c-491d-b1a4-0e8d19ec4829">0.5</ix:nonFraction> percentage points would have a negative impact on the carrying amount of goodwill of approximately <ix:nonFraction unitRef="eur" contextRef="ie71bda6af40840a48348478d869ab61b_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU1MDgz_596fdf1e-e7bc-41fe-89c8-b9afa2ccebdf">60</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Ecuador, the uncertainty of the political situation has raised the country risk indicator, with its consequent impact on financial costs and the discount rate used to estimate the recoverable value of the investment. Therefore, in the sensitivity of the calculation of the value in use of Telef&#243;nica Ecuador to reasonable variations in the key assumptions, an increase of around <ix:nonFraction unitRef="number" contextRef="i0a18c252a12146d68e2560dd82a80064_I20221231" decimals="4" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjM5NzA2_c5771378-c00e-433e-a6d9-627e586e0a1e">150</ix:nonFraction> basis points in the WACC, which is around <ix:nonFraction unitRef="number" contextRef="i7c2dba34bb4c4695a3b278e69d5f7622_D20220101-20221231" decimals="3" name="ifrs-full:CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjM5NzAx_1386f962-f91c-4f92-b078-045e7e9adf7e">16</ix:nonFraction>%, would result in an impairment of goodwill of approximately <ix:nonFraction unitRef="eur" contextRef="i2a8031309f6d4179ae1b4ece1371ffb4_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU1Mjc1_4e6ef0aa-6f92-44e4-ac45-7d46b917897b">30</ix:nonFraction> million euros, while a decrease of around <ix:nonFraction unitRef="number" contextRef="ibcd81d8c92e24e7e865444d5e0c5350b_I20221231" decimals="4" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjM5Njkz_4c1c8044-4c9f-4c06-9d55-fc80f8a42587">25</ix:nonFraction> basis points in the perpetual growth rate of <ix:nonFraction unitRef="number" contextRef="i98420619d9e44a46a4f98405731effaf_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjM5Njk3_68eac851-3b75-4b43-9d46-05ca41846218">2</ix:nonFraction>% would have no negative impact on the carrying value of goodwill. On the operating assumptions side, a <ix:nonFraction unitRef="number" contextRef="i2b447117436041649442d33768702716_I20221231" decimals="4" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjM5Njg4_073f69fc-b57d-4987-9e16-94b897caa6d5">1.75</ix:nonFraction> percentage point decrease in the OIBDA margin would result in an impairment of goodwill of approximately <ix:nonFraction unitRef="eur" contextRef="ide2d730ebd8d4c76a9ddd4b2832de6ef_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU1NTE1_ea89fdbb-a768-483d-beef-68270ac496ab">12</ix:nonFraction> million euros, and a <ix:nonFraction unitRef="number" contextRef="i317bcccfb0d3458e84b6f9c9ae85d2da_I20221231" decimals="3" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjM5Njgz_3d404f5e-fae4-4581-b8ea-42a5642045cc">0.9</ix:nonFraction> percentage points increase in the investment ratio would result in a negative impact on the carrying amount of goodwill of approximately <ix:nonFraction unitRef="eur" contextRef="ib6cc20743ea04620bfa285f793391e7d_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU1NjY3_73bb618b-2160-4297-ba1e-4d9a6f2b936b">3</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Chile, the economy growth slowed down in 2022 due to various factors that had a negative impact on family income. These include the withdrawal of fiscal measures, a slowing labor market and high inflation that was above <ix:nonFraction unitRef="number" contextRef="i5d2d68e7affa45cda1736208884d8956_D20220101-20221231" decimals="2" name="tef:InflationRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDY2_f70d68ed-53c3-43d9-95a9-2e9d5943da05">10</ix:nonFraction>% throughout the year, and which forced the Central Bank of Chile to raise interest rates. On the other hand, the constitutional reform process, later revoked and reactivated, has added uncertainty, harming the country's short- </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-42</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i6e594e995d8346238cb98a8308ed46ac">and medium-term growth expectations. In this context, the sharp rise in interest rates has increased the discount rate to <ix:nonFraction unitRef="number" contextRef="i4a36cb300cc44d61bb3051465cda8d86_I20221231" decimals="3" name="ifrs-full:DescriptionOfDiscountRatesAppliedToCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMTI5_bfd2bfc7-8637-4759-bba8-c1f79483d3d3">9.4</ix:nonFraction>%. Therefore, in the sensitivity of the calculation of the value in use of Telef&#243;nica de Chile to reasonable variations in the key assumptions, an increase of around <ix:nonFraction unitRef="number" contextRef="i1767686ae78e4a60a1cb98ac50d39116_I20221231" decimals="4" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDcx_7415abdb-eb72-4121-af48-5f9393aadefa">50</ix:nonFraction> points basis points in the WACC would result in an impairment of goodwill of <ix:nonFraction unitRef="eur" contextRef="if097956c24364b42a2160a5b7483cc7e_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU1ODQ5_5ceaa440-2a83-4685-b490-3968a4ccc040">60</ix:nonFraction> million euros, while a decrease of around <ix:nonFraction unitRef="number" contextRef="i211de7dd49044df49accd67f7095dbd4_I20221231" decimals="4" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDc1_f7f632dd-47c8-4db6-af42-d060d827902d">25</ix:nonFraction> basis points in the perpetuity growth rate (<ix:nonFraction unitRef="number" contextRef="i4a36cb300cc44d61bb3051465cda8d86_I20221231" decimals="3" name="ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU1ODg1_8d9e5813-4cf5-4553-8e71-ff3885ebf83d">2.8</ix:nonFraction>%) would not have a negative impact on the carrying amount. On the business side, a <ix:nonFraction unitRef="number" contextRef="i0f724d0d26864f498f4e7c1974401174_I20221231" decimals="4" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDc5_5961e699-bc65-4fe2-97da-bf53b2649202">1.25</ix:nonFraction> percentage point decrease in the OIBDA margin would result in an impairment of goodwill of <ix:nonFraction unitRef="eur" contextRef="i71b43c231a9f44aa96cfd87be7bb5865_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU2MTkx_8b98a2ef-06ca-4156-aa56-433b7ca2b994">116</ix:nonFraction> million euros and an increase of <ix:nonFraction unitRef="number" contextRef="i828ab6cf50674bfabf86bbb748b60f75_I20221231" decimals="4" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDg5_1155d4d3-db38-4b4c-ad61-10b6bc1915ac">0.63</ix:nonFraction> percentage points in the investment ratio would have a negative impact of approximately <ix:nonFraction unitRef="eur" contextRef="i72bc6f6472a7426fa31f6b492a870693_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU2MTg3_b851607d-151e-442d-aa61-b115225ff3cd">60</ix:nonFraction> million euros on the carrying amount of goodwill.</ix:continuation></span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div><span><br/></span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.492%"><div><span><br/></span></div></div></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-43</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_298"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 8. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzUxMTg_67e804f2-562a-46f8-8802-b2a215440d6e" continuedAt="i8f0094ee7de644999dbb494580584e89" escape="true">Property, plant and equipment</ix:nonNumeric></span></div><ix:continuation id="i8f0094ee7de644999dbb494580584e89" continuedAt="i14b2043dc5b44bcc8a59cf71ba8add60"><ix:continuation id="i16d3214dac0c4e35b69c7b07bfd2a566" continuedAt="if4fc75bdbafa48428f319b73c16b6f71"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition and movements in 2022 and 2021 of the items comprising net "Property, plant and equipment" were as follows:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.250%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.087%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:7.823%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="i132111ac475e44afb282c6d339f88e9b_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzMtMS0xLTEtNTEwNDQy_4aa71311-636d-4c3f-88f7-67dcb63082b4">17,752</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzQtMTItMS0xLTUxMDQ0Mg_81824ab9-cab8-4e06-b4ad-efb528399d48">576</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7f3938054094b3c81c2a649256b4214_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtMS0xLTEtNTEwNDQy_21522a1c-6f89-4cbe-b499-95ae21d07265">1,761</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if9357a0fb0aa485997b88bf0bb2c2f0b_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtMy0xLTEtNTEwNDQy_40e84abd-b6b8-4d7d-a2d6-aba242ed4a1f">2,867</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if9357a0fb0aa485997b88bf0bb2c2f0b_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationPropertyPlantAndEquipment" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtNC0xLTEtNTEwNDQy_5ba16317-d0c3-4f75-8929-12a5cc8a5168">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if9357a0fb0aa485997b88bf0bb2c2f0b_D20220101-20221231" decimals="-6" name="ifrs-full:DisposalsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtNS0xLTEtNTEwNDQy_d45801df-6cf5-467d-805b-935e950165c6">12</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if9357a0fb0aa485997b88bf0bb2c2f0b_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtNi0xLTEtNTEwNDQy_fe986d19-31a3-4dac-86ab-efe54a72f099">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if9357a0fb0aa485997b88bf0bb2c2f0b_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtNy0xLTEtNTEwNDQy_0aa1aeb2-a784-4f55-abd2-fcb04cb78344">2,353</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if9357a0fb0aa485997b88bf0bb2c2f0b_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtOC0xLTEtNTEwNDQy_3b4aca0f-d2c9-48b3-92f8-653764ce3d13">71</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if9357a0fb0aa485997b88bf0bb2c2f0b_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtOS0xLTEtNTEwNDQy_4db5fd10-77bc-4be6-a554-fb6a8d8d91ea">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ica7af13d72f64fc28493efd0812d1e7b_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzUtMTItMS0xLTUxMDQ0Mg_6f8756af-2e9e-45f3-a0f9-8b4027a1903f">2,332</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzYtMS0xLTEtNTEwNDQy_41b970b7-256e-4161-af41-17267fd1cd23">22,725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzYtMy0xLTEtNTEwNDQy_b3368b48-d3fb-498c-9490-8fe63ba7d4bb">4,289</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzYtNC0xLTEtNTEwNDQy_a40d9693-1ce1-440f-8094-35f33577ec1e">4,133</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DisposalsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzYtNS0xLTEtNTEwNDQy_7dfa4353-9494-4581-9fdd-004254a54df7">63</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt 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style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.771%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.186%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.116%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzUtNC0xLTEtNTEwNDQy_630c05aa-8ca3-4d26-9431-7870894623eb">18</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4a81377cad8042188ac2410a37966a7d_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzUtNS0xLTEtNTEwNDQy_c427745c-c24e-49f6-b613-e8dd707e6df2">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4a81377cad8042188ac2410a37966a7d_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzUtNi0xLTEtNTEwNDQy_3b253eac-f499-4870-8048-11c0f4219308">2,393</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4a81377cad8042188ac2410a37966a7d_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzUtNy0xLTEtNTEwNDQy_5a0e3552-aecb-4061-a39f-644ac7c90396">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4a81377cad8042188ac2410a37966a7d_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzUtOC0xLTEtNTEwNDQy_26e8363e-e25b-4b1f-bb4c-46b54f2e4170">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4a81377cad8042188ac2410a37966a7d_D20210101-20211231" decimals="-6" name="ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzUtOS0xLTEtNTEwNDQy_9064a60f-8bdb-447b-a587-29b87e3a5d46">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7f3938054094b3c81c2a649256b4214_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzUtMTAtMS0xLTUxMDQ0Mg_f4b0004c-e62f-4ed1-a60d-b9d088c08093">1,761</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtMS0xLTEtNTEwNDQy_5aee9e6c-5669-4eef-9881-810fbd27d930">23,769</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtMi0xLTEtNTEwNDQy_2eeb4996-ddd2-4647-9252-7e50f359fc21">3,880</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DepreciationPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtMy0xLTEtNTEwNDQy_ad64b26f-eae8-4d8e-b336-852cd1f35eb6">4,360</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DisposalsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtNC0xLTEtNTEwNDQy_ff1a5ff8-54c6-4d51-90fe-52b7b49008b1">66</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtNS0xLTEtNTEwNDQy_2ba20cdc-e993-44d3-95c7-705ad18b911d">5</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtNi0xLTEtNTEwNDQy_537b99ac-db78-48a0-97e7-72ebc8125056">416</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtNy0xLTEtNTEwNDQy_11fc2a94-5bd4-44ae-83d8-f0d5edb894c4">291</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtOC0xLTEtNTEwNDQy_fb2027d7-86cf-447c-9c67-f14e5b5a4e23">15</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtOS0xLTEtNTEwNDQy_b1a94cb7-4021-48ea-ae0e-d66adaa23142">383</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtMTAtMS0xLTUxMDQ0Mg_a5768973-292a-4119-a33e-d6696341db99">22,725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Total additions of property, plant and equipment in 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Additionspropertyplantandequipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQ2Mg_bd14ba0f-a826-412b-a61e-0de0af3475fc">4,286</ix:nonFraction> million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div></ix:continuation><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Spain's investments in property plant and equipment in 2022 and 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="ia687bdd116a2446ab6164107616ab3da_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzY4Mg_1bc68e36-cd04-4e4b-baf0-13c0e5d3d263">1,288</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i144ffb815b844772a12925583929c11c_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzY4OQ_42b0bd18-c603-4471-b3b8-3a9dcaf07364">1,155</ix:nonFraction> million euros, respectively. The rapid rollout of fiber continues, with more than <ix:nonFraction unitRef="premise" contextRef="ia687bdd116a2446ab6164107616ab3da_D20220101-20221231" decimals="-6" name="tef:NumberOfPremisesCoveredByFiberOptic" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzc3Mg_090cfeaa-26a3-4862-a7fb-91658a6e7e7b">28</ix:nonFraction> million premises passed in Telef&#243;nica Spain by the end of 2022, as well as the development of the 5G network reaching, <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="tef:A5GNetworkPopulationCoveragePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzg4OQ_7fe849bd-26e5-476c-ae1a-a0defc9871e0">85</ix:nonFraction>% population coverage by the end of the year. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Germany's investments in property, plant and equipment in 2022 and 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="idec6783c05de46ef87de4b4172924f93_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE0Mjk_5af6f88c-5628-4505-b1a9-f70e702e25ac">854</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i2f5195edc5a44f2ea0cb3e38a72c181a_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE0MzY_32066764-49e1-4136-9853-fcf9aa1a16ee">913</ix:nonFraction> million euros, respectively. The strong progress in 5G rollout and network modernization continues. 5G population coverage stood at approximately <ix:nonFraction unitRef="number" contextRef="idec6783c05de46ef87de4b4172924f93_D20220101-20221231" decimals="2" name="tef:PercentageOfPopulationCoveredIn5GNetwork" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE2MjM_6472ca9e-0740-4d02-95ad-f86b37afaedd">80</ix:nonFraction>% at the end of 2022.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Brazil's investments in property, plant and equipment in 2022 and 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="i636c82e0b95548f4968677554e881506_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE3MzM_ac97b8d3-1cc3-4411-a83f-f9c1985d3f36">1,277</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i71aed1eb31a14df1bc334d36cc1b45e3_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE3NDA_25d4499c-5d28-4b86-9e8c-9f3358af41d3">1,049</ix:nonFraction> million euros, respectively. The investments were mainly dedicated to the expansion of the coverage and capacity of the 4G mobile networks, with a coverage of <ix:nonFraction unitRef="number" contextRef="i636c82e0b95548f4968677554e881506_D20220101-20221231" decimals="2" name="tef:PercentageOfPopulationCoveredIn4GNetwork" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE5MDA_29a1cb02-ab9f-4085-93e8-3c5d637fb16a">96</ix:nonFraction>% of the population, and to the improvement of the quality of the network and the expansion of the FTTH network in the fixed business, with more than <ix:nonFraction unitRef="premise" contextRef="i636c82e0b95548f4968677554e881506_D20220101-20221231" decimals="-5" name="tef:NumberOfPremisesCoveredByFTTHNetwork" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzIwMTE_b8f19093-d6e9-4f43-8aab-0246a3c6dbc4">23.3</ix:nonFraction>&#160;million premises passed. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Hispam's investments in property, plant and equipment in 2022 and 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="ica2c57a19eb042fcb1fddebfdac696fd_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzIxMjM_55b1b420-4afd-49de-898e-4b4d179359db">732</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i715f298c63824323bc54de97a01fad0b_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzIxMzA_3e0b87b8-d911-4995-ab65-a4d77de52e00">680</ix:nonFraction> million euros, respectively. Investments continued to focus on the improvement of the mobile networks (with the expansion of the coverage and capacity reinforcement), as well as on the deployment of its own fixed network. Efficient management of available resources and optimization of CapEx are the main management levers in the region, with a focus on simplification, digitalization of processes and the search for synergies through the promotion of regional initiatives.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica United Kingdom's investments in property, plant and equipment in 2021, up to the completion of the transaction (see Note 2), amounted to <ix:nonFraction unitRef="eur" contextRef="id88ae4c2625d4d9ea74069ce6c9dd94b_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwOTI_cc93b750-30e4-4b99-a737-59f0f2d27d9d">366</ix:nonFraction> million euros. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Impairments" in 2022 includes an impairment loss related to assets of Telef&#243;nica Argentina, amounting to <ix:nonFraction unitRef="eur" contextRef="ic6e177a9e07341acbc66e1ebc3b74f7b_D20220101-20221231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE2NDkyNjc0NTM5MzA_7ec60812-dfa1-492a-8c03-1d3ee367fab2">56</ix:nonFraction> million euros.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-44</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i14b2043dc5b44bcc8a59cf71ba8add60"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2022 mainly correspond to the acquisition of property, plant and equipment of Oi, the Incremental Group and the BE-terna Group amounting to <ix:nonFraction unitRef="eur" contextRef="i4421a289a43c4af98b9cbc204cd74c74_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwNzc_38390e9d-425a-46ee-9b8c-296bc5bf28ed">29</ix:nonFraction>, <ix:nonFraction unitRef="eur" contextRef="i900e88a9cc474f57a56fdc83ce179f7b_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwODE_88ea9925-ab3e-4263-9874-d8cacef721f4">1</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i95666ca12ee949c5ae662dcae046ad80_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwODU_1e9bb8f4-478e-4e77-a36c-bd24b962a779">6</ix:nonFraction> million euros (see Note 5), respectively.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2021 mainly corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5) amounted to <ix:nonFraction unitRef="eur" contextRef="ie8ea00d2594f47929fb9c8dd8f30fb25_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwNjg_e9637f05-9bd7-4927-bda7-32045deb9fef">15</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, there was an increase in the depreciation of property, plant and equipment amounting to <ix:nonFraction unitRef="eur" contextRef="i369581646afb4f8782b63e55835ce8cb_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseInDepreciationPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzI1Njk_27ad9fdb-991e-4caf-8a85-2b505fcb4a14">8</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i0046f2b3d1bc492293cca7b82cb23a50_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseInDepreciationPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzI1ODc_b3477bc7-3063-476b-9d52-111fed913109">47</ix:nonFraction> million euros in 2021) due to the reduction in the useful lives of certain assets of Telef&#243;nica M&#233;xico as a result of the transformation of the operating model announced in November 2019.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Transfers and others" in 2021 included the reclassifications of property, plant and equipment of Telef&#243;nica El Salvador and fiber optic assets of Telef&#243;nica Colombia amounted to <ix:nonFraction unitRef="eur" contextRef="id88ae4c2625d4d9ea74069ce6c9dd94b_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzM0NDU_9db277d6-896e-4f73-ad0d-0abc1f439f47">70</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i0590d61d5feb427598ae3ba9c52c9aa5_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzM0NTI_b53fb79d-0337-4c56-8a22-9529d2bccc15">53</ix:nonFraction> million euros respectively, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Business sale&#8221; in 2021 mainly corresponded to the sales of InfraCo, SpA and the second phase of the sale of towers by Telefonica Germany (see Note 2) amounted to <ix:nonFraction unitRef="eur" contextRef="i6162a5dc4c794d328fb279d7e4521f98_D20210101-20211231" decimals="-6" name="ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzM5MTM_b308f258-5238-4044-9a09-111f894e79ea">158</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i9f478c315f5540df876f3c580fa085ae_D20210101-20211231" decimals="-6" name="ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzM5MjA_f8a3a0ab-d032-461f-b468-114a55726dbb">126</ix:nonFraction> million euros, respectively, and the assets associated to Fibrasil following the Caisse de d&#233;p&#244;t et placement du Qu&#233;bec (CDPQ) agreement and the sale of <ix:nonFraction unitRef="center" contextRef="i54410486fc474ebebec122bbc6357d34_I20211231" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQwNzY_cb82399c-c38e-4502-803f-2ca332fd3b69">two</ix:nonFraction> data centers in Spain after the agreement with Nabiax (see Note 10) for a total amount of <ix:nonFraction unitRef="eur" contextRef="ibb225c4437c541a19656132b54c3bf21_D20210101-20211231" decimals="-6" name="ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQxNjg_312396b0-14c0-489c-b6db-85fe9bb940d7">36</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i47387fcaec0a4c7da6837de0e935e98f_D20210101-20211231" decimals="-6" name="ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQxNzU_0d784073-667b-4301-8799-3ebeadea14d4">63</ix:nonFraction> million euros, respectively.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The effect of translating into euros of property, plant and equipment of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a), is shown in the column "Translation differences and hyperinflation adjustments".</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><ix:continuation id="if4fc75bdbafa48428f319b73c16b6f71"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December&#160;31, 2022 and 2021 were as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:34.876%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.909%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i53fcbe59a7da443797b36da2026b7533_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzItMS0xLTEtNTEwNDQy_f7d464f5-5c9a-441d-ba84-d112958a531b">9,097</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="i1351d9b805f3494391c49dd3661ee166_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzQtNC0xLTEtNTEwNDQy_cd586124-5021-457e-9563-6c4150978f95">576</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia2db83cde8474f6185e7259c03ebae5e_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzUtMi0xLTEtNTEwNDQy_39e98f44-7cc6-4cac-9d71-7fe625b3c2cc">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id2420a31566c4dd4ad0e3c33e16b48dd_I20221231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzUtMy0xLTEtNTEwNDQy_9f6e8554-cf74-4d56-b829-de351ada0847">11</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ica7af13d72f64fc28493efd0812d1e7b_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzUtNC0xLTEtNTEwNDQy_14b964d3-e5ff-43ac-9a1d-423e5452459b">2,332</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i43dc0f53949847f5ab77a28b645c7f88_I20221231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzYtMi0xLTEtNTEwNDQy_8c27f3f3-5102-4dc1-8e4d-a47f8882c522">83,683</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3050be5116e34553be10d44c59cbc776_I20221231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzYtMy0xLTEtNTEwNDQy_0767423b-2e30-4490-bd82-5309afa05829">519</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpjYjA4OTQwNTYxMWE0Nzg4YTMyNTQ0YjE5MzU2NDBhNS90YWJsZXJhbmdlOmNiMDg5NDA1NjExYTQ3ODhhMzI1NDRiMTkzNTY0MGE1XzYtNC0xLTEtNTEwNDQy_c601adf8-07e4-405d-851d-c8bc8fbdc490">23,714</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:34.876%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.909%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie2f31f7557314fa2a25d7c9c92b19d33_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzItMS0xLTEtNTEwNDQy_1b0f7f01-c828-43b2-9a40-efc1ff86c5bb">8,624</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i03c57652b956411a92cc80c3e963b663_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzItMi0xLTEtNTEwNDQy_25473876-ba70-4dac-9b1a-a1ec93682cc7">5,905</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia182a0a81eec40bca13534c2ecb028b7_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzItMy0xLTEtNTEwNDQy_a88d53b8-6bef-4909-9d2b-c334aab42a8a">59</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i56bd425412cf42dd8f53208103fa3a8b_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzItNC0xLTEtNTEwNDQy_a18fe104-3aa4-41fa-93c4-c51a4d7b0ef6">2,660</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i426ca478de5842cf8f3337cf2dacd04d_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzMtMS0xLTEtNTEwNDQy_68d22a52-5999-400e-aebb-e8154263f92d">86,779</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7d697166a58d44679081ba29dcde0f58_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzMtMi0xLTEtNTEwNDQy_b43aea4b-7296-42c9-80d0-b0e16490af9b">68,713</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3ab617d7dccb4ebe947a93f09a4d53e4_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzMtMy0xLTEtNTEwNDQy_4c9723a3-9501-49d4-bbd0-2ee076d82d08">314</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i132111ac475e44afb282c6d339f88e9b_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzMtNC0xLTEtNTEwNDQy_3628f7c2-c460-410a-b979-d06110888cc1">17,752</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzQtMi0xLTEtNTEwNDQy_29edfba5-c7f4-4101-b355-93f5091bd862">4,133</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iab433659b8734b0cb695cc425aed6ecf_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzQtMy0xLTEtNTEwNDQy_f14176c2-13b2-436b-817d-d09de6112346">12</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0e7e48bae99e4409a4e1de565e278002_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzQtNC0xLTEtNTEwNDQy_09295f4b-6c1b-4b93-bea5-92eb44147af2">552</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id0b54c498f3b40568c0549782f91162e_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzUtMS0xLTEtNTEwNDQy_56e4fdc1-6be3-4331-811b-3555525841bf">1,774</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if642195682534fd7ab99f7cbf36672b5_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzUtMi0xLTEtNTEwNDQy_5491fb1b-e51b-4794-ac48-d7f9c4298cfb">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7e1d853a91ec49beb1659e75d9b23e8e_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzUtMy0xLTEtNTEwNDQy_5a97309f-7d29-4088-88b1-008bd69df510">13</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7f3938054094b3c81c2a649256b4214_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzUtNC0xLTEtNTEwNDQy_b9e97aeb-2211-47ec-aa5b-91a7ee9e28bb">1,761</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7450af87bf72419ea25ddf0417bd8325_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzYtMS0xLTEtNTEwNDQy_79b4f689-43e8-4bb2-adee-03d396225cb0">101,874</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3231ebabca6045a8aa8d92a1bc5a886d_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzYtMi0xLTEtNTEwNDQy_ed1e45fc-b4f8-4789-82ed-69f4abbfb659">78,751</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i853ba26d10194032b58242aaa509008f_I20211231" decimals="-6" sign="-" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzYtMy0xLTEtNTEwNDQy_487d5c7d-c815-4688-9d42-5f4b66e3b6b6">398</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzYtNC0xLTEtNTEwNDQy_f0365223-cf73-4070-9ca2-0a6d22335fc4">22,725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-45</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_301"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 9. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5Njc_f5601d89-b16a-4326-8478-3d0463292032" continuedAt="icd9243d2f8f540bf8f3774919cf91a78" escape="true">Rights of use</ix:nonNumeric></span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><ix:continuation id="icd9243d2f8f540bf8f3774919cf91a78" continuedAt="i656bae0bf9024f3cb401633949e1d53b"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:MovementsofRightsofUseTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5Njg_8b673658-3cdc-42c5-a725-81bcf83ac3c2" escape="true"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of rights of use in 2022 and 2021 is as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.671%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.847%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combinations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItMi0xLTEtNTEwNDQy_15da456a-25f4-405e-931d-f8a705ce64c6">367</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNC0xLTEtNTEwNDQy_7a7d38e7-9523-4d52-ad73-b811cccef6b1">279</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231" decimals="-6" name="tef:Disposalsrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNS0xLTEtNTEwNDQy_fe179c0a-2b61-4a53-86cd-59b6045025c4">7</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNi0xLTEtNTEwNDQy_5205f5e1-adaf-42b1-aafc-ba22564ef7f1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231" decimals="-6" name="tef:Transfersandothersrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNy0xLTEtNTEwNDQy_f5d050ab-3ce6-4a55-b130-a1301cefa85c">15</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231" decimals="-6" name="tef:Translationdifferencesandhyperinflationrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItOC0xLTEtNTEwNDQy_6a16bd7e-84aa-42ae-9b9d-60f19e9c36fb">26</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea5cba2b76d9421baf90d27f37171090_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzMtNS0xLTEtNTEwNDQy_59d0bf7a-4e4d-4c2e-aa09-225ab2aafb7d">29</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i72413a4de87c4c6c9d3e134aeed04cfc_D20220101-20221231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzMtNy0xLTEtNTEwNDQy_edc6d067-e177-48ee-b0bc-6592aab1c05b">11</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i72413a4de87c4c6c9d3e134aeed04cfc_D20220101-20221231" decimals="-6" name="tef:Translationdifferencesandhyperinflationrightofuseassets" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzQtNy0xLTEtNTEwNDQy_90947f07-f926-48e0-a5b6-e5b73f455e7b">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i412955cd200e4a95b6096264bb1a87c2_D20220101-20221231" decimals="-6" name="tef:Translationdifferencesandhyperinflationrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzQtOC0xLTEtNTEwNDQy_82fdceb1-7584-4882-be16-7859afe4d4b9">15</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7f3506efdc74893a9281644cd09538a_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzQtOS0xLTEtNTEwNDQy_7e5896fa-74e1-4890-9615-e3b278b3bfda">3,037</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7f177bb03d584b078191eab339ec3b9c_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtMS0xLTEtNTEwNDQy_2e6c76d0-ed01-4352-bbd1-eb6ebb1ffb81">201</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i53d0c0840bb9432ea814a6220a50d754_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtMi0xLTEtNTEwNDQy_bc7aa7b4-166b-4311-8071-d2cd0ea993ca">83</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i53d0c0840bb9432ea814a6220a50d754_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationRightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtNC0xLTEtNTEwNDQy_add5d785-67ad-4dc9-989c-2e49ebac4f02">72</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i53d0c0840bb9432ea814a6220a50d754_D20220101-20221231" decimals="-6" name="tef:Disposalsrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtNS0xLTEtNTEwNDQy_2aa14a07-b0ef-41f6-8e49-e41572a46e93">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i53d0c0840bb9432ea814a6220a50d754_D20220101-20221231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtNi0xLTEtNTEwNDQy_ebdd71e5-e084-4ba9-ac5a-f7c5087e244c">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i53d0c0840bb9432ea814a6220a50d754_D20220101-20221231" decimals="-6" sign="-" name="tef:Transfersandothersrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtNy0xLTEtNTEwNDQy_61aae93c-d3b3-4428-91d4-3ef908fdd878">11</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i53d0c0840bb9432ea814a6220a50d754_D20220101-20221231" decimals="-6" name="tef:Translationdifferencesandhyperinflationrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtOC0xLTEtNTEwNDQy_cb5a7cf2-9828-4a61-ba26-7cd058aafcd7">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i84d585a4ca3c4fa596030084d9b93864_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzUtOS0xLTEtNTEwNDQy_90a97be2-f76f-46da-b2eb-73631732a239">227</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzctMS0xLTEtNTEwNDQy_45d0c30a-43ca-4160-9b41-9fd7061af4e1">7,579</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzctMi0xLTEtNTEwNDQy_a0d38d9d-3eb4-4d11-924b-efa2ff93e2fc">2,448</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzctNC0xLTEtNTEwNDQy_7609fbf3-a906-436a-95b5-d0f7d62570a4">2,064</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:Disposalsrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzctNS0xLTEtNTEwNDQy_2952a471-1ab9-48f4-9217-970032356a50">57</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzctNi0xLTEtNTEwNDQy_834a1e01-1e38-48da-8da3-2edce5f6fd43">111</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzMtNy0xLTEtNTEwNDQy_08f296d7-4615-4e1f-9868-fe96a8fb95a9">40</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifbd34c34e1044b18baa03cb474d55283_D20210101-20211231" decimals="-6" name="tef:Translationdifferencesandhyperinflationrightofuseassets" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzUtNy0xLTEtNTEwNDQy_87b02992-ed04-482a-ac65-a401962cfda1">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifb60ec02d723473280275526119e1775_D20210101-20211231" decimals="-6" sign="-" name="tef:Translationdifferencesandhyperinflationrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzUtOC0xLTEtNTEwNDQy_a582b0f9-f73f-4b55-ac95-2afa6bc24a61">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7f177bb03d584b078191eab339ec3b9c_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzUtOS0xLTEtNTEwNDQy_dd85c0ae-c17a-45f1-a722-33afd533fbf9">201</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtMS0xLTEtNTEwNDQy_e5662464-4c22-45da-b299-488e0b56e5ec">4,982</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionsToRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtMi0xLTEtNTEwNDQy_4bca332b-080d-4177-9068-855fa410e8ab">1,979</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:SaleOfDisposalGroupsRightOfUseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtMy0xLTEtNTEwNDQy_fd94bffa-818f-4a49-94ca-e9d88e97955e">2,500</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DepreciationRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtNC0xLTEtNTEwNDQy_65f71840-cba1-4f7b-9fd0-296a61741b3d">1,649</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Disposalsrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtNS0xLTEtNTEwNDQy_8347ea14-ea78-404a-8e3b-c0893e31bf4b">221</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtNi0xLTEtNTEwNDQy_9b483785-8da1-4824-9544-26acc936d109">8</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Transfersandothersrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtNy0xLTEtNTEwNDQy_22a4732b-f908-4d46-a6c3-5351456ba8fd">48</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Translationdifferencesandhyperinflationrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtOC0xLTEtNTEwNDQy_a010bc57-659a-4229-82b9-616a60677b42">28</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtOS0xLTEtNTEwNDQy_72efcc34-b733-46b3-9ead-9291133a1f14">7,579</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Total additions of rights of use in 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzM5Mw_48232f54-cc5a-46ad-8ac0-cc6ce635da7a">2,439</ix:nonFraction> 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.</span></div></ix:nonNumeric><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2022 corresponds to the acquisition of rights of use of Oi, the Incremental Group and the BE-terna Group (see Note 5) amounting to <ix:nonFraction unitRef="eur" contextRef="iece0586bc90b4e56973253ab7debb6f2_D20220101-20221231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzIwNzI_b5ed59b3-ae1a-4921-8db3-1f88d7d02c90">105</ix:nonFraction>, <ix:nonFraction unitRef="eur" contextRef="i9cf3a1b1dee54a94932b99725b17960d_D20220101-20221231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTc0NDU_79639fac-8c37-4b07-8939-848329f72e56">1</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i42229b6c19624b0abebb1eb82a0b7dfd_D20220101-20221231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTc0NDk_6473678b-9d98-4f1a-bd29-fcfbdb112e75">5</ix:nonFraction> million euros, respectively.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business combinations" in 2021 corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5) amounted to <ix:nonFraction unitRef="eur" contextRef="i239fd8e83dec41d4b60f02cba4ac2f0c_D20210101-20211231" decimals="-6" name="tef:InclusionOfCompaniesRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzE2NDkyNjc0NDY2NDk_0d8c8736-68a2-4558-a45a-473a6966eb01">8</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The effect of the translation into euros of rights of use of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a) is shown in the column "Translation differences and hyperinflation adjustments". </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, there was an increase in amortization of rights of use amounting </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to <ix:nonFraction unitRef="eur" contextRef="ia9b05ba6b2544d59931cc6db7850d05d_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseInDepreciationRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI0Mzc_3d3bcd53-d297-4c44-8d71-766213481ff8">17</ix:nonFraction> mil</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">lion euros (<ix:nonFraction unitRef="eur" contextRef="id656a978ca83450c83e239f0a4c7cc4a_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseInDepreciationRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI0NTU_515e69fc-4f75-4de8-a0ab-0c6bd55483ce">40</ix:nonFraction> million euros in 2021) due to the reduction in the useful lives of certain rights of use of Telef&#243;nica M&#233;xico as a result of the transformation of the operating model announced in November 2019.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021 Telxius sold its telecommunications towers division to American Tower Corporation (see Note 2). The Telef&#243;nica Group operators maintained the leases agreements of the towers signed with the companies sold, subsidiaries of Telxius. Consequently, as of the closing date of the transactions, rights of use were recorded in the consolidated statement of financial position in the amount of <ix:nonFraction unitRef="eur" contextRef="i9cf7fdb3eca34ead9fda409db6e18c36_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTk0MzA_db5c7142-9dba-41c2-b48f-c56775f9eb28">2,633</ix:nonFraction> million euros. &#8220;Sale of the towers division of Telxius&#8221; column also includes the derecognition of rights of use with third parties corresponding to the second phase of the sale agreement between Telefonica Germany and Telxius in the amount of <ix:nonFraction unitRef="eur" contextRef="i0590d61d5feb427598ae3ba9c52c9aa5_D20210101-20211231" decimals="-6" name="tef:SaleOfDisposalGroupsRightOfUseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTk0Mzk_c983175e-c65a-4c06-96bd-9a2d79037fa0">133</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Transfers and others" in 2021 included the transfer to "Non-current assets and disposal groups held for sale" of the rights of use of Telef&#243;nica El Salvador amounted to <ix:nonFraction unitRef="eur" contextRef="i210f8f3025ee42dbb1993a6aa24e582e_D20210101-20211231" decimals="-6" name="tef:Transfersandothersrightofuseassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTk0NTI_89cb2073-7176-4002-b1a4-03140f8de04b">36</ix:nonFraction> million euros (see Note 30).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-46</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i656bae0bf9024f3cb401633949e1d53b"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5MzA_8cfce724-1967-4a37-a48b-33e7616e5d66" escape="true"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost and accumulated depreciation of the rights of use at December 31, 2022 and 2021 are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:54.471%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.468%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.779%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rights of use</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i716bb6f68d094e37a65f7e0586482ebd_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzItMS0xLTEtNTEwNDQy_bc872bda-35c4-4a20-a8fc-3e21b191a268">1,923</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i10a7eb8e75f74c68a054b7d33af435a2_I20221231" decimals="-6" sign="-" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzItMi0xLTEtNTEwNDQy_4474acdb-5f25-45ed-9edf-9214cc1e0961">1,038</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea5cba2b76d9421baf90d27f37171090_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzItNC0xLTEtNTEwNDQy_e9d8ee49-0b05-4057-93b3-b693591355d2">885</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0e85f2975a24471a9c9cca60494fa76c_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzMtMS0xLTEtNTEwNDQy_2310c5fa-4b2e-432a-af42-bad0500ca512">8,053</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2a2845fe1b38414597ceaeaf1b32717a_I20221231" decimals="-6" sign="-" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzMtMi0xLTEtNTEwNDQy_ee574415-44b7-4ae8-8108-a495b4d0a547">3,923</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9f86dcfa531c4a338091b0fb6afb4ec4_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzMtNC0xLTEtNTEwNDQy_48f92b15-53ef-4c0d-a199-68d3ad0ab13b">4,130</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzQtMi0xLTEtNTEwNDQy_84e36e3a-c1b5-4ba6-a9f1-24861adfde99">1,523</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7f3506efdc74893a9281644cd09538a_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzQtNC0xLTEtNTEwNDQy_a7eae269-c766-41ea-b2f3-64c465619d8b">3,037</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzUtMi0xLTEtNTEwNDQy_3bc7d727-6581-4a65-a9bc-c4ffb03930c2">242</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i84d585a4ca3c4fa596030084d9b93864_I20221231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyYzhkM2I3ZDY4N2E0YTRlYmVlZjRiMjZhY2I4MjNiNy90YWJsZXJhbmdlOjJjOGQzYjdkNjg3YTRhNGViZWVmNGIyNmFjYjgyM2I3XzUtNC0xLTEtNTEwNDQy_899f3f6e-7472-4fbb-a393-55e80140da20">227</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:54.471%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.468%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.779%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia804612c75f5490bb378a35f7c06a816_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzItMS0xLTEtNTEwNDQy_469eab7c-17cb-4f52-9dbd-57b1ab8fe98c">1,491</ix:nonFraction>&#160;</span></td><td 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style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i15bde19318104a49834a7538e99ea42c_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzItNC0xLTEtNTEwNDQy_ba8391fb-373c-468b-b51e-2d7445f09743">793</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f2c3d28b1294f1283f17ebefa7d2f06_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzMtMS0xLTEtNTEwNDQy_2248335c-66a3-4566-8368-69936b5de798">6,214</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8a6bf5cc54cc4d8b9c97cbaabf1d2824_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzMtNC0xLTEtNTEwNDQy_defe91fe-a1ab-4b52-8fb5-f8f8c5fb6909">3,561</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icb34e09d612a4bd6b4deda619522637a_I20211231" decimals="-6" sign="-" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzQtMi0xLTEtNTEwNDQy_ca3bcf16-d994-4774-9f9b-45b211642bf1">979</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibcc24106c8e044c7936ae92c456966e3_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzQtNC0xLTEtNTEwNDQy_c5bf2688-5241-42c8-a984-16a8d596d6e8">3,024</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i18037aabb1244ff7bd02062fbba8206f_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzUtMS0xLTEtNTEwNDQy_99902f2a-caff-4a5c-8064-54ec4d195ac6">404</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i84d230b51ee04093a5d5e71dd0a7c456_I20211231" decimals="-6" sign="-" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzUtMi0xLTEtNTEwNDQy_c6465b74-4c5d-49c2-b1b3-f6239025d53b">203</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7f177bb03d584b078191eab339ec3b9c_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzUtNC0xLTEtNTEwNDQy_c71efc02-426f-4ad2-9d1b-70182d9aa7bc">201</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7450af87bf72419ea25ddf0417bd8325_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzYtMS0xLTEtNTEwNDQy_79a4ff8f-2078-4773-a5d4-85c021d72567">12,112</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3231ebabca6045a8aa8d92a1bc5a886d_I20211231" decimals="-6" sign="-" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzYtMi0xLTEtNTEwNDQy_4cfb022c-2add-49b3-bb0f-68252e745461">4,533</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:RightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzYtNC0xLTEtNTEwNDQy_2e189737-4789-4acf-b4bd-3aefaca7b340">7,579</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleofExpensesRelatedtoLeasesandIncomefromSubleasingRightofUseAssetsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5NDg_8ca95af3-9965-4c09-bbae-7152f4f688b0" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of expenses related to leases included in Supplies and Other expenses (see Note 3.g) of the consolidated income statement for 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.321%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.690%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ExpenseRelatedToVariableLeasesNotIncludedInTheMeasurementOfLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzItMi0xLTEtNTEwNDQy_09ac7663-cae1-4f45-8c3d-a602f0a5a1eb">18</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total expenses as supplies</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ExpenseRelatedToLeasesIncludedInOperatingResultsAsSupplies" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzMtMS0xLTEtNTEwNDQy_617a6bdf-8c68-4483-95f8-96423af5ce04">39</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ExpenseRelatedToLeasesIncludedInOperatingResultsAsSupplies" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzMtMi0xLTEtNTEwNDQy_b3887fd1-19c5-45bd-942e-7d3669b5cbc1">41</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term leases included in external services</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzQtMi0xLTEtNTEwNDQy_2a03e748-0aff-4472-a0ba-4306f0b6327b">39</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzUtMS0xLTEtNTEwNDQy_af457eb3-aa32-4de9-9892-e943766f70ac">8</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzUtMi0xLTEtNTEwNDQy_c10a7dfa-c3c9-4d9d-8e8a-5782a8bed913">9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Variable lease payments not included in the measurement of lease liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzYtMi0xLTEtNTEwNDQy_3afe409a-5223-4fc5-8bc3-03b4b38dd6d8">32</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total expenses as external services (Note 26)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalservices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzctMS0xLTEtNTEwNDQy_8d804f9d-ac7c-43ed-81b2-cfdfc52cac6c">86</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalservices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzctMi0xLTEtNTEwNDQy_04c7bd5f-6b5b-4ab6-aaab-4df4dc7b79b7">80</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total lease expenses</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid 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0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ExpenseRelatedToLeasesIncludedInOperatingResults" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzgtMi0xLTEtNTEwNDQy_90410224-0fd7-4800-bcc8-45b251ddd0d8">121</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_304"></div><div style="text-align:center"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-47</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 10. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfJointVenturesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg3Mjk_e9940d2d-b63f-497d-a2c0-d04cad74ba1a" continuedAt="i6a8ceb66ab254f638d5c6cf6ff729d3f" escape="true">Associates and joint ventures</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><ix:continuation id="i6a8ceb66ab254f638d5c6cf6ff729d3f" continuedAt="i685c4608184b4c61b2732868fd7547d6"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg2ODU_e50df71c-0499-4ef3-aa4b-430cb40cbb5e" continuedAt="i49142ace7435466da43198b6d0519d98" escape="true"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of investments accounted for by the equity method and the share of income/(loss) of these investments is the following:</span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div style="padding-right:141.73pt"><span><br/></span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.492%"></div></div><div style="padding-right:141.73pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.549%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.133%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.133%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.138%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Holding</span></td><td colspan="6" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31/12/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31/12/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzItMS0xLTEtNTEwNDQy_33bb14b3-4b2b-43a5-aca6-a4e9e75cad56">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9a0fe481bbe24e5e813ea5a1cf580d25_D20200101-20201231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzQtNi0xLTEtNTEwNDQy_e7bae0af-cbec-49d8-8ce4-e41ed64f12a5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unsere Gr&#252;ne Glasfaser </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i6694534bf12e4503bdb4cb2a9f98ee4f_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzUtMS0xLTEtNTEwNDQy_02714ff9-bc20-4aa7-9e17-72f7b2c04ab7">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b9f255a80a64635ac6afbf1b64dcc3a_I20221231" decimals="-6" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzUtMi0xLTEtNTEwNDQy_fb4046e9-d43a-49c7-b54b-e667cfaf2f13">108</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6694534bf12e4503bdb4cb2a9f98ee4f_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzUtNC0xLTEtNTEwNDQy_d907dd5f-cb77-4436-bd47-2029dd4a7355">64</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie700cc73c1864998a3ab354093e75b32_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzUtNS0xLTEtNTEwNDQy_ff942c57-c115-420b-80f8-44297f421020">25</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzgtMi0xLTEtNzc2Mzk5_f148d2c6-7985-4fce-aceb-361bed411aad">55</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8680a9e1c1e49b983454e8558d006ec_I20211231" decimals="-6" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzgtMy0xLTEtNzc2Mzk5_0bf83307-88f0-40f1-9e60-067c1e052a92">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i448c37e158b54984810e953b3ec7fb21_D20220101-20221231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i35e6b459ecaf4062a237690415749d14_I20211231" decimals="-6" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzctMy0xLTEtNTEwNDQy_1aedbe36-444d-4049-981c-5321da635725">9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1e2a52db73b74b1786cd667f947a2cf7_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzctNC0xLTEtNTEwNDQy_b27c1f7f-6cb2-4b4c-9af3-65c7fe1c1783">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i39d66b71d3c84fe582f7668444c445bf_D20210101-20211231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzctNS0xLTEtNTEwNDQy_49e7aad5-738d-40fe-be1c-a5a123d25271">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzgtNC0xLTEtNTEwNDQy_f448fbc0-821f-4a94-b364-d6b9f7194ef6">230</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzgtNS0xLTEtNTEwNDQy_6438c12c-9b63-4ede-9aed-485e5fb1fc5a">132</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco, S.L. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i643e510f21984528890a1a1b921290dc_I20221231" decimals="-6" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIxLTItMS0xLTUxMDQ0Mg_983d3859-9d28-4dd3-983e-18d72ae1064f">6</ix:nonFraction>&#160;</span></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i88ad511c4ade48069050f7d9b0dc7b0d_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIxLTYtMS0xLTUxMDQ0Mg_307b9867-f6a0-4979-b09b-6c313f38e3b7">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIyLTItMS0xLTUxMDQ0Mg_bde8ba60-8b80-4abd-aa2f-dc4bcc7b2893">312</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIyLTMtMS0xLTUxMDQ0Mg_6bc6cb11-aca1-4a82-98f6-e08a3b8e08b4">251</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIyLTQtMS0xLTUxMDQ0Mg_07c19807-baad-41bf-9d29-de62672081b4">13</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIyLTUtMS0xLTUxMDQ0Mg_3de5198f-045a-4750-9d72-dc5e838255ae">5</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIyLTYtMS0xLTUxMDQ0Mg_5a12d72a-b165-4bc7-a2ed-0425b351db0b">5</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIzLTItMS0xLTUxMDQ0Mg_3106505a-d1f8-43c4-900e-4f40a5dbc413">11,587</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIzLTMtMS0xLTUxMDQ0Mg_1623d6fa-2ff4-4916-8379-1c890d206d6b">12,773</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIzLTQtMS0xLTUxMDQ0Mg_e003f467-70e9-48c3-8331-13f4e8ffe053">217</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIzLTUtMS0xLTUxMDQ0Mg_a2a49c85-fc97-40cf-896d-80116b80e8f9">127</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzIzLTYtMS0xLTUxMDQ0Mg_0b675dc2-4a86-42e4-88e1-48892ca355e9">2</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="padding-right:141.73pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-48</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><span><br/></span></div><ix:continuation id="i685c4608184b4c61b2732868fd7547d6" continuedAt="iaaf32732e5d44c6e9ae72d842ccb3bc1"><ix:continuation id="i49142ace7435466da43198b6d0519d98"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the movement in investments accounted for by the equity method in 2022 and 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ied9b44e266f4419a8bcb0298aaba254f_I20201231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzEtMS0xLTEtNTEwNDQy_c5cfef52-e73b-4198-85ec-8f3ecbadbaa0">427</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i24b98c1a362a420c94155362c9e1b874_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzItMS0xLTEtNTEwNDQy_593082b2-bfd4-464a-8985-500c97a984a8">12,329</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i24b98c1a362a420c94155362c9e1b874_D20210101-20211231" decimals="-6" name="tef:InvestmentsInSubsidiariesJointVenturesAndAssociatesDisposals" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzMtMS0xLTEtNTEwNDQy_093fcec3-7e70-4b98-81c8-34c43f59ac7b">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other comprehensive income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i24b98c1a362a420c94155362c9e1b874_D20210101-20211231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzQtMS0xLTEtNTEwNDQy_2c1522fa-c19d-4a80-a339-2475f252dc2c">350</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss) income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i24b98c1a362a420c94155362c9e1b874_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzUtMS0xLTEtNTEwNDQy_cb03ea4f-e8ef-430b-b151-55c99e1c5851">127</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i24b98c1a362a420c94155362c9e1b874_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDistributionsJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzYtMS0xLTEtNTEwNDQy_af7442c4-0578-4c1b-8969-2b11c6afc176">198</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i24b98c1a362a420c94155362c9e1b874_D20210101-20211231" decimals="-6" sign="-" name="tef:TransferfromtoInvestmentsEquityMethodInvestments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzctMS0xLTEtNTEwNDQy_f3d78500-9fce-4513-a0ed-20a8605c2895">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i048f6ec83e9c4d75bcb5a1d27f7d96aa_I20211231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzgtMS0xLTEtNTEwNDQy_f1cd90e8-c679-4b6c-9121-e6f4d60d1d82">12,773</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6e29ff0c4af44db1b6d605f314ac9445_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzktMS0xLTEtNTEwNDQy_9615aee6-d328-41f5-8574-3bb6dcfea491">181</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6e29ff0c4af44db1b6d605f314ac9445_D20220101-20221231" decimals="-6" name="tef:InvestmentsInSubsidiariesJointVenturesAndAssociatesDisposals" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzEwLTEtMS0xLTUxMDQ0Mg_b08a835b-2797-40bf-8401-2460fc1b61d2">12</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other comprehensive income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6e29ff0c4af44db1b6d605f314ac9445_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzExLTEtMS0xLTUxMDQ0Mg_c0ee3bf4-ab52-4072-9596-baac7d76c903">646</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6e29ff0c4af44db1b6d605f314ac9445_D20220101-20221231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzEyLTEtMS0xLTUxMDQ0Mg_66798a6f-f1d9-4265-9e14-ee99508a9615">217</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6e29ff0c4af44db1b6d605f314ac9445_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDistributionsJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzEzLTEtMS0xLTUxMDQ0Mg_91bd457a-4d27-4801-abb7-0e95a8d30ef7">920</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6e29ff0c4af44db1b6d605f314ac9445_D20220101-20221231" decimals="-6" sign="-" name="tef:TransferfromtoInvestmentsEquityMethodInvestments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzE0LTEtMS0xLTUxMDQ0Mg_3993bac9-4faa-42e7-85c6-8e3c758d40c9">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i41ad41126acb404e90ab5df952567c44_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxNDQ2ZjA4ZDJmZTQ0YTAwYmZjY2M3NDUzMTMyMGQxOC90YWJsZXJhbmdlOjE0NDZmMDhkMmZlNDRhMDBiZmNjYzc0NTMxMzIwZDE4XzE1LTEtMS0xLTUxMDQ0Mg_bcd722c6-aeb9-4c0d-9387-3555ed70eb48">11,587</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2022, once the corresponding authorizations from the regulatory authorities were obtained and after the fulfilment of certain agreed conditions, the transaction between Colombia Telecomunicaciones S.A. ESP BIC (Telef&#243;nica Colombia) and a Colombian company controlled by Kohlberg Kravis Roberts - KKR (Onnet Fibra Colombia S.A.S) for the sale and purchase of certain fiber assets owned by Telef&#243;nica Colombia and for the provision of wholesale connectivity services by Onnet Fibra Colombia S.A.S to Telef&#243;nica Colombia, the development of activities of deployment of fiber network, and other associated services, was completed. Telef&#243;nica Colombia received, as consideration, <ix:nonFraction unitRef="usd" contextRef="id3b9d8db52774993843665ec1b49d997_D20220112-20220112" decimals="-6" sign="-" name="ifrs-full:ConsiderationPaidReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNDk5MTg_f3cf1265-6799-43df-bea0-cc75bc038dda">187</ix:nonFraction>&#160;million U.S. dollars (approximately <ix:nonFraction unitRef="eur" contextRef="id3b9d8db52774993843665ec1b49d997_D20220112-20220112" decimals="-6" sign="-" name="ifrs-full:ConsiderationPaidReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNDk5MjM_d795729b-03c6-4c3f-891d-624dede1f2c9">165</ix:nonFraction>&#160;million euros at the exchange rate at such date) and <ix:nonFraction unitRef="number" contextRef="if6373c8f985a471b9841b67d83fc8157_I20220111" decimals="2" name="tef:PercentageOfShareCapitalAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNDk5Mjg_8a4254fc-aa8a-458f-98d7-80fd0ba4a8d9">40</ix:nonFraction>% of the shares of a Spanish company controlled by KKR, Alamo HoldCo S.L., the sole shareholder of Onnet Fibra Colombia S.A.S. (see Note 30). The gain included in "Other income" in the consolidated income statement for the year 2022 amounted to <ix:nonFraction unitRef="eur" contextRef="ibc7e94c7f22c4d03b1d6c589c1205291_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnDisposalsOfPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNDk5Njk_3e6dfa5a-b0aa-4dd0-9249-d506d1818571">162</ix:nonFraction> million euros (see Note 26). Additions for the year 2022 include the fair value assigned to the <ix:nonFraction unitRef="number" contextRef="if6373c8f985a471b9841b67d83fc8157_I20220111" decimals="2" name="tef:PercentageOfShareCapitalAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAwMTM_0d93e443-158d-4fba-a586-9b883bb0c81f">40</ix:nonFraction>% of the investment in Alamo HoldCo, S.L. amounting to <ix:nonFraction unitRef="usd" contextRef="ia551ec9875bd4dedb94d535620a6fb6a_D20220112-20220112" decimals="-6" sign="-" name="ifrs-full:ConsiderationPaidReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAwMTg_40abb84f-15cf-45ad-a3e9-c1ff033bfe28">28</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 24, 2022, Telef&#243;nica Infra, S.L. achieved a <ix:nonFraction unitRef="number" contextRef="ifc2608cc7c1144848bb2c2ff12d965ad_I20220524" decimals="2" name="tef:PercentageOfShareCapitalAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAwMzM_93c7ab96-1f86-40e1-8dd6-bf5fca7fda6a">20</ix:nonFraction>% stake in Daytona Midco S.L. as a result of the agreement reached on May 7, 2021 with Asterion Industrial Partners ("Asterion") for the contribution to Nabiax (a subsidiary of Asterion) of four data centers owned by the Telef&#243;nica Group (see Note 29.c). Additions for the year 2022 regarding this transaction amounted to <ix:nonFraction unitRef="eur" contextRef="i1e108002c3c34364933357d3e7308447_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAwNzg_b4385a9a-c0dd-4eb7-977b-880a21db8db0">41</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions for the year 2022 also includes the capital increase of <ix:nonFraction unitRef="eur" contextRef="ia8a0af380b7a4e77b6f6189b8d8f0559_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjI0Mjk_ba878b40-3fa1-479d-bc1a-0050b8364bb7">50</ix:nonFraction> million euros at Unsere Gr&#252;ne Glasfaser (<ix:nonFraction unitRef="eur" contextRef="i2bbe6d4cd6624eb38a0269045f3c04ab_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxODA4NzY_0d628c44-604c-4799-bcc1-cbb64d1e28a4">27</ix:nonFraction> million euros in 2021, see Note 28).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On July 29, 2022, Telef&#243;nica, Liberty Global and InfraVia (see Note 29.c.) reached an agreement for the establishment of a joint venture, "nexfibre", for the deployment of fiber-to-the-home (FTTH) in the United Kingdom. Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and Telef&#243;nica participate by halves in a joint vehicle that holds a <ix:nonFraction unitRef="number" contextRef="i995ed792945f4c10b551b24dd9935327_D20220729-20220729" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjkwNjE_60398555-47b6-4bf8-b73a-fb191ba9b2d3">50</ix:nonFraction>% interest in nexfibre, with InfraVia owning the remaining <ix:nonFraction unitRef="number" contextRef="i179f36f912a54f1f97794a753a294508_D20220729-20220729" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjkwNjY_32917008-31ce-47df-952b-f28938e9d3a6">50</ix:nonFraction>%.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Translation differences and other comprehensive income (loss)" for the year 2022 mainly includes the impact of the pound sterling depreciation associated with the investment in VMO2, amounting to <ix:nonFraction unitRef="eur" contextRef="ibff2c591bcfe438da691e8bc77f4c4ea_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjI1MjM_a9fec3fa-e31c-4f12-94e9-ce52a39b0d6b">627</ix:nonFraction> million euros and the results of the defined benefit pension plan in VMO2 amounting to <ix:nonFraction unitRef="eur" contextRef="ibff2c591bcfe438da691e8bc77f4c4ea_D20220101-20221231" decimals="-6" name="ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjI1Mjg_96c142f4-aafd-4ce8-9fe5-5c5bf7b42a38">106</ix:nonFraction> million euros. This also includes gains imputed to equity on derivatives financial instruments in Unsere Gr&#252;ne Glasfaser amounting to <ix:nonFraction unitRef="eur" contextRef="i8cd73d362f3b4398a3c0702c3af81932_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjI1MzM_e036d065-d95a-4c51-982c-b8cac6aff477">69</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June, September and December 2022, dividends of <ix:nonFraction unitRef="gbp" contextRef="i410ec2cff76748da89d45761994ab55a_D20220630-20220630" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAyMDg_930c0950-b29b-4f02-9183-ff5bb3a1f57c">125</ix:nonFraction> million pounds sterling (equivalent to <ix:nonFraction unitRef="eur" contextRef="i410ec2cff76748da89d45761994ab55a_D20220630-20220630" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAyMTM_e3346aaa-64af-4d3d-9764-f55ce3ae42e2">146</ix:nonFraction> million euros) <ix:nonFraction unitRef="gbp" contextRef="id5dbb69491624cc683c64e4af9f02aaa_D20220930-20220930" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAyMTg_1f35dd9a-5cb0-4435-a574-adeac44319eb">290</ix:nonFraction> million pounds sterling (equivalent to <ix:nonFraction unitRef="eur" contextRef="id5dbb69491624cc683c64e4af9f02aaa_D20220930-20220930" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTAyMjM_7dfe5477-1332-46a3-a4b1-5a7ca1afb4a4">324</ix:nonFraction> million euros) and <ix:nonFraction unitRef="gbp" contextRef="icd033e852fc141ea9bcb8f766a06a995_D20221231-20221231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTQ0MDc_8d44ccf9-5e49-41a0-92e1-567c5f395823">385</ix:nonFraction> million pounds sterling (equivalent to <ix:nonFraction unitRef="eur" contextRef="icd033e852fc141ea9bcb8f766a06a995_D20221231-20221231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTQ0MTI_773e1360-766a-483e-bf49-5c68fe33b678">439</ix:nonFraction> million euros), respectively, were received from VMED O2 UK Ltd. In December 2021, a dividend was received from VMED O2 UK Ltd for an amount of <ix:nonFraction unitRef="gbp" contextRef="i7e7f552c830f4653bfdbbb459ca4af7f_D20211201-20211231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzM0MDg0ODYwNDk0NzYx_f52b9fd2-34ca-4439-a459-9816375f2d19">161</ix:nonFraction> million pounds sterling (equivalent to <ix:nonFraction unitRef="eur" contextRef="i7e7f552c830f4653bfdbbb459ca4af7f_D20211201-20211231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzM0MDg0ODYwNDk0ODA0_2a381ef1-717b-4a2e-932c-d12f4afae067">187</ix:nonFraction> million euros, see Note 28).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-49</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="iaaf32732e5d44c6e9ae72d842ccb3bc1" continuedAt="i0802b03142e942939f3da5300a61780c"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Additions for the year 2021 mainly includes the fair value of the <ix:nonFraction unitRef="number" contextRef="i5f31bd402cda497d8d44bba322c4e772_D20210101-20211231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzM2NA_beed5e6c-20a4-4492-a709-ad439513d899">50</ix:nonFraction>% stake in VMO2 at the date of incorporation, which amounts to <ix:nonFraction unitRef="eur" contextRef="i5f31bd402cda497d8d44bba322c4e772_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzQzOA_7e83c756-69bd-49a1-81cd-227902323af5">12,012</ix:nonFraction> million euros (see Note 2).</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In July 2021, the sale transaction of <ix:nonFraction unitRef="number" contextRef="iba613054dba745e89a8454380ba8f471_I20210731" decimals="2" name="tef:PercentageOfVotingEquityTransferedAsConsideration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzUwNg_894400b9-e57e-4c6f-8c42-c83817125c2e">60</ix:nonFraction>% of the shares of Infraco, SpA was completed. In 2021 additions, the value of the shareholding after the operation is included, amounting to <ix:nonFraction unitRef="eur" contextRef="ic0a22e36047347b194255a175495d9a6_D20210701-20210731" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzY0NA_0b60da5f-3117-4454-9243-7c09df867352">75</ix:nonFraction> million euros.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Additionally, the value of the <ix:nonFraction unitRef="number" contextRef="ia9f7f8332c1548a7a85862864909ebf5_D20210101-20211231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzcwNw_dde5c9d1-3647-4b0d-98c5-aefff47264b7">50</ix:nonFraction>% stake in Fibrasil at the date of the transaction amounting to <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzc3Mg_3cba9f06-824e-49af-861d-e6dcb612bbb0">73</ix:nonFraction> million euros is included in additions for the year 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In July 2021, the partial closing of the transaction with Asterion took place, Telef&#243;nica obtained <ix:nonFraction unitRef="number" contextRef="i44e03056cba04a4fa21501f34a01f4a5_I20210731" decimals="4" name="tef:PercentageOfVotingEquityTransferedAsConsideration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzkyOQ_2276d199-4ec3-4320-ad34-6491b0936aff">13.94</ix:nonFraction>% of the company Daytona Midco S.L. and its subsidiary Digital Data Center Bidco, S.L.U. (Nabiax), registering <ix:nonFraction unitRef="eur" contextRef="i7b6c73d496734106a1a8e41e90562de2_D20210701-20210731" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzEwNDM_9d6b87b8-0aca-4b15-a955-cf4880030dce">81</ix:nonFraction> million euros in additions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">VMED O2 UK</span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.492%"></div></div><div style="margin-top:5pt;text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Main assumptions used in the initial fair value calculation</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value calculation for VMED O2 UK Ltd at the time of its constitution was based on a discounted cash flows valuation, using the methods of multiples of comparable companies and multiples of transactions as a cross-check. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The valuation emanated from the business plan of the joint venture for the 2021-2023 period that resulted from the aggregation of the individual business plans of O2 and Virgin Media approved by Telef&#243;nica and Liberty Global, respectively, extended to 2030, and the synergies plan prepared by the strategy teams of both groups. The following is a description of the main variables considered in the fair value calculation, according to the primary method:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: the valuation scenario assumed growth rates between <ix:nonFraction unitRef="number" contextRef="i3bfd52843cfb4eeba38948c46742321a_D20210601-20231231" decimals="INF" name="tef:ValuationAssumptionRevenueGrowthRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzIzODY_60f67c11-785f-49b8-bf4f-e83914ed4860">0</ix:nonFraction>% and <ix:nonFraction unitRef="number" contextRef="ie6fddcc1a83b49b6a3cf1c681415b953_D20210601-20231231" decimals="2" name="tef:ValuationAssumptionRevenueGrowthRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzIzOTQ_45f6cc22-dea3-471c-8359-96c123f07930">3</ix:nonFraction>% over the period, in line with the estimations of analysts and supported in the revenues synergies expected for the transaction. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">EBITDA margin</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: the forecasted EBITDA (operating income before depreciation and amortization) was based on the stand-alone plans, The normalized margin (post-IFRS 16, i.e., before amortization of rights of use), adjusted to consider the impact of annual payments of spectrum licenses once expired, was in the range of <ix:nonFraction unitRef="number" contextRef="i3bfd52843cfb4eeba38948c46742321a_D20210601-20231231" decimals="2" name="tef:ValuationAssumptionEBITDAMarginPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzI2NDE_6de4baf6-5278-4305-9ec7-8d964f7d547f">36</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="ie6fddcc1a83b49b6a3cf1c681415b953_D20210601-20231231" decimals="2" name="tef:ValuationAssumptionEBITDAMarginPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzI2NDg_327a7f33-0637-4cc5-a1b6-746a5dd3d142">40</ix:nonFraction>%.</span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Synergies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: were considered taking into account management&#8217;s analysis performed at the individual workstream level and benchmarked with analyst estimates of probability of achievement. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Long-term capital expenditure ratio</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: it was expected to be in a range of <ix:nonFraction unitRef="number" contextRef="i3bfd52843cfb4eeba38948c46742321a_D20210601-20231231" decimals="2" name="tef:ValuationAssumptionLongTermCapitalExpenditureRatioPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzMwMTY_d3f41e52-a9d2-4f03-8640-ba3e9a1744be">16</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="ie6fddcc1a83b49b6a3cf1c681415b953_D20210601-20231231" decimals="2" name="tef:ValuationAssumptionLongTermCapitalExpenditureRatioPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzMwMjI_def747b9-a386-4ec7-86d4-a7389ab7ff4b">22</ix:nonFraction>% (including CapEx and rights of use additions), aligned with the historical level of comparable companies.</span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">discount rate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> applied to the cash flow projections was the weighted average cost of capital (WACC), the expected return appropriate for the expected risk level. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A modified version of the Capital Asset Pricing Model (&#8220;CAPM&#8221;) was used to estimate the required return on equity. To relever the beta it was considered the intrinsic leverage of the joint venture. In addition, it was considered a specific premium or alpha, which captures additional risks considered at the time of incorporation in relation to the likelihood of realization of synergies and the execution risk of the combined business plan. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the cost of debt, in line with the leverage assumption considered, the bonds issued by the joint venture were analysed and their spreads were compared to a comparable risk free rate (with a similar maturity, in the same currency and issued in the same country, so that there was not distortion due to the risk premia by country). A return after taxes was used because the interests on the financial debt are tax deductible. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In conclusion, the discount rate applied for the valuation was <ix:nonFraction unitRef="number" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="3" name="tef:ValuationAssumptionDiscountRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzQwMzY_c0b2d4ae-e292-4670-82ed-7a14bcdeeb65">6.9</ix:nonFraction>%.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Perpetuity growth rate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: revenues from 2028 were normalized to the perpetuity growth rate (g), considering the analysts' consensus for the companies of the sector in the United Kingdom, contrasting with the estimations of long-term inflation rates and with the assumptions made by companies of the sector in their impairment tests. The perpetuity growth rate considered was <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="3" name="tef:ValuationAssumptionPerpetuityGrowthRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzQ0MTE_37dd15e4-62ed-4bd6-9fd7-4445e68d4135">1.0</ix:nonFraction>%.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-50</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-51</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i0802b03142e942939f3da5300a61780c" continuedAt="i544246c8338347d7b0875bc6b97a668c"><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Impairment test as at December 31, 2022</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group has performed an impairment analysis of the investment in VMO2 at the end of the year. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022 has been a challenging year for the United Kingdom. In addition to higher inflation due to external factors (rising energy prices, supply chain problems and food prices) and domestic factors (very dynamic labour market), interest rates have risen, which has had a negative impact on the disposable income of households and businesses. This was followed after the summer by an episode of high financial volatility as a result of inconsistent fiscal policy decisions. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Despite the difficult macroeconomic context VMO2 has delivered its set guidance and made strong strategic and operational progress throughout the year. The company introduced new products, like TV Stream and Switch up and continues to drive fixed mobile convergence with its VOLT product. VMO2 delivered synergies according to its plan and the fixed footprint reached <ix:nonFraction unitRef="premise" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-5" name="tef:NumberOfPremisesPassed" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTQ1_3b81ecab-ac28-4aff-9e77-0c10c1e24107">16.1</ix:nonFraction> million premises passed, meeting the full year build targets. In mobile, it expanded 5G services to more than <ix:nonFraction unitRef="city" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-2" name="tef:NumberOfCitiesWith5GNetwork" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTM4_be27a73c-41b7-482e-9a1c-4165ae8b8721">1,600</ix:nonFraction> towns and cities, on-track to deliver 5G services to <ix:nonFraction unitRef="number" contextRef="i6b1e650dc77b452195fd5692b89c2aa4_D20230101-20231231" decimals="2" name="tef:PercentageOfPopulationCoveredIn5GNetwork" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTU1_98c4d3b6-20a8-4856-b164-cac14ff297da">50</ix:nonFraction>% of the UK population in 2023.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on December 15, 2022, Telef&#243;nica Infra, Liberty Global and InfraVia Capital Partners entered into a joint venture (see Note 29.c) which will deploy fibre to the home (FTTH) to <ix:nonFraction unitRef="home" contextRef="i26c31319528b44e783dbfa6da7258c28_D20221215-20221215" decimals="-6" name="tef:NumberOfPremisesCoveredByFiberOptic" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTEz_d082f09b-89b5-45c9-b8de-1afa5acd8b8c">5</ix:nonFraction> million homes in the UK not currently served by VMO2's network, with the possibility of expansion to an additional <ix:nonFraction unitRef="home" contextRef="i26c31319528b44e783dbfa6da7258c28_D20221215-20221215" decimals="-6" name="tef:NumberOfAdditionalPossiblePremisesCoveredByFiberOptic" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTE2_ca2956f9-3c29-4fb4-83a4-2d6f1a084f39">2</ix:nonFraction> million homes. The fibre network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the anchor tenant, as well as providing a range of technical services.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the analysis performed, the Group has concluded that as at December 31, 2022 the value in use continues to exceed the carrying value of the investment, although the headroom has been reduced. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate used to calculate the value in use at December 31, 2022 has increased from <ix:nonFraction unitRef="number" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="3" name="tef:ValuationAssumptionDiscountRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDYxNDUz_c0b2d4ae-e292-4670-82ed-7a14bcdeeb65">6.9</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="3" name="tef:ValuationAssumptionDiscountRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2MzM3_52252e53-83a3-4b1e-b83f-c06829fbd933">7.3</ix:nonFraction>% due to the macroeconomic tensions in the UK and despite the downward revision, more than 20 months after the establishment of the joint venture, of the specific premium (alpha) considered in the calculation of the initial fair value. The perpetuity growth rate has been maintained at the <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="3" name="tef:ValuationAssumptionPerpetuityGrowthRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2MzQz_8f25dc30-0650-4d92-8e15-a2f0b85de604">1</ix:nonFraction>% used in the initial valuation, which is below the real terminal growth forecast for the UK economy and despite higher inflation in the medium-term than assumed in the initial scenario.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the sensitivity of the calculation to reasonably possible variations in key assumptions:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">An increase of about <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="4" name="tef:ValuationAssumptionWeightedAverageCostOfCapitalIncreaseDecrease" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDYyMDI2_003ebe62-e535-4e29-82b7-ca919b299b8a">18</ix:nonFraction> basis points over the WACC rate used of <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="3" name="tef:ValuationAssumptionDiscountRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2NzY2_1b2debfb-61ca-488d-904d-1917c28f0e65">7.3</ix:nonFraction>%, or a decrease of around <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="4" sign="-" name="tef:ValuationAssumptionPerpetuityGrowthRateIncreaseDecrease" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDYyMTE1_05e2dc6b-8ddd-4a07-ad18-45cbc5dd7972">22</ix:nonFraction> basis points in the perpetuity growth rate (<ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="tef:ValuationAssumptionPerpetuityGrowthRatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDYyMTEy_401e1297-dc1d-4e79-b1e6-361d82f2d8a1">1</ix:nonFraction>%), would result in the value in use being equal to the carrying value.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Regarding the operating variables used, which are within the ranges considered in the calculation of the initial fair value, a decrease of around <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:ValuationAssumptionIncreaseDecreaseInEBITDAMargin" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2OTY3_74e4e197-4ffd-4851-9f79-d73107d4b0ca">1</ix:nonFraction> percentage point in the EBITDA margin, or an increase of around <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="3" name="tef:ValuationAssumptionIncreaseDecreaseInLongTermInvestmentRatio" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2OTY4_19945230-173b-4346-8465-cc123084131b">1.1</ix:nonFraction> percentage points in the long-term investment ratio would also equalize the value in use with the carrying value.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The values of operating variables included in the valuation are within the ranges expected by analysts for comparable companies in the region.</span></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-52</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i544246c8338347d7b0875bc6b97a668c" continuedAt="i23bdebe7045d464da8b6f4a61e19e44e"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfStatementOfFinancialPositionAndIncomeStatementOfJointVenturesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg3MzE_6a44115e-5c9f-4f11-b991-78f36cf81c34" continuedAt="i85850860f7564ffd9585252312a2ac07" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Detail of the main items on the statements of financial position and income statements of VMED O2 UK Ltd</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.274%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.712%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.714%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non current assets</span></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzEtMS0xLTEtNzEwMjU5_f14f8635-d320-4684-9ed3-a1a9c1200f3e">46,280</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssets" format="ixt:num-dot-decimal" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:CurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzItMS0xLTEtNTEwNDQy_1a41d7de-7d69-4f98-89a0-f32e742f97a6">3,554</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzMtMS0xLTEtNzEwMjU5_4322c1af-e9d9-4a4c-ae68-10d7622d050b">555</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:CashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzMtMS0xLTEtNTEwNDQy_5c33f15e-5fce-4f47-a62e-f8b09f47c265">415</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzQtMS0xLTEtNTEwNDQy_5b2999a3-7216-422e-9fb1-b66ac12558d5">52,333</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:NoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzUtMS0xLTEtNzEwMjU5_ca7a5ff4-07ea-430e-93ac-4044606a8663">20,840</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:NoncurrentLiabilities" format="ixt:num-dot-decimal" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzYtMS0xLTEtNTEwNDQy_598303b0-1ca3-420f-84c7-08437bda4eeb">19,185</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:NoncurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzctMS0xLTEtNzEwMjU5_52a3c443-2acf-40e5-b936-a4af54df6b11">725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:NoncurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzctMS0xLTEtNTEwNDQy_be9b8f63-3de5-4f01-ae95-c6e19c3f8b67">885</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:OtherNoncurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzgtMS0xLTEtNzEwMjU5_d821e47e-9d4e-45af-a3e4-df2c7c006f88">447</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:OtherNoncurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzgtMS0xLTEtNTEwNDQy_627af76b-2ec9-4139-bb8d-e5ab9be07e5e">523</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:CurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzktMS0xLTEtNzEwMjU5_a2419646-6add-48a2-a3b1-4c2d83613989">7,786</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:CurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzktMS0xLTEtNTEwNDQy_0653e9a5-7462-4464-8bc9-b55f051f4353">7,605</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzExLTEtMS0xLTcxMDI1OQ_d086be0f-e480-4ba4-9ef5-be754fdc174d">221</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzExLTEtMS0xLTUxMDQ0Mg_55ba17cb-b513-4ef1-8ffa-2dc9f8732bcc">219</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:OtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzEyLTEtMS0xLTcxMDI1OQ_bde97ef8-a468-4792-86d1-15409e999add">4,317</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:OtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzEyLTEtMS0xLTUxMDQ0Mg_993ff55b-b126-4e11-a12a-410c04644968">4,545</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzEzLTEtMS0xLTcxMDI1OQ_dd7f6317-f9b7-4eca-ac55-a4e8317f7a80">28,626</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzEzLTEtMS0xLTUxMDQ0Mg_008fb6a4-fab4-4c5c-b3df-439faf2aa81a">28,198</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity (<ix:nonFraction unitRef="number" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="2" name="tef:PercentageOfEquityOfJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE0LTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOmE0MDdhMWRkNjQyZjQ5OTY5N2ExNGFkNWU5ZmYzYmRhXzU0OTc1NTgxMzg5MTE_3784f501-1c68-4ec6-a2d4-3505800a2523">100</ix:nonFraction>% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE0LTEtMS0xLTcxMDI1OQ_e9ad4a93-b476-4418-b3e6-6935f242e029">21,436</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE0LTEtMS0xLTUxMDQ0Mg_f6d59e75-ea75-4c57-8614-391b44795a44">24,135</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia0bbc4f3b4bb400f84f0f36107868071_D20211231-20211231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE1LTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjRlNjkyZTcwYjVjMTRiYWRiNDI1Mjc2YmQ0ODQzNDUzXzU0OTc1NTgxMzg5MTI_7408074b-ebb1-4c0b-abde-a4941b2e9597">50</ix:nonFraction>% Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="tef:FairValueOfInvestmentsInJointVentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE1LTEtMS0xLTcxMDI1OQ_0d1c2223-69ba-4a27-90c5-552f9e22e41c">10,718</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="tef:FairValueOfInvestmentsInJointVentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE1LTEtMS0xLTUxMDQ0Mg_5d81d862-4c1f-47e7-a5ab-d04d132498df">12,068</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisition costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE2LTEtMS0xLTcxMDI1OQ_769b21c4-99d2-477e-900d-c9ee6d565f32">61</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5f31bd402cda497d8d44bba322c4e772_D20210101-20211231" decimals="-6" name="ifrs-full:AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE2LTEtMS0xLTUxMDQ0Mg_bac79146-2ee7-47f6-a124-94d61217cf57">61</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE3LTEtMS0xLTcxMDI1OQ_c3fb0fc8-38a7-473b-afb5-7c6521a9ff98">10,779</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="-6" name="ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTphZDMzOGU1YzI3ZDQ0NzNmYThlMDc4NTAyYmNkMGJjOC90YWJsZXJhbmdlOmFkMzM4ZTVjMjdkNDQ3M2ZhOGUwNzg1MDJiY2QwYmM4XzE3LTEtMS0xLTUxMDQ0Mg_d584b63d-a71b-4f75-aeb3-d4cea80d68ba">12,129</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:64.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:OtherIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzItMS0xLTEtNzEwNjUw_5ac925c4-3c69-4baf-b007-25ba6aa2d5f1">551</ix:nonFraction>&#160;</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzMtMS0xLTEtNzEwNjUw_bc5646a5-b2ae-47a7-ad7c-2e1cbba199e4">8,305</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:OtherExpenseByNature" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzYtMS0xLTEtNzEwNjUw_c5c6ee35-bc9b-4229-a45f-6435260f7ede">231</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:ProfitLossFromOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzYtMS0xLTEtNTEwNDQy_908ec19c-df6f-415a-9117-4ea4a984125a">55</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzctMS0xLTEtNzEwNjUw_3b228743-3a4a-42a1-ac90-c230b84cff4c">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzctMi0xLTEtNzEwNjI0_a46d0d49-f88b-4b53-872e-9fee4da5b7bf">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:FinanceIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzgtMS0xLTEtNzEwNjUw_eb4357da-fb77-4a78-94f4-d71f2a0ec1ac">24</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:FinanceIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzctMS0xLTEtNTEwNDQy_cf867791-8c1c-4fac-9512-883ab52a92af">27</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzktMS0xLTEtNzEwNjUw_3e8c4715-abf6-462b-8daf-7804cbc0839d">1,020</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:FinanceCosts" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzgtMS0xLTEtNTEwNDQy_90755edd-b9ef-4fd6-ba1f-3b501e85625a">504</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">Realised and unrealised gains on derivative instruments, net </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEwLTEtMS0xLTcxMDY1MA_4e463cc9-ae8a-47f3-961b-3ee02dd30802">2,567</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzktMS0xLTEtNTEwNDQy_bd7e38d7-db08-4131-b787-15786d2a26b8">489</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency transaction losses, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzExLTEtMS0xLTcxMDY1MA_7d5b8042-2055-402a-94f7-4aa012cd3101">1,296</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="ifrs-full:NetForeignExchangeLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzExLTItMS0xLTcxMDYzNA_10400ec5-aa19-4340-ba08-549377f9c6d3">367</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" sign="-" name="tef:NetFinancialExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEyLTEtMS0xLTcxMDY1MA_e70bb51f-628f-411f-8423-ce7e2c112262">275</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="tef:NetFinancialExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEyLTItMS0xLTcxMDYzNA_f77a2567-6cc7-4965-a3f2-718179016f99">355</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result before taxation</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossBeforeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEzLTEtMS0xLTcxMDY1MA_ee2097ec-8566-479f-9d56-c6d0773763fe">507</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:ProfitLossBeforeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEwLTEtMS0xLTUxMDQ0Mg_ecd3f505-1c65-4614-9bc6-456fe6e52c54">300</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzE0LTEtMS0xLTcxMDY1MA_321911e3-aa17-4716-87c4-8fac358ce2a9">15</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzExLTEtMS0xLTUxMDQ0Mg_3b4de6da-06d5-49cb-88b9-1dde7dcc2f78">65</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result for the period (<ix:nonFraction unitRef="number" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="2" name="tef:PercentageOfResultForThePeriodOfJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEyLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjliZDlhNTc4ZDRiZTRhZWY5NmQ3OWQ1MTE1MzM2MDExXzU0OTc1NTgxMzg5MjE_9084ed38-4b1b-4548-9ed3-8087c38129c1">100</ix:nonFraction>% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzE1LTEtMS0xLTcxMDY1MA_10cb4c8f-798f-4552-8a92-a4a9d7795f48">492</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:ProfitLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEyLTEtMS0xLTUxMDQ0Mg_633957ed-8b89-4741-9fdb-1da5582bbe1e">235</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia0bbc4f3b4bb400f84f0f36107868071_D20211231-20211231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEzLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjAyZGQ0NTJmZGJlZDQzZmFhZGE2N2ViNTA2OGNiZmY4XzU0OTc1NTgxMzg5MjM_267a55fd-21cd-4276-bcb4-c64d23bfccc6">50</ix:nonFraction>% attributable to Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="tef:FairValueOfInvestmentsInJointVenturesOtherVenturer" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzE2LTEtMS0xLTcxMDY1MA_d9734d41-3ca3-45ab-943e-b3049260369f">246</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="tef:FairValueOfInvestmentsInJointVenturesOtherVenturer" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzEzLTEtMS0xLTUxMDQ0Mg_fc274e3e-0e92-4f5c-ae82-08a744fb3d3b">117</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" sign="-" name="ifrs-full:ExpenseFromEquitysettledSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzE0LTEtMS0xLTUxMDQ0Mg_de1e05d0-74f8-4e6f-9361-2d6d3b77ce3f">14</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="tef:OtherAdjustments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToxY2UwYWE4Y2E1MWI0YTJjOWMzZTdlOTkxYjcwYTkyNC90YWJsZXJhbmdlOjFjZTBhYThjYTUxYjRhMmM5YzNlN2U5OTFiNzBhOTI0XzE4LTEtMS0xLTcxMDY1MA_d0531bc5-7af9-4d21-9a01-ad5254ddd661">32</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231" decimals="-6" name="tef:OtherAdjustments" format="ixt:fixed-zero" scale="6" 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Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><span><br/></span></div><div><span><br/></span></div><ix:continuation id="i23bdebe7045d464da8b6f4a61e19e44e" continuedAt="icd7983c52c1f4596b4d280a71939873c"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Commitments </span></div><div><span><br/></span></div><div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfPurchaseCommitmentsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg2NjM_3945a7ce-81e3-456e-82bf-0d4132625b54" escape="true"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:43.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.324%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.324%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.657%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.843%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzMtNS0xLTEtNTEwNDQy_d39ad6f5-e63d-43b7-87d8-7b9fce03cbf4">22</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i23ee11e2dcc34b5aac2be02206f98675_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzMtNi0xLTEtNTEwNDQy_08f0b557-eab9-4139-962f-0cfb6fc89f37">199</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fd29716650d432fb663f9e61656dc28_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" format="ixt:num-dot-decimal" scale="6" 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unitRef="eur" contextRef="i6165f4a41b8943d7b237abd9b1fff852_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzQtMi0xLTEtNTEwNDQy_4889110c-ed58-4c10-8d92-4689ad611887">265</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib587000ccbce4bc0b67a46f8191a7929_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzQtMy0xLTEtNTEwNDQy_1a82be93-0a9d-4fc3-903b-6b8ef49fd3d9">264</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0ef9ce0e78de4355baa97653e3e89fad_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzQtNC0xLTEtNTEwNDQy_6e9a2c64-e2d1-4c9d-a7e6-bd7c0e2873b2">266</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id1953e2de4c546e49e3e4fb96799d30d_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzQtNS0xLTEtNTEwNDQy_dcc52ba7-b332-442c-9e26-5a2e33d5832f">124</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i29b37f4aca7042f08842cfd3a19f67c0_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzQtNi0xLTEtNTEwNDQy_9bc6db28-478f-4d57-a07c-e7e271d281cb">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i25151bd4a11d4c5998d1168edb7a6510_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzQtNy0xLTEtNTEwNDQy_3f22542b-0c4d-4ab4-adea-b78b5a9238a0">1,294</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total commitments VMO2 (<ix:nonFraction unitRef="number" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="2" name="tef:PercentageOfTotalCommitmentsOfJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzUtMC0xLTEtNTEwNDQyL3RleHRyZWdpb246MjIxM2EwZTIyMTMyNGI5NGJkOGNjMjYxZWMwNzQzOGRfNTQ5NzU1ODEzODkyMg_78eb297b-6eeb-4f26-b637-566895d38ff9">100</ix:nonFraction>%)</span></div></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i468cb9529d75406380d18d89843b75d0_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzUtMS0xLTEtNTEwNDQy_a795312b-ff38-4095-bb3f-eea55fbd782d">3,054</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6de1fe5915aa4613832ae63c14e036ee_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTpjNWE4OWFjNTI3ZTU0ZGQzOWUzODI0NzEzMDBkNDhjOC90YWJsZXJhbmdlOmM1YTg5YWM1MjdlNTRkZDM5ZTM4MjQ3MTMwMGQ0OGM4XzUtNi0xLTEtNTEwNDQy_a276cfed-38ad-4ff0-85a8-49f092cc5d7e">456</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo4ZWZiMjYzZmFjNzI0NjhlYTJhOGY4YjA0MDM3YjlkOS90YWJsZXJhbmdlOjhlZmIyNjNmYWM3MjQ2OGVhMmE4ZjhiMDQwMzdiOWQ5XzEwLTEtMS0xLTcxMTI1MA_4791eab4-4eec-413a-bf56-ab7f0c7b2042">130</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9e4682bf359b46bab650fba38d60c456_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo4ZWZiMjYzZmFjNzI0NjhlYTJhOGY4YjA0MDM3YjlkOS90YWJsZXJhbmdlOjhlZmIyNjNmYWM3MjQ2OGVhMmE4ZjhiMDQwMzdiOWQ5XzEwLTEtMS0xLTUxMDQ0Mg_c121c65d-ee02-4fb7-a7f9-1c4d2375b03d">103</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9e4682bf359b46bab650fba38d60c456_D20210101-20211231" decimals="-6" name="ifrs-full:OperatingExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo4ZWZiMjYzZmFjNzI0NjhlYTJhOGY4YjA0MDM3YjlkOS90YWJsZXJhbmdlOjhlZmIyNjNmYWM3MjQ2OGVhMmE4ZjhiMDQwMzdiOWQ5XzExLTEtMS0xLTUxMDQ0Mg_068133b5-eb93-4b99-b274-63bf2c444576">29</ix:nonFraction>&#160;</span></td><td style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:nonNumeric><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Payables to associates and joint ventures" includes the obligation at December 31, 2021 in relation to the O2 UK pension plans arising as a result of the constitution of VMED O2 UK Ltd. amounting to <ix:nonFraction unitRef="gbp" contextRef="i094082cdfe23435ab3a45f7e717f4e15_I20211231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzYxOTc_309f8a61-ca30-429b-8d8f-b1088b354680">213</ix:nonFraction> million pounds sterling (<ix:nonFraction unitRef="eur" contextRef="i094082cdfe23435ab3a45f7e717f4e15_I20211231" decimals="-6" name="ifrs-full:CommitmentsInRelationToJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzYyMjU_fe7b2472-54b4-4242-b400-b060fca212ba">253</ix:nonFraction> million euros at closing exchange rate of 2021, see Note 22) and that it has been paid in 2022 (see Note 28).  </span></div><div><span><br/></span></div><div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Movistar Prosegur Alarmas</span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div><span><br/></span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.492%"></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2021 Movistar Prosegur Alarmas, S.L. (formerly Prosegur Alarmas Espa&#241;a, S.L.) acquired <ix:nonFraction unitRef="number" contextRef="i2f0c7aaf7f9d491f88752ee681378bc9_I20210731" decimals="2" name="tef:ProportionOfOwnershipInterestInEquityMethodInvestment" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzY0MDk_991c7cd2-fd61-4477-a2ad-b16132418f90">100</ix:nonFraction>% of Prosegur Soluciones, S.A.U.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i85850860f7564ffd9585252312a2ac07" continuedAt="i0314fd4eea87425e8cd73ec522426696">The breakdown of the key financial highlights of Movistar Prosegur Alarmas group 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:</ix:continuation></span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-54</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="icd7983c52c1f4596b4d280a71939873c" continuedAt="ie00d987493264afc9ed246244ec00d74"><div><ix:continuation id="i0314fd4eea87425e8cd73ec522426696"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:70.976%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31949cd26faf4760a945730902ca7e80_I20221231" decimals="-6" name="ifrs-full:Assets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzItMS0xLTEtNzU2MzAx_31de3187-6032-4660-88b0-59a5434e6e73">352</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia252467ea3ae40928f337d00dde32496_I20211231" decimals="-6" name="ifrs-full:Assets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzItMS0xLTEtNTEwNDQy_77b0dc60-9e69-411f-ad9b-4003919a9127">224</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia252467ea3ae40928f337d00dde32496_I20211231" decimals="-6" name="ifrs-full:Liabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzMtMS0xLTEtNTEwNDQy_d902800d-a376-4463-98dd-2ff182dd1a18">202</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia252467ea3ae40928f337d00dde32496_I20211231" decimals="-6" name="tef:NetAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzQtMS0xLTEtNTEwNDQy_8d0320e6-ce64-4694-9d2e-d97431c5ddf1">22</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Purchase price allocation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31949cd26faf4760a945730902ca7e80_I20221231" decimals="-6" name="tef:IdentifiableAssetsAcquired" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzYtMS0xLTEtNzU2MzAx_21445a84-dda7-454b-91fa-e94183feef45">136</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia252467ea3ae40928f337d00dde32496_I20211231" decimals="-6" name="tef:IdentifiableAssetsAcquired" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzYtMS0xLTEtNTEwNDQy_dc1280fe-91cc-4c26-bc18-776f625afa4a">146</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic84dfbffb6564fbdb825367aaae51254_D20210101-20211231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzktMS0xLTEtNTEwNDQy_1f0ab339-47c5-4e47-97ca-e9a0ab8c093d">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzEwLTEtMS0xLTc1NjMwMQ_adc0e24c-97b4-4cdc-b0a6-93a63c307c5a">54</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia252467ea3ae40928f337d00dde32496_I20211231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzEwLTEtMS0xLTUxMDQ0Mg_44d7829b-50d6-4c8d-aa0f-912819be6c00">65</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31949cd26faf4760a945730902ca7e80_I20221231" decimals="-6" name="ifrs-full:Goodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzExLTEtMS0xLTc1NjMwMQ_fdd47725-066f-4507-bf5d-9b48342cfb96">198</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia252467ea3ae40928f337d00dde32496_I20211231" decimals="-6" name="ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzEyLTEtMS0xLTUxMDQ0Mg_3414960c-3adb-4515-9e6f-4d474cd3dc36">263</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></ix:continuation></div><div style="margin-bottom:5pt;margin-top:5pt"><span><br/></span></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">FiBrasil</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 2, 2021, Telef&#243;nica Brasil, S.A. ("Vivo") and Telef&#243;nica Infra, S.L., infrastructures unit of Telef&#243;nica&#180;s Group ("T. Infra"), reached an agreement with Caisse de d&#233;p&#244;t et placement du Quebec ("CDPQ") for the construction, development and operation of a fiber (FTTH) network in Brazil, in mid-sized cities outside the State of Sao Paulo, through a joint venture entity, FiBrasil Infraestructura e Fibra &#211;tica S.A. ("FiBrasil"). 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Infra in the equivalent economic terms, for a <ix:nonFraction unitRef="number" contextRef="id33f9454bc3c4278acd21a097dc6df65_D20210702-20210702" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzc3MTM_c6aec89e-164b-48a9-ad30-d391ca35ac48">25</ix:nonFraction>% stake in FiBrasil. CDPQ&#180;s capital contributions, in addition to expected leverage to be raised by the joint venture, will provide a fully funded business plan to accomplish FiBrasil&#180;s deployment targets.</span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Breakdown of balances and transactions with associates and joint ventures</span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.492%"></div></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfStatementOfFinancialPositionAndIncomeStatementOfAssociatesAndJointVenturesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg2OTM_5abf4e53-7cda-4a56-b959-04bbbba9cce6" continuedAt="i69120b9180214b58a2fa1a92b5c2ade5" escape="true"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:22.248%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.677%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="9" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span 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style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i41ad41126acb404e90ab5df952567c44_I20221231" decimals="-6" name="tef:LongTermContractualLiabilitiesFromAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo0NWIxZDg2MjZjMzg0MjI5YTU2MzhlYjk5MzExMWY3OC90YWJsZXJhbmdlOjQ1YjFkODYyNmMzODQyMjlhNTYzOGViOTkzMTExZjc4XzYtMy0xLTEtNTEwNDQy_e7a0e633-5a1d-4f82-a4ae-9a670bc42fb5">133</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term contractual liabilities to associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8ca0513d05d42c48aae389569228217_I20221231" decimals="-6" name="tef:ShortTermContractualLiabilitiesFromAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo0NWIxZDg2MjZjMzg0MjI5YTU2MzhlYjk5MzExMWY3OC90YWJsZXJhbmdlOjQ1YjFkODYyNmMzODQyMjlhNTYzOGViOTkzMTExZjc4XzgtMS0xLTEtNTEwNDQy_d5b13fbf-dea6-4f6f-a9fa-653ef46a7178">7</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt 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style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i41ad41126acb404e90ab5df952567c44_I20221231" decimals="-6" name="tef:ShortTermContractualLiabilitiesFromAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo0NWIxZDg2MjZjMzg0MjI5YTU2MzhlYjk5MzExMWY3OC90YWJsZXJhbmdlOjQ1YjFkODYyNmMzODQyMjlhNTYzOGViOTkzMTExZjc4XzgtMy0xLTEtNTEwNDQy_0b53de5c-9567-4892-88fc-d92367a7999b">19</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id66ea35c375a4f1692a0d2a54d1ca046_I20211231" decimals="-6" name="tef:ShortTermContractualLiabilitiesFromAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo0NWIxZDg2MjZjMzg0MjI5YTU2MzhlYjk5MzExMWY3OC90YWJsZXJhbmdlOjQ1YjFkODYyNmMzODQyMjlhNTYzOGViOTkzMTExZjc4XzgtNS0xLTEtNTEwNDQy_e81b2310-63d6-4b04-92a2-53f2da054a11">8</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo0NWIxZDg2MjZjMzg0MjI5YTU2MzhlYjk5MzExMWY3OC90YWJsZXJhbmdlOjQ1YjFkODYyNmMzODQyMjlhNTYzOGViOTkzMTExZjc4XzgtNS0xLTEtOTI3ODEw_8520e9d9-af7f-45e2-a4f1-1e1c5da3e545">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i048f6ec83e9c4d75bcb5a1d27f7d96aa_I20211231" decimals="-6" name="tef:OtherLiabilitiesAssociatesAndJointVentures" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTo0NWIxZDg2MjZjMzg0MjI5YTU2MzhlYjk5MzExMWY3OC90YWJsZXJhbmdlOjQ1YjFkODYyNmMzODQyMjlhNTYzOGViOTkzMTExZjc4XzgtNi0xLTEtOTI3ODEw_4289fe1b-b90f-4702-8c07-d1a07c298f77">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-top:12pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-55</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie00d987493264afc9ed246244ec00d74"><div><ix:continuation id="i69120b9180214b58a2fa1a92b5c2ade5"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"></td><td style="width:22.611%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.472%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.000%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.472%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.000%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.558%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.767%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.000%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.562%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i45337efe237140e1bdea40104c58a7c2_D20200101-20201231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTplZjBhNmE2MGE3N2M0ZjQzOTBmZDg5Zjg2ODJlZGRmZi90YWJsZXJhbmdlOmVmMGE2YTYwYTc3YzRmNDM5MGZkODlmODY4MmVkZGZmXzUtOS0xLTEtNTEwNDQy_5e308535-1191-488c-a99a-21d9bb48e88c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Credits and other financial assets from associates and joint ventures" at December 31, 2022 includes <ix:nonFraction unitRef="eur" contextRef="iaf293c9fd35d45c995486bd0b77cc38f_I20221231" decimals="-6" name="tef:LongTermCreditsToAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTI4MjY_9fb5e4fd-1aa1-48f3-b84c-5640845b3885">82</ix:nonFraction> million euros of loans and <ix:nonFraction unitRef="eur" contextRef="i5ddd26d35b96480b8498bb66fb68bb30_I20221231" decimals="-6" name="tef:LongTermCreditsToAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjk2NzY_531e2a1d-f5c5-4b61-870f-e1441b9a83a2">59</ix:nonFraction> million euros of trade receivables granted by Colombia Telecomunicaciones, S.A. ESP BIC to the associate company &#193;lamo Holdco, S.L. and it subsidiary Onnet Fibra Colombia S.A.S., respectively. Additionally, this line includes <ix:nonFraction unitRef="eur" contextRef="if8943e087c544050b463148bb7684582_I20221231" decimals="-6" name="tef:LongTermCreditsToAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTI4MzE_508b34f1-2c92-4150-92e9-1ac9c35a8628">75</ix:nonFraction> million euros corresponding to the subordinated debt granted by Telef&#243;nica Chile to the associate company HoldCo Infraco, SpA. generated by the sale of <ix:nonFraction unitRef="number" contextRef="i9b21dca8b3894af8b59ffd6db059c8b5_I20211231" decimals="2" name="tef:ProportionOfOwnershipInterestInJointVentureDisposal" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTI4Mzc_873c137b-e46d-4c21-b2ff-aa0ebd805a88">40</ix:nonFraction>% of the fiber optic business (<ix:nonFraction unitRef="eur" contextRef="i03783382a3064559b26d61b82deda837_I20211231" decimals="-6" name="tef:LongTermCreditsToAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNTI4NDI_80923d77-47a8-4282-ac13-1f51c4677b40">87</ix:nonFraction> million euros as of December 31, 2021, see Note 12).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Long-term contractual liabilities to associates and joint ventures" at December 31, 2022 includes <ix:nonFraction unitRef="eur" contextRef="ib16978d4c2b041a3b9e8024fd9c6767e_I20221231" decimals="-6" name="tef:LongTermContractualLiabilitiesToAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjkzMzg_86432f64-a8de-469e-bbc5-0d05932fa208">82</ix:nonFraction> million euros corresponding to Colombia Telecomunicaciones, S.A. ESP BIC with the associate company Onnet Fibra Colombia, S.A.S.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Revenue from operations with associates and joint ventures" in 2022 mainly includes <ix:nonFraction unitRef="eur" contextRef="i398d703dbd2e44ea82843c9998ec0298_D20220101-20221231" decimals="-6" name="tef:RevenueFromOperationsWithAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMwMzc_d7e6871c-3bfa-4046-ac9c-8aaf7fd80602">88</ix:nonFraction> million euros corresponding to the transactions of the Group with the associate company HoldCo Infraco SpA (<ix:nonFraction unitRef="eur" contextRef="i993c5add84904b0d80be16de5263ebc6_D20210101-20211231" decimals="-6" name="tef:RevenueFromOperationsWithAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMwNTM_4e6dbd2e-0e94-4235-b88d-9c70155d7d99">52</ix:nonFraction> million euros in 2021) and <ix:nonFraction unitRef="eur" contextRef="i56d0ac05aeae49898f8fc204252617fb_D20220101-20221231" decimals="-6" name="tef:RevenueFromOperationsWithAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMwNTc_6b44d67c-4d10-44b0-9dc2-730131e2e2a4">97</ix:nonFraction> million euros with the associate company Onnet Fibra Colombia, S.A.S. In 2021 it included <ix:nonFraction unitRef="eur" contextRef="i5944d79dbbfa4b9c87ce752def27380c_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMwNjE_4a69a705-d44d-4a46-ba00-bda3d6b34a1e">98</ix:nonFraction> million euros corresponding to the transactions of the Group with the joint venture Tesco Mobile Ltd. from January 1, to the date of the incorporation of VMED O2 UK (<ix:nonFraction unitRef="eur" contextRef="i382445b0c27e47aa8da245c9212b9c87_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMwNjU_ff4b17d7-00ea-46c5-854a-377a3c334a0e">232</ix:nonFraction> million euros in 2020).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Expenses from operations with associates and joint ventures" in 2022 mainly includes <ix:nonFraction unitRef="eur" contextRef="i29e9d54271a94cefbf7f103ec19bce99_D20220101-20221231" decimals="-6" name="tef:ExpensesFromOperationsWithAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMwOTE_70a3f796-fd83-4f51-b43c-cd2959360613">121</ix:nonFraction> million euros corresponding to the transactions of the Group with the associate company HoldCo Infraco SpA (<ix:nonFraction unitRef="eur" contextRef="i801c40e76c534e17bd118b3f3ccbb4c2_D20210101-20211231" decimals="-6" name="tef:ExpensesFromOperationsWithAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMwOTY_c5c97dc0-c430-4606-b4a8-550eb5ed565d">50</ix:nonFraction> million euros in 2021) and <ix:nonFraction unitRef="eur" contextRef="i398d703dbd2e44ea82843c9998ec0298_D20220101-20221231" decimals="-6" name="tef:ExpensesFromOperationsWithAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzU0OTc1NTgxNjMxMDA_bd0f2f8c-86c3-4753-abff-d486a69d8565">39</ix:nonFraction> million euros with the associate company &#193;lamo Holdco, S.L.</span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div><span><br/></span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"></div><div style="display:inline-block;vertical-align:top;width:46.492%"></div></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-56</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_1099511631493"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 11. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfRelatedPartyExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yNzQ4Nzc5MDgyMzUw_2b062a72-b50d-4528-8646-5082a7a33ae7" continuedAt="icb71bb62a1b7413dafad92ca9c43d1eb" escape="true">Related parties</ix:nonNumeric></span></div><ix:continuation id="icb71bb62a1b7413dafad92ca9c43d1eb" continuedAt="iaf8201713cb2495cab22ac53f406593e"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Significant shareholders </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The significant shareholders of the Company are Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), CaixaBank, S.A. and BlackRock, Inc.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the information provided by CaixaBank, S.A. for the 2022 Annual Report Corporate Governance, as updated per share capital of Telef&#243;nica, S.A. as of December 31, 2022, the shareholding of CaixaBank, S.A. in Telef&#243;nica&#8217;s share capital were <ix:nonFraction unitRef="number" contextRef="ic47ac4c2a0464597b1b97ebe984a1b38_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xNTM5MzE2Mjc5OTUxNw_523d2610-9ded-4006-bb9e-c72ed0019b2f">3.50</ix:nonFraction>%. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the information provided by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) for the 2022 Annual Report on Corporate Governance, as updated per share capital of Telef&#243;nica, S.A. as of December 31, 2022, the shareholding of BBVA in Telef&#243;nica&#8217;s share capital were <ix:nonFraction unitRef="number" contextRef="i38da716dbffc4ce3ade3ea5d9a384ec3_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xNTM5MzE2Mjc5OTUzMg_5b4ae08a-54e4-4e10-b32a-912f1f374493">4.87</ix:nonFraction>%. Likewise, and according to the aforementioned information provided by BBVA, the percentage of economic rights attributed to Telef&#243;nica, S.A. shares owned by BBVA amounts to <ix:nonFraction unitRef="number" contextRef="i38da716dbffc4ce3ade3ea5d9a384ec3_D20220101-20221231" decimals="4" name="tef:ProportionOfOwnershipSharesHeld" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xNTM5MzE2Mjc5OTUzOQ_699fe8e2-8e05-4d44-87c5-babf1de6e94e">4.97</ix:nonFraction>% of the Company's share capital. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the information notified by BlackRock, Inc to the CNMV on March 31, 2020, as updated per the share capital of Telef&#243;nica, S.A. as of December 31, 2022, the shareholding of BlackRock, Inc in Telef&#243;nica&#8217;s share capital were <ix:nonFraction unitRef="number" contextRef="i5c6a7c9f21ed41dbaa649ef8421d6550_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MDA5NQ_9af02fef-3dbd-43f1-b5e7-521b1abe7531">4.48</ix:nonFraction>%. Based on the Schedule 13G/A filed with the SEC, on October 7, 2022, BlackRock, Inc. beneficially owned <ix:nonFraction unitRef="number" contextRef="i2517945a4ef94e3cb94e5a29c48f6b28_D20221007-20221007" decimals="4" name="tef:ProportionOfOwnershipSharesHeld" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MDEwMg_df2add42-e44c-4bed-9c9d-cf988ce55e86">4.96</ix:nonFraction>% of Telef&#243;nica, S.A. shares and <ix:nonFraction unitRef="number" contextRef="i2517945a4ef94e3cb94e5a29c48f6b28_D20221007-20221007" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MDEwOQ_d272f4fb-e2d0-4f72-a995-8d42680cc0ba">4.49</ix:nonFraction>% of voting rights.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022 and 2021, the Group carried out no significant transactions with BlackRock, Inc. other than the corresponding dividends paid. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a summary of significant transactions between the Telef&#243;nica Group and BBVA and CaixaBank companies, other than the payment of the dividend corresponding to its shareholding. All transactions were carried out at market prices.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Participated companies</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 20, 2020, Telef&#243;nica Digital Espa&#241;a, S.L.U. and Compa&#241;&#237;a Chilena de Inversiones, S.L., an affiliated company of BBVA, entered into an agreement related to the incorporation of a subsidiary in Colombia with the aim of commercializing loans to consumers and SME in such country. On January 5, 2021, this company was incorporated as a <ix:nonFraction unitRef="number" contextRef="ie281461c11ac4d6da598b628038fc4fb_D20210105-20210105" decimals="2" name="ifrs-full:ProportionOfVotingRightsHeldInJointVenture" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA0Nw_59f2be32-3899-43c5-9bcd-b1b882a30a60">50</ix:nonFraction>/50 joint venture between the two companies, under the name Movistar Consumer Finance Colombia, S.A.S (see Note 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Telef&#243;nica Group holds a <ix:nonFraction unitRef="number" contextRef="i98d3f6a733704896868aa41b67463918_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA1MQ_96307e73-446d-4772-8c5d-9082d9ce9f0a">50</ix:nonFraction>% interest in Telef&#243;nica Consumer Finance, E.F.C., S.A., a company controlled by CaixaBank (see Note 10).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Telef&#243;nica Group and BBVA each hold a <ix:nonFraction unitRef="number" contextRef="i2cb4e3215cee4174835fe18582627cde_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA1Ng_0a37ca15-f230-4cda-8226-9d07fbad8cc0"><ix:nonFraction unitRef="number" contextRef="idcbb79463035485eb156e110f0bfd948_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA1Ng_af86acf7-cf25-4b70-892c-fd75df9af17e">44.44</ix:nonFraction></ix:nonFraction>% interest in the joint venture Adquira Espa&#241;a, S.A. (see Note 10).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Telef&#243;nica Group has a <ix:nonFraction unitRef="number" contextRef="i7b22c9db486c4649b20b22325024129a_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA2NA_a18c22f4-d4fe-449a-95c6-f87c43eb517c">50</ix:nonFraction>% interest in Telef&#243;nica Factoring Espa&#241;a and its subsidiaries in Brazil, Peru, Colombia, Mexico, Chile and Ecuador, accounted for by the equity method (see Note 10), in which BBVA and CaixaBank have minority interests.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">On July 21, 2022, Telef&#243;nica, S.A. and CaixaBank Payments and Consumer E.F.C., E.P., S.A. incorporated the company Telef&#243;nica Renting, S.A. <ix:nonFraction unitRef="number" contextRef="icf5fec259717427396036b0f69676f80_D20220721-20220721" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA2OQ_f12fa490-b7be-4776-a38b-f01ae00504c9">50</ix:nonFraction>% each. This company is controlled by CaixaBank.</span></div><div style="text-align:justify"><span><br/></span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yNzQ4Nzc5MDgxNDQw_c35f8540-6fa2-4257-8de3-ab0679989b81" continuedAt="i0116bd767b7e4563ae3bd6c32f61c221" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The balances as of December 31, 2022 and 2021, and the transactions carried out in 2022 and 2021 of Telef&#243;nica Group companies with the aforementioned associates and joint ventures in which BBVA and CaixaBank hold interests are shown below:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.765%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.467%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.468%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures for current operations</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ied992f7cfc214f04abe16b816df46859_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherReceivablesDueFromRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6YmEyZWJlYjA1MTI4NGE5Y2E5MzQzN2M2MDIxYjA0ODMvdGFibGVyYW5nZTpiYTJlYmViMDUxMjg0YTljYTkzNDM3YzYwMjFiMDQ4M18zLTEtMS0xLTEwMDI4Mjc_ad4448e2-13b4-4c05-8936-b0cefcd15d7d">7</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id09b25c0cd1d452da9d0c7eeae122083_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherReceivablesDueFromRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6YmEyZWJlYjA1MTI4NGE5Y2E5MzQzN2M2MDIxYjA0ODMvdGFibGVyYW5nZTpiYTJlYmViMDUxMjg0YTljYTkzNDM3YzYwMjFiMDQ4M18zLTItMS0xLTEwMDI4Mjc_4fcddda1-44ea-4723-b397-e1aadebe9aa7">6</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures</span></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ied992f7cfc214f04abe16b816df46859_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesToRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6YmEyZWJlYjA1MTI4NGE5Y2E5MzQzN2M2MDIxYjA0ODMvdGFibGVyYW5nZTpiYTJlYmViMDUxMjg0YTljYTkzNDM3YzYwMjFiMDQ4M182LTEtMS0xLTEwMDI4Mjc_52ccd0fa-7ef9-4176-9b64-a74d216ff1da">7</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id09b25c0cd1d452da9d0c7eeae122083_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesToRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6YmEyZWJlYjA1MTI4NGE5Y2E5MzQzN2M2MDIxYjA0ODMvdGFibGVyYW5nZTpiYTJlYmViMDUxMjg0YTljYTkzNDM3YzYwMjFiMDQ4M182LTItMS0xLTEwMDI4Mjc_9e0ba0f7-44ee-47d2-bdc4-190c290bffab">36</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-57</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="iaf8201713cb2495cab22ac53f406593e" continuedAt="ie39efb23595d48bda067f6d9e7367d48"><div style="text-align:justify"><ix:continuation id="i0116bd767b7e4563ae3bd6c32f61c221" continuedAt="ife84617722f8427992d530b2419f01aa"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.911%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.467%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.322%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7a44b418f7414b12b26cbcc100c268ff_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OTQ1M2YyMTljMTJlNDBlMWFkMWUwYTRmZjRjZjQyOTEvdGFibGVyYW5nZTo5NDUzZjIxOWMxMmU0MGUxYWQxZTBhNGZmNGNmNDI5MV8xLTEtMS0xLTEwMDI4Mzc_af111b31-442c-4e50-b9f6-d381dccada3d">13</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i58eb5a00f48646849a55d29d93e2c478_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OTQ1M2YyMTljMTJlNDBlMWFkMWUwYTRmZjRjZjQyOTEvdGFibGVyYW5nZTo5NDUzZjIxOWMxMmU0MGUxYWQxZTBhNGZmNGNmNDI5MV8xLTItMS0xLTEwMDI4Mzc_5f9348e8-1a67-4826-80c5-d34ae77d5e61">13</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7a44b418f7414b12b26cbcc100c268ff_D20220101-20221231" decimals="-6" name="tef:ExpensesFromOperationsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OTQ1M2YyMTljMTJlNDBlMWFkMWUwYTRmZjRjZjQyOTEvdGFibGVyYW5nZTo5NDUzZjIxOWMxMmU0MGUxYWQxZTBhNGZmNGNmNDI5MV8yLTEtMS0xLTEwMDI4Mzc_6c3daf6d-f9c7-4d6a-abb8-d43560bc896f">7</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i58eb5a00f48646849a55d29d93e2c478_D20210101-20211231" decimals="-6" name="tef:ExpensesFromOperationsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OTQ1M2YyMTljMTJlNDBlMWFkMWUwYTRmZjRjZjQyOTEvdGFibGVyYW5nZTo5NDUzZjIxOWMxMmU0MGUxYWQxZTBhNGZmNGNmNDI5MV8yLTItMS0xLTEwMDI4Mzc_8683898e-a6c2-4342-a442-37f49840cc99">9</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance cost from operations with associates and joint ventures</span></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7a44b418f7414b12b26cbcc100c268ff_D20220101-20221231" decimals="-6" name="tef:FinanceCostFromOperationsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OTQ1M2YyMTljMTJlNDBlMWFkMWUwYTRmZjRjZjQyOTEvdGFibGVyYW5nZTo5NDUzZjIxOWMxMmU0MGUxYWQxZTBhNGZmNGNmNDI5MV80LTEtMS0xLTEwMDI4Mzc_83fa369e-da6f-4cb5-9bf0-a42bcfd7b9c4">1</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i58eb5a00f48646849a55d29d93e2c478_D20210101-20211231" decimals="-6" name="tef:FinanceCostFromOperationsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OTQ1M2YyMTljMTJlNDBlMWFkMWUwYTRmZjRjZjQyOTEvdGFibGVyYW5nZTo5NDUzZjIxOWMxMmU0MGUxYWQxZTBhNGZmNGNmNDI5MV80LTItMS0xLTEwMDI4Mzc_827882d9-8b09-4d0e-b024-bd7e33955c20">1</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></ix:continuation></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Derivatives</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The net fair value of the outstanding derivatives as of December 31, 2022 contracted with BBVA and CaixaBank amounts to <ix:nonFraction unitRef="eur" contextRef="ida4754d4ca13445b88ed36fe10dd4286_I20221231" decimals="-6" name="ifrs-full:CreditDerivativeFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA3NA_9e0f1f5e-5f26-4657-8766-717729f8d432">185</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i41af24c583384146a204ae7c50fbfca6_I20221231" decimals="-6" name="ifrs-full:CreditDerivativeFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA3OQ_44931e86-21d4-43b9-b241-0463445f9d9f">41</ix:nonFraction> million euros, respectively (<ix:nonFraction unitRef="eur" contextRef="iaff5f455014d4476925ed0e74ac4a7fc_I20211231" decimals="-6" name="ifrs-full:CreditDerivativeFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA4Mw_f1b504e9-c77a-4d0a-b3ca-4e88bbec8bc0">314</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="if71c08a5c0324878a8fe09d986e0dee8_I20211231" decimals="-6" name="ifrs-full:CreditDerivativeFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA4OA_19c2db96-8148-40d7-9ae3-e307948c429b">26</ix:nonFraction> million euros, respectively, as of December 31, 2021). </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The nominal value of these derivatives amounted to <ix:nonFraction unitRef="eur" contextRef="ida4754d4ca13445b88ed36fe10dd4286_I20221231" decimals="-6" name="ifrs-full:CreditDerivativeNominalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA5OQ_a4dc05d7-3949-4e76-873e-95eb8ce647b6">5,778</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i41af24c583384146a204ae7c50fbfca6_I20221231" decimals="-6" name="ifrs-full:CreditDerivativeNominalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTEwNg_313e51ed-a257-4873-9fc9-e7a3e6368ee1">264</ix:nonFraction> million euros, respectively (<ix:nonFraction unitRef="eur" contextRef="iaff5f455014d4476925ed0e74ac4a7fc_I20211231" decimals="-6" name="ifrs-full:CreditDerivativeNominalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA5Mg_37023fc2-9e1f-4ba9-8526-739f3747f23d">6,664</ix:nonFraction> million euros with BBVA and <ix:nonFraction unitRef="eur" contextRef="if71c08a5c0324878a8fe09d986e0dee8_I20211231" decimals="-6" name="ifrs-full:CreditDerivativeNominalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTExMQ_b11e6075-b584-42e5-96b2-4723c4247c69">264</ix:nonFraction> million euros with CaixaBank in 2021). As explained in the 'Derivatives policy' section of Note 19, this volume is so high because derivatives can be applied several times to the same underlying asset for an amount equal to its face value. As of December 31, 2022, the derivatives contracted with BBVA and CaixaBank account for approximately <ix:nonFraction unitRef="number" contextRef="iff961b40c69746298ced72cff8611078_I20221231" decimals="2" name="tef:CreditDerivativesToTotalPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTExNg_d354a702-0156-496f-8be3-229ad0f33499">7</ix:nonFraction>% of the total amount of outstanding derivatives contracted by the Group with external counterparties (see Note 19).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Additionally, at December 31, 2022, collateral guarantees on derivatives from BBVA and CaixaBank have been received, amounting to <ix:nonFraction unitRef="eur" contextRef="ie03f570dc055441d94e6dcdc16a94b37_D20220101-20221231" decimals="-6" name="ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTEyMA_26b068d9-d905-48d3-8140-215b3f6b4e47">236</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="ie7f1ce32c327454c978b2042ad1d63d2_D20220101-20221231" decimals="-6" name="ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTEyNQ_2f7200c8-97dc-4c71-a417-df8c81c78524">43</ix:nonFraction> million euros, respectively (<ix:nonFraction unitRef="eur" contextRef="iec284d0de3c9476488ca706bb1f8d1fa_D20210101-20211231" decimals="-6" name="ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTEyOQ_9c5136a6-f262-4805-8d4a-c69f492991f8">262</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="idc3e6ebc6e6249a4999cf4fa89e1e9dc_D20210101-20211231" decimals="-6" name="ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTEzNA_34a469cb-8b07-412c-9d6d-0401a6646e52">21</ix:nonFraction> million euros respectively at December 31, 2021).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Renting operations with CaixaBank</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In mid-2021, a new Fusion portfolio came into force that included a rental device. The Group has an agreement with CaixaBank to in turn rent these devices (a model known as "rent to rent"), covered by a framework financing agreement previously formalized between Telef&#243;nica and CaixaBank. In 2022, the volume of these operations with CaixaBank amount to <ix:nonFraction unitRef="eur" contextRef="i4dbd349eba3445758b1e8d16c0b9bb70_D20220101-20221231" decimals="-6" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTEzOA_a5cb227f-e156-4b21-8703-a9e9c7bafc3c">405</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ib36718bfd4e84646ad142f9a8fc1f5cd_D20210101-20211231" decimals="-6" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE0Nw_6a318e46-4c0a-4856-890a-0f66267418cf">186</ix:nonFraction> million euros in 2021) which have involved <ix:nonFraction unitRef="eur" contextRef="i4dbd349eba3445758b1e8d16c0b9bb70_D20220101-20221231" decimals="-6" name="ifrs-full:ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE1Mg_6e1a5537-e6df-4120-b29e-2c3dad0251c2">19</ix:nonFraction> million euros in financial expenses.  As of December 31, 2022, the balance of the account payable to CaixaBank amounted to <ix:nonFraction unitRef="eur" contextRef="i0589ddebe1444189ac3baaf009b0d87f_I20221231" decimals="-6" name="ifrs-full:OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE1Ng_ec7d6b65-0a25-4576-a27b-c0db841316ca">501</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i46e203d146204ec698795b10325e6fae_I20211231" decimals="-6" name="ifrs-full:OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE2MQ_da98c750-c365-4b88-b884-ade40cf65ae4">176</ix:nonFraction> million euros as of December 31, 2021).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Likewise, the Group carries out other equipment rental operations with CaixaBank (equipment at customers' homes, such as routers or decoders). In 2022, the volume of this equipment leasing transactions was <ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="tef:PurchaseOfAssetsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE2Ng_b89e608a-9780-4b10-b759-395837c34613">82</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="tef:PurchaseOfAssetsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE3MA_6322c21f-7512-4063-9ceb-9cc87d64bef0">92</ix:nonFraction> million euros in 2021), with financial expenses amounting to <ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="ifrs-full:ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xMDk5NTExNjQzNDA2_37d636f7-8ce7-4527-9549-d2ddfe46b779">3</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="ifrs-full:ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xMDk5NTExNjQzNDA5_9b83795e-b06c-45eb-8837-2012f62d06b0">1</ix:nonFraction> million euros in 2021). As of December 31, 2022, the debt with CaixaBank for these concepts amounts to <ix:nonFraction unitRef="eur" contextRef="i31c32cf4f32d425ca592dd2dd20609f9_I20221231" decimals="-6" name="ifrs-full:OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE3OA_5faf36d9-056a-4662-bae9-4da4aea50ad4">119</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ia1b649b1f84d4126ae3bcb4ca999d44f_I20211231" decimals="-6" name="ifrs-full:OutstandingCommitmentsMadeByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE3NA_c0264f6d-e6fe-49c5-b2fd-e1915a145138">73</ix:nonFraction> million euros in 2021).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Other operations</span></div><div style="text-align:justify"><span><br/></span></div><ix:continuation id="ife84617722f8427992d530b2419f01aa" continuedAt="id12d8c97cf724fc2a659b5ffb505cb87"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The impact on the consolidated income statement of the Telef&#243;nica Group of the rest of the operations with BBVA and CaixaBank in 2022 and 2021 is shown below:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.866%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BBVA</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18yLTEtMS0xLTk5MzI3OQ_243e89a2-369f-4d6e-aaba-671698a7de99">11</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18yLTItMS0xLTk5MzMwNg_328ffe44-27a8-4791-b47c-f7a0dd6faa5f">8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receipt of services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18zLTEtMS0xLTk5MzMxOQ_b9d018d2-2ebe-46ac-9faa-c910a69ed31b">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18zLTItMS0xLTk5MzMyMw_859e9fc4-8de7-4f84-ada9-5c2e537f4c55">14</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y180LTEtMS0xLTk5MzM0OQ_227ed95f-475b-492d-89af-ed190c5ce45c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y180LTItMS0xLTk5MzM1OA_96f593ef-f616-4ea4-9e5c-f42d563f7516">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:OtherExpensesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y181LTEtMS0xLTk5MzM2NQ_6ecfede4-0453-4650-a574-37f55cb1e5e1">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:OtherExpensesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y181LTItMS0xLTk5MzM2OQ_238196c9-9251-4894-a81a-a07e221f5f71">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:TotalExpensesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y182LTEtMS0xLTk5MzM3Mw_cefe5c86-15c9-49a9-bbe9-780885892613">21</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:TotalExpensesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y182LTItMS0xLTk5MzM3OA_566a7ce4-7491-409d-bdd8-a0812151e7b1">43</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:IncomeUnderFinanceAgreementsRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y183LTEtMS0xLTk5MzM5NA_ab8ef755-663e-480c-ae45-181d060031f5">14</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:IncomeUnderFinanceAgreementsRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y183LTItMS0xLTk5MzM5OA_3cc41e04-b6c9-4a10-b77a-344b83c468a3">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:DividendsReceivedRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y184LTEtMS0xLTk5MzQwNQ_636193e4-5fc0-4e60-bdcd-bed6c5ded8d3">15</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:DividendsReceivedRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y184LTItMS0xLTk5MzQxNA_69dda0ed-6a4b-45b8-b68f-08596de2726f">8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Services rendered</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y185LTEtMS0xLTk5MzQyMw_e366c5c6-863d-423d-98e1-3084aa685bf5">40</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y185LTItMS0xLTk5MzQzMQ_e322e880-cf46-406c-b93a-5b21cb163e0c">26</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18xMC0xLTEtMS05OTM0NDU_9dc04a18-a343-4fe2-a123-43e88343f7de">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18xMC0yLTEtMS05OTM0NTI_112188f3-9d62-449f-88a2-29f4273fc8a1">9</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:RevenueFromOtherSourcesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18xMS0xLTEtMS05OTM0NTc_0fd2c8ce-0f19-4f49-8ef5-65a984ad0d3b">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:RevenueFromOtherSourcesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18xMS0yLTEtMS05OTM0NjU_60a9a839-2745-4db8-8638-849202fd8db4">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total revenues</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:TotalRevenueRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18xMi0xLTEtMS05OTM0ODA_b8599292-3981-48b5-9c7d-14d3be34c2d7">83</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:TotalRevenueRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NmUyN2U1YjZiZmYyNDZkNWJkZjU2MmRkN2E5M2I4NmMvdGFibGVyYW5nZTo2ZTI3ZTViNmJmZjI0NmQ1YmRmNTYyZGQ3YTkzYjg2Y18xMi0yLTEtMS05OTM0ODU_45a3ff1a-1176-4b4c-a176-4c11e625eb3c">53</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline">(1)&#160; </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">At</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">December 31, 2022, Telef&#243;nica held a <ix:nonFraction unitRef="number" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE4OQ_4132b4d2-a48e-4ecc-985b-92dafb3e99fa">0.73</ix:nonFraction>% stake (<ix:nonFraction unitRef="number" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTE5Ng_6bbddbef-1cc6-415d-8bf9-e06388493bef">0.66</ix:nonFraction>% stake at December 31, 2021) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 12).</span></div></ix:continuation></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-58</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie39efb23595d48bda067f6d9e7367d48" continuedAt="ie6cc98a7f34c4e4292a8dd1579df0b46"><ix:continuation id="id12d8c97cf724fc2a659b5ffb505cb87"><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.866%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CaixaBank</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml8yLTEtMS0xLTk5MzUzOA_6456e5b6-0a48-4455-827c-9de90febf877">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="tef:TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" scale="6" 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unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml8zLTEtMS0xLTk5MzU2Mg_156c2371-b0ed-463e-96ad-0b7435b82beb">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="ifrs-full:ServicesReceivedRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml8zLTItMS0xLTk5MzU2Ng_11db6171-6465-411c-9329-1f6ef11039fe">10</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml80LTEtMS0xLTk5MzU3MQ_cea3baeb-a022-4310-b2fb-dc3f4833f6b0">53</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="ifrs-full:PurchasesOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml80LTItMS0xLTk5MzU3Ng_56b469da-3f3d-4205-9ca8-a381ac60ff89">57</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="tef:TotalExpensesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml81LTEtMS0xLTk5MzU5NQ_6d921b76-3558-4595-965d-b55e1d5a5d20">64</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="tef:TotalExpensesRelatedPartyTransaction" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml82LTEtMS0xLTk5MzYwMw_a176ad52-03c8-4738-9d97-804ec32fe912">69</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServicesRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml82LTItMS0xLTk5MzYxNA_913ef748-5978-426f-ae09-c0d16dba2580">83</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml83LTEtMS0xLTk5MzYzOA_09547e12-1bbb-4815-93dd-07f459252b7b">51</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml84LTEtMS0xLTk5MzY4Mw_bb347100-6505-4979-b5c3-7e51b3831655">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="tef:RevenueFromOtherSourcesRelatedPartyTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml84LTItMS0xLTk5MzY4OQ_4814efa2-6d2e-4165-a5cb-8d3df358bc76">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total revenues</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="tef:TotalRevenueRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6NTQyZTIwYmZmMTM5NGI1NTg0ZTA5YTM0ZjE2YzAwNzIvdGFibGVyYW5nZTo1NDJlMjBiZmYxMzk0YjU1ODRlMDlhMzRmMTZjMDA3Ml85LTEtMS0xLTk5MzY5Mw_465a9f6f-4c8d-4348-90ed-72620e0f6910">122</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The following table shows the balance sheet positions of these operations as of December 31, 2022 and 2021, as well as the current guarantees and other off-balance sheet positions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.866%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BBVA</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans, capital contributions and others (borrower)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="ifrs-full:TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OGI4OTRjMDJlNjU2NDY5MDg4YjI2NWVlOTY4YzdlNWUvdGFibGVyYW5nZTo4Yjg5NGMwMmU2NTY0NjkwODhiMjY1ZWU5NjhjN2U1ZV8yLTEtMS0xLTk5MzcxMQ_48722ec5-dde1-473c-94f6-56f14084687d">140</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="ifrs-full:TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Factoring operations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="tef:FactoringOperationsRelatedPartyTransactions" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OGI4OTRjMDJlNjU2NDY5MDg4YjI2NWVlOTY4YzdlNWUvdGFibGVyYW5nZTo4Yjg5NGMwMmU2NTY0NjkwODhiMjY1ZWU5NjhjN2U1ZV80LTEtMS0xLTk5MzgwOQ_14e3c0b3-9618-4b39-9cab-b4aa18e0faa0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="tef:FactoringOperationsRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OGI4OTRjMDJlNjU2NDY5MDg4YjI2NWVlOTY4YzdlNWUvdGFibGVyYW5nZTo4Yjg5NGMwMmU2NTY0NjkwODhiMjY1ZWU5NjhjN2U1ZV80LTItMS0xLTk5MzgxMw_c5a13865-a7b7-40de-b512-8d4abcb80abe">108</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guarantees</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1335653e06649b8ab61c71e9cdb0d0f_D20220101-20221231" decimals="-6" name="ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6OGI4OTRjMDJlNjU2NDY5MDg4YjI2NWVlOTY4YzdlNWUvdGFibGVyYW5nZTo4Yjg5NGMwMmU2NTY0NjkwODhiMjY1ZWU5NjhjN2U1ZV81LTEtMS0xLTk5MzgxNw_2d9bc92f-6fb8-4521-9645-ab37f0ca0e74">165</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e1382c11f894863a04e7b65b106b6f8_D20210101-20211231" decimals="-6" name="ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231" decimals="-6" name="ifrs-full:LeasesAsLesseeRelatedPartyTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM18zLTItMS0xLTk5Mzg0Mg_9c3fa4d6-5f4a-46e0-8bb8-ff825b420160">82</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guarantees</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231" decimals="-6" name="ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM181LTItMS0xLTk5Mzg2Nw_f3ee37cf-0616-4ba1-bd41-bee9bc3fbed4">190</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Other related parties </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The most significant balances and transactions with associates and joint ventures are detailed in Note 10.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">During 2022 and 2021, the Directors and senior executives performed no transactions with Telef&#243;nica, S.A. or any Telef&#243;nica Group company other than those in the Group&#8217;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. </span></div></ix:continuation><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><ix:continuation id="ie6cc98a7f34c4e4292a8dd1579df0b46" continuedAt="ie9c787760824462a86c659b0a61499a0"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Telef&#243;nica contracted a civil liability insurance scheme (D&amp;O) for Directors, managers and staff with similar functions in the Telef&#243;nica Group, with standard conditions for these types of insurance and a premium attributable to 2022 of <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="0" name="ifrs-full:UnearnedPremiums" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTIwMw_2ed35126-ea11-488e-8eaa-d4dbf79f7f09">6,598,467</ix:nonFraction> euros </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">(</span></ix:continuation><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"><ix:continuation id="ie9c787760824462a86c659b0a61499a0"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="0" name="ifrs-full:UnearnedPremiums" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTIxNA_6799648e-38ad-45e7-9295-d1393e60fe2b">5,303,931</ix:nonFraction> euros in 2021). This scheme provides coverage for Telef&#243;nica, S.A. and its subsidiaries in certain cases.</ix:continuation>  </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-59</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_310"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 12. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfFinancialAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzY3NDI_846d0b81-a6dc-4149-99ab-a6ad424e5e39" continuedAt="ifde083e4f520495e948e34163c62622d" escape="true">Financial assets and other non-current assets </ix:nonNumeric></span></div><div><span><br/></span></div><ix:continuation id="ifde083e4f520495e948e34163c62622d" continuedAt="i47fd1599d27d4f1f9494132fab06996f"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfDetailedInformationAboutChangesInNonCurrentFinancialAssetsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzY3NzM_298301e0-34aa-4b02-9681-b084433841f3" continuedAt="ie31341b30526458caad689101fd9a16a" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets and other non-current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:59.807%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.323%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.570%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEtMS0xLTEtNTEwNDQy_de0c868c-132f-4c84-bc86-9cd02d586824">6,219</ix:nonFraction></span><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80e4e577607c47ef8e17be0728383649_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzItMS0xLTEtNTEwNDQy_b427c5e8-11e9-43cf-ae39-fb8ad0c3be94">497</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id5bb4482e4a14e79b969e25922bc54a9_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzQtMS0xLTEtNTEwNDQy_240582bc-29ff-4e26-b88d-b321189153f2">981</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id6aa68052e8a48ee9d86fcb199be6a35_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzQtMi0xLTEtNTEwNDQy_db6ae0b2-0187-4263-beff-b201e1b71266">890</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5fc17d201ba947709c155ad4536d56f6_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzUtMS0xLTEtNTEwNDQy_5de3c340-4972-427b-9d31-d8bf3b499226">1,163</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i54617632dc4b424c95341e4c9a2e5c4f_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzUtMi0xLTEtNTEwNDQy_7658c336-0543-4632-a17b-c1b22efdebc3">1,254</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia8022526c75c4fd6863bbb083c05f71c_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzYtMS0xLTEtNTEwNDQy_2cb3ddc8-2e4a-4307-a49e-914083bf5378">1,019</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie10af1eb5400415cbfd0daa9d7707622_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzYtMi0xLTEtNTEwNDQy_b9bd8c90-06be-4ba8-bf76-ea9f2027e951">752</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie56ba277d67d407281c17cf9ea7efd8d_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzctMS0xLTEtNTEwNDQy_7b79661a-ac3c-4a61-a9e5-d40f4168dcef">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i47b85c67198743f5b22906ebd3b280cd_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzctMi0xLTEtNTEwNDQy_a77b99a3-103a-4ccc-a527-44d63579ee5d">27</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzktMS0xLTEtNTEwNDQy_7b8f8503-597b-4bcb-988e-50eaf5ad3008">2,668</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i547912a7144b42cb830ed387230e6c29_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzktMi0xLTEtNTEwNDQy_c172233c-f371-4110-92b0-9fa7646c8aae">2,772</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherNoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEwLTEtMS0xLTUxMDQ0Mg_ece6775d-f043-4eb1-af45-3b32894a2e60">1,882</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherNoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEwLTItMS0xLTUxMDQ0Mg_e56073b8-885f-47c3-aba4-b0b798edacb6">1,285</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzExLTEtMS0xLTUxMDQ0Mg_e51e779f-a1ad-4a66-9709-c23fca857200">359</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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#bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred expenses (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:NonCurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEyLTEtMS0xLTUxMDQ0Mg_94df5251-7956-40e7-9a4f-b086634d6688">854</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:NonCurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEyLTItMS0xLTUxMDQ0Mg_1764bd11-a18d-4cbd-94d7-e1673b844310">555</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term receivables for taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEzLTEtMS0xLTc0NTI5MQ_962b6ac8-1445-4231-b643-02b6493684d2">345</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentReceivablesFromTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEzLTItMS0xLTc0NTI5MQ_546f57d2-c0c8-462d-b48b-cac23e3a3a08">299</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentPrepayments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEzLTEtMS0xLTUxMDQ0Mg_ea452d7c-ffad-48f2-ba8f-805f2cd14d4b">324</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentPrepayments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzEzLTItMS0xLTUxMDQ0Mg_ccf75f25-2f9e-4925-9839-c08d0eb5e672">222</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzE0LTEtMS0xLTUxMDQ0Mg_32218946-8e08-456a-b234-5223b6d8483c">8,101</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTozYzBhZTA5YzRmZDU0OGNmYjUzNzMwNDc2NTFjZDJhYy90YWJsZXJhbmdlOjNjMGFlMDljNGZkNTQ4Y2ZiNTM3MzA0NzY1MWNkMmFjXzE0LTItMS0xLTUxMDQ0Mg_fe5fcbb5-3ecc-4156-9fb6-0be6e86ab50c">7,347</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Non-current financial assets </span></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="ie31341b30526458caad689101fd9a16a"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in investments, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2022 and 2021, is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:31.058%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.206%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.206%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.206%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.206%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.206%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.212%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other long-term credits</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deposits and guarantees</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term receivables for subleases</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment of trade receivables</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifca9a95b610f43708284c2329f531b72_I20201231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEtMS0xLTEtNTEwNDQy_6970ffe4-a34f-4b66-896c-5bf75de6fdde">457</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i243d64be0a1048b7896b857848b50529_I20201231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEtMy0xLTEtNTEwNDQy_6c88df68-8485-4b94-ae82-2512ec361e01">252</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1f74a313ae44ce89ca25c9e42b9e841_I20201231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEtNS0xLTEtNTEwNDQy_611741fc-4542-46e9-bb84-2999d95000c5">551</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i722ff3f90f5e42b0b95a47767346c786_I20201231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEtNy0xLTEtNTEwNDQy_deae6836-2e8e-4d03-b476-ccc8a290eda3">122</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5dbadb144de248fa9be2b92f1c17f6ca_D20210101-20211231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzMtNC0xLTEtNTEwNDQy_91c0f6ea-0405-4b94-bbf3-f734f90d2838">195</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iae017e8989084d67a4fad8a883ba8e5c_D20210101-20211231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzMtNS0xLTEtNTEwNDQy_28b06f1b-296a-4bee-b8cd-f292c4a4cc55">540</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib37e2a0fca45470ebd983546a4eacece_D20210101-20211231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzMtNi0xLTEtNTEwNDQy_7f1ffc2e-8b31-4bdd-ad9f-ab74e21614d2">11</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic45246091c984866b9ceec24cadf87ec_D20210101-20211231" decimals="-6" sign="-" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzMtNy0xLTEtNTEwNDQy_b8aef2ad-5d30-40d0-9e5a-682f4e5110e1">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7d2aa200b9974430a45cf4a795f4fda4_D20210101-20211231" decimals="-6" name="tef:DisposalsNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzQtMS0xLTEtNTEwNDQy_30532a6b-0e61-4ca5-8ffc-05f5502853cb">41</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction 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contextRef="i7d2aa200b9974430a45cf4a795f4fda4_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzctMS0xLTEtNTEwNDQy_39aba710-4c7e-453e-af82-abc6f9295e24">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i39dd045b9c3e46428b98f706e9b27fb2_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzctMy0xLTEtNTEwNDQy_288be4d6-27ff-4023-871e-f8a37af808d1">47</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5dbadb144de248fa9be2b92f1c17f6ca_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzctNy0xLTEtNTEwNDQy_0e285555-2314-4adb-8beb-7087acb43eaa">27</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" 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contextRef="id6aa68052e8a48ee9d86fcb199be6a35_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzgtMy0xLTEtNTEwNDQy_5911c9c3-9d1c-449e-a9a5-b948727cdb82">890</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" 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unitRef="eur" contextRef="ie10af1eb5400415cbfd0daa9d7707622_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzgtNS0xLTEtNTEwNDQy_0a787954-27c3-4466-9c42-c2d0df45948c">752</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i47b85c67198743f5b22906ebd3b280cd_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzgtNi0xLTEtNTEwNDQy_60eaab0e-9563-41d5-97b9-b946e66e1a25">27</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i859725955d8141cf95ed0210b9031950_D20220101-20221231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEwLTEtMS0xLTUxMDQ0Mg_1a1ab41b-00a6-41c5-86b8-99404c1bebbb">12</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1018580540db4734820412caa9efbe25_D20220101-20221231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEwLTMtMS0xLTUxMDQ0Mg_84783dcd-b0c4-4b13-8c68-e32fbb8365ba">503</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id219ae48dd714e3e97a739db5e68a33a_D20220101-20221231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEwLTQtMS0xLTUxMDQ0Mg_72ba286b-0e1c-451c-93ad-a993fd553c40">64</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEwLTUtMS0xLTUxMDQ0Mg_cbf16413-7e5f-45fc-92ee-d21528592451">616</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8489e4e019f46198eac96f1da505a3f_D20220101-20221231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEwLTYtMS0xLTUxMDQ0Mg_479ff1c0-7390-4437-9e96-d6a598d56324">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6d1408e831b9492ab6e88b54be3e63bd_D20220101-20221231" decimals="-6" sign="-" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEwLTctMS0xLTUxMDQ0Mg_3f62b51c-be5b-4eb6-9d5d-1b343797d090">10</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i859725955d8141cf95ed0210b9031950_D20220101-20221231" decimals="-6" name="tef:DisposalsNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzExLTEtMS0xLTUxMDQ0Mg_903d3c32-6d21-4abc-9ea6-fedd29330e14">74</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1018580540db4734820412caa9efbe25_D20220101-20221231" decimals="-6" name="tef:DisposalsNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzExLTMtMS0xLTUxMDQ0Mg_e3644316-d63e-45f8-aa99-a01004cac2a5">94</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id219ae48dd714e3e97a739db5e68a33a_D20220101-20221231" decimals="-6" name="tef:DisposalsNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzExLTQtMS0xLTUxMDQ0Mg_ddbbc023-9c65-4bbf-ae33-8216057d5196">33</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231" decimals="-6" name="tef:DisposalsNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzExLTUtMS0xLTUxMDQ0Mg_7e834465-a5ec-4927-a0c4-36edad7412ab">162</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic8489e4e019f46198eac96f1da505a3f_D20220101-20221231" decimals="-6" name="tef:DisposalsNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzExLTYtMS0xLTUxMDQ0Mg_7f7ab3e7-eacc-4070-83ef-0d3b32c533f0">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6d1408e831b9492ab6e88b54be3e63bd_D20220101-20221231" decimals="-6" sign="-" name="tef:DisposalsNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzExLTctMS0xLTUxMDQ0Mg_fd13a31f-9cff-49fd-aff2-0725fcaadce1">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i859725955d8141cf95ed0210b9031950_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEyLTEtMS0xLTUxMDQ0Mg_f66cd732-96e9-4644-b9a5-71834ec784be">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1018580540db4734820412caa9efbe25_D20220101-20221231" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1018580540db4734820412caa9efbe25_D20220101-20221231" decimals="-6" name="tef:GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEzLTMtMS0xLTUxMDQ0Mg_77899960-4545-435a-9aa6-4234d593dd8b">64</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id219ae48dd714e3e97a739db5e68a33a_D20220101-20221231" decimals="-6" name="tef:GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEzLTQtMS0xLTUxMDQ0Mg_0a4f6601-fd50-4343-9608-7cdcec13e7f3">26</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8489e4e019f46198eac96f1da505a3f_D20220101-20221231" decimals="-6" name="tef:GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzEzLTYtMS0xLTUxMDQ0Mg_7d119fae-e975-4e25-834d-736df25407e1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE0LTUtMS0xLTUxMDQ0Mg_13397c93-0b0a-4376-b939-83efce889790">197</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic8489e4e019f46198eac96f1da505a3f_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE0LTYtMS0xLTUxMDQ0Mg_5c4e6f94-58f5-45d5-a12d-d35186174b76">9</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6d1408e831b9492ab6e88b54be3e63bd_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE0LTctMS0xLTUxMDQ0Mg_9980502a-3651-494d-9125-116e624a3e8b">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/22</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80e4e577607c47ef8e17be0728383649_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE1LTEtMS0xLTUxMDQ0Mg_067f96f1-199a-41ba-9262-17c064667590">497</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id5bb4482e4a14e79b969e25922bc54a9_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE1LTMtMS0xLTUxMDQ0Mg_de74a135-d4f4-40a1-bede-fe8f1943cc77">981</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5fc17d201ba947709c155ad4536d56f6_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE1LTQtMS0xLTUxMDQ0Mg_fab6d227-692b-492b-9130-2c8bb0d5f4d4">1,163</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia8022526c75c4fd6863bbb083c05f71c_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE1LTUtMS0xLTUxMDQ0Mg_84b49ffb-2164-4f63-bb5a-e20644202e63">1,019</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie56ba277d67d407281c17cf9ea7efd8d_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE1LTYtMS0xLTUxMDQ0Mg_b905ab45-c92e-43cd-839a-731baeafbd3f">19</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7d745a91feff4e9a8b7e47fb66a012b3_I20221231" decimals="-6" sign="-" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90YWJsZTpmYThhYmJmYWIyMDc0OTQ2YmI0ODA2NmVhN2E0MDA2Ni90YWJsZXJhbmdlOmZhOGFiYmZhYjIwNzQ5NDZiYjQ4MDY2ZWE3YTQwMDY2XzE1LTctMS0xLTUxMDQ0Mg_bb32d2cf-2b35-401c-9fa7-ba6fe1f20d1a">128</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-60</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i47fd1599d27d4f1f9494132fab06996f" continuedAt="i69660102a3734bbbad426d2baa34d174"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investments </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Investments&#8221; includes the fair value of investments in companies where Telef&#243;nica exercises no significant influence or control and for which there is no specific short-term disposal plan (see Note 3.i).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounted to <ix:nonFraction unitRef="eur" contextRef="i74c14dcdbd254f43aa9d06350b66e60d_I20221231" decimals="-6" name="ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2Xzc5Mw_bedd9a29-0267-45d0-8590-ed74086c66b4">249</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i684fca5437514a2db3556e37847d6896_I20211231" decimals="-6" name="ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzgxMQ_6501fd68-0fca-4662-935e-381bf6284db2">232</ix:nonFraction> million euros at December&#160;31, 2021), representing <ix:nonFraction unitRef="number" contextRef="iea68a5ad6b4a4ab49d48c883aaefad20_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2Xzg2Mg_65b6d25c-3715-4001-a9be-0f40fb454c27">0.73</ix:nonFraction>% of its share capital at December&#160;31, 2022 (<ix:nonFraction unitRef="number" contextRef="i1de9dab2776245b7b67771f0710f1d5e_D20210101-20211231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzI2Mzg4Mjc5MDc3OTA0_3e43a2db-091c-4389-8ca1-e8f74dfbca9a">0.66</ix:nonFraction>% at December 31, 2021).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, Telef&#243;nica maintained a <ix:nonFraction unitRef="number" contextRef="i0e1f271681e941c1875ef9ff5b8538fb_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2Xzk5Mw_c3795fc9-e5e9-46f1-b6c9-371f912e936f"><ix:nonFraction unitRef="number" contextRef="icfa1e42103124759b7dd813fe4661a37_D20210101-20211231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2Xzk5Mw_d8a94b96-3649-4cd1-b7ae-e2cdaa4b9080">0.59</ix:nonFraction></ix:nonFraction>% stake in the share capital of China Unicom (Hong Kong) Limited, valued at <ix:nonFraction unitRef="eur" contextRef="ia59d293ed44d409bb0a9de20c64cf231_I20221231" decimals="-6" name="ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzEwNzA_12c0dd70-2a9e-41cb-b022-07793c967073">105</ix:nonFraction> million euros (same percentage at December&#160;31, 2021, valued at <ix:nonFraction unitRef="eur" contextRef="i2be6263cb83047b68262d04c05f0f1c5_I20211231" decimals="-6" name="ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzExMzQ_a89216bd-351e-458c-b3dd-40a34e9acf21">80</ix:nonFraction> million euros).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 19, 2022 Telef&#243;nica signed an agreement with the company Global Alconaba, S.L., for the sale of <ix:nonFraction unitRef="shares" contextRef="i548fd2bbb35a41bc8dec7efff7f85f5c_I20220519" decimals="INF" name="tef:NumberOfSharesSoldInvestmentsInAssociates" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzMyOTg1MzQ5MDAwMzI_46b3fdef-6761-4b9d-a557-88826b836480">50,147,058</ix:nonFraction> shares of Promotora de Informaciones, S.A. (PRISA), equivalent to <ix:nonFraction unitRef="number" contextRef="ia00933c889fc4a3fb53d5403e0dddbdd_D20220519-20220519" decimals="5" sign="-" name="tef:IncreaseDecreaseProportionOfOwnershipInterestInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzI2Mzg4Mjc5MDc4MzY1_7a0b26f2-4dd9-4f2b-88a7-1e384be0ae9d">7.076</ix:nonFraction>% of its share capital. As a result of this sale, <ix:nonFraction unitRef="eur" contextRef="i550b285a07ee47d0b1ff0b1e41f8a914_I20221231" decimals="-6" sign="-" name="ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzE1OTQyOTE4NjE4NzI4_4ba29693-5e8e-450b-a881-270e45c64d7c">71</ix:nonFraction> million euros of losses from financial assets measured at fair value through comprehensive income have been reclassified to retained earnings. As of December 31, 2022 Telef&#243;nica's shareholding in PRISA amounted to <ix:nonFraction unitRef="number" contextRef="i920f7eb7435b41b792f199e438b49a89_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzI2Mzg4Mjc5MDc4Mzky_8fddae38-bec9-4e61-b70c-aa67dceffcb2">1.87</ix:nonFraction>% of the company's share capital and was valued at <ix:nonFraction unitRef="eur" contextRef="i550b285a07ee47d0b1ff0b1e41f8a914_I20221231" decimals="-6" name="ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzEyODU_b62a3124-cc3b-426d-81d4-57f7a0f12ba5">4</ix:nonFraction> million euros (<ix:nonFraction unitRef="number" contextRef="id995c342570a4fd7b0662c1ac939887f_D20210101-20211231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzI2Mzg4Mjc5MDc4NTQ1_c8ba2855-6b31-4778-86d3-1eff3242cd27">9.03</ix:nonFraction>% at December 31, 2021 valued at <ix:nonFraction unitRef="eur" contextRef="i31d7efb312604f4a8048ce17d358d6f1_I20211231" decimals="-6" name="ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzEzNDg_018f3a81-dad7-4468-a88c-9b7a5c7dcb09">36</ix:nonFraction> million euros). </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other long-term credits  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This line item includes long-term financial assets of Telef&#243;nica Germany amounting to <ix:nonFraction unitRef="eur" contextRef="i7388e14991294d4093cab9c5c314cb37_I20221231" decimals="-6" name="tef:LongTermFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzM0NDE_ab68156c-5e28-4fbb-b7f5-459384cf24b7">104</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="i30693d3723cf4ae498dbbe601df6e50e_I20211231" decimals="-6" name="tef:LongTermFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzM0NjM_453daf0f-bac1-4396-8260-ce2a046c305b">85</ix:nonFraction> million euros at December 31, 2022 and 2021, respectively, that are mainly intended to cover obligations from the defined benefit plan of Telef&#243;nica Germany but do not represent "plan assets" in accordance with IAS 19 (see Note 24).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions for the year 2022 include financial instruments (Federal Treasury Certificates) of Pegaso PCS, S.A. de C.V. amounting to <ix:nonFraction unitRef="eur" contextRef="i2323e554b3ac4d8494fad279560b5e4a_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTEyNjA_d2a1c1bf-ab6c-4ef1-8c89-88e4ab97a484">260</ix:nonFraction> million euros, for the purpose of securing certain legal proceedings with the Mexican tax Administration Service. These instruments are classified as long-term based on the estimated term of the proceedings and accrue interest according to the time elapsed (see Note 28).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, additions for the year 2022 include <ix:nonFraction unitRef="eur" contextRef="i538dbb86598c41bf8f318fc21cd3eba8_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTM1MTg_6fbe2b4e-58e3-4796-a0a3-fbac91a7eaf7">82</ix:nonFraction> million euros of loans granted by Colombia Telecomunicaciones, S.A. ESP BIC to the associate company &#193;lamo Holdco, S.L. (see Note 10).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 other long-term credits include <ix:nonFraction unitRef="eur" contextRef="if8943e087c544050b463148bb7684582_I20221231" decimals="-6" name="tef:LongTermCreditsToAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTM1MjI_68d171ae-500d-49b6-9a69-fb69efba76a5">75</ix:nonFraction> million euros corresponding to the subordinated debt granted by Telef&#243;nica Chile to the associate company HoldCo Infraco, SpA. generated by the sale of <ix:nonFraction unitRef="number" contextRef="i9b21dca8b3894af8b59ffd6db059c8b5_I20211231" decimals="2" name="tef:ProportionOfOwnershipInterestInJointVentureDisposal" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTM1MjY_15b812bf-b46e-42a3-bbf1-7fcdb786bb4e">40</ix:nonFraction>% of the fiber optic business (<ix:nonFraction unitRef="eur" contextRef="i03783382a3064559b26d61b82deda837_I20211231" decimals="-6" name="tef:LongTermCreditsToAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTM1MzE_7285d46f-3456-4c16-b821-4beaeda51432">87</ix:nonFraction> million euros as of December 31, 2021, see Note 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" in 2021 included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire") deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of <ix:nonFraction unitRef="eur" contextRef="i33c585791f884947b8d04a2b25d58e09_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzM5MzU_ccd47ed3-8b37-4f73-ad70-7aff59a68e53">1,000</ix:nonFraction> million dollars of which <ix:nonFraction unitRef="eur" contextRef="i33c585791f884947b8d04a2b25d58e09_I20211231" decimals="-6" name="tef:OtherLongTermCredits" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzM5NjM_985af2df-998c-4188-8654-c47e4070fb61">295</ix:nonFraction> million euros are registered as "Other long-term credits" and <ix:nonFraction unitRef="eur" contextRef="i33c585791f884947b8d04a2b25d58e09_I20211231" decimals="-6" name="ifrs-full:OtherCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzQwMjg_77caee77-1836-4977-8bbc-3785999b22d3">591</ix:nonFraction> million euros were registered as "other current financial assets". Transfers for the year 2022 include the short-term transfer of the notes mentioned above for an amount of <ix:nonFraction unitRef="eur" contextRef="ibe2ee340bbe34c52a0c48adaf7f2efc9_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTIxODU_c2f1dd60-626b-427f-9826-3a4e6df6c667">313</ix:nonFraction> million euros, all of which were registered at December 31, 2022 in "Other current financial assets" for an amount of <ix:nonFraction unitRef="eur" contextRef="i0947b16da0734cadb8677693bc2d362f_I20221231" decimals="-6" name="ifrs-full:OtherCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTIzMDc_ae4ace15-a128-4511-bb91-a419e00f72da">939</ix:nonFraction> million euros (see Note 15).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally in 2021, Telxius recorded additions amounting to <ix:nonFraction unitRef="eur" contextRef="i82b243213c514326b9d06ba4d3341c51_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzQxNjU_265edc19-e11d-48e6-9e75-6d1e82af73dd">246</ix:nonFraction> million euros associated with the collection right arising with </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">American Tower Corporation as a result of the sale of the telecommunications towers division in Europe (Spain and Germany) in June 2021. At December 31, 2022 the collection right amounted to <ix:nonFraction unitRef="eur" contextRef="i3c9a5c43d3ab4ba8a97071cbb4146195_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTI0MTU_3098ef37-ee5a-4b4e-95b7-66a9e29ade35">264</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deposits and guarantees</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil has non-current judicial deposits amounting to <ix:nonFraction unitRef="eur" contextRef="i6f1d265480c64ea59f97b42bc07bc7fe_I20221231" decimals="-6" name="ifrs-full:LongtermDeposits" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzI2Mzg4Mjc5MDc4NjQy_0565dba6-a3b8-4f1c-b082-df5905872078">501</ix:nonFraction> million euros (see Note 24) at December 31, 2022 (<ix:nonFraction unitRef="eur" contextRef="ie9de80e9f80245f7b387b24a934d248c_I20211231" decimals="-6" name="ifrs-full:LongtermDeposits" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzQ5NTE_6998b6d0-33ff-424b-81af-77a4e0c22407">431</ix:nonFraction> million euros at December 31, 2021).   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, there were deposits related to the collateral guarantees on derivatives (CSA) signed by Telef&#243;nica, S.A. and its counterparties for the credit risk management of derivatives amounting to <ix:nonFraction unitRef="eur" contextRef="ie2b5b201502d4e85ac658105632a4587_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzUxOTk_80683604-9a56-403a-b025-fd4e304622ba">365</ix:nonFraction></span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros of which </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="iba8c22ba8ee4440c9f6335ed101fc7ed_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzUyMjU_0b60f17d-f133-4953-b8ef-cab2e523e22f">42</ix:nonFraction> million euros cross currency swap (<ix:nonFraction unitRef="eur" contextRef="i3a262a812d7e4f0bb26d66f10a59b870_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzUyNjM_d174a453-bab1-458b-975d-e316fb362052">564</ix:nonFraction> million euros at December 31, 2021 that included <ix:nonFraction unitRef="eur" contextRef="i7a68ebf782994ffcbc1b39be3f92cda6_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzUzMTM_1c1fe7ed-dc4b-4e55-a1d9-415b68b68dea">279</ix:nonFraction> million euros related to cross currency swap).    </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-61</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i69660102a3734bbbad426d2baa34d174" continuedAt="ibc6eb8d1fbd94f94b2268646b164b935"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation with collateral contracts, in 2022 there is an additional guarantee of <ix:nonFraction unitRef="bond" contextRef="i3782613030c2442494cca11ca1364870_D20220101-20221231" decimals="0" name="tef:NumberOfBondsIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0NTE_8281bda4-fa04-4dd7-87a2-3ff2ebf8e7fc">79,034</ix:nonFraction></span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> b</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">onds issued by Telef&#243;nica Emisiones, S.A.U. deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of <ix:nonFraction unitRef="eur" contextRef="i273b5c8ba1594868b6d430f113db1ce4_I20221231" decimals="-6" name="ifrs-full:BondsIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU1Nzg_ad7bb710-8106-449e-8409-b79e9f6f04fc">78</ix:nonFraction> million euros at December 31, 2022 (<ix:nonFraction unitRef="bond" contextRef="i7fc5e5c93533487c915ea5679fc97106_D20210101-20211231" decimals="0" name="tef:NumberOfBondsIssued" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU2MTU_0194dd40-83fb-45e5-a508-f7eafcbb5137">166,678</ix:nonFraction> bonds for a nominal amount of <ix:nonFraction unitRef="eur" contextRef="i8643918eadb24b5d9d116b672e95f7f7_I20211231" decimals="-6" name="ifrs-full:BondsIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU2NDg_70251a4a-05a7-4bba-8c76-a1d97573a37c">173</ix:nonFraction> million euros at December 31, 2021).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Trade receivables</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" for the year in 2022 include trade receivables amounting to <ix:nonFraction unitRef="eur" contextRef="i481c5b509c5a421e93ae572dd9abdc1d_D20220101-20221231" decimals="-6" name="tef:AdditionsNonCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTM5OTU_6f9469ab-c079-4171-9976-422e1b8f5d38">69</ix:nonFraction> million euros from Colombia Telecomunicaciones, S.A. ESP BIC to the associate Onnet Fibra Colombia SAS, <ix:nonFraction unitRef="eur" contextRef="i9d41a7de68364d88bf266f785beac1fd_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzU0OTc1NTgxNTQwMDQ_28e0a569-33d8-43ff-97be-b96284ef6e1a">59</ix:nonFraction> million euros at December 31, 2022, see Note 10.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 includes Telef&#243;nica Germany trade receivables at fair value through other comprehensive income for an amount of <ix:nonFraction unitRef="eur" contextRef="ieac0f7b3dbb74e56bb9cf744a475c210_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzY0NDU_57532fb6-f9a5-4c15-a2be-edc29c3b444f">292</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i8ca86cb1faa8454fb806dcc454116841_I20211231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzY0NjM_b628f78c-d70a-4b1f-847a-526a0bf65e95">269</ix:nonFraction> million euros as of December 31, 2021, see Note 16).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-62</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_313"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 13. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfInventoriesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90ZXh0cmVnaW9uOmUyOThjMThjOGMzMTRmZDA5ZDdjMmFiYTZmMDQ3MTY0XzQ5MA_0468fb48-62ce-43ba-9391-fbc158b1183d" continuedAt="icf8e0edc085742aca9c4cb9555944676" escape="true">Inventories</ix:nonNumeric></span></div><div style="margin-bottom:7pt;text-align:justify"><span><br/></span></div><ix:continuation id="icf8e0edc085742aca9c4cb9555944676"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureofdetailedinformationaboutinventoryTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90ZXh0cmVnaW9uOmUyOThjMThjOGMzMTRmZDA5ZDdjMmFiYTZmMDQ3MTY0XzQ5Mg_b7e6ff06-9987-4eb7-b0d5-5760b4542c8d" escape="true"><div style="margin-bottom:7pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of inventories of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows: </span></div><div style="margin-bottom:7pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:56.733%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.983%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.984%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audiovisual rights</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:Currentinventoriesbroadcastandtransmissionrightsandothercontents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzEtMS0xLTEtNTEwNDQy_06ec1743-9c14-4820-a22e-15024d706cf1">823</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:Currentinventoriesbroadcastandtransmissionrightsandothercontents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzEtMi0xLTEtNTEwNDQy_ba46534c-8ada-4ab9-8cf5-dcf7970ab4eb">1,131</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mobile terminals and other equipments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:Currentinventoriesmobileterminalandotherequipments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzItMS0xLTEtNTEwNDQy_a50a9598-1ecf-4dc5-8fee-cccbbbab95d4">701</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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inventories</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherInventories" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzMtMS0xLTEtNTEwNDQy_86ff22e1-e3b2-4ffe-b2b5-651de0150b3c">57</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherInventories" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzMtMi0xLTEtNTEwNDQy_a2875482-67f1-431f-afee-1d55eaadf4f2">71</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories impairment provision</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:Currentinventoriesimpairmentprovision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzYtMS0xLTEtNTEwNDQy_ab125a90-4865-4c3b-9868-eb68cc64fdb2">35</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:Currentinventoriesimpairmentprovision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzYtMi0xLTEtNTEwNDQy_eb1dbdaf-9718-43a2-8972-cc3a1031d0bb">37</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Inventories</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Inventories" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzctMS0xLTEtNTEwNDQy_d3a4389b-e3db-4587-8ad1-855abc0b29fa">1,546</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Inventories" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzctMi0xLTEtNTEwNDQy_adfae97d-e307-4a09-abe2-9e14994ba12e">1,749</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"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).</span></div></ix:nonNumeric></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_316"></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 14. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwMzM_bef5643b-9867-4a14-accd-baa1c168b93a" continuedAt="i55ab62176ed441fc9d86c1bf35d41942" escape="true">Receivables and other current assets</ix:nonNumeric></span></div><div><span><br/></span></div><ix:continuation id="i55ab62176ed441fc9d86c1bf35d41942" continuedAt="ia57be42d9f60407386711465ba63a551"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureofReceivablesandOtherCurrentAssetsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwMjg_bc3fd053-0ab4-4785-8069-7137cae4b4ce" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of receivables and other current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:65.225%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.737%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.738%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzEtMS0xLTEtNTEwNDQy_d82baf7c-05cb-44c3-8a01-eb6ce73835ec">7,340</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzEtMi0xLTEtNTEwNDQy_1a4fd7b4-6b4b-49c1-a6ff-e75743a2e135">6,903</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzItMS0xLTEtNTEwNDQy_6bca74e0-e3dd-4cd4-8915-6101da3918f1">9,680</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzItMi0xLTEtNTEwNDQy_5569018d-6d79-4aa3-9445-900c72ed73cd">8,926</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzMtMS0xLTEtNTEwNDQy_4fc55e4f-94dc-4fdc-a21d-4a4cc19bcfa1">2,891</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzMtMi0xLTEtNTEwNDQy_396ff6c8-2a5b-4114-966f-7365582fb230">2,531</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentReceivablesDueFromJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzQtMS0xLTEtNTEwNDQy_3680bb97-f594-4227-bd0d-da48b7d76483">151</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentReceivablesDueFromJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzQtMi0xLTEtNTEwNDQy_1c288770-ce1e-4736-b161-5fb2cfc263a6">121</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherCurrentReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzUtMS0xLTEtNTEwNDQy_4754d588-efeb-492b-851d-2a80c7a57ac9">400</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherCurrentReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzUtMi0xLTEtNTEwNDQy_44ec6bbc-3d2c-4413-a373-973769be4304">387</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzctMS0xLTEtNTEwNDQy_56460319-d002-420e-b6c1-76e04b02bcc1">1,794</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzctMi0xLTEtNTEwNDQy_11abcdcc-a311-4e78-b39c-e44b15a57e2d">1,384</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzgtMS0xLTEtNTEwNDQy_fa3d239c-5426-498a-b73b-9050446be969">195</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzgtMi0xLTEtNTEwNDQy_f462f927-ecfa-400b-a335-96e7ab865c68">133</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capitalized costs (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzktMS0xLTEtNTEwNDQy_8cc4102f-c3b5-4af4-8775-85843d2396bd">885</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzktMi0xLTEtNTEwNDQy_2e6ad7d0-110a-45b7-9352-48b7848bd9fc">668</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentPrepayments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzEwLTEtMS0xLTUxMDQ0Mg_8f33016d-67d6-47b7-a79e-c1eea42dc509">714</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentPrepayments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzEwLTItMS0xLTUxMDQ0Mg_7521bc14-4f56-45d2-895a-4d6b6943fbb4">583</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzExLTEtMS0xLTUxMDQ0Mg_fe31a45f-1e95-4961-8389-17026ab1ac1a">9,134</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzExLTItMS0xLTUxMDQ0Mg_925187e0-15c3-4be8-85cc-f8e8cbe03f74">8,287</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwMjc_49fd847a-9f69-44cc-a3ba-ead3d6acda6f" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The movement in impairment of trade receivables in 2022 and 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2020</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i08f824474c064fca9d2d81326253ef99_I20201231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzEtMS0xLTEtNTEwNDQy_e3431d9c-0f17-4848-9914-380a274e3202">2,549</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iae017e8989084d67a4fad8a883ba8e5c_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzItMS0xLTEtNTEwNDQy_ea4f56c2-be15-414e-af62-a6f0c945ca89">598</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inclusion of companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iae017e8989084d67a4fad8a883ba8e5c_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughInclusionofCompaniesAllowanceAccountforCreditLossesofFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzMtMS0xLTEtNTEwNDQy_983f208c-41ba-4163-bf4c-b760fe81f986">38</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iae017e8989084d67a4fad8a883ba8e5c_D20210101-20211231" decimals="-6" name="ifrs-full:ReversalAllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzQtMS0xLTEtNTEwNDQy_d301d996-0816-47a0-8b80-c924558ab316">545</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iae017e8989084d67a4fad8a883ba8e5c_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzUtMS0xLTEtNTEwNDQy_27f333e0-ddae-4bcd-9f2f-51150731931f">33</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie10af1eb5400415cbfd0daa9d7707622_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzYtMS0xLTEtNTEwNDQy_5443a2ff-2a1e-49f1-8eb4-76ad507b5283">2,531</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzctMS0xLTEtNTEwNDQy_0e243f77-4d52-4d3c-918f-7906f27176f6">613</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzgtMS0xLTEtNTEwNDQy_feda1769-a63b-4866-b6f0-0e096bbe3906">12</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231" decimals="-6" name="ifrs-full:ReversalAllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzktMS0xLTEtNTEwNDQy_38f8f1b6-41b7-4a6e-9cd5-92cc161bef80">397</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzEwLTEtMS0xLTUxMDQ0Mg_d9fa2bbb-0708-4784-8b7a-3b4f5f61a315">132</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2022</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia8022526c75c4fd6863bbb083c05f71c_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzExLTEtMS0xLTUxMDQ0Mg_6795b84f-9966-4290-81ff-f639083c14cd">2,891</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Public-sector net trade receivables at December&#160;31, 2022 and 2021 amounted to </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="ia9bab18b32bd4970ac60d4391913acf7_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzgxNA_3da3d385-6c6d-4b5b-9c9b-985d13eb8f26">518</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros and <ix:nonFraction unitRef="eur" contextRef="ic0658c616c444e6fa60d7f2ceb7d2f96_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzgzNQ_ae17f7f4-dc27-4722-b21c-ca10eb88e341">439</ix:nonFraction> million euros, respectively.    </span></div></ix:continuation><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwNDA_2148cd8e-5f4f-435c-8df2-d5d1432cea1e" continuedAt="i1bbce851e907408a9eff8c21e3918dde" escape="true"></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-63</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ia57be42d9f60407386711465ba63a551" continuedAt="ic1cb456837f8486c87114e1ff93b6eeb"><ix:continuation id="i1bbce851e907408a9eff8c21e3918dde"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2022 and 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:41.066%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.687%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.566%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.784%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.397%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unbilled receivables</span></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib4b6b6bdecbb4b9ea4770aced1211b32_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzItMS0xLTEtNTEwNDQy_cf2e33de-215d-4571-afe5-8d4c16b3ce6a">2,495</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib4b6b6bdecbb4b9ea4770aced1211b32_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzItMi0xLTEtNTEwNDQy_7efd11fc-889d-4589-8fca-9f092333db96">9</ix:nonFraction>)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i85729da9481a4b42aab482cc37cd79ea_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzItMy0xLTEtNTEwNDQy_783d69fe-d310-48cf-a75a-8f0f6f2da001">2,316</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i85729da9481a4b42aab482cc37cd79ea_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzItNC0xLTEtNTEwNDQy_ba51612a-ea83-4f04-a1f5-70437da27dfa">16</ix:nonFraction>)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amount not overdue invoiced</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaa4634221d004521991ad5cadc549714_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzMtMS0xLTEtNTEwNDQy_34a5af52-ad30-4f8c-9435-3ccea7ca69b8">3,011</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iaa4634221d004521991ad5cadc549714_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzMtMi0xLTEtNTEwNDQy_7dd08aa0-be22-49d4-a8ee-e06ce2857543">154</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i16727670dbfc4626a0ff658a293995c6_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzMtMy0xLTEtNTEwNDQy_759564b1-acf2-44b0-9a06-c4403aee38a2">2,976</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i16727670dbfc4626a0ff658a293995c6_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzMtNC0xLTEtNTEwNDQy_624db81f-6398-4a69-add6-0402d4acf25f">114</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less than 90 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3b8937d1644d417daa982c1ea5ea65c0_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzQtMS0xLTEtNTEwNDQy_26e824b6-51c7-4034-a2f0-1c73980ed3b9">1,024</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3b8937d1644d417daa982c1ea5ea65c0_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzQtMi0xLTEtNTEwNDQy_3534ac64-bc5e-46be-91ce-26aa41d094d3">160</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i912504e624a649d99ec25ed7a4d98905_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzQtMy0xLTEtNTEwNDQy_203009bf-e956-4d60-8bb7-0a95a94ea64c">893</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i912504e624a649d99ec25ed7a4d98905_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzQtNC0xLTEtNTEwNDQy_7c74f731-7426-4b1d-bfa7-ada3185ad170">141</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 90 and 180 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i95d662f8efa847458cc3117d6b835c64_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzUtMS0xLTEtNTEwNDQy_36037c38-ac74-4d44-9d35-ec5b994fc96a">347</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i95d662f8efa847458cc3117d6b835c64_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzUtMi0xLTEtNTEwNDQy_7cfa304a-fa8b-450f-9311-6e20e3f42f4a">150</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2db2d5babc1844cf98616cfac82108c2_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzUtMy0xLTEtNTEwNDQy_cbf12262-1aed-41db-8661-a6b290b50940">333</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2db2d5babc1844cf98616cfac82108c2_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzUtNC0xLTEtNTEwNDQy_ec5d83f3-3d51-4346-87b7-5d9ec9076a44">125</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 180 and 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2ecf08d0856544b0848dc34f5caf8905_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzYtMS0xLTEtNTEwNDQy_5c503a93-dc10-411e-8961-266be0d3ce6e">534</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2ecf08d0856544b0848dc34f5caf8905_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzYtMi0xLTEtNTEwNDQy_97aca4a9-a753-4621-a5a4-dfad3fb807a0">381</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8a75819c4a034bcc963d6928ca45a8b0_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzYtMy0xLTEtNTEwNDQy_78b2ad16-4a5e-4aa5-8a1b-72c5f87de49b">416</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8a75819c4a034bcc963d6928ca45a8b0_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzYtNC0xLTEtNTEwNDQy_902c4ef5-263c-4683-9156-dc0440229be6">306</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">More than 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i372c442d650240abb37ba86ef71c3112_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzctMS0xLTEtNTEwNDQy_bb1e5aeb-6db5-490a-8021-bf7cfd9937f4">2,269</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i372c442d650240abb37ba86ef71c3112_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzctMi0xLTEtNTEwNDQy_4ea0a91b-34e1-4d39-a886-7c5aa79d8517">2,037</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8f111cb9d4304ba49a493be2a662bde6_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzctMy0xLTEtNTEwNDQy_47769bad-81a8-4298-983d-1d54bb5f24d4">1,992</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8f111cb9d4304ba49a493be2a662bde6_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzctNC0xLTEtNTEwNDQy_7cbcfc08-3a6c-4bd5-814a-9f12166c9f14">1,829</ix:nonFraction>)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzgtMS0xLTEtNTEwNDQy_cb4fc3ff-5e79-45dd-98ba-877248413f39">9,680</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzgtMi0xLTEtNTEwNDQy_f9c0e298-0082-4776-87a7-cbaf40844b70">2,891</ix:nonFraction>)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentTradeReceivables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzgtMy0xLTEtNTEwNDQy_c0afe6c0-3319-4bef-83f2-67d7577bfd23">8,926</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzgtNC0xLTEtNTEwNDQy_1a0a21cd-f3e2-419c-b0c9-c02f12853a9e">2,531</ix:nonFraction>)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-64</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_319"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 15. <ix:continuation id="ic1cb456837f8486c87114e1ff93b6eeb" continuedAt="i97f732e826bc4ce6ac8dc3196e8f02ca">Other current financial assets</ix:continuation></span></div><ix:continuation id="i97f732e826bc4ce6ac8dc3196e8f02ca"><div style="margin-top:9pt"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfOtherCurrentFinancialAssetsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzIzNzU_af08b83d-5d96-41b4-adc5-113aae6af26b" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of other financial assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:59.807%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.323%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.570%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term credits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i87f27d61d6f3482fb323c7481a7a71f3_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzEtMS0xLTEtNTEwNDQy_6696111b-413a-4282-987c-9cdf25286a17">128</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7569d235cb97459389bd4d96e2f0eae4_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzEtMi0xLTEtNTEwNDQy_7ddbf372-abcc-471e-a516-9db5e33b71cc">1,306</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5fc17d201ba947709c155ad4536d56f6_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzItMS0xLTEtNTEwNDQy_c151681b-d3d0-4b12-8aa5-421496372bfb">439</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i54617632dc4b424c95341e4c9a2e5c4f_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzItMi0xLTEtNTEwNDQy_f1530458-5a22-48be-8761-565bd8071914">760</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term derivative financial assets (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i045e087c5cfa4ec1817eee9f6fedf092_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzMtMS0xLTEtNTEwNDQy_90501019-7652-4668-b6cd-9ecbf18f226c">712</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i547912a7144b42cb830ed387230e6c29_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzMtMi0xLTEtNTEwNDQy_c204f2f3-db10-4aea-96e1-96b4a53e5980">995</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c52baecc7ac47eb916a9af6bb8d6e69_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzQtMS0xLTEtNTEwNDQy_6d8ef966-5433-455d-8cb6-af3b039d711e">1,165</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieaf199fef43a4295836e46d0c9508df7_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzQtMi0xLTEtNTEwNDQy_100c6504-3a4e-4062-83cb-6e9710bfddf7">774</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzUtMS0xLTEtNTEwNDQy_901b96e7-4bc7-463a-8ed4-2de1a66fa098">2,444</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90YWJsZTphNTgwZDA4M2YwODg0Nzc0YTVkNzk1MWUwNDI4NWI0ZC90YWJsZXJhbmdlOmE1ODBkMDgzZjA4ODQ3NzRhNWQ3OTUxZTA0Mjg1YjRkXzUtMi0xLTEtNTEwNDQy_1af54295-d0d5-43d8-a726-b5c99212044f">3,835</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term credits at December 31, 2021, included bank deposits with a maturity in <ix:nonNumeric contextRef="ia2eb471b4d494046af9bd731fa9e5a69_D20210101-20211231" name="tef:ShortTermCreditMaturity" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzI1MQ_eb0d8bea-c4c7-404e-82bb-7f074639cf1e">one month</ix:nonNumeric> formalized by Telfisa Global, B.V. which amounted to <ix:nonFraction unitRef="eur" contextRef="i31d1a4dad8cd40d8a0325a9773cfbb12_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzMwNw_1a098225-ecd0-4d16-9f47-f258ef24ee37">1,190</ix:nonFraction> million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term deposits and guarantees at December 31, 2022 include current judicial deposits amounting to <ix:nonFraction unitRef="eur" contextRef="i6905a4e0ff0245af8d4b37becfe7ae96_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0Xzc2OTY1ODEzOTcxNzA_62af5347-4a82-4c59-9b15-fe248390f75f">106</ix:nonFraction> million euros (see Note 24) constituted by Telef&#243;nica Brazil (<ix:nonFraction unitRef="eur" contextRef="id6b27b58f8a34990bbe8d899a3b11c56_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzY0Mw_45119bcd-418a-450d-bea7-103774ce1d3a">17</ix:nonFraction> million euros at December 31, 2021) including the judicial deposit of the amount withheld from the acquisition price of OI's mobile assets, in the amount of <ix:nonFraction unitRef="brl" contextRef="i496ae228cbfb4029ae7f68ae575a5d74_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDIwNDA_d2ba90f1-06ab-40ee-8b15-6bb81f4bb539">522</ix:nonFraction> million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="i496ae228cbfb4029ae7f68ae575a5d74_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDIwNDU_a64cfe0e-d082-47fb-89de-ba578a94b456">94</ix:nonFraction> million euros, see Note 5).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2021, <ix:nonFraction unitRef="eur" contextRef="i55889d6101f14f37a2e112a47f01db3a_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzcwNg_f9915769-2aed-4220-9e15-2b6a7dc86410">433</ix:nonFraction> million euros of deposits maturing in more than <ix:nonNumeric contextRef="ia8dc6bf21a2148df805e2420b2d373e1_D20210101-20211231" name="tef:ShortTermDepositsAndGuaranteesMinimumMaturity" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0Xzc1Nw_60c86754-e699-4207-bac5-c0a7e478b7ad">90</ix:nonNumeric> days from Telef&#243;nica M&#243;viles Chile were included, contracted with the funds obtained from the issue in November 2021 of a bond (see Appendix III).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally at December 31, 2022 there were <ix:nonFraction unitRef="eur" contextRef="i6d106f48587749bb94a1ac9c8fc3462f_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0Xzk1MA_71c249d3-2623-4638-aa03-258b4d7613d7">232</ix:nonFraction> million euros registered in deposits (<ix:nonFraction unitRef="eur" contextRef="i829fa5a545914f2f9f687946d5b38293_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzE4NjkxNjk3Njc0ODc4_67004600-b13f-4a6b-886c-9d119874ec9f">150</ix:nonFraction> million euros at December 31, 2021), associated with collateral guarantees of Telef&#243;nica, S.A. classified as current according to the maturity of the underlying derivative instruments which they relate to</span><span style="color:#50535a;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Other current financial assets" include short-term investments in financial instruments to cover commitments undertaken by the Group&#8217;s insurance companies, amounted to <ix:nonFraction unitRef="eur" contextRef="i3f11df2075784eb3b3320ae48f333860_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzE1NDM_7e1e8642-cd87-49f6-823d-68e019838dca">126</ix:nonFraction> million euros at December&#160;31, 2021 (<ix:nonFraction unitRef="eur" contextRef="i8b28dabb99ee4831a653b0ad9f0f2328_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzE1NzQ_c70f20d1-c79f-45d2-87e1-0e26a3391d24">105</ix:nonFraction> million euros at December&#160;31, 2021) and were recorded at fair value.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally at December 31, 2022 this included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire"). These notes were deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of <ix:nonFraction unitRef="usd" contextRef="i0947b16da0734cadb8677693bc2d362f_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3NzY_58c0170f-e257-4852-8078-21f2c0dfa049">1,000</ix:nonFraction>&#160;million dollars equivalent to <ix:nonFraction unitRef="eur" contextRef="i0947b16da0734cadb8677693bc2d362f_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3ODM_eb678956-3ee2-4ce9-aa4b-9c21e3b675aa">939</ix:nonFraction> million euros registered entirely under "Other current financial assets". At December 31, 2021 <ix:nonFraction unitRef="eur" contextRef="i33c585791f884947b8d04a2b25d58e09_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3ODg_2c9beb49-6296-4959-995a-fa045fdc2fce">1,000</ix:nonFraction> million dollars were deposited, of which <ix:nonFraction unitRef="eur" contextRef="i33c585791f884947b8d04a2b25d58e09_I20211231" decimals="-6" name="ifrs-full:OtherCurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3OTU_5eb49523-3a00-4800-888a-14de7cbe523e">591</ix:nonFraction> million euros were registered as "Other current financial assets" and <ix:nonFraction unitRef="eur" contextRef="i33c585791f884947b8d04a2b25d58e09_I20211231" decimals="-6" name="tef:OtherLongTermCredits" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE4MDA_0e66f80e-01b8-4665-9182-5bb47abce69a">295</ix:nonFraction> million euros were registered as "Other long-term credits" (see Note 12).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8220;Cash and cash equivalents&#8221; on the accompanying consolidated statement of financial position.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-65</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_322"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 16. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfFinancialInstrumentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90ZXh0cmVnaW9uOjI3NWJiNjE1NjljMjRiNjliM2UzNjQ1NTcyMGI2ZDVlXzQ3Ng_bb352c88-d6e7-4ae8-af7a-cd72cd5d7dcc" continuedAt="ie2f081639977441f955b45be67929188" escape="true">Breakdown of financial assets</ix:nonNumeric></span></div><ix:continuation id="ie2f081639977441f955b45be67929188" continuedAt="i65f6b3f0f5d5494b88ef6124feeae8e2"><ix:continuation id="ibc6eb8d1fbd94f94b2268646b164b935" continuedAt="i1e6d025b483149dcb13dc4df0346c537"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2022 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:14.589%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.911%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.524%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.351%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.791%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.844%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.503%"></td><td style="width:0.1%"></td></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iadbd373b8d22463685dbcea006da9f3e_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzMtMS0xLTEtNTEwNDQy_3e83b4f1-86b8-4ca2-9f5a-af451220231f">323</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6a78a58b4a7d4454821d0bc91663b22e_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzMtMi0xLTEtNTEwNDQy_67ce1688-bcfc-47b7-b413-bed8fa72ca38">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c1a4773c57f4dba996eb47457efd551_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzMtMy0xLTEtNTEwNDQy_a7a3d659-fc63-472f-ba8d-fc990aec5db7">350</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i70d86f1d23d44f48a92a2f742d6afd05_I20221231" decimals="-6" name="ifrs-full:NoncurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzMtNS0xLTEtNTEwNDQy_292acf85-3227-44e2-8f12-c2bcc76893a2">2,404</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib201dc24002f427a963c57e8e9cf6feb_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEyLTYtMS0xLTUxMDQ0Mg_81b01b38-eb43-4279-8718-50ea77e13537">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibf4a2307b0294c3d897dfffb53ee06da_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEyLTctMS0xLTUxMDQ0Mg_27320cce-5f6d-42c0-9359-a58a8eabc9a9">792</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5ce17bb13eb84bd39138bc34451fbb1f_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEyLTgtMS0xLTUxMDQ0Mg_b023c6c4-3617-41d9-bbe4-e7b40c4e6120">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id596e6c272a0475789f88da339f34774_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEyLTktMS0xLTUxMDQ0Mg_9ed9272a-709b-4efa-b4d5-a7f4b3e0d25b">9,439</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iff790c6f946f4370b5b45aec42b06403_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEyLTEwLTEtMS01MTA0NDI_96e76681-85c9-41a2-b41a-219ac632ac3d">10,231</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iff790c6f946f4370b5b45aec42b06403_I20221231" decimals="-6" name="tef:CurrentFinancialAssetsAtFairValue" format="ixt:num-dot-decimal" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icaa18fdbfd6048d1ac7fde79d67386fd_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEzLTMtMS0xLTUxMDQ0Mg_fff8003c-222b-48e1-ab10-2c90b95e77bf">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4de317cdde64e72bc5e500c7d98395d_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEzLTgtMS0xLTUxMDQ0Mg_e4a5357f-5d67-4c42-bfa4-4464bf7a5e14">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic99078a1287146768135c95404e9cf01_I20221231" decimals="-6" sign="-" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEzLTktMS0xLTUxMDQ0Mg_6919ec8e-d0e8-4172-bb94-fe43e9998f26">2,891</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic1095381fe5043c5a9dcba021580bac4_I20221231" decimals="-6" sign="-" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEzLTEwLTEtMS01MTA0NDI_1707b0f6-9b0d-4145-9428-44f06b853771">2,891</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic1095381fe5043c5a9dcba021580bac4_I20221231" decimals="-6" name="tef:CurrentFinancialAssetsAtFairValue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzEzLTExLTEtMS01MTA0NDI_138445fa-f458-401d-8434-3b8978676940">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1bbbce59e6414a25b5e2be97ee55fa90_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTEtMS0xLTUxMDQ0Mg_e7571d70-3d75-4485-9c67-6d4ef9ffaa9a">405</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1f70292401054cb0bd1d719bf3534a27_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTItMS0xLTUxMDQ0Mg_135aeda4-03d1-428b-87b1-977609c77b17">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i947c75857b3c458daca30665a21e61f9_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTMtMS0xLTUxMDQ0Mg_04787bae-26fa-4a0d-8321-4682fb8bfd30">41</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iabcde20a86144bfcae0fc7f8c1f1345d_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTQtMS0xLTUxMDQ0Mg_0728edcd-64c5-43d2-afeb-341b46b9222b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7a4ec91cfba443d2946e0c5bd9ae3534_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTUtMS0xLTUxMDQ0Mg_438afeeb-5e66-401b-b537-0f0e06345713">466</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9afc3f69ffd14572b80351263ed0d416_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTYtMS0xLTUxMDQ0Mg_f5c79edb-38d6-4624-8c08-a89293b2f7b1">181</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2dce63c1e8744ef29e3967b86a12cfd1_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTctMS0xLTUxMDQ0Mg_7b39fbdf-31de-468c-b140-394273037f52">721</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1b5417cfe6bf45bb80fe64b180eb1df4_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTgtMS0xLTUxMDQ0Mg_c689a044-d3da-4060-91f4-1b1887ce4031">10</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if3fd68e0e48d4460b6630809bea933b2_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTEwLTEtMS01MTA0NDI_dff7f738-56d5-453e-b613-7c77ded91681">2,444</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ied21d896a80e425b9a686329748e8f94_I20221231" decimals="-6" name="tef:CurrentFinancialAssetsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE0LTExLTEtMS01MTA0NDI_3c1a9eaf-d476-42b9-8cb1-63b68a458b7c">2,444</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction 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name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTItMS0xLTUxMDQ0Mg_a1dc891d-a7ca-420b-9766-9ce4998f1b0e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i81534b8f40c84add97340a4ee1a6e230_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTMtMS0xLTUxMDQ0Mg_82d5f5cc-942b-4403-8bc4-1b70b14f4cd1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3fb5088af4a3432cba4e58e81e6b826b_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTQtMS0xLTUxMDQ0Mg_9f5d935d-37a8-4ea7-86a3-3284a3b5191a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibfcccf26d11540ffa01e496657bb1c46_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTUtMS0xLTUxMDQ0Mg_0b6290ff-33bc-47db-a791-ede7be8776e9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f54adf589fa47bd9eafae3fb3bbf422_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTYtMS0xLTUxMDQ0Mg_18425195-0c3e-4889-8dd8-f288b501329b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i27b5f4fb76b54fb0871331469b58e714_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTctMS0xLTUxMDQ0Mg_bee8f197-f310-4553-ba17-51bf160fb6a3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6db24a48406f458f94c023a56a62fdd8_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTgtMS0xLTUxMDQ0Mg_e449c959-ec05-448c-800e-64ef5963c56c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7c2d7751da749ee9e9f56c5ac9087e4_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTktMS0xLTUxMDQ0Mg_5028ab30-8a6d-42db-8715-e125a7756221">7,245</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb374471c7a54b42bcb0cf3e709609ab_I20221231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTEwLTEtMS01MTA0NDI_cf2e319e-b09d-4212-a099-22ae2e2acfe3">7,245</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb374471c7a54b42bcb0cf3e709609ab_I20221231" decimals="-6" name="tef:CurrentFinancialAssetsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE1LTExLTEtMS01MTA0NDI_833625ae-8fec-44d3-94d8-6d689d879c93">7,245</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iadbd373b8d22463685dbcea006da9f3e_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTEtMS0xLTUxMDQ0Mg_5e21f73b-e2e0-47de-89a8-e731339bb713">728</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6a78a58b4a7d4454821d0bc91663b22e_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTItMS0xLTUxMDQ0Mg_7f77323b-234e-42a4-a982-b6164d20d548">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c1a4773c57f4dba996eb47457efd551_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTMtMS0xLTUxMDQ0Mg_19b7dd08-cdf8-4dcc-aeb5-9ea731c13668">1,183</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i07332bd0488a45f6a8382ce1271f2bf9_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTQtMS0xLTUxMDQ0Mg_6781b8ca-b322-4e86-913c-ff3ef74e5428">465</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i70d86f1d23d44f48a92a2f742d6afd05_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTUtMS0xLTUxMDQ0Mg_06824cda-63d9-4cba-8d7f-61ec375d2221">2,870</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id93580d690404c76ae1582b29321b8cd_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTYtMS0xLTUxMDQ0Mg_01567686-17e6-420c-b25a-ed7c28734c80">645</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i41b623582dc54e23acb76313101ab1bd_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTctMS0xLTUxMDQ0Mg_ccd629ef-dca2-4186-8580-728cc30e2fae">4,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i810ff7398db9406eb58cb464f3a5ee91_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTgtMS0xLTUxMDQ0Mg_adfc53a8-e436-421c-9f36-266ff77ed8e1">21</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib83300aa6d1f4a839feec7f8741fef37_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTktMS0xLTUxMDQ0Mg_42621751-8daa-4d84-8a72-9c4433a50d37">18,002</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iab44211092d34dbba67ab41ab50eb02a_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTEwLTEtMS01MTA0NDI_d5b2cd76-f268-467d-b61a-1844da65857f">23,248</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iab44211092d34dbba67ab41ab50eb02a_I20221231" decimals="-6" name="ifrs-full:FinancialAssetsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZTowMWY5YzIxNTk4M2U0ZmI4ODJkMWQ5NGE2MjUwNjMzYi90YWJsZXJhbmdlOjAxZjljMjE1OTgzZTRmYjg4MmQxZDk0YTYyNTA2MzNiXzE2LTExLTEtMS01MTA0NDI_41c42c56-2028-4749-873a-d9b5ae7139d9">23,248</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-bottom:5pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of the fair values of the Telef&#243;nica 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. </span></div></ix:continuation><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-66</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i1e6d025b483149dcb13dc4df0346c537"><ix:continuation id="i65f6b3f0f5d5494b88ef6124feeae8e2" continuedAt="i24f86fd7611b4c898b77fe81c088e67f"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2021 was as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.911%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.791%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.964%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.257%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.524%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.358%"></td><td style="width:0.1%"></td></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icb327b1e9e464359bd22ea587508f4a1_I20211231" decimals="-6" sign="-" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzEzLTktMS0xLTUxMDQ0Mg_3daf9912-c71d-4643-9e70-f1cccda14207">2,531</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4a440a974fba459dbbd26b897c401cae_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE0LTItMS0xLTUxMDQ0Mg_c7103b8a-66d3-461f-ba9e-2ddc4682e465">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie836e2f974e74e4a82d34072909d40ba_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE0LTUtMS0xLTUxMDQ0Mg_deef08cd-03b6-4431-99f5-e2467b596fdf">908</ix:nonFraction>&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifea38069f54047b7baa453b2d67703df_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE0LTYtMS0xLTUxMDQ0Mg_82c92f7f-1404-42e5-9d95-f9a2ed0bb83b">160</ix:nonFraction>&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5b6f309cd9a741be95c872ba9a4b0569_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE0LTctMS0xLTUxMDQ0Mg_8b50cf14-3439-461b-9bdc-80f4fd17fd4d">1,005</ix:nonFraction>&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia6caa329235e4ecd949bf19da48a51a5_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE0LTktMS0xLTUxMDQ0Mg_61a5fc9a-eb27-42df-b5f6-e8c5528a8bec">2,670</ix:nonFraction>&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifa403527f4554d80a408eeae229d2e53_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" 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0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i35d26e0ba4224aa198a9141931d54f2e_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE1LTQtMS0xLTUxMDQ0Mg_5da4ca55-a25a-4f90-8ff9-438a6964f9f8">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib40a5838be8d4b5abf4e1b32643900d3_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE1LTYtMS0xLTUxMDQ0Mg_d2f49e5a-6868-479f-b11f-18942e3b3111">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idf8c803074a44367bec60c5b846f993f_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE1LTctMS0xLTUxMDQ0Mg_f3fb42b2-17ab-42e0-b7dc-123719d040ac">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i109c6e67c7f441dca0abf9b2acc24f50_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE1LTgtMS0xLTUxMDQ0Mg_c12cecd1-67ec-4971-9c1a-cf350022886c">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie0bec4dcd7524666909b77d62d7cf2b2_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE1LTktMS0xLTUxMDQ0Mg_c1664048-2967-438c-a42b-a68ec8cac6da">8,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia69899b041764b36aea4b378c1dd857b_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE1LTEwLTEtMS01MTA0NDI_589eb39d-1b60-4af0-8af5-3bc61926a57f">8,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia69899b041764b36aea4b378c1dd857b_I20211231" decimals="-6" name="tef:CurrentFinancialAssetsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE1LTExLTEtMS01MTA0NDI_9f1fe6aa-70c6-4890-8ad6-b6bae49f5fe5">8,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie6f550b86b164c5597a7a4e6e644e8dc_I20211231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE2LTEtMS0xLTUxMDQ0Mg_a7178ac0-6d86-45c2-8ef9-be29fd22cf64">724</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i33c6238d0f394b2aa7b51692fdf2b5b9_I20211231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE2LTItMS0xLTUxMDQ0Mg_527b36bb-fc38-4d33-8bb8-deede7ec32ed">1</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if90c21ff504a4c87bf6d33431aa539d3_I20211231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE2LTMtMS0xLTUxMDQ0Mg_aa92bb2e-183a-495b-a641-7479df62ee51">1,225</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE2LTktMS0xLTUxMDQ0Mg_3f962482-ebe7-4fcd-bedd-6ebe57eca530">19,769</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccc64704fac44ad2861b05118fbddaa7_I20211231" decimals="-6" name="ifrs-full:FinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE2LTEwLTEtMS01MTA0NDI_92ed60eb-cbc1-450d-8b01-2aa52f511f58">25,380</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccc64704fac44ad2861b05118fbddaa7_I20211231" decimals="-6" name="ifrs-full:FinancialAssetsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90YWJsZToxZDA5ZjRkYjNiNTA0ZDZmYTM2ZDBmMGUzNmMzNDlmMS90YWJsZXJhbmdlOjFkMDlmNGRiM2I1MDRkNmZhMzZkMGYwZTM2YzM0OWYxXzE2LTExLTEtMS01MTA0NDI_e6edea66-dbbb-4cd6-ae2c-5cf96b149156">25,380</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-67</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_325"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 17. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1Mjgz_ad22aee2-a112-4350-95de-4586b7f6cb57" continuedAt="i505954d80aa34b50924ea34be0f65468" escape="true">Equity</ix:nonNumeric></span></div><ix:continuation id="i505954d80aa34b50924ea34be0f65468" continuedAt="ic9b18c3a746d4a17b27db9f5e7698b4f"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Share capital and share premium</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, Telef&#243;nica, S.A.&#180;s share capital amounted to <ix:nonFraction unitRef="eur" contextRef="i2ecacd5814fe420f9400f9cf3e04d0da_I20221231" decimals="INF" name="ifrs-full:IssuedCapital" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNg_b40e37a6-884f-4f8e-ba39-48df1bc12620">5,775,237,554</ix:nonFraction> euros and is divided into <ix:nonFraction unitRef="shares" contextRef="i2ecacd5814fe420f9400f9cf3e04d0da_I20221231" decimals="INF" name="ifrs-full:NumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE1NQ_26275ad2-319f-4e58-84e3-313613c738de">5,775,237,554</ix:nonFraction> common shares, of a single series and with a par value of <ix:nonFraction unitRef="eurPerShare" contextRef="i2ecacd5814fe420f9400f9cf3e04d0da_I20221231" decimals="INF" name="ifrs-full:ParValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIxNg_aa61fb85-972c-49e2-940c-44e530016273">1</ix:nonFraction> euro each, fully paid in. All the shares of the Company have the same characteristics and carry the same rights and obligations. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors of Telef&#243;nica, S.A. at its meeting held on April 8, 2022, has resolved to carry out the implementation of the share capital reduction through the cancellation of own shares approved by the Annual General Shareholders&#8217; Meeting held on April 8, 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2022, the share capital of Telef&#243;nica, S.A. was reduced in the amount of <ix:nonFraction unitRef="eur" contextRef="ibc57207b266a41e19e3314e08ed187f4_D20220408-20220408" decimals="INF" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzY5NQ_8837d9c3-85a6-4b6c-971c-00c8b6fd8e62">139,275,057</ix:nonFraction> euros, through the cancellation of <ix:nonFraction unitRef="shares" contextRef="i0b306483cd16447d987d5ae89e90f106_D20220408-20220408" decimals="INF" sign="-" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzczMw_19fce10f-f906-4cb3-8111-d2a6ce8a2d73">139,275,057</ix:nonFraction> own shares of the Company held as treasury stock, with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="i11a3b60387d344fcab55413765c8f4a5_I20220408" decimals="INF" name="ifrs-full:ParValuePerShare" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzgxMA_d22c9031-77b2-4544-8f80-4ba085f564ef">one</ix:nonFraction> euro each. The share capital of the Company resulting from the reduction was set at <ix:nonFraction unitRef="eur" contextRef="i13cdd4dacb4145b1a17f857822344648_I20220408" decimals="INF" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzkwMg_3a25873c-7987-4a84-b4bd-6798d65950e6">5,639,772,963</ix:nonFraction> euros corresponding to <ix:nonFraction unitRef="shares" contextRef="i13cdd4dacb4145b1a17f857822344648_I20220408" decimals="INF" name="ifrs-full:NumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzkyOA_6849c3b8-3a86-4a6c-b33a-efb069304b42">5,639,772,963</ix:nonFraction> shares with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="i54d5345e81f04427ad07690e0d1131cf_I20220408" decimals="INF" name="ifrs-full:ParValuePerShare" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0Xzk2Mg_59119acf-655a-48d7-a345-4c36b569bb77">one</ix:nonFraction> euro each. Related to the capital reduction the share premium was reduced by <ix:nonFraction unitRef="eur" contextRef="i104050d0caaa4d4e9ed19cfddba5b855_D20220408-20220408" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwNDg_79aaf0d6-6434-41d2-968d-01a4a0ed2e29">409</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reduction did not entail the return of contributions to the shareholders since the Company is the owner of the cancelled shares. The reduction was carried out with a charge to unrestricted reserves, through the allocation of a reserve for cancelled share capital in an amount equal to the nominal value of the cancelled shares (i.e. for an amount of <ix:nonFraction unitRef="eur" contextRef="ibc57207b266a41e19e3314e08ed187f4_D20220408-20220408" decimals="INF" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE0MjU_752bbe33-1121-474a-81ff-245c2321c8ab">139,275,057</ix:nonFraction> euros), which may only be used in compliance with the same requirements as those established for the reduction of share capital, by application of the provisions of section 335. c) of the Spanish Companies Act. Accordingly, as laid down in such section, the creditors of the Company will not have the right to oppose the reduction mentioned in section 334 of the Spanish Companies Act in connection with the share capital reduction.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 22, 2022, the deed relating to the share capital reduction was registered in the Commercial Registry of Madrid.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 24, 2022 the deed of capital increase amounting to <ix:nonFraction unitRef="eur" contextRef="i41d3338636844c14bf670e7f446543bc_D20220624-20221231" decimals="INF" name="tef:IncreaseDecreaseThroughEquityIssuedAsDividends" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIwMzg_40f62c21-a047-4a09-9a9e-d1a8ce9d0acb">135,464,591</ix:nonFraction> euros, divided into <ix:nonFraction unitRef="shares" contextRef="i41d3338636844c14bf670e7f446543bc_D20220624-20221231" decimals="INF" name="tef:NumberOfSharesIssuedAsDividends" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIwNjE_698bc138-8f12-4dba-9d10-bed7a6e932e3">135,464,591</ix:nonFraction> ordinary shares, with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="i3611c1c2233c475e8e2d1aa450127f0e_I20220624" decimals="INF" name="ifrs-full:ParValuePerShare" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIxMDU_a60d1915-5700-4b0f-954d-640b25794d65">one</ix:nonFraction> euro each, and issued against reserves as part of the scrip dividend, was filed in the Madrid Commercial registry. Following the share capital increase, the share capital was set up at <ix:nonFraction unitRef="eur" contextRef="i337b5ad62eb14d2ea5df5abdf92d5f1e_I20220624" decimals="INF" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyOTM_2068a8ec-4b5d-4bbd-a333-915fc359f1e0">5,775,237,554</ix:nonFraction> euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The shares of Telef&#243;nica, 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).  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2021, Telef&#243;nica, S.A.&#180;s share capital amounted to <ix:nonFraction unitRef="eur" contextRef="i41a6205996dd4364b8531a2c74789db1_I20211231" decimals="INF" name="ifrs-full:IssuedCapital" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzM0MTc_96dfba20-23cd-4fa1-87dd-4aea543d7d70">5,779,048,020</ix:nonFraction> euros and is divided into <ix:nonFraction unitRef="shares" contextRef="i41a6205996dd4364b8531a2c74789db1_I20211231" decimals="INF" name="ifrs-full:NumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzM0NDY_1cde1ec1-22cb-4176-8097-476729342873">5,779,048,020</ix:nonFraction> common shares, of a single series and with a par value of <ix:nonFraction unitRef="eurPerShare" contextRef="i41a6205996dd4364b8531a2c74789db1_I20211231" decimals="INF" name="ifrs-full:ParValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzM1MDc_895e4042-ebf1-4c0a-a8b5-b63f40ebb814">1</ix:nonFraction> euro each, fully paid in.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors of Telef&#243;nica, S.A. at its meeting held on April 23, 2021, resolved to carry out the implementation of the share capital reduction through the cancellation of own shares approved by the Annual General Shareholders&#8217; Meeting held on April 23, 2021.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The share capital of Telef&#243;nica, S.A. was reduced in the amount of <ix:nonFraction unitRef="eur" contextRef="i5dd88b8ef90446658e0ec30fa0496a44_D20210423-20210423" decimals="INF" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzU3MTE_9efd0a80-344f-4312-8579-98c03052b6f9">82,896,466</ix:nonFraction> euros, through the cancellation of <ix:nonFraction unitRef="shares" contextRef="i374b4cf370fd4d13b56376928877d754_D20210423-20210423" decimals="INF" sign="-" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzU3Mjk_88bb8d24-4b4a-4b43-a78d-6ebbb3b7800d">82,896,466</ix:nonFraction> own shares of the Company held as treasury stock, with a nominal value of one euro each. The share capital of the Company resulting from the reduction was set at <ix:nonFraction unitRef="eur" contextRef="i82dbe5e816b84738a822dae7adaeb50e_I20210423" decimals="INF" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzU3NDI_8b0fb2ee-83da-45a1-a508-8b3f4252c9a8">5,443,534,596</ix:nonFraction> euros corresponding to <ix:nonFraction unitRef="shares" contextRef="i82dbe5e816b84738a822dae7adaeb50e_I20210423" decimals="INF" name="ifrs-full:NumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzU3NTc_27352658-c1aa-4e72-a8d7-341c7baa8e38">5,443,534,596</ix:nonFraction> shares with a nominal value of one euro each. Related to the capital reduction the share premium was reduced by <ix:nonFraction unitRef="eur" contextRef="i716d0800beb64393882335e7d067729a_D20210423-20210423" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzU3NzI_afe72662-eb46-49c0-9ae2-e2eb397cdddd">305</ix:nonFraction> million euros.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-68</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ic9b18c3a746d4a17b27db9f5e7698b4f" continuedAt="ie6ab4542dacb46f495a55e96bcd0f862"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reduction was carried out with a charge to unrestricted reserves, through the allocation of a reserve for cancelled share capital in an amount equal to the nominal value of the cancelled shares (i.e. for an amount of <ix:nonFraction unitRef="eur" contextRef="i5dd88b8ef90446658e0ec30fa0496a44_D20210423-20210423" decimals="INF" sign="-" name="ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzU3ODY_a64f9b7a-7d0b-442c-a932-9532b1c748b8">82,896,466</ix:nonFraction> euros), which may only be used in compliance with the same requirements as those established for the reduction of share capital. Accordingly, the creditors of the Company did not have the right to oppose the reduction mentioned in section 334 of the Spanish Companies Act in connection with the share capital reduction.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 5, 2021, the deed relating to the share capital reduction was registered in the Commercial Registry of Madrid.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 22, 2021 the deed of capital increase amounting to <ix:nonFraction unitRef="eur" contextRef="ie43333ac6d834da596757c383232ebf4_D20210622-20210622" decimals="INF" name="tef:IncreaseDecreaseThroughEquityIssuedAsDividends" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzY5MTQ_cffa67a3-3c53-403d-8044-387a18357909">194,518,911</ix:nonFraction> euros, divided into <ix:nonFraction unitRef="shares" contextRef="ie43333ac6d834da596757c383232ebf4_D20210622-20210622" decimals="INF" name="tef:NumberOfSharesIssuedAsDividends" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzY5Mjc_8c5bd6d5-85a5-42fe-90a0-1d1d8119f9b3">194,518,911</ix:nonFraction> ordinary shares, with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="iff267dada5264acfae386e839fcbd452_I20210622" decimals="INF" name="ifrs-full:ParValuePerShare" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzY5NDA_87387d12-a2b0-46d0-8f23-1b1251d90b2d">one</ix:nonFraction> euro each, and issued against reserves as part of the scrip dividend, was filed in the Madrid Commercial registry. Following the share capital increase, the share capital was set up at <ix:nonFraction unitRef="eur" contextRef="i8e74b6156d3e4a61b503bfcff6369229_I20210622" decimals="INF" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzY5NDM_446b84ca-d65e-4638-a905-05de37248f86">5,638,053,507</ix:nonFraction> euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 3, 2021, the Board of Directors agreed to submit for the approval of the General Shareholders Meeting of the Company the adoption of the appropriate corporate resolutions to execute a capital reduction by means of a redemption of treasury shares representing approximately <ix:nonFraction unitRef="number" contextRef="i9ef69abb013f44f3854fdb720ecb2cb7_I20211103" decimals="4" name="tef:CapitalReductionByRedemptionOfTreasurySharesPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzY5NzQ_d6be7558-2f6c-4ef3-9436-981ab1eaa5d4">1.65</ix:nonFraction>% of the share capital.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 23, 2021, the capital increased in the amount of <ix:nonFraction unitRef="eur" contextRef="i5eb5e3a148d94e93a633b4224e5c4830_D20211223-20211223" decimals="INF" name="tef:IncreaseDecreaseThroughEquityIssuedAsDividends" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2Nzc1NTg_52f628da-1ea9-4a5d-b3fb-48bacd92993a">140,994,513</ix:nonFraction> euros, in which <ix:nonFraction unitRef="shares" contextRef="i5eb5e3a148d94e93a633b4224e5c4830_D20211223-20211223" decimals="INF" name="tef:NumberOfSharesIssuedAsDividends" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2Nzc1Njg_732de3ff-7c9b-44cf-b8ac-cc12f79692de">140,994,513</ix:nonFraction> ordinary shares with a par value of <ix:nonFraction unitRef="eurPerShare" contextRef="i0f64e999aaf847a5a7cf5c6a7a33a8c7_I20211223" decimals="INF" name="ifrs-full:ParValuePerShare" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2Nzc1Nzk_91ce4096-aa35-4eb1-a718-600ce2d41c1c">one</ix:nonFraction> euro each were issued against reserves as part of the scrip dividend. Following the share capital increase, the share capital was set at <ix:nonFraction unitRef="eur" contextRef="i36103d51b2b5471f9f0f801942550e54_I20211223" decimals="INF" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2Nzc1ODE_15ce1d32-4bab-413a-a53e-823f18352b0a">5,779,048,020</ix:nonFraction> euros. On that date, the deed was filed in Madrid Companies' Register.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Authorizations by Shareholders&#8217; Meeting</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As regards the authorizations conferred in respect of the share capital, the shareholders acting at the Ordinary General Shareholders&#8217; 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 <ix:nonFraction unitRef="eur" contextRef="i243c418284f14ca7a6152e40af21d4cc_I20200612" decimals="INF" name="tef:MaximumAuthorizedIssuedCapital" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzQ3MTQ_59576e47-5ca2-4108-a60d-4a5bf1b7923c">2,596,065,843</ix:nonFraction> euros, equal to one-half of the share capital of the Company on the date of adoption of the resolution at the General Shareholders&#8217; 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 2022, the Board would be authorized to increase the share capital by the maximum nominal amount of <ix:nonFraction unitRef="eur" contextRef="i2ecacd5814fe420f9400f9cf3e04d0da_I20221231" decimals="INF" name="tef:MaximumAuthorizedIssuedCapital" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzU1NTc_f60d89da-5bdb-4a39-8744-6cc21b7076ef">2,596,065,843</ix:nonFraction> euros. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, the shareholders acting at the Ordinary General Shareholders&#8217; Meeting of Telef&#243;nica, 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&#8217;s By-Laws,  the power to issue securities, including preferred shares and 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, <ix:nonFraction unitRef="eur" contextRef="i78cab18475804f8fa5546a9c7f1a4607_D20211223-20211223" decimals="INF" name="tef:AggregateAmountofIssuanceofSecurities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzcwOTc_006530a5-9f48-495c-aaa5-6671850fda27">25,000</ix:nonFraction> 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.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, under the aforementioned delegation resolution, the shareholders at the Ordinary General Shareholders&#8217; Meeting of Telef&#243;nica, S.A. resolved to authorize the Board of Directors to guarantee, in the name of </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-69</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie6ab4542dacb46f495a55e96bcd0f862" continuedAt="i3b004cc412e54378b613e56418677e93"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, on June 8, 2018, shareholders voted to authorize the acquisition by the Board of Directors of Telef&#243;nica, S.A. treasury shares, up to the limits and pursuant to the terms and conditions established at the Shareholders&#8217; 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 Telef&#243;nica, S.A. and by any of its controlled subsidiaries, exceed the maximum legal percentage at any time. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b) Dividends</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends distribution in 2022</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Approval was given at the General Shareholders&#8217; Meeting of April 8, 2022 to pay a dividend in two tranches. The first tranche through a scrip dividend amounting to approximately <ix:nonFraction unitRef="eurPerShare" contextRef="ic616ee3ebf624560980c4bc07559e6ef_D20220408-20220408" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NjMzNTM_474ee140-d469-4590-81bc-e75a79576522">0.15</ix:nonFraction> euros per share took place on June 2022 and consist on the assignment of free allotment rights with an irrevocable purchase commitment by the Company. The  second tranch amounting to approximately <ix:nonFraction unitRef="eurPerShare" contextRef="ia2abb1b127ab48ceb06d710f7351505c_D20221215-20221215" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NjMzNTk_a5c46cf8-2c1c-45e0-8910-2016f4b87094">0.15</ix:nonFraction> euros per share took place in December 2022, after the adoption of the corresponding corporate resolutions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting held on May 25, 2022, the Executive Commission of Telef&#243;nica, S.A. 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 Telef&#243;nica 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 <ix:nonFraction unitRef="number" contextRef="ic54f9044534e43dea0ec27d48a22af5b_I20220525" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NjgyODA_4ad4446e-cf2f-490a-b52d-0b0aaabc760f">25.54</ix:nonFraction>% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. The payment to these shareholders was made on June 16, 2022. The gross impact of this dividend amounts to <ix:nonFraction unitRef="eur" contextRef="iea0ebd52a7ca48468b7c767650c89ec2_D20220525-20220525" decimals="-6" name="ifrs-full:DividendsPaidOrdinaryShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NjgyODg_68c62947-784e-4736-a2ed-9abdd7d4eb2e">213</ix:nonFraction> million euros. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of <ix:nonFraction unitRef="number" contextRef="i3611c1c2233c475e8e2d1aa450127f0e_I20220624" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NjgyOTM_e44765a2-b3fa-4145-9024-f6e3c8ea5e14">74.46</ix:nonFraction>% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of shares issued on June 24, 2022 in the capital increase was <ix:nonFraction unitRef="shares" contextRef="idd6e93401bfe4fc3b4931ec250fdaa45_D20220624-20221231" decimals="INF" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NjgzMDE_aa89fe4c-ab87-46e6-bb98-f19d1b8379db">135,464,591</ix:nonFraction> shares with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="i3611c1c2233c475e8e2d1aa450127f0e_I20220624" decimals="INF" name="ifrs-full:ParValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NjgzMTQ_1c1b54e8-7219-4fde-828a-8fb0d4e4d3fa">1</ix:nonFraction> euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The second tranch of the dividend was paid on December 15, 2022 and had an impact in equity amounting to <ix:nonFraction unitRef="eur" contextRef="ia2abb1b127ab48ceb06d710f7351505c_D20221215-20221215" decimals="-6" name="ifrs-full:DividendsPaidOrdinaryShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzAwNjU_7a12a39c-9a1f-425f-978e-b72c43e2d95a">854</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends distribution in 2021</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Approval was given at the General Shareholders&#8217; Meeting of April 23, 2021 to pay a scrip dividend amounting to approximately <ix:nonFraction unitRef="eurPerShare" contextRef="i801df77b1dcf4925b33fc953975afb69_D20210423-20210423" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0Xzg2MTg_3bb8f3cc-dd0a-4cd8-b5e1-e46f391188b6">0.35</ix:nonFraction> euros per share in <ix:nonFraction unitRef="tranche" contextRef="i778e84efdf4646358147142f92bb294f_I20210423" decimals="INF" name="tef:NumberOfTranchesForDividendsPayable" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0Xzg2NDA_d436d197-7feb-4778-a548-b735f0c2cb9d">two</ix:nonFraction> 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 tranch, amounting approximately <ix:nonFraction unitRef="eurPerShare" contextRef="i6371f0ee76a64a7296768c2756cdcac2_D20210601-20210630" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzkwMTM_141d0608-fa7c-479e-a878-bff10a953845">0.20</ix:nonFraction> euros per share, took place in June of 2021 and the second tranch amounting approximately <ix:nonFraction unitRef="eurPerShare" contextRef="i4b287804e8104a50b1fbbe5542b38a18_D20211201-20211231" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzkxMDY_bb1a56e9-60a1-42cf-b377-df98b43fc060">0.15</ix:nonFraction> euros per share took place in December 2021, after the adoption of the corresponding corporate resolutions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting held on May 26, 2021, the Executive Commission of Telef&#243;nica, S.A. 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 Telef&#243;nica share held. Such free allotment rights were traded on the Continuous Market in Spain during a period of <ix:nonNumeric contextRef="ic643dfaf03e1480e9602195f40310315_D20210526-20210526" name="tef:FreeOfChargeAllotmentRightsTradingPeriod" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0Xzk2NDA_2d2739bb-2d1f-4781-9bd4-9ae0fb67b2b6">15</ix:nonNumeric> calendar days. Once this trading period ended, the shareholders of <ix:nonFraction unitRef="number" contextRef="ibe08b2b0fb1a4cb4ac11bae9131e5ea1_I20210526" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0Xzk3MTA_b81f39fb-2eda-4973-a632-80631443b4d5">28.53</ix:nonFraction>% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. Cash payment to these shareholders was made on June 17, 2021. The gross impact of this dividend amounts to <ix:nonFraction unitRef="eur" contextRef="i32bd1f78d1aa44629bc47368f6b7aa55_D20210617-20210617" decimals="-6" name="ifrs-full:DividendsPaidOrdinaryShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0Xzk5MzM_ac6e2b5a-ab46-4fb9-9240-5a1f4ba0a505">308</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of <ix:nonFraction unitRef="number" contextRef="iff267dada5264acfae386e839fcbd452_I20210622" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0Xzk5OTA_3e8d9ae5-2d02-425b-b6c1-da66e314762a">71.47</ix:nonFraction>% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of shares issued after June 22, 2021 in the capital increase was <ix:nonFraction unitRef="shares" contextRef="ib3ae98f314b441a7bb94107c2769f378_D20210623-20211231" decimals="INF" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwMTg2_51490a92-8c4c-4cad-b13b-e00fdd1a15cd">194,518,911</ix:nonFraction> shares with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="iff267dada5264acfae386e839fcbd452_I20210622" decimals="INF" name="ifrs-full:ParValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwMjIw_557bd5c9-11d0-4cbb-9f68-b2c25c73830c">1</ix:nonFraction> euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Executive Commission of Telef&#243;nica, S.A. Board of Directors meeting of November 3, 2021 agreed the implementation of the second capital increase with charge to reserves related to the shareholder compensation by means of a scrip dividend. Thus, each shareholder received <ix:nonFraction unitRef="allotmentright" contextRef="i9ef69abb013f44f3854fdb720ecb2cb7_I20211103" decimals="INF" name="tef:NumberOfFreeOfChargeAllotmentRights" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwNTA5_f310a182-9f14-49e1-b7f3-e71ece8a6dd5">1</ix:nonFraction> free allotment right for each Telef&#243;nica share held. The shareholders of <ix:nonFraction unitRef="number" contextRef="i11442db7a6534f6da236441412bbc3c5_I20211103" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwNTg1_752563d1-4683-46e5-aead-f72c9bbd4320">34.98</ix:nonFraction>% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. Cash payment was made on December 17, 2021 and had an impact in equity amounting to <ix:nonFraction unitRef="eur" contextRef="i189271fdbcbd40b1a3c8b347cef558a1_D20211217-20211217" decimals="-6" name="ifrs-full:DividendsPaidOrdinaryShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwNzg0_3d748fdc-8de0-4118-bdd2-e37d011b944b">292</ix:nonFraction> million euros.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-70</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i3b004cc412e54378b613e56418677e93" continuedAt="ie7fe60585d5549ababf3763a4cb38beb"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of <ix:nonFraction unitRef="number" contextRef="i11442db7a6534f6da236441412bbc3c5_I20211103" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwODQx_090a78f6-f4d7-47db-b34a-5a7781eb9ff8">65.02</ix:nonFraction>% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of shares issued on December 23, 2021 in the capital increase was <ix:nonFraction unitRef="shares" contextRef="ifaaa362fe51c43689bffd7791c7739da_D20211223-20211223" decimals="INF" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzExMDM3_736c6aeb-ae54-4d94-b743-6aed997971da">140,994,513</ix:nonFraction> shares with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="i0f64e999aaf847a5a7cf5c6a7a33a8c7_I20211223" decimals="INF" name="ifrs-full:ParValuePerShare" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzExMDcx_cd59c628-21df-4c45-86c9-0eb068726eff">one</ix:nonFraction>  euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends distribution in 2020</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Approval was given at the General Shareholders&#8217; Meeting of June 12, 2020 to pay a scrip dividend amounting to approximately <ix:nonFraction unitRef="eurPerShare" contextRef="ie4b9a6b4b43b4fce86ae4d62165851ec_D20200612-20200612" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzExMjQw_eb0335d8-2f87-49b8-a694-c3f2414b1541">0.40</ix:nonFraction> euros per share in <ix:nonFraction unitRef="tranche" contextRef="i946e69478b434343a0387e5e6a9bbfc8_I20200612" decimals="INF" name="tef:NumberOfTranchesForDividendsPayable" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzExMjYy_a442ecc4-631d-4602-a26b-55b06f3ec049">two</ix:nonFraction> 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 <ix:nonFraction unitRef="eurPerShare" contextRef="i91fb163890254968a47dd84fed71499f_D20200601-20200630" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzExNjM3_527f6259-44ec-4d0e-9ccd-34b86f5ff83d">0.20</ix:nonFraction> euros per share, took place in June of 2020 and the second tranche, amounting approximately <ix:nonFraction unitRef="eurPerShare" contextRef="i4252af1c9da64e18af9cae9a3fc7167b_D20201201-20201231" decimals="2" name="ifrs-full:DividendsPaidOrdinarySharesPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzExNzMy_046ad183-8bd2-4f19-81f6-3a6ee7998bbc">0.20</ix:nonFraction> euros per share, took place in December 2020, after the adoption of the corresponding corporate resolutions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <ix:nonFraction unitRef="allotmentright" contextRef="i946e69478b434343a0387e5e6a9bbfc8_I20200612" decimals="INF" name="tef:NumberOfFreeOfChargeAllotmentRights" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyMDc4_339fa459-a6ee-4686-b653-8d910f818c41">one</ix:nonFraction> free allotment right for each Telef&#243;nica share held. Such free allotment rights were traded on the Continuous Market in Spain during a period of <ix:nonNumeric contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" name="tef:FreeOfChargeAllotmentRightsTradingPeriod" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyMjI2_bf5bc75b-1993-4eb5-92d8-c749283fa895">15</ix:nonNumeric> calendar days. Once this trading period ended, the shareholders of <ix:nonFraction unitRef="number" contextRef="i243c418284f14ca7a6152e40af21d4cc_I20200612" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyMjk2_7d76f72d-ccd4-4a86-9e69-416b844c3170">36.99</ix:nonFraction>% of the free-ofcharge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. Cash payment was made on July 3, 2020 and had an impact in equity amounting to <ix:nonFraction unitRef="eur" contextRef="i8d9cb3b00e594345838a0f5b0ca66785_D20200703-20200703" decimals="-6" name="ifrs-full:DividendsPaidOrdinaryShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNDg5_1777672f-245b-43fb-991a-6fac769f79e4">371</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of <ix:nonFraction unitRef="number" contextRef="i243c418284f14ca7a6152e40af21d4cc_I20200612" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNTQ2_db177ed5-9e21-434f-abcf-475b5db3a613">63.01</ix:nonFraction>% of the free of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of shares issued after June 30, 2020 in the capital increase was <ix:nonFraction unitRef="shares" contextRef="id17cc0b7e3fd40c7a8cbeef55201c128_D20200701-20201231" decimals="INF" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNzQx_964668f8-3b49-42e4-b1e0-c332f150b9f4">136,305,986</ix:nonFraction> shares with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="i638f24879e7b42e1ba4a513754162fa9_I20200630" decimals="INF" name="ifrs-full:ParValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNzc1_20bd18a2-e3e2-47b5-b925-73084f5b1d05">1</ix:nonFraction> euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Executive Commission of Telef&#243;nica, 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 <ix:nonFraction unitRef="number" contextRef="ic9a9a6b72c8c4b2bb68f173fb718c3d2_I20201204" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzMDUy_b341090e-cedb-4683-a06c-f3b99504ead8">33.12</ix:nonFraction>% of the free of- charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. Cash payment was made on December 30, 2020 and had an impact in equity amounting to <ix:nonFraction unitRef="eur" contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204" decimals="-6" name="ifrs-full:DividendsPaidOrdinaryShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzMjUy_287f0068-355e-4ac5-b3ec-85907c458d5b">342</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of <ix:nonFraction unitRef="number" contextRef="ic9a9a6b72c8c4b2bb68f173fb718c3d2_I20201204" decimals="4" name="tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzMzA5_6d556078-acc1-4139-b56a-2e0864232ab0">66.88</ix:nonFraction>% of the free of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of ordinary shares with a nominal value of <ix:nonFraction unitRef="eurPerShare" contextRef="ic9a9a6b72c8c4b2bb68f173fb718c3d2_I20201204" decimals="INF" name="ifrs-full:ParValuePerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNDgy_17688111-b9fa-4bf8-88ff-a110af9d54e3">1</ix:nonFraction> euro issued in the capital increase was <ix:nonFraction unitRef="shares" contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204" decimals="INF" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNTI1_4a23dda4-5eec-4051-9c87-402e867adae3">197,993,390</ix:nonFraction> corresponding to <ix:nonFraction unitRef="number" contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204" decimals="4" name="tef:IncreaseDecreaseInShareCapitalPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNTQ1_39385bc7-ea9f-4293-8081-9e87cb6ae86d">3.72</ix:nonFraction>% of the share capital, being <ix:nonFraction unitRef="shares" contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204" decimals="INF" name="ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNTc2_f3cf5258-30e4-4cb2-8abc-8ecb6c069c25">197,993,390</ix:nonFraction> euros the capital increase.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Proposed distribution of results of the parent company </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. generated <ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ProfitLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE0MjMx_f3169eaa-2255-497e-882d-7a58e2ed00a9">880</ix:nonFraction> million euros of losses in 2022. </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DistributionofProfitTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MzQy_42c7f354-8823-4313-8857-37e1735a38d4" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s Board of Directors will submit the following proposed distribution of 2022 results for approval at the Shareholders&#8217; Meeting:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal reserve</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="tef:ProposedDistributionLegalReserve" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzllYWU5NmU2ZjI0MTVkYThhYWVkZmY0NjdiMGM1Yy90YWJsZXJhbmdlOmQzOWVhZTk2ZTZmMjQxNWRhOGFhZWRmZjQ2N2IwYzVjXzEtMS0xLTEtNTEwNDQy_2e5e69db-33e9-40ff-97c8-2dd2e69ba027">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unrestricted reserves</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="tef:ProposedDistributionOtherReserves" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzllYWU5NmU2ZjI0MTVkYThhYWVkZmY0NjdiMGM1Yy90YWJsZXJhbmdlOmQzOWVhZTk2ZTZmMjQxNWRhOGFhZWRmZjQ2N2IwYzVjXzItMS0xLTEtNTEwNDQy_63c6189b-cbf4-4514-8ed4-e2e2c766f75c">880</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ProfitLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzllYWU5NmU2ZjI0MTVkYThhYWVkZmY0NjdiMGM1Yy90YWJsZXJhbmdlOmQzOWVhZTk2ZTZmMjQxNWRhOGFhZWRmZjQ2N2IwYzVjXzMtMS0xLTEtNTEwNDQy_f3169eaa-2255-497e-882d-7a58e2ed00a9">880</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-71</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie7fe60585d5549ababf3763a4cb38beb" continuedAt="i835be89c87984fce820403789fe6211a"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Other equity instruments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Undated deeply subordinated securities</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless specified otherwise, undated deeply subordinated securities were issued by Telef&#243;nica Europe, B.V. </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MzA4_83a0dec9-d241-468a-be12-41ced7e0ae2f" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.856%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.052%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.030%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Issue date</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Annual&#160;<br/>Fix&#160;&#160;&#160;&#160;&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variable</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exercisable by issuer</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tender Offer</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount repurchased</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Redemption</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td></tr><tr><td colspan="3" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4fbb348d7f048d187a2870603e3c861_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtNC0xLTEtNzAzNDIy_58809291-80ee-4af8-a0d4-fc7d83dc2359">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i77bd49de7513426e8c30f51443eaaa4b_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtNS0xLTEtNzAzNDIy_d4f6bcd2-16ff-4f3a-9188-5d3a4051a943">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i77bd49de7513426e8c30f51443eaaa4b_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtNy0xLTEtNzAzNDIy_802492fa-e218-4ebe-8aed-98419d902f17">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0d873c1fa7fa41aa9e8ef0f673a16859_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtOC0xLTEtNzAzNDIy_99a601ad-35d1-4b9f-92f8-592f1e4a6824">750</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/24/2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iefd3c11e7c4145899cf2d327d103723d_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtMS0xLTEtNTEwNDQy_73d5343c-efc1-47bb-a6c1-aa8b0715e5e0">2.875</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/24/28 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i03636570f4d446ed8ceac42e24907863_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtNS0xLTEtNTEwNDQy_223ae5a3-5500-4992-ba0d-d796dfbf6d42">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i03636570f4d446ed8ceac42e24907863_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtNy0xLTEtNTEwNDQy_8291511a-b367-4334-b7c4-430bc7144d15">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib6d3b4e3c5fd4f3fbc6e435fdb042ec8_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEtOC0xLTEtNTEwNDQy_32b99cbf-6a87-47ed-93bf-e1a3ab279ec3">750</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2/12/2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i118be66778a441ed91b34c1bb90b575d_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80b6666d5ef84ebfbdffe3f22feb93e8_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzItNC0xLTEtNTEwNDQy_17b8bf43-2d0b-47e4-99ab-f635c9d81744">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id351702b22fd4fc4a98b42967df6449d_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzItNS0xLTEtNTEwNDQy_cecd8e96-c2b4-431c-a4bc-fe0d97d15855">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id351702b22fd4fc4a98b42967df6449d_D20220101-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzItNi0xLTEtNTEwNDQy_3a79f56a-ab7d-4377-8476-783a0922f38f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id351702b22fd4fc4a98b42967df6449d_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzItNy0xLTEtNTEwNDQy_487bbb7c-df2d-4a20-ba33-4e83066fb2f7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idc4c61eb30e9443384e2c7470c35d01d_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzItOC0xLTEtNTEwNDQy_4444a1b9-75ae-4b6f-a2c0-a4f69deb724d">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2/5/2020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i9263d3a95c774301ab5bb30ce7e54f50_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzMtMS0xLTEtNTEwNDQy_144b1a74-f2f0-4394-ba03-610eec94f023">2.502</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/05/27 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i502c10b65cce47d6931afb450e7ea6d4_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzMtNS0xLTEtNTEwNDQy_684154a7-c648-4213-93c5-9e96b7ef5a49">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i502c10b65cce47d6931afb450e7ea6d4_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzMtNy0xLTEtNTEwNDQy_450428dc-8f96-45a0-acf8-5999736b5d9d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i02e08ab39ac74b0ea4029a902b2408e5_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzMtOC0xLTEtNTEwNDQy_931e6611-35b2-423b-9b13-d97ccfb8e289">500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/24/2019</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i49381621aafa45ccae7631563489044d_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzQtMS0xLTEtNTEwNDQy_b6d17029-f8f5-4481-890e-966913af5e9c">2.875</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 09/24/27 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i40cfec1e7371421596c11ba93e894f76_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzQtNC0xLTEtNTEwNDQy_2c195a99-17c9-4e49-93e5-fc7057338302">500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4acda28f096549dcbe324ac754cedc93_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzQtNS0xLTEtNTEwNDQy_f5dcd5c4-7cc2-4c32-ad0e-4f32dbdf2b92">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4acda28f096549dcbe324ac754cedc93_D20220101-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzQtNi0xLTEtNTEwNDQy_c4fd5cc2-decd-43a5-9f90-8c51f16fb1e8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4acda28f096549dcbe324ac754cedc93_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzQtNy0xLTEtNTEwNDQy_6d447327-36e1-4348-a551-4db69efd9514">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idcc05e6b32ad40aeb302839b87afb4db_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzQtOC0xLTEtNTEwNDQy_1ef9d011-8fb2-4ca8-8a7b-aefc256182dd">500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/14/2019</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzUtNC0xLTEtNTEwNDQy_dc688cb7-0255-4a97-a649-51386281515c">1,300</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb54bc89e0dd4e7d965cb29e4994a945_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzUtNS0xLTEtNTEwNDQy_9b08c73a-4126-4565-a2f7-ed1eaf36ce68">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb54bc89e0dd4e7d965cb29e4994a945_D20220101-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzUtNi0xLTEtNTEwNDQy_cbfc5357-18f5-4088-a12a-83be1b4c6df1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb54bc89e0dd4e7d965cb29e4994a945_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzUtNy0xLTEtNTEwNDQy_e1ebd7b5-ba82-4a9c-9cfb-ea9097bc944b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i311ba00c823c4384827aef272af90fc7_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzUtOC0xLTEtNTEwNDQy_c78a0456-3ee7-4cfa-b5d5-16772a91527a">1,300</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:36pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/22/2018</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id96a9946b7a94023a550179437cffc1c_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzYtMS0xLTEtNTEwNDQy_ab0b402e-569b-4b19-905c-b4e8cb3e3314">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 12/04/23 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i142e7041e09949f597da0a1ce554b35c_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzYtNC0xLTEtNTEwNDQy_040f7c8b-376f-42a0-8d92-4da0a4b88d12">824</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic977f6307aac42c1bbdd397787f684ec_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzYtNS0xLTEtNTEwNDQy_f9d1f7d2-8e00-4ba5-bb37-c14b315cea4b">824</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic977f6307aac42c1bbdd397787f684ec_D20220101-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzYtNi0xLTEtNTEwNDQy_378e49f5-e127-4166-867b-bfaf38f0a8c6">74</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic977f6307aac42c1bbdd397787f684ec_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzYtNy0xLTEtNTEwNDQy_85845ea1-ddee-4261-ade8-3986ff2d3e53">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9a9ec881bb334da8b2192229a6f33620_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzYtOC0xLTEtNTEwNDQy_2b782ea3-022f-452b-b7ba-5bf627c3a79d">750</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:38pt"><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id698b684168c40b49e72c91155abb944_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzctMS0xLTEtNTEwNDQy_e5ac1fa1-3e77-4e08-b0a0-cdd37feb86c4">3.875</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 09/22/26 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2026</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i47bdd016c0494878bc58f3754ecc48e5_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzctNC0xLTEtNTEwNDQy_bd4ae834-2f5f-4d5b-ba4d-a08abdfb931d">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i030ff10ac84b4d67bc41c67dd53a2108_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzctNS0xLTEtNTEwNDQy_248f1b05-f28f-40ef-8785-2efb8cd695d7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i030ff10ac84b4d67bc41c67dd53a2108_D20220101-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzctNi0xLTEtNTEwNDQy_ade1e1f4-6c21-4075-802a-8161c38eb024">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i030ff10ac84b4d67bc41c67dd53a2108_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzctNy0xLTEtNTEwNDQy_db6d8d8d-3692-4dc1-a663-20cc373758d2">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf5e9022c9274c54ab2d162e63fc2282_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzctOC0xLTEtNTEwNDQy_ea70a5dc-9632-4369-a81f-511fc3dbafa4">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/07/2017</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ifc5407661cf74584839df7ad53b13600_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzgtMS0xLTEtNTEwNDQy_c3c743b9-e0b0-4854-8f01-8f8184f09869">2.625</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 06/07/23 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i90882d41098145079062c901ed08e8b1_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzgtNC0xLTEtNTEwNDQy_fa62a499-3ef4-4ca2-a11a-0382b89bcbc1">676</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i297cdfd3e4e84adfb1754075a15b9fd0_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzgtNS0xLTEtNTEwNDQy_736eff2b-58d9-4968-8eaf-728d6eb1d9ff">676</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i297cdfd3e4e84adfb1754075a15b9fd0_D20220101-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzgtNi0xLTEtNTEwNDQy_bd238780-1fc3-4989-bfd6-f2b85cb81c6e">547</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i297cdfd3e4e84adfb1754075a15b9fd0_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzgtNy0xLTEtNTEwNDQy_92f0cbd7-0c1a-43ab-b660-cf4b881dcfd4">129</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c75d8cbbd6d488482aef526187e7fdd_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzgtOC0xLTEtNTEwNDQy_9be440c5-3509-4be0-97da-cc66c7ca2dae">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2014</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEwLTQtMS0xLTUxMDQ0Mg_5aab6e6c-e06b-40bb-a0ac-aa7a328717e0">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia7c155ae425c47a7ac3ec54b592a4de4_D20220101-20221231" decimals="-6" name="tef:TenderOfferofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEwLTUtMS0xLTUxMDQ0Mg_831e86df-652c-4170-a294-65b6b2f6c4f7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia7c155ae425c47a7ac3ec54b592a4de4_D20220101-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEwLTYtMS0xLTUxMDQ0Mg_0ca9b6dc-00f3-4f26-acaf-a70305a1455b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia7c155ae425c47a7ac3ec54b592a4de4_D20220101-20221231" decimals="-6" name="tef:RedemptionofEquityInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEwLTctMS0xLTUxMDQ0Mg_5a0ef928-c8f3-44ad-83e8-a3eb532f6677">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i23d88639f928479ba895eff30ba65650_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzEwLTgtMS0xLTUxMDQ0Mg_d4db30d4-171f-4b38-847f-c7a7aecb0a4d">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i58f86b8469b54afa9d154db0fbc8922c_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzExLTQtMS0xLTUxMDQ0Mg_0021edf2-553a-4a99-ae02-03ea96695cff">7,550</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i866af14894e4482498129efd2ae0e611_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5YTk0ZGQ4M2ZkYmY0NGUwODY1YjE0YWUzMDg1ZmQzOC90YWJsZXJhbmdlOjlhOTRkZDgzZmRiZjQ0ZTA4NjViMTRhZTMwODVmZDM4XzExLTgtMS0xLTUxMDQ0Mg_6bcbc98d-677c-4205-9b2f-74043ea9d701">7,550</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Green undated deeply subrodinated securities (see Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Sustanible undated deeply subordinated securities (see Nota 29.d)</span></div></ix:nonNumeric><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In all issuances of undated deeply subordinated securities (hybrid instruments), the issuer has an option to defer the payment of coupons and holders of such securities cannot call for payment. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As the repayment of principal and the payment of coupons depend solely on Telef&#243;nica&#8217;s decision, these undated deeply subordinated securities are equity instruments and are presented under &#8220;Other equity instruments&#8221; in the accompanying consolidated statement of changes in equity. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2022, Telef&#243;nica Europe, B.V. carried out several transactions on its hybrid capital: (a) a new issue amounting to <ix:nonFraction unitRef="eur" contextRef="i36d5bb498fa94c18a07990106b3156ad_I20221130" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE1Mzk0_e6302a39-92c8-4e02-9178-672d2023cbaa">750</ix:nonFraction> million euros, guaranteed by Telef&#243;nica, S.A. (see Note 29.d); (b) a tender offer on a hybrid instruments, denominated in euros, with first call dates in March and September 2023. The issuer accepted the purchase in cash of the tendered securities in a principal amount of <ix:nonFraction unitRef="eur" contextRef="i6408ffd1ed824fa3aabfa02b92fa4859_D20221101-20221130" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE1NjU2_054094d5-5208-45ee-97c7-175f8d31504d">621</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In December 2022, Telef&#243;nica Europe, B.V. was exercised the clean-up call option for the remaining hybrid instruments with first non-call date March 2023, with an aggregate principal amount of <ix:nonFraction unitRef="eur" contextRef="i16441f11c3b84883a6b70e9fbcd18fb0_D20221201-20221231" decimals="-6" name="tef:AmountRepurchasedofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2ODI5NTM_71b449a6-7c27-4efa-9fbf-fff724d5adba">129</ix:nonFraction> million euros.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-72</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i835be89c87984fce820403789fe6211a" continuedAt="i5b416116c1ba4c6882a30dfbb2f2dfe7"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2022, the payment of the coupons related to hybrids instruments, in an aggregate amount, net of tax effects, of <ix:nonFraction unitRef="eur" contextRef="i456c33e4d2bd4a14a6562f725fa0c89b_D20220101-20221231" decimals="-6" name="tef:PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE2NjI4_9890d97c-d361-4253-9b01-e72c53fd9534">201</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ia9cf994fc3b344e89cf25e4120c8895a_D20210101-20211231" decimals="-6" name="tef:PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE2NjM4_6e9b1f5d-832a-49c7-ba96-f9e240a4dbcf">263</ix:nonFraction> million and <ix:nonFraction unitRef="eur" contextRef="i788a18873ca04dfe9a03df15c0a9cb60_D20200101-20201231" decimals="-6" name="tef:PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE2NjQ1_c49cabc4-c607-4261-99bd-d3172a2daaf6">335</ix:nonFraction> million euros in 2021 and 2020, respectively), was recorded as &#8220;Retained earnings&#8221; in the consolidated statements of changes in equity.  In 2022 and 2021, the payments related to the undated deeply subordinated securities include the premium of the tender offers carried out in these periods amounting to -<ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" sign="-" name="tef:PremiumofTenderOfferofEquityInstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE2OTQx_70526650-a882-4ffd-a0af-855b41f15570">1</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:PremiumofTenderOfferofEquityInstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE2OTU0_4bb8683b-88f7-4058-a956-be8f079571c1">61</ix:nonFraction> million euros, respectively. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d) Legal reserve</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to the consolidated text of the Spanish Corporate Enterprises Act, companies must transfer <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:LegalReserveRequiredPercentageOfProfits" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE3MDk3_207a3d21-029a-4fd6-bbe9-ae4f527160b4">10</ix:nonFraction>% of profit for the year to a legal reserve until this reserve reaches at least <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:LegalReserveMinimumPercentageOfShareCapital" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE3MTc4_0023bcaa-b799-4de9-b705-6b99032abfe4">20</ix:nonFraction>% of share capital. The legal reserve can be used to increase capital by the amount exceeding <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE3Mjcz_4c35e160-715c-4823-bc37-07eed7bbf6a3">10</ix:nonFraction>% of the increased share capital amount. Except for this purpose, until the legal reserve exceeds the limit of <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:LegalReserveMinimumPercentageOfShareCapital" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE3Mzg1_6c96cc5d-c083-457e-9254-b004da02d536">20</ix:nonFraction>% of share capital, it can only be used to offset losses, if there are no other reserves available. At of December 31, 2022 the legal reserve amounts to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:StatutoryReserve" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE3NTM5_9b361aeb-6629-4f7d-a931-a9dfe2fca18d">1,059</ix:nonFraction> million euros representing <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="4" name="tef:LegalReservePercentageOfShareCapital" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE3NTY5_fa94e98f-991c-4006-9c46-bb01fd0c9434">18.34</ix:nonFraction>% of the share capital at the date.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e) Retained earnings</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These reserves also include revaluation reserves and the reserve for canceled share capital. These reserves are regulated by some restrictions for their distribution. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revaluation reserves</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE4Njg2_ba11d668-8ffd-4b71-a197-41de89679f44">4</ix:nonFraction> million euros were reclassified to &#8220;Retained earnings&#8221; in 2022 (<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE4NzQz_bb56d19a-7474-430d-9ef1-4f8c0de7bef9">4</ix:nonFraction> million euros in 2021) corresponding to revaluation reserves subsequently considered to be unrestricted. At December&#160;31, 2022, this reserve amounted to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:RevaluationSurplus" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE4ODcz_1548dd24-5f65-4baf-b8d3-0405d5fe84dc">54</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:RevaluationSurplus" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE4ODgz_d4ae54da-f83c-45c4-9aba-bd5fb190d7bf">58</ix:nonFraction> million euros at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reserve for canceled share capital</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 2022 was recorded in this account <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CapitalRedemptionReserveRecorded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE5NDE5_32deff0c-891d-4479-b3d0-85c98e3c57ae">139</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CapitalRedemptionReserveRecorded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzExODc_7d4050d0-69fc-4e2d-88da-6444941e095b">83</ix:nonFraction> million euros in 2021). The cumulative amount as of December 31, 2022 is <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CapitalRedemptionReserve" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE5NTMz_9bba9072-9dc7-4eed-a795-be3623ccc5f1">954</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">f) Translation differences</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfTranslationDifferencesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1Mjk2_e75edc4c-5086-4c9b-8fc1-d914ed13e2ec" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the accumulated contribution of translation differences attributable to equity holders of the parent at December 31 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i111c26510dfa4e11b868d6ac0c29d59f_I20221231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzEtMS0xLTEtNTEwNDQy_eb23cc4b-3470-4a2f-ad28-40c500551487">14,031</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i59b47a9212784f12b23e4e8caf06de04_I20211231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzEtMi0xLTEtNTEwNDQy_157bce3e-ab07-49bd-90d2-ccacce2d96ab">15,292</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifbb833c580f04598888f8e7f55b45ec1_I20201231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzEtMy0xLTEtNTEwNDQy_7e6dd851-6376-408f-b060-27da55f9b9d2">15,365</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iaf6cb300f7a0460a801701844e121241_I20221231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzItMS0xLTEtNTEwNDQy_6b2e99a1-9c35-4865-9222-7a7b78ca5729">322</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i651ad19e3f554ce2b8a040e000a09433_I20211231" decimals="-6" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzItMi0xLTEtNTEwNDQy_d2acf5e5-ce9f-4cc1-9497-c04808fe54af">309</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie8798b2a96e046d4b3e9a5aa6652e309_I20201231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzItMy0xLTEtNTEwNDQy_4ad40296-90d0-418e-847e-db2d80ecf702">3,344</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Venezuelan bolivar</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8e3788cbebf442b8bd1c552ccbe59612_I20221231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzMtMS0xLTEtNTEwNDQy_0e1d2065-48e0-40b4-9630-077f9ed092c0">3,734</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibbeb89865818499cb94b35255576ff9a_I20211231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzMtMi0xLTEtNTEwNDQy_736a1d7b-b590-4bbc-92ed-1f84923ffda9">3,755</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2cb7928aee0e402699e1b7f512645a74_I20201231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzMtMy0xLTEtNTEwNDQy_3d545096-f77c-4d9d-81a2-adf61411d2c3">3,754</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentine peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9814279b20be42029590dcee2898df7c_I20221231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzQtMS0xLTEtNTEwNDQy_b1063614-8139-4a05-83f7-3e557923ba93">1,364</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5966993fd4644c95af140118bab8429b_I20211231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzQtMi0xLTEtNTEwNDQy_7cefa8f3-5463-4548-b59f-1abea80112ad">1,702</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if9d4149ac9f649cb9e5fc0eb8a30fab4_I20201231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzQtMy0xLTEtNTEwNDQy_0f417ab6-5c6f-4313-8c0f-ea119569b9f5">2,178</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i174546787d2a472fbf34467f955e4baf_I20221231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzUtMS0xLTEtNTEwNDQy_597d541f-e5c5-49e5-abb7-030ea0528842">1,272</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8a82792d1e6f47538b0071dea6326137_I20211231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzUtMi0xLTEtNTEwNDQy_4c1bd294-aece-4e19-81be-d4a012d618b2">1,452</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4d791efa25204e71a3f9e8bc0a0650bd_I20201231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzUtMy0xLTEtNTEwNDQy_998a2405-5edb-4d07-9b42-e09ae38ea17b">1,339</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzYtMS0xLTEtNTEwNDQy_39eea22d-fc44-4f79-8db0-de12c41e90be">20,723</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzYtMi0xLTEtNTEwNDQy_95c1e2d9-b602-41ba-9941-5b74c8b3b18a">21,892</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" sign="-" name="ifrs-full:ReserveOfExchangeDifferencesOnTranslation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzYtMy0xLTEtNTEwNDQy_576db5b1-131d-4698-b18e-0f80ef154ce3">25,980</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-73</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i5b416116c1ba4c6882a30dfbb2f2dfe7" continuedAt="i63a1312450ff4cdaad33b707719e1c3b"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The negative translation differences of Telef&#243;nica United Kingdom accumulated in equity at June 1, 2021 were reclassified to the 2021 income statement as a result of the establishment of VMED O2 UK Ltd (see Note 2), for an amount of <ix:nonFraction unitRef="eur" contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601" decimals="-6" name="ifrs-full:ForeignExchangeLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE5OTYz_9727b438-35de-4202-9b92-1b2eac496518">3,135</ix:nonFraction> million euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Likewise, the negative translation differences associated with the sale of the Telxius Group tower divisions and Telef&#243;nica de Costa Rica were also reclassified to the income statement for the amount of <ix:nonFraction unitRef="eur" contextRef="i78fe8fdc99b6417ab71ac8fef8e69cff_D20220101-20221231" decimals="-6" name="ifrs-full:ForeignExchangeLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIwMTkw_6c98cf8f-666b-489f-9e99-856044ac3a41">37</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="ibb7dfa1063f24d6d9b3895f0a98689b3_D20220101-20221231" decimals="-6" name="ifrs-full:ForeignExchangeLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIwMTk3_abeef91d-3312-480a-b07e-3c6c3df7c823">21</ix:nonFraction> million euros, respectively.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">g) Treasury share instruments</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:TreasuryShareInstrumentsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MzI1_408b90e2-95c8-41ca-92b0-d3793ea9627f" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. held the following treasury shares at December&#160;31, 2022, 2021 and 2020: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:34.478%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.516%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.784%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.786%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros per share</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition price</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading price</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Market value </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/22</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="id1e0308864644bfe9c06ffdc3fad0523_I20221231" decimals="INF" name="ifrs-full:NumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItMS0xLTEtNTEwNDQy_1528fd88-8194-4493-9fa5-d904c73eb9e2">85,217,621</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:TreasuryShareAcquisitionPrice" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItMi0xLTEtNTEwNDQy_5df9b618-31c8-4864-ae60-e8c72f55c5f2">4.00</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:TreasurySharesMarketValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItNC0xLTEtNTEwNDQy_6994d6ef-687c-44cd-a389-a7f072315b14">288</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="tef:TreasurySharesAsAPercentofTotalShares" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItNS0xLTEtNTEwNDQy_bc0dda58-9256-4875-8b7c-614c0c171957">1.476</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="2" name="tef:TreasuryShareTradingPrice" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzMtMy0xLTEtNTEwNDQy_1b795677-14c1-4460-ba2d-9c3b75e82c56">3.85</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:TreasurySharesMarketValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzMtNC0xLTEtNTEwNDQy_5c11f227-74a1-4c4d-bfee-4bb1c6912a56">537</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="INF" name="tef:TreasurySharesAsAPercentofTotalShares" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzMtNS0xLTEtNTEwNDQy_0a8aa433-6162-4eb6-9227-43244955994d">2.411</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/20</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 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style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Millions of euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following transactions involving treasury shares were carried out in 2022, 2021 and 2020:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:76.791%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.009%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/19</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="shares" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i4a239a56adbc4c9b878605dd8c3f38ec_D20200101-20201231" decimals="INF" name="tef:CommonSharesAcquired" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzItMS0xLTEtNTEwNDQy_ba93b772-4036-43a3-ab11-51b33e2b2715">68,640,303</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i4a239a56adbc4c9b878605dd8c3f38ec_D20200101-20201231" decimals="INF" name="tef:TreasurySharesScripDividend" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzMtMS0xLTEtNzAzOTc0_cde92fb1-c41a-4885-8679-19b0957cde31">6,252,817</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i2e049cfadb9e4d57ab74155ec161599f_D20210101-20211231" decimals="INF" name="tef:CommonSharesAcquired" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzUtMS0xLTEtNTEwNDQy_a8ef99e1-a58f-459e-9002-2dc89c32060c">122,032,764</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="i2e049cfadb9e4d57ab74155ec161599f_D20210101-20211231" decimals="INF" sign="-" name="tef:IncreaseDecreaseInSharesOutstandingFromCapitalIncreaseReduction" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzgtMS0xLTEtNTEwNDQy_d52afc53-ec3f-46d9-aeb3-c99e2ed1d48f">82,896,466</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i32c1dc04b63f4dc1ab9dc0321bb51f1b_I20211231" decimals="INF" name="ifrs-full:NumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzktMS0xLTEtNTEwNDQy_dfa8ea1c-a889-420c-87dc-b4eacfcc68f0">139,329,370</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i260b75fbc73c4e4cbbbafd8cf0d2d6fe_D20220101-20221231" decimals="INF" name="tef:TreasurySharesScripDividend" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzExLTEtMS0xLTUxMDQ0Mg_99a32773-c809-46d7-b840-4fa56e40aa8a">563,415</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="i260b75fbc73c4e4cbbbafd8cf0d2d6fe_D20220101-20221231" decimals="INF" name="tef:NumberOfShareAwardsInShareBasedPaymentArrangements" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzEyLTEtMS0xLTUxMDQ0Mg_4fdeaf48-5357-4a24-83a0-30b091775f1a">5,391,956</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="shares" contextRef="i260b75fbc73c4e4cbbbafd8cf0d2d6fe_D20220101-20221231" decimals="INF" sign="-" name="tef:IncreaseDecreaseInSharesOutstandingFromCapitalIncreaseReduction" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzE1LTEtMS0xLTc1NzgwMQ_fc2a4613-e411-4cf2-b90c-a02af75c7447">139,275,057</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sales</span></td><td colspan="2" style="border-top:1pt solid 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/22</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="id1e0308864644bfe9c06ffdc3fad0523_I20221231" decimals="INF" name="ifrs-full:NumberOfSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzE0LTEtMS0xLTUxMDQ0Mg_9bb9939e-b323-4cc8-9528-4d10c0b2ba43">85,217,621</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were treasury shares purchases in 2022 amounting to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" 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name="ifrs-full:PurchaseOfTreasuryShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyMzMw_a9aac7f0-b692-49f3-8ed4-8d7b0cb976e1">234</ix:nonFraction> million euros in 2021 and 2020, respectively)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 28, 2020, Telef&#243;nica de Contenidos, S.A.U. (currently Telef&#243;nica Espa&#241;a Filiales, S.A.) acquired <ix:nonFraction unitRef="number" contextRef="id623bfca157b445188c35adce12f6e2d_I20200228" decimals="2" name="tef:ProportionOfOwnershipInterestInEquityMethodInvestment" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyNDQz_e7475517-c847-410e-a4c3-ecabe510d8b4">50</ix:nonFraction>% of the capital stock of Prosegur Alarmas, S.L. with an in-kind delivery of <ix:nonFraction unitRef="shares" contextRef="i7385bfac464e4d89a0f89c96a1717011_D20200228-20200228" decimals="INF" name="tef:NumberOfSharesIssuedForEquityMethodInvestment" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyNTIx_6b8fd25b-f5d2-4069-9dc1-4ef3132e9049">49,545,262</ix:nonFraction> Telef&#243;nica shares, previously acquired to the Company, equivalent to <ix:nonFraction unitRef="eur" contextRef="id623bfca157b445188c35adce12f6e2d_I20200228" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyNTkz_9bf2dfa2-c693-4f4e-8791-0068d68231c6">266</ix:nonFraction> million euros as of the quotation on the delivery date included in "other movements".</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2022, the third cycle of the Telef&#243;nica, S.A long-term incentive plan called "Performance Share Plan 2018-2022" and "Talent for the Future Share Plan 2018-2022" (see Note 27) ended.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also has different derivative instruments, to be settled by offset, on a nominal value equivalent to <ix:nonFraction unitRef="shares" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:DerivativeFinancialInstrumentSharesEquivalent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIzMDcx_e39790e6-513b-4d31-9ae2-2f6a7c85c516">193</ix:nonFraction> million of Telef&#243;nica shares recorded in the statement of financial position at December 31, 2022 in accordance with their maturity date and fair value (<ix:nonFraction unitRef="shares" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:DerivativeFinancialInstrumentSharesEquivalent" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzM3MDA_e1b392d9-beeb-4ea7-9136-5e2d1aa704a0">192</ix:nonFraction> million euros at December 31, 2021). </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-74</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i63a1312450ff4cdaad33b707719e1c3b" continuedAt="i49da97e7db5747b888a94b9b8d1116c9"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">h) Equity attributable to non-controlling interests</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfEquityAttributableToNoncontrollingInterestTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MjM2_7688e63d-a515-4556-8c64-434162d71886" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Equity attributable to non-controlling interests&#8221; 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:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:20.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.837%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span id="i9f2959ad79be455a9c5930d238bb2be3_0-4-1-1-510442"></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Profit/(loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in translation differences</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/22</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e5b5573427343d3841ef41f26b0741a_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzYtMi0xLTEtNTEwNDQy_fe8904e0-4b56-41e5-99bb-db807337a1ed">23</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e5b5573427343d3841ef41f26b0741a_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzYtMy0xLTEtNTEwNDQy_b9a096aa-5a70-42fa-a0a0-c46ba72ecac5">44</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e5b5573427343d3841ef41f26b0741a_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzYtNC0xLTEtNTEwNDQy_7eea554b-9215-426a-94f6-759b7cb93db6">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e5b5573427343d3841ef41f26b0741a_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzYtNS0xLTEtNTEwNDQy_263170e3-db0c-4e25-b786-2b9d8ba767b8">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e5b5573427343d3841ef41f26b0741a_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzYtNi0xLTEtNTEwNDQy_aa8750c2-274b-4515-8515-d251e80a7a54">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e5b5573427343d3841ef41f26b0741a_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzYtNy0xLTEtNTEwNDQy_8f1bc950-fbff-44dc-a525-90939ae57cca">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8190fc0b84354358a8c24215d33bd885_I20221231" decimals="-6" name="ifrs-full:NoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzYtOC0xLTEtNTEwNDQy_552c8427-6284-4b5d-b2ce-4433916bee3f">41</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia44fd88bd0a043a88d5d7a1fae764ae4_I20211231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctMS0xLTEtNTEwNDQy_2bb7f525-b267-485c-bcbe-fe8f45365c0f">6,477</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie593df7371c5471696fb0ba450c50f56_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctMi0xLTEtNTEwNDQy_84e0aab6-50c9-4ea8-a56e-5d2590b4aa1f">23</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie593df7371c5471696fb0ba450c50f56_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctMy0xLTEtNTEwNDQy_fceb6e48-32d4-4116-bfba-e0b4cacfe189">178</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie593df7371c5471696fb0ba450c50f56_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctNC0xLTEtNTEwNDQy_05bf9189-6ac8-4295-9935-0b772fbb4ef6">411</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie593df7371c5471696fb0ba450c50f56_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctNS0xLTEtNTEwNDQy_0121def5-daf2-4c3d-ab27-c868fb1a3b90">308</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie593df7371c5471696fb0ba450c50f56_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctNi0xLTEtNTEwNDQy_a2f1b74b-cf14-453f-9a82-ce6ba5118e4f">393</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie593df7371c5471696fb0ba450c50f56_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctNy0xLTEtNTEwNDQy_5c178d4b-c6f3-44f1-b698-4f96d0216181">8</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i255aa08d9b124e5e93de83cc20fef530_I20221231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo5ZjI5NTlhZDc5YmU0NTVhOWM1OTMwZDIzOGJiMmJlMy90YWJsZXJhbmdlOjlmMjk1OWFkNzliZTQ1NWE5YzU5MzBkMjM4YmIyYmUzXzctOC0xLTEtNTEwNDQy_1097cc82-2ec2-45ed-8058-d1159e085b99">6,620</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:20.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7f0b7a3d8cbd4ed4a9fc5b6d4e7117cb_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzUtMy0xLTEtNTEwNDQy_fe34388c-6b7e-4b5f-80dd-6e8ea1dc6fa5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7f0b7a3d8cbd4ed4a9fc5b6d4e7117cb_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidToNoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzUtNC0xLTEtNTEwNDQy_ede49ded-add0-47cf-8e15-43793fc0c0c8">2,645</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7f0b7a3d8cbd4ed4a9fc5b6d4e7117cb_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzUtNS0xLTEtNTEwNDQy_37c25ab0-b900-4024-87bf-69caba9fa7fe">2,098</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7f0b7a3d8cbd4ed4a9fc5b6d4e7117cb_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzUtNi0xLTEtNTEwNDQy_fad09816-24f1-4d19-b0fb-73a08840ec93">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7f0b7a3d8cbd4ed4a9fc5b6d4e7117cb_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzUtNy0xLTEtNTEwNDQy_300e4895-5585-46e6-b11a-4f583ad15266">12</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4e8917e5af904c019c764e1b3c5e57ce_I20211231" decimals="-6" name="ifrs-full:NoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzUtOC0xLTEtNTEwNDQy_a9cd05b7-79d7-4f36-a825-fe8b4b760dab">546</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic4df20f472364089a473853762681ea4_I20201231" decimals="-6" name="ifrs-full:NoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtMS0xLTEtNTEwNDQy_8f2d58fd-947b-40ed-890c-89daa7311abc">76</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaf92e2593f414beeb6f4e9279cc66710_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtMi0xLTEtNTEwNDQy_6a7c8a75-9ba0-406d-9b9b-388397a48074">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaf92e2593f414beeb6f4e9279cc66710_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtMy0xLTEtNTEwNDQy_eb257059-bd60-4006-9ee5-be65a3e580b5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iaf92e2593f414beeb6f4e9279cc66710_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtNC0xLTEtNTEwNDQy_00663439-86ef-4f22-bd95-a5ee0ccd722a">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iaf92e2593f414beeb6f4e9279cc66710_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtNS0xLTEtNTEwNDQy_1c5e47ef-641b-49c6-8e5d-4e5dc3106c5a">14</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaf92e2593f414beeb6f4e9279cc66710_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtNi0xLTEtNTEwNDQy_0b0e7aef-7a5b-4903-b2fa-a4e0708c343c">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaf92e2593f414beeb6f4e9279cc66710_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtNy0xLTEtNTEwNDQy_9115bf39-2375-4a96-b3d6-e4c76c6fd5b9">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibdc85e63fc5345c6983c184f8b05e630_I20211231" decimals="-6" name="ifrs-full:NoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzYtOC0xLTEtNTEwNDQy_485c7159-0ecd-48b7-be35-fb96c445ea76">63</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccc2471e94934288a17d06f1c13668ec_I20201231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctMS0xLTEtNTEwNDQy_e4fb8dea-84d9-45b5-a840-cfa35086f644">7,025</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf3905b420914dca82a4ae32ce08997f_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctMi0xLTEtNTEwNDQy_39483185-5cc9-4444-aacf-12996dcbf272">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf3905b420914dca82a4ae32ce08997f_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctMy0xLTEtNTEwNDQy_875eff6a-9074-4ade-a318-921852929efb">119</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icf3905b420914dca82a4ae32ce08997f_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidToNoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctNC0xLTEtNTEwNDQy_1c9e59a9-0baa-4e89-a0d9-4de3c4be36e2">3,051</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf3905b420914dca82a4ae32ce08997f_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctNS0xLTEtNTEwNDQy_2d5e8646-7f01-4d01-891c-15c995f3ebd2">2,580</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf3905b420914dca82a4ae32ce08997f_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctNi0xLTEtNTEwNDQy_834f983f-1aa0-4a05-bd46-37c958a5d0b2">10</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf3905b420914dca82a4ae32ce08997f_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctNy0xLTEtNTEwNDQy_51fbef3d-7719-45d6-b9ed-acf579deaaa5">32</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia44fd88bd0a043a88d5d7a1fae764ae4_I20211231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjNTYwN2Y4ODE5Mjk0Nzk5OWM1NmUyZDMyOGIwM2QxZC90YWJsZXJhbmdlOmM1NjA3Zjg4MTkyOTQ3OTk5YzU2ZTJkMzI4YjAzZDFkXzctOC0xLTEtNTEwNDQy_bb8590d2-8c12-4c8b-807c-0d0c542b5591">6,477</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:20.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.837%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/19</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i63ddf816bdda4fbc8bde1ad010d564fa_I20191231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzUtOC0xLTEtNTEwNDQy_66800769-462a-42aa-8a62-33dca57a827f">1,089</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9a75f70017744650bbdb9f814a93d37f_I20191231" decimals="-6" name="ifrs-full:NoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtMS0xLTEtNTEwNDQy_670e7620-eab5-4462-846c-b614d24be242">139</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i943646f21972417cbdecd739e2523908_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtMi0xLTEtNTEwNDQy_ddb1d073-6d8c-4cf1-a865-44aff33d107f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i943646f21972417cbdecd739e2523908_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtMy0xLTEtNTEwNDQy_83414a93-3719-476b-a7c9-b4454f057dc4">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i943646f21972417cbdecd739e2523908_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtNC0xLTEtNTEwNDQy_690730f3-2cfd-483e-b99c-d44d16ae23f7">44</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i943646f21972417cbdecd739e2523908_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtNS0xLTEtNTEwNDQy_18034db9-06fd-4205-93a1-a749d50c3e36">10</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i943646f21972417cbdecd739e2523908_D20200101-20201231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtNi0xLTEtNTEwNDQy_86b9342f-1540-4b99-94a0-0e340fdbe041">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i943646f21972417cbdecd739e2523908_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtNy0xLTEtNTEwNDQy_b3a0ebcf-45f0-4a7a-850c-49e7f1954888">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic4df20f472364089a473853762681ea4_I20201231" decimals="-6" name="ifrs-full:NoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzYtOC0xLTEtNTEwNDQy_715945cd-0463-41d7-93c9-097891fffbe0">76</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5ea38f1e92da49f7b686a21fc8bea630_I20191231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctMS0xLTEtNTEwNDQy_7c3bad77-7ede-42f0-858b-4708dfacced9">8,332</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieb6a6f1b7bf44bfc9e6ce4c5483a7408_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctMi0xLTEtNTEwNDQy_21c772ab-8620-457b-acd2-4e71d1a9aced">321</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ieb6a6f1b7bf44bfc9e6ce4c5483a7408_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctMy0xLTEtNTEwNDQy_c3113dbd-23d6-4d96-affb-649913ad037a">3</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ieb6a6f1b7bf44bfc9e6ce4c5483a7408_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctNC0xLTEtNTEwNDQy_5469981f-e848-4215-9fb0-38f228f09de2">516</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieb6a6f1b7bf44bfc9e6ce4c5483a7408_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossAttributableToNoncontrollingInterests" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctNS0xLTEtNTEwNDQy_8b46961e-205e-4850-9694-eedf3e24f763">375</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ieb6a6f1b7bf44bfc9e6ce4c5483a7408_D20200101-20201231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctNi0xLTEtNTEwNDQy_af1fe6e7-35ad-4cd6-8859-c5885e9a4989">1,435</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ieb6a6f1b7bf44bfc9e6ce4c5483a7408_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctNy0xLTEtNTEwNDQy_c9f409ba-98b4-4f5d-9a9e-55b589fe04f3">49</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccc2471e94934288a17d06f1c13668ec_I20201231" decimals="-6" name="ifrs-full:NoncontrollingInterests" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkOGY1ZWU0Mzk2OTg0YmIxOWNiZmI0Mzc1YzI4Zjc4OC90YWJsZXJhbmdlOmQ4ZjVlZTQzOTY5ODRiYjE5Y2JmYjQzNzVjMjhmNzg4XzctOC0xLTEtNTEwNDQy_e47b68d6-53eb-4093-a693-8a85a886a5bd">7,025</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, "sales of non-controlling interest and inclusion of companies" reflected the impact of the acquisition by the consortion form by CAA and Vauban of <ix:nonFraction unitRef="number" contextRef="i621c7354ff5946f882cba2b456eae0c6_D20221220-20221220" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2ODMwOTU_4fb816cf-2c05-4d21-a9d9-a557232c6326">45</ix:nonFraction>% of the company Bluevia for <ix:nonFraction unitRef="eur" contextRef="i66cf5bb9d4ee4c28b9ed07d7c751c446_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE4NjkxNjk3NzI2MzMw_4f9e7331-ae98-4969-8ca7-982849acc8a3">23</ix:nonFraction> million euros (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 noteworthy is the result attributable to minority shareholders of Telxius from the sale of its telecommunications towers division (see Note 2) and the dividend distribution related with this transaction (Note 28).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020, "Sales of non-controlling interests and inclusion of companies" reflected the capital increase of Telxius amounting to <ix:nonFraction unitRef="eur" contextRef="ibac17d6eefc145eb9e6b0458b067f989_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI0MTU4_d37e2012-4742-46b5-b26d-1a331b3b5f4f">645</ix:nonFraction> million euros, of which <ix:nonFraction unitRef="eur" contextRef="id1974bc37d2841b6856a60b47a2d2ca6_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughDisposalOfSubsidiary" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI0MTg1_0f7e6775-a032-46e8-bd16-778b7801aa18">323</ix:nonFraction> 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 <ix:nonFraction unitRef="eur" contextRef="ic4c7050ad29544269031e76c73cbdd1e_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseInDeferredTaxLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI0NDI5_c03d3f44-9df5-4504-bb8f-8266222ccd90">184</ix:nonFraction> million euros.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-75</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i49da97e7db5747b888a94b9b8d1116c9" continuedAt="i7bef3d2f41a74ba1bd988f7f81519e80"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="srt:ScheduleOfCondensedFinancialStatementsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MTg5_9b2bb918-a08d-4480-b5c4-a93ba1a5bb52" escape="true"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group with non-controlling interests, namely Telef&#243;nica Brazil and Telef&#243;nica Germany. The detail of these figures for Colombia Telecomunicaciones and Telxius Telecom is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:62.589%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.639%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i918615c2851f48098d865f68500ea8af_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzItMS0xLTEtNTEwNDQy_f8974a51-63d5-47f9-8007-f474bc57ed88">1,517</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccc51089118c4613babdb19ab27b0f34_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzItMi0xLTEtNTEwNDQy_1b407ab3-188d-4060-a3a3-95a011680200">1,312</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzItMy0xLTEtNTEwNDQy_dce29962-8663-40d8-b9c4-8f9afe0ee051">1,249</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i918615c2851f48098d865f68500ea8af_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzMtMS0xLTEtNTEwNDQy_daee6f26-9e3f-4c02-b388-9aaccf6d477f">569</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccc51089118c4613babdb19ab27b0f34_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzMtMi0xLTEtNTEwNDQy_e6879ec6-a7e9-4da0-9c28-53f51f6da2c3">413</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueAndOperatingIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzMtMy0xLTEtNTEwNDQy_8593a816-b376-4a7c-8a17-07e80efc92e6">438</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzQtMy0xLTEtNTEwNDQy_68d11cb3-0848-4abc-8851-d1aa75721fc1">325</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossFromOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzUtMy0xLTEtNTEwNDQy_421a7a22-6d7c-4880-b9f9-770839d9b237">113</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsForDevelopmentProjectExpenditure" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzYtMy0xLTEtNTEwNDQy_317c0c84-3931-457e-96f9-d2feb7ba02ec">156</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0194c4260aa84a34a6de9c60e70fd2ed_I20221231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzctMS0xLTEtNTEwNDQy_84807d49-4974-4ddf-8982-45e1df5744cb">1,116</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i861c8e1439ae42378460169f93cfa466_I20201231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzctMy0xLTEtNTEwNDQy_31b25efb-f589-427c-b2a8-28bc741f378b">1,530</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0194c4260aa84a34a6de9c60e70fd2ed_I20221231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzgtMS0xLTEtNTEwNDQy_09ead5a4-bf70-40fa-b182-5fc42f6af304">2,696</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i801603c2a36f448c86c906cc8ecd0f31_I20211231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzgtMi0xLTEtNTEwNDQy_1277c405-c028-4a19-9379-f174b18bbe33">2,725</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i861c8e1439ae42378460169f93cfa466_I20201231" decimals="-6" name="ifrs-full:Assets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzgtMy0xLTEtNTEwNDQy_b6dbdd43-e0f8-4e6a-a694-380cb275a5db">2,864</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0194c4260aa84a34a6de9c60e70fd2ed_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzktMS0xLTEtNTEwNDQy_9289d5d6-98da-406b-b645-7df3dee840cc">2,001</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid 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2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i861c8e1439ae42378460169f93cfa466_I20201231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzktMy0xLTEtNTEwNDQy_5432a121-b87a-4681-89db-fccc884717aa">2,049</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.619%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.620%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzItMS0xLTEtNTEwNDQy_dc68ef6d-0437-4328-acc7-f678956a0cb5">421</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i698baf095ba845cea153803e87ea3151_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzItMi0xLTEtNTEwNDQy_5bc0d17c-34a9-489e-8890-4ee831889db0">587</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i07262588ba2f48f3afb2f00127e15c91_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzItMy0xLTEtNTEwNDQy_fe585e32-efcb-4dee-a058-2020e71aca28">826</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzctMy0xLTEtNTEwNDQy_729ec006-1fa0-4e9c-b789-e093e22e784a">452</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzgtMy0xLTEtNTEwNDQy_a9d41149-e1b8-4125-8099-6d156d98de50">2,840</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2bcd09e0e7d44a558e43fba253de51d3_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzktMS0xLTEtNTEwNDQy_478383ea-4648-4f47-9031-413ecbef199f">1,163</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i505bf2b9aed344a08456a9bdb19b0222_I20211231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzktMi0xLTEtNTEwNDQy_5149a64b-ca73-4259-92e1-19422501f63c">1,225</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifd5be62b733b4e5a99693caf36f7cfce_I20201231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphNmFhNjA4YTQzNGY0NzU1OWMxM2I3YmM2ODcyNWYwMi90YWJsZXJhbmdlOmE2YWE2MDhhNDM0ZjQ3NTU5YzEzYjdiYzY4NzI1ZjAyXzktMy0xLTEtNTEwNDQy_1fbfa994-00c2-4b85-99fb-30a7f8b3aa21">2,785</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureofSubsidiariesCashFlowTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1Mzg4_6d6002a9-0018-407d-a9f3-af442f1162f4" continuedAt="iec28858ecbea47f9beb10ce4957586f4" escape="true"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The statements of cash flows of these companies are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:62.589%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.639%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzItMS0xLTEtNTEwNDQy_2950d869-11f0-4a03-934d-04ccccd3eda0">3,678</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib097b368d74f44e5a6e76b55decb560e_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzItMi0xLTEtNTEwNDQy_ba1e81c3-f8a2-4bf4-9242-9a40d2eab9f3">2,949</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i55bc32a4b07c4110a566b43f45098b64_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzItMy0xLTEtNTEwNDQy_4b1beac1-3c2f-499f-ab74-343f457ecd95">3,517</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i29217a2edd16425aa66b5d6ea6c5ad8b_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzMtMS0xLTEtNTEwNDQy_2fa0780f-ae7f-4977-b098-5fd93fdb7603">2,741</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib097b368d74f44e5a6e76b55decb560e_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzMtMi0xLTEtNTEwNDQy_37c7011c-8f19-4251-b057-dca5d86e88ad">1,295</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i55bc32a4b07c4110a566b43f45098b64_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzMtMy0xLTEtNTEwNDQy_ca43e2d9-5042-4e36-a5bb-738b342ff093">1,238</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i29217a2edd16425aa66b5d6ea6c5ad8b_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzQtMS0xLTEtNTEwNDQy_9a1e981a-1b83-4c73-82cb-3bd682a164e3">1,674</ix:nonFraction>)</span></td><td style="border-top:1pt 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i55bc32a4b07c4110a566b43f45098b64_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzQtMy0xLTEtNTEwNDQy_9ecff704-3039-4ba8-b317-7fe95096dfa3">1,817</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i29217a2edd16425aa66b5d6ea6c5ad8b_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzUtMS0xLTEtNTEwNDQy_31ba1493-0a8f-4ccf-a58a-520ba4b52fcf">737</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib097b368d74f44e5a6e76b55decb560e_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzUtMi0xLTEtNTEwNDQy_cc57a393-9de1-468b-adc4-104546eb849b">187</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i55bc32a4b07c4110a566b43f45098b64_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzUtMy0xLTEtNTEwNDQy_706793dc-a843-4200-8706-e2f61cbff586">462</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:62.589%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.639%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzItMS0xLTEtNTEwNDQy_7fad569a-1962-4a78-a144-7a642fbd6bde">2,732</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8db44f2e88f47bcae0873d1233bd9d4_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzItMi0xLTEtNTEwNDQy_72a8725f-4b27-4e13-aac4-7ec18aff5d0a">2,407</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea58d239c6354224a20835580fd3ccf5_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzItMy0xLTEtNTEwNDQy_8d1f2d47-a43a-4c57-9123-060a7fd722f9">2,386</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifbcac9542437491cb3e499fbd4b5fa4b_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzMtMS0xLTEtNTEwNDQy_3da01b3b-acf1-4ce5-a1cc-a232c675f136">1,608</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic8db44f2e88f47bcae0873d1233bd9d4_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzMtMi0xLTEtNTEwNDQy_06e4d248-a82c-4bd2-9eb3-7bba4db24c2d">875</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iea58d239c6354224a20835580fd3ccf5_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzMtMy0xLTEtNTEwNDQy_d7da3dbb-1f85-48d4-8472-3451c1936293">459</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifbcac9542437491cb3e499fbd4b5fa4b_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzQtMS0xLTEtNTEwNDQy_f327a9de-7937-41ea-8077-a869a26800e6">1,339</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic8db44f2e88f47bcae0873d1233bd9d4_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzQtMi0xLTEtNTEwNDQy_9314b997-8c28-4b59-9c9c-f814b73afaa3">1,820</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifbcac9542437491cb3e499fbd4b5fa4b_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzUtMS0xLTEtNTEwNDQy_f7b8ae15-5657-4d56-98cf-439fdbce6e9d">215</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic8db44f2e88f47bcae0873d1233bd9d4_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjMjA1ZDI0NDJkOWE0ZTU5YmYyM2RlMjYxY2IwNjljYi90YWJsZXJhbmdlOmMyMDVkMjQ0MmQ5YTRlNTliZjIzZGUyNjFjYjA2OWNiXzUtMi0xLTEtNTEwNDQy_008ed2b6-3f4e-4d14-99d8-d3d5d9125f51">288</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:62.589%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.639%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i918615c2851f48098d865f68500ea8af_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzItMS0xLTEtNTEwNDQy_ab84add3-0d72-4190-8b48-befff50933ea">180</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccc51089118c4613babdb19ab27b0f34_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzItMi0xLTEtNTEwNDQy_45661547-ac91-4d6b-a9fe-1b0191474d84">344</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzItMy0xLTEtNTEwNDQy_b99df45f-a99a-404b-aaf9-739caef560b8">276</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i918615c2851f48098d865f68500ea8af_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzMtMS0xLTEtNTEwNDQy_19442510-ab61-4ee2-a04c-11efd84e68ec">30</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iccc51089118c4613babdb19ab27b0f34_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzMtMi0xLTEtNTEwNDQy_605ff515-b9f3-4ac8-bbe8-fcd9c2e932b3">153</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzMtMy0xLTEtNTEwNDQy_7a29a0ed-030c-4c18-97fd-928d25c93ec0">189</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i918615c2851f48098d865f68500ea8af_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzQtMS0xLTEtNTEwNDQy_45befa6b-e566-49c8-b9a4-ecb649c78052">225</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iccc51089118c4613babdb19ab27b0f34_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzQtMi0xLTEtNTEwNDQy_07e7ca17-984f-4ed7-aa30-11cc49a51b87">218</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzQtMy0xLTEtNTEwNDQy_0305801b-015e-492a-9df6-848a8224d4df">42</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i918615c2851f48098d865f68500ea8af_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzUtMS0xLTEtNTEwNDQy_2e22214c-a1ea-4715-8f57-218acc844a6b">15</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iccc51089118c4613babdb19ab27b0f34_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzUtMi0xLTEtNTEwNDQy_4c1b4271-a245-4f7d-b00e-4327bc756cec">27</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fc4b9501a9d4fb3a250cdf3ac687b60_D20200101-20201231" decimals="-6" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3MDY3ZTM3YzNmZWQ0M2QxOTM2OTQ4OTAwMTcxNzlkOC90YWJsZXJhbmdlOjcwNjdlMzdjM2ZlZDQzZDE5MzY5NDg5MDAxNzE3OWQ4XzUtMy0xLTEtNTEwNDQy_6f2817c7-d5bd-454c-b193-12657ca08da0">45</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-76</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="text-align:justify"><ix:continuation id="i7bef3d2f41a74ba1bd988f7f81519e80"><ix:continuation id="iec28858ecbea47f9beb10ce4957586f4"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:62.589%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.613%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.639%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib505dcfa6cee4cf48118cce1ca4d8490_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzItMS0xLTEtNTEwNDQy_0cc9ac8e-225c-4b98-9131-80fc7742885a">152</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i698baf095ba845cea153803e87ea3151_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzItMi0xLTEtNTEwNDQy_4e2ab3ec-624e-430b-bdbc-bc4fa415cfe4">627</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i07262588ba2f48f3afb2f00127e15c91_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzItMy0xLTEtNTEwNDQy_a6976ca8-1fdc-4bbd-9eba-2697e0578964">528</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib505dcfa6cee4cf48118cce1ca4d8490_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzMtMS0xLTEtNTEwNDQy_706c6550-545f-41a3-9468-388acbe4b8cf">63</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i698baf095ba845cea153803e87ea3151_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzMtMi0xLTEtNTEwNDQy_2e2ee12d-51e7-482a-9aab-baf1d094c745">6,874</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i07262588ba2f48f3afb2f00127e15c91_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzMtMy0xLTEtNTEwNDQy_75927fa9-cfac-4f9f-852f-cee549b685b3">1,141</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib505dcfa6cee4cf48118cce1ca4d8490_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzQtMS0xLTEtNTEwNDQy_1374fb67-5068-450a-812e-184c95a5acbe">89</ix:nonFraction>)</span></td><td style="border-top:1pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i07262588ba2f48f3afb2f00127e15c91_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzQtMy0xLTEtNTEwNDQy_3007fb42-9009-4cff-ab42-d38411e9d6e5">575</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib505dcfa6cee4cf48118cce1ca4d8490_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzUtMS0xLTEtNTEwNDQy_aa4290b6-eb3a-414e-9073-c4f0058c5e33">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i698baf095ba845cea153803e87ea3151_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzUtMi0xLTEtNTEwNDQy_48b38344-100b-4618-b24e-68d55c593130">83</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i07262588ba2f48f3afb2f00127e15c91_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInCashAndCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzUtMy0xLTEtNTEwNDQy_a672718e-099e-41e2-9354-197ac81f7af7">38</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></ix:continuation></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-77</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_328"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 18. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYxMDY_ec36c5b7-7914-4610-945e-b12bcbb4a300" continuedAt="i7b78878fd46142949a612d97ea8dcea6" escape="true">Financial liabilities</ix:nonNumeric></span></div><div><span><br/></span></div><ix:continuation id="i7b78878fd46142949a612d97ea8dcea6" continuedAt="i71cf352894e94b0594269c07981b4534"><div style="margin-bottom:9pt;text-align:justify"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:MaturityAnalysisForNonderivativeFinancialLiabilities" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYwMzY_1197d634-a6d8-482d-b94e-ae80f2f22779" continuedAt="i58bd545d676a44e19d766c70393a3426" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial liabilities at December&#160;31, 2022 and the corresponding maturities schedule is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"></td><td style="width:30.177%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.682%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.325%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.206%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.982%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i748c79f85c934956ad7608a1f980fe27_I20221231" decimals="-6" name="ifrs-full:BondsIssuedUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtMy0xLTEtNTEwNDQy_a47ac750-fdf2-4f44-b9bc-a6ab884a7d2a">3,126</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie20bec3b93754ca39a8221e63e11424d_I20221231" decimals="-6" name="ifrs-full:BondsIssuedUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtNC0xLTEtNTEwNDQy_1a882c63-8627-4b42-8d98-e01cba83f0d5">2,098</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b60b45b942342289cbd95769a2646d0_I20221231" decimals="-6" name="ifrs-full:BondsIssuedUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtNS0xLTEtNTEwNDQy_1ada2829-65a8-4258-a928-a074aad2afef">4,170</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b314bb57ed8419c8bacf2f977480d62_I20221231" decimals="-6" name="ifrs-full:BondsIssuedUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtNi0xLTEtNTEwNDQy_8fe1c6cc-13ae-4d63-95c1-2858cb4082ad">18,796</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie20bec3b93754ca39a8221e63e11424d_I20221231" decimals="-6" name="ifrs-full:BankBorrowingsUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzQtNC0xLTEtNTEwNDQy_a4baa241-01e9-4ca3-96a6-03697c4331ba">12</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b60b45b942342289cbd95769a2646d0_I20221231" decimals="-6" name="ifrs-full:BankBorrowingsUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzQtNS0xLTEtNTEwNDQy_819ce57c-271d-4c74-a279-5f1c6f4cec3b">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b314bb57ed8419c8bacf2f977480d62_I20221231" decimals="-6" name="ifrs-full:BankBorrowingsUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzQtNi0xLTEtNTEwNDQy_227bbf55-30f8-4f39-a7fb-e9bdb0b447ca">159</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefad5436188d418eb2bbba9aa02b266a_I20221231" decimals="-6" name="ifrs-full:BankBorrowingsUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzQtNy0xLTEtNTEwNDQy_43564f50-066e-4ac8-a454-d9b359e019e8">355</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:BankBorrowingsUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzQtOC0xLTEtNTEwNDQy_2e94b4d6-0056-4eed-a4cc-23ab8012bf48">899</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea284d63d6674ee5815ba0aea82553a0_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtMS0xLTEtNTEwNDQy_3daa2844-e2bf-490b-b43d-807a42efbeca">2,492</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i45df8eea194e4fdc984a866b2d7f5a93_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtMi0xLTEtNTEwNDQy_e310f5d4-f546-49a9-a9e1-423c9dc1de9d">1,257</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i748c79f85c934956ad7608a1f980fe27_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtMy0xLTEtNTEwNDQy_2f789b97-fc4d-41bf-b046-6bc73ddf5db8">3,180</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie20bec3b93754ca39a8221e63e11424d_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtNC0xLTEtNTEwNDQy_d61feb10-f644-4dd5-868e-348db410614f">2,110</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b60b45b942342289cbd95769a2646d0_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtNS0xLTEtNTEwNDQy_8c0d39f1-359d-4f86-9ddf-bce2d4e444f3">4,173</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b314bb57ed8419c8bacf2f977480d62_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtNi0xLTEtNTEwNDQy_d65dfccc-181e-4111-b8f9-03ca085e18cb">18,955</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefad5436188d418eb2bbba9aa02b266a_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtNy0xLTEtNTEwNDQy_28da5b58-4fa3-4c71-901f-e94c126652cd">29,675</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzUtOC0xLTEtNTEwNDQy_a5c491ec-3281-4c8c-bb53-281d53eb0935">32,167</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea284d63d6674ee5815ba0aea82553a0_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtMS0xLTEtNTEwNDQy_61bf331b-8027-4aca-9406-94842f2a3367">1,184</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i45df8eea194e4fdc984a866b2d7f5a93_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtMi0xLTEtNTEwNDQy_945ad70d-b73d-4668-abee-604f8517b267">673</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i748c79f85c934956ad7608a1f980fe27_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtMy0xLTEtNTEwNDQy_a7bf4d54-0246-4739-b345-763574255281">572</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie20bec3b93754ca39a8221e63e11424d_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtNC0xLTEtNTEwNDQy_b3cc90bf-19f6-4e49-995e-e50daf9fe19d">202</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b60b45b942342289cbd95769a2646d0_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtNS0xLTEtNTEwNDQy_82558e39-101d-4e38-903b-d6b56c7bc382">376</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b314bb57ed8419c8bacf2f977480d62_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtNi0xLTEtNTEwNDQy_0759ba0e-07e0-47d7-a790-57ca580ed6bd">1,537</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefad5436188d418eb2bbba9aa02b266a_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtNy0xLTEtNTEwNDQy_255b7f04-2e45-427a-8ecb-87a6c79fc3b5">3,360</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzYtOC0xLTEtNTEwNDQy_6aeb4551-cf37-4ed6-bc3a-b9d66ded3c30">4,544</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea284d63d6674ee5815ba0aea82553a0_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctMS0xLTEtNTEwNDQy_36f2e6c7-75b5-467f-9f22-9f5c0cf2ff92">344</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i45df8eea194e4fdc984a866b2d7f5a93_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctMi0xLTEtNTEwNDQy_23e73522-1cb8-408f-b670-d1dcb455412d">80</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i748c79f85c934956ad7608a1f980fe27_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctMy0xLTEtNTEwNDQy_cbde9c74-e389-4c42-b74b-a56e05b2c1b1">65</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie20bec3b93754ca39a8221e63e11424d_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctNC0xLTEtNTEwNDQy_fee1ba38-8872-4b2c-8748-8f3683461d5a">109</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b60b45b942342289cbd95769a2646d0_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctNS0xLTEtNTEwNDQy_90ffdafb-c29a-4b79-8d49-90a90a8df360">520</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b314bb57ed8419c8bacf2f977480d62_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctNi0xLTEtNTEwNDQy_eeae2f11-2b56-4e82-a96b-c2fdae9e8525">1,250</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefad5436188d418eb2bbba9aa02b266a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctNy0xLTEtNTEwNDQy_2b3f2f1a-4948-4590-9463-809ae21894eb">2,024</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialLiabilitiesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzctOC0xLTEtNTEwNDQy_993e9b64-3ab5-4bbf-bcf0-792f4d0abb96">2,368</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea284d63d6674ee5815ba0aea82553a0_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtMS0xLTEtNTEwNDQy_d8c0c9a5-ea42-4f9b-b714-4fc37889e11a">4,020</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i45df8eea194e4fdc984a866b2d7f5a93_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtMi0xLTEtNTEwNDQy_6851eca7-b9b7-4bf1-b526-95baa43d3e9c">2,010</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i748c79f85c934956ad7608a1f980fe27_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtMy0xLTEtNTEwNDQy_3d016d68-58d2-49cd-a9a6-10ff968aaf83">3,817</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie20bec3b93754ca39a8221e63e11424d_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtNC0xLTEtNTEwNDQy_41308455-7881-47f0-8585-8be7b823c48e">2,421</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b60b45b942342289cbd95769a2646d0_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtNS0xLTEtNTEwNDQy_296c8d6a-0287-4140-8fdc-b6fe1eec20bd">5,069</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b314bb57ed8419c8bacf2f977480d62_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtNi0xLTEtNTEwNDQy_bbc33af6-89d0-487c-8104-abc4f95187a0">21,742</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefad5436188d418eb2bbba9aa02b266a_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtNy0xLTEtNTEwNDQy_17c328c7-492a-4d61-9284-30354ccc8981">35,059</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzgtOC0xLTEtNTEwNDQy_d0555671-8ce2-4f99-9b21-5639255cf00d">39,079</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimate of future payments for interest on these financial liabilities at December 31, 2022 is as follows: <ix:nonFraction unitRef="eur" contextRef="i44343f125a1e48be9f9c0e7838a0d1b7_I20221231" decimals="-6" name="ifrs-full:InterestPayable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzI1MQ_2f5ee401-9854-4b75-8f74-8b56a81a9165">1,254</ix:nonFraction> million euros in</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023, <ix:nonFraction unitRef="eur" contextRef="i225ee7f614314387a2ab4389ebd1488f_I20221231" decimals="-6" name="ifrs-full:InterestPayable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzI3NQ_83cde45f-9f48-4a34-93cb-b972d2545fe6">1,147</ix:nonFraction> million euros in 2024, <ix:nonFraction unitRef="eur" contextRef="ifd9484f117584541b944172ff01837e6_I20221231" decimals="-6" name="ifrs-full:InterestPayable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzI5OQ_7585e884-9e11-4a6a-8e8a-f9a27eca7015">1,057</ix:nonFraction> million euros in 2025, <ix:nonFraction unitRef="eur" contextRef="i2b6eb3bbabb6445984a7bedd7e80fad6_I20221231" decimals="-6" name="ifrs-full:InterestPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzMyMw_30117b44-6914-463a-8fc1-73de5f4d0a1e">978</ix:nonFraction> million euros in 2026, <ix:nonFraction unitRef="eur" contextRef="i4f1f7d197c8540af957db739a0d0d910_I20221231" decimals="-6" name="ifrs-full:InterestPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM0Nw_c6a8aa1b-09b7-4df1-8223-d3a5f2eb84e2">871</ix:nonFraction> million euros in 2027 and <ix:nonFraction unitRef="eur" contextRef="ib70fde8ff1bf43639c7e96d04ca1df7b_I20221231" decimals="-6" name="ifrs-full:InterestPayable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM3NA_47745eb8-4b0e-4562-b653-194a403925e9">7,840</ix:nonFraction> million euros in years after 2027. For floating rate financing, the Group mainly estimates future interest using the forward curve of the various currencies at December 31, 2022.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 (<ix:nonFraction unitRef="eur" contextRef="iaa2139d1537649efac65e795aa8d1558_I20221231" decimals="-6" name="tef:CurrentFinancialLiabilitiesAtFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzgwMA_72649c51-7006-40dc-b74e-4ead43c6279c">712</ix:nonFraction> million euros, see Note 15) and non-current financial assets (<ix:nonFraction unitRef="eur" contextRef="iaa2139d1537649efac65e795aa8d1558_I20221231" decimals="-6" name="tef:NoncurrentFinancialLiabilitiesAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzg2NQ_87c0fe9f-8ea5-48ef-a0e8-672ab7619c82">2,668</ix:nonFraction> million euros, see Note 12). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 and 2022, 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, 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> there was no outstanding balance pending payment.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> At December 31, 2021 the corresponding amount pending payment recognized in "Loans and other payables" line was <ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzE1MzkzMTYyNzk5MDc2_493dc777-1624-40d4-b51f-78098570cae8">36</ix:nonFraction> million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The deferred payments made in relation to this item during the year amounted to </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzE1NDA_b1e4508b-0722-44ec-909f-f62b0a333d4b">41</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzE1NTg_50885e83-1356-4189-8db0-8d2c5cac3b74">108</ix:nonFraction> million euros in 2021).  </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYxMTA_1c6ba17a-5e90-42ad-9992-cd2923f1ec04" continuedAt="ibf09fbf70b3047e29f886f2200d4df25" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of the financial liabilities by category at December&#160;31, 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.702%"></td><td style="width:0.1%"></td></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities at amortized cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:1pt solid 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contextRef="ideddfaee30de44309e8a5c0ef1eb2aec_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtMS0xLTEtNTEwNDQy_7d7627c9-f5c6-4cda-b85a-38ae07378be0">973</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefc691ddd8044faa81d99f156ef53a9a_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtMi0xLTEtNTEwNDQy_d5b35e2f-3507-44e4-af48-ac245a79cc40">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4a5b24789ba447d807ab95ebe3d0246_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtMy0xLTEtNTEwNDQy_512c0d3b-71f2-4296-914b-ae53eb6b5886">1,395</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i02b8d63516ac42a79833da531fa4597a_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtNC0xLTEtNTEwNDQy_ee8564ee-1f4a-4508-b1c5-78be7552ee57">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibd07e88f57624fcbade148efbd84c99e_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtNS0xLTEtNTEwNDQy_767e27cf-0597-4e03-afea-fccae03bb642">2,368</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0f502ab5dd20490a935569519db2f50c_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtNi0xLTEtNTEwNDQy_5d9355db-3fa0-4aa2-93b6-2938ed7c5a93">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6bad1a6641ca4abab4f3ce2ce5a8ac6b_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtNy0xLTEtNTEwNDQy_a686c6a9-5417-4048-b9fd-4538936faf8e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7bc0bd30f5a746aca97648af0d818501_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtOC0xLTEtNTEwNDQy_1cc7b1c2-1317-4dc3-b6d7-b8be60ecc808">2,368</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7bc0bd30f5a746aca97648af0d818501_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilitiesAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzUtOS0xLTEtNTEwNDQy_53adb593-4b7d-4979-8f7c-dbdcf8f47c3f">2,368</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total financial liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia84fabae43764d45820e8f6e682deda5_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzYtMS0xLTEtNTEwNDQy_c2fef021-4347-4f71-922a-a02e22088f92">973</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i559b7e4cab234dc285d3fa36f4a4cb56_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzYtMi0xLTEtNTEwNDQy_d364affc-f9bf-4dc9-8abe-129f77b543a6">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7b1adcc2b728498792847a3456da4019_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzYtMy0xLTEtNTEwNDQy_73321211-03f2-4540-a078-78142cfe17ed">1,395</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i99a7787765464ec993429213b2b8a0e2_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzYtNC0xLTEtNTEwNDQy_fcc18d17-5e53-44cf-b9b8-cf0525887a83">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iec968007e5d84565a6103513fcc31567_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzYtNS0xLTEtNTEwNDQy_f5fb0cba-ce4b-4d2a-8d67-2d0074c635df">2,368</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia0d136ceb6d245b7aca542c855b20e34_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo4ZDM3YWFlOThkZWY0MmRhODkzZDI1ZDg4MGI3YzQzZi90YWJsZXJhbmdlOjhkMzdhYWU5OGRlZjQyZGE4OTNkMjVkODgwYjdjNDNmXzYtNi0xLTEtNTEwNDQy_98d35398-a73c-48ff-aabc-74e39aa5e403">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iebdec75cf9594815a4baf424d47afd6c_I20221231" decimals="-6" 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style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-78</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i71cf352894e94b0594269c07981b4534" continuedAt="i5401b1ef26864aec805f528247398cae"><div><ix:continuation id="ibf09fbf70b3047e29f886f2200d4df25"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:20.976%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.917%"></td><td style="width:0.1%"></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzUtMy0xLTEtNTEwNDQy_a2629edc-fef1-4fb6-9e9d-a8c994cde4c2">1,670</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib894be5eee6b4e90a3b5cf80430c1764_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzUtNC0xLTEtNTEwNDQy_7c64a09f-25bf-48cf-a515-19b7b7cd0314">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1d39797ba3224f858caea51c547995e7_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzUtNS0xLTEtNTEwNDQy_39a73272-17d0-46c3-9339-47ba0e2cb373">2,188</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i82e493707efd41358ecc32ab0e8958fe_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzUtNi0xLTEtNTEwNDQy_321c210e-0fe7-446e-9c26-e9fbcd6896d0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3449865a5bba4b29968cb328635b9884_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzUtNy0xLTEtNTEwNDQy_198b9047-dcea-4134-8b37-6bd85f5ff11a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i94c2f888e11e44a4aa2334fcaa271bfd_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzUtOC0xLTEtNTEwNDQy_6864d7e3-0376-46fc-965d-98870973f7eb">2,194</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i94c2f888e11e44a4aa2334fcaa271bfd_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilitiesAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzUtOS0xLTEtNTEwNDQy_fc903df7-e9fc-40f6-a774-5a8f44753101">2,194</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total financial liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3daf1eda606143749b189c17f54d7457_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzYtMS0xLTEtNTEwNDQy_9c5c52f4-c1a7-4523-aea1-1ab4e4f4c7ce">524</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia851d1e631904b84a9644d884ed0d731_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzYtMi0xLTEtNTEwNDQy_c03ecf57-844f-40e8-927e-a56f86a4b007">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i36fb0e3da23f427e9f19c2636effc424_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzYtMy0xLTEtNTEwNDQy_8feb9d4a-0726-4998-80f4-6abf3c50c553">1,670</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib67ea04b6f924a9580ac1a27745c5f99_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzYtNC0xLTEtNTEwNDQy_1eae9b63-5836-47ea-b643-6d46e44946f7">6</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0097125a701b4b53bbec0bb0e1862745_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZToxMTQzMzAwYjFkNjM0NTQ2YjUxZGVlZjZkYTIyYmZmNy90YWJsZXJhbmdlOjExNDMzMDBiMWQ2MzQ1NDZiNTFkZWVmNmRhMjJiZmY3XzYtNS0xLTEtNTEwNDQy_7b94715d-1bec-4914-a855-7fa3f4f6a1fd">2,188</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i114517f65e4844669110c3b7bf4975e1_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:fixed-zero" scale="6" 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style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of the fair values of the Telef&#243;nica Group&#8217;s debt instruments required an estimate of the credit spread curve for each currency and corresponding subsidiary using the prices of the Group&#8217;s bonds and credit derivatives. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, some of the financing arranged by Telef&#243;nica Group companies in Latin America (Peru), which amounted to approximately <ix:nonFraction unitRef="number" contextRef="iee234521195d40fbac8643dc1a70a6ad_I20221231" decimals="2" name="tef:ProportionOfGrossDebt" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzIwNTk_84f47916-37db-46c2-ad81-202384ef110c">1</ix:nonFraction>% of the Telef&#243;nica Group&#8217;s gross debt, was subject to compliance with certain financial covenants. 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style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.572%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.911%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.771%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash used in financing activities</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzMtNy0xLTEtNTEwNDQy_3052143a-8be4-467c-9511-2a53d9ab4e97">899</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="width:18.694%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.844%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.630%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.630%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.807%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpmMGM3NTkzODhhODk0NzlkYmMwNTAxMDMxZmFlM2M4YS90YWJsZXJhbmdlOmYwYzc1OTM4OGE4OTQ3OWRiYzA1MDEwMzFmYWUzYzhhXzItNi0xLTEtNTEwNDQy_8b4027d3-9b1e-410f-9583-97c52831cff8">12</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if75fc562afae4c1ebbd6048269808c8e_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib5f15f5cfeb44c7680532cc7fdb55983_D20210101-20211231" decimals="-6" name="tef:AcquisitionsofFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpmMGM3NTkzODhhODk0NzlkYmMwNTAxMDMxZmFlM2M4YS90YWJsZXJhbmdlOmYwYzc1OTM4OGE4OTQ3OWRiYzA1MDEwMzFmYWUzYzhhXzQtMi0xLTEtNTEwNDQy_74e0f686-b30c-4a44-9e51-aaa34e1ef4cb">3,120</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib5f15f5cfeb44c7680532cc7fdb55983_D20210101-20211231" decimals="-6" name="tef:DisposalsofFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpmMGM3NTkzODhhODk0NzlkYmMwNTAxMDMxZmFlM2M4YS90YWJsZXJhbmdlOmYwYzc1OTM4OGE4OTQ3OWRiYzA1MDEwMzFmYWUzYzhhXzQtMy0xLTEtNTEwNDQy_f41f18da-c268-4e6e-9725-d0e07db52a49">3,178</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib5f15f5cfeb44c7680532cc7fdb55983_D20210101-20211231" decimals="-6" sign="-" name="tef:TranslationDifferencesofFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpmMGM3NTkzODhhODk0NzlkYmMwNTAxMDMxZmFlM2M4YS90YWJsZXJhbmdlOmYwYzc1OTM4OGE4OTQ3OWRiYzA1MDEwMzFmYWUzYzhhXzQtNC0xLTEtNTEwNDQy_95bd0b15-e1d4-4d02-84f1-160ee9df9c68">32</ix:nonFraction>)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib5f15f5cfeb44c7680532cc7fdb55983_D20210101-20211231" decimals="-6" name="tef:FairValueAdjustmentsandFinancialUpdatesofFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpmMGM3NTkzODhhODk0NzlkYmMwNTAxMDMxZmFlM2M4YS90YWJsZXJhbmdlOmYwYzc1OTM4OGE4OTQ3OWRiYzA1MDEwMzFmYWUzYzhhXzQtNS0xLTEtNTEwNDQy_32ff47b2-ec4f-43b5-b21f-72b5cd40117a">80</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib5f15f5cfeb44c7680532cc7fdb55983_D20210101-20211231" decimals="-6" name="tef:Increasedecreasethroughothermovementsfinancialliabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpmMGM3NTkzODhhODk0NzlkYmMwNTAxMDMxZmFlM2M4YS90YWJsZXJhbmdlOmYwYzc1OTM4OGE4OTQ3OWRiYzA1MDEwMzFmYWUzYzhhXzQtNi0xLTEtNTEwNDQy_f3873849-1732-47fd-8951-7bddc75b285f">168</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4712dbad44204881b0036613d21f621d_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpmMGM3NTkzODhhODk0NzlkYmMwNTAxMDMxZmFlM2M4YS90YWJsZXJhbmdlOmYwYzc1OTM4OGE4OTQ3OWRiYzA1MDEwMzFmYWUzYzhhXzQtNy0xLTEtNTEwNDQy_1d591782-df1f-45b0-b50f-1df47134fa11">4,693</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-79</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><ix:continuation id="i5401b1ef26864aec805f528247398cae" continuedAt="i5e267728a694448a81b55c0094334bab"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Debentures and bonds </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial updates of debenture and bond issues include mainly the value adjustment of the basis adjustment bonds due to their fair value hedges, impacted by interest rate hikes.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the nominal amount of outstan</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ding debentures and bonds issues was <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:BondsIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzI4Nzk_3b66576c-5e1c-480c-9fdd-77a1c61410ca">31,095</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:BondsIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzI4OTc_3aefdfde-9f1f-4dd5-b9d5-17b20a56f361">32,156</ix:nonFraction> million euros at December&#160;31, 2021). Appendix III presents the characteristics of all outstanding debentures and bond issues at the year-end 2022, and the significant issues made during the year. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. has a full and unconditional guarantee on issues made by Telef&#243;nica Emisiones, S.A.U., and Telef&#243;nica Europe, B.V., both of which are wholly owned finance subsidiaries of Telef&#243;nica, S.A. No other subsidiaries of Telef&#243;nica, S.A. provide guarantees on these issues.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Promissory notes and commercial paper </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main programs for issuance of promissory notes and commercial paper are the following: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">At December&#160;31, 2022, Telef&#243;nica Europe, B.V. had a commercial paper issuance program guaranteed by Telef&#243;nica, S.A. for up to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="tef:Commercialpapersissuable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM1NTU_1c807b35-3cac-4ca5-bfaa-5a80cab22cde">5,000</ix:nonFraction> million euros. The outstanding balance of commercial paper issued under this program at December&#160;31, 2022 was <ix:nonFraction unitRef="eur" contextRef="i1e72e2077e464576938300784d77c1c8_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM2NTM_b9f28c41-7567-4d8f-91d5-dcf88a9d7e6c">500</ix:nonFraction> million euros, issued at an average interest rate of <ix:nonFraction unitRef="number" contextRef="i322122c8870843f78b23d2d73e45a8c6_D20220101-20221231" decimals="4" name="tef:BorrowingsAverageInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM3MTA_9b142203-3629-4c69-9aa3-a64dc28bec24">0.28</ix:nonFraction>% for 2022 (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CommercialPapersIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM3MjE_ecca3a4c-1074-4156-bdc5-d9f9bb5c3bcf">999</ix:nonFraction> million euros issued in 2021 at an average rate of -<ix:nonFraction unitRef="number" contextRef="if38bb26a7a1c4fc0998d41faf81f82a1_D20210101-20211231" decimals="4" name="tef:BorrowingsAverageInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM3NzQ_ebf69894-4157-44ae-b288-3d2a440e2bfa">0.46</ix:nonFraction>%). </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">At December&#160;31, 2022, Telef&#243;nica, S.A. had a corporate promissory note program for <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="tef:Promissorynotesissuableallowedincrease" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzExNTQ0ODcyMDk5NTgz_11e0bd90-ec47-4be7-b462-4026ff5dfc92">500</ix:nonFraction> million euros expandable to <ix:nonFraction unitRef="eur" contextRef="ib66b185632674438b1d6bf646f539625_I20221231" decimals="INF" name="tef:Promissorynotesissuableallowedincrease" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM4NDg_61db0c61-ac86-47bb-9c9f-0f762eeb9eae">2,000</ix:nonFraction> million euros, with <ix:nonFraction unitRef="eur" contextRef="i24cdd8ea5bbf4ea9865a885d11ce6fc0_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt-sec:numwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM3MzgzMzk1MzU1NTA2_7e25caad-501d-4832-8716-7ec878b7b8a0">no</ix:nonFraction> outstanding balance at December&#160;31, 2022 (<ix:nonFraction unitRef="eur" contextRef="i990b768b17af44cd9adbbf4092f98662_I20211231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzEyMDk0NjI3OTExNzY1_ccd82758-3da5-4332-b379-b33596667a85">30</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at December 31, 2021). </span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interest-bearing debt</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.3pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other movements in "Loans and other payables" at December 31, 2022 include collections and payments related to collateral liabilities deposit associated with Telef&#243;nica, S.A. debt for a net amount of <ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="tef:PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzU0OTc1NTgxNDgzMDY_c4e422ab-f0a6-492a-ba78-e042760f9aea">580</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" decimals="-6" name="tef:PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzU0OTc1NTgxNDgzMTE_2e43a3f8-1ad5-41a6-aa0b-3801a5e5f516">309</ix:nonFraction> million euros at December 31, 2021).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The average interest rate on outstanding loans and other payables at December&#160;31, 2022 was <ix:nonFraction unitRef="number" contextRef="i4ba28fead72c4641a2f1aae465232a6e_D20220101-20221231" decimals="4" name="tef:BorrowingsAverageInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzQwNjA_a2392dfa-5b8f-49bd-886b-5ef05f751514">3.45</ix:nonFraction>% (<ix:nonFraction unitRef="number" contextRef="i7368636ae5b84cbd973e024c0c30ecaf_D20210101-20211231" decimals="4" name="tef:BorrowingsAverageInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzQwNjQ_cbcd7286-0e5c-4d9c-9f8e-820392c6d22c">1.30</ix:nonFraction>% in 2021). This percentage does not include the impact of hedges arranged by the Group. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions included under &#8220;Interest-bearing debt&#8221; line outstanding at December&#160;31, 2022 and 2021 and their nominal amounts are provided in Appendix V. </span></div></ix:continuation><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYxMjI_f3d37fc8-ac57-4ee2-8723-91a1f8b7f9c6" continuedAt="i25fc11e7583f45b0891da614e96d9a3f" escape="true"></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-80</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i5e267728a694448a81b55c0094334bab"><ix:continuation id="i25fc11e7583f45b0891da614e96d9a3f" continuedAt="id90c96d047d04341b2ed155fdc89349c"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest-bearing debt arranged or repaid in 2022 mainly includes the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:20.664%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.076%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.076%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.076%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.076%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.076%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.076%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.080%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Limit 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Drawndown 2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayment 2022 (million euros)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i82bd7786e7904496a357a80f3b3a955f_I20221231" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i29535d7d4dbd43efb80809cb8fa34274_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzQtMy0xLTEtNTEwNDQy_45d4fc3f-120c-4687-8328-737cfadf1355">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones S.A. E.S.P.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span 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style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2c7000e849834f9abf0d031a808ca7b3_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzEyLTMtMS0xLTUxMDQ0Mg_5283ab92-711b-46a6-9f57-415f81bc5eb7">199</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie569d48045bd4f2aab7011e1509f0a09_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzEyLTYtMS0xLTUxMDQ0Mg_f7db038a-c6ac-44a8-8e3b-4f8783ff792e">199</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie569d48045bd4f2aab7011e1509f0a09_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzEyLTctMS0xLTUxMDQ0Mg_637fbb0a-059f-4c87-8581-02aff9eb6091">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9fd6b4ec96d74250ac57d7e0e48ab0ca_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzE0LTEtMS0xLTUxMDQ0Mg_1759b82c-54d6-4788-bf12-78268c168500">360</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4f59cf39d44248d2843d94644f16af36_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzE0LTYtMS0xLTUxMDQ0Mg_0ef69536-181e-4af7-bdad-e2b82f821da9">245</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4f59cf39d44248d2843d94644f16af36_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzE0LTctMS0xLTUxMDQ0Mg_74092eab-3879-40f9-97f2-833065184d3d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44c19bd2fdbe45588c58d90b28f10535_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzE5LTEtMS0xLTUxMDQ0Mg_56cf564c-3882-4ee4-a501-31fa4ccc2c60">300</ix:nonFraction>&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44c19bd2fdbe45588c58d90b28f10535_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzE5LTMtMS0xLTUxMDQ0Mg_c7edc4b3-ee84-4c9b-91ef-8787af74054e">201</ix:nonFraction>&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if9bee67c41614b2d9d8ba0484ed322ee_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzE5LTYtMS0xLTUxMDQ0Mg_3bc21f16-e4ae-42b2-bebe-9fad23d4b823">100</ix:nonFraction>&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if9bee67c41614b2d9d8ba0484ed322ee_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTozMWQ2NjI0MmNlOWM0ODFmYmJjZDBmMDFlMDYyYTY0MS90YWJsZXJhbmdlOjMxZDY2MjQyY2U5YzQ4MWZiYmNkMGYwMWUwNjJhNjQxXzE5LTctMS0xLTUxMDQ0Mg_a17e8f40-e509-4d64-84f0-f51207e59b7e">70</ix:nonFraction>&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for <ix:nonFraction unitRef="eur" contextRef="i59fda828ccd24952abc89840d1b6eefe_I20220113" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzExNTQ0ODcyMDk5NTky_b9c2aefb-58c8-47ec-aef6-ac348087f4fb">5,500</ix:nonFraction> million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%">On January 26, 2022 there was an early repayment for <ix:nonFraction unitRef="eur" contextRef="i713311593fcd4b35a3d57f630eb2e5e3_D20220126-20220126" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzExNTQ0ODcyMDk5NTk5_5e57f874-abdb-44ff-97cd-75be1a1025e8">132</ix:nonFraction> million dollars of the bilateral loan originally scheduled to mature in 2023.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">  </span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the Telef&#243;nica Group presented availabilities of financing from different sources that amounted to approximately <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:BorrowingsRemainingBorrowingCapacity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzU3NDY_567031f2-ff37-436e-ab96-14e6cadc83da">11,737</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:BorrowingsRemainingBorrowingCapacity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzU3NjQ_7b758b5e-0dc3-434d-9d87-3471f5428d3e">12,182</ix:nonFraction> million euros at December&#160;31, 2021), of which <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:BorrowingsMaturinginmorethanTwelveMonths" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzU3OTg_2293407d-4a3e-443d-a4be-d572da0cb697">11,434</ix:nonFraction> million euros will mature in more than twelve months. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Within these availabilities of financing, <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzExNTQ0ODcyMTAyNDI0_ed273f75-2165-4a72-ab1c-7e8654c7e3e2">10,114</ix:nonFraction> million euros are included, whose interests are linked to the fulfillment of sustainability objectives. Of these, <ix:nonFraction unitRef="eur" contextRef="i26451395dcae4d63bfc59b3451230e8a_I20221231" decimals="-6" name="tef:BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzExNTQ0ODcyMTAyNDMy_083efacd-c1e2-4227-ae73-cf6b3a3b8ba7">3,864</ix:nonFraction> million euros correspond to committed lines and bilateral financing, <ix:nonFraction unitRef="eur" contextRef="i1722df71d3734041a09eb46b7b23bb79_I20221231" decimals="-6" name="tef:BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzExNTQ0ODcyMTAyNDM5_96eafe8a-0ac8-498d-a6b1-21034c6665e1">750</ix:nonFraction> million euros correspond to the sustainable syndicated loan of Telef&#243;nica Germany GmbH &amp; Co. OHG (see Annex V) and <ix:nonFraction unitRef="eur" contextRef="i81bbb050428b4d74b8f67866dd484c11_I20221231" decimals="-6" name="tef:BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzExNTQ0ODcyMTAyNDQ0_bb4bd921-9421-474a-99a2-04e9206e5984">5,500</ix:nonFraction> million euros correspond to the sustainable syndicated loan of Telef&#243;nica, S.A. (see Note 29.d).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Loans by currency </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYwODM_51425c48-57a7-40f9-a8f0-a553a0696928" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Loans and other payables&#8221; line by currency at December&#160;31, 2022 and 2021, and the equivalent value of foreign-currency loans in euros, is as follows: 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1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance (in millions)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Local Currency</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Euro</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i614618b266094de4bea87ab69c8c6327_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzMtMS0xLTEtNTEwNDQy_2453712a-556b-4697-abc2-08763030e8e5">2,823</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3899931bd29d44218291aaa86f6aa1dc_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzMtMi0xLTEtNTEwNDQy_d2861859-46f2-48aa-ad13-e930e8bca845">3,148</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i614618b266094de4bea87ab69c8c6327_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" 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contextRef="i254f25ddc6bb41758e3120748b9fb084_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzQtMS0xLTEtNTEwNDQy_42ccb98d-047a-47a7-b0fd-ceb21fc7efd9">514</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i6927649b4c294ae78d150bedab55d908_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzQtMi0xLTEtNTEwNDQy_1f923978-dbf2-49dc-bec6-4c2e9d05f9d8">885</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i254f25ddc6bb41758e3120748b9fb084_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzQtMy0xLTEtNTEwNDQy_44694acb-e2a4-4822-bbd3-3aab3bc5ab52">481</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6927649b4c294ae78d150bedab55d908_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" 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name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzUtMi0xLTEtNTEwNDQy_dc6959fd-2948-4f58-9b9d-c1907fd28513">225</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i111c26510dfa4e11b868d6ac0c29d59f_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzUtMy0xLTEtNTEwNDQy_6c18dcc6-bb47-4716-b30b-823ca054a838">303</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i59b47a9212784f12b23e4e8caf06de04_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzUtNC0xLTEtNTEwNDQy_52fe9dc4-63c1-4f06-90f4-a71206c1ef56">36</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="cop" 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name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzYtMi0xLTEtNTEwNDQy_7fdbd558-3699-4e51-982b-a0c404242603">1,399,759</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iec56650a69904c5aa550146892a5a785_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzYtMy0xLTEtNTEwNDQy_dedee699-9c06-41f8-ae51-50d2b739ed7a">273</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1057ca22aa9043efbb37c4b92255f2b0_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzYtNC0xLTEtNTEwNDQy_7d55b524-4f13-4f49-87f4-5eba57c07e1d">310</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" 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name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzctMi0xLTEtNTEwNDQy_9d691e35-6dba-4b44-81e0-7bcefaf19f43">64</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i466c882f87c14749b9947a1d84467e48_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzctMy0xLTEtNTEwNDQy_d4a50a71-e125-41bb-b39a-99d8dd98bbbb">217</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie38ce4279ddd44fa98adca0cd625efb4_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzctNC0xLTEtNTEwNDQy_dbb98980-bdbf-465c-9d44-92f3bacfe392">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguayan peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="uyu" contextRef="i2663c4c54b1c4ae5be07fd59f5fe0924_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzgtMS0xLTEtNTEwNDQy_8d74dcfa-3fe2-4413-ac20-314fb4abcc70">5,456</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="uyu" contextRef="ida28505e940041ee81259a7a68576bab_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzgtMi0xLTEtNTEwNDQy_20619b97-ca40-4d49-8f1f-23a9579c3d2e">5,456</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2663c4c54b1c4ae5be07fd59f5fe0924_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzgtMy0xLTEtNTEwNDQy_6e46d7e0-2603-4254-b6de-6e76132769f3">128</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida28505e940041ee81259a7a68576bab_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzgtNC0xLTEtNTEwNDQy_30e521fe-08d4-4378-b771-00709873f878">108</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chilean Peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="clp" 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name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzktMi0xLTEtNTEwNDQy_1908c776-6641-4f4d-beb1-660d05bbbfb8">177,845</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib716d3e122414c1d81ddb53a8515d016_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzktMy0xLTEtNTEwNDQy_af7de509-78b6-4dfa-b070-2f7239a362cf">199</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44994160a3c24f27874481c6f7ed12d1_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzktNC0xLTEtNTEwNDQy_ed11432e-562d-45e3-850c-7e9ca4399760">186</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8a82792d1e6f47538b0071dea6326137_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzEwLTQtMS0xLTUxMDQ0Mg_a81cf691-7ace-49c4-8c3f-964802c7ea29">121</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzExLTMtMS0xLTUxMDQ0Mg_1a108b2e-f105-4caf-81b5-96db1488962a">4,544</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTo5NzBkOTJlMzQ5MDk0ZTU1OTQyM2Q3OTZmMDBhYWViMy90YWJsZXJhbmdlOjk3MGQ5MmUzNDkwOTRlNTU5NDIzZDc5NmYwMGFhZWIzXzExLTQtMS0xLTUxMDQ0Mg_02d33f3f-0412-48ae-8fe1-5e92fbe3f64a">4,693</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_331"></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-81</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 19. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjI4_6f51ff7f-b247-4e9b-adfd-c5a4e1e1a858" continuedAt="ide69daa063924241a0051908676f50f7" escape="true">Derivative financial instruments and risk management policies</ix:nonNumeric></span></div><ix:continuation id="ide69daa063924241a0051908676f50f7" continuedAt="if54e96d73ea843dd98005f7ab60ba8cf"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main market risks affecting the Group companies are as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Exchange rate risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: arises primarily from: (i) Telef&#243;nica&#8217;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.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Interest rate risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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), (ii) the value of long-term liabilities at fixed interest rates and (iii) financial expenses and principal payments of inflation-linked financial instruments, considering interest rate risk as the impact of changes in inflation rates. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Share price risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Liquidity risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Country risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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 Telef&#243;nica Group operates, especially in Latin America.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Credit risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Risk management </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group actively manages these risks through the use of derivatives (primarily on exchange rates, interest rates, credit, 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 Telef&#243;nica Group&#8217;s solvency, facilitate financial planning and take advantage of investment opportunities. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group manages its exchange rate risk and interest rate risk in terms of net financial debt (including leases under IFRS 16) plus commitments as calculated by the Group. The Telef&#243;nica 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&#8217;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 Telef&#243;nica Group should be considered as a substitute for gross financial debt (the sum of current and non-current interest-bearing debt).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a more detailed description on reconciliation of net financial debt and net financial debt plus commitments to gross financial debt, see Note 2.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-82</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="if54e96d73ea843dd98005f7ab60ba8cf" continuedAt="ic79602c7e0014a3b89b1591d3130a186"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exchange rate risk</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, the net financial debt in Latin American currencies was equivalent to approximately <ix:nonFraction unitRef="eur" contextRef="i62ad08691ae744a485bfb17f7fb78af2_I20221231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ3MzY_d89c6dae-fbf0-45bd-becb-1fd7af0c374b">6,360</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i35dd3d9f260c4eb49248d8c51412b005_I20211231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ3NTQ_ec762ef9-9812-4f84-8a76-c676171f7ebd">6,853</ix:nonFraction> million euros in 2021). 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 an economic hedge of exchange rate risks therefore depends on which currencies depreciate relative to the euro. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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, 2022, the Telef&#243;nica Group&#8217;s net financial debt denominated in dollars to hedge that component was equivalent to <ix:nonFraction unitRef="eur" contextRef="iac0e91a5820e467a81c0d1a60834e22e_I20221231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzU2MDQ_aa60d062-abb6-4314-ac55-8bb33a2a249c">978</ix:nonFraction> million euros of asset position (<ix:nonFraction unitRef="eur" contextRef="i1d55b22063a14f48992ec26dca6d8aab_I20211231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzU2NDA_ac4f7bf4-5b0a-45dc-ae87-cafee58f4b1c">418</ix:nonFraction> million euros of asset position in 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, net financial debt in pounds sterling was equivalent to <ix:nonFraction unitRef="eur" contextRef="i5caa3933acbe415d90bb99cc2bfb0366_I20221231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzU3NDc_a012b2b9-7328-4b46-9bb7-d7ede4fd1c39">597</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i0989265db5044462b221664faf615f57_I20211231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzU3NjU_e73fda01-26c8-4fcb-9d33-84c790dfac1a">374</ix:nonFraction> million euros at December 31, 2021). As a consequence of setting up in June 2021 of the joint venture VMO2 (see Note 2), the previous objective of maintaining a debt in pounds sterling in the consolidated balance sheet of the Group of twice OIBDA has been modified, as a result of changing the consolidation of UK assets (VMO2 is registered by equity method) and incorporating VMO2 to leverage higher than the ratio of twice Debt OIBDA.  The synthetic debt target denominated in pounds will be directly related to the flows that are expected to be repatriated from VMO2. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 and collections in foreign currency, the actual value of the investments (subsidiaries) in currencies other than the euro. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, net foreign exchange results were obtained from the management of the exchange rate (excluding monetary correction) for a total negative net result of <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-5" sign="-" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzc5MjU_467a123d-a855-4777-bc56-be7b721ed1d0">23.4</ix:nonFraction> million euros (negative net result of <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-5" sign="-" name="ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzc5NjY_c56b043b-6535-4909-b93d-b2ff277720bf">0.2</ix:nonFraction> million euros in 2021).  </span></div></ix:continuation><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjM4_6cf4bedf-f592-4a7e-8934-b0424f257439" continuedAt="ic0852d14945a4a81bcf1163a178d2f68" escape="true"></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-83</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ic79602c7e0014a3b89b1591d3130a186" continuedAt="ifdb4755b5e6a4a31a2f78362b5b184cf"><ix:continuation id="ic0852d14945a4a81bcf1163a178d2f68" continuedAt="i95979fec53784860886b030c0a055045"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <ix:nonFraction unitRef="number" contextRef="ic235aee57b1a4281bd76d3b8df53b41e_D20220101-20221231" decimals="INF" name="tef:SensitivityAnalysisIncreaseInExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzg3NDk_061168f5-75f8-481b-93c4-43db526045de">10</ix:nonFraction>%.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.181%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.999%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on the consolidated income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated equity</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">All currencies vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ica3a110a511747d3873bd7590470fdcb_D20220101-20221231" decimals="2" name="tef:SensitivityAnalysisIncreaseInExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzItMS0xLTEtNTEwNDQy_9f1f5074-619f-41b5-b9d5-0067c5a0a55b">10</ix:nonFraction>%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ica3a110a511747d3873bd7590470fdcb_D20220101-20221231" decimals="-6" sign="-" name="tef:SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzItMi0xLTEtNTEwNDQy_f486dd4c-ff46-4e40-936d-6bb6a198cd2c">11</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ica3a110a511747d3873bd7590470fdcb_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzItMy0xLTEtNTEwNDQy_5aa72610-2c8d-41a7-8980-2c27bfa6f7e5">314</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ie7c20446cb4d457d860723e95bf73908_D20220101-20221231" decimals="2" name="tef:SensitivityAnalysisIncreaseInExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzMtMS0xLTEtNTEwNDQy_8ae22949-f5be-4b36-b045-86165bfece95">10</ix:nonFraction>%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7c20446cb4d457d860723e95bf73908_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzMtMi0xLTEtNTEwNDQy_9cb0a2bf-2042-4a4c-a46b-a721a1df5a6b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie7c20446cb4d457d860723e95bf73908_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzMtMy0xLTEtNTEwNDQy_c4d0d688-ea95-45df-80ca-7af26704714a">48</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies vs EUR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ifb69fbb376c04fcca43087357d877f98_D20220101-20221231" decimals="2" name="tef:SensitivityAnalysisIncreaseInExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzQtMS0xLTEtNTEwNDQy_25cca008-3612-452f-8fa2-dfcb2eaa50d1">10</ix:nonFraction>%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifb69fbb376c04fcca43087357d877f98_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzQtMi0xLTEtNTEwNDQy_58351d72-abd2-4f55-b9e0-c2f52bec6b6d">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifb69fbb376c04fcca43087357d877f98_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzQtMy0xLTEtNTEwNDQy_02ac5a2f-f8f5-46fe-bd66-8d7311cf126b">56</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin American currencies vs USD</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic235aee57b1a4281bd76d3b8df53b41e_D20220101-20221231" decimals="2" name="tef:SensitivityAnalysisIncreaseInExchangeRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzUtMS0xLTEtNTEwNDQy_e3706c38-5233-49ae-8a2c-60891b223b7c">10</ix:nonFraction>%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic235aee57b1a4281bd76d3b8df53b41e_D20220101-20221231" decimals="-6" sign="-" name="tef:SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzUtMi0xLTEtNTEwNDQy_6b52322b-0732-4f5a-bcc9-2e298be42e77">12</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic235aee57b1a4281bd76d3b8df53b41e_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzUtMy0xLTEtNTEwNDQy_1f193410-68c0-4ffb-8b34-250c4dfd1616">210</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">All currencies vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="number" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo4ZWEwMjRlOWQ2ZTY0M2MzOGUwZTMyNmJkMTVhNDdjNy90YWJsZXJhbmdlOjhlYTAyNGU5ZDZlNjQzYzM4ZTBlMzI2YmQxNWE0N2M3XzYtMi0xLTEtNTEwNDQy_5484352b-eb14-45ab-8476-d20e6b5f5654">11</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ica3a110a511747d3873bd7590470fdcb_D20220101-20221231" decimals="-6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzg4ODU_6949f92b-3003-4d60-bf5e-21845f03b8c4">87</ix:nonFraction> million euros (<ix:nonFraction unitRef="veb" contextRef="ib4cbda8d49f84362a99f42a6c07ba444_I20211231" decimals="-6" name="ifrs-full:HedgingInstrumentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzg5MDM_233a9bcc-ba06-40b0-b2b3-7ec334163d8c">240</ix:nonFraction> million Venezuelan digital bolivars equivalent to <ix:nonFraction unitRef="eur" contextRef="ib4cbda8d49f84362a99f42a6c07ba444_I20211231" decimals="-6" name="ifrs-full:HedgingInstrumentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzg5NDg_56b2ddb1-e43d-4dd4-947d-d282cf584258">13</ix:nonFraction> million euros at December&#160;31, 2021). The net monetary position exposure in 2022 has been an asset position, which led to a higher financial expense of <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseInIncomeDueToEffectOfInflationCorrection" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzkwNzY_c4523e15-c1d2-41d0-bf50-c222c0cff1bc">101</ix:nonFraction> million euros due to the effect of the monetary correction for inflation during the year (<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseInIncomeDueToEffectOfInflationCorrection" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzkxNjk_51c2f6e9-217a-464d-93c7-fe880cfd306b">24</ix:nonFraction> million euros of income in 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interest rate risk</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to meet this target, Telef&#243;nica mainly carried out the following:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;a) The interest rate of borrowings tied to a variable interest rate was set. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;b) Interest rate fluctuations of debt tied to a variable interest rate were reduced. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;c) Fixed rate debt instruments were converted into variable market rate debt instruments. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s financial expenses are exposed to changes in interest rates. In 2022 the Euro, Brazilian Real, British Pound, American Dollar and Chilean peso were the short-term rates that accounted for most of the exposure. In nominal terms, at December&#160;31, 2022, <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="3" name="tef:PercentageOfNetDebtPlusCommitmentsUnderFixedInterestRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzEwMzk2_624d6965-c058-44a4-9927-c1e51b33191a">88.3</ix:nonFraction>% of Telef&#243;nica&#8217;s net financial debt was pegged to fixed interest rates for a period greater than one year, compared to </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="number" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="3" name="tef:PercentageOfNetDebtPlusCommitmentsUnderFixedInterestRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzEwNTM0_bef0cf29-4ca4-4667-aa0e-051059e826d9">95.4</ix:nonFraction>%</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2021. Of the remaining <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="3" name="tef:PercentageOfNetDebtAtFloatingRatesOrFixedRatesLessThanOneYear" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzEwNTYx_8ae209f1-70c5-4080-b01f-e7097abaf0fd">11.7</ix:nonFraction>% (net debt at floating rates or at fixed rates maturing within one year), no debt had interest rates bounded in a period over one year, the same as on December&#160;31, 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 increase in interest rates during the year has led to a decrease in the market value of these liabilities. However, this decrease was nearly completely offset by the decrease in the market value of the hedges on these positions. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-84</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ifdb4755b5e6a4a31a2f78362b5b184cf" continuedAt="i6f6398af918c43d49d1eec8812d3dae8"><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Net financial expenses amounted to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:FinanceIncomeCost" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzExMjg5_1b46f8ed-3bbe-490c-96ae-97d7c3dcdce2">1,313</ix:nonFraction> million euros in 2022, down  <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinFinanceIncomeCostfromPriorYear" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzExMzIw_60a24e35-9195-4c63-bc06-1f7a0a4c6202">51</ix:nonFraction> million euros compared to 2021, mainly due to extraordinary income related to the payment by the Spanish administration to the Group of delayed interest in connection with tax litigation in Spain, which more than offset the increase in the expenses due to the increase in interest rates and a higher level of debt denominated in Brazilian reais. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To illustrate the sensitivity of the Company's net financial expense to fluctuations in short-term interest rates, on one hand a <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="INF" name="tef:SensitivityAnalysisPercentageIncreaseInInterestRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzYwNDczMTQwMTExNTQ_8a79069c-6332-4db8-8eaf-972e7e84a6fb">100</ix:nonFraction> basis point increase in interest rates in all currencies in which Telef&#243;nica has financial positions at December&#160;31, 2022, and a <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="INF" name="tef:SensitivityAnalysisPercentageDecreaseInInterestRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzYwNDczMTQwMTExNDY_ae172f8d-04f8-48eb-8740-8c952b4ff995">100</ix:nonFraction> 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To calculate the sensitivity of equity to fluctuations in interest rates, on one hand a <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="INF" name="tef:SensitivityAnalysisPercentageIncreaseInInterestRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2NDkyNjc0OTk5MjQ_9d71121f-cf18-4484-bf2c-cb8063489cd6">100</ix:nonFraction> basis point increase in interest rates in all currencies and in all periods on the yield curve in which Telef&#243;nica has financial positions at December&#160;31, 2022, and a <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="INF" name="tef:SensitivityAnalysisPercentageDecreaseInInterestRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzYwNDczMTQwMTEyMDM_1cf86e12-0d32-4772-ba2c-565e278fc67b">100</ix:nonFraction> 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. </span></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i95979fec53784860886b030c0a055045"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:56.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.733%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in basis points (bp)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated equity</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+<ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="INF" name="tef:SensitivityAnalysisPercentageIncreaseInInterestRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTozYmQwYWRkNWNiNGU0NmM1ODA1YjUwMTVmZjdiYzZhMy90YWJsZXJhbmdlOjNiZDBhZGQ1Y2I0ZTQ2YzU4MDViNTAxNWZmN2JjNmEzXzItMC0xLTEtNTEwNDQyL3RleHRyZWdpb246YTU4YzNlMDI5NDZmNGE3NGFlMjg0NGZjMTA1ZTc2YjlfNg_7fff2a07-3c80-42ef-a7e2-531a8274de2e">100</ix:nonFraction>bp</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisDecreaseInNetIncomeDueToIncreaseInInterestRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTozYmQwYWRkNWNiNGU0NmM1ODA1YjUwMTVmZjdiYzZhMy90YWJsZXJhbmdlOjNiZDBhZGQ1Y2I0ZTQ2YzU4MDViNTAxNWZmN2JjNmEzXzItMS0xLTEtNTEwNDQy_379a8ef3-8401-4644-a14c-1a48df201626">34</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:SensitivityAnalysisDecreaseInEquityDueToDecreaseInInterestRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTozYmQwYWRkNWNiNGU0NmM1ODA1YjUwMTVmZjdiYzZhMy90YWJsZXJhbmdlOjNiZDBhZGQ1Y2I0ZTQ2YzU4MDViNTAxNWZmN2JjNmEzXzItMi0xLTEtNTEwNDQy_8262cf2b-8297-422e-8abd-ef8f3c60a6b4">61</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;-<ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="INF" name="tef:SensitivityAnalysisPercentageDecreaseInInterestRate" scale="-4" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTozYmQwYWRkNWNiNGU0NmM1ODA1YjUwMTVmZjdiYzZhMy90YWJsZXJhbmdlOjNiZDBhZGQ1Y2I0ZTQ2YzU4MDViNTAxNWZmN2JjNmEzXzMtMC0xLTEtNTEwNDQyL3RleHRyZWdpb246YjE5ZDM0OWJhNmNiNDkxZTlkYzM0YTQwNzk2MjI3ZjBfNQ_c07beb81-e651-4628-82cb-282e8765e759">100</ix:nonFraction>bp</span></div></td><td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:SensitivityAnalysisIncreaseInNetIncomeDueToDecreaseInInterestRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTozYmQwYWRkNWNiNGU0NmM1ODA1YjUwMTVmZjdiYzZhMy90YWJsZXJhbmdlOjNiZDBhZGQ1Y2I0ZTQ2YzU4MDViNTAxNWZmN2JjNmEzXzMtMS0xLTEtNTEwNDQy_8fcee78b-d535-4866-8bd8-0cf2d8ab71c6">34</ix:nonFraction>&#160;</span></td><td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:SensitivityAnalysisIncreaseInEquityDueToIncreaseInInterestRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTozYmQwYWRkNWNiNGU0NmM1ODA1YjUwMTVmZjdiYzZhMy90YWJsZXJhbmdlOjNiZDBhZGQ1Y2I0ZTQ2YzU4MDViNTAxNWZmN2JjNmEzXzMtMi0xLTEtNTEwNDQy_44a4c91e-fc13-4116-9bc8-c485018b7761">61</ix:nonFraction>)</span></td><td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Share price risk</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group is exposed to changes in the value of equity investments, of derivatives associated with such investments, of share-based payments plans, of treasury shares and of equity derivatives over treasury shares. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to the share-based payments plans (see Note 27), the shares to be delivered to employees under such plan may be either Telef&#243;nica 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 Telef&#243;nica as a result of the higher number of shares delivered under such plan outstanding. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2018, the General Shareholder&#8217;s Meeting approved a Long-Term Incentive Plan allocated to Senior Executive Officers of the Telef&#243;nica Group consisting of the delivery of shares of Telef&#243;nica, 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. The first (2018) and the second (2019) of the three cycles matured on December 31, 2020 and on December 31, 2021 with a result of a delivery of shares to its participants in 2021 and in 2022, respectively.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021, the General Shareholder&#8217;s Meeting approved a new Long-Term Incentive Plan allocated to Senior Executive Officers of the Telef&#243;nica Group consisting of the delivery of shares of Telef&#243;nica, S.A. This plan has a total duration of five years and is divided into three mutually exclusive cycles of three years each. In January 2021 and in January 2022 two cycles have commenced and the last one will start in January 2023 (see Note 27). </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Finally, the 2022 Shareholder&#8217;s Meeting approved a Global Employee Incentive Share Purchase Plan for shares of Telef&#243;nica, S.A. for the Employees of the Telef&#243;nica Group, which is expected to deliver shares to its participants in 2024 (see Note 27</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:107%">).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">  </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To reduce the risk associated with variations in share price under these plans, Telef&#243;nica could acquire instruments that hedge the risk profile of some of these plans. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the Group may use part of the treasury shares of Telef&#243;nica, S.A. held at December 31, 2022 to cover shares deliverable under the outstanding Plans. The net asset value of the treasury shares could increase or decrease depending on variations in Telef&#243;nica, S.A.&#8217;s share price. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-85</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i6f6398af918c43d49d1eec8812d3dae8" continuedAt="i384ac1c4d1ef4b738cbc81f2f2f50820"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Liquidity risk</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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: </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">The Telef&#243;nica Group&#8217;s average maturity of net financial debt is intended to stay above <ix:nonNumeric contextRef="if41b5811cadc4990b07893ab46627f65_D20220101-20221231" name="tef:AverageMaturityOfNetFinancialDebt" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE1NzM1_911a0118-fc9d-4367-b185-4f25d084d1f0">six years</ix:nonNumeric> 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. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">The Telef&#243;nica Group must be able to pay all commitments over the next <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:PeriodtoPayAllCommitments" format="ixt-sec:durmonth" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2MzA2_de7ce88e-f968-4777-a688-b8b0f576276a">12</ix:nonNumeric> months without accessing new borrowing or tapping the capital markets (drawing upon firm credit lines arranged with banks), assuming budget projections are met. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, the average maturity of net financial debt (<ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:HedgingInstrumentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2NTIy_532bb790-dab1-4d55-8a6f-6fef440701d7">26,687</ix:nonFraction> million euros) was <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:AverageMaturityOfNetFinancialDebt" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2NTQ0_c5e478a1-187b-4068-b63e-036da1241374">13.11</ix:nonNumeric> years (including undrawn committed credit facilities).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, financial liabilities (Note 18) and lease liabilities (Note 20) scheduled to mature in 2023 amounted to <ix:nonFraction unitRef="eur" contextRef="iea284d63d6674ee5815ba0aea82553a0_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2NzEx_d8c0c9a5-ea42-4f9b-b714-4fc37889e11a">4,020</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2NzE4_6b622eaf-9c17-4396-ae77-ad88493045c1">2,020</ix:nonFraction></span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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 2022, and c) undrawn credit facilities arranged with banks whose original maturity is over one year (an aggregate of <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:HedgingInstrumentNonCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE3MDUz_d283bb52-1361-4251-96de-2c7a52c6f17d">11,434</ix:nonFraction> million euros at </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2022</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), providing flexibility to the Telef&#243;nica Group with regard to accessing capital or credit markets in the next two years. For a further description of the Telef&#243;nica Group&#8217;s liquidity and capital resources in 2022, see Note 18 and Appendix V.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Country risk</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group managed or mitigated country risk by pursuing two lines of action (in addition to its normal business practices): </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">Partly matching assets to liabilities (those not guaranteed by the Parent company) in the Telef&#243;nica Group&#8217;s Latin American companies such that any potential asset impairment would be accompanied by a reduction in liabilities; and </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">Repatriating funds generated in Latin America that are not required for the pursuit of new, profitable business development opportunities in the region. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the first point, at December&#160;31, 2022, the Telef&#243;nica Group&#8217;s Latin American companies had net financial debt not guaranteed by the Parent company of <ix:nonFraction unitRef="eur" contextRef="ib25b6e8b087f4ecdad51a44ce47c4680_I20221231" decimals="-6" name="ifrs-full:HedgingInstrumentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE4MDEz_bddb159a-f4a6-42b3-a715-e8e1073e4bb5">2,462</ix:nonFraction> million euros, which represents <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="3" name="tef:PercentageOfNetFinancialDebtHeld" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE4MDQ4_7349b089-7f63-4160-a32b-7c793c275ddc">9.2</ix:nonFraction>% 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). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the net repatriation of funds to Spain, </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="i20d26fc94f2f49c18045e0f2ec8d91f6_D20220101-20221231" decimals="-6" name="tef:NetRepatriationOfFunds" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE4MjU5_fb3792f1-0d40-4d76-aabd-9d54552de700">693</ix:nonFraction> million euros from Latin America companies have been received in 2022, of which <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:NetRepatriationOfFundsDividends" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE4MzQw_eb811e2e-6d7b-4370-97d7-1a40d6728769">652</ix:nonFraction> million euros was in the form of dividends. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Credit risk</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group trades in derivatives with creditworthy counterparties. Therefore, Telef&#243;nica, S.A. generally trades with credit entities whose &#8220;senior debt&#8221; ratings are of at least &#8220;A-&#8221; or in case of Spanish entities in line with the credit rating of the Kingdom of Spain. In Spain, where most of the Group&#8217;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 Telef&#243;nica, 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net CVA (CVA+DVA) or Credit Valuation Adjustment is the method used to measure credit risk for both counterparties and Telef&#243;nica 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 Telef&#243;nica and its counterparties. The simplified formula to calculate CVA is Expected Exposure times Probability of Default times Loss Given Default (LGD). In order to calculate these variables standard market practices are used. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-86</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i384ac1c4d1ef4b738cbc81f2f2f50820" continuedAt="i468963e673374ed6969bdfa0302601fc"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time, and in order to address the credit risk, Telef&#243;nica considers the use of CDS, novations, derivatives with break clauses and signing CSA's under certain conditions. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For other subsidiaries, particularly those in Latin America, assuming a stable sovereign rating provides a ceiling which is below &#8220;A&#8221;, trades are with local financial entities whose rating by local standards is considered to be of high creditworthiness. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Meanwhile, with credit risk arising from cash and cash equivalents, the Telef&#243;nica 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). Additionally, for Treasury surpluses managed at Telef&#243;nica S.A, a criteria based on CDs has been added, similar to that used for the selection of counterparties to operate with derivatives, for the selection of counterparties for the placement of those surpluses. </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s maximum exposure to credit risk is initially represented by the carrying amounts of the financial assets and the guarantees given by the Telef&#243;nica Group. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Several Telef&#243;nica 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&#160;31, 2022, these guarantees amounted to approximately <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzIyNDMw_e2b231d2-dcd6-4dea-a96a-0363ef4fb949">6,657</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzIyNDQ4_80044b5b-eede-427e-bcea-58c2c601d538">6,192</ix:nonFraction> million euros at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital management</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s corporate finance department takes into consideration several factors for the evaluation of the Telef&#243;nica&#8217;s capital structure, with the aim of maintaining the solvency and creating value to the shareholders. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group and its different areas. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interest rate benchmark reform and associated risks</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During 2020 a fundamental reform of major interest rate benchmarks was launched globally, including the replacement of some interbank offered rates (IBORs) with alternative nearly risk-free rates (referred to as &#8216;IBOR reform&#8217;). 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.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-87</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i468963e673374ed6969bdfa0302601fc" continuedAt="i8cc7148ff9774160bc98e3b68291eb04"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During 2022, the transition has been made to the new reference indices affected as of December 31, 2022, except for the USD Libor, whose transition will be made in June 2023. In the 2022 financial year, thanks to the decisions agreed in 2021 to manage the changes in the GBP Libor and CHF Libor, there have been no impacts from those changes. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">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. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjQ2_7b3d6e1e-8177-4a3a-8608-f570fea07ab0" continuedAt="id381d14a7e994493a0ed76d86af08932" escape="true">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:</ix:nonNumeric></span></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="id381d14a7e994493a0ed76d86af08932"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:56.502%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.098%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.100%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross notional in original currency (in millions)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate index/Tenor</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 3M</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="iea639da78b6a4ad5a8e538e8ca88ad1c_I20221231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo5YTM1NzUzODA2ODk0N2JlODBkZGNkZDE3NGU5Y2U3MS90YWJsZXJhbmdlOjlhMzU3NTM4MDY4OTQ3YmU4MGRkY2RkMTc0ZTljZTcxXzItMS0xLTEtNTEwNDQy_ef741244-d952-4343-acc7-e3a6779f0ebc">32,947</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="if8fdacbf9ecc44d08ce80c3b79f10612_I20211231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo5YTM1NzUzODA2ODk0N2JlODBkZGNkZDE3NGU5Y2U3MS90YWJsZXJhbmdlOjlhMzU3NTM4MDY4OTQ3YmU4MGRkY2RkMTc0ZTljZTcxXzItMi0xLTEtNTEwNDQy_f769b735-d6b0-47ba-bd69-34d7eeb70f20">35,140</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 1M</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i3b38fab5cdd448e2940d7da095a667df_I20221231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo5YTM1NzUzODA2ODk0N2JlODBkZGNkZDE3NGU5Y2U3MS90YWJsZXJhbmdlOjlhMzU3NTM4MDY4OTQ3YmU4MGRkY2RkMTc0ZTljZTcxXzUtMS0xLTEtNTEwNDQy_1439d5ef-f975-4e58-b6c5-cc6ad14f754e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i03ff4ba719c14c04926dc86f287b1441_I20211231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo5YTM1NzUzODA2ODk0N2JlODBkZGNkZDE3NGU5Y2U3MS90YWJsZXJhbmdlOjlhMzU3NTM4MDY4OTQ3YmU4MGRkY2RkMTc0ZTljZTcxXzUtMi0xLTEtNTEwNDQy_59cd830f-fa99-4e52-ab5e-f2aaa5d57ed2">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 6M</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="if3d6696b01d842bea6f34a9ac73cfa57_I20221231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo5YTM1NzUzODA2ODk0N2JlODBkZGNkZDE3NGU5Y2U3MS90YWJsZXJhbmdlOjlhMzU3NTM4MDY4OTQ3YmU4MGRkY2RkMTc0ZTljZTcxXzYtMS0xLTEtNTEwNDQy_5667ee86-5ccb-4342-9de7-fa6a7a87661a">140</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i51392e4d0ceb47818b6175cc58ed59cb_I20211231" decimals="-6" name="ifrs-full:NominalAmountOfHedgingInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo5YTM1NzUzODA2ODk0N2JlODBkZGNkZDE3NGU5Y2U3MS90YWJsZXJhbmdlOjlhMzU3NTM4MDY4OTQ3YmU4MGRkY2RkMTc0ZTljZTcxXzYtMi0xLTEtNTEwNDQy_6388b6d3-c204-47eb-87d2-6c645766f6b5">140</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Another relevant aspect of the reform is the need to incorporate substitute indexes (known as fallbacks) of the reference rates used into the contracts. In order to incorporate these substitute indexes into the contracts, The Group has decided not to adhere to the ISDA Protocol and has negotiated bilateral contracts with each affected counterparty during 2022 and 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Group will continue to apply the amendments of IFRS 9 until the uncertainty arising from the benchmark interest rate reforms with respect to the timing and amount of the underlying cash-flows to which the Group is exposed ends.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In relation to the benchmark interest rate reform, IFRS regulations have incorporated information requirements on the exposure of entities to benchmark interest rates in the process of transition at the close of financial year 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">At December&#160;31, 2022 the book value of assets referenced to USD Libor rates amounts to <ix:nonFraction unitRef="eur" contextRef="iea639da78b6a4ad5a8e538e8ca88ad1c_I20221231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzI2MzYy_3078b158-4890-41fa-bfd2-36cc8180eef6">516</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="if8fdacbf9ecc44d08ce80c3b79f10612_I20211231" decimals="-6" name="ifrs-full:FinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzU0OTc1NTgxOTM5ODc_ffaaa163-1b00-47c7-a0b9-6ec3ab6ea0f4">333</ix:nonFraction> million euros at December 31, 2021) and the book value of financial liabilities including lease liabilities referenced to USD Libor rates amounts to <ix:nonFraction unitRef="eur" contextRef="iea639da78b6a4ad5a8e538e8ca88ad1c_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzI2NDky_26e381f1-f585-4413-8846-c802d3d5e70a">920</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="if8fdacbf9ecc44d08ce80c3b79f10612_I20211231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzU0OTc1NTgxOTQzMDU_fe2c4a32-e40e-4ac9-9470-1c02f2a95b73">661</ix:nonFraction> million euros at December 31, 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Derivatives policy</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the nominal value of outstanding derivatives with external counterparties amounted to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzI2NjIy_afa2b2bc-d861-44df-9e97-71c2334b14e3">83,706</ix:nonFraction> million euros equivalent, a <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" sign="-" name="tef:PercentageIncreaseDecreaseInOutstandingDerivatives" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzI2NjUz_289608e0-97ab-4d61-a151-c99058d1774a">1</ix:nonFraction>% decrease from December&#160;31, 2021 (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzI2Njc0_62a26a11-a9ef-4521-84da-24e0c2fc3a6d">84,794</ix:nonFraction> 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main principles in the management of derivatives are detailed below: </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1) Derivatives based on a clearly identified hedged items. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s derivatives policy emphasizes the following points: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Acceptable underlyings include assets and liabilities, profits, revenues and cash flows in either a company&#8217;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&amp;E purchases, future debt issues, commercial paper programs, etc.). The acceptability of an underlying asset in the above cases </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-88</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i8cc7148ff9774160bc98e3b68291eb04" continuedAt="i25098623bc7f4c23ba1d15a5a442974d"><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2) Matching of the hedged item to one side of the derivative. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This matching basically applies to foreign currency debt and derivatives hedging foreign currency payments by Telef&#243;nica 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 Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3) Matching the company contracting the derivative and the company that owns the hedged item. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 (Telef&#243;nica, S.A. and Telef&#243;nica Latinoam&#233;rica 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 the chance of 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 Telef&#243;nica Group companies as well as those of the banks). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4) Ability to measure the derivative&#8217;s fair value using the valuation systems available to the Telef&#243;nica Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica uses several tools to evaluate and manage the risk involved in derivatives and debt. Among these tools are the Calypso system, extensively used in various financial institutions, and 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5) Sale of options only when there is an underlying exposure. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica considers the sale of options when: i) there is an underlying exposure (on the consolidated statement of financial position or associated with a highly probable cash outflow) that would offset the potential loss for the year if the counterparty exercised the option. This exposure does not have to be treated as a purchased option, but rather it can be another type of hedged item (in these cases, hedge accounting does not apply since this hedging instrument does not meet the criteria required by accounting standards to treat the sale of options as hedging instruments), or ii) the option is part of a structure in which another derivative offsets any loss. The sale of options is also permitted in option structures where, at the moment they are taken out, the net premium is either positive or zero. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For instance, it would be possible to sell short-term options on interest rate swaps that entitle the counterparty to receive a certain fixed interest rate, below the level prevailing at the time the option was sold. This would mean that if rates fell and the counterparty exercised its option, the Group would swap part of its debt from floating rate to a lower fixed rate, having received a premium. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-89</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i25098623bc7f4c23ba1d15a5a442974d" continuedAt="i2eee9e7c8af94de89a38e28ae3881a85"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6) Hedge accounting. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks that may qualify for hedge accounting are as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in market interest rates (either money-market rates, credit spreads or both) that affect the value of the underlying asset or the measurement of the cash flows. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in exchange rates that change the value of the underlying asset in the company&#8217;s functional currency and affect the measurement of the cash flow in the functional currency. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in the valuation of any financial asset, particularly shares of companies included in the portfolio of &#8220;Equity instruments&#8221;. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in the price of commodities related to contracts that the Group has with third parties. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the underlying: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Hedges can cover all or part of the value of the underlying. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The risk to be hedged can be for the whole period of the transaction or for only part of the period. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The underlying may be a highly probable future transaction, or a contractual underlying (loan, foreign currency payment, investment, financial asset, etc.) or a combination of both that defines an underlying with a longer term. </span></div><div style="margin-bottom:13.4pt;margin-top:13.4pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main coverage instruments used are: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Forwards / NDF: they are used mainly for exchange rate hedges related to commercial positions in foreign currency. They can also be used to hedge financing in foreign currency and net investment hedge in foreign currency. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Exchange Rate Options: in some cases, this type of instruments can be used linked to future CapEx and OpEx operations and investments and divestments in foreign currency. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Spots: for purchases and sales of currencies that are made same day value or two days&#8217; value. Generally used for operational needs or for divestments of operations in foreign currency. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Currency swaps: this type of transaction is generally executed to hedge bonds issuance or loans issued in foreign currency or net investment hedge. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Interest Swaps / Interest Rate Options: these instruments are used to manage the interest rate of the debt portfolio. Their use of them is ruled by the Financial Expenses Budget with the objective of its fulfillment. Both the volume to be contracted and the maturity of these products are determined by the underlying assets to be hedged. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is possible that in several markets the maturity, as well as the low liquidity, does not allow to contract a "perfect&#8221; hedge, but this circumstance will have to be analyzed case by case. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">CDS: in order to manage the counterparty credit risk or CVA / DVA, CDS operations can be arranged to mitigate this risk. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Derivatives of Commodities associated to: </span></div><div style="padding-left:108pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#9642;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:9.96pt">Price risk hedge (mainly Electricity) associated with the Group's own contracts.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:108pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9642;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">Supporting the business lines that may need it and always hedging the commercial risks of the signed contracts. They would be settled by differences, this is, in a non-deliverable format. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Equity Derivatives: these are derivatives that address strategic decisions or hedging needs, either to hedge future investments or hedge existing risks. They protect Telef&#243;nica from the potential appreciation or depreciation in the price of the shares they hold as underlying. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-90</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i2eee9e7c8af94de89a38e28ae3881a85" continuedAt="ib67556ed7eea47cb94c24d7d7cea7d38"><div style="margin-bottom:13.4pt;margin-top:13.4pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Between the hedged item and the hedging instrument there is an economic relationship, this is, in general terms they move in opposite directions due to the same risk or risk covered. In other words, there must be an expectation that the value of the hedging instrument and the value of the hedged item will change systematically in opposite directions in response to the movements of one of the following elements: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the same underlying item; or </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Underlying items that are economically related in such sense that they respond similarly to the risk that is being hedged. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depending on the complexity of the hedge relationship and the way in which the hedge has been structured, a quantitative or qualitative analysis will have to be performed to demonstrate that there is an economic relationship between the hedged item and the hedging instrument. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This may on occasion mean that the hedging instruments have longer terms than the related contractual underlying. This happens when the Telef&#243;nica Group enters into long-term swaps, caps or collars to protect the Group against interest rate increases that may raise the financial expense of its promissory notes, commercial paper and some floating rate loans which mature earlier than their hedges. These floating rate financing programs are highly likely to be renewed and Telef&#243;nica commits to this by defining the underlying asset in a more general way as a floating rate financing program whose term coincides with the maturity of the hedge. In those cases in which the underlying assets representing the risk hedged are canceled or refinanced early, and if there is an open risk with similar characteristics as the underlying asset that was canceled or refinanced early, either because there is new financing or because there is an underlying asset with similar characteristics and risk profile, the hedge may remain in force with the derivatives assigned thereto and the risk will be subject to the hedge arranged in the aforementioned refinancing. When either of these situations occurs, the effectiveness of the hedge will be reviewed taking into account the new situation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There can be <ix:nonFraction unitRef="type_of_hedge" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="tef:NumberOfTypesOfHedges" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzM4NDcw_6bc2b7e9-ac1e-48bb-83ce-17d1bfe82633">three</ix:nonFraction> types of hedges: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Fair value hedges. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Cash flow hedges. Such hedges can be set at any value of the risk to be hedged (interest rates, exchange rates, etc.) or for a defined range (interest rates between <ix:nonFraction unitRef="number" contextRef="i48a2fd2eba354b39890fd32fb31987bd_I20221231" decimals="2" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzM4Njc3_5ed83f75-dd68-4d07-b156-4ffc6ab77fda">2</ix:nonFraction>% and <ix:nonFraction unitRef="number" contextRef="i0aebca2c90bd4433b9c5a3bd37d59987_I20221231" decimals="2" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzM4Njg0_d189ce2c-0f1e-4999-8cdb-465bdad73110">4</ix:nonFraction>%, above <ix:nonFraction unitRef="number" contextRef="ia047f33cb3a54a62902eda517a33ddc7_I20221231" decimals="2" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzM4Njk0_9b3e9ffb-feea-498f-a8fc-bdb63ccea5fd">4</ix:nonFraction>%, etc.). In this last case, the hedging instrument used is options. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Hedges of net investment in consolidated foreign subsidiaries. Generally, such hedges are arranged by Telef&#243;nica S.A. and other Telef&#243;nica holding companies. Wherever possible, these hedges are implemented through real debt in foreign currency. Often, however, this is not always possible as many Latin American currencies are non-convertible, making it impossible for non-resident companies to issue local currency debt. It may also be that, due to the debt market deepness, the debt in the currency concerned is not enough to accommodate the required hedge, or that an acquisition is made in cash with no need for market financing. In these circumstances derivatives either forwards or cross-currency swaps are mainly used to hedge the net investment. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When using options, forwards or cross-currency swaps as hedging instruments, the exclusion of the time value of the option, the element at maturity of the forward and the currency spread of the cross-currency swap of the hedging relationship are evaluated on a case by case basis, in order to be treated as hedge costs. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Hedges can comprise a combination of different derivatives. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management of accounting hedges is not static, and the hedging relationship may change before maturity. The interruption of the hedge accounting is possible within the framework of the management of financial risks and described in the internal document of &#8220;financial risks management and hedging strategy under IFRS 9&#8221;. To gauge the efficiency of transactions defined as accounting hedges, the Group analyzes the extent to which the changes in the fair value or in the cash flows attributable to the hedged item would offset the changes in fair value or cash flows attributable to the hedged risk using a linear regression model prospectively. To evaluate the effectiveness of hedges, under IFRS 9, there is no numerical range under which it is accepted that a hedge is effective and hence the hedge accounting standards are applicable. Therefore, Telef&#243;nica considers that if there is an economic relationship, not dominated by changes in credit risk and if the appropriate hedging rationale has been designated, the requirements for effectiveness are met. However, at the moment when ineffectiveness arises, Telef&#243;nica will evaluate whether there is still an economic relationship or whether the designated hedging rationale is appropriate. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-91</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib67556ed7eea47cb94c24d7d7cea7d38" continuedAt="i57c1d768dc374d18b7471d44a60d1e3e"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The possible sources of ineffectiveness that Telef&#243;nica can have when designing a hedging relationship and that will be considered when establishing the hedging rationale are: </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The hedging instrument and the hedged item have different maturity dates, initial dates, contract dates, repricing dates, etc. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The hedging instrument starts with initial value and a financing effect is produced. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">When the underlying items have different sensitivity and are not homogeneous, for example EURIBOR 3M versus EURIBOR 6M. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main guiding principles for risk management are laid down by Telef&#243;nica&#8217;s Finance Department and implemented by the company financial officers (who are responsible for balancing the interests of each company and those of the Telef&#243;nica Group). The Corporate Finance Department may allow exceptions to this policy where these can be justified, normally when the market is too thin for the volume of transactions required or on clearly limited and small risks. New companies joining the Telef&#243;nica Group as a result of mergers or acquisitions may also need time to adapt. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7) Cancellation of derivatives. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When a derivative transaction is canceled, the company may: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Cancel the derivative and pay its market value. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Take the opposite position which cancels out the variability thereof, if cancellation costs are high or if it is recommended for operating or business reasons. </span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Breakdown of financial results</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfFinancialResultsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjQ4_06f4ade2-f7a2-4e03-8354-cb4bb1ff2c96" escape="true"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the financial results recognized in 2022, 2021 and 2020 is as follows: </span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.181%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.999%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromInterest" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEtMS0xLTEtNTEwNDQy_939ccae0-b028-4096-a64e-8b57d5886310">384</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromInterest" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEtMi0xLTEtNTEwNDQy_b8080f9d-cd49-4837-8fc9-0f562c1ccb19">191</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromDividends" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzItMS0xLTEtNTEwNDQy_77acf0a0-b473-4d66-b102-fb1cdc28ed86">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromDividends" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzItMi0xLTEtNTEwNDQy_e13eb251-eb3e-4199-9e85-25a71794180d">14</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueFromDividends" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzItMy0xLTEtNTEwNDQy_5dffdc38-8e04-43fc-8486-8f8364d6afa1">12</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:OtherRevenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzMtMS0xLTEtNTEwNDQy_156a9619-2f4f-4d74-a74f-101a03e6ac76">894</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:OtherRevenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzMtMi0xLTEtNTEwNDQy_1556200e-51ab-4f94-8ba6-37f0140c130b">174</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:OtherRevenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzMtMy0xLTEtNTEwNDQy_a1993bba-335a-4990-86fd-bf0f32cbf924">159</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzQtMS0xLTEtNTEwNDQy_8772fa0e-deaf-4f2b-9a76-aa2844c89678">1,303</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzQtMi0xLTEtNTEwNDQy_9a7aa6f2-d432-4dfc-9bdb-6df886873e1f">379</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzQtMy0xLTEtNTEwNDQy_df73d092-f569-4bae-82f7-586c3ba246e3">356</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in fair value of asset derivatives at fair value through profit or loss</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzUtMS0xLTEtNTEwNDQy_d4fd56e5-13dd-4888-90c8-fde342fa4abd">377</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzUtMi0xLTEtNTEwNDQy_1c6df25d-238d-4a3a-bd6e-c04557726e7f">132</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzUtMy0xLTEtNTEwNDQy_fa1f9e68-02ae-4d2b-aa8f-a274c9027072">255</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in fair value of liability derivatives at fair value through profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzYtMS0xLTEtNTEwNDQy_38e6ea54-aead-4e2a-89f1-4f060e600ad2">861</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzYtMi0xLTEtNTEwNDQy_77a6cf0e-dfc1-42e8-a594-efc2c82008de">24</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzYtMy0xLTEtNTEwNDQy_cbf451ea-776a-4228-a232-b646e4fc92c1">507</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value of debt instruments and other assets at fair value to profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="tef:Gainslossesondebtinstrumentsandotherassetsatfairvaluethroughprofitorloss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzctMS0xLTEtNTEwNDQy_e2a305fd-d798-43ee-9445-2cfc91a05b96">8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="tef:Gainslossesondebtinstrumentsandotherassetsatfairvaluethroughprofitorloss" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzctMi0xLTEtNTEwNDQy_001ab739-5b61-4c78-bf7a-ec24643bc92c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" sign="-" name="tef:Gainslossesondebtinstrumentsandotherassetsatfairvaluethroughprofitorloss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzctMy0xLTEtNTEwNDQy_c36caad6-d04d-4a7c-b408-bc76331ed4d9">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer from equity of results of cash flow hedges - future cash flows that are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="tef:TransferFromEquityToProfitAndLossFromCashFlowHedgesNotExpectedtoHappen" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzgtMS0xLTEtNTEwNDQy_ab77fae1-8a8b-4033-9136-0a3dd59d28b8">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="tef:TransferFromEquityToProfitAndLossFromCashFlowHedgesNotExpectedtoHappen" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzgtMi0xLTEtNTEwNDQy_03bf481e-45a6-479b-8463-851b73e5115f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="tef:TransferFromEquityToProfitAndLossFromCashFlowHedgesNotExpectedtoHappen" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzgtMy0xLTEtNTEwNDQy_901fb293-b266-44ee-b042-235559cbb5f4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss)/Gain on fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainsLossesOnHedgingInstrument" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEwLTItMS0xLTUxMDQ0Mg_ebe22a3b-8981-4301-9853-7c13a155b68a">517</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:GainsLossesOnHedgingInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEwLTMtMS0xLTUxMDQ0Mg_9043fb8f-b4f4-4996-8fbd-91c1061dd49f">563</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain/(loss) on adjustment to items hedged by fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="tef:GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzExLTEtMS0xLTUxMDQ0Mg_2037fa8e-fc95-4c30-aec8-a6b52ddd1afe">1,763</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="tef:GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzExLTItMS0xLTUxMDQ0Mg_d425b74e-63ed-4bee-b570-e4a292b44169">527</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" sign="-" name="tef:GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzExLTMtMS0xLTUxMDQ0Mg_f03e568e-c0c9-41b2-bb00-0db9fc7cda2e">525</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEyLTEtMS0xLTUxMDQ0Mg_ef7c9fe9-557e-4869-8fc5-06ce029d1c43">533</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEyLTItMS0xLTUxMDQ0Mg_8d97beea-a422-4c8c-8c11-e2d49e08d3fe">118</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEyLTMtMS0xLTUxMDQ0Mg_d520ccf8-615f-40b4-b98b-e30f58e570f2">217</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest expenses </span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:InterestExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEzLTEtMS0xLTUxMDQ0Mg_01a092cf-ab1e-41d9-845b-30c5052d78c7">1,548</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:InterestExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEzLTItMS0xLTUxMDQ0Mg_7e9222c8-bd02-42b1-ab88-3dad2fa134fe">1,290</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:InterestExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzEzLTMtMS0xLTUxMDQ0Mg_35a00e42-7d19-48fb-ba7b-fcc889fb73ae">1,320</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses on lease liabilities (see Note 20)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE0LTEtMS0xLTUxMDQ0Mg_56803316-2a48-4133-9911-72cf9f2e6c14">393</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE0LTItMS0xLTUxMDQ0Mg_31f9f697-a693-4136-b507-42f22086e0f8">274</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE0LTMtMS0xLTUxMDQ0Mg_84ad1d21-5c81-4033-b71a-144efd13e5c3">193</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ineffective portion of cash flow hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE1LTEtMS0xLTUxMDQ0Mg_fc65633d-a4b4-4f8c-80c0-723ca1ac9901">15</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE1LTItMS0xLTUxMDQ0Mg_75560dc3-321d-4bec-b8ec-209ffb227201">41</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE1LTMtMS0xLTUxMDQ0Mg_5464a5c6-f70f-4d21-a752-8a21e1c34811">45</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion of provisions and other liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" sign="-" name="tef:AccretionOfProvisionsAndOtherLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE2LTEtMS0xLTUxMDQ0Mg_0b038639-f62c-4f37-a656-11341fd719db">276</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="tef:AccretionOfProvisionsAndOtherLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE2LTItMS0xLTUxMDQ0Mg_6a781119-9f4f-4d6f-a5c4-104988472d0b">169</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="tef:AccretionOfProvisionsAndOtherLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE2LTMtMS0xLTUxMDQ0Mg_66b5737d-c99e-47c6-839f-de83fe779ad9">280</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:OtherFinanceCost" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE3LTEtMS0xLTUxMDQ0Mg_7d2c8a6a-1516-43f8-9509-7c998d6b97b9">317</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:OtherFinanceCost" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE3LTItMS0xLTUxMDQ0Mg_16c107f1-3ea5-49e2-acb4-e4f9be0dcbd4">137</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:OtherFinanceCost" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE3LTMtMS0xLTUxMDQ0Mg_db3fe6cd-2fee-45b5-845f-e5f672d528e2">131</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE4LTEtMS0xLTUxMDQ0Mg_04d523fe-8d46-49b6-8b9d-5de8666ffe8c">1,997</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE4LTItMS0xLTUxMDQ0Mg_2fa9b2d3-c408-4df9-b76a-363c5327bf75">1,911</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" name="ifrs-full:FinanceCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE4LTMtMS0xLTUxMDQ0Mg_0b0156eb-1318-4de3-8dea-5dc660334a32">1,879</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net finance costs excluding foreign exchange differences and hyperinflation adjustments</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7579fae6bd24bbf9e0a2fa77d130bb7_D20220101-20221231" decimals="-6" sign="-" name="tef:FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE5LTEtMS0xLTUxMDQ0Mg_4d684d14-fe2d-40e1-8d38-f5e229d5e4c2">1,227</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2f9c775823724a259762eddb5cf86ce3_D20210101-20211231" decimals="-6" sign="-" name="tef:FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE5LTItMS0xLTUxMDQ0Mg_f49c413e-1ff7-4e69-8bac-60afe308741d">1,414</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia422e3d4821946d08a7894b9cb7c65c6_D20200101-20201231" decimals="-6" sign="-" name="tef:FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1YzdhOWMyYmU3Y2M0ZGM5YjljODA5MGY0YWFiNzRkMi90YWJsZXJhbmdlOjVjN2E5YzJiZTdjYzRkYzliOWM4MDkwZjRhYWI3NGQyXzE5LTMtMS0xLTUxMDQ0Mg_34fe2de2-c20d-4f3b-a304-dc6290fa7401">1,740</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-92</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><span><br/></span></div><ix:continuation id="i57c1d768dc374d18b7471d44a60d1e3e" continuedAt="i2bc6d8f9576647819d103b4c699176f0"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Other financial income" in 2022 includes <ix:nonFraction unitRef="eur" contextRef="if09f7fd613c045e8b26365445f93dfd2_D20220101-20221231" decimals="-6" name="ifrs-full:OtherRevenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE1OTQyOTE4NjU3MDA2_63af283c-1794-4d68-b09d-696f08590782">526</ix:nonFraction> million euros corresponding to delayed interest after the Agreement for the Execution of the Judgment of the Audiencia Nacional issued on October 24, 2022 (see Note 25, Inspections of the tax group in Spain).</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Other financial income" in 2022 included <ix:nonFraction unitRef="eur" contextRef="i8d1978e8c0c1499a9461e68d54f0180d_D20220101-20221231" decimals="-6" name="ifrs-full:OtherRevenue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQxODI4_1e664cf8-d5e0-4e85-a6f4-8e29a4f49735">139</ix:nonFraction> million euros corresponding to the default interest as a result of the final decisions in favor of Telef&#243;nica Brazil about the right to deduct the ICMS from the calculation basis of PIS/COFINS (<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseInFinanceIncomeDueToDecisionsWithTaxAuthorities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyMDI1_c3786f0e-42d3-4172-918e-524fd33a4192">90</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:IncreaseDecreaseInFinanceIncomeDueToDecisionsWithTaxAuthorities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzc2OTY1ODE0NDYwODU_671521d8-5e05-4a24-b749-cf1a40c5dfb6">85</ix:nonFraction> million euros in 2021 and 2020, respectively, see Note 25).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"(Loss)/Gain on fair value hedges" includes mainly the impact on income of fair value hedges contracted by Telef&#243;nica, S.A., which are similarly reflected under "Gain/(loss) on adjustment to items hedged by fair value hedges" and therefore, have no significant net impact on the consolidated income statement. The increase in both items with respect to previous years is a consequence of the increase in interest rates. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The impact of hyperinflation on the net monetary position of the Group&#8217;s subsidiaries in Argentina amounted to <ix:nonFraction unitRef="eur" contextRef="i3a01b5ef40a945c5b527ec254d1edb8a_D20220101-20221231" decimals="-6" name="tef:FinancialIncomeLossImpactofHyperinflationonNetMonetaryPosition" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyMTgz_9cd6108c-6005-4a67-bc2c-07eebf9be5a7">39</ix:nonFraction>&#160;million euros in 2022 (<ix:nonFraction unitRef="eur" contextRef="i480a9a45f2d2425dbe87c9cb497cafe8_D20210101-20211231" decimals="-6" name="tef:FinancialIncomeLossImpactofHyperinflationonNetMonetaryPosition" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyMjA3_d6e86290-af36-4414-a763-665087c1425f">25</ix:nonFraction> million euros in 2021 and <ix:nonFraction unitRef="eur" contextRef="ibe90577f4a614983a017801039c07d5c_D20200101-20201231" decimals="-6" name="tef:FinancialIncomeLossImpactofHyperinflationonNetMonetaryPosition" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyMjM0_f6e25c06-d4f8-4f3a-9c65-8eacf90f1076">43</ix:nonFraction> million euros in 2020) and is recorded under Exchange differences in the consolidated income statement. </span></div><div><span><br/></span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Evolution of derivative instruments    </span></div><div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfFairValueOfDerivativeInstrumentsAndExpectedMaturityTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MTM0_fc854582-ed57-45f3-9a31-acbcd888ee88" continuedAt="iec36f20bacd9401193d807d57b2a2f46" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of the net position of derivatives during the years ended December 31, 2022 and December 31, 2021 is as follows:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.626%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.036%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.038%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Movement in 2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Movement in 2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Opening balance of assets/(liabilities)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id5871573d3454a708913ab0ee9449e75_I20211231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzEtMS0xLTEtNTEwNDQy_8cda7f4d-67cd-4202-abe5-6380c460bd48">1,573</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7102388d19c5468e902c2090a035c3ad_I20201231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzEtMi0xLTEtNTEwNDQy_8f8f260c-7b18-40dd-b427-1e77dbce815d">13</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" name="tef:FinancingPaymentsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzItMS0xLTEtNTEwNDQy_6f415141-096a-4d13-8559-3064bad3f2a2">715</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" name="tef:FinancingPaymentsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzItMi0xLTEtNTEwNDQy_15386b4c-2969-4d84-bd9c-eb5ded6f051d">34</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing proceeds</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" name="tef:FinancingProceedsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzMtMS0xLTEtNTEwNDQy_9fa208ce-dbf2-452a-afd3-4fc7f25b8ce3">89</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" sign="-" name="tef:FinancingProceedsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzMtMi0xLTEtNTEwNDQy_24475359-e88d-4357-b307-7dab6701b220">89</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest (proceeds)/payments</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" name="tef:InterestProceedsPaymentsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzQtMS0xLTEtNTEwNDQy_c218c66e-6dfd-4f2b-abcd-98f9e1c8c377">283</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" sign="-" name="tef:InterestProceedsPaymentsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzQtMi0xLTEtNTEwNDQy_dcdf94cf-79f0-4edc-ba08-919ced59b746">91</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other (proceeds)/payments</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" sign="-" name="tef:OtherProceedsPaymentsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzUtMS0xLTEtNTEwNDQy_c4163ed2-ba8c-4509-8cb6-6115274b69a4">17</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" sign="-" name="tef:OtherProceedsPaymentsofFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzUtMi0xLTEtNTEwNDQy_66641267-99d5-499e-be53-2a2e23d020af">31</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments through other comprehensive income</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" name="tef:FairValueAdjustmentsThroughOtherComprehensiveIncomeofFinancialInstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzYtMS0xLTEtNTEwNDQy_363f08ba-7828-42a9-a860-32b6f9e18c6a">1,031</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" name="tef:FairValueAdjustmentsThroughOtherComprehensiveIncomeofFinancialInstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzYtMi0xLTEtNTEwNDQy_7ece8743-aab1-4b98-8220-c40bb02ab220">1,733</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with counterparty in the income statement</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" sign="-" name="tef:Increasedecreasethroughmovementswithcounterpartyfinancialinstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzctMS0xLTEtNTEwNDQy_ce78c2af-160f-4204-9e24-471e9dbde572">2,649</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" sign="-" name="tef:Increasedecreasethroughmovementswithcounterpartyfinancialinstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzctMi0xLTEtNTEwNDQy_8c3815fd-6320-4fc9-9f51-91321ca7d1df">538</ix:nonFraction>)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" name="tef:Increasedecreasethroughtranslationdifferencesfinancialinstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzgtMS0xLTEtNTEwNDQy_a23f8eff-67dd-435f-88ac-42ddecd92239">169</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" name="tef:Increasedecreasethroughtranslationdifferencesfinancialinstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzgtMi0xLTEtNTEwNDQy_ca558831-8cea-4e96-8de7-4fdbe0d18fb2">393</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" sign="-" name="tef:Increasedecreasethroughothermovementsfinancialinstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzEwLTEtMS0xLTUxMDQ0Mg_6d51c186-ed86-41b9-9f6c-39784fbcfbf4">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" sign="-" name="tef:Increasedecreasethroughothermovementsfinancialinstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzEwLTItMS0xLTUxMDQ0Mg_330fda76-80b7-497c-a8db-0033a4329a06">29</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Closing balance of assets/(liabilities)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6e7f4f5f5ef84dee8756fd4e804369b5_I20221231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzExLTEtMS0xLTUxMDQ0Mg_fdd8e71f-d93f-4be9-80ee-a8857960041b">1,012</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id5871573d3454a708913ab0ee9449e75_I20211231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpjYWVjMWFmMDQ3ZjU0YjFkYjMxZmFkZjE3OTE4NWMwMy90YWJsZXJhbmdlOmNhZWMxYWYwNDdmNTRiMWRiMzFmYWRmMTc5MTg1YzAzXzExLTItMS0xLTUxMDQ0Mg_bc6c488b-e834-49bc-b8e6-cd3afc905d04">1,573</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The variation in 2022 represents a decrease of <ix:nonFraction unitRef="eur" contextRef="i65587c42ed7946e8a2a6b59b5f5b3746_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyNTU0_9630a3db-28cc-45c5-b9e2-cc2c1fea1793">561</ix:nonFraction> million euros of asset (increase of <ix:nonFraction unitRef="eur" contextRef="i98fb61b2684f4392bc2a148d5ca02bd4_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseInFinancialAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyNTkz_bbebe43c-47ad-43ac-bd1e-12dd225bddcd">1,560</ix:nonFraction> million euros of liability in 2021) mainly due to the increase in dollar and euro interest rates and the evolution of the EUR/USD exchange rate. These variations are mostly by a similar impact and in the opposite direction in the hedge accounting of the different issuances and loans in dollar and euro currency of the Telef&#243;nica Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022 the derivatives portfolio amount a net positive value of <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyODQ2_bd1c9f40-c835-4b5d-8331-28320dd5e792">1,012</ix:nonFraction> million euros (a net positive value of <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzYwNDczMTQwMTExODM_f40f5171-506c-49e4-ac18-48d262891f9c">1,573</ix:nonFraction> as of December 31, 2021). This amount includes a net positive value of <ix:nonFraction unitRef="eur" contextRef="ic4eebc9856154854bc152162dab260ad_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQyOTE4_4dd4dd54-7307-4352-b8df-1970ac08b701">638</ix:nonFraction> million euros due to hedges (cross currency swaps) to transfer financial debt issued in foreign currency to local currency (a positive value of <ix:nonFraction unitRef="eur" contextRef="ib92c083fe7b841caa33a4c2aea4884b5_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesOnChangeInFairValueOfDerivatives" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQzMDY1_7d0db68f-46d6-4c64-b1f4-23fe5199a147">188</ix:nonFraction> million euros at December 31, 2021). </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of the fair values of the Telef&#243;nica Group&#8217;s debt instruments required an estimate, for each currency and counterparty, of a credit spread curve using the prices of the Group&#8217;s bonds and credit derivatives. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The derivatives portfolio was measured through the techniques and models normally used in the market, based on money market curves and volatility prices available in the markets.  Additionally, the credit valuation adjustment or net CVA per counterparty (CVA+DVA) is calculated on that measurement as the method used to measure the credit risks of the counterparties and also Telef&#243;nica for the purpose of adjusting the fair value valuation of the derivatives. This adjustment reflects the possibility of bankruptcy or credit rating impairment of the counterparty and Telef&#243;nica. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivatives arranged by the Group at December&#160;31, 2022 are detailed in Appendix IV. </span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-93</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i2bc6d8f9576647819d103b4c699176f0" continuedAt="i57445c0fedbd48c3b8c96209e1626378"><ix:continuation id="iec36f20bacd9401193d807d57b2a2f46" continuedAt="i10f47888f554419aa8bc2006be930990"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of Telef&#243;nica&#8217;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:   </span></div><div><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.643%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.643%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.643%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.643%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.643%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.517%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.934%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.790%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.933%"></td><td style="width:0.1%"></td></tr><tr><td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional amount - Maturities </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Book value of the derivative and no-derivative instruments </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Later</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments of accounting hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i97e565d1b1f741998030462dc3b6c36c_I20221231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzMtMS0xLTEtNTEwNDQy_c7405743-72dd-4308-851a-8f86c6db6b17">2,034</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9bf173b66d5048b4a2614ad79af78d27_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzMtMi0xLTEtNTEwNDQy_480a292b-c168-4e53-8eaf-81107e80e5bf">116</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2a9e04bd9c194a67a705f427e2b33212_I20221231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzMtMy0xLTEtNTEwNDQy_4ada9167-d610-4dce-ba46-a8aa6f8f513a">77</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idf61f6f63e4f405fb4760aef120512de_I20221231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzMtMTAtMS0xLTUxMDQ0Mg_51f3ffd0-2724-4b66-a04f-0cdc7dc64bad">78</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i40018daf4f4448a7a037fb44bbd87453_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzQtMi0xLTEtNTEwNDQy_489e2006-59a9-40b8-870f-545a6ca4f50a">2</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ife2eb558f72b41fa8a1a8a6178103679_I20221231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzQtMy0xLTEtNTEwNDQy_6bb7b43b-b15e-47b3-bfdb-8d8a4162f24e">123</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifc59e65626c94cdb9bbada4c5b1f22dc_I20221231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE1LTItMS0xLTUxMDQ0Mg_8fecdb53-8596-44a5-a44f-f74b3b1d9919">688</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE1LTEwLTEtMS01MTA0NDI_64f297af-23c1-4f15-8282-0cb07581eb0f">16</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iba4affcf0614447b962be6789beed8ad_I20221231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE3LTUtMS0xLTUxMDQ0Mg_ce3dc11e-36a0-4971-98fe-9788313c4e2c">916</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1979b922821749748fff402ef85ffc81_I20221231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE3LTgtMS0xLTUxMDQ0Mg_84254004-e559-4e33-b6c8-1971b6988689">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1979b922821749748fff402ef85ffc81_I20221231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE3LTktMS0xLTUxMDQ0Mg_0d452321-b3ba-4d8d-8721-d60e335e42a3">75</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1979b922821749748fff402ef85ffc81_I20221231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE3LTEwLTEtMS01MTA0NDI_41c3b74e-0854-470d-9f47-20cdeb6cb088">106</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1979b922821749748fff402ef85ffc81_I20221231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE3LTExLTEtMS01MTA0NDI_001ea131-af33-42a6-82f4-ab29c544dd5a">173</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total derivative instruments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE4LTUtMS0xLTUxMDQ0Mg_e55d122f-bb7d-4b9a-8699-3a4ccc156d4f">89</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia568b6817c1c453a8f3ace70e33beb52_I20221231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE4LTEwLTEtMS01MTA0NDI_e2eee10d-618d-47b9-a373-25cd8a452ee5">345</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia568b6817c1c453a8f3ace70e33beb52_I20221231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" format="ixt:num-dot-decimal" 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i92d771ebdffe4e1da8ad32bfae428ce9_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE5LTItMS0xLTUxMDQ0Mg_71f60380-1b2a-4e8b-a66c-3ad04278b5d2">141</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid 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style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3ae355f100a442c68ae3db4fc8699c9e_I20221231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzE5LTExLTEtMS01MTA0NDI_f7c9e33b-c240-41d3-b547-8e92577900d2">141</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8971c7c551544a52b3b45ee4f8561ea7_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTMtMS0xLTUxMDQ0Mg_c4bb7cd1-33e0-4f4d-975b-e3040ab0c149">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9bbee40dff254f99afc8f0d9c87a4efd_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTQtMS0xLTUxMDQ0Mg_7a021ee9-dcf8-4c20-9a82-0ccf5a4ad26d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5af43e7ac8004ee286948c9bdde2e020_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTUtMS0xLTUxMDQ0Mg_c64f9eb1-6e35-4d22-94d6-2238d236cc84">141</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5af43e7ac8004ee286948c9bdde2e020_I20221231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTctMS0xLTUxMDQ0Mg_629d877f-465b-41f2-82aa-12973d98bfff">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5af43e7ac8004ee286948c9bdde2e020_I20221231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTgtMS0xLTUxMDQ0Mg_6e701696-18ae-4ec8-9f65-837b927808b9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5af43e7ac8004ee286948c9bdde2e020_I20221231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTktMS0xLTUxMDQ0Mg_b7b7a503-8f7f-4aea-9d70-f518c87d6de2">141</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5af43e7ac8004ee286948c9bdde2e020_I20221231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTEwLTEtMS01MTA0NDI_2042f849-6063-4751-bf04-2add78c32647">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5af43e7ac8004ee286948c9bdde2e020_I20221231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplNmFjYmYwZDRmNWE0ODc2YjhmMThmMTY2MTNlYjYyZC90YWJsZXJhbmdlOmU2YWNiZjBkNGY1YTQ4NzZiOGYxOGYxNjYxM2ViNjJkXzI2LTExLTEtMS01MTA0NDI_6963094b-a7a8-4505-a511-b86f6ba92f59">141</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> For interest rate hedges, the positive amount is in terms of "fixed payment.&#8221; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.  </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Positive amounts indicate payables.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Of the hedging instruments that are not derivatives,<ix:nonFraction unitRef="eur" contextRef="i8708e4a0fdd345e7a9f4572c17fb1c7e_I20221231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ0NDM4_74ae28ae-1436-4ba5-8183-5351df9e0978">141</ix:nonFraction> million euros correspond to "Loans and other debts"" (see Note 18). </span></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-94</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i57445c0fedbd48c3b8c96209e1626378" continuedAt="i546c18a55a83469b96211ec0d3e7a53f"><ix:continuation id="i10f47888f554419aa8bc2006be930990" continuedAt="i8cbc5e533f5148739d50854173d317ac"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.862%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.672%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.384%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.520%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.392%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.392%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.825%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.965%"></td><td style="width:0.1%"></td></tr><tr><td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional amount - Maturities </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Book value of the derivative and no-derivative instruments </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Later</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments of accounting hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i503e70281d3c4f24ae74f89ad97d9e2f_I20211231" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzMtMi0xLTEtNTEwNDQy_8d463da1-5e1c-44ae-bd72-d3522af1abad">904</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7d57b2b6342b49079bad5613b73ffa3b_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzUtOS0xLTEtNTEwNDQy_195fccc3-0e29-4df2-90a2-4842928b4321">11</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i273365f416014ff697e4d10f3ab8bdfd_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzUtMTAtMS0xLTUxMDQ0Mg_f6abe2b9-0a8f-4c91-b0de-07c5a2992bf3">4</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i273365f416014ff697e4d10f3ab8bdfd_I20211231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzUtMTEtMS0xLTUxMDQ0Mg_691dd8b7-ae22-40da-806c-d0df3a660b09">20</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzYtMi0xLTEtNTEwNDQy_9f66efc7-e85e-46f6-8467-b805df4daa1e">801</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1ea4318b0a0641e082ab7ebf13da6f1b_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzYtMy0xLTEtNTEwNDQy_6c851f34-fd82-40d0-9bd5-a8e9ec2532bb">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iea50542c70ce425eb7ac322f72cd22f0_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzYtNy0xLTEtNTEwNDQy_5aecbdf6-1790-4323-bbbb-294cab200037">890</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7d4414321c644259b2af7db140a84b67_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" scale="6" 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name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTItMS0xLTUxMDQ0Mg_788346ff-de7b-4464-81c1-3e139f5147e5">1,187</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id3b75ae64299403b8d8640a1d32a7ce7_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTMtMS0xLTUxMDQ0Mg_5c7a2c3a-3032-4440-9738-03dab162086c">303</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i46a0ad8d7b3b489bb25df9dba5231cbf_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTQtMS0xLTUxMDQ0Mg_026aaf25-0923-4ae4-9d69-68a37562a680">1,238</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e9a7558c4dd461e95df5dc76afb973c_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTUtMS0xLTUxMDQ0Mg_42f4baa7-f8c3-40d5-8372-e68911598490">3,982</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e9a7558c4dd461e95df5dc76afb973c_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTctMS0xLTUxMDQ0Mg_e8219729-1e3c-4f97-878a-e01a7c0b911c">471</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e9a7558c4dd461e95df5dc76afb973c_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTgtMS0xLTUxMDQ0Mg_14b89892-bf97-47bd-ab1d-8387df2507cc">87</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e9a7558c4dd461e95df5dc76afb973c_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTktMS0xLTUxMDQ0Mg_7f6c9e53-ff85-4cd4-ad39-15d739dcffd2">397</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e9a7558c4dd461e95df5dc76afb973c_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTEwLTEtMS01MTA0NDI_026b3168-6d5c-40c0-80b3-312c6bd5c718">127</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2e9a7558c4dd461e95df5dc76afb973c_I20211231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE0LTExLTEtMS01MTA0NDI_8faf090b-cfa3-46fc-a48a-b8d5e0f9d570">34</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of interest rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9ec5a8aebf6b436998eaea303cc82dd9_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTEtMS0xLTUxMDQ0Mg_84296ab9-c11b-4a07-9e78-5952af1c55c4">963</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if2f4603583564730b256b40c2fb8794f_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTItMS0xLTUxMDQ0Mg_aa5f8927-fcbf-4df5-bce8-bc5f96504820">1,283</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic3c4c1840200406ba810e1580b28f0c0_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTMtMS0xLTUxMDQ0Mg_22c30e24-b450-483f-99f9-315560a5460f">303</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic4839e29896f4776888aab6a1ed2d8bc_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTQtMS0xLTUxMDQ0Mg_fd31ad4e-5028-42d4-80a9-94bdd8ff9540">1,238</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia8fd879acbf64137815b77d93f8382e8_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTUtMS0xLTUxMDQ0Mg_ab4e8565-49b5-4165-8538-8a4dfb46e826">3,787</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia8fd879acbf64137815b77d93f8382e8_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTctMS0xLTUxMDQ0Mg_46030de4-c84f-47df-b733-a8c9362e4edc">244</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia8fd879acbf64137815b77d93f8382e8_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTgtMS0xLTUxMDQ0Mg_541057bb-6b38-4f4d-a11f-825b213c7bd9">55</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia8fd879acbf64137815b77d93f8382e8_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTEwLTEtMS01MTA0NDI_c6b29b04-414b-4a26-ba77-f7f525371166">8</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia8fd879acbf64137815b77d93f8382e8_I20211231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE1LTExLTEtMS01MTA0NDI_0f948a9f-badd-4bc1-aa30-9ecdeac72670">121</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of exchange rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE2LTctMS0xLTUxMDQ0Mg_903c64ec-ec18-4a2a-8ac3-5bdc7d460882">214</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="idaaab6fc6ac84aa4bc6dcb7ae7e47f69_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE2LTgtMS0xLTUxMDQ0Mg_df261b69-1156-4e94-a889-4e5dd97fe3c6">23</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idaaab6fc6ac84aa4bc6dcb7ae7e47f69_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE2LTEwLTEtMS01MTA0NDI_66860748-b17e-4aa5-b366-08d05c9eae82">101</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idaaab6fc6ac84aa4bc6dcb7ae7e47f69_I20211231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE2LTExLTEtMS01MTA0NDI_9f825d7b-b936-4d84-b269-c7bb7e15bbfc">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE3LTQtMS0xLTUxMDQ0Mg_5cf0a602-73db-4cef-9c70-d235bd817895">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccbd09cd0f0b41288fdf12cc320ab487_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE3LTUtMS0xLTUxMDQ0Mg_7c5fc99a-ebab-4523-b651-c3e6a41fa856">915</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iccbd09cd0f0b41288fdf12cc320ab487_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE3LTctMS0xLTUxMDQ0Mg_deda0455-6923-4b1f-b99b-4d50ccc5ac7d">13</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iccbd09cd0f0b41288fdf12cc320ab487_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE3LTgtMS0xLTUxMDQ0Mg_4c303924-69b3-4ccb-9593-7895ec3cac40">9</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccbd09cd0f0b41288fdf12cc320ab487_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE3LTktMS0xLTUxMDQ0Mg_7af33f0a-5d16-44a1-b8b9-c1af49958f13">85</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccbd09cd0f0b41288fdf12cc320ab487_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE3LTEwLTEtMS01MTA0NDI_8c71c2ac-4d4c-4661-964c-d32bada1c6cf">18</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iccbd09cd0f0b41288fdf12cc320ab487_I20211231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE3LTExLTEtMS01MTA0NDI_be1a76b2-de5f-45da-9ab3-7f5840f32e0d">81</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total derivative instruments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic86ac08bcd4542a6bbefa8c355820b19_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE4LTEtMS0xLTUxMDQ0Mg_5836f74a-4647-4165-86d0-51a5741583aa">6,274</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i43f3a21070644c2daabc70b71b47a802_I20211231" decimals="-6" sign="-" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE4LTMtMS0xLTUxMDQ0Mg_2688d4fd-7d02-45fb-ba74-ee81cb62a7c4">205</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia7353b26e9ac49559ee616668b759815_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE4LTQtMS0xLTUxMDQ0Mg_52999018-6b8f-422d-9e0c-898fc24c242a">7,567</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifa5171f0686147d886b8ca0517571f2f_I20211231" decimals="-6" sign="-" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE4LTUtMS0xLTUxMDQ0Mg_41bfa4cc-6f20-4e35-abbd-48de23c0a733">1,003</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifa5171f0686147d886b8ca0517571f2f_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE4LTgtMS0xLTUxMDQ0Mg_5a4b2e40-bcd4-492f-a7a5-21b1f6a20e91">995</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifa5171f0686147d886b8ca0517571f2f_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE4LTEwLTEtMS01MTA0NDI_58883bfa-f4b4-419b-ad3b-fb7adbc29ade">359</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifa5171f0686147d886b8ca0517571f2f_I20211231" decimals="-6" name="tef:DerivativeAssetLiabilityNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE4LTExLTEtMS01MTA0NDI_e84636ea-0477-4a11-9fdc-2f6534ef4694">1,573</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivatives instruments of accounting hedges </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span></div></td><td colspan="2" 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie09fce070a2645f4ae38615a40df2ae0_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE5LTItMS0xLTUxMDQ0Mg_ff34f3fc-a4c9-429d-994a-12029f899555">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id13ee8dde5eb4aec8aea3f59b181a9d4_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE5LTMtMS0xLTUxMDQ0Mg_7635ca39-c581-4412-bd14-da4eced12b08">133</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia0ced180817c40359d7264a543825275_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE5LTgtMS0xLTUxMDQ0Mg_5bbee341-5be0-4297-8c0a-3700d69c2e5c">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid 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style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia0ced180817c40359d7264a543825275_I20211231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzE5LTExLTEtMS01MTA0NDI_4a2c8084-50d9-4191-ba05-0dc64c9e26c3">132</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i127e18ea6f4c423b9036a649b715194c_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzI2LTMtMS0xLTUxMDQ0Mg_650d58b9-9cfe-46f1-b76f-a39befc943db">133</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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#bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia256d2dcf6a74e39886fda92b1db1787_I20211231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzI2LTUtMS0xLTUxMDQ0Mg_522c0ed7-93d2-4398-883f-60cba7f7bf8b">133</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia256d2dcf6a74e39886fda92b1db1787_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzI2LTctMS0xLTUxMDQ0Mg_c9d4268f-b0d2-4da7-811c-90277b259745">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia256d2dcf6a74e39886fda92b1db1787_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzI2LTgtMS0xLTUxMDQ0Mg_74744453-784b-4d96-b501-5b5d4bb232c4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia256d2dcf6a74e39886fda92b1db1787_I20211231" decimals="-6" name="ifrs-full:CurrentDerivativeFinancialLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzI2LTEwLTEtMS01MTA0NDI_2fabee1b-8da8-4cf4-87e1-617444001035">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia256d2dcf6a74e39886fda92b1db1787_I20211231" decimals="-6" sign="-" name="tef:DerivativeAssetLiabilityNet" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTpkM2YzNWYxZjVlOTg0NDg1YTkyMWJjOTAzNGI5MmQ5My90YWJsZXJhbmdlOmQzZjM1ZjFmNWU5ODQ0ODVhOTIxYmM5MDM0YjkyZDkzXzI2LTExLTEtMS01MTA0NDI_4675de9a-f8a6-424a-aed0-56affdd729c3">132</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> For interest rate hedges, the positive amount is in terms of "fixed payment.&#8221; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.   </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Positive amounts indicate payables. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Of the hedging instruments that are not derivatives, <ix:nonFraction unitRef="eur" contextRef="i516b540693bf4988895684d21c919fb5_I20211231" decimals="-6" name="ifrs-full:NoncurrentDerivativeFinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ0Nzk2_e3ace646-602a-477b-a5b2-28dbc8093006">132</ix:nonFraction> million euros correspond to "Loans and other debts" (see Note 18).  </span></div></ix:continuation><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i8cbc5e533f5148739d50854173d317ac" continuedAt="i81c12af08fa548c2b0f7fbf72354e51d">The detail of hedged items by fair value hedges at December 31, 2022 and December 31, 2021 are as follows:</ix:continuation></span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-95</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i546c18a55a83469b96211ec0d3e7a53f" continuedAt="i08a775dea1a84042b0ac1027582b6864"><ix:continuation id="i81c12af08fa548c2b0f7fbf72354e51d" continuedAt="i45f491690ac74e2f8c724fc765926a06"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.463%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.371%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.078%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.518%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.647%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.823%"></td><td style="width:0.1%"></td></tr><tr><td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Hedged items carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accumulated amount in the hedged item adjusted by fair value hedge </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</span></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id6ee1c7adaae4ebdb39dec723da40d6a_I20221231" decimals="-6" sign="-" name="tef:CurrentPayablesAndOtherCurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplMGViNjRlZDQxMDM0ZjAwYTliNDY3M2I0YjhiMGNiYy90YWJsZXJhbmdlOmUwZWI2NGVkNDEwMzRmMDBhOWI0NjczYjRiOGIwY2JjXzEzLTctMS0xLTUxMDQ0Mg_3ff9f929-ce5d-42ab-a0eb-5338fe6c3e96">36</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8b301fe0e78e49e79c6fe7741fe9c80f_I20221231" decimals="-6" sign="-" name="tef:CurrentPayablesAndOtherCurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplMGViNjRlZDQxMDM0ZjAwYTliNDY3M2I0YjhiMGNiYy90YWJsZXJhbmdlOmUwZWI2NGVkNDEwMzRmMDBhOWI0NjczYjRiOGIwY2JjXzEzLTktMS0xLTUxMDQ0Mg_255d2266-7034-46bb-b0b9-874690a31ddc">35</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i63374f1d9412403a8c363a4fbf847422_I20221231" decimals="-6" sign="-" name="tef:CurrentPayablesAndOtherCurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTplMGViNjRlZDQxMDM0ZjAwYTliNDY3M2I0YjhiMGNiYy90YWJsZXJhbmdlOmUwZWI2NGVkNDEwMzRmMDBhOWI0NjczYjRiOGIwY2JjXzEzLTEwLTEtMS01MTA0NDI_a8a5c40d-1bde-40c3-89e0-16cc52dd2e50">16</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and viceversa.</span></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-96</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i08a775dea1a84042b0ac1027582b6864" continuedAt="i8ed2992b2c814c718915c4bae31ce61d"><ix:continuation id="i45f491690ac74e2f8c724fc765926a06" continuedAt="i8e67240f977a49f39321412281409761"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.463%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.670%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.949%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.365%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.382%"></td><td style="width:0.1%"></td></tr><tr><td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Hedged items carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accumulated amount in the hedged item adjusted by fair value hedge </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzQtOS0xLTEtNTEwNDQy_2b9bceda-75bc-4683-9da3-cc3a5bd346d4">1</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3051d29e4ebc4e2bbb59d9d92bc2d6f9_I20211231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" format="ixt:fixed-zero" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i467eba761954407cbc95b936099a36c1_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzUtMi0xLTEtNTEwNDQy_cd990db4-cc10-4f99-a8c6-baaeb9e069dd">106</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3350381d05854e629616024cbee2c236_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzUtMy0xLTEtNTEwNDQy_5dba7468-e50c-4223-8bfd-c18c2bde70e3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5e78112a5a8044bb8469f8e70e4481e8_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzUtNC0xLTEtNTEwNDQy_a7cccfb1-82b6-42aa-8d80-efcf18851fda">106</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i66b2cfffc5ab44aebc5b2f910c99a102_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzUtNi0xLTEtNTEwNDQy_067b82e8-9c02-4e28-ba7a-b4642650695a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia0bc82b618fe4966979d45496ca37d3d_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzUtNy0xLTEtNTEwNDQy_3bfd891f-4154-400b-a678-931c7d5163a5">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i14ed3a03a632439a9778344e1204f7e1_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzUtOC0xLTEtNTEwNDQy_d328c007-fe58-43d7-a3c8-50af9be5bb14">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia5b87d8809f34ea8a0e02e30df4959d0_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzUtOS0xLTEtNTEwNDQy_c00d805b-4ab1-4b34-a7ce-e3f0945e003c">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3051d29e4ebc4e2bbb59d9d92bc2d6f9_I20211231" decimals="-6" name="tef:CurrentReceivablesAndOtherCurrentAssets" format="ixt:fixed-zero" scale="6" 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other heading of assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i345e7ddee677479885eab44ab2bcfd82_I20211231" decimals="-6" name="tef:OtherHeadingOfAssets" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzctMS0xLTEtNTEwNDQy_e8432cf9-9819-48f5-a265-28e6b5895b30">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i467eba761954407cbc95b936099a36c1_I20211231" decimals="-6" name="tef:OtherHeadingOfAssets" scale="6" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id55369e7dae048c7903c3fa0ad1ac744_I20211231" decimals="-6" sign="-" name="tef:CurrentPayablesAndOtherCurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzEzLTctMS0xLTUxMDQ0Mg_89f81d02-4a83-4156-a3a0-7d90e1aa06b7">20</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i66d2fa027a89449b81bc1df2d835ad35_I20211231" decimals="-6" name="tef:CurrentPayablesAndOtherCurrentLiabilities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzEzLTgtMS0xLTUxMDQ0Mg_445007b5-578d-4bcc-9070-03f452c43eda">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia9cee6c3e2da4c5296af0fd2add24efb_I20211231" decimals="-6" sign="-" name="tef:CurrentPayablesAndOtherCurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzEzLTktMS0xLTUxMDQ0Mg_e80e5cf7-6a90-4fec-a59c-10b8b96c3b38">20</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4f31494c112f48c2b8d58e3a9e24f75d_I20211231" decimals="-6" sign="-" name="tef:CurrentPayablesAndOtherCurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo2ODRhMTg2YWFjODk0ODY5OGJjMmY4ODY0NjAxMDVlMC90YWJsZXJhbmdlOjY4NGExODZhYWM4OTQ4Njk4YmMyZjg4NjQ2MDEwNWUwXzEzLTEwLTEtMS01MTA0NDI_2c3f0b0a-f91e-4d1d-8f09-222068b4adef">5</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> 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.</span></ix:continuation></ix:continuation></div><div style="margin-top:9pt"><span><br/></span></div><div style="margin-top:9pt"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-97</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><ix:continuation id="i8ed2992b2c814c718915c4bae31ce61d" continuedAt="i5def25cb98df4bb89f7c0d632ab4446e"><ix:continuation id="i8e67240f977a49f39321412281409761" continuedAt="if6792adce344440d8132f94d1fd7d2b4"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolutions of hedges in equity at December 31, 2022 and December 31, 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.252%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.828%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.108%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.252%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.252%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.807%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.403%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:6.238%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.806%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.954%"></td><td style="width:0.1%"></td></tr><tr style="height:29pt"><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivative instruments</span></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Gross amount </span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total hedges in equity</span></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gains (losses) of cash flow hedges</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"></td></tr><tr style="height:38pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate and interest rate risks</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzMtMy0xLTEtNTEwNDQy_26e582a0-2f7b-4d4a-996b-f0c02403cd78">270</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9780540b4bbf4925b30289b0e82d50c4_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzMtNC0xLTEtNTEwNDQy_454cc5cb-1bcc-4a66-b20b-873ba8239f83">705</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i984ce1c8a21540dda5194908fedc05d5_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzMtMTAtMS0xLTUxMDQ0Mg_90777aba-f89e-4457-ac79-669855ba810e">5</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea434ebc58f7421695883de8632221c5_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzMtMTItMS0xLTUxMDQ0Mg_c0d2b095-32d6-4ae2-8ce5-cac24357b0da">607</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifff6868d89e846e09ad9c1b23898cebd_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzMtMTMtMS0xLTUxMDQ0Mg_b41b14c6-94df-4869-b3e0-181356021de6">170</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzMtMTQtMS0xLTUxMDQ0Mg_dce08fa1-0110-47f2-8658-928566b55334">437</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i64216c26971d4caaa518239a9d3d8d61_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtMS0xLTEtNTEwNDQy_0772b119-192f-4915-9783-a2a6b01ebd64">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ac0d77c39004c8095bd65db859d27a7_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtMi0xLTEtNTEwNDQy_be736f88-8902-44fc-bc10-737cf9f0e189">1,235</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80ae6a8e46594e84b79831e96d4a38a2_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtMy0xLTEtNTEwNDQy_a3f61275-6663-4727-b7d6-a7399b844370">612</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7ab497d3aef74527b3c0e8226e23a584_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtNC0xLTEtNTEwNDQy_969aa445-f3a7-4bcc-b2e1-1833d460b9fa">743</ix:nonFraction>)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #86888c;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2d32d2b36ce548e9aab72adb0cbc2431_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtMTAtMS0xLTUxMDQ0Mg_b82d8617-d52a-49b1-a5f2-6cbc6464d1a0">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida7c428d540043a08763608761f13192_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtMTItMS0xLTUxMDQ0Mg_b64a4980-ae3f-47dd-9437-d574e477c0b1">1,104</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5d8b042df13c4ae8ae9c97828998dc63_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtMTMtMS0xLTUxMDQ0Mg_e32fc1e7-bfce-4978-a277-4324f99a34cf">284</ix:nonFraction>)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzUtMTQtMS0xLTUxMDQ0Mg_1c33bf03-8c15-4c8d-9391-99d3356ce3a4">820</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the initial value of hedged item</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i64216c26971d4caaa518239a9d3d8d61_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtMS0xLTEtNTEwNDQy_d7e3ae4b-f5ef-4e51-82d5-da0da6f7ede5">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7ac0d77c39004c8095bd65db859d27a7_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtMi0xLTEtNTEwNDQy_f1a0de96-36c3-4f40-b124-02d0c4172466">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i80ae6a8e46594e84b79831e96d4a38a2_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtMy0xLTEtNTEwNDQy_3e0bd9d3-2056-4988-adfb-cf90d20487fc">7</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ab497d3aef74527b3c0e8226e23a584_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtNC0xLTEtNTEwNDQy_77c8a1b5-f948-4f6d-88f1-170992c37b09">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2d32d2b36ce548e9aab72adb0cbc2431_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtMTAtMS0xLTUxMDQ0Mg_4f0f5fa8-4a84-4fd3-91e0-bc8ceeac1970">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ida7c428d540043a08763608761f13192_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtMTItMS0xLTUxMDQ0Mg_9fc2ba9a-bd08-4d56-abf5-b59699507cdf">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d8b042df13c4ae8ae9c97828998dc63_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtMTMtMS0xLTUxMDQ0Mg_077663ec-540e-4981-9b5a-5ddaab662e16">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzYtMTQtMS0xLTUxMDQ0Mg_b40d01b5-9c17-4d8f-84e0-1db7ce2c5fce">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i64216c26971d4caaa518239a9d3d8d61_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctMS0xLTEtNTEwNDQy_ae69d0a8-75be-4533-bdbd-21afeeb12fcc">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ac0d77c39004c8095bd65db859d27a7_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctMi0xLTEtNTEwNDQy_699840f7-93ba-47a1-be3a-1cb350d28c98">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80ae6a8e46594e84b79831e96d4a38a2_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctMy0xLTEtNTEwNDQy_3b129503-92d3-42b9-872b-94de9806eea7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ab497d3aef74527b3c0e8226e23a584_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctNC0xLTEtNTEwNDQy_ebe5376c-6d22-4aad-a3a3-b64e1702de6b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2d32d2b36ce548e9aab72adb0cbc2431_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctMTAtMS0xLTUxMDQ0Mg_d96e2504-39f0-42e5-8d15-e8e92e3882ed">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida7c428d540043a08763608761f13192_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctMTItMS0xLTUxMDQ0Mg_239eb301-119b-4e3d-add2-aceee2fb9bd7">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d8b042df13c4ae8ae9c97828998dc63_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctMTMtMS0xLTUxMDQ0Mg_2c5733f7-628d-45c2-8b13-eb8fc0da74ad">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzctMTQtMS0xLTUxMDQ0Mg_20bd64a7-2c78-4aff-bd78-2784c612a27a">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i64216c26971d4caaa518239a9d3d8d61_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtMS0xLTEtNTEwNDQy_02ac5cc5-6331-486d-ba75-15ebc5464629">26</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7ac0d77c39004c8095bd65db859d27a7_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtMi0xLTEtNTEwNDQy_d0040768-1ea4-4b9a-b07a-732d34598efa">620</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i80ae6a8e46594e84b79831e96d4a38a2_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtMy0xLTEtNTEwNDQy_8dc4913e-94ac-42af-b2fb-64084aea3efa">127</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ab497d3aef74527b3c0e8226e23a584_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtNC0xLTEtNTEwNDQy_80911f77-ed06-4e79-bd8b-8779cda0d6b6">10</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2d32d2b36ce548e9aab72adb0cbc2431_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtMTAtMS0xLTUxMDQ0Mg_efa9d14f-431c-43ec-bdc7-66b6574c4a80">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ida7c428d540043a08763608761f13192_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtMTItMS0xLTUxMDQ0Mg_9ea105b0-bf38-4d70-bea4-58315c229afa">711</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d8b042df13c4ae8ae9c97828998dc63_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtMTMtMS0xLTUxMDQ0Mg_c26675fb-021b-45f8-bb0f-7617d9a97f49">181</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzgtMTQtMS0xLTUxMDQ0Mg_40eef9b1-051f-4699-98c6-c8cc3a928a40">530</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total translation differences</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i64216c26971d4caaa518239a9d3d8d61_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzktMS0xLTEtNTEwNDQy_9ba06a40-9b69-4406-9657-3f303eae8839">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ac0d77c39004c8095bd65db859d27a7_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzktMi0xLTEtNTEwNDQy_155e11fa-f795-4f02-bc9d-e26ed5396b05">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80ae6a8e46594e84b79831e96d4a38a2_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzktMy0xLTEtNTEwNDQy_df402cea-7cca-4c34-ba7b-baa676f7a5ac">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7ab497d3aef74527b3c0e8226e23a584_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzktNC0xLTEtNTEwNDQy_7a98d8fc-e75a-496c-bc65-54f2756b626e">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2d32d2b36ce548e9aab72adb0cbc2431_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzktMTAtMS0xLTUxMDQ0Mg_e7fd04c1-0d64-4912-8ea8-33e084a3580d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ida7c428d540043a08763608761f13192_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzktMTItMS0xLTUxMDQ0Mg_1ad8991c-a31e-4ba4-b1cc-ef6378c771c9">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d8b042df13c4ae8ae9c97828998dc63_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzktMTMtMS0xLTUxMDQ0Mg_78f23bc5-6281-4231-a472-8a0850b162ff">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i64216c26971d4caaa518239a9d3d8d61_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTEtMS0xLTUxMDQ0Mg_d4e4dc89-81c3-443c-95c8-f588d9f66abb">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ac0d77c39004c8095bd65db859d27a7_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTItMS0xLTUxMDQ0Mg_66efafc5-a5f5-4e7b-9210-d7eaa7325d7d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80ae6a8e46594e84b79831e96d4a38a2_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTMtMS0xLTUxMDQ0Mg_1a4b40d9-3784-474c-a479-c779863db9b3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ab497d3aef74527b3c0e8226e23a584_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTQtMS0xLTUxMDQ0Mg_a47db7a1-dd0b-4000-8efd-a341b47bdeb6">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2d32d2b36ce548e9aab72adb0cbc2431_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTEwLTEtMS01MTA0NDI_66509275-8b1a-458f-8eaa-46a9f4929f79">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida7c428d540043a08763608761f13192_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTEyLTEtMS01MTA0NDI_0f3e7ed8-93cb-4d52-be7d-33946b7a1164">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5d8b042df13c4ae8ae9c97828998dc63_D20220101-20221231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTEzLTEtMS01MTA0NDI_55d96209-f179-4535-852a-eaf277babde7">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEwLTE0LTEtMS01MTA0NDI_3b79398c-b3fa-4fb7-a0af-467bad7ed369">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8371f41aa5ae4dd9bb0ffe1a4c2e0a69_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTEtMS0xLTUxMDQ0Mg_d6443592-53ff-4c06-9d96-a727facf2ad9">37</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8be045bbd7d64ebf973582261925a957_I20221231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTItMS0xLTUxMDQ0Mg_1cffaf80-7bf6-48fd-8307-8d252a3ab2ba">861</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie2d8cca7fc8a4142a0823a7fedbc2c29_I20221231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTMtMS0xLTUxMDQ0Mg_4d8ac421-8064-4e0f-81d2-1de1431f28c9">210</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if576c5a3fedd4ff5b5cfb03bdbaf93fd_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTQtMS0xLTUxMDQ0Mg_7f37cc43-27b2-493f-8020-db14c9130af4">30</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i67ec6136cac247c090b6ebef66776d80_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTEwLTEtMS01MTA0NDI_acc14c95-2510-4323-8ebe-9222a929d0a2">9</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefd7a28c37d741039600b17141a40739_I20221231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTEyLTEtMS01MTA0NDI_7fca80f5-a3ff-4e12-8bd4-0d92093d8979">995</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia7d6cc55b4c84c778fb26e507da1e5cc_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTEzLTEtMS01MTA0NDI_5223d21c-8ff3-434c-8fc9-14d82000c669">270</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzExLTE0LTEtMS01MTA0NDI_56bb4216-5493-4359-a523-f93804b5d0c3">725</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity for continuing hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8371f41aa5ae4dd9bb0ffe1a4c2e0a69_I20221231" decimals="-6" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEyLTEtMS0xLTUxMDQ0Mg_c0e91b09-5914-4530-bc28-0f6010ebf84e">10</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8be045bbd7d64ebf973582261925a957_I20221231" decimals="-6" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEyLTItMS0xLTUxMDQ0Mg_a0a54415-519c-4457-b97d-0f0ce5e82722">826</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie2d8cca7fc8a4142a0823a7fedbc2c29_I20221231" decimals="-6" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEyLTMtMS0xLTUxMDQ0Mg_f6eec2e7-7637-41f5-8f16-2cf0ffda5b89">290</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if576c5a3fedd4ff5b5cfb03bdbaf93fd_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEyLTQtMS0xLTUxMDQ0Mg_8836fb4e-c5de-49ab-bdc1-3d533a997eaf">30</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i67ec6136cac247c090b6ebef66776d80_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEyLTEwLTEtMS01MTA0NDI_0454c1f5-4bcd-4ddc-a94e-a209c011507f">9</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefd7a28c37d741039600b17141a40739_I20221231" decimals="-6" name="tef:HedgesinEquityContinuingHedges" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEyLTEyLTEtMS01MTA0NDI_90537a45-3987-460d-a7b9-c91eb6aa8ddf">1,087</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8371f41aa5ae4dd9bb0ffe1a4c2e0a69_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEzLTEtMS0xLTUxMDQ0Mg_543d0bfd-d1e8-417b-b1e8-e449e990428e">47</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8be045bbd7d64ebf973582261925a957_I20221231" decimals="-6" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEzLTItMS0xLTUxMDQ0Mg_9dce99b6-3f86-44f0-8006-99409a36e687">35</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie2d8cca7fc8a4142a0823a7fedbc2c29_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEzLTMtMS0xLTUxMDQ0Mg_d3ebf83f-4b33-4655-8731-eecc4b96f3d9">80</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if576c5a3fedd4ff5b5cfb03bdbaf93fd_I20221231" decimals="-6" name="tef:HedgesinEquityHedgingNoLongerNeeded" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEzLTQtMS0xLTUxMDQ0Mg_c44453b9-774f-4ba6-bdb2-0122b6e6273a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i67ec6136cac247c090b6ebef66776d80_I20221231" decimals="-6" name="tef:HedgesinEquityHedgingNoLongerNeeded" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEzLTEwLTEtMS01MTA0NDI_c9ea9760-0185-441d-8be4-40b9c82e0a30">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iefd7a28c37d741039600b17141a40739_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzEzLTEyLTEtMS01MTA0NDI_77a4045e-d184-42a0-98ac-24e8638b53c9">92</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8371f41aa5ae4dd9bb0ffe1a4c2e0a69_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzE0LTEtMS0xLTUxMDQ0Mg_e3d935a1-4da7-4703-9dce-95eae1bb81f8">37</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8be045bbd7d64ebf973582261925a957_I20221231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzE0LTItMS0xLTUxMDQ0Mg_d5f66058-0d94-4386-9e08-5395f0442226">861</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie2d8cca7fc8a4142a0823a7fedbc2c29_I20221231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzE0LTMtMS0xLTUxMDQ0Mg_424c94a0-976e-48c9-88a6-dfc21b425d62">210</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if576c5a3fedd4ff5b5cfb03bdbaf93fd_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzE0LTQtMS0xLTUxMDQ0Mg_8a8116d3-2690-4629-ba56-5435e3308526">30</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i67ec6136cac247c090b6ebef66776d80_I20221231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzE0LTEwLTEtMS01MTA0NDI_f54935bd-72bc-47cf-a227-bc74933b7a91">9</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iefd7a28c37d741039600b17141a40739_I20221231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo0ZDQzZjAyMTNiOWI0NjZkOWRiY2Q3NmMyODE3MzExNS90YWJsZXJhbmdlOjRkNDNmMDIxM2I5YjQ2NmQ5ZGJjZDc2YzI4MTczMTE1XzE0LTEyLTEtMS01MTA0NDI_e628dfb9-dbc3-4d16-a73d-63ac257b206f">995</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 +<ix:nonFraction unitRef="eur" contextRef="i9c5cf064adf3496fa309b5fcd5888122_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ1NTky_51e1a788-6f0c-43ab-bd8f-5a379cf57bf7">181</ix:nonFraction> million euros (+<ix:nonFraction unitRef="eur" contextRef="i0f4f0431b9684b09b5d2d88e3e963549_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ1NjEw_8059d44c-2ad3-4785-a226-eedfb9173617">72</ix:nonFraction> 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 +<ix:nonFraction unitRef="eur" contextRef="ib8cf8b4257514fe08d127da16cf4fde3_D20220101-20221231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ1Nzk0_642447bb-0d03-4b56-a60e-01b5248d4a3e">536</ix:nonFraction> million euros (+<ix:nonFraction unitRef="eur" contextRef="i6899f98f95b443fdaf6295be1c311626_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ1ODEy_b3cd0501-a922-46f4-855b-5cde99581054">873</ix:nonFraction> million euros in 2021).     </span></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-98</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i5def25cb98df4bb89f7c0d632ab4446e" continuedAt="ib93519e58eab4a68be036f4a317d8d67"><div style="margin-bottom:9pt;text-align:justify"><ix:continuation id="if6792adce344440d8132f94d1fd7d2b4" continuedAt="i7c443942d0e94f2eb9ac5fbcec94e39d"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.252%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.828%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.108%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.252%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.252%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:0.1%"></td><td style="width:0.807%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.403%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:6.238%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.806%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.954%"></td><td style="width:0.1%"></td></tr><tr style="height:21pt"><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivative instruments</span></td><td colspan="3" style="display:none"></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Gross amount </span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total hedges in equity</span></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gains (losses) of cash flow hedges</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"></td></tr><tr style="height:38pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate and interest rate risks</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if19fa73974e74abe83fbb82425b7af61_I20201231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtMS0xLTEtNTEwNDQy_1e3cc688-d56d-4715-aa12-77c021aaf39d">154</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i25d22509a9fa4c9bb51f934ae97aa861_I20201231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtMi0xLTEtNTEwNDQy_ab5162bc-4a18-4ea4-8fdb-081484e24ddf">443</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i664c3ddb60894ac38cf6453fe1e1b6f5_I20201231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtMy0xLTEtNTEwNDQy_c09518f2-0f9d-46d4-a0e2-bb8a2e55d302">523</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i937b48f7bedb480c85b2720eafd00139_I20201231" decimals="-6" name="tef:HedgesinEquity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtNC0xLTEtNTEwNDQy_cff3b67e-62ab-4665-8564-950c89c143c4">2,061</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia9e00250d2b74dc094f6bb9784f8155e_I20201231" decimals="-6" name="tef:HedgesinEquity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtMTAtMS0xLTUxMDQ0Mg_a042fb2e-5db3-461a-874e-f232d13852f0">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2c6443b2e7ec43d58d765c54c3a951b3_I20201231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtMTItMS0xLTUxMDQ0Mg_5aa135d6-6cd6-49fa-8c4a-5e2c877c62b1">941</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie5b6867acdb34c80803e069c8a091c81_I20201231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtMTMtMS0xLTUxMDQ0Mg_e76a273b-bcda-443f-b39d-3ab6f2259a62">295</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzMtMTQtMS0xLTUxMDQ0Mg_911d80ac-7ed9-4d95-86dc-e2047c5e42c4">646</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3963320f9927406799c0c42c1d925bc0_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtMS0xLTEtNTEwNDQy_cbacd124-244a-4cc4-952a-5f776637f1a5">34</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icca7acd350614339bdfea29d493216d4_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtMi0xLTEtNTEwNDQy_5910165e-9151-48ff-a2c3-2ec4c7d7292e">1,473</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i68f61c9ef8124e7bad78892e2ffe56fd_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtMy0xLTEtNTEwNDQy_02b9959a-33d6-4710-a3d3-0f6f13cee006">445</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icd898d8782434e39a86c87bf21cf346c_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtNC0xLTEtNTEwNDQy_73c2db89-9599-41f5-aef0-fc457c4bfde7">353</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifaeabe1e73f64803a25af7b3d32dc2b4_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtMTAtMS0xLTUxMDQ0Mg_b84a075b-9dee-4331-8b3b-42104289ff26">5</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i42731e27eb4c42038e635ee532189a3c_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtMTItMS0xLTUxMDQ0Mg_3afb60b5-959b-4a03-832c-73fa4c971871">1,594</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7c296c08811340eb97ae574be2e38300_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtMTMtMS0xLTUxMDQ0Mg_e1bd6415-6c1d-478e-8dc8-7e15cf086b6c">396</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreaseinFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzUtMTQtMS0xLTUxMDQ0Mg_bd98950c-6b9c-4457-b4c9-cb315ecb6561">1,198</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the initial value of hedged item</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3963320f9927406799c0c42c1d925bc0_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzYtMS0xLTEtNTEwNDQy_916088ab-4901-4e9d-b54b-388b2296fd12">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icca7acd350614339bdfea29d493216d4_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzYtMi0xLTEtNTEwNDQy_1d3bf39b-509d-4d63-a43a-c2c8d3dd4a88">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i68f61c9ef8124e7bad78892e2ffe56fd_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzYtMy0xLTEtNTEwNDQy_d744941e-a7d3-4397-8b81-3341fbca0478">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icd898d8782434e39a86c87bf21cf346c_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzYtNC0xLTEtNTEwNDQy_2c1551cc-b4b7-48b6-8768-78fcb993a9bd">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifaeabe1e73f64803a25af7b3d32dc2b4_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzYtMTAtMS0xLTUxMDQ0Mg_bfbb5e58-0baf-402b-8c63-dbb09de61858">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i42731e27eb4c42038e635ee532189a3c_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzYtMTItMS0xLTUxMDQ0Mg_faa284ce-ec30-4cb1-a02a-c991c956499c">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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contextRef="i7c296c08811340eb97ae574be2e38300_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzctMTMtMS0xLTUxMDQ0Mg_b67c1e4f-6ae6-4a9a-8f01-f15d29a0202c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzctMTQtMS0xLTUxMDQ0Mg_e12ffe63-0ba6-4c6d-b47c-d414b10e1c3e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3963320f9927406799c0c42c1d925bc0_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtMS0xLTEtNTEwNDQy_2a13923e-3d93-4ee0-8117-a52c56b399f4">48</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icca7acd350614339bdfea29d493216d4_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtMi0xLTEtNTEwNDQy_6fda47c2-4cf1-403b-aae8-736be5c57548">782</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i68f61c9ef8124e7bad78892e2ffe56fd_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtMy0xLTEtNTEwNDQy_142916dd-aaea-4111-8094-170fcb19cf51">188</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icd898d8782434e39a86c87bf21cf346c_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtNC0xLTEtNTEwNDQy_0adb2709-f535-46fd-981d-5a7fbc0e3487">962</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifaeabe1e73f64803a25af7b3d32dc2b4_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtMTAtMS0xLTUxMDQ0Mg_14b73a45-33e4-43cf-a1fa-54f5ef7c86ee">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i42731e27eb4c42038e635ee532189a3c_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtMTItMS0xLTUxMDQ0Mg_6f06c04a-d968-4ea5-9021-e8108ca406eb">1,884</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c296c08811340eb97ae574be2e38300_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtMTMtMS0xLTUxMDQ0Mg_9cc9c9ce-29ba-4231-9584-9f88b3a35ff5">478</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzgtMTQtMS0xLTUxMDQ0Mg_1cd69981-bb7c-4012-8298-8056ab354ade">1,406</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total translation differences</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3963320f9927406799c0c42c1d925bc0_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzktMS0xLTEtNTEwNDQy_64806e39-ccdc-41a2-8656-607249411f52">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icca7acd350614339bdfea29d493216d4_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzktMi0xLTEtNTEwNDQy_3a3217e6-9e03-4a2a-9fdd-8eecd9b94b80">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i68f61c9ef8124e7bad78892e2ffe56fd_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzktMy0xLTEtNTEwNDQy_13b1448e-7601-41cf-8c17-6ba5caefe467">3</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icd898d8782434e39a86c87bf21cf346c_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzktNC0xLTEtNTEwNDQy_32b9bb9c-4201-4591-8266-f1105f54e7a4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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contextRef="i42731e27eb4c42038e635ee532189a3c_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromTranslationDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzktMTItMS0xLTUxMDQ0Mg_ddb4040b-2d89-4a38-a771-5c4e99154698">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c296c08811340eb97ae574be2e38300_D20210101-20211231" decimals="-6" 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name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEwLTQtMS0xLTUxMDQ0Mg_a02a3a1e-2d2c-4266-a2df-7b7a3dba82ca">41</ix:nonFraction>)</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #dbdbdb;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifaeabe1e73f64803a25af7b3d32dc2b4_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEwLTEwLTEtMS01MTA0NDI_323c5b72-9113-4abe-a9c8-208ae90b2104">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i42731e27eb4c42038e635ee532189a3c_D20210101-20211231" decimals="-6" sign="-" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEwLTEyLTEtMS01MTA0NDI_162605ec-0666-44e1-aaa3-7673b9824b61">41</ix:nonFraction>)</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c296c08811340eb97ae574be2e38300_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEwLTEzLTEtMS01MTA0NDI_293c4fd6-9a98-44e9-99c6-984506633612">41</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:HedgesinEquityIncreaseDecreasefromOtherMovements" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEwLTE0LTEtMS01MTA0NDI_51a71a4d-d0c0-4d3a-877f-1aadb49b0bd9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0409b90a313044da93086e4fd5eaa6d0_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzExLTItMS0xLTUxMDQ0Mg_b3b46aef-550b-4ecb-867f-29cbd4e41212">247</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic79a8f11e59442efb16b67b97286cc47_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzExLTMtMS0xLTUxMDQ0Mg_5db7500e-7f36-46a5-9d89-aa3f49c429bb">270</ix:nonFraction>)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9780540b4bbf4925b30289b0e82d50c4_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzExLTQtMS0xLTUxMDQ0Mg_9db891ab-fc83-42d3-a05c-7a7320dbe391">705</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i984ce1c8a21540dda5194908fedc05d5_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzExLTEwLTEtMS01MTA0NDI_ab67f4a8-ca47-4a3a-be43-c9630de1f2bc">5</ix:nonFraction>)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea434ebc58f7421695883de8632221c5_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzExLTEyLTEtMS01MTA0NDI_275c2632-7008-4069-942c-a476856510f7">607</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifff6868d89e846e09ad9c1b23898cebd_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzExLTEzLTEtMS01MTA0NDI_f174a871-2c37-4aa3-8512-25b658317526">170</ix:nonFraction>)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzExLTE0LTEtMS01MTA0NDI_ab05762a-6aca-4874-9e6d-0123201052d3">437</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity for continuing hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1c94432b09c14a1aac77e15d29678395_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEyLTEtMS0xLTUxMDQ0Mg_22b51a1b-c4a6-4f4a-a3ca-1f51ebc54759">7</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0409b90a313044da93086e4fd5eaa6d0_I20211231" decimals="-6" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEyLTItMS0xLTUxMDQ0Mg_b18001eb-ae49-4a2b-bad1-d41cc5f87472">211</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9780540b4bbf4925b30289b0e82d50c4_I20211231" decimals="-6" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEyLTQtMS0xLTUxMDQ0Mg_f730d788-9847-44da-a87d-a11c428e253b">705</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i984ce1c8a21540dda5194908fedc05d5_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEyLTEwLTEtMS01MTA0NDI_2bc9a451-0c9a-4af1-8c79-8b8d92df070c">5</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea434ebc58f7421695883de8632221c5_I20211231" decimals="-6" name="tef:HedgesinEquityContinuingHedges" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEyLTEyLTEtMS01MTA0NDI_f26136d7-0f8d-49b1-8d17-d48f4d0c40e4">720</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1c94432b09c14a1aac77e15d29678395_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEzLTEtMS0xLTUxMDQ0Mg_d14c4a82-ee24-4813-bed7-19a52f32c091">63</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0409b90a313044da93086e4fd5eaa6d0_I20211231" decimals="-6" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEzLTItMS0xLTUxMDQ0Mg_7fdbf690-9216-408f-b620-97e39e10fd2e">36</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic79a8f11e59442efb16b67b97286cc47_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEzLTMtMS0xLTUxMDQ0Mg_71f16867-1794-434c-a3c4-0238f7a31e8e">86</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9780540b4bbf4925b30289b0e82d50c4_I20211231" decimals="-6" name="tef:HedgesinEquityHedgingNoLongerNeeded" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEzLTQtMS0xLTUxMDQ0Mg_413bd319-8d3e-4b0f-af04-645ae4704ec6">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i984ce1c8a21540dda5194908fedc05d5_I20211231" decimals="-6" name="tef:HedgesinEquityHedgingNoLongerNeeded" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEzLTEwLTEtMS01MTA0NDI_f8b29c4b-688c-4ee1-91a2-8b662cd3f69a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iea434ebc58f7421695883de8632221c5_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquityHedgingNoLongerNeeded" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzEzLTEyLTEtMS01MTA0NDI_06c0161a-a5a7-4c4e-8893-1e8711ab471c">113</ix:nonFraction>)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1c94432b09c14a1aac77e15d29678395_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzE0LTEtMS0xLTUxMDQ0Mg_07cfa476-7be7-412b-a720-2e9f3d4f127d">70</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0409b90a313044da93086e4fd5eaa6d0_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzE0LTItMS0xLTUxMDQ0Mg_dc1e48d3-4a41-4857-a1ca-76cc0c8cd157">247</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic79a8f11e59442efb16b67b97286cc47_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzE0LTMtMS0xLTUxMDQ0Mg_29a69da3-ee53-40b7-af0c-eee82d7466c9">270</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9780540b4bbf4925b30289b0e82d50c4_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzE0LTQtMS0xLTUxMDQ0Mg_ebe6f5c4-ed41-47e2-a7ef-c11b8feab06a">705</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i984ce1c8a21540dda5194908fedc05d5_I20211231" decimals="-6" sign="-" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzE0LTEwLTEtMS01MTA0NDI_0843706c-1217-4f22-9995-8ca4e2a269fe">5</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea434ebc58f7421695883de8632221c5_I20211231" decimals="-6" name="tef:HedgesinEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxN2ExYTExYmI0OTQ0ZjcxOGE1OTg0MWQwN2Y0MDE4OC90YWJsZXJhbmdlOjE3YTFhMTFiYjQ5NDRmNzE4YTU5ODQxZDA3ZjQwMTg4XzE0LTEyLTEtMS01MTA0NDI_4b1bf36f-5732-4a58-8d41-7cba9184ec76">607</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></ix:continuation></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><ix:continuation id="i7c443942d0e94f2eb9ac5fbcec94e39d" continuedAt="i8ae5486e3cf34e83b7b0469edd7c4eb4"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolution of cost of hedging in equity in 2022 and 2021 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:42.209%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.158%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.130%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.161%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total gross amount<br/></span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect <br/></span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total cost of hedging in equity<br/></span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Forward element /CBS</span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">A time - period related hedge item</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1bbccedde9694c0c8e22a2cb71d6ad60_I20201231" decimals="-6" sign="-" name="tef:Costofhedginginequity" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzMtMi0xLTEtNTEwNDQy_3a8ba6b3-406e-4876-9a05-7932b7ae37d2">75</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie5b6867acdb34c80803e069c8a091c81_I20201231" decimals="-6" name="tef:Costofhedginginequity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzMtMy0xLTEtNTEwNDQy_0195d4ae-4e9b-4804-8006-a3faf66e3be5">19</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" sign="-" name="tef:Costofhedginginequity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzMtNC0xLTEtNTEwNDQy_2c740e5f-30a8-46d2-bb64-e2f00050ffc9">56</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7c296c08811340eb97ae574be2e38300_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinFairValueofCostofHedginginEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzQtMy0xLTEtNTEwNDQy_ebfe2254-3fce-4396-8bb0-53528318180c">32</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseinFairValueofCostofHedginginEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzQtNC0xLTEtNTEwNDQy_ee570077-2a56-4f51-bd30-ff365f80ad34">96</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ice739f68fbfb4a6993bf65ba4edf714a_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzUtMS0xLTEtNTEwNDQy_d1207292-9a22-49e6-acae-47b4be364a6d">10</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i42731e27eb4c42038e635ee532189a3c_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzUtMi0xLTEtNTEwNDQy_83f401f6-777c-48a8-bfb0-3250ef991a63">10</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7c296c08811340eb97ae574be2e38300_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzUtMy0xLTEtNTEwNDQy_0778b11d-9eda-47f6-95c3-d9e15a18c4db">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzUtNC0xLTEtNTEwNDQy_26bb61bd-166e-4cef-9b4b-bc158a609bb5">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzYtNC0xLTEtNTEwNDQy_9c2a37ad-591d-415d-b47a-f7f99212d636">32</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ida7c428d540043a08763608761f13192_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinFairValueofCostofHedginginEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzctMi0xLTEtNTEwNDQy_43a572ee-2e42-4285-b526-573fc42824a7">59</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d8b042df13c4ae8ae9c97828998dc63_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseinFairValueofCostofHedginginEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzctMy0xLTEtNTEwNDQy_6778e8b9-036f-4379-8845-1a34fd9de8ef">15</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinFairValueofCostofHedginginEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzctNC0xLTEtNTEwNDQy_81bba601-313e-44cc-8338-fda81d1b4d25">44</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzgtMy0xLTEtNTEwNDQy_7872316c-4d39-4fbb-9320-510551639266">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzgtNC0xLTEtNTEwNDQy_4712606d-bc77-4ea5-9d57-90d79ab9a180">7</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iefd7a28c37d741039600b17141a40739_I20221231" decimals="-6" sign="-" name="tef:Costofhedginginequity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzktMi0xLTEtNTEwNDQy_f4f69f56-4d1a-40a6-a515-06e5f858a63f">25</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia7d6cc55b4c84c778fb26e507da1e5cc_I20221231" decimals="-6" name="tef:Costofhedginginequity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzktMy0xLTEtNTEwNDQy_eb51e39f-ecee-4809-a566-905e27e83b46">6</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" sign="-" name="tef:Costofhedginginequity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTo1N2NkYTk5YWJkNTY0NmE0YWVmMTRlYzZkZGZkMjEyMC90YWJsZXJhbmdlOjU3Y2RhOTlhYmQ1NjQ2YTRhZWYxNGVjNmRkZmQyMTIwXzktNC0xLTEtNTEwNDQy_2c25ec25-92e0-4aea-870a-6c00d546b71f">19</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-99</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib93519e58eab4a68be036f4a317d8d67"><ix:continuation id="i8ae5486e3cf34e83b7b0469edd7c4eb4"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The details of the ineffective portion of accounting hedges with impact on the income statement in 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.147%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.963%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.813%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.677%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in fair value of the hedging instrument</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in the fair value of hedges item for the hedged risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ineffective portion hedged registered in the income statement</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6c95604439ce4f9a9e655e394662bef8_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzMtMS0xLTEtNTEwNDQy_61b851d6-703f-4d0d-b8e6-69c41ddc7c8a">1,257</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6c95604439ce4f9a9e655e394662bef8_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzMtMi0xLTEtNTEwNDQy_284b2f8f-7620-44d8-bf4a-fef119ac2f54">1,238</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6c95604439ce4f9a9e655e394662bef8_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2afb16f939674320a00bfe3c22e93c40_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzQtMS0xLTEtNTEwNDQy_6ef8e7e0-97e6-4e7d-b062-e3833a9c6e4b">35</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2afb16f939674320a00bfe3c22e93c40_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzQtMi0xLTEtNTEwNDQy_f681ec50-88cc-4a54-b683-32edf7cdcca6">35</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2afb16f939674320a00bfe3c22e93c40_D20220101-20221231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzQtMy0xLTEtNTEwNDQy_0dd2d273-36ce-48fe-ba5a-c1e4e81414ea">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i267500cb86224b4b9c5d05580e2172ce_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzUtMS0xLTEtNTEwNDQy_1ae3a149-2dac-4d5d-98b7-190fba5a7e65">1,292</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i267500cb86224b4b9c5d05580e2172ce_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzUtMi0xLTEtNTEwNDQy_570db525-d166-4837-975c-c4605f319465">1,273</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i267500cb86224b4b9c5d05580e2172ce_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzUtMy0xLTEtNTEwNDQy_71cd2eed-0880-4831-9008-f897e2606a28">19</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i33a37d36ed0f462c950c16efa7d8b51b_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzYtMS0xLTEtNTEwNDQy_8ded96c2-51db-47ad-8c51-cf94d705bab3">8</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i33a37d36ed0f462c950c16efa7d8b51b_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzYtMi0xLTEtNTEwNDQy_5bee24b9-c137-4822-bdc5-77352d9790e5">8</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i33a37d36ed0f462c950c16efa7d8b51b_D20220101-20221231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzYtMy0xLTEtNTEwNDQy_157e38e6-5e58-4569-a43c-4b9b9f00a22e">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1141b343e23e4c73bf82a51daec6ae0c_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzctMS0xLTEtNTEwNDQy_119331e1-52bb-4c89-9c11-d1786c05720b">1,108</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1141b343e23e4c73bf82a51daec6ae0c_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzctMi0xLTEtNTEwNDQy_11188fde-a6b8-4fb0-9df7-a7faa0d92376">1,108</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1141b343e23e4c73bf82a51daec6ae0c_D20220101-20221231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzctMy0xLTEtNTEwNDQy_46d61d08-a7d8-4d83-8622-ee97e6d5daf1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investment hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i98747aa093c44db78d4776fdb4ce3b57_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzktMS0xLTEtNTEwNDQy_42d76f2f-e75b-4086-8b7c-d26e56667e76">1,116</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i98747aa093c44db78d4776fdb4ce3b57_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzktMi0xLTEtNTEwNDQy_38cde3c5-9303-4d6b-b1ae-728f50ab0346">1,116</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i98747aa093c44db78d4776fdb4ce3b57_D20220101-20221231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzktMy0xLTEtNTEwNDQy_45e3ec0b-7583-4ee9-8b16-dc5f99ad3bd4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if5849b9d028544c58edd6ba3bf577fc9_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzEwLTEtMS0xLTUxMDQ0Mg_db9c14c6-4493-47f5-ae28-9c0acb4b4f78">462</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if5849b9d028544c58edd6ba3bf577fc9_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzEwLTItMS0xLTUxMDQ0Mg_f452023c-7111-4f5f-b27f-65968f0880df">475</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if5849b9d028544c58edd6ba3bf577fc9_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzEwLTMtMS0xLTUxMDQ0Mg_6500e896-4ae7-4367-aa20-a8f7efd4edeb">13</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i844a0f4f4b924b029874f3ced5980d30_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzExLTEtMS0xLTUxMDQ0Mg_0ad27d92-a089-4c37-8420-bfc2481a505d">462</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i844a0f4f4b924b029874f3ced5980d30_D20220101-20221231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzExLTItMS0xLTUxMDQ0Mg_bbaab152-7519-4361-9cc9-cf881412f58a">475</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i844a0f4f4b924b029874f3ced5980d30_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzExLTMtMS0xLTUxMDQ0Mg_812f7ffb-df07-4fc8-aae3-5c19e279acb5">13</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzEzLTEtMS0xLTUxMDQ0Mg_ad821804-d26c-418e-ab5f-5e41e4a4018c">803</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzEzLTItMS0xLTUxMDQ0Mg_821d5c01-6046-43dc-9472-7615efe58b0d">771</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZTphMWI1MDNiNThhOWM0NmI5YTI4YjkwNDdmNzIyOTllMy90YWJsZXJhbmdlOmExYjUwM2I1OGE5YzQ2YjlhMjhiOTA0N2Y3MjI5OWUzXzEzLTMtMS0xLTUxMDQ0Mg_d64fe4d9-89f5-4233-a3c4-9ce108395c84">32</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.147%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.963%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.813%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.677%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in fair value of the hedging instrument</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in the fair value of hedges item for the hedged risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ineffective portion hedged registered in the income statement</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibce1d7db5bde4d619aad8c617355a1f4_D20210101-20211231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzMtMS0xLTEtNTEwNDQy_b19447a1-daba-4fd3-b5dd-7c5296b2fe5c">142</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibce1d7db5bde4d619aad8c617355a1f4_D20210101-20211231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzMtMi0xLTEtNTEwNDQy_61a36f5f-2149-4866-9270-9b9620cab031">143</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibce1d7db5bde4d619aad8c617355a1f4_D20210101-20211231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzMtMy0xLTEtNTEwNDQy_8d2e7f0e-8ad0-4da5-855b-0cfc277c704a">1</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i01e6e64d3f0d42c4a35294d104b4efd9_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzQtMS0xLTEtNTEwNDQy_8dad35ec-46bc-4efa-a270-36a89acdecba">8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i01e6e64d3f0d42c4a35294d104b4efd9_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzQtMi0xLTEtNTEwNDQy_8046bfd1-1798-418a-bb00-ebcadf7488cb">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i01e6e64d3f0d42c4a35294d104b4efd9_D20210101-20211231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzQtMy0xLTEtNTEwNDQy_c8c3ff1c-0562-4025-b2ea-75337bd7b58c">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibef0e7a1f3f9466785ff2d54b8b314f5_D20210101-20211231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzUtMS0xLTEtNTEwNDQy_5af8aebb-a276-444b-a4b2-ddcc8ee2b100">150</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibef0e7a1f3f9466785ff2d54b8b314f5_D20210101-20211231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzUtMi0xLTEtNTEwNDQy_72f9d8fc-dea1-4548-9854-333a112407b9">150</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibef0e7a1f3f9466785ff2d54b8b314f5_D20210101-20211231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzUtMy0xLTEtNTEwNDQy_31def84c-02dc-4479-819c-c09a9d7922d5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ice739f68fbfb4a6993bf65ba4edf714a_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzYtMS0xLTEtNTEwNDQy_6c25643a-8c30-47b8-85c8-1f1e94302402">960</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ice739f68fbfb4a6993bf65ba4edf714a_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzYtMi0xLTEtNTEwNDQy_6c1cb78d-d1b3-4992-a564-cc9f30a2d997">994</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ice739f68fbfb4a6993bf65ba4edf714a_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzYtMy0xLTEtNTEwNDQy_fa270fda-f9e6-4417-9c64-bcf375ddfb96">34</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib8da85fc2ee14a6a9229f9349e770e2b_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzctMS0xLTEtNTEwNDQy_2d1a9261-568a-4e0a-bfe6-98958ebae69d">1,510</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib8da85fc2ee14a6a9229f9349e770e2b_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzctMi0xLTEtNTEwNDQy_3611ffdd-fd2b-46be-91a5-49df20fae777">1,544</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib8da85fc2ee14a6a9229f9349e770e2b_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzctMy0xLTEtNTEwNDQy_aa126663-a1d8-46c2-850d-b2765d661b7c">34</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investment hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id49c2a1ca576478d8130b5900144f328_D20210101-20211231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzktMS0xLTEtNTEwNDQy_254897ce-ab73-4f60-a41a-0f88421fd19e">550</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id49c2a1ca576478d8130b5900144f328_D20210101-20211231" decimals="-6" sign="-" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzktMi0xLTEtNTEwNDQy_0e28c4b0-3938-4a33-8de0-30c3592aeb1d">550</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id49c2a1ca576478d8130b5900144f328_D20210101-20211231" decimals="-6" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzktMy0xLTEtNTEwNDQy_2385601f-26fb-439b-b66c-387d08921b4d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2612532830fd4f8db2ef0b837ca350de_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzEwLTEtMS0xLTUxMDQ0Mg_e280cb71-5b1b-4b16-93d6-319217e2eb86">412</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2612532830fd4f8db2ef0b837ca350de_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzEwLTItMS0xLTUxMDQ0Mg_ed5ad5b7-86dd-4e05-9e3a-85b35d86ee2a">418</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2612532830fd4f8db2ef0b837ca350de_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzEwLTMtMS0xLTUxMDQ0Mg_df95101c-d67f-4348-b707-eee498e1b1a3">6</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if1e698b79f944e23a4d81951781fccc7_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzExLTEtMS0xLTUxMDQ0Mg_76ac4e45-d71a-4a09-9248-54fa53e9561c">412</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if1e698b79f944e23a4d81951781fccc7_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzExLTItMS0xLTUxMDQ0Mg_888009ac-e953-4522-a850-098c26c1c642">418</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if1e698b79f944e23a4d81951781fccc7_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzExLTMtMS0xLTUxMDQ0Mg_2b77da83-5236-4d1c-bdeb-b94b77d5f671">6</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrument" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzEzLTEtMS0xLTUxMDQ0Mg_be127df2-4147-410d-84e5-da8b6221054a">1,230</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzEzLTItMS0xLTUxMDQ0Mg_1c3a7ded-f95f-43b3-9c3f-d2aef5cc5419">1,269</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90YWJsZToxMTZiYjRmOTZiMmI0NzQ3YWQwMmM0OTAwY2M1YTMzNS90YWJsZXJhbmdlOjExNmJiNGY5NmIyYjQ3NDdhZDAyYzQ5MDBjYzVhMzM1XzEzLTMtMS0xLTUxMDQ0Mg_3b4f7d17-5f4e-4ca2-9dd6-ee133a2192be">39</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:continuation></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-100</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_334"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 20. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfLeasesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzI2NzM_0a56fb89-4223-4b13-aa19-e59bc690dfac" continuedAt="ibf7ce3e0cf134ca0b3b827cd64a6f891" escape="true">Lease liabilities</ix:nonNumeric></span></div><div style="margin-bottom:9pt;padding-right:2.25pt;text-align:justify"><span><br/></span></div><ix:continuation id="ibf7ce3e0cf134ca0b3b827cd64a6f891" continuedAt="i7d6294f1ae6c4f7b8298cb1a1bf9f985"><div style="margin-bottom:9pt;padding-right:2.25pt"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:ExplanationOfDifferenceBetweenOperatingLeaseCommitmentsDisclosedApplyingIAS17AndLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16Explanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzI2NzU_aa046359-205d-4683-bfb5-8fb8415fff6f" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolution of lease liabilities in 2022 and 2021 were as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.203%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.597%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:LeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzEtMS0xLTEtNTEwNDQy_8eed7a6e-4f78-42dd-be14-3f88872e2461">8,070</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:AdditionstoLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzItMS0xLTEtNTEwNDQy_ab2a91d1-8bc7-4d8c-8970-37d7b2be30e0">2,487</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal and interests payments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PrincipalandInterestPaymentsofLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzQtMS0xLTEtNTEwNDQy_23a4f7e0-1039-4f9c-8952-a1f90622bcac">2,361</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments (Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PrincipalPaymentsonLeases" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzUtMS0xLTEtNTEwNDQy_0b95b967-85e9-4925-82ca-5a391d8a14ad">1,996</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interests payments (Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzYtMS0xLTEtNTEwNDQy_2d7c4546-6bde-4a4c-b8b4-4fec6b624dc6">365</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:DisposalsofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzgtMS0xLTEtNTEwNDQy_615ce712-0b11-4f89-b1d8-74280b11b4e3">59</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:RegistrationOfCompaniesLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzktMS0xLTEtNTEwNDQy_14335240-a76c-4013-af74-aeadf6da78cb">124</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued interests</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:AccruedInterestsofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzEwLTEtMS0xLTUxMDQ0Mg_7f3b4044-b260-4ba8-9279-c436b21230f8">393</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:TranslationDifferencesofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzExLTEtMS0xLTUxMDQ0Mg_6639547c-7aad-449c-9da1-9a3d9d95b5cc">246</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:TransfersandOthersofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzEyLTEtMS0xLTUxMDQ0Mg_367420b6-509b-49e5-9e4a-8c8f229686f4">223</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:LeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzEzLTEtMS0xLTUxMDQ0Mg_817ce1a9-f906-4ba7-911f-d390af8d1068">8,677</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.203%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.597%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:LeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzEtMS0xLTEtNTEwNDQy_4875a551-4b49-4560-b1b6-5d9148ee953d">5,294</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:AdditionstoLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzItMS0xLTEtNTEwNDQy_94b2c801-74fc-4bb2-b042-0ecb9619e58e">2,030</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of the towers division of Telxius</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:AdditionOfLeaseLiabilitiesSaleOfDivisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzMtMS0xLTEtNjk2Mzkw_782659e3-0c58-4b48-aff4-5865de80d318">2,650</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal and interests payments</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PrincipalandInterestPaymentsofLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzMtMS0xLTEtNTEwNDQy_44d6fc6e-1dd8-4041-9085-1b3a73677843">1,859</ix:nonFraction>)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments (Note 28)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PrincipalPaymentsonLeases" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzQtMS0xLTEtNTEwNDQy_910256ec-4683-42d2-8325-1fefdbe7e851">1,782</ix:nonFraction>)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interests payments (Note 28)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:InterestExpenseOnLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzUtMS0xLTEtNTEwNDQy_7587299e-9520-41fb-93cf-0c15da6c5a5c">246</ix:nonFraction>)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Minus: Payments of companies held for sale and sold companies during 2021</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsofCompaniesHeldforSaleandSoldCompaniesduringPeriodofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzYtMS0xLTEtNTEwNDQy_ad0d3b29-802d-40fd-ae57-944b1566d0bd">169</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:DisposalsofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzctMS0xLTEtNTEwNDQy_d779fdfc-5c24-47c8-9b90-ea0de85e68ca">288</ix:nonFraction>)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:RegistrationOfCompaniesLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzktMS0xLTEtNjk2Mzk1_e405d0d0-4ee7-4a5d-bf09-f2e9f44bf0ab">14</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued interests </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:AccruedInterestsofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzgtMS0xLTEtNTEwNDQy_aa7b6ef0-b59a-4a87-859f-8b07339a4021">259</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:TranslationDifferencesofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzktMS0xLTEtNTEwNDQy_66646efd-5ba6-49fc-a174-637b431d5ef3">29</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:TransfersandOthersofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzEwLTEtMS0xLTUxMDQ0Mg_30468294-637f-4e00-bf6b-e82f12271b2b">59</ix:nonFraction>)</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:LeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTpkOTAwZmJkZDRhYjY0MTFiYmExZDNhMTdmMDYwOWY5Zi90YWJsZXJhbmdlOmQ5MDBmYmRkNGFiNjQxMWJiYTFkM2ExN2YwNjA5ZjlmXzExLTEtMS0xLTUxMDQ0Mg_de471b07-0247-412d-add5-a32aaf24adff">8,070</ix:nonFraction></span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Total accrued interests in 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:AccruedInterestsOfLeaseLiabilitiesIncludingHeldForSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzM0Mg_59288a72-8549-4937-beef-7b7db76a59f3">274</ix:nonFraction> million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 19).</span></ix:nonNumeric></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" includes fixed asset sale and leaseback transactions, which amounted to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:AdditionstoLeaseLiabilitiesrelatedtoFixedAssetSaleandLeasebackTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzEzODQ_ed84d152-f2a0-4fdc-93e2-8cb80f2b5bc4">125</ix:nonFraction> million euros in 2022 (<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:AdditionstoLeaseLiabilitiesrelatedtoFixedAssetSaleandLeasebackTransaction" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE0MDg_ed027f67-05bc-44f1-aa3a-33560f32e73c">51</ix:nonFraction> million euros in 2021). The gain recorded in 2022 and 2021 for sale and leaseback transactions amounted to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE1MTI_08f400df-267b-4927-a724-75bb875c671d">381</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE1MzM_20da4b60-a9ea-4e57-a52f-a125f5deb119">263</ix:nonFraction> million euros, respectively (see Note 26).  </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business combinations" in 2022 include <ix:nonFraction unitRef="eur" contextRef="i4421a289a43c4af98b9cbc204cd74c74_D20220101-20221231" decimals="-6" name="tef:AdditionstoLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzIyNjQ_4ea7e32c-7c81-449e-a146-1fa341ecae3d">117</ix:nonFraction> million euros of lease liabilities related to the acquisition of rights of use of Oi (see Note 29), as well as, <ix:nonFraction unitRef="eur" contextRef="ia01c14fdc05841fc90c5eb404443b60e_D20220101-20221231" decimals="-6" name="tef:AdditionstoLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTU5NDQ_af83801c-f1fd-48fe-9941-d826b749f190">2</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="i95666ca12ee949c5ae662dcae046ad80_D20220101-20221231" decimals="-6" name="tef:AdditionstoLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTU5NDg_c172caaf-b475-480f-b610-558e3d8bccaa">5</ix:nonFraction> million euros for the incorporation of the Incremental group and the BE-terna group, respectively (see Note 2 and 5).</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business combinations" in 2021 corresponded to the acquisition of Cancom (see Note 5) amounted to <ix:nonFraction unitRef="eur" contextRef="ie8ea00d2594f47929fb9c8dd8f30fb25_D20210101-20211231" decimals="-6" name="tef:AdditionstoLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE2NDkyNjc0NDU4MjE_82551cd5-b86c-4c58-9fea-69153f401486">14</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">There are commitments for leases not started at December 31, 2022 amounting to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE2NDkyNjc0NTE2NzA_2dde1f3d-5422-4789-9e1b-987d9db4d03f">1,569</ix:nonFraction> million euros, mainly related to the sites construction agreement between Telef&#243;nica Germany GmbH and Telxius Towers Germany GmbH (at December 31, 2021 <ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE2NDkyNjc0NTE2Nzc_a0e9825a-b29d-4339-9f8d-b5b6d7fef4f9">1,307</ix:nonFraction> million euros). </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021 Telxius sold its telecommunications towers division to American Tower Corporation (see Note 2). The Telef&#243;nica Group operators maintained the leases agreements of the towers signed with the companies sold subsidiaries of Telxius. Consequently, as of the closing date of the transactions, lease liabilities were recorded in the consolidated statement of financial position in the amount of <ix:nonFraction unitRef="eur" contextRef="i9cf7fdb3eca34ead9fda409db6e18c36_I20211231" decimals="-6" name="ifrs-full:LeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTgxNjE_25f603f4-9241-4423-8f84-21e71eff6d91">2,775</ix:nonFraction> million euros. &#8220;Sale of the towers division of </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-101</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i7d6294f1ae6c4f7b8298cb1a1bf9f985"><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telxius&#8221; also includes the recognition of lease liabilities with third parties corresponding to the second phase of the sale agreement between Telefonica Germany and ATC in the amount of <ix:nonFraction unitRef="eur" contextRef="i0590d61d5feb427598ae3ba9c52c9aa5_D20210101-20211231" decimals="-6" name="tef:AdditionOfLeaseLiabilitiesSaleOfDivisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTgxNjk_d502857e-09bb-4909-96d6-41b2f0f86014">125</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Transfers and others" in 2022 includes the reclassification of lease liabilities on the shutdown site contracts of Pegaso PCS amounting to <ix:nonFraction unitRef="eur" contextRef="id904fb1691d94083bfc0349f12447a8b_D20210101-20211231" decimals="-6" name="tef:TransfersandOthersofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE2NDkyNjc0NTA3MDc_8dba61f2-4cc0-484e-8a6e-112e27ae6833">264</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Transfers and others" in 2021 included the reclassification of lease liabilities of Telef&#243;nica El Salvador amounted to <ix:nonFraction unitRef="eur" contextRef="ice4936c5db8d43aea61f72ce78e0fa1a_D20210101-20211231" decimals="-6" name="tef:TransfersandOthersofLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTgxOTg_20ff3f9a-9989-4f75-8381-fc6acf3476f7">43</ix:nonFraction> million euros to "Liabilities associated with non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzI2NjQ_f0e359ad-c725-40de-b8bf-fb75ccc32b04" escape="true"><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The maturity schedule of lease liabilities at December 31, 2022 is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.848%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.929%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.436%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></div></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-Current</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current total</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44343f125a1e48be9f9c0e7838a0d1b7_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtMS0xLTEtNTEwNDQy_0a1c70a3-228b-4f3e-b192-e9f2cb643fc9">2,107</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i225ee7f614314387a2ab4389ebd1488f_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtMi0xLTEtNTEwNDQy_36c4354a-ac01-4ff1-953c-128150cf8e69">1,700</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifd9484f117584541b944172ff01837e6_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtMy0xLTEtNTEwNDQy_2c65e3fb-4217-498b-bf19-9194556f5a5c">1,413</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b6eb3bbabb6445984a7bedd7e80fad6_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNC0xLTEtNTEwNDQy_216ed94e-f3d3-4a3f-9620-578c52903040">1,064</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4f1f7d197c8540af957db739a0d0d910_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNS0xLTEtNTEwNDQy_d268426c-2217-413f-928c-de17b64a7aed">851</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib70fde8ff1bf43639c7e96d04ca1df7b_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNi0xLTEtNTEwNDQy_5a83b4cd-d17a-4f92-bc91-e85924560a6b">2,173</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i50b8a3907abb40249e04f138ad89cd0b_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNy0xLTEtNTEwNDQy_d2c92ed7-3aac-4a39-b5a1-e334ef9bac97">7,201</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtOC0xLTEtNTEwNDQy_d2bf8c76-b66f-49cf-ad52-390a153b7377">9,308</ix:nonFraction></span></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-102</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_337"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 21. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE4NTg_7d6d0d0c-3a0f-4f1f-bf94-5bd577874fab" continuedAt="i1fd5bea3fffc4e53a2f1b1e29053d9eb" escape="true">Payables and other non-current liabilities</ix:nonNumeric></span></div><ix:continuation id="i1fd5bea3fffc4e53a2f1b1e29053d9eb"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureoftheCompositionofPayablesandOtherNonCurrentLiabilitiesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE4ODc_6ebc183d-2a5a-4ab7-8256-3b7461cfe54e" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of &#8220;Payables and other non-current liabilities&#8221; of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.537%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentPayables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEtMS0xLTEtNTEwNDQy_49720956-26cc-46cf-8895-17dff0a4ce93">1,914</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentPayables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEtMi0xLTEtNTEwNDQy_4d11f1f1-f0a1-4216-be00-3174a473f28f">1,733</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentPayablesToTradeSuppliers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzItMS0xLTEtNTEwNDQy_62336758-5c5f-4989-84ec-995ccab3cfe0">463</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentPayablesToTradeSuppliers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzItMi0xLTEtNTEwNDQy_4b322fdc-6042-4030-97f3-af63ff7695cc">236</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables for spectrum acquisition</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:LongtermBorrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzQtMS0xLTEtNTEwNDQy_221a1a70-07e2-4567-9426-54dc280047b6">1,293</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:LongtermBorrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzQtMi0xLTEtNTEwNDQy_fdb8a1f2-be8c-4975-97b7-03942351965f">1,361</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherNoncurrentPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzUtMS0xLTEtNTEwNDQy_072200c9-ed8f-460a-ad90-7571500b2be1">158</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherNoncurrentPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzUtMi0xLTEtNTEwNDQy_773c475d-1c78-4c58-add1-9c88f3b27c83">136</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other non-current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzgtMS0xLTEtNTEwNDQy_c76c5bbb-4462-499d-b6e4-71860de17168">1,632</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzgtMi0xLTEtNTEwNDQy_bc3c658c-9df3-4a15-8e92-0cd5fb4fd0db">1,356</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities (Note 23)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzktMS0xLTEtNTEwNDQy_963a304f-f5d1-46b0-b21a-303d2636fa1d">891</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzktMi0xLTEtNTEwNDQy_1ae369b5-25e6-4e3f-973d-fcc3b9d82e27">829</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred revenue</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEwLTEtMS0xLTUxMDQ0Mg_67b591f0-bc46-45bf-abf5-3a192637b3d7">199</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEwLTItMS0xLTUxMDQ0Mg_fd089a32-5718-48f3-b23b-4d5cd59f0fec">217</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current tax payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentTaxPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzExLTEtMS0xLTUxMDQ0Mg_249f388b-b57e-4c5d-b306-186bb0fb6fff">542</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentTaxPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzExLTItMS0xLTUxMDQ0Mg_bd76ad83-44ce-42b5-acd4-16aa3a02e0e3">310</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEyLTEtMS0xLTUxMDQ0Mg_2369f2a3-3e52-4f59-b222-0fa549bc42e5">3,546</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEyLTItMS0xLTUxMDQ0Mg_38818f5c-9626-4836-a4a1-ca22b2a01c8e">3,089</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleOfNonCurrentPortionOfLongTermDebtTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQyMzMxMTk3NjgwNTE5_546b6705-65b4-4951-b16d-b10a4e5c3be5" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Non-currrent debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.537%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i90ec933d384748fc92a09e02c5a09175_I20221231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzEtMS0xLTEtODI0NTY5_d1da2858-f62a-455d-b9e1-8f848e265a9c">74</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5dc9bd49812f4c418bf55e72e8e5fef1_I20211231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzEtMi0xLTEtODI0NTY5_f3312a2b-aed1-4021-8c7e-b2770a923249">79</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Colombia </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i158b781b1bcb46c8a055e110e51cbe77_I20221231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzItMS0xLTEtODI0NTY5_cb95ba45-3588-4d6f-b587-ebaf9d9ce240">85</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f354c085b7248318c35e39f6f6bb27e_I20211231" decimals="-6" name="ifrs-full:LongtermBorrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzItMi0xLTEtODI0NTY5_4c5ced45-5aeb-449c-9383-816c3bab4a70">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ed9e29ddf414611bba6c00005b6636a_I20221231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzMtMS0xLTEtODI0NTY5_0a8943d1-b4c1-4e64-8f71-6c48bc1b9dfb">243</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if50f05e924b444ab89168f44e6392140_I20211231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzMtMi0xLTEtODI0NTY5_e2dfc682-d0ea-4698-aa0f-edb98abf4767">292</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i21922cd8a4344ffba84a01f6c956aad2_I20221231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzQtMS0xLTEtODI0NTY5_e5181cd9-4b89-43a4-9fc6-8b0b9aee9212">891</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i483c12eaf9414d73be2ad1f575fe79eb_I20211231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzQtMi0xLTEtODI0NTY5_91f55216-5d63-4d8e-9bfa-6792410c7820">990</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:LongtermBorrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzYtMS0xLTEtODI0NTg3_e301e93a-6174-4096-a140-86f4c97a962e">1,293</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:LongtermBorrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToyODU0YzE5OWJmZDc0ZjE4OGY2NjllNDk2ZDAyYmY4ZS90YWJsZXJhbmdlOjI4NTRjMTk5YmZkNzRmMTg4ZjY2OWU0OTZkMDJiZjhlXzYtMi0xLTEtODI0NTg3_5833b1f6-a742-4f8d-8249-b25e26bd0346">1,361</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The outstanding liabilities at December 31, 2022 from the acquisition of spectrum licenses by Telef&#243;nica Brazil in November 2021 (see Note 6) amounted to <ix:nonFraction unitRef="brl" contextRef="ie876a4093fb0450ba1ae9a6e922d6728_I20221231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIxNDg_64f296cc-0cc2-4622-bac3-3a937a7d1df1">1,844</ix:nonFraction> million Brazilian real (<ix:nonFraction unitRef="eur" contextRef="ie876a4093fb0450ba1ae9a6e922d6728_I20221231" decimals="-6" name="ifrs-full:Liabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIxNTY_8f864126-399f-4d80-9545-98937e98b106">331</ix:nonFraction> million euros) including <ix:nonFraction unitRef="brl" contextRef="ie876a4093fb0450ba1ae9a6e922d6728_I20221231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIxNjI_d91d2f2e-c560-4b3c-88f0-d7f2b4a14968">1,192</ix:nonFraction> million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="ie876a4093fb0450ba1ae9a6e922d6728_I20221231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIxNzA_c19ed6ec-062e-4fe9-a9f9-9d738a6665ea">214</ix:nonFraction> million euros) are classified as non-current. At December 31, 2021, outstanding liabilities amounted to <ix:nonFraction unitRef="brl" contextRef="id6174d30d8f34b6f84f4c4d57a1b9325_I20211231" decimals="-6" name="ifrs-full:Liabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIxNzg_92f8b688-db95-4368-8ee3-3024ee30e71b">4,451</ix:nonFraction> million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="id6174d30d8f34b6f84f4c4d57a1b9325_I20211231" decimals="-6" name="ifrs-full:Liabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIxODY_67074d07-a8bf-4f0d-a60f-66d0503c0f94">704</ix:nonFraction> million euros at exchange rate of 2021), including <ix:nonFraction unitRef="brl" contextRef="id6174d30d8f34b6f84f4c4d57a1b9325_I20211231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIxOTQ_3efce6fa-cb7b-4b4f-9d1b-9b6a71e63e0b">1,704</ix:nonFraction> million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="id6174d30d8f34b6f84f4c4d57a1b9325_I20211231" decimals="-6" name="tef:NoncurrentPayablesAndOtherNoncurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzQzOTgwNDY1MjIyMDI_df09bb35-466c-4ac7-ba39-e10f16842d88">270</ix:nonFraction> million euros at closing exchange rate of 2021) were classified as non-current.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2019 Telef&#243;nica Germany acquired a total of 90 MHz spectrum at a cost of <ix:nonFraction unitRef="eur" contextRef="i95a15f5c308e4f43be914a92249f67f9_D20190601-20190630" decimals="-6" name="ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzg1NQ_b396900b-ba50-4cd4-8a33-a81f8617e909">1,425</ix:nonFraction> milli</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">on euros. The Company, like the other auction participants, reached an agreement to defer payments in interest-free annual installments until 2030, instead of an upfront one-time payment (see Appendix VI). In 2022 and 2021, payments amounting to <ix:nonFraction unitRef="eur" contextRef="i908129da61864db4994f4913f38bbac0_D20210101-20211231" decimals="-6" name="tef:PaymentOnBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzExMjM_7b45bb80-2b23-4ccc-ada3-9b6da2b8b0ae"><ix:nonFraction unitRef="eur" contextRef="i54a211c5e03e45c3a7156791f83c2a6b_D20220101-20221231" decimals="-6" name="tef:PaymentOnBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzExMjM_d6d452e4-4029-4560-b099-5b6b9316935c">108</ix:nonFraction></ix:nonFraction> million euros have been made each year (see Note 28). The current value of the debt at December 31, 2022 amounted to <ix:nonFraction unitRef="eur" contextRef="i1db46ee56cb24cd5be0a98ce03c08898_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEyNDc_f5d68d61-cb24-4354-a74f-6a7872248bbe">998</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ic039c794a7dd4720b082710f944f3f5e_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEyNjU_54ba6b39-43f5-4595-81af-6fdf7cdf0ab7">1,097</ix:nonFraction> million euros at December 31, 2021), <ix:nonFraction unitRef="eur" contextRef="i1db46ee56cb24cd5be0a98ce03c08898_I20221231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEyOTA_687a8f3e-7cc5-473e-86b1-b3e09a0e086c">891</ix:nonFraction></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros have a maturity of more than twelve months (<ix:nonFraction unitRef="eur" contextRef="ic039c794a7dd4720b082710f944f3f5e_I20211231" decimals="-6" name="ifrs-full:LongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEzNTE_42159943-5ae4-46ac-b7bb-558aca63fc7a">990</ix:nonFraction> million euros at December 31, 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments for financed licenses for the years 2022 and 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="i06bb91b9833a4f5ea7df71f5f9c3568d_D20220101-20221231" decimals="-6" name="tef:PaymentOnBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE2NjU_b66887e6-271d-41e9-b965-60306b4987cb">657</ix:nonFraction> and <ix:nonFraction unitRef="eur" contextRef="id2f0ec7853814ac69762ab6fc450f027_D20210101-20211231" decimals="-6" name="tef:PaymentOnBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE2NzI_43563045-c56e-4da3-a03d-fa0f06789492">165</ix:nonFraction> million euros, respectively (see Note 28).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Deferred revenues&#8221; include grants amounting to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentGovernmentGrants" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE3Njc_436931f4-b9b9-40ea-a873-cee931ec36e6">53</ix:nonFraction> million euros at December 31, 2022 (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentGovernmentGrants" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE4MDQ_097e21db-9542-4a44-9145-d12c60ff8b63">55</ix:nonFraction> million euros at December 31, 2021).</span></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-103</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_340"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 22. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxMzI_cf702d0c-7bc2-4de5-9b0f-27f7eb9da00b" continuedAt="ia9899ee8319641dd8786fb10ef6b5854" escape="true">Payables and other current liabilities</ix:nonNumeric></span></div><ix:continuation id="ia9899ee8319641dd8786fb10ef6b5854" continuedAt="i85fb4ef468bb4a4ea31efff0a0974b22"><div style="margin-top:9pt"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleOfCompositionOfPayablesAndOtherCurrentLiabilitiesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxNTc_2bea81ad-b0e9-4a82-b83e-d3e31cd131f1" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of &#8220;Payables and other current liabilities&#8221; at December 31, 2022 and December 31, 2021 is as follows:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:63.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.643%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzEtMS0xLTEtNTEwNDQy_7d8a52bd-a671-44b1-ac46-cd653049db74">12,018</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzEtMi0xLTEtNTEwNDQy_25ed8e40-2976-4d6a-aee4-c210ac41e155">11,872</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzItMS0xLTEtNTEwNDQy_3c974754-400b-4388-ae6e-662e33dee6ef">7,545</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzItMi0xLTEtNTEwNDQy_c8ac3df0-92d6-4c92-b9b8-2925560427a9">6,982</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to suppliers of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentPayablesForPurchaseOfNoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzMtMS0xLTEtNTEwNDQy_19e013a3-2750-4b5c-a8d5-c4b5f1c129e9">2,841</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentPayablesForPurchaseOfNoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzMtMi0xLTEtNTEwNDQy_6d1c4361-3a63-4827-8cd4-79fbb7cc5721">2,752</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables for spectrum acquisition</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzQtMS0xLTEtNTEwNDQy_48222723-55ec-43a8-8552-651f54f812da">248</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzQtMi0xLTEtNTEwNDQy_4ed00fb6-496f-4a73-a6c5-5c223d6d10a4">569</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherCurrentPayables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzUtMS0xLTEtNTEwNDQy_38ed5bba-bfb5-44b8-802d-adc4e732e863">1,088</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherCurrentPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzUtMi0xLTEtNTEwNDQy_819f9e1e-6bd3-4485-9aa5-82c57d8d01b6">997</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends pending payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentDividendPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzYtMS0xLTEtNTEwNDQy_0fbc410f-016b-40fd-bee7-e1b2b98cb6c4">203</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentDividendPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzYtMi0xLTEtNTEwNDQy_bcbabe91-5638-4162-bf88-75e301635d08">228</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzctMS0xLTEtNTEwNDQy_c8b743a1-b807-4632-9627-689ddfb9b203">93</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzctMi0xLTEtNTEwNDQy_8ea382af-2617-4a12-ad67-d9a32c272102">344</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzktMS0xLTEtNTEwNDQy_e92d70a4-d11b-4e19-a34f-bb9aeff08a03">1,491</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzktMi0xLTEtNTEwNDQy_da9ada47-16e1-4ca6-814b-7f513b5298b5">1,338</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract liabilities (Note 23)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzEwLTEtMS0xLTUxMDQ0Mg_5880e9a8-6b58-4b29-88a2-a54ab90b1458">1,038</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzEwLTItMS0xLTUxMDQ0Mg_9e68fe0d-b364-4918-b340-eeaae793c541">958</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred revenue </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentDeferredIncomeOtherThanCurrentContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzExLTEtMS0xLTUxMDQ0Mg_f6727ff1-070d-4810-aaef-7651dac941d2">102</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentDeferredIncomeOtherThanCurrentContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzExLTItMS0xLTUxMDQ0Mg_d9d0e40a-6c93-46a5-8128-6e8fd02b1493">115</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Advances received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentAdvances" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzEyLTEtMS0xLTUxMDQ0Mg_9411154f-8f53-4635-bf47-1c46138af5b3">350</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentAdvances" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzEyLTItMS0xLTUxMDQ0Mg_7bb7d21c-0e3e-4e8a-9f3f-9f9fb71677ad">265</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities to associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:OtherLiabilitiesAssociatesAndJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzEzLTEtMS0xLTUxMDQ0Mg_696a3283-1632-4377-ac9d-cff3a5c5518c">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentPayablesAndOtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzE0LTEtMS0xLTUxMDQ0Mg_09037a8b-e333-487e-9a6b-791f8a44fbdd">13,509</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentPayablesAndOtherCurrentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTpiMTAzMjg1ZmM0MDY0NWJjYmFiMDljOTQzMDg2Zjc5MC90YWJsZXJhbmdlOmIxMDMyODVmYzQwNjQ1YmNiYWIwOWM5NDMwODZmNzkwXzE0LTItMS0xLTUxMDQ0Mg_d8f05bcd-7591-46e9-858e-b8dbdce14dcb">13,210</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td></tr></table></ix:nonNumeric></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleOfCurrentPortionOfLongTermDebtTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzU2MDc1MDkzMDI1ODEx_8b5c1e5e-ae4b-469c-b47c-5cb2eb749363" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Current debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:71.627%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.537%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i21922cd8a4344ffba84a01f6c956aad2_I20221231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzEtMS0xLTEtODI0OTU2_9ef40e94-6e48-4f87-9c93-3426d614f6a9">107</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i483c12eaf9414d73be2ad1f575fe79eb_I20211231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzEtMi0xLTEtODI0OTU2_45c4c21d-a290-4134-becc-d3376021f637">107</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Colombia </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i158b781b1bcb46c8a055e110e51cbe77_I20221231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzItMS0xLTEtODI0OTU2_2a3115ee-17ca-42d4-b29c-7c777855ac2a">17</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f354c085b7248318c35e39f6f6bb27e_I20211231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzItMi0xLTEtODI0OTU2_a0ae3b46-f2c2-4863-ae69-931b733fec61">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ed9e29ddf414611bba6c00005b6636a_I20221231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzMtMS0xLTEtODI0OTU2_44bd3a5a-fe5f-47f4-9453-b3b0a21bd166">117</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if50f05e924b444ab89168f44e6392140_I20211231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzMtMi0xLTEtODI0OTU2_f2b6cd4c-dd16-4ce2-976c-7b69df5f008c">434</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i90ec933d384748fc92a09e02c5a09175_I20221231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzQtMS0xLTEtODI0OTU2_5e44f943-5d32-45d9-8304-7eae8e32e1f3">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5dc9bd49812f4c418bf55e72e8e5fef1_I20211231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzQtMi0xLTEtODI0OTU2_4a650395-414b-4dcf-84a1-dbeda3133725">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1149d6ae1cd745e2975a8f961039e12e_I20221231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzUtMS0xLTEtODI0OTU2_ae08feba-59da-42d2-a8c0-e2983210592d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia07d026991184e32ac5e5b704e26c3c9_I20211231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzUtMi0xLTEtODI0OTU2_206f8ee0-a982-4b3b-b5f8-c4c88870d0f6">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzYtMS0xLTEtODI0OTU2_217390ca-4028-4057-90bf-a61a69147494">248</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentPortionOfLongtermBorrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZToyNzNmYmQ0NzczZTk0OTNlYWUwZGQyM2ZlYzYzMTdkYS90YWJsZXJhbmdlOjI3M2ZiZDQ3NzNlOTQ5M2VhZTBkZDIzZmVjNjMxN2RhXzYtMi0xLTEtODI0OTU2_76b9a862-0f7f-4c9f-b585-433ed988dd58">569</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 and December 31, 2021, &#8220;Payables for spectrum acquisition&#8221;, includes the debt maturing within twelve months of the spectrum licenses in Telef&#243;nica Brazil adquired in November 2021 and the spectrum licenses in Telef&#243;nica Germany adquired in June 2019 (see Note 21). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Payables to associates and joint ventures" at December 31, 2021 included the obligation in relation to the O2 UK pension plans arising as a result of the constitution of VMED O2 UK Ltd amounted to <ix:nonFraction unitRef="gbp" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzExNjA_d0cc8cc6-544d-4405-884c-d32edc48d234">213</ix:nonFraction> million pounds sterling (<ix:nonFraction unitRef="eur" contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzExODg_745d56b7-d789-4411-9230-89dbdd150b23">253</ix:nonFraction> million euros at closing exchange rate of 2021, see Notes 10 and 29.c).</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Deferred revenue&#8221; includes grants amounting to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentGovernmentGrants" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzEzMTA_6a235121-7ada-4c2a-9404-bebfd9b4ae7f">17</ix:nonFraction> million euros at December 31, 2022 (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentGovernmentGrants" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzEzMzQ_c9da72dc-d509-4da0-81ab-d2229fefdb4c">12</ix:nonFraction> million euros at December 31, 2021). </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfCurrentOtherPayablesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxNTM_a50a80a9-18b2-4c93-93e4-a53d34b59141" continuedAt="i437e9900ad124423a5fd18d1915f47bb" escape="true">The composition of current "Other payables" at December&#160;31, 2022 and December&#160;31, 2021 is as follows:</ix:nonNumeric></span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-104</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i85fb4ef468bb4a4ea31efff0a0974b22" continuedAt="i3abbc50d184b41e2a04463f1dc8a6df7"><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i437e9900ad124423a5fd18d1915f47bb"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:41.798%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.450%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued employee benefits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:ShorttermEmployeeBenefitsAccruals" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzEtMS0xLTEtNTEwNDQy_19907588-82dc-44d0-a1c7-ddcd963baf5a">608</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:ShorttermEmployeeBenefitsAccruals" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzEtMi0xLTEtNTEwNDQy_42df11bd-8105-4a93-b848-b3dfd9692b39">516</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-financial non-trade payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:OtherCurrentNonFinancialNonTradePayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzItMS0xLTEtNTEwNDQy_f34e37bf-808e-47f8-bf26-edb93758ea0e">480</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:OtherCurrentNonFinancialNonTradePayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzItMi0xLTEtNTEwNDQy_b990c376-ae6d-4eab-8dff-d3fbc94a940c">481</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherCurrentPayables" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzMtMS0xLTEtNTEwNDQy_fc74c943-3fb9-475c-abd5-92434f7f443c">1,088</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherCurrentPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzMtMi0xLTEtNTEwNDQy_69e9f5bc-3c7f-44a7-87fe-c159877bd502">997</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Information on average payment period to suppliers. Third additional provision, &#8220;Information requirement&#8221; of Law 15/2010 of July 5, modified by Law 18/2022, of September 28. </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfAveragePaymentPeriodToSuppliersTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxNjE_4a9824aa-daae-4155-9493-ee4733289ff7" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with the aforementioned Law 15/2010, the following information corresponding to the Spanish companies of the Telef&#243;nica Group is disclosed:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:56.147%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.129%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.424%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of days</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted average maturity period</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" name="tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzItMS0xLTEtNTEwNDQy_f6365242-64fd-4e47-9b9d-c80153152f7f">53</ix:nonNumeric></span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" name="tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzItMi0xLTEtNTEwNDQy_c4ab1a9b-30e0-4a68-a344-3e8c33ce90c9">54</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of payments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" name="tef:RatioOfPayments" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzMtMS0xLTEtNTEwNDQy_f6db3bb4-3ebe-4095-8cdc-288a48cbb1ba">55</ix:nonNumeric></span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" name="tef:RatioOfPayments" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzMtMi0xLTEtNTEwNDQy_c974b17c-84cc-4b82-b380-b57c54519436">56</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of outstanding invoices</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" name="tef:RatioOfOutstandingInvoices" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzQtMS0xLTEtNTEwNDQy_65ac1fa9-94aa-4bfd-90e4-895ccd023354">42</ix:nonNumeric></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" name="tef:RatioOfOutstandingInvoices" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzQtMi0xLTEtNTEwNDQy_6ab91e02-9ebe-4068-9078-29c03559d0af">42</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsToSuppliersForGoodsAndServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzYtMS0xLTEtNTEwNDQy_9e4818b2-7621-435d-9917-81f770923a6d">8,362</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsToSuppliersForGoodsAndServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzYtMi0xLTEtNTEwNDQy_fd6ca0ef-4718-4869-84f8-a8958114e66f">7,671</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding invoices</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="tef:OutstandingInvoicesFromSuppliers" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzctMS0xLTEtNTEwNDQy_fd2bb1a0-24b1-4ed5-841b-a2af9fae94e3">1,251</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231" decimals="-6" name="tef:OutstandingInvoicesFromSuppliers" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzctMi0xLTEtNTEwNDQy_30f502fd-48ee-4a90-af0d-73e9b0bed281">1,264</ix:nonFraction></span></td></tr></table></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleOfChangesInProvisionLaw182022TableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzI3NDg3NzkwNzg2MTk_6da1fb03-4f5a-44fb-8255-9cacfb3dc321" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 19, 2022, Law 18/2022, of September 28, on the creation and growth of companies, came into force, which modifies the third additional provision of Law 15/2010. The new standard establishes the obligation to publish in annual accounts, in addition to the information already required, the monetary volume and number of invoices paid in a period less than the maximum established in the late payment regulations, and the percentage they represent of the total number of invoices and on the total monetary payments to your suppliers. This information for the 2022 financial year is shown below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:77.701%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.099%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monetary volume of invoices paid in a period less than the maximum established in the regulations (millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2d261dddf85d47fa87ad21cd6261f565_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsToSuppliersForGoodsAndServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzEtMS0xLTEtODk2Njg3_ea183f0b-32e1-487b-ac8d-c3a37507cefe">4,899</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage of total payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2d261dddf85d47fa87ad21cd6261f565_D20220101-20221231" decimals="2" name="tef:PaymentsToSuppliersForGoodsAndServicesToTotalPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzItMS0xLTEtODk2Njg3_f40511bb-0fc7-4bf8-85f3-5517a800fafa">59</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of invoices paid in a period less than the maximum established in the regulations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="invoice" contextRef="i2d261dddf85d47fa87ad21cd6261f565_D20220101-20221231" decimals="INF" name="tef:NumberOfInvoicesPaymentsToSuppliersForGoodsAndServices" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzMtMS0xLTEtODk2Njg3_4aed4e16-9323-4799-bec5-58ec28755a52">157,523</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage of the total number of invoices paid</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2d261dddf85d47fa87ad21cd6261f565_D20220101-20221231" decimals="2" name="tef:NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzQtMS0xLTEtODk2Njg3_03650392-631f-4064-8da6-572effdb2ace">54</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;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 2022 included payment periods of up to 60 days, according to the terms agreed between the parties. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For efficiency purposes and in line with general business practices, Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments to Spanish suppliers in 2022 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. </span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i3abbc50d184b41e2a04463f1dc8a6df7">The average payment period to suppliers of the Telef&#243;nica Group&#8217;s companies in Spain in 2022, calculated in accordance with the only additional provision of the Resolution of the Instituto de Contabilidad y Auditor&#237;a de Cuentas (Spanish Accounting and Audit Institute) of January 29, 2016, amounted to <ix:nonNumeric contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" name="tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzc2OTY1ODE0MDM1NzM_254356d9-800b-45e4-af7e-42d4a2ca72ff">53</ix:nonNumeric> days (<ix:nonNumeric contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231" name="tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" format="ixt-sec:durday" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxMjI_cf9647a3-247e-4248-ae54-f4a4d10a280c">54</ix:nonNumeric> days in 2021).</ix:continuation> </span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-105</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_343"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 23. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNTc_9cd01db6-1932-4474-983f-691421f4aeae" continuedAt="i5bfbfd970476493aa37959fee7414192" escape="true">Breakdown of contractual assets and liabilities, and capitalized costs</ix:nonNumeric></span></div><ix:continuation id="i5bfbfd970476493aa37959fee7414192" continuedAt="i6350376d4f24402d8891b47e0ef4275d"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNTM_d3fd9175-4d7e-49a2-9267-62dc45c06d12" continuedAt="i5a6798f8d2ff4330be967c5219b39e5f" escape="true"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of contractual assets and capitalized costs in 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021 is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:9.430%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term contractual assets (Note 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i831f3496857f4ffca74f5a2335e0a276_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzEtMi0xLTEtNTEwNDQy_c7bbf95a-4f16-4e2b-8b43-de038fcf6f80">261</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i831f3496857f4ffca74f5a2335e0a276_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzEtMy0xLTEtNTEwNDQy_a5e0e18f-23fb-48b3-b1ff-6a6af87176b7">12</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i831f3496857f4ffca74f5a2335e0a276_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzEtNS0xLTEtNTEwNDQy_27fcbd55-78c4-4bee-8f74-50239292d8cb">1</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7603f725278f424a8f5c4cf9f3f05380_I20221231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzEtNy0xLTEtNTEwNDQy_4b67596b-d543-448b-a1eb-178b8c7e748f">359</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i53f1b295427146b9bf4d76880e8324be_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzItMS0xLTEtNTEwNDQy_249bc45a-99ef-4b72-aa0f-4758e92b066f">210</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8591dafa7f77436a9aea461c977b4aff_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTransfersContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzItNC0xLTEtNTEwNDQy_2790d76f-39cc-4f6a-84df-06a67f70c592">100</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8591dafa7f77436a9aea461c977b4aff_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzItNS0xLTEtNTEwNDQy_2a64795f-2880-4dec-8eae-8093bac776a8">1</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i55d373cba9fd4ad094beb7c66029e150_I20221231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzItNy0xLTEtNTEwNDQy_baba18e7-9f71-4466-acc5-3f8c1880a0f9">360</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i29fbb90112d1476cb7867dab011f3072_I20211231" decimals="-6" sign="-" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzMtMS0xLTEtNTEwNDQy_531604fa-e7be-4bc8-b285-da9edcd5b6bc">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7b8778746684fedbc544b38efe15ec8_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzMtNC0xLTEtNTEwNDQy_4800523e-25ea-44d9-87e8-485f6331ee77">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7b8778746684fedbc544b38efe15ec8_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzMtNS0xLTEtNTEwNDQy_80401f86-7d1c-4850-b2f6-c96cb9e65685">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7acf9e06be54f5190a82506f4b5928d_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzQtMi0xLTEtNTEwNDQy_1da1468d-59ad-45bf-ab53-27aa9f5edfd9">294</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id7acf9e06be54f5190a82506f4b5928d_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzQtNC0xLTEtNTEwNDQy_c512027b-6b01-4fb2-abef-313083197cb0">100</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7acf9e06be54f5190a82506f4b5928d_D20220101-20221231" decimals="-6" 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unitRef="eur" contextRef="i54310e5da65b4a5b87db870b95479716_I20221231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzQtNy0xLTEtNTEwNDQy_05c8cd41-2721-45e5-9854-75c1b153c372">195</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1a644b7a6fd3470996ae4f0ef70ce7e2_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzUtMS0xLTEtNTEwNDQy_7a67fac6-8318-49ba-8192-a1ad7bc950eb">141</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib4d551f7f818442fa1ea00eb088affae_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzUtMi0xLTEtNTEwNDQy_67d90c64-a4ff-47dc-bfea-2882f26201d0">295</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib4d551f7f818442fa1ea00eb088affae_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzUtMy0xLTEtNTEwNDQy_e581eea8-1651-47cf-8bf8-ac95a0b450ee">340</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib4d551f7f818442fa1ea00eb088affae_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzUtNC0xLTEtNTEwNDQy_dc7f6708-8532-4947-b3a9-8eeb1d804f9e">100</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib4d551f7f818442fa1ea00eb088affae_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzUtNS0xLTEtNTEwNDQy_c6f33803-460f-469b-abce-fc8694133543">6</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0a82e569eaa54ebdb0afcbb3d2a43899_I20221231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzUtNy0xLTEtNTEwNDQy_6e122d23-104e-4bb4-b5d4-d74c714b4665">202</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i57c05c644f5c45c0bb114569ef6a79db_I20211231" decimals="-6" sign="-" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzYtMS0xLTEtNTEwNDQy_75c36f4c-1d40-470d-9d58-21916dd9712f">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzYtMi0xLTEtNTEwNDQy_241db0ba-f04c-4d69-9c19-b2b14e168f79">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" sign="-" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzYtMy0xLTEtNTEwNDQy_ff8b3b51-d99c-400a-b07a-8fb2747129fe">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzYtNC0xLTEtNTEwNDQy_82e7ad4d-ce07-46ca-8d65-5017a0e5e6a9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzYtNS0xLTEtNTEwNDQy_a4821390-43cb-4370-bf76-3c2a3047c350">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7d680234e6934408ab09de73c57960ce_I20221231" decimals="-6" sign="-" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzYtNy0xLTEtNTEwNDQy_d79f3838-5076-4a62-92b6-b3491c28e6ab">7</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzctMS0xLTEtNTEwNDQy_e89c870b-b370-40ea-966c-c5cf48ab834c">342</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzctMi0xLTEtNTEwNDQy_dcfa84d7-f27a-4a01-9ff3-db436f9fe5bc">555</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzctMy0xLTEtNTEwNDQy_8e0b7ff8-640d-4c14-85b1-ae79bb9361fa">349</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzctNC0xLTEtNTEwNDQy_40f6291d-7993-463c-885a-9fd408b3933e">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzctNS0xLTEtNTEwNDQy_f561b4e7-0fe1-4339-ba1b-d3a3c12454a4">6</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo3ZGM3NDExNGEyY2I0ZTM1YjJjYzQxMzI4MTdiZTBmOS90YWJsZXJhbmdlOjdkYzc0MTE0YTJjYjRlMzViMmNjNDEzMjgxN2JlMGY5XzctNy0xLTEtNTEwNDQy_a341852b-cef1-4985-988a-901b3351f6d6">554</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.432%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.128%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:11.036%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if32d98998baf45f88bbef3eac80e654c_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzEtNy0xLTEtNTEwNDQy_572d61cf-809b-41dd-8d1c-7544ea1ea5af">209</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i05b0321d2d424b3586cb0e978117612b_I20201231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzItMS0xLTEtNTEwNDQy_17d4d309-a464-44f3-a336-b49c2a133090">146</ix:nonFraction>&#160;</span></td><td 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3797a898c534a8693f4f18fa3b96c4b_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzItMy0xLTEtNTEwNDQy_97a5d7d4-de4b-4728-ade5-4369d7bacc4b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie3797a898c534a8693f4f18fa3b96c4b_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTransfersContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzItNC0xLTEtNTEwNDQy_5480497d-0eec-4219-9848-1021a1434c6b">49</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3797a898c534a8693f4f18fa3b96c4b_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzItNS0xLTEtNTEwNDQy_72cfbfd2-3f0a-4b3b-af42-ea1249832f7a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i53f1b295427146b9bf4d76880e8324be_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzItNy0xLTEtNTEwNDQy_7fd3bb92-6059-4a2c-91c1-2bb1f5b143cc">210</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9df1563c047c47659f4d98fab110ab64_I20201231" decimals="-6" sign="-" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzMtMS0xLTEtNTEwNDQy_52751089-ba80-401f-bd5f-bfe3554bdcf0">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3aa30e5131f4b21b049fd84b1651538_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzMtMi0xLTEtNTEwNDQy_c4c5e90e-e48b-4da2-af45-8398412eccfd">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3aa30e5131f4b21b049fd84b1651538_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzMtMy0xLTEtNTEwNDQy_458058d4-9bee-44c9-83c1-157c864f1814">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3aa30e5131f4b21b049fd84b1651538_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzMtNC0xLTEtNTEwNDQy_ca1d2a0c-80e4-471d-91a2-4aba4d8bb826">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3aa30e5131f4b21b049fd84b1651538_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzMtNS0xLTEtNTEwNDQy_0e9d6b06-bb9a-4fa1-89d3-34ef322a9530">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i29fbb90112d1476cb7867dab011f3072_I20211231" decimals="-6" sign="-" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzMtNy0xLTEtNTEwNDQy_7921f4e0-2f0c-4abe-82aa-59190cd5b6f2">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term contractual assets (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i98e675c13a804b84bc8d97948ea86a4f_I20201231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzQtMS0xLTEtNTEwNDQy_096b6230-a615-4bcb-8bbf-580300a0520b">104</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzQtMi0xLTEtNTEwNDQy_2b401482-a467-419a-a2b1-fd03e4ebc482">180</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzQtMy0xLTEtNTEwNDQy_2e073174-d476-4d02-8602-a4c146fb6cb8">198</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzQtNC0xLTEtNTEwNDQy_50ec9d4f-56a8-41a7-8f43-e2ae225922bc">48</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzQtNS0xLTEtNTEwNDQy_44c0287c-b6a8-42c8-9c76-53e1ca235fb7">1</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idf7b4439d8394e99911b0dda37006051_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzQtNy0xLTEtNTEwNDQy_825882d7-68ad-4270-8941-6c5ecce654e4">133</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia0385bd282fc4da6b1c656e7cd23d6e5_I20201231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzUtMS0xLTEtNTEwNDQy_50cc51da-90c9-4abf-b14a-fbec129728d3">113</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8b87805c154c4a41979822243f0ea128_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzUtMi0xLTEtNTEwNDQy_46d6268a-1ee1-4cb9-a9e8-2650dbcf8b6e">182</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8b87805c154c4a41979822243f0ea128_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzUtMy0xLTEtNTEwNDQy_7d8cc403-e3bc-4920-a86e-940bb44ed9d9">201</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8b87805c154c4a41979822243f0ea128_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzUtNC0xLTEtNTEwNDQy_c2be46ce-adc6-478f-985f-6ca86b83a156">48</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8b87805c154c4a41979822243f0ea128_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzUtNS0xLTEtNTEwNDQy_971d2151-cd5f-48a3-92a9-07b4c8b2975f">1</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1a644b7a6fd3470996ae4f0ef70ce7e2_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzUtNy0xLTEtNTEwNDQy_7e4bc201-058b-4a67-8242-121e701408b1">141</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i579da66914a142e48ca3e12a47519637_I20201231" decimals="-6" sign="-" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzYtMS0xLTEtNTEwNDQy_739e45a1-1b3d-4e41-b48a-5083776dc1e6">9</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzYtMi0xLTEtNTEwNDQy_80f30228-3c93-4b14-bc3e-fcf23d0b6b94">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" sign="-" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzYtMy0xLTEtNTEwNDQy_773af138-23b5-471a-95b6-9c82643803cf">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzYtNC0xLTEtNTEwNDQy_d08e536b-4d5c-4e09-adff-3850ee6fb615">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzYtNS0xLTEtNTEwNDQy_55be8ba5-f5d3-433a-abb3-146e7817dc6c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i57c05c644f5c45c0bb114569ef6a79db_I20211231" decimals="-6" sign="-" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzYtNy0xLTEtNTEwNDQy_e404f774-0d7c-4ca4-a8ba-fdb737f61a2e">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzctMS0xLTEtNTEwNDQy_2ebcb94c-7c37-4898-9434-a5cb28ee9c90">249</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzctMi0xLTEtNTEwNDQy_3a23c81e-fd35-40af-961b-c57bf3d56ee3">293</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzctMy0xLTEtNTEwNDQy_144f4bf7-8c68-4a5b-807f-dd4788241f95">198</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTransfersContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzctNC0xLTEtNTEwNDQy_ef4aa05d-bb1f-490c-9460-66f1c9b9eaf6">1</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzctNS0xLTEtNTEwNDQy_675978f0-ac12-4cc1-80f0-56d0d5b80909">1</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:ContractAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTozMWQwMmE0MjExMTM0YTY3YTU1MzI5ODI1YTE3ZjVmMi90YWJsZXJhbmdlOjMxZDAyYTQyMTExMzRhNjdhNTUzMjk4MjVhMTdmNWYyXzctNy0xLTEtNTEwNDQy_e30a7a4b-dbdc-4792-b438-38ff221883d6">342</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div></ix:continuation><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNDM_dddad617-ed42-439c-92e3-dfc94b7c5e36" continuedAt="i6dbdfbdf80264eaf8f64041c277a2dc0" escape="true"></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-106</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i6350376d4f24402d8891b47e0ef4275d" continuedAt="i9a39e5888eb243a9a0a83e0ed32f88e8"><ix:continuation id="i6dbdfbdf80264eaf8f64041c277a2dc0"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of the deferred expenses in 2021 and 2020 is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.654%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.430%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idf7b4439d8394e99911b0dda37006051_I20211231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzUtMS0xLTEtNTEwNDQy_c60f7acc-44bb-4722-bd2b-4a88f4bc8003">668</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i54310e5da65b4a5b87db870b95479716_I20221231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzUtNy0xLTEtNTEwNDQy_f1e67622-0dea-449e-945a-fca9d6dff6f7">885</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6e5d71746ea946a1ae9486c40706bd7d_I20211231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzctNi0xLTEtNTEwNDQy_bad91b24-1cb0-462e-9f78-cbd10af5be11">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia53dbe22399141119c2d90f46f99056c_I20221231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzctNy0xLTEtNTEwNDQy_25cf177a-04c2-4aaf-8f30-11e9fa432220">175</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i57c05c644f5c45c0bb114569ef6a79db_I20211231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzgtMS0xLTEtNTEwNDQy_e3027e9b-bd88-42d8-b6ea-c4ce71d0a88f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" name="tef:IncreaseThroughBusinessCombinationsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzgtMi0xLTEtNTEwNDQy_7b1607f3-3402-4c67-9f5e-50baf7c03cb5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDisposalsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzgtMy0xLTEtNTEwNDQy_bb5c85a0-0dbc-45a9-af9d-7ded6154f6c8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzgtNC0xLTEtNTEwNDQy_9c63da51-347b-491a-94b0-182e25deb85d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzgtNS0xLTEtNTEwNDQy_874f0cd4-ad99-47e6-a36c-3893b4527e94">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1e1ac1fd1294886a203f1cfff499ffe_D20220101-20221231" decimals="-6" name="tef:OtherMovementsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzgtNi0xLTEtNTEwNDQy_f594173f-67f3-4322-a1d9-1f168425c543">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7d680234e6934408ab09de73c57960ce_I20221231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzgtNy0xLTEtNTEwNDQy_ad2c591e-ec0b-4ca3-96c9-fe8bef420078">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzktMS0xLTEtNTEwNDQy_244a6bc2-ed1f-4716-a4d0-aa5f7baa2908">1,223</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseThroughBusinessCombinationsCapitalizedCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzktMi0xLTEtNTEwNDQy_75e776fb-192c-44a2-89f2-24f68051219d">1,450</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts" scale="6" 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style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.788%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.015%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current capitalized costs (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie881728a40f14a9899165a9126e66949_I20201231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzEtMS0xLTEtNTEwNDQy_629720ee-f132-4a22-82f0-9b9a711b0220">331</ix:nonFraction></span><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4880a1dc71b945e6a3495e995eff486f_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTransfersCapitalizedCosts" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzItNC0xLTEtNTEwNDQy_f2ab5be4-2832-41b9-9539-5f982545ab49">334</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4880a1dc71b945e6a3495e995eff486f_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzItNS0xLTEtNTEwNDQy_de97d75a-3ad8-48d7-8cda-0369a8e272b5">3</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3aa30e5131f4b21b049fd84b1651538_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzQtMy0xLTEtNTEwNDQy_4ca12c64-5af7-4287-b19d-0b69e39b6e41">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3aa30e5131f4b21b049fd84b1651538_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzQtNC0xLTEtNTEwNDQy_7be165b1-5d49-409a-a8fc-05b9cd78f86c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie3aa30e5131f4b21b049fd84b1651538_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzQtNS0xLTEtNTEwNDQy_79ebd7c5-1d6c-4e0c-8de2-91b82fb22ff1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i29fbb90112d1476cb7867dab011f3072_I20211231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzQtNy0xLTEtNTEwNDQy_cdd45882-542b-4751-a4f1-43d1a5c54350">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzUtMi0xLTEtNTEwNDQy_f7698d48-e906-482c-9d03-b48763740d70">489</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsCapitalizedCosts" scale="6" 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decimals="-6" name="tef:IncreaseThroughBusinessCombinationsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzgtMi0xLTEtNTEwNDQy_0dc965c8-c076-4eb0-88a2-f5c28ad473f1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzgtMy0xLTEtNTEwNDQy_ccdcc25c-1892-4216-b7aa-71ab67142710">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzgtNC0xLTEtNTEwNDQy_e1975d80-d1a8-451a-bde5-4d9e287b3809">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzgtNS0xLTEtNTEwNDQy_27bad87e-2005-448c-be55-82e4bcdf3c3f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id4cf15a714dc45d69651597ad505b095_D20210101-20211231" decimals="-6" name="tef:OtherMovementsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzgtNi0xLTEtNTEwNDQy_d5b46dd7-236a-42ed-8ec0-a9b9262f7f2e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i57c05c644f5c45c0bb114569ef6a79db_I20211231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzgtNy0xLTEtNTEwNDQy_b8cb7307-9ae8-47c5-8300-ba7e87386fb2">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzktMS0xLTEtNTEwNDQy_56d233a3-4870-48ea-af4d-09640f434b0a">911</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseThroughBusinessCombinationsCapitalizedCosts" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzktMi0xLTEtNTEwNDQy_4160c62a-4b8e-44bb-987c-3ddd028b75ca">1,120</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsCapitalizedCosts" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzktMy0xLTEtNTEwNDQy_bd0e85f2-e1ba-4ba1-8752-7f3fa37530dd">799</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTransfersCapitalizedCosts" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzktNC0xLTEtNTEwNDQy_1bb916b7-d2ad-4a1b-84a4-7b6453d5b2c4">1</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzktNS0xLTEtNTEwNDQy_27462407-be60-42b2-a445-ce5adbc244f2">8</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:OtherMovementsCapitalizedCosts" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzktNi0xLTEtNTEwNDQy_22621255-3e5b-4d3d-b02b-9c23861ad551">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo0YTdlNzM3NTIwNTg0NjgxYWU5YjU5ZmJjNWU0M2Q3Yy90YWJsZXJhbmdlOjRhN2U3Mzc1MjA1ODQ2ODFhZTliNTlmYmM1ZTQzZDdjXzktNy0xLTEtNTEwNDQy_2eafd1d3-602e-4c79-b40d-8fc733d12f3e">1,223</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2020, the Group 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.</span></div><ix:continuation id="i5a6798f8d2ff4330be967c5219b39e5f" continuedAt="iae0d643f2f2f419489d86be78761a9ee"><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of contractual liabilities of contracts with customers in 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and 2021 is as follows: </span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.487%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.365%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.056%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.347%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.347%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.365%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.365%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.368%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" 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solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (current year)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" 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name="tef:DecreaseThroughDisposalsContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzItNC0xLTEtNTEwNDQy_46f57ecf-bb93-414c-b9d2-84656cd2be00">4,756</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7acf9e06be54f5190a82506f4b5928d_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTransfersContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzItNS0xLTEtNTEwNDQy_1dc9a543-da6c-44ba-ae0c-a69bdb9e0dc3">236</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7acf9e06be54f5190a82506f4b5928d_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzItNi0xLTEtNTEwNDQy_49f19654-5e98-43e1-b1dc-200413ec0f24">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id7acf9e06be54f5190a82506f4b5928d_D20220101-20221231" decimals="-6" name="tef:Increasedecreasethroughothermovementscontractliabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzItNy0xLTEtNTEwNDQy_074cc133-8210-4fe8-abb6-00567274b22c">22</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i54310e5da65b4a5b87db870b95479716_I20221231" decimals="-6" name="ifrs-full:ContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzItOC0xLTEtNTEwNDQy_a9a42f06-9b81-43d3-8fce-513c68a924a6">1,038</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:ContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtMS0xLTEtNTEwNDQy_077fa398-d89b-495c-bc94-8d09fa504536">1,787</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtMi0xLTEtNTEwNDQy_d9abfd11-d929-49ca-9f59-61954fea577f">5,846</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDisposalsfromPriorYearsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtMy0xLTEtNTEwNDQy_e72d112a-c950-427e-954e-3007581fdd00">986</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:DecreaseThroughDisposalsContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtNC0xLTEtNTEwNDQy_3b419e52-359f-45e8-a87e-21ab0f044664">4,756</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTransfersContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtNS0xLTEtNTEwNDQy_74e98dc0-e82f-495a-b838-a0e2f07d845c">6</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtNi0xLTEtNTEwNDQy_f695c805-e129-49e0-a679-1e8a6e983647">22</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:Increasedecreasethroughothermovementscontractliabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtNy0xLTEtNTEwNDQy_d7675596-254a-418d-9002-7fc90d9bdda9">22</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:ContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkMjZhYzY1MTAzMTY0MDgzYjFkMzc2M2QyOWFhNWM4ZS90YWJsZXJhbmdlOmQyNmFjNjUxMDMxNjQwODNiMWQzNzYzZDI5YWE1YzhlXzMtOC0xLTEtNTEwNDQy_656a94d7-99fc-436b-b76a-56abcc0a2d0e">1,929</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-107</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i9a39e5888eb243a9a0a83e0ed32f88e8"><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><ix:continuation id="iae0d643f2f2f419489d86be78761a9ee"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.590%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.283%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItNS0xLTEtNTEwNDQy_a948f3c5-c9ff-4634-8ccb-ac253b1271dd">204</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItNi0xLTEtNTEwNDQy_b2f3f2ee-20da-48ef-b22d-d3985ff568d6">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231" decimals="-6" name="tef:Increasedecreasethroughothermovementscontractliabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItNy0xLTEtNTEwNDQy_9a2446de-0a3a-4e80-81e2-90302e046e08">13</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idf7b4439d8394e99911b0dda37006051_I20211231" decimals="-6" name="ifrs-full:ContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItOC0xLTEtNTEwNDQy_78d9e8e0-c577-4c8e-940d-158988fd7780">958</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:ContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtMS0xLTEtNTEwNDQy_70281c07-b3f7-406e-a554-671f3e423b71">1,738</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtMi0xLTEtNTEwNDQy_deeca753-a680-46bf-a432-63e3903930ca">5,452</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsfromPriorYearsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtMy0xLTEtNTEwNDQy_0e690d46-c811-4980-9a1c-a8839deb4026">729</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:DecreaseThroughDisposalsContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNC0xLTEtNTEwNDQy_5df37dce-396f-423d-990d-b3d8a51f6b77">4,705</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTransfersContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNS0xLTEtNTEwNDQy_86cefde2-1e80-4cd3-a349-abe006b68ce6">2</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNi0xLTEtNTEwNDQy_f8e93bfb-cd83-4320-96d8-41e273b8540a">20</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:Increasedecreasethroughothermovementscontractliabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNy0xLTEtNTEwNDQy_cd5633ee-d9e8-448d-bbab-32775e94783c">13</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:ContractLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtOC0xLTEtNTEwNDQy_058a44fa-2009-4b67-b3ae-18b19fb16a62">1,787</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNjc_c35a06b5-bdc4-4a35-8c49-71c92006b72d" escape="true"><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The maturity schedule of contractual liabilities at December 31, 2022 is as follows: </span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:45.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.776%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.780%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, sales of handsets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i19215e052679491787cdc4a24cabac24_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzQtMS0xLTEtNTEwNDQy_b82e830f-75d6-4a40-bbf7-0d004ce618d2">26</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id84dc4412dd048c38b18c51e31cf1267_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzUtMy0xLTEtNTEwNDQy_d88b65ef-43b2-4ea9-bb15-efe2a0e44672">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if6557ad1f044425fb372379eed6423b0_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzUtNC0xLTEtNTEwNDQy_d14092d6-8723-4932-8ea5-5310f2cdbfe2">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, irrevocable rights to use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i536f5eb4bd7e469bb646382e6523868b_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzYtMS0xLTEtNTEwNDQy_3c50a947-9489-4d53-8856-954b6ee19a46">70</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1ec09ff56369421ea2fd054353f817e8_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzYtMy0xLTEtNTEwNDQy_024aa122-25c6-4dd0-a2ba-7a4ab0e866eb">62</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c1b9ebe3a3447c9a9247da0d6b29685_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzYtNC0xLTEtNTEwNDQy_ab599522-5751-44ed-95e6-eefbd954f8fd">421</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9758f1a2164a4e5cbfebac9eee6da9fe_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzYtNS0xLTEtNTEwNDQy_e96120c4-191e-449c-861a-3cd86dac253f">622</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other contractual liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i632b81f40d67496f8a8eb68e464ae813_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctMS0xLTEtNTEwNDQy_96f859ff-dafa-458e-892b-732accfe4dfd">84</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4d5d0b63b97b4c42a70b55151df7d9a1_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctMi0xLTEtNTEwNDQy_f9233f1a-781f-4e8b-a5ad-be6afae48c63">17</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i28222b6470e641eca1de5eea8f72e5b0_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctNC0xLTEtNTEwNDQy_ef4e0c37-fe19-437e-9f9a-b21d6d8c87f6">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i11fbcf4357fc40dfb0a810be85f7ee2e_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctNS0xLTEtNTEwNDQy_1fb16165-4325-4a76-857d-32c26343ca2c">217</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity of performance obligations</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44343f125a1e48be9f9c0e7838a0d1b7_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtMS0xLTEtNTEwNDQy_c1bd18ed-94af-473b-b668-382a587fbb6e">1,038</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i225ee7f614314387a2ab4389ebd1488f_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtMi0xLTEtNTEwNDQy_f045ff04-6451-4937-bc93-385dfd29710b">175</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifd9484f117584541b944172ff01837e6_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtMy0xLTEtNTEwNDQy_e2fd9a29-1102-4aae-9db3-de068e2911e5">110</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7f7f05db69e5475388791d1082ddd545_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtNC0xLTEtNTEwNDQy_77492895-9271-4c8f-925b-b930e31f49da">606</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtNS0xLTEtNTEwNDQy_06e4b925-2bcc-416f-9d7a-b40e8a324a27">1,929</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-108</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_346"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 24. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfEmployeeBenefitsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTgw_89dce763-6fa7-45cc-ac91-b47c82d3f325" continuedAt="if835700d5e2941a3a63b716f1322f44a" escape="true">Provisions</ix:nonNumeric></span></div><ix:continuation id="if835700d5e2941a3a63b716f1322f44a" continuedAt="i32c61d36cb6240958d96e5523094d5b3"><div style="margin-top:9pt"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfAmountsOfProvisionsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjU3_f2d6dd96-10a3-4a5b-9c61-63b8b7837e2c" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amounts of provisions in 2022 and 2021 are as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:25.107%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.203%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Employee benefits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentProvisionsForEmployeeBenefits" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzItMS0xLTEtNTEwNDQy_3478b5a0-ad7d-4774-8337-2c28d6af92a3">885</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentProvisionsForEmployeeBenefits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzItMi0xLTEtNTEwNDQy_7f9ce0dc-3efc-4704-b33f-789e65b3037d">4,093</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:ProvisionsForEmployeeBenefits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzItMy0xLTEtNTEwNDQy_c85b6ca0-807c-4fe2-b047-14ab9a5860a9">4,978</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentProvisionsForEmployeeBenefits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzItNC0xLTEtNTEwNDQy_6c11a6d4-44f2-41eb-8f40-a36895d64163">1,003</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentProvisionsForEmployeeBenefits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzItNS0xLTEtNTEwNDQy_180d5be2-64c4-4ccc-9f66-478764bb8316">5,395</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:ProvisionsForEmployeeBenefits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzItNi0xLTEtNTEwNDQy_45eb3dad-9c5b-4709-a5fd-0fdc86422eed">6,398</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Termination plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzMtMS0xLTEtNTEwNDQy_5548c3e9-88a0-4ca9-bebd-ee1b890b9bf3">135</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:NonCurrentProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzMtMi0xLTEtNTEwNDQy_965dfa8e-d429-4b02-818a-11404bcd569d">241</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzMtNC0xLTEtNTEwNDQy_474c6f71-2bfc-42b9-a6f6-02220b48b124">254</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzQtNi0xLTEtNTEwNDQy_15b84523-1d2a-413f-af1b-7e0e0b091633">408</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other benefits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzUtNi0xLTEtNTEwNDQy_f7051b96-ecac-4747-a127-dffbeb3a26e1">5,362</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentProvisionsForDismantlingOfAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzYtMS0xLTEtNTEwNDQy_06d94111-60a8-451e-ab3f-8f02e106b7de">26</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:NonCurrentProvisionsForDismantlingOfAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzYtMi0xLTEtNTEwNDQy_327e51c2-eb9a-4cae-bac5-b67f37240d4d">502</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:ProvisionForDismantlingOfAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzYtMy0xLTEtNTEwNDQy_5b20581c-9448-4c36-9fed-b23c9143cfe6">528</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentProvisionsForDismantlingOfAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzYtNC0xLTEtNTEwNDQy_d71bd219-c20d-4478-8a79-ce47cbebc462">25</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:NonCurrentProvisionsForDismantlingOfAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzYtNS0xLTEtNTEwNDQy_540eade0-0716-45cc-a505-d395058a24e3">552</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:ProvisionForDismantlingOfAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzYtNi0xLTEtNTEwNDQy_b8763973-4f13-42b7-9222-787ca46a52f5">577</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherShorttermProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzctMS0xLTEtNTEwNDQy_943e95be-426e-4a2e-a53d-e12c57c908e0">720</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherLongtermProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzctMi0xLTEtNTEwNDQy_3eda32f6-a237-4928-9b6e-b68a3f870f4c">1,910</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzctMy0xLTEtNTEwNDQy_d02a5862-68ca-4b7b-abcf-d00e474d612b">2,630</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherShorttermProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzctNC0xLTEtNTEwNDQy_6ef5b2fb-179b-4ca8-beb9-9d16c2829e54">413</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherLongtermProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzctNS0xLTEtNTEwNDQy_96d42ce7-e1b5-43a0-bb7b-3e88c3383492">1,715</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzctNi0xLTEtNTEwNDQy_c7d5dead-5c40-4012-85fb-d62d0653d406">2,128</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzgtMS0xLTEtNTEwNDQy_53e3f40f-06e9-48b1-a813-bb3ffb7c4383">1,631</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzgtMi0xLTEtNTEwNDQy_a9a4a24c-ca95-4d61-baa6-b8290e909e6d">6,505</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:Provisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzgtMy0xLTEtNTEwNDQy_dbff8148-c2df-40ea-aec4-d1fbbf57bea9">8,136</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzgtNC0xLTEtNTEwNDQy_f901cab0-156c-4e1f-a688-df2527f44521">1,441</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzgtNS0xLTEtNTEwNDQy_4e671f78-322e-4d29-916f-398ff501a3b7">7,662</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:Provisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzgtNi0xLTEtNTEwNDQy_64039fc7-f20f-48e1-bef9-efc7c22046d7">9,103</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Employee benefits</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 the Group recorded a provision o</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">f <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzE0NA_276e18d3-bad6-4124-b645-d1d8d710a559">179</ix:nonFraction> mil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">lion euros (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzE2Mg_6ff6e2b3-a663-4e3e-a11f-27e0c35cc12e">1,663</ix:nonFraction> million euros in 2021). In 2022, <ix:nonFraction unitRef="eur" contextRef="ib747dc46fff2426786952ecf343a282a_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzE5NA_01c92aa7-0ea8-445b-a45e-064acba76c4a">57</ix:nonFraction> m</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">illion euros corresponds to Tel&#233;fonica Spain (<ix:nonFraction unitRef="eur" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDY3OTg_c813996e-da9e-4642-a5bf-0bd1dd0efa92">1,382</ix:nonFraction> million euros in 2021, mainly relating to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the Individual Suspension Plan described in &#8220;Other benefits&#8221;). <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DistributionbySegmentofRestructuringCostsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjM1_998820ce-3e66-4602-9abd-3c2af69bc0b9" continuedAt="if752698a857e41619e535cc9119ebc88" escape="true">The distribution by segment of the restructuring costs, in terms of their impact on operating income, is as follows:</ix:nonNumeric></span></div><div style="margin-bottom:9pt;text-align:justify"><ix:continuation id="if752698a857e41619e535cc9119ebc88"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:74.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.052%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.053%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain </span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib747dc46fff2426786952ecf343a282a_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzEtMS0xLTEtNTEwNDQy_01c92aa7-0ea8-445b-a45e-064acba76c4a">57</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzEtMi0xLTEtNTEwNDQy_c813996e-da9e-4642-a5bf-0bd1dd0efa92">1,382</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzQtMS0xLTEtNTEwNDQy_efc49e86-fc7b-4212-a22f-03d49d10a3c1">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8aee6e53326d41b6a2af1a081f38e384_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzQtMi0xLTEtNTEwNDQy_ac0428ec-3c49-45e9-b5a0-23a13a07eb11">22</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzUtMS0xLTEtNTEwNDQy_6dc6ac5f-6459-49d3-af60-1f96b50c2536">98</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzUtMi0xLTEtNTEwNDQy_2e6fe428-6fbb-4cce-b076-28e1c7d4de73">174</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i51ae21f2668e44cb94ae91d2c8c0ea11_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzctMS0xLTEtNTEwNDQy_93cbb703-4455-41a9-bd07-260880877006">8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia88ca716bccc4f139befe0b4a2d9da00_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzctMi0xLTEtNTEwNDQy_14836105-874c-4f2c-b8e7-470e15703288">85</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzgtMS0xLTEtNTEwNDQy_276e18d3-bad6-4124-b645-d1d8d710a559">179</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzgtMi0xLTEtNTEwNDQy_6ff6e2b3-a663-4e3e-a11f-27e0c35cc12e">1,663</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Termination plans </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfChangesInProvisionForPostEmploymentPlansTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMzIx_f2109e50-268d-440a-b4f8-e1bfce4cff33" escape="true"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in provisions for termination plans in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="tef:ProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzEtMS0xLTEtNTEwNDQy_fa86e4dc-608b-4b97-acb6-343b7323ab5c">785</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:AdditionsToProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzItMS0xLTEtNTEwNDQy_1c61de82-90be-4dda-b356-7d73072872fe">249</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInProvisionsForTerminationPlansDueToRetirements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzMtMS0xLTEtNTEwNDQy_59ee5e90-a4a1-43cd-ac2b-dd9d13ad8926">409</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences, hyperinflation adjustments and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzUtMS0xLTEtNTEwNDQy_b2ce41e9-9b4d-43b8-9e6e-b4bde8079039">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:ProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzctMS0xLTEtNTEwNDQy_1d36c20c-ed6e-4162-b78c-231801bb6822">628</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:AdditionsToProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzgtMS0xLTEtNTEwNDQy_9e9b33ed-f89b-4206-af0f-1d876149186c">106</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInProvisionsForTerminationPlansDueToRetirements" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzktMS0xLTEtNTEwNDQy_4d3376f1-e2e9-49fd-a75a-261e1f097341">311</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInTerminationPlansThroughTransfersToFromTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzEwLTEtMS0xLTUxMDQ0Mg_48563277-9d6c-4a6a-9176-c55fe16be458">43</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences, hyperinflation adjustments and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzExLTEtMS0xLTUxMDQ0Mg_326c3c8c-892e-4e40-bdfb-b7e259223339">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:ProvisionsForTerminationPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MTgwODNiY2I0MWY0N2Q0OGM2ZGU5ZjE1Y2E3ODMyZC90YWJsZXJhbmdlOjgxODA4M2JjYjQxZjQ3ZDQ4YzZkZTlmMTVjYTc4MzJkXzEzLTEtMS0xLTUxMDQ0Mg_a2943fc6-eed4-47a9-a510-182fcae5e808">376</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Spain </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2011-2013 labor force reduction plan in Telef&#243;nica de Espa&#241;a, concluded with <ix:nonFraction unitRef="employee" contextRef="if5f90cdbe30547f7bdaffce8dd56cb7b_D20220101-20221231" decimals="INF" name="tef:NumberOfEmployeesTerminated" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzU0Ng_6bc92020-fee3-4688-b200-ec49ea234902">6,830</ix:nonFraction> participating employees and the provisions recorded at December&#160;31, 2022 and 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="icec9f64a7e92420b9206fe64c745dc8f_I20221231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzYyNg_2b5d678c-2a09-4bc1-baef-a4e3a498d474">38</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="i06bb111eb9e04b8f952cf385eaf95597_I20211231" decimals="-6" name="ifrs-full:RestructuringProvision" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzY0Nw_c2f5d886-14d0-4a0d-8f62-6e1ac54e2bdc">145</ix:nonFraction> million euros, respectively. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The companies bound by these commitments calculated provi</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">sions required at 2022 and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> year-ends 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 and a high quality credit market based interest rate. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-109</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i32c61d36cb6240958d96e5523094d5b3" continuedAt="i5e88446243f04426a3f154e10b8562d0"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate used for the termination plans of Telef&#243;nica Spain at December&#160;31, 2022 was <ix:nonFraction unitRef="number" contextRef="iac8b88ecef8646c8b828d722ebd48c20_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfDiscountRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzExNTY_9a8813dd-bba8-4989-81fa-578d6b53a7b8">3.43</ix:nonFraction>% with an average plan length of <ix:nonNumeric contextRef="i99ac001ee1c8473e98f57a61e484f575_D20220101-20221231" name="ifrs-full:WeightedAverageDurationOfDefinedBenefitObligation2019" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzExOTA_292eca2a-efc9-43e9-8f75-c21c232d5aa4">0.74</ix:nonNumeric> years.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Post-employment defined benefit plans </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjcw_662abc00-dee5-4edf-a8b5-a40269cdc3dd" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.993%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Obligation</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id8df177f27f94275bdc903649f2e3ed9_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzItMy0xLTEtNTEwNDQy_2ccefa3a-cd96-4d93-b702-75d1ff1059d5">622</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzItNS0xLTEtNTEwNDQy_3c851a56-c73b-4980-a5bd-f9334d9122cb">19</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e4e994f100f423a9a5b03655be3b01e_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzItNi0xLTEtNTEwNDQy_29ace33d-06c9-4c35-834f-c3686240c2d8">913</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i399f745fe8ce4fd691d9e4fc93364f1a_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzMtMi0xLTEtNTEwNDQy_36b39785-27f0-4cb8-accb-c822d9214d58">101</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction 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name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzMtNC0xLTEtNTEwNDQy_5d72bf80-7a9f-435b-b51c-24fdcf23e0ce">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4c0d1342ff914ab493ce0e1b392e9469_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzMtNS0xLTEtNTEwNDQy_b9bbd66f-3b76-420e-9f85-26ac1941d234">18</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i52016a3e09cb41afa41685c7fb03f0b3_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzMtNi0xLTEtNTEwNDQy_6768cd15-33c4-4399-bbda-5775822db413">870</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision before asset ceiling</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d20435f6cec43c8a16def1733256eb5_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzQtMi0xLTEtNTEwNDQy_dfb15610-89ab-4a6f-9bd8-97b3c6301d93">107</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i82a8ce4f0d5a4eb0bade80dc5f534dbe_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzQtMy0xLTEtNTEwNDQy_9b050be1-b0c7-4f73-82b1-0cdcddc46fa1">129</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i79de345e6fb24205949d20bbed24300d_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzQtNC0xLTEtNTEwNDQy_c974917a-da1a-4134-8577-994b6dace88d">64</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iad0cb05f6858445d8c228fe32dc560b7_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzQtNS0xLTEtNTEwNDQy_2a300cfa-7f11-413e-992b-e94fece57103">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib730357fa8c24d56913bba26b6e5796e_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzQtNi0xLTEtNTEwNDQy_61ed5696-c53d-4451-9a3b-20da818d8c10">43</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset ceiling</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5bd419d47d0462aa29673dcde511896_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzUtMi0xLTEtNTEwNDQy_9f47ebca-7283-4237-83ad-a602fd411bcd">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i533bb3defa724e97a071bac19ffa12f0_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzUtMy0xLTEtNTEwNDQy_9c4ad66d-a555-4092-b6da-b98b89257604">266</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4a78001c600d4f5b86e5aaadcee71dad_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzUtNC0xLTEtNTEwNDQy_99f413c8-20af-4269-87ed-466f49ec855d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7bb9b95516a9426a930d50f270549faf_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzUtNS0xLTEtNTEwNDQy_4f6b8d6d-fc63-465b-bb0c-d57016291c7f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i50b90c0a3ec1494aabebc537e46eef6c_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzUtNi0xLTEtNTEwNDQy_1783e14e-86a8-494a-b0c0-5cedfc1ab433">266</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i87f5b1d843dc445986d75e32ed81f001_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzYtMi0xLTEtNTEwNDQy_a1da6469-057f-4a00-a593-1c3b40894f4e">107</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i84079fae84f94d5a91fa6ed376f0b45c_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzYtMy0xLTEtNTEwNDQy_301f6081-4449-45d3-a157-d4f0ac933c86">137</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i16afcaecf4ca4085aae78d4f1f9661ce_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzYtNC0xLTEtNTEwNDQy_5896db47-528e-46a5-94e0-8129af0554ba">64</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8864cfa278714b46a74ab88bc7f60ab5_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzYtNS0xLTEtNTEwNDQy_bc0bda74-9e70-4e25-9cf4-9fe26bbdba42">1</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib11f9ae1dc3f4c81977a86f2263733e1_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzYtNi0xLTEtNTEwNDQy_0c4e38aa-0514-4c10-854b-0cf9cf1e9984">309</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i87f5b1d843dc445986d75e32ed81f001_I20221231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzctMi0xLTEtNTEwNDQy_24510248-e3eb-49f1-a81b-03b43f7cd4f9">117</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i84079fae84f94d5a91fa6ed376f0b45c_I20221231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzctMy0xLTEtNTEwNDQy_ccf08dda-294c-48b8-ad54-f88a1aef4c67">138</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i16afcaecf4ca4085aae78d4f1f9661ce_I20221231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzctNC0xLTEtNTEwNDQy_92885164-46b7-4468-9d58-bfcaf17e826b">75</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8864cfa278714b46a74ab88bc7f60ab5_I20221231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzctNS0xLTEtNTEwNDQy_7228bd86-6488-4dc6-a4dc-eeda8ca4d51f">8</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib11f9ae1dc3f4c81977a86f2263733e1_I20221231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzctNi0xLTEtNTEwNDQy_0b300e46-3404-42bf-b46d-8a3084bd757a">338</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid 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#bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i84079fae84f94d5a91fa6ed376f0b45c_I20221231" decimals="-6" sign="-" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzgtMy0xLTEtNTEwNDQy_c1cd55ce-c9f5-4e8c-b475-2350dbf2af8d">1</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i16afcaecf4ca4085aae78d4f1f9661ce_I20221231" decimals="-6" sign="-" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzgtNC0xLTEtNTEwNDQy_73df72b1-e542-4ada-97c2-b3012727243e">11</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8864cfa278714b46a74ab88bc7f60ab5_I20221231" decimals="-6" sign="-" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzgtNS0xLTEtNTEwNDQy_01cdb67f-1851-4965-a644-ce402cb5ec5a">7</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib11f9ae1dc3f4c81977a86f2263733e1_I20221231" decimals="-6" sign="-" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpmYzlhMTgxMWVmMjg0ZTQzYjY4ZTE0MzJmZjlkMWQ3Mi90YWJsZXJhbmdlOmZjOWExODExZWYyODRlNDNiNjhlMTQzMmZmOWQxZDcyXzgtNi0xLTEtNTEwNDQy_560b51b0-4fed-4fc7-96f1-8ceadcba515e">29</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.993%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.081%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Obligation</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf4a076bb4f8470498ee374f853e80d3_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzItMi0xLTEtNTEwNDQy_4827e7dd-838f-403c-85b4-d195f0599322">322</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4e29d6e5dc2e464b90119a5d624cc0a6_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzItMy0xLTEtNTEwNDQy_8e12a8db-ea43-49e3-8f3f-a5958a22a8c1">549</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida474b369664417cb7b3b32f8141b2e1_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzItNC0xLTEtNTEwNDQy_fb829236-fd11-456a-970e-12884c157590">67</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i198bb289965a43a1a2e095ac886fabca_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzItNS0xLTEtNTEwNDQy_47f77fe3-5d25-45a0-bb91-c985e656b369">22</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id188c61e76ae4369bd23b38970eb6ecc_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzItNi0xLTEtNTEwNDQy_9a741bed-0a03-488c-a8ee-1d636d7a1bb0">960</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i603684dde4134a8dbac6ab2f646a4d5b_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzMtMi0xLTEtNTEwNDQy_8c1003d5-b2a5-4510-bc0b-2fc044e34314">99</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1db59632fa2740ffb28d461a23f504d8_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzMtMy0xLTEtNTEwNDQy_a2b2fa46-61d8-456e-b72b-8512c79982b1">660</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf317c4d403b46e8a1abb93455aa266d_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzMtNC0xLTEtNTEwNDQy_c4c182dc-055d-4b8b-89cf-f74d0a91fcd9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i489a6e5c49874f0d956f15325adc1e46_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzMtNS0xLTEtNTEwNDQy_97199a57-597c-4c0e-a9f4-51580a4b1ec0">15</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibadba766e85e453182695e7d5e66c77d_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzMtNi0xLTEtNTEwNDQy_43abd4ce-99f3-479f-ba8c-e0da83503c85">774</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision before asset ceiling</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i661339323c194676be8982d819b02c75_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzQtMi0xLTEtNTEwNDQy_fe219513-0611-447d-ace6-6aab428ed3ba">223</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iee6d24ef88834c4eb8765cb5d43989c8_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzQtMy0xLTEtNTEwNDQy_da3b6dbb-de3b-4054-aa9b-8cd19f0ccaaf">111</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i84b3f74a4e554426ab75af8052a473ea_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzQtNC0xLTEtNTEwNDQy_fe0f5d0a-a7df-4573-ba36-be578f43bf8c">67</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if34dca7809474c2c8f6b4f9103a2c9ec_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzQtNS0xLTEtNTEwNDQy_b301f087-f42e-4f38-8e74-5955c75efb21">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e2b42424a1f4a609e8d5652101c8e2b_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzQtNi0xLTEtNTEwNDQy_aaf41894-4554-4053-a045-a7e54c92d188">186</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset ceiling</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4846461472954aa2826939c16315ccf7_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzUtMi0xLTEtNTEwNDQy_773d2fce-6728-4256-9310-1b192e0f9fbb">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8f945a1858bf49d6be070e572c092eee_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzUtMy0xLTEtNTEwNDQy_edaca8ee-d8b2-4d08-906f-0b9bbe27e987">199</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic2b3f5a179ca4be8bfd30c7679ab0e53_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzUtNC0xLTEtNTEwNDQy_1242f1cf-8fea-4d2b-a3c0-ea8329eebff7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic7be79391fa04095a808e893f013a475_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzUtNS0xLTEtNTEwNDQy_21f2af89-6c9c-44aa-98f2-4269d6000d7d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f37448680d7459f91c4320a65f8bb37_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzUtNi0xLTEtNTEwNDQy_2a56093c-33f5-48b1-9e31-c249e9437f0f">199</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8c0c757a38364be6872dc6b259b59e97_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzYtMi0xLTEtNTEwNDQy_634477c1-1886-4b0d-a7e2-8e222540ad37">223</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i310ab23fc4e6463085387e5bf8f50701_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzYtMy0xLTEtNTEwNDQy_79eae878-abc5-4b1e-a5b9-58736337b4a2">88</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i81f13d3b7642489b90e5ea792d29d2fc_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzYtNC0xLTEtNTEwNDQy_9ad4d765-83c4-47b7-92a6-020c91ba72d9">67</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i14bbeb92a9aa4b5ab7291a80c687781a_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzYtNS0xLTEtNTEwNDQy_4ebd4683-3985-4195-b80e-6520d99e4366">7</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i40c72edfb5dc4425938ff2bbfe982ecc_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzYtNi0xLTEtNTEwNDQy_6a219593-d5ce-4a82-905e-4948fee946e5">385</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8c0c757a38364be6872dc6b259b59e97_I20211231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzctMi0xLTEtNTEwNDQy_ad9dad7e-a374-42d4-af48-08d67e037201">231</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i310ab23fc4e6463085387e5bf8f50701_I20211231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzctMy0xLTEtNTEwNDQy_e108ff3f-06af-47a7-8c22-ff810dbbdd35">103</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i81f13d3b7642489b90e5ea792d29d2fc_I20211231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzctNC0xLTEtNTEwNDQy_828cb51d-879d-4f38-9eed-2be4c1920746">67</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i14bbeb92a9aa4b5ab7291a80c687781a_I20211231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzctNS0xLTEtNTEwNDQy_96fd3aac-595e-4ca1-a907-4326df72f04d">7</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i40c72edfb5dc4425938ff2bbfe982ecc_I20211231" decimals="-6" name="tef:ProvisionsForDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzctNi0xLTEtNTEwNDQy_4e097ea0-50b6-4b3c-8b79-6fcc01c58257">408</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net assets</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8c0c757a38364be6872dc6b259b59e97_I20211231" decimals="-6" sign="-" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzgtMi0xLTEtNTEwNDQy_6a15834b-5366-49da-a039-b230b3960bdb">8</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i310ab23fc4e6463085387e5bf8f50701_I20211231" decimals="-6" sign="-" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzgtMy0xLTEtNTEwNDQy_eaaa54dd-78f4-47be-a67d-1d267654def7">15</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i14bbeb92a9aa4b5ab7291a80c687781a_I20211231" decimals="-6" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzgtNS0xLTEtNTEwNDQy_477044ce-52e2-45d2-be15-b7e181fd53bc">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i40c72edfb5dc4425938ff2bbfe982ecc_I20211231" decimals="-6" sign="-" name="tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzgtNi0xLTEtNTEwNDQy_73c3df47-645e-420c-b526-6b228b1c8aad">23</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjE0_41fb9d8c-7d44-4767-82b8-67933f0184c4" continuedAt="i8d60c734a5904ed3952e4146f0bbe7bb" escape="true">The movement in the present value of obligations in 2022 and 2021 is as follows:</ix:nonNumeric></span></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-110</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i5e88446243f04426a3f154e10b8562d0" continuedAt="ib299b4e1e8a64acfad5d9c51ed6363ff"><div style="margin-bottom:9pt;text-align:justify"><ix:continuation id="i8d60c734a5904ed3952e4146f0bbe7bb"><span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:39.689%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.743%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i136c7988df78476aa0aa25c7a4398919_I20201231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEtMy0xLTEtNTEwNDQy_542a33f8-b456-41d4-af22-0578a0ee0616">643</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia8a8dc52bb244824b30a7a601bac98ad_I20201231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEtNS0xLTEtNTEwNDQy_d4239119-acea-450a-b912-75b643828f9d">19</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9eb066de579542c3a4b99a1457db9d0a_I20201231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEtNi0xLTEtNTEwNDQy_12ef4a12-2989-4e60-988d-3eb1e2b320b8">1,086</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c6e102d95874ea7aac1a0e35a22059d_D20210101-20211231" decimals="-6" name="ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzQtNi0xLTEtNTEwNDQy_31d55e52-73a9-4e54-9a34-512f9cde1893">57</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i76bd888d01814425a74e8250d630e4be_D20210101-20211231" decimals="-6" name="ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzUtNC0xLTEtNTEwNDQy_6de26c30-b730-4793-8151-d8f82e9ce4e5">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i39aa61fbaa67466d8978bd8c78a09a64_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzUtNS0xLTEtNTEwNDQy_c4baf199-665a-4c5e-89df-7f57b3790e2a">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3c6e102d95874ea7aac1a0e35a22059d_D20210101-20211231" decimals="-6" name="ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzUtNi0xLTEtNTEwNDQy_265afe3b-5547-46c7-8f0d-979fd755fc1c">154</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifdc58e40eae94930acd2be5c9742ec77_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzYtMi0xLTEtNTEwNDQy_3b483b74-d243-41f6-a58b-7e437dceb769">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i76bd888d01814425a74e8250d630e4be_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzYtNC0xLTEtNTEwNDQy_af1dfcc8-75cd-463a-af8c-123d5f6aff9c">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i39aa61fbaa67466d8978bd8c78a09a64_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzYtNS0xLTEtNTEwNDQy_e32699b8-1429-4793-b45b-e98c135123ab">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3c6e102d95874ea7aac1a0e35a22059d_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzYtNi0xLTEtNTEwNDQy_009218dc-dd08-4a13-aac1-5e2bf4cda544">45</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plan curtailments</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifdc58e40eae94930acd2be5c9742ec77_D20210101-20211231" decimals="-6" name="tef:Plancurtailmentnetdefinedbenefitliabilityasset" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzgtNi0xLTEtNTEwNDQy_223ef729-f299-4122-9f30-06b50bfe7e72">22</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifdc58e40eae94930acd2be5c9742ec77_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzExLTQtMS0xLTUxMDQ0Mg_d51c5b23-c06d-4336-b773-52ac98607738">18</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i39aa61fbaa67466d8978bd8c78a09a64_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzExLTUtMS0xLTUxMDQ0Mg_42749870-b685-4232-bd5a-1948d3594333">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3c6e102d95874ea7aac1a0e35a22059d_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzExLTYtMS0xLTUxMDQ0Mg_02a40173-d3b6-4f72-adbf-9a7fde57445e">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2021</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf4a076bb4f8470498ee374f853e80d3_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEyLTItMS0xLTUxMDQ0Mg_a08c97b2-6e4e-44c2-a065-e86c77be3484">322</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4e29d6e5dc2e464b90119a5d624cc0a6_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEyLTMtMS0xLTUxMDQ0Mg_4798051c-b567-415f-b41e-ab9e8908b4b4">549</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida474b369664417cb7b3b32f8141b2e1_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEyLTQtMS0xLTUxMDQ0Mg_bda3b0cd-1c8f-4c60-912f-701b07676d05">67</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i198bb289965a43a1a2e095ac886fabca_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEyLTUtMS0xLTUxMDQ0Mg_362175a7-9154-416a-a5d7-8b9df6bfd5aa">22</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id188c61e76ae4369bd23b38970eb6ecc_I20211231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEyLTYtMS0xLTUxMDQ0Mg_a0415fbc-b166-40f3-bc0e-fb214ce5bc88">960</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8230a5916ef43238ba3edbc4292db14_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEzLTItMS0xLTUxMDQ0Mg_b42f50ef-25a1-4835-ba47-70ff95141485">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia8ba9d96ff6a484ea0717a2dfbb3879c_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzEzLTMtMS0xLTUxMDQ0Mg_22f9ad5b-32bf-4181-8780-37f709f44264">74</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i82189603e66448168582d2556fc111c5_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" scale="6" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9e7a6160b93f4ecc82d9da7c950f381a_D20220101-20221231" decimals="-6" name="ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzE2LTYtMS0xLTUxMDQ0Mg_7a0c4381-db80-436d-92b0-448d967c8ac4">130</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic8230a5916ef43238ba3edbc4292db14_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzE3LTItMS0xLTUxMDQ0Mg_da3ffdfd-37e3-4b4c-8e25-5a09de4e3e9f">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i82189603e66448168582d2556fc111c5_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsFromPlanNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzE3LTQtMS0xLTUxMDQ0Mg_b7536180-e909-436e-8691-2dcfc579c95f">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8230a5916ef43238ba3edbc4292db14_D20220101-20221231" 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name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIxLTMtMS0xLTUxMDQ0Mg_a4e5fd61-4008-4cb8-826f-f87b449bee6b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i82189603e66448168582d2556fc111c5_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIxLTQtMS0xLTUxMDQ0Mg_f1ccae15-a245-4a15-af0e-b0ff45071e6b">2</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iaa16a7a1411f4da9995cfa6fa66c8f33_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIxLTUtMS0xLTUxMDQ0Mg_45b23c8e-387e-4585-ad56-7071a92ba093">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9e7a6160b93f4ecc82d9da7c950f381a_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIxLTYtMS0xLTUxMDQ0Mg_6013874c-cd55-4289-985e-b29812865640">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2022</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i06bdec52f9c94b8fab1189be33dfc648_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIyLTItMS0xLTUxMDQ0Mg_ea1bdd09-82fd-4d7b-bd91-8529012c6c75">208</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id8df177f27f94275bdc903649f2e3ed9_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIyLTMtMS0xLTUxMDQ0Mg_7b9dd5f1-be72-4308-b09e-fc4ddabd3adc">622</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie64cc8721399485f84ba8a9e48d76d68_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIyLTQtMS0xLTUxMDQ0Mg_779ef1d5-6ec3-46bc-83c1-91b40dd217c4">64</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1c345f387de04164a560cd04a6dee1a2_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIyLTUtMS0xLTUxMDQ0Mg_67ab1ede-5280-4556-9c30-8f41b44e84ce">19</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2e4e994f100f423a9a5b03655be3b01e_I20221231" decimals="-6" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowOTRiZjI3ZDMwNmI0MTc0OGY3NTkzZjI5NDBlZmMxZC90YWJsZXJhbmdlOjA5NGJmMjdkMzA2YjQxNzQ4Zjc1OTNmMjk0MGVmYzFkXzIyLTYtMS0xLTUxMDQ0Mg_0b93a451-0b32-43da-94ab-5b81e439540b">913</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjI2_b9b185fb-a3a6-4fb3-9c2a-d1638b4bd486" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Movements in the fair value of plan assets in 2022 and 2021 are as follows:</span><span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.420%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.523%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icedd086b1fff4d1bbaeaee31692ef3e8_D20210101-20211231" decimals="-6" name="ifrs-full:GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzQtNS0xLTEtNTEwNDQy_66de2fc1-a89e-4b92-9c89-fc4c34b7d8fa">39</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Participants contributions</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1e57e1c45a1408190bd9a00679b4f3a_D20210101-20211231" decimals="-6" name="ifrs-full:ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" scale="6" 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf0d405229e4473ba8995efb7350cdcd_D20210101-20211231" decimals="-6" name="tef:Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzgtNC0xLTEtNTEwNDQy_e8018314-75af-4f1e-8fb7-53e30567be79">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1e57e1c45a1408190bd9a00679b4f3a_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzktNS0xLTEtNTEwNDQy_06f4bbb3-c6b5-4c72-9e6c-50f19cdee58e">15</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2021</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i603684dde4134a8dbac6ab2f646a4d5b_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzEwLTItMS0xLTUxMDQ0Mg_9350fe5a-e928-4883-9668-977f7e771d55">99</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1db59632fa2740ffb28d461a23f504d8_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzEwLTMtMS0xLTUxMDQ0Mg_620087b2-3801-4965-981f-208509c9e9ce">660</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i489a6e5c49874f0d956f15325adc1e46_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzEwLTQtMS0xLTUxMDQ0Mg_82b06291-30d4-46df-b3ae-4d85f13e473c">15</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibadba766e85e453182695e7d5e66c77d_I20211231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzEwLTUtMS0xLTUxMDQ0Mg_5af002dd-295c-4be6-997d-50c7c24ed792">774</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i448fa4602974439a89eb72c79c7d2672_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzExLTMtMS0xLTUxMDQ0Mg_354c7fac-c70d-41da-b3a9-2c0e38c861e2">89</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaf405e1abdfd412f950848df13ccbacb_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzExLTQtMS0xLTUxMDQ0Mg_1ccadc8e-e422-473c-a47b-d4fb6d72a3d9">1</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i536b2e28b93846488179fde2b1743ae8_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzExLTUtMS0xLTUxMDQ0Mg_b3b5e238-0b22-406e-8b83-b0bd9ae0abd9">90</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i448fa4602974439a89eb72c79c7d2672_D20220101-20221231" decimals="-6" name="tef:Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE3LTItMS0xLTUxMDQ0Mg_176a498a-a98d-4b50-890a-d1f7a6e2f803">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaf405e1abdfd412f950848df13ccbacb_D20220101-20221231" decimals="-6" name="tef:Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE3LTQtMS0xLTUxMDQ0Mg_4f144198-5705-4a9f-9e19-047af1640752">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i448fa4602974439a89eb72c79c7d2672_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE4LTMtMS0xLTUxMDQ0Mg_a81609a1-8700-4bf9-bcdc-17b3ed63f7d8">19</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaf405e1abdfd412f950848df13ccbacb_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE4LTUtMS0xLTUxMDQ0Mg_2b0eac02-cbeb-4694-98a8-5452704b7594">19</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2022</span></td><td colspan="3" style="display:none"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i399f745fe8ce4fd691d9e4fc93364f1a_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE5LTItMS0xLTUxMDQ0Mg_b90b182d-644d-407f-85e2-02d7ed0c8c51">101</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0ea0aff0a00d46f8acc3cd1b6c278506_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE5LTMtMS0xLTUxMDQ0Mg_242ad83c-63ff-49a2-95d5-79d915dcc435">751</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4c0d1342ff914ab493ce0e1b392e9469_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE5LTQtMS0xLTUxMDQ0Mg_768500ff-da90-4591-8155-010d632fee24">18</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i52016a3e09cb41afa41685c7fb03f0b3_I20221231" decimals="-6" sign="-" name="ifrs-full:LiabilityAssetOfDefinedBenefitPlans" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo2YTgzODJhYzhmNDA0MzcwODc5ZmM0Y2QzNTI0YTU4YS90YWJsZXJhbmdlOjZhODM4MmFjOGY0MDQzNzA4NzlmYzRjZDM1MjRhNThhXzE5LTUtMS0xLTUxMDQ0Mg_9a82e2d9-b78c-4b0e-9089-11cc60b2819b">870</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-111</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib299b4e1e8a64acfad5d9c51ed6363ff" continuedAt="i7bd8d577b0634d64b4570a60325b0547"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Brazil pension plans</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDefinedContributionPlansExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjAy_0df22146-fbd5-48dc-a7be-33b43d219011" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil sponsors the following post-employment benefit plans: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:43.263%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.859%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:38.578%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Management entity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sponsor</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plano de Assist&#234;ncia M&#233;dica ao Aposentado y Programa de Coberturas Especiais (PAMA/PCE)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Funda&#231;&#227;o Sistel de Seguridade Social</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#225;s (Telecomunica&#231;&#245;es Brasileiras, S.A.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assistencia m&#233;dica &#8211; Lei 9.656/98</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, Terra Networks, TGLog and TIS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#225;s (Telecomunica&#231;&#245;es Brasileiras, S.A.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CTB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Planes VISAO</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vis&#227;o Prev</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, Terra Networks, TGLog, TIS and Clound Co</span></td></tr></table></div></ix:nonNumeric><div><span><br/></span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ActuarialAssumptionsUsedInValuingDefinedBenefitPlansTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjEy_0250993a-02fd-4e55-a11b-c36fe774763f" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main actuarial assumptions used in valuing these plans are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:60.832%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.226%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.642%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discount rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i59e0caafc81947aaa74ea708a02ace54_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfDiscountRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzEtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246ZmM1NzdlOTM2MGIzNGUyMGFkZGQ5NmYyZmU4ZTc5YTBfNA_fd4e2119-bd33-41ec-b8f6-441dab00bacc">9.75</ix:nonFraction>% - <ix:nonFraction unitRef="number" contextRef="i26d4e291e4a64ad083a0ee1b36e84bef_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfDiscountRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzEtMS0xLTEtNTEwNDQyL3RleHRyZWdpb246ZmM1NzdlOTM2MGIzNGUyMGFkZGQ5NmYyZmU4ZTc5YTBfOQ_db6afe05-3a0e-49eb-b286-28e9077abbc5">9.83</ix:nonFraction>%</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5d40643214784b42b1d897535bd9f541_I20211231" decimals="4" name="ifrs-full:ActuarialAssumptionOfDiscountRates" scale="-2" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzEtMi0xLTEtNTEwNDQyL3RleHRyZWdpb246Zjg3YjNjNzI1ZTE3NDZkZWFjM2IzYmE0ZjNmYzE1ODlfOQ_4d3542eb-2e92-4867-b871-8e55eaa36a48">8.78</ix:nonFraction>%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Nominal rate of salary increase</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i59e0caafc81947aaa74ea708a02ace54_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMS0xLTEtNTEwNDQyL3RleHRyZWdpb246ODFmYmE4YjA4NzcyNGZhNjhmOTM0MWZhNDNiMTk0ZTJfNA_87b06b3f-6958-4567-98b0-a80c53fbdb5e">4.57</ix:nonFraction>% - <ix:nonFraction unitRef="number" contextRef="i26d4e291e4a64ad083a0ee1b36e84bef_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMS0xLTEtNTEwNDQyL3RleHRyZWdpb246ODFmYmE4YjA4NzcyNGZhNjhmOTM0MWZhNDNiMTk0ZTJfOQ_e401dff3-89e3-4775-b819-4fd1cf6e769a">6.35</ix:nonFraction>%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5d40643214784b42b1d897535bd9f541_I20211231" decimals="4" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMi0xLTEtNTEwNDQyL3RleHRyZWdpb246YmQ3MjQ5ZTliNjRhNDMzMjk3ZTY1MDIxMTdjYWJmNjVfNA_98c67e10-64ff-441b-9705-09429cda9fda">4.32</ix:nonFraction>% - <ix:nonFraction unitRef="number" contextRef="i5e7fe9ba4a684d9d80dd7f5f1baa69e0_I20211231" decimals="4" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMi0xLTEtNTEwNDQyL3RleHRyZWdpb246YmQ3MjQ5ZTliNjRhNDMzMjk3ZTY1MDIxMTdjYWJmNjVfOQ_1ed650fd-1643-4d18-921c-0b5867455329">6.09</ix:nonFraction>%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term inflation rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="if74e3c26fc2e45c792211fe823017d98_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzMtMS0xLTEtNTEwNDQy_13992d61-8c9e-4b5e-b1a8-b9cdadc58122">3.50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia3d6201464b84825b61994f064d711ef_I20211231" decimals="4" name="ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzMtMi0xLTEtNTEwNDQy_34da6bd0-eecf-4c71-8454-009806dcb76b">3.25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Growth rate for medical costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="if74e3c26fc2e45c792211fe823017d98_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzQtMS0xLTEtNTEwNDQy_4f0446a0-230c-47a8-82d3-ceb395a2f2c8">6.61</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia3d6201464b84825b61994f064d711ef_I20211231" decimals="4" name="ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzQtMi0xLTEtNTEwNDQy_ead7ffaf-aeba-4d6d-940f-08e786ccfbd3">6.35</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mortality tables</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AT 2000 M/F</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AT 2000 M/F</span></td></tr></table></div></ix:nonNumeric><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTk1_4bf7448e-d2aa-4856-98dc-05021fc8686f" continuedAt="i07e0c68e22444f859b8e6fcd5005fef8" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:17.228%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.785%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.292%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.295%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the discounted obligation at the current discount rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by increasing the discount rate by <ix:nonFraction unitRef="number" contextRef="ibd0cb46b21fe47909539aa9ba6539beb_I20221231" decimals="3" name="ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzAtMi0xLTEtNTEwNDQyL3RleHRyZWdpb246NzVlYzFiNzUxMWU2NGM4MThiN2I2YTY3MDZlZjRlNWZfNzE_414864ef-5a7b-4494-9704-ab4590d61a36">0.5</ix:nonFraction>%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by reducing the discount rate by <ix:nonFraction unitRef="number" contextRef="i86815a0df6964908bbec620c7a2c4fb2_I20221231" decimals="3" name="ifrs-full:PercentageOfReasonablyPossibleDecreaseInActuarialAssumption" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzAtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246MTM4ZjUxYzMwZGVhNDZmYTk3OTg2Y2NmMzNmM2VlNmZfNjk_bffeea79-bda9-4ddd-833d-ad1b5b5632e1">0.5</ix:nonFraction>%</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1aac1f6cd59343df903fc9c0a38d1d5b_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzEtMS0xLTEtNTEwNDQy_4c190812-2212-409a-8085-5c5e00a41ea9">354</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3e6b1c542f2942c6949dfefaaa523374_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzEtMi0xLTEtNTEwNDQy_022e5d4a-37af-4a5a-9ef9-810d858e6f9e">341</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i57394ffa44324ce18a98afb801daf208_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzEtMy0xLTEtNTEwNDQy_f7fe389e-6c33-4c8e-b0d5-81bc4017fcf4">367</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id141aa80e5f14ec380788d3b70539f07_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzItMS0xLTEtNTEwNDQy_bd1f0a80-da5a-453b-a984-6201155b8c4e">268</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i15098d97da9e4d6dbda85846c74b163f_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzItMi0xLTEtNTEwNDQy_2a60c946-ffaf-4749-9beb-0fc96d9435b4">253</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1e47409fe25b4b62a30cffa4d1087397_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzItMy0xLTEtNTEwNDQy_2cf5bd64-87bd-401c-b3c7-41990a937a26">286</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total obligation</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9dac4103b6e14b45863d62fd082cf613_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzMtMS0xLTEtNTEwNDQy_5c377465-8815-4883-9edd-f92347b0b0fe">622</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibd0cb46b21fe47909539aa9ba6539beb_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzMtMi0xLTEtNTEwNDQy_4c85492e-f0bc-41b1-945b-9265477ded13">594</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i86815a0df6964908bbec620c7a2c4fb2_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo4MzI4OGFlZDU2Y2U0ZGVkODFlYTE3NTRkMWQzYThiYy90YWJsZXJhbmdlOjgzMjg4YWVkNTZjZTRkZWQ4MWVhMTc1NGQxZDNhOGJjXzMtMy0xLTEtNTEwNDQy_e76ce591-6238-480c-a22d-c373f34b4067">653</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:17.228%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.785%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.292%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.295%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation at the current growth rate for medical costs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by increasing the rate by <ix:nonFraction unitRef="number" contextRef="ia8949da61eb5427db735c4af64357950_I20221231" decimals="2" name="ifrs-full:PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzAtMi0xLTEtNTEwNDQyL3RleHRyZWdpb246YmFiM2Y2OTY5YWE4NDg0MmI5ZWM2MmYzMWY1NDdlZDBfNjI_d8bb385e-a434-497d-a238-d0cef51b74af">1</ix:nonFraction>%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by reducing the rate by <ix:nonFraction unitRef="number" contextRef="ie8b40459bb1b4aedb6d6617f60ec3265_I20221231" decimals="2" name="ifrs-full:PercentageOfReasonablyPossibleDecreaseInActuarialAssumption" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzAtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246ZDA4YTIwODJkNjU4NDc2MzhjZTlkNDBhOTA2ZTA2YjRfNjA_87af550b-65b7-4591-8f5f-f8297320e4bf">1</ix:nonFraction>%</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31cc1c4be5e1413da4b4ee8608cd1282_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzEtMS0xLTEtNTEwNDQy_7dbd4199-2b17-4c4e-a3ce-c0c3bae664f8">354</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8041043d845b439c8584febc335b7167_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzEtMi0xLTEtNTEwNDQy_49fdba90-4605-4b81-b138-d77d606556bd">354</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i822b46f8d0f842c49078a75ad18d1582_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzEtMy0xLTEtNTEwNDQy_7621b8fb-8c53-4987-a4c3-1ba25d798562">354</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9f7c186b3a984c52833209d29c8f5b8a_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzItMS0xLTEtNTEwNDQy_1cadc98b-5e50-4fc0-9ed5-f5755bba446b">268</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iac64814edf2e4cf6bb8d3394cd2241fe_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzItMi0xLTEtNTEwNDQy_5581315d-315c-4417-a8a9-d8f47771a057">305</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib57b21be48d94f32bfca145d6aacb1e6_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzItMy0xLTEtNTEwNDQy_694cce9b-2677-4468-84a6-689b4c4a0c19">238</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total obligation</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i76014dee083c4c19be8fc57ec47e0300_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzMtMS0xLTEtNTEwNDQy_22bc7bf6-7a93-4c51-9f79-e5e8da759ac3">622</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia8949da61eb5427db735c4af64357950_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzMtMi0xLTEtNTEwNDQy_3cb3295a-8fca-4bb0-9702-864b183760ac">659</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie8b40459bb1b4aedb6d6617f60ec3265_I20221231" decimals="-6" name="ifrs-full:DefinedBenefitObligationAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxYTVlNGI0NzJiNjk0ODQ2YTA0M2JiODgzYzczZjBmYS90YWJsZXJhbmdlOjFhNWU0YjQ3MmI2OTQ4NDZhMDQzYmI4ODNjNzNmMGZhXzMtMy0xLTEtNTEwNDQy_277286e6-426e-4512-ade3-ebe3ae906b69">592</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-112</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i7bd8d577b0634d64b4570a60325b0547" continuedAt="if2609bdca75f4b0dbb0aa5b66be69b2b"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other employee benefits </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica de Espa&#241;a, Telef&#243;nica M&#243;viles Espa&#241;a and Telef&#243;nica Soluciones Individual Suspension Plans </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2015 Telef&#243;nica de Espa&#241;a, S.A.U., Telef&#243;nica M&#243;viles Espa&#241;a, S.A.U. and Telef&#243;nica Soluciones de Inform&#225;tica y Comunicaciones de Espa&#241;a, S.A.U. signed the first Collective Bargaining Agreement of Related Companies (CEV). 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. In September 2019 Telef&#243;nica Espa&#241;a 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. In 2021, Telef&#243;nica Espa&#241;a signed a Social Pact for Employment supported by the largest trade unions, which contemplate and Individual Suspension Plan of employment, fully voluntary (see Note 2). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Plans (PSI) in the periods opened for these purposes. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the end of each period, the current value of the forecast payment flows to meet the commitments of these programs (applying certain hypotheses regarding estimated number of accessions and future reintegration ratio) is recognized. At 2022 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> year-ends, this figure was calculated using </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the biometric table PERM2020 published in the resolution of December 17, 2020 combined with the invalidity table published in the ministerial order of 1977 and a high quality credit market based interest rate.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provision at December&#160;31, 2022 amounted to <ix:nonFraction unitRef="eur" contextRef="i24f4ced73a224ebc81560f7e07066e6a_I20221231" decimals="-6" name="ifrs-full:ProvisionsForEmployeeBenefits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzUzNjU_1935c625-ba0a-43b2-bbfe-e38a5f4ce837">4,150</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i819c13bc9ac842c381799da326cff6af_I20211231" decimals="-6" name="ifrs-full:ProvisionsForEmployeeBenefits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzUzODM_9a5d6e13-b83b-44e3-bbf1-5689da473f64">5,240</ix:nonFraction> million euros at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate used for these provisions at December&#160;31, 2022 was <ix:nonFraction unitRef="number" contextRef="i24f4ced73a224ebc81560f7e07066e6a_I20221231" decimals="4" name="ifrs-full:ActuarialAssumptionOfDiscountRates" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzU0NjM_541a61fe-3b07-4ac5-abd2-ca9b54dcf7e5">3.71</ix:nonFraction>% with an average plans length of <ix:nonNumeric contextRef="icce481fdd33e43589de37fd72090f0db_D20220101-20221231" name="tef:WeightedAverageDurationOfPlan" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzU0OTg_44b33d50-ae2c-46e3-9219-7207caa90dcc">3.53</ix:nonNumeric> years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sensitivity of the valuation </span></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i07e0c68e22444f859b8e6fcd5005fef8"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the sensitivity of the value of termination, post-employment and other obligations, including the Individual Suspension Plans of Telef&#243;nica Group companies in Spain to changes in the discount rate:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-100 b.p.</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+100 b.p.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on value</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on value</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on&#160;&#160;income statement</span></td></tr><tr><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTphNGNiZDZjYTA3ZmY0OGQ5ODgzMjg0M2ZmNjk1NDBlZi90YWJsZXJhbmdlOmE0Y2JkNmNhMDdmZjQ4ZDk4ODMyODQzZmY2OTU0MGVmXzItMC0xLTEtNTEwNDQy_315a736d-303a-4145-a2d8-5b65f4908158">147</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" name="tef:DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTphNGNiZDZjYTA3ZmY0OGQ5ODgzMjg0M2ZmNjk1NDBlZi90YWJsZXJhbmdlOmE0Y2JkNmNhMDdmZjQ4ZDk4ODMyODQzZmY2OTU0MGVmXzItMS0xLTEtNTEwNDQy_520b1a79-c9e9-4006-8c12-7d7d2bb5df1a">147</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTphNGNiZDZjYTA3ZmY0OGQ5ODgzMjg0M2ZmNjk1NDBlZi90YWJsZXJhbmdlOmE0Y2JkNmNhMDdmZjQ4ZDk4ODMyODQzZmY2OTU0MGVmXzItMi0xLTEtNTEwNDQy_39f32dcb-ecc8-4018-90d8-924c2bdb5d0a">138</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" name="tef:IncreaseInIncomeDueToReasonablyPossibleDecreaseInActuarialAssumption" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTphNGNiZDZjYTA3ZmY0OGQ5ODgzMjg0M2ZmNjk1NDBlZi90YWJsZXJhbmdlOmE0Y2JkNmNhMDdmZjQ4ZDk4ODMyODQzZmY2OTU0MGVmXzItMy0xLTEtNTEwNDQy_fbb7b3c3-25ab-4c72-915e-d85d2077e01d">138</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A 100 b.p. increase in the discount rate would reduce the value of the liabilities by <ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzU4NDE_39f32dcb-ecc8-4018-90d8-924c2bdb5d0a">138</ix:nonFraction> million euros and have a positive impact on the income statement of <ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" name="tef:IncreaseInIncomeDueToReasonablyPossibleDecreaseInActuarialAssumption" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzU5MDQ_fbb7b3c3-25ab-4c72-915e-d85d2077e01d">138</ix:nonFraction> 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 <ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzYwMzI_315a736d-303a-4145-a2d8-5b65f4908158">147</ix:nonFraction> million euros and have a negative impact on the income statement of <ix:nonFraction unitRef="eur" contextRef="ie7b25e2cd79745c7a308479f7d8047fc_I20221231" decimals="-6" name="tef:DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzYwOTU_520b1a79-c9e9-4006-8c12-7d7d2bb5df1a">147</ix:nonFraction> million euros before tax.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b) Provisions for dismantling of assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfOtherProvisionsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTM2_0d4784b9-d8c2-489c-9927-8cb07ed7cbce" continuedAt="i698da3c38ffc4cf59c5f129d986db93d" escape="true">The movement of provision for dismantling of assets in 2022 and 2021 is as follows: </ix:nonNumeric></span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-113</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="if2609bdca75f4b0dbb0aa5b66be69b2b" continuedAt="i97113703c5594cf08c00c79443041cd7"><ix:continuation id="i698da3c38ffc4cf59c5f129d986db93d" continuedAt="i2c4b583ac86849ff92f0240932df07d3"><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:70.811%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.989%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i905d36696d4141bda77e1bc20b549492_I20201231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzEtMS0xLTEtNTEwNDQy_a749daad-ffe2-4f1d-9a83-ff5a854dbdaa">677</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4b5cad7685d24b10b369ee8e3f8d90af_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionalProvisionsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzItMS0xLTEtNTEwNDQy_fa6c77bf-ba5e-4e9f-894f-d47cc65e9064">36</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:AccretionToProvisionsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzMtMS0xLTEtNTEwNDQy_e2b097b4-7ea0-4ff3-899b-2d41e82feba7">39</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4b5cad7685d24b10b369ee8e3f8d90af_D20210101-20211231" decimals="-6" name="ifrs-full:ProvisionUsedOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzQtMS0xLTEtNTEwNDQy_b41220d4-380c-4933-beae-091ee9e518ca">35</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4b5cad7685d24b10b369ee8e3f8d90af_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzUtMS0xLTEtNTEwNDQy_546c10e6-2855-4083-945b-8cd6aea85d30">4</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i55a6ef441f95478fbfeb089e997725c3_D20220101-20221231" decimals="-6" name="ifrs-full:DecreaseThroughTransferToLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSaleOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzYtMS0xLTEtODkyNDIx_5dd8f572-85aa-4064-bb4c-57760150232d">47</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i55a6ef441f95478fbfeb089e997725c3_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionalProvisionsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzgtMS0xLTEtNTEwNDQy_b2421171-f00d-4b14-b2ae-c3827388c178">141</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i55a6ef441f95478fbfeb089e997725c3_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzEzLTEtMS0xLTUxMDQ0Mg_c54b7a8d-2d0e-43b3-94e1-830bdaeedc7a">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowYzhiYjk1MDM3MWY0NzQ5ODg3MDExY2YwZGNiM2QzYS90YWJsZXJhbmdlOjBjOGJiOTUwMzcxZjQ3NDk4ODcwMTFjZjBkY2IzZDNhXzE0LTEtMS0xLTUxMDQ0Mg_fa97d815-90fd-4eb6-b9da-a3b037cea1a6">528</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business sale&#8221; in 2021 included the second phase of the sale of towers by Telefonica Germany (see Note 2).  </span></div><div 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzEtMi0xLTEtNTEwNDQy_7594c30b-d295-4c86-b1e3-4d9a0b323cdd">21</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaaec9bb21d5c40a58ff918dfbfb9bdb2_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzItMS0xLTEtNTEwNDQy_05ff16b9-0cd4-4e0f-ab5d-72f4195dfc67">323</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if9219efdb6044b3d8e4d23fca9cab611_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzItMi0xLTEtNTEwNDQy_26e0acd2-3374-4251-b2ce-68b6ed973bf8">396</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id269150af2064758a0af3f80e5acebc2_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzMtMS0xLTEtNTEwNDQy_364beed2-e1c9-4452-8def-6852d48d655e">71</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i15b12656be3442aca5d5d1b560dba184_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzMtMi0xLTEtNTEwNDQy_b7f5c225-e390-4adf-a572-23de457ec38c">60</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie2631876d0d249709a994d4ed8db26a5_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzUtMS0xLTEtNTEwNDQy_0b5f49bc-5336-4946-a78e-77707a61ed07">116</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0ceb10962ed04a47af1eab6aac372caf_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzUtMi0xLTEtNTEwNDQy_21d3f38a-c8b9-418a-9120-5129f05fa7d4">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i67d03e02315d458680a97e250e91b913_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzctMS0xLTEtNTEwNDQy_905cf6a3-22e1-4a98-9292-3b598e880782">528</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie89ca8e57a3746ff9770d2122284f803_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxODM0NmU2NDQ5NDY0MzYwOGIyOTZiZTRjYzJlZTllNi90YWJsZXJhbmdlOjE4MzQ2ZTY0NDk0NjQzNjA4YjI5NmJlNGNjMmVlOWU2XzctMi0xLTEtNTEwNDQy_6dcde798-3aa3-4d82-89a3-b04ff982afc7">577</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Other provisions </span></div><ix:continuation id="i2c4b583ac86849ff92f0240932df07d3"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in &#8220;Other provisions&#8221; in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4e10191b6fd84237888657cd5d7b0666_I20201231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzEtMS0xLTEtNTEwNDQy_902b8cae-613a-4d34-bb80-ddbaf77e6689">1,894</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia29142d009d24c06836622d51c6411e6_D20210101-20211231" decimals="-6" name="ifrs-full:AdditionalProvisionsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzItMS0xLTEtNTEwNDQy_e75db28b-2e26-460b-8872-60159471d0b2">795</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia29142d009d24c06836622d51c6411e6_D20210101-20211231" decimals="-6" name="ifrs-full:ProvisionUsedOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzMtMS0xLTEtNTEwNDQy_cc842f40-1141-4115-b244-57b3c39cc2e5">600</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia29142d009d24c06836622d51c6411e6_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzQtMS0xLTEtNTEwNDQy_51be61b4-2512-44c9-8853-1661cbda1999">45</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia29142d009d24c06836622d51c6411e6_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzUtMS0xLTEtNTEwNDQy_84d86d08-5fe8-4682-96a7-9d67d168ad0a">6</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid 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style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions and accretion</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6aa0157b01fc4356b01387599b11bb57_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionalProvisionsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzctMS0xLTEtNTEwNDQy_e9d7bdf4-bec4-4462-811d-0cabee1c9dcc">856</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6aa0157b01fc4356b01387599b11bb57_D20220101-20221231" decimals="-6" name="ifrs-full:ProvisionUsedOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzgtMS0xLTEtNTEwNDQy_06ef0cd1-ee85-4bbc-846d-9107edd6fefa">646</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6aa0157b01fc4356b01387599b11bb57_D20220101-20221231" decimals="-6" name="ifrs-full:AcquisitionsThroughBusinessCombinationsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzktMS0xLTEtOTM3NjM4_1d6dda18-db64-493f-bcce-fa5eff844c2a">226</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6aa0157b01fc4356b01387599b11bb57_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzktMS0xLTEtNTEwNDQy_43169715-dc1f-488e-adab-416d42e889b6">7</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6aa0157b01fc4356b01387599b11bb57_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzEwLTEtMS0xLTUxMDQ0Mg_4a7f17ef-a104-4e64-bfb2-0464c7c70756">73</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4a246d32871549c58492ee8980775d60_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzExLTEtMS0xLTUxMDQ0Mg_f0946792-c22d-406a-a645-2a771ce58695">2,630</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2022 mainly correspond to provisions related to the acquisition of mobiles assets of Oi (see Note 5).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Group is exposed to risks of claims and litigation, mainly relating to tax and regulatory proceedings, and labor and civil claims.  </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-114</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i97113703c5594cf08c00c79443041cd7" continuedAt="i7a325ccb16724a25a6b99373670dcae3"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given &#160;&#160;&#160;&#160;the nature of the risks covered by these provisions, no reliable schedule of potential payments, if any, can be determined. </span></div><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Brazil</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#244;nica Brasil, S.A. and its subsidiaries are party to administrative and judicial proceedings and labor, tax and civil claims filed in different courts. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:61.070%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.816%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzEtMi0xLTEtNTEwNDQy_8d969bb1-4682-4175-b0b9-06912c33bbad">340</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Regulatory proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i48637070d43346b2954c81a9dbd95f25_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzItMS0xLTEtNTEwNDQy_35d6d23c-6ed2-4f4b-86e5-e7a4d8f883fb">336</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iecff45270b514432ba078c2f242b39b4_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzItMi0xLTEtNTEwNDQy_90eb5811-18a9-47b7-b614-fe66b9e45392">314</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Labor claims</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if44912dbe672495e99d9db1f2e42ed6b_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzMtMS0xLTEtNTEwNDQy_1765ff15-d979-4ad4-a652-6478b9547722">97</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31b8c1067de74c2b91854df115b6bf2c_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzMtMi0xLTEtNTEwNDQy_ada448d9-6196-4e3a-8fc4-d8af5c641fb7">77</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Civil proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4583c131b0c422d903096074d055ecb_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzQtMS0xLTEtNTEwNDQy_588a43d9-0118-4eb3-8290-fb53d7bd31ff">214</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8668bbf00c95476b94f08ad7085693e7_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzQtMi0xLTEtNTEwNDQy_4dd74c7c-081e-4669-8a1c-21f0f845c647">148</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts to be refunded to customers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id5ebf15cc9d2408aba24c180d1724958_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzUtMS0xLTEtODEwMTIw_5890d991-077c-4bef-9a3b-7e1c5c606a1a">108</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i47d3b81dc94744baadfd725e5d8e4b3b_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzUtMi0xLTEtODEwMTIw_ecc30a15-9f41-4dad-97d9-248d07e64d1d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provision for fines for canceling lease agreements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i19597167562d4e05bd18c6b200ba143c_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzYtMS0xLTEtODEwMTIw_ae086d6b-58b4-4899-9351-ee81846b025a">99</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie166d9db0d4248f1b676d494c73a3e0e_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzYtMi0xLTEtODEwMTIw_20fa8113-55c0-4621-87a5-e11978c27077">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid 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colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0dcdbb38dcff4ceeb2de0c186d0a0e42_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo3NWFmMjkxNjMzNjc0ZDg3YTZkMWUzZDllMjE5OWUxNi90YWJsZXJhbmdlOjc1YWYyOTE2MzM2NzRkODdhNmQxZTNkOWUyMTk5ZTE2XzUtMi0xLTEtNTEwNDQy_26805a53-d90e-4a42-a72d-e5fc30f7a0a1">879</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica Brazil recognized contingent liabilities according to IFRS 3 generated on</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> acquisition of the controlling interest of Vivo Participa&#231;oes in 2011, GVT in 2015 and the mobile assets of Oi in 2022 (see Note 5). 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The provision in Telef&#243;nica Brasil at December 31, 2022 amounted to <ix:nonFraction unitRef="eur" contextRef="id5ebf15cc9d2408aba24c180d1724958_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDgyNjg_5890d991-077c-4bef-9a3b-7e1c5c606a1a">108</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Provision for fines for canceling lease agreements" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">relates to the acquisition of Garliava, resulting from the sale or shutdown of sites (see Note 5).</span></div><ix:continuation id="iffa57485eee84b5ea58b7bc63b4dc871" continuedAt="i0a7aa892b4054236be5093f79d4c401d"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of provisions for tax proceedings by nature of risk is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:61.070%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.816%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Federal taxes</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i18ff53f308ed48769d9cd6edb533796e_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzEtMS0xLTEtNTEwNDQy_2d882d26-2562-4c54-a5ba-35543c4ab48b">140</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5080476db60042cd9c53b239f965f876_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzEtMi0xLTEtNTEwNDQy_ecd057b7-4d6f-41c4-b4f3-35a935173560">118</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">State taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i81b41887e2414746bbb1e49141e9539f_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzItMS0xLTEtNTEwNDQy_12b3d540-adcc-4f87-ab07-311ac1da528b">200</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8814a09548fb4864a5a40f3b4940cf13_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzItMi0xLTEtNTEwNDQy_6dae3c6a-b774-4e99-b331-bca9f318d52a">133</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Municipal taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7261ef690c2d4f718d363a49cfc65e79_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzMtMS0xLTEtNTEwNDQy_e88aa631-a524-46a4-bffe-81279330fc50">8</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i687b3dc3186144c7bc73f1856dc65386_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzMtMi0xLTEtNTEwNDQy_5438d517-3d7d-4aca-82d7-366187e93756">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FUST</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iee6ff27afb2148da8a87f75343ca03e3_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzQtMS0xLTEtNTEwNDQy_15afe392-9eff-4ff4-ba38-747bc7f09069">98</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8e37683fc2a44360b80747a14719ffc2_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzQtMi0xLTEtNTEwNDQy_5df6fe52-ef9e-4d57-aca6-a5ffe1120100">83</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie44f48b3fca34af0becd93f922149791_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzUtMS0xLTEtNTEwNDQy_b3e17191-484f-4ec8-8294-4fcb7ce44bf2">446</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b1ea3180e024f2ca7d76eb000cabe3f_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpkZjBmYzI1ZjM5NzA0OGIwYjdlZjk2YWM1MzA1NmE3YS90YWJsZXJhbmdlOmRmMGZjMjVmMzk3MDQ4YjBiN2VmOTZhYzUzMDU2YTdhXzUtMi0xLTEtNTEwNDQy_b3f4bc85-5e28-47ad-9482-159ca07cec86">340</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-115</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i7a325ccb16724a25a6b99373670dcae3"><ix:continuation id="i0a7aa892b4054236be5093f79d4c401d"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of changes in provisions for tax proceedings in 2022 and 2021 is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:70.935%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.865%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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#bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with a counterparty in the income statement</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5827f21f56e4301a8dc7725ff99d2dd_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:UnusedProvisionReversedOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTozMzQ1YTgzMTFiYmI0NDRmOTUyNGMxNTBkNDA2NDUwNi90YWJsZXJhbmdlOjMzNDVhODMxMWJiYjQ0NGY5NTI0YzE1MGQ0MDY0NTA2XzMtMS0xLTEtNTEwNDQy_8efcf3c0-4f92-4b54-b1db-1980d664e5ef">44</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Write-offs due to payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5827f21f56e4301a8dc7725ff99d2dd_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTozMzQ1YTgzMTFiYmI0NDRmOTUyNGMxNTBkNDA2NDUwNi90YWJsZXJhbmdlOjMzNDVhODMxMWJiYjQ0NGY5NTI0YzE1MGQ0MDY0NTA2XzYtMS0xLTEtNTEwNDQy_c1b58fc7-a7b9-4b4d-9d10-44f66003d08c">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b1ea3180e024f2ca7d76eb000cabe3f_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTozMzQ1YTgzMTFiYmI0NDRmOTUyNGMxNTBkNDA2NDUwNi90YWJsZXJhbmdlOjMzNDVhODMxMWJiYjQ0NGY5NTI0YzE1MGQ0MDY0NTA2XzgtMS0xLTEtNTEwNDQy_05182fd4-156b-4c69-8619-5e7e90534bbb">340</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with a counterparty in the income statement</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTozMzQ1YTgzMTFiYmI0NDRmOTUyNGMxNTBkNDA2NDUwNi90YWJsZXJhbmdlOjMzNDVhODMxMWJiYjQ0NGY5NTI0YzE1MGQ0MDY0NTA2XzEyLTEtMS0xLTUxMDQ0Mg_c516dc46-09b2-41d7-99b0-5d456f8b9ba2">37</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie44f48b3fca34af0becd93f922149791_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTozMzQ1YTgzMTFiYmI0NDRmOTUyNGMxNTBkNDA2NDUwNi90YWJsZXJhbmdlOjMzNDVhODMxMWJiYjQ0NGY5NTI0YzE1MGQ0MDY0NTA2XzE0LTEtMS0xLTUxMDQ0Mg_daba327c-26e1-45a8-9855-99e4e80d743e">446</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <ix:nonFraction unitRef="brl" contextRef="ibecf4756237543269a0ea32c5264bb3b_I20221231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDczMTg_0e4ade9c-b383-4185-8ab5-e5acc69cc914">33,473</ix:nonFraction> million Brazilian reals (<ix:nonFraction unitRef="eur" contextRef="ibecf4756237543269a0ea32c5264bb3b_I20221231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzg2NzU_0ac73822-c2b2-4af8-80d3-3d92c16f51b9">6,009</ix:nonFraction> million euros) as of </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (<ix:nonFraction unitRef="brl" contextRef="i45db5dd4e6214c51a2e10812a4a3a444_I20211231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDczNzE_30aeffeb-1575-46b2-9639-1d90f4ac2c73">30,249</ix:nonFraction> million Brazilian reals, <ix:nonFraction unitRef="eur" contextRef="i45db5dd4e6214c51a2e10812a4a3a444_I20211231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDg3NTg_dc0108be-b373-466a-b35b-b1b747665ce0">4,786</ix:nonFraction> million euros as of </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). The possible contingencies from the main income tax proceedings (federal tax) are described in Note 25.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Noteworthy state tax-related contingencies include the "ICMS" tax (see Note 25). Moreover, Telef&#243;nica Brazil presently has different open proceedings regarding the Fundo de Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es (FUST, refer to Note 29). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to regulatory proceedings, Telef&#243;nica Brazil is party to administrative proceedings against Agencia Nacional de Telecomunica&#231;&#245;es (ANATEL) based on an alleged failure to meet sector regulations and judicial proceedings to contest sanctions applied by ANATEL at the administrative level. Consolidated provisions totaled <ix:nonFraction unitRef="brl" contextRef="i48637070d43346b2954c81a9dbd95f25_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDg4NzQ_83c5f298-045f-4c7b-b35c-77d19fad1e76">1,869</ix:nonFraction> million Brazilian reals (<ix:nonFraction unitRef="eur" contextRef="i48637070d43346b2954c81a9dbd95f25_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzk0MTA_f9f4d3de-5e8a-4401-a48d-b268b0e28e1d">336</ix:nonFraction> million euros) at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2022 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(<ix:nonFraction unitRef="brl" contextRef="iecff45270b514432ba078c2f242b39b4_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDkwMjE_db2056bb-fbd2-439d-861d-fa1c807a138f">1,986</ix:nonFraction> million Brazilian reals, <ix:nonFraction unitRef="eur" contextRef="iecff45270b514432ba078c2f242b39b4_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDY3MjA_8a0e2ca4-acfc-49d7-ad61-1ade8df4146e">314</ix:nonFraction> million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). In addition, Group management and legal counsel understand that losses are possible from regulatory contingencies amounting to <ix:nonFraction unitRef="brl" contextRef="i8042daa89dc14f9392ab7204ff8a7ede_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDkxMTM_bc58598d-36c3-45f1-9d16-3f194f79eed7">5,845</ix:nonFraction> million Brazilian reals (<ix:nonFraction unitRef="eur" contextRef="i8042daa89dc14f9392ab7204ff8a7ede_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzk1NzI_8b131b84-1b39-4b5a-b0c3-64c6b94a5055">1,049</ix:nonFraction> million euros) at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (<ix:nonFraction unitRef="brl" contextRef="icaf529cb206646b98a30ff42ab90fc19_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDkxNTM_d56aa2d8-ae7c-436d-a6af-1a886abb59e1">4,545</ix:nonFraction> million Brazilian reals, <ix:nonFraction unitRef="eur" contextRef="icaf529cb206646b98a30ff42ab90fc19_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDY3MzE_0fae81cf-d8d4-4ff2-898f-6e5dc9bf9642">719</ix:nonFraction> million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), including the sanction for breaches of the Fixed Telephony Regulation (see Note 29.a). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, Group management and legal counsel understand that losses are possible from civil proceedings, amounting to <ix:nonFraction unitRef="eur" contextRef="i70bec8c573db4434841c851dff982818_I20221231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzk4MjI_b123a3b4-5130-4c9f-849a-0e3d70f7780f">391</ix:nonFraction> million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (<ix:nonFraction unitRef="eur" contextRef="i04696e76e6384f4ca0470caa044cc59c_I20211231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzc2OTY1ODE0MDY3Mzk_0e69172e-89d8-4c63-b07c-60ff50b3224c">335</ix:nonFraction> million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfProvisionsForJudicialDepositsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTUz_ce3b1389-297c-4faa-9ee9-288dd72cc590" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:60.888%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.907%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax proceedings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id8f31d63de2445189a474e784d21da04_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzEtMS0xLTEtNTEwNDQy_4c14589d-d809-4e9f-ab79-d1d560cd1d39">280</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i022e3b8601e24a39b57fc43f31cce08e_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzEtMi0xLTEtNTEwNDQy_6d540115-c5ad-4a14-b5ca-d9fdd80f0ada">238</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Labor claims</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifda5e2f543b4440a89622e1f050f1dc6_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzItMS0xLTEtNTEwNDQy_29688089-3d7f-4c6b-99e4-483b703577f5">21</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i76a8c38f889946c18311d07843f89ac2_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzItMi0xLTEtNTEwNDQy_507e4dc0-7082-49c5-a359-dd4bd54b724a">29</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Civil proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5fe28a468047427f824be96f8f7b6bd5_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzMtMS0xLTEtNTEwNDQy_ba26e345-bb21-4ceb-81f4-cb54ce3f96e8">248</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7228d27b2fa740168bc8c8c0e2eb5a5b_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzMtMi0xLTEtNTEwNDQy_de45ff2a-52cb-4ee3-b731-b78db2ed37ba">132</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Regulatory proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia42aa5d9e7c04c9baa135c13e54e1852_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzQtMS0xLTEtNTEwNDQy_c118614c-dbed-4a72-b3ea-624850f9243d">54</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icea4e25cae5d45f8a6cf608ccb17430e_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzQtMi0xLTEtNTEwNDQy_16a5a22f-d0bb-46d6-8bc0-daf9523bbb47">45</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Garnishments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6d0b25c80bf941d4bd9d97b7224978d9_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzUtMS0xLTEtNTEwNDQy_7e318579-0a09-45f9-9c07-fdcde93194f1">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i517bdf512f7e4c53a3c2c65f518337b8_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzUtMi0xLTEtNTEwNDQy_b2004edb-c8ed-4cc7-87f6-5d930ebf5259">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i905746a3d78f41bf8c6f3928ec5d3bfb_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzYtMS0xLTEtNTEwNDQy_54d2b9bf-0691-4dc7-b846-4f9f1f7ca79b">607</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic2a51599913a4ee78462e677284a4b9f_I20211231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzYtMi0xLTEtNTEwNDQy_c0f4691b-e7eb-4f2c-b359-2903918a4378">448</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current (see Note 15)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i905746a3d78f41bf8c6f3928ec5d3bfb_I20221231" decimals="-6" name="ifrs-full:OtherShorttermProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzctMS0xLTEtNTEwNDQy_7a4fdfc6-be70-4729-90ef-b1c63082625e">106</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic2a51599913a4ee78462e677284a4b9f_I20211231" decimals="-6" name="ifrs-full:OtherShorttermProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzctMi0xLTEtNTEwNDQy_937b9136-7ebd-4e31-868a-adac0b7619fa">17</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current (see Note 12)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i905746a3d78f41bf8c6f3928ec5d3bfb_I20221231" decimals="-6" name="ifrs-full:OtherLongtermProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzgtMS0xLTEtNTEwNDQy_6d58b64a-8982-4d65-8220-8e3d8571d061">501</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic2a51599913a4ee78462e677284a4b9f_I20211231" decimals="-6" name="ifrs-full:OtherLongtermProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzgtMi0xLTEtNTEwNDQy_8a19e458-c706-4173-9e18-b3933b546c6a">431</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="margin-bottom:9pt;margin-top:9pt"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-116</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_349"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 25. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfIncomeTaxExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM0OTYz_3ed7de57-0421-415c-9760-fefcf935c67d" continuedAt="ic3b90b8ef938424ba15b89338bcf241e" escape="true">Tax matters</ix:nonNumeric></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><span><br/></span></div><ix:continuation id="ic3b90b8ef938424ba15b89338bcf241e" continuedAt="i6f4be7ad800240d4819b9e2f33c04c9b"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to a Ministerial Order dated December 27, 1989, Telef&#243;nica, S.A. files consolidated tax returns in Spain for certain Group companies. The consolidated tax group comprised </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="company" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="tef:NumberOfConsolidatedTaxGroupCompanies" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIwOA_db57907e-cc93-4d9f-b1ce-90f4a005e035">47</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> companies at December 31, 2022 (<ix:nonFraction unitRef="company" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="INF" name="tef:NumberOfConsolidatedTaxGroupCompanies" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIyOA_b652c36c-a536-4b15-a9d5-aecd3b4ff867">45</ix:nonFraction> companies at December 31, 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deferred taxes movement</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM0ODYw_94ab552a-ea1c-41ba-b05d-9368121de0e1" continuedAt="i9e96b290c0cb47de892daffb8c39db59" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in deferred taxes in the Telef&#243;nica Group in 2022 and 2021 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:63.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.643%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax assets</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzEtMS0xLTEtNTEwNDQy_d7276350-7224-4a5e-abb1-af9cf9cef64a">5,616</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzEtMi0xLTEtNTEwNDQy_32694843-b2b4-4c10-aa46-664672e32033">2,602</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzMtMS0xLTEtNTEwNDQy_1c4b740e-8c0b-4da0-9cef-a7eadff8a355">1,877</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzMtMi0xLTEtNTEwNDQy_f5183c59-dc9d-43a3-b6d2-4946bb3bbe3b">400</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzQtMS0xLTEtNTEwNDQy_6a9b0852-c6de-4e3a-b8ef-d3a75d49b758">21</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzQtMi0xLTEtNTEwNDQy_eed01cb8-d437-46bb-b342-66f48b626957">30</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesDeferredTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzUtMS0xLTEtNTEwNDQy_37985dc0-3682-4166-8bb8-71a94c17203c">42</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzUtMi0xLTEtNTEwNDQy_af353e68-c943-452c-befd-5ae60835ce4e">184</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company movements and others</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseInCompanyMovementsDeferredTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzYtMS0xLTEtNTEwNDQy_e432b814-2376-4a7c-9173-5e6817ad3d71">2</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseInCompanyMovementsDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzYtMi0xLTEtNTEwNDQy_8deabbe1-a8e9-4ab4-953d-6032ff93c226">26</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzctMS0xLTEtNTEwNDQy_1f6ccb2b-01b3-457b-83fa-bbd3dd7655ff">4,884</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzctMi0xLTEtNTEwNDQy_d5cd6a51-599f-4082-aa18-9ec81175b029">3,067</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td 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style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzEtMS0xLTEtNTEwNDQy_d253a27d-a2c0-4e3c-b7c9-ab8a28baa89c">6,416</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzEtMi0xLTEtNTEwNDQy_e40c17df-3412-48f4-9b33-fafb3766d292">2,620</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzItMS0xLTEtNTEwNDQy_a79d81b8-e269-43d0-9aa9-303a02066582">952</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzItMi0xLTEtNTEwNDQy_94857015-8a2d-442d-a0cc-ae5d9bba9ba6">499</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzMtMS0xLTEtNTEwNDQy_83e0c47d-ba50-423a-bbb7-28a676d27415">1,697</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzMtMi0xLTEtNTEwNDQy_291ee492-bfff-4ab0-bc0d-986d7ec90e04">472</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzQtMS0xLTEtNTEwNDQy_b700295b-dc54-466c-b543-dfb910c61ead">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzQtMi0xLTEtNTEwNDQy_f969de80-fafa-422d-9798-0a1c2a2730e9">60</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseThroughTranslationDifferencesDeferredTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzUtMS0xLTEtNTEwNDQy_214fe69f-1502-4ef4-a40f-4fe5616d110c">36</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseThroughTranslationDifferencesDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzUtMi0xLTEtNTEwNDQy_1776fd8d-9b98-400d-a77a-45e0c7f13718">42</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company movements and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInCompanyMovementsDeferredTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzYtMS0xLTEtNTEwNDQy_bd2e1fa0-abcf-4cf8-ad11-322e3823c43f">21</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInCompanyMovementsDeferredTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzYtMi0xLTEtNTEwNDQy_4008c69c-78c5-4c5d-9a5a-ed219de2951f">27</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzctMS0xLTEtNTEwNDQy_d6671e45-e9dd-4176-b35e-78c9577961ea">5,616</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTowNzg3MzRmODBjYzM0YmExOWE4ZDFiODczOGQ2MjBlYy90YWJsZXJhbmdlOjA3ODczNGY4MGNjMzRiYTE5YThkMWI4NzM4ZDYyMGVjXzctMi0xLTEtNTEwNDQy_0a49120b-2055-4345-b204-2564f8f1266f">2,602</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main changes registered in 2022</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2022, Telef&#243;nica was notified of the Supreme Court's ruling rejecting the appeal filed by the State Attorney's Office against the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supreme Court's </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ruling of October 29, 2021, which had upheld the criteria for the use of tax losses and deductions maintained by Telef&#243;nica in relation to the settlement agreements arising from the corporate income tax audit for those years (see Inspections of the tax group in Spain in this note). On October 24, 2022, the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supreme Court's</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ruling was enforced, ordering the refund to Telef&#243;nica of <ix:nonFraction unitRef="eur" contextRef="i53675fc904924efc97a8ad72f598bf15_I20221024" decimals="-6" name="tef:TaxRefundReceivableFromTaxPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MTA3Njk_fac47303-42a3-45bb-931a-44df4465fd73">790</ix:nonFraction> million euros for taxes paid in those years, as well as <ix:nonFraction unitRef="eur" contextRef="i53675fc904924efc97a8ad72f598bf15_I20221024" decimals="-6" name="tef:TaxRefundInterestReceivableFromTaxPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MTA3NTQ_2f5dd52a-9320-486e-a7e5-736502a3ef33">526</ix:nonFraction> million euros in late-payment interest (see "Breakdown of financial result" in Note 19). As a result of the new assessments made, in 2022 tax credits of Telef&#243;nica, S.A.'s tax group that had been capitalized at December 31, 2021, amounting to <ix:nonFraction unitRef="eur" contextRef="i0597012abdaa4a51a2d25ecd6e1cdaa8_D20220101-20221231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MTA3NjQ_360ed66e-6160-4cab-a204-8c6a00bc756d">512</ix:nonFraction> million euros for tax loss carryforwards and <ix:nonFraction unitRef="eur" contextRef="i0597012abdaa4a51a2d25ecd6e1cdaa8_D20220101-20221231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForDeductions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MTA3NTk_4aac614e-e85c-4544-b43d-e8b51a36a241">278</ix:nonFraction> million euros for tax credits, were derecognized. Also, in relation to the above, an addition of deferred tax assets of the tax group was recorded, with a balancing entry in the income tax of the consolidated income statement of tax loss carryforwards in the amount of <ix:nonFraction unitRef="eur" contextRef="i37467b7a33c84bccb97d3d35d0e6a5dd_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3Mjc2MTg_ad3ece2b-cfab-4986-814d-93940cb2dea9">58</ix:nonFraction> million euros and a derecognition of tax credits for deductions in the amount of <ix:nonFraction unitRef="eur" contextRef="i0597012abdaa4a51a2d25ecd6e1cdaa8_D20220101-20221231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForTaxCredits" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3Mjc2MjI_a2b9fc29-5c73-45df-9dad-91e20985e76f">16</ix:nonFraction> million euros.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-117</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i6f4be7ad800240d4819b9e2f33c04c9b" continuedAt="ib45f9ac02ded4c6197453c405762f98a"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022, the consortium formed by CAA and Vauban (see Note 2) acquired <ix:nonFraction unitRef="number" contextRef="i621c7354ff5946f882cba2b456eae0c6_D20221220-20221220" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE2NDkyNjc2MTM2Mjk_00749e5a-d1aa-4326-80c4-d4019b61cecf">45</ix:nonFraction>% of Bluevia Fibra, S.L. (Bluevia) for an amount of <ix:nonFraction unitRef="brl" contextRef="i348a21c24edd444bb81f1cf086c65ed2_I20220420" decimals="-6" name="ifrs-full:CashTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MTMwNzA_5586de56-8df6-442a-b5ed-c22ee28d6cf6">1,021</ix:nonFraction> million euros in cash. The transaction has not had any impact on the consolidated income statement as it is a change in the percentage of ownership that has not resulted in a loss of control. In the context of this transaction, Bluevia acquired from Telef&#243;nica de Espa&#241;a a number of assets constituting the business object of Bluevia (see Note 29.c) at their fair value at the transaction date, which was higher than the pre-existing net book value, generating an accounting gain at the headquarters of Telef&#243;nica de Espa&#241;a which, as Bluevia is outside the consolidation perimeter of the tax group of Telef&#243;nica, S.A., forms part of the taxable income of the aforementioned tax group.  However, from an accounting point of view, this difference in value is not reflected in the consolidated accounts as it is a transaction between companies of the same Group. The difference between the tax value of these assets in Bluevia and their book value in the Group's consolidated accounts has generated an asset for deductible temporary differences amounting to <ix:nonFraction unitRef="brl" contextRef="ic8ffb8453018454fb15cd6a2ba2a9634_I20220420" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MTMwODA_7dc8456c-c3c7-4810-b12b-6ac34a86831b">548</ix:nonFraction> million euros, recorded as additions in the table above.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the estimated recoverability of the deferred tax assets of the companies that continue to form part of the tax group after the exit of Bluevia has been assessed. As a result of this analysis, a reversal of deferred tax assets for tax loss carryforwards amounting to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MDMzMjk_383f404a-a8f6-4b6a-a895-95a53e19a79a">85</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForDeductions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MDMzMzM_efede02b-fd5d-4836-93da-d66e07fa39da">112</ix:nonFraction> million euros of deductions has been recorded.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 there were additions of deferred tax assets for <ix:nonFraction unitRef="eur" contextRef="i3f00a8a3feab480985cb1d838ff77861_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwMTY_76e6f116-1a72-4ca1-9a72-bc839a497821">10</ix:nonFraction> million euros as a result of the provisions recognized during the year in relation to the various workforce restructuring plans and other obligations with employees of the companies include in the group in Spain (see Note 24). Likewise, disposals of deferred tax assets in 2022 included the impact of the materialization of these provisions and its financial update, amounting to <ix:nonFraction unitRef="eur" contextRef="ia687bdd116a2446ab6164107616ab3da_D20220101-20221231" decimals="-6" name="tef:DisposalOfTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwMjA_3d7b8962-bcc1-4a98-b7fa-c15e91f7ab37">319</ix:nonFraction> million euros. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Germany recognized tax credits for loss carryforwards generated in previous years amounting to <ix:nonFraction unitRef="eur" contextRef="ifbcac9542437491cb3e499fbd4b5fa4b_D20220101-20221231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwNTE_ee0c8725-0774-4976-b4aa-793ab505d55b">76</ix:nonFraction> million euros and applied tax loss carryforwards amounting to <ix:nonFraction unitRef="eur" contextRef="i5d10128094434893886f062e79fc01e1_I20221231" decimals="-6" name="tef:AppliedTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwNTg_205a2fc4-ce3a-4000-b3c0-3a11be7642ce">46</ix:nonFraction> million euros in 2022. Furthermore, Telef&#243;nica Germany recognized deferred tax liabilities disposals amounting to <ix:nonFraction unitRef="eur" contextRef="ifbcac9542437491cb3e499fbd4b5fa4b_D20220101-20221231" decimals="-6" name="tef:DisposalOfTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwNjU_b34f57dd-2ae8-4b6a-a720-17babaeca20a">42</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The additions of deferred tax assets included tax credits recognized for <ix:nonFraction unitRef="eur" contextRef="i2865ce76e5e94f14b380b4c2011b3f03_D20220101-20221231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwNzI_6dfd6e7d-5a2b-4a6c-8131-3719aae62755">76</ix:nonFraction> million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2022 amounting to <ix:nonFraction unitRef="eur" contextRef="i7810d7aa5a6b4e0bb1f1a880ef32628b_I20221231" decimals="-6" name="tef:AppliedTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwNzk_9b84099a-4101-404a-b82a-889410f3a0b5">76</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil recognized deferred tax assets amounting to <ix:nonFraction unitRef="eur" contextRef="i7fd6e2c01c514f02bd1a097242110014_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwODY_6bcaa891-2c71-48cb-a677-571b52c20d53">78</ix:nonFraction> million euros and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">applied tax loss carryforwards amounting <ix:nonFraction unitRef="eur" contextRef="i7fd6e2c01c514f02bd1a097242110014_I20221231" decimals="-6" name="tef:AppliedTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxMDA_dac8731e-65f4-4989-b9f8-f1ff5735d4a9">86</ix:nonFraction> million euros in 2022. I</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">n addition Telef&#243;nica Brazil, recognized deferred tax liabilities amounting to <ix:nonFraction unitRef="eur" contextRef="i7fd6e2c01c514f02bd1a097242110014_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgwOTM_474aacd4-32ae-4c16-8191-8a4ec2871d9a">59</ix:nonFraction> million euros and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">disposals amounting to <ix:nonFraction unitRef="eur" contextRef="i29217a2edd16425aa66b5d6ea6c5ad8b_D20220101-20221231" decimals="-6" name="tef:DisposalOfTaxLiability" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxMDc_930e908d-968f-4a5a-bcc8-13fb15597765">212</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Colombia recognized deferred tax assets amounting to <ix:nonFraction unitRef="eur" contextRef="i9c4e7a69e8be4421863bb6b5b8009878_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxMTU_bbd57eec-f85f-4be7-b365-c4d28afc9141">26</ix:nonFraction> million euros and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">applied tax loss carryforwards amounting <ix:nonFraction unitRef="eur" contextRef="i9c4e7a69e8be4421863bb6b5b8009878_I20221231" decimals="-6" name="tef:AppliedTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxMjI_6b6e7a63-5825-463b-8af7-65c8d16d0597">119</ix:nonFraction> million euros in 2022. Furthermore, </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">recognized deferred tax liabilities amounting to <ix:nonFraction unitRef="eur" contextRef="i9c4e7a69e8be4421863bb6b5b8009878_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxMjc_3ac41534-eedf-4958-8de4-8e257f2ae321">22</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements relating to deferred taxes recognized directly in equity in 2022 amounted to <ix:nonFraction unitRef="eur" contextRef="iccf6dee0a083419f9e89e0d3fb2a0eaf_D20220101-20221231" decimals="-6" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxMzc_a2b0b95d-3bee-4611-b838-a8de2a4439d9">238</ix:nonFraction> million euros of additions (net position of higher deferred tax liabilities) and <ix:nonFraction unitRef="eur" contextRef="i95d7841f0ec7417e991f100a71c70042_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxNDU_672c378c-8120-4d0a-ab72-5a0c17890928">44</ix:nonFraction> million euros of disposals (net position of higher deferred tax </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">liabilities</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, the amount of recognized deferred tax liabilities associated with investments in subsidiaries amounted to <ix:nonFraction unitRef="eur" contextRef="i480b874e672b4b69afd083faeaad2672_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxNTI_ad5582f9-b8be-4888-880d-6f5084743b05">319</ix:nonFraction> million euros as of December 31, 2022 (<ix:nonFraction unitRef="eur" contextRef="i419a15a751454d6b8f3d2271bf63030d_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxNjA_626bd695-66cb-4627-8a06-d88dc62413c0">220</ix:nonFraction> million euros as of December 31, 2021). The amount of unrecognized deferred tax liabilities associated with investments in subsidiaries amounted to <ix:nonFraction unitRef="eur" contextRef="i480b874e672b4b69afd083faeaad2672_I20221231" decimals="-6" name="ifrs-full:TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxNjg_6efb112d-56cf-42ad-8968-5aba6e67e7ea">234</ix:nonFraction> million euros as of December 31, 2022 (<ix:nonFraction unitRef="eur" contextRef="i419a15a751454d6b8f3d2271bf63030d_I20211231" decimals="-6" name="ifrs-full:TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTgxNzY_11f4e627-5058-4096-9e0c-2f0ebfd6b24d">256</ix:nonFraction> million euros as of December 31, 2021).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main changes registered in 2021</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Following the recoverability analysis of the Tax Group's deferred tax assets in Spain as of December 31, 2021, a reversal of deferred tax assets for tax loss carryforwards and deductions was recorded, with a balancing entry in income tax, amounting to <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForTaxLossCarryforwardsAndDeductions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE4OTE_73917530-228e-4de5-8b78-62b7d12d3b5e">294</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE5MDk_e5526c27-0096-4ae0-b500-e95149977fdb">69</ix:nonFraction> million euros of tax loss carryforwards and <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForDeductions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE5NTY_7b532cf5-6777-43fd-8a76-219724c85d7b">225</ix:nonFraction> million euros of deductions).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In addition in 2021, the company completed the tax audit procedure for the years 2014 to 2017, which involved the consumption of deferred tax assets amounting to <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:DisposalOfTaxAssetLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIxNTI_c3c94362-27d3-4ce2-91cd-7a34e9627967">199</ix:nonFraction> million euros of tax loss carryforwards and <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:DisposalOfTaxAssetDeductions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIxOTk_772444a0-1d01-4a64-8b40-5d4494f15a26">193</ix:nonFraction> million euros of deductions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In addition to this, d</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">eferred tax liabilities and the associated deferred tax asset of <ix:nonFraction unitRef="eur" contextRef="i224a6fa6c7b04c3286d60b0199a6686f_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIzMjI_57ae649f-3fa3-4c70-b078-231f8d82dbb4"><ix:nonFraction unitRef="eur" contextRef="i224a6fa6c7b04c3286d60b0199a6686f_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIzMjI_a10a0e39-8643-4645-bf93-46eda460e133">143</ix:nonFraction></ix:nonFraction> million euros was derecognized, after the state aid recuperation procedure corresponding to the years 2005 to 2018 goodwill tax amortization (see Tax deductibility of financial goodwill in Spain, later in this note).</span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-118</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib45f9ac02ded4c6197453c405762f98a" continuedAt="i8b8f9f3ceeb644b29a8681c12b5259b2"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2021 there were additions of deferred tax assets for <ix:nonFraction unitRef="eur" contextRef="i7a9df4d0fbb24c7aaa3261b558999ce9_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI2MDI_307efb81-7407-4c06-b58a-eee04b57f10b">348</ix:nonFraction> million euros as a 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 2021 included the impact of the materialization of these provisions, amounting to <ix:nonFraction unitRef="eur" contextRef="i144ffb815b844772a12925583929c11c_D20210101-20211231" decimals="-6" name="tef:DisposalOfTaxAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI5NTk_8c8a52ec-7b84-4262-ad9a-6784149e18ad">240</ix:nonFraction> million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil recognized deferred tax assets amounting to <ix:nonFraction unitRef="eur" contextRef="i4eb83a0bb7294b95a507407b0643b609_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzMwMzk_66e2e70b-4d00-4e94-82ba-da73dc61bfb3">221</ix:nonFraction> million euros, mainly as a consequence of the Federal Supreme Court ruling of September 24, 2021, recognizing the unconstitutionality of the taxation in the Corporate Income Tax of interest received on taxes unduly paid in previous periods. In addition, recognized deferred tax liabilities amounting to <ix:nonFraction unitRef="eur" contextRef="i4eb83a0bb7294b95a507407b0643b609_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzMzNDQ_a1dcc3d1-3084-4523-a0c0-0879354cf2ab">179</ix:nonFraction> million euros mainly related to the tax amortization of goodwill.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Germany recognized tax credits for loss carryforwards generated in previous years amounting to <ix:nonFraction unitRef="eur" contextRef="ic8db44f2e88f47bcae0873d1233bd9d4_D20210101-20211231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzgyNDYzMzczODAyOTU_43ca2d14-c560-4b2f-ac3a-91507ea37016">77</ix:nonFraction> million euros and applied tax loss carryforwards amounting to <ix:nonFraction unitRef="eur" contextRef="if448c5e46d604f0cb6df746d0d7a52ec_I20211231" decimals="-6" name="tef:AppliedTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MjcwMTY_140e41ab-3030-4f1d-95ce-81fdfa49c2e5">118</ix:nonFraction> million euros in 2021. Furthermore, Telef&#243;nica Germany recognized deferred tax liabilities disposals amounting to <ix:nonFraction unitRef="eur" contextRef="if448c5e46d604f0cb6df746d0d7a52ec_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MjcwMjE_9055ebf6-701a-4796-b191-9abb6f613062">110</ix:nonFraction> million euros.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The additions of deferred tax assets included tax credits recognized for <ix:nonFraction unitRef="eur" contextRef="i06b1d3c442014ed295878a8581a5c7b6_D20210101-20211231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM3NjI_32691ec2-91fb-4cdd-8e06-aa90013ca3b4">72</ix:nonFraction> million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2021 amounting to <ix:nonFraction unitRef="eur" contextRef="id9558ef2b1b047519e664d8a9d30ca43_I20211231" decimals="-6" name="tef:AppliedTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM5MDc_a40b2eb5-9dcb-41cc-bb3f-94114dbcbed8">66</ix:nonFraction> million euros.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In September 2021, the Social Investment Law (Law 2155 of 2021) was approved in Colombia, which establishes that as of 2022, the general income tax rate for legal entities is 35%. As a result of this amendment, the company recorded deferred tax assets additions of <ix:nonFraction unitRef="eur" contextRef="i44ba16d257804683975773f7f90fef63_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzQxOTE_52593421-da0d-4118-84a2-c06b396c62ba">71</ix:nonFraction> million euros in 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements relating to deferred taxes recognized directly in equity in 2021 amounted to <ix:nonFraction unitRef="eur" contextRef="ida354d31bec14ddda439073eacd3fc04_D20210101-20211231" decimals="-6" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzQzMDE_8f0a74c0-b9e1-4f05-a907-541741be1763">27</ix:nonFraction> million euros of additions (net position of higher deferred tax liabilities) and <ix:nonFraction unitRef="eur" contextRef="i299c1d69d9e24694984aa3a430576e04_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzQzODU_40af10ca-6888-46b1-bc30-8be783458c24">196</ix:nonFraction> million euros of disposals (net position of higher deferred tax assets).</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Expected realization of deferred tax assets and liabilities</span></div><ix:continuation id="i9e96b290c0cb47de892daffb8c39db59" continuedAt="i3b441007e6fb446580ff8482c205f4c4"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated realization of deferred tax assets and liabilities recognized in the consolidated statement of financial position in 2022 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 1 year</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i31665b51de05497e9a4d4d47e3ae739e_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo0ZDYxYThlYWUyMTg0YWVlOWE2M2JkNmVhZGUyNGFlYi90YWJsZXJhbmdlOjRkNjFhOGVhZTIxODRhZWU5YTYzYmQ2ZWFkZTI0YWViXzItMS0xLTEtNTEwNDQy_ed3c5d42-5ed3-43ce-bd50-b9bb52e9b216">4,884</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieab361d9d89342958702e0ee246b85a3_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo0ZDYxYThlYWUyMTg0YWVlOWE2M2JkNmVhZGUyNGFlYi90YWJsZXJhbmdlOjRkNjFhOGVhZTIxODRhZWU5YTYzYmQ2ZWFkZTI0YWViXzItMi0xLTEtNTEwNDQy_645d56e8-c1c4-45eb-8fd0-203a56ace7ea">749</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i76c83488ed4541b19e84029ea878bac5_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo0ZDYxYThlYWUyMTg0YWVlOWE2M2JkNmVhZGUyNGFlYi90YWJsZXJhbmdlOjRkNjFhOGVhZTIxODRhZWU5YTYzYmQ2ZWFkZTI0YWViXzItMy0xLTEtNTEwNDQy_10053561-404e-498b-a046-d166aecf88b5">4,135</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3d2969376ca54af1a9a59820f04d2736_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo0ZDYxYThlYWUyMTg0YWVlOWE2M2JkNmVhZGUyNGFlYi90YWJsZXJhbmdlOjRkNjFhOGVhZTIxODRhZWU5YTYzYmQ2ZWFkZTI0YWViXzMtMS0xLTEtNTEwNDQy_39a11be2-cd77-422e-b0c5-4e6673e00fb7">3,067</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibd8f5d53f60042ed95bfed1a11496dcd_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo0ZDYxYThlYWUyMTg0YWVlOWE2M2JkNmVhZGUyNGFlYi90YWJsZXJhbmdlOjRkNjFhOGVhZTIxODRhZWU5YTYzYmQ2ZWFkZTI0YWViXzMtMi0xLTEtNTEwNDQy_bcb8c1e3-e13d-43ac-b01a-bf67f2664fab">296</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib88bba9e98484fafbc7a6a729034f5ff_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo0ZDYxYThlYWUyMTg0YWVlOWE2M2JkNmVhZGUyNGFlYi90YWJsZXJhbmdlOjRkNjFhOGVhZTIxODRhZWU5YTYzYmQ2ZWFkZTI0YWViXzMtMy0xLTEtNTEwNDQy_627bd665-3fb1-4ba3-b519-2aba960cb826">2,771</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-bottom:5pt;margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets less than one year mainly come from the Tax Group in Spain </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(<ix:nonFraction unitRef="eur" contextRef="i8db2db632c9b443ea9b893d9a13c8be1_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzkyMTE_be800741-61a5-4a07-9b3c-4c98b2d9500a">458</ix:nonFraction> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros at December 31, 2022).</span></div></ix:continuation><div style="margin-bottom:5pt;margin-top:5pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-119</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i8b8f9f3ceeb644b29a8681c12b5259b2" continuedAt="i9c0ca487f6b644d499af6ab468451345"><div style="margin-bottom:5pt;margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deferred tax assets</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i3b441007e6fb446580ff8482c205f4c4" continuedAt="i78fb9f2ee19f423793d0bad993beba5a"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:63.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.643%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax credits for loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iedab36216f7b40949a5fda271468cf1b_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzEtMS0xLTEtNTEwNDQy_58ec4110-61f6-4e80-903b-33196d50e065">2,011</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if94911472c394081b72507090c4730f6_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzEtMi0xLTEtNTEwNDQy_7384941d-4941-4c56-97e5-a30b47981b21">2,639</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unused tax deductions</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i93f507df315f405ebc5c898d7bc781b6_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzItMS0xLTEtNTEwNDQy_3910d129-e8b2-4086-8cda-b33e7e5422e2">565</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8eb44300d8a04c9a9b35be089c6533a4_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzItMi0xLTEtNTEwNDQy_abc15eb3-adbe-4738-947f-b43989b24fa8">903</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets for temporary differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8c61ba2a038b4433ad996f7f8596d202_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzMtMS0xLTEtNTEwNDQy_2ee124a9-209c-47aa-a004-d6b3928b3a08">2,308</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6d742a1810e3416299b3767bfb1856d2_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzMtMi0xLTEtNTEwNDQy_0d1f70c4-03c6-404d-ad87-9cfc268d53c0">2,074</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44de1e394b2a4d85b9e2e2969d2c6c8f_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzQtMS0xLTEtNTEwNDQy_b876a98f-e12d-4e99-8608-f59e5d2fc968">4,884</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2NzgxMjI1ODI0OTQ0YmI1ODAxNDZmMWIxYmIzZTY5OS90YWJsZXJhbmdlOjY3ODEyMjU4MjQ5NDRiYjU4MDE0NmYxYjFiYjNlNjk5XzQtMi0xLTEtNTEwNDQy_9fe59a81-91e4-4b8d-bb46-e9d45c1b88b9">5,616</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax credits for loss carryforwards</span></div><ix:continuation id="i78fb9f2ee19f423793d0bad993beba5a" continuedAt="i86a551debf5e483db95710b9898b6ce2"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in Tax credits for loss carryforwards in the Telef&#243;nica Group in 2022 and 2021 are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.864%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.034%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.452%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location of the company (Millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reversals</span></td><td colspan="3" style="border-top:1pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i51859652a2244d74b2bf9236abfb44e4_D20220101-20221231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2MjExMzIwZDFiNGY0ZGEyOGJiOGUwM2RmNzg0NTc3Ni90YWJsZXJhbmdlOjYyMTEzMjBkMWI0ZjRkYTI4YmI4ZTAzZGY3ODQ1Nzc2XzEtMi0xLTEtNTEwNDQy_87696e9c-0363-4360-b500-7ebc1953cfb0">58</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 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style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3d2969376ca54af1a9a59820f04d2736_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo2MjExMzIwZDFiNGY0ZGEyOGJiOGUwM2RmNzg0NTc3Ni90YWJsZXJhbmdlOjYyMTEzMjBkMWI0ZjRkYTI4YmI4ZTAzZGY3ODQ1Nzc2XzUtNi0xLTEtNTEwNDQy_b19a08a8-6703-43c9-a6af-af01e1df9991">2,011</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i30bd21de0d2444aca865403a1b842449_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzMtNi0xLTEtNTEwNDQy_8e4bed18-65c9-428d-9e2f-d17b16de0680">861</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib6e29f285a8d4bfea9ba0ce59050ebd3_I20201231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzQtMS0xLTEtNTEwNDQy_59e84252-89a1-4abb-88cc-024e28759123">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idd653318fa0a4ca1b7c0d5d3726ced81_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzQtNC0xLTEtNTEwNDQy_dbfaccef-ab30-4a14-8a8c-5be1671b580a">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="idd653318fa0a4ca1b7c0d5d3726ced81_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzQtNS0xLTEtNTEwNDQy_c0dd3e73-b09b-4afc-8b6d-66edffe96619">1</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib69de5aecd304a97bd429670af4f6b5a_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzQtNi0xLTEtNTEwNDQy_b171ffbb-fd1e-4f39-9a9c-80979c51976e">1</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total tax credits for loss carryforwards</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid 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colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i82348c55904e44b3a328bfad9be5dea6_D20210101-20211231" decimals="-6" name="ifrs-full:IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzUtMi0xLTEtNTEwNDQy_b47d24eb-e9a7-4289-a8d5-e92d7c93a7b2">435</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i82348c55904e44b3a328bfad9be5dea6_D20210101-20211231" decimals="-6" sign="-" name="ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzUtNS0xLTEtNTEwNDQy_20e63248-9a3e-4bab-8e47-39f2656fe087">31</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i183e222e7e014087a6077c0594aea88d_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyZTBiNWEyMmVlM2U0Y2QxYmI1ODIxNjg5NzMxZTRmZi90YWJsZXJhbmdlOjJlMGI1YTIyZWUzZTRjZDFiYjU4MjE2ODk3MzFlNGZmXzUtNi0xLTEtNTEwNDQy_0d12504f-c924-494e-88c9-8c8a741804a9">2,639</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Spanish tax group considers that unused tax loss carryforwards in Spain, taking into account tax litigation in which the group is involved, amount </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzgyNDYzMzcyNDgwNzg_44cba6c9-e1f1-4d7d-b5fa-bd603d3fde1a">3,825</ix:nonFraction> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">million euros at December&#160;31, 2022:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 1 year</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax loss carryforwards generated in the tax group</span></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3d2969376ca54af1a9a59820f04d2736_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo4ZjRhN2NhMTczNWU0MTIxYmY0OGEyODJjNTA1ZDM4NC90YWJsZXJhbmdlOjhmNGE3Y2ExNzM1ZTQxMjFiZjQ4YTI4MmM1MDVkMzg0XzEtMS0xLTEtNTEwNDQy_2300a7c2-7ddc-401a-a459-6f87769ef2d4">1,755</ix:nonFraction></span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibd8f5d53f60042ed95bfed1a11496dcd_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo4ZjRhN2NhMTczNWU0MTIxYmY0OGEyODJjNTA1ZDM4NC90YWJsZXJhbmdlOjhmNGE3Y2ExNzM1ZTQxMjFiZjQ4YTI4MmM1MDVkMzg0XzEtMi0xLTEtNTEwNDQy_79a9f0a2-6bab-4a30-861b-a0bdf139b0d2">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib88bba9e98484fafbc7a6a729034f5ff_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo4ZjRhN2NhMTczNWU0MTIxYmY0OGEyODJjNTA1ZDM4NC90YWJsZXJhbmdlOjhmNGE3Y2ExNzM1ZTQxMjFiZjQ4YTI4MmM1MDVkMzg0XzEtMy0xLTEtNTEwNDQy_b79d30ed-4de1-429c-85cc-75cb490c5ecc">1,755</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax loss carryforwards generated before consolidation in the tax group</span></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i29f633d5f5c3469985adb63a013dc420_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo4ZjRhN2NhMTczNWU0MTIxYmY0OGEyODJjNTA1ZDM4NC90YWJsZXJhbmdlOjhmNGE3Y2ExNzM1ZTQxMjFiZjQ4YTI4MmM1MDVkMzg0XzItMS0xLTEtNTEwNDQy_b2167b97-8564-4af6-9765-47c0c9a1d0d3">2,070</ix:nonFraction></span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if6d7536bafb04b36a7513a8a4cf857ad_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo4ZjRhN2NhMTczNWU0MTIxYmY0OGEyODJjNTA1ZDM4NC90YWJsZXJhbmdlOjhmNGE3Y2ExNzM1ZTQxMjFiZjQ4YTI4MmM1MDVkMzg0XzItMi0xLTEtNTEwNDQy_925f1068-52cf-416a-88dd-3068d6c4b718">143</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0162593ad7764995a70298fb28e14825_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo4ZjRhN2NhMTczNWU0MTIxYmY0OGEyODJjNTA1ZDM4NC90YWJsZXJhbmdlOjhmNGE3Y2ExNzM1ZTQxMjFiZjQ4YTI4MmM1MDVkMzg0XzItMy0xLTEtNTEwNDQy_f25e5454-0fc2-475e-b2d7-c5a54f4bf1f8">1,927</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total tax credits for loss carryforwards in Spain in the statement of financial position at December 31, 2022 amounted </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to <ix:nonFraction unitRef="eur" contextRef="i5448aa5cd13f415095b6be0f6a1982ab_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2OTg1NDI_85fd9e8e-0124-4585-a544-161783eeeede">457</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros (<ix:nonFraction unitRef="eur" contextRef="i6e9b4be9278847a6a8ddc968f9e9c702_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2OTg1NTA_eb81d6aa-2233-4d74-9276-c26398907182">999</ix:nonFraction> million euros at December 31, 2021). Total unrecognized tax credits for loss carryforwards of the Spanish tax group amounted to</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> <ix:nonFraction unitRef="eur" contextRef="i5448aa5cd13f415095b6be0f6a1982ab_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2OTg1NTg_7daf6adf-cb95-4b81-a576-ddbf3a99e623">498</ix:nonFraction> m</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">illion euros. These tax credits do not expire.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group companies in Germany have recogn</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ized <ix:nonFraction unitRef="eur" contextRef="if5be3a4f9cf74695aeb65ffe9cf5ece9_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MzA3NTY_9a114617-b1c8-46c2-9c85-25a1d2f83081">810</ix:nonFraction> milli</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">on euros of tax credits for loss carryforwards at December&#160;31, 2022. Total unrecognized tax credits for loss carryforwards of these companies amount t</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o <ix:nonFraction unitRef="eur" contextRef="if5be3a4f9cf74695aeb65ffe9cf5ece9_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MzA3NzI_9a167956-b851-4367-afa3-5524f9d1584c">5,452</ix:nonFraction> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros. These tax credits do not expire. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recognized tax credits in the consolidated statement of financial position arising from the Latin American subsidiaries at December&#160;31, 2022 amounted to </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="ie31ed704ef5a464f837cf316177cf408_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MzA4MDA_748bc480-f130-4175-8e7e-2e6c37490436">741</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros. Total unrecognized tax credits for tax loss carryforwards in Latin America amounted to</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> <ix:nonFraction unitRef="eur" contextRef="ie31ed704ef5a464f837cf316177cf408_I20221231" decimals="-6" name="ifrs-full:UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MzA4MTQ_908e78c6-b390-44ae-96b4-92121965ab23">683</ix:nonFraction> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-120</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i9c0ca487f6b644d499af6ab468451345" continuedAt="i10f78e06803f490e8d3f89baffcc3e8a"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deductions</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group has recognized <ix:nonFraction unitRef="eur" contextRef="i8dbb8f4af2b549ae9b0c6a42ff27c805_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MzA4NDA_82a395b3-a666-4c19-b5d0-09ac1ce3a8c3">565</ix:nonFraction> million euros of tax credits from deductions at December&#160;31, 2022, in Spain (<ix:nonFraction unitRef="eur" contextRef="i8de18850e45449cf9db721173dcd0595_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzgyNDYzMzcyNDg0NTI_925846c7-067a-4258-ac39-e56c8416473a">903</ix:nonFraction> millIon euros in 2021), generated primarily from export activity, R+D+i, double taxation and donations to non-profit organizations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Temporary differences</span></div><ix:continuation id="i86a551debf5e483db95710b9898b6ce2"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sources of deferred tax assets and liabilities from temporary differences recognized at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:63.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.643%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75de10af76984221a20fc15ce5ecddd8_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzEtMS0xLTEtNTEwNDQy_d90b8d58-132b-4c72-a5ca-c0873d5efa4d">828</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic637cadfa85c4028a880115596cd66b8_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzEtMi0xLTEtNTEwNDQy_02d87428-40ac-4d5b-a8f7-85e219bc9016">244</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idc1cd4988f8d4051acc97c74ca0f281c_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzItMS0xLTEtNTEwNDQy_6a6574ff-a5b4-44b0-928c-c45713880850">473</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic786c3c49fba455fb60dd18cb91012e2_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzItMi0xLTEtNTEwNDQy_cad2d208-5c23-4ece-941f-8743a42bad33">350</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Personnel commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i17aa32da02ad44ee9ca31e6e43a2340e_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzMtMS0xLTEtNTEwNDQy_a05d8f57-3ce9-4491-9c4c-87f7c22c18c6">1,278</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia2a964681bcf4f10a19a461a616ce180_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzQtMS0xLTEtNTEwNDQy_bfc4ad12-bc00-4a1f-b6ca-ff9e2168f9d6">935</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i596c9cbdb0db44df96dc627260e7e86e_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzQtMi0xLTEtNTEwNDQy_98a2642b-1c32-44c4-8bdf-dc81ba1a2962">817</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzYtMS0xLTEtNTEwNDQy_5861eac9-a3de-45d9-8e37-a88ea4935c8a">324</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i748908811ff748849a2c2487d625060f_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzYtMi0xLTEtNTEwNDQy_a5286242-b98b-40a5-b0e5-c7536eb75cdd">308</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0228320840a34d1191656b6ab751d3a2_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzctMS0xLTEtNTEwNDQy_873b8036-21c3-4f37-bf53-4a5f1443980e">51</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia104ce4cb0fe4d00b1a6cea73531de80_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzctMi0xLTEtNTEwNDQy_ab34c87e-93bf-4894-ae61-e1e77ddf2f9b">59</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie812a06c2bdc40fd9ccbcaac2d90db01_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzgtMS0xLTEtNTEwNDQy_53bbbb48-dd42-4ff2-be18-7c08217e7ce8">1,049</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic6aa6f06f7cd4bf4a9af4998394eff37_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzgtMi0xLTEtNTEwNDQy_d11db588-fd83-44f7-adbb-82fc7e4e4352">1,068</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie62670b12e6a4686ae18caccdd853f0f_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzktMS0xLTEtNTEwNDQy_299c2d8d-86ce-43b1-b2ec-1120a97b2109">267</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieffb353ff9304027b3f97b64a4720f1a_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzktMi0xLTEtNTEwNDQy_06922eb4-ac92-45e1-8a42-73e5316d40c9">187</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets for temporary differences</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i016265a88a6345a2b622ea3a3c8ec5c8_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzEwLTItMS0xLTUxMDQ0Mg_5b39db83-8bf4-4c21-a73e-c4d33e21e990">4,610</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzExLTEtMS0xLTUxMDQ0Mg_e6cb2fe3-0939-43d4-b340-0dea11beca74">2,897</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" sign="-" name="tef:DeferredTaxLiabilitiesAssetsOffset" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzExLTItMS0xLTUxMDQ0Mg_3fb85d7c-da85-44ab-a732-e13c51ad1713">2,536</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets for temporary differences registered in the statement of financial position</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id90c8ea4556347828387743160fa458a_I20221231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzEyLTEtMS0xLTUxMDQ0Mg_89c84c42-61cf-4ce0-9a1a-27cce4cadfdc">2,308</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0472c464c23345ec8d83bfbd964dc0a9_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpiNDNjYTYyMGNmNzc0YTA3OTQzMTZjODM5MTUwNDgxOC90YWJsZXJhbmdlOmI0M2NhNjIwY2Y3NzRhMDc5NDMxNmM4MzkxNTA0ODE4XzEyLTItMS0xLTUxMDQ0Mg_a5db22c2-75bd-4967-a4cd-c9da7a031a8d">2,074</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:63.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.643%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia2a964681bcf4f10a19a461a616ce180_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzQtMS0xLTEtNTEwNDQy_728f8cef-5803-41ac-b106-8246cc99bd16">447</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia709feee3495496e9bc8ae186a675abe_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzUtMi0xLTEtNTEwNDQy_871b2c26-aff8-4f84-a144-35550ace0c2f">278</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories and 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzktMS0xLTEtNTEwNDQy_455793a1-5d5e-4ed5-83a3-72b8e5aa8aad">833</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieffb353ff9304027b3f97b64a4720f1a_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzktMi0xLTEtNTEwNDQy_4d09b23d-7c6c-4ea8-a5a1-f995fecc6a01">431</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax liabilities for temporary differences</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5058b91c94f3415babcd355af1e80c13_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzEwLTEtMS0xLTUxMDQ0Mg_d59de441-7f4c-49b6-8b91-a70b9c768ada">5,964</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i016265a88a6345a2b622ea3a3c8ec5c8_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzEwLTItMS0xLTUxMDQ0Mg_99231586-7de2-4ab8-b39c-28a697886d33">5,138</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzExLTEtMS0xLTUxMDQ0Mg_1e67a938-0060-4ea6-b1c7-71418c1704c6">2,897</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" sign="-" name="tef:DeferredTaxLiabilitiesAssetsOffset" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzExLTItMS0xLTUxMDQ0Mg_0053c362-3788-44f6-b110-cb5b1c963fe3">2,536</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax liabilities for temporary differences registered in the statement of financial position</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id90c8ea4556347828387743160fa458a_I20221231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzEyLTEtMS0xLTUxMDQ0Mg_019f0f2b-5399-4f14-be87-cd6aa844ac99">3,067</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0472c464c23345ec8d83bfbd964dc0a9_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzEyLTItMS0xLTUxMDQ0Mg_7bf62159-adc4-473a-8b26-e67a0d227170">2,602</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The heading "Other concepts&#8221; includes, among others, the difference between the accounting and tax values created by the value of financial derivatives at year end (see Note 19). </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-121</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i10f78e06803f490e8d3f89baffcc3e8a" continuedAt="ia8d0c9bd7b5a4c00aeb079089a9651f4"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax payables and receivables</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM0OTUy_1ccf7692-1fa5-4790-b193-8814872e5da5" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current tax payables and receivables at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:63.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.643%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax payables</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax withholdings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentTaxWithholdings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzItMS0xLTEtNTEwNDQy_56d2a3b1-3bb9-42e7-b09a-08b8fa59064d">96</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentTaxWithholdings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzItMi0xLTEtNTEwNDQy_493a969d-9387-490c-9d79-aaedba438b7f">98</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indirect taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentIndirectTaxesPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzMtMS0xLTEtNTEwNDQy_bc9cbdcc-7d73-4635-9bf5-3132ea075edb">390</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentIndirectTaxesPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzMtMi0xLTEtNTEwNDQy_99d5b0ba-ddae-4771-84d3-8e12e69e8ab4">476</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Social security</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzQtMS0xLTEtNTEwNDQy_2a575ec6-64f9-434c-b09a-63609a9bbe13">114</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzQtMi0xLTEtNTEwNDQy_f46d352b-3afc-4a41-a573-cd54e6b922d5">163</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income taxes payable</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentIncomeTaxesPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzUtMS0xLTEtNTEwNDQy_5b09e783-5a06-4146-8f16-48ab2a8ccc8e">957</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentIncomeTaxesPayable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzUtMi0xLTEtNTEwNDQy_5ae91050-9a05-4758-9058-f2011b7ee2e0">1,120</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:OtherTaxesPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzYtMS0xLTEtNTEwNDQy_06e7a800-e99b-46b8-8d17-9759a78207d7">363</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:OtherTaxesPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzYtMi0xLTEtNTEwNDQy_c0107c27-334b-4baa-987d-853e9221206d">169</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentTaxLiabilitiesCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzctMS0xLTEtNTEwNDQy_9351cac2-c3b4-4b6f-91c1-4048625b2ddf">1,920</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentTaxLiabilitiesCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzctMi0xLTEtNTEwNDQy_778af671-1ab9-435a-a83c-d90c065c317a">2,026</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:12pt"><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentIndirectTaxesReceivable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzExLTEtMS0xLTUxMDQ0Mg_9859990f-834f-4956-93ec-0a88f5c06a5e">569</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentIndirectTaxesReceivable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzExLTItMS0xLTUxMDQ0Mg_2bb55536-cdab-4cd1-84cd-7423fa3449a8">705</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income taxes receivable</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:CurrentIncomeTaxesReceivable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzEyLTEtMS0xLTUxMDQ0Mg_21cb83b0-88b4-46e5-abc7-a70351975f5c">1,549</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:CurrentIncomeTaxesReceivable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzEyLTItMS0xLTUxMDQ0Mg_9524f01a-acb0-43af-a284-81d5018c3cdb">1,310</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:OtherTaxesReceivable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzEzLTEtMS0xLTUxMDQ0Mg_03ab2982-2068-4937-bdcb-4633f4506040">95</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="tef:OtherTaxesReceivable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzEzLTItMS0xLTUxMDQ0Mg_93526ed9-20d8-4fcc-85d7-c774f337f3fe">105</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:CurrentTaxAssetsCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzE0LTEtMS0xLTUxMDQ0Mg_ea6e1a7d-7909-4432-b7ef-a9ac91c52b96">2,213</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:CurrentTaxAssetsCurrent" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTpjNzQxNTlkNDhhZDc0OGM5OTAzMTlmMTY5NzM4ZmZjMS90YWJsZXJhbmdlOmM3NDE1OWQ0OGFkNzQ4Yzk5MDMxOWYxNjk3MzhmZmMxXzE0LTItMS0xLTUxMDQ0Mg_7441ad19-6dea-482a-9c26-98708735b1e9">2,120</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The heading "Current income taxes receivable" as of December 31, 2022 includes a receivable from Telxius Telecom amounting to <ix:nonFraction unitRef="eur" contextRef="idd9aac3b863a475ab241acb2cfcea3c8_I20221231" decimals="-6" name="tef:CurrentIncomeTaxesPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzExOTY5_99173981-4c82-4632-b9bc-1ff8413ad5d6">876</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="ieb4ad300ff3e47b6a8fb4978f2efb2da_I20211231" decimals="-6" name="tef:CurrentIncomeTaxesPayable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2Njk2Mjg_edeba0b7-4fc6-4bdd-b84f-f1fe3013162d">875</ix:nonFraction> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">as of  December 31, 2021)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> corresponding to the income tax for the 2021 fiscal year, which was mainly generated by the second advance corporation tax paid for 2021 ("minimum instalment payment regime", regulated by RDL 2/2016 of 30 September, which is calculated on the positive result of the consolidated profit and loss account of its tax group whose parent company is Telxius Telecom). The profit obtained on the sale of its tower division subsidiaries, despite being tax exempt (at 95%) from corporate income tax, was nevertheless included in the basis for calculating the instalment payment. This credit was included into consideration for the annual corporate income tax return for 2021, which was filed in July 2022. The effective recovery of this credit has taken place in January 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 13, 2021 the Supreme Court of Brazil concluded the judgment of one of the most important tax disputes in Brazil, related to the exclusion of the ICMS tax (state tax on goods and services) in the PIS/COFINS (Contribui&#231;&#227;o para Financiamento da Seguridade Social) tax base. in 2021</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> <ix:nonFraction unitRef="brl" contextRef="i4e8026a2283744139514e0605003c06f_I20211231" decimals="-6" name="tef:TaxDisputeLongTermIndirectTaxesReceivable" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzMjc1_b5f16b3a-c7f2-466a-bedd-042c1251ffed">2,269</ix:nonFraction> million Brazilian reals (equivalent to <ix:nonFraction unitRef="eur" contextRef="i4e8026a2283744139514e0605003c06f_I20211231" decimals="-6" name="tef:TaxDisputeLongTermIndirectTaxesReceivable" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzMzE3_6d444232-b9df-4800-a07c-fb00cc3fd4db">356</ix:nonFraction> million euros at the average exchange rate of 2021) have been registered in "Current income taxes receivable"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The impact in the consolidated income statement at 2021 amo</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">unted to <ix:nonFraction unitRef="brl" contextRef="i9e125c25447f48abb4e02c7312e55737_D20210101-20211231" decimals="-6" name="tef:TaxDisputeDecreaseInTaxesOtherThanIncomeTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzNDk1_1e884fb0-9e63-410c-bd0e-a8b457b40861">1,660</ix:nonFraction> million Brazilian reals (<ix:nonFraction unitRef="eur" contextRef="i9e125c25447f48abb4e02c7312e55737_D20210101-20211231" decimals="-6" name="tef:TaxDisputeDecreaseInTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzNTIz_e59f1f42-006a-43ec-a69c-2274a6e41934">261</ix:nonFraction> million euros) reducing "Taxes other than income tax" within "Other expenses" (see Note 26), <ix:nonFraction unitRef="brl" contextRef="i9e125c25447f48abb4e02c7312e55737_D20210101-20211231" decimals="-6" name="tef:TaxDisputeIncreaseInFinanceIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzNjE5_5111780a-d9dd-4483-b91d-82f1f5653ec8">573</ix:nonFraction> million Brazilian reals (<ix:nonFraction unitRef="eur" contextRef="i9e125c25447f48abb4e02c7312e55737_D20210101-20211231" decimals="-6" name="tef:TaxDisputeIncreaseInFinanceIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzNjQ3_e7bd884b-3fa6-40a9-ae71-db2801a113fe">90</ix:nonFraction> million euros) in "Finance income" (see Note 19) and <ix:nonFraction unitRef="brl" contextRef="i9e125c25447f48abb4e02c7312e55737_D20210101-20211231" decimals="-6" name="tef:TaxDisputeMonetaryUpdating" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzNzAz_614f1116-0052-48c7-9702-b8b6bc0802a0">36</ix:nonFraction> million Brazilian reals correspond to monetary updating (<ix:nonFraction unitRef="eur" contextRef="i9e125c25447f48abb4e02c7312e55737_D20210101-20211231" decimals="-6" name="tef:TaxDisputeMonetaryUpdating" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzEzNzYz_2b770c2f-6e4c-4036-a4ae-daf59011ff86">6</ix:nonFraction> million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica Brazil has another legal proceeding that became final in 2018 for which it partially recognized the credit. The remaining portion of this process, relating to the period from April 1998 to June 2002 was not recognized at that time, as Telef&#243;nica Brazil considered it to be a contingent asset and, therefore, did not meet the parameters for its accounting recognition. In August 2022, based on the evolution of more recent decisions handed down by the STF that could impact the process in question, Telef&#243;nica Brazil, supported by the opinions of its legal advisors, concluded that the aforementioned process reached the status of net recoverability and therefore would be entitled to the accounting recognition of the remaining portion of the credit. Consequently, in 2022 <ix:nonFraction unitRef="brl" contextRef="i7fd6e2c01c514f02bd1a097242110014_I20221231" decimals="-6" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MjI3MDA_ea508344-01d4-42e9-9d7d-47703b5fc1b0">1,146</ix:nonFraction> million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="i7fd6e2c01c514f02bd1a097242110014_I20221231" decimals="-6" name="ifrs-full:ReceivablesFromTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MjI1OTA_d314139a-b700-407d-9cca-e3736956da5b">212</ix:nonFraction> million euros at the average exchange rate of December, 2022) has been registered in </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Current income taxes receivable"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The impact in the consolidated income statement at 2022 amo</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">unted to <ix:nonFraction unitRef="brl" contextRef="iddd7d3771fe04108b55b254608abff17_D20220101-20221231" decimals="-6" name="tef:TaxDisputeDecreaseInTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3Xzc2OTY1ODE0ODIzNzM_15e8f8bb-e23e-4158-867f-3fd92b13cb3a">397</ix:nonFraction> million Brazilian reals (<ix:nonFraction unitRef="eur" contextRef="iddd7d3771fe04108b55b254608abff17_D20220101-20221231" decimals="-6" name="tef:TaxDisputeDecreaseInTaxesOtherThanIncomeTax" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3Xzc2OTY1ODE0ODIzODE_0401dfd8-e9ae-46b3-9e2d-40706a1f10f4">73</ix:nonFraction> million euros) reducing "Taxes other than income tax" within "Other expenses" (see Note 26), <ix:nonFraction unitRef="brl" contextRef="iddd7d3771fe04108b55b254608abff17_D20220101-20221231" decimals="-6" name="tef:TaxDisputeIncreaseInFinanceIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3Xzc2OTY1ODE0ODIzODg_2a64f2b9-fb90-4c36-b1bf-ea248424187e">749</ix:nonFraction> million Brazilian reals (<ix:nonFraction unitRef="eur" contextRef="iddd7d3771fe04108b55b254608abff17_D20220101-20221231" decimals="-6" name="tef:TaxDisputeIncreaseInFinanceIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3Xzc2OTY1ODE0ODIzOTY_3df6f304-e2ef-4c2a-8b0d-e17595be3707">139</ix:nonFraction> million euros) in "Finance income" (see Note 19) and <ix:nonFraction unitRef="brl" contextRef="iddd7d3771fe04108b55b254608abff17_D20220101-20221231" decimals="-6" name="tef:TaxDisputeMonetaryUpdating" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3Xzc2OTY1ODE0ODI0MDQ_3a2f9aea-aea9-4441-b9e9-905736a13b9c">67</ix:nonFraction> million Brazilian reals correspond to monetary updating (<ix:nonFraction unitRef="eur" contextRef="iddd7d3771fe04108b55b254608abff17_D20220101-20221231" decimals="-6" name="tef:TaxDisputeMonetaryUpdating" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3Xzc2OTY1ODE0ODI0MTE_906d01de-8ef0-4a19-956c-f028a629d271">12</ix:nonFraction> million euros</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). In 2022 the Company started the offset of said credit.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 the credits pending compensation for the refund for the payments of PIS/COFINS amounting to <ix:nonFraction unitRef="brl" contextRef="i6995cf836ae948aea307b76801f9fd4e_I20221231" decimals="-6" name="tef:TaxDisputeTaxCreditsToRefundPaymentsMade" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MjI3NTU_4104f90a-ece2-4c68-b957-c191c1a58147">787</ix:nonFraction> million Brazilian reals, equivalent to <ix:nonFraction unitRef="eur" contextRef="i6995cf836ae948aea307b76801f9fd4e_I20221231" decimals="-6" name="tef:TaxDisputeTaxCreditsToRefundPaymentsMade" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MjI3NjI_1892c0f9-0694-48ee-ae03-8d34d3368774">141</ix:nonFraction> million euros at the closing exchange rate of December 31, 2022 (<ix:nonFraction unitRef="brl" contextRef="i4e8026a2283744139514e0605003c06f_I20211231" decimals="-6" name="tef:TaxDisputeTaxCreditsToRefundPaymentsMade" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MjMyODQ_107fede5-dd17-4acb-b583-73c5a0b41090">1,579</ix:nonFraction> million Brazilian reais at December 31, 2021, <ix:nonFraction unitRef="eur" contextRef="i4e8026a2283744139514e0605003c06f_I20211231" decimals="-6" name="tef:TaxDisputeTaxCreditsToRefundPaymentsMade" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2MjMyNzk_8dd82426-9ee9-439f-9649-6c1a38d39f5f">250</ix:nonFraction> million euros at the closing exchange rate).</span></div></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-122</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ia8d0c9bd7b5a4c00aeb079089a9651f4" continuedAt="ie5a55e986dc742188942ebf7149e86c8"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reconciliation of book profit before taxes to taxable income</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfReconciliationOfAccountingProfitTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM0OTg0_21a6c862-7890-409a-9795-ef1a2ffe7c44" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reconciliation between book profit before tax and the income tax expense from continuing operations for 2022, 2021 and 2020 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accounting profit before tax</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AccountingProfit" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEtMi0xLTEtNTEwNDQy_8840da5b-d192-431b-b333-781d70a450fd">12,095</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:AccountingProfit" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEtMy0xLTEtNTEwNDQy_5031e383-1622-480b-bc5b-e8fa6d522b9a">2,583</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax expense at prevailing statutory rate</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:TaxExpenseIncomeAtApplicableTaxRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzItMS0xLTEtNTEwNDQy_2fade7e6-38b6-412d-84f7-279712db57df">797</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:TaxExpenseIncomeAtApplicableTaxRate" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzItMi0xLTEtNTEwNDQy_f9b00046-6259-4398-a457-f0e43c83dfd4">2,768</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:TaxExpenseIncomeAtApplicableTaxRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzItMy0xLTEtNTEwNDQy_6c05c41d-e58b-4f7a-81bf-484f0db3fb19">532</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Permanent differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:TaxEffectOfOtherPermanentDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzMtMS0xLTEtNTEwNDQy_6899b510-b71a-4a1e-ae1c-166ca41db07e">793</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:TaxEffectOfOtherPermanentDifferences" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzMtMi0xLTEtNTEwNDQy_e98eeaaf-551c-483a-9a9f-15dbb4eca5cf">1,705</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:TaxEffectOfOtherPermanentDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzMtMy0xLTEtNTEwNDQy_f8f8f6f6-168d-436d-8eda-061099c6452b">289</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in 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colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:TaxEffectFromChangeInTaxRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzQtMi0xLTEtNTEwNDQy_a68b71af-95ad-4a16-885e-b011c6025d1f">51</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:TaxEffectFromChangeInTaxRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzQtMy0xLTEtNTEwNDQy_fd235dc0-3ded-41b1-8982-0510890ae523">14</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Capitalization)/reversal of tax deduction and tax relief</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ReversalCapitalizationOfTaxDeductionAndTaxRelief" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzUtMS0xLTEtNTEwNDQy_fcf0f3df-8552-4528-9907-f42312c61fd8">88</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ReversalCapitalizationOfTaxDeductionAndTaxRelief" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzUtMi0xLTEtNTEwNDQy_31db4fef-1513-405e-80aa-a5affe7555b1">225</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:ReversalCapitalizationOfTaxDeductionAndTaxRelief" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzUtMy0xLTEtNTEwNDQy_65175bab-6610-484e-9dc3-d16916c24b9d">103</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Capitalization)/reversal of loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ReversalCapitalizationOfLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzYtMS0xLTEtNTEwNDQy_5deb913d-8f70-4c7a-acd4-ebe8769b4b1d">197</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:ReversalCapitalizationOfLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzYtMi0xLTEtNTEwNDQy_2f2b1b50-14d0-4e12-95c8-07faafe03f19">307</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:ReversalCapitalizationOfLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzYtMy0xLTEtNTEwNDQy_e1acdeec-f66a-4756-8448-775255d408a6">88</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Increase/(decrease) in tax expense arising from temporary differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzctMS0xLTEtNTEwNDQy_f7f79fd7-51ef-4861-920a-2bd1b8b42517">43</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzctMi0xLTEtNTEwNDQy_17a8afc0-23d6-46c6-8a70-ac3c2db01129">84</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzctMy0xLTEtNTEwNDQy_7fd7ea2d-8885-4f75-b9c9-18c6a2cec438">8</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzgtMS0xLTEtNTEwNDQy_b7e0cb85-b631-492d-84d2-8a0f1b310e76">308</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzgtMi0xLTEtNTEwNDQy_0b81798b-a4d3-4f8f-9552-d2117b01e607">262</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="ifrs-full:OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzgtMy0xLTEtNTEwNDQy_f73d88b7-255c-495a-a05e-9d8c5bec8046">10</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Corporate income tax</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzktMS0xLTEtNTEwNDQy_78ea88e7-af7b-4114-a851-b6e532c76da6">641</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzktMi0xLTEtNTEwNDQy_687c36ff-500c-4777-84f6-ebc1873176f2">1,378</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzktMy0xLTEtNTEwNDQy_8102ba00-8e9a-4a8a-9b62-8e7f4b9d31b1">626</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Breakdown of 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tax expense</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CurrentTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzExLTEtMS0xLTUxMDQ0Mg_23b9b373-5eee-4510-94c1-0e056694f8e8">218</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:CurrentTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzExLTMtMS0xLTUxMDQ0Mg_c1cbb4b2-2efa-47c7-8eff-5676f7e868ee">462</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax expense</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DeferredTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEyLTEtMS0xLTUxMDQ0Mg_738e2b78-a7fd-4717-aea0-0a349fdeb62e">859</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DeferredTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEyLTItMS0xLTUxMDQ0Mg_55ff351b-933b-4c48-81b9-50d75dea64d4">547</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DeferredTaxExpenseIncome" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEyLTMtMS0xLTUxMDQ0Mg_964154db-564e-4392-ab95-798ffbad3b46">164</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Corporate income tax</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEzLTEtMS0xLTUxMDQ0Mg_e54976cb-7f17-4e2b-afd4-08fa137770b5">641</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEzLTItMS0xLTUxMDQ0Mg_9e818177-d76d-4b50-a0cb-76f2d12ffc1f">1,378</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZToyOTVhMjI0ZjBlMjE0ODUyODg1ZWQyMmI1MTM1OTUxNC90YWJsZXJhbmdlOjI5NWEyMjRmMGUyMTQ4NTI4ODVlZDIyYjUxMzU5NTE0XzEzLTMtMS0xLTUxMDQ0Mg_8bbb2995-204f-44bb-99c7-e5ebc0102276">626</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Permanent differences" in 2022, mainly includes <ix:nonFraction unitRef="eur" contextRef="i7634a2045ca54f35b3945256e1f6c7f0_D20220101-20221231" decimals="-6" sign="-" name="tef:TaxEffectOfOtherPermanentDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2NTkzMzc_d695de2a-453f-4062-a1d6-ebe3b27ff58d">651</ix:nonFraction> million of income corresponding to the last corporate simplification implemented in Brazil due to the approval in 2021 of a new Telecommunications Law (Law 14.195 of 26 August 2021), the consequent repeal of Decree 2.617/1998, which abolishes the obligation to control a telecommunications company through a Brazilian company.  </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, as a result of the closure of the tax inspection of Group 3G UMTS Holding GmbH for several years up to 2015 and once it was confirmed that no adjustment was proposed, the company has reversed the provision that had been recorded for this purpose, with an impact on Corporate income tax of <ix:nonFraction unitRef="eur" contextRef="i12dc5ba1c454468d90348ce72c360c10_D20220101-20221231" decimals="-6" name="ifrs-full:UnusedProvisionReversedOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE2NDkyNjc0NDk4ODc0_4afc1f12-003c-40b7-96ab-bad31fbb51cc">186</ix:nonFraction> million euros and in Finance income of <ix:nonFraction unitRef="eur" contextRef="i0cb95e4107b14a219e035fd763c95d82_D20220101-20221231" decimals="-6" name="ifrs-full:UnusedProvisionReversedOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE2NDkyNjc0NDk4ODc5_a7dab9f6-e117-42b6-921d-29f39a922fa0">69</ix:nonFraction> million euros. This movement has not had any cash effect.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Capitalization)/reversal of tax deduction and tax relief in 2022 mainly includes the reversal of deferred tax assets for tax credits of the Telef&#243;nica, S.A. tax group amounting to <ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForTaxCredits" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2OTk3NTY_706b7c39-19a4-44bb-ac29-73b25a67bf35">112</ix:nonFraction> million euros, with a balancing entry in deferred tax expense. </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Capitalization)/reversal of loss carryforwards in 2022 mainly includes the effect of unrecorded tax loss carryforwards generated in the year and the reversal of tax loss carryforwards generated in prior years of the Telef&#243;nica, S.A. tax group, amounting to <ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="ifrs-full:TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE1OTQyOTE4NzczMzE2_18184299-abb3-43cc-9d17-27581b6216dc">326</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231" decimals="-6" name="tef:ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE1OTQyOTE4NzczMzIx_20123217-2a81-474a-b5af-00a590fa8bfc">85</ix:nonFraction> million euros, respectively. On the other hand, the recognition of tax credits for tax loss carryforwards generated in previous years of Telef&#243;nica Germany and Group 3G UMTS Holding GmbH are included too in (Capitalization)/reversal of loss carryforwards in 2022, amounting to <ix:nonFraction unitRef="eur" contextRef="ife8b47633e614015806eecdf9dd48bef_D20220101-20221231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE1OTQyOTE4NzczMzI1_283783cd-be7e-4d27-9620-283157076d5c">152</ix:nonFraction> million euros (see Main changes registered in 2022 above in this note).</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other items in 2022 mainly include an expense of <ix:nonFraction unitRef="eur" contextRef="i3e74878ab4854791baeac57d35fc676f_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3MDE2MDA_09658f6c-68fb-4629-847f-bc347fab6935">241</ix:nonFraction> million euros as a result of the provision for tax contingencies recorded during the year by Telef&#243;nica del Per&#250; (see Tax litigation at Telef&#243;nica del Per&#250; later in this note).</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Permanent differences" in 2021 mainly included the effect of the corporate income tax exemption on capital gains generated on the constitution of VMED O2 UK and on the sale of Telxius' telecommunications tower division (see Note 2). It also included <ix:nonFraction unitRef="eur" contextRef="i52da1d26ef2743cf9de40315bfb8e8c3_D20210101-20211231" decimals="-6" name="tef:TaxEffectOfOtherPermanentDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE0NTA3_8e6da0ae-18a8-4e51-b44a-43091756f721">387</ix:nonFraction> million euros expense for the signing of the Settlement Agreement following the closure of the corporate income tax audit for the years 2014 to 2017 in Spain referred to in the section "</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inspections of the tax group in Spain</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">" of this note.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-123</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie5a55e986dc742188942ebf7149e86c8" continuedAt="ib96f3b728118474b827669b915ba267b"><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Changes in deferred tax charge due to changes in tax rates" in 2021 included the impact of the change in the corporate income tax rate in Argentina, United Kingdom and Colombia. In Argentina the Law 27,630 of June 16, 2021 of the Corporation Tax established an increase in the nominal tax rate from 30% to 35% with retroactive effect from January 1st, 2021. In addition, on May 24, 2021 a change in the nominal tax rate from 19% to 25% was substantially enacted in the United Kingdom, which will begin to apply on April 1st, 2023. In September 2021, the so-called Social Investment Law (Law 2155 of 2021) was approved in Colombia, which established that as of 2022, the general income tax rate for legal entities is 35%. As a result of these changes in tax rates, a net deferred tax effect was recorded with a counterpart in Corporate income tax, amounting to <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:TaxEffectFromChangeInTaxRate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE1NjAx_dc752f9d-ce63-4cb3-814b-0d0eb5caa972">51</ix:nonFraction> million euros.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"(Capitalization)/reversal of loss carryforwards" in 2021 included the recognition of tax credits in Telef&#243;nica Germany and Group 3G UMTS amounting to <ix:nonFraction unitRef="eur" contextRef="ic8db44f2e88f47bcae0873d1233bd9d4_D20210101-20211231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE1NzY4_e8b27871-58f9-4307-b0e4-1772774c3596">77</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="i06b1d3c442014ed295878a8581a5c7b6_D20210101-20211231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE1Nzg5_2b97377b-2ebb-46c7-aad3-64951089c845">72</ix:nonFraction> million euros, respectively, the recognition of tax credits in Brazil amounting to <ix:nonFraction unitRef="eur" contextRef="ib097b368d74f44e5a6e76b55decb560e_D20210101-20211231" decimals="-6" name="tef:TaxCreditsRecognized" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE1ODc1_e0e82840-d5ad-4c5b-9bb0-f6b4bc095081">221</ix:nonFraction> million euros as a result of the decision of the Supreme Federal Court of 24 September 2021 referred to in the section "Main changes registered in 2021" of this note, partially compensated by the reversal of the tax group in Spain amounting to <ix:nonFraction unitRef="eur" contextRef="ifbdcae98ecff432c893a290b24100829_D20210101-20211231" decimals="-6" name="tef:Reversalofdeferredtaxassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE2MTIy_2fe3c570-c132-43e3-8546-82bee5c60ae2">65</ix:nonFraction> million euros.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Increase/(decrease) in tax expense arising from temporary differences" in 2021 mainly included the effect of deductible temporary differences not recognized in Telef&#243;nica M&#233;xico, amounting to <ix:nonFraction unitRef="eur" contextRef="ibf3497650dfd492f9cac1eeee3b9076b_D20210101-20211231" decimals="-6" name="tef:IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE2MzMx_7907a225-33ae-4e25-ae53-e243433258f3">83</ix:nonFraction> million euros.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The heading "Other concepts" in 2021 included an expense of <ix:nonFraction unitRef="eur" contextRef="i7e17e943627d4e5e9e10f8bf34267f99_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE2NDA4_fb1325e5-20e1-4f47-b490-0b5ebb207fba">97</ix:nonFraction> million euros as a result of the provision for tax contingencies recorded by Telef&#243;nica del Per&#250; in the year (see "Tax litigation in Telef&#243;nica del Per&#250;" later in this note) and <ix:nonFraction unitRef="eur" contextRef="i431bc40cef68466ca8bb591e9dceedfc_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxExpenseContinuingOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE2Njcz_e7badfbe-00bd-4f45-8c3e-f43ac7d944e0">97</ix:nonFraction> million euros for the taxation of dividend income from Spanish companies.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Permanent differences" in 2020 included the effect of the non-deductible charge for the impairment losses on goodwill and other assets of Telef&#243;nica Argentina (see Note 7). </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"(Capitalization)/reversal of loss carryforwards" in 2020 included the recognition of tax credits in Telef&#243;nica Germany and Group 3G UMTS amounting to <ix:nonFraction unitRef="eur" contextRef="i0915537e22184cb8a9fe9c7dd9ec2afc_D20200101-20201231" decimals="-6" name="tef:Reversalofdeferredtaxassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE3MDcy_49af2bff-c3a1-4025-93bf-d587c98c03ea">159</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="i6bea8aefc2c4444f8242e48c5b610c4c_D20200101-20201231" decimals="-6" name="tef:Reversalofdeferredtaxassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE3MDkz_49f9d710-7501-4a64-b82d-f653b7bfae41">24</ix:nonFraction> million euros, respectively, partially compensated by the reversal of the tax group in Spain amounting to <ix:nonFraction unitRef="eur" contextRef="i1a2b58f3a49f4e6c9a9786b5edbcdb1f_D20200101-20201231" decimals="-6" name="tef:Reversalofdeferredtaxassets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE3MjAy_1f5c700b-1908-42d6-a7b4-5627b2eb21e8">101</ix:nonFraction> million euros.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Increase/(decrease) in tax expense arising from temporary differences" in 2020 mainly included the recognition of deferred tax assets amounting to <ix:nonFraction unitRef="eur" contextRef="i1bc30021e3024590b674df461f30ea72_D20200101-20201231" decimals="-6" name="tef:IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE3MzY2_243dd772-bffa-4376-9b6e-ed386756b17f">184</ix:nonFraction> 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 Telef&#243;nica M&#233;xico, amounting to <ix:nonFraction unitRef="eur" contextRef="ia6e7170c782342d4a59aac1c63bd79fc_D20200101-20201231" decimals="-6" name="tef:IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE3NTky_fb1f3359-975b-4e4d-8f83-71cbf51abe24">152</ix:nonFraction> million euros.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax deductibility of financial goodwill in Spain </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tax regulations added article 12.5 to the Spanish Corporate Income Tax Law, which came into force on January 1, 2002. The article regulated the deductibility of tax amortization of financial goodwill (fondo de comercio) arising from the acquisition of non-Spanish companies, which could be amortized over 20 years at 5% per annum.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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&#160;31, 2022, was <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:TaxEffectOfImpairmentOfGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzE5NjE5_2a887f88-b88e-46f2-aa03-0fb47de9c373">2,042</ix:nonFraction> million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-124</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib96f3b728118474b827669b915ba267b" continuedAt="i061d64dccddb40ec8a4c3e788bae111e"><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 6, 2021, the Court of Justice of the European Union concluded that the European Commission correctly classified the Spanish tax depreciation scheme of the Fondo de Comercio as State aid incompatible with the internal market for the First and Second Decisions. </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the recognition of legitimate expectations for the First and Second decisions, the Court of Justice of the European Union confirms its applicability.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The proceedings initiated on the Third Decision, suspended until the resolution of the 1st and 2nd Decisions, were reactivated in October 2021, and are still pending first instance judgment.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, the "Tax and Customs Control Unit of the Spanish Tax Authority" (Dependencia de Control Tributario y Aduanero de la Agencia Tributaria), in compliance with the obligation set out in the EC Decision (EU) 2015/314, recovered in March 2019 and February 2021, 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 2016 to 2018 respectively, and has notified in December 2022 the recovery of the relevant amounts for the years 2019 to 2020.The recovery of such amounts is provisional, pending the final rulings on the appeals brought against the three decisions. The amount paid by Telef&#243;nica after offsetting outstanding tax credits (tax losses carryforward and deductions) amounted to <ix:nonFraction unitRef="eur" contextRef="i895ab03e76b14415af416a368a27c233_D20190301-20190331" decimals="-5" name="tef:ProceedsfromFavorableTaxAppeal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIxODk4_b1d657ea-0b75-4574-9c03-a632c52b2603">12</ix:nonFraction> million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the fact that Telef&#243;nica 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 released in 2021 the provision for the recovered part, <ix:nonFraction unitRef="eur" contextRef="i64082edf5ace40e38ea5df83d16670ad_I20221231" decimals="-6" name="ifrs-full:GoodwillExpectedDeductibleForTaxPurposes" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIyMjk2_a98991df-d18f-42e7-afbf-b804ae1554cf">143</ix:nonFraction> million euros, and has decided to continue provisioning the amount of the goodwill amortized for tax purposes, and not recovered by the Administration which amounted to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:GoodwillExpectedDeductibleForTaxPurposes" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIyNDY5_930886ae-6d80-4d50-8243-ed2403a27b59">406</ix:nonFraction> million euros as of December 31, 2022 (<ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:GoodwillExpectedDeductibleForTaxPurposes" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIyNTA5_a8245ba8-0e84-4cfc-9149-e80ea49fc4f4">343</ix:nonFraction> million euros as of December 31, 2021).  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Inspections of the tax group in Spain</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In July 2019, new inspection procedure were initiated for several of the companies belonging to Tax Group 24/90, of which Telef&#243;nica, S.A. is the dominant company. The concepts and periods that have been 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. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">A Settlement Agreement was signed in October 2021, in which Telef&#243;nica manifested its agreement with certain of the tax assessments resulting from the inspection (specifically, with respect to the tax treatment of the exchange differences generated by assets denominated in Venezuelan bolivars), and its disagreement with others (mainly the consideration of exempt income of the &#8220;Juros sobre capital propio&#8221; since 2015), producing an impact on results (tax expense) of <ix:nonFraction unitRef="eur" contextRef="i2dad3ecce17e4912924b4540b12e09a1_D20211001-20211031" decimals="-6" name="tef:TaxInspectionAmountOfTaxExpenseToBePaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIzNDE0_8a961736-2f5e-4add-9942-0168817ba44c">387</ix:nonFraction> million euros, with a deferred tax asset reduction as detailed in "Main changes registered in 2021" in Note 25 to the Consolidated Financial Statements. However, the tax assessments did not result in a significant cash outflow as the Telef&#243;nica Group had tax credits, which substantially offset their impact. </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The closing of the inspection procedure took place in January 2022, with the Settlement Agreement being notified, and which the Company challenged in an economic-administrative procedure at the Central Economic-Administrative Court due to the adjustments with which it did not agree, mainly related to the "juros sobre el capital propio". On 9 December 2022, the Company received a rejection resolution from the Central Economic-Administrative Court, which will be challenged on the National High Court.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to the 2008-2011 inspection procedure, in July 2022 Telef&#243;nica was notified of the Supreme Court's decision rejecting the appeal for cassation filed by the State Attorney's Office against the judgment of the Audiencia Nacional (National High Court) of October 29, 2021. This confirmed the criteria used by Telef&#243;nica, S.A. for the use of tax losses carryforward and deductions in relation to the liquidation agreements derived from the Corporate Income Tax inspection of those years.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 24, 2022, an Agreement for the Execution of the Judgment of the Audiencia Nacional (National High Court) was issued, which orders the refund to Telef&#243;nica of an amount of <ix:nonFraction unitRef="eur" contextRef="i53675fc904924efc97a8ad72f598bf15_I20221024" decimals="-6" name="tef:TaxRefundReceivableFromTaxPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2Mjc0NTg_532df3c7-228f-4cab-b7d9-7037995adfff">790</ix:nonFraction> million euros for taxes paid in those years, as well as an amount of <ix:nonFraction unitRef="eur" contextRef="i53675fc904924efc97a8ad72f598bf15_I20221024" decimals="-6" name="tef:TaxRefundInterestReceivableFromTaxPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2Mjc0NTM_c913dbc8-3598-4668-88af-4cc603dd2a8f">526</ix:nonFraction> million euros as delayed interest. Said amounts were collecte</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d on October 28, 2022.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a consequence of the final outcome of the litigation above mentioned, no additional liabilities were recorded as of December 31, 2022</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-125</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i061d64dccddb40ec8a4c3e788bae111e" continuedAt="i9a761510832348818f945c142eec056c"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax litigation in Telef&#243;nica Brazil </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">State taxes </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To date the most significant issues have focused on the requirement to collect ICMS on penalties charged to customers for non-compliance, 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 b&#225;sica). In the case of the latter (assinatura b&#225;sica), the Supreme Court has established that the tax is only payable in respect of assessments for periods after October 2016. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="brl" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:LossesOnLitigationSettlements" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI2ODY1_d8b8a40d-74af-48e3-8b12-7609dba63db8">21,712</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million Brazilian reais as of December 31, 2022 (approximately </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:LossesOnLitigationSettlements" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI2OTMx_088a633d-9549-49fb-8374-d3d8a4080fb5">3,898</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at the exchange rate on that date, see Note 24 to the Consolidated Financial Statements), <ix:nonFraction unitRef="brl" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:LossesOnLitigationSettlements" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI3MDM4_70e84f37-a42c-45c6-8c22-44948fd610f2">19,164</ix:nonFraction> million Brazilian reais as of December 31, 2021 (approximately <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:LossesOnLitigationSettlements" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI3MTA0_267ae5a4-13b6-4de6-bbed-c3873e2316d4">3,032</ix:nonFraction> million euros at the exchange rate on that date). Telef&#243;nica Brazil has obtained independent expert reports supporting its position, i.e. that the aforesaid services are not subject to ICMS. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Federal taxes</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In addition, there are possible contingencies in relation to the income tax federal taxes for the total amount of <ix:nonFraction unitRef="brl" contextRef="if39cc05316444e4885d474babbc0e58a_I20221231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI3NDI3_d663dde0-0be0-428b-aba7-b94c906b7c1f">29,778</ix:nonFraction> million Brazilian reais as of December 31, 2022 (approximately <ix:nonFraction unitRef="eur" contextRef="if39cc05316444e4885d474babbc0e58a_I20221231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI3NDkz_7964d5ef-0f3e-4f6c-920a-a5f440bb4bfb">5,346</ix:nonFraction> million euros at the exchange rate on that date), <ix:nonFraction unitRef="brl" contextRef="i2e31e0be3c5c49a8b1026b1d2ff5fe32_I20211231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI3NTQ2_bee6c132-5c8b-40c3-a508-ec86cecf92cd">18,078</ix:nonFraction> million Brazilian reais as of  December 31, 2021 (approximately <ix:nonFraction unitRef="eur" contextRef="i2e31e0be3c5c49a8b1026b1d2ff5fe32_I20211231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI3NjEz_2281e4d3-4da8-4c35-9bad-99875587778c">2,860</ix:nonFraction> million euros at the exchange rate on that date), mainly related to the tax amortization in Brazil in the years 2011 to 2020 of the goodwill originated in the acquisitions of Vivo and GVT and their subsequent merger with Telef&#243;nica 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 Telef&#243;nica Brazil has received independent expert reports that support this view. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">There are other probable contingencies in relation to the income tax federal taxes for the total amount of <ix:nonFraction unitRef="brl" contextRef="i7fd6e2c01c514f02bd1a097242110014_I20221231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI4MjMw_4033bf52-38e7-4039-b59c-4cb809d7d65d">104</ix:nonFraction> million Brazilian reais as of December 31, 2022 (approximately <ix:nonFraction unitRef="eur" contextRef="i7fd6e2c01c514f02bd1a097242110014_I20221231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI4Mjk2_39d02f16-9bff-4f3a-b8f1-4e41a890d7f9">19</ix:nonFraction> million euros at the exchange rate on that date), <ix:nonFraction unitRef="brl" contextRef="i4eb83a0bb7294b95a507407b0643b609_I20211231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI4MzQ5_1404637f-837d-4b2d-8b3b-99a0bd13eef9">98</ix:nonFraction> million Brazilian reais as of  December 31, 2021 (approximately <ix:nonFraction unitRef="eur" contextRef="i4eb83a0bb7294b95a507407b0643b609_I20211231" decimals="-6" name="tef:OtherPossibleContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI4NDE2_21615c77-f9b1-484e-a761-0c664b5dd956">16</ix:nonFraction> million euros at the exchange rate on that date). The Company has recognized a provision for this amount.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax litigation in Telef&#243;nica del Per&#250;</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In relation to tax claims in Peru, it should be noted that Telef&#243;nica del Per&#250; is party to numerous legal proceedings (contentious administrative proceedings (ACAs) and appeals (amparos)) for tax matters relating to corporate income tax and VAT, mainly for the years </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">1998 to 2005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, the most relevant being those corresponding to the years 1998 to 2001 (relating to corporate income tax, payments in advance, credit balances, associated VAT, interest and applicable penalties).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The evolution of the appeals of the different cases from the period 1998 to 2001 has been uneven and complex over the last few years, but we can highlight the second instance Judgment of 2015, which was partially upheld; the Supreme Court Judgments of 2019; the January 2020 Supreme Court Ruling, annulling the previous rulings of 2000 and 2001 in relation to the provision for doubtful debts; the Constitutional Court Rulings in 2021 in relation to the settlement of late payment interest, partially upheld; and the Supreme Court Rulings of 2021 and 2022 on the credit balance from 1999 used in 2000.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On January 17 and 18, 2023, Telef&#243;nica del Per&#250; received notifications of the judgments handed down by the Supreme Court that resolved, in the last instance and unfavorably to the Company (references to the &#8220;Company&#8221; in this section refer to Telef&#243;nica del Per&#250;), the contentious administrative proceedings relating to income tax for the years 1998, 2000 and 2001.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The rulings issued by the Fifth Chamber of Constitutional and Social Transitory of the Supreme Court do not contain any payment mandate to the Company, as the rulings issued in the administrative contentious proceedings were resolved on concepts derived from a pronouncement of the Tax Court. At the end of these proceedings - and any others that may be applicable - the Tax Administration, through an administrative act, will determine the amount of the corresponding payment obligations.</span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-126</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i9a761510832348818f945c142eec056c" continuedAt="i4f64039ea34d4dc6bc6d6c9bedaeef1c"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Because there were certain adjustments on which the rulings had been definitive since 2015 (positively for the Company in relation to the deductibility of the rental of public spaces and negatively in the case of the deductibility of certain financial charges), the Company previously recorded a provision with an impact on income tax, the amount of which has been updated periodically and constantly depending on the evolution of the various proceedings and the applicable interest rates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In addition to the above, in June 2022 a new ruling was received from the Tax Court in relation to the corporate income tax of Telef&#243;nica M&#243;viles del Per&#250; for 2000. This ruling was favorable to the Company with respect to the recognition of the tax value of certain network assets and unfavorable with respect to the deductibility of the exchange rate tax.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In relation to all these proceedings, the Group considers that the initial amount claimed by the Peruvian government has been exponentially increased by the accrual of interest generated by the delay, not attributable to the Company, of almost <ix:nonFraction unitRef="y" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="tef:NumberOfYearsInProcessingLawsuitsTaxLitigationInPeru" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3NTI1MjQ_e9a44aa3-d3b0-47fc-880d-ee3507f721b4">20</ix:nonFraction> years in processing the lawsuits, meaning that almost <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:IncreaseLegalClaimInPeruTaxLitigationPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3NTI1Mjg_8d2f54f5-94ae-4486-9e79-e27a7149fd35">80</ix:nonFraction>% of the total amount claimed is due to interest and fines. And all this, despite the fact that in 2021 the Constitutional Court itself ruled in favor of Telef&#243;nica del Per&#250;, recognizing that it had been charged interest for delays not attributable to the company.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For this and other reasons, the Group has been in international arbitration before ICSID since March 2021 for various conducts of the Peruvian State in violation of the Agreement for the Promotion and Reciprocal Protection of Investments between Spain and Peru (see Note 29.a).</span></div><div style="text-align:justify"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has recorded the necessary provisions for the contingencies considered probable, leaving as possible contingencies an amount of <ix:nonFraction unitRef="pen" contextRef="icec1b97fc6b94b0197aa5567b3951ecb_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionalProvisionsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzgyNDYzMzczODAzMTQ_6935ea8d-2582-4e36-b6fc-06e21c34ed6e">560</ix:nonFraction> million Peruvian soles at December 31, 2022 (approximately <ix:nonFraction unitRef="eur" contextRef="icec1b97fc6b94b0197aa5567b3951ecb_D20220101-20221231" decimals="-6" name="ifrs-full:AdditionalProvisionsOtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzgyNDYzMzczODAzMTk_756eee0e-8a3f-46b1-8179-3071ac94a497">138</ix:nonFraction> million euros). </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As of December 31, 2022, the total amount of tax contingencies related to Telef&#243;nica del Per&#250; that the Group has recognized in its consolidated financial statements, including as the most relevant amount that related to the aforementioned judgements and rulings received since 2015, plus accrued interest and other above-mentioned impacts, amounts to <ix:nonFraction unitRef="pen" contextRef="i2ec8f75e03a24b7c908f3fb4efa12712_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2ODkyMjI_d6329e4d-2824-4dd1-9c07-cbca95560b16">3,849</ix:nonFraction> million Peruvian soles which is equivalent to <ix:nonFraction unitRef="eur" contextRef="i2ec8f75e03a24b7c908f3fb4efa12712_I20221231" decimals="-6" name="ifrs-full:OtherProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2ODkyMjk_7880d37d-e667-4ec7-a533-25e81d69c200">945</ix:nonFraction> million euros at the exchange rate of December 31, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Years open for inspection in the Group companies</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s tax legislation, taking into account their respective statute of limitations periods. In Spain the taxes from 2018 onwards are open to inspection. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the other countries in which the Telef&#243;nica Group has a significant presence, the years open for inspection by the relevant authorities are generally as follows:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last eleven years in Germany. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last eight years in the United Kingdom. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last seven years in Argentina.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last six years in Venezuela </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last five years in Brazil, Mexico, Colombia, Uruguay and the Netherlands.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last four years in Peru. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last three years in Chile, Ecuador and the United States. </span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i4f64039ea34d4dc6bc6d6c9bedaeef1c">The tax inspection of the open years is not expected to give rise to additional material liabilities for the Group.</ix:continuation> </span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-127</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_352"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 26. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfRevenueExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MDM_5be11dc7-9a92-42aa-98ee-8da9b866cbfc" continuedAt="ifb89fcea51c649419e7f9dd3a9d4b246" escape="true"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfExpensesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MTY_0e1b3fec-f5c7-47ad-9144-210e920cb839" continuedAt="if92f83118bd742a8a218da1a7d4bae15" escape="true">Revenue and expenses</ix:nonNumeric></ix:nonNumeric></span></div><ix:continuation id="ifb89fcea51c649419e7f9dd3a9d4b246" continuedAt="i0f2da9b460fa418e944464998027addd"><ix:continuation id="if92f83118bd742a8a218da1a7d4bae15" continuedAt="i071a2786591f412fb6f0b17da4c585d1"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfTheCompositionOfRevenuesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MDA_bf24d8f8-bbe0-4de4-a050-044a70234df9" escape="true"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of Revenues for the years 2022, 2021 and 2020 is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rendering of services</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzEtMS0xLTEtNTEwNDQy_4af53f6f-3be9-4146-936a-80cd03e85ec0">34,854</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzEtMi0xLTEtNTEwNDQy_58fc8d8a-eec8-42fa-a9dd-f8f3a5c35388">34,117</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueFromRenderingOfServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzEtMy0xLTEtNTEwNDQy_ad1b71a0-d861-4b0b-9ede-afaff6e5b3e4">37,394</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sales</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherRevenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzItMS0xLTEtNTEwNDQy_ecf82d34-8536-4b8d-ae0a-90a89c104dcb">5,139</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherRevenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzItMi0xLTEtNTEwNDQy_ba3a96eb-2819-413d-bc1e-bcfb23692fc4">5,160</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherRevenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzItMy0xLTEtNTEwNDQy_ba5887c9-e269-4cbf-b35f-f2d6377f6357">5,682</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzMtMS0xLTEtNTEwNDQy_9f82a4ed-6ac0-4fc4-b1c1-4bd8850ec479">39,993</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzMtMi0xLTEtNTEwNDQy_862c2432-e456-4cbb-b48b-d914680be8e0">39,277</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:Revenue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzMtMy0xLTEtNTEwNDQy_da733575-df15-4fd4-8d12-cf97056b94af">43,076</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales mainly include the sale of mobile terminals.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other income</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfTheCompositionOfOtherIncomeTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0Mjg_2d19d1d0-b238-49ce-95e7-080bed0a4b11" escape="true"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Other income&#8221; is as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Own work capitalized</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:IncomeFromCapitalizationOfOwnWork" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzEtMS0xLTEtNTEwNDQy_7733a9f9-7765-4a6d-8995-5274e2541ab5">783</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:IncomeFromCapitalizationOfOwnWork" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzEtMi0xLTEtNTEwNDQy_b0c3ec5c-bb42-49dd-9e31-bc292a15484f">771</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:GainsOnDisposalsOfInvestments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzItMi0xLTEtNTEwNDQy_eba63b29-0adc-4a5f-843f-a469dff5fc32">11,008</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnDisposalsOfOtherNoncurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzQtMS0xLTEtNTEwNDQy_26f3151a-6ddd-4c63-952a-d1524a88137f">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesOnDisposalsOfOtherNoncurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzQtMi0xLTEtNTEwNDQy_73469581-aefc-4570-8f4d-6db95dd5101c">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Government grants</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:RevenueFromGovernmentGrants" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzUtMS0xLTEtNTEwNDQy_3d06fb04-d87b-4785-988e-b1bb801a8f1e">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:RevenueFromGovernmentGrants" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzUtMi0xLTEtNTEwNDQy_9a859c46-cb08-4556-9cf3-41a396cbc14a">13</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RevenueFromGovernmentGrants" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzUtMy0xLTEtNTEwNDQy_f711444c-4254-4fc6-b179-bbc9c9f96cb1">17</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzYtMS0xLTEtNTEwNDQy_7c3d6b7e-7a14-48b5-957d-c15335ce8914">478</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzYtMi0xLTEtNTEwNDQy_495de194-cd35-4524-a726-5fccab4a9472">396</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherOperatingIncomeExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzYtMy0xLTEtNTEwNDQy_5482b925-d5b6-4f44-96d0-923c84dab77a">354</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzctMS0xLTEtNTEwNDQy_e702be31-7d19-4451-a7cf-d6f6085c644c">2,065</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzctMi0xLTEtNTEwNDQy_d3cac71b-3cfc-4568-82fa-d13051c2bb22">12,673</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherIncome" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzctMy0xLTEtNTEwNDQy_954dbf3b-ae77-4dd2-9aee-eba081cd3253">1,587</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of businesses" in 2022 mainly includes the gain from the sale of fiber optics assets of Colombia Telecomunicaciones, amounting to <ix:nonFraction unitRef="eur" contextRef="ibc7e94c7f22c4d03b1d6c589c1205291_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesOnDisposalsOfPropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzQ5NDc4MDIzMzIwMzI_838ece27-ec77-4a63-82a3-41624ec7ff2a">162</ix:nonFraction> million euros and the gain from the establishment of the joint company for the deployment of fiber in the United Kingdom amounting to <ix:nonFraction unitRef="eur" contextRef="i448c37e158b54984810e953b3ec7fb21_D20220101-20221231" decimals="-6" name="tef:CapitalGainLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzEwOTk1MTE2MzcwMzg_f408b05e-9199-4679-b803-812b2fcc99f7">20</ix:nonFraction> million euros (see Note 10).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of businesses" in 2021 mainly included the gain from the sale of the towers division of Telxius (<ix:nonFraction unitRef="eur" contextRef="i7cb93946381043fb864173721cbb4f7d_D20210101-20211231" decimals="-6" name="tef:CapitalGainLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzM0NQ_f33a51f6-490b-4054-9395-93b3503962fd">6,099</ix:nonFraction> million euros, see Note 2), the gain generated in the constitution of the joint venture VMO2 (<ix:nonFraction unitRef="eur" contextRef="i5f31bd402cda497d8d44bba322c4e772_D20210101-20211231" decimals="-6" name="tef:CapitalGainLoss" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzQ0OA_540e0318-cb2e-48a8-8dda-6b28265e8f86">4,460</ix:nonFraction> million euros, see Note 2), the gain from the sale of <ix:nonFraction unitRef="number" contextRef="i3509ca8b7a954b299167f4a27fdc1177_I20211231" decimals="2" name="tef:PercentageOfVotingEquityTransferedAsConsideration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUwNQ_fd3e3b9b-4a9c-484d-b8de-f611dbfe7cd2">60</ix:nonFraction>% of the shares of InfraCo, SpA (<ix:nonFraction unitRef="eur" contextRef="i770c5f2e21584854af91fd9308ba24d1_D20210101-20211231" decimals="-6" name="tef:CapitalGainLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzOQ_40004eb2-be08-4c6b-ae15-3cbcd25cf46b">274</ix:nonFraction> million euros, see Note 2) and the gain from the sale of Telef&#243;nica de Costa Rica (<ix:nonFraction unitRef="eur" contextRef="i0f99f789dbb144b7ac9d2342a974be4f_D20210101-20211231" decimals="-6" name="tef:CapitalGainLoss" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzYyNQ_69ede3a6-c2d6-485f-9b3c-c7a220088a1d">136</ix:nonFraction> million euros, see Note 2).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gains on disposal of companies" in 2020 included the impact of the initial registration of Telef&#243;nica's joint venture with Allianz for the deployment of fiber (FTTH) in Germany (see Note 29.c).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of property, plant and equipment" includes the gains on sale and leaseback transactions, which amounted to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMyOTg1MzQ4OTkwNTk_032d4493-6ad2-43e4-a295-964d50dc6e35">381</ix:nonFraction>  million euros, <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzEyMTM_20da4b60-a9ea-4e57-a52f-a125f5deb119">263</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzEyMzQ_686145c0-c4aa-4bd4-a69c-48fd823c6dc4">79</ix:nonFraction> million euros in 2022, 2021 and 2020, respectively (Note 20).</span></div></ix:continuation></ix:continuation><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-128</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i0f2da9b460fa418e944464998027addd" continuedAt="ib6cce9ad4501422b9709bed827326a2f"><ix:continuation id="i071a2786591f412fb6f0b17da4c585d1" continuedAt="iec0d60bf8cb14bd9b872ae11d734d520"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other expenses</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfTheCompositionOfOtherExpenseTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzOTI_f4f579a3-b318-45a5-8879-934a6d788a9c" continuedAt="id6d2325f9f414399b90697dcd635ef09" escape="true">The breakdown of &#8220;Other expenses&#8221; is as follows:</ix:nonNumeric></span></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="id6d2325f9f414399b90697dcd635ef09" continuedAt="iec6d9f0e6a8b4b288ae50c0df2969c72"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Leases included in "Other expenses" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:RentalExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzEtMS0xLTEtNTEwNDQy_2e74cf81-fbdb-4d1b-9d50-585447a385d9">86</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:RentalExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzEtMi0xLTEtNTEwNDQy_e9d082e1-8a49-489f-9bf9-dfb6476bd65e">80</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RentalExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzEtMy0xLTEtNTEwNDQy_94bdfc0b-41c2-415d-9031-18e65ee8bef5">89</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ServicesExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzItMS0xLTEtNTEwNDQy_aff1cd26-a239-481b-8599-ce2509f1e3b3">8,731</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ServicesExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzItMi0xLTEtNTEwNDQy_180c77a5-dfe3-4c9c-9253-aab0cbe3fd66">8,604</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ServicesExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzItMy0xLTEtNTEwNDQy_9eff8664-cf33-49f6-b42f-72e165ef9b6f">9,617</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes other than income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzUtMi0xLTEtNTEwNDQy_3ebb9eab-4b39-4b35-884f-85f2458b01e7">51</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ImpairmentLossRecognisedInProfitOrLossGoodwill" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzYtMy0xLTEtNTEwNDQy_1e0a6ed0-6d2a-4ca5-b975-793e37170a58">519</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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#bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:MiscellaneousOtherOperatingExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzctMi0xLTEtNTEwNDQy_77c69d0f-2d08-4a41-bdbd-376d67430b92">462</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:MiscellaneousOtherOperatingExpense" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzctMy0xLTEtNTEwNDQy_90fc2300-131a-4b87-ac8f-974c9c71ff4e">468</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherExpenseByNature" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzgtMS0xLTEtNTEwNDQy_06d613bb-a7f1-4ca4-835d-c79cc0553405">10,741</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherExpenseByNature" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzgtMi0xLTEtNTEwNDQy_fff704da-ee85-4ecc-b017-bfc719da9db7">10,976</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherExpenseByNature" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzgtMy0xLTEtNTEwNDQy_a0f7e587-8f4d-4b83-9346-fd74f5872ebc">12,871</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></ix:continuation><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"><ix:continuation id="iec6d9f0e6a8b4b288ae50c0df2969c72"> Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 9).</ix:continuation> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Losses on disposal of fixed assets and changes in provisions for fixed assets" in 2022 includes impairment losses of intangible assets and property, plant and equipment of Telef&#243;nica Argentina, for a total amount of <ix:nonFraction unitRef="eur" contextRef="ic6e177a9e07341acbc66e1ebc3b74f7b_D20220101-20221231" decimals="-6" name="tef:LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzEwOTk1MTE2MzY4MTM_b3d533f5-6074-4adc-bb36-397600a4154d">77</ix:nonFraction> million euros (see Notes 6 and 8). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"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 Telef&#243;nica Argentina, for a total amount of <ix:nonFraction unitRef="eur" contextRef="ia3ec45f40a594129b9038fe06327ee3e_D20200101-20201231" decimals="-6" name="tef:LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE3MjM_63f8f38d-bde0-4170-bbc4-d3be56688643">375</ix:nonFraction> million euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Taxes other than income tax&#8221; includes the outstanding credits related to the court decisions in favor of Telef&#243;nica Brasil which recognized the right to deduct the ICMS from the calculation base of the PIS and COFINS. The impact was <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzIzNDM_3cc7d7d3-c598-469f-bd87-806279532488">73</ix:nonFraction> million euros reducing "Taxes other than income tax" in 2022 (<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzc2OTY1ODE0MDMxNDE_c131b482-3824-4eb3-be70-764481f04beb">261</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzc2OTY1ODE0MDMxNDk_fd91cf2b-4c5b-484f-979e-fafdb97d6658">75</ix:nonFraction> million euros in 2021 and 2020, respectively, see note 25).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Purchases and other contractual commitments</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureoffinanceleaseandoperatingleasebylesseeTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MTA_f3129463-1036-4586-b9a9-527fa5889b90" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:46.929%"><tr><td style="width:1.0%"></td><td style="width:37.840%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:59.960%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Purchases and other contractual commitments</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44343f125a1e48be9f9c0e7838a0d1b7_I20221231" decimals="-6" name="tef:Undiscountedoperatingleasepaymentstobepaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzEtMS0xLTEtNTEwNDQy_0275daef-6a12-4c54-a279-d15e2325bed3">3,991</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1 to 3 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifbb5c2f917aa44c888b3796fe43ac381_I20221231" decimals="-6" name="tef:Undiscountedoperatingleasepaymentstobepaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzItMS0xLTEtNTEwNDQy_eee260c4-5c5c-4d6d-baf1-956820d5bd24">4,269</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 to 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie1ffa432e63f4c47a69b96adc7846c02_I20221231" decimals="-6" name="tef:Undiscountedoperatingleasepaymentstobepaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzMtMS0xLTEtNTEwNDQy_059f7120-993d-4942-bae2-84039ffee54f">2,281</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib70fde8ff1bf43639c7e96d04ca1df7b_I20221231" decimals="-6" name="tef:Undiscountedoperatingleasepaymentstobepaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzQtMS0xLTEtNTEwNDQy_fb8607bb-5805-4dbe-a2ce-866447336ffe">1,744</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:Undiscountedoperatingleasepaymentstobepaid" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzUtMS0xLTEtNTEwNDQy_0c0ccce0-bbe3-4886-9311-cb03be2f1d14">12,285</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The purchases and other contractual commitments in the table above include <ix:nonFraction unitRef="eur" contextRef="i355b7fd6c98d4847866c2a0c751ff658_D20220101-20221231" decimals="-6" name="tef:LongTermPurchaseCommitmentAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE1OTQyOTE4NjEyMzg5_c43a32d8-a4b7-4525-9bf8-58d5515315f7">850</ix:nonFraction> million euros corresponding to power purchase agreements (PPAs), mainly from Telef&#243;nica Spain for the period from 2023 to 2031 and Telef&#243;nica Germany from 2025 to 2035 (see Note 29.d). The Group uses these contracts to purchase energy from sustainable sources, such as wind and solar, at generally fixed prices (see Note 3.l).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commitments for short-term leases and low value leases amounted to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:PurchaseAndOtherContractualObligations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzI3NzE_761b2690-d0b8-44cc-b0f3-1b79475d9c4f">33</ix:nonFraction> million euros as of December 31, 2022. In addition, lease collection commitments amounted to <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="tef:ExpectedFutureMinimumLeasePaymentsReceivableUnderNonCancellableSubleasesClassifiedAsOperatingLeaseAtPresentValue" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzI4NTI_4a232d94-7d26-4d60-8341-c6e3b284104a">8</ix:nonFraction> million euros as of December 31, 2022. </span></div></ix:continuation></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-129</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib6cce9ad4501422b9709bed827326a2f" continuedAt="i7d953685db21475ab02d1127dc0b6b80"><ix:continuation id="iec0d60bf8cb14bd9b872ae11d734d520" continuedAt="if37258260d444d58baf2546f5c9c8af5"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Headcount</span></div><div style="margin-bottom:9pt;text-align:justify"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfNumberOfEmployeesBySegmentTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzNTQ_8da484de-5b66-42ac-941e-2feeb12dff0d" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below presents the breakdown of the Telef&#243;nica Group&#8217;s average number of employees by fully consolidated segment (see Note 4) in 2022, 2021 and 2020, together with total headcount at December 31 each year. </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:33.599%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i9638381e8e244c3ba8e2cf5b51811489_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzItMS0xLTEtNTEwNDQy_3b2367c2-c0c5-47d5-aaec-e90b4e5a1aa8">21,099</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ib747dc46fff2426786952ecf343a282a_I20221231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzItMi0xLTEtNTEwNDQy_66e32057-2910-4cf7-b85a-9f251ea8732a">20,947</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i2315dc144aae4998922b4eace6e2cc5c_D20210101-20211231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzItMy0xLTEtNTEwNDQy_7bcd3df1-fbec-48de-b024-a439e90e3a40">22,872</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzItNC0xLTEtNTEwNDQy_a1007ee7-2633-42b0-825f-325cee4704f5">22,976</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ief338eebd0dd4c4293242b3355ff69cd_D20200101-20201231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzItNS0xLTEtNTEwNDQy_4cb17f98-d1de-4791-b46f-56b01f4ce7b8">22,992</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ia115be5c822745eba3f98cfb6a5715ce_I20201231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzItNi0xLTEtNTEwNDQy_86b4cdb5-b242-43c1-b49b-9aa2e980751d">22,978</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzMtNC0xLTEtNTEwNDQy_b1d9b4b1-41b5-479a-845b-7c0fafa798e4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ib88107d4261a4e8c9ef1c3d8159d733c_D20200101-20201231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzMtNS0xLTEtNTEwNDQy_0b4033b2-2796-4dba-8902-670e61fa9462">6,501</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="if27949bb68c04d08b33fcfb60a725c5d_I20201231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzMtNi0xLTEtNTEwNDQy_dcb01ea6-1fe5-48c2-b6ad-2b0b27ae4045">6,318</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i9d1d8ad979214266b41f2e36af6977ec_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzQtMS0xLTEtNTEwNDQy_d7774337-212b-4c76-8dc6-e92c97288448">7,029</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="if7b9e64b6ca0459fb34533a27aa12374_I20221231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzQtMi0xLTEtNTEwNDQy_aeb4bbdb-cbbc-47b6-90e3-c85d3c51e407">7,099</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i31748c7f644e497e8639660a2c1c6e73_D20210101-20211231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzQtNC0xLTEtNTEwNDQy_08682e03-3c09-4c25-a9bc-1bed7d044b96">7,056</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i0e7c79ac68cd4aa4b2a0bc5ade7479d0_D20200101-20201231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzQtNS0xLTEtNTEwNDQy_8e43c80a-03b9-410a-973a-b93e474f77aa">7,770</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i757963e18374488ab97feabd76da2e5b_I20201231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzQtNi0xLTEtNTEwNDQy_a69e3504-8e18-4335-a938-ebe3cbbf5c6e">7,701</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzUtMi0xLTEtNTEwNDQy_01ca7d26-7ef9-4479-b0a2-2b965b4a397d">34,846</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i191851b252564dc1bd73c32d16143fd8_D20210101-20211231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzUtMy0xLTEtNTEwNDQy_bec10e58-a08d-45d5-986c-b63981e001df">33,987</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i2bc6e450f7534a72afb96e47293c81bd_I20211231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzUtNC0xLTEtNTEwNDQy_be081ff8-d37f-4c1d-a24b-7162c7cfa529">34,343</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i119f9a3a07d6469aa2e0e8e4d4c8013a_D20200101-20201231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzUtNS0xLTEtNTEwNDQy_636ba7ff-5501-48e6-aa41-67e1c81dc021">33,938</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i705b3acdeb1747a0b832c654a75e5566_I20201231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzUtNi0xLTEtNTEwNDQy_df0a25ac-fa8d-494d-a81a-2bbfe5b74c85">33,828</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ia1e36e332640451096dd36125b0712a8_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzYtMS0xLTEtNTEwNDQy_4fed3dcd-4f7d-406e-a728-6e9dbce64837">30,232</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="idb380de9f354465a9a29ea56ce6f2a0b_I20221231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzYtMi0xLTEtNTEwNDQy_7efd5c60-e5ae-438e-9364-f0140a50a0b6">29,994</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i169f29f18f064dbe8825bf8d15965856_D20210101-20211231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzYtMy0xLTEtNTEwNDQy_91386890-1a1e-4946-aa45-2c3502ef71fb">31,806</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzYtNC0xLTEtNTEwNDQy_237585ed-4344-4379-aa97-95a562b34caa">30,717</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i154ccf2822bc42f4b9ec5557c20801b3_D20200101-20201231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzYtNS0xLTEtNTEwNDQy_d6e7b77a-3f22-41e8-96fa-3a955fa28846">33,872</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i00b7c47185bd491fb58180cd3c371e3d_I20201231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzYtNi0xLTEtNTEwNDQy_b49a64f6-6bbd-4438-812f-5ac28ba7063d">33,506</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ic612c57d47b849969d67c814a6a96dae_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzctMS0xLTEtNTEwNDQy_cf6946a3-21ba-4448-90ef-5ac2e8271af0">9,928</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i51ae21f2668e44cb94ae91d2c8c0ea11_I20221231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzctMi0xLTEtNTEwNDQy_544c7451-ec89-442e-8634-d3c05c5eebcd">10,765</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i42cb7582356148f8b3617d33352736bd_D20210101-20211231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzctMy0xLTEtNTEwNDQy_76af8efa-756c-4777-8367-56811b2020b5">8,852</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ia88ca716bccc4f139befe0b4a2d9da00_I20211231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzctNC0xLTEtNTEwNDQy_9af7af03-a622-49c0-962f-88ca3ae454d3">9,058</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i30c6f9ad42904efc9691ad177397412d_D20200101-20201231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzctNS0xLTEtNTEwNDQy_a13b78b3-3592-4025-9e6f-04cc9dbae272">8,109</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i98527fc844874a0eb80c3c826ef34fb7_I20201231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzctNi0xLTEtNTEwNDQy_77968eb0-6c26-40eb-a776-517e1b65974f">8,466</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzgtMS0xLTEtNTEwNDQy_3db8401b-9102-4bf1-ad18-942a05305208">102,563</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzgtMi0xLTEtNTEwNDQy_2208d0e1-d163-486b-94db-4c646cdbab62">103,651</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzgtMy0xLTEtNTEwNDQy_fa6ad0fb-36c5-4ef9-b631-22be775e56ef">107,776</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzgtNC0xLTEtNTEwNDQy_79653f7f-bff4-487a-b32e-ab472f8b9c3d">104,150</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzgtNS0xLTEtNTEwNDQy_0903d857-d9a0-43c0-bda6-f011d0235f38">113,182</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="employee" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="INF" name="ifrs-full:NumberOfEmployees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplZWRjZGQ2OTMzZGE0NDgzYjA0MzAyZDVlODAyY2Q4Yy90YWJsZXJhbmdlOmVlZGNkZDY5MzNkYTQ0ODNiMDQzMDJkNWU4MDJjZDhjXzgtNi0xLTEtNTEwNDQy_82cdaa5c-b12c-4493-a952-d9024654b524">112,797</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, approximately <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:PercentageOfFemaleEmployees" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMxMjU_aa171666-7826-48a7-8eee-086ba3ecd7f1">39</ix:nonFraction>% of the final headcount are women (approximately <ix:nonFraction unitRef="number" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="2" name="tef:PercentageOfFemaleEmployees" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMxNzY_93c9eced-d43f-427b-af43-6d2ceb29302c">38</ix:nonFraction>% at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the number of employees with disabilities is <ix:nonFraction unitRef="employee" contextRef="i5bbf6e51e89145119b13d8b96601e77e_I20221231" decimals="INF" name="tef:NumberOfEmployeesWithDisabilities" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMyNDA_7bc77f64-fd95-49d6-8793-6fb7d5f5a61d">1,482</ix:nonFraction> (<ix:nonFraction unitRef="employee" contextRef="i8e40595f86b742cb9666d9d9511f7e4f_I20211231" decimals="INF" name="tef:NumberOfEmployeesWithDisabilities" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMyNDQ_d97aaabf-6b72-4b62-af3f-74cc8faa9612">1,128</ix:nonFraction> employees at December&#160;31, 2021), of which <ix:nonFraction unitRef="employee" contextRef="ib747dc46fff2426786952ecf343a282a_I20221231" decimals="INF" name="tef:NumberOfEmployeesWithDisabilities" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMyNzQ_11adab77-bd56-443c-add7-df9f6ddef68c">314</ix:nonFraction> employees are in Spain (<ix:nonFraction unitRef="employee" contextRef="i7b7d786de933442c9fef6606be496600_I20211231" decimals="INF" name="tef:NumberOfEmployeesWithDisabilities" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMzMDE_5dd9609e-5fc5-4a22-94ba-fe24100c005d">267</ix:nonFraction> employees in 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the average number of employees of Telef&#243;nica Tech UK &amp; Ireland, Ltd. (acquired on July 29, 2021), Incremental (see Note 5) and BE-terna (see Note 5) amounte</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d to <ix:nonFraction unitRef="employee" contextRef="i0ddc079a26364e83a47c38d1a6941742_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE4NjkxNjk3Njc4MjM0_a2aa2fc7-7b69-4ffc-a823-efdfe78729a3">609</ix:nonFraction>, <ix:nonFraction unitRef="employee" contextRef="ie33967f2ed5e404699fb296a6afc1adf_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE4NjkxNjk3Njc4MjM5_8e481aa1-a9d8-43c1-82b9-c24266248d81">330</ix:nonFraction> and <ix:nonFraction unitRef="employee" contextRef="i42229b6c19624b0abebb1eb82a0b7dfd_D20220101-20221231" decimals="0" name="ifrs-full:AverageNumberOfEmployees" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE4NjkxNjk3Njc4MjQ0_6c2bd3ee-38b6-422a-832a-08836a8b0244">954</ix:nonFraction> people,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> respectively.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span></div><div style="margin-top:9pt"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfDepreciationAndAmortizationExpenseTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzNjg_bc574db7-7104-4428-a0ef-b568047a0c07" escape="true"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Depreciation and amortization&#8221; on the consolidated income statement is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.543%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.544%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment (Note 8)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzEtMS0xLTEtNTEwNDQy_ad7a985c-47d4-44f3-a7ed-0794f3b2fc79">4,133</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DepreciationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzEtMi0xLTEtNTEwNDQy_a85fac42-7dcf-4df2-84b1-eeb65cfa8007">4,360</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzEtMy0xLTEtNTEwNDQy_43367d3f-f037-45e4-8cd5-35b4cd6b1aac">5,022</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets (Note 6)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzItMS0xLTEtNTEwNDQy_f04c06fe-141b-4792-814d-fc99a625cd66">2,599</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzItMi0xLTEtNTEwNDQy_da2b9524-31a3-4c03-a658-10979aab11b4">2,388</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzItMy0xLTEtNTEwNDQy_30229697-dd03-41e3-a080-5dad00fb1904">2,735</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use (Note 9)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzMtMS0xLTEtNTEwNDQy_82433ff7-d36a-4838-9e08-ced07dc0c9b6">2,064</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DepreciationRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzMtMi0xLTEtNTEwNDQy_9ff3a21e-77f7-47a8-8661-66b3361717a9">1,649</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationRightofuseAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzMtMy0xLTEtNTEwNDQy_9415e6b6-3f24-4e1d-84b0-17c357115a09">1,602</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzQtMS0xLTEtNTEwNDQy_dd479fa8-64ef-4430-b5ae-5b05eca05e62">8,796</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzQtMi0xLTEtNTEwNDQy_9f451c1c-8f41-4295-b967-83bbe809c59b">8,397</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DepreciationAndAmortisationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzQtMy0xLTEtNTEwNDQy_35232a62-ff92-45db-a28d-57184beaa193">9,359</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Earnings per share</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.c) by (b) the weighted average number of ordinary shares outstanding during the year. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:EarningsPerShareExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MjA_a676f68f-df93-4236-a56c-4262cc34f503" continuedAt="ie84578edcd0847d88d7acb3e652eb518" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Profit attributable to ordinary equity holders of the parent company</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzEtMS0xLTEtNTEwNDQy_7013fac8-f607-41d4-bb7a-f9f46ffde6b8">2,011</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzEtMi0xLTEtNTEwNDQy_e437f5ea-f8f0-4ed3-816c-dfb3d2ebac89">8,137</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzEtMy0xLTEtNTEwNDQy_0b530d33-4b0c-4099-b40e-a29e47a23d19">1,582</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustment for the coupon corresponding to perpetual subordinated obligations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:AdjustmentForTheNetCouponCorrespondingToUndatedDeeplySubordinatedSecurities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzItMS0xLTEtNTEwNDQy_5a95179f-2f04-4ad4-b943-6b481a20df58">279</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:AdjustmentForTheNetCouponCorrespondingToUndatedDeeplySubordinatedSecurities" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzItMy0xLTEtNTEwNDQy_583010c5-df1e-4292-ba49-6da28d317f1e">334</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax effect</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparententityincludingdilutiveeffectstaxeffect" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzMtMi0xLTEtNTEwNDQy_7b314889-387e-43ab-a5dd-d787b834297c">84</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparententityincludingdilutiveeffectstaxeffect" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzMtMy0xLTEtNTEwNDQy_8b97bf43-259f-4e02-ab27-274ac519a8e3">84</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzUtMS0xLTEtNTEwNDQy_a8257b3c-85eb-46c3-aa82-458b1bedc6b9">1,802</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzUtMi0xLTEtNTEwNDQy_785b74d5-7653-4d76-b364-54456eb16600">7,884</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxNDVkZWYyYTIyMjM0YzcxYTcwMjQwMzg1ZjlmZGZhMy90YWJsZXJhbmdlOjE0NWRlZjJhMjIyMzRjNzFhNzAyNDAzODVmOWZkZmEzXzUtMy0xLTEtNTEwNDQy_1c12f371-7808-4559-b8b0-a14216b09147">1,332</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-130</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i7d953685db21475ab02d1127dc0b6b80"><ix:continuation id="if37258260d444d58baf2546f5c9c8af5"><ix:continuation id="ie84578edcd0847d88d7acb3e652eb518" continuedAt="i3b61b8a8c1ef4af483a430f0e3eb66fd"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares (thousands)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares for basic earnings per share  (does not include treasury shares)</span></td><td colspan="2" style="border-top:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-3" name="ifrs-full:WeightedAverageShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzEtMi0xLTEtNTEwNDQy_176b0530-26b2-469b-bb51-ba6e7249f165">5,864,070</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-3" name="ifrs-full:WeightedAverageShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzEtMy0xLTEtNTEwNDQy_8e07ffdf-ee46-483e-a489-a3d55a061408">5,952,695</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. plans of rights over shares</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-2" name="ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzQtMS0xLTEtNTEwNDQy_9d71cfb3-215d-42c5-b488-5a9151f29ca9">23,096</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-2" name="ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzQtMi0xLTEtNTEwNDQy_416a7c61-9f7e-4da2-8c7d-40a473999019">10,098</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-2" name="ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzQtMy0xLTEtNTEwNDQy_70e2eb85-4f6f-499a-8175-7f6629abed2a">6,590</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-3" name="ifrs-full:AdjustedWeightedAverageShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzUtMS0xLTEtNTEwNDQy_86c0606a-d672-420b-86dd-564e0ea1f6d5">5,763,201</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-3" name="ifrs-full:AdjustedWeightedAverageShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzUtMi0xLTEtNTEwNDQy_3396e870-79b1-437b-a6c6-b3b8ca79c597">5,874,168</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-2" name="ifrs-full:AdjustedWeightedAverageShares" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo2Y2JjOGZlNDUyYjg0ZmUxOTM3ZWM2ZjNkZjI1YmIzOS90YWJsZXJhbmdlOjZjYmM4ZmU0NTJiODRmZTE5MzdlYzZmM2RmMjViYjM5XzUtMy0xLTEtNTEwNDQy_d77d464c-5602-4fea-980a-bdf3a4e86e87">5,959,285</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(*) Revised data</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of calculating the earnings per share (basic and diluted) attributable to equity holders of the parent, 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 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">scrip dividend</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (see Note 17.b).</span></div><ix:continuation id="i3b61b8a8c1ef4af483a430f0e3eb66fd"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:47.140%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.350%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings per share (euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Basic</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="ifrs-full:BasicEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTozZTljYzQ2MWUzMmM0M2M0YTQzOWMyMTQyNjRkNjRkOC90YWJsZXJhbmdlOjNlOWNjNDYxZTMyYzQzYzRhNDM5YzIxNDI2NGQ2NGQ4XzEtMS0xLTEtNTEwNDQy_2c33e63c-b063-492a-a559-83d16afbbe04">0.31</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="2" name="ifrs-full:BasicEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTozZTljYzQ2MWUzMmM0M2M0YTQzOWMyMTQyNjRkNjRkOC90YWJsZXJhbmdlOjNlOWNjNDYxZTMyYzQzYzRhNDM5YzIxNDI2NGQ2NGQ4XzEtMi0xLTEtNTEwNDQy_386f29cc-041c-4193-a300-75514d1ab9d1">1.34</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="2" name="ifrs-full:BasicEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTozZTljYzQ2MWUzMmM0M2M0YTQzOWMyMTQyNjRkNjRkOC90YWJsZXJhbmdlOjNlOWNjNDYxZTMyYzQzYzRhNDM5YzIxNDI2NGQ2NGQ4XzEtMy0xLTEtNTEwNDQy_287ccf1d-9ce5-4e1e-a5c5-20c808bd7f79">0.22</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTozZTljYzQ2MWUzMmM0M2M0YTQzOWMyMTQyNjRkNjRkOC90YWJsZXJhbmdlOjNlOWNjNDYxZTMyYzQzYzRhNDM5YzIxNDI2NGQ2NGQ4XzItMS0xLTEtNTEwNDQy_5f248277-7741-4c94-94a9-d03fa8e4b684">0.31</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="2" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTozZTljYzQ2MWUzMmM0M2M0YTQzOWMyMTQyNjRkNjRkOC90YWJsZXJhbmdlOjNlOWNjNDYxZTMyYzQzYzRhNDM5YzIxNDI2NGQ2NGQ4XzItMi0xLTEtNTEwNDQy_133c84f8-b5b6-4466-9dcd-47295907de96">1.34</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="2" name="ifrs-full:DilutedEarningsLossPerShare" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTozZTljYzQ2MWUzMmM0M2M0YTQzOWMyMTQyNjRkNjRkOC90YWJsZXJhbmdlOjNlOWNjNDYxZTMyYzQzYzRhNDM5YzIxNDI2NGQ2NGQ4XzItMy0xLTEtNTEwNDQy_2245af91-3513-4b46-a37d-a2a44f038ef7">0.22</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div id="i2ad619f032b2435680b3f6486d100018_355"></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 27. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzMyOTg1MzQ4OTU1Njk_7719e4a4-c6cc-4d8e-84db-bf30616b34b7" continuedAt="id4b1dd5d6f4d41beb34130f89b1bafd2" escape="true">Share-based payment plans</ix:nonNumeric></span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><ix:continuation id="id4b1dd5d6f4d41beb34130f89b1bafd2" continuedAt="ic59e378ea4f74e31af4d8e233e392f3d"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: Performance Share Plan 2018-2022 </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the General Shareholders&#8217; Meeting held on June 8, 2018, a long-term incentive plan was approved, consisting of the delivery of shares of Telef&#243;nica, S.A. aimed at senior executive officers of the Telef&#243;nica Group, including the Executive Directors of Telef&#243;nica, S.A. The plan consists of the delivery to the participants of a certain number of shares of Telef&#243;nica, S.A. based on compliance with the objectives established for each of the cycles into which the plan is divided. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The number of shares to deliver depend (i) <ix:nonFraction unitRef="number" contextRef="if1ca77ba542e4b6888e71d374edde8bd_D20180608-20180608" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzY1MA_c05ea344-b6d2-4990-af6d-3a5f29059976">50</ix:nonFraction>% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. with regard to the TSRs of a comparison group made up of companies of the telecommunication sector, weighted by its relevance for Telef&#243;nica, and (ii) <ix:nonFraction unitRef="number" contextRef="if1ca77ba542e4b6888e71d374edde8bd_D20180608-20180608" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzkwMQ_58593d39-e0f1-4e64-8fee-cfdc9cedfcb5">50</ix:nonFraction>% on the generation of free cash flow of Telef&#243;nica Group ("FCF").  </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The plan has a duration of <ix:nonNumeric contextRef="i2f1822c1866b4c28917d9254cb7b9083_D20180608-20180608" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzk5OA_10606dd7-334c-468e-b848-6e88884e8541">five years</ix:nonNumeric> and is divided into <ix:nonFraction unitRef="cycle" contextRef="i2f1822c1866b4c28917d9254cb7b9083_D20180608-20180608" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzEwMjE_f3c8d696-50e8-43ba-85c6-d1fa93f203e1">three</ix:nonFraction> cycles of <ix:nonNumeric contextRef="i2f1822c1866b4c28917d9254cb7b9083_D20180608-20180608" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodInForceOfEachPhases" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzEwMzQ_a027036a-c6d3-4013-ac9b-4aaef9248366">three years</ix:nonNumeric> each. 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 <ix:nonFraction unitRef="shares" contextRef="i102015419e4b4dd8909011307697c875_D20180101-20180101" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzExNjQ_8eb2e542-61ec-47ec-bcdd-d24d06f5c26b">8,466,996</ix:nonFraction>, assigned as of January 1, 2018 with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="i8132b7fd0624452488e7dc0e08fea86a_D20180101-20180101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzEyMTI_de23ff95-be7c-4744-88f0-8f5c09899b11">6.4631</ix:nonFraction> euros per share for FCF objective and <ix:nonFraction unitRef="eurPerShare" contextRef="ic18727c41d4b414ab30b4aa698250269_D20180101-20180101" decimals="3" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzEyNTM_f099db36-b506-4fe4-a1ea-3c745a97a97e">4.516</ix:nonFraction> euros for TSR. As of December 31, 2020 the number of outstanding shares was <ix:nonFraction unitRef="shares" contextRef="id906959994f54ae4be786159c412d454_I20201231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzEzMTc_49db2491-7765-44b2-bf49-e263f47a3f30">7,093,162</ix:nonFraction>. Once considered the target fulfillment levels for 2018, 2019, and 2020, a weighted achievement ratio of <ix:nonFraction unitRef="number" contextRef="if870a3d492ff4273bd04ac7bcfab7c84_D20190101-20191231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE0MTk_3f1ea3c9-e68c-4199-ba77-bdd15aeb7ab0"><ix:nonFraction unitRef="number" contextRef="i68f536376e2f4b0088e9174fd0b3301e_D20180101-20181231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE0MTk_72204b04-dec8-4bee-9b51-67b6ed8f0969"><ix:nonFraction unitRef="number" contextRef="i73207dd149e74ec0bd9fb0fe55401837_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE0MTk_c0375cc3-39ea-4e79-a9eb-0491ae83264c">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nevertheless, on February 23, 2021, the Chairman &amp; 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 Telef&#243;nica 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.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in 2019 and finalized on December 31, 2021. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="i16389c29a244456fbda48b0cb41e9a10_D20210101-20211231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzIxNzM_0ffc1384-cf69-4424-bfbb-8e84ba30cd88">9,471,489</ix:nonFraction> with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="ibd97b927a3ee413696f32e4fc769c3f6_D20210101-20211231" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzIyMDI_f8dc39dd-950b-4ae0-94df-0877486313c1">6.1436</ix:nonFraction> euros per share for FCF objective and <ix:nonFraction unitRef="eurPerShare" contextRef="i79ca052d8347418daf78b8b8609f9cc2_D20210101-20211231" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzIyNDM_c9af272f-bce4-4af6-9d14-fb77bddbcbc1">4.4394</ix:nonFraction> euros for TSR. As of December 31, 2021 the number of outstanding shares was <ix:nonFraction unitRef="shares" contextRef="i118234d3d25845efadd227328f824ebd_I20211231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzIzMDc_095708ed-f1eb-4dbe-a854-4fd9c60a7cfe">7,494,896</ix:nonFraction>. Once considered the target fulfillment levels for 2019, 2020, and 2021, a weighted achievement ratio of <ix:nonFraction unitRef="number" contextRef="i5ce362cb53aa493c9989cff253967fe5_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzI0MDk_17866837-c95a-4233-ad04-36add5270524"><ix:nonFraction unitRef="number" contextRef="ibd97b927a3ee413696f32e4fc769c3f6_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzI0MDk_55a3c49f-f021-459e-8973-7df2f82c8aad"><ix:nonFraction unitRef="number" contextRef="i3f356f95e28041ea874504823adc7927_D20190101-20191231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzI0MDk_e2f89929-4129-4d5e-831a-254855845ba0">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-131</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ic59e378ea4f74e31af4d8e233e392f3d" continuedAt="ie33a1d56353b4a0bb3a0b88fb6886bfa"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020 the third and final cycle commenced, which finalized on December 31, 2022. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="iccd77e2751b24182b24e49358bb6fcb8_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjExODU0_1af3eed0-fd83-4093-a488-383878748a6b">5,346,508</ix:nonFraction>, assigned as of January 1, 2020 with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="i080f0b0616a843148704761fdd1e212b_D20220101-20221231" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjExODQ2_62cbdee9-96f1-4cf6-8f2f-43eb35e8aa0a">3.2136</ix:nonFraction> euros per share for FCF objective and <ix:nonFraction unitRef="eurPerShare" contextRef="i1fc5126c463e46f2af63af8539a6923e_D20220101-20221231" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjExODM4_10c22369-2c38-4075-83bf-f41e889cf438">1.6444</ix:nonFraction> euros for TSR. As of December 31, 2022 the number of outstanding shares was <ix:nonFraction unitRef="shares" contextRef="ic4bc4ab4146844f89ba13efcb4fc6f83_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjExODI3_3c8a5730-1c20-4261-aec6-8d85ffa71ee8">4,595,621</ix:nonFraction>. Once considered the target fulfillment levels for 2020, 2021, and 2022, a weighted achievement ratio of <ix:nonFraction unitRef="number" contextRef="i080f0b0616a843148704761fdd1e212b_D20220101-20221231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjExODIy_29385993-7971-4061-aaee-d35686810bb9"><ix:nonFraction unitRef="number" contextRef="i5e19ac0007c346a6b7afc43cfd38059f_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjExODIy_7d0b6c78-d7b0-4526-b815-0123791b5edf"><ix:nonFraction unitRef="number" contextRef="i38b96b5fc68d4024af92550590d60183_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjExODIy_b08a4c37-0542-40fe-8c91-d8d4834359c9">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>% 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.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: Performance Share Plan 2021-2025 </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the General Shareholders&#8217; Meeting held on April 23, 2021, a long-term incentive plan was approved, consisting of the delivery of shares of Telef&#243;nica, S.A. aimed at senior executive officers of the Telef&#243;nica Group, including the Executive Directors of Telef&#243;nica, S.A. The plan consists of the delivery to the participants of a certain number of shares of Telef&#243;nica, S.A. based on compliance with the objectives established for each of the cycles into which the plan is divided. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The number of shares to deliver depend (i) <ix:nonFraction unitRef="number" contextRef="i3eb97869ac7040c2b96c6a9001b3e699_D20210423-20210423" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzM0Mzc_1ccd45e5-c287-48a7-b48a-590a2af83276">50</ix:nonFraction>% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. with regard to the TSRs of a comparison group made up of companies of the telecommunication sector, weighted by its relevance for Telef&#243;nica, (ii) <ix:nonFraction unitRef="number" contextRef="i3eb97869ac7040c2b96c6a9001b3e699_D20210423-20210423" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzM2ODQ_7ac98f57-ff1e-496d-91c7-500b98ecc217">40</ix:nonFraction>% on the generation of free cash flow of Telef&#243;nica Group ("FCF"), and (iii) <ix:nonFraction unitRef="number" contextRef="i3eb97869ac7040c2b96c6a9001b3e699_D20210423-20210423" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzM3NjI_052a1e86-9b2a-4b88-993c-6585e0aeba26">10</ix:nonFraction>% on CO2 Emission Neutralization, in line with the goal set by the Company.   </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The plan has a duration of <ix:nonNumeric contextRef="i3eb97869ac7040c2b96c6a9001b3e699_D20210423-20210423" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzM5MDI_2e3b1db0-b3de-4193-92d5-3d9f3194ebff">five years</ix:nonNumeric> and is divided into <ix:nonFraction unitRef="cycle" contextRef="i3eb97869ac7040c2b96c6a9001b3e699_D20210423-20210423" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzM5MjU_7beeea65-85ca-49d6-b0ff-9a3b3326085a">three</ix:nonFraction> cycles of <ix:nonNumeric contextRef="i3eb97869ac7040c2b96c6a9001b3e699_D20210423-20210423" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodInForceOfEachPhases" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzM5Mzg_41c44bb8-d36e-4f21-9297-f0d11238930f">three years</ix:nonNumeric> each. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzgwNDY_1687f6e8-01e2-42f7-ab51-98e1cc8031a2" continuedAt="icc48338735224fb9895bc5c8d3e4a19b" escape="true">The first cycle commenced in</ix:nonNumeric></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="icc48338735224fb9895bc5c8d3e4a19b" continuedAt="ib9292f1b628240b7b79e17e77b7a74cd"> 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="i9554ce3eb4f740138681a04424d80d3b_D20210423-20210423" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQwOTQ_47e6a279-535f-4be5-80b2-5b49f38ab18f">19,425,499</ix:nonFraction> and the outstanding shares at December 31, 2022 was <ix:nonFraction unitRef="shares" contextRef="i66092fb616564217bf5818164e4afe83_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQxMzQ_8ec63be4-d9f4-4c2b-bafd-de3d48088894">18,544,534</ix:nonFraction>, with the following breakdown: </ix:continuation></span></div><ix:continuation id="ib9292f1b628240b7b79e17e77b7a74cd" continuedAt="i537db506274b44dd8ff3379cac4d4067"><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:46.105%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.311%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.020%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">First cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i726e2f3c9a544eac9060ddcc154e002c_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzEtMS0xLTEtNTEwNDQy_7974f53d-0325-4607-9993-b550b55609e0">9,712,750</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ife0cf45b233f41f8ab4a608e2434c8b8_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzEtMi0xLTEtNTEwNDQy_f9b948e6-5b9a-4a7a-bf80-09b47e1033ef">9,272,267</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ife0cf45b233f41f8ab4a608e2434c8b8_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzEtMy0xLTEtNTEwNDQy_41e0c134-4b55-401b-a8d9-58ee388f88fc">2.64</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i9bc05a03f6d04197b5d5547c9a599374_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzItMS0xLTEtNTEwNDQy_3ded94af-93af-4059-bacc-8da3cfa4c2ce">7,770,200</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ib9c07d2f2d864af5bf56ea0426fbba0d_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzItMi0xLTEtNTEwNDQy_fe3e5ada-9293-4927-9be5-0550b11637cf">7,417,814</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ib9c07d2f2d864af5bf56ea0426fbba0d_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzItMy0xLTEtNTEwNDQy_61dfe6a5-a4d6-4ae3-9ef3-76868c570a3f">3.15</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i1e393fe4ca8844ddb6c54fd5c98f292d_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzMtMS0xLTEtNTEwNDQy_b3a65bdf-8660-422c-bc66-3dcee2678d43">1,942,550</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i29ff47a0d56445e7922d0a0d089e2fc6_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzMtMi0xLTEtNTEwNDQy_d2226af7-2720-44a3-abd6-717fc2a64a5a">1,854,453</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="i29ff47a0d56445e7922d0a0d089e2fc6_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjNGYwZDRkZWYxZTg0OTJlYTk2YTZlYTRmNTViMzEyNS90YWJsZXJhbmdlOmM0ZjBkNGRlZjFlODQ5MmVhOTZhNmVhNGY1NWIzMTI1XzMtMy0xLTEtNTEwNDQy_b9cb56bb-6839-43a5-ace2-ae8d16213a22">3.15</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="i4b9b94de0aa646049c6f443d4691b45f_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEyNTU3_72c4670c-16f3-4491-bdd1-eaec3b6e91ea">15,069,650</ix:nonFraction> and the outstanding shares at December 31, 2022 was <ix:nonFraction unitRef="shares" contextRef="ie76cab15f8a24c9fa6612dd194c16624_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEyNTM5_3e871579-3805-4df3-b3ea-5d73bdc7b259">14,969,799</ix:nonFraction>, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:46.105%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.311%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.020%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Second cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i95c9c4badb6c4558bd89e3b80c639903_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzEtMS0xLTEtNzg3ODgz_5b9bc558-01de-46e0-9407-d025c3002e69">7,534,825</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="if1bb61b3e2414edd9f47d65d13728cc8_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzEtMi0xLTEtNzg3ODgz_e1a577d9-56b4-48bd-bd47-3487977dbd72">7,484,899</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="if1bb61b3e2414edd9f47d65d13728cc8_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzEtMy0xLTEtNzg3ODgz_6c2182b1-d3ae-48cb-8162-73b1cadd42ee">2.43</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="idd56706439c344c39c7695af9eb8e8e1_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzItMS0xLTEtNzg3ODgz_9e9831fa-b56a-46ed-8c7b-c2b3f2273222">6,027,860</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ic43e82ae63ec48a582a93404f7e97f0b_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzItMi0xLTEtNzg3ODgz_c3aef650-68e1-4ff2-88c4-587fca290c21">5,987,920</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ic43e82ae63ec48a582a93404f7e97f0b_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzItMy0xLTEtNzg3ODgz_e51afe4f-a7ef-4dac-8653-0ac0b96677da">2.95</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i461c1583b35a4855a51a579905ccb2c7_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzMtMS0xLTEtNzg3ODgz_fb8ae2ef-7009-487f-b590-66d385dd48ba">1,506,965</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ib71f4f0e2d784f78a2325ce86a43912f_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzMtMi0xLTEtNzg3ODgz_c8659f3a-3c44-41b9-99c8-f4d84b526a5f">1,496,980</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ib71f4f0e2d784f78a2325ce86a43912f_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTo0ZWU2MjRhYmI1MTk0ZjhmOTA1YTI0OTM2N2NiNDViNy90YWJsZXJhbmdlOjRlZTYyNGFiYjUxOTRmOGY5MDVhMjQ5MzY3Y2I0NWI3XzMtMy0xLTEtNzg3ODgz_41e2fdaf-1f93-4ffe-a5c4-f544e9d5e6c7">2.95</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: &#8220;Talent for the Future Share Plan 2018-2022&#8221; (TFSP) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting on June 8, 2018, the Telef&#243;nica, S.A.'s Board of Directors agreed to launch the long-term incentive plan "Talent for the Future Share Plan". </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The term of this plan is <ix:nonNumeric contextRef="i159fc62a89f14f67bea2e8a3438043cd_D20180608-20180608" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQzNDc_b1b89d72-0694-4ea7-89ac-7ca6b8b50bae">five years</ix:nonNumeric> and it is divided into <ix:nonFraction unitRef="cycle" contextRef="i159fc62a89f14f67bea2e8a3438043cd_D20180608-20180608" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQzNzM_074b7d0a-967d-4fc9-b4c1-63f66d474f19">three</ix:nonFraction> cycles. As in the case of the Performance Share Plan 2018-2022 described above, the number of shares to deliver will depend (i) <ix:nonFraction unitRef="number" contextRef="ic66f24f20bd44f7da32bbebb95fb9dfa_D20220101-20221231" decimals="INF" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQ1MDQ_40f0dcb6-fde7-40d5-b1bd-06bf2bbbae93">50</ix:nonFraction>% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. and (ii) <ix:nonFraction unitRef="number" contextRef="ic66f24f20bd44f7da32bbebb95fb9dfa_D20220101-20221231" decimals="INF" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQ2MTI_9c931617-7b15-4b02-befe-f7f3fcb21d9f">50</ix:nonFraction>% on the generation of free cash flow of the Telef&#243;nica Group ("FCF").</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <ix:nonFraction unitRef="shares" contextRef="i15864962af1c4582a31d55419beac5d2_D20180101-20180101" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQ4MDU_efc9c30e-2430-4199-ac0e-61aef89e8e6a">787,500</ix:nonFraction>, assigned as of January 1, 2018 with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="i54683cfb905640b4adc62843f7d1305d_D20180101-20180101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQ4NTM_4e1e25a5-a464-46f2-a499-d64c8712fccf">6.4631</ix:nonFraction> euros per share for FCF objective and <ix:nonFraction unitRef="eurPerShare" contextRef="i5dce0cd60fe94294abe0de39554ea0e2_D20180101-20180101" decimals="3" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQ4OTQ_0324e40a-6de2-4c36-9d5b-2dc2e9171e4e">4.516</ix:nonFraction> euros for TSR.  As of December 31, 2020 the number of outstanding shares was <ix:nonFraction unitRef="shares" contextRef="i22a27408030e44fd8eb201ad546484e9_I20201231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzQ5NTk_00060764-b246-4d9f-a124-e7d7433d7baf">691,750</ix:nonFraction>. Once considered the target fulfillment levels for 2018, 2019, and 2020, a weighted achievement ratio of <ix:nonFraction unitRef="number" contextRef="ic5a46bd707b24a7b8b4c289185babf48_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzUwNjE_4291d50b-a6e8-469d-b638-11e10a285dc8"><ix:nonFraction unitRef="number" contextRef="idc2fd31781dd4ef597c31abcf436feef_D20180101-20181231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzUwNjE_98512b5b-372f-4f41-b9a7-8d97963dfef4"><ix:nonFraction unitRef="number" contextRef="ia4737a43b6ac4bc781fe1f381dac0a5d_D20190101-20191231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzUwNjE_c60ea159-b02b-4e15-bb93-5b3fada8a94f">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-132</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie33a1d56353b4a0bb3a0b88fb6886bfa" continuedAt="i72addc0575514beeb1a957eeec3a10ff"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in 2019 and finalized on December 31, 2021. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="i07e9c7b96fcc4ec0acae4db22982ee07_D20190101-20190101" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzUzMjM_60032704-f548-4435-ad88-f935f0b82aea">812,000</ix:nonFraction>, assigned as of January 1, 2019 with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="i6a776d216f534f52bf85b6c1439187aa_D20190101-20190101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzUzNzE_4815d790-3c17-43dd-8107-af1087f18fb8">6.1436</ix:nonFraction> euros per share for FCF objective and <ix:nonFraction unitRef="eurPerShare" contextRef="ic15fc6fe8f624230ba832a8e54017b7c_D20190101-20190101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzU0MTI_847b8a8c-334a-47fc-9531-44849e4ea2f1">4.4394</ix:nonFraction> euros for TSR.  As of December 31, 2021 the number of outstanding shares was <ix:nonFraction unitRef="shares" contextRef="i80447a11c4bd4056be8576a37efd1f0e_I20211231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzU0Nzc_ddcae815-c4e5-42b0-9cef-188a4bf53fd7">690,750</ix:nonFraction>. Once considered the target fulfillment levels for 2019, 2020, and 2021, a weighted achievement ratio of <ix:nonFraction unitRef="number" contextRef="i23f04436e1ec4b9e91a6a6c7c4fbfa8f_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzU1Nzk_0ae40e6d-2ae9-416e-9ca7-e689b02189d5"><ix:nonFraction unitRef="number" contextRef="ie46f78b846a844ad9afd6ed13284ea3f_D20190101-20191231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzU1Nzk_a177caae-fea7-49ee-abbd-be9c6fd48ecb"><ix:nonFraction unitRef="number" contextRef="ie3bd0172f71f43e5837b1f72a52807b3_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzU1Nzk_c933a04c-4c66-4117-bd2a-932a49bd6c9a">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020 the third and final cycle commenced, which finalized on December 31, 2022. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="iaf87933609624024a47f45d1a5046c0f_D20200101-20200101" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEzNjQw_f58d8322-45a4-4a02-b079-f8146cec04a1">897,400</ix:nonFraction>, assigned as of January 1, 2020 with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="i25f91bbec63b4e8b9e63d767266c06c0_D20200101-20200101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEzNzI4_51745105-ccf4-4d69-8300-488bc4f95e64">3.2136</ix:nonFraction> euros per share for FCF objective and <ix:nonFraction unitRef="eurPerShare" contextRef="if3befd94b4c240c9900db4a15a4fcf08_D20200101-20200101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEzNjMy_72a6f6e9-59b5-481a-994e-7021195479f5">1.6444</ix:nonFraction> euros for TSR. As of December 31, 2022 the number of outstanding shares was <ix:nonFraction unitRef="shares" contextRef="i54cb8217d488489294ab1a73dcbbab12_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEzNjIz_5286cd9d-d705-46e9-b9a7-59925f3224bf">761,600</ix:nonFraction>. Once considered the target fulfillment levels for 2020, 2021, and 2022, a weighted achievement ratio of <ix:nonFraction unitRef="number" contextRef="i22549d1d419542348d127762470510f0_D20220101-20221231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEzNjE4_3310f9bb-5fc2-4a73-9c3e-b8a23908cb92"><ix:nonFraction unitRef="number" contextRef="iffc769cb357a41aab40c1c1c1cb1bfd9_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEzNjE4_b0cad4ba-89df-4995-a1a0-ae64978fd19c"><ix:nonFraction unitRef="number" contextRef="i285b2e4c006848dc9cfaad1ba64c8301_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjEzNjE4_b89f3b75-b96f-4651-89c0-0a13ec18cfd4">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>% 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.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: &#8220;Talent for the Future Share Plan 2021-2025&#8221; (TFSP) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting on March 17, 2021, the Telef&#243;nica, S.A.'s Board of Directors agreed to launch a new installment of the long-term incentive plan "Talent for the Future Share Plan". </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The term of this plan is also <ix:nonNumeric contextRef="id94ff1655b41472f84aa64367284f1f7_D20210317-20210317" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzYzMTY_17a2d4ef-2a13-4c16-845d-4f6fc5932a7b">five years</ix:nonNumeric> and it is divided into <ix:nonFraction unitRef="cycle" contextRef="id94ff1655b41472f84aa64367284f1f7_D20210317-20210317" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzYzNDI_71fddb6e-5c99-4900-9b61-909711ab1d88">three</ix:nonFraction> cycles. As in the case of the Performance Share Plan 2021-2025 described above, the number of shares to deliver will depend (i) <ix:nonFraction unitRef="number" contextRef="id94ff1655b41472f84aa64367284f1f7_D20210317-20210317" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzY0NzM_c96932bb-8077-4085-b96e-17731383c1ed">50</ix:nonFraction>% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. with regard to the TSRs of a comparison group  made up of companies of the telecommunication sector, weighted by its relevance for Telef&#243;nica, (ii) <ix:nonFraction unitRef="number" contextRef="id94ff1655b41472f84aa64367284f1f7_D20210317-20210317" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzY3MjA_606a4892-3f5b-4c61-aef8-e2edf4cc93fb">40</ix:nonFraction>% on the generation of free cash flow of Telef&#243;nica Group ("FCF"), and (iii) <ix:nonFraction unitRef="number" contextRef="id94ff1655b41472f84aa64367284f1f7_D20210317-20210317" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzY3OTg_541946e0-92a6-4e51-91b4-6e5324af9289">10</ix:nonFraction>% on CO2 Emission Neutralization, in line with the goal set by the Company.  </span></div><ix:continuation id="i537db506274b44dd8ff3379cac4d4067"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The first cycle commenced in 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="i5112b63ea33e46ba86725228e0e1e401_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzcwNTc_e4966e08-340c-4767-b5b8-25c3919a3e8f">1,751,500</ix:nonFraction> and the outstanding shares at December 31, 2022 was <ix:nonFraction unitRef="shares" contextRef="iafc032f941624802bff2c987cc5c73bc_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzcwOTc_e4771d0d-1870-4e17-b236-527cd19fefb5">1,659,500</ix:nonFraction>, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:46.105%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.311%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.020%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">First cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="if5c3fee62ddf45ebb646f88d5513d4e4_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzEtMS0xLTEtNTEwNDQy_106f3413-480a-49d1-88d2-e68b3db6d63b">875,750</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i09e6a9084043402cab5cd8ff5bc902e5_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzEtMi0xLTEtNTEwNDQy_31eb9208-5420-44de-ac52-95110d60d3bd">829,750</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="i09e6a9084043402cab5cd8ff5bc902e5_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzEtMy0xLTEtNTEwNDQy_4c4bde0a-a2e5-4373-8e36-b50a84aae8cd">2.64</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i5fd8f8ca0833437390ff718919a9e0f1_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzItMS0xLTEtNTEwNDQy_743e133e-7c96-4948-82f8-b340e04d6b53">700,600</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i65da8963dc704651a7090491ea19ecda_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzItMi0xLTEtNTEwNDQy_7e0d790c-0c59-460c-b2ff-0ea45b21bfc3">663,800</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="i65da8963dc704651a7090491ea19ecda_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzItMy0xLTEtNTEwNDQy_76dc2277-7547-45c6-8ba3-d5941e04ae3d">3.15</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ie9c08ecc3a074f9f8fe17ec1c9ec5eee_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzMtMS0xLTEtNTEwNDQy_edcd369e-f5b9-40aa-a7ac-d9cfc729daba">175,150</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="iba6ea191f6af4b7e8668bcdfb93ecfd1_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzMtMi0xLTEtNTEwNDQy_8b903f27-d7e5-4f59-808e-1f3a2a2094f2">165,950</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="iba6ea191f6af4b7e8668bcdfb93ecfd1_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZToxZDM3OGQ1MTllZjU0YjY4YWEzOTEwZjI2MjBjZTRkMi90YWJsZXJhbmdlOjFkMzc4ZDUxOWVmNTRiNjhhYTM5MTBmMjYyMGNlNGQyXzMtMy0xLTEtNTEwNDQy_2069c3f9-10de-44a1-b249-2e0a4b3c25b6">3.15</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was <ix:nonFraction unitRef="shares" contextRef="i3b937c90cf074ad9b81a477ae64fa0ae_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjE0MDky_f5e526d3-f5aa-45ba-ab58-f56ca63da8a2">1,646,500</ix:nonFraction> and the outstanding shares at December 31, 2022 was <ix:nonFraction unitRef="shares" contextRef="i1383713949c449d1be36675e41513ae1_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjE0MDgx_33ee8abc-9562-4736-a537-16e7e6876acb">1,611,000</ix:nonFraction>, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"></td><td style="width:46.105%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.311%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.020%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Second cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i88cd26d4305449c594d299292a475a20_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzEtMS0xLTEtNzg4MDE3_e98ca161-8445-467e-adf4-496b32aba685">823,250</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i8fa6cec7158b4386a90b8fa8680c2674_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzEtMi0xLTEtNzg4MDE3_59c47f3c-e1c7-4c79-99c8-97ab01df8aab">805,500</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="i8fa6cec7158b4386a90b8fa8680c2674_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzEtMy0xLTEtNzg4MDE3_1d901e1c-8c07-4301-a5b0-e93befb5c8c2">2.43</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i89ed6102ecc24c7ba4cd2fa20a3dfa46_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzItMS0xLTEtNzg4MDE3_78b7dc13-4139-4707-b882-df6b6243450f">658,600</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ieb65a99fe3364b02a660587e1eb7022a_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzItMi0xLTEtNzg4MDE3_45c62fbf-c866-47ca-b6fa-a0fdd2b3278a">644,400</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="ieb65a99fe3364b02a660587e1eb7022a_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzItMy0xLTEtNzg4MDE3_1fca5aff-7ba7-4657-a517-33fb8fd4f612">2.95</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i64ccf7c1f420405eb9e1e18954215b48_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzMtMS0xLTEtNzg4MDE3_a10faa01-7343-4388-82d9-6564fb6fedfe">164,650</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i9249c803c059445c8eb5ab23c65a53a7_I20221231" decimals="INF" name="ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzMtMi0xLTEtNzg4MDE3_583f5327-9500-4678-b65b-42f15176db0a">161,100</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eurPerShare" contextRef="i9249c803c059445c8eb5ab23c65a53a7_I20221231" decimals="2" name="ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzMtMy0xLTEtNzg4MDE3_208c7218-1e16-429b-868e-da5f93a3fe1b">2.95</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Incentivized purchases of Telef&#243;nica, S.A. shares for employees </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica, S.A. Ordinary General Shareholders&#8217; meeting on April 8, 2022 approved a new voluntary plan for incentivized purchases of shares of Telef&#243;nica, S.A. for the employees of the Group. Under this Plan, employees are offered the option to acquire Telef&#243;nica, 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 can invest is limited to <ix:nonFraction unitRef="eur" contextRef="idd51cf758fff4277bd7b7f2254087b17_D20180608-20180608" decimals="INF" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzc3MDA_6ee77832-9dc9-44d6-857a-f835600358fd">1,800</ix:nonFraction> euros. The total number of free shares to be delivered for the whole plan may never exceed <ix:nonFraction unitRef="number" contextRef="idd51cf758fff4277bd7b7f2254087b17_D20180608-20180608" decimals="4" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAnEmployeeIsAllowedToPurchaseOfShareCapitalPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjE0NzY0_6cf39dc3-dd56-4c65-85dd-cc3ae2ed0d03">0.38</ix:nonFraction>% of the share capital of Telef&#243;nica, S.A. at the date of approval of the plan at the General Shareholders' Meeting.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-133</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i72addc0575514beeb1a957eeec3a10ff">The purchase period commenced in October 2022 and will finalize in September 2023. In March 2024 the vesting period of the plan will end. At December 31, 2022, <ix:nonFraction unitRef="employee" contextRef="i5ab13d8e93834a15a437fdbf3a4585d7_D20220101-20221231" decimals="INF" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzc4NDU_6a873c70-779d-4747-8bc2-5e652b36a801">27,518</ix:nonFraction> employees had registered for the plan.</ix:continuation></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-134</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_358"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 28. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfCashFlowStatementExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2Mjk_00598909-42ae-4559-86be-34c14bccede9" continuedAt="ib7b5310dd50c4162a2e9f4ee2cf8f84c" escape="true">Cash flow detail</ix:nonNumeric></span></div><ix:continuation id="ib7b5310dd50c4162a2e9f4ee2cf8f84c" continuedAt="iacd41e5ccef941d3a71f0f852324ba25"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net cash flow provided by operating activities</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MzE_fed8ba95-b706-4820-8c26-a1694484e277" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of net cash flow provided by operating activities is the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.281%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash received from operations</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ReceiptsFromOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEtMS0xLTEtNTEwNDQy_73fe65c7-90b9-44c3-94e8-2bd44c70539c">46,925</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ReceiptsFromOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEtMi0xLTEtNTEwNDQy_d9ddade8-aff0-45fe-9b32-44635c04d8f7">46,415</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:ReceiptsFromOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEtMy0xLTEtNTEwNDQy_0c83847e-0e10-49d8-ac62-1480b8564282">51,353</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash paid from operations</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsForOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzItMS0xLTEtNTEwNDQy_038891f6-0263-4ed8-ac21-070f59cf65e1">34,778</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsForOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzItMi0xLTEtNTEwNDQy_e791bad3-3a02-452a-8071-7c5c809b17a4">34,379</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsForOperations" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzItMy0xLTEtNTEwNDQy_54a3b066-78cf-4056-8b95-c242eb7566ac">36,477</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash paid to suppliers</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsToSuppliersForGoodsAndServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzMtMS0xLTEtNTEwNDQy_13e39053-4059-4e7d-9067-90d4f0af74bd">29,509</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsToSuppliersForGoodsAndServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzMtMi0xLTEtNTEwNDQy_cbd80e80-c9a1-4190-96cd-3856dd1e5506">29,236</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsToSuppliersForGoodsAndServices" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzMtMy0xLTEtNTEwNDQy_c5901d54-d776-4c1a-b5a3-3c88f27e0c26">31,080</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash paid to employees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsToAndOnBehalfOfEmployees" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzQtMS0xLTEtNTEwNDQy_2a97ccdd-4ad2-4eb0-97ea-f6880be192f4">4,416</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsToAndOnBehalfOfEmployees" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzQtMi0xLTEtNTEwNDQy_5345289b-fc53-4813-8586-30c393e13a77">4,299</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsToAndOnBehalfOfEmployees" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzQtMy0xLTEtNTEwNDQy_53ea6ccd-320c-470e-8654-02a1f4b1717b">4,434</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments related to cancellation of commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:OtherCashPaymentsFromOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzUtMS0xLTEtNTEwNDQy_215c89ae-9d5e-4ad0-b810-c005c93f0d72">853</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:OtherCashPaymentsFromOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzUtMi0xLTEtNTEwNDQy_03ca35e5-e371-4e8f-9cd0-41f057584ee4">844</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:OtherCashPaymentsFromOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzUtMy0xLTEtNTEwNDQy_d89da558-7b44-4dd5-861a-8194561bc6eb">963</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net payments of interest and other financial expenses net of dividends received</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzYtMS0xLTEtNTEwNDQy_24fb22b2-3770-42cb-9a01-f0b3b594f7c8">292</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzYtMi0xLTEtNTEwNDQy_484f3d85-3b3a-4ab0-9e41-d330f3cad3fa">1,309</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzYtMy0xLTEtNTEwNDQy_f3c08e75-3edb-4a4d-b82f-cde1285086e1">1,171</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net interest and other financial expenses paid</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:InterestPaidClassifiedAsOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzctMS0xLTEtNTEwNDQy_28e609eb-4396-4914-8b99-cde6e3fb4f89">1,236</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:InterestPaidClassifiedAsOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzctMi0xLTEtNTEwNDQy_87e8e545-2978-460c-86f3-f0767ad08778">1,519</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:InterestPaidClassifiedAsOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzctMy0xLTEtNTEwNDQy_70b3a591-07cb-47d6-91ce-740eded76899">1,193</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzgtMS0xLTEtNTEwNDQy_6c388ac9-2105-446e-86fa-45e14cf17157">944</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzgtMi0xLTEtNTEwNDQy_fb4eae87-60a3-4926-a7a1-16faa463f622">210</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzgtMy0xLTEtNTEwNDQy_5fe70c5a-89fe-4e74-be36-83a924a52efc">22</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Taxes proceeds / (payments)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzktMS0xLTEtNTEwNDQy_eeed408c-0de4-4ba4-848a-300ee7990fb2">92</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzktMi0xLTEtNTEwNDQy_c4ff90be-670f-4e3d-aee3-f83fd8803755">459</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzktMy0xLTEtNTEwNDQy_80126896-9d57-465c-8420-e6070a29b2ff">509</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEwLTEtMS0xLTUxMDQ0Mg_3f1f14b5-f647-43ae-afad-fd4a66bb0316">11,763</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEwLTItMS0xLTUxMDQ0Mg_da197aee-4b73-425a-bd83-b1e17eb73593">10,268</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEwLTMtMS0xLTUxMDQ0Mg_8462cc1f-3bd7-41b8-9efa-7600f93e0c4c">13,196</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, dividends amounting to <ix:nonFraction unitRef="gbp" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE5OA_dadea9d3-c62a-43a1-a19e-9fc423181ff7">800</ix:nonFraction> million pounds were received from VMED O2 UK Ltd (see Note 10) equivalent to <ix:nonFraction unitRef="eur" contextRef="ie54239bf60f646ada6fba5e42dffcf76_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzI2MQ_9169e588-57bb-41b7-87c6-f8ca2819f1a8">909</ix:nonFraction> million euros (<ix:nonFraction unitRef="gbp" contextRef="i5f31bd402cda497d8d44bba322c4e772_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2Mjk1MDg_1e52b694-6e6a-433f-94bb-81be6772388e">161</ix:nonFraction> million pounds, equivalent to <ix:nonFraction unitRef="eur" contextRef="i5f31bd402cda497d8d44bba322c4e772_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2Mjk1MTI_83e23fd5-d652-43fb-9892-a35f11edee46">187</ix:nonFraction> million euros in 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net cash flow used in investing activities</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfCashFlowItemsInvestingActivitiesInvestmentsAndPropertyPlantAndEquipmentAndIntangibleAssetsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MDU_2313b736-d3ae-4130-9222-6492b49a4acb" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a detail of the items comprising the net cash flow used in investing activities.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:68.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.272%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds from the sale in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzEtMS0xLTEtNTEwNDQy_ab673603-da73-4cbb-9286-8e3e23784d67">842</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzEtMi0xLTEtNTEwNDQy_2cacd075-103c-49a6-b4db-dd2217df246e">564</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzEtMy0xLTEtNTEwNDQy_a9008961-3305-4844-aef0-318502d9def9">509</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments on investments in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzItMS0xLTEtNTEwNDQy_e3884c15-6a1d-43a8-8f31-84d3c4b294c4">6,350</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzItMi0xLTEtNTEwNDQy_6aae6ef0-a7fd-4873-ad97-8b4c55fddbfe">6,728</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzItMy0xLTEtNTEwNDQy_44af2ad5-3337-485e-9f63-2ff6924f5bce">7,529</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" sign="-" name="tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzMtMS0xLTEtNTEwNDQy_0e8459cc-f30f-44fc-bd81-f56906a55445">5,508</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzMtMi0xLTEtNTEwNDQy_a9ffa082-c85b-4372-89a7-4a6b4082587a">6,164</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" sign="-" name="tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzMtMy0xLTEtNTEwNDQy_cdd5fa7c-7adb-4539-a092-470f72f51033">7,020</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments for non-financed spectrum in 2022 totaled <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsToAcquireIntangibleAssets1" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2MzA4MDU_8000a317-036e-4a35-bf5f-b57d487a0249">27</ix:nonFraction> million euros, mainly due to the payment of <ix:nonFraction unitRef="eur" contextRef="ieabca359a87c4295b60970b123f8c8ee_D20220101-20221231" decimals="-6" name="tef:PaymentsToAcquireIntangibleAssets1" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2MzA4MDY_b80e8870-7bf9-4bdf-bc84-d2ca896082e8">11</ix:nonFraction> million euros for Telef&#243;nica M&#243;viles Argentina and <ix:nonFraction unitRef="eur" contextRef="ia92d7178cd884044b6e32c78f059f7dd_D20220101-20221231" decimals="-6" name="tef:PaymentsToAcquireIntangibleAssets1" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2MzA4MDc_cdbadbe1-163a-4b48-889f-f9d51fdbb5f2">8</ix:nonFraction> million euros for Telef&#243;nica de Espa&#241;a.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments for non-financed spectrum in 2021 totaled <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsToAcquireIntangibleAssets1" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzQ4NQ_4584c14e-f9fd-4814-86d8-0425e359a58d">999</ix:nonFraction> million euros, mainly due to the payment of <ix:nonFraction unitRef="eur" contextRef="id88ae4c2625d4d9ea74069ce6c9dd94b_D20210101-20211231" decimals="-6" name="tef:PaymentsToAcquireIntangibleAssets1" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzUzMg_3688e152-bc07-494c-81df-420749b1b41e">521</ix:nonFraction> million euros for Telef&#243;nica United Kingdom, <ix:nonFraction unitRef="eur" contextRef="i144ffb815b844772a12925583929c11c_D20210101-20211231" decimals="-6" name="tef:PaymentsToAcquireIntangibleAssets1" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzU4MA_ad00b633-1569-491f-8f92-a1b807f3322c">343</ix:nonFraction> million euros for Telef&#243;nica Spain and <ix:nonFraction unitRef="eur" contextRef="iae4aae20a3db4a05a14107026675315f_D20210101-20211231" decimals="-6" name="tef:PaymentsToAcquireIntangibleAssets1" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzYyMg_546ab3d2-f03e-44f3-9829-846bd857383a">131</ix:nonFraction> million euros for Telef&#243;nica Chile.</span></div></ix:continuation><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-135</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="iacd41e5ccef941d3a71f0f852324ba25" continuedAt="idfa406f3712647c8b31f18cadc8be722"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfCashFlowItemsInvestingActivitiesProceedsOnDisposalsOfCompaniesAndPaymentsOnInvestmentsInCompaniesTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MDA_bdf23d65-436d-4e3a-b26b-e843227bf0e0" escape="true"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.538%"><tr><td style="width:1.0%"></td><td style="width:66.110%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.730%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.733%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Constitution of VMO2 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 2)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia3b17ecf939c4cc5a84c8203288453b8_D20220101-20221231" decimals="-6" sign="-" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzItMS0xLTEtNTEwNDQy_3cab8a04-afb8-4395-8acd-1f23e8471152">256</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia6ea07d21c69438ca091ec69cd75468d_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzItMi0xLTEtNTEwNDQy_174fa256-1f96-4d7b-a2e9-56be6202c720">5,872</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if4ed66c9f3364773bd3a16e7c5680adb_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzItMy0xLTEtNTEwNDQy_7d3fe416-69dc-4690-80ce-dcec2b7a068c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of Telecommunications towers divisions of Telxius (Note 2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida743e925eec42758a070d1834eb723e_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzMtMS0xLTEtNTEwNDQy_5d98f861-6039-43b2-afc7-3d966d9d8a52">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if41454c2923b4310be35594edd5dc90f_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:num-dot-decimal" scale="6" 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE1LTItMS0xLTUxMDQ0Mg_934204c1-6899-4399-9cec-dba6bba41552">13,369</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c34c18fe7024d9f81a150bbc78c974f_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE1LTMtMS0xLTgwOTQ2OA_ea24b731-7cbf-4479-9eaa-8dcb8c5cc594">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id2f0269cb59b405493ddc544ee493083_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE2LTItMS0xLTgwOTQ2OA_e215934a-1e3d-4959-8c54-a0297c492b53">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib79d42768814414087c25c3aa8b39bd9_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE2LTMtMS0xLTgwOTQ2OA_48cbc2c8-1095-466c-a8d1-9212832cee62">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cancom acquisition (Note 5)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i26192057d30f4e2cabc918f04f9b59c4_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE2LTEtMS0xLTUxMDQ0Mg_824caa77-5aab-488a-992b-98dcce877cba">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i239fd8e83dec41d4b60f02cba4ac2f0c_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE2LTItMS0xLTUxMDQ0Mg_64985119-3fed-4590-abf8-4745ec9794fb">374</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if3d6fd0e52a440cabec0c8fd3d169d1f_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE2LTMtMS0xLTUxMDQ0Mg_521b38e7-aa56-4275-9e78-37e73ed1ab98">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital increase of UGG TopCo (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2687d293fb1e4ac88bb6a0be6a0161b5_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE3LTEtMS0xLTUxMDQ0Mg_45488d70-1c98-43f6-b0a8-1c9a63091823">50</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i864adf6235ce4b2b94430c8dd62af465_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE3LTItMS0xLTUxMDQ0Mg_dcad78cd-b346-40ac-a0bc-5cc2fcb2f48e">27</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5b8ba01606c74ca09c59ac4ca8967a8a_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE3LTMtMS0xLTUxMDQ0Mg_845f7b33-bac8-4182-bb32-8d8738455e15">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icbdb382432904a41a1fa8ad61923ac2d_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE4LTEtMS0xLTUxMDQ0Mg_f4270772-7e93-4ada-887b-e2d01d14bfe0">86</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i26a2fab985c140c38e37e9650817804f_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE4LTItMS0xLTUxMDQ0Mg_e2ed2576-3e5c-4162-9927-824d76f31eaf">13</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7e719815cc424204b5f18aa864877557_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzE4LTMtMS0xLTUxMDQ0Mg_a923ce08-a39e-46b9-b7a5-770a3fa03278">79</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payments on investments in companies, net of cash and cash equivalents acquired</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzI0LTEtMS0xLTUxMDQ0Mg_b7d4261f-cde0-47c8-b569-bafdac33e905">1,628</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzI0LTItMS0xLTUxMDQ0Mg_1586257c-24ec-4d99-a68b-24efdbdfcd3a">414</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2ZjBjNjgyN2NmMTE0MjVmODJiNGU3ZDA3ZDAzODBiOS90YWJsZXJhbmdlOjZmMGM2ODI3Y2YxMTQyNWY4MmI0ZTdkMDdkMDM4MGI5XzI0LTMtMS0xLTUxMDQ0Mg_6c4e7502-b436-4c2c-9107-6497bf169e01">79</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Cash 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie7e5883a1a094471a5f5f9981e2da677_D20220101-20221231" decimals="-6" name="tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzQtMS0xLTEtNTEwNDQy_ff801b06-8d7e-4fca-87ba-a75a5bb95123">73</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzUtMy0xLTEtNTEwNDQy_921d8a7c-d7f2-407e-8d18-d9456ca8f5ab">2,308</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal deposits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie1f47bcc45174326bcc0626f1a78cea8_D20220101-20221231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzYtMS0xLTEtNTEwNDQy_4a6d53f8-964b-4d6c-b3de-aa4689d2277f">4</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Collateral guarantees on derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i266d56cd9a8f40f79cde3a96cb0cc5d7_D20220101-20221231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzctMS0xLTEtNTEwNDQy_e7bba4b6-de48-411a-9bbd-6f510510e7f6">2,195</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7ed4782e91e7416bb167eac3b3683c9c_D20210101-20211231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzctMi0xLTEtNTEwNDQy_34ead7c7-1c9b-4fce-ba9f-39f233235af6">1,228</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9b4b6109721f4c819feef63949507965_D20200101-20201231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3383afe629174706b23d02320e39faad_D20220101-20221231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEwLTEtMS0xLTUxMDQ0Mg_b3b5f251-aae8-4888-9a6a-78c0856aa2e7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie941281eab4d43b59c9ee8a14ea4545e_D20210101-20211231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEwLTItMS0xLTUxMDQ0Mg_d644b070-8e66-40de-8c66-507d258de170">117</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i36b71bc8ddc34e028c59ed446effbc5a_D20200101-20201231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEwLTMtMS0xLTUxMDQ0Mg_0dd21f05-39d5-44b3-b913-1d416558bc65">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term financial instruments of Pegaso PCS (Note 12)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2fcd4bc777d741efb1be5dfd4c650be3_D20220101-20221231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzExLTEtMS0xLTUxMDQ0Mg_a2482c06-ae57-4f62-8cc6-bdf4138b0e57">260</ix:nonFraction>)</span></td><td 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie7e5883a1a094471a5f5f9981e2da677_D20220101-20221231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEzLTEtMS0xLTUxMDQ0Mg_aace3398-950b-493a-b4b2-899b78bb51ac">116</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0bb69b6f2e374304b2dcb3ee07111b02_D20210101-20211231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEzLTItMS0xLTUxMDQ0Mg_422f0359-5d78-41e1-a9ab-8a067384db4e">122</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i823b046c9e474a4abe378279873fd376_D20200101-20201231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEzLTMtMS0xLTUxMDQ0Mg_3c0261dc-e397-47ab-8074-04cbf2a34321">46</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payments on financial investments not included under cash equivalents</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzE0LTEtMS0xLTUxMDQ0Mg_2b7c829d-e716-4e04-923a-e14992cc3b0b">2,575</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzE0LTItMS0xLTUxMDQ0Mg_f1d670ed-931f-472b-b278-df894a481557">1,474</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzE0LTMtMS0xLTUxMDQ0Mg_fb55022e-0c61-490a-b762-f68ee7e27635">3,297</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net proceeds/(payments) for temporary financial investments</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:ProceedsFromPaymentsForTemporaryFinancialInstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEyLTEtMS0xLTEwMDM1NjM_5e2e649c-6682-4669-ae1a-8f3216aa97e6">1,532</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTemporaryFinancialInstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEyLTItMS0xLTEwMDM1NjM_38725053-3aad-4f83-af29-ba0958521f50">1,584</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:ProceedsFromPaymentsForTemporaryFinancialInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEyLTMtMS0xLTEwMDM1NjM_fdc61ecb-73a8-458d-b2f0-841f437e2771">217</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net proceeds/(payments) for temporary financial investments mainly includes placements of treasury surpluses not included in cash equivalents.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-136</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="idfa406f3712647c8b31f18cadc8be722" continuedAt="if8a163dadd7a4f89a132e42097d4b31f"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net cash flow used in financing activities</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a detail of the items comprising the net cash flow used in financing activities.</span></div><div style="margin-top:9pt;text-align:justify"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfCashFlowItemsFinancingActivitiesDividendsPaidProceedsFromIssuanceOfShareCapitalAndOtherOperationsTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MTM_175762a7-4702-445f-a428-d02cff0fb2e5" escape="true"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"></td><td style="width:65.615%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.092%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.948%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends paid to the shareholders of Telef&#243;nica, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0d7b963db138407ca809405b0ceefd24_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEtMS0xLTEtNTEwNDQy_9d47ddab-990c-494c-ae15-8153960fc4c9">959</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i60d75169c2974035a535e2ebf25a4467_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEtMi0xLTEtNTEwNDQy_519da797-bbd9-40b3-93d3-0bacea64ca2a">617</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4cb777b4723e4563a4b07fa8e920a054_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEtMy0xLTEtNTEwNDQy_b828d44b-0089-456e-b12f-9f87f6b7d7eb">825</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6a47f67f650d421eb4c8ac82f99dc9e1_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzItMS0xLTEtNTEwNDQy_481a8385-c065-46ed-a6b6-6d1e9ec2d0f6">268</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iac0040e7b1d14d959989a3a01481be05_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzItMi0xLTEtNTEwNDQy_1f8cbd77-1333-493a-b18b-75c61f525696">198</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie4812b74374e47c69faa709aa028e8d0_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzItMy0xLTEtNTEwNDQy_3f37cbd4-903b-429e-8243-0bc41895b4a0">227</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4ea5131d171d42bb9a3f244025d4a9d6_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzMtMS0xLTEtNTEwNDQy_d2533c46-4deb-4c03-a365-bc81bf31ea3a">161</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i86e2ba90cc5e49e08d6ce48d7a7a4038_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzMtMi0xLTEtNTEwNDQy_f1812bc8-526f-418f-94aa-bb25552498a1">165</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iefdb70da93d7438f83441d0f68e69c2c_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzMtMy0xLTEtNTEwNDQy_38f9359f-0c5d-435f-92ea-0e4b651871c7">156</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzQtMi0xLTEtNTEwNDQy_29de5890-0f11-4930-a3c0-58bfe518718d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i067eb1057df74f3bb7d3247f9350bf82_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzQtMy0xLTEtNTEwNDQy_4749d3af-01bd-4fac-85fe-dbdd6e1f15c7">39</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telxius for the sale of the telecommunications tower divisions (see Note 17.h)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id292a6c055ac4223ac36088f317f415f_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzUtMi0xLTEtNTEwNDQy_2cab6fe0-57e6-4eda-a156-e7c2ee6f1dbc">2,603</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5cacb91399be45ab9c158bb1dcf13f3f_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzUtMy0xLTEtNTEwNDQy_55fe4f60-66e3-4186-a80f-6ad7ee082aff">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6aec28a51adc4b9ebebd014e9fb9c61e_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzYtMS0xLTEtNTEwNDQy_691c084d-edda-463f-b2d7-1df564a4be6b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib1ede3eade9e45bdb126d5674bd3f4e4_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzYtMi0xLTEtNTEwNDQy_e69ab787-9d11-4254-bdd6-d216e4c52957">42</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8b8a3636d235406bba381ff991d5cd40_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzYtMy0xLTEtNTEwNDQy_38513bdc-4c00-4064-9ba8-5868d6a5694b">44</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3baf8a19e2134741aa615d997458621f_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzctMS0xLTEtNTEwNDQy_149657dc-23d1-4e31-99b6-746aae06c572">9</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i938f51abfbe0496b9aa32f1243cc1dcb_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzctMi0xLTEtNTEwNDQy_9e554e81-e3f9-43fb-82b5-aecf2a45f0d1">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if3cd22099cd048adbd12b10061fa3a4c_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzctMy0xLTEtNTEwNDQy_c80c68ac-ce1f-4b81-a1dd-7b15ee300664">5</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid (see Note 17)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzgtMS0xLTEtNTEwNDQy_71d12f98-cbaa-4656-b797-bf61af04c990">1,397</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzgtMi0xLTEtNTEwNDQy_b6cfb807-a865-4929-8b86-bf8780662bd7">3,630</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:DividendsPaidClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzgtMy0xLTEtNTEwNDQy_f68a779e-4b40-4c13-9611-a526f114c4e8">1,296</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share capital increase Pontel and Telxius (see Note 17.h)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3ff01040528d43278aeb023f6e11fe9a_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzktMS0xLTEtNTEwNDQy_5fde408f-16b7-4ed3-8474-a9d88b8e3625">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idfca8ca9d64d4457a8547b20ccc616f2_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzktMi0xLTEtNTEwNDQy_8b8e5ebc-c864-4155-b819-0ad5d3b34c70">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i25bce4d77bda4f929bb9cbd4939407f3_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzktMy0xLTEtNTEwNDQy_19832e3f-7dad-496c-b759-10537ad5f14e">323</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Establishment of Bluevia Fibra (see notes 2 and 17.h)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id547caa9596a40819669ef5595dd2e35_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEwLTEtMS0xLTUxMDQ0Mg_9a164b94-66e4-48d9-bf0f-67756d93c3c4">1,021</ix:nonFraction>&#160;</span></td><td style="border-top:2pt 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colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3d96bdec164c49239a3d9a5dc98b8fb7_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEwLTMtMS0xLTUxMDQ0Mg_bed871b9-b7f6-4a2d-ae7d-9bcb9b137c5e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3df63655bcf44347946fcce96f94f314_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzExLTEtMS0xLTgwOTgxNQ_15d38792-6f2f-4d66-83cb-91069bd8361e">1</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8214c84abd6a460fa068f7e97253a34c_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzExLTItMS0xLTgwOTgxNQ_65564741-299a-4ffb-b7a6-18ac89b7f293">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8450f74f18b64dc296e9b619fd46b3ce_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzExLTMtMS0xLTgwOTgxNQ_eacaefcb-0152-44e8-8019-480d79694a32">&#8212;</ix:nonFraction>&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds from share capital increase with minority interests</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" format="ixt:num-dot-decimal" scale="6" 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format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzExLTItMS0xLTUxMDQ0Mg_44e23140-2e43-4fdf-a4d5-0ebbbeaa8635">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssuingShares" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzExLTMtMS0xLTUxMDQ0Mg_91e2845a-fa64-42a2-b9e8-6c0d9f3b6106">323</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Own shares purchase of Telef&#243;nica Brasil</span></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i67069622795f4984aadf978ffaf7e1ca_D20210101-20211231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEyLTItMS0xLTUxMDQ0Mg_7e8747a2-fc6a-48dd-9bde-770ef215fd82">78</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic9100018287c496bb35b3d7c77398d8c_D20200101-20201231" decimals="-6" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEyLTMtMS0xLTUxMDQ0Mg_f7ba82c9-ab15-4f03-bc17-1557f17767b8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Shares purchase of Telef&#243;nica Deutschland</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id431a4c8a1964a238e4f0ae31e9df29f_D20220101-20221231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEzLTEtMS0xLTUxMDQ0Mg_40415209-9066-4832-b0c8-532c2fa46bb1">48</ix:nonFraction>)</span></td><td style="border-top:2pt solid 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colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iee7252188d9b4e6e8cc2c897b1855413_D20200101-20201231" decimals="-6" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzEzLTMtMS0xLTUxMDQ0Mg_ddb311a6-a58b-444d-82e1-102385346e35">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transactions carried out by Telef&#243;nica, S.A. (see Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic1e56f1eebe040df91126e12ac43153b_D20220101-20221231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzE0LTEtMS0xLTUxMDQ0Mg_92129f69-6d57-4c4d-be5e-83ae9d2598be">365</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if13f1082ae524f2e8bc8689d30b77b57_D20210101-20211231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzE0LTItMS0xLTUxMDQ0Mg_f62094af-00b3-495b-9ce7-a7a3b11cd90a">478</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ifb1bfc03474f4c3790c4e1cdc7abfdb0_D20200101-20201231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzE0LTMtMS0xLTUxMDQ0Mg_2c2e6b41-3413-44b2-ac85-fd4f659a2941">217</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Centroam&#233;rica Inversiones, S.L. share premium (ECPN.) refund related to the sale of T. Guatemala, T. Nicaragua and T. Panama</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i201b927caa59446fbe62ea5b14fdeac0_D20220101-20221231" decimals="-6" sign="-" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzE2LTEtMS0xLTUxMDQ0Mg_86c89e2e-7dda-4142-99bd-2753300b55df">44</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib240805c8dc9452484a3df2c48ccefb8_D20220101-20221231" decimals="-6" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzE3LTEtMS0xLTUxMDQ0Mg_689c8617-ad80-4a12-85d8-0a1e243baf64">13</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i349c82d7f8b346ee9127f7a854e703cb_D20210101-20211231" decimals="-6" name="tef:ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzE3LTItMS0xLTUxMDQ0Mg_64ebad70-f5c0-4d2f-a383-6c62ebf495ed">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75e02a26eef74a1c9316a3984fb23953_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssuingOtherEquityInstruments" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzIwLTItMS0xLTUxMDQ0Mg_d5b0c63e-688e-42cc-a9ad-038ebe5f5da3">1,750</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie0a2d5037b1947b08de84179bdb1907c_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssuingOtherEquityInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzIwLTMtMS0xLTUxMDQ0Mg_6815ec93-07e0-4279-80df-048104d2fd25">500</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzIyLTMtMS0xLTUxMDQ0Mg_89f48cb1-fbcf-465b-86f8-14ab27229645">808</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payment of the coupon related to the issuances of undated deeply&#160;subordinated securities issued (see Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if36351c0cf1f4e02a15650836b1b8ee4_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsOfOtherEquityInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzIzLTEtMS0xLTUxMDQ0Mg_6dd9f06e-1e4b-4b40-ac7c-11b2872eab1e">268</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1e081ea878ba42a8855cebc2bb38110f_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsOfOtherEquityInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzIzLTItMS0xLTUxMDQ0Mg_4d605130-c09a-48e2-a10e-433be28639f7">354</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0bff8796a33e49ceb9491b50ec6415c0_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsOfOtherEquityInstruments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzIzLTMtMS0xLTUxMDQ0Mg_edd19799-f563-4030-bf08-4402f068fc3c">327</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operations with other equity holders</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:CashFlowsFromOperationsWithOtherEquityHolders" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzI0LTEtMS0xLTUxMDQ0Mg_4a297799-bca4-4af9-9c81-56b5169cf424">268</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:CashFlowsFromOperationsWithOtherEquityHolders" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzI0LTItMS0xLTUxMDQ0Mg_e3d4ce3a-f1e4-4625-be0e-c8b2e6bfa0d3">354</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:CashFlowsFromOperationsWithOtherEquityHolders" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTphOWViODg2NWQzMmM0YjA2OTZkYTdiZTVmMTk2YWU1Yi90YWJsZXJhbmdlOmE5ZWI4ODY1ZDMyYzRiMDY5NmRhN2JlNWYxOTZhZTViXzI0LTMtMS0xLTUxMDQ0Mg_5f8470ed-faaf-48c3-84b8-7ea32dc78ef9">1,020</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> 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.</span></ix:nonNumeric></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-137</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="if8a163dadd7a4f89a132e42097d4b31f"><div style="margin-top:9pt;text-align:justify"><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfCashFlowItemsFinancingActivitiesProceedsOnIssuanceOfDebenturesAndBondsAndAdditionalInformationTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MTU_399cb6ba-6677-4958-b510-bf167751106c" continuedAt="i8ad3563eec7e4770b879f0d380ccba86" escape="true"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:66.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.897%"></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7a21af2ab9b74a0faeffa8f8e5adc6d5_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMtMi0xLTEtNTEwNDQy_a2614cc7-aac1-40f7-941c-eec2900e8dcc">535</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id426b985453049f9ab9bc389dd5037b0_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzYtMS0xLTEtNTEwNDQy_1f518bb5-1053-462c-aa23-3886c21243d7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i22244b928b674ce19c2e173f8376ca62_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzYtMi0xLTEtNTEwNDQy_8733949c-5bae-47c6-a863-768a8d199821">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic99cb486d9e54718b1f9dd5266a67fd0_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzYtMy0xLTEtNTEwNDQy_49348971-7c60-4b00-ae5c-0cf87952d811">408</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5ea95bc723df4934a5f6ef3b1ecf3e69_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzctMS0xLTEtNTEwNDQy_8360133d-5ba2-44e6-bb3f-4a13f1f41710">18</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i397c4be24e0447d8a55acd37443ff2a7_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzctMi0xLTEtNTEwNDQy_666e1644-cc1d-4624-89f1-8bb4fbcc72a0">26</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if6d123249b6449a09a51a136708f613f_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzctMy0xLTEtNTEwNDQy_192270d3-9d4b-48fd-91a1-ca93a88cb9a5">103</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds on issue of debentures and bonds, and other debts</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzktMS0xLTEtNTEwNDQy_c19b8aac-a7ee-47ab-84d8-d113d29bced1">1,746</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzktMi0xLTEtNTEwNDQy_ddef4ae7-16b2-4a30-a439-0ab07e4d2ee3">561</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzktMy0xLTEtNTEwNDQy_5427aaf1-27c0-49e3-b0d7-e7a7ff867c37">4,011</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loans of Telef&#243;nica, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1a8ee9d32f144c24838771a67d52c3d5_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEwLTEtMS0xLTUxMDQ0Mg_0e41b49d-8e20-4540-be0f-b6c97864a942">150</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i41d7c949f31d4692bc3aa928beb6c082_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEwLTItMS0xLTUxMDQ0Mg_5f90fe10-f7b6-439f-bdf3-8058c237493f">200</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib4d5a06e48af4ee4b0daa3410338bc31_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEwLTMtMS0xLTUxMDQ0Mg_2d595537-e315-4db3-9f7c-c1c471a719bd">350</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of <ix:nonFraction unitRef="eur" contextRef="ia9a3ec5413944a0e8b5af1d003147066_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEyLTAtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjRjZjRiNzM0M2JiYTQ2ZDI4MWRmODU0MzQ1MjY5MjMwXzI4_0dd8b74d-005a-4bdd-9b15-ff745bec9815">750</ix:nonFraction> million euros by Telef&#243;nica Germany GmbH </span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4fdfba384ace481eab4ae43fb217a2b8_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEyLTEtMS0xLTUxMDQ0Mg_218e4cc4-e026-4043-a32b-4920c5ae4482">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia9a3ec5413944a0e8b5af1d003147066_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEyLTItMS0xLTUxMDQ0Mg_2640eea2-23db-4234-9d23-75cceeae834c">750</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4850c9eb1cde4e1eb7a9c8bd5b3a5876_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEyLTMtMS0xLTUxMDQ0Mg_709de41f-a5c3-467f-a21e-50d2cb9672a5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of Telxius Telecom, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i25cadaa2491c4adea2d370c72190d820_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEzLTEtMS0xLTUxMDQ0Mg_a1b125e5-ed97-4b69-90c9-31aa6d6f3196">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iff56d811dead469ab792b73c63dafeee_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEzLTItMS0xLTUxMDQ0Mg_c7e5b9eb-a401-4661-a088-20110ca4a848">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if1b5e5f063d9405ebe812e3926221c19_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEzLTMtMS0xLTUxMDQ0Mg_cce02002-14d5-409c-874a-bf312051a2de">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loan of Telef&#243;nica Brasil, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie47fab07c3f04ce2b7792844b23bb3b7_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE0LTEtMS0xLTUxMDQ0Mg_2235ca68-ab5b-41cb-87aa-81213abbe515">199</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8b3ea6d8091d40a3b1b89f59ce75bf26_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE0LTItMS0xLTUxMDQ0Mg_b4ca0047-8cd6-45f1-b731-e74637ba1b5f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3736f8666a6e45ffa6a8e81487041516_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE0LTMtMS0xLTUxMDQ0Mg_79be32c2-3221-4dde-9ec8-e544645599ef">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of Bluevia Fibra S.L. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b38e37a091b4cf58936466ef9588cc3_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEyLTEtMS0xLTgwOTk5Mw_fb3130d9-0c3c-4530-a5b6-4b1dcacc415e">245</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i76ef61f0212c403b947f7a4dca51e2ee_D20210101-20211231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEyLTItMS0xLTgwOTk5Mw_d362d46c-b532-40e5-910a-fd51824e730b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i21c43f7029144ba88bbf4d871a435921_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEyLTMtMS0xLTgwOTk5Mw_847fefb8-a6fa-47d5-ac50-bb4d58229de7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Settlement of nominal value of gross debt hedging derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie923d6ac4c5f48ceae657daf5f4e7306_D20220101-20221231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzEzLTEtMS0xLTgwOTk5Mw_e0e43c26-7c48-4b32-a8ce-ab7071232379">89</ix:nonFraction>&#160;</span></td><td style="border-top:1pt 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name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE2LTItMS0xLTUxMDQ0Mg_adbeecd1-1f65-466f-bf4b-3ef7ef388c2f">2,135</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if188119e1955425586043146f8e7e9ee_D20200101-20201231" decimals="-6" 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE3LTMtMS0xLTUxMDQ0Mg_44894689-4276-435a-8cce-e1e76d03bcd2">4,516</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE4LTItMS0xLTUxMDQ0Mg_badae67d-263e-4dee-a93a-2cc00a4e7bfb">5,847</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBondsNotesAndDebentures" format="ixt:num-dot-decimal" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i21d1d7a14a3144afbbe1f871e37c6390_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE5LTItMS0xLTUxMDQ0Mg_032bd8da-f9b1-421a-9942-55f2b2cd16a2">750</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2893736eab8747d3a3d810e6d65a073b_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzE5LTMtMS0xLTUxMDQ0Mg_b29d2a74-9870-42d4-bd80-56d0e318c691">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Colombia Telecomunicaciones, S.A. ESP BIC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i923cbfbb10074a2cad03de626564b245_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzIwLTEtMS0xLTUxMDQ0Mg_e010d024-d8c0-436a-a5aa-2f7b737c9019">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1a0d3beb3cd34b229dff6c0527463ec4_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzIwLTItMS0xLTUxMDQ0Mg_3ffc6f9c-c3cc-4e3d-bbd8-b3f58729d5de">200</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icb7bf523576c4ea59443f2fe338eba51_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzIwLTMtMS0xLTUxMDQ0Mg_6ecfda3d-65b4-4c3b-ba51-f0aea152f841">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization bilateral loans of Colombia Telecomunicaciones, S.A. ESP BIC </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1a8ee9d32f144c24838771a67d52c3d5_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzIzLTEtMS0xLTUxMDQ0Mg_d1aad091-d781-47e9-a5a4-f65f6df66c94">117</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i41d7c949f31d4692bc3aa928beb6c082_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzIzLTItMS0xLTUxMDQ0Mg_70878182-bed1-4c8f-8203-d1a61a51c4d7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib4d5a06e48af4ee4b0daa3410338bc31_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzIzLTMtMS0xLTUxMDQ0Mg_6ab7540d-5760-45f7-a23e-25f99c0db5c7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Telxius Telecom, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i25cadaa2491c4adea2d370c72190d820_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI0LTEtMS0xLTUxMDQ0Mg_b8e41af3-70d3-41db-9680-6c07dce38bf7">70</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iff56d811dead469ab792b73c63dafeee_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI0LTItMS0xLTUxMDQ0Mg_5edc977c-0419-45c2-91de-be03bcd9df7c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if1b5e5f063d9405ebe812e3926221c19_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI0LTMtMS0xLTUxMDQ0Mg_efe0147a-1d3e-4a99-8f11-e08e1867c671">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Settlement of nominal value of amortized debt hedging derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie923d6ac4c5f48ceae657daf5f4e7306_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI1LTEtMS0xLTUxMDQ0Mg_32937f18-44ee-41e6-bc48-378b3cbee077">715</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i6cf809f0a9db4ec1a0c5bccb7f77f09d_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI1LTItMS0xLTUxMDQ0Mg_cd8dbb93-02b9-4ad5-a33b-abd264772f60">34</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i41dc25e46fe94c848d2f1e123c5bd4f2_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI1LTMtMS0xLTUxMDQ0Mg_ef4bc9de-9139-42a2-a11f-71eb2f0c502c">139</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i901496e1609e404b8d7727316544c0c7_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI2LTEtMS0xLTUxMDQ0Mg_7a227f54-3b1b-497b-a2f7-ea5de9c0cb34">2,175</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0ac10ed416ad422ca0a943adc2ea8660_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI2LTItMS0xLTUxMDQ0Mg_7914606c-72ed-45c3-b175-1d4fb0c3af19">3,162</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if188119e1955425586043146f8e7e9ee_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI2LTMtMS0xLTUxMDQ0Mg_58aec344-d876-46f1-ac4c-67ea692db611">2,713</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayments of loans, borrowings and promissory notes&#160;(see Appendix V)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI3LTEtMS0xLTUxMDQ0Mg_3ec22d10-4bbe-4fe3-ba88-94cf6e326939">3,077</ix:nonFraction>)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI3LTItMS0xLTUxMDQ0Mg_33b65d0d-c53c-48db-8c63-7f14a65dba0a">4,146</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI3LTMtMS0xLTUxMDQ0Mg_c649c271-9592-414f-9670-6ab643f08b94">2,852</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease principal payments (Note 20)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PrincipalPaymentsofLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI4LTEtMS0xLTUxMDQ0Mg_0de4975d-7ee5-4c42-b281-712e3ca1b509">1,996</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PrincipalPaymentsofLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI4LTItMS0xLTUxMDQ0Mg_38f5fbe5-2471-403d-96b9-779399be04ee">1,782</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PrincipalPaymentsofLeaseLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI4LTMtMS0xLTUxMDQ0Mg_3d25c1bd-1dae-413f-8be4-9d6aa7546bd9">1,787</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financed spectrum licenses payments (Note 21)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsOfSpectrumLicenses" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI5LTEtMS0xLTUxMDQ0Mg_b7502085-4995-4742-b72d-858d4d88e2a6">549</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsOfSpectrumLicenses" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI5LTItMS0xLTUxMDQ0Mg_b889e08b-323b-43dd-9b95-49a6b648f92d">57</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsOfSpectrumLicenses" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzI5LTMtMS0xLTUxMDQ0Mg_327db7e5-af14-4485-8839-2a12ee4ecb05">60</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments for investments in spectrum use licenses financed without explicit interest<br/>(Notes 2 and 21)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:PaymentsforInvestmentsinSpectrumLicenses" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMwLTEtMS0xLTUxMDQ0Mg_d9e7b1da-7c2e-44f4-8d2a-b7498ccd073c">108</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:PaymentsforInvestmentsinSpectrumLicenses" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMwLTItMS0xLTUxMDQ0Mg_3f2b5f9e-4ff0-495e-ab36-49dacf7f3c03">108</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:PaymentsforInvestmentsinSpectrumLicenses" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMwLTMtMS0xLTUxMDQ0Mg_ff7ebab1-45f1-4c27-89f0-66a35c932a47">87</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to suppliers with extended payment terms</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="tef:TradeAndOtherPayablesDeferredPayments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMxLTEtMS0xLTUxMDQ0Mg_9f21447e-2437-4f9a-8c98-1a9b7cbeb924">41</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="tef:TradeAndOtherPayablesDeferredPayments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMxLTItMS0xLTUxMDQ0Mg_a0f1ac59-97fa-4116-913a-1f274bdba7f2">108</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="tef:TradeAndOtherPayablesDeferredPayments" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMxLTMtMS0xLTUxMDQ0Mg_9fc420a3-ce0b-471f-b02a-5b68d2fd553f">235</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financed operating payments and investments in property, plant and equipment and intangible assets payments </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-6" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMyLTEtMS0xLTUxMDQ0Mg_cff03fbd-e419-4508-9b62-07cc691018ea">698</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-6" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMyLTItMS0xLTUxMDQ0Mg_9c4873fb-0c91-486a-8634-90057c0a5516">273</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231" decimals="-6" name="ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTozMjg0NTBkOWE2Mjg0ZmRjYWQ1ZGNjOGY2MDBmYzNkZC90YWJsZXJhbmdlOjMyODQ1MGQ5YTYyODRmZGNhZDVkY2M4ZjYwMGZjM2RkXzMyLTMtMS0xLTUxMDQ0Mg_42782050-4fe1-4e3c-b932-9ea8700914bd">382</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:nonNumeric></div><div style="margin-bottom:9pt;text-align:justify"><ix:continuation id="i8ad3563eec7e4770b879f0d380ccba86"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Data</span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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.</span></ix:continuation></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-138</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_361"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 29. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfAdditionalInformationExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyOTg1MzUwNzE0MTA_80b271d6-7435-4cf7-9104-2da862cef202" continuedAt="i4712a585129843469e95c30e31279ef4" escape="true">Other information</ix:nonNumeric></span></div><ix:continuation id="i4712a585129843469e95c30e31279ef4" continuedAt="i1dfa661796204b258cfc3221e9331f37"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Litigation and arbitration</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, 2022 were prepared. The provisions recorded in respect of the commitments taken as a whole are not material.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following unresolved legal proceedings or those underway in 2022 are highlighted (see Note 25 for details of tax-related cases):</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the decision by Agencia Nacional de Telecomunica&#231;&#245;es (&#8220;ANATEL&#8221;) regarding the inclusion of interconnection and network usage revenues in the Fundo de Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es (&#8220;FUST&#8221;) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vivo Group operators (currently "Telef&#243;nica Brasil"), together with other cellular operators, appealed ANATEL&#8217;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 Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es) &#8211;a fund which pays for the obligations to provide Universal Service&#8211; with retroactive application from 2000. On March 13, 2006, Brasilia Federal Regional Court no. 1 granted a precautionary measure which stopped the application of ANATEL&#8217;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&#8217;s calculation and rejecting the retroactive application of ANATEL&#8217;s decision. On January 26, 2016, ANATEL filed an appeal to overturn this decision with Brasilia Federal Regional Court no. 1, which was also dismissed. On May 10, 2017 ANATEL appealed to the higher courts on the merits of the case. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time, Telef&#243;nica Brasil and Telef&#243;nica Empresas, S.A., together with other wireline operators through ABRAFIX (Associa&#231;&#227;o Brasileira de Concession&#225;rias de Servi&#231;o Telefonico Fixo Comutado) appealed ANATEL&#8217;s decision of December 16, 2005, also obtaining the precautionary measures requested. On June 21, 2007, Brasilia Federal Regional Court no. 1 ruled that it was not appropriate to include the interconnection and network usage revenues in the FUST&#8217;s taxable income and rejected the retroactive application of ANATEL&#8217;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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of the claim is quantified at <ix:nonFraction unitRef="number" contextRef="i74fa986356d74713ab306b526d7db217_I20221231" decimals="2" name="tef:ProportionofInterconnectionRevenuesContingentLiabilities" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM5MDg_6553105f-1404-4f11-8e2e-514ebe8bf41e">1</ix:nonFraction>% of the interconnection revenues. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the Decision of the European Commission dated January 23, 2013, to sanction Telef&#243;nica for the infringement of Article 101 of the Treaty on the functioning of the European Union </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 19, 2011, the European Commission initiated formal proceedings to investigate whether Telef&#243;nica, S.A. (Telef&#243;nica) and Portugal Telecom SGPS, S.A. (Portugal Telecom) had infringed European Union antitrust laws with respect to a clause contained in the sale and purchase agreement of Portugal Telecom&#8217;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</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-139</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i1dfa661796204b258cfc3221e9331f37" continuedAt="ib795ae4aacaf4cfda50494d020801e3a"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 23, 2013, the European Commission passed a ruling on the formal proceedings. The ruling imposed a fine on Telef&#243;nica in the amount of <ix:nonFraction unitRef="eur" contextRef="i6532d0e2d0b0434ebbcdfd6728fa3343_I20130123" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ3NTA_bcda5d93-a60b-464c-b023-9796b46f7667">67</ix:nonFraction> million euros, as the European Commission ruled that Telef&#243;nica 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&#8217;s ownership interest of Brasilcel, N.V. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 9, 2013, Telef&#243;nica filed an appeal for annulment of this ruling with the European Union General Court. On August 6, 2013, the European Union General Court notified Telef&#243;nica 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, Telef&#243;nica filed its reply. On December 18, 2013, the European Commission filed its appeal.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A hearing was held on May 19, 2015, at the European Union General Court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica on services in which there was not potential competition or were outside the scope of Clause Nine.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 23, 2016, the European Commission filed its response against the Telef&#243;nica's appeal. On January 30, 2017, Telef&#243;nica filed its response. On March 9, 2017, the European Commission filed its rejoinder.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 13, 2017, the General Court dismissed the appeal filed by Telef&#243;nica. The European Commission, which was urged to recalculate the amount of the fine in the judgment of the General Court of June 2016, issued a resolution on January 25, 2022, imposing a fine of  <ix:nonFraction unitRef="eur" contextRef="icd57398f70e548d3acf10e34585886fe_I20220125" decimals="INF" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzY4NDI_f7816fdb-6301-4e09-bfd7-cb5e78fefbe8">67</ix:nonFraction> million euros on Telef&#243;nica. In April 2022, Telef&#243;nica paid the fine of <ix:nonFraction unitRef="eur" contextRef="i77fd9f7c80cd40cc8fbc0ba6bb844633_D20220401-20220430" decimals="-6" name="tef:ContingentLiabilitiesAmountPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjU4MjIx_2fde4c47-8093-4455-9834-fb7f395116f1">67</ix:nonFraction> million euros imposed, bringing the procedure to an end.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Decision by the High Court regarding the acquisition by Telef&#243;nica of shares in &#268;esk&#253; Telecom by way of a tender offer </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venten Management Limited ("Venten") and Lexburg Enterprises Limited ("Lexburg") were non-controlling shareholders of &#268;esk&#253; Telecom. In September 2005, both companies sold their shares to Telef&#243;nica in a mandatory tender offer. Subsequently, Venten and Lexburg, in 2006 and 2009, respectively, filed actions against Telef&#243;nica claiming a higher price than the price for which they sold their shares in the mandatory tender offer.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica'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 Telef&#243;nica to pay <ix:nonFraction unitRef="czk" contextRef="i793a767173de429d82ed887fe1014f0c_I20160805" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2Xzc5Mjk_371ed68e-ea80-4c5d-bfa5-f6da8821e547">644</ix:nonFraction> million Czech korunas (approximately <ix:nonFraction unitRef="eur" contextRef="i793a767173de429d82ed887fe1014f0c_I20160805" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2Xzc5Njk_1c117034-109b-4810-b6ed-df438f5668ce">23</ix:nonFraction> million euros) to Venten and <ix:nonFraction unitRef="czk" contextRef="i0cfa1624f98740ceb96e7d26ef6a6492_I20160805" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzgwMDE_044b725e-77c3-4190-bdd9-b3d1588e8386">227</ix:nonFraction> million Czech korunas (approximately <ix:nonFraction unitRef="eur" contextRef="i0cfa1624f98740ceb96e7d26ef6a6492_I20160805" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzgwNDE_9d5a57c3-f223-4f27-a722-c47f0c5b461d">8</ix:nonFraction> million euros) to Lexburg, in each case plus interest.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2016, the decision was notified to Telef&#243;nica. Telef&#243;nica filed an extraordinary appeal, requesting the suspension of the effects of the decision.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2017, Telef&#243;nica was notified of the decision of the Supreme Court, which ordered the suspension of the effects of the unfavorable decision to Telef&#243;nica issued by the High Court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, Telef&#243;nica filed its response seeking dismissal of such motion for lack of legal basis. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 14, 2019,&#160;notification was given to Telef&#243;nica of the resolution of the Supreme Court which, based on the extraordinary appeal filed by Telef&#243;nica, abolished the decision of the High Court in Prague dated August 5, 2016 and remanded the case back to the High Court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2021, the High Court of Prague confirmed its appointment of an expert in order to produce a new expert report to assess the reliability of market-based price criteria used in the mandatory tender offer and further </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-140</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib795ae4aacaf4cfda50494d020801e3a" continuedAt="ice8a184da7e84635bf625edb84f35bba"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">technical issues discussed in this litigation, including a new discounted cashflow valuation of the shares of &#268;esk&#253; Telecom in 2005.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the resolution of ANATEL to sanction Telef&#243;nica Brasil for breaches of the Fixed Telephony Regulation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2018, Telef&#243;nica filed a judicial action for annulment against a resolution issued by ANATEL (the National Telecommunications Agency of Brazil) in March 2018 concluding the administrative process for determination of non-compliance with obligations (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Processo Administrativo para Apura&#231;&#227;o de Descumprimento de Obriga&#231;&#245;es</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or "PADO") investigating alleged infractions of the Fixed Telephony Regulation by Telef&#243;nica Brasil.     </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This PADO investigation had been suspended during the negotiations of the conduct adjustment term (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Termo de Ajustamento de Conduta</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or "TAC") between Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In its resolution of March 2018, ANATEL considered that Telef&#243;nica Brasil committed several infractions, specifically 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fine imposed by ANATEL and appealed by Telef&#243;nica Brasil is approximately <ix:nonFraction unitRef="brl" contextRef="i8e651512acf44c2db58a8265b7ff5bc3_I20180531" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNzE1_107104a2-3b7e-4a04-a1c5-d4cc71fb3ed8">211</ix:nonFraction> million Brazilian reals (approximately <ix:nonFraction unitRef="eur" contextRef="i8e651512acf44c2db58a8265b7ff5bc3_I20180531" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNzU3_3393df6c-718b-4bcb-be5b-e06d3c971337">38</ix:nonFraction> million euros), which amounted to approximately </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="brl" contextRef="i3e63fdb239be405cbf9f35fdc3cf7521_I20221231" decimals="-6" name="tef:EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwODA4_fec1c6aa-a846-4a32-a217-8b4b2616b8ae">575</ix:nonFraction></span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million Brazilian reals after currency value updates and accrued interest as of December 31, 2022 (approximately </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="i3e63fdb239be405cbf9f35fdc3cf7521_I20221231" decimals="-6" name="tef:EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTI0_0a0215f0-f56e-4e0e-a418-8ad3f3e0c561">103</ix:nonFraction></span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brasil has not yet paid the fine, although Telef&#243;nica Brasil has guaranteed its payment through a guarantee insurance submitted to the court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of the date of these financial statements, there has been no conciliation and the proceeding is following its normal course.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ICSID Arbitration Telef&#243;nica, S.A. vs. Republic of Colombia</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the local arbitration brought by Colombia against Colombia Telecomunicaciones (&#8220;ColTel&#8221;), on July 25, 2017, the local arbitration tribunal ordered ColTel to pay <ix:nonFraction unitRef="brl" contextRef="ic93c0baeb7fd4054ae5a744a8dc335f3_I20170725" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzExNzMy_f10d1561-5c46-48a8-a242-989ac37637eb">470</ix:nonFraction> million euros as economic compensation for the reversion of assets related to voice services in relation to the concession granted between 1994 and 2013. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 29, 2017, ColTel&#8217;s share capital was increased in order to make the payment ordered by the local arbitral award; Telef&#243;nica, S.A. contributed and disbursed an amount equivalent to <ix:nonFraction unitRef="number" contextRef="i22d2bfaee5ac4079894eeddbae276f06_D20170829-20170829" decimals="3" name="tef:ContingentLiabilitiesPercentPaid" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEyMDgw_9a1d95b1-60da-4cba-9f84-5ac5d1a656e4">67.5</ix:nonFraction>% of the award&#8217;s amount (<ix:nonFraction unitRef="eur" contextRef="i22d2bfaee5ac4079894eeddbae276f06_D20170829-20170829" decimals="-6" name="tef:ContingentLiabilitiesAmountPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEyMTA2_7665255c-b857-421b-bfa1-0aa777002e69">317</ix:nonFraction>  million euros) and the Colombian Government contributed an amount equivalent to the remaining <ix:nonFraction unitRef="number" contextRef="ie5a358d0995c4ac994767a672ac3869a_D20170829-20170829" decimals="3" name="tef:ContingentLiabilitiesPercentPaid" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEyMjA0_c1a4b910-3fd4-48d7-82b0-dd9d7d44b951">32.5</ix:nonFraction>% (<ix:nonFraction unitRef="eur" contextRef="ie5a358d0995c4ac994767a672ac3869a_D20170829-20170829" decimals="-6" name="tef:ContingentLiabilitiesAmountPaid" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEyMjA4_0b76e30e-2e42-43dc-a4fd-b2f4a9cafb44">153</ix:nonFraction> million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2018, Telef&#243;nica, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The ICSID Court was constituted on February 26, 2019, with Jos&#233; Emilio Nunes Pinto as President, Horacio A. Grigera Na&#243;n appointed by Telef&#243;nica, S.A., and Yves Derains appointed by Colombia. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Colombia filed Preliminary Objections on Jurisdiction on August 5, 2019. Telef&#243;nica, S.A. responded to Colombia&#8217;s objections in its Claimant&#8217;s Memorial on September 23, 2019, in which it also requested that Colombia pay compensation for damages caused to Telef&#243;nica, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 23, 2019, Colombia submitted its Complementary Objections on Jurisdiction as well as a request for Bifurcation, to which Telef&#243;nica, S.A. responded on November 29, 2019. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica, S.A.&#8217;s claim is pending. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 3, 2020, Colombia filed its reply to the claim filed by Telef&#243;nica before the ICSID.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-141</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ice8a184da7e84635bf625edb84f35bba" continuedAt="iddae1985b59a4fa3840cb417fc34209f"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2, 2020, Telef&#243;nica presented its response to Colombia's reply.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the hearing held in April 2021, on July 27, 2021 the hearing of closing arguments was held, and the parties are awaiting the issuance of the arbitration award.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica's lawsuit against Millicom International Cellular for default in the sale of Telef&#243;nica de Costa Rica</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. (Telef&#243;nica) 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 Telef&#243;nica de Costa Rica TC, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Millicom expressed its refusal to proceed with the closing, arguing that the competent Costa Rican administrative authorities had not issued the appropriate authorization.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 25, 2020, Telef&#243;nica 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 Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 29, 2020, Millicom filed a Motion to Dismiss, to which Telef&#243;nica replied on July 8, 2020.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 3, 2020, Telef&#243;nica 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 to Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 5, 2021, the Motion to Dismiss filed by Millicom in June 2020 was dismissed by the New York Supreme Court. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ICSID Arbitration Telef&#243;nica, S.A. vs. Republic of Peru</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 5, 2021, Telef&#243;nica filed a request for arbitration against the Republic of Peru at the ICSID, which was formally registered on March 12, 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica bases its claims on the Agreement for the Promotion and Reciprocal Protection of Investments between the Kingdom of Spain and the Republic of Peru ("APRPI") signed on November 17, 1994. Telef&#243;nica argues that the Peruvian tax administration (called Superintendencia Nacional de Aduanas y de Administraci&#243;n Tributaria, known as "SUNAT") and other state bodies have failed to comply with the obligations established in the APRPI, including by adopting arbitrary and discriminatory actions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is requested that the defendant be ordered to fully compensate Telef&#243;nica for all damages suffered.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the Tribunal was constituted, on February 9, 2023, Telef&#243;nica filed a request for urgent injunctive relief together with a request for injunctive relief, requesting the suspension of the administrative litigation (acci&#243;n contencioso-administrativa or ACA) related to the income tax for the years 1998, 2000 and 2001, as well as the extension of the deadline for submission by Telef&#243;nica of the memorial or claim. Following response of Peru, on February 16, 2023, the Tribunal ruled to dismiss Telef&#243;nica's request for urgent injunctive relief, to establish the procedural calendar to process the request for injunctive relief and to grant Telefonica two additional weeks to file the memorial or claim.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2013) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2013, Telef&#243;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#243;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#243;nica Brasil for a period of <ix:nonNumeric contextRef="i6ad3cf706a024cdba2cc668c7e2e598e_D20130101-20131231" name="tef:RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NjY0_946911c7-3a5e-47e0-bed9-3fa06e9830ec">fifteen years</ix:nonNumeric>).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to ANATEL the renewals, which must be carried out every <ix:nonNumeric contextRef="i6ad3cf706a024cdba2cc668c7e2e598e_D20130101-20131231" name="tef:PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NzM1_140d0b19-924c-41fd-91b0-07b6649dc45d">two years</ix:nonNumeric>, should be accompanied by a payment equivalent to <ix:nonFraction unitRef="number" contextRef="i6ad3cf706a024cdba2cc668c7e2e598e_D20130101-20131231" decimals="2" name="tef:PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2Nzg4_a97f1131-f447-4f51-acd5-a3cf3c142dee">2</ix:nonFraction>% of all income derived from the provision of personal mobile services, while Telef&#243;nica </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-142</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="iddae1985b59a4fa3840cb417fc34209f" continuedAt="ibb21f042c6db4c518ce59da005d020bd"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2020, Telef&#243;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the amount under litigation was <ix:nonFraction unitRef="brl" contextRef="i9ae7cb89b1174b4cb6fc9fc4b448d02b_I20221231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE3MzYw_488a417c-da76-49cc-9b6b-e7652397c43f">774</ix:nonFraction>&#160;million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="i9ae7cb89b1174b4cb6fc9fc4b448d02b_I20221231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE3Mzgw_f19ae84e-fb33-48a4-ad1d-0d4a3bc17c59">139</ix:nonFraction> million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2015)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2015, Telef&#243;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#243;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#243;nica Brasil for a period of <ix:nonNumeric contextRef="i13dd3a2ea95a4a889b468fce85899bd7_D20150101-20151231" name="tef:RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDI0NDk_b7445c30-7947-4cae-9d16-e3ce3924286a">fifteen years</ix:nonNumeric>).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to ANATEL the renewals, which must be carried out every <ix:nonNumeric contextRef="i13dd3a2ea95a4a889b468fce85899bd7_D20150101-20151231" name="tef:PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNTY0MTky_998800ae-26a3-4434-8819-9e7be1e3f7e0">two years</ix:nonNumeric>, should be accompanied by a payment equivalent to <ix:nonFraction unitRef="number" contextRef="i13dd3a2ea95a4a889b468fce85899bd7_D20150101-20151231" decimals="2" name="tef:PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNTY0MTk0_4c68ef44-853d-4d08-808e-3bbc356a4a39">2</ix:nonFraction>% of all income derived from the provision of personal mobile services, while Telef&#243;nica Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2016, Telef&#243;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed. Pending judgment on appeal.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the amount under litigation was <ix:nonFraction unitRef="brl" contextRef="i20d99577aa93481c84d3f68fbce305fd_I20221231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDI1MTI_6739e040-5782-46e6-b19e-bdbd0ad5adf9">400</ix:nonFraction>&#160;million Brazilian reais (<ix:nonFraction unitRef="eur" contextRef="i20d99577aa93481c84d3f68fbce305fd_I20221231" decimals="-6" name="ifrs-full:EstimatedFinancialEffectOfContingentLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDI1Mjg_10491193-f564-4a75-8f40-0cd6af389412">72</ix:nonFraction>&#160;million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">UK High Court claim by Phones 4 U Limited against various mobile network operators and other companies, among others, Telef&#243;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In late 2018, Phones 4U Limited (in administration) (&#8220;P4U&#8221;) commenced a claim in the English High Court in London against various mobile network operators: Everything Everywhere, Deutsche Telekom, Orange, Vodafone, Telef&#243;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited (together the &#8220;Defendants&#8221;).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U carried on a business of selling mobile phones and connections to the public, such connections being supplied by mobile network operators including the Defendants.  In 2013 and 2014, the Defendants declined to extend and / or terminated their contracts to supply connections to P4U. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U went into administration in September 2014. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U alleges that the Defendants ceased to supply connections because they had colluded between themselves in contravention of the United Kingdom and the European Union competition laws and asserts that it has a basis to claim damages for breach of competition law by all the Defendants. The Defendants deny all P4U&#8217;s allegations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The claim commenced on December 18, 2018 by P4U. The Defendants filed their initial Defences in the course of April and May 2019, with P4U filing replies on October 18, 2019. The first case management conference took place on March 2, 2020. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The trial was held between May and July 2022. The parties are awaiting the issuance of the sentence.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b) Other proceedings</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Telef&#243;nica 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.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-143</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ibb21f042c6db4c518ce59da005d020bd" continuedAt="i4f9f5417869143919b930f34b30702d8"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Commitments</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement related to the Sale of Customer Relationship Management (&#8220;CRM&#8221;) Business, Atento </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the sale agreement of Atento by Telef&#243;nica, announced on October 12, 2012, and ratified on December 12, 2012, both companies signed a Master Service Agreement which regulates Atento&#8217;s relationship with the Telef&#243;nica Group as a service provider for a period of nine years and which has been amended on May 16, 2014, November 8, 2016, May 11, 2018, November 28, 2019 and February 4, 2022. The term of the agreement was extended for Spain and Brazil in November 2016, for two additional years until the end of 2023, and for Latin America in February 2022, for one additional year until the end of 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By virtue of this agreement, Atento became Telef&#243;nica&#8217;s preferred Contact Center and Customer Relationship Management (&#8220;CRM&#8221;) 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 Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s business margin to the final calculation.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s sales to the Telef&#243;nica Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Master Agreement sets forth a reciprocal arrangement, whereby Atento assumes similar commitments to subscribe certain telecommunications services from Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investment Framework Agreement between the shareholders of Colombia Telecomunicaciones, S.A. ESP BIC - Sale of shares</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Framework Investment Agreement entered into between the shareholders of Colombia Telecomunicaciones, S.A. ESP BIC (a) if Telef&#243;nica decides to dispose or transfer of all or part of its shareholding in Colombia Telecomunicaciones, S.A. ESP BIC to third parties, Telef&#243;nica 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 BIC held by the Colombian Government (that amounts to  <ix:nonFraction unitRef="number" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="3" name="tef:InvestmentRepurchaseAgreementPaymentObligationTermsProportionOfMaximumCapitalInvestmentsExceedingRevenue" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzIyNzI0_6ff96460-bcad-4b49-b313-84dcf0fccf6e">32.5</ix:nonFraction>% of the share capital) at the same price and under the same terms and conditions negotiated with Telef&#243;nica and through the procedure established by Law 226 of 1995 for the disposal of shares held by public entities and, (b) if the Colombian Government transfer its shares in Colombia Telecomunicaciones, S.A. ESP BIC 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the sale of the shares of Telef&#243;nica Gesti&#243;n de Servicios Compartidos Espa&#241;a, S.A.U., Telef&#243;nica Gesti&#243;n de Servicios Compartidos Argentina, S.A. and T-Gestiona Servicios Contables y Capital Humano, S.A.C.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 1, 2016, a share purchase agreement between, on one hand, Telef&#243;nica, S.A., Telef&#243;nica Servicios Globales, S.L.U. and Telef&#243;nica Gesti&#243;n de Servicios Compartidos Per&#250;, S.A.C. (as sellers), and, on the other hand, IBM Global Services Espa&#241;a, S.A., IBM del Per&#250;, S.A.C., IBM Canada Limited and IBM Americas Holding, LLC (as purchasers) for the sale of the companies Telef&#243;nica Gesti&#243;n de Servicios Compartidos Espa&#241;a, S.A.U., Telef&#243;nica Gesti&#243;n de Servicios Compartidos Argentina, S.A. and T-Gestiona Servicios Contables y Capital Humano, S.A.C., for a total price of approximately <ix:nonFraction unitRef="eur" contextRef="i8ddfc080b6554c608b8dbc8fbfc98719_I20160301" decimals="-6" name="tef:SharePurchaseAgreementSettlementPaymentOrReceipt" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI0MjAx_789db3f4-ac62-44ef-b544-edec3e58e291">22</ix:nonFraction> million euros, was ratified before Notary Public. This share purchase agreement was subscribed on December 31, 2015.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-144</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i4f9f5417869143919b930f34b30702d8" continuedAt="i6f1dfe628d264461a2debe3807d74724"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the aforementioned share purchase agreement and in connection with the latter transaction, also, on December 31, 2015, Telef&#243;nica subscribed a master services agreement with IBM for the outsourcing of economic-financial and HR activities and functions to be provided to the Telef&#243;nica Group during a period of ten years, for a total amount of approximately <ix:nonFraction unitRef="eur" contextRef="i568959c34d964a91bc9eb84b9e772cd9_I20151231" decimals="-6" name="tef:ServicesAgreementAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI0Njg4_773c4583-e101-401b-9eab-71f551ffff5a">450</ix:nonFraction> million euros. Most of the Telef&#243;nica Group&#8217;s subsidiary companies have already adhered to that master services agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 31, 2021 and March 31, 2022 the master services agreement with IBM for the outsourcing of economic-financial and HR activities and functions to be provided to the Telef&#243;nica Group was amended. By virtue of these amendments the term may be extended for those adhered companies that decide to extend their services beyond the initial term.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on July 29, 2022 a new amendment was executed by virtue of which the term may be extended for those adhered companies in Latinoamerica that decide to extend some of their services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Commitments derived from the agreements reached for the acquisition of football (soccer) related rights between Telef&#243;nica (through its affiliate Telef&#243;nica Audiovisual Digital, S.L.U.) and LaLiga, UEFA and RFEF </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 25, 2018, Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award was granted for a total amount of <ix:nonFraction unitRef="eur" contextRef="i2a880362452c4f6d91431b5c68bc104b_I20180625" decimals="-6" name="tef:CostofAwardforBroadcastingRights" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI1ODI1_6fd73356-77d6-4c56-ad43-60bac4a9cb97">2,940</ix:nonFraction> million euros, at an identical price of <ix:nonFraction unitRef="eur" contextRef="i2a880362452c4f6d91431b5c68bc104b_I20180625" decimals="-6" name="tef:CostofAwardforBroadcastingRightsperSeason" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI1ODY4_4ca700e1-2bc6-4175-8547-4ea74429d9e6">980</ix:nonFraction> million euros for each of the three seasons, which represents a slight decrease compared to the last season of the previous cycle. Telef&#243;nica, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2018, Telef&#243;nica 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 <ix:nonFraction unitRef="eur" contextRef="idea6c5d824074b4f92a0779763b7840a_I20181221" decimals="-6" name="tef:CostofAwardforBroadcastingRights" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI2NzQ4_2e099293-3ca8-4e67-9cc4-bf11fe35b06b">105</ix:nonFraction> million euros (i.e., <ix:nonFraction unitRef="eur" contextRef="idea6c5d824074b4f92a0779763b7840a_I20181221" decimals="-6" name="tef:CostofAwardforBroadcastingRightsperSeason" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI2Nzcy_703d4623-666a-4441-950e-28f9e130b900">35</ix:nonFraction> million euros for each of the <ix:nonFraction unitRef="season" contextRef="i91074b33a2df4b11b6287a0db586b13d_D20181221-20181221" decimals="0" name="tef:NumberOfSeason" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjU4MjI3_9c02b285-fc26-4cce-bf05-4cac08938d00">three</ix:nonFraction> seasons).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2019 the definitive agreement on such broadcasting rights (package 6) was signed. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 2, 2020 Telef&#243;nica 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, after the expiration of the agreement with Mediapro of June 28, 2018 for previous cycle 2018/2019 to 2020/2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreement guarantees Telef&#243;nica all media rights with respect to the main European football competitions for all its customers, both residential and horecas (hotels, restaurants, cafes, etc.).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The direct acquisition from UEFA of this "premium" content will also allow Telef&#243;nica 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The total award price for all competitions amounted to <ix:nonFraction unitRef="eur" contextRef="i9d28a899c5e145d1b4bb9d8d721b9052_D20200702-20200702" decimals="-6" name="tef:BroadcastingAwardPrice" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3OTIw_6e9d198b-7438-43b3-ba98-9c427b162b68">975</ix:nonFraction> million euros (i.e. <ix:nonFraction unitRef="eur" contextRef="i9d28a899c5e145d1b4bb9d8d721b9052_D20200702-20200702" decimals="-6" name="tef:BroadcastingAwardPricePerSeason" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3OTQz_a0ad2571-2834-4441-a343-f2278ece4c7b">325</ix:nonFraction> million euros for each of the seasons 2021/22, 2022/23 and 2023/2024) which is less than the license fees paid for the previous cycle and without any year-to-year increase.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 13, 2021, Telef&#243;nica was provisionally awarded the exclusive broadcasting rights of five matches per matchday of the Campeonato Nacional de Liga de Primera Divisi&#243;n (&#8220;LaLiga&#8221;), for pay television in the residential market, in Spain. Telef&#243;nica received the first pick in <ix:nonFraction unitRef="matchday" contextRef="i4afcef2d8353462dab066a4b271ec74b_D20211213-20211213" decimals="INF" name="tef:NumberOfMatchDayFirstPicksEachSeason" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI4NDAz_437fb624-3ddf-4da1-99ed-b8a5818527f6">18</ix:nonFraction> matchdays of each season and second pick in <ix:nonFraction unitRef="matchday" contextRef="i4afcef2d8353462dab066a4b271ec74b_D20211213-20211213" decimals="INF" name="tef:NumberOfMatchDaySecondPickEachSeason" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI4NDUw_e5fa59f4-dc25-4b21-a347-95a5894a15b8">17</ix:nonFraction> matchdays, including "El Cl&#225;sico" of the second round (Option D bis, Lot D.1 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, Telef&#243;nica was awarded the exclusive broadcasting rights of <ix:nonFraction unitRef="matchday" contextRef="i4afcef2d8353462dab066a4b271ec74b_D20211213-20211213" decimals="INF" name="tef:NumberOfExclusiveRights" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI4NjEx_a66f9634-f02b-4228-ba19-4c84ff192a12">three</ix:nonFraction> matchdays, which contain <ix:nonFraction unitRef="match" contextRef="i4afcef2d8353462dab066a4b271ec74b_D20211213-20211213" decimals="INF" name="tef:NumberOfMatches" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI4NjM5_e0c7e92b-5d2e-485e-805a-224b1ed94744">ten</ix:nonFraction> matches each matchday, including matches of Real Madrid C.F., F.C. Barcelona and Club Atl&#233;tico de Madrid against the <ix:nonFraction unitRef="topteam" contextRef="i4afcef2d8353462dab066a4b271ec74b_D20211213-20211213" decimals="INF" name="tef:NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI4NzU5_dd0112a8-1b1c-4ed6-a476-79b5b225d738">six</ix:nonFraction> first classified of the previous season; and Valencia C.F., Athletic Club de Bilbao or Real Betis Balompi&#233;, if they were not among the aforementioned first classified (Option D bis, Lot D.3 bis).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-145</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i6f1dfe628d264461a2debe3807d74724" continuedAt="i28276d2e74304917836cc7a61b2d98a1"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award includes the cycle 2022/2023 to 2026/2027 although the 2025/2026 and 2026/2027 seasons are subject to the CNMC lifting or modifying the resolution that limits the maximum duration of the contracts entered into by Telef&#243;nica for the acquisition of sports rights (Expte. VC/0612/14).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award has been made at a price of <ix:nonFraction unitRef="eur" contextRef="i4afcef2d8353462dab066a4b271ec74b_D20211213-20211213" decimals="-6" name="tef:BroadcastingAwardPricePerSeason" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI5Mjg4_a22c98d9-1d73-413e-ad32-0dee35ceb1b8">520</ix:nonFraction>&#160;million euros for each of the seasons. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award was subject to the execution of an agreement between Telef&#243;nica and LaLiga with the remaining terms and requirements established in the LaLiga tender, which was signed on January 19, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 28, 2022, Telef&#243;nica entered into an agreement with the company DAZN for the distribution of the so-called DAZN LaLiga Package. Such package includes the remaining <ix:nonFraction unitRef="match" contextRef="ie35a904d47f44c0b969d314da54d611b_D20220328-20220328" decimals="INF" name="tef:NumberOfMatches" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE2NDI2MTg3_4444d071-50a7-4341-b232-0732d2876303">five</ix:nonFraction> football matches per match-weekend of the Spanish First Division Football Championship, in <ix:nonFraction unitRef="match-weekend" contextRef="ie35a904d47f44c0b969d314da54d611b_D20220328-20220328" decimals="INF" name="tef:NumberOfMatchWeekendsPerSeasonIncludedInContract" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjU2MDM0_6274a794-89d6-4975-8268-4dec3432ea78">35</ix:nonFraction> out of <ix:nonFraction unitRef="match-weekend" contextRef="ie35a904d47f44c0b969d314da54d611b_D20220328-20220328" decimals="INF" name="tef:NumberOfMatchWeekendsPerSeasonTotal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjU2MDM4_0ef3a78e-5b5d-4dfd-af7e-0a5bc546771e">38</ix:nonFraction> match-weekends for exploitation on pay television for residential subscribers in Spain (Option D bis, Package D.2 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This is a non-exclusive agreement for <ix:nonFraction unitRef="season" contextRef="ie35a904d47f44c0b969d314da54d611b_D20220328-20220328" decimals="INF" name="tef:NumberOfSeason" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjU2MDMx_8cff333e-73fe-4cea-94d0-6788011f901b">five</ix:nonFraction> seasons, from 2022/2023 to 2026/2027. The agreed value amounts <ix:nonFraction unitRef="eur" contextRef="ie35a904d47f44c0b969d314da54d611b_D20220328-20220328" decimals="-6" name="tef:BroadcastingAwardPricePerSeason" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNTc5NDMx_400d3e6a-6516-46f4-b9e7-dc9413dd69c8">280</ix:nonFraction>&#160;million euros for each of the seasons.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on July 29, 2022, Telef&#243;nica signed a new contract with LaLiga for the non-exclusive broadcasting of the channel that broadcasts matches of Second Division of National Football Championship League for seasons 2022/2023, 2023/2024 and 2024/2025, with Telef&#243;nica&#8217;s unilateral option to extend for two additional seasons, with a variable cost that amounts to approximately <ix:nonFraction unitRef="eur" contextRef="iabd6ce2772a84ff98a81d3b28a69d986_D20220629-20220629" decimals="-6" name="tef:BroadcastingAwardPricePerSeason" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjk3ODM_fc4d50ad-3e9b-4647-ab3a-821c717c45fc">16</ix:nonFraction>&#160;million euros per season.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Similarly, on August 4, 2022, a contract was formalized with LaLiga for the non-exclusive broadcast of the LaLiga TV Bar Channel for non-residential subscribers for the 2022/2023 season with a minimum guarantee of <ix:nonFraction unitRef="eur" contextRef="iec0db6e2a74049d490e00abfbbd20492_D20220804-20220804" decimals="-6" name="tef:BroadcastingAwardPricePerSeason" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNTc5NDQ2_310787bd-7f97-49f4-bc4e-6e8743ffcf0d">29</ix:nonFraction> million euros, being the final price variable.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2, 2022, Telefonica was also awarded by Real Federacion Espa&#241;ola de f&#250;tbol (RFEF) exclusive pay television rights of Copa del Rey Competiton and Supercopa de Espa&#241;a for seasons 2022/2023, 2023/2024 and 2024/2025. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Wholesale Access Services Agreement with AT&amp;T Mexico</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 21, 2019, Pegaso PCS, S.A. de C.V. (&#8220;Telef&#243;nica M&#233;xico&#8221;) and AT&amp;T Comunicaciones Digitales, S. de R.L. de C.V. (&#8220;AT&amp;T Mexico&#8221;) entered into a Wholesale Access Services Agreement (&#8220;Wholesale Agreement&#8221;), under which AT&amp;T Mexico agreed to provide wholesale wireless access to Telef&#243;nica M&#233;xico on 3G, 4G and any other future technology available in Mexico.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Wholesale Agreement has a minimum duration of <ix:nonNumeric contextRef="i2a7b9d2cba084dfabc097858dbafb578_D20191121-20191121" name="tef:WholesaleAccessServicesAgreementTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI5OTg2_05969fbf-d7a9-443d-b96a-e0da6f66745c">eight years</ix:nonNumeric>, renewable for additional consecutive periods of <ix:nonNumeric contextRef="i2a7b9d2cba084dfabc097858dbafb578_D20191121-20191121" name="tef:WholesaleAccessServicesAgreementRenewalPeriodAfterTermEndTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMwMDM4_133475fc-2bed-48c9-9f40-543f88183524">three years</ix:nonNumeric>. Such Wholesale Agreement establishes a gradual migration of Telef&#243;nica M&#233;xico&#8217;s traffic to AT&amp;T Mexico's access network over the first three years of the agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As set forth in the Wholesale Agreement such migration was completed during the first half of 2022. As a result, Telef&#243;nica M&#233;xico&#8217;s wireless access infrastructure was turned off and Telef&#243;nica M&#233;xico no longer uses the licensed spectrum that it used in the past to operate its network. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement to share network infrastructure between Telef&#244;nica Brasil (VIVO) and TIM. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 19, 2019 Telef&#244;nica Brasil S.A. and TIM S.A. executed two agreements for the share of 2G, 3G and 4G mobile network infrastructure. Both companies reiterate that they will preserve their commercial and customer management autonomy, regardless of any infrastructure sharing agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreements cover the following matters:</span></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">2G network Sharing: to be implemented in areas where both operators are present, so that the operator reminiscent will provide 2G mobile connectivity services to the Vivo and TIM customer base, resulting in the disconnection of overlapping sites and therefore achieving cost reduction and the optimization of spectrum use.</span></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">3G and 4G network Sharing: covering only cities with less than 30 thousand inhabitants with the aim of sharing 4G and 3G network in cities where only one operator is present (coverage expansion) and where both already provide services (network consolidation). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Both agreements were approved by the Telecommunications and Competition regulatory authorities ("Ag&#234;ncia Nacional de Telecomunica&#231;&#245;es&#8221; - ANATEL and &#8220;Conselho Administrativo de Defesa Econ&#243;mica&#8221; - CADE).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-146</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i28276d2e74304917836cc7a61b2d98a1" continuedAt="ie9441bb6613c44beb1581b8ffad13ab1"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Contracts for the provision of IT services with Nabiax </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2019 Telef&#243;nica, S.A. signed an agreement for the sale of a portfolio of <ix:nonFraction unitRef="center" contextRef="i8cb5aebd55b242e9992ccedf0307f500_I20191231" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMxNzg3_a1ce16ec-e0ec-4f2a-ae5c-06f83fb0647e">eleven</ix:nonFraction> data center businesses to a company (hereinafter "Nabiax") controlled by Asterion Industrial Partners SGEIC, S.A. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time as this sale, agreements were entered into with Nabiax to provide housing services to the Telef&#243;nica Group, allowing Telef&#243;nica to continue providing housing services to its customers, in accordance with its previous commitments.&#160;Such service provision agreements have an initial term of <ix:nonNumeric contextRef="i2d0352ad39ac45caa9cb5002cf3e3e46_D20190101-20191231" name="tef:HousingServicesProvisionAgreementTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyMjEw_70bb9c54-0435-46cc-be98-fd69c9ac0677">ten years</ix:nonNumeric> and include minimum consumption commitments in terms of capacity. These commitments are consistent with the Group's expected consumption volumes, while prices are subject to review mechanisms based on inflation and market reality. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2021, Asterion Industrial Partners SGEIC, S.A. and Telef&#243;nica Infra (T. Infra), the infrastructure unit of the Telef&#243;nica Group, reached an agreement for the contribution to Nabiax of <ix:nonFraction unitRef="center" contextRef="i8528a8e5721244658a77402696025d7d_I20210507" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyNjQx_e34be48f-20f3-461b-9b8b-757f1e23c4c4">four</ix:nonFraction> additional data centers owned by the Telef&#243;nica Group (<ix:nonFraction unitRef="center" contextRef="i77e48b3ba10a4bbba4ba9481e4e7edc9_I20210507" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyNjk5_545a5e28-5277-454c-815e-568cbb37354b">two</ix:nonFraction> of them located in Spain and <ix:nonFraction unitRef="center" contextRef="i7ab97df30c1b43bdb622e944aea18de3_I20210507" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyNzMx_276be13f-71f1-4e31-99cd-392d26c7d4b3">two</ix:nonFraction> in Chile). In exchange for the contribution of these <ix:nonFraction unitRef="center" contextRef="i8528a8e5721244658a77402696025d7d_I20210507" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyNzg3_b3c0aaea-8bdf-442f-8345-72f485b397b5">four</ix:nonFraction> data centers, T. Infra will receive a <ix:nonFraction unitRef="number" contextRef="ibc18b6f3ce4f4350b05746dc8bab2929_D20210507-20210507" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyODI4_224d10ee-663a-4045-98f6-f90d875f444b">20</ix:nonFraction>% equity stake in Nabiax. Once the relevant authorizations and other conditions precedent to the contribution of the <ix:nonFraction unitRef="center" contextRef="ia594429cfe89467298aa1012a970529b_I20210721" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyOTQ2_77b81781-a5e6-4e98-ae6c-02f75e1167b9">two</ix:nonFraction> data centers located in Spain were obtained, the partial closing of the transaction took place as of July 21, 2021, whereby Telef&#243;nica Group contributed those data centers to Nabiax, with T. Infra receiving in exchange a <ix:nonFraction unitRef="number" contextRef="id8bed72a60a74d37a1a14128d9aeb28c_I20210721" decimals="4" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMzMTcw_1839ea25-b0cc-49e8-b322-d0f6e4a7a8fe">13.94</ix:nonFraction>% stake in Nabiax at this stage. The agreement was complemented by the signing of a contract for the provision to Telef&#243;nica of housing services from those <ix:nonFraction unitRef="center" contextRef="ia594429cfe89467298aa1012a970529b_I20210721" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMzMzI3_9c19f66c-c664-4b25-bff2-ff0690afb0e6">two</ix:nonFraction> data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period of <ix:nonNumeric contextRef="i1efb48475ea94b7f9e18657353102b5c_D20210721-20210721" name="tef:HousingServicesProvisionAgreementTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMzNDY0_fe733454-b3d9-4745-94cd-896d9af53002">ten years</ix:nonNumeric>.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the conditions related to the contribution of the <ix:nonFraction unitRef="center" contextRef="i9775932a681140678eb2d4fe2a3d4a1d_I20220524" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMzNTIz_c43fef6b-b809-478c-bd11-9927599848b7">two</ix:nonFraction> data centers located in Chile were fulfilled, on May 24, 2022, the complete closing of the transaction took place, and T. Infra reached a <ix:nonFraction unitRef="number" contextRef="i7637471d49b24e1faa72426fe18e9d40_D20220524-20220524" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInAssociate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMzNjQ2_2030025c-3ce3-45b4-9519-453ba90170d3">20</ix:nonFraction>% stake in Nabiax (see Note 10). The agreement was complemented by the signing of a contract for the provision to Telef&#243;nica of housing services from those <ix:nonFraction unitRef="center" contextRef="i9775932a681140678eb2d4fe2a3d4a1d_I20220524" decimals="INF" name="tef:NumberOfDataCentersSold" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMzODEw_e06a3cfb-7e12-4ca8-9e3b-94d5c22f8610">two</ix:nonFraction> data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period ending in 2031.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">50:50 joint venture with Liberty Global for the combination of both groups' businesses in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2020, Telef&#243;nica agreed to enter into a joint venture with Liberty Global plc ("Liberty Global") pursuant to a contribution agreement (as amended, the "Contribution Agreement") between Telef&#243;nica, Telefonica O2 Holdings Limited, Liberty Global, Liberty Global Europe 2 Limited and a newly formed entity of which, after closing, each of Telef&#243;nica and Liberty Global would hold <ix:nonFraction unitRef="number" contextRef="i0ef20cf24bc74719a65f5993becbdaf4_D20200507-20200507" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM0MzIz_64934810-e840-4eaf-89e3-4e70b888cbd8"><ix:nonFraction unitRef="number" contextRef="iab28d64ba27441e6a6fcda3dc3dfff95_D20200507-20200507" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM0MzIz_f96e1fd8-92b7-474f-816f-166e2b21daed">50</ix:nonFraction></ix:nonFraction>% of its share capital named VMED O2 UK Limited.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After having obtained the clearance from the Competition and Market Authority (the antitrust authority in the UK) to complete this transaction and having fulfilled all the other pre-closing conditions included in the Contribution Agreement, the transaction was completed on</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">June 1, 2021. From such date, Telef&#243;nica and Liberty Global each hold an equal number of shares in VMED O2 UK Limited; after: (i) Telef&#243;nica having contributed to VMED O2 UK Limited its O2 mobile business in the United Kingdom and (ii) Liberty Global having contributed its Virgin Media business in the United Kingdom to VMED O2 UK Limited.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The corporate governance of VMED O2 UK Limited is regulated by a shareholders' agreement, which was entered into by the parties to the Contribution Agreement on June 1, 2021 (the "Shareholders' Agreement").</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the date of closing of the transaction, Telef&#243;nica, Liberty Global, and certain companies belonging to each shareholder&#8217;s corporate group entered into certain services, reverse services, licensing and data protection agreements with VMED O2 UK Limited and certain entities belonging to the VMED O2 UK Limited group. In particular, Telef&#243;nica and Liberty Global agreed that each shareholder&#8217;s group would provide certain services, either on a transitional or ongoing basis to VMED O2 UK Limited and its group and that, for a limited period of time, VMED O2 UK Limited would also provide certain reverse services to specific companies belonging to the corporate group of each of its shareholders.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the terms of the above referred services agreements, the transitional services that are to be provided by the Telef&#243;nica Group to VMED O2 UK Limited shall be provided for terms ranging from <ix:nonNumeric contextRef="i4ffba17ceee5415d87c5e450bfaf5606_D20210601-20211231" name="tef:JointVentureServiceAgreementTransitionalServicesTerm" format="ixt-sec:durmonth" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM3NTUx_a7a4703e-2c8e-42f7-81f4-fdf743023e2d">7</ix:nonNumeric> to <ix:nonNumeric contextRef="ia812fa2bb2da4f88907badb080a8f0ba_D20210601-20211231" name="tef:JointVentureServiceAgreementTransitionalServicesTerm" format="ixt-sec:durmonth" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM3NTU3_59d8f99b-f171-47a1-8117-4690811b48c9">24</ix:nonNumeric> months while the ongoing services that are to be provided by the Telef&#243;nica Group to VMED O2 UK Limited will be provided for periods of <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM3Njk4_fe18cb56-1584-4b8a-8be8-8ebf18a8b142">two</span> to <ix:nonNumeric contextRef="ia812fa2bb2da4f88907badb080a8f0ba_D20210601-20211231" name="tef:JointVentureServiceAgreementOngoingServicesTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU3NzI0MzYwNjQ2NjQw_c72ef4d6-12d5-4b3c-93fc-ccc44aa1bc72">six years</ix:nonNumeric>, depending on the service. The services provided by the Telefonica Group to VMED O2 UK Limited consist primarily of technology and telecommunication services that will be used by or will otherwise benefit VMED O2 UK Limited. In addition to providing VMED O2 UK Limited with such services, the mobile operators of the Telefonica Group and VMED O2 UK Limited will maintain their roaming commercial relationships in order to reciprocally provide roaming services for their respective customers. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-147</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie9441bb6613c44beb1581b8ffad13ab1" continuedAt="i0f6211bcbc3a4bb8afe8547f54154a4f"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, as of closing of the transaction Telef&#243;nica granted certain trademark license agreements to VMED O2 UK Limited (the &#8220;VMED O2 UK Limited Trademark Licenses&#8221;). Pursuant to the VMED O2 UK Limited Trademark Licenses, Telefonica Group licensed the use of Telef&#243;nica and O2 brand rights to VMED O2 UK Limited.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 28, 2021, Telef&#243;nica Brasil executed the Purchase and Sale Agreement of Shares and Other Covenants (the &#8220;Oi Agreement&#8221;), by and among Oi M&#243;vel SA - In Judicial Recovery, as "Seller", Telef&#243;nica Brasil, Tim S.A. and Claro S.A., as &#8220;Buyers&#8221;, and Oi S.A. - In Judicial Recovery and Telemar Norte Leste S.A. - In Judicial Recovery, as intervening parties and guarantors of the seller&#8217;s obligations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the purchase agreement for the acquisition of the assets of Oi Group's mobile business operations  (the "UPI Mobile Assets") took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), a special purpose company, to which the mobile assets of Oi Group assigned to Telef&#243;nica Brasil had been contributed under the segregation plan stated in the Oi Agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount of <ix:nonFraction unitRef="brl" contextRef="i9352392f842d48fbaf068cb25dd6fa95_D20220420-20220420" decimals="-6" name="tef:CashTransferredEstimation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3MDg_70bd37e2-ea5f-4d90-aff5-7451519187c7">5,373</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="i9352392f842d48fbaf068cb25dd6fa95_D20220420-20220420" decimals="-6" name="tef:CashTransferredEstimation" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3MDE_7358e18c-e63a-480b-b2f0-e6aa206c1cda">1,063</ix:nonFraction> million euros at the exchange rate at such date), having paid, on such day, the amount of <ix:nonFraction unitRef="brl" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:CashTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA2OTQ_561505d6-1a5d-421f-a49f-7ce1a1a7e50d">4,885</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="ifrs-full:CashTransferred" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA2ODk_a259d0d6-b934-4afa-8fd3-049fab8cd2e0">972</ix:nonFraction> million euros). The remaining amount, equivalent to <ix:nonFraction unitRef="number" contextRef="i9352392f842d48fbaf068cb25dd6fa95_D20220420-20220420" decimals="2" name="tef:IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3MTU_88096fa5-c169-42a2-8cc6-5e64808b1cc2">10</ix:nonFraction>% of the payment made on that date, was withheld and its release is currently subject to certain ongoing discussions regarding price adjustments, as provided for in the Oi Agreement. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, on such date, Telef&#243;nica Brasil: (i) committed to an additional payment of <ix:nonFraction unitRef="brl" contextRef="ie0cfcc0cd7ed449fa3a2e9c22190cca6_D20220420-20220420" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3MjQ_d5a8002a-ff61-4ef5-bcea-10bb0bf0fb11">110</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="ie0cfcc0cd7ed449fa3a2e9c22190cca6_D20220420-20220420" decimals="-6" name="ifrs-full:IncreaseThroughBusinessCombinationsContractLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3Mjk_69bc801b-2a5b-4826-a4b0-a491b6e0751c">23</ix:nonFraction> million euros) of which <ix:nonFraction unitRef="brl" contextRef="ie0cfcc0cd7ed449fa3a2e9c22190cca6_D20220420-20220420" decimals="-6" name="tef:CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3MjA_ead0d051-9641-417e-9ee8-e71bb8267b4b">40</ix:nonFraction> million Brazilian reais were paid at that date (approximately <ix:nonFraction unitRef="eur" contextRef="ie0cfcc0cd7ed449fa3a2e9c22190cca6_D20220420-20220420" decimals="-6" name="tef:CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3Mzc_e23d4869-aa6b-41c4-b657-e789b14ddcba">8</ix:nonFraction> million euros), subject to the fulfilment of certain targets by Oi; (ii) made a payment of approximately <ix:nonFraction unitRef="brl" contextRef="i845efc216ddb481ba4dbaf659dc09937_D20220420-20220420" decimals="-6" name="tef:PaymentTransitionServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3NDA_9e770df4-45c1-49da-9e01-d16cd9399a89">148</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="i845efc216ddb481ba4dbaf659dc09937_D20220420-20220420" decimals="-6" name="tef:PaymentTransitionServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3MzM_67e63f74-bc50-4ca6-abde-b3472b7b5161">29</ix:nonFraction> million euros) for certain transition services to be provided by Oi to Garliava; and (iii) entered into a take-or-pay data transmission capacity agreement, with a net present value of <ix:nonFraction unitRef="brl" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="tef:DataTransmissionAgreement" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3NDU_93f7fe28-f634-430e-87a8-a6e4828b03ea">179</ix:nonFraction> million Brazilian reais (approximately <ix:nonFraction unitRef="eur" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-6" name="tef:DataTransmissionAgreement" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3NTA_0bf20dcb-6043-4552-8adf-1f65f4e89267">35</ix:nonFraction> million euros), to be paid in monthly installments during a period of <ix:nonNumeric contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" name="tef:DataTransmissionAgreementTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3NTQ_ed74a959-c7be-4f35-acaa-71fe3c7dc695">10</ix:nonNumeric> years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The mobile assets of Oi Group finally assigned to Telef&#243;nica Brasil were the following:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt">Customers: approximately <ix:nonFraction unitRef="client" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-5" name="tef:NumberOfClientsRecognisedAsOfAcquisitionDate" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3NTY_3a6cf3f4-bd1e-4fb8-b167-96d79ddba24b">12.5</ix:nonFraction> million (equivalent to <ix:nonFraction unitRef="number" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="2" name="tef:NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3NjI_0e6cbbd9-0451-4378-9253-31a9b2ea4bdb">30</ix:nonFraction>% of the total customer base of the mobile assets of Oi Group) &#8211; according to ANATEL&#8217;s February 2022 data;</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt">Spectrum: 43MHz as national population-weighted average (<ix:nonFraction unitRef="number" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="2" name="tef:SpectrumRecognisedAsOfAcquisitionDatePercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3Njk_82f61758-044b-40be-898c-092360520070">46</ix:nonFraction>% of the radiofrequency of the mobile assets of Oi Group); and</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.23pt">Infrastructure: contracts for the use of approximately <ix:nonFraction unitRef="site" contextRef="i9b76a99cb517463f8d5e0103a04840c0_I20220420" decimals="-2" name="tef:InfrastructureContractsRecognisedAsOfAcquisitionDate" format="ixt:num-dot-decimal" scale="3" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkxNjA3NzQ_01f0d3ae-2456-417e-9b6f-deb305b7d680">2.7</ix:nonFraction> thousand sites of mobile access (corresponding to <ix:nonFraction unitRef="number" contextRef="i3ffe7b73176a4a3fa47dea0d7cf9a74b_I20220420" decimals="3" name="tef:PercentageOfSites" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU3NzI0MzYwNjQ2NDQ5_11abd6a0-b1f4-425d-9642-514e93d682c8">19</ix:nonFraction>% of the sites of the mobile assets of Oi Group).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All commitments assumed were duly submitted to ANATEL and CADE during 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 3, 2022, Telef&#243;nica Brasil initiated an arbitration procedure against Oi S.A. &#8211; In Judicial Recovery (&#8220;Seller&#8221;), pursuant to the terms of the Oi Agreement, alleging manifest breach by Seller of certain terms of the Oi Agreement, after the exchange of notices about the post-closing price adjustment between Buyers and Seller, upon the competent request of arbitration filed with the Market Arbitration Chamber. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2023, Telef&#243;nica Brasil's Extraordinary Shareholders' Meeting was held and Garliava&#8217;s merger into Telef&#243;nica Brasil was approved, subject to prior approval from ANATEL and the conclusion of certain systemic operations. Once such conditions are fulfilled, Telef&#243;nica Brasil&#8217;s Board of Directors will convene a new meeting to verify the accomplishment of such conditions and to give effects to said merger.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investment Agreement with Allianz and Telef&#243;nica Germany</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 29, 2020, Telef&#243;nica Infra Germany GmbH (&#8220;TEF Infra Germany&#8221;, a subsidiary indirectly wholly-owned by Telef&#243;nica through Telef&#243;nica Infra, S.L.U.) entered into an investment agreement (and related contracts, including a partners&#8217; agreement which sets forth the principles of corporate governance of the joint venture) with several entities belonging to the Allianz Group ("Allianz") and Telef&#243;nica Germany 1. Beteiligungsgesellschaft mbH (a subsidiary wholly-owned by Telef&#243;nica Germany GmbH &amp; Co. OHG) (&#8220;TEF Germany&#8221;) for the creation of a joint venture to deploy Fiber-to-the-Home (FTTH) in Germany, pursuant to which TEF Infra Germany and TEF Germany conditionally agreed to invest up to <ix:nonFraction unitRef="eur" contextRef="i417b7d60b6c44986abb8da3041ec4034_I20201029" decimals="-6" name="tef:CommitmentToFundInvestment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1MDYz_a889d14c-05ca-4954-9b7c-3f7c62b59190">500</ix:nonFraction> million euros equity in total (<ix:nonFraction unitRef="eur" contextRef="i4898a9cae5a448b089636cd93a58ae42_I20201029" decimals="-6" name="tef:CommitmentToFundInvestment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1MDk3_3c4d6b33-5bda-465a-8ba7-c8aafd56b856">400</ix:nonFraction> million euros by TEF Infra Germany and </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-148</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i0f6211bcbc3a4bb8afe8547f54154a4f" continuedAt="icd77d0c5535d47d4b9e256d096f338af"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:nonFraction unitRef="eur" contextRef="ia1b11110d4bb4ca7a5080c340299088c_I20201029" decimals="-6" name="tef:CommitmentToFundInvestment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1MTM5_8b31ef8b-2f63-4eb5-9ea3-f0dc7cf51d99">100</ix:nonFraction> million euros by TEF Germany) and Allianz conditionally agreed to invest up to <ix:nonFraction unitRef="eur" contextRef="i925f652da2c94a22b5c653c4699633dc_I20201029" decimals="-6" name="tef:CommitmentToFundInvestment" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1MjIx_54d0f6f5-3098-462e-9dd3-35b238507abc">1,000</ix:nonFraction> million euros through different sources of funding over a <ix:nonNumeric contextRef="ibdab8d26604440abb9ac86d78589c9e7_D20201029-20201029" name="tef:CommitmentToFundInvestmentPeriod" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU3NzI0MzYwNjQ2NDUz_b39d9d38-e433-4c80-b053-7f8e61c43c1d">six year</ix:nonNumeric> period.&#160;&#160;&#160;&#160;</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The closing of the transaction and the acquisition of the joint control took place on December 18, 2020. The registration of Allianz and TEF Germany as limited partners of the joint venture in the German commercial registry occurred on January 21, 2021. After the closing of the transaction, the Allianz Group and the Telef&#243;nica Group each holds <ix:nonFraction unitRef="number" contextRef="i6a75f3f4f67a400894e1cb22df59a65a_D20210121-20210121" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1NjQ1_6f6e3a0c-5658-497d-a889-924b25d23cb2"><ix:nonFraction unitRef="number" contextRef="iff19ad4a2ae043e4ba8561ad1296997b_D20210121-20210121" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1NjQ1_c53fed62-8210-4774-b414-9a3614cb9be5">50</ix:nonFraction></ix:nonFraction>% in the joint venture under a co-control governance model. Telef&#243;nica Group&#8217;s ownership is held through TEF Infra Germany holding <ix:nonFraction unitRef="number" contextRef="i21288c3ca1144ae5b738a4167081fc61_D20210121-20210121" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1Nzc3_010eb1fd-2f44-4c24-b643-64f3be1d4ab9">40</ix:nonFraction>% and TEF Germany holding a <ix:nonFraction unitRef="number" contextRef="i4a3eaefd088a4810a30867c89327d5e4_D20210121-20210121" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ1ODA2_7e89cd1f-42e5-4b72-ad67-c6f2057b3252">10</ix:nonFraction>% stake.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">New long-term master services agreement in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 7, 2021, each of Telef&#243;nica U.K. and Vodafone U.K. entered into new Master Services Agreements with Cornerstone Telecommunications Infrastructure Limited (&#8220;CTIL&#8221;), their passive tower network infrastructure partnership which is <ix:nonFraction unitRef="number" contextRef="idd149d41f3f0481b9901b8fb2a0d1fd7_D20210107-20210107" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInJointVenture" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2MTE3_9a35b16a-e43a-445e-8b47-5ea4be1098ff">50</ix:nonFraction>:50 jointly owned and operated by the <ix:nonFraction unitRef="operator" contextRef="idd149d41f3f0481b9901b8fb2a0d1fd7_D20210107-20210107" decimals="2" name="tef:JointVentureNumberOfOperatorsWithControl" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2MTU3_4a1ad970-30b2-43f0-a230-97f32f47dca9">two</ix:nonFraction> operators. The new agreements came into effect on January 1, 2021, with initial terms of <ix:nonNumeric contextRef="idd149d41f3f0481b9901b8fb2a0d1fd7_D20210107-20210107" name="tef:MasterServicesAgreementInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2MjQ5_42a382d6-a26c-4213-8bf5-ad2e0b780fa4">8</ix:nonNumeric> years, with <ix:nonFraction unitRef="period" contextRef="idd149d41f3f0481b9901b8fb2a0d1fd7_D20210107-20210107" decimals="INF" name="tef:MasterServicesAgreementNumberOfAdditionalRenewalPeriods" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2MjU4_a1521f60-8f31-4a1c-af07-0431d8e6b372">three</ix:nonFraction> additional <ix:nonNumeric contextRef="idd149d41f3f0481b9901b8fb2a0d1fd7_D20210107-20210107" name="tef:MasterServicesAgreementRenewalPeriodTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNjk4_5a3e4c5b-4eaa-4da2-8b30-e53e6fb04429">8-year</ix:nonNumeric> renewal periods.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CTIL was formed in 2012 through the consolidation of both Telef&#243;nica U.K. and Vodafone U.K.&#8217;s existing basic network infrastructure, including towers and masts, which were transferred to the joint operation. CTIL currently operates c.<ix:nonFraction unitRef="macrosite" contextRef="i47dffa00c81f471c8753fcd82dfa2d29_D20220101-20221231" decimals="INF" name="tef:NumberOfMacroSitesUnderOperation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2NTMx_de099025-d476-4b36-8346-ffbd53df9c5e">14,200</ix:nonFraction> macro sites with a <ix:nonFraction unitRef="number" contextRef="i47dffa00c81f471c8753fcd82dfa2d29_D20220101-20221231" decimals="1" name="tef:TenancyRatioMacroSitesUnderOperation" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2NTUz_13ed514e-c032-493a-8cdc-e0540ae391f6">2.0</ix:nonFraction>x tenancy ratio (including active sharing) and c.<ix:nonFraction unitRef="microsite" contextRef="i47dffa00c81f471c8753fcd82dfa2d29_D20220101-20221231" decimals="INF" name="tef:NumberOfMicroSitesUnderOperation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2NjA0_f8706a5e-e11b-4099-8446-657c728a7937">1,400</ix:nonFraction> micro sites. CTIL also provides management services for the anchor tenants for a further c.<ix:nonFraction unitRef="thirdpartysite" contextRef="i47dffa00c81f471c8753fcd82dfa2d29_D20220101-20221231" decimals="INF" name="tef:NumberOfThirdPartySites" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ2Njk4_464e9eef-40b7-4d99-9a46-6a24dfc00e61">5,100</ix:nonFraction> third party sites where their active equipment is deployed. Telef&#243;nica's stake in CTIL is currently held through VMED O2 UK Limited (see Note 10), the joint venture between Telefonica and Liberty Global plc in the United Kingdom. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The new agreements do not materially impact existing network agreements and will continue to allow CTIL to primarily serve its shareholders as well as some third parties.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Transaction between Colombia Telecomunicaciones S.A. ESP BIC and Kohlberg Kravis Roberts (&#8220;KKR&#8221;)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 16, 2021, Colombia Telecomunicaciones S.A. ESP BIC and KKR entered into an agreement to sign the following contracts:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i) An assets purchase agreement for the fiber optic assets owned by Colombia Telecomunicaciones S.A. ESP BIC with a Colombian company controlled by KKR (InfraCo, SpA), in consideration for an initial payment of <ix:nonFraction unitRef="eur" contextRef="ic1ac690aa2fb48a3b6d967aeb96f6423_D20210716-20210716" decimals="-6" name="ifrs-full:ProceedsFromSalesOfInvestmentProperty" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ3NTI0_a4d836f0-09e3-4d18-984a-af45a3f7ca56">320</ix:nonFraction>&#160;million U.S. dollars, which may be subject to post-closing adjustments under usual conditions for this type of operation. As well as a subsequent payment, consisting of the possibility of receiving a higher consideration from its result in network deployment activities, for an amount of up to an additional <ix:nonFraction unitRef="eur" contextRef="ic1ac690aa2fb48a3b6d967aeb96f6423_D20210716-20210716" decimals="-6" name="tef:ProceedsFromSalesOfInvestmentPropertyExpectedAdditionalConsiderationToBeReceived" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ3ODI3_b7acd9cc-973a-4e00-a2f1-91fb75e2c553">100</ix:nonFraction>&#160;million U.S. dollars.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii) A contract through which Colombia Telecomunicaciones S.A. ESP BIC will acquire a <ix:nonFraction unitRef="number" contextRef="i5f4c8fde3c5648dd9e295401bd623ce1_I20220111" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ3OTMw_fd50cb7c-b5af-4735-91d3-5af9adf004a9">40</ix:nonFraction>% stake in a Spanish company controlled by KKR, which it holds the remaining <ix:nonFraction unitRef="number" contextRef="i659f41e02cc94455b7565e5fc580b83d_D20220111-20220111" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ4MDA4_dd939416-7d82-44e7-b5e5-576dcf823e0c">60</ix:nonFraction>%. The Colombia Telecomunicaciones S.A. ESP BIC&#180;s contribution would be a portion of the consideration received from assets purchase agreement for the fiber optic assets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii) Several commercial contracts between Colombia Telecomunicaciones S.A. ESP BIC and InfraCo, SpA for the provision of wholesale connectivity services by InfraCo, SpA to Colombia Telecomunicaciones S.A. ESP BIC, deployment of fiber optic network and other related services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The signing of the contracts of numerals (i) and (iii), as well as the execution of the aforementioned operations contracts, was subject to the respective contractual provisions and to the obtaining of the necessary regulatory authorizations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2022, after obtaining the necessary regulatory authorizations and meeting certain agreed conditions, the transaction was executed. Therefore, Colombia Telecomunicaciones S.A. ESP BIC executed the sale of fiber optic assets to Onnet Fibra Colombia S.A.S. (&#8220;Onnet&#8221;), a company with which it also entered into a series of commercial contracts by virtue of which (i) Onnet will provide wholesale connectivity services to Colombia Telecomunicaciones S.A. ESP BIC, and (ii) Colombia Telecomunicaciones S.A. ESP BIC will provide to Onnet fiber optic network deployment services and other related services. Simultaneously, Colombia Telecomunicaciones S.A. ESP BIC acquired shares equivalent to a <ix:nonFraction unitRef="number" contextRef="ic253c8f6516449129b9d04f78c7090b2_I20220111" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ5NDAz_0ed6e010-d7f9-4a6b-9764-213064f370be">40</ix:nonFraction>% in Alamo HoldCo S.L., a Spanish company that owns <ix:nonFraction unitRef="number" contextRef="i223f96fa485e4fafab45d0a9c9f5b102_D20220111-20220111" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQ5NDU2_c5c81124-8f94-4f10-a6f3-044cc1e3e260">100</ix:nonFraction>% of Onnet's shares (see Note 10).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-149</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="icd77d0c5535d47d4b9e256d096f338af" continuedAt="i583ffb8399ff4f75b1be44c0a5f28668"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the purchase of <ix:nonFraction unitRef="number" contextRef="ib9244408c32a46c194ab6c4fa3426f88_I20220201" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM2MDc_ed2ee9e8-8064-4309-a9d9-900fb6477ecd">40</ix:nonFraction>% of the share capital of Telxius Telecom, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2022, Telef&#243;nica&#8217;s subsidiary, Pontel Participaciones, S.L. (&#8220;Pontel&#8221;), a company which is held <ix:nonFraction unitRef="number" contextRef="i628c1f26a2f14866a1b45938390f5cf7_D20220201-20220201" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1Mzk_b97be5ca-e412-4e98-9af7-207f49fa061d">83.35</ix:nonFraction>% by Telef&#243;nica and <ix:nonFraction unitRef="number" contextRef="iaa78ceb352254d1ba1d7fda50f9dd66a_D20220201-20220201" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1NDc_027f3266-3b55-47d6-b6c9-b2796563a174">16.65</ix:nonFraction>% by Pontegadea Inversiones, S.L. (&#8220;Pontegadea&#8221;), reached an agreement with Taurus Bidco S.&#224; r.l. (&#8220;Taurus&#8221;, a company managed by KKR) for the purchase of  <ix:nonFraction unitRef="number" contextRef="ib9244408c32a46c194ab6c4fa3426f88_I20220201" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1NTU_1442489b-42a6-4343-811f-c3bd916218db">40</ix:nonFraction>% of the share capital of Telxius Telecom, S.A. (&#8220;Telxius&#8221;), held by Taurus, for an estimated amount of <ix:nonFraction unitRef="eur" contextRef="i9fad616ed27a4db8b0e34427e8396e49_D20220201-20220201" decimals="-5" name="ifrs-full:ConsiderationPaidReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1OTU_a9339da7-52dd-44c8-9646-858c20fde1f3">215.7</ix:nonFraction>&#160;million euros, being the referred price subject to, among others, adjustments derived from the sale of the towers business to American Tower. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 18, 2023, after obtaining the necessary regulatory and competition authorizations, the transaction was completed. (See Note 31).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the transaction, Pontel, which prior to the closing of the transaction held the remaining <ix:nonFraction unitRef="number" contextRef="i785565d0547f479d93e147bf4cc2ee49_D20230117-20230117" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1NjA_d8f51b7a-f659-4282-8c18-39aeb1baacf3">60</ix:nonFraction>% of the share capital of Telxius, has become the sole shareholder of this company. Pontegadea has increase its holding in Pontel to <ix:nonFraction unitRef="number" contextRef="ic8cacc394c1546758c6f9de8921aaf54_D20230118-20230118" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1NjU_9e6c9b00-c404-48fd-9b36-9d1fdfa1827a">30</ix:nonFraction>% and Telef&#243;nica holds a <ix:nonFraction unitRef="number" contextRef="i81adf3ba55794ecd98f5aefc6fb8e1d7_D20230118-20230118" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM2MDI_6e35ee94-d607-46ec-943c-5e076c51e038">70</ix:nonFraction>% stake. Thus, in terms of indirect holding in Telxius, Pontegadea has increased its holding from <ix:nonFraction unitRef="number" contextRef="ic5f6caefc5b9475c95df389dac4dedef_D20230117-20230117" decimals="4" name="tef:Indirectparticipationpercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1NzA_3fc84b30-f1cf-4ab3-ab88-173b48670c21">9.99</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i5ea560533c91401ea38e220c3ddfdb6f_D20230118-20230118" decimals="2" name="tef:Indirectparticipationpercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1Nzc_65d1440f-d481-4eb1-8ac6-fb168c69d56b">30</ix:nonFraction>% and Telef&#243;nica from <ix:nonFraction unitRef="number" contextRef="ie4eb41ac09624e3d93a5d8ebb11f8938_D20230117-20230117" decimals="4" name="tef:Indirectparticipationpercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1ODI_5711ef96-c8a1-4e6a-9b63-b00445affeb9">50.01</ix:nonFraction>% to <ix:nonFraction unitRef="number" contextRef="i85e655b086dc4dc7b79f580eeaf3fc42_D20230118-20230118" decimals="2" name="tef:Indirectparticipationpercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwOTk1MTE3NzM1OTA_c990d58d-7491-47dc-b03a-68e8243f564e">70</ix:nonFraction>%.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement reached between Telef&#243;nica Espa&#241;a Filiales, S.A.U. (&#8220;Telef&#243;nica Espa&#241;a Filiales&#8221;), T. Infra, Vauban and Cr&#233;dit Agricole Assurances for the establishment of Bluevia Fibra</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 25, 2022, Telef&#243;nica Espa&#241;a Filiales S.A.U, Telef&#243;nica Infra S.L.U. (T. Infra) and the consortium formed by Vauban Infrastructure Partners ("Vauban") and Cr&#233;dit Agricole Assurances ("CAA") reached an agreement for the establishment of a company, Bluevia Fibra, S.L. ("Bluevia"), whose corporate purpose is the deployment and commercialization of a fiber-to-the-home (FTTH) network mainly in rural areas in Spain. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the relevant regulatory authorizations were obtained, the closing of the transaction took place on December 20, 2022. After closing, the Telef&#243;nica Group holds <ix:nonFraction unitRef="number" contextRef="idc8c9b53ade04edc85e045866bc734e8_D20221220-20221220" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2MjA_0d997e4c-1957-4f5f-b392-dd10b76ce6e1">55</ix:nonFraction>% of the capital of Bluevia (<ix:nonFraction unitRef="number" contextRef="i68088064b333433897f4b92ff8597c32_D20221220-20221220" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2MjU_edd07725-5662-408f-992f-f31d2d61ae2b">30</ix:nonFraction>% through Telef&#243;nica Espa&#241;a Filiales and <ix:nonFraction unitRef="number" contextRef="i11083ef99528437db809b118a521039f_D20221220-20221220" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2MzA_c35b8d38-2a32-4821-a789-86433e5aaf33">25</ix:nonFraction>% through T. Infra), with Vauban/CAA holding the remaining <ix:nonFraction unitRef="number" contextRef="i621c7354ff5946f882cba2b456eae0c6_D20221220-20221220" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2Mzc_73fedd9e-4475-408b-8405-7e7a5c310053">45</ix:nonFraction>%. At closing, Bluevia purchased from Telef&#243;nica Espa&#241;a <ix:nonFraction unitRef="realestate" contextRef="i869051a89b1b49d2a597fe852da5f090_D20221220-20221220" decimals="-5" name="tef:PurchaseOfRealEstateUnits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDI1NDI_3078ce96-37dd-4794-8364-436d66f3ea38">3.9</ix:nonFraction>&#160;million already passed real estate units, and agreed to deploy <ix:nonFraction unitRef="realestate" contextRef="i869051a89b1b49d2a597fe852da5f090_D20221220-20221220" decimals="0" name="tef:NumberOfRealEstateUnitsToDeployInFuture" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjU4Mzc5_c2cbf050-95a1-40d3-9974-096a19e735ca">1.1</ix:nonFraction>&#160;million additional units over the next <ix:nonNumeric contextRef="i869051a89b1b49d2a597fe852da5f090_D20221220-20221220" name="tef:PeriodInWhichRealEstateUnitsWillBeDeployed" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjU4MjQ0_9ae40c66-67e0-43ba-8801-b69df1650525">two years</ix:nonNumeric>, reaching a total footprint of <ix:nonFraction unitRef="realestate" contextRef="i869051a89b1b49d2a597fe852da5f090_D20221220-20221220" decimals="-6" name="tef:ExpectedOwnershipOfRealEstateUnit" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2NTU_23b2046c-c51a-4f3f-9b74-7a45a2ff90a4">5</ix:nonFraction>&#160;million passed real estate units. The <ix:nonFraction unitRef="realestate" contextRef="i869051a89b1b49d2a597fe852da5f090_D20221220-20221220" decimals="-5" name="tef:PurchaseOfRealEstateUnits" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2NDI_9bf2662d-bbe9-4e00-8e06-125612aba955">3.9</ix:nonFraction>&#160;million already passed real estate units acquired by Bluevia represent <ix:nonFraction unitRef="number" contextRef="i869051a89b1b49d2a597fe852da5f090_D20221220-20221220" decimals="2" name="tef:PurchaseOfRealEstateUnitsToTotalNetworkPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE3Nzg_88d53dc0-5d91-42a4-b9c7-bae385866361">14</ix:nonFraction>% of Telef&#243;nica's FTTH network in Spain, with Telef&#243;nica Espa&#241;a retaining ownership of the remainder of the network. In addition, as part of the transaction, the Telef&#243;nica Group has entered into a series of service provision agreements with Bluevia which entail the mutual provision and receipt of services by/to Telefonica Group and Bluevia. As part of the transaction Telefonica Group has contributed equity funds to Bluevia in the amount of approximately <ix:nonFraction unitRef="eur" contextRef="i11083ef99528437db809b118a521039f_D20221220-20221220" decimals="-6" name="tef:EquityFundsContributed" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE3NTE_3d934436-7995-411e-a6a4-33d5e5748f90">1,247</ix:nonFraction>&#160;million euros and the Vauban/CAA consortium has acquired <ix:nonFraction unitRef="number" contextRef="i621c7354ff5946f882cba2b456eae0c6_D20221220-20221220" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE3NjY_29e8bdc8-c1e4-4514-9c87-9a256d8fb6a3">45</ix:nonFraction>% of Bluevia from Telef&#243;nica Espa&#241;a for <ix:nonFraction unitRef="eur" contextRef="i67327772e0814582b33896fab3870e04_I20221220" decimals="-6" name="ifrs-full:CashTransferred" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE3ODk_613cd1b5-065b-4ab0-88ff-4237cc11fbcc">1,021</ix:nonFraction>&#160;million euros in cash (see Note 2). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement reached by T. Infra, Liberty Global and InfraVia for the establishment of a fiber-to-the-home (FTTH) joint venture in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On July 29, 2022, T. Infra, Liberty Global plc ("Liberty Global") and InfraVia Capital Partners ("InfraVia") reached an agreement for the establishment of a joint venture, "nexfibre", for the deployment of fiber-to-the-home (FTTH) to <ix:nonFraction unitRef="home" contextRef="i3d32e9aea20744e397e6eae2cd63a5c5_I20220729" decimals="-6" name="tef:DeploymentOfFTTHInUKNumberOfHomes" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2NjY_acd02307-0309-4154-baad-43253dbd24b1">5</ix:nonFraction>&#160;million homes in the United Kingdom not reached by VMED O2 UK Limited's (VMO2) network, with potential for expansion to an additional <ix:nonFraction unitRef="home" contextRef="i0b6cac2e1f7149a39815f82837e49afe_I20220729" decimals="-6" name="tef:DeploymentOfFTTHInUKNumberOfHomes" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2Nzc_e7cb87b2-1281-428f-90e6-eac792367136">2</ix:nonFraction>&#160;million homes. The fiber network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the lead customer, as well as providing a range of technical services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and T. Infra participate by halves in a joint vehicle that holds a <ix:nonFraction unitRef="number" contextRef="i4b35fc97da324b1c99c8721b69c23e4c_D20220729-20220729" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2ODg_aca6f3f8-e33b-47b0-8b44-84224aae4014">50</ix:nonFraction>% interest in nexfibre, with InfraVia owning the remaining <ix:nonFraction unitRef="number" contextRef="i557ca2c2447b433da7907a10ea8dc928_D20220729-20220729" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2OTM_da7da2c4-4738-4963-87d4-6ecbc96a74f6">50</ix:nonFraction>%. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The business plan for the initial rollout to <ix:nonFraction unitRef="home" contextRef="i3d32e9aea20744e397e6eae2cd63a5c5_I20220729" decimals="-6" name="tef:DeploymentOfFTTHInUKNumberOfHomes" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE3MjY_615673aa-ce84-4ccb-9144-01e7402a757d">5</ix:nonFraction>&#160;million homes envisages an investment of approximately <ix:nonFraction unitRef="gbp" contextRef="ia37e93adcc974141908a08ffbf31e749_D20220729-20220729" decimals="-6" name="tef:InvestmentInTheDeploymentOfFTTHInUK" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE2OTg_867926b8-beda-458f-9de7-6552f3a12070">4,500</ix:nonFraction>&#160;million pounds (approximately <ix:nonFraction unitRef="eur" contextRef="ia37e93adcc974141908a08ffbf31e749_D20220729-20220729" decimals="-6" name="tef:InvestmentInTheDeploymentOfFTTHInUK" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDI1NTQ_7ed250a8-f6b7-4b4f-ae17-3c6d7c81a709">5,072</ix:nonFraction> million euros at the exchange rate at December 31, 2022). The three partners have funded their pro-rata share of equity funding for the construction, totaling up to <ix:nonFraction unitRef="gbp" contextRef="ia37e93adcc974141908a08ffbf31e749_D20220729-20220729" decimals="-6" name="tef:InvestmentInTheDeploymentOfFTTHInUKPartnerFinancing" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE3MTI_bdee79b5-ba98-4133-bc05-c0735a5f58a0">1,400</ix:nonFraction>&#160;million pounds (approximately <ix:nonFraction unitRef="eur" contextRef="ia37e93adcc974141908a08ffbf31e749_D20220729-20220729" decimals="-6" name="tef:InvestmentInTheDeploymentOfFTTHInUKPartnerFinancing" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzEwNDQ1MzYwNjA5NDYw_88e403cb-9f22-4815-96e1-edbdeadf6fce">1,578</ix:nonFraction> million euros at the exchange rate at December 31, 2022). In addition, nexfibre has entered into a facilities agreement with a consortium of banks for an amount of up to <ix:nonFraction unitRef="gbp" contextRef="i3d32e9aea20744e397e6eae2cd63a5c5_I20220729" decimals="-6" name="tef:InvestmentInTheDeploymentOfFTTHInUKFacilitiesAgreementWithBanks" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDE3Mzc_3463b6ab-5a89-4ef3-893c-4a6253d6d3ea">3,300</ix:nonFraction>&#160;million pounds (approximately <ix:nonFraction unitRef="eur" contextRef="i3d32e9aea20744e397e6eae2cd63a5c5_I20220729" decimals="-6" name="tef:InvestmentInTheDeploymentOfFTTHInUKFacilitiesAgreementWithBanks" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzI3NDg3NzkyMDI1NTU_f4e264ce-6768-4de3-b96d-566ffecfa48f">3,719</ix:nonFraction> million euros at the exchange rate at December 31, 2022). As part of the transaction, InfraVia has made and will continue to make certain payments to Liberty Global and T. Infra, a portion of which will be linked to the progress of the construction of the network.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-150</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i583ffb8399ff4f75b1be44c0a5f28668" continuedAt="i96e69643c9844e20a3a8ff6b326e4f2f"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d) Environmental and climate change matters</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Environmental management of the Group</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commitment to protect the environment is part of the Company's general strategy and is the responsibility of the Board of Directors. The performance in this area is regularly supervised by the Board's Sustainability Committee and the Responsible Business Office, made up of the global areas which execute that strategy alongside the business units.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group has global environmental and energy management policies, and externally certified environmental management systems in accordance with ISO 14001 in all Group companies. The environment is a central issue throughout the Company, involving both operational and management areas as well as business and innovation areas.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Managing environmental impact and energy consumption is a strategic priority and carbon reduction targets are part of the variable remuneration of all Company employees, including the Senior Management. In addition, Telef&#243;nica, S.A.'s long-term share-based incentive plans 2021-2025 (see Note 27) include CO2 Emission Neutralization targets, in line with the target set by the Company.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Climate change and energy</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In managing climate change, Telef&#243;nica identifies adaptation and mitigation measures and new opportunities for growth and development. To analyse climate change risks, the recommendations of the Task Force on Climate Related Financial Disclosures (TCFD) are followed, identifying short, medium and long-term risks. Specifically, physical and transition risks identify the importance of reducing GHG emissions and energy consumption, and are managed in accordance with Telef&#243;nica's decarbonization roadmap. Opportunities, meanwhile, identify different lines on which Telef&#243;nica seeks to develop its activity through the Energy Efficiency Plan and the Renewable Energy Plan, the Sustainable Finance Framework and the development of new products and services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All of this is contained in the Climate Action Plan, which defines Telef&#243;nica's decarbonization process to achieve net zero emissions by 2040, which involves minimising its own emissions (Scope 1 and 2) and those of the value chain (Scope 3).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For Telef&#243;nica, it is a priority to keep energy consumption stable despite the sharp increase in the digitalization of society and, therefore, in data traffic flowing through the networks. The Group's Energy Efficiency Plan therefore includes initiatives such as network modernization, for example, with investments in fibre optics (more efficient) replacing the copper network, or 5G, and specific projects such as climate modernization.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's decarbonization requires not only maximum efficiency in the use of energy, but also that it comes from renewable sources. Telef&#243;nica's Renewable Energy Plan contemplates different solutions such as self-generation, the purchase of renewable electricity with a guarantee of origin and long-term power purchase agreements (PPAs, see Note 26), and prioritizes non-conventional renewable electricity sources, defines the strategy that allows us to reduce operating costs and reduces exposure to fluctuations in electricity prices.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Most of the electricity consumption in own facilities come from renewable sources. In Brazil, it is worth highlighting the continuation of the distributed generation project. In Spain, the four long-term renewable power purchase agreements (PPAs) signed for the period 2022-2031 have come into operation, equivalent to <ix:nonFraction unitRef="gwh" contextRef="iddcf73e9a1c54fc986bbbd838ea54e37_D20220101-20221231" decimals="0" name="tef:RenewablePowerPurchaseAgreementEnergyPerYear" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNDczMTQxNDcyODg_1bb70b59-909c-4975-b1b4-4190e409ebbc">482</ix:nonFraction> GWh per year for <ix:nonNumeric contextRef="iddcf73e9a1c54fc986bbbd838ea54e37_D20220101-20221231" name="tef:RenewablePowerPurchaseAgreementPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNDczMTQxNDcyODY_fb4c6608-f901-4ad1-8384-7e17418bb096">10</ix:nonNumeric> years. These new agreements follow on from the one signed in 2020, enabling Telef&#243;nica to achieve a total of <ix:nonFraction unitRef="gwh" contextRef="i477f5a01955a4f58b572a37ad71c5cb0_D20220101-20221231" decimals="0" name="tef:RenewablePowerPurchaseAgreementEnergyPerYear" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNDczMTQxNDcyOTM_8a8b4e66-573d-4d35-beb4-93a05acad7b0">582</ix:nonFraction> GWh of renewable electricity covered by PPAs in Telef&#243;nica Spain. In October 2022, Telefonica Germany concluded a PPA with an energy supplier which provides long-term energy security and energy supply with renewable energies from an offshore wind farm over the period from 2025 to 2035. In February 2023 Telefonica Germany has concluded a further PPA for the period 2025 to 2040. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of renewable self-generation, the Group has photovoltaic self-generation systems in several buildings in Spain, with solar production for self-consumption (without surplus to the grid) under <ix:nonFraction unitRef="model" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="0" name="tef:RenewableEnergySolarProductionNumberOfModels" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNDczMTQxNDcyOTc_24a0a445-abf1-46a4-bdaa-d0b38c012399">two</ix:nonFraction> models: the first with its own CapEx and the second under a service model, where the electricity generated is paid for at a lower market value.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of its net zero objective, Telef&#243;nica supports projects that absorb or reduce carbon emissions in order to offset and neutralize emissions that are not reduced. To this end, it purchases carbon credits from projects under the highest standards in certain regions where Telef&#243;nica operates. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-151</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i96e69643c9844e20a3a8ff6b326e4f2f" continuedAt="icbd4605860ba41eca2fddd62a2c00f16"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group contracted, both locally and globally, several insurance programs in order to mitigate the possible occurrence of an incident stemming from the risks of environmental liability and/or natural disasters, to guarantee the continuity of its activity.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sustainable financing</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sustainable financing is a key tool for supporting the transformation of the business through investment in projects with a positive environmental and social impact. In 2018, the Company published its Sustainable Financing Framework. This was updated in January 2021 and, in both cases, was endorsed by a second party opinion from Sustainalytics. The framework is linked to the United Nations Sustainable Development Goals and aligned with the Green Bond, Social Bond and Sustainable Bond Principles of the International Capital Market Association (ICMA).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica was the first issuer of senior green bonds and hybrid instruments (green and sustainable) in the telecommunications sector. The funds that were obtained have been allocated to projects focused on switching our network from copper to fiber, which is more efficient and suffers fewer faults; the rollout and improvement of mobile connectivity in rural areas; and the promotion of entrepreneurship and job creation through investments in start-ups.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to senior green bonds and hybrid instruments, the Group use other sustainable bank financing tools, such as loans and credits linked to sustainability objectives that make it possible to progress steadily towards such important corporate targets as reducing emissions and gender equality. Also in this case, the main syndicated loan of the Telef&#243;nica Group is linked to sustainability criteria in line with the corporate Sustainability-linked Loan Framework, which was drawn up in late 2021 with a second opinion from Sustainalytics.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the Company maintained an active presence in the capital market through several issuances. These included its first sustainable senior bond issuance for <ix:nonFraction unitRef="eur" contextRef="i10413668b623441d95a3765caf1000ad_I20220531" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjAxODE2_b5078504-8eec-43f4-9882-4c3e56ea5d75">1,000</ix:nonFraction> million euros in May (see Appendix III) with a term of <ix:nonNumeric contextRef="i1b04d156f7f846efaba487c2a6de21fc_D20220501-20220531" name="tef:DebtInstrumentTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNDczMTQxNDczMjQ_0d04a78f-3951-4ea4-8fe3-8dd8e496d8b5">nine years</ix:nonNumeric>. The funds obtained from this issuance will be allocated to projects related to transformation of the telecommunications network via the rollout of fiber optics and 5G technology, as well as social projects aimed at promoting inclusive connectivity, entrepreneurship and job creation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s second hybrid green instrument issuance took place in November for the value of <ix:nonFraction unitRef="eur" contextRef="i3e43b92dc8234eaca36fd546be765aff_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjAxODEx_906f5be4-d3b1-4e71-a516-fcbdff54f685">750</ix:nonFraction> million euros (see Note 17.c), with the first redemption date at <ix:nonNumeric contextRef="id490ff3349a9467f86d3000a0040d873_D20220101-20221231" name="tef:DebtInstrumentTerm" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNDczMTQxNDczMjg_753d96b9-af29-4150-b510-eb92306a42ea">six years</ix:nonNumeric>. In this case, the investment from funds will be used to switch off obsolete equipment and transform mobile infrastructures through energy efficiency projects.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Despite the market instability, these two issues were well received by the market with a broadly international and diversified investor base. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Already in January 2023, a new green hybrid instrument has been issued for an amount of <ix:nonFraction unitRef="eur" contextRef="i747e6d637cef4628a461869a0ac4bf0e_I20230131" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjAxODA0_defef46a-862b-48d5-9506-6d39f6c32752">1,000</ix:nonFraction> million euros has been carried out (see Note 31).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil carried out its first issuance of  sustainability-linked bonds, to an aggregated amount of <ix:nonFraction unitRef="brl" contextRef="i64df29b308bd47f18bcd882565bcd43b_I20230131" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjAxNzk3_f75bfe41-d131-4e64-8145-b5696212a944">3,500</ix:nonFraction> million reais (equivalent to <ix:nonFraction unitRef="eur" contextRef="i64df29b308bd47f18bcd882565bcd43b_I20230131" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjAxNzky_f49e360a-a564-4a65-bb57-6b1f0f2fa3f6">628</ix:nonFraction> million euros at closing 2022 exchange rate, see Appendix III). Financing costs are linked to compliance with sustainability targets between now and 2027.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of bank financing, the Telef&#243;nica Group&#8217;s main syndicated loan was refinanced at a corporate level in early 2022 for the amount of <ix:nonFraction unitRef="eur" contextRef="i4c6ec0fcea09431aa184d3f517729a4d_I20220101" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjAxNzcy_e6879470-9c38-4c2b-bc8d-2f1f159eb667">5,500</ix:nonFraction> million euros (see Note 18 and Appendix V), the interest applied to which will be linked to compliance with sustainability targets. The deal was supported by nearly <ix:nonFraction unitRef="entity" contextRef="i4c6ec0fcea09431aa184d3f517729a4d_I20220101" decimals="INF" name="tef:BorrowingsNumberOfEntitiesSupported" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwNDczMTQxNDczNDA_43514e8a-fa68-4d20-a60e-ef49760f4dff">30</ix:nonFraction> entities.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Committed lines and bilateral financing operations were also carried out during the year with numerous financial entities, obtaining a total volume of <ix:nonFraction unitRef="eur" contextRef="i1c9c1f1ddcdb4474a4ae0574072dd19e_I20220101" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjAxNzc5_e5822079-60c8-4b3d-b704-cc19bdf05fb1">3,864</ix:nonFraction> million euros at the close of 2022, the interest applied to which is also linked to compliance with sustainability targets. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-152</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="icbd4605860ba41eca2fddd62a2c00f16" continuedAt="ibd4159f3b3674ed6bfe870a20adb63c5"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleOfSustainableFinancingTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzQxMjMxNjg2MjI5MzA0_7050dcae-b82c-4309-bf3d-488e57ae9d8e" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Overall, as at December 31, 2022, the Group's sustainable financing amounts to <ix:nonFraction unitRef="eur" contextRef="i80e9b33acd654f1a8de43b3a0e2ac2a3_I20221231" decimals="-5" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzE2NDkyNjc0NjA0MTAx_9b96ca6c-c6fd-48bf-a291-0930bca8fb68">15,956</ix:nonFraction> million euros, broken down as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.326%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.474%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sustainable financing</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80e9b33acd654f1a8de43b3a0e2ac2a3_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzItMS0xLTEtOTYyMjM0_af01e90f-9e70-4a62-82b8-8444d5fb56c1">2,842</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior green bond of Telef&#243;nica Emisiones (Appendix III)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i25655ef38636419e9c09d60cac808ad5_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzMtMS0xLTEtOTYyMjM0_9f6884ed-9118-4094-9a25-ef54f7fe3abb">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior sustainable bond of Telef&#243;nica Emisiones (Appendix III)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie9aba7b4dd454e5fa0b8715ec6f69f32_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzQtMS0xLTEtOTYyMjM0_14a03396-db0d-44b7-8559-7abf58bcc387">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked bonds of Telef&#243;nica Brazil (Appendix III)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7ec100c2348e4ec3868c0f297a8e3047_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzUtMS0xLTEtOTYyMjM0_bc21e43e-16b6-4570-a9a1-0072b8825447">628</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facilities of Colombia Telecomunicaciones</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icd5977dad00c4c78877387f42cb8b94d_I20221231" decimals="-6" name="ifrs-full:FinancialLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzYtMS0xLTEtOTYyMjM0_83f62fb0-8bed-431c-abca-844f07bcca04">214</ix:nonFraction>&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undated deeply subordinated securities (hybrid instruments) (Note 17.c)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4ab93880ee2d4e49bec28d265dc3b97a_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzctMS0xLTEtOTYyMjM0_90d267d7-6329-4685-9f5e-04cd1b8b7938">3,000</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undrawn facilities at December 31, 2022 (Note 18)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie42063a0d0544592b5c8395585991a77_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzgtMS0xLTEtOTYyMjM0_c5cd13b7-eaf9-4e17-b74f-4ec077fbdf39">10,114</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facility of Telef&#243;nica, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9f9376e7bf0a47d59525728cfa8bc2ef_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzktMS0xLTEtOTYyMjM0_4047c925-b3b1-4c64-b5d6-45881d59c208">5,500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facility of Telefonica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i74db0deababd4d9facf6f3eaf3256bd4_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzEwLTEtMS0xLTk2MjIzNA_6c3bc7b6-73b2-4c5c-bd26-f680cea1ded0">750</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked bilateral facilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8d61343165ec4a0794adc43b4c08cac4_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzExLTEtMS0xLTk2MjIzNA_49f2f4c0-e661-45ba-ae1c-2841eaa534cd">3,864</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80e9b33acd654f1a8de43b3a0e2ac2a3_I20221231" decimals="-5" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzEyLTEtMS0xLTk2MjIzNA_9b96ca6c-c6fd-48bf-a291-0930bca8fb68">15,956</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e) Auditors&#8217; fees</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The services commissioned to the auditors meet the independence requirements stipulated by the Spanish Audit Law 22/2015, July 20, the US SEC rules and the Public Company Accounting Oversight Board (PCAOB). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The expenses accrued by the Group, in respect of the fees for services rendered to the various member firms of the PwC network, of which PricewaterhouseCoopers Auditores, S.L. ("PwC Auditores, S.L."), the auditors of Telef&#243;nica, S.A., forms part, amounted to <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU0MDAz_c4da9c8d-ea97-438d-a7eb-929699344790">20.07</ix:nonFraction> million euros and <ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU0MDI0_a1c97de6-014c-4471-b54c-6510c43a8630">19.99</ix:nonFraction> million euros in 2022 and 2021, respectively.  </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfAuditorsRemunerationExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwOTA3_64f04672-e781-4f2e-9d10-48852f431dfb" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of these amounts is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:35.942%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.297%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:0 1pt"></td><td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PwC Auditores, S.L.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other PwC </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PwC Auditores, S.L.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other PwC </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audit services</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i553d0d1ff8214e4ab72afade5ae45d35_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItMS0xLTEtNTEwNDQy_c1e99261-6e4f-4ec8-8a5a-04e8ee6c97ee">7.73</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i507ce196afb5491a8b9787cb3770687d_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItMi0xLTEtNTEwNDQy_0d797224-53eb-42ac-98fa-96e9b403f51b">10.98</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItMy0xLTEtNTEwNDQy_560b0682-0d25-420f-b420-9b9a7fb0629a">18.71</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia799970b31f64162b4d9ed71108dae4d_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItNC0xLTEtNTEwNDQy_28e3a543-221f-4bdd-b004-473641865573">7.39</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i575e555816844bd68616771c95f699e2_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItNS0xLTEtNTEwNDQy_f4fdc828-66c2-47e5-88fe-e38d6172d244">10.97</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItNi0xLTEtNTEwNDQy_8383255a-fd1c-4e3f-8119-9fbf78699ebb">18.36</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audit-related services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i553d0d1ff8214e4ab72afade5ae45d35_D20220101-20221231" decimals="-4" name="tef:AuditorsRemunerationForAuditRelatedServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzMtMS0xLTEtNTEwNDQy_22a5e30a-7592-4174-8f67-d61fcfd20a99">0.99</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i507ce196afb5491a8b9787cb3770687d_D20220101-20221231" decimals="-4" name="tef:AuditorsRemunerationForAuditRelatedServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzMtMi0xLTEtNTEwNDQy_cc81af32-29ad-49a3-9025-0163e6ab985c">0.37</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-4" name="tef:AuditorsRemunerationForAuditRelatedServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzMtMy0xLTEtNTEwNDQy_39357cad-ac57-4404-aae8-1913d2163df1">1.36</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia799970b31f64162b4d9ed71108dae4d_D20210101-20211231" decimals="-4" name="tef:AuditorsRemunerationForAuditRelatedServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzMtNC0xLTEtNTEwNDQy_c344492c-65fb-4ffd-bee4-aed0b6779a5a">0.82</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i575e555816844bd68616771c95f699e2_D20210101-20211231" decimals="-4" name="tef:AuditorsRemunerationForAuditRelatedServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzMtNS0xLTEtNTEwNDQy_b45cec5a-18a7-40e1-b357-62af555a9865">0.81</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-4" name="tef:AuditorsRemunerationForAuditRelatedServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzMtNi0xLTEtNTEwNDQy_e52e2d64-f8e2-4e1b-bf0a-b9594d6f4505">1.63</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i553d0d1ff8214e4ab72afade5ae45d35_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzYtMS0xLTEtNTEwNDQy_22a093c1-ea71-4597-bbe4-4a39abaed270">8.72</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i507ce196afb5491a8b9787cb3770687d_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzYtMi0xLTEtNTEwNDQy_bfcf8167-20d3-4fd3-bd07-f8cc0eb95372">11.35</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzYtMy0xLTEtNTEwNDQy_c4da9c8d-ea97-438d-a7eb-929699344790">20.07</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia799970b31f64162b4d9ed71108dae4d_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzYtNC0xLTEtNTEwNDQy_5505c71a-eb43-432b-b984-b48bd09d1e0e">8.21</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i575e555816844bd68616771c95f699e2_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzYtNS0xLTEtNTEwNDQy_84347ed3-4257-40c9-9157-30d99bc54487">11.78</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzYtNi0xLTEtNTEwNDQy_a1c97de6-014c-4471-b54c-6510c43a8630">19.99</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Audit services includes audit fees of Telef&#243;nica, S.A. individual and consolidated financial statements and its subsidiaries, as well as reviews of interim financial statements. These Audit services also incorporate the integrated audits of the financial statements for the annual report Form 20-F to file with the US SEC for those entities currently required including, therefore, the internal control audit over the financial information to comply with the requirements of the Sarbanes-Oxley 2002 Act (Section 404). Also includes audit work related with legal and regulatory requirements that the auditor must necessarily perform in their function and audit and reviews of financial statements in connection with financial transactions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Audit-related services: services related to the review of the information required by regulatory authorities, agreed financial reporting procedures not requested by legal or regulatory bodies, the issuance of comfort letters, the report on the information relating to the system of internal control over financial reporting (ICFR) and the verification of the non-financial information in the annual reports.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During the years 2022 and 2021, the Principal Auditor has not performed other services than the Audit services or the Audit-related services in the Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">PwC Auditores, S.L., has provided the following services to the Group during the years 2022 and 2021: the individual and consolidated financial statements audit, reviews of interim financial statements, the integrated audit of the financial statements for the annual report Form 20-F to file with the US SEC, the internal control audit over the financial information to comply with the requirements of the Sarbanes-Oxley 2002 Act (Section 404), the issuance of comfort letters, agreed financial reporting procedures and the verification of the non-financial information in the annual reports.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-153</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ibd4159f3b3674ed6bfe870a20adb63c5" continuedAt="i8e617f94d2724190830c33ccacb92fab"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The expenses accrued to Other Audit Firms, other than those integrated in the international PwC network, that have provided audit services to companies included in the consolidation of the Group for the year 2022 have amounted to a total of <ix:nonFraction unitRef="eur" contextRef="ia0c5587ec091400eac8829d0c94ca939_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU2MzQw_37fa4da2-54f4-4592-8280-a733d1351cff">1.46</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i715fb48ebd7540c2aeef028fb2dc2b7f_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemuneration" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU2MzU4_79108fd1-0217-46c3-881e-d03bf0593b73">1.58</ix:nonFraction> million euros in 2021), the detail of the audit services corresponds to <ix:nonFraction unitRef="eur" contextRef="ia0c5587ec091400eac8829d0c94ca939_D20220101-20221231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU2NDMz_6af69202-c8b3-4989-913f-a22c1e6dde06">0.83</ix:nonFraction> million euros (<ix:nonFraction unitRef="eur" contextRef="i715fb48ebd7540c2aeef028fb2dc2b7f_D20210101-20211231" decimals="-4" name="ifrs-full:AuditorsRemunerationForAuditServices" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU2NDUx_bee5ff0f-93a8-4ead-9ad9-a8f1e94167b7">0.55</ix:nonFraction> million euros in 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">f) Trade and other guarantees</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is required to issue trade guarantees and deposits for concession and spectrum tender bids (see Note 19) and in the ordinary course of its business. No significant additional liabilities in the accompanying consolidated financial statements are expected to arise from guarantees and deposits issued.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">g) Directors&#8217; and Senior Executives&#8217; compensation and other benefits</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The compensation of the members of Telef&#243;nica&#8217;s Board of Directors is governed by article 35 of the Company&#8217;s By-Laws, which provides that the annual amount of the compensation to be paid thereby to all of the Directors in their capacity as such, i.e., as members of the Board of Directors and for the performance of the duty of supervision and collective decision-making inherent in such body, shall be fixed by the shareholders at the General Shareholders' Meeting. The Board of Directors shall determine the exact amount to be paid within such limit and the distribution thereof among the Directors, taking into account the duties and responsibilities assigned to each Director, their membership on Committees within the Board of Directors and other objective circumstances that it deems relevant. Furthermore, Executive Directors shall receive such compensation as the Board determines for the performance of executive duties delegated or entrusted to them by the Board of Directors. Such compensation shall conform to the Director compensation policy approved by the shareholders at the General Shareholders&#8217; Meeting. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with the foregoing, the shareholders acting at the Ordinary General Shareholders&#8217; Meeting held on April 11, 2003 set at <ix:nonFraction unitRef="eur" contextRef="ic41ed5e97dc34c8a8fbfac52603ae539_D20030411-20030411" decimals="INF" name="ifrs-full:DirectorsRemunerationExpense" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU4MTQ3_fe9f72f0-be7b-430c-af36-43cbbe06b097">6</ix:nonFraction>&#160;million euros the maximum amount of annual gross compensation to be received by the Board of Directors as a fixed allotment and as attendance fees for attending the meetings of the Advisory or Control Committees of the Board of Directors. Thus, as regards fiscal year 2022, the total amount of compensation accrued by the Directors of Telef&#243;nica, in their capacity as such, </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="INF" name="ifrs-full:DirectorsRemunerationExpense" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU4NTE4_61f34d4e-d8df-4423-ba4e-607b5274d195">2,851,801</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> euros for the fixed allocation and for attendance fees.  </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The compensation of the Directors of Telef&#243;nica in their capacity as members of the Board of Directors, of the Executive Commission and/or of the Advisory or Control Committees consists of a fixed amount payable monthly and of attendance fees for attending the meetings of the Advisory or Control Committees. </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfKeyManagementPersonnelCompensationTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwODQx_52d85178-0021-4a1d-bda4-afa59b97c79f" continuedAt="i75e9ee306cec403189c08ceb69ed9d00" escape="true"><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Set forth below are the amounts established in fiscal year 2022 as fixed amounts for belonging to the Board of Directors, the Executive Commission and the Advisory or Control Committees of Telef&#243;nica and the attendance fees for attending meetings of the Advisory or Control Committees of the Board of Directors: </span></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Compensation of the Board of Directors and of the Committees thereof</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:24.706%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.360%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.508%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amounts in euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Position</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Board of Directors</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Executive Commission</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Advisory or Control Committees </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chairman</span></td><td colspan="2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vice chairman</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieb0fb6b40ff646b684e5522dea5e6f0c_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzMtMS0xLTEtNTEwNDQy_d780a26b-d612-47c6-bc7b-76034ca5573a">200,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib35797c4766c4a218dbb9224469a31c0_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzMtMi0xLTEtNTEwNDQy_03b53f58-ccf2-42a2-85ae-edfaf9185179">80,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Executive Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1215878f15304a098ef97987b6d504e3_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzQtMS0xLTEtNTEwNDQy_d556309a-cbe5-485d-aa93-f600082d8e82">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie72016624aef4d048bab995057aede19_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzQtMi0xLTEtNTEwNDQy_303c2e46-ef1f-43be-a47f-9e001a217ebb">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie86fc0003a054f0dadfd287edefc0858_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzQtMy0xLTEtNTEwNDQy_602f4a61-6b69-47fd-b8c5-4d1e60685d03">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proprietary Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibd3101e8cabf4f8dabbe5d848c284b73_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzUtMS0xLTEtNTEwNDQy_7ee01622-4718-4907-95ab-206c25615a7b">120,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i64e977ed468f4713b172e78681fdb566_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzUtMi0xLTEtNTEwNDQy_49e3cdbf-f3a2-4c37-94a9-aafa27fcbcc2">80,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib7e1941c273644ef823b0d8b930a0352_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzUtMy0xLTEtNTEwNDQy_fb31db6a-0d19-4a80-b857-4a1bd9e4ce1e">11,200</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Independent Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idc8148f3bf37490588a7e22406cc0be3_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzYtMS0xLTEtNTEwNDQy_315327d0-a477-4441-919e-65c543d68945">120,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icef88355a0e64f2da414f640c1a4766e_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzYtMi0xLTEtNTEwNDQy_3ce3fcd9-1f9c-4363-ae11-2e2bc4521140">80,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifd070b8919f74a4e8b4e7e6ca58e41a4_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzYtMy0xLTEtNTEwNDQy_661dbe50-1b4e-4e94-ba6d-0a479037fafa">11,200</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icfea2a30ee7a474fbb1228994243126f_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzctMS0xLTEtNTEwNDQy_992a3592-7b01-4e44-a8b5-0c31350bb39f">120,000</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ieb9af4b06acc4b309345bb4efbe08839_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzctMi0xLTEtNTEwNDQy_dd61280b-528f-49eb-b0ad-cbca8522a9cb">80,000</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibfb885e8b1f746ac9c39a695b7ddc125_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzctMy0xLTEtNTEwNDQy_2084ac20-3b32-4ac2-a154-4dd9b0ca006e">11,200</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;text-align:justify"><ix:continuation id="i75e9ee306cec403189c08ceb69ed9d00" continuedAt="ic28913f1c7a04edbbc1dac50c9d56b01"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros.  </span></ix:continuation><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this regard, it is noted that the Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, waived the receipt of the above amounts (i.e., <ix:nonFraction unitRef="eur" contextRef="ia0d0557969a54567aefaa4823da2614d_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5MzUy_5321e851-8b4f-43ca-8541-efa01921b258">240,000</ix:nonFraction> euros as Chairman of the Board of Directors and <ix:nonFraction unitRef="eur" contextRef="ib2fbeaa227394363b76182d0dc58ac83_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDAz_18be8b22-63fd-4bf5-b9e1-9b82654620c0">80,000</ix:nonFraction> euros as Chairman of the Executive Commission). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, the fixed remuneration of <ix:nonFraction unitRef="eur" contextRef="i278127b915304bc08b753b116cdd6bd0_D20220101-20221231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_18be9693-d50a-4fe9-9489-df9831207d3a"><ix:nonFraction unitRef="eur" contextRef="i3863cf3064ed453b91ffe43c904f1bca_D20190101-20191231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_3d54efad-ca3a-4b50-859a-5b3db6bec472"><ix:nonFraction unitRef="eur" contextRef="i3ad4db69d0fb41a6a24faf128fe121b2_D20180101-20181231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_66d61bb0-0a56-4c03-8f1c-fa8e5b868a6d"><ix:nonFraction unitRef="eur" contextRef="idaa70bf2a5734126b2f008c445795f1e_D20160101-20161231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_6fcf58f7-bfa3-4263-8c4a-4a5ea46ba9d9"><ix:nonFraction unitRef="eur" contextRef="i8eab1de12df0429c95b51ffda29c2d37_D20200101-20201231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_89867a73-f969-4b2d-baad-46b02fe51eef"><ix:nonFraction unitRef="eur" contextRef="iff01296e563746f58d0264052ab75c55_D20210101-20211231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_c07a51ce-04d0-4de1-acf2-e4a5ebcdf54e"><ix:nonFraction unitRef="eur" contextRef="ib1da7073c1c649b383c36f2e968854c0_D20170101-20171231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_c485cfd1-a75f-4fb2-b3f8-a484fc51772e">1,923,100</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction> euros established for the 2023 financial year related to executive roles carried out by Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez is equal to that received in the </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-154</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i8e617f94d2724190830c33ccacb92fab" continuedAt="if8aa480ddcae4e049b215c059a8ea212"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">previous seven years (i.e. 2022, 2021, 2020, 2019, 2018, 2017 and 2016), which was set in his capacity as Chief Operating Officer, remaining invariably after his appointment as Chairman in 2016. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fixed remuneration, for his executive roles, of <ix:nonFraction unitRef="eur" contextRef="i7f59dcb2a41e4707b1e8a6551192bac1_D20220101-20221231" decimals="INF" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwMDMz_3cf73910-b9ed-4a1f-80b5-d59ca7ebe6f6">1,600,000</ix:nonFraction> euros that the Chief Operating Officer (C.O.O.), Mr. &#193;ngel Vil&#225; Boix, has established for the 2023 financial year is equal to the one received in the years 2022, 2021, 2020 and 2019.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Individualized description</span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="if8aa480ddcae4e049b215c059a8ea212">Appendix II provides an individual breakdown by item of the compensation and benefits that the members of the Board of Directors and of the Senior Management of the Company have accrued and/or received from Telef&#243;nica, S.A. and from other companies of the Telef&#243;nica Group during fiscal year 2022. Likewise, the compensation and benefits accrued and/or received, during such year, by the members of the Company's Senior Management are broken down.</ix:continuation> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-155</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_364"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 30. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzM1NjA_5750ad56-64ed-41b8-ad88-6e065e04bb2e" continuedAt="i07ea33944a1646b0b35ae38f3008ac6f" escape="true">Operations classified as held for sale</ix:nonNumeric></span></div><ix:continuation id="i07ea33944a1646b0b35ae38f3008ac6f" continuedAt="i0029ad0212e1486e92c5e7f5ae73b524"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzM1OTU_7f6c4cad-9d56-4535-a905-1a6dc3bff081" continuedAt="id117116d97694270879528d1073d471c" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of non-current assets and disposal groups held for sale and liabilities associated at December&#160;31, 2022 and December&#160;31, 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.993%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.853%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.854%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic3ba34d302904a75afe59ee3a797f8de_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzItMS0xLTEtNTEwNDQy_08edb683-f02a-4186-8978-7aa0f2156e75">&#8212;</ix:nonFraction></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if6f2b69090eb4b4a9e61cd955b0d3a20_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzItMi0xLTEtNTEwNDQy_ce721336-b133-41df-a893-8aff9914cb81">253</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fiber optic assets in Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8567e76fb3834383a0d53f797c70fe54_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzMtMS0xLTEtNTEwNDQy_3b5830e3-8c6c-479b-be5e-155572ab93b5">&#8212;</ix:nonFraction></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iadaecdaf9e5f445da3e2645e25ff1164_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzMtMi0xLTEtNTEwNDQy_3919d202-41c0-4edc-819f-cdc387ccc582">57</ix:nonFraction></span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibb05dd43ef364ea493ab2f0df7ecc6f2_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzUtMS0xLTEtNTEwNDQy_cf523e90-4a6b-4bec-a52d-654883724be5">7</ix:nonFraction></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i17cb15e51b474863912beeccf61fbfec_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzUtMi0xLTEtNTEwNDQy_8739fbfe-63ed-46ec-9422-e5e70cbbe0a2">48</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzYtMS0xLTEtNTEwNDQy_e48ea1a2-c0c7-4da9-a6d8-f923a0cd3c90">7</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphMDgxMDU1MmY2M2U0N2RmOTYxMzJkZmU3OTg3MGFlYy90YWJsZXJhbmdlOmEwODEwNTUyZjYzZTQ3ZGY5NjEzMmRmZTc5ODcwYWVjXzYtMi0xLTEtNTEwNDQy_f6027ed6-3bc2-4712-ac1b-de8d9112ff35">358</ix:nonFraction></span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.993%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.853%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.854%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic3ba34d302904a75afe59ee3a797f8de_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphZDRkMGVlN2FlNWM0YmJkYWU5ZDU5ZDI3N2RhZGQ4Yy90YWJsZXJhbmdlOmFkNGQwZWU3YWU1YzRiYmRhZTlkNTlkMjc3ZGFkZDhjXzItMS0xLTEtNTEwNDQy_ffbc68de-857c-4d64-b98c-84f896e2cab8">&#8212;</ix:nonFraction></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if6f2b69090eb4b4a9e61cd955b0d3a20_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphZDRkMGVlN2FlNWM0YmJkYWU5ZDU5ZDI3N2RhZGQ4Yy90YWJsZXJhbmdlOmFkNGQwZWU3YWU1YzRiYmRhZTlkNTlkMjc3ZGFkZDhjXzItMi0xLTEtNTEwNDQy_47d5189c-f5b9-460b-b4e0-1adc90a95455">134</ix:nonFraction></span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icbe777b42f9e446d904e131292bb1c7b_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphZDRkMGVlN2FlNWM0YmJkYWU5ZDU5ZDI3N2RhZGQ4Yy90YWJsZXJhbmdlOmFkNGQwZWU3YWU1YzRiYmRhZTlkNTlkMjc3ZGFkZDhjXzUtMS0xLTEtNTEwNDQy_2ca8c5b9-2d5b-4a63-a0ae-1fb938e88061">&#8212;</ix:nonFraction></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c590b38bfc94edeb95f906a30201807_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphZDRkMGVlN2FlNWM0YmJkYWU5ZDU5ZDI3N2RhZGQ4Yy90YWJsZXJhbmdlOmFkNGQwZWU3YWU1YzRiYmRhZTlkNTlkMjc3ZGFkZDhjXzUtMi0xLTEtNTEwNDQy_0c3fafca-c0d2-4eb1-ae8c-de93e221ce1d">&#8212;</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities associated with non-current assets <br/>and disposal groups held for sale</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphZDRkMGVlN2FlNWM0YmJkYWU5ZDU5ZDI3N2RhZGQ4Yy90YWJsZXJhbmdlOmFkNGQwZWU3YWU1YzRiYmRhZTlkNTlkMjc3ZGFkZDhjXzYtMS0xLTEtNTEwNDQy_525f600e-6ddb-4ca8-8609-42d8556a978e">&#8212;</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231" decimals="-6" name="ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTphZDRkMGVlN2FlNWM0YmJkYWU5ZDU5ZDI3N2RhZGQ4Yy90YWJsZXJhbmdlOmFkNGQwZWU3YWU1YzRiYmRhZTlkNTlkMjc3ZGFkZDhjXzYtMi0xLTEtNTEwNDQy_c0d4e4a8-f616-406f-a67b-b0de863635b9">134</ix:nonFraction></span></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fiber assets in Colombia</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 16, 2021, Colombia Telecomunicaciones S.A. ESP BIC (Telef&#243;nica Colombia) entered into a sale with a Colombian company controlled by Kohlber Kravis Roberts - KKR (Onnet Fibra Colombia S.A.S) for the sale and purchase of certain fiber assets owned by Telef&#243;nica Colombia and for the provision of wholesale connectivity services by Onnet Fibra Colombia S.A.S to Telef&#243;nica Colombia, the development of activities of deployment of fiber network, and other associated services. On January 11, 2022, once the corresponding authorizations from the regulatory authorities were obtained and after the fulfillment of certain agreed conditions, the transaction was completed (see Note 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica M&#243;viles El Salvador</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 14, 2021, Telef&#243;nica Centroam&#233;rica Inversiones, S.L. (<ix:nonFraction unitRef="number" contextRef="ic69d5962183f4e1eaef67552fc99c211_D20211014-20211014" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzE2NDkyNjc0NTMxNTM_7301e109-c8e2-4286-a985-e06ed6eb0a21">60</ix:nonFraction>% of which is held, directly and indirectly, by Telef&#243;nica and <ix:nonFraction unitRef="number" contextRef="i78df6130cbdd490a8e15e4345c5d981a_D20211014-20211014" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzE2NDkyNjc0NTMxNTk_075438cf-005a-4616-bef4-a3f0f0680857">40</ix:nonFraction>% by Corporaci&#243;n Multi Inversiones) reached an agreement with General International Telecom Limited for the sale of the entire share capital of Telef&#243;nica M&#243;viles El Salvador, S.A. de C.V. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 13, 2022, after the satisfaction of the closing conditions and once the relevant regulatory approvals were obtained, Telef&#243;nica Centroam&#233;rica Inversiones, S.L transferred its stake (<ix:nonFraction unitRef="number" contextRef="id5374222cd724ad3af331776a4dee39a_I20220113" decimals="1" name="tef:PercentageOfVotingEquityTransferedAsConsideration" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzE2NDkyNjc0NTExOTk_18a19d52-5f82-4aaa-9c93-cfaf3564ee38">99.3</ix:nonFraction>%) in Telef&#243;nica M&#243;viles El Salvador to General International Telecom El Salvador, S.A. de C.V. for an amount of <ix:nonFraction unitRef="usd" contextRef="i9704554bf766423cba1b55f3b74c130d_D20220113-20220113" decimals="-6" sign="-" name="ifrs-full:ConsiderationPaidReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzE2NDkyNjc0NTEyMTA_bed55930-379c-4747-9ff9-59b875366805">139</ix:nonFraction> million U.S. dollars (approximately <ix:nonFraction unitRef="eur" contextRef="i9704554bf766423cba1b55f3b74c130d_D20220113-20220113" decimals="-6" sign="-" name="ifrs-full:ConsiderationPaidReceived" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzE2NDkyNjc0NTEyMDU_ccfb4c2d-b6dc-4d97-865f-1de89c2db231">121</ix:nonFraction> million euros at the exchange rate at such date).</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-156</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i0029ad0212e1486e92c5e7f5ae73b524"><ix:continuation id="id117116d97694270879528d1073d471c"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of assets and liabilities of Telef&#243;nica M&#243;viles 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, 2021 was as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.326%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.474%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. M&#243;viles El Salvador</span></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:NoncurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzItMS0xLTEtNTEwNDQy_c89571cb-be0e-4a65-9a2d-f1f8f18fcb1a">211</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:2pt solid 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0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:PropertyPlantAndEquipment" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzUtMS0xLTEtNTEwNDQy_d52a55a5-3935-4ac4-8287-8d30cd744cbe">79</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="tef:NonCurrentFinancialAssetsAndOtherNonCurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzgtMS0xLTEtNTEwNDQy_84d1afb0-8bd5-4dfd-b53b-41d956ad35a0">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:DeferredTaxAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzktMS0xLTEtNTEwNDQy_55d0390d-912c-4c7d-9cee-55a444b0267b">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:CurrentAssets" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzEwLTEtMS0xLTUxMDQ0Mg_5e714519-d274-4010-8142-01655e532d1f">42</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:Inventories" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzExLTEtMS0xLTUxMDQ0Mg_ba81c357-3e66-4f80-987c-514090fbadb6">7</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:CurrentTaxAssetsCurrent" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzEzLTEtMS0xLTUxMDQ0Mg_43c5c154-35fd-4a7e-a2b4-acda3b6467f2">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:CurrentFinancialAssets" scale="6" 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style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:NoncurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzE4LTEtMS0xLTUxMDQ0Mg_47cefbe1-0ed3-4724-ae0e-1741b8b5ec7e">63</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:2pt 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:NoncurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzIwLTEtMS0xLTUxMDQ0Mg_7253695a-e556-481f-8979-86ae481eb045">37</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:DeferredTaxLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzIyLTEtMS0xLTUxMDQ0Mg_807da3ad-f459-4a92-914f-af8bc61c0e6e">10</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:NoncurrentProvisions" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzIzLTEtMS0xLTUxMDQ0Mg_abaf1241-e415-4864-9296-d8c9f98d4b47">7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:CurrentLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzI0LTEtMS0xLTUxMDQ0Mg_327cb264-3ead-4b46-aab5-d8d25cdcc7f6">71</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid 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1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:CurrentLeaseLiabilities" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzI2LTEtMS0xLTUxMDQ0Mg_7e9d8577-1041-46f4-9c28-9494d547860d">12</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i75196df64811410eac67464b2890ed5c_I20211231" decimals="-6" name="ifrs-full:TradeAndOtherCurrentPayables" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90YWJsZTo0Y2JjOTI3YmZkNDI0YjRmOTc1NmQ1YmY3NzIzNjFhMi90YWJsZXJhbmdlOjRjYmM5MjdiZmQ0MjRiNGY5NzU2ZDViZjc3MjM2MWEyXzI3LTEtMS0xLTUxMDQ0Mg_072a1092-f497-45c1-9748-2dd394744f08">32</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-157</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_367"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Note 31. <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzM1MzY_becf274b-880b-4c40-b94c-4d33df2548d6" continuedAt="i75575de7de8a43c685eba7da510904d0" escape="true">Events after the reporting period</ix:nonNumeric></span></div><ix:continuation id="i75575de7de8a43c685eba7da510904d0"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following events regarding the Telef&#243;nica Group took place between December&#160;31, 2022 and the date of authorization for issue of the accompanying consolidated financial statements: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 13, 2023, the first annual extension of the sustainability-linked syndicated loan facility for <ix:nonFraction unitRef="eur" contextRef="iaeada8b79b6d49158ce72b224f72e747_I20230113" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzEwNDQ1MzYwNDc3MDM5_418525b8-0e61-4940-bfa9-35545be82d39">5,500</ix:nonFraction> million euros of Telef&#243;nica, S.A. was exercised. The new expiration date is January 13, 2028.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 18, 2023, Telef&#243;nica informed that, once the corresponding regulatory and competition approvals were obtained, Pontel Participaciones, S.L., Telef&#243;nica&#8217;s subsidiary held <ix:nonFraction unitRef="number" contextRef="i8899505f4cac4a138ef44e2d9c61cf1a_D20230117-20230117" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzU3NzI0MzYwNDc0NDI5_fc188c5b-0abd-43d2-ab2b-d2320b3c9990">83.35</ix:nonFraction>% by Telef&#243;nica and <ix:nonFraction unitRef="number" contextRef="i1fd84e62724c41c8925097b484ec2781_D20230117-20230117" decimals="4" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzU3NzI0MzYwNDc0NDM3_e14c46d0-5c81-4c11-b676-504f0c0f57f5">16.65</ix:nonFraction>% by Pontegadea Inversiones, S.L., acquired <ix:nonFraction unitRef="number" contextRef="i9c7beb9ca9c142e48e7ad004bea5d908_I20230118" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzU3NzI0MzYwNDc0NDQ1_68e41c84-4afa-41c0-a82f-5958c4ee32b1">40</ix:nonFraction>% of the share capital of Telxius Telecom, S.A. from Taurus Bidco S.&#224; r.l. (a company managed by KKR). As a result of the transaction, Pontel Participaciones, S.L., which held the remaining <ix:nonFraction unitRef="number" contextRef="ibaa01ef49b504dbda5cb88df5e58a506_D20230117-20230117" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzYwNDczMTM5NjkwMzE_f8d86054-aeda-43a6-9b4b-3759bcd7f92a">60</ix:nonFraction>% of Telxius Telecom, S.A.'s share capital, has become the sole shareholder of Telxius Telecom, S.A. Likewise, Pontegadea Inversiones, S.L. increased its holding in Pontel Participaciones, S.L. to <ix:nonFraction unitRef="number" contextRef="ia68afd7b3d1847a8a4c269246f2a8ef1_D20230118-20230118" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzYwNDczMTM5NjkwMzc_3497ca25-ef44-4577-82b8-bd1a2e903d76">30</ix:nonFraction>% and Telef&#243;nica has now a <ix:nonFraction unitRef="number" contextRef="i67b95d90f544449c9de134118ff8eb1f_D20230118-20230118" decimals="2" name="ifrs-full:ProportionOfVotingPowerHeldInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzU3NzI0MzYwNDc0NDUx_3dbb6358-1138-4bc9-ae86-2f2347a55c56">70</ix:nonFraction>% stake.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 23, 2023, Telef&#243;nica Emisiones, S.A.U. redeemed <ix:nonFraction unitRef="eur" contextRef="ia3142d7c56b74c0e91143c311d8cfed6_D20230123-20230123" decimals="-6" name="ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzExNTQ0ODcyMTA0ODI0_c608be4e-89cf-4793-9b5b-7b28a936b13c">1,277</ix:nonFraction> million euros of its notes issued on January 22, 2013. These notes were guaranteed by Telef&#243;nica, S.A. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:27.65pt">In January 2023, Telef&#243;nica Europe, B.V. carried out the following transactions related to its capital structure:</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">a new issue amounting to <ix:nonFraction unitRef="eur" contextRef="i0ab65b776aba4d4e81272a2370f0292b_I20230131" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzEwNDQ1MzYwNDc5NDEy_d913f125-7981-4d77-a63c-77a2adafb311">1,000</ix:nonFraction> million euros, guaranteed by Telef&#243;nica, S.A. An amount equal to the net proceeds of the issue of the securities will be subject to specific eligibility criteria to be applied to finance new or refinance existing projects, as detailed in Telef&#243;nica's SDG Framework. The settlement took place on February 2, 2023; and</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">a tender offer for the following hybrid instruments: (i) any outstanding <ix:nonFraction unitRef="eur" contextRef="ia940cf0727c54eb2b53b48e612866608_I20230131" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzEwNDQ1MzYwNDc5NDE5_555fb244-19f1-4c57-a876-18160243886d">1,250</ix:nonFraction> million euros Undated 5.7 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "September 2023 Notes") and (ii) any outstanding <ix:nonFraction unitRef="eur" contextRef="ib999785fd75a42378851b956f2d60d6c_I20230131" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzEwNDQ1MzYwNDc5NDI3_23e83dc5-0e55-4c66-b62e-febf6b3f2631">1,000</ix:nonFraction> million euros Undated 10 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "March 2024 Notes"), irrevocably guaranteed by Telef&#243;nica, S.A. Telef&#243;nica Europe, B.V. accepted the purchase in cash of the tendered securities for an aggregate principal amount, with respect to the September 2023 Notes, of <ix:nonFraction unitRef="eur" contextRef="i30ba8783b0eb4afebc545da7936e9249_D20230101-20230131" decimals="-5" name="tef:AmountRepurchasedofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzEwNDQ1MzYwNDc5NDM0_fdb22b62-5bd3-4f60-9853-fda81ec63e73">388</ix:nonFraction> million euros, and an aggregate principal amount, with respect to the March 2024 Notes, of <ix:nonFraction unitRef="eur" contextRef="i6d811279a4fa40399ae02a0660b736b6_D20230101-20230131" decimals="-5" name="tef:AmountRepurchasedofEquityInstrument" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzEwNDQ1MzYwNDc5NDQx_dd0b62e9-7a79-4e76-a923-f8ff7f36c383">612</ix:nonFraction> million euros. The tender offer settled on February 3, 2023.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:28pt">On February 14, 2023, Telef&#243;nica, S.A. signed a bilateral loan of <ix:nonFraction unitRef="eur" contextRef="i0e649f645cb34cbaab2772d372efc188_I20230214" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjcvZnJhZzo1MTIyZWVmZmE3ODI0M2U0YWI0Njc0YzE0ZjMzOTJhMi90ZXh0cmVnaW9uOjUxMjJlZWZmYTc4MjQzZTRhYjQ2NzRjMTRmMzM5MmEyXzExNTQ0ODcyMTA3Nzc1_b3e0cfec-a717-4881-a265-c4111b08e0fd">150</ix:nonFraction> million euros and maturing in 2033.</span></div></ix:continuation><div id="i2ad619f032b2435680b3f6486d100018_370"></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfBasisOfConsolidationExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90ZXh0cmVnaW9uOjExMTU4YzRmOTE1MjRhNGI5YmMzMDFiZjMxMDljZGI0Xzg2NA_3019aaac-e047-4e48-a6a5-59d10be92275" continuedAt="ib20a835af559428283d521c1a013cc30" escape="true"><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix I: Scope of consolidation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The main companies of the Telef&#243;nica Group</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90ZXh0cmVnaW9uOjExMTU4YzRmOTE1MjRhNGI5YmMzMDFiZjMxMDljZGI0Xzg2Ng_fa686b0e-05d2-4f0d-84dd-24e90f3be3d2" continuedAt="ida4948abaccd4ee8a57e855e8d762bb2" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below lists the main companies comprising the Telef&#243;nica Group at December 31, 2022 and the main investments consolidated using the equity method.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Included for each company are the company name, corporate purpose, country, functional currency, share capital (in millions of functional currency units), the Telef&#243;nica Group&#8217;s effective shareholding and the company or companies through which the Group holds a stake.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Parent Company</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica,S.A.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-bottom:2pt 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U. <br/>Telecommunications 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</span></td></tr></table></div></ix:nonNumeric></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-158</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="ib20a835af559428283d521c1a013cc30" continuedAt="ic247781643ee490b8a8689e568b4b23e"><ix:continuation id="ida4948abaccd4ee8a57e855e8d762bb2" continuedAt="i56b9a39eabe14e2a998bbd9bd57774cf"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.<br/>Organization and operation of multimedia service-related business</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4820fe8216d40bb83534ae76938caf9_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzgtMy0xLTEtNTEwNDQy_e0340e7c-7292-4c77-88c7-d12067c4d226">226</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0d140bc2675f490f80d334a83ca5ed83_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Audiovisuales, S.A.U.<br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifd5166e45eaf48acbfb6af8efa652e8e_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzktMy0xLTEtNTEwNDQy_5a9ce664-f82d-4c42-aacf-afb538aa5825">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i457de573923844e69a9d6e0da8f1380d_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" 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name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzLTMtMS0xLTUxMDQ0Mg_745c21b4-f614-4371-ae4b-b2d5e6267744">16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2d2288980b524297a83481116fe88796_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" 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scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0LTMtMS0xLTUxMDQ0Mg_e47f1cb1-8eee-42f1-91bd-53f29a28c431">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id163253a447a4db8912d4369efcf14be_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0LTQtMS0xLTUxMDQ0Mg_6f8c1d5f-e1e3-4948-ad43-1fbb76fbc70c">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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#bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-159</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="ic247781643ee490b8a8689e568b4b23e" continuedAt="i131e65d615944c6eba0d0b4073e6595a"><ix:continuation id="i56b9a39eabe14e2a998bbd9bd57774cf" continuedAt="id167bb6bc4914733a23ad4c8062d6f98"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if749c7006f3c440ba3fb6dc595969164_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzMwLTQtMS0xLTUxMDQ0Mg_dfe35a74-8762-4ea2-acc9-9058bcc83555">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzMxLTMtMS0xLTUxMDQ0Mg_6663b031-a585-47e7-a133-1093db2a82db">394</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3b0d44eab38643238dcc6bd3faf631cf_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzMxLTQtMS0xLTUxMDQ0Mg_8a6dbaf6-78d9-4ed5-9a94-e9227d7bcccf">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (<ix:nonFraction unitRef="number" contextRef="i0b64b876586040dc8fa97c1ba82c6c13_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzMxLTUtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjk5OTUzZTllMmFjNzQ2ZTg4MjNhM2VkNmUyYWVlZjUwXzcxNDY4MjU1ODA2NDI_ac715dd4-462c-451f-81e6-cd8f6a262876">86.72</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Comtel Comunicaciones Telef&#243;nicas, S.A. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzMyLTMtMS0xLTUxMDQ0Mg_00f1289c-7614-4116-b459-b579438f101c">3,410</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i93dfdd4a587c468297be46ea1534487d_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzMyLTQtMS0xLTUxMDQ0Mg_79a9b098-7736-428f-92a6-ad89e9da5d2c">67.5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operaciones Tecnol&#243;gicas y Comerciales S.A.S<br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="cop" contextRef="ic754447a13ae43b88b361359a25ad66c_I20221231" decimals="-6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzMzLTQtMS0xLTUxMDQ0Mg_6b9b0e3c-f055-403f-8c44-141b7ec1ef21">67.5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones S.A. ESP BIC </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pegaso Pcs S.A. de C.V. <br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mxn" contextRef="i247a0969037d43b7a1660ef084650970_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM0LTMtMS0xLTUxMDQ0Mg_a9656159-004e-498d-aa75-0210d3b308ff">1,405</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ife9c55fdbcd94c9685edcde96a799ea8_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM0LTQtMS0xLTUxMDQ0Mg_d9e64d52-7a7d-4a88-97af-06741a71f9b5">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (<ix:nonFraction unitRef="number" contextRef="i9195131313054185b72f51bc75f9eaba_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM0LTUtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjkzOTdkZWUzMTUwYTQwNmJiYWMzMTUxMDExMjVkYWQxXzcxNDY4MjU1ODA2MzU_a63dabb6-5d59-46dc-b3e8-77bfca4c4768">99.95</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Celular de Telefon&#237;a S.A. de CV. (<ix:nonFraction unitRef="number" contextRef="i446d5f2aca17465ab70d8888a3e6f4be_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM0LTUtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjkzOTdkZWUzMTUwYTQwNmJiYWMzMTUxMDExMjVkYWQxXzcxNDY4MjU1ODA2NDM_bca7f3d9-ad6b-4b94-b244-348a4fdbeb60">0.05</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks M&#233;xico, S.A. de C.V.<br/>ISP, portal and real-time financial information services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mxn" contextRef="iea73117b428d4ef1a282fc94532f77d6_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM1LTMtMS0xLTUxMDQ0Mg_f532a499-8723-4ee7-b00f-cf8bc418c26c">305</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i82a43aaab5a343d0a9bfb16f23e81659_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM1LTQtMS0xLTUxMDQ0Mg_9c31392d-0931-4dc0-ac8a-494d89c7846f">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fisatel M&#233;xico, S.A. de C.V. SOFOM E.N.R.<br/>Integrated cash mangement, consulting and financial support for Group companies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mxn" contextRef="icb5833ddeedb493d87dfd1f85cc6b116_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM2LTMtMS0xLTUxMDQ0Mg_25e6259c-3ceb-42ef-a069-4158a606d96f">3,505</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i63d3448a65a240169a8085789244affe_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM2LTQtMS0xLTUxMDQ0Mg_c79fe503-f6e1-4235-ae7c-ea22d967e22f">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (<ix:nonFraction unitRef="number" contextRef="i13767c15be364d88a579f0448ac242e7_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM2LTUtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOmM2OWY5OGQ2ODNmMjQ0Mjg5ZDBhYzIyYWMzNjBiMjM1XzcxNDY4MjU1ODA2MjU_091f6768-7572-4796-9bb8-81fd2d00e4ad">99.99</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pegaso Pcs S.A. de CV. (<ix:nonFraction unitRef="number" contextRef="i44f3d0c4789242cf99a630e5bf59ef62_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM2LTUtMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOmM2OWY5OGQ2ODNmMjQ0Mjg5ZDBhYzIyYWMzNjBiMjM1XzcxNDY4MjU1ODA2MzM_dd9dee3b-7b77-4620-a6f4-578a74b4abae">0.01</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Otecel, S.A.<br/>Wireless communications services provider</span></td><td colspan="3" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ars" contextRef="i84c943d4012e4d548b090c6c3d848b81_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM4LTMtMS0xLTUxMDQ0Mg_b285f0af-d3e9-4a0b-b701-e0bff252d064">239,296</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3a01b5ef40a945c5b527ec254d1edb8a_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM4LTQtMS0xLTUxMDQ0Mg_6031fc46-8eff-40ae-8779-22c4a3e695f5">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Argentina, S.A. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzM5LTMtMS0xLTUxMDQ0Mg_8db8cc53-2c95-417a-81ca-165bf9468f04">27,201</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ifd69f9493df9492f859ad978a7d911f6_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" 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style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-160</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i131e65d615944c6eba0d0b4073e6595a" continuedAt="if3e9a83de40048ac848104601af1e857"><ix:continuation id="id167bb6bc4914733a23ad4c8062d6f98" continuedAt="iecc086bce3e84eb989ee865dc040a0c7"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inversiones Telef&#243;nica Internacional Holding SpA. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica del Per&#250;, S.A.A.<br/>Local, domestic and international long distance telephone service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="pen" contextRef="id3ed5bbbf2b04ac7bcc3c3da05779c5f_I20221231" 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scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzYzLTMtMS0xLTUxMDQ0Mg_57236535-f826-4fa4-8f14-39ace5be9bbd">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7f58c82285534bf8b6d287c380556670_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Chile Tecnolog&#237;a e Innovaci&#243;n Limitada<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="clp" contextRef="i1babead2b22f4a4fac66448b4fe5633b_I20221231" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="brl" contextRef="i72d0b28cfdcc4f94a4621ee3c25425b5_I20221231" 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#bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-161</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="if3e9a83de40048ac848104601af1e857" continuedAt="i1644c1551f14421fa6720d48a1482940"><ix:continuation id="iecc086bce3e84eb989ee865dc040a0c7" continuedAt="i549f9aba242147e09cadf372b3da1965"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lotca Servicios Integrales, S.L.<br/>Aircraft ownership and operation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0f2b3807a17045c78a05eb1983048fca_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fonditel Gesti&#243;n, Soc. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Investigaci&#243;n y Desarrollo, S.A.U.<br/>Telecommunications research activities and projects</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if82ea91a4b8e4c6eab6f10434a8f7c3f_I20221231" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i844439959d0d427bab6211815eccf865_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzkzLTMtMS0xLTUxMDQ0Mg_ab79cc09-403c-4d8b-9ba7-3d114f4e0a49">24</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i9d417dbd4d0443b4a3efa6e098a2e6e2_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzkzLTQtMS0xLTUxMDQ0Mg_2164f170-d1e8-4143-9588-b9b4961344e1">100</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Luxembourg Holding, S.&#224;.r.L. </span></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-162</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i1644c1551f14421fa6720d48a1482940" continuedAt="i24c58d5130424565b1c789255e0eff2c"><ix:continuation id="i549f9aba242147e09cadf372b3da1965" continuedAt="ia48d88362eed433cb69549c6919ad51c"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">iHackLabs Ltd.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audertis Audit Services S.L. <br/>Provision of audit services in the areas of security, privacy and data protection</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services S.L. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i20a628aa0e764328bd32ecf9f290979b_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzExNC0zLTEtMS01MTA0NDI_8313769d-d2e3-4deb-9938-1cf8a4eec217">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ibc04a3dec45b4f0ca10065d70a88944d_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzExNC00LTEtMS01MTA0NDI_89fa63b3-bee0-4a46-930f-3349c5e6c4b0">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="cop" contextRef="i23b69697b0ae4c038adb3831bef8ade8_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzExNS0zLTEtMS01MTA0NDI_097f5945-5473-44cb-9d2f-d1bcf3cccc74">406</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib180c64a036a4bd49651126ee1c1e5e1_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzExNS00LTEtMS01MTA0NDI_a7858dc1-f3d9-408c-876c-2205b4c07d8e">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Cybersecurity Tech Mexico, S.A de C.V.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3e139f1740704687995711e052a8450f_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzExNi00LTEtMS01MTA0NDI_b5da3772-5131-4c25-a407-7eca2e6b818c">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Otecel, S.A. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ireland Limited<br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ocean Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i8dbf1290e7c14c4986e977dc602bc164_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzMi00LTEtMS01MTA0NDI_a0828ecc-31d0-4ee4-8dac-74103c0c2322">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="i3d7ae6b3b0ac45e0ab2c5502bb8b187c_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzMy0zLTEtMS01MTA0NDI_50984df8-00a7-4ff2-b4d4-684c15dfa903">4</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iff68a3764e8a48d49ad3f6dff17d65a0_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzMy00LTEtMS01MTA0NDI_48c5e0d7-861d-4672-af47-2460b0c87ccc">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i44d22c094515426b96ad7b8e8aa615eb_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzNC00LTEtMS01MTA0NDI_f2a8b3dd-8cf1-4c7f-887a-772eb1f83f43">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="ic8d53fdd680647e1bfac37d151777b06_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzNS0zLTEtMS01MTA0NDI_b6c3d025-d7be-44c6-95a0-b2b5312e161c">3</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="i8379cd6568d14e8ea300df62d2e5a847_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzNi0zLTEtMS01MTA0NDI_ec89f7cb-086d-48bc-b90b-8388624e7e50">1</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Redspire Limited<br/>Software development and information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="i4f44bc545602449ba3e9896c8684ce6d_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzNy0zLTEtMS01MTA0NDI_89b1a4b3-ad9c-46bc-b0f4-a4d4ad4bbcc0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i45ac8047691c49aa9a02964d10715290_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzNy00LTEtMS01MTA0NDI_0cd80d23-c5fd-46bc-88d8-69e37cf266ee">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Limited <br/>Information technology consultancy activities and other services activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid 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#bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ief51ca818c85490ea1bda1e7d50eef72_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzOC00LTEtMS01MTA0NDI_a35fdf62-5a9f-4017-ad1f-f3f331f138ed">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="ia1e980724fa14f6f86bbb65c2224ae74_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzOS0zLTEtMS01MTA0NDI_247becee-22e3-485c-88db-055fa8ac4984">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i01132c589af14ef5a923743614d83114_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzEzOS00LTEtMS01MTA0NDI_7592f1c5-f28e-4a6a-a09a-779cd917b9ed">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="i341ef0b1997a48fe9a8f6bf64d6b3804_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ni0zLTEtMS03MTMzMDQ_0ec40490-9e14-4604-b78d-fcc02c832a60">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id694bae8ed2a454c96d3cab41bff4ce4_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ni00LTEtMS03MTMzMDQ_cfbfc40d-c428-4e56-aaf3-935a655167d0">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis BG LTD <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bulgaria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BGN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="bgn" contextRef="i94c25d5ca6a144238541c20fab43e134_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ny0zLTEtMS03MTMzMDQ_3ce38303-bef0-4ed0-8ab4-7460884a2690">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="idc1671e0361a4a37bb03497ee67e57b4_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ny00LTEtMS03MTMzMDQ_b1aad746-cd2c-4af0-82d8-b08f1f5ef82a">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis India Private Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">India</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">INR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="inr" contextRef="i9b4f04189ac64b768f0b2420c022d2ac_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0OC0zLTEtMS03MTMzMDQ_a8ba2f15-cc4f-4696-8551-dfb9a641c1df">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iab11d3765b014d68a92b6933120aaf04_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0OC00LTEtMS03MTMzMDQ_3bde27bd-ead1-46ae-9da6-a34b0ec122f9">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited (<ix:nonFraction unitRef="number" contextRef="i375359e35a024027a773d7777627f940_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0OC01LTEtMS03MTMyOTYvdGV4dHJlZ2lvbjo3ODhkNGJkNGJhNDE0MjQwOTVhMDRkNzc4ZjJiMzUyOV83MTQ2ODI1NTgwNjA4_2c00de7d-efdc-4a80-a751-ee5bc7f33e4b">99</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited (<ix:nonFraction unitRef="number" contextRef="if6422368d90c4b2abb1963f30688d9bb_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0OC01LTEtMS03MTMyOTYvdGV4dHJlZ2lvbjo3ODhkNGJkNGJhNDE0MjQwOTVhMDRkNzc4ZjJiMzUyOV83MTQ2ODI1NTgwNjEz_2788208b-51cc-48a9-990c-8fe8f0804314">1</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kumo Analytics Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="i5baa31b26bb54c19b6132af8de3db116_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0OS0zLTEtMS03MTMzMDQ_3f98651a-81a7-40a9-924e-7e67ed30b03c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3c5d02e9460448daa47052a2f1b3982a_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0OS00LTEtMS03MTMzMDQ_e3a00d2c-3c23-41d8-a93e-bc8cdf564782">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Managed Services Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" contextRef="i5dc580f390404987a21b4ea16cb4e530_I20221231" decimals="-6" name="ifrs-full:Equity" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1MC0zLTEtMS03MTMzMDQ_67d04dc7-a55b-495c-9dbf-8824efe8f3e5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i88de59c96e624c69948ff3a7913e3385_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1MC00LTEtMS03MTMzMDQ_d5b3b6f9-1b9f-4bb3-b2dc-87ceb0e416c3">100</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-164</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i5626c1cf5c6e4f3bb038a2afdbba2d4d" continuedAt="i7d6fbbacbd2c4c5db18327e4098fa8e9"><ix:continuation id="i20ba541cdb684db2aa6bd3c0f2eac54b" continuedAt="i34bb9d2cd0de4dacaffba0f15b72c3f8"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i8653bb96f3824e90b962d1960700bca8_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2OS00LTEtMS03MTMzMDQ_d46e0fb5-bcc8-425c-a1dd-50b3362e474c">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i03b21e725638479bbcc266245731a37e_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Mi00LTEtMS01MTA0NDI_7be503b9-c5b8-4991-9cb8-32f5a806b475">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i10bbf61feb6e4c99b9dd8bed85880505_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3My0zLTEtMS03MTMzMDQ_937ed5b6-af69-444c-a7d8-b07c33906f2b">417</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i207ec926110d4b839d7ca12d40b7b571_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3My00LTEtMS03MTMzMDQ_dcb1699d-9ef6-4366-a8d8-fabfeb9196d6">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib4f9721e3c0c4519a1f728700626ec0d_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0NC0zLTEtMS01MTA0NDI_af1497c8-763a-4a82-997a-192259330499">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i307fbb6b7c1147a280a0af92fa1fb9c9_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0NC00LTEtMS01MTA0NDI_a25ff79f-8e6f-4203-86a0-759c902cf49d">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Rep&#250;blica Dominicana, S.A.S.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Republica Dominicana</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i482b589509fb462ebde9bbf0bf68f467_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0NS0zLTEtMS01MTA0NDI_fb36740c-70c1-4b38-a5fa-28d325563fa6">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib0690767a75e4255b717f26f3f0af883_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0NS00LTEtMS01MTA0NDI_2ec18f86-d757-42b4-a71d-038763980fd6">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (<ix:nonFraction unitRef="number" contextRef="idee2f883d74344c3852e92a976b4ec49_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0NS01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo1ZWI3OWI5NGY2ZmM0NmJjOGU5MmRmMTU1MjUzZjQ4Nl83MTQ2ODI1NTgwNjI3_c18c7a0e-42a8-40ca-bf66-41c6427c5ecc">49.51</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (<ix:nonFraction unitRef="number" contextRef="ia74ed4456eac479da93fef862d1fa265_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0NS01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo1ZWI3OWI5NGY2ZmM0NmJjOGU5MmRmMTU1MjUzZjQ4Nl83MTQ2ODI1NTgwNjM1_49f2c869-d1cf-42be-877e-1f7653540ada">0.5</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A.<br/>Operation and deployment of telecommunications infraestructure</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i9627077837ee4c09b7f4d72d19827c4b_I20221231" decimals="-6" name="ifrs-full:Equity" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ni0zLTEtMS01MTA0NDI_62de8ec6-f9d3-492c-b72d-18f01941e75c">78</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ie51fc23f04bd4844966871a45d4a0e04_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ni00LTEtMS01MTA0NDI_c708a456-8ee5-499c-86d4-08d0274f29b8">50.01</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (<ix:nonFraction unitRef="number" contextRef="ib9391b2198a14ed5a237a3d9e3bf9a3a_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ni01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo1NzlkZjQ0Mzk4YTM0ODVhODFiNzVkNmE5N2FjMTE5Y183MTQ2ODI1NTgwNjI3_99b0c51d-44a2-4e84-9c5e-1c939119795f">49.98</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (<ix:nonFraction unitRef="number" contextRef="i40b2c77347164a558bbe9dcda47cd570_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE0Ni01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo1NzlkZjQ0Mzk4YTM0ODVhODFiNzVkNmE5N2FjMTE5Y183MTQ2ODI1NTgwNjM0_372b1139-852c-4358-91a5-ed49fb76ff28">0.03</ix:nonFraction>%)</span></div></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-165</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i7d6fbbacbd2c4c5db18327e4098fa8e9" continuedAt="i8bb62d2ce1f748ecb3eca58f85e7f967"><ix:continuation id="i34bb9d2cd0de4dacaffba0f15b72c3f8" continuedAt="if906db042d1a4137b6767409f9b38555"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Panam&#225;, S.A.<br/>Installation and operation of telecommunications networks for wholesalers</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Panama</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Ecuador, S.A.<br/>Sale of usage of data transmission capacity via an underwater optical fibre network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i5d64cd7d739a461db1a729dabff05b11_I20221231" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Chile, S.A.<br/>Involvement in businesses related to public or private telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="i070aab1b571846b1ac47fb670ba3cd35_I20221231" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Guatemala, S.A.<br/>Installation and operation of telecommunications networks for wholesalers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guatemala</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="usd" contextRef="ia4c62f7f6bc34b2ba5aadb26e7880443_I20221231" 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(<ix:nonFraction unitRef="number" contextRef="icaaa435a107e4b8cb28b216a60c93a89_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1Mi01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo5MDhiNTkxODhkNjU0NzI4YTM1NGQ4MjFkOTEwMDU5Ml83MTQ2ODI1NTgwNzM1_ab19c515-8f6b-4cc0-9ba0-7a26eedcdbc4">47.5</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Chile, S.A. (<ix:nonFraction unitRef="number" contextRef="id3415ee2422c43a1bbf7dd7b3fd960b7_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1Mi01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo5MDhiNTkxODhkNjU0NzI4YTM1NGQ4MjFkOTEwMDU5Ml83MTQ2ODI1NTgwNzQz_cc281757-48db-4147-823d-e93575f9ccd3">0.83</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Per&#250;, S.A.C. (<ix:nonFraction unitRef="number" contextRef="id260887773f1498d8a18311cab46051f_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1Mi01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo5MDhiNTkxODhkNjU0NzI4YTM1NGQ4MjFkOTEwMDU5Ml83MTQ2ODI1NTgwNzUx_e4454785-fea3-4f26-81ee-25bd59670dbb">0.84</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Guatemala, S.A. 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(<ix:nonFraction unitRef="number" contextRef="i51895f3bbd0148fa81cb45694c19ef17_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1NC01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo2ODA3YjJjNTQyODQ0ZTQ3OGZmZDlkNGY1NDY1MTc2ZF83MTQ2ODI1NTgwNjcw_7e0f9d47-0ae1-442b-be46-b3f3afc2b0b0">0.5</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A. 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1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Limited <br/>Integrated provider of fixed and mobile services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ibff2c591bcfe438da691e8bc77f4c4ea_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1Ni00LTEtMS01MTA0NDI_d700d99b-7ebb-4e9d-ae4f-1104149c497a">50</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica O2 Holdings  Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestrutura e Fibra &#211;tica S.A.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="brl" contextRef="i9186bc7229e7443f8d0b4c2e8f4e1d71_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1Ny0zLTEtMS01MTA0NDI_c608ccdf-1f9b-4c49-a390-561362f21a17">2</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4ffceaa92cd8404c895e192a35a92ef0_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1Ny00LTEtMS01MTA0NDI_52d048be-421e-4e05-a4ee-94b23d8957ce">43.7</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A. 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(<ix:nonFraction unitRef="number" contextRef="ic4bea9be070446a68917ca8428bb9807_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE1Ny01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjo0NGQ3ZmQyYWQyMGM0ZDZkOGU3NmM3NWI3Mzg3ZjE4Y183MTQ2ODI1NTgwNjI2_05c0cc61-7b7c-4760-8432-61c7d19209c0">25</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="clp" contextRef="ibce70b40c3634b6380b6005fc1ec2798_I20221231" decimals="-6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Infraco SpA.<br/>Operation of physical fibre optic infrastructure</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="clp" contextRef="i394943acee0d4c7480abc6f9f2fddb83_I20221231" decimals="-6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i93d32b5a24854f01994a41520524f2b7_I20221231" decimals="-6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Do Brasil, Ltda.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="brl" contextRef="i1aa214e1ca364c2e8485bc5903812108_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2Mi0zLTEtMS01MTA0NDI_ec5b9812-2c9d-4a41-8ad9-bed34e6a42b9">5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4e91ce15562f43a7a6e484b4a6b342e1_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2Mi00LTEtMS01MTA0NDI_23ef4b6a-c253-4882-a1e9-5230d8e5674b">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. 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(<ix:nonFraction unitRef="number" contextRef="ia801dc5f9c79463a965e06b5c53012c2_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2Mi01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjpmMjBhNTI5NzIwMTk0OWYyYjZlNWRiMGE1NzE1ZGQ0OV83MTQ2ODI1NTgwNjMx_5799a89d-8ef5-4ef1-b299-c9448ae4da38">10</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Mexico, S.A. de C.V. SOFOM ENR<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mxn" contextRef="i5fc70c60ed0f44a7ba9cf634168a32ec_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE5Ni0zLTEtMS03MTMzOTM_09062dc4-fbdc-4b27-809c-fadd802a6458">34</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i9924dc61b2a444f48571d0d8cd95f84a_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE5Ni00LTEtMS03MTMzOTM_16929cd2-6ee2-452b-9e01-0da31b583684">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (<ix:nonFraction unitRef="number" contextRef="i385a8d931936467dbe2068fd238b0a27_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE5Ni01LTEtMS03MTMzNzgvdGV4dHJlZ2lvbjplZjlmZDUyYjZhNjg0ZTE3ODA2NDUxZDBhY2RlZjgyMF83MTQ2ODI1NTgwNjIx_1f32c079-c59f-46df-a862-e88a8d73423c">40.5</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (<ix:nonFraction unitRef="number" contextRef="i1122ba4ac90b4a4d9b60dcc6680f8e15_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE5Ni01LTEtMS03MTMzNzgvdGV4dHJlZ2lvbjplZjlmZDUyYjZhNjg0ZTE3ODA2NDUxZDBhY2RlZjgyMF83MTQ2ODI1NTgwNjI5_e722e475-1375-48e4-abed-b22b90cfd102">9.5</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Per&#250;, S.A.C.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="pen" contextRef="ide504588429143ba99f79c0ec42b1c0c_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NC0zLTEtMS01MTA0NDI_130f7c72-504c-4dab-b8a3-8eaa4b1ebddb">6</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id89d48ac49e548bca3318442b4a42d4f_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NC00LTEtMS01MTA0NDI_808183ae-696e-4298-bece-19a093ba2c71">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (<ix:nonFraction unitRef="number" contextRef="iaa020f5eb9fe4dfa96306e21cd4e5e58_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NC01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjoxOWExZTMxOGUwZjc0NTZmOGNmNjE2OWYzMjJhYTFkOF83MTQ2ODI1NTgwNjIx_344bbefa-b39c-445f-b79f-e287f0137607">40.5</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (<ix:nonFraction unitRef="number" contextRef="i2d357d285e1b4d208f014ebe9c2fc569_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NC01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjoxOWExZTMxOGUwZjc0NTZmOGNmNjE2OWYzMjJhYTFkOF83MTQ2ODI1NTgwNjI5_631ce619-f2fb-4d1c-ac7f-de7c90095ee5">9.5</ix:nonFraction>%)</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Colombia, S.A.<br/>Factoring services provider</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="cop" contextRef="ifbb44025bf9c4f1e9721eecd8a22bea0_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NS0zLTEtMS01MTA0NDI_a966aed2-ddb4-4b4f-915b-88ae19a66f14">4,000</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2ffda3fefce64ff2af51e18ed2c1d3fd_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NS00LTEtMS01MTA0NDI_c1c9fe76-517d-4cd4-b729-5b907fe7b1bc">50</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (<ix:nonFraction unitRef="number" contextRef="iac2d8988de214f979e1b8ddbaaf59622_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NS01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjowMWJmOGNkMzdlZGI0NWMyYWZjM2Y1ODMxMjNkMzNhZV83MTQ2ODI1NTgwNjIx_55526b5e-d247-46a9-a83b-d5e95d5de90e">40.5</ix:nonFraction>%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (<ix:nonFraction unitRef="number" contextRef="ib17de7fa88554a3fa4cfeba6c81b1fdd_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE2NS01LTEtMS01MTA0NDIvdGV4dHJlZ2lvbjowMWJmOGNkMzdlZGI0NWMyYWZjM2Y1ODMxMjNkMzNhZV83MTQ2ODI1NTgwNjI5_f1fd33cd-61cd-4350-b243-72de5b3e9f11">9.5</ix:nonFraction>%)</span></div></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-166</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><ix:continuation id="i8bb62d2ce1f748ecb3eca58f85e7f967" continuedAt="i7147a503a0304162a9c6525be96b8b57"><ix:continuation id="if906db042d1a4137b6767409f9b38555" continuedAt="i9bf1acba4cf641ef93bac4e0b4288d50"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.525%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method (cont.)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i96e9567091434bd2b44032852d192ad9_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" 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ESP BIC  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ONNET Fibra Colombia S.A.S.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="cop" contextRef="i5962a887e474443a82446ef6a8573b52_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3MS0zLTEtMS01MTA0NDI_006fdc3f-422e-44a6-94ef-3083f49164d8">45,852</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ie2475c5da8a844048ddbf9c6ec82bb68_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3MS00LTEtMS01MTA0NDI_0a7c13a9-c048-41b4-b12b-78ed37507663">27</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Smart Steps Data Technology Company<br/>Big data services in China</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">China</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CNY</span></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ifb897147ff0a438da401b58e7488ffd7_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIwNS00LTEtMS03MTMzOTM_304b9011-165c-4763-9747-06eb79c4fefc">37.5</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib4a2be097c864f1692faf168d11c4aa5_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIwNi00LTEtMS03MTMzOTM_ea50ad77-45dc-461a-824e-12bbc28cffe1">54.09</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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#bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i39890a1421d14a96859877ce5d5b585a_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIwNy0zLTEtMS03MTMzOTM_bacaa081-3865-4f17-b0ac-50f492f67060">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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#bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icb0779d897ce4cdd9cefeb4a8007ecff_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIwOC0zLTEtMS03MTMzOTM_636e0983-8035-4dfd-9ad1-908097661498">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia684274e7b8e477389ff5cc143d75aa6_D20220101-20221231" decimals="3" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIwOC00LTEtMS03MTMzOTM_ed631d9b-5bbe-49c7-a463-1178eaffe5ae">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i06bd7b92e7c14bb0a5b726a5e9937ec9_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIwOS0zLTEtMS03MTMzOTM_ff013564-e112-49a8-99a0-0e5ec29da174">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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#bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib6c224eef93647d685d1b132f3072730_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIxMC0zLTEtMS03MTMzOTM_e0f2eaf1-32b8-472e-a693-ffa69a591b06">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib9efa733342b455da12d0c31df8906b5_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIxMC00LTEtMS03MTMzOTM_f898d3a1-04f1-47c7-9f4a-cbf4ab1a346b">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Uno, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i83ff2fd5d14347b88fbbc2592634d972_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIxMS0zLTEtMS03MTMzOTM_9e39f001-8a8d-410f-a536-0d60ed2e8f05">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia92db177100a4a41b5df1b3e942c6b2d_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIxMS00LTEtMS03MTMzOTM_904a1243-0b6c-4216-87a2-b6bacedac87e">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Dos, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ec1ea8ffbce476eb40eae9e627b99c4_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIxMi0zLTEtMS03MTMzOTM_ce66e92a-f623-4fa8-ab4e-fe91121a632e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i507f706e21a34cc085edb229d9a39b2a_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIxMi00LTEtMS03MTMzOTM_6da51fc7-efe4-44bd-91fd-e15903a945df">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Canarias, S.L.U <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5d0da8787eef46c8adb080f54147f88a_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzIxMy00LTEtMS03MTMzOTM_554f1867-385c-4eb7-8c72-ae1171ecabfa">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Bizkaia, S.L.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie71e4881d39047989c31271db3b47a12_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3Mi0zLTEtMS01MTA0NDI_b98cd803-7964-454c-9ddc-f2c8456f3aa0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="icc570bbbc29c4acbbae16ab8fb5f41e6_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3Mi00LTEtMS01MTA0NDI_ff2dcce7-c892-4eeb-b936-4c645f9456ef">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 de Repsol y Movistar S.L. <br/>Development and marketing of photovoltaic self-consumption products and/or services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibf894e6b39af4657a296e1bae5ece8be_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3My0zLTEtMS01MTA0NDI_a18acfd2-1eb5-4eb7-8747-0db0de08bce0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic8ac826b4307452d90ad219cdacbe4ee_D20220101-20221231" decimals="2" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3My00LTEtMS01MTA0NDI_b6dd773c-5527-4c9b-9098-5c92cb20c6c8">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG TopCo/HoldCo General Partner GmbH. <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8aea13ecdbc54b67ab3087163d87ec06_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3NC0zLTEtMS01MTA0NDI_1f70728b-9daf-4b90-9375-ac3eb3b66357">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i43f418d56b4f44ddb29c836ac3c57618_D20220101-20221231" decimals="4" name="ifrs-full:ProportionOfOwnershipInterestInSubsidiary" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpkNTFkZjc0NDM3NjY0ODYzOTJhYjQ4NjJkZDc3ZWM1Ny90YWJsZXJhbmdlOmQ1MWRmNzQ0Mzc2NjQ4NjM5MmFiNDg2MmRkNzdlYzU3XzE3NC00LTEtMS01MTA0NDI_db58a38d-13fb-48a8-b06c-0b6e4cfcc77a">47.06</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra Germany GmbH. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG General Partner GmbH <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3d6de586fa834e33b9233ea5fffc89f6_I20221231" decimals="-6" name="ifrs-full:InvestmentAccountedForUsingEquityMethod" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unsere Gr&#252;ne Glasfaser GmbH &amp; Co KG <br/>Broadband telecommunications operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia3ea4c08bd33417aa7bcf41c3cdfaf71_I20221231" decimals="-6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Renting, S.A.<br/>Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="gbp" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Holdco Limited</span></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-167</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><ix:continuation id="i7147a503a0304162a9c6525be96b8b57" continuedAt="ia6f2fb245fa44a628ad1f958d4204ba9"><ix:continuation id="i9bf1acba4cf641ef93bac4e0b4288d50" continuedAt="ief3f65d5abec4a19b920dd7b591a1c54"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Main changes in the scope of consolidation for the year 2022</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Acquisition of new companies</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:62.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ifd306050583540d382eb431fa9391212_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic8d53fdd680647e1bfac37d151777b06_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzExLTMtMS0xLTcxMzY5NQ_8aae154a-fd67-4860-b414-ed0f94af606b">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i8379cd6568d14e8ea300df62d2e5a847_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzEyLTMtMS0xLTcxMzY5NQ_bf214b0a-255b-4a25-a16e-467957df500d">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Redspire Limited<br/>Software development and information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4f44bc545602449ba3e9896c8684ce6d_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzEzLTMtMS0xLTcxMzY5NQ_87564f7c-200e-4420-89ef-787fc602e777">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Limited <br/>Information technology consultancy activities and other services activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5c9e1e87bfb64c74b8b71d5e19ecf2db_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzE0LTMtMS0xLTcxMzY5NQ_52360571-8d07-47a7-a4d3-5edaf57ea630">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia1e980724fa14f6f86bbb65c2224ae74_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzE1LTMtMS0xLTcxMzY5NQ_08886b43-9d3f-4419-a5c7-9ec4b20f9a2c">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i341ef0b1997a48fe9a8f6bf64d6b3804_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzE2LTMtMS0xLTcxMzY5NQ_760d746e-e8b1-4a7a-8160-2566dc33e017">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis BG LTD <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bulgaria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i94c25d5ca6a144238541c20fab43e134_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzE3LTMtMS0xLTcxMzY5NQ_1c538ab9-2fc3-434a-a20d-e3ff680b6071">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis India Private Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">India</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i9b4f04189ac64b768f0b2420c022d2ac_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzE4LTMtMS0xLTcxMzY5NQ_dc3be1e1-4dbc-400f-b5a6-46504ff288ef">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kumo Analytics Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5baa31b26bb54c19b6132af8de3db116_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i50e9ae5bd5a24ab29f56d40757b1911e_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia3e0b8840df54040a271d325cf4ac6fd_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzI0LTMtMS0xLTcxMzY5NQ_e9554121-be3a-407f-a3d3-e92e5f07ab2f">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna AB (Sweden)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sweden</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="idca61d98adba460d805afa8e62d311aa_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0e80aab6322c427bb2f6a5310043076a_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Denmark</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i60d2f59bbbda4306aaf269bb4051884a_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzI3LTMtMS0xLTcxMzY5NQ_6959b8b7-62a2-479d-9cfa-c8deb95064f1">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna B.V. (Netherlands)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i26629a85197140848d9a6c14bd204697_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzI4LTMtMS0xLTcxMzY5NQ_25f50754-25ea-428e-8e41-3ef4d66455a4">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Leipzig)<br/>Software production, electronic data processing, consultancy, services and project management</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i41b9078d0a3741a0a263f805c094734d_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzI5LTMtMS0xLTcxMzY5NQ_93917102-c7ee-4550-b117-d2fb708e8fe4">100</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-168</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ia6f2fb245fa44a628ad1f958d4204ba9" continuedAt="i78b45ef2289f433a9e6cfe728693229b"><ix:continuation id="ief3f65d5abec4a19b920dd7b591a1c54" continuedAt="ib03733684dc146f9865523dac8844faf"><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:62.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id773be94c5a94253991cb1fd3b9c99a1_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzMwLTMtMS0xLTcxMzY5NQ_4be0f030-f7de-45c6-9d00-3a7e9c5a5751">100</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)<br/>Services in automatic data processing and information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ie24570b059a64d34b4ef615c5873b57a_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzMxLTMtMS0xLTcxMzY5NQ_47ce87a6-9462-4068-afaf-60836413cbf2">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pipol A/S<br/>Conduct business with international implementation of business-oriented software solutions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dinamarca</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i69ceeae3c6bb402391240056e0d78b1b_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzMyLTMtMS0xLTcxMzY5NQ_8bce4181-3d55-4638-8686-360d47b8eb40">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;A/S (Norway)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Norway</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i646bbf9030d2449a9a256452e42eaf75_I20221231" 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</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i7776fc8d33114bf8967f8c3049583bc8_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzM2LTMtMS0xLTcxMzY5NQ_38150de3-9971-47e7-9c9e-510fc22bcf93">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic d.o.o<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzM3LTMtMS0xLTcxMzY5NQ_96863190-9c33-45ec-ad70-a934a54fcbb7">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Belgrade (Serbia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Serbia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia69d133deb6b47cab0771a38d33a1b35_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzM4LTMtMS0xLTcxMzY5NQ_e9502992-7bee-4b94-8ee0-9fcfe2060639">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Ljubijana (Slovenia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzM5LTMtMS0xLTcxMzY5NQ_20301975-7091-4c7e-b4ff-3d97ecc4288f">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Zagreb (Croatia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Croatia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i63742e40f23e4695b1af15542cfe34b6_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i96e9567091434bd2b44032852d192ad9_I20221231" decimals="2" name="tef:PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzQyLTMtMS0xLTcxMzY5NQ_622b897c-03d1-445b-94a9-99e2411b71fe">27</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ONNET Fibra Colombia S.A.S.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5962a887e474443a82446ef6a8573b52_I20221231" 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i9dd9f81379034f169364023734bd8612_I20221231" decimals="2" name="tef:PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzQ0LTMtMS0xLTcxMzY5NQ_2f62289f-bc5a-40b0-b6ef-1e5f1e21c562">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liberty Global Investment Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i42488d55fc5746f4bfb46443acaf445c_I20221231" decimals="2" name="tef:PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo5NTkzNzRkYzE0YWI0YzY3OWJhZTk1ZmJjNmI5N2RiMi90YWJsZXJhbmdlOjk1OTM3NGRjMTRhYjRjNjc5YmFlOTVmYmM2Yjk3ZGIyXzQ1LTMtMS0xLTcxMzY5NQ_7f31ca4e-6b7b-499a-9518-f3282fa677cb">50</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Incorporation of companies&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:62.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.628%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 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#bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 Soluciones de Instalacion y Mantenimiento S.L. <br/>Marketing and management in the installation, sale and maintenance of photovoltaic equipment</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ibf4befe4932445bf880761f913f16fa0_I20221231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo1MmIxMGRkOTVjZTI0NGM1OTRlZDA1YjljNGQ4NWY5NC90YWJsZXJhbmdlOjUyYjEwZGQ5NWNlMjQ0YzU5NGVkMDViOWM0ZDg1Zjk0XzMtMy0xLTEtNzEzODIx_0ce2361f-cb33-4a5b-a11a-ee85b5fb3616">51</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="if749c7006f3c440ba3fb6dc595969164_I20221231" decimals="INF" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TIS Hispanoam&#233;rica, S.L. <br/>Security services and systems</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/01/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i595bb4e40e824423beda246ce4a4067d_I20221231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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#bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ie71e4881d39047989c31271db3b47a12_I20221231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo1MmIxMGRkOTVjZTI0NGM1OTRlZDA1YjljNGQ4NWY5NC90YWJsZXJhbmdlOjUyYjEwZGQ5NWNlMjQ0YzU5NGVkMDViOWM0ZDg1Zjk0XzEwLTMtMS0xLTcxMzgyMQ_a757f0b3-feaf-4049-a720-db70aaca2faf">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 de Repsol y Movistar S.L. <br/>Development and marketing of photovoltaic self-consumption products and/or services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ibf894e6b39af4657a296e1bae5ece8be_I20221231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo1MmIxMGRkOTVjZTI0NGM1OTRlZDA1YjljNGQ4NWY5NC90YWJsZXJhbmdlOjUyYjEwZGQ5NWNlMjQ0YzU5NGVkMDViOWM0ZDg1Zjk0XzExLTMtMS0xLTcxMzgyMQ_fbd85525-0f08-40b1-bcaa-924f42dc86ea">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Renting, S.A.<br/>Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ifb0372f51f904b7387f64e68789c8be8_I20221231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTo1MmIxMGRkOTVjZTI0NGM1OTRlZDA1YjljNGQ4NWY5NC90YWJsZXJhbmdlOjUyYjEwZGQ5NWNlMjQ0YzU5NGVkMDViOWM0ZDg1Zjk0XzEyLTMtMS0xLTcxMzgyMQ_a2dfdd30-4769-452d-b300-997601e780b7">50</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div></ix:continuation></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-169</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i78b45ef2289f433a9e6cfe728693229b" continuedAt="i79d3af4e9d9e4c9f8188ae7a42927ebc"><ix:continuation id="ib03733684dc146f9865523dac8844faf" continuedAt="i77ef1ed20b4d44a8809c69f42999b0b9"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Merged companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:62.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Surviving company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Compa&#241;&#237;a Independiente de Televisi&#243;n, S.L. <br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U.</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Divestment companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"></td><td style="width:58.136%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.129%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.220%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.115%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Sold</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.U.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" 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style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador, S.A. de C.V.<br/>Provision of wireless and international long distance communications services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">El Salvador</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" style="border-top:2pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZToyNzUyYTg0MzczZDA0NjhmODQ5NGEzZmY3NDEwYjM3MS90YWJsZXJhbmdlOjI3NTJhODQzNzNkMDQ2OGY4NDk0YTNmZjc0MTBiMzcxXzQtMy0xLTEtNzEzOTM0_31a0dd15-42bc-4b61-a11c-ff06345e2ca7">50</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i42488d55fc5746f4bfb46443acaf445c_I20221231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZToyNzUyYTg0MzczZDA0NjhmODQ5NGEzZmY3NDEwYjM3MS90YWJsZXJhbmdlOjI3NTJhODQzNzNkMDQ2OGY4NDk0YTNmZjc0MTBiMzcxXzUtMy0xLTEtNzU3OTAy_470be6ad-5c99-4e9a-a6a9-6ca0b7802851">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liquidated companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"></td><td style="width:58.136%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.129%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.220%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.115%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity Tech Argentina S.A. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i88c0481d77e246c4aaf7e86767e18165_I20221231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpmNWRhMjczN2MzNjQ0ZDBkOGI1MjBjMDM4OGU0YzYyYi90YWJsZXJhbmdlOmY1ZGEyNzM3YzM2NDRkMGQ4YjUyMGMwMzg4ZTRjNjJiXzItMy0xLTEtNzE0MDA3_c5a68039-98d5-4c9f-bfc4-855c6893e3ad">100</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sao Paulo Telecomunica&#231;oes Participa&#231;oes Ltda<br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2854213c3c9e47c9a1ac0ee7907ee727_I20221231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTpmNWRhMjczN2MzNjQ0ZDBkOGI1MjBjMDM4OGU0YzYyYi90YWJsZXJhbmdlOmY1ZGEyNzM3YzM2NDRkMGQ4YjUyMGMwMzg4ZTRjNjJiXzMtMy0xLTEtNzE0MDA3_647b3f14-9a5d-445b-b119-a5fff589a859">100</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div></ix:continuation></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-170</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i79d3af4e9d9e4c9f8188ae7a42927ebc" continuedAt="i5604e4b5f2424b4ba41c88b1cefd7097"><ix:continuation id="i77ef1ed20b4d44a8809c69f42999b0b9" continuedAt="i49b27e187bee41e493be675a94c4a31c"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Main changes in the scope of consolidation for the year 2021</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Acquisition of new companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:62.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td 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style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i8f9b05c0bab74680b6408565ca08c6bc_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzYtMy0xLTEtNTEwNDQy_9484ec45-1678-4340-a2ce-886016d6f4c0">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Managed Services Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzctMy0xLTEtNTEwNDQy_d621ada6-bb52-40fb-81e2-9a2ceb589a56">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i28011152f6c545efb82c0a8a5c77e514_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzgtMy0xLTEtNTEwNDQy_96e54606-737e-47a7-80dc-053619e15a21">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited <br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i27fcd2aa20794a75a307337dee720321_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzktMy0xLTEtNTEwNDQy_c1965d0a-9c1d-4997-a9f2-a4b28fd1f80d">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Communication &amp; Collaboration Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2088a70a468e4c358175f1a513844fb1_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzEwLTMtMS0xLTUxMDQ0Mg_55cc70de-f15e-4585-a5a8-d824ecf23806">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i802d620380694615bbee14fef83fb197_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzExLTMtMS0xLTUxMDQ0Mg_d83b2d54-c831-4e84-ab2b-d5cfe5960a45">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cancom Ireland Limited <br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id44bf640ad324af984827fccaa9ef93e_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzEyLTMtMS0xLTUxMDQ0Mg_01f380d8-4c98-4060-a8ba-6e6572eb8db0">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ocean Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib7f3cd0b8b3d4e3dbab34e408c91e6fd_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzEzLTMtMS0xLTUxMDQ0Mg_13997eeb-14f8-473e-803b-55f5a419a54c">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prosegur Soluciones S.A.U.<br/>Private security services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2e76c310d59242fda1b15641a34c66d1_I20211231" decimals="2" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzE1LTMtMS0xLTUxMDQ0Mg_48b03118-fae5-4300-8073-483e3e84f216">100</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco S.L.<br/>Securities transactions</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/31/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib77b081a640242bb98dd03ef73fd89cc_I20211231" decimals="4" name="ifrs-full:PercentageOfVotingEquityInterestsAcquired" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowYzJlM2U5MTFlYjQ0ODg4ODQzZmI2NDEyODI5Mzk5OC90YWJsZXJhbmdlOjBjMmUzZTkxMWViNDQ4ODg4NDNmYjY0MTI4MjkzOTk4XzE2LTMtMS0xLTUxMDQ0Mg_61b6018c-9106-4f8e-a515-f3b45317ebed">13.94</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-171</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><span><br/></span></div><div><span><br/></span></div><div><span><br/></span></div><ix:continuation id="i5604e4b5f2424b4ba41c88b1cefd7097" continuedAt="i66abe1f2d34c4e70ad05b2b530a4d220"><ix:continuation id="i49b27e187bee41e493be675a94c4a31c" continuedAt="id4e480907209490e9440132c9581a774"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Incorporation of companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:62.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.628%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZToxMzJjMjYzMDViNDI0YTFhYWI5YjdhODM0NDEyM2M1ZC90YWJsZXJhbmdlOjEzMmMyNjMwNWI0MjRhMWFhYjliN2E4MzQ0MTIzYzVkXzItMy0xLTEtNTEwNDQy_431d1d53-88e2-4aac-b518-8ecd98257099">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions Germany GmbH. <br/>International service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4fb9b0168dab40ebaaf9fcd42130cf1d_I20211231" decimals="2" name="tef:PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZToxMzJjMjYzMDViNDI0YTFhYWI5YjdhODM0NDEyM2M1ZC90YWJsZXJhbmdlOjEzMmMyNjMwNWI0MjRhMWFhYjliN2E4MzQ0MTIzYzVkXzYtMy0xLTEtNTEwNDQy_986453d9-fb49-4409-ac03-7090d59704dc">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Uno, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZToxMzJjMjYzMDViNDI0YTFhYWI5YjdhODM0NDEyM2M1ZC90YWJsZXJhbmdlOjEzMmMyNjMwNWI0MjRhMWFhYjliN2E4MzQ0MTIzYzVkXzctMy0xLTEtNTEwNDQy_064039e2-dfbb-44ad-a23a-fc8c53a7c10d">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Dos, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i1a53309f65444a33b389ab99be45a7e4_I20211231" decimals="2" name="tef:PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies" scale="-2" 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1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestrutura e Fibra &#211;tica S.A.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i6b657dc45afe447f981ece47f4eadc31_I20211231" decimals="4" name="tef:PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZToxMzJjMjYzMDViNDI0YTFhYWI5YjdhODM0NDEyM2M1ZC90YWJsZXJhbmdlOjEzMmMyNjMwNWI0MjRhMWFhYjliN2E4MzQ0MTIzYzVkXzEwLTMtMS0xLTUxMDQ0Mg_ebfd68d3-3f28-465d-a098-ae78eae9792c">43.55</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Limited <br/>Integrated provider of fixed and mobile services</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia4c6d3737e6246e3b56416341b58dc82_I20211231" decimals="2" name="tef:PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZToxMzJjMjYzMDViNDI0YTFhYWI5YjdhODM0NDEyM2M1ZC90YWJsZXJhbmdlOjEzMmMyNjMwNWI0MjRhMWFhYjliN2E4MzQ0MTIzYzVkXzExLTMtMS0xLTUxMDQ0Mg_642a8e32-d5f9-4890-bf95-db7ea2941b72">50</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Merged companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"></td><td style="width:62.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.022%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Surviving company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services Per&#250; S.A.C. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Per&#250; S.A.C </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cyberrange S.L. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ace &amp; Niu Consulting S.L.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services S.L. </span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Innovaci&#243;n Alpha, S.L. <br/>Electronic communications and  audiovisual services provider</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2021</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr></table></div></ix:continuation></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-172</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i66abe1f2d34c4e70ad05b2b530a4d220"><ix:continuation id="id4e480907209490e9440132c9581a774"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Divestment companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.625%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.695%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.443%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.837%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Sold</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inmosites, S.A.U.<br/>Purchase and leasing of real estate related to the telecommunications infrastructure business</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 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solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i92c2fe9a27f346fe9a10ca30ab22ac6e_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzMtMy0xLTEtNTEwNDQy_775e0d2d-d1d3-45c1-9d55-b661100786d2">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Espa&#241;a, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4057acc5db474c7899b64df0a91dc95c_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzQtMy0xLTEtNTEwNDQy_5f4b9c77-8b2e-44a0-ad4c-7297ab59533c">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Towers Germany, Gmbh.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ie6e3f24da9f74078a51caa30c64e3fe3_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzUtMy0xLTEtNTEwNDQy_a983a08b-6526-444f-978e-a1dc322abf74">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Per&#250; S.A.C.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i510551f781494514a5e4c754d7f2adb0_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzYtMy0xLTEtNTEwNDQy_76b2d001-65d6-4126-85b6-1f41828297ab">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Chile Holding, S.A.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i6bf09c81d9ae4e38a536d5bbdd7fd959_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzctMy0xLTEtNTEwNDQy_3cb5535d-34c1-4f82-abfc-56b30b7d6eef">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Chile, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iad9af5192dd14c4dbbf9dbb00ccb1011_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5dda78f1db7c4b69b6bb1b299cf65ddc_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzktMy0xLTEtNTEwNDQy_9648d911-ed78-4ccd-914f-2b3a041aa7c2">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inmosites Brasil Participa&#231;oes Imobiliarias Ltda <br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i1b7fe28832ce49968909aca0e0de26fc_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzEwLTMtMS0xLTUxMDQ0Mg_0d1e018b-6878-4432-ba18-180de9c3cd5e">50.01</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i08a23eb6488b4a3597651b63e4b2ef8d_I20211231" decimals="4" name="tef:PercentageofShareCapitalSold" scale="-2" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costa Rica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i1a9550f4375f4d7da6f61d775a1fc049_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzEyLTMtMS0xLTUxMDQ0Mg_45ab0220-bf1a-4ca8-8248-4754023edf32">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i10ff2a47312a4932850d89375bfef8cb_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzE0LTMtMS0xLTUxMDQ0Mg_045c9fd8-0777-416d-aca4-0fb5fa697e53">60</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Holdings Ltd<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic97651b3b391400cb72728f85a80e696_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzE2LTMtMS0xLTUxMDQ0Mg_a123a25b-6ccd-49b9-ad57-41c88ce9e90e">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom Ltd.<br/>Wireless communications</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="if4ed0b90dd76489b9cddf4b0f5a87044_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzE3LTMtMS0xLTUxMDQ0Mg_f2716729-5f1c-4cd0-bc53-4f77bb1a8bf8">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Giffgaff Ltd<br/>Wireless communications services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i1b28f6f822054147b0c20ef441cc255e_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzE4LTMtMS0xLTUxMDQ0Mg_38e2447d-ea9a-4d90-abc0-4930e4fe4580">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Networks Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i5928d193a0ef4815947a3e49427fafe2_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzE5LTMtMS0xLTUxMDQ0Mg_950a1e5b-6d3a-4bc5-aa02-65dfd742ed7f">50</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cornerstone Telecomunications <br/>Network sharing</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="idcdd48de44d842c09a690855aad7648a_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzIwLTMtMS0xLTUxMDQ0Mg_031d57b9-0e96-44a8-8629-5ea9a66db8da">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tesco Mobile Ltd.<br/>Wireless telephony services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia257c4946d444a4fa41f484712f43bc7_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzIxLTMtMS0xLTUxMDQ0Mg_ce96572d-eb74-4843-a62a-ff3067fe466e">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity Tech UK Limited  <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id18616ea70e04ce7ab3c39e6cbbec645_I20211231" decimals="2" name="tef:PercentageofShareCapitalSold" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90YWJsZTowNWExNmU2ZTQ2Mjc0NDkwODY1ZGNlM2JkY2FmYTNlYy90YWJsZXJhbmdlOjA1YTE2ZTZlNDYyNzQ0OTA4NjVkY2UzYmRjYWZhM2VjXzIyLTMtMS0xLTUxMDQ0Mg_567e2b79-f481-401e-8c08-931ac2726e1a">50</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div></ix:continuation></ix:continuation><div style="margin-bottom:11pt"><span><br/></span></div><div style="margin-bottom:11pt"><span><br/></span></div><div style="margin-bottom:11pt"><span><br/></span></div><div style="margin-bottom:11pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-173</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_373"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfBoardAndSeniorManagementCompensationTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI1NTEw_870aca78-164f-4819-b077-506166b42ea1" continuedAt="i7942b22c00c345d5bc30d831d9f431fa" escape="true"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Appendix II: Board and Senior Management Compensation</span></div><ix:continuation id="ic28913f1c7a04edbbc1dac50c9d56b01" continuedAt="i595a75bbed5343d08e0044d5465fae52"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TELEF&#211;NICA, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros)</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.818%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.765%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.260%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i531c8d3a2d2a4b6f880362fadb6d7470_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationSalary" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzEtMS0xLTEtNTEwNDQy_d752f34e-a118-4465-9e9a-e7ab3f76692f">1,923,100</ix:nonFraction>&#160;</span></td><td 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style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i084eb70c94d14a7fab92bdcaf9fbf67c_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzMtNC0xLTEtNTEwNDQy_46e38ca0-d265-43e0-b4ca-768984c399d0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 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0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaa9decd6f86d4a2f96d63a3336dce1ae_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationAttendanceFees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzYtMy0xLTEtNTEwNDQy_0dea879c-458b-44e1-819e-be717187145f">30,000</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaa9decd6f86d4a2f96d63a3336dce1ae_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzYtNC0xLTEtNTEwNDQy_41c2475a-b890-4ba9-9b8a-18afc1161f81">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 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1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaa9decd6f86d4a2f96d63a3336dce1ae_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensationOtherLongtermBenefits" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzYtNi0xLTEtNTEwNDQy_982bb316-ce16-4e82-95fd-adac21965196">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaa9decd6f86d4a2f96d63a3336dce1ae_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzYtNy0xLTEtNTEwNDQy_6953bbd4-7a71-43cf-8ca5-c8b7a1f8f1c0">183,600</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span 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0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5487c8c5f90448a2a3cc73d102f47f05_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationFixedCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzctMi0xLTEtNTEwNDQy_837f9498-1bfd-449a-8c9b-a1157897c7d2">120,000</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5487c8c5f90448a2a3cc73d102f47f05_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationAttendanceFees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzctMy0xLTEtNTEwNDQy_b743e146-b99e-4649-afc4-65ec76590a3c">19,000</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5487c8c5f90448a2a3cc73d102f47f05_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzctNS0xLTEtNTEwNDQy_4b003599-d2d2-48c1-9879-7f3b7f15a7af">113,600</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5487c8c5f90448a2a3cc73d102f47f05_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzctNy0xLTEtNTEwNDQy_879340fe-b8ea-43f9-9a34-9bfc484f25f8">252,600</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span 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0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i22f44fec7e414a6d99c0aa1a3529ee09_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationAttendanceFees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzgtMy0xLTEtNTEwNDQy_cc6dc02e-d0f0-4cd0-88a6-23d5fe5fccef">32,000</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i22f44fec7e414a6d99c0aa1a3529ee09_D20220101-20221231" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensationShorttermEmployeeBenefits" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzgtNC0xLTEtNTEwNDQy_5978b2be-96db-47b2-bce1-b8150f748297">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 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0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8f3e1b5a147141278732f7015488d397_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationAttendanceFees" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTo2ZmNlMGI5Y2Q5YzI0MjRiYTUyZDI4ZTQ1ZTM0OTVlMC90YWJsZXJhbmdlOjZmY2UwYjljZDljMjQyNGJhNTJkMjhlNDVlMzQ5NWUwXzktMy0xLTEtNTEwNDQy_4706e352-8733-4c70-9fe6-dd28b4002310">32,000</ix:nonFraction>&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" 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within a period of time equal to or less than a year, corresponding to the year 2022 and to be paid in the year 2023. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzEwNTM_64bbe5b4-80f3-454a-913e-ac067ce3c430">2,640,000</ix:nonFraction> euros. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Commission and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. </span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">6</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telef&#243;nica, S.A.</span></div></ix:continuation></ix:nonNumeric><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-174</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i7942b22c00c345d5bc30d831d9f431fa" continuedAt="i4443192c34ad42b891606e46c5f020d1"><ix:continuation id="i595a75bbed5343d08e0044d5465fae52" continuedAt="i402fe2a71d7a48099f727ff3d39e7e5c"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table breaks down the amounts accrued and/or received from other companies of the Telef&#243;nica Group other than Telef&#243;nica, 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: </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OTHER COMPANIES OF THE TELEF&#211;NICA GROUP</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"></td><td style="width:27.105%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.290%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.100%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.608%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.418%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.497%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.803%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">5</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other items</span><span 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style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telef&#243;nica Group for his/her executive functions.  </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 Telef&#243;nica Group. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 2022 and to be paid in the year 2023 by other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Remuneration for belonging to the Board Committees of other companies of the Telef&#243;nica 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 Telef&#243;nica Group, regardless of the effective attendance of the board member such Committee meetings.</span></div></ix:continuation><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline"><ix:continuation id="i402fe2a71d7a48099f727ff3d39e7e5c" continuedAt="i0c9679bca10d4e298f9b38255e0667fb">6.</ix:continuation></span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"><ix:continuation id="i0c9679bca10d4e298f9b38255e0667fb"> 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 Telef&#243;nica Group. Also included are the amounts received for membership of the Advisory Boards of Telef&#243;nica Espa&#241;a, Telef&#243;nica Hispanoam&#233;rica, Telef&#243;nica Tech and Telef&#243;nica Ingenier&#237;a de Seguridad.</ix:continuation> </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Additionally, as mentioned in the Remuneration Policy section, the Executive Board Members have a series of Assistance Services. 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style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros)</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:54.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:43.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contributions for fiscal year 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i97a0bed5e5d747dd9fc10c5946e07a2e_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpiMDRiOTRmZjg3MWU0YWIzOWY4MzBmYzM5YTg0Yzk0Yi90YWJsZXJhbmdlOmIwNGI5NGZmODcxZTRhYjM5ZjgzMGZjMzlhODRjOTRiXzEtMS0xLTEtNTEwNDQy_4c8fe896-2d4b-4315-ab35-0c9c201bf19e">673,085</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i754bcda293104852903f9f2463f30d01_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpiMDRiOTRmZjg3MWU0YWIzOWY4MzBmYzM5YTg0Yzk0Yi90YWJsZXJhbmdlOmIwNGI5NGZmODcxZTRhYjM5ZjgzMGZjMzlhODRjOTRiXzItMS0xLTEtNTEwNDQy_883776be-006c-433a-a7da-fecfa4b1e7e9">560,000</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-175</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i4443192c34ad42b891606e46c5f020d1" continuedAt="i49c639adb7854392b73a79474b06f514"><ix:continuation id="id5fbcd7b050b47c79c95d5c45ab1808f" continuedAt="ie53a67796d3140fbb6e4a246385ab464"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:38.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.298%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.350%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contribution to Pension Plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contribution to Executive Social Welfare Plan</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contributions to Unit link-type Insurance/Pension Plan Surplus</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">2</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic117f615244c42eba50a38a3872ae82b_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpjYzYwMjUxYmIyNjg0NTU5YTM3NmI0NjEwYjNlMzM4Zi90YWJsZXJhbmdlOmNjNjAyNTFiYjI2ODQ1NTlhMzc2YjQ2MTBiM2UzMzhmXzEtMS0xLTEtNTEwNDQy_14acd18f-f70e-42d9-b157-c15974c80e5e">7,574</ix:nonFraction></span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9563df0522c04c85a11b7c4fc368eed5_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpjYzYwMjUxYmIyNjg0NTU5YTM3NmI0NjEwYjNlMzM4Zi90YWJsZXJhbmdlOmNjNjAyNTFiYjI2ODQ1NTlhMzc2YjQ2MTBiM2UzMzhmXzEtMi0xLTEtNTEwNDQy_2ff71fb9-a873-4028-8b57-24ada02a95b8">540,968</ix:nonFraction></span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i28224915bff8499583cbe7badc6b2526_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpjYzYwMjUxYmIyNjg0NTU5YTM3NmI0NjEwYjNlMzM4Zi90YWJsZXJhbmdlOmNjNjAyNTFiYjI2ODQ1NTlhMzc2YjQ2MTBiM2UzMzhmXzEtMy0xLTEtNTEwNDQy_5de2a700-f6ab-4486-bae6-b5b33282ed99">124,543</ix:nonFraction></span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8e15970f7ef547dc9fe2a7c1dd850d90_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpjYzYwMjUxYmIyNjg0NTU5YTM3NmI0NjEwYjNlMzM4Zi90YWJsZXJhbmdlOmNjNjAyNTFiYjI2ODQ1NTlhMzc2YjQ2MTBiM2UzMzhmXzItMS0xLTEtNTEwNDQy_9af7e95d-c2a3-4d43-961f-fd5e95fcc841">6,721</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i49c9f3542d5243298f08695decd54098_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpjYzYwMjUxYmIyNjg0NTU5YTM3NmI0NjEwYjNlMzM4Zi90YWJsZXJhbmdlOmNjNjAyNTFiYjI2ODQ1NTlhMzc2YjQ2MTBiM2UzMzhmXzItMi0xLTEtNTEwNDQy_9fc73567-4049-462d-ab89-bb87e1f18e19">487,840</ix:nonFraction></span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9442eca79a394ef88b8b5edff4b3b09c_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTpjYzYwMjUxYmIyNjg0NTU5YTM3NmI0NjEwYjNlMzM4Zi90YWJsZXJhbmdlOmNjNjAyNTFiYjI2ODQ1NTlhMzc2YjQ2MTBiM2UzMzhmXzItMy0xLTEtNTEwNDQy_3a125b77-c70a-4171-bd02-40af7ac7c73b">65,439</ix:nonFraction></span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 Telef&#243;nica Group. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Contributions to Unit link-type Insurance/Pension Plan Surplus: In 2015 and 2021, 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.  </span></div></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"><ix:continuation id="ie53a67796d3140fbb6e4a246385ab464">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 &#8220;Pension Plan&#8221; and the same exceptional liquidity events in case of serious illness or long-term unemployment.</ix:continuation> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2022 amounts for life insurance premiums were as follows: </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfLifeInsurancePremiumsOfKeyManagementPersonnelCompensationTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI1NDM4_8bc01bf1-57d4-4463-81d6-7e4c6e42b896" escape="true"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LIFE INSURANCE PREMIUMS </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:54.536%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:43.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Life insurance premiums</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9f19c55c0b754d209807aba23eb9b6c6_D20220101-20221231" decimals="0" name="ifrs-full:ExpenseArisingFromInsuranceContracts" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTplYTY0YjMwNmVhMGY0MGM3OWRmOGE5ZTI0MWEwNmIwYy90YWJsZXJhbmdlOmVhNjRiMzA2ZWEwZjQwYzc5ZGY4YTllMjQxYTA2YjBjXzEtMS0xLTEtNTEwNDQy_0a2f2f40-5072-4886-93c0-6fa92113c454">74,699</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9e6ceee11cd04ef8be8c6b27cfff1d00_D20220101-20221231" decimals="0" name="ifrs-full:ExpenseArisingFromInsuranceContracts" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTplYTY0YjMwNmVhMGY0MGM3OWRmOGE5ZTI0MWEwNmIwYy90YWJsZXJhbmdlOmVhNjRiMzA2ZWEwZjQwYzc5ZGY4YTllMjQxYTA2YjBjXzItMS0xLTEtNTEwNDQy_f95eb9c3-4783-4bc9-9765-674a6f20b717">58,820</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:nonNumeric><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REMUNERATION PLANS BASED ON SHARES</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As regards to remuneration plans based on shares (involving Executive Directors), the following long-term variable remuneration plans were in existence during the year 2022:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The so-called </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Performance Share Plan ("PSP"), made up of <ix:nonFraction unitRef="cycle" contextRef="i8c6855ef86614d1fa68e6ebac9281b97_D20180608-20180608" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI1Mjg4NzY3NDY2NDIy_c998a096-354d-48c9-ba42-383bfde3fcce">three</ix:nonFraction> cycles (2018-2021; 2019-2022; 2020-2023), </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">approved by the General Shareholders' Meeting held on June 8, 2018. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The maximum number of Telef&#243;nica shares to be delivered depends (i) <ix:nonFraction unitRef="number" contextRef="i47a1dce67c93438f9778a27ecf43ed13_D20200101-20200101" decimals="2" name="tef:MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1OTQyOTE4NjY4MzI4_201e0569-cfdd-43f9-9d22-154c50992721">50</ix:nonFraction>% of the compliance with the targets set out for Total Shareholder Return ("TSR") on Telef&#243;nica, S.A. shares with respect to the TSRs of a comparison group of companies in the telecommunications sector weighted according to their relevance to Telef&#243;nica, and (ii) <ix:nonFraction unitRef="number" contextRef="i5a6bda232e8b4cb7a1d5bde10d6ebc62_D20200101-20200101" decimals="2" name="tef:MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1OTQyOTE4NjY4MzMy_32e13dd4-b806-4cbb-8cac-469172970fd9">50</ix:nonFraction>%, of the Free Cash Flow (the "FCF") of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The target measurement period for the First Cycle started on January 1, 2018 and ended on December 31, 2020, resulting in a weighted payout ratio of <ix:nonFraction unitRef="number" contextRef="i68716975b15043c09ffadf6707723005_D20180101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzcyNzU_2693425e-b9df-47ab-aea6-d2d43fb2e12f">50</ix:nonFraction>%. Notwithstanding the foregoing, the Executive Chairman stated to the Nominating, Compensation and Corporate Governance Committee, at its meeting of February 23, 2021, that he considered it appropriate to propose his waiver of the incentive, as a gesture of responsibility towards the company, customers, shareholders and employees of Telef&#243;nica, as well as a measure of prudence following the economic effects derived from COVID-19. The CEO expressed the same view. The resignation was accepted by the Board of Directors. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The target measurement period for the Second Cycle started on January 1, 2019 and ended on December 31, 2021, resulting in a weighted payout ratio of <ix:nonFraction unitRef="number" contextRef="i6b17d36aa9ec431e892d4c9f96905a10_D20190101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1OTQyOTE4NjY4MzIx_f8009eb6-669c-48b3-b7a5-cef09081ac35">50</ix:nonFraction>%. The evaluation of the degree of compliance was carried out on the basis of the evolution of the share price, as well as the audited results of the Company. Thus, at the end of the Plan's Second Cycle, Executive Directors received <ix:nonFraction unitRef="employee" contextRef="ic4b5e82dabd345deb8bb6185d87a74c1_D20210101-20211231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI0NzM5MDExNjkzMTQ5_d9d9f4bd-c987-4147-9f82-9414ac1a2a1f">234,000</ix:nonFraction> gross shares in the case of the Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, and <ix:nonFraction unitRef="employee" contextRef="i8bb152de7f16483aa15933304ff91873_D20210101-20211231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI0NzM5MDExNjkzMTU4_360b71f8-c198-47d7-a203-5d93aeebdeb7">173,500</ix:nonFraction> gross shares in the case of the Chief Operating Officer (C.O.O.) Mr. &#193;ngel Vil&#225; Boix.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target measurement period of the Third and last Cycle started on January 1, 2020 and ended on December 31, 2022.</span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-176</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i49c639adb7854392b73a79474b06f514" continuedAt="i507e6c0323954970a3b3f62fe2a5daed"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">This Cycle had a maximum of <ix:nonFraction unitRef="eurPerShare" contextRef="i1ce125a9287344b88f44de64973a8f12_D20200101-20200101" decimals="4" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0Xzc5NDA_fdd8ae8d-fb21-449b-80e2-a1c0f036c185">465,000</ix:nonFraction>  shares allocated on January 1, 2020, to the executive Directors, with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="i0798b0b2638b4e5cb99ab8f37c94a78c_D20200101-20200101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzgwMzU_c68bb1d7-1054-4038-8281-74723a208c09">3.2136</ix:nonFraction> euros per share for FCF ("Free Cash Flow") and <ix:nonFraction unitRef="eurPerShare" contextRef="i7289a9b564b54087be531113d2aadd44_D20200101-20200101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzgwODU_b60a730a-9305-4d8b-acf2-f7eb909cb341">1.6444</ix:nonFraction> 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 Total Shareholder Return for Telef&#243;nica, 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">With respect to Free Cash Flow objective, considering the partial fulfillment of 2020, 2021 and 2022, the average weighted payment coefficient is <ix:nonFraction unitRef="number" contextRef="i4360621ff36d40e09a079747755e1440_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0Xzg2Mjg_96187329-b743-4892-9543-055a54b81452"><ix:nonFraction unitRef="number" contextRef="ib5364ff712e949fd97d98929544e692c_D20220101-20221231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0Xzg2Mjg_ef21f7b6-5edb-480d-9fc6-14f38237e6b4"><ix:nonFraction unitRef="number" contextRef="i9650e3f401f84260b2463a3d6ba97ade_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0Xzg2Mjg_f46715ae-66a3-462e-97d5-c2212815d6bb">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>%. 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Thus, at the end of the Plan's Third and last Cycle, Executive Directors are entitled to receive <ix:nonFraction unitRef="shares" contextRef="i5320da8bdcb04f9a98ff592c189988dd_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzkwMzk_835a8f27-42b5-4a11-a767-67fd117faaf6">133,500</ix:nonFraction> gross shares in the case of the Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, and <ix:nonFraction unitRef="shares" contextRef="i0ee58c2cd02143fdb0a95e98eeed9a78_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzkxMzY_1dc8ca25-7d19-413b-84ec-ba53d76210e0">99,000</ix:nonFraction> gross shares in the case of the Chief Operating Officer (C.O.O.) Mr &#193;ngel Vil&#225; Boix. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the denominated </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Performance Share Plan (PSP), consisting of three cycles (2021-2024; 2022- 2025; 2023-2026),</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> approved by the Ordinary General Meeting of Shareholders held on April 23, 2021, was also in force during the financial year 2022.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were two Cycles of the Plan in force during the 2022 financial year. The First Cycle, which started on January 1, 2021 and will end on December 31, 2023. If targets are met, the shares will be delivered in 2024. And the Second Cycle, which started on January 1, 2022 and will end on December 31, 2024. If targets are met, the shares will be delivered in 2025.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In both Cycles, the number of Telef&#243;nica, S.A. shares that, within the established maximum, could be delivered, as the case may be, to the Participants, is conditioned and is determined based on the compliance of the established targets: <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1OTQyOTE4NjY4MzA4_e2c5e7d1-444c-4d0e-b8cf-d56966a9c1cf">50</ix:nonFraction>% of the compliance of the Total Shareholder Return objective (the TSR) of the Telef&#243;nica, S.A. share, <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1OTQyOTE4NjY4MzEy_2a87af57-5cd0-4060-9b8e-6b77e4160cdd">40</ix:nonFraction>% of the generation of Free Cash Flow of the Telef&#243;nica Group (the FCF), and <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1OTQyOTE4NjY4MzA0_655c6d63-f835-4f3b-87b9-70bcdcf58dad">10</ix:nonFraction>% of the Neutralization of CO2 Emissions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">To determine compliance with the TSR target and calculate the specific number of shares to be delivered for this concept, the performance of the TSR on Telef&#243;nica, S.A.'s shares will be measured during the measurement period of each three-year cycle, in relation to the TSRs experienced by certain companies in the telecommunications sector, weighted according to their relevance to Telef&#243;nica, S.A., which for purposes of the Plan will constitute a comparison group (hereinafter the "Comparison Group"). The companies included in the Comparison Group are listed below: Am&#233;rica M&#243;vil, BT Group, Deutsche Telekom, Orange, Telecom Italia, Vodafone Group, Proximus, Koninklijke KPN, Millicom, Swisscom, Telenor, TeliaSonera, TIM Brasil, and Liberty Global.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to complying with the TSR objective, the Plan will foresee that the number of shares to be delivered associated with meeting this objective will range from <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1ODMz_9bc121a9-373c-4387-9f87-284157144992">15</ix:nonFraction>% of the number of theoretical shares assigned, assuming that the TSR performance of Telef&#243;nica, S.A. shares is at least the median of the comparison group, to <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE1OTk0_b21dbfbd-f711-414f-ab27-a983a534b011">50</ix:nonFraction>% if the performance is in the third quartile or above in the Comparison Group, with the percentage calculated by linear interpolation for cases falling between the median and third quartile.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to determine the compliance with the FCF objective and calculate the specific number of shares to be delivered for this concept, the FCF level generated by the Telef&#243;nica Group during each year will be measured and compared to the value set in the budgets approved by the Board of Directors for each financial year.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the FCF, for each of the two cycles in force during the fiscal year 2022, the Board of Directors, at the proposal of the Appointments, Remunerations and Corporate Governance Committee, determined a scale of achievement that includes a minimum threshold of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMinimumThresholdPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE2NzM2_26a1cff0-1b07-48f4-ba07-1aa6caad35a9">90</ix:nonFraction>% compliance, below which no incentive is paid and compliance with which will entail the delivery of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGenerationMinimumCompliance" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE2ODM4_0d191234-7688-424d-9766-a06b5ef7a6f6">20</ix:nonFraction>% of the theoretical shares assigned, and a maximum level of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMaximumThresholdPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE2OTAw_6cbd4bb1-c547-4a96-b0ce-95ed4a996658">100</ix:nonFraction>% compliance, which will entail the delivery of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE2OTQ5_d861eda7-4300-424a-a4d2-84c1e11b2adb">40</ix:nonFraction>% of the theoretical shares assigned.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To determine compliance with the CO2 Emissions Neutralization target and calculate the specific number of shares to be delivered for this item, the level of CO2 emissions neutralization achieved at the end of the cycle will be measured, with the incentive being paid upon reaching a certain level of scope 1 + 2 emissions reduction. </span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-177</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i507e6c0323954970a3b3f62fe2a5daed" continuedAt="i98e4f334877c4f37b56a47dc4e4abe5a"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The level of direct and indirect CO2 emissions from our daily activity shall be calculated according to the following:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CO2 Emission = Activity x Emission Factor, where:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">-  Activity: Amount of energy, fuel, gas, etc. consumed by the Company.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">-  Emission Factor: Amount of CO2 emitted to the atmosphere by the consumption of each unit of activity.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The emission factor provided by official sources (European Union, Ministries, CNMC, etc.) is used for electricity and the GHG Protocol emission factors are used for fuels.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the beginning of both cycles, the Board of Directors, at the proposal of the Appointments, Remunerations and Corporate Governance Committee, determined a scale of achievement that includes a minimum threshold of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMinimumThresholdPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE4MjI3_78a700ba-06bd-4e38-9b45-8ea6fac25e50">90</ix:nonFraction>% compliance, below which no incentive is paid and compliance with which will entail the delivery of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumCompliance" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE4MzI5_f5e49230-b464-4127-b8f3-ff2e2d2dd4f7">5</ix:nonFraction>% of the theoretical shares assigned, and a maximum level of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMaximumThresholdPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE4Mzkx_6a04dfa3-503c-4bf8-91ac-d936ecb9562d">100</ix:nonFraction>% compliance, which will entail the delivery of <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE4NDQw_8d75b74e-e258-4b60-9e74-b8ac2f6124fb">10</ix:nonFraction>% of the theoretical shares assigned. In addition, a minimum level of emission reductions of Scope 1 + 2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> will need to be achieved for the incentive to be paid.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In any case, <ix:nonFraction unitRef="number" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="2" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE4Njc5_acf7e74b-34ae-4bce-af9e-d1eb1f2a19d3">100</ix:nonFraction>% of the shares delivered under the Plan to the Executive Directors and other Participants as determined by the Board of Directors shall be subject to a <ix:nonNumeric contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriod" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI1NTAw_79da4307-9fe6-45c8-9062-afbc1480bda8">two-year</ix:nonNumeric> holding period.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, in accordance with the provisions of the Remuneration Policy for Directors of Telef&#243;nica, SA, the Executive Directors must maintain (directly or indirectly) a number of shares (including those delivered as remuneration) equivalent to <ix:nonFraction unitRef="y" contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationValueOfSharesToBeMaintainedByDirectorsNumberOfYearsOfGrossFixedRemuneration" format="ixt-sec:numwordsen" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE5MTA1_2aebd7cb-b915-4765-9690-608437319bed">two</ix:nonFraction> years of their Gross Fixed Remuneration, as long as they continue to belong to the Board of Directors and perform executive functions. Until such time as this requirement is met, the holding period for any shares delivered under the Plan to Executive Directors will be <ix:nonNumeric contextRef="id680a4925ab64b83951641283d98eca8_D20220101-20221231" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE5Mzc3_e5af66a3-0c13-4cda-833b-ba3d57f42c56">three years</ix:nonNumeric>.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The maximum number of allocated shares to be delivered in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the First and Second Cycle of the Plan is shown below.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PSP - First Cycle / 2021-2024 </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:DisclosureOfPerformanceAndInvestmentPlanKeyManagementPersonnelCompensationTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzQxMjMxNjg2MTA2MDc0_1b5f8822-a692-4cdb-80f0-7f025b29bf11" continuedAt="i01a971909c5c4814b721546eeb33b6ed" escape="true"><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"><tr><td style="width:1.0%"></td><td style="width:52.045%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.755%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum number of shares </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i6f0d31e79720436db4efae6bb78f93b3_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTphZDU3NGYyOWU5ZjA0OTE1YjRlZmQ5YWY5MTE1ZTEwNi90YWJsZXJhbmdlOmFkNTc0ZjI5ZTlmMDQ5MTViNGVmZDlhZjkxMTVlMTA2XzEtMS0xLTEtODUyMzU4_64135ed8-bb72-4a82-87b5-22cb3a5714c1">1,094,000</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i17e7d0e17df341abb812714d98ff1354_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTphZDU3NGYyOWU5ZjA0OTE1YjRlZmQ5YWY5MTE1ZTEwNi90YWJsZXJhbmdlOmFkNTc0ZjI5ZTlmMDQ5MTViNGVmZDlhZjkxMTVlMTA2XzItMS0xLTEtODUyMzU4_b527d964-0945-40e7-b262-a28faccbebca">819,000</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(*)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions  target. </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></ix:nonNumeric><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In any case, it is noted that no shares have been delivered to Executive Directors under the first cycle of the PSP and that the above table only reflects the number of potentially deliverable shares, without in any way implying that all or part of the shares will actually be delivered.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PSP - Second Cycle / 2022-2025 </span></div><div style="text-align:justify"><ix:continuation id="i01a971909c5c4814b721546eeb33b6ed" continuedAt="i414172aaf4314e7e89544911afc48bb3"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"><tr><td style="width:1.0%"></td><td style="width:52.045%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.755%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum number of shares </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="ia3b64bb05cd84a5f9ba7310916b7c6f0_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTozMjEzYTlmMDcyNTI0ZGI3OGQ2Y2EyYjI2YWJlZjQ5YS90YWJsZXJhbmdlOjMyMTNhOWYwNzI1MjRkYjc4ZDZjYTJiMjZhYmVmNDlhXzEtMS0xLTEtODUyMzk2_6779ed84-1cad-4431-9ca1-e90bfc8dbb01">995,000</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="shares" contextRef="i698c02d4b2b944aeb4f101d60bb28fe1_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90YWJsZTozMjEzYTlmMDcyNTI0ZGI3OGQ2Y2EyYjI2YWJlZjQ5YS90YWJsZXJhbmdlOjMyMTNhOWYwNzI1MjRkYjc4ZDZjYTJiMjZhYmVmNDlhXzItMS0xLTEtODUyMzk2_fd1d2d7d-2d43-4686-8dc4-69824e8ecbfa">745,000</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></ix:continuation></div><div style="text-align:justify"><ix:continuation id="i414172aaf4314e7e89544911afc48bb3"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(*)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions target.</span></ix:continuation><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In any case, it is noted that no shares have been delivered to Executive Directors under the second cycle of the PSP and that the above table only reflects the number of potentially deliverable shares, without in any way implying that all or part of the shares will actually be delivered.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, Telef&#243;nica, S.A. General Meeting of Shareholders held on April 8, 2022, approved a new Global Telef&#243;nica, S.A. Incentive Share Purchase Plan for Telef&#243;nica Group Employees, in which the Executive Directors participate as a token of their commitment to the Company and in order to encourage other employees to participate in the Global Plan. The Plan will end in March 2024, and the maximum amount that each employee can allocate to it is <ix:nonFraction unitRef="eur" contextRef="ib255457ff2f74d8bb53433a3e3b03b3c_D20220408-20220408" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationAmountContributedByEachExecutiveDirector" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzE5Nzg3_40901156-f1c4-4bcc-a4c3-33515c91e648">1,800</ix:nonFraction> euros.</span></div></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-178</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i98e4f334877c4f37b56a47dc4e4abe5a" continuedAt="i97b6b014fab84f2485fef13ed2e2c67c"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, it should be noted that the external directors of the company do not perceive nor have perceived remuneration during the year 2022 in concept of pensions or life insurance, nor do they participate in compensation plans referenced to the value of the share price.   </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, the company does not grant nor has granted during the year 2022, 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 Telef&#243;nica as a listed company in this market.   </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-179</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i97b6b014fab84f2485fef13ed2e2c67c" continuedAt="if35896543fa64ce58c62099a23ae72e8"><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Remuneration of the Company&#8217;s Senior Management </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As for the Directors who made up the Senior Management</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of the company in the year 2022, excluding those who form an integral part of the Board of Directors, have accrued a total amount o</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">f <ix:nonFraction unitRef="eur" contextRef="i2d98fff203f84d39b3b433c02361bb3f_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationAccruedFixedCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIwOTM3_6ddb507a-f45c-499b-8658-1202da1a88cd">9,381,900</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> euros during the 2022 fiscal year. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, and in terms of long-term savings systems, the contributions made by the Telef&#243;nica Group during the year 2022 to the Social Security Plan described in the "Income and expenditure" note with regard to these directors increased to <ix:nonFraction unitRef="eur" contextRef="i0e22123aa814477182d39d1069aa1d5b_D20160501-20160531" decimals="0" name="ifrs-full:KeyManagementPersonnelCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIxMjE5_c3926b22-db1f-4a99-8563-fd0930678429">943,754</ix:nonFraction> euros; the contributions corresponding to the Pension Plan increased to <ix:nonFraction unitRef="eur" contextRef="ic0b2ec8afd2f4547bf58998bd0aeb77d_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIxMjk0_d31b3cb1-0d1d-4a79-a488-0c700ee25c4a">214,600</ix:nonFraction> euros; the contributions to the Seguro Unit link-Excess Pension Fund increased to <ix:nonFraction unitRef="eur" contextRef="i317a267c6e8b48cfafd081dc8def4d8a_D20220101-20221231" decimals="0" name="ifrs-full:ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIxMzc5_b14921e0-a32a-4944-9372-57aad8ccf43d">112,712</ix:nonFraction> euros.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <ix:nonFraction unitRef="eur" contextRef="i2d98fff203f84d39b3b433c02361bb3f_D20220101-20221231" decimals="0" name="tef:KeyManagementPersonnelCompensationInkindCompensation" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIxNTky_bc4ae6b3-581e-4527-a26d-895761682f75">185,657</ix:nonFraction> euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, regarding share-based remuneration plans, during the year 2022, there were in force the following long-term variable remuneration plans:   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The so-called </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">"Performance Share Plan" ("PSP"), made up of three cycles (2018-2021; 2019-2022; 2020-2023)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">, approved by the General Shareholders' Meeting held on June 8, 2018. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The target measurement period of the First Cycle started on January 1, 2018 and ended on December 31, 2020, resulting in a weighted payment coefficient of <ix:nonFraction unitRef="number" contextRef="i10a9a3aff7354c9ba7c8a82814368856_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIyMDY0_17df86e9-908e-4b72-865a-0447439e8215">50</ix:nonFraction>%.Consequently, the number of shares corresponding to the First Cycle (2018-2021) of the Performance Share Plan that were delivered in the 2021 financial year to the Company's Senior Executives amounted to <ix:nonFraction unitRef="shares" contextRef="i10a9a3aff7354c9ba7c8a82814368856_D20210101-20211231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIyMjcx_f7d2fd95-f7ee-4faa-b3a4-1c793868e05d">220,085</ix:nonFraction> gross shares. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The target measurement period of the Second Cycle started on January 1, 2019 and ended on December 31, 2021, resulting in a weighted payment coefficient of <ix:nonFraction unitRef="number" contextRef="ic4384087b7ed4e61b45ffcbf32b5a3ef_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI1Mjg4NzY3NDkyMjE2_d0275b65-8822-48d6-885d-70ccbff5f615">50</ix:nonFraction>%. Consequently, the number of shares corresponding to the Second Cycle (2019-2022) of the Performance Share Plan that were delivered in the 2022 financial year to the Company's Senior Executives amounted to <ix:nonFraction unitRef="shares" contextRef="ic4384087b7ed4e61b45ffcbf32b5a3ef_D20210101-20211231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzMyOTg1MzQ5NDg5MjE_53afec03-b15f-4366-8b0e-eaf93f6acab4">256,246</ix:nonFraction> gross shares.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The target measurement period of the Third and last Cycle started on January 1, 2020 and ended on December 31, 2022. This cycle had a maximum of <ix:nonFraction unitRef="shares" contextRef="i428732c962fd4d3487a41b212ee0009f_D20200101-20200101" decimals="INF" name="ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIyNDEz_0c28f040-090b-4453-99e0-86a5c5b1a8b0">316,762</ix:nonFraction> shares allocated on January 1, 2020 to the group of directors forming part of the Company's Senior Management, with a unit fair value of <ix:nonFraction unitRef="eurPerShare" contextRef="i4267a5aa1cf74639a2212e18e3b61537_D20200101-20200101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIyNTUz_d859690b-1866-4f3c-b293-86c0cec30bd2">3.2136</ix:nonFraction> euros per share for FCF and <ix:nonFraction unitRef="eurPerShare" contextRef="i7fd7a0589a6843388d59e85b4e8deffb_D20200101-20200101" decimals="4" name="tef:Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIyNTg0_29b914f3-8af7-4f55-be32-3a286f0482a5">1.6444</ix:nonFraction> 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 Telef&#243;nica, 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">With respect to Free Cash Flow objective, considering the partial fulfillment of 2020, 2021 and 2022, the average weighted payment coefficient is <ix:nonFraction unitRef="number" contextRef="ib5364ff712e949fd97d98929544e692c_D20220101-20221231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIzMDc3_4347a006-5f7e-4cb0-b3c9-41831b73ccc9"><ix:nonFraction unitRef="number" contextRef="i4360621ff36d40e09a079747755e1440_D20210101-20211231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIzMDc3_51d8c4db-d31a-493a-b414-e7ef653101d4"><ix:nonFraction unitRef="number" contextRef="i9650e3f401f84260b2463a3d6ba97ade_D20200101-20201231" decimals="2" name="tef:WeightedAveragePaymentCoefficientPercent" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIzMDc3_d717451e-bd48-4460-b200-49df16301ebd">50</ix:nonFraction></ix:nonFraction></ix:nonFraction>%. 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.  </span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Thus, at the end of the Third Cycle (2020-2023) of the Performance Share Plan, the Company's Senior Executives are entitled to receive <ix:nonFraction unitRef="shares" contextRef="i00464808aab8484faee09fcfb794884f_D20220101-20221231" decimals="INF" name="ifrs-full:NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzIzNTM2_7fc37234-7f73-42e1-93f5-8d2a41449e4b">158,381</ix:nonFraction> gross shares.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On the other hand, the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Performance Share Plan (PSP), consisting of three cycles (2021-2024; 2022-2025; 2023- 2026),</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> approved by the Ordinary General Meeting of Shareholders held on April 23, 2021, was also in force during the financial year 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target measurement period of the First Cycle started on January 1, 2021 and will end on December 31, 2023. The maximum number of shares allocated to be delivered in 2023 in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the First Cycle (2021-2024) for all the Company's Senior Executives was <ix:nonFraction unitRef="shares" contextRef="ia9d521ea75c14c968d3976b1c18c539d_D20210101-20211231" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI0NTk5_0d6e2e3d-508d-4a6e-a802-cea16f47a1fb">1,333,081</ix:nonFraction>.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target measurement period of the Second Cycle started on January 1, 2022 and will end on December 31, 2024. The maximum number of shares allocated to be delivered in 2025 in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the Second Cycle (2022-2025) for all the Company's Senior Executives was <ix:nonFraction unitRef="shares" contextRef="i7aa38a40b8ad44ed94d06e36ef2c014c_D20220101-20221231" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI1Mjg4NzY3NDkzMjc5_36f05caa-075f-4497-a7c7-cac40c25a68b">1,241,015</ix:nonFraction>.</span></div></ix:continuation><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-180</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="if35896543fa64ce58c62099a23ae72e8" continuedAt="i125591b1d9f74800b33d3df020d637f1">On the other hand, Telef&#243;nica, S.A. General Meeting of Shareholders held on April 8, 2022, approved a new Global Telef&#243;nica, S.A. Incentive Share Purchase Plan for Telef&#243;nica Group Employees, in which the Senior Management participate as a token of their commitment to the Company and in order to encourage other employees to participate in the Plan. The Plan will end in March 2024, and the maximum amount that each employee can allocate to it is <ix:nonFraction unitRef="eur" contextRef="ib255457ff2f74d8bb53433a3e3b03b3c_D20220408-20220408" decimals="INF" name="tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationAmountContributedByEachExecutiveDirector" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzMvZnJhZzowYmVkNzA1MTBiMDA0ZTJjYTUwNWFkZGI5ZmEyNzk3NC90ZXh0cmVnaW9uOjBiZWQ3MDUxMGIwMDRlMmNhNTA1YWRkYjlmYTI3OTc0XzI3NDg3NzkxMzQ5ODM_a0b8679d-e167-458d-be8b-3c54d58ee611">1,800</ix:nonFraction> euros.</ix:continuation></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"><ix:continuation id="i125591b1d9f74800b33d3df020d637f1" continuedAt="ib13b09d45d7d40b09a6d9ebf6ca732ba">1</ix:continuation></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"><ix:continuation id="ib13b09d45d7d40b09a6d9ebf6ca732ba">For these purposes, Senior Management is understood to be those persons who perform, de jure or de facto, senior management functions reporting directly to the Board of Directors or Executive Committees or Managing Directors of the Company, including, in all cases, the person responsible for Internal Audit.</ix:continuation> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-181</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_376"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDebtSecuritiesExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90ZXh0cmVnaW9uOjc0YmMyNzVjNmMxYTRkMzY4Mjc4MWE5ZTk4OTE5ZWE0XzI0Nw_b5c4442c-02d6-4f5d-8c4a-a80850c726bd" continuedAt="i9a1e35777a704c4b861f9caa2bd13127" escape="true"><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix III: Debentures and bonds</span></div><ix:continuation id="i58bd545d676a44e19d766c70393a3426" continuedAt="i200e465fb89342daac37887547840f6a"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail and key features of outstanding debentures and bonds at December 31, 2022 are as follows (in millions of euros):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"></td><td style="width:30.249%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.753%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.994%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.288%"></td><td style="width:0.1%"></td></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">T. 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contextRef="i9cafcb88aa144fa8b7322f0707c1e295_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzQtOS0xLTEtNTEwNDQy_b12988f8-ff94-4588-a271-be7bffab565f">500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Europe, B.V.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1e5d56f835bc4438a8a35155667b7171_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzUtMy0xLTEtNTEwNDQy_ba8850b7-870b-4400-ad35-643b5e89eea5">&#8212;</ix:nonFraction></span><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzctOS0xLTEtNTEwNDQy_51047235-8465-4ecf-a69b-ae8aef8d81c7">1,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzktOS0xLTEtNTEwNDQy_cae44330-6e8f-4084-b82a-d2cf2deeb8e5">892</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN O2 GBP </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzEzLTktMS0xLTUxMDQ0Mg_3ca70b3e-c606-4b2f-9bd1-b055a8127a2f">1,405</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzE0LTktMS0xLTUxMDQ0Mg_4d50d63c-92ad-42ef-b754-10d06911fb21">1,250</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzE1LTktMS0xLTUxMDQ0Mg_1310ccf3-0914-448f-865d-aadd124afba6">500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzE2LTItMS0xLTUxMDQ0Mg_061cb330-0202-4a50-a5ec-e526e3295ad2">1.715</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i92f49bc04e1f45dda56f9c4f89d33a17_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzE2LTgtMS0xLTUxMDQ0Mg_dcf451d9-d8a7-4043-8993-5d9b453da5a9">1,250</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifa31e630dcc34325800d884a7727c6ff_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzE2LTktMS0xLTUxMDQ0Mg_10b69934-f0ee-4bf3-91eb-3285626e9b1a">1,250</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0b153baf775b46e4b601670f76aab1a9_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzE5LTctMS0xLTUxMDQ0Mg_5c8f9a5b-a488-407b-b3be-a5ce22397432">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i88beb7fc7d1e442faa7db1d1e48162ca_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTo1MWQ1ZDEwZDA5NWQ0NDUyYjEzZjE4MDYxMGZlZGQwYS90YWJsZXJhbmdlOjUxZDVkMTBkMDk1ZDQ0NTJiMTNmMTgwNjEwZmVkZDBhXzE5LTgtMS0xLTUxMDQ0Mg_b00eb931-b964-4664-893a-e28a2dcc7c1c">451</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" 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style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-182</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><ix:continuation id="i200e465fb89342daac37887547840f6a" continuedAt="i99e943318a3a4687a11fdabde8330d72"><ix:continuation id="i9a1e35777a704c4b861f9caa2bd13127" continuedAt="ief935484ca4d4fee9c5ef55abb5047a0"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"></td><td style="width:34.894%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.753%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.349%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.286%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.288%"></td><td style="width:0.1%"></td></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies (cont.)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzktOS0xLTEtNTEwNDQy_e596fe64-c1da-4af7-b545-4d3d160bb5a6">187</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzExLTktMS0xLTUxMDQ0Mg_57101423-2866-43cb-8888-ec8a870d6e7b">500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzEzLTgtMS0xLTUxMDQ0Mg_4ff223f1-2065-452c-ae7d-339005095cd1">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i83102ced91e04c1399320660f7f0aeb0_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzEzLTktMS0xLTUxMDQ0Mg_e672b9eb-6e8b-4d43-b3a1-f95ce717cde3">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzE4LTktMS0xLTUxMDQ0Mg_b2edcb20-6a0d-4309-bee1-319536e61880">150</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td 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name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzIyLTgtMS0xLTUxMDQ0Mg_41ee7731-10e0-433f-b94e-be2b44044ed6">16,399</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3efd5da3bde9454aa9fb16aeace641df_I20221231" 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Telef&#243;nica, S.A. and its instrumental companies</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzI1LTMtMS0xLTUxMDQ0Mg_7f9cfbb3-51b6-4d10-926b-4299dafab8a2">1,277</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i65c880784b5a4ab38590bdf8da0be869_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzI1LTQtMS0xLTUxMDQ0Mg_ed68c2a8-8e5b-40b5-b2f0-29c1d7b55411">1,000</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9dc5ef15e9454962a4b3028831e7b68e_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzI1LTUtMS0xLTUxMDQ0Mg_3a0fd991-8fc2-47e4-b5f2-233d0f7f6391">2,019</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iacf031e936a74eaa82e5a51f1066bde8_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzI1LTYtMS0xLTUxMDQ0Mg_ae9609fa-441b-4e44-a47f-ba35bb5d57ad">1,843</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid 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0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i535b2c63f8b047a0a7619091651de330_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzI1LTgtMS0xLTUxMDQ0Mg_70183afa-8d51-4f7a-9b16-ac3a46542f28">18,047</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5448aa5cd13f415095b6be0f6a1982ab_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYTU4ZTM5ZWRjYzE0MDk0OTgwYTYxZTcwMjk2MTAxYS90YWJsZXJhbmdlOjNhNThlMzllZGNjMTQwOTQ5ODBhNjFlNzAyOTYxMDFhXzI1LTktMS0xLTUxMDQ0Mg_d6518f47-cd4d-49fa-9a54-4af26f5d0344">27,841</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:21pt"><td colspan="30" style="border-top:2pt solid #969696;padding:0 1pt"></td></tr></table></ix:continuation></ix:continuation></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-183</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i99e943318a3a4687a11fdabde8330d72"><ix:continuation id="ief935484ca4d4fee9c5ef55abb5047a0" continuedAt="ib3e00c2f8b3d489e91f3983b4c92d15a"><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.450%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.928%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.276%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.276%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.276%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.276%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.276%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.755%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.283%"></td><td style="width:0.1%"></td></tr><tr><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ied306497903d448e9af2e44e76d37606_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzYtOS0xLTEtNTEwNDQy_2e3fef82-4e0c-4233-bb37-866c52b3c11a">115</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond O</span></td><td 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzctOS0xLTEtNTEwNDQy_e66350cb-ff0d-4559-846d-d0d099bc7d30">77</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond Q</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt 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0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie A)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + <ix:nonFraction unitRef="number" contextRef="if4305dc42fe346ada48d9796c32cf4c7_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTItMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjliNDMwNGVlYmFjYTQyYWFiZTkzZTczMDY0MjEyZDQ2XzEw_11218c87-7cd5-4a1c-abb8-a3e433e9c462">3.6250</ix:nonFraction>%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i70df62cc8b484a0b86c1191c18529ac4_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTMtMS0xLTUxMDQ0Mg_242bc701-7c73-43d0-be90-9f29380a3316">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2467c66962a449079f5f75b39951e703_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTQtMS0xLTUxMDQ0Mg_3985aa7c-f49e-4dce-9e82-7fb111042318">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icc5e853003344b4d8a5862f9556414fa_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTUtMS0xLTUxMDQ0Mg_f1a8e867-52a5-419a-9ad2-b5bc9f2c16eb">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i152541c23134465e9b6cfa8f29b49ef3_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTYtMS0xLTUxMDQ0Mg_fe9b9e63-4877-4d5b-acfa-738accc2175a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib8896ef52afc44d3b96e58fe6184c1ab_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTctMS0xLTUxMDQ0Mg_3a716ae9-93d8-4b7e-8e20-13277df235dd">25</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i20f9edf7a57b45e08c9204f4bb3e373d_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTgtMS0xLTUxMDQ0Mg_602e13ff-5937-40c3-abb0-a484e8c48376">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0a0884734a5943d0b2c6fe62b322fcd2_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzExLTktMS0xLTUxMDQ0Mg_c6364348-0435-4346-bfb5-5105648bb7c1">25</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + <ix:nonFraction unitRef="number" contextRef="i0b3f680260ca4b738e14a6865e00c4bd_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEyLTItMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjAzOWQ4Mzg4NmNjYjQxODc4NmE4MWM3Yjc3ZmMzMTM4XzEw_1203f80a-d5e1-4dbe-a047-594f4e1fb4fe">2.8750</ix:nonFraction>%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i131388f6bef44bdbb2676caeea210b61_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEyLTMtMS0xLTUxMDQ0Mg_157086c2-5a9d-42a1-acc6-ca25d8397653">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaaee6cf5bc6f41b3b638cffaef926300_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEyLTQtMS0xLTUxMDQ0Mg_184782c4-2c55-43a6-ad65-e25c3b8098b0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i337a873e2ff746f3ad0fd9503eeca3ad_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEyLTYtMS0xLTUxMDQ0Mg_4e08ae17-2089-4fe2-a326-1f135a9df13f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iea39404d7b5e4ea480677cd2900aa26a_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEyLTgtMS0xLTUxMDQ0Mg_c9b5b973-0661-4f04-825d-b481f614343b">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a8ec8702c0f4d389b89c479f11348e1_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEyLTktMS0xLTUxMDQ0Mg_37a4aa90-dc8d-462a-a1d1-75db30ceee8d">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (37th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + <ix:nonFraction unitRef="number" contextRef="i2cb4476ce8e647e4ac5efe3a8138a8cc_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTItMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOmZmNTRhNDM2NDRkZjQ5NDQ5NTY1ZDg4NGQ4NmNjMjUyXzEw_007d0431-5d35-499b-a019-bec58a3ce42e">3.1250</ix:nonFraction>%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id3b785a024b9437dbe3a456e8d8c3285_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTMtMS0xLTUxMDQ0Mg_32a55423-7e15-426f-8e64-d373c650b21b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9bbcbdd2f55a4ad1b66d3745140d50c0_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTQtMS0xLTUxMDQ0Mg_44b71538-3d07-416d-b734-d246fcf16a69">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6457d81e533d4b548d193202e08f8d0f_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTUtMS0xLTUxMDQ0Mg_94f6db52-6e08-4e55-8c23-afcbacc60b27">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i27c31b38ccd24162920542bcbc949db9_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTYtMS0xLTUxMDQ0Mg_a3feabb0-19e0-4887-82b3-2664f09d6d48">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ice0abf60666a4c1bb59b279aa500b545_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTctMS0xLTUxMDQ0Mg_6fa38d12-eba3-44d1-9eff-dacca3d7899a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1a9f553e3dbe425aa4f581d89f248491_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTgtMS0xLTUxMDQ0Mg_dbdf2329-95ad-4a7b-a7cb-6f0ff3efad72">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib295c87872a841e4b9b0f53c1ce57814_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzEzLTktMS0xLTUxMDQ0Mg_ec177c4f-d986-4473-b627-9058c10c7353">19</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie C)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + <ix:nonFraction unitRef="number" contextRef="i392bf694d90a4d7badb43c13df378096_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzE0LTItMS0xLTUxMDQ0Mi90ZXh0cmVnaW9uOjRhNmZiODhiNThlNDQ5OTJhZjExZmEyYmVkMmFjOWI1XzEw_f0e725e2-4318-4318-ad14-31c7e410d08b">3.1875</ix:nonFraction>%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4c857acab5a8433eb7ce5a67249a002c_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzE2LTMtMS0xLTUxMDQ0Mg_8ba8c856-1c0b-49dd-b105-acac69801ee1">64</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7a35acdce857493eaedc2324f58fda75_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzE2LTQtMS0xLTUxMDQ0Mg_4e949495-2e3c-4f38-885d-ad9dcfaaeea8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i82ee634dc0ec4148a1c770e2bf7d2c0c_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzE2LTktMS0xLTUxMDQ0Mg_ce071929-d2ae-4807-9ae6-85169dfcda0c">64</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i97dc51cde9554985ab594038b3c46d26_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzE3LTMtMS0xLTUxMDQ0Mg_35472430-18eb-4990-830d-a914876021cd">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic6eee29bc5a34afeb799846c26be7cde_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzE3LTQtMS0xLTUxMDQ0Mg_a045fba7-62a0-469a-a01d-dc061d40cbbb">29</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6c9f9505cf754fd1b0401376687bafb4_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzIwLTQtMS0xLTUxMDQ0Mg_cb0a0ca2-5959-4afb-ba16-84affdecae33">33</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzIyLTktMS0xLTUxMDQ0Mg_b5c92c17-a739-4d07-846c-e9631ad6142b">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8c9623ab60a045bf9c2b63f3d02f3264_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI0LTMtMS0xLTUxMDQ0Mg_31fd456c-bae5-4f26-acbe-ad32497da17c">64</ix:nonFraction></span><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI1LTUtMS0xLTUxMDQ0Mg_e33c7689-b4b0-4f19-a73b-37dcc9b6f262">269</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia7131971f98740fca09c7c40c28fa284_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI1LTctMS0xLTUxMDQ0Mg_73e099e7-6969-4b59-9751-6308712e8db6">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9761a739aba241e6be0cea1316415562_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI1LTgtMS0xLTUxMDQ0Mg_0ad37af1-a164-487b-8713-c55070eb0412">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i77de49460d274c54be4d37e900533985_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI1LTktMS0xLTUxMDQ0Mg_e37ebe88-41b2-4408-8103-898cba2e7751">269</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzIzLTctMS0xLTgwNjYyMw_1d6f43e7-47c1-40b0-96ef-9577d7652cb0">359</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i87859256dfe347989ddc92b0b2c232a7_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia5fa610199fa43bbaf8068c8aed3f111_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI4LTItMS0xLTUxMDQ0Mg_1fa2980a-d21f-468f-9e92-07cb1d19c8cc">6.650</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie27adc58075f418d8be38f3f719eec02_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI4LTMtMS0xLTUxMDQ0Mg_5810411e-536b-46fa-9d6c-04249f73f144">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i707a5ac5326645b08815759472798ec4_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI4LTQtMS0xLTUxMDQ0Mg_d4ee5f3f-8fd4-4cc6-a08c-dfe5958aea07">68</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id689049d37264f40a906d8650f29f509_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzI4LTktMS0xLTUxMDQ0Mg_decc4b42-404c-4aae-8748-de43aee3706f">68</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond C10</span></td><td 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0b019b5f3f6c49b9a7773ba06487e20c_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMxLTQtMS0xLTUxMDQ0Mg_97ea4b34-07ba-45aa-a470-1c4ef860a41a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMyLTMtMS0xLTUxMDQ0Mg_2d959009-6659-4e03-b6fd-3b503cf69d9f">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i46d9a68457eb423bb85662fa7addffe1_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMyLTQtMS0xLTUxMDQ0Mg_5b2ae486-6998-4d13-acd1-115f3e5b792e">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8d3ce62b63344732b54f56b647cab79e_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMyLTUtMS0xLTUxMDQ0Mg_d1ba7471-61c6-4dd0-9722-016c1b21dee2">600</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i32f9538768ef48dd94e9510cef16d323_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMyLTYtMS0xLTUxMDQ0Mg_e90ab793-632f-423a-817b-0ff1861603e2">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d09bfd396d54176ba8b6c07f453cee4_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMyLTctMS0xLTUxMDQ0Mg_ed93cb0f-c750-44d3-8150-567688c9216d">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i37a01860549745cf934aba42f84d3c7c_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMyLTgtMS0xLTUxMDQ0Mg_7b82f9ee-182d-4a80-8c68-621bf50dd883">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2f924b113ae94235bd9f627359b10889_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMyLTktMS0xLTUxMDQ0Mg_5a77fb8b-8734-4bed-b111-78ad763ad393">600</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds Foreign operators</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i39487e22e11144d59507d528d30f2a39_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMzLTMtMS0xLTUxMDQ0Mg_e0e519b8-c15e-4220-9364-defd7b87639f">200</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i22b35521d2264f1f89800b0dd671ce32_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMzLTQtMS0xLTUxMDQ0Mg_efbc368e-5a7c-4a18-81b8-bf412fc2d244">130</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i553f54bcaa354a329670a10d4db0782d_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMzLTUtMS0xLTUxMDQ0Mg_c947ecc4-8740-49ed-9a15-9779e3b134bf">1,111</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i26d47945bba0453eafe6ca3378610dcf_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMzLTYtMS0xLTUxMDQ0Mg_20837a62-7f8f-4d10-b95d-6e4db197dc17">258</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie131e91a24df431bb4f18ea4c99fc998_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMzLTctMS0xLTUxMDQ0Mg_849e3d60-9e6e-47c1-8dbe-60bab702dc58">523</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i332401c33dc641b1af2310d55ceedd53_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMzLTgtMS0xLTUxMDQ0Mg_4d3cd551-ad77-4059-8d0b-3565425171b1">1,032</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i26e6a81c14884cd498530a176732cf7d_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzMzLTktMS0xLTUxMDQ0Mg_d8554103-b9bd-4281-8810-d5a993fd45c4">3,254</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds</span></td><td colspan="3" style="border-bottom:2pt solid 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzM0LTMtMS0xLTUxMDQ0Mg_a54cad3e-5d28-431b-804d-06f3bbc81fd2">1,477</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i225ee7f614314387a2ab4389ebd1488f_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzM0LTQtMS0xLTUxMDQ0Mg_ce0aefcc-ca76-4f8c-9e77-30bb6311babe">1,130</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifd9484f117584541b944172ff01837e6_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzM0LTUtMS0xLTUxMDQ0Mg_d427fb8c-dce7-4cc4-8e5d-cf068b8aefb8">3,130</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2b6eb3bbabb6445984a7bedd7e80fad6_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzM0LTYtMS0xLTUxMDQ0Mg_2fe19e80-ef86-4ecc-be68-383b910ae36f">2,101</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4f1f7d197c8540af957db739a0d0d910_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzM0LTctMS0xLTUxMDQ0Mg_5097978b-a427-4f56-8519-1e60d89cdf70">4,178</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib70fde8ff1bf43639c7e96d04ca1df7b_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzM0LTgtMS0xLTUxMDQ0Mg_91444e3a-37a2-40ac-84cd-7c563ad3fabd">19,079</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTozYWU1ODgwOGQ2MmM0ZDg4YWNkNTllYmI2Y2E3ODQ1Zi90YWJsZXJhbmdlOjNhZTU4ODA4ZDYyYzRkODhhY2Q1OWViYjZjYTc4NDVmXzM0LTktMS0xLTUxMDQ0Mg_6707fa7f-ceb6-49bd-9086-8ed1d6b58ac4">31,095</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and green bonds (See Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29.d)</span></div></ix:continuation></ix:continuation><div style="margin-top:9pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-184</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="id90c96d047d04341b2ed155fdc89349c" continuedAt="i6f65a2b24a404cfea552df3614746ec6"><ix:continuation id="ib3e00c2f8b3d489e91f3983b4c92d15a" continuedAt="i8ff119e9de4e4a4ca637c5010bf5733a"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main debentures and bonds issued by the Group in 2022 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.479%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.769%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.769%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.479%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.769%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.440%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nominal (millions)</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Item</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Coupon</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/05/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/13/2040</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4b82e1db85d49b08d72b8406dddf258_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzMtMy0xLTEtNTEwNDQy_e6bc5ae2-f6a7-4c18-87dc-3eb306569a83">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia4b82e1db85d49b08d72b8406dddf258_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzMtNC0xLTEtNTEwNDQy_3bd8726c-f576-46f9-9e96-4035b924d280">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib1750f1fb71b48b0a673d9828178bf8c_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzMtNi0xLTEtNTEwNDQy_0a473f60-a4cc-44fa-843f-3caf291a6808">1.864</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2022</span></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2031</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia9d3713fbabf47189bd15f96ec45872e_I20221231" decimals="-6" 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colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2027</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="brl" contextRef="i7311739d84df4ec2bbe40428ebb7f150_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzYtMy0xLTEtNzU4MjYy_ee5608b3-9cd1-4b70-936f-5426be1bb652">2,000</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7311739d84df4ec2bbe40428ebb7f150_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzYtNC0xLTEtNzU4MjYy_9102adb0-b9a4-424e-bc11-75920bfb9230">359</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" 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colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2025</span></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="brl" contextRef="ibc6fe384fc8c4f9c84ca7657e3004932_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzQtMy0xLTEtNTEwNDQy_03751cbd-4592-4aa3-bafd-329a24dc4837">1,500</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibc6fe384fc8c4f9c84ca7657e3004932_I20221231" decimals="-6" name="ifrs-full:NotesAndDebenturesIssued" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzQtNC0xLTEtNTEwNDQy_587f81c8-23c8-4eb4-84ef-68d6259515be">269</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0e4401cf63ab448ba9b040c1c795b34d_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" format="ixt:num-dot-decimal" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzQtNi0xLTEtNTEwNDQy_887bc944-0dc7-4833-b894-68ffeeb05a19">1.12</ix:nonFraction>% CDI</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29. d)</span></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-185</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_382"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i24f86fd7611b4c898b77fe81c088e67f" continuedAt="i6ba76af935d042939de4ac4950f82922"><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix IV: Financial instruments</span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyOTI_7347f823-2b5d-411a-8978-b3aa74672a1a" continuedAt="i0d97852c28e742f2a6358b074b035d4b" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the net financial debt arranged by the Group (notional amount) by currency and interest rates at December 31, 2022 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.689%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.648%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.087%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.087%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.648%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.648%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.402%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.338%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzMtOS0xLTEtNTEwNDQy_f0886145-2776-415f-9117-3e228e4f4e4f">12,129</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ied1237b5faa4485388d4446237021f41_I20221231" decimals="-6" name="tef:FinancialInstrumentsFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzMtMTAtMS0xLTUxMDQ0Mg_9d89f5ca-78ae-4ace-98cc-b0ddf34a407f">13,208</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" 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contextRef="i84ea7f6630e6443c98c54c542d378ba3_I20221231" decimals="INF" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzQtMy0xLTEtNTEwNDQy_a8d375d6-a18c-40ef-abde-be4d6911cbf7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="i2c7ca614c628498b8671602f19ad120b_I20221231" decimals="INF" sign="-" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzQtNC0xLTEtNTEwNDQy_b9c72bee-46d8-4b20-90d3-99067997333b">0.12</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="number" contextRef="i859571a0216e4cdaa12ffd41d9febd4a_I20221231" decimals="INF" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzQtMTAtMS0xLTUxMDQ0Mg_cb32b67e-630b-48af-b012-83b230008ede">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" 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format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtMi0xLTEtNTEwNDQy_f03343ce-87ea-4ebb-bc7d-4d8f3800603c">1,028</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia5471e98b52948839d0d62502bce2d4b_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtMy0xLTEtNTEwNDQy_99e2a22d-5ec1-4fbf-ab80-701536d18bc5">2,587</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8da9828ee77446bdbae7117a3c3f0ff8_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtNC0xLTEtNTEwNDQy_de0354d5-3194-4d18-a0b4-304c3283072b">1,937</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5269c5aab60942b6b190528f698b2f1a_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtNS0xLTEtNTEwNDQy_45f88457-de86-40dc-a2cc-6a5b5216249a">3,814</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie82e6c4b188a4382994fa46b2b854b01_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtNi0xLTEtNTEwNDQy_dc82dc3a-dcad-4116-823b-f1791c634ec8">12,249</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i629c774284414b69988eff035fe6afb1_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtNy0xLTEtNTEwNDQy_70fd47f7-4647-4db9-b944-128d99c8ab07">11,183</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i92072f04525746d497d9b7026a176167_I20221231" decimals="-6" name="tef:FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtOC0xLTEtNTEwNDQy_0cf912d0-8891-4003-b6a0-b41e42c8bdea">11,382</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5c26ce91264a41118dd43d472815d82f_I20221231" decimals="-6" sign="-" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtOS0xLTEtNTEwNDQy_12415a00-bb17-4e26-91fa-d0151ce43c05">3,875</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0c8203c6acc54955b6768433555b4196_I20221231" decimals="-6" name="tef:FinancialInstrumentsFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzUtMTAtMS0xLTUxMDQ0Mg_289294a1-bbcf-4f1b-b1ea-2dba55174ef3">7,507</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" 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contextRef="i859571a0216e4cdaa12ffd41d9febd4a_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzYtNS0xLTEtNTEwNDQy_229223c9-0ace-4464-94e9-e5454d6df20f">1.13</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2c146a339a3841adb7f19e15d91bb468_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzYtNi0xLTEtNTEwNDQy_c4679759-fccc-468d-a68d-0c87ebba1eed">1.80</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i614618b266094de4bea87ab69c8c6327_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzYtNy0xLTEtNTEwNDQy_d5fb952f-7265-41d1-b906-26247f03bb17">2.17</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="icea88dde623d4866b72fd26a435fd67f_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzYtOC0xLTEtNTEwNDQy_485cbec0-3cdc-4779-b644-18bf753fa826">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i309cb6e5adc14f0a8ad8f47ee85ce4b9_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzYtOS0xLTEtNTEwNDQy_87ee94fd-5ede-4816-9d25-b96f0cccbeda">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iac07694bf3eb4ba18c97af90cabc12dc_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzYtMTAtMS0xLTUxMDQ0Mg_364dcafd-1fec-43c1-a360-bd2633e90e05">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzctMi0xLTEtNTEwNDQy_63a9d490-dbc4-41f3-8faa-0bac037c971a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i22c0a4e6cc2a4a59896ba96fbd776023_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzI4LTItMS0xLTUxMDQ0Mg_be5e8a33-d279-458a-950e-db50bf58c2a2">49</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i93fd9d50811b4018b6fe434a404ed395_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzI5LTctMS0xLTUxMDQ0Mg_c7cc3760-1de3-4078-bce9-e1e0824ac864">134</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ief401a499d8144e7ac20e5bfff277851_I20221231" decimals="-6" name="tef:FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzMyLTYtMS0xLTUxMDQ0Mg_e5d1dcc3-54fe-47cf-9f63-21a88e12c867">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i254f25ddc6bb41758e3120748b9fb084_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpjZDNmYTMzZjAyZGQ0M2ZlOGM0ZjgyODFjNDY3NDIxNy90YWJsZXJhbmdlOmNkM2ZhMzNmMDJkZDQzZmU4YzRmODI4MWM0Njc0MjE3XzMyLTctMS0xLTUxMDQ0Mg_ee74da2b-ada0-4b56-b58d-e20e753e748d">2.27</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i0b2f2a68fe364f6bbc91d69c99349574_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" format="ixt:fixed-zero" 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style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-186</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><ix:continuation id="i6ba76af935d042939de4ac4950f82922" continuedAt="i66f5d4385f5541f9ab5740faf93b8a6e"><ix:continuation id="i0d97852c28e742f2a6358b074b035d4b" continuedAt="id54ea2a4ef93460aba3c93a44466653b"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:15.737%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.952%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.367%"></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTphOGJhYjBjNzA4YmQ0NzcxOTM5YWI1NzhjN2I1MWRiMS90YWJsZXJhbmdlOmE4YmFiMGM3MDhiZDQ3NzE5MzlhYjU3OGM3YjUxZGIxXzEwLTUtMS0xLTUxMDQ0Mg_ed651095-c8ef-40b1-82a2-731a84d870f9">1.32</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i306d311e0ecb4831a738468f0d311545_I20221231" decimals="INF" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTphOGJhYjBjNzA4YmQ0NzcxOTM5YWI1NzhjN2I1MWRiMS90YWJsZXJhbmdlOmE4YmFiMGM3MDhiZDQ3NzE5MzlhYjU3OGM3YjUxZGIxXzEwLTctMS0xLTUxMDQ0Mg_57d854f0-7a8d-4924-9dac-036b7ba44ca1">0.85</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2df30616ce7b4eaca40346536ddd6bbf_I20221231" decimals="INF" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTphOGJhYjBjNzA4YmQ0NzcxOTM5YWI1NzhjN2I1MWRiMS90YWJsZXJhbmdlOmE4YmFiMGM3MDhiZDQ3NzE5MzlhYjU3OGM3YjUxZGIxXzEwLTEwLTEtMS01MTA0NDI_42044fa0-0333-4b41-9487-9eab5b452f95">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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name="ifrs-full:BorrowingsInterestRate" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTphOGJhYjBjNzA4YmQ0NzcxOTM5YWI1NzhjN2I1MWRiMS90YWJsZXJhbmdlOmE4YmFiMGM3MDhiZDQ3NzE5MzlhYjU3OGM3YjUxZGIxXzQyLTUtMS0xLTUxMDQ0Mg_19d7f3b7-4bbd-4dcf-a702-03bf7e78dd06">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i2fb1e2e3b10c4971adc30b4745e5ac8f_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTphOGJhYjBjNzA4YmQ0NzcxOTM5YWI1NzhjN2I1MWRiMS90YWJsZXJhbmdlOmE4YmFiMGM3MDhiZDQ3NzE5MzlhYjU3OGM3YjUxZGIxXzQyLTYtMS0xLTUxMDQ0Mg_47433818-a1fb-417d-a939-5c52c36a2a04">8.09</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iec56650a69904c5aa550146892a5a785_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTphOGJhYjBjNzA4YmQ0NzcxOTM5YWI1NzhjN2I1MWRiMS90YWJsZXJhbmdlOmE4YmFiMGM3MDhiZDQ3NzE5MzlhYjU3OGM3YjUxZGIxXzQyLTctMS0xLTUxMDQ0Mg_0b8e7d71-7f21-4567-ad99-469135ea272b">3.72</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3053520ac00e4e7b92a765136febcaa1_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" format="ixt:fixed-zero" 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style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-187</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i66f5d4385f5541f9ab5740faf93b8a6e" continuedAt="i743f478376df4eef9835ecd5bea2e035"><ix:continuation id="id54ea2a4ef93460aba3c93a44466653b" continuedAt="i1fc8c1bb91874294b0e6dce2f2e0b2a1"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:18.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.541%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.519%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.880%"></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in MXN</span></td><td colspan="2" style="border-top:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie0d8f60dfb4d4befa8a25eb3ab93b91a_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzItNy0xLTEtNTEwNDQy_3da059b9-d520-4a59-ac8c-927a8e9e2e7a">4</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i59970e9e537445c2bb9623f82ae7dbf4_I20221231" decimals="INF" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzQtOS0xLTEtNTEwNDQy_76e51727-090e-40ed-8add-4c1ccd24262a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i456e22b66158466bbcd3f86f925c2f2a_I20221231" decimals="INF" name="tef:SensitivityAnalysisBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzQtMTAtMS0xLTUxMDQ0Mg_0242b9c6-cdd4-47ec-8ed8-9d8ff1f0ffec">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i845ade1715104a568ced34a7f441940c_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzUtMS0xLTEtNTEwNDQy_f02a3ddd-896f-432a-a427-fc168c27f620">139</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzUtNy0xLTEtNTEwNDQy_b96a3001-fe38-46a7-b4c1-6babb4eaeff5">20</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibdd849cf6f2e4fbb8668cb9c98d0ef39_I20221231" decimals="-6" sign="-" name="tef:FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue" scale="6" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia4afcd0017ce45629b3e0f11bbcb6168_I20221231" decimals="INF" name="ifrs-full:BorrowingsInterestRate" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzYtNS0xLTEtNTEwNDQy_a1b61053-f201-4d84-8915-87bdf27eb3f8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic704e23d52104fc6ac4894c23b9c762f_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzctMS0xLTEtNTEwNDQy_f41a2163-1c3a-4d73-ac42-c947874ca7a5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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unitRef="eur" contextRef="i50ad56aaeece45cb8596169cf6468df8_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzctNS0xLTEtNTEwNDQy_73c3d99d-8477-4748-a5a7-1a2729f9c2c0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2157a01488ca4037ae312c149a14b6e0_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzctNi0xLTEtNTEwNDQy_62e9b0f7-74a4-4588-967d-6064b8016aad">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0dd411e5ac9044fbad5693264a47ec66_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzctNy0xLTEtNTEwNDQy_e81998bb-166b-4325-9f27-ba8205c95be9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0adfbc8fe4a54826b5494fe1019d165a_I20221231" decimals="-6" name="tef:FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzctOC0xLTEtNTEwNDQy_66f06056-ef6f-4389-9172-aeb80390e1bf">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i781cf6d093ae43e4ae95832e96dfa023_I20221231" decimals="-6" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzctOS0xLTEtNTEwNDQy_4003e51d-9cd9-4ec6-ad8e-1d568e5a566e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id405cbd2f395470090bc07907f687d7c_I20221231" decimals="-6" name="tef:FinancialInstrumentsFairValue" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzctMTAtMS0xLTUxMDQ0Mg_c70f16e2-d6d2-4b36-a50f-0e658ebb1cca">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib801a1a840ff4bc6bacc8e2fd672da38_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzI3LTctMS0xLTUxMDQ0Mg_d29f539a-3471-4f77-bd35-958cfef2fb82">25,994</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6cc9a260164c4c94ba355e9b0e854c58_I20221231" decimals="-6" name="tef:FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue" format="ixt:num-dot-decimal" scale="6" 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contextRef="id814b5a85e0a44a78edcc5343e88408c_I20221231" decimals="-6" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzI4LTktMS0xLTUxMDQ0Mg_452f0885-79ed-4e52-8954-ac5556e9cc85">12,553</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1da55b4668cc404fad9e0b615384d978_I20221231" decimals="-6" name="tef:FinancialInstrumentsFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzI4LTEwLTEtMS01MTA0NDI_95f2a568-e6ee-4151-afe5-ba9de4609f4d">15,337</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4c423aa02e334debbfd5df75dfaec86a_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzI5LTctMS0xLTUxMDQ0Mg_a3e98842-0305-4678-b489-3bfd488901e2">15,005</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i673e818696a6466fb50d9e16bb5b19ac_I20221231" decimals="-6" name="tef:FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzI5LTgtMS0xLTUxMDQ0Mg_5151f2e4-60b3-434c-a83b-aebb8ad28704">24,915</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ied62d15b76dd456c8e00e89ffd12dfbc_I20221231" decimals="-6" sign="-" name="ifrs-full:FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzI5LTktMS0xLTUxMDQ0Mg_5d3720a2-c56b-4091-845f-f666f429d47e">13,565</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3e37fd7995f9455ca284edb0080c1bab_I20221231" decimals="-6" name="tef:FinancialInstrumentsFairValue" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZToyNjFhZTM5N2U4Mzk0NmE0YTcyY2UwY2ZkZGUwM2ZmZS90YWJsZXJhbmdlOjI2MWFlMzk3ZTgzOTQ2YTRhNzJjZTBjZmRkZTAzZmZlXzI5LTEwLTEtMS01MTA0NDI_81b995a5-69df-4d96-9da4-db7e359e75f3">11,350</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Includes all net financial debt adjustments</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below 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, 2022:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:28.812%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.964%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.848%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non trading accountant purposes</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6143489e05954bc9ba547f082a3afb35_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzktMS0xLTEtNTEwNDQy_358fe46c-ddc0-4e59-8fef-2cdd5c52ec03">&#8212;</ix:nonFraction></span><span 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#bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iee26c77c8d6f435991f6aa49c94162b4_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzktOC0xLTEtNTEwNDQy_6572e253-26ff-4243-b034-fa6829b7054b">595</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icfae1a08ddfc48d1b391fc70223d87a0_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTEtMS0xLTUxMDQ0Mg_71e980e6-3ef1-417a-83a8-9ed9fbccc333">2,974</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i758d0bea60b44daea6a26ac9c66b0386_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTItMS0xLTUxMDQ0Mg_c6ceebf9-3aeb-4359-8eb9-b1c3b967f202">1,778</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib3a06c1f62a34a968e6a2f936f68ec59_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTMtMS0xLTUxMDQ0Mg_de9ef799-b765-4e60-ac15-85987939b89c">1,195</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i53f139484a514b4abe3a0b61ff97e6d1_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTQtMS0xLTUxMDQ0Mg_707528d7-5471-4794-a266-d6edf99efec5">1,215</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5c52a8ea065e4809abfe7c4005cc1dfb_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTUtMS0xLTUxMDQ0Mg_5bbc44d6-0337-456b-a81c-9123e0687085">325</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia5ed9affa4394eca8d351c3be3c6c896_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTYtMS0xLTUxMDQ0Mg_eac29ca0-f7f7-4d8c-b973-5f3f18294427">3,632</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8c36703d1f3f45eaae60d93d73d8d911_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTctMS0xLTUxMDQ0Mg_3bab59b8-39c2-44cb-9fcc-2c4f71e7233c">11,119</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3d67589c0f4d43708ac58cfd0819af8b_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEwLTgtMS0xLTUxMDQ0Mg_c559c6be-bac2-49bb-a9cd-1279e2a71d10">7,894</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" 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contextRef="if86596086bee4e71be15099c3112addd_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzExLTItMS0xLTUxMDQ0Mg_0f782f34-b732-41f7-aef4-93318d322b74">1.54</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i29f7261b0f1240cd9c8774ccac5dbf42_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzExLTMtMS0xLTUxMDQ0Mg_fde0d6e2-4931-40ad-b605-98a28994ff7c">1.07</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i8fd132bd486a46719a79f86e7c55a5d6_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzExLTQtMS0xLTUxMDQ0Mg_65282948-9214-4148-8324-803c4a0135e0">1.29</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i41762ff00b1c47f8a1c3df3cf81f4245_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzExLTUtMS0xLTUxMDQ0Mg_b4c4504b-435d-4187-b661-f864876a69a0">0.86</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic78e2fcea627432ca9c607ba983c4d62_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzExLTYtMS0xLTUxMDQ0Mg_ed1dc47f-0d17-470f-82db-141122704c85">1.16</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3f666b9f1c844cc49c05f2c63de17fe9_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzExLTctMS0xLTUxMDQ0Mg_626902f6-7cdb-43dc-99e3-85e0b4d92ce1">1.31</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="iee26c77c8d6f435991f6aa49c94162b4_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzExLTgtMS0xLTUxMDQ0Mg_61676f5a-2fbe-493e-ba18-79d7629ee13c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id855a6fc702f42b79d5b67182e380df0_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEyLTItMS0xLTUxMDQ0Mg_2bee5881-96c5-4d2f-be73-92def1b07367">1,778</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4626d461603f412cb97df6af8cdb68ed_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEyLTMtMS0xLTUxMDQ0Mg_e85ac766-aa44-4df1-aba9-6fd930b10a5d">1,195</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id47e2b25bb5444219d0536f81fb0aae8_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEyLTQtMS0xLTUxMDQ0Mg_3a379768-df70-4c01-a3fe-64e4f0769f4d">1,215</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibaf975e71810468bacb689145d8a177f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEyLTUtMS0xLTUxMDQ0Mg_8d85ea63-3e5e-47c1-bfa9-ab88e6d6e435">325</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iaebf8a06dedf445e8a866c8dea8dafe3_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEyLTYtMS0xLTUxMDQ0Mg_5cccf9e8-fce8-4d9d-94f4-4324857b406e">3,632</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3d81123f2f4249c0b59d4887c28a28ea_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEyLTctMS0xLTUxMDQ0Mg_eb939ec5-8a35-41ca-8d67-5e807d1fb2d9">11,119</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia1ffb87fa18746f596f45c44c9b25a27_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEyLTgtMS0xLTUxMDQ0Mg_29d84830-c099-4793-92f4-204795caeba3">8,489</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="if86596086bee4e71be15099c3112addd_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEzLTItMS0xLTUxMDQ0Mg_9925ae67-6f1f-4e26-a0f7-d8a7f840caea">0.29</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic78e2fcea627432ca9c607ba983c4d62_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzEzLTYtMS0xLTUxMDQ0Mg_f2085d5e-688e-41a5-8952-e1a2bd8d08d3">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i608bd8e796464e4f96f5cd7fe4e84288_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE0LTEtMS0xLTUxMDQ0Mg_d1b2536a-5407-4c1d-8dcc-c378102fbc1c">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic25f1f68a79147659f042c6bf19216da_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE0LTItMS0xLTUxMDQ0Mg_a93fba08-54d3-485b-b02f-49d9f6d9adf6">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4ecc3b66325b4f50b4d180e62537935f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE0LTMtMS0xLTUxMDQ0Mg_d97da3e3-d272-4b59-8bd0-be220e7b4736">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib9fecea79cf84f779eb1c0641e69b4cc_I20221231" decimals="-6" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i43cc25c302bc40e1bdc7cf315d25c428_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE0LTctMS0xLTUxMDQ0Mg_2f7392ce-867f-4a08-b7c8-57ebca0e3819">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i242d350bf4a04bfb93b7b1e47b26f2c9_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE0LTgtMS0xLTUxMDQ0Mg_ca644f9d-acbf-4e8d-9806-8686327ad742">113</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib311b6d0007b4cb59ae78ff7d7cfd904_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTEtMS0xLTUxMDQ0Mg_4c731744-6554-45e1-b941-44b2d372a101">715</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia17b43f923ba4b2c8e9d884a1b9b86f0_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTItMS0xLTUxMDQ0Mg_ae402185-37aa-46dd-95a3-c3600ccc85c7">470</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib6dd5b230685447bacf195a452d35758_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTMtMS0xLTUxMDQ0Mg_07172c34-02ac-4128-b135-f7a0414666ac">50</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib61513cbd92b4afdbd90322638de680e_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTQtMS0xLTUxMDQ0Mg_b0b4871b-355f-4251-83cd-b8d5a0e7be56">477</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie9ab6578e43540db9efcf52478613c68_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTUtMS0xLTUxMDQ0Mg_758abe31-9ef0-4b0e-a262-35cd5d6e3c38">245</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i18e6083290f64ca0b457cefaa3c8250f_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTYtMS0xLTUxMDQ0Mg_56237edd-a7de-429d-bcf0-4003427165d9">1,187</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id5df8ab294cf443191d80e00d81bdd18_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTctMS0xLTUxMDQ0Mg_a1764f99-cbbb-4107-bcd5-2fe55741b120">3,144</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1f1c4a5273e74e8db2261bbe8922c951_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE1LTgtMS0xLTUxMDQ0Mg_44aa6e76-0c0d-4714-b028-86732c12e5fa">3,148</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i608bd8e796464e4f96f5cd7fe4e84288_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE2LTEtMS0xLTUxMDQ0Mg_b3bb4bde-ffb2-4a51-9f2f-edd822e689c9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ic25f1f68a79147659f042c6bf19216da_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE2LTItMS0xLTUxMDQ0Mg_981ce9e9-1027-4bb5-a987-1946b9a214fc">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4ecc3b66325b4f50b4d180e62537935f_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE2LTMtMS0xLTUxMDQ0Mg_b77383e1-9f6c-4d8d-ad0b-025f4be0b616">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib9fecea79cf84f779eb1c0641e69b4cc_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE2LTQtMS0xLTUxMDQ0Mg_3c26fbdd-39a9-4163-9b2b-0b49741dd383">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia5aaf41b79b44920ad92f08fde0551d3_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE2LTUtMS0xLTUxMDQ0Mg_907f7ddb-63da-4b47-8e2b-d29cba035cb7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i43cc25c302bc40e1bdc7cf315d25c428_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE2LTctMS0xLTUxMDQ0Mg_ea3b4e35-ff45-435b-a87b-c1b370c82b74">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i242d350bf4a04bfb93b7b1e47b26f2c9_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE2LTgtMS0xLTUxMDQ0Mg_c5984b6a-1b07-4d77-8a44-f52d47c57033">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i26cb9ff66f444798a181a9de26d3eb00_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE3LTEtMS0xLTUxMDQ0Mg_194adbb1-0fd6-4729-a454-9d1b4df939ec">715</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i991b66d5f19a42dfb495963bc4a55846_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE3LTItMS0xLTUxMDQ0Mg_3cc8b79e-5b8a-4195-a5ad-32e5473e4d46">470</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5a14aac3a2e4447ab97732d6db6465d6_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE3LTQtMS0xLTUxMDQ0Mg_4c882f7a-2654-4e90-af37-8465e6f81884">477</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE3LTYtMS0xLTUxMDQ0Mg_9f7e4e8d-5e88-4122-ae08-9914001c2399">1,187</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3ba33e71b0b14bd49cc27c41a0ee11fe_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE3LTctMS0xLTUxMDQ0Mg_196ad136-4658-4d18-b693-d21cc084462c">3,144</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i87c595b691064422b622db50f21faea5_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForTrading" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE3LTgtMS0xLTUxMDQ0Mg_06414d53-0de5-4950-874e-2dfef27c9bab">3,035</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i608bd8e796464e4f96f5cd7fe4e84288_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzE4LTEtMS0xLTUxMDQ0Mg_ef8b8ec5-4318-4211-80ec-4be696a74885">0.10</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzI1LTgtMS0xLTUxMDQ0Mg_293c8e0d-d9da-461e-897f-315e989ca6a1">20</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" 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1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="if5f30c00d5e3438d80d5ba726c9dec2a_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzI5LTctMS0xLTUxMDQ0Mg_671aff4a-0fbb-4685-b1b9-1b8c0bcddcda">0.66</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="icfb26fc0a1e74b478da0e8644aaaf6fc_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpiZWQyOWE4YTc5ZDY0MDA0YWVkMTA4NTQ5NjkxZTkxYi90YWJsZXJhbmdlOmJlZDI5YThhNzlkNjQwMDRhZWQxMDg1NDk2OTFlOTFiXzI5LTgtMS0xLTUxMDQ0Mg_afbef794-5a4b-460c-9139-4292ee014491">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div></ix:continuation></ix:continuation><div><span><br/></span></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-188</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i743f478376df4eef9835ecd5bea2e035" continuedAt="ic16a760dbfe740a48b5445431681a3a6"><ix:continuation id="i1fc8c1bb91874294b0e6dce2f2e0b2a1"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:28.812%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.964%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.848%"></td><td style="width:0.1%"></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i91e37a4ff9324a89900ce1dd3eafea13_I20221231" decimals="-6" sign="-" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzYtNS0xLTEtNTEwNDQy_d31b39e4-c866-48c5-a663-823fd884d860">0.76</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ibf656addef8549b9a2091e8878565e81_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzYtNi0xLTEtNTEwNDQy_5a120cf5-1644-4eb0-a7fd-d677173e9724">2.18</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i62ee11c10bf74ba5a6bffd7556fcb8f8_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzYtNy0xLTEtNTEwNDQy_6d311809-94d5-4922-899c-1860d0959a50">1.89</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib93df9cb625447478e59a72bc2d9d116_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzYtOC0xLTEtNTEwNDQy_fbcf61e4-a23c-42bc-80ce-eaffb2233618">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9d4c18bce6204aaf9957b715ef9ac258_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzctMS0xLTEtNTEwNDQy_d2fe63b8-617b-4404-a4e6-72310d27da98">1,500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i46dafd6207734d329db237261d963d09_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzctMi0xLTEtNTEwNDQy_9e308410-91ca-4201-9c55-c1a042b8e36f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i04c6d0577a7b4083aaa22b2dd3983012_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzctMy0xLTEtNTEwNDQy_e165604a-e70b-4b3c-830b-c0c598cb78f0">125</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzctNS0xLTEtNTEwNDQy_351b3eac-89a3-4b48-b9d6-324a4cad4c8b">100</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8858643a7b084d359ba43eae31cba402_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" 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unitRef="eur" contextRef="i04befbaddf734672a737767b9616de60_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzEyLTQtMS0xLTUxMDQ0Mg_929c62cd-2052-43c5-9a4e-f7c29b5bb637">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5b08e59ffbbd4a2aa9ec6ae61adf2245_I20221231" decimals="-6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzEzLTctMS0xLTUxMDQ0Mg_21b707d4-d191-4750-a403-38cb413c8d08">1.13</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4ad1c3ab648c4188b2a42e61d001dd52_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" 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contextRef="ib001f02c91224c5b90af7ad2b1d7be2a_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE3LTgtMS0xLTUxMDQ0Mg_575ed42f-5d36-4c9c-ba9a-fac33203f9a1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i79c3e536e8b141709a4726d7bee90e50_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE4LTItMS0xLTUxMDQ0Mg_4a7d066c-99a6-46c8-adf6-a3cbb5bdea09">83</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iba049d2a10524aa69416cd595cc34079_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE4LTMtMS0xLTUxMDQ0Mg_6ae36337-a063-462c-a5b9-c25710621586">423</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i257653c99c034f3fb3c14158083d5bdc_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE4LTQtMS0xLTUxMDQ0Mg_bb345215-39f8-4dd9-97c9-78e17735927b">3,757</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifaf8604cae984820897135bb3fedf7cd_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE4LTUtMS0xLTUxMDQ0Mg_40354f70-2e04-4a52-b7a8-b34b8f2ab209">4,590</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3e5bd650438e4a57a2c5ec5e73275159_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE4LTYtMS0xLTUxMDQ0Mg_73a48515-176a-4401-976c-6529de22675a">9,532</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i692693ce20d948bca5b45356ea6d7fb5_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE4LTctMS0xLTUxMDQ0Mg_2086c209-3ff8-41aa-b439-63b08526fae4">19,207</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8ee7f1c98cd840ee97e60164816f107d_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE4LTgtMS0xLTUxMDQ0Mg_10fcebfa-4a3d-4baf-8419-27b9fae51b95">12,152</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i20d60ff6b7ab4d15b127bf876efee200_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTEtMS0xLTUxMDQ0Mg_73092047-1c46-4c91-846b-8fcb4229e619">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="icee97ad5ff654cdea5a183186a072ff5_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTItMS0xLTUxMDQ0Mg_dd8e3fff-b75c-4d70-8f80-22e7b2470f17">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i9fc28ed607f146bda6d2a607019cbaf7_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTMtMS0xLTUxMDQ0Mg_f19c2407-e669-4432-848b-6832598354d3">1.03</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i13bb1a7328864081b0c00375c1ddc854_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTQtMS0xLTUxMDQ0Mg_60e1660c-2462-4a75-83d4-f96b1b0a5287">2.78</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i29f7ecae60a8433080e9a388ed40e0f8_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTUtMS0xLTUxMDQ0Mg_d89dbac2-40e0-4a64-b1cc-b66351ca4991">0.92</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i63183f831cd747b28a9d7e83328b057e_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTYtMS0xLTUxMDQ0Mg_1bccedaa-fbce-481b-83a6-44ffd1d014ae">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i37e019097f1848e5855235c766161d9e_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTctMS0xLTUxMDQ0Mg_19ff6fd4-bdc2-497f-9700-ad698a825a4b">0.79</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ib001f02c91224c5b90af7ad2b1d7be2a_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzE5LTgtMS0xLTUxMDQ0Mg_7118196c-d3c8-4945-83e4-4dcaedd8c0fe">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GBP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icf9132d9e81548aeae5f14cfa47ac7bb_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzM2LTgtMS0xLTUxMDQ0Mg_91b17291-fd7a-4295-9806-f0bf354027ce">16</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0d898c3543c744739700d50145dc03f6_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzM3LTEtMS0xLTUxMDQ0Mg_db335286-ed87-48bc-a161-0225417db2d2">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4701ffec3ecf473abd9249c6c856c474_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTozYmRmMWUzZDY5ZDg0NjE3ODg5MDNlNmE0NGNiNGFiYy90YWJsZXJhbmdlOjNiZGYxZTNkNjlkODQ2MTc4ODkwM2U2YTQ0Y2I0YWJjXzM3LTUtMS0xLTUxMDQ0Mg_73c0bb15-7da1-45a7-ab33-5214045c05af">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid 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style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:28.812%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.964%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.430%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.310%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.671%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.848%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CLP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icbf5b65c1ded49c8a495aa1fcb9abc60_I20221231" decimals="-6" sign="-" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i82b773ed51d54cff891f868b24a65b7f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzMtMS0xLTEtNTEwNDQy_8bba2dac-ebd9-44f6-a7ad-ceaf7ad66144">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if016d4990c8149f1bb942446e51fa311_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzMtNC0xLTEtNTEwNDQy_8e95b939-7bd5-4196-b58e-7f574093d6e3">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 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0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ibabd2a6f4edc4281ad070c3e1f4051d1_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzgtOC0xLTEtNTEwNDQy_68ee5511-5a69-4126-9c7f-a2c37dcd9175">9</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid 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colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic76271be5ed84884ab30ff07b0d6df78_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzktMy0xLTEtNTEwNDQy_0700f4d3-57d6-48a3-b627-faeda0ca15e8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icfe507b249a74ed1bd203c9385affb5d_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzktNy0xLTEtNTEwNDQy_cbea9d99-23b6-4c54-9161-c82a863ee4af">127</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ia6d9d6293e8f43c8a6acc12d51f870c7_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzEyLTYtMS0xLTUxMDQ0Mg_7996d7f1-8333-409b-980c-9ea388bd2d54">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i63815d32e3ea452cb1421fd848b0121f_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzEyLTctMS0xLTUxMDQ0Mg_82ef7483-849d-4280-9907-28534267e400">1.54</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ibabd2a6f4edc4281ad070c3e1f4051d1_I20221231" decimals="INF" name="ifrs-full:AverageRateOfHedgingInstrument" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzEyLTgtMS0xLTUxMDQ0Mg_ed090499-5703-411f-bf3e-ea304dd42021">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">COP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i452da70824b447a4af0a1741b21ab13f_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzMwLTgtMS0xLTUxMDQ0Mg_452620a7-9787-4d30-88ab-697b4d62b50a">106</ix:nonFraction>)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic4cfd8d07dad4facbb272e3b20472337_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzMxLTEtMS0xLTUxMDQ0Mg_1d973446-4c16-4411-bd27-d79c3345666f">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6403b40e09014668be248bab0d96ebde_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzMxLTItMS0xLTUxMDQ0Mg_87d515e2-2643-46c8-8fb2-66f0a10e7792">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibfd7ee0b3bf04031a796a952fcb60b03_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzMxLTMtMS0xLTUxMDQ0Mg_5ffa2a8e-a5bd-4534-ba0a-ac061d837c5b">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzM5LTgtMS0xLTUxMDQ0Mg_90225fcb-273f-4598-8c5c-272a94f58cfb">391</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i26287bf0ec054822ace9dba91e186fca_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTEtMS0xLTUxMDQ0Mg_26883a19-5a03-46b4-a5bf-204c63721972">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i30f4798654a64ba1a07af05f7f211843_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTItMS0xLTUxMDQ0Mg_7466e75c-422a-4ec0-9a29-59ddfc66bb49">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="id3b99cec0ac14adeb28a689a0f990378_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTMtMS0xLTUxMDQ0Mg_df6c8628-516d-4047-872c-f72a2d76ac36">3.19</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i3d153b44214145cc8eb816f7736fb165_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTQtMS0xLTUxMDQ0Mg_01cbb35c-5410-4321-b986-2b6a8730b510">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i6e188c39e6d344629dbf6fe2c378fdd2_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTUtMS0xLTUxMDQ0Mg_e8218bc1-720f-45ee-9c56-4c3b965ae8e0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="if0dabd6f74db4ce6a156471419175782_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTYtMS0xLTUxMDQ0Mg_52f938f1-7d36-494b-ab72-c57d5710cb7e">8.09</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="ie54d7c3e3bb746ac886068937420c137_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTctMS0xLTUxMDQ0Mg_e8014bf1-3ff0-48cd-a2be-51e10d7002f4">3.48</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="number" contextRef="i4949e6bd11504386b7d7ae44eb05274f_I20221231" decimals="INF" name="tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate" format="ixt:fixed-zero" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTgtMS0xLTUxMDQ0Mg_8a19d9cd-ed6a-42dc-ab3b-35100c40c4c1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div></ix:continuation></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-189</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.549%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.426%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.621%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><ix:continuation id="ic16a760dbfe740a48b5445431681a3a6"><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:MaturityAnalysisForDerivativeFinancialLiabilities" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyOTM_bb9a6edf-5818-445d-bbc2-90459261cca9" escape="true"><div><span style="color:#ffffff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> rte options, by maturity, are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:33.599%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:17.494%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.640%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.538%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.684%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.538%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.836%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency swaps</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6d7a1952b661472fbad9c5b7728bcf8a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzQtOC0xLTEtNTEwNDQy_93168502-e252-4df9-9852-0b6ad120a279">30</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if26fc77b9a1c4a43aeedff62e7e15663_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzUtMi0xLTEtNTEwNDQy_70d7fe5a-3fb3-4165-b48f-7dc36772bee7">282</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i79c25266bef24475ad4e9f65918fbd2c_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzUtMy0xLTEtNTEwNDQy_648ed636-f0dd-42c4-8ccf-036929db0781">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2fd46a518b684c14a86cd828176fe4d1_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzUtNy0xLTEtNTEwNDQy_a8d5e4e1-6c9a-47a2-baa7-b57315fecc8b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia069a3fc81504afd9a92c8df9de2fef2_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzUtOC0xLTEtNTEwNDQy_67aa3033-f11b-425e-8d6d-59c0f0011819">282</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3eed8858be224fdf98e4f7398b1a37cc_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzYtOC0xLTEtNTEwNDQy_9f792fe7-8865-4237-a84f-0de92a1d42f8">76</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8fcbf426fbec470aa8393ad3f79e6c3a_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzctMi0xLTEtNTEwNDQy_785774ef-c0a8-40f3-8885-5cc39f82fc65">335</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i93c9b781a5eb492caffdeb187759eabe_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzctMy0xLTEtNTEwNDQy_dfd96b0f-9c18-48e4-b1b6-3a67df1ed2df">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a47e3d5aa0a4f82a90ab63ddc446a89_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzctNC0xLTEtNTEwNDQy_127f32e1-0811-4abf-8586-3187ffe37ef6">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4345902f7ef24d9c8cd169a3622c3f8e_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzctNS0xLTEtNTEwNDQy_4d06060c-0919-4cd3-bb58-567f111f86e2">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2766fe5bcd5a4852888a3cf581d284f2_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzctNi0xLTEtNTEwNDQy_017fa42c-d5b6-47cd-abc9-5584756ed54f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i55af3b5a8dfb405f8791299958846918_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzctNy0xLTEtNTEwNDQy_f102ac2d-9b56-4b9b-9f0c-19332ad2178f">460</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2963ce9bc4004e59ad1fdc8d4defdce6_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzctOC0xLTEtNTEwNDQy_c1daf382-2498-44c1-913d-f0445d649af7">795</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6e1e19ee36a245468de0b4d30bcdecfc_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzgtMy0xLTEtNTEwNDQy_ee64f881-9952-44cf-81bb-62ac6a9eb757">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8a3bc5a2e55d483fa10631fee70f1430_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzgtNC0xLTEtNTEwNDQy_e8ff6888-4431-4296-8f8b-22c7796d44e3">367</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i59192c021ef647209045139c4d4d9ced_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzgtNy0xLTEtNTEwNDQy_a331e64d-3118-4c55-a802-59cd163b31c4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i68942710098d4e38a8ab5745c678d66b_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzgtOC0xLTEtNTEwNDQy_3d6a7f9d-3c44-40b7-a95d-f2790595c149">367</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1fd7d4940315417bbab4034afb7862e1_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzktMi0xLTEtNTEwNDQy_ba53047b-41a0-434c-b89b-8a76cddfd0c1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3ab70ba0532b43f3b0dc6a75021137dc_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzktMy0xLTEtNTEwNDQy_e7b1d7cc-d8f4-416c-9165-0278fac665ec">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if1969887afa44c349cf84fd709428986_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzktNC0xLTEtNTEwNDQy_b501213d-2169-4956-943d-5175716752af">367</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia997752158674a7cac9b95c036c8402c_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzktNS0xLTEtNTEwNDQy_cd860ea1-b03b-4dca-beed-7945d9db44ce">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9b5c3820c1dc436aa7909ff4c92fb605_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzktNi0xLTEtNTEwNDQy_a95f94ce-145e-463c-915b-7eed68baab21">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i350a7435b6fa4d4eb1ab6037c8529861_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzktNy0xLTEtNTEwNDQy_6a520823-6cae-415e-ab12-03f6ba7da2af">367</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia1a9ba71a89c41a797c3dff9568cf378_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzktOC0xLTEtNTEwNDQy_b4d18b34-183d-4c7e-ace2-290b537598b2">734</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia7f8e5aaf7c644e18f896e43140dc326_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEyLTItMS0xLTUxMDQ0Mg_633e01a0-9ed6-4513-b65f-84ccae83f503">1,536</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i221ac44fc2504909864f2194e488cb10_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEyLTMtMS0xLTUxMDQ0Mg_4094c0da-32bb-4c37-a47e-79b5edffcd42">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idb3179f52f6c4ba8a45738f9f5895b03_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEyLTQtMS0xLTUxMDQ0Mg_dd7409e9-1c97-4d3c-81cb-bfd196f1c73c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib87ceb1232a241abbdbaff1ced698d24_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEyLTUtMS0xLTUxMDQ0Mg_b1589d8d-d806-40bd-8153-2bb4cc3d7660">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1feff83307b245ef8ae3ac39dcb75905_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEyLTYtMS0xLTUxMDQ0Mg_ff3376d5-ef45-4d07-88bb-8fee06ab491e">2,542</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib37e0652f19f4c219e6a5545eeb3097b_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEyLTctMS0xLTUxMDQ0Mg_a023cc9d-1fce-4c40-847b-f50a08ec5a54">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i91de397b8e724133b08cfa07db739c83_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEyLTgtMS0xLTUxMDQ0Mg_c0c5de5c-afdf-41f3-bcda-0fe43b98d5f9">4,078</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2b0674546972462191802c57f79fcf46_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEzLTItMS0xLTUxMDQ0Mg_077a1dbe-1709-4b95-bf21-e01cd6ea697b">673</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i41fee6900ffb412e8c211dd70b9bdebd_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEzLTMtMS0xLTUxMDQ0Mg_513431c2-ec23-4ff7-ac22-01f0437de6f1">80</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0f91669ff7554fc3b512b09e796c3f79_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEzLTQtMS0xLTUxMDQ0Mg_361a1d36-14bf-4355-974c-12bb3cff32f0">46</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i9bda7d2fc7974157babcd92e43dcb838_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEzLTUtMS0xLTUxMDQ0Mg_1fc486fa-1002-4568-ac5c-22c4a58d5048">2,352</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia880c3ba5b3b4fa181303ce9d4be8996_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEzLTYtMS0xLTUxMDQ0Mg_6339e415-3c1c-4d24-ae7d-c84acc9ef165">3,966</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4f4a563d8fe14686b648e57a92a6f542_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEzLTctMS0xLTUxMDQ0Mg_19a05b20-6cfa-4146-b131-b573e44538aa">6,907</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ie622184843d04c359a5642d751765fa4_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzEzLTgtMS0xLTUxMDQ0Mg_8b8e2c2b-f150-41f9-9ddc-415bc554f663">14,024</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia56b412f30cf4e019043fb71edaea684_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE0LTItMS0xLTUxMDQ0Mg_a3db942a-9e74-462b-86ae-51abf1e262c8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ica683076731b40b887e1ce9e4306136c_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE0LTMtMS0xLTUxMDQ0Mg_7bd25e59-8bad-4f4b-97e2-e3f42b90593d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i296e340751124823a0abb0e3217a93be_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE0LTQtMS0xLTUxMDQ0Mg_ab90e995-a0bb-467c-9096-4e42cab920d0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i218f15a607794498b360686b1122edcc_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE0LTUtMS0xLTUxMDQ0Mg_db965027-1de8-497f-aba8-96e317e19927">564</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE2LTgtMS0xLTUxMDQ0Mg_a16c8365-561e-4add-9182-71e49a5c412b">107</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">JPY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibafb98dc08814cc0b36c4214a9b4b4bf_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE3LTItMS0xLTUxMDQ0Mg_158cdbfa-de22-4d27-97f5-e04ebc8df16c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i70026e81675b4822ad04bb436020754c_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE3LTMtMS0xLTUxMDQ0Mg_234b0d9d-bb5e-41f9-b70f-d14507308fef">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic1e011eada1f4eb0a4a16d91d142e596_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE3LTQtMS0xLTUxMDQ0Mg_eb39585a-35fa-44a7-8e81-5ea9e331cf39">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib638efcbd0c248cf9747691879f6aef4_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE3LTUtMS0xLTUxMDQ0Mg_d599617b-1ce4-4296-b3ed-da02c9869a43">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i65b532c54ea743f0ac769b76d6678900_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE3LTYtMS0xLTUxMDQ0Mg_0e104806-b07d-4463-a9ba-286970978e21">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3599b778bfa84e29abcaf777356ef574_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE3LTctMS0xLTUxMDQ0Mg_e344f22b-a710-4e04-9459-9f0e50eaf4e8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5d362eced36d4cf3a18b7073bed6e52f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzE3LTgtMS0xLTUxMDQ0Mg_f6420859-ed94-422d-b40f-92fcafb31bab">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i72f7b1801e0948699d0d37079c1781a6_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzIyLTItMS0xLTUxMDQ0Mg_2fe1fe39-27d8-435f-814b-ebfd3aecd31c">231</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3907064e2f3a41dc87724f97be1349a0_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzIyLTMtMS0xLTUxMDQ0Mg_38e44136-3406-454d-92ff-180057882857">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i48b816ab2880416c98dc625b2b90e6ac_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzIyLTQtMS0xLTUxMDQ0Mg_9b040764-450e-4e77-9603-3509aede5eb6">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzIzLTgtMS0xLTUxMDQ0Mg_8ab58c1e-cdac-4e37-bc39-fbd88bf664c1">115</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id2b0a64003684c84b0f95aebd17abe88_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI0LTUtMS0xLTUxMDQ0Mg_eb5fade2-a5ab-42e1-bb88-639a75ac1f69">1,883</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3831cd8b283e4421b7a79bc786f6e98a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI0LTYtMS0xLTUxMDQ0Mg_0ada6b63-6f61-4f19-9aac-8c1a8d04e108">3,934</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i95ddac6bdc9f42b4a8028ddc2fc5e997_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI0LTctMS0xLTUxMDQ0Mg_620440a6-72f4-456e-a5fa-aca57db6b849">7,659</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9879c0e474ac4aafa6124c692942780e_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI0LTgtMS0xLTUxMDQ0Mg_e0b7bde7-1600-46b7-8644-39b815aeb524">15,373</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id640cc0030974ce5a6d636c1811f7864_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI1LTItMS0xLTUxMDQ0Mg_cfe9ad99-5315-4a72-900f-8c43d63c5999">1,665</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if116bcd899ed44e1b1e0571b88da813e_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI1LTMtMS0xLTUxMDQ0Mg_d55ef712-2602-4dea-a7e5-918efeb2b29b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ic80f0d1a80fb4a7797481a4673e02761_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI1LTQtMS0xLTUxMDQ0Mg_ae59d581-3f64-487c-ae8f-25347451aea1">468</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i57426ee43ace417d9cad83cba13e17cd_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI1LTUtMS0xLTUxMDQ0Mg_582704f4-496a-4cef-9761-bf677dd3f898">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i98c122111fcf4c64a9330d6f0e7fdbe6_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI1LTYtMS0xLTUxMDQ0Mg_3513b17c-9f52-4edd-8a3f-2c87aef11035">2,529</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3507ecc7a74c41b7a0bda9808b82f38b_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI1LTctMS0xLTUxMDQ0Mg_05298552-8d6f-47c9-b7a5-2a23b5413ca8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i50f6699d2c6245b0bad2adfa08c851bd_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzI1LTgtMS0xLTUxMDQ0Mg_79bd4d65-aadd-43cf-8585-e410de81519e">4,662</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i35e9e9d5354a4d4f9aeddade531a093d_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzMwLTItMS0xLTUxMDQ0Mg_18db1678-9f77-4a8d-b5f7-387e4ae13b1b">100</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i623a781c78b34268973eb13415e9fc9a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzMwLTMtMS0xLTUxMDQ0Mg_226511c0-35e3-4249-803c-66fcd0efe81a">3</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic2614bc866064afa8ab638a08456c77e_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzMwLTQtMS0xLTUxMDQ0Mg_9b1f29c5-3de7-4e8d-b84b-fe26b5e611c6">3</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i79207083bce14f8eae3518a6339d9556_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzMwLTUtMS0xLTUxMDQ0Mg_fbe3b83e-6757-408d-8483-a67bb72f968a">95</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ia831b1cbebcf411fb59edf318b874580_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzMwLTYtMS0xLTUxMDQ0Mg_331b60c3-7227-4404-9681-1a8fe4e4adee">19</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i708ff4531d7f4ead9967345f25172aeb_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzMwLTctMS0xLTUxMDQ0Mg_aa8f6758-cc1f-49b9-afca-e00b2be25162">483</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="iba8c22ba8ee4440c9f6335ed101fc7ed_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTowMTc3ZjI0ZGIzNjg0NjllOTEwOWUwODE5ZjY3YTkwMC90YWJsZXJhbmdlOjAxNzdmMjRkYjM2ODQ2OWU5MTA5ZTA4MTlmNjdhOTAwXzMwLTgtMS0xLTUxMDQ0Mg_261beec6-05b6-4b45-846e-354c1fa47729">665</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (<ix:nonFraction unitRef="gbpPerEUR" contextRef="i689f52f45bac4c2ea9600b7593427a8b_D20220101-20221231" decimals="2" name="ifrs-full:AverageForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzk5NQ_38096e08-73ee-4e47-a214-4e14884937bb">0.83</ix:nonFraction>), EUR/USD (<ix:nonFraction unitRef="usdPerEUR" contextRef="i689f52f45bac4c2ea9600b7593427a8b_D20220101-20221231" decimals="2" name="ifrs-full:AverageForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEwMDk_d595f87d-04ab-4f0f-bbf0-b00ab4b0a2ec">1.13</ix:nonFraction>) and USD/COP (<ix:nonFraction unitRef="copPerUSD" contextRef="i689f52f45bac4c2ea9600b7593427a8b_D20220101-20221231" decimals="2" name="ifrs-full:AverageForeignExchangeRate" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEwMjM_4a938b19-d19d-4d25-bdd7-4333b6ffa187">3,742.44</ix:nonFraction>).</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:17.494%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.640%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.538%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.684%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.538%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.836%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="6" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Forwards</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i379acb56037b4231a70a25a09eae7587_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzQtMi0xLTEtNTEwNDQy_07eb297e-a836-42b5-97bc-bb61e7839941">213</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9f461f4689a54691be28185c74710933_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzQtNy0xLTEtNTEwNDQy_4ccf63e2-4105-4a27-b472-576660ed79f1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i24f411ead5944082bdf9e5b54c12e3a1_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzQtOC0xLTEtNTEwNDQy_b6114782-1d5c-471a-878d-fc4b0a42635c">213</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i620113e15c2942d28881ddead927c623_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzUtNy0xLTEtNTEwNDQy_42f33e3b-3456-49e1-b333-d2b170ce3c7b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2a3c95a3fcb64b2faec16bd6871598c7_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzUtOC0xLTEtNTEwNDQy_7ee0f1c9-4b51-4c4f-a235-fb157b0278f9">2,587</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic349c0897ec1485a9d30bdab236ebb53_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzYtMi0xLTEtNTEwNDQy_5c003937-589e-41a5-8e29-71dbc1f403ac">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3ae765995e8d45cebfeaec6b5fe21d7b_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzYtMy0xLTEtNTEwNDQy_a1d8296c-87d1-4f9a-bbf8-2de21f9f7136">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if27691f2565d4b7e827b6078e0a7ee23_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzYtNC0xLTEtNTEwNDQy_0c07b5b2-105a-4e07-8d2d-169f9bbcc559">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ibbfc73bc785a41ada995c62314ae750d_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzYtNS0xLTEtNTEwNDQy_31e7672d-639d-46fd-a935-38bf3696d88d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i32d9df0c8e40491fb7400837595b5887_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzYtNi0xLTEtNTEwNDQy_31a8382a-585c-4c01-b429-190af44f819d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic90913520e2b44f6879d2556afa86dd3_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzYtNy0xLTEtNTEwNDQy_27bfba11-6171-4c86-b036-52feb9b77bd4">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic2456877e1f248868cf03c8415a54a55_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzYtOC0xLTEtNTEwNDQy_5365772b-e3f6-4d4a-9acc-d76eff9d22ce">25</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i12880c9ec182459cbd4790e0b60d0ec8_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzctMi0xLTEtNTEwNDQy_6d5c55db-e36e-4ddd-bb27-937dfdf3b2f1">740</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i0751d262f8844e86b5992d635e4968cb_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzctMy0xLTEtNTEwNDQy_00936506-852d-494b-83d2-1c47fe932df2">28</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i713c8b52a49345b48d9dc8934aee7fb5_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzctNC0xLTEtNTEwNDQy_d7fa6cd3-00c7-4458-b1ed-599e14db5c2c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idfd51132034b4247b93be4041f951ff9_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzctNi0xLTEtNTEwNDQy_aeb3272f-9150-4eb4-afbf-42ebc0acc9c7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1c7b7e740bba4486b6fdb3aa82aaff09_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzctNy0xLTEtNTEwNDQy_f03f9393-30b4-477a-bde4-21670f9c853b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="id6b1f73137604e189292c2d95cb468dc_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzctOC0xLTEtNTEwNDQy_175bb725-05a0-4826-90c3-afb96632828d">768</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9020451d710842559975cf7ecdffad00_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzgtMi0xLTEtNTEwNDQy_5a01614c-02d8-4109-8973-6225ee5b7ce5">114</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i20bd56228b9b4780b2d7a101a1054c91_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzgtMy0xLTEtNTEwNDQy_c8a41886-9d8a-4b1e-abd7-a1b3876c6b25">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i11d2e54c9fd043b98cc6c969f2222d07_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzgtNC0xLTEtNTEwNDQy_4e429c85-2000-41a5-892b-fc7f6464a7c8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1553002240804176b4235bd53c4f5086_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzgtNS0xLTEtNTEwNDQy_51612743-8366-4531-ad90-5ba90242c62c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ida7e1f34725d4a25861743e7fe6eff78_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzgtNi0xLTEtNTEwNDQy_38c61770-d2ef-48b6-93e4-c6da0035570e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic41cd6ae165f4e0eb06715907b183d5d_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzgtNy0xLTEtNTEwNDQy_bbb4614a-b3e2-41e4-9a12-1287c804391a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i042feacf377743cea304d72a1cc2592a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzgtOC0xLTEtNTEwNDQy_bac3b761-e366-4bb8-8a6b-54aa1fda87d8">114</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="ib6d0a714feb14e4585369c1ce1991aef_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzktMi0xLTEtNTEwNDQy_619a89fb-0b59-4a62-88ae-ad38a18b9300">213</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i579ae7c5820d4f91ab3cdac6aece0e55_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzktMy0xLTEtNTEwNDQy_a38f4c13-b4e9-4592-8eb2-3133e319983a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7da46328d52343d79aee4a9e1b2eac1f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzktNC0xLTEtNTEwNDQy_7faa075b-7b3b-40e8-a001-cbf7ff9e4864">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i260f0c2fd984467fb223973937b50fc2_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzktNS0xLTEtNTEwNDQy_e06cffa6-305f-4fca-97f6-e8dcf0ef52e5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i848e7fcfc95c4867a43b299a700b2cdd_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzktNi0xLTEtNTEwNDQy_36e2130a-3460-4f28-b42f-0fde1f6ca801">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i547139625fbd45a0afef1ed80f0dabe5_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzktNy0xLTEtNTEwNDQy_7b01a0ed-eb50-4dad-9fba-410a7fb6c051">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="idc739b4e0ca44b55b293ae5f9962a319_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzktOC0xLTEtNTEwNDQy_f8dd3f4b-f808-4de0-8f7d-626a3baa9c88">213</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7a479317bef24bc48e5120647be4d846_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEwLTItMS0xLTUxMDQ0Mg_d8a51942-1359-4055-a6a9-e82580ec537d">87</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie2598fb1bba24616bff737ca900b2cfa_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEwLTMtMS0xLTUxMDQ0Mg_231d1450-ee6c-40cc-93aa-c52c17be33db">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i143033537eda4d24b0b4538da5ca97a6_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEwLTUtMS0xLTUxMDQ0Mg_7cd7d33e-acd2-4c0d-bfb3-a9166af45e56">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i12d2b6369f2d469083a083c92705b745_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEwLTYtMS0xLTUxMDQ0Mg_dbba0908-fafc-47e3-9f2d-37873e8f742f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id1e602bf47dd4e46a2efc80fe8dfdbf4_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEwLTctMS0xLTUxMDQ0Mg_8be866c0-c516-4335-bbaf-64f74d4c9717">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ied2b6a69c96d414da47e61a77dbf8fde_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEwLTgtMS0xLTUxMDQ0Mg_72f06978-cdac-4a60-8917-55f2a79029dd">87</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8140e420feea4fe297cdd60359a5c56a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzExLTctMS0xLTUxMDQ0Mg_58136119-f1ea-4bf3-9fc4-b3075d4e0bfd">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i45481a8c65cf423bbef2b19fc5a7ca20_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzExLTgtMS0xLTUxMDQ0Mg_e82335ee-f6fe-4921-98c6-02ce299d81fc">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i341a6161390c42e7828eea618bb505e1_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEyLTItMS0xLTUxMDQ0Mg_0a6039f3-b6b7-4e8f-b274-8a6ed66d01d7">4,583</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib7eca076c8cb49eb9d678b36a5383676_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEyLTMtMS0xLTUxMDQ0Mg_68b6d510-449a-43b3-9b84-a5185749e848">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="icc017e6db00e409bb8325f7ab125018d_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEyLTQtMS0xLTUxMDQ0Mg_383a13eb-e7e7-489b-8e34-eb92c80f1d2c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5f3042acd73c4cfb89279c7c7afac91d_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEyLTUtMS0xLTUxMDQ0Mg_f39762ef-4455-4013-891d-16cc4be88422">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ife28830ccead4a84a05667966a218925_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEyLTYtMS0xLTUxMDQ0Mg_8e83b7d0-75a6-413a-8610-fbcada395bf5">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5b068d1af6eb434092cc397d0e9eff67_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEyLTctMS0xLTUxMDQ0Mg_ef9822f1-b3db-4547-82c6-d1b1d0324e11">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i585b584399794a24af85786f284dd8df_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEyLTgtMS0xLTUxMDQ0Mg_0190edd3-038d-4fc2-a8a7-309666d5f8fa">4,583</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i56b82985a8b04cd593335aba47a6a807_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEzLTItMS0xLTUxMDQ0Mg_bc1628ad-6714-43f7-a417-7074823b4ce7">890</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0fddf8874f134813ba0e0b0cffeb91bb_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEzLTMtMS0xLTUxMDQ0Mg_22bdab77-9906-4a3e-a9b9-8ee3f099a194">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8b80eac49f9845af873d9d064e428783_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEzLTQtMS0xLTUxMDQ0Mg_fad8c1e7-523e-43e0-a32b-abc3a6ddfd7a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if228220e717f49338a0ca1e008e7152b_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEzLTUtMS0xLTUxMDQ0Mg_7cf12311-1001-4a0b-816e-905df72b230e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i7edd0361f1134bfca276660406bbbbc2_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEzLTYtMS0xLTUxMDQ0Mg_616481bc-f245-404c-8857-06b8026ab05f">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8f45e09af7c14913a089fe64c814f101_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEzLTctMS0xLTUxMDQ0Mg_0fefcc8d-b180-4b89-881d-07ee4608faa9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i1a37f013bb7143b59d113c1bc4e5f93d_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzEzLTgtMS0xLTUxMDQ0Mg_a021ebea-227c-4728-8c34-36d174ad4c0e">890</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idec7aacb4f154817a3abb63d6b330c1a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE0LTItMS0xLTUxMDQ0Mg_f2ab99f5-7e12-452b-bbd4-165c3c2dd00f">24</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ife2ddce98a644916a728ad841d09e38e_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE0LTMtMS0xLTUxMDQ0Mg_e964a74e-988c-42c7-92ab-80eb10a19a40">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie8c21b503ab344b1b9a71e2a9c4c0876_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE0LTQtMS0xLTUxMDQ0Mg_f0348a71-5247-4dda-898e-5c7a3db617d1">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idd050205681e4a768b32873d54c35b47_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE0LTUtMS0xLTUxMDQ0Mg_cf867bd5-a2d7-4e0e-90ed-1e905151c7b2">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i6b965e2333994d5fb40c2c896813fe22_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE0LTYtMS0xLTUxMDQ0Mg_66d58ad5-27b6-4b25-ab83-a91d046d2b97">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i28a186ff817c4c8d8d7ac11c918d3cf3_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE0LTctMS0xLTUxMDQ0Mg_8fb87c36-b7d9-4a0f-9ec2-ab773d51a64a">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1335d50fa3ba438eba5f8be4071a41cc_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE0LTgtMS0xLTUxMDQ0Mg_4345a90b-05a9-4c92-9a86-d2d96630a34e">24</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i2526145718384286968dd12a6a6004b9_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE1LTItMS0xLTUxMDQ0Mg_704b5f47-c0ed-4b61-84d7-b38f2f5f0123">796</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic1ec9342a59042a8a06c0be0fc9ab23f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE1LTYtMS0xLTUxMDQ0Mg_131d6870-b151-4c3d-9610-8539902bdc01">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i80c3b35a402e489b8d468e68c4fa8d8b_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE1LTctMS0xLTUxMDQ0Mg_131650a8-25dd-49cd-8fe2-1ffee9a72262">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="icd724d0570b9434e930a3239d43e7f4b_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE1LTgtMS0xLTUxMDQ0Mg_e4142731-bc2d-43ea-b7d8-5be1920b3e3d">796</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i67184ed037754dd8abae40d92d82aa74_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE4LTItMS0xLTUxMDQ0Mg_bb0fd25d-d4de-4dcb-95ad-e1a42ecad9e6">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i65bd10aaab824342af8a67628ae7df23_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE4LTMtMS0xLTUxMDQ0Mg_b64ab9a5-06b7-41cc-b05d-67b16be2da40">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i69f951b49c364e2a89e86c8bf1f8b6d1_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE4LTQtMS0xLTUxMDQ0Mg_8de02501-3814-458b-9e6c-94dec5ae3e7d">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i08c0a675548c454fb31182bb3f710cae_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE4LTUtMS0xLTUxMDQ0Mg_38739f35-e090-48c8-838e-efb3aa09bdaf">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i14f8afa2dcde42a88069bf69828475f8_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE4LTYtMS0xLTUxMDQ0Mg_66db4fdb-fb6e-4607-b328-d854060f9aa6">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic5fe5466201c4cee97c148534d75c665_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE4LTctMS0xLTUxMDQ0Mg_006899e4-ab07-4a56-91ed-91c3247fdef8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i4b64c9a351e44e908c62ac37d2d512a0_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE4LTgtMS0xLTUxMDQ0Mg_c0215eb2-8728-48a9-a31b-b51c44cbe62e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i28ef6b30f41d4243bd8460040bf07eb9_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE5LTItMS0xLTUxMDQ0Mg_9fc8490e-b982-4b9a-8839-098d9dc39ae0">217</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i3d2f821047794d03bdc4208478925eb0_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzE5LTgtMS0xLTUxMDQ0Mg_7d0b57f7-2568-42f6-94dc-9183cce90111">236</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i84678182ffae4202ba91774709ccb020_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzIwLTItMS0xLTUxMDQ0Mg_7415d405-d9c9-4908-aaa2-77834116d91f">32</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i35f3f8aa9b1d4010af7e62fd22a102da_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzIwLTMtMS0xLTUxMDQ0Mg_066aa879-a75a-482a-9f1c-84f9e7789517">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie0aa35cf52ba454bbde52c3c6ff22d47_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzIwLTYtMS0xLTUxMDQ0Mg_4ae69788-d6fb-4d37-a08b-c1cdfcbd793e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3eae6bc5761746cfa86231ecc7a6c327_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzIwLTgtMS0xLTUxMDQ0Mg_ab1d9854-1a3d-42dd-9b4c-3b489c8737e9">32</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5573b087f5634d9e9f6f6978d7bea553_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzIxLTYtMS0xLTUxMDQ0Mg_ceb76a4c-bd2d-426e-bc47-3f1950d0b288">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0a576c07aa234d29a15fa64724f801ad_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzIxLTgtMS0xLTUxMDQ0Mg_8408b76e-4560-411d-8ddf-91b094cfc4cf">384</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i86951834f7cd45e2aa108aeae65911a6_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI0LTItMS0xLTUxMDQ0Mg_fd628d9a-4b30-4da7-b57e-a9052ece7a97">1,919</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia05f65248db741a38f772b684a646903_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI0LTMtMS0xLTUxMDQ0Mg_b114f0e1-6dab-4e15-a1cc-2157569cef76">43</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i285f284846204d2f81668ae643210b52_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI0LTQtMS0xLTUxMDQ0Mg_11e0031b-9c27-4acf-a058-145404651457">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if63f21ad88f644d49f5c4688e9c3617a_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI0LTUtMS0xLTUxMDQ0Mg_e9ca871e-5e52-4542-bcab-1c84ed2382e0">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic794aafc4d484d06b3aa7ff3298bedc7_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI0LTYtMS0xLTUxMDQ0Mg_a60f8684-0506-4bca-a4bf-9183346ad628">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i88991eedff424f419622d70efe1fe525_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI0LTctMS0xLTUxMDQ0Mg_5f3f4df9-bbcf-4bd3-95c9-644954982661">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie8bd116c242c4342b0e9f4ee6481bb24_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI0LTgtMS0xLTUxMDQ0Mg_d79c5bab-e21f-4a8d-9cb5-ea48725851ed">1,962</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i7a23d0d8dc274c18bd1c8e9651774496_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI1LTItMS0xLTUxMDQ0Mg_c0e949fc-2464-4bc2-9140-46a34f43ca8c">1,165</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i887bc660d3cc4d7bbace6da6f7fcece4_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI1LTMtMS0xLTUxMDQ0Mg_ed15a248-d0af-4ede-a36f-f7f0abf01903">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i71ebad177b9948c88f09c46bca19424f_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI1LTQtMS0xLTUxMDQ0Mg_7230073a-124f-46ba-9ac4-c15dafec0669">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib9f4544ec25a4447ac1969e5607df35c_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI1LTYtMS0xLTUxMDQ0Mg_97ffdf11-de11-4ce0-9e2c-4988bb8fef06">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="if3f7c7045f9c4a87869c164ddaa64161_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI1LTctMS0xLTUxMDQ0Mg_cbd9856a-fb75-4a4a-93ab-093bb7d072f7">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i4fdd684db1c74a4a8a4ae879da6742ae_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI1LTgtMS0xLTUxMDQ0Mg_2b33fd7a-ba45-442e-bdb6-df3087567b3f">1,165</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i688085787d1d4d61959609e33e40ec68_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI2LTItMS0xLTUxMDQ0Mg_65b10e7e-4435-45f0-85b0-39735c7b783f">21</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i27051f91a95e465894e0369a38179a21_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI2LTYtMS0xLTUxMDQ0Mg_4824e70e-67aa-4a17-868b-c2e03c888bea">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i635367ec0d814dcb843bd7400c5acbd5_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI2LTgtMS0xLTUxMDQ0Mg_3f9d0b11-cf0c-4579-b547-a902df24fe68">21</ix:nonFraction>&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i8602f4e5f3794a27a31c1900f2748e6d_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI3LTItMS0xLTUxMDQ0Mg_c7e31cba-b1c8-4521-931a-b471d9b5acdd">18</ix:nonFraction>)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i11b65b7ee56d4633b5f184e6c963dde1_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI3LTMtMS0xLTUxMDQ0Mg_ad823680-7927-4659-be16-da52406f2b99">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic6817a542f1a4b12a4d38d50a5910466_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI3LTQtMS0xLTUxMDQ0Mg_b3b5cf15-84ab-46fb-89b6-09c6bfe7803e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2a0744155b164a86a799c1143aa1221e_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI3LTUtMS0xLTUxMDQ0Mg_ab7b79a2-ce93-45a0-ad7e-207b3b6c2f14">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id5cb21e589d5443f908c58f3aa7c16ba_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI3LTYtMS0xLTUxMDQ0Mg_f21e9605-17e1-48cf-baa6-5db94cb4d794">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2c524306ae004a9489261515d11abf0c_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI3LTctMS0xLTUxMDQ0Mg_1a6d9c8a-9d82-4e28-8e02-e601a806a7f9">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="i5dede1eaea96449eaca56aa8c55f682f_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI3LTgtMS0xLTUxMDQ0Mg_23852e93-a371-4654-8095-19576f2e42c7">18</ix:nonFraction>)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ie4bacd7c2a1d4ee4827ea8e366bcdff8_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI4LTItMS0xLTUxMDQ0Mg_23d56f3f-abcd-4c04-a185-73d1a4b73e72">8</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(<ix:nonFraction unitRef="eur" contextRef="if7410edae9814d2390291ebd91649622_I20221231" decimals="-6" sign="-" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI4LTMtMS0xLTUxMDQ0Mg_113e12cb-75fe-4909-8fdb-56b105bc1230">4</ix:nonFraction>)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="id3582faf2fb54ef5be1aac1a51bbf559_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI4LTQtMS0xLTUxMDQ0Mg_c146cd5f-df9c-42e5-9bb8-8eed531adb9d">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ib1a3566abb5445379b1ef874255df5c5_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI4LTUtMS0xLTUxMDQ0Mg_4c409971-2463-47df-ab2c-035db6659174">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44a0dd5415e940df901db91dd19defe2_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI4LTYtMS0xLTUxMDQ0Mg_5614ca09-a612-4dc7-988f-bc0710d94dd1">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="idad25550a58c47fe98601724fce71b48_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI4LTctMS0xLTUxMDQ0Mg_fb38f9bf-5572-421d-94e8-deb89628e484">&#8212;</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i659f7a420bb5492eb0da98fc44169927_I20221231" decimals="-6" name="ifrs-full:DerivativeFinancialAssetsHeldForHedging" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTpmOWNkZWI0MjM2ZGI0OWNkOWE3MTFiODRiNGVkM2FhZC90YWJsZXJhbmdlOmY5Y2RlYjQyMzZkYjQ5Y2Q5YTcxMWI4NGI0ZWQzYWFkXzI4LTgtMS0xLTUxMDQ0Mg_a3fd51a7-d294-4632-bb9d-e9b54d6e03ff">4</ix:nonFraction></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (<ix:nonFraction unitRef="gbpPerEUR" contextRef="i4f118fe1097d4bb79a51a4e2bde7f3b2_D20220101-20221231" decimals="2" name="ifrs-full:AverageForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyMzI_5905034a-40c7-43f2-8fc3-c81cbe24a5b2">0.87</ix:nonFraction>), EUR/USD (<ix:nonFraction unitRef="usdPerEUR" contextRef="i4f118fe1097d4bb79a51a4e2bde7f3b2_D20220101-20221231" decimals="2" name="ifrs-full:AverageForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyNDY_daa989c2-3e27-40fe-b366-5587afc48c84">1.03</ix:nonFraction>), USD/COP (<ix:nonFraction unitRef="copPerUSD" contextRef="i4f118fe1097d4bb79a51a4e2bde7f3b2_D20220101-20221231" decimals="2" name="ifrs-full:AverageForeignExchangeRate" format="ixt:num-dot-decimal" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyNjA_38acc496-9516-4795-9466-332f5fffa691">4,660.76</ix:nonFraction>) and EUR/BRL (<ix:nonFraction unitRef="brlPerEUR" contextRef="i4f118fe1097d4bb79a51a4e2bde7f3b2_D20220101-20221231" decimals="2" name="ifrs-full:AverageForeignExchangeRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyNzc_f26d970c-83e3-4256-8939-27799d596fe2">5.58</ix:nonFraction>).</span></div></ix:nonNumeric></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-190</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_385"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div style="margin-top:9pt;text-align:center"><span><br/></span></div><ix:continuation id="i8ff119e9de4e4a4ca637c5010bf5733a" continuedAt="idc1cf685314c4b3c9f5f0385409e0e07"><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix V: Interest-bearing debt</span></div><ix:continuation id="i6f65a2b24a404cfea552df3614746ec6" continuedAt="ib6c2581140fb469e844c19e45771da31"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:30.131%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td 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style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding principal balance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Descriptive name summary</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current limit (millions)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="if5464a3f107f40b2a7a7ce2e09f1fe8b_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzctMy0xLTEtNTEwNDQy_17138343-e172-4b1a-b9f4-d1d5eb7f3f0b">223</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifc615223be194fb6a1dfa09ee3a0e5d5_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzctNC0xLTEtNTEwNDQy_17240ae8-64ac-4dde-9b69-e514bf5ca596">288</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8b34fc461e945c3a41558175a95c73e_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzgtMS0xLTEtNTEwNDQy_4ec8392f-ccbb-4b3b-9371-49e122ce3468">161</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic8b34fc461e945c3a41558175a95c73e_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzgtMy0xLTEtNTEwNDQy_1c2951f8-d5ed-4301-b84c-7797ab68389e">161</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i86da7bfd38b343b8a4050507db99d838_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzgtNC0xLTEtNTEwNDQy_6ec29cb8-f3b5-4e56-a2cd-9b78f5c9126b">221</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated (1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia565ad3de2e743ba9b3bacacaa961823_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzktMS0xLTEtNTEwNDQy_25669980-5c35-48c6-b6e4-58a2b5d1736d">5,500</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia565ad3de2e743ba9b3bacacaa961823_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzktMy0xLTEtNTEwNDQy_0a6f1e3f-f26c-477b-874b-a6dbde216814">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i0e29e0b55ec3431cbb958da239ccf27a_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzktNC0xLTEtNTEwNDQy_811a726e-79a3-4cf4-ae99-816f0e5c694e">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzEwLTEtMS0xLTUxMDQ0Mg_81812449-5f66-47f8-9be3-4f3dc63780b8">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5fb2b4d717624c288bf9255927cb81c0_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzEwLTMtMS0xLTUxMDQ0Mg_0a240bb8-8e7b-440f-bbfa-bd62cb2ce1e0">150</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i617f387291c748929c7794336189b822_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" 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format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzExLTQtMS0xLTUxMDQ0Mg_e204795c-b391-4a17-a069-f23c28b4defa">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5407636ba590440ea0e2b6c9a0654fca_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE1LTMtMS0xLTUxMDQ0Mg_0abbcffe-1823-4bd8-82cf-20abf1aecec3">183</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ifdf2cdee120040ac85cc10258ba6a40c_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE1LTQtMS0xLTUxMDQ0Mg_e252b9df-ee94-4a2e-8528-3a5b2059a156">258</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2016</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE2LTEtMS0xLTUxMDQ0Mg_5a2c0d1a-d46f-41c5-8315-8db2d2ef83ed">750</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE2LTQtMS0xLTUxMDQ0Mg_f2a00bdd-9647-4650-a868-d72311de6269">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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contextRef="i90e9924a7ba4459496bd7a397011dbd9_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE3LTMtMS0xLTUxMDQ0Mg_17234f1e-29fb-4c02-b08d-09f6898902e9">300</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i1b41d5dc8c554dccaabefb0c53df3db6_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE3LTQtMS0xLTUxMDQ0Mg_7d2a48de-88b4-4f3d-b846-52911887f6fa">300</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/18/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/18/2029</span></td></tr><tr><td colspan="3" 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id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE4LTEtMS0xLTUxMDQ0Mg_59952a4e-4819-45cb-bebe-2ada8928f42c">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i22378e7e209f478ebe868123b80dd940_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE4LTMtMS0xLTUxMDQ0Mg_097426db-b76b-4eb9-8c2f-8f8341aae958">150</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ia6f87aa86aee4ca787c8a20c5f6483be_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzE4LTQtMS0xLTUxMDQ0Mg_27d205d7-c501-4375-b15c-444672df6611">150</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/14/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A. E.S.P.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan (2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i2cdaab47c4ca4a448113d33ca394473d_I20221231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzIwLTMtMS0xLTUxMDQ0Mg_4d759dc2-67f6-4444-904d-027f66b06c63">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i5486e8de89dd47ae9ac9f514086b4c06_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzIwLTQtMS0xLTUxMDQ0Mg_cb912dcc-f58c-4b36-b53e-7e0b7c9c5913">117</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i8879dbc401fc49bcad247e0a32f881d7_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzIyLTMtMS0xLTUxMDQ0Mg_5cd29c1a-e8d5-45ae-932a-2a5ec369a242">97</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44e718ec30f94bb2a4a3f975da0f27e0_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzIyLTQtMS0xLTUxMDQ0Mg_7ea10e45-09f4-47b5-8282-4b9caf9d56d5">111</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/06/2021</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/19/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44c19bd2fdbe45588c58d90b28f10535_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI0LTEtMS0xLTUxMDQ0Mg_e733b374-f521-42a9-96ca-3cf558a4f96c">300</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i44c19bd2fdbe45588c58d90b28f10535_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI0LTMtMS0xLTUxMDQ0Mg_00dc352c-7885-44c3-8d41-1aaafa4fbade">201</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i031925fa3de74433b19453d537fa0bf4_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI0LTQtMS0xLTUxMDQ0Mg_5a08d597-252e-4f05-b447-0b95930e295d">162</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9fd6b4ec96d74250ac57d7e0e48ab0ca_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI2LTEtMS0xLTUxMDQ0Mg_16cb5497-34e9-4e9d-b3d4-e6bccb488f79">360</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i9fd6b4ec96d74250ac57d7e0e48ab0ca_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI2LTMtMS0xLTUxMDQ0Mg_052971ee-e39f-4e3a-af7c-40848ade9185">245</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i81d9f7347a3044f6817da11087f21b30_I20211231" decimals="-6" name="ifrs-full:Borrowings" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI2LTQtMS0xLTUxMDQ0Mg_5c537f35-e4f5-4ecc-aa47-fd9cf10f2456">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3f1735d2ce094111ae8a4978e7ea7b19_I20221231" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:fixed-zero" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI3LTEtMS0xLTUxMDQ0Mg_573a8c70-80b3-4a04-9843-b39aab731e0b">&#8212;</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="i3f1735d2ce094111ae8a4978e7ea7b19_I20221231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI3LTMtMS0xLTUxMDQ0Mg_c68317ef-0c22-4156-91e2-375686f20979">133</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="eur" contextRef="ic22552fe924b44ba86da0a240e66a23a_I20211231" decimals="-6" name="ifrs-full:Borrowings" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90YWJsZTpmZTYxMmY2N2E0ODI0NTlhOTA5ZGEzNDIzMDUyNGRlYy90YWJsZXJhbmdlOmZlNjEyZjY3YTQ4MjQ1OWE5MDlkYTM0MjMwNTI0ZGVjXzI3LTQtMS0xLTUxMDQ0Mg_deedaea1-49af-49d8-ad38-e0137d8fe3bd">124</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/17/2020</span></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/29/2023</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for <ix:nonFraction unitRef="eur" contextRef="ie4adcc5f97064460ab2d53952fcd9511_I20220113" decimals="-6" name="ifrs-full:NotionalAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90ZXh0cmVnaW9uOjJlODIwZDA1YWFmODQxYzY5M2U5NGIyZTYzMTNhYWJlXzExNTQ0ODcyMDk0NzAw_9920c6a4-83f2-4e36-80c7-239a2c426579">5,500</ix:nonFraction> million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> On January 26, 2022 there was an early repayment for <ix:nonFraction unitRef="usd" contextRef="if5f5520ecf4245b58c63373630fc0e4f_I20220126" decimals="-6" name="tef:EarlyRepaymentofDebt" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODUvZnJhZzoyZTgyMGQwNWFhZjg0MWM2OTNlOTRiMmU2MzEzYWFiZS90ZXh0cmVnaW9uOjJlODIwZDA1YWFmODQxYzY5M2U5NGIyZTYzMTNhYWJlXzExNTQ0ODcyMDk0NzA3_868198d7-ac5d-46d3-8906-dc0b983b111e">132</ix:nonFraction> million dollars of the bilateral loan originally scheduled to mature in 2023.  </span></div></ix:continuation></ix:continuation><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"><ix:continuation id="ib6c2581140fb469e844c19e45771da31" continuedAt="i124f68bf3b7441eba37f8866bed16509"><ix:continuation id="idc1cf685314c4b3c9f5f0385409e0e07" continuedAt="i1cd5a0f55c674273aed92e5ba53d3687">(*)</ix:continuation></ix:continuation></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"><ix:continuation id="i124f68bf3b7441eba37f8866bed16509"><ix:continuation id="i1cd5a0f55c674273aed92e5ba53d3687"> Facility with amortization schedule, showing in the column "Current limit" the undrawn amount.</ix:continuation></ix:continuation> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-191</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_388"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfServiceConcessionArrangementsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0OTg5_8cce2551-7ae9-4624-ac8c-434d42db1bbe" continuedAt="ib49ff26c91b542d18c245cc6bc9b67ec" escape="true"><div style="margin-top:9pt"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix VI: Key regulatory issues and concessions and licenses held by the Telef&#243;nica Group </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulations </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a digital telecommunications operator, the Telef&#243;nica 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&#8217;s business areas. The extent to which telecommunications regulations apply to the Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to provide services and operate its networks and to use spectrum, the Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Electronic Communication Regulation in the European Union </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <ix:nonNumeric contextRef="i1ae8bf40c68346c8bc47bfd9ccbdd08a_D20181211-20181211" name="tef:ElectronicCommunicationRegulationPeriodToTranspose" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTM5_3a4c6dce-62df-4755-81f2-0689660233df">two years</ix:nonNumeric> (until December 21, 2020) to transpose it into their national legislation.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 at least <ix:nonNumeric contextRef="i1ae8bf40c68346c8bc47bfd9ccbdd08a_D20181211-20181211" name="tef:ElectronicCommunicationRegulationHarmonizationOfLicensesPeriod" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTU0_783a6dad-70cd-4abd-8ab7-513a0d34cf88">20</ix:nonNumeric> years.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Due to a delay in the transposition of the EECC, the European Commission announced the second stage of infringements proceedings, in the form of a reasoned opinion, against <ix:nonFraction unitRef="state" contextRef="i37dd5637b4ea41a0868b3a0c4917b66b_D20210921-20210921" decimals="INF" name="tef:EuropeanCommissionInfringementProceedingsNumberOfMemberStates" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTY4_ac7bd256-1e88-4d20-a75d-fa65017fdff5">18</ix:nonFraction> member states, including Spain, on  September 21, 2021. On June 28, 2022, the new General Telecommunications Law  11/2022 was finally published in the BOE by which the EECC is transposed into Spanish law. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Relevant Market Recommendation (RMR) adopted in December 2020, identifies the relevant markets within the electronic communication sector that are susceptible of ex ante regulation by the NRAs. The NRAs should assess the competitive conditions of these markets and where appropriate, designate operators as having significant market power (SMP) and impose obligations. The markets susceptible to ex ante regulation were reduced from <ix:nonFraction unitRef="market" contextRef="i49599211e4584056834ae20ef83784d4_I20201130" decimals="INF" name="tef:RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTcz_b8354934-1ca8-4044-9ff8-3e4bd6a181a9">4</ix:nonFraction> to <ix:nonFraction unitRef="market" contextRef="i860956404f59456bb4900546f88d8e31_I20201231" decimals="INF" name="tef:RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTc2_c0911426-4792-4289-84d1-d31b4dd617dc">2</ix:nonFraction>: wholesale local access provided at a fixed location market (m1) and wholesale dedicated capacity market (m2). Nevertheless, NRAs are still able to analyze any other market that according to national circumstances might deemed to be uncompetitive. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to the maximum cap at European level for both fixed and mobile termination rates (FTRs/MTRs), since the adoption of a Delegated Act, in April 2021 by the EC, the maximum rates applicable are those included in the correspondent glidepaths and aiming to reach <ix:nonFraction unitRef="eur" contextRef="idf60a283bc6e4b1787d59942e9fcb501_D20210401-20210430" decimals="2" name="tef:EuropeanCommissionDelegatedActMaximumMobileTerminationRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTgw_e443dc9a-6d48-4aaf-8cbe-da20eece5699">0.2</ix:nonFraction> euro cents per minute in mobile by 2024 and to <ix:nonFraction unitRef="eur" contextRef="idf60a283bc6e4b1787d59942e9fcb501_D20210401-20210430" decimals="2" name="tef:EuropeanCommissionDelegatedActMaximumFixedTerminationRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTg3_47ea14a3-4186-476c-a166-13a6e75b7890">0.07</ix:nonFraction> euro cents per minute in the case of fixed rates.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the European Council has approved the Recovery and Resilience Mechanism (RRM), with European funds of <ix:nonFraction unitRef="eur" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="-9" name="tef:EuropeanCouncilRecoveryAndResilienceMechanism" scale="9" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNTk0_574a7412-c1e7-4fa2-9f89-2ca47666afeb">750</ix:nonFraction> billion euros until 2025 as a central pillar of the European Digital Transformation (at least <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="tef:EuropeanCouncilRecoveryAndResilienceMechanismPercentageDevotedToDigitalization" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNjA5_c959a16c-2fa4-4fdf-8c0a-d54ae1409565">20</ix:nonFraction>% of funds devoted to digitalization) initiatives which can receive support to advance connectivity and the digitalization of society.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telecom Single Market   </span></div></ix:nonNumeric><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-192</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib49ff26c91b542d18c245cc6bc9b67ec" continuedAt="id7b425dd08174b6d86d042c8287ee083"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Roaming</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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 (&#8220;Roaming Like at Home&#8221;). Wholesale maximum rates for voice, data and SMS were also regulated. While current regulation expires on June 30, 2022, on April 13, 2022, the new Regulation on international roaming in the European Union was published in the Official Journal of the EU and being directly binding for Member States as it entered into force on July 1, 2022. From this date the new regulation includes a new glide path for maximum wholesale rates for voice, data and SMS that are not expected to distort the wholesale market. This reviewed regulation also includes new provisions on transparency and Quality of services that might have a moderate impact on implementation costs for roaming providers and network operators.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Net Neutrality</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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 devices 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.  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Body of European Regulators for Electronic Communications (BEREC) has updated the Guidelines on the Implementation of the Open Internet Regulation. Reviewed guidelines prohibit non application agnostic price differentiation, resulting in near prohibition of zero rating and sponsored data commercial practices. Telefonica does not expect a commercial impact in current portfolio of services.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, by April 30, 2023, the EC shall submit a report assessing the regulatory implementation of the OIR to the European Parliament and to the Council thereon, accompanied, if necessary, by appropriate proposals with a view to amending this Regulation</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">. </span></div><div style="margin-bottom:11pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Digital Single Market    </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Among the most relevant regulatory initiatives we can find the following:    </span></div><div style="margin-top:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Content Package:   </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On November 28, 2018, the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">audiovisual Directive (AVMS) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was published in the Official Journal of the European Union. The text came into force on December 19, and had to be transposed into national law in the EU member States by September 19, 2020. In Germany, the transposition of the AVMSD was specified in the Interstate Media Treaty, which entered into force on November 7, 2020. The United Kingdom adopted the AVMS Regulation on September 30, 2020, which was applicable until the formalization of the UK&#8217;s exit from the UE. And in Spain, the Draft General Law on Audiovisual Communication was adopted on November 30, 2021. 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.   </span></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.05pt">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Geo-Blocking Regulation </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. This Plan included a proposal for a dialogue between the European Commission and the audiovisual industry to facilitate access to and availability of audiovisual content across EU borders. Three meetings between the Commission and industry took place during 2021 while the last meeting took place in December 2022. Commissioner Breton might ask to engage further with industry to enhance cross-border access to and availability of audiovisual content across the EU.  </span></div></ix:continuation><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:40.5pt"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-193</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="id7b425dd08174b6d86d042c8287ee083" continuedAt="i17c11651743746bd81c78e2e5c69e7bc"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">European Commission will issue a </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recommendation on combating online piracy of live content in June 2023</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. In January the Commission launched a call for data inviting interested parties to submit comments based on their experience and will organize a workshop on February 28, 2023. Telef&#243;nica submitted comments to the consultation and will participate in the Workshop, insisting on the need for the European Commission to take specific action in relation to online piracy of live content, building on DSA and Copyright Directive as well as on European Parliament&#8217;s Resolution of May 2021 on challenges of sports events organizers in the digital environment.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Regulations on the Digital Services and the Digital Markets: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Digital Services Act 2022/2065 of October 19, 2022 and the Digital Markets Act 2022/1925 of September 14, 2022 were adopted and published in the Official Journal of the EU.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to the new </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Digital Services </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">regulation, obligations will apply throughout the EU to all digital services that connect consumers to goods, services or content, such as:</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Rules on the removal of illegal goods, services or content online.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Safeguards for users whose contents have been removed by error by the platforms.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Obligation for the platforms to adopt measures to avoid the abuse of their systems.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Transparency measures with a wide scope.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">New powers to control the operation of the platforms.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">New rules on the traceability of companies in online markets.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Cooperation process between authorities to ensure compliance and adoption of measures.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With respect to the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Digital Markets</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> regulation, whose main goal is preventing the so called &#8220;gatekeepers&#8221; from imposing unfair conditions on end users and at ensuring the openness of important digital services, its main provisions are:</span></div><div style="padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.3pt">It will only apply to the main platform providers more prone to incur in unfair practices and ensuring contestability in a set of core platform services.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">It establishes quantitative thresholds for the designation of "gate keepers".</span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">It requires "gate keepers" to take action in a proactive manner.</span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The regulation foresees mechanisms for the Commission to designate new "gate-keepers" below the thresholds; to add new services and obligations; and to impose structural or behavioral remedies for systematic non-compliance through a market investigation.</span></div><div style="padding-left:72pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:9.32pt">The EC can impose fines of up to <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="tef:RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNjE4_ee908089-4d6e-4e29-97da-3d4117ed594c">10</ix:nonFraction>% of the company's total worldwide annual turnover or <ix:nonFraction unitRef="number" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="2" name="tef:RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverRepeatOffense" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNjI4_1259d85d-1da6-49d2-ac2f-0f1e17c80b05">20</ix:nonFraction>% in the event of repeated infringements. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On  July 5, 2022 the text was finally endorsed by European Parliament and entered into force as of November 1, 2022 (following its publication in the Official Journal on October 12, 2022). After entering application on  May 2, 2023, the designation process might last until September and gatekeepers will have up to six months to comply with the requirements in the DMA, at the latest by March 6, 2024.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Data Protection  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation with Data Protection &amp; 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 <ix:nonFraction unitRef="number" contextRef="i1873e0ead17c4b769a9d7fefef1a8108_D20160427-20160427" decimals="INF" name="tef:RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulationForBreachofNewDataProtectionRules" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEyMTQw_65c8cd97-e2d7-4b8c-a3c9-2ad2c46715a5">4</ix:nonFraction>% of an undertaking&#8217;s annual global turnover of the preceding financial year for breaching the new data protection rules. Spain, Germany and the United Kingdom have adopted implementing measures of this Regulation.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <ix:nonFraction unitRef="number" contextRef="i0a62137b3f10482093fb7a21c2d76e98_D20170110-20170110" decimals="INF" name="tef:RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulation" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEyMzU2_07f1c7e6-d478-4415-b1cf-fdd23a1704de">4</ix:nonFraction>% of an undertaking&#8217;s annual global turnover of the </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-194</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i17c11651743746bd81c78e2e5c69e7bc" continuedAt="i5d7ef2e1e117453aa1ef301584e4a883"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">preceding financial year for breaching new regulation. The Regulation could be adopted in first half of 2023 under the Swedish Presidency.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, on December 13, 2022 European Commission issued a draft Adequacy Decision on a new EU/US Data Privacy Framework. Since European Court of Justice (ECJ) struck down the Privacy Shield framework in July 2020, EU and US have been working on a new framework for transatlantic data flows, especially after Joe Biden&#8217;s new Administration entered into office. In March 2022, President of the European Commission Ursula von de Leyen and US President Joe Biden announced an </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">agreement in principle</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for a renewed framework for transatlantic data flows &#8220;balancing security and the right to privacy and data protection&#8221;. This political announcement had to be translated into a legal text. For that, on October 7, 2022 President Biden signed an Executive Order addressing the main concerns raised by ECJ in its Judgement on Schrems II Case (namely, new safeguards to limit US LEAs&#8217; and Intelligence Agencies&#8217; powers to access personal data of EU citizens and new redress mechanism for non-US persons whose data has been accessed by US Authorities). Taking into account these concrete changes introduced by the Executive Order, European Commission published the draft Adequacy Decision. Commission expects to have the Adequacy Decision adopted by Summer 2023. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Radio spectrum policy </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 14, 2016, the European institutions reached an agreement on how to coordinate the use of the <ix:nonFraction unitRef="mhz_band" contextRef="i602df145607d4db18a284a4c07edfc27_D20161214-20161214" decimals="INF" name="tef:RegulatoryOperationsFrequencyofBand" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEzNzY3_050c6f0a-e947-4421-aefb-6cea12ba829a">700</ix:nonFraction> MHz band facilitating the introduction of 5G as of 2020. Duly justified exceptions on grounds defined in Decision 2017/899/CE were allowed until June 30, 2022. But, the assignment processes were finally completed during 2021, with Telef&#243;nica securing 2x10 MHz in each of our European markets&#8217; footprint (Germany, Spain and UK). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The European Electronic Communications Code grants the Radio Spectrum Committee (RSC) the powers to harmonize the use of spectrum bands for the provision of electronic communications services and lays down the rules governing the process through which Member States authorize those bands to specific users. It also mandates Member States to allow the use of sufficiently large blocks of the 3400-3800 MHz band, and at least 1 GHz in the 24,25-27,5 GHz band, in order to facilitate the roll-out of 5G.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assignment processes have been completed across our European footprint in the 3400-3800 MHz band, with Telef&#243;nica securing at least 70 MHz in each market (see table at the end for details).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the 24,25-27,5 GHz band, it is being assigned in Germany through local licences awarded on a first-come-first-served basis. In Spain, a competitive tender took place in December 2022 and Telef&#243;nica secured a national licence of 1 GHz. In the UK, Ofcom launched a public consultation in Q2 2022 on how to enable new uses, including 5G, in the 26 GHz band.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the harmonization and assignment of the priority bands for 5G (700 MHz, 3500 MHz and 26 GHz) has been nearly completed, the European institutions are beginning the process to identify new bands that in a 2025-2030 horizon may be available for the provision of wireless broadband services. Among the most relevant bands for Telef&#243;nica are the 470-694 MHz and the 6425-7125 MHz bands, that will be discussed at the ITU world conference in 2023, and the 3800-4200 MHz band, for which the RSC approved in December 2021 a mandate to the CEPT with a view to its harmonization for local low and mid-power networks. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EU competition law </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">European competition provisions have the force of law in Member States and, therefore, are applicable to our operations in those States. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Treaty on the Functioning of the European Union (TFEU) prohibits &#8220;concerted practices&#8221; 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. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are similar competition rules in the legislation of each Member State. Those responsible for ensuring compliance are the national competition authorities. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-195</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i5d7ef2e1e117453aa1ef301584e4a883" continuedAt="i505cdb0b64be425f8a151bffbcb1491e"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spain  </span></div><div style="margin-bottom:11pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">T</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">he legal framework for the regulation of the telecommunications sector in Spain is governed by the General Telecommunications Law (11/2022) of June 28, transposing the implementation of the "EECC" into national law.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions held by Telef&#243;nica in Spain are listed at the end of this Appendix VI under the title &#8220;Main concessions and licenses held by the Telef&#243;nica Group&#8221;.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Market analysis  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The obligations imposed by the national regulator in the most relevant markets in which Telef&#243;nica is deemed to have Significant Market Power (SMP) are detailed below.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The EU Commission&#8217;s delegated act on termination rates entered into force on July 1, 2021 and the approved charges have been amended accordingly:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed markets  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Wholesale fixed access and call origination market  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica has SMP, the CNMC imposed specific obligations to Telef&#243;nica regarding the provision of origination services, preselection and wholesale access service to the telephone line on a cost-oriented bases, and regarding the implementation of an accounting system. Telef&#243;nica was imposed, among others, the obligation of no discrimination, transparency and separation of accounts.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fixed call termination market on individual networks  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica de Espa&#241;a, are dominants in terminating fixed networks and, accordingly are obliged to provide call termination service at cost-orientation and non-discrimination  to the rest of operators, according to a purely incremental costs model.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Relevant developments were 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 from January 1, 2021 are 0.0545 euro cents per minute. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile market </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Mobile network call termination </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 2018, the CNMC adopted the final decision where all mobile operators were considered SMP for the call termination in their networks. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As established by the European Commission&#8217;s Delegated Act, from January 1, 2022 to December 31, 2022, tariffs amount to 0.55 euro cents per minute. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale (physical) to network infrastructure access and wholesale broadband access  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 18, 2017, the CNMC adopted a Resolution which approved the reference offer of the new wholesale unbundled virtual access service to Telef&#243;nica's new broadband Ethernet service (local NEBA). NEBA services allow alternative operators more flexibility to structure their retail offers over Telef&#243;nica's fiber network. In March 2018, the CNMC approved the methodology to be used to assess the maximum wholesale access price which Telef&#243;nica could charge to other operators for accessing the optical fiber network in regulated areas (NEBA Local and NEBA services), set at <ix:nonFraction unitRef="eur" contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231" decimals="2" name="tef:NewBroadbandEthernetServiceMonthlyRate" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzE1OTIz_5c3fb07e-13e7-4f0f-a527-53f2e4026e9b">16.68</ix:nonFraction> euros per month. This price is reviewed once a year in order to assess whether Telef&#243;nica's retail offers (broadband flagship products) are economically replicable with such price.  </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-196</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i505cdb0b64be425f8a151bffbcb1491e" continuedAt="i415b882d56db4b97adbaf3c3d6823d0a"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica&#8217;s flagship products was not replicable with existing wholesale access price, encouraging Telefonica to reduce that price in order to restore the economic replicability of all its retail flagship products. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The resolutions from March 2018, July 2018 and November 2020 have been appealed by Telef&#243;nica de Espa&#241;a.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2018, the CNMC approved the methodology to analyze whether Telef&#243;nica&#8217;s business offers can be replicated by other operators. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 7, 2021, CNMC has completed the the broadband market analysis (1/2020, 3b/2014 markets). The most remarkable aspects stated by CNMC are: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#50535a;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.18pt">To expand the competitive area in new generation networks, from <ix:nonFraction unitRef="municipality" contextRef="i68b14682fec5460baf95119b5ca5c015_I20211006" decimals="INF" name="tef:BroadbandMarketAnalysisNewGenerationNetworksNumberOfMunicipalities" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNjQx_7446f475-ff50-4dfe-8cf3-90620abdc28c">66</ix:nonFraction> to <ix:nonFraction unitRef="municipality" contextRef="i62942013edc94a6aa788f93aa24bf4c7_I20211007" decimals="INF" name="tef:BroadbandMarketAnalysisNewGenerationNetworksNumberOfMunicipalities" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNjQ0_cccd1ed1-9be6-4694-b82d-904b9c667403">696</ix:nonFraction> municipalities, which represent the <ix:nonFraction unitRef="number" contextRef="i62942013edc94a6aa788f93aa24bf4c7_I20211007" decimals="3" name="tef:BroadbandMarketAnalysisNewGenerationNetworksPercentageOfMunicipalitiesWhereSpanishPopulationLives" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzEwNDQ1MzYwNjUzNjQ2_257c2a62-c19a-45b4-9ac8-411efa85cd0c">70.5</ix:nonFraction>% where the Spanish population lives. In these areas the obligation to offer a wholesale broadband access service (NEBA) will not be imposed on Telef&#243;nica&#8217;s fiber network.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">In the remaining municipalities, CNMC requires Telef&#243;nica to provide other operators with a virtual disaggregated access service (local NEBA) and a wholesale broadband access service (NEBA) on its fiber network.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Throughout the whole territory, CNMC has decided to maintain the obligation by which Telef&#243;nica must provide wholesale access service to its civil infrastructure (ducts, conduits and poles</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Universal service obligations  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 6, 2023, the Minister for Economic Affairs and Digital Transformation issued the Ministerial Order designating Telef&#243;nica de Espa&#241;a, S.A.U. as the operator responsible for the provision of the services included in Article 37.1 of the General Telecommunications Law: adequate broadband internet access service at a fixed location with a minimum download speed of 10 Mbps as well as voice communications services at a fixed location. The territorial scope of the designation is the entire national territory and the designation is made for a period beginning at zero hours on February 10, 2023 and ending at zero hours on January 1, 2025</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spectrum </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 22, 2021, Telef&#243;nica Espa&#241;a acquired a 10 MHz block in the 3.4-3.8 GHz band for <ix:nonFraction unitRef="eur" contextRef="i1fdf81f6208a4e02864a75a664c5adcc_D20210222-20210222" decimals="-6" name="tef:RegulatoryOperationsSpectrumLicenseAcquisitionAmount" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzE4MDk1_c9c0af9b-254b-4313-9a7c-9c304741968c">21</ix:nonFraction> million euros. With this spectrum acquisition, Telef&#243;nica completes 100MHz which corresponds to the maximum carrier width in the 5G standard. 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, it is expected that the Ministry of Economic Affairs and Digital Transformation will adopt a resolution for the reorganization of the 3.4-3.8 GHz band, during March 2022. Following this resolution, operators will have 6 months to migrate their frequencies. Regarding the 700 MHz band, Telef&#243;nica Espa&#241;a acquired 2x10 MHz for <ix:nonFraction unitRef="eur" contextRef="i2c229398bcb14313afeef0dbb073ed6c_D20210701-20210731" decimals="-6" name="tef:RegulatoryOperationsSpectrumLicenseAcquisitionAmount" format="ixt:num-dot-decimal" scale="6" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzE4NzI4_a5d292be-289a-46a3-b243-b826b1e7feb3">310</ix:nonFraction>&#160;million euros in the spectrum auction which took place in July 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica 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) until 2030.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica was awarded with 5 blocks of 20 MHz for an amount of 20 million euros in the auction of the 26 GHz band that took place on the December 21, 2022 which is expected to be formalized in the first quarter of 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Contribution to RTVE funding  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2009, the Radio and Television Corporation Finance Law (Ley de Financiaci&#243;n de la Corporaci&#243;n de Radio y Television Espa&#241;ola) 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 <ix:nonFraction unitRef="number" contextRef="if0b8e2eb6fc44583a306c25ecc270b33_D20090801-20090831" decimals="3" name="tef:RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzE5NDI2_dcd80011-4a6b-4fcb-857f-9d58dad2ba92">0.9</ix:nonFraction>% 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) <ix:nonFraction unitRef="number" contextRef="if0b8e2eb6fc44583a306c25ecc270b33_D20090801-20090831" decimals="2" name="tef:RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompanies" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzE5NDMw_b884c786-c72a-4084-b6ba-71dddcaa7b81">3</ix:nonFraction>% on the gross revenue of the year for open concessionaire companies or TV services providers; and (b) <ix:nonFraction unitRef="number" contextRef="if0b8e2eb6fc44583a306c25ecc270b33_D20090801-20090831" decimals="3" name="tef:RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompaniestoProvidePayTVServices" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzE5NDM0_66fb3452-9f07-4b0b-9d65-8fa0de2861c8">1.5</ix:nonFraction>% on the gross revenue of the year for concessionaire companies to provide Pay TV services. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-197</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i415b882d56db4b97adbaf3c3d6823d0a" continuedAt="ifbb6bda21c6f4aa4960053154d5e7269"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contributions made to the funding of RTVE were appealed by Telef&#243;nica Espa&#241;a and Telef&#243;nica M&#243;viles Espa&#241;a. 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The draft Audiovisual Communications General Law includes a provision to withdraw the 0,9% of the invoiced operating income contribution to RTVE funding which would entry in force by January 1, 2023. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Distribuidora de Televisi&#243;n Digital, S.A. (DTS)  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Resolution of the CNMC of April 22, 2015 authorized the acquisition of the exclusive control of DTS (Distribuidor Oficial de Televisi&#243;n, S.A.) by Telef&#243;nica 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 Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica could sign is eliminated. In the TV channel commercialization area, the commitment prohibiting Telef&#243;nica 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. Telef&#243;nica has appealed the decision.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Germany  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The European Union legislative framework was implemented in Germany at the end of June 2004, by the approval of Telecommunications Act (Telekommunikationsgesetz). The Telecommunications Act has been repeatedly amended over the last years, most recently through the transposition of the European Code of Electronic Communications (EECC) into German law with effect from 1 December 2021. The national regulatory authority responsible for regulation of electronic communication networks and services is the Bundesnetzagentur, or BNetzA</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions held by Telef&#243;nica in Germany are listed at the end of this Appendix VI under the title &#8220;Main concessions and licenses held by the Telef&#243;nica Group&#8221;. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spectrum </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to provision of the 800 MHz, 1.8 GHz and 2.6 GHz spectrum expiring end of 2025, BNetzA published points of orientation for consultation by March 21, 2022. In conjunction with this, an initial demand survey was conducted to examine signs of a possible spectrum scarcity. The points of orientation essentially spoke only of an extension and/or an auction as the most probable provision mechanisms. The Telef&#243;nica Deutschland Group gave its opinion on the points of orientation by the prescribed deadline. After evaluating the comments submitted, BNetzA published a position paper at the end of September 2022 with an initial opinion on the next steps. BNetzA started from the assumption that there was an obvious spectrum scarcity, based on the results of the initial demand survey. This would be an argument in favor of awarding the spectrum in the form of an auction. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To ease the demand situation in the 800 MHz band, the position paper proposes a frequency swap to the same extent with the 900 MHz band. The result would be that the 800 MHz frequencies would run until the end of 2033 and the 900 MHz frequencies until the end of 2025. The frequencies at 900, 1,800 and 2,600 MHz would be auctioned off. The Telef&#243;nica Deutschland Group commented in due time and advocated again for an extension of the frequencies to be made available through at least 2033. BNetzA intends to make a decision about frequency provision in 2023. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-198</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ifbb6bda21c6f4aa4960053154d5e7269" continuedAt="icbde62a5958244c6a475d6dce287a7ed"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Regarding the coverage requirements resulting from the 2019 frequency auction, the Telef&#243;nica Deutschland Group notified the BNetzA at the beginning of January 2023 that it had fulfilled the obligations due at the end of 2022 to cover households and major routes, and to commission 1,000 5G base stations and base stations in 500 white spots, respectively, in line with the obligations.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the coverage requirements resulting from the 2019 frequency auction, the Telef&#243;nica Deutschland Group, the Deutsche Telekom Group and the Vodafone Group in July 2021 entered into a cooperation for the joint construction of additional radio towers and masts, as well as their technical support and use. The cooperation is designed to meet coverage obligations, especially for transport routes and in rural areas, where frequency holders are allowed to enter into cooperation agreements to fulfil these obligations. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2021, the Telef&#243;nica Deutschland Group concluded an agreement with the Deutsche Telekom Group on active shared network usage at &#8220;grey spots&#8221;, which are areas in which only one mobile network operator offers mobile network access to its customers. A similar agreement with the Vodafone Group has been concluded on 25 January 2022. In both cooperation agreements, live operations were launched in the third quarter of 2022 with reciprocal access to the first mobile network sites. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 21, 2021, the Telef&#243;nica Deutschland Group entered into a National Roaming Agreement (NRA) with the 1&amp;1 Group (formerly: 1&amp;1 Drillisch Group). With this NRA, the Telef&#243;nica Deutschland Group fulfilled one of the EU requirement imposed by the EU Commission arising from the merger of the Telef&#243;nica Deutschland Group and E-Plus in 2014. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Market reviews </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The EU Commission&#8217;s delegated act on termination rates entered into force on July 1, 2021 and the approved charges have been amended accordingly: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Mobile termination rates (MTR) </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A glide path applies for the MTR, according to which a charge of 0.70 euro cents per minute will apply from July 1, 2021, decreasing to 0.55 euro cents per minute from January 1, 2022, to 0.40 euro cents per minute from January 1, 2023 and to 0.20 euro cents per minute from January 1, 2024. These charges will apply to all German providers of these services. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fixed termination rates (FTR) </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FTRs have been subject to a charge of 0.07 euro cents per minute since July 1, 2021. These charges will apply to all German providers of these services. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BNetzA consultation and market studies on fiber optic infrastructures  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The BNetzA has identified the existence of significant Germany-wide market power of Telekom Deutschland GmbH on wholesale market 3a (= market for wholesale access provided locally at a fixed location) and still deems it to be in need of regulation. This applies to both the copper network of Telekom Deutschland GmbH and the newly constructed fibre-optic network for the implementation of FTTH. On July 21, 2022, after prior notification to the EU Commission, the BNetzA issued the framework conditions under which charges and other access conditions will be controlled by the BNetzA in future. This relates both to access to the local loop in the copper network, the &#8220;last mile&#8221;, and also to virtual unbundled local access (VULA) to the copper and fibre connections of Telekom Deutschland GmbH. In essence, the BNetzA is maintaining its first draft of October 2021.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 26, 2022, the BNetzA published a draft decision for wholesale market 3b (= market for wholesale mass market products provided centrally at a fixed location). The draft also stipulates that the copper and fibre-optic infrastructure of Telekom Deutschland GmbH must be regulated, but that in future regulatory obligations will only apply to municipalities with a population of less than 60,000. The regulatory obligations will be lifted in larger municipalities. Otherwise, the remaining regulatory obligations are closely aligned with the requirements for local access to VULA in accordance with the regulatory order on wholesale market 3a</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The BNetzA is maintaining its flexible approach to access to fibre-optic networks. On the one hand, Telekom Deutschland GmbH will be required to grant wholesale customers equivalent access to the FTTH network. However, price regulation measures will not be evaluated in advance. Instead, they will only be considered if there are indications that the conditions of competition for wholesale customers will be impaired. The BNetzA does not consider this to be the case at present.</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-199</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="icbde62a5958244c6a475d6dce287a7ed" continuedAt="i2e1872b44ae846dc8113b435407306af"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">United Kingdom  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General legislative framework  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The EU Regulatory Framework was implemented in the United Kingdom by the Communications Act in 2003. The Office of Communications, or Ofcom, is designated as the NRA responsible for the regulation of electronic communications networks and services. Under the terms of the Withdrawal Agreement, the UK implemented the 2020 Electronic Communications and Wireless Telegraphy Regulation (Amendment) (European Electronic Communications Code and EU Exit) which made amendments to the Communications Act, with effect from December 21, 2020, in order to transpose the EECC into UK law.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions held by Telef&#243;nica in the United Kingdom are listed at the end of this Appendix VI under the title &#8220;Main concessions and licenses held by the Telef&#243;nica Group&#8221;. These licenses are part now of the joint venture with Liberty Global plc (VMED O2 UK Limited) (see Note 2).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale price regulation  </span></div><div style="margin-top:9pt"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Mobile termination rates (MTR)</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following a market review, mobile termination rates for all mobile providers, including the four national mobile communications operators are subject to controls based on the pure long-run incremental cost approach ("pure LRIC"). In its 2021-2026 price control decisions, Ofcom set a charge control, with the prevailing rate as of April 1, 2022 set at 0.391ppm. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, termination rates for calls originating outside the UK to be no more than the reciprocal termination rate charged by the relevant international telecoms provider for a call originating in the UK, or the MCT provider&#8217;s domestic rate, whichever is the higher. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">MTR caps will be updated annually on April 1, based on inflation (CPI measured for 12 months at December 31, each year) plus X, with X specified as +2.1% (2023); +2.4% (2024) and +1.5% (2025). </span></div><div style="margin-top:9pt"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fixed termination rates (FTR)  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the same decision, Ofcom decided to rise by 6.1% to 0.0292 ppm from April 2021. Annual indexation to CPI will apply, but with no &#8220;X&#8221; adjustment based on the same time period for CPI. VMO2&#8217;s current FTR is 0.031ppm from April 1, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spectrum  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following an agreement between the Government and industry to provide for a &#8220;Shared Rural Network&#8221;, the mobile operators, including Telefonica United Kingdom, agreed to amend their 900 and 1800 MHz licences to provide for 88% geographic coverage by 2024 and 90% geographic coverage by 2026.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ofcom is currently consulting on a future award of 26GHz and 40GHz mmwave spectrum. This process is currently scheduled to take place in 2024.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Brazil  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General legislative framework </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">T</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">he delivery of telecommunications services in Brazil is subject to regulation under the regulatory framework provided in the General Telecommunications Law enacted in July 1997. The National Agency for Telecommunications (Ag&#234;ncia Nacional de Telecomunica&#231;&#245;es or ANATEL), is the principal regulatory authority for the Brazilian telecommunications sector. On October 4, 2019, Law 13.879/2019 was published, introducing significant changes to the telecommunications framework.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Brazilian competition regulation is based on Law No. 12529 of November 30, 2011. The Administrative Council for Economic Defense, or CADE, is the agency in charge of enforcing the competition rules. The antitrust law establishes a pre-merger notification regime for concentration transactions, with turnover thresholds (one participant with gross revenue of 750 million Brazilian reals in Brazil and other participant with gross revenue of 75 million Brazilian reals in Brazil) and maximum time length for merger review procedure (240 days, extendable to 330 days).On October 18, 2016, CADE issued the Resolution No 17, which changed the rules concerning the </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-200</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i2e1872b44ae846dc8113b435407306af" continuedAt="i0128c967aa554600957b3b8d28fe6fd7"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">mandatory notification of the so called &#8216;associative agreements&#8217;. The new regulation tends to reduce notifications of associative agreements that do not raise antitrust concerns. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions of spectrum held by Telef&#243;nica in Brazil are listed at the end of this Appendix VI.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the state of S&#227;o Paulo, Telef&#243;nica Brasil provides fixed telephony services (STFC) under the so-called public regime, through a concession agreement which is expected to remain in force until December 31, 2025. On October 4, 2019, Law 13.879/2019 (resulting from PLC 79/2016) was published. This Law introduces changes to the telecommunications regulatory framework by allowing fixed-line concessions operators to migrate from a concession regime for limited time (in which the underlying assets reverts to the government at the end of the concession) to an authorization regime. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 5, 2022, and according to the Law, ANATEL presented a methodology with an estimation of the economic value associated with the migration of the concession regime to authorization, to be validated by the Federal Court of Accounts. After the vote of the rapporteur minister supporting the legality of the methodology presented by ANATEL, it is under analysis by another minister, and should resume to the court's agenda in March. After the final decision by the Federal Court of Accounts about de methodology applied, ANATEL will indicate the final amount for  migrating  the concession instrument for authorization. This final amount, after confirmation and acceptance by Telef&#243;nica, will be converted into investment projects not yet defined by ANATEL. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 4, 2021, the Ministry of Telecommunications and ANATEL approved the Resolution No. 744, which adopts the Regulation for the Continuity of the Provision of Fixed Commuted Telephony Service for Use by the General Public ("STFC") under the Public Regime - RCON. This Regulation established that at the end of Telef&#243;nica Brazil&#8217;s STFC concession, the assets belonging to its patrimony (which are used for the provision of multiple services including the STFC under the public regime) will be subject to a contract between the company and the new concessionaire or the Federal Government, to transfer their right of use under fair and reasonable economic conditions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the assets that are indispensable and exclusively used to ensure the continuity of the provision of STFC under the public regime, will have their possession reverted to the Federal Government through compensation and under the terms of the RCON. It should be noted that these assets constitute residual and decreasing assets of the company's assets</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this way, the Concessionaire's assets, at the end of the concession contract on December 31, 2025, will not be susceptible to the reversal of its ownership to the Union. The assignment of the use of shared assets and the possession of exclusive assets of the STFC is now defined by means of specific contracts already provided for in the operational manual of the RCON, approved by Decision No. 269/2021/COUN/SCO. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the adoption of Resolution No. 744, the obligation to submit a list of reversible assets ("RBR") to ANATEL is merely informative with the objective of maintaining transparency of the assets used by the Concessionaire in the provision of STFC under the public regime.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nevertheless, it is important to emphasize that in the scope of administrative proceeding TC n&#186;. 003.342/2022-0, in progress at the Federal Court of Accounts, a technical report stated that the RCON should be reviewed, such understanding shall still be submitted to the court&#8217;s ruling.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the other Brazilian states, Telef&#244;nica Brasil provides local, international and long-distance STFC, personal mobile service (SMP) and broadband multimedia communication services (which include the provision of fixed broadband connection) and pay TV services, all under the private regime. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 17, 2020, the Decree that regulates Law 13,879/2019 was published. The Decree 10,402/2020 allows the renewal of existing licenses. Previously, only a single license renewal was allowed for the same period. Currently, the successive renewals will be made in a competitive process at market price. The renewal amount can be converted, totally or partially, into investment commitments. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the extension of the 850 MHz band authorizations, if the legal and regulatory requirements are met, ANATEL agreed to extend the current authorizations for the use of radio frequencies in Bands A and B, proposing their approval, on a primary basis, until November 29, 2028. However, specific conditions for renewal, including those related to the economic valuation criteria and obligations, were challenged by the affected service providers (including Telef&#243;nica). </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-201</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i0128c967aa554600957b3b8d28fe6fd7" continuedAt="ie0cc8a5db4db4472bf20799178a54740"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After ANATEL dismissed the appeals filed by the providers, ANATEL referred the case to the federal court of accounts of Brazil (&#8220;TCU&#8221;), and in September 2022, TCU decided that the possibility of successive extensions brought by Law 13.879/19 should be considered as an exception, applicable only when certain requirements are met (art. 167 of Law 13.879/19 and article 12 of decree 10.402/20). Telef&#243;nica appealed that decision, defending the successive extension of licenses as a rule and not as an exception, in accordance to Law 13.879/19.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on December 8, 2022, ANATEL revoked Telef&#243;nica&#180;s 450 MHz spectrum authorization (451 - 458 MHz and 461 - 468 MHz) covering the states of Alagoas, Cear&#225;, Minas Gerais, Para&#237;ba, Pernambuco Piau&#237;, Rio Grande do Norte, Sergipe and part of S&#227;o Paulo. The decision was motivated by the fact that Telef&#243;nica could not provide evidence of service activation in the 450 MHz band as a result of the unavailability of  450 MHz devices ecosystem and of the waiver clause contained in the tender notice, interpreted by ANATEL as meaning that the waiver would operate automatically in case of non-activation of the frequency within the contractual term. Previously, on September 2022, ANATEL revoked authorizations held by other providers. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2021, ANATEL held the greatest spectrum auction in its history, with 700 MHz, 2.3 GHz, 3.5 GHz and 26 GHz lots. On that occasion, Telef&#243;nica acquired 3.5 GHz and 26 GHz national licenses (100 MHz and 600 MHz bandwidths, respectively). The Company also won regional 2.3 GHz licenses, with 50 MHz bandwidth in Southeast Region (except Sao Paulo state and PGO Sector 3) and 40 MHz bandwidth in Sao Paulo state, North and Midwest Regions (except PGO Sectors 22 and 25). These licenses guarantee the necessary spectrum to provide 5G services and are valid for 20 years, renewable under existing legal conditions at the end of this time.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection, tariffs and prices  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection among public networks is mandatory in Brazil. Generally, parties can freely negotiate the terms and conditions about technical points, economic discounts and rights/obligations, of the interconnection agreements. Interconnection rates for fixed network operators identified as operators with significant market power (SMP) (Resolution No. 588/2012) are defined by ANATEL; the interconnection rates for the use of mobile operators networks (Resolution No. 438/2006), may be agreed between the parties. However, if the parties fail to reach a consensus, particularly regarding charges to fixed operators (Resolution No. 576/2011), ANATEL imposes the rates to be used. The mobile termination market is based on the model of incremental costs and, pursuant to applicable laws, variations in VU-M must be reflected in VC1 (retail price paid by users for local fixed-mobile calls). Regarding VC2 and VC3 (retail price paid by users for national long distance fixed-mobile calls), variations in VU-M no longer need to impact these values, as is still the case of VC1. In March 2020, ANATEL approved Resolution No. 724, which established the Standard for the implementation and monitoring of tariff freedom in the Fixed Telephone Service (STFC) for use by the general public, in the National Long-Distance mode. Since then, the company has been free to determine domestic long-distance fees according to the market. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group, including VIVO, has been identified as an operator with SMP in the following markets: (i) fixed network infrastructure access for data transmission in copper pairs or coaxial cables at speeds up to <ix:nonFraction unitRef="megabyte_per_second" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsSpeedofNetworkInfrastructureAccessforDataTransmissioninCopperPairsorCoaxialCables" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzM1NjQ5_f66d5b50-f5e8-433b-a0f5-c9f5e32cfbfa">12</ix:nonFraction> MBps in the region of S&#227;o Paulo; (ii) wholesale fixed network infrastructure to transport local and long distance transmission at speeds up to <ix:nonFraction unitRef="megabyte_per_second" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsSpeedofWholesaleFixedNetworkInfrastructuretoTransportLocalandLongDistancesTransmission" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzM1NjUz_d767cb9d-491a-4499-8678-3d053a411105">34</ix:nonFraction> MBps in the region of S&#227;o Paulo; (iii) passive ducts and trenches infrastructure throughout Brazil; (iv) call termination on mobile network in Brazil; (v) national roaming market throughout Brazil.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ANATEL's Resolution no. 694/2018 in July 2018 changed the PGMC, which, besides others changes, recognized a new relevant wholesale market of high capacity data transport services with speeds higher than 34 Mbps, in which Telef&#243;nica is established as SMP throughout Brazil.</span><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, operators without SMP are no longer entitled to charge fixed termination fees up to 20% higher than the highest fee adopted by fixed operators with SMP in the same region, since the publication of the Resolution no. 694/2018 in July 2018.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, ANATEL&#8217;s Resolution No. 694 of July 17, 2018, changed article 41 of the Appendix II of the General Plan of Competition Goals (PGMC), and established the Bill and Keep between SMP and the non-SMP operators as 50/50%, from February 24, 2018 for the next 4 years, when this might be revised by ANATEL. Accordingly, the VU-M values (in Brazilian reals) for 2022 applicable to Telef&#243;nica Brazil are the following: (i) Region I: 0,01422; (ii) Region 2: 0,01550; and (iii) Region 3: 0,02947, nevertheless Telef&#243;nica can reach an agreement for higher values. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulation on Universal Service </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Currently, only Fixed Switched Telephony Services are subject to universalization obligations. These obligations are established in the General Plan of Universalization Targets (PGMU) and can be reviewed every five years. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-202</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie0cc8a5db4db4472bf20799178a54740" continuedAt="i6aecc2cdaa21474cb192211855d2dc16"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mexico  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Mexico, the provision of telecommunication services is governed by the Constitution and the Federal Telecommunication and Broadcasting Law (LFTy R), published on July 14, 2014. The Federal Law of Economic Competition published on May 23, 2014, its regulations and the Regulatory Provisions of the Federal Law of Economic Competition for telecommunications and broadcasting published by the Federal Telecommunications Institute on January 12, 2015.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Federal Telecommunications Institute (IFT) is the authority responsible for the regulation, promotion and supervision of the use, development and exploitation of radio spectrum, networks and the provision of broadcasting services and telecommunications, as well as the antitrust authority for broadcasting and telecommunications sectors. Furthermore, on August 26, 2015, a special division on Telecommunications affairs was established by the Consumers Affair Authority to monitor, coordinate, control, substantiate and resolve conciliation, arbitration and infringements, review, modification and grant the use of adhesion contracts in terms of Federal Consumer Act.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The IFT, as the Mexican national authority in communications and broadcasting sectors, declared in 2014 the Am&#233;rica M&#243;vil Group a preponderant operator in the telecommunications market, imposing specific measures with asymmetric obligations to avoid damaging competition and free market participation. Within these measures are the imposition of a regulated framework interconnection agreement and a set of reference offers for: leasing of dedicated links, access and shared use of passive infrastructure in fixed and mobile networks, MVNOs, roaming and local loop unbundling. In this sense, on November 17, 2016, Telef&#243;nica M&#233;xico and Am&#233;rica M&#243;vil Group signed an agreement in order for Am&#233;rica M&#243;vil to provide the wholesale service of national roaming in the areas where Telef&#243;nica M&#233;xico might have an interest. Telef&#243;nica Mexico and Telcel engaged in successive extensions of this agreement and on June 1, 2018 entered into Telcel's current Reference Offer as well as and an amendment agreement whereby the Offer, the original agreement and the Pricing and Tariff Annex were replaced entirety, which is in force due to the successive agreements reached to date.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 16, 2021, the decree that reforms the Federal Telecommunications and Broadcasting Law was published in Diario Oficial de la Federacion creating the National Register of Mobile Telephony Users (PANAUT), which sought to integrate a database with information on the natural person or legal entity who are holders of mobile lines; including biometric data in order to prevent and attack the crime of extortion.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 26, 2022 the Supreme Court of Justice of the Nation declared the total invalidity of the regulatory system that integrates the decree mentioned in the previous paragraph (and therefore the PANAUT), as a result of several unconstitutional actions filed by both the INAI (National Institute of Transparency, Access to Information and Protection of Personal Data) and a group of senators.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pegaso PCS, S.A. de C.V. (Pegaso PCS) has multiple concessions and licenses for installation and operation of a Public Telecommunications Network to provide telecommunications services and use spectrum for the provision of mobile wireless service nationwide.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica M&#233;xico accepted the terms and conditions established by the IFT for the renewal of the 1900 MHz licenses nationwide, which expired in 2018. Notwithstanding the foregoing, on November 21, 2019, Pegaso PCS, S.A. de C.V. notified IFT of the waiver of the totality of its spectrum licenses in four different stages. On December 31, 2020 IFT was informed that the concessions for the 850 and 1900 MHz bands for regions 1, 3 and 4 were returned. Similarly, on December 31, 2021, the IFT was notified the same about the 1900 MHz concessions for regions 5, 6 and 9. Finally on June 30, 2022 the IFT was notified of the return of the remaining spectrum in the 850 and 1900 MHz bands for regions 2, 7 and 8. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tariffs charged to customers are not regulated. They are set by companies and must be registered with the IFT, in order to be enforced. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On November 17, 2020, the IFT published the mobile termination rates (MTRs) applicable to solve any conflicts regarding MTR during 2021, 2022 and 2023. For 2021 MTRs were set, for the Preponderant Economic Agent </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-203</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i6aecc2cdaa21474cb192211855d2dc16" continuedAt="ibd3554113f154e92aeca093d4ce5ca7b"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(Radiom&#243;vil Dipsa, S.A. de CV- Telcel-) at 0.018489 pesos per minute, while for the non-preponderant ones they were set at 0.073714 pesos per minute. These rates were calculated using was an LRIC cost model used in the past with new criteria and variables. Since 2018, Telef&#243;nica has been challenging the interconnection rate resolutions issued by the IFT based on the inoperability of the cost model authorized by the IFT; notwithstanding this, to date the established rates have been applied. At the end of 2022, the SCJN has not yet resolved the lawsuits filed by Telef&#243;nica M&#233;xico and other concessionaires during the years 2018 to 2022.   </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Foreign ownership/restrictions on transfer of ownership  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since the amendments to the Constitution published in June 2013 foreign investment (FDI) up to <ix:nonFraction unitRef="number" contextRef="i18491af7476a4712aaf8d740f4463a06_D20130701-20130731" decimals="2" name="tef:RegulatoryOperationsPercentageofForeignDirectInvestmentAllowed" format="ixt-sec:numwordsen" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzQxMzA2_b02d9a81-958c-442d-b03a-cdf57842ae0d">one hundred</ix:nonFraction> percent in telecommunications is allowed. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Chile    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The General Telecommunications Law No. 18168 of 1982, as amended, establishes the legal framework for the provision of telecommunications services in Chile. The main regulatory authority in Chile is SUBTEL (the Under-Secretary of Telecommunications). On February 13, 2014, the Regulation on Telecommunications Services was published and came into force on June 14, 2014, regulating a number of new services as Internet, Pay TV, etc.  </span><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2014, law No. 20750 allowing the introduction of Digital Terrestrial Television was published in the Official Journal. It set an extensible deadline of five years for the blackout analog. It also set forth that the concessions of free-to-air broadcasting could be nationwide, regional, local and with European coverage.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The principal regulation concerning competition in Chile is Decree No. 211 of 1973, whose current text was established in Law Decree No. 1 of 2005 (Ministerio of Econom&#237;a, Fomento y Reconstrucci&#243;n). The Competition Court deals with infringements of competition law. Law N&#186;. 20.945 was published on August 30, 2016 increasing the administrative fines up to <ix:nonFraction unitRef="number" contextRef="ibc53f7116a764aef88087061479ea1c1_D20160830-20160830" decimals="2" name="tef:RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzQyNDU0_3bd29e09-313f-4ebf-a6c7-e25ca29b50cb"><ix:nonFraction unitRef="number" contextRef="ibc53f7116a764aef88087061479ea1c1_D20160830-20160830" decimals="INF" name="tef:RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0OTEz_ad766240-63dd-45a6-8046-4f40e9403013">30</ix:nonFraction></ix:nonFraction>% of the sales relating to the product line or services associated with the infringement during the period in which the alleged infringement took place, or up to the double of the economic profit reached by the infringement.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Other relevant laws that have an impact on the operation are Law No. 20,808, published in the Official Gazette on January 28, 2015, which protects the free choice of users in cable, Internet or telephony services, Law No. 21,046 that establishes the obligation of a guaranteed minimum speed of Internet access, published in the Official Gazette of November 25, 2017 and Law No. 21,245, published in the Official Gazette on July 15, 2020 that establishes the obligation to provide the Automatic National Roaming service in certain areas and Law No. 19.496 concerning consumer data protection.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions to use spectrum are shown in the table at the end of this Annex.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica Chile has been granted licenses of public local phone services, Voice Over Internet Protocol services, concessions of long distance and concessions to install and exploit the national fiber optic network and mobile satellite. 2.6 GHz and 700 MHz concessions established an obligation for Telef&#243;nica M&#243;viles Chile to provide a wholesale service to MVNOs, under a non-discriminatory and complete Reference Offer (including prices). This same obligation extends to the new 5G technology recently deployed in its first phase.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 5, 2019, the TDLC notified resolution 59 through which it modified the 60 MHz spectrum cap, establishing percentage caps by macrobands. Against this resolution, claims were filed by some operators and Conadecus, which were partially accepted by the Supreme Court on July 13, 2020, in the sense of: i) maintaining the percentage caps set by the TDLC, with the exception of the low macroband (up to 1 GHz) which went from 32% to 30%, and ii) establishing certain complementary measures to the Mobile Network Operators such as, national mandatory and temporary roaming; or keeping an offer of facilities and resale plans for MVNOs permanently available and updated, among others.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 16, 2021, the auction for the 3.5GHz band, initiated in 2020, was completed and Telef&#243;nica M&#243;viles Chile has been awarded 50MHz. On October 2, 2021, the decree granting the concession to Telef&#243;nica M&#243;viles Chile in the 3.35-3.40 GHz band was published in the Chilean Official Gazette. From that date, the terms conferred started as follows: (i) 30-year period of the concession and (ii) implementation of the terms for the start of service of the 5G project (12 months for stage 1 and 24 months for stage 2). Telef&#243;nica M&#243;viles Chile completed the deployment of all base stations corresponding to phase 1 of the 5G project</span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-204</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ibd3554113f154e92aeca093d4ce5ca7b" continuedAt="i294356ac7d454355a383ac75ca7c6ec8"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Public telecommunication services prices and prices for intermediate telecommunication services are freely established by operators, unless there is an express resolution by Chile's Competition Court on existing conditions in the market confirming that there is not enough competition. Additionally, maximum prices for interconnection services (access charges for network use, mainly) are subject to tariff regulation for all operators, being set by stipulated procedures.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Ministries set maximum tariffs under efficient operator model basis.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Maximum interconnection tariffs for telephony services are set every five years jointly by the Ministry of Transport and Telecommunications and the Ministry of Economy. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection is obligatory for all license holders with the same type of public telecommunications services and between telephony public services and intermediate services that provide international long distance services. Every <ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:RegulatoryOperationsPeriodofApplicableTariffsforServicesProvided" format="ixt-sec:durwordsen" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzQ0OTgx_e9eedce3-4339-4f67-b344-809963241bce">five years</ix:nonNumeric>, SUBTEL sets the applicable tariffs for services provided through the interconnected networks. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 9, 2019, a new Tariff Decree regarding fixed termination rate was adopted for the 2019-2024 period. The new tariff decree for the period 2019-2024, entered into force retroactively in May 2019 and represents a 65% drop from the previous value to reach a value of 1.3 CLP per minute during normal business hours. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding mobile termination rates, in 2019 a new decree was issued, which will be applicable for the next 5 years, The average tariff which will apply until 2024 was 1.8 CLP per minute (0.0024 euros, without VAT, based on the exchange rate as of February 6, 2019, to be charged on a per second basis). The validity of the new tariff decree starts on January 26, 2019.  In January 2024, the current decree on interconnection tariffs for mobile services will expire, while in May of the same year the current decree on interconnection tariffs for fixed services will expire.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Argentina  </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The basic legal framework for the provision of telecommunications services in Argentina is set forth in the Law &#8220;Argentina Digital&#8221; No. 27078 issued on January 7, 2015. This legal framework declared of public interest the development and regulation of information technology, communications and its associated resources (ICT's). Thus, this law became the specific regulatory regime for the free market, including rules on interconnection, universal service and radio spectrum, and setting out the principles of network neutrality and giving to the technological, informational and communicational companies the possibility of providing broadcasting services (except satellite infrastructure), and setting a single license system. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the Government approved the Decree No. 267/2015, published in the Official Gazette on January 4, 2016, which amended the Argentina Digital Act creating the National Communication Agency (ENACOM), which is the continuation of the Federal Authority for ICTs (Autoridad Federal de Tecnolog&#237;as de la Informaci&#243;n y las Comunicaciones). </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By the Decree of Need and Urgency No. 690/2020, it was resolved to amend Law 27078, establishing that Information and Communication Technology Services and Access to telecommunications networks for and among licensees are essential and strategic public services. At the same time, it determined that the prices of ICT essential and strategic public services will be regulated by the authority. Finally, it incorporated mobile communication services as public services. In connection with DNU 690/2020, Telef&#243;nica de Argentina, S.A. and Telef&#243;nica M&#243;viles Argentina, S.A. (collectively, &#8220;Telef&#243;nica&#8221;) were forced to file a lawsuit against the Argentine State, in connection with a series of contracts for licenses to provide services and spectrum use authorizations entered into between Telef&#243;nica and the Argentine State, including the licenses resulting from the 2014 spectrum auction. Such contracts and their regulatory framework provided that the services provided by Telef&#243;nica were private and prices would be freely set by Telef&#243;nica. The lawsuit filed was dismissed in September 2021 and Telef&#243;nica appealed this decision. On December 17, 2021, the first instance ruling was overturned and the scope of articles 1, 2, 3, 5 and 6 of DNU 690/2020 and the resolutions of the National Telecommunications Agency that sought to control tariffs (Resolutions 1666/2020 and 204/2021) and provide for a Mandatory Universal Basic Provision (Resolution 1467/2020) were suspended for six months or until a final ruling is issued. During this period, Telef&#243;nica will not be subject to the provisions considered in the DNU 690/2020 in relation to price and public service regulations. On June 10, 2022, the Federal Contentious Administrative Court No. 5 extended by six months the precautionary suspension of the </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-205</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i294356ac7d454355a383ac75ca7c6ec8" continuedAt="ib777a6d93af942bfa4fa1b0a7515c3dc"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">effects of the DNU 690/2020 in favor of Telef&#243;nica. On December 27, 2022, the Federal Contentious Administrative Court No. 5 extended for an additional six months the precautionary suspension of the effects of the DNU 690/2020 in  favor of Telef&#243;nica. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, &#8220;Law on Defense of Competition&#8221; No. 27442 prohibits any acts or behaviors contrary to such law and establishes an authority of competition that is pending to be constituted In the meantime, the Secretary of Commerce continues to act, assisted by the National Commission for the Defense of Competition created by Law No. 22262. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions to use spectrum are shown in the table at the end of this Annex. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica de Argentina has licenses for an indefinite period of time for the provision of communications services; local telephone services; long-distance national and international, telex, international communication and data transfer services; national and international value-added services, and other telecommunication services provided by the different license agreements entered into with the National State, and administrative acts entered into with the National State. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Roaming</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By means of Law 27.497 (BO 10/01/2019) the Economic Complementation Agreement No.35 between the States part of Mercosur and the Republic of Chile was approved, which includes the Commercial Agreement between the Republic of Chile and the Republic of Argentina by which these countries are obligated to implement the international roaming services in the territory of the other party with the same tariffs or prices they charge for the mobile services in their own country. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, by means of Resolution ENACOM 927/2020, the International Roaming Regime between the Republic of Argentina and the Republic of Chile was approved, establishing as from August 29, 2020, the price for international roaming service between the two countries as a local servic</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">e</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since the amendment of the Argentine Digital Act by Decree of Need and Urgency No. 690/2020, the licensees may set the prices, which must be fair and reasonable, must cover exploitation costs and aim to an efficient provision and a reasonable operation margin. The authority may regulate the prices for reason of public interest.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2020, the BO published the ENACOM Resolution No. 1467/2020, which regulates the Mandatory Universal Basic Provision (PBU) for fixed and mobile telephone services, internet services and radio broadcasting by subscription through physical or radio links. Both the PBU benefits and the prices are established by the control authority. Only a certain group of persons who are covered by the cases set by the regulation (social plans beneficiaries, unemployed, etc.) may have access to the PBU. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The National Entity of Communications (ENACOM) has the power to control interconnection prices and tariffs, and also to set them in order to the general costs or other compensation mechanism. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Ministry of Modernization issued resolution 286/2018 establishing a new interconnection regulation. Based on this, ENACOM set a local origination or termination rate in the Fixed Telephony Service's networks equivalent to 0.0045 dollars per minute, for the local transit service an interim rate equivalent 0.0010 dollars per minute and for the service of long distance transport an interim rate equivalent to 0.0027 dollars per minute. A rate of 0.0108 dollars per minute applies to local origination or termination services in mobile networks. For all cases, the second was set as the appraisal unit of measurement. </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-206</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ib777a6d93af942bfa4fa1b0a7515c3dc" continuedAt="ie2c131b2e46144248d446cfa574ee774"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Colombia </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Colombia there are different agencies responsible for decision-making in the Information Technology and Communications sector (ICT), among them are the Ministry of Information and Communication Technologies (MinTIC), the Communications Regulation Commission (CRC), the National Spectrum Agency (ANE), the Superintendence of Industry and Commerce (SIC). </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Through Law 1341 of July 30, 2009, principles and concepts applicable to Information societies and the Organization of Information and Communications Technologies -ICT- are defined, the National Spectrum Agency is created and other provisions are issued and establishes the general framework for the formulation of public policies in the Information Technology and Communications sector. This Law was amended by Law 1978 of 2019, ICT sector is modernized, the competences are distributed and a single regulator is created, with the purpose of encouraging investment in the sector and focus on connectivity, creating more and better services, as well as unifying the regulatory framework and strengthening public television and radio. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, article 10 of Law 1341 of 2009 establishes the general rating regime for the provision of telecommunications networks and services, this rating is understood to be formally assorted, when the interested party is registered in the ICT register, provided by Article 15 of the abovementioned Law, in the same way. With the reform of this Law carried out with the Law 1978 of 2019, the subscription television service is included as provision of telecommunications networks and services and by virtue of the provisions of the transition regime established by such last mentioned regulation, the operators that to date of its publication, had concession contracts for the provision of television can qualify for general authorization and provide services in an environment of technological neutrality. In addition, telecommunication services continue to be public services in charge of the State, and Internet access has been declared an essential public service by Law 2108 of 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Also, in accordance with the provisions of Article 11 of the Law 1341 of 2009, the use of the spectrum requires prior, express and granted permission by the MinTIC. As of 2019, with the amendment of Article 8 of the Law 1978, the validity of the use permit is extended of spectrum and its renewal from 10 to 20 years. The regulation provides that the granting or renewal of the permit to use a segment of the radio spectrum will result in payment, in favor of the Information and Communications Technology Fund and in charge of the permit holder. With the amendment of 2019, this consideration may be partially paid, up to 60% of the total amount, through the execution of obligations to do, to expand the quality, capacity and coverage of the service, which benefits the poor and vulnerable population, or in remote areas, in public schools located in rural areas and other official institutions such as health centers and public libraries, as well as providing emergency networks. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the Colombian competition law is included in Law No. 155/1959, Decree No. 2153/1992 and Law No. 1340/2009 on restrictive trade practices.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main concessions and licenses for spectrum use are reflected in the table, at the end of the Annex. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telefonica applied in 2021 for the renewal of the permit for 15 MHz of spectrum in the 1900 MHz band, which was valid until October 18, 2021. For the renewal, on October 19, 2021 the MinTIC issued the resolution 2803 setting the price of renewal for 20 years. Telef&#243;nica appealed this resolution and the Ministry resolved, through Resolution 2143 of 2022, to decrease the renewal cost and eliminate the technological update obligations considered in the resolution of October 2021.  Telef&#243;nica filed a request for direct revocation of the Resolution 2143, which was denied through Resolution 4454 of 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Colombia, a Spectrum Auction Action Plan was published in December 2022 which announced that the conditions for the renewal of spectrum permits to expire in 2023 and 2024 will be defined and actions will be taken to carry out auctions of the remaining spectrum in the 700 MHz, 1900 MHz and 2500 MHz bands, and the 3.5 GHz and 26 GHz 5G bands, indicating that the assignment process would be carried out in the third quarter of 2023. In development of this, Min Tic published a resolution inviting parties to express interest in participating in the Auction Process for the granting of permits for the use of radio spectrum in the three aforementioned bands and adding to the process the 3.5GHz and 26GHz bands with the following amounts of spectrum available: 10MHz of 700 MHz and 1900MHz, 30 MHz in the 2500MHz band, 400 MHz in the 3500MHz band and 2.8 GHz in the 26 GHz band. An important change is that the ICT Ministry in 2022 modified the maximum spectrum caps for Telecommunications Networks and Services provider for use in terrestrial mobile services (IMT). The caps were set at 50 MHz for the low </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-207</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie2c131b2e46144248d446cfa574ee774" continuedAt="iae2a947a4f1945e1a225a9f02e608e7f"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">bands (below 1 GHz), 100 MHz for the medium bands (between 1 GHz and below 3GHz) and 100 MHz for the high medium bands (between 3 GHz and 6 GHz). In the expression of interest Telef&#243;nica stressed, among other points, the importance of an adequate spectrum pricing policy, transparency in valuation methodologies, an adequate framework to correct the problems of dominance in the mobile market and the elimination of barriers.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, although Telef&#243;nica is in favor of increasing the spectrum caps, has requested additional measures to avoid resource monopolization by the dominant operator.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mobile and fixed operators in Colombia have the right to interconnect to other operators&#8217; networks. Before the intervention of regulatory authorities, operators must attempt direct negotiations. Interconnection must assure compliance with the objectives of non-discriminatory treatment, transparency, prices based on costs plus a reasonable profit and promotion of competition. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2022 the CRC published Resolution 6522 of 2022 whereby some provisions related to the access, use and interconnection of telecommunications networks are modified, modifying the signaling conditions by introducing the mandatory use of the SIP protocol in at least one node of the network;  access conditions on the part of content and application providers (PCA) or Technology Integrators for the provision of content, some articles were modified regarding user protection with regards to sending SMS and USSD for commercial and advertising purposes, and establishing new obligations for assignees of short codes, the content of the Basic Interconnection Offer (OBI) was also changed with regards to the guarantees, establishing the option of prepayment and the obligation to update them.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022 the CRC issued Resolution 7007 which modifies the remuneration conditions for mobile services as of January 2023. The charges for termination in mobile networks, termination of text messages, and the remuneration of National Automatic Roaming and OMVs are reduced.  Bill and Keep will apply on remuneration of termination in mobile networks and SMS from May 1, 2025; it does not apply to the use of mobile networks by technology integrators, PCAs and international long distance providers. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Technologies of Information and Communications Law provides for a free pricing system for communication services, unless there are market failures or quality problems. From 2016 retail tariffs for fix to mobile calls are no longer regulated except for TIGO (one of the commercial names under which Colombia Movil operates) which still holds concession for the provision of personal communication services (PCS's). </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Peru </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provision of telecommunications services in Peru is governed by the Telecommunications Law, its General Regulation and related regulations. In July 2012, the Peruvian Congress approved the Law of Promotion of the Broad Band and Construction of the National Fiber Optic Backbone, Law No. 29904. This Law declared both (i) the construction of a National Fiber Optic Backbone available to the government to make possible the connectivity by the broad band; and (ii) the access and use of the infrastructure associated with the public services of energy and hydrocarbon to facilitate the display of the telecommunication network for the provision of the broad band of public necessity. In addition, Law No. 29904 implied that operators of electric, transport and hydrocarbon infrastructure projects would have to install fiber optic that would be available to the government and given in concession to telecommunication operators. Also, this law established that a percentage of the capacity of the National Fiber Optic Backbone would be reserved to the government to satisfy its necessities. Additionally, this Law incorporated the obligation of the Internet services providers to comply with the Net Neutrality regulations. In this sense, the NRA, the Organismo Supervisor de las Telecomunicaciones (OSIPTEL), adopted regulations aimed at providing clear guidelines on the implementation of the net neutrality regime adopted in Peru in 2012 that are in force since January 1, 2017. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Law No. 30083 was approved in September 2013, which seeks to strengthen competition in the public mobile market service by introducing MVNOs and mobile rural infrastructure operators (MRIO). Regulations developing the Act were published in August 2015. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The general competition framework in Peru is based on the Legislative Decree No. 1034. This Law it is applied, in the telecommunication sector, by OSIPTEL. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-208</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="iae2a947a4f1945e1a225a9f02e608e7f" continuedAt="i96794ec38488434e963bec06d5a5ba98"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2019, the government approved the Prior Control of Business Concentration Operations, applicable for those mergers, acquisitions, constitution of joint ventures or the acquisition of productive assets of economic agents that produce effects that restrict competition in the National territory. This regulation shall enter into force in March 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions to use spectrum are shown in the table at the end of this Annex. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica del Per&#250; S.A.A faces seven concession renewal processes which correspond to requests made between 2014 and 2020, all of them are pending of decisions on the part of the Ministry of Transportation and Communications (&#8220;MTC&#8221;). These concessions, according with Peruvian legislation, remain valid while the proceedings are still ongoing.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">One of these renewal processes corresponds to the fourth gradual renewal of the concessions for the provision of fixed telephony services, which must be reevaluated as Telef&#243;nica del Per&#250; S.A.A won the arbitration process against the MTC&#180;s decision to deny this renewal.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cable distribution broadcasting service concessions were renewed in May 2016 until March 2032 and 2033, respectively.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2020, the Ministry of Transportation and Communications granted Pangeaco, S.A.C. concession for the provision of telecommunications public services for a 20-year term, renewable. This Group company was created in March 2020 in order to provide all kind of telecommunications services, as well as to acquire, have and exploit telecommunications infrastructure. The company signed on January 15, 2021 the respective concession contract.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding to the auction on the 1,750 - 1,780 MHz, 2,150 - 2,180 MHz, and 2,300 - 2,330 MHz bands, Telef&#243;nica del Per&#250; S.A.A. was preselected for the 2022 auction, which was suspended. The process was restarted at the beginning of January 2023, and it is expected that the spectrum will be awarded by the end of the first half of 2023.  With regards to 5G, and the spectrum auction for the 3.5 GHz and 26 GHz band, no decision has been taken as of yet. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale regulation for Major Suppliers </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OSIPTEL reviews the markets identified as priority (fixed Internet, mobile, pay TV and circuits) every 3 years in order to determine the existence of major suppliers (companies with market power) in such markets and to impose obligations such as infrastructure sharing and services resale. On June 17, 2021, OSIPTEL resolved to declare Telef&#243;nica del Per&#250; S.A.A. and its Economic Group in the country as an important provider in the wholesale Pay TV market in 10 regional markets. Telef&#243;nica del Per&#250; S.A.A. won an appeal for reconsideration against this decision, eliminating the obligation of sharing/reselling content.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tariffs for fixed local telephony and long distance services are adjusted every three months considering services baskets, pursuant to a price cap formulae from inflation and a productivity and must be approved by OSIPTEL in accordance with a price cap formula based on a productivity factor. Rates charged by mobile providers to their customers have been subject to a free tariff regime supervised by OSIPTEL. Tariffs must be reported to OSIPTEL prior to implementation. On 2011, OSIPTEL approved a new price cap system by which the operators of fixed services determine the rates of the local fixed-mobile calls. Such rate is adjusted every time there is an adjustment mobile interconnection rate. On June 17, 2022, OSIPTEL adjusted the rate applicable to local calls made from Telef&#243;nica del Per&#250; S.A.A.&#8217;s fixed telephones to mobile networks in PEN 0.0006 per second without IGV. Said rate entered into force on June 19, 2022. In the 2022 adjustment, the level of the ceiling rate was maintained.</span><span style="color:#50535a;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 3, 2022, OSIPTEL published the amendment of the MTR, at 0.00129 U.S. dollars per minute rated at the second, which is applicable as of May 4, 2022 and applies to all mobile service operators. </span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-209</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i96794ec38488434e963bec06d5a5ba98" continuedAt="i509697bb72014cb9ae13369ca50ce41d"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main concessions and licenses held by the Telef&#243;nica Group </span></div><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="ifrs-full:DisclosureOfDetailedInformationAboutServiceConcessionArrangementsExplanatory" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0ODI1_1c7947d8-640f-491f-bab7-eec5eec3b3d2" continuedAt="ifc7a4a5244fa4a8684868abbd4355b3c" escape="true"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables list the concessions and licenses as at December 31, 2022 to use spectrum for mobile services and selected other applications in each country. </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:32.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.322%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.565%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.853%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.568%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUROPE</span></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 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Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i3114da59f2e643d287deb16bb3a48ad3_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzEtMS0xLTEtNTEwNDQy_b16fb6cb-fd85-4cc9-869d-b2d702cdbc32">700</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" 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solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i5e5374e18364447bbbfaeb7a079dd8d8_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMtMS0xLTEtNTEwNDQy_f1832ee6-ab4b-4999-85e6-d9051f07cd33">900</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i5e5374e18364447bbbfaeb7a079dd8d8_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMtMy0xLTEtNTEwNDQy_2041fdfc-3da4-48de-90ec-2897361f47f6">29.6</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="iee7ba0f060074bcfac604e518912caba_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzQtMS0xLTEtNTEwNDQy_12dfe754-dbe0-4107-add4-edafa1b958dc">1800</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="iee7ba0f060074bcfac604e518912caba_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzQtMy0xLTEtNTEwNDQy_9a8c60ff-6873-4e95-9aaa-5f21a2e04988">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="iac5fd8510a6e408cb9cb12b933fa9649_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzUtMS0xLTEtNTEwNDQy_3e73b4b1-41d0-4a32-96d4-3c49368f2520">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="iac5fd8510a6e408cb9cb12b933fa9649_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzUtMy0xLTEtNTEwNDQy_f4aa6749-b3b1-4269-ae9e-be3aa5a52920">5</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ic19385444d1348a19bfc516bf4f04365_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzYtMS0xLTEtNTEwNDQy_b86b5ad6-723e-4c2b-8eba-82dca10fecec">2100</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ic19385444d1348a19bfc516bf4f04365_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzYtMy0xLTEtNTEwNDQy_bd1f9ae3-bdf3-4246-ac9d-72f1dbadde49">29.6</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ia7319da769024f3e9beadda3e2c28a55_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzctMS0xLTEtNTEwNDQy_1c451f4b-09fb-4b73-abb7-3f9754cfc23c">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia7319da769024f3e9beadda3e2c28a55_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzctMy0xLTEtNTEwNDQy_d741730a-4306-4be3-bca6-e6bc940a903d">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i73789410248e48b8bb15f4c98bd5006b_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzgtMS0xLTEtNTEwNDQy_7f201470-70fc-4f63-8acc-7c4c0fa0d943">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i73789410248e48b8bb15f4c98bd5006b_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzgtMy0xLTEtNTEwNDQy_a971d74e-151a-483f-8b45-476e25c96bb4">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="if3be361940a8423099210b78da7f04b8_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzktMS0xLTEtNTEwNDQy_222fc274-a7bf-4dea-82c9-0294e79c41d0">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="if3be361940a8423099210b78da7f04b8_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzktMy0xLTEtNTEwNDQy_30275342-3394-4abe-aae1-a7606bdd7b01">10</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i52c3cafa61d543d0a7a2855cb1d951ea_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzEwLTEtMS0xLTUxMDQ0Mg_e4e15052-7940-48c4-9f74-5f7cdaaad32f">3.5</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i52c3cafa61d543d0a7a2855cb1d951ea_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzEwLTMtMS0xLTUxMDQ0Mg_463b949d-e134-457f-ad81-6a789d1928ea">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="iba0883836c934823a15635fb9349ad79_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzExLTEtMS0xLTUxMDQ0Mg_6ee2080c-864c-4755-a631-b94b63c0132f">3.5</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="iba0883836c934823a15635fb9349ad79_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzExLTMtMS0xLTUxMDQ0Mg_2e076360-bef1-4072-8268-23536225a0b9">10</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i3617b823b6e646389d46434417a75a35_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzEyLTEtMS0xLTUxMDQ0Mg_7192de49-1172-4031-865d-6a3a8e280795">3.5</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i3617b823b6e646389d46434417a75a35_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzEyLTMtMS0xLTUxMDQ0Mg_990a031b-9de8-4d81-9a4b-a6b0916c9544">50</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United Kingdom (5)</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ia3179d08bce844e1b9ea9d953f8e9681_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzEzLTEtMS0xLTUxMDQ0Mg_5a8b92c6-b753-4916-883f-2d75c4af9ab9">700</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia3179d08bce844e1b9ea9d953f8e9681_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzEzLTMtMS0xLTUxMDQ0Mg_af22e02c-e768-4024-8202-0a6fd7e2e706">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="iae12995fd57d4502acbbe245e12a0077_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE0LTEtMS0xLTUxMDQ0Mg_9532141e-4cb9-464e-b692-6a81c180f6fc">800</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="iae12995fd57d4502acbbe245e12a0077_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE0LTMtMS0xLTUxMDQ0Mg_89b1960d-010f-4d48-af33-08015501d25e">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ia127d950ccc44e3bbe37eddb62fc9fbc_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE1LTEtMS0xLTUxMDQ0Mg_595661a6-7607-4550-8f7a-b0b8f6feeb19">900</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia127d950ccc44e3bbe37eddb62fc9fbc_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE1LTMtMS0xLTUxMDQ0Mg_16b11f1a-66e0-43fd-bd85-db2b2d86567d">34.8</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i7d75facf21174c56824afad7eb2eed89_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE2LTEtMS0xLTUxMDQ0Mg_0d31cc2e-62a0-409f-bfbd-1bfee8ab73a2">1800</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i7d75facf21174c56824afad7eb2eed89_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE2LTMtMS0xLTUxMDQ0Mg_af2457cd-5281-4583-be47-916d0de0c111">11.6</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i9b0e7b15dcba41ba882aba1adbbac117_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE3LTEtMS0xLTUxMDQ0Mg_0178acf5-a2cf-4ab8-b9f1-22b021c20679">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i9b0e7b15dcba41ba882aba1adbbac117_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE3LTMtMS0xLTUxMDQ0Mg_194b5c51-88b0-4565-a339-6597418560c2">5</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ie0b3b9289759492b94bbb8763a91b28c_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE4LTEtMS0xLTUxMDQ0Mg_0d148aed-3ce7-4419-a4be-3c9d8d0c294f">2100</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ie0b3b9289759492b94bbb8763a91b28c_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE4LTMtMS0xLTUxMDQ0Mg_3eaf3efd-902c-42c6-976c-d5d96e5df30c">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i5429664c13dd4b8ba21eeec19e63ffb9_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE5LTEtMS0xLTUxMDQ0Mg_bcabb543-ebcc-4cf8-9efc-6fe454b8f690">2300</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i5429664c13dd4b8ba21eeec19e63ffb9_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzE5LTMtMS0xLTUxMDQ0Mg_99e9960c-a0a3-4656-a3e5-88a95dcef30a">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i1949089f473140db956bd87ea940bcf3_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIwLTEtMS0xLTUxMDQ0Mg_d9ac2368-1989-4596-8b4c-0717884f122d">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i1949089f473140db956bd87ea940bcf3_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIwLTMtMS0xLTUxMDQ0Mg_481c39e6-3bde-4e7a-bb7c-aa60fc9eac58">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="ic8ab2ce7a1544c2db3a5d71d52ed68ef_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIxLTEtMS0xLTUxMDQ0Mg_3c1b2370-0159-4e93-92d7-21abfdcdbc63">3.5</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="ic8ab2ce7a1544c2db3a5d71d52ed68ef_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIxLTMtMS0xLTUxMDQ0Mg_43d2051d-9168-457e-a7b1-94cf789afc83">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i31a51bd819bb4ab7b3c72696e977ef77_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIyLTEtMS0xLTUxMDQ0Mg_c37a3f48-b2ff-4848-9edb-b7b0fc0dffb4">3.5</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i31a51bd819bb4ab7b3c72696e977ef77_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIyLTMtMS0xLTUxMDQ0Mg_3006517d-bbe9-491e-8dde-e3326da6aeff">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="if7d842b741c3486494ee9af5e3e5bc95_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIzLTEtMS0xLTUxMDQ0Mg_c8b3aa1a-2864-4d8e-9368-11dc11f9ef6c">700</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="if7d842b741c3486494ee9af5e3e5bc95_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzIzLTMtMS0xLTUxMDQ0Mg_c6bde28b-9d91-4053-914d-332574daa4a6">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i18ac5141560c493d941fbc384164752b_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI0LTEtMS0xLTUxMDQ0Mg_707ca7e1-65bd-4d01-bbd3-efd2b258dab6">800</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i18ac5141560c493d941fbc384164752b_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI0LTMtMS0xLTUxMDQ0Mg_09e1d5a1-786a-40c5-8e21-60bcefee54ed">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i7325825d3f544816b80068401d736825_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI1LTEtMS0xLTUxMDQ0Mg_55f11b1c-2630-4187-9361-ac2132f826ce">900</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i7325825d3f544816b80068401d736825_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI1LTMtMS0xLTUxMDQ0Mg_747d51b6-0351-4e2b-aef0-f899c5657b77">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="iade936af62cc49569d393f4a67b0c9e5_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI2LTEtMS0xLTUxMDQ0Mg_9cbd8e02-74e3-4f33-ad55-9862cd0e7319">1800</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="iade936af62cc49569d393f4a67b0c9e5_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI2LTMtMS0xLTUxMDQ0Mg_2dd2a60b-bec7-4739-8f71-07f324b7e03c">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i43ea8387e7ce40c6acbdebced2cf32c9_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI3LTEtMS0xLTUxMDQ0Mg_7f122b43-3295-43d2-9cc8-02496a14b758">1800</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i43ea8387e7ce40c6acbdebced2cf32c9_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI3LTMtMS0xLTUxMDQ0Mg_aaae762f-880e-4086-8bf8-28912684077e">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i49a806b5eba649e88604120d3d1700bb_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI4LTEtMS0xLTUxMDQ0Mg_28563580-506e-4ffd-b992-c6681dbec490">2100</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i49a806b5eba649e88604120d3d1700bb_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI4LTMtMS0xLTUxMDQ0Mg_ce623ae4-c8a3-4704-bad8-b94ef0d4bf22">5</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i5e79f21c368a4f4ca626c950dd4041d5_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI5LTEtMS0xLTUxMDQ0Mg_1cbc5bec-ed55-4a2d-b16a-9e52fab231dc">2100</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i5e79f21c368a4f4ca626c950dd4041d5_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzI5LTMtMS0xLTUxMDQ0Mg_a1dee7f6-afd4-4250-b4d8-44a9cd4b9755">14.2</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i86585684760049f0aa10916c3ce9c75f_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMwLTEtMS0xLTUxMDQ0Mg_1e326929-8c3a-49ed-ad92-496231485e72">2100</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i86585684760049f0aa10916c3ce9c75f_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMwLTMtMS0xLTUxMDQ0Mg_d12b0417-a647-48a5-bc5b-4a259ee9e33f">10</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2040</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i63f07b750c0448e8af09489ea7c4b93c_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMxLTEtMS0xLTUxMDQ0Mg_ce76b04d-6e3a-4be2-b6fe-d78fda6a5655">2100</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i63f07b750c0448e8af09489ea7c4b93c_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMxLTMtMS0xLTUxMDQ0Mg_1800a85b-e851-445a-a8e9-edcfa42c5104">30</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i3c60d6b4509740b3af3d8a0ffbc7553a_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMyLTEtMS0xLTUxMDQ0Mg_a150ccee-3f02-4b69-9c3b-836ec7d6411a">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i3c60d6b4509740b3af3d8a0ffbc7553a_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMyLTMtMS0xLTUxMDQ0Mg_420448bb-7ce6-47db-b7c2-ecb1b3441ff3">60</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="if8897c0e219e43c58dadcc57399b5ec4_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMzLTEtMS0xLTUxMDQ0Mg_a8777b2c-224e-44a5-8ffb-8efd96b4d9da">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="if8897c0e219e43c58dadcc57399b5ec4_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzMzLTMtMS0xLTUxMDQ0Mg_6cfd7a49-e6f3-4cac-915b-c22b7ea19a7b">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i4b75b30182e241378b8db3e25262956a_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzM0LTEtMS0xLTUxMDQ0Mg_8dfa07a8-6883-464e-b6b4-1a4ae8002e46">3.5</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i4b75b30182e241378b8db3e25262956a_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo4YmYwNWQ2ZGE0MjA0NTQ4ODBlOTQ3MjA5YzAwZDIyZi90YWJsZXJhbmdlOjhiZjA1ZDZkYTQyMDQ1NDg4MGU5NDcyMDljMDBkMjJmXzM0LTMtMS0xLTUxMDQ0Mg_8a70b9db-ef04-4c73-99c1-48a99d1e5b6a">70</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2040</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Initial term until 1 December 1, 2041, can be extended for <ix:nonNumeric contextRef="i3114da59f2e643d287deb16bb3a48ad3_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYxODg2_db56e55a-6b80-4ab9-ad54-0042d5fa3810">20</ix:nonNumeric> additional years. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Initial term until 2020, extended concession until April 18, 2030. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses in Madrid and Melilla. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> National license excluding <ix:nonFraction unitRef="region" contextRef="if3be361940a8423099210b78da7f04b8_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsLicenseAmountsOfRegionsExcluded" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMDU3_c32be571-d5ad-4675-b48b-09e5d4950f7c">2</ix:nonFraction> regions (Madrid and Melilla). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"> These licenses are part of the joint venture with Liberty Global plc (VMED O2 UK Limited).</span></div></ix:nonNumeric></ix:continuation><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-210</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i509697bb72014cb9ae13369ca50ce41d" continuedAt="ie81406b37f3742c79c94cf133e3d9f25"><ix:continuation id="ifc7a4a5244fa4a8684868abbd4355b3c" continuedAt="ifbdeb54161094959b90d1a50dfa426e9"><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:33.357%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.618%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.870%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.468%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.565%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.853%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.569%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BRAZIL </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</span></div></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i8770be0fcd4e4c58bd3b8e2cc350f18d_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzItMS0xLTEtNTEwNDQy_7dfc5a6d-e753-40d4-a4e8-7f085494e419">700</ix:nonFraction></span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i8770be0fcd4e4c58bd3b8e2cc350f18d_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzItMy0xLTEtNTEwNDQy_55438730-dbe8-4a1c-ac43-0389968c1000">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i7d209754ac994f84a73f5e0e7467b4c6_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzMtMS0xLTEtNTEwNDQy_f247cec6-65e5-4c36-8a75-b3ed8a38a125">850</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i7d209754ac994f84a73f5e0e7467b4c6_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzMtMy0xLTEtNTEwNDQy_a5dcbe28-2e5b-4873-a8ce-7754cba8bbd7">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i34eea0d547474e318678c74423778862_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzQtMS0xLTEtNTEwNDQy_ba2affb4-f37c-4203-8b68-68de4c35f34f">900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="if7f541e7e6384b4dabf912cb3ddf8058_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzQtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246YmRjNWEyNjc4Mjg1NDhjOWJkYmIyNDdkNzAzYWQ1MTNfMTA5OTUxMTYyNzc4NQ_b079121b-f6c2-4493-a75e-ac09c973d42a">5</ix:nonFraction>-<ix:nonFraction unitRef="mhz_band" contextRef="if6692d25f62442d1b65ac20ebfc0de1c_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzQtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246YmRjNWEyNjc4Mjg1NDhjOWJkYmIyNDdkNzAzYWQ1MTNfMTA5OTUxMTYyNzc5MA_e9642e18-3c61-4e65-93fb-021ac22108c1">10</ix:nonFraction></span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023-2035</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ib7a4b42d366e433da5dd1a99d45aae15_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzUtMS0xLTEtNTEwNDQy_b7482bf9-d8a2-4fce-ad48-354409a81849">1800</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ie29165737d9c4c308a2eec6830edfd76_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzUtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246N2NjMWNjZmQ5NjBkNDZhZjk1MDNlOWRkNTI2YzY0OGRfNA_638d8549-311d-499c-9e2f-fc44b0fe3261">30</ix:nonFraction>-<ix:nonFraction unitRef="mhz_band" contextRef="ieeecff4497d341caa834dbbd548d1daa_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzUtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246N2NjMWNjZmQ5NjBkNDZhZjk1MDNlOWRkNTI2YzY0OGRfNw_410cfa1f-a6c4-4810-a2a8-9cf1912cc5c1">65</ix:nonFraction></span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023-2035</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i1f7e1bd728684fe79c9be9423ed6eaec_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzYtMS0xLTEtNTEwNDQy_a85cb5c4-787e-4b35-9a11-079837bbac95">2100</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i09211f5584b74325987cf54083d3e888_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzYtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246ODg3MmM0NjIzMjJmNDI1NWJlOTJiODE3ZDU2ZmFjNzRfNA_61dbac94-772a-4033-83d4-485758e1fb54">30</ix:nonFraction>-<ix:nonFraction unitRef="mhz_band" contextRef="ia3ecc77184844509ae2a8e42ae359e88_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzYtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246ODg3MmM0NjIzMjJmNDI1NWJlOTJiODE3ZDU2ZmFjNzRfNw_0f15a393-4717-4c2c-a4f6-8537b9e171fa">60</ix:nonFraction></span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i26f365b3f7854ef38cf6f03ff27fc903_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzctMS0xLTEtNTEwNDQy_411f5f30-7966-4519-98de-1ccead7ad946">2300</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia48edd6e7f854ceaa295057fb96f0f27_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzctMy0xLTEtNTEwNDQyL3RleHRyZWdpb246NDA2ZWEyYjM5NThkNGMxNGJmZWNkMTI1NWVjODFhOWJfNA_d01caab2-6d7a-4c31-a890-86be1abffd6e">40</ix:nonFraction>-<ix:nonFraction unitRef="mhz_band" contextRef="i8ece355807284f11a40bc9dd73e0eafd_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzctMy0xLTEtNTEwNDQyL3RleHRyZWdpb246NDA2ZWEyYjM5NThkNGMxNGJmZWNkMTI1NWVjODFhOWJfNw_bace4d04-3e3a-44c0-ae98-5460c472336d">50</ix:nonFraction></span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i38fe1d2a76804661936bbec708ca9ca3_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzgtMS0xLTEtNTEwNDQy_cbe003ce-93b1-41e8-8e27-e54745d4cb27">2500</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i2f55b0e78ba34c65bd85134cdf84ebc6_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzgtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246YmI5NTgyOWI3ODkzNGViZThiMzBkNzQyZGExMGUzODhfNA_b94a7a4f-1e22-40d9-952a-d1e8ec0a0935">40</ix:nonFraction>-<ix:nonFraction unitRef="mhz_band" contextRef="i60c53d5c2d994e82bdfe72234a0cabef_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzgtMy0xLTEtNTEwNDQyL3RleHRyZWdpb246YmI5NTgyOWI3ODkzNGViZThiMzBkNzQyZGExMGUzODhfNw_eb7bf6b6-cf62-4b14-9ee9-888684f34593">60</ix:nonFraction></span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027-2031</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i7857a7066663432992f92f2d94e5b7ba_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzktMS0xLTEtNTEwNDQy_f5522466-c485-4e5f-8bd7-826f9cfb4250">3.5</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i7857a7066663432992f92f2d94e5b7ba_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzktMy0xLTEtNTEwNDQy_a616671a-baf6-4d73-9182-6fc2de20dadc">100</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i6574a73f561d4086b5c79990546a15ae_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzEwLTEtMS0xLTUxMDQ0Mg_d074893c-3fa2-48be-b3d3-4923b34efa98">26</ix:nonFraction></span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHZ</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i6574a73f561d4086b5c79990546a15ae_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTo5ZGFiYjhlNjkxYTg0MzBmYThkMDc2OWJkMjU2ZjlhZS90YWJsZXJhbmdlOjlkYWJiOGU2OTFhODQzMGZhOGQwNzY5YmQyNTZmOWFlXzEwLTMtMS0xLTUxMDQ0Mg_606a220f-c3c5-4158-93c0-501d54e6dd53">600</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Expiration date accounts for initial term of <ix:nonNumeric contextRef="i38fe1d2a76804661936bbec708ca9ca3_D20220101-20221231" name="tef:RegulatoryOperationsInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjM4_0f24d5ff-9dec-4892-9542-82cbc9215944"><ix:nonNumeric contextRef="i221ef02931b44b41a900e78100aee171_D20220101-20221231" name="tef:RegulatoryOperationsInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjM4_416299f8-1334-4824-acc3-79dd916cc5f6"><ix:nonNumeric contextRef="i1f7e1bd728684fe79c9be9423ed6eaec_D20220101-20221231" name="tef:RegulatoryOperationsInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjM4_55037d21-9df9-415a-8234-f2d0d98b7e23"><ix:nonNumeric contextRef="i8770be0fcd4e4c58bd3b8e2cc350f18d_D20220101-20221231" name="tef:RegulatoryOperationsInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjM4_8ece6dcf-90d1-4b1f-8c5b-7617c7eb5e3e">15</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> years for <ix:nonFraction unitRef="mhz_frequency" contextRef="i221ef02931b44b41a900e78100aee171_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjQ1_66c49594-22dc-4565-9d9f-68b89008b1b4">450</ix:nonFraction>, <ix:nonFraction unitRef="mhz_frequency" contextRef="i8770be0fcd4e4c58bd3b8e2cc350f18d_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjQ5_1db36c78-b903-4dc0-bb66-d6accba22330">700</ix:nonFraction>, <ix:nonFraction unitRef="mhz_frequency" contextRef="i1f7e1bd728684fe79c9be9423ed6eaec_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjUz_32b917af-1c25-4d96-b297-d7f1ced38207">2100</ix:nonFraction> and <ix:nonFraction unitRef="mhz_frequency" contextRef="i38fe1d2a76804661936bbec708ca9ca3_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjYw_5b89f91d-0b88-47a8-bcfe-0f1c38619d41">2500</ix:nonFraction> MHz bands, another <ix:nonNumeric contextRef="i221ef02931b44b41a900e78100aee171_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjgy_1ba02a2b-401e-40a4-91a5-e9462dc92192"><ix:nonNumeric contextRef="i8770be0fcd4e4c58bd3b8e2cc350f18d_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjgy_1ebea9bd-eb59-4e09-a668-b671588bc1e5"><ix:nonNumeric contextRef="i1f7e1bd728684fe79c9be9423ed6eaec_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjgy_5ba2df9a-2e33-4776-9500-a6c919916f6d"><ix:nonNumeric contextRef="i38fe1d2a76804661936bbec708ca9ca3_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMjgy_b2739121-f0d6-4032-bdb0-56b2d8b21085">15</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> years extension are contemplated in these licenses. In <ix:nonFraction unitRef="mhz_frequency" contextRef="i26f365b3f7854ef38cf6f03ff27fc903_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzM0_1167fb41-0e40-4fe1-8ee4-aea58c788245">2300</ix:nonFraction> MHz, <ix:nonFraction unitRef="ghz_frequency" contextRef="i7857a7066663432992f92f2d94e5b7ba_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzQy_49a96e07-74cb-4401-a87e-f0a4ce9d8315">3.5</ix:nonFraction> and <ix:nonFraction unitRef="ghz_frequency" contextRef="i6574a73f561d4086b5c79990546a15ae_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzQ5_3e835dd1-fa6e-4e3d-aa86-3d6e2b9bcdf5">26</ix:nonFraction> GHz the initial term is <ix:nonNumeric contextRef="i7857a7066663432992f92f2d94e5b7ba_D20220101-20221231" name="tef:RegulatoryOperationsInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzc2_29380a8e-7b6c-4290-9af2-0b1bfe8deb2b"><ix:nonNumeric contextRef="i6574a73f561d4086b5c79990546a15ae_D20220101-20221231" name="tef:RegulatoryOperationsInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzc2_c1dc7598-b2e6-4fdc-8d71-4cf0f31ca8ad"><ix:nonNumeric contextRef="i26f365b3f7854ef38cf6f03ff27fc903_D20220101-20221231" name="tef:RegulatoryOperationsInitialTerm" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzc2_e316ba50-bb5d-4d86-81dc-2d30bc353560">20</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> years, with additional <ix:nonNumeric contextRef="i26f365b3f7854ef38cf6f03ff27fc903_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzk2_33e98eb1-9c0a-424e-8b4d-748f5f85e7fe"><ix:nonNumeric contextRef="i7857a7066663432992f92f2d94e5b7ba_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzk2_da354bb0-3dbb-48be-b037-68b70c33bb08"><ix:nonNumeric contextRef="i6574a73f561d4086b5c79990546a15ae_D20220101-20221231" name="tef:RegulatoryOperationsPossibleTermExtension" format="ixt-sec:duryear" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyMzk2_dcb9cbba-4f3c-48bb-b4f3-8dd870523c10">20</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric> years extension. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional codes are included in Annex 1. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Except regions 2', 4', 6', 7', 7&#8217;&#8217; and 10. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses second term expiring in different dates. Concession extended until 2028.  </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses of 5 MHz or 10 MHz. Not in regions 1 and 10. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(6)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses: second term expiration and renewal dates are dependent on the region.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(7)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses between <ix:nonFraction unitRef="mhz_band" contextRef="ie29165737d9c4c308a2eec6830edfd76_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsAndLicenseBandwidthRegional" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYyOTI0_dd20e778-80b1-4f00-86a3-4098447c52da">30</ix:nonFraction> MHz and <ix:nonFraction unitRef="mhz_band" contextRef="ieeecff4497d341caa834dbbd548d1daa_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsAndLicenseBandwidthRegional" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMDAx_392919f4-b073-4673-8249-d8e61fe4ac30">65</ix:nonFraction> MHz.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(8)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> <ix:nonFraction unitRef="mhz_band" contextRef="i2f55b0e78ba34c65bd85134cdf84ebc6_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMDE2_d9d0e416-d597-4c3c-8bd0-b268c03bb51f">40</ix:nonFraction> MHz national license, plus Band P (<ix:nonFraction unitRef="mhz_band" contextRef="i38fe1d2a76804661936bbec708ca9ca3_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsAndLicenseBandwidthAdditionalBandwith" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMDU0_b612c61a-57a0-4d1b-8fbe-46efd16e61e9">20</ix:nonFraction> MHz) in some areas. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(9)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> The initial term of Band X will expire in 2027 and Band P will expire in 2031. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(10)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> <ix:nonFraction unitRef="mhz_band" contextRef="i09211f5584b74325987cf54083d3e888_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMTY4_105776cc-deae-4071-9c82-56fae92f7cd1">30</ix:nonFraction> MHz in some regions. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(11)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses: <ix:nonFraction unitRef="mhz_band" contextRef="i91a517f201884b8782e4d0ba56b2aa7d_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMjE3_d4cb3b1b-9084-4ce3-beb1-7ffadb616a8e">40</ix:nonFraction> MHz in North, SP and CO; <ix:nonFraction unitRef="mhz_band" contextRef="i499c84c92e4a46c7bbaae575201f775d_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMjQ1_596b6cb9-d097-43cd-8bda-05a0b89fe892">50</ix:nonFraction> MHz in RJ, ES e MG.</span></div></ix:continuation></ix:continuation><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-211</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="ie81406b37f3742c79c94cf133e3d9f25" continuedAt="i5f59f6d5fbc14e4ea482833c80afbaec"><ix:continuation id="ifbdeb54161094959b90d1a50dfa426e9"><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.391%"><tr><td style="width:1.0%"></td><td style="width:21.336%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.803%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.058%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.313%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.441%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">HISPANOAM&#201;RICA</span></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Argentina</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ia8a2471a2a104b47b1fee4d8b11cca82_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEtMS0xLTEtNTEwNDQy_71a64840-552b-4576-be91-5f24f2f6786d">700</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia8a2471a2a104b47b1fee4d8b11cca82_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEtMy0xLTEtNTEwNDQy_27d89928-2f25-4f3a-8e58-8f0bb8e5dab4">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i68cdb1d217f340df9f61040425893635_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzItMS0xLTEtNTEwNDQy_988d66f2-420a-4951-a673-e2562f7a7523">850</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (AMBA)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i68cdb1d217f340df9f61040425893635_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzItMy0xLTEtNTEwNDQy_da2e768c-4593-4602-8e30-567f162cae3a">30</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="id66f7140863842faa83b4234a1db199d_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMtMS0xLTEtNTEwNDQy_54712bf9-2049-4366-96c5-e0b713886d71">850</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Sur)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="id66f7140863842faa83b4234a1db199d_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMtMy0xLTEtNTEwNDQy_38876274-ea0a-4b2f-a336-b94854d4a076">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i2cf92af0a4c9498d800712f51ee1f634_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQtMS0xLTEtNTEwNDQy_dae9ae68-7a6e-4872-b89c-31da2cb55df6">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (AMBA)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i2cf92af0a4c9498d800712f51ee1f634_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQtMy0xLTEtNTEwNDQy_d49d0276-1bcb-4b39-b6e4-4597a72c42c0">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ie087805dba944408ad52025aff431d55_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzUtMS0xLTEtNTEwNDQy_54c0d6ed-05f9-404d-890c-16a9b9c5989e">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Norte)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ie087805dba944408ad52025aff431d55_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzUtMy0xLTEtNTEwNDQy_4f6a8196-d8b0-4d1c-ad26-21c23d5b55b5">50</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i51fa683001dd43b887799215e2e879e5_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzYtMS0xLTEtNTEwNDQy_339e20f1-90c8-42a6-a960-98a005defcf2">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Sur)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i51fa683001dd43b887799215e2e879e5_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzYtMy0xLTEtNTEwNDQy_04132753-1829-48f7-822a-c700c84823f2">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_per_2100mhz_frequency" contextRef="iec349f6bbb074154897fa2c345cdade4_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzctMS0xLTEtNTEwNDQy_bbdfdc6b-de66-4dd8-ab22-b334f24bb077">1700</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="iec349f6bbb074154897fa2c345cdade4_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzctMy0xLTEtNTEwNDQy_74fe2ef6-23ee-4268-b55c-a8ae52ad0bca">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i2ea3c92484374b319a6e14e71e71c5bb_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzgtMS0xLTEtNTEwNDQy_08bb9288-3f27-49db-97d9-3f4164747dfb">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i2ea3c92484374b319a6e14e71e71c5bb_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzgtMy0xLTEtNTEwNDQy_5be8f5c4-5e32-4b53-93f0-616daa3091a2">30</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2035</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="iad8aa856c924498fb9530c3320079adc_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzktMS0xLTEtNTEwNDQy_823e3a12-7f3c-47c8-920f-040aabdd5395">3.5</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="iad8aa856c924498fb9530c3320079adc_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzktMy0xLTEtNTEwNDQy_f90504e5-10da-4f8e-b341-2a75b6614fa5">50</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chile</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ife36f5c03a8e41fd8e229eea399f2892_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEwLTEtMS0xLTUxMDQ0Mg_02f0bb7c-e845-40ef-bd29-2e2ed2579ea7">700</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ife36f5c03a8e41fd8e229eea399f2892_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEwLTMtMS0xLTUxMDQ0Mg_b30aad7e-489a-4cb7-a2c6-09d7fa9b005f">20</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2045</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ic1b16726740b466b9147327c3357f92a_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzExLTEtMS0xLTUxMDQ0Mg_01243264-f7d6-43ac-857e-818465a2cdb6">850</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ic1b16726740b466b9147327c3357f92a_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzExLTMtMS0xLTUxMDQ0Mg_719fd620-3bdd-4307-bc03-ef0371d12ccd">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i78e809e31d1248b69d0a1a63403dd30a_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEyLTEtMS0xLTUxMDQ0Mg_114c3e9b-9755-4e6e-b44a-64e1e3a2cbca">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i78e809e31d1248b69d0a1a63403dd30a_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEyLTMtMS0xLTUxMDQ0Mg_73900c85-19fd-44ee-9db4-59236aabd428">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2032</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="id26c3f02a77840038ad35c785e5334d6_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEzLTEtMS0xLTUxMDQ0Mg_30c8865b-2456-41b3-b297-ee656b59905c">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="id26c3f02a77840038ad35c785e5334d6_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzEzLTMtMS0xLTUxMDQ0Mg_e0319939-07a9-46e8-9203-457c1f4e1917">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2043</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i7f3fbe33713e4bc9adf091b4e498b82e_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE0LTEtMS0xLTUxMDQ0Mg_196787f4-bbce-4882-aa34-e0b280f66a24">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i7f3fbe33713e4bc9adf091b4e498b82e_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE0LTMtMS0xLTUxMDQ0Mg_ac1b2f3e-603e-427e-9f13-08f84962aa06">12</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="if3cb879804574853aea72f7e2b8b501f_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE1LTEtMS0xLTUxMDQ0Mg_955d7779-a39d-4fd0-a8c2-72930789bbaa">3.5</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="if3cb879804574853aea72f7e2b8b501f_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE1LTMtMS0xLTUxMDQ0Mg_f3098407-c749-4c49-9ebc-23b83b205c4e">50</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2051</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i2fcb80bcd1724996854a6dd6ae97207b_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE2LTEtMS0xLTUxMDQ0Mg_c71569e1-cc0f-4758-ba4d-b68b320888d0">850</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i2fcb80bcd1724996854a6dd6ae97207b_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE2LTMtMS0xLTUxMDQ0Mg_50e91fe5-99bd-4a25-beaf-eb8417b7dddf">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_per_2100mhz_frequency" contextRef="i8bdfa4dd7db340288de5449df3e502ca_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE3LTEtMS0xLTUxMDQ0Mg_5a5af6e4-5a8e-4709-afe2-fb7ca4499528">1700</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i8bdfa4dd7db340288de5449df3e502ca_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE3LTMtMS0xLTUxMDQ0Mg_93773af7-953c-4014-a123-d9ac00267e42">30</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i086de9aa56dd4ac88d713208040c4e22_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE4LTEtMS0xLTUxMDQ0Mg_3acdde8d-87aa-4147-bcd1-28b0ec42e797">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i086de9aa56dd4ac88d713208040c4e22_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE4LTMtMS0xLTUxMDQ0Mg_8ccae85c-fa18-49dc-a583-eff2a340d74f">15</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i215d3b3d264f4796860bc7e32f368cd1_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE5LTEtMS0xLTUxMDQ0Mg_df884d31-300b-48da-a5f6-8d3425d802e4">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i215d3b3d264f4796860bc7e32f368cd1_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzE5LTMtMS0xLTUxMDQ0Mg_6feff76a-34ef-4f2c-a110-0085022dca0b">15</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ecuador</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i6da126360979470eaa4945f573244e00_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzIwLTEtMS0xLTUxMDQ0Mg_7ac4946a-133c-4607-9e10-d57822356c09">850</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i6da126360979470eaa4945f573244e00_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzIwLTMtMS0xLTUxMDQ0Mg_fcaa5f9f-2d3d-4b03-83b0-fb32e45e266b">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i6abb5b09361047cfae0dffc85803c7ca_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzIxLTEtMS0xLTUxMDQ0Mg_2cce8545-a03a-4fa4-a821-81fdfaa5199a">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i6abb5b09361047cfae0dffc85803c7ca_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzIxLTMtMS0xLTUxMDQ0Mg_c82cf717-eb96-4a7e-803e-5627731ff0ad">60</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Peru</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ia5be0115a3bc44d393f5adafd94a3e69_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI1LTEtMS0xLTUxMDQ0Mg_a19a026c-88a2-4439-abd5-950824ca74bd">450</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia5be0115a3bc44d393f5adafd94a3e69_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI1LTMtMS0xLTUxMDQ0Mg_2114b51f-3631-4a27-ab22-92cc50d83bde">10</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i5a4ca14b0d704ee489f70b6fe9bc2882_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI2LTEtMS0xLTUxMDQ0Mg_e510f75a-c9a3-4cb5-8ebc-059afda770bf">700</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i5a4ca14b0d704ee489f70b6fe9bc2882_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI2LTMtMS0xLTUxMDQ0Mg_131e6292-908d-4042-87d0-833a8525ddc4">30</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2036</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i41122c7da3eb42f0a7c86ac73a62bb8d_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI3LTEtMS0xLTUxMDQ0Mg_81c2dbf6-a35e-4949-ae35-c268396f0c5b">850</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i41122c7da3eb42f0a7c86ac73a62bb8d_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI3LTMtMS0xLTUxMDQ0Mg_9d5dea38-dff2-4a58-a8da-9d1132646557">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="if473f08def914743905cc899bd5ef10f_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI4LTEtMS0xLTUxMDQ0Mg_c1268ac9-0c6f-4a92-9ced-2a9abd06e4f3">900</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Lima and Callao)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="if473f08def914743905cc899bd5ef10f_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI4LTMtMS0xLTUxMDQ0Mg_ad04c5a9-e475-4194-8d35-3c087518dc99">10</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i94002948b57f4b2fa7a40244c7ff465b_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI5LTEtMS0xLTUxMDQ0Mg_170a47ac-d7e7-43ea-8041-410881a8b242">900</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Rest of provinces)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i94002948b57f4b2fa7a40244c7ff465b_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzI5LTMtMS0xLTUxMDQ0Mg_9132da42-592a-4c03-974b-3d933c146cc2">16</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_per_2100mhz_frequency" contextRef="if8e9ddfd36f248de93d8d41e10fbb207_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMwLTEtMS0xLTUxMDQ0Mg_fedb0b4e-93eb-4ddc-a7c9-57aadb59e9cc">1700</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="if8e9ddfd36f248de93d8d41e10fbb207_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMwLTMtMS0xLTUxMDQ0Mg_dad3cefc-0e73-445b-b772-dcd69a790b8c">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="idea721aecf49452a820ccb51a367e4dd_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMxLTEtMS0xLTUxMDQ0Mg_66ffd9fb-061f-40b2-814c-ad2121d9a697">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Lima and Callao)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="idea721aecf49452a820ccb51a367e4dd_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMxLTMtMS0xLTUxMDQ0Mg_2349d9f9-9892-4b7b-861c-090f380a26f4">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="icf371bc17ee04cad933150d2c6cad9a4_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMyLTEtMS0xLTUxMDQ0Mg_2d5d7e50-32a5-48a8-9aff-de5cf3c72822">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Rest of provinces)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="icf371bc17ee04cad933150d2c6cad9a4_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMyLTMtMS0xLTUxMDQ0Mg_b8aa8db1-0668-4539-989c-c75f69bb4d1d">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2018</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i6446368f2d9b479a9c6a4cf5858c3ca3_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMzLTEtMS0xLTUxMDQ0Mg_9e696da5-3e5e-4bb6-98dd-b3164d935c31">3.5</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i6446368f2d9b479a9c6a4cf5858c3ca3_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzMzLTMtMS0xLTUxMDQ0Mg_ffdaf60f-ff1d-4a3c-8168-11cdc73d3294">50</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Uruguay</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i97cb7c67d2f14834a43b3c6082383527_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM0LTEtMS0xLTUxMDQ0Mg_c7518d40-09ea-47eb-972b-a25c8d6cd523">700</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i97cb7c67d2f14834a43b3c6082383527_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM0LTMtMS0xLTUxMDQ0Mg_b89d11b0-8624-474f-a2a5-811000219c6e">30</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2037</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ia1f7b36e4c3e4e74a34c3acc23073c68_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM1LTEtMS0xLTUxMDQ0Mg_ea32fbd9-ed70-40d8-8c22-6ff75f6f0c4e">850</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia1f7b36e4c3e4e74a34c3acc23073c68_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM1LTMtMS0xLTUxMDQ0Mg_13bdacc2-9d30-4edf-8c0d-f2f0a17b4c07">25</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ia805b69c47ac4d7cb6577c87f12bcdef_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM2LTEtMS0xLTUxMDQ0Mg_df372b59-039b-4784-a2bd-8a5f4d598b82">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ia805b69c47ac4d7cb6577c87f12bcdef_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM2LTMtMS0xLTUxMDQ0Mg_d30d6a90-78bf-4efb-b4d2-19021eeae7ba">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024/2047</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i6b3ced2ae0174dfd978f9936c9090ace_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM3LTEtMS0xLTUxMDQ0Mg_a40b89cd-8950-4f80-98eb-cb68127635af">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i6b3ced2ae0174dfd978f9936c9090ace_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM3LTMtMS0xLTUxMDQ0Mg_98cc5856-c2a4-47d3-af24-59e5c5875c7e">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i9c25dd4526f34f45a608dc90d6c443b0_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM4LTEtMS0xLTUxMDQ0Mg_97c3eb54-9c69-4080-b8d8-262dfd82bc5f">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i9c25dd4526f34f45a608dc90d6c443b0_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM4LTMtMS0xLTUxMDQ0Mg_867e0b0c-f2e9-462d-9f0e-a72b51284d38">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2045</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Venezuela</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i3721db2af44a47e8b2f0b6a0d1553513_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM5LTEtMS0xLTUxMDQ0Mg_fcc87cea-c192-4274-8f89-2b88520e4df0">850</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i3721db2af44a47e8b2f0b6a0d1553513_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzM5LTMtMS0xLTUxMDQ0Mg_ce784190-5ab1-4643-a542-55ae254279b5">25</ix:nonFraction>&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="i327289dcf6674fecaaa1ad7752f3d486_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQwLTEtMS0xLTUxMDQ0Mg_e8696f2b-929c-414a-aeb2-e91eb752756e">1900</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i327289dcf6674fecaaa1ad7752f3d486_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQwLTMtMS0xLTUxMDQ0Mg_9b382b57-40a3-4403-8fff-86544ede3adb">50</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_per_2100mhz_frequency" contextRef="i5e22479b7ae24701927be936dd8b6121_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQxLTEtMS0xLTUxMDQ0Mg_6ee1e2e4-3aec-460f-bd78-3ac013cd094b">1700</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="i5e22479b7ae24701927be936dd8b6121_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQxLTMtMS0xLTUxMDQ0Mg_872cfd04-4b89-491e-b63f-2d0e0be6f599">20</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_frequency" contextRef="ic08a4a4e172f46aaac591d2e707ee54f_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQyLTEtMS0xLTUxMDQ0Mg_f7f24f0e-cdd9-47bf-b99c-38d2287dc84e">2600</ix:nonFraction></span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="mhz_band" contextRef="ic08a4a4e172f46aaac591d2e707ee54f_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQyLTMtMS0xLTUxMDQ0Mg_154c0ecd-ec55-4080-8426-b5ba32a0d60b">40</ix:nonFraction>&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_frequency" contextRef="i21214aed169d40299e9238e37d39fbe1_D20220101-20221231" decimals="1" name="tef:RegulatoryOperationsConcessionsandLicensesFrequency" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQzLTEtMS0xLTUxMDQ0Mg_3929a4da-3b4f-409d-95de-123d972ee89b">3.5</ix:nonFraction></span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"><ix:nonFraction unitRef="ghz_spectrum_band" contextRef="i21214aed169d40299e9238e37d39fbe1_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90YWJsZTpiNjU2MTdkYmRiMWM0NzBjOWMzZGUzZDJkNjkwZmU5Yi90YWJsZXJhbmdlOmI2NTYxN2RiZGIxYzQ3MGM5YzNkZTNkMmQ2OTBmZTliXzQzLTMtMS0xLTUxMDQ0Mg_82c3d054-89aa-44d1-a4d6-8910ff87a7ae">50</ix:nonFraction>&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Covering <ix:nonFraction unitRef="number" contextRef="i2ea3c92484374b319a6e14e71e71c5bb_D20220101-20221231" decimals="2" name="tef:RegulatoryOperationsPercentageofTotalPopulationinServiceArea" scale="-2" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMjg0_6eb931ad-7ba5-4a68-b39d-1151951fbf62">65</ix:nonFraction>% of the population.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Fixed Wireless Access licenses <ix:nonFraction unitRef="mhz_band" contextRef="ife37a4afea4e4d02b2523152536f5e6c_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMzQz_1a0a3906-9d93-4f69-ac46-5c5af4fca30b">25</ix:nonFraction>+<ix:nonFraction unitRef="mhz_band" contextRef="ife37a4afea4e4d02b2523152536f5e6c_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMzQ2_d48417e2-ec7e-4a55-99aa-c2c5ac53d43b">25</ix:nonFraction> MHz in <ix:nonFraction unitRef="location" contextRef="iad8aa856c924498fb9530c3320079adc_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsNumberOfLocalities" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzMzU2_b6ee5dc9-ed15-48ff-8d2b-83b120caca87">23</ix:nonFraction> localities with indefinite term (Res. SC 10160/1999, including AMBA region). </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> <ix:nonFraction unitRef="mhz_band" contextRef="i78e809e31d1248b69d0a1a63403dd30a_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsAndLicenseBandwithSold" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzNDQx_567838ad-538a-475a-a31d-d854af043957">10</ix:nonFraction>MHz sold in 2021 as a result of the &#8216;Subtel&#8217; (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 <ix:nonFraction unitRef="mhz_band" contextRef="ifbe34a883bfa4f3db6ce2e748fd3d263_D20140101-20141231" decimals="INF" name="tef:RegulatoryOperationsConcessionsAndLicenseBandwithTotalAuction" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzYzNjYx_a29e7b2b-d736-4f03-9141-e4f723f1b81a">700</ix:nonFraction>MHz auction in 2014. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Only in Metropolitan Region. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Renewed for 20 years. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(6)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Provinces of Lima and Callao: expiration date of March 2030; rest of provinces in December 2030. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(7)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> In process of renewal. Extension requested on May 30, 2016. According to the regulation, the license maintains its validity until the Ministry of Transport and Communications decides over the request presented. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(8)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> <ix:nonFraction unitRef="mhz_band" contextRef="i32ea67663fbf46afa72ae5569b676d30_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0MzYx_d86c0c5a-4c23-49b1-8aa1-2d5be9edd79b">10</ix:nonFraction> MHz expires in 2024; <ix:nonFraction unitRef="mhz_band" contextRef="id9fffb0ee4714a86bcb7ee6171917f85_D20220101-20221231" decimals="INF" name="tef:RegulatoryOperationsConcessionsandLicenseBandwidth" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0Mzg1_3fcc8267-b587-41b9-bfb9-8f73fc1f3753">10</ix:nonFraction> MHz has been renewed for 25 years until in 2047. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(9)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Renewed for 5 years. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline">(10)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"> Available for Fixed Wireless Access licenses.</span></div></ix:continuation><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:174%">Telef&#243;nica seeks&#160;to use its spectrum in the most efficient way, implementing 5G and LTE-Advanced where possible. </span></div></ix:continuation><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><ix:continuation id="i5f59f6d5fbc14e4ea482833c80afbaec">Besides the spectrum assets included in the above tables, Telef&#243;nica owns other assets of spectrum used for other services in higher frequency ranges (above <ix:nonFraction unitRef="ghz_spectrum_band" contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" decimals="0" name="tef:RegulatoryOperationsFrequencyRangeOwnedbyTelefonica" scale="0" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0NzI2_51f11a0d-9ffa-429b-b531-a1e70eef4ae9">6</ix:nonFraction> GHz), including access transport.</ix:continuation> </span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-212</span></div></div></div><div id="i2ad619f032b2435680b3f6486d100018_391"></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><ix:continuation id="i14c18749849f4b63923c55785555b820" continuedAt="iddd6678e759d4bcd8c1d0faa003b1d68"><div style="margin-top:9pt"><span style="color:#1f497d;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">ANNEX 1</span><ix:nonNumeric contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231" name="tef:ScheduleOfAcronymsForSpectrumPortfolioTableTextBlock" id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zOTEvZnJhZzo5MDRkMTQwZWJiYzU0OTNkOThkMzE4OWVlODI4NTE3Yy90ZXh0cmVnaW9uOjkwNGQxNDBlYmJjNTQ5M2Q5OGQzMTg5ZWU4Mjg1MTdjXzIx_3d0ab15c-859f-431a-a509-7102171fba94" continuedAt="i8299b9b897f948e894898da52d8a1596" escape="true"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:33.453%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.347%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acronym</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">State</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acre</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alagoas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amap&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amazonas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bahia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ceara</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distrito Federal</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Esp&#237;rito Santo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goi&#225;s</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Maranh&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Minas Gerais</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Par&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Para&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paran&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pernambuco</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Piau&#237;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio de Janeiro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Norte</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rond&#244;nia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Roraima</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Catarina</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">S&#227;o Paulo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sergipe</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tocantins</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr></table></ix:nonNumeric></div><div><ix:continuation id="i8299b9b897f948e894898da52d8a1596" continuedAt="iac825a10c47a4e289441d79f5f14d0e2"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:33.453%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.347%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Regions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">States &amp; towns<br/>included in the regions</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (City)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (Interior)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP -&#160;&#160;towns of sector 33 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ and ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG -&#160;&#160;towns of sector 3 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR and SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR - towns of sector 20 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS - towns of sector 30 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC, DF, GO, MS, MT, RO and TO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO - towns of sector 25 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7''</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS - towns of sector 22 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM, AP, MA, PA and RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA and SE</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL, CE, PB, PE, PI and RN</span></td></tr></table></ix:continuation></div></ix:continuation><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-213</span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Table of </a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">Conten</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">t</a><a style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline" href="#i2ad619f032b2435680b3f6486d100018_7">s</a></span></div></div><div><ix:continuation id="iddd6678e759d4bcd8c1d0faa003b1d68"><ix:continuation id="iac825a10c47a4e289441d79f5f14d0e2"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:33.453%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.347%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sectors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GPLG -&#160;&#160;general plan of the licenses granted&#160;&#160;(geographic areas that correspond to the sectors)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - except towns included in sector 3</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - towns of&#160;&#160;Arapor&#227;, Ara&#250;jo, Campina Verde, Campo Florido, Campos Altos, Can&#225;lopis, Capin&#243;polis, Carmo do Parana&#237;ba, Carneirinhos, Centralina, Comendador Gomes, Concei&#231;&#227;o das Alagoas, C&#243;rrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhat&#227;, Ibiraci, Igaratinga, Iguatama, Indian&#243;polis, Ipia&#231;&#250;, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Par&#225; de Minas, Patos de Minas, Pedrin&#243;polis, Pequi, Perdig&#227;o, Pirajuba, Pitangui, Planura, Prata, Presidente Oleg&#225;rio, Rio Parana&#237;ba, Santa Juliana, Santa Vit&#243;ria, S&#227;o Francisco de Sales, S&#227;o Jos&#233; da Varginha, Tupaciguara, Uberaba, Uberl&#226;ndia, Uni&#227;o de Minas &amp; Vazante</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211;except&#160;&#160;towns included of sector 20</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211; towns of Londrina and Tamarana</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; except the town integrating of sector 22</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; town of Parana&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO and GO &#8211; except&#160;&#160;towns included in sector 25</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO &#8211; towns of Buriti Alegre, Cachoeira Dourada, Inaciol&#226;ndia, Itumbiara, Paranaiguara and S&#227;o Sim&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS &#8211; towns of Pelotas, Cap&#227;o do Le&#227;o, Morro Redondo and Turu&#231;u</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; except the towns included in sector 33</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">33</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; towns of Altin&#243;polis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, C&#225;ssia dos Coqueiros, Col&#244;mbia, Franca, Gua&#237;ra, Guar&#225;, Ipu&#227;, Ituverava, Jardin&#243;polis, Miguel&#243;polis, Morro Agudo, Nuporanga, Orl&#226;ndia, Ribeir&#227;o Corrente, Sales de Oliveira, Santa Cruz da Esperan&#231;a, Santo Ant&#244;nio da Alegria and S&#227;o Joaquim da Barra</span></td></tr></table></ix:continuation></ix:continuation></div><div><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">F-214</span></div></div></div></body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>exhibit11.htm
<DESCRIPTION>EX-1.1
<TEXT>
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<title>Document</title></head><body><div id="i534c1b46394f4c60aa98ab4aa7d17136_1"></div><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:48pt;font-weight:700;line-height:100%">Current</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:48pt;font-weight:700;line-height:100%">By-Laws</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:28pt;font-weight:700;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Summary</font></div><div style="padding-left:56.7pt;text-align:justify"><font><br></font></div><div style="padding-left:56.7pt;text-align:justify"><font><br></font></div><div style="padding-left:56.7pt;text-align:justify"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:24pt;font-weight:700;line-height:100%">Table of Contents by Article</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:24pt;font-weight:700;line-height:100%">Text of the By-Laws</font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:24pt;font-weight:700;line-height:100%">Table of Contents by Article</font></div><div><font><br></font></div><div><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">Title I  </font></div><div><img alt="image_6.jpg" src="image_6.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:508px"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">General Provisions</font></div><div><font><br></font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 1.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;     &#160;&#160;&#160;&#160;  Corporate Name</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 2.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Duration of the Company</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 3.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  Registered Office and Branches</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 4.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;         Corporate website of the Company </font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 5.- &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate Purpose</font></div><div style="padding-left:42.55pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">Title II </font></div><div><img alt="image_6.jpg" src="image_6.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:508px"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Share Capital and Shares</font></div><div style="padding-left:42.55pt"><font><br></font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 6.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      Share Capital</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 7.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;       Provisions Applicable to the Shares</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 8.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;   Pending disbursements</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 9.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        Rights Granted to the Shareholders</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 10.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      &#160;&#160;&#160;&#160;   Co-ownership of and </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:100%">in Rem </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Rights to Shares</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 11.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160; Acquisition by the Company of its Own Shares</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:177.2pt;padding-right:14.1pt;text-indent:-148.85pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 12.- &#160;&#160;&#160;&#160;Submission by the Shareholders to the By-Laws and to Corporate Resolutions</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:42.55pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">Title III </font></div><div><img alt="image_6.jpg" src="image_6.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:508px"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">The Company&#8217;s Decision-Making Bodies</font></div><div style="padding-left:42.55pt"><font><br></font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 13.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;         The Company&#8217;s Decision-Making Bodies</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font><br></font></div><div style="padding-left:28.35pt"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">SECTION ONE&#58;&#160;&#160;&#160;&#160;      </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">      GENERAL SHAREHOLDERS&#8217; MEETING</font></div><div style="padding-left:28.35pt"><font><br></font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 14.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      The General Shareholders&#8217; Meeting </font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:141.8pt;padding-right:21.2pt;text-indent:-113.45pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 15.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;    Powers of the Shareholders Acting at a General Shareholders&#8217; Meeting</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 16.-  &#160;&#160;&#160;&#160;     Ordinary and Extraordinary General Shareholders&#8217; Meeting</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 17.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;         Call to the General Shareholders&#8217; Meeting</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 18.-          Place and time of holding the General Shareholders&#8217; Meeting</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 19.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;    Right to Attend</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt;padding-right:7pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 20.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;     Right of representation</font></div><div style="padding-left:28.35pt;padding-right:7pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt;padding-right:7pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 21.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Remote Attendance by Electronic or Data Transmission</font></div><div style="padding-left:134.7pt;text-indent:7.1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> Means</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 22.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      Shareholders&#8217; Right to Receive Information</font></div><div style="padding-left:28.35pt"><img alt="image_24.jpg" src="image_24.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:460px"></div><div style="padding-left:124.35pt;text-indent:-96pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 23.- &#160;&#160;&#160;&#160;Presiding committee of the General Shareholders&#8217; Meeting  and Preparation of the Attendance Roll</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 24.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;           Deliberations and Voting</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:141.8pt;text-indent:-113.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 25.-&#160;&#160;&#160;&#160;Casting of Votes from a Distance prior to the General  Shareholders&#8217; Meeting</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 26.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;            Adoption of Resolutions</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:159.6pt;text-indent:-131.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 27.-     &#160;&#160;&#160;&#160;Minutes of the General Shareholders&#8217; Meeting and Documentation of Resolutions</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font><br></font></div><div style="padding-left:141.6pt;text-indent:-113.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">SECTION TWO&#58;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">BOARD-LEVEL ADMINISTRATION OF THE COMPANY</font></div><div style="padding-left:28.35pt"><font><br></font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 28.-&#160;&#160;&#160;&#160;        Structure of Board-Level Administration of the Company</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 29.-&#160;&#160;&#160;&#160;         Composition and Appointment of the Board of Directors</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 30.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;       Requirements for Appointment as Director</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 31.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Designation of Positions</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 32.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Coordinating Independent Director</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 33.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;        Conflict of Interest of the Directors</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 34.-&#160;&#160;&#160;&#160;  Meetings, Quorum and Adoption of Resolutions by the Board</font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  of Directors</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 35.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;       Compensation</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 36.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;   Representation of the Company</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 37.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;    &#160;&#160;&#160;&#160;             Powers of the Board of Directors</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 38.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;     Executive Commission</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 39.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;      Audit and Control Committee</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 40.- Nominating, Compensation and Corporate Governance Committee</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 41.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Chairman of the Board of Directors</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 42.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;     The General Secretary</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font><br></font></div><div style="padding-left:106.35pt;padding-right:14.1pt;text-align:justify;text-indent:-106.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">SECTION THREE&#58;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">REPORTS ON CORPORATE GOVERNANCE AND COMPENSATION</font></div><div style="padding-left:106.35pt;text-indent:-106.35pt"><font><br></font></div><div style="padding-left:106.35pt;text-indent:-106.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 43.- &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  Annual Corporate Governance Report</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 44.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;       Report on Directors&#8217; Compensation</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">Title IV </font></div><div><img alt="image_6.jpg" src="image_6.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:508px"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Annual Financial Statements, Profits and Dividends</font></div><div style="padding-left:28.35pt"><font><br></font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 45.-     Fiscal Year and Submission of the Annual Financial Statements</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 46.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;       Allocation of Profits&#47;Losses</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">Title V </font></div><div><img alt="image_6.jpg" src="image_6.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:508px"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Dissolution and Liquidation</font></div><div style="padding-left:28.35pt"><font><br></font></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 47.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Grounds for Dissolution</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:28.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Article 48.-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;       Liquidation of the Company</font></div><div style="padding-left:28.35pt"><img alt="image_20.jpg" src="image_20.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:470px"></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font><br></font></div><div style="padding-left:56.7pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:24pt;font-weight:700;line-height:100%">Text of the By-Laws</font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">BY-LAWS OF TELEFONICA, S.A.</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Title I</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">General Provisions</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 1.- &#160;&#160;&#160;&#160;Corporate name</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The Company is named &#34;Telef&#243;nica, S.A.&#34; and shall be governed by these By-Laws and, as to matters not otherwise contemplated or provided for herein, by the Companies Act (Ley de Sociedades de Capital) and other legal provisions applicable thereto.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 2.-&#160;&#160;&#160;&#160;Duration of the Company</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The duration of the Company shall be indefinite, its operations having commenced on the date of formalization of the notarial instrument of incorporation. It may only be dissolved upon the grounds and subject to the requirements set forth in Article 47 of these By-Laws.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 3.-&#160;&#160;&#160;&#160;Registered office and branches</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The registered office shall be located in Madrid, at Gran V&#237;a, 28, and the Board of Directors may resolve to relocate it within the municipal area of Madrid in compliance with any applicable legal provisions.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Board of Directors may also resolve to create, terminate or relocate any branches, agencies, delegation offices, local offices or establishments to the extent and in the location it deems fit, even outside of the national territory.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 4.-&#160;&#160;&#160;&#160;Corporate website of the Company</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The address of the Company's corporate website is www.telefonica.com.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Through the Company&#8217;s corporate website, the exercise of the shareholders' right to receive information shall be accommodated and the </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">significant information required by securities market legislation shall be disseminated.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Board of Directors may resolve to relocate the corporate website, and is also authorized to amend section one of this article and to register such amendment with the Commercial Registry. In any event, the resolution to relocate shall be posted on the relocated website for thirty days following the inclusion thereof.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 5.-&#160;&#160;&#160;&#160;Corporate purpose</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The purpose of the Company consists of&#58;</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">a)&#160;&#160;&#160;&#160;The provision and operation of all kinds of public or private telecommunications services and, for such purpose, the 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Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">c)&#160;&#160;&#160;&#160;The research and development, promotion and application of all kinds of component principles, equipment and systems directly or indirectly used for telecommunications.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">d)&#160;&#160;&#160;&#160;Manufacturing and production activities and, in general, all other forms of industrial activity in connection with telecommunications.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">e)&#160;&#160;&#160;&#160;Acquisition, disposition and, in general, all other forms of commercial activity in connection with telecommunications.</font></div><div 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Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 7.-&#160;&#160;&#160;&#160;Provisions applicable to the shares</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The shares are represented in book-entry form, and as book entries, they shall be governed by securities market regulations and other applicable provisions.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Modifications to features of shares represented in book-entry form shall be published in the legally established form.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Company shall acknowledge as shareholders such parties as appear entitled thereto as holders in the entries of the corresponding book-entry registries.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The Company may access at any time the necessary information to fully identify its shareholders, including addresses and means of contact to permit communication with them.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 8.-&#160;&#160;&#160;&#160;Pending disbursements</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;Where the shares have not been fully disbursed, this fact shall be recorded in the relevant entry.</font></div><div 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As for the manner and other aspects of the disbursement, regard shall be had to the provisions of the capital increase resolution, which may provide that disbursements be in the form of either monetary contributions or non-monetary contributions.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;In the case of arrears in the payment of pending disbursements, the delinquent shareholder shall be subject to the effects provided for under law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;In the event of a transfer of shares that have not been fully paid up, the transferee of any such shares and all prior transferors shall be jointly and severally liable.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 9.-&#160;&#160;&#160;&#160;Rights granted to the shareholders</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;All shares confer upon the rightful holders thereof the status of shareholder and vest such holders with the rights granted by law and by these By-Laws.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Subject to the provisions of law, and except in such cases as are set forth therein, a shareholder shall have at least the following rights&#58;</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">a)&#160;&#160;&#160;&#160;The right to share in the distribution of corporate profits and in the remaining assets upon liquidation.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">b)&#160;&#160;&#160;&#160;The right of pre-emptive subscription in the event of the issuance of new shares or of convertible debentures.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">c)&#160;&#160;&#160;&#160;The right to attend and vote at General Shareholders' Meetings under such terms as are set forth in these By-Laws and to challenge corporate resolutions.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">d)&#160;&#160;&#160;&#160;The right to receive information.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Notwithstanding the foregoing, the Company may issue non-voting shares under the conditions and subject to the limits and requirements established by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 10.-&#160;&#160;&#160;&#160;Co-ownership of and in rem rights to shares</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The shares are indivisible. Co-owners of a share must designate a single person for the exercise of shareholder rights, and shall be jointly and severally liable to the Company for all obligations arising from their status as shareholders. The same rule shall apply to other cases of co-ownership of rights to the shares.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;In the case of beneficial ownership of shares &#91;usufructo de acciones&#93;, shareholder status shall vest in the bare owner, but the beneficial owner shall be entitled, in all cases, to the dividends issued by the Company during the period of beneficial ownership.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;In the case of a pledge of shares, the exercise of shareholder rights shall belong to the owner thereof, and the pledgee shall have the duty to facilitate the exercise of such rights.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 11.-&#160;&#160;&#160;&#160;Acquisition by the Company of its own shares</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The Company may only acquire its own shares in the manner, with the funds and for the purposes established by law.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 12.-&#160;&#160;&#160;&#160;Submission by the shareholders to the By-Laws and to corporate resolutions</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Ownership of one or more shares entails acceptance of and absolute compliance with the Company's By-Laws and Regulations, and submission to the legally adopted resolutions of the Company&#8217;s shareholder- and board-level decision-making bodies.</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Title III</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">The Company's Decision-Making Bodies</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 13.-&#160;&#160;&#160;&#160;The Company&#8217;s decision-making bodies</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The Company shall be governed and managed by the following bodies, under such terms and conditions as are set forth below in these By-Laws&#58;</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">a)&#160;&#160;&#160;&#160;The General Shareholders' Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">b)&#160;&#160;&#160;&#160;The Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">c)&#160;&#160;&#160;&#160;The Executive Commission.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">d)&#160;&#160;&#160;&#160;The Chairman &#91;Presidente&#93; of the Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">e)&#160;&#160;&#160;&#160;The Chief Executive Officer(s) &#91;Consejero&#47;s Delegado&#47;s&#93;, if any, that have been appointed by the Board of Directors from among its members.</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Section One</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">General Shareholders' Meeting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 14.-&#160;&#160;&#160;&#160;The General Shareholders' Meeting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The shareholders acting at a General Shareholders' Meeting constitute the highest deliberative body through which the corporate will is expressed.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The shareholders, meeting at a General Shareholders' Meeting that has been legally and validly convened, shall decide by majority vote on the matters that may properly come before them.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;All shareholders, including dissenting shareholders and those who have not participated in the meeting, shall be bound by the resolutions adopted at a General Shareholders' Meeting, without prejudice to the right of any shareholder to challenge such resolutions in the cases and subject to the requirements established by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 15.-&#160;&#160;&#160;&#160;Powers of the Shareholders acting at a General Shareholders' Meeting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The shareholders acting at a General Shareholders' Meeting shall decide on the matters assigned thereto by law or these By-Laws and, in particular, regarding the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1) &#160;&#160;&#160;&#160;Approval of the annual financial statements, the allocation of profits&#47;losses, and corporate management.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2) &#160;&#160;&#160;&#160;Appointment, re-appointment and removal of Directors, and ratification of Directors appointed by co-optation.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3) &#160;&#160;&#160;&#160;Appointment, re-appointment and removal of Auditors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4) &#160;&#160;&#160;&#160;Appointment and removal of Liquidators.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">5)&#160;&#160;&#160;&#160;Commencement of corporate claims for liability against any of the persons referred to in numbers 2) to 4) of this article.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">6)&#160;&#160;&#160;&#160;Amendment of the By-Laws.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">7)&#160;&#160;&#160;&#160;Increase and reduction of share capital, and delegation to the Board of Directors of the power to increase share capital, in which case it may also be </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">attributed the power to disapply or establish restrictions upon pre-emptive rights, as established by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">8)&#160;&#160;&#160;&#160;Elimination of or establishment of restrictions upon pre-emptive rights.</font></div><div 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style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">12) &#160;&#160;&#160;&#160;The transformation of the Company into a holding company through &#8220;subsidiarization&#8221; or by entrusting subsidiaries with the conduct of core activities theretofore carried out by the Company itself.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">13) &#160;&#160;&#160;&#160;The acquisition, disposition or contribution of essential operating assets from or to another company. For purposes of this section and the preceding section, an asset or activity shall be deemed to be essential when the amount of the transaction exceeds twenty-five (25%) percent of the value of the assets recorded in the last approved balance sheet.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">14) &#160;&#160;&#160;&#160;Transactions the effect of which is tantamount to liquidating the Company.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">15) &#160;&#160;&#160;&#160;The approval of the final balance sheet upon liquidation.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">16) &#160;&#160;&#160;&#160;Releasing the Directors from the legal prohibitions relating to conflicts of interest when law necessarily attributes this competence to the General Shareholder&#8217;s Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">17) &#160;&#160;&#160;&#160;The Director compensation policy.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">18) &#160;&#160;&#160;&#160;Any other matter that the Board of Directors resolves to submit to a decision thereof, in compliance with the applicable laws and regulations.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 16.-&#160;&#160;&#160;&#160;Ordinary and Extraordinary General Shareholders' Meeting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The shareholders acting at an Ordinary General Shareholders' Meeting, which shall have previously been called for such purpose, shall meet within the first six months of each fiscal year in order, if appropriate, to approve corporate management, the financial statements for the prior fiscal year and decide on the allocation of profits&#47;losses. Resolutions may also be adopted regarding any other matter properly coming before them, provided that such matter appears on the Agenda or is legally applicable, and a quorum for the General Shareholders&#8217; Meeting has been established with the presence of the required share capital.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Ordinary General Shareholders&#8217; Meeting shall be valid even if it has been called or is held beyond the applicable deadline.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Any General Shareholders&#8217; Meeting other than as provided for in the preceding paragraph shall be deemed an extraordinary General Shareholders&#8217; Meeting and shall be held at any time of the year, provided that the Board of Directors deems it appropriate or when so requested in writing by the holders of at least 3% of the share capital, which request shall set forth the matters to be dealt with. In this instance, the General Shareholders&#8217; Meeting shall be called to be held within the period legally provided for. The Board of Directors shall prepare the Agenda, in which it shall include at least the matters set forth in the request. </font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;All General Shareholders&#8217; Meetings, whether Ordinary or Extraordinary, which have been duly called, shall be validly constituted with the minimum quorum required by law, taking into account the matters included in the Agenda.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 17.-&#160;&#160;&#160;&#160;Call and form of the General Shareholders' Meeting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The General Shareholders&#8217; Meeting shall be called with the minimum advance notice required by law, through a notice published, at least&#58;</font></div><div style="margin-bottom:12pt;padding-left:70.9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">a)&#160;&#160;&#160;&#160;In the Official Bulletin of the Commercial Registry or in one of the more widely circulated newspapers in Spain.</font></div><div style="margin-bottom:12pt;padding-left:70.9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">b)&#160;&#160;&#160;&#160;On the website of the National Securities Market Commission.</font></div><div style="margin-bottom:12pt;padding-left:70.9pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">c)&#160;&#160;&#160;&#160;On the Company&#8217;s corporate website.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The notice published on the Company's corporate website shall be continuously accessible at least until the date of the General Shareholders&#8217; Meeting. The Board of Directors may also publish notices in other media, if it deems it appropriate to ensure the public and effective dissemination of the call to meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The call notice shall contain all the statements required by law in each case and, in any event, shall set forth the date and time of the meeting upon first call and all the matters to be dealt with thereat, as well as the form of the meeting and, where appropriate, the place of the meeting. The notice may also set forth the date on which the General Shareholders&#8217; Meeting shall, if applicable, be held upon second call.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The General Shareholders&#8217; Meeting may be held (a) in person only, (b) in person with the possibility of remote attendance, by electronic or telematic means, or, (c) when permitted by law and for reasons that make it advisable, and under the conditions provided in the law, exclusively by telematic means.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;Except in the cases provided by law, General Shareholders&#8217; Meetings may not deliberate on or discuss matters that are not included in the Agenda.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">5.&#160;&#160;&#160;&#160;At Ordinary General Shareholders&#8217; Meetings, shareholders representing at least 3% of the share capital may request the publication of a supplement to the call including one or more items in the Agenda, so long as such new items are accompanied by a rationale or, if applicable, by a well-founded proposal for a resolution.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">6.&#160;&#160;&#160;&#160;In addition, shareholders representing at least 3% of the share capital may submit well-founded proposals for resolutions regarding items already included or that must be included in the Agenda for the General Shareholders&#8217; Meeting called.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">7.&#160;&#160;&#160;&#160;The rights provided for in the two preceding paragraphs must be exercised by means of duly authenticated notice that must be received at the Company's registered office within five days of the publication of the call to meeting. The supplement to the call to meeting and the proposals for resolutions must be published or disseminated in compliance with the legal requirements and advance notice provided by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 18.- &#160;&#160;&#160;&#160;Place and time of holding the General Shareholders' Meeting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The General Shareholders' Meeting shall be held, where appropriate, at the place set forth in the notice of the call to meeting, within the area where the Company has its registered office, on the date and at the time also set forth in such notice. </font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The General Shareholders&#8217; Meeting held exclusively through telematic means shall be deemed to have been held at the registered office.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The shareholders at the General Shareholders&#8217; Meeting may, whenever there is good reason, resolve to extend the General Shareholders&#8217; Meeting for one or more consecutive days, at the proposal of the Chairman of the General Shareholders&#8217; Meeting or of shareholders representing at least a quarter of the share capital attending. Regardless of the number of sessions, it shall be deemed </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">that the General Shareholders&#8217; Meeting is one single meeting, and a single set of Minutes shall be drawn up for all of the sessions.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The General Shareholders&#8217; Meeting may also be temporarily adjourned in the cases and manner provided for in the Regulations for the General Shareholders' Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 19.-&#160;&#160;&#160;&#160;Right to attend</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The right to attend General Shareholders' Meetings shall accrue to the holders of at least 300 shares, provided that such shares are registered in their name in the corresponding book-entry registry five days in advance of the date on which the General Shareholders' Meeting is to be held, and provided also that they present evidence thereof with the appropriate attendance card or certificate issued by any of the entities participating in the institution that manages such book-entry registry or in any other manner permitted by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Holders of a lesser number of shares may grant a proxy in respect thereof to a shareholder having the right to attend, as well as group together with other shareholders in the same situation until reaching the required number of shares, following which a proxy must be granted by the shareholders so grouped together to one of such shareholders. The grouping must be carried out specifically for each General Shareholders&#8217; Meeting and be recorded in writing.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Directors must attend General Shareholders&#8217; Meetings, except when unable to do so upon duly justified grounds. Non-attendance by any of them shall not affect the valid constitution of the General Shareholders&#8217; Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The General Shareholders&#8217; Meeting may also be attended by senior executive officers, technicians, experts and such other persons as may have a relationship with the Company in the opinion of the Chairman of the General Shareholders&#8217; Meeting. The Chairman of the General Shareholders&#8217; Meeting may also authorize the attendance of any other person that he sees fit, including </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">media, analysts, etc., although the General Shareholders&#8217; Meeting may revoke such authority.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 20.-&#160;&#160;&#160;&#160;Right of representation</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;Every shareholder having the right to attend may be represented at the General Shareholders' Meeting by any other person, even if not a shareholder. For such purpose, the shareholder being represented shall comply with the requirements and formalities established under law. The proxy shall be granted in writing or electronically.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The Chairman of and the Secretary for the General Shareholders' Meeting shall have the widest powers allowed by law to recognize the validity of the document evidencing proxy representation&#59; they shall only deem invalid those documents that lack the minimum indispensable requirements, and so long as the lack thereof cannot be cured.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;A proxy shall be granted specifically for each General Shareholders&#8217; Meeting, unless the proxy-holder is the granting shareholder&#8217;s spouse, ascendant or descendant, or holds a general power of attorney granted in a public instrument with powers to manage all of the assets held by the shareholder granting the proxy in Spain.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;A proxy is always revocable. Casting the vote remotely and attendance at the General Shareholders&#8217; Meeting by the shareholder granting the proxy entails the revocation of any proxy, whatever the date thereof. A proxy shall likewise be rendered void as a result of the disposition of shares of which the Company has notice.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Without prejudice to the provisions of Section 187 of the Companies Act, a proxy must be granted pursuant to the provisions of Section 184.2 of such Act.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;When a proxy is granted by means of long-distance communication, it shall only be deemed valid if it is carried out by postal delivery or correspondence or by electronic communication effected pursuant to the provisions of this section. Proxies granted by telephone in accordance with the procedure, where applicable, set forth in the call notice shall be deemed to have been granted by electronic communication.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">A proxy shall be granted by postal delivery or correspondence by sending or delivering to the Company the duly completed and signed attendance and proxy-granting card or other written instrument that, in the opinion of the Board of Directors expressed in a resolution adopted for such purpose, allows for due verification of the identity of the shareholder granting the proxy and that of the proxy-holder designated therein.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">A proxy shall be granted by electronic communication with the Company by using an electronic signature or such other means as the Board of Directors deems adequate to guarantee the authenticity and identity of the shareholder exercising his right, and, where granted by electronic means, accompanied by an electronic copy of the duly completed attendance and proxy-granting card.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">5.&#160;&#160;&#160;&#160;In order to be valid, a proxy granted by either of the aforementioned means of long-distance communication must be received by the Company before midnight on the third day prior to the date set for the holding of the General Shareholders&#8217; Meeting upon first call. In the resolution providing for the call to the General Shareholders&#8217; Meeting in question, the Board of Directors may reduce such advance period and publish any such reduction in the same manner as the notice of the call to meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">6.&#160;&#160;&#160;&#160;Furthermore, the Board of Directors may elaborate upon the foregoing provisions governing proxy-granting by means of long-distance communication, in accordance with the provisions of paragraph 5 of Article 25 below.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">7.&#160;&#160;&#160;&#160;A proxy may include items that, even if not contained in the Agenda, may be dealt with by the shareholders at the General Shareholders' Meeting because it is so permitted by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 21.-&#160;&#160;&#160;&#160;Remote attendance by electronic or data transmission means</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;When the meeting is held in person with the possibility of remote attendance, either through electronic or telematic means, or, when permitted by law, exclusively through telematic means, remote attendance at the General Shareholders&#8217; 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Meeting and during the period required by law, any shareholder may submit a written request for such information or clarifications as it deems are required, or ask written questions it deems are pertinent, regarding the matters included in the call Agenda, or regarding information accessible to the public that the Company has provided to the National Securities Market Commission since the holding of </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">the immediately prior General Shareholders&#8217; Meeting and regarding the auditor&#8217;s report.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;During the course of the General Shareholders&#8217; Meeting, the shareholders may request such information or clarifications as they deem appropriate regarding the matters contained in the Agenda, or regarding the information accessible to the public that the Company has provided to the National Securities Market Commission since the holding of the last General Shareholders&#8217; Meeting, or regarding the auditor&#8217;s report.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Board of Directors must provide the information requested pursuant to the two preceding paragraphs, in the manner and by the deadlines provided by law, except in those cases in which it is legally inadmissible and, in particular, when such information is unnecessary for the protection of shareholder rights, there are objective reasons to believe that it might be used for ultra vires purposes, or publication thereof may prejudice the Company or related companies. The information may not be withheld when the request is supported by shareholders representing at least one-fourth of the share capital. </font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Valid requests for information or clarifications submitted or questions asked in writing by the shareholders, as well as the answers provided in writing by the Directors, shall be posted on the Company&#8217;s website.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">If the information requested by the shareholders has been clearly, expressly and directly made available to all shareholders in question &#38; answer format on the Company&#8217;s corporate website, the Board of Directors&#8217; may limit its response to a reference to the information provided in such format.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;In the case of the Ordinary General Shareholders' Meeting and in the other cases established by law, the call notice shall make the appropriate references regarding the right to examine at the registered office and obtain, immediately and without charge, the documents that are to be submitted to the </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">General Shareholders' Meeting for approval and, if appropriate, such report or reports as may be determined by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 23.-&#160;&#160;&#160;&#160;Presiding committee of the General Shareholders&#8217; Meeting and preparation of the attendance roll</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Chairman of the Board of Directors or, in the absence thereof, a Vice Chairman of such Board of Directors, in such order as is applicable in the event that there are several of them, shall chair the General Shareholders' Meeting&#59; in the event of vacancy, absence or sickness, they shall be replaced by the longest-serving Director, and in case of equal length of service, by the oldest. The Secretary of the Board of Directors or, in the absence thereof, a Deputy Secretary, in such order as is applicable in the event that there are several of them, shall act as Secretary for the General Shareholders&#8217; Meeting, and in the absence of both, shall be held by the Director with the least amount of time as such, and in case of equal length of service, by the youngest.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The presiding committee &#91;mesa&#93; of the General Shareholders' Meeting shall be composed of the Chairman of the General Shareholders&#8217; Meeting, the Secretary for the General Shareholders' Meeting and the members of the Board of Directors who attend the meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Once the presiding committee has been formed, and prior to beginning with the Agenda, an attendance roll shall be prepared by the Secretary for the General Shareholders&#8217; Meeting which sets forth the nature or representation of each attendee and the number of their own or other shareholders' shares present. At the end of the roll, there shall be a determination of the number of shareholders present in person -separately including those who voted from a distance - or by proxy, as well as the amount of capital they own, specifying the capital held by shareholders with the right to vote. If the attendance roll does not appear at the beginning of the Minutes of the General Shareholders' Meeting, it shall be attached thereto as an annex signed by the Secretary for the General </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Shareholders&#8217; Meeting with the approval of its Chairman. The attendance roll may also be made up of an index file or be prepared in electronic form. In such cases, the medium used shall be set forth in the Minutes themselves, and the sealed cover of the index file or electronic medium shall show the appropriate identification procedure signed by the Secretary for the General Shareholders&#8217; Meeting with the approval of its Chairman.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;Once the attendance roll has been prepared, the Chairman of the General Shareholders&#8217; Meeting shall state whether or not the requirements for its valid constitution have been met. Any questions or claims arising with respect to these matters shall be resolved by the Secretary for the General Shareholders&#8217; Meeting. Immediately thereafter, if appropriate, the Chairman shall declare the General Shareholders&#8217; Meeting to be validly convened.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 24.-&#160;&#160;&#160;&#160;Deliberations and voting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Chairman of the General Shareholders&#8217; Meeting shall&#58; direct the meeting such that deliberations are carried out pursuant to the Agenda and shall resolve any questions that may arise in connection with the contents thereof&#59; organize the interventions, grant the floor at the time he deems fit, where appropriate, to the shareholders who request it, with the power to take the floor away when he deems that a matter has been sufficiently debated, or that the progress of the meeting is being hindered, or that the matter in question is not included in the Agenda&#59; indicate the time for voting on the resolutions and announce the results of the vote.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Proposed resolutions shall be voted in accordance with the voting calculation system established in the Regulations for the General Shareholders' Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 25.-&#160;&#160;&#160;&#160;Casting of votes from a distance prior to the General Shareholders&#8217; Meeting</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;Without prejudice to the provisions of Article 21, and therefore, independently of the possibility of attendance by telematic or electronic means, shareholders with the right to attend may cast their vote on the proposals relating to the items included in the Agenda for any General Shareholders' Meeting by postal delivery or correspondence or by electronic communication. Votes cast by telephone in accordance with the procedure, where applicable, set forth in the call notice shall be deemed to have been cast by electronic communication.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Votes by postal delivery or correspondence shall be cast by sending or delivering to the Company a writing in which the vote is recorded, accompanied by the duly signed attendance card issued by the entity in charge of the book-entry registry.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Votes by electronic communication with the Company shall be cast by using an electronic signature or such other means as the Board of Directors deems adequate to guarantee the authenticity, and, if cast through electronic means, accompanied by an electronic copy of the duly completed attendance and voting card.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;In order to be deemed valid, votes cast by any of the means of long-distance communication mentioned in the preceding paragraphs must be received by the Company before midnight on the third day prior to the date set for the holding of the General Shareholders&#8217; Meeting upon first call. In the resolution providing for the call to the General Shareholders&#8217; Meeting in question, the Board of Directors may reduce such advance period and publish any such reduction in the same manner as the notice of the call to meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">5.&#160;&#160;&#160;&#160;The Board of Directors may elaborate on and supplement the distance voting and proxy-granting provisions set forth in these By-Laws and in the </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Regulations for the General Shareholders' Meeting of the Company by establishing such instructions, means, rules and procedures as it deems advisable in order to organize the casting of votes and the grant of proxies by means of long-distance communication.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">In any event, the Board of Directors shall adopt the measures needed to avoid possible deception and to ensure that the person casting a vote or granting a proxy by postal or electronic communication has the right to do so pursuant to the provisions of Article 19 of the By-Laws. The implementing rules adopted by the Board of Directors under the provisions of this sub-section shall be published on the Company's corporate website.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">6.&#160;&#160;&#160;&#160;Shareholders who cast their vote from a distance pursuant to this article and to the provisions made by the Board of Directors by way of further development thereof shall be deemed present for purposes of determining the establishment of a quorum for the General Shareholders' Meeting in question. Therefore, proxies granted prior to the casting of such vote shall be deemed revoked, and those granted thereafter shall be deemed not to have been given.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">7.&#160;&#160;&#160;&#160;The vote cast by means of long-distance communication shall be rendered void by the attendance at the meeting of the shareholder casting the vote or by the disposition of shares of which the Company has notice.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 26.-&#160;&#160;&#160;&#160;Adoption of resolutions</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The shareholders acting at a General Shareholders' Meeting shall adopt their resolutions with the majorities of votes required by law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Each share whose holder is present at the General Shareholders' Meeting in person or by proxy shall give the right to one vote, except in the case of non-voting shares, subject to the provisions of law.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Notwithstanding the provisions of the preceding section, no shareholder may cast a number of votes in excess of 10% of the total voting capital existing at any time, regardless of the number of shares held by such shareholder, all fully subject to the mandatory provisions of the law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">&#160;&#160;&#160;&#160;In determining the maximum number of votes that each shareholder may cast, only the shares held by the shareholder in question shall be computed, and those held by other shareholders that have granted their proxy to the first-mentioned shareholder shall not be computed, without prejudice to the application of the aforementioned limit of 10% to each of the shareholders that have granted a proxy.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The limitation established in this section shall also apply to the maximum number of votes that may be collectively or individually cast by two or more shareholder companies belonging to the same group of entities, as well as to the maximum number of votes that may be cast by an individual or corporate shareholder and the entity or entities that are shareholders themselves and which are directly or indirectly controlled by such individual or corporate shareholder.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">For purposes of the provisions contained in the preceding paragraph, the provisions of Section 18 of the Companies Act shall apply in order to decide whether or not a group of entities exists and to examine the situations of control indicated above.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Notwithstanding the limitation established in this section, all shares present at the General Shareholders&#8217; Meeting shall be computed for purposes of determining the existence of a quorum in constituting it, provided, however, that the 10% limit on the number of votes shall apply to such shares at the time of voting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 27.-&#160;&#160;&#160;&#160;Minutes of the General Shareholders&#8217; Meeting and documentation of resolutions</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The deliberations and resolutions adopted by the shareholders at the General Shareholders' Meeting shall be recorded in Minutes containing at least all of the information required by law. Once the Minutes have been approved in the manner provided by law, they shall be written down or transcribed in the Minute Book and shall be signed by the Secretary, with the approval of the Chairman, or by the persons who have acted as such at the General Shareholders&#8217; Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Minutes approved by any of the means provided for by law shall have binding force starting on the date of approval thereof.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The total or partial certificates that may be required as evidence of the resolutions approved at the General Shareholders' Meeting shall be issued and signed by the Secretary of the Board of Directors or, as the case may be, by one of its Deputy Secretaries, with the approval of the Chairman of the Board of Directors or, as the case may be, by one of its Vice Chairmen.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The Directors may require that a Notary participates at the General Shareholders&#8217; Meeting and prepare the minutes thereof, and shall have a duty to do so when it is so requested by shareholders representing at least 1% of the share capital, five days in advance of the date set for the General Shareholders&#8217; Meeting. Notarial fees shall be borne by the Company. The notarized Minutes shall be deemed to be the Minutes of the General Shareholders&#8217; Meeting, shall not require the formality of approval, and shall have binding force as from the date of the closing thereof.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Where the General Shareholders&#8217; Meeting is to be held exclusively through telematic means, the Notary may attend remotely, using the real-time long-</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">distance communication systems that adequately ensure the exercise of the notarial duties.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">5.&#160;&#160;&#160;&#160;Any shareholder may obtain, at any time, certification of the resolutions and the Minutes of the General Shareholders' Meetings.</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Section two</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Board-level administration of the Company</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 28.-&#160;&#160;&#160;&#160;Structure of board-level administration of the Company</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The board-level administration of the Company is vested in the Board of Directors, the Chairman thereof, the Executive Commission, and one or more Chief Executive Officers, if any.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Each of these bodies shall have the powers set forth in these By-Laws and in the Regulations of the Board of Directors, without prejudice to the provisions of the law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 29.-&#160;&#160;&#160;&#160;Composition and appointment of the Board of Directors</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Board of Directors shall be composed of a minimum of five members and a maximum of twenty, to be appointed at the General Shareholders&#8217; Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Directors shall serve in their position for a maximum period of four years. They may be re-elected one or more times to terms of the same maximum duration.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Board of Directors shall have the power to fill, on an interim basis, any vacancies that may occur therein, by appointing, in such manner as is legally allowed, the persons who are to fill such vacancies until the holding of the next General Shareholders&#8217; Meeting.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 30.-&#160;&#160;&#160;&#160;Requirements for appointment as Director</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;No person may be appointed as Director unless they have held, for more than three years prior to their appointment, a number of shares of the Company representing a nominal value of at least 3,000 euros, and non-transferable while in office.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;These requirements shall not apply to those persons who, at the time of their appointment, are related to the Company under an employment or professional relationship, or when the Board of Directors resolves to waive such requirements with the favorable vote of at least 85% of its members.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The position of Director of the Company may only be held by persons of legal age who are not affected by any of the prohibitions or circumstances of incompatibility provided for in the law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 31.-&#160;&#160;&#160;&#160;Designation of positions</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Board of Directors shall elect from among its members a Chairman and one or more Vice Chairmen, who shall replace the Chairman by delegation of powers or in the event of absence or sickness thereof and, in general, in all such cases, in the performance of such duties or in the exercise of such powers as the Board of Directors or the Chairman deems fit.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Board of Directors may delegate such duties as it deems appropriate to one or more Directors pursuant to the law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Furthermore, the Board of Directors shall elect the persons who are to hold such management positions in the Company as it deems necessary for the operation thereof, as well as a Secretary and as many Deputy Secretaries as it deems are needed.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;In order for a Director to be appointed Chairman, Vice Chairman, Chief Executive Officer or member of the Executive Commission, it shall be necessary </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">for such Director to have served on the Board for at least three years immediately prior to any such appointment. However, such length of service shall not be required if the appointment is made with the favorable vote of at least 85% of the members of the Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 32.-&#160;&#160;&#160;&#160;The Coordinating Independent Director</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The Board of Directors at the proposal of the Nominating, Compensation and Corporate Governance Committee, shall appoint one of the Independent Directors as &#8220;Coordinating Independent Director&#8221; (i.e. &#8220;Lead Director&#8221;), who shall discharge the following duties and tasks&#58;</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">a)&#160;&#160;&#160;&#160;Coordinate the work of the External Directors that the Company has appointed, in defense of the interests of all the shareholders of the Company, and echo the concerns of such Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">b)&#160;&#160;&#160;&#160;Request the Chairman of the Board of Directors to call meetings of the Board where appropriate in accordance with the rules of corporate governance.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">c)&#160;&#160;&#160;&#160;Request, consequently, the inclusion of certain matters in the agenda of the meetings of the Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">d)&#160;&#160;&#160;&#160;Oversee the evaluation by the Board of Directors of the Chairman thereof.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 33.-&#160;&#160;&#160;&#160;Conflict of interest of the Directors</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Directors shall notify the Board of Directors of any situation of direct or indirect conflict with the interest of the Company that may affect them. The Director involved shall abstain from voting on resolutions or decisions relating to the transaction affected by the conflict. Conflict of interest situations shall be included in the annual report.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Directors may not carry out, on their own behalf or on behalf of others, activities that may entail effective competition with the Company or that may otherwise place them in a situation of permanent conflict of interest therewith, except with express authorization by means of a resolution of the shareholders at a General Shareholders&#8217; Meeting. The following shall not be deemed to be in a situation of effective competition with the Company&#58; (i) companies controlled by the Company (within the meaning of Article 42 of the Commercial Code) and (ii) companies with which the Company maintains a strategic alliance, even if they have the same or a similar or complementary corporate purpose. Neither shall proprietary Directors of competitor companies appointed at the request of the Company or as a result of the equity interest held by the Company in such competitor companies be deemed to be in breach of the prohibition on competition.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 34.-&#160;&#160;&#160;&#160;Meetings, quorum and adoption of resolutions by the Board of Directors</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Board of Directors shall regularly meet once a month, following a call to meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Board of Directors shall meet at the principal office or at the place or places designated by the Chairman.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Board of Directors shall hold extraordinary meetings when so resolved by the Chairman or the person who serves as such. The Chairman shall be required to call a meeting of the Board of Directors when so requested by at least three Directors. A meeting of the Board of Directors may also be called by at least one-third of the members thereof, who shall set forth the agenda for the meeting, if a prior request to that effect has been submitted to the Chairman and the latter has failed, without good reason, to call a meeting within a term of one month.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;All Directors who are absent may grant a proxy in writing to another Director who is in attendance, with the right to speak and to vote, at the meeting or session to which the proxy refers. The Director granting the proxy shall endeavor, to the extent possible, to include voting instructions in the proxy document.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">5.&#160;&#160;&#160;&#160;A meeting of the Board of Directors may be held in several rooms simultaneously so long as real-time interactivity or intercommunication among them is ensured by audiovisual means or by telephone, such that the unity of the act is also ensured.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">6.&#160;&#160;&#160;&#160;The Board of Directors shall endeavor, to the extent possible, that absences from its meetings are kept to an absolute minimum. In the event that any of the Directors whose usual place of residence is in Madrid fails to attend four consecutive meetings without providing sufficient reasons for his absence, the Board of Directors shall have the power to declare his removal from office and to appoint the person that will replace him on an interim basis until such appointment is submitted for ratification by the shareholders at the next General Shareholders' Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">7.&#160;&#160;&#160;&#160;In order for resolutions of the Board of Directors to be valid, more than one-half of its members in office must be in attendance, in person or by proxy.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">8.&#160;&#160;&#160;&#160;Resolutions shall in all cases be adopted by an absolute majority of votes cast by the Directors present at the meeting in person or by proxy, except in those instances in which the law requires the favorable vote of a greater number of Directors for the validity of specific resolutions.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">9.&#160;&#160;&#160;&#160;Voting in writing and without a meeting shall be admitted when no Director opposes the use of this procedure.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">10.&#160;&#160;&#160;&#160;The deliberations and resolutions of the Board of Directors shall be recorded in minutes signed by the Secretary and approved by the Chairman or by </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">the persons who have acted as such at the meeting in question. The minutes shall be written down or transcribed in a Minute Book, which may be kept separately from the Minute Book used for the General Shareholders' Meeting. In the event of voting in writing and without a meeting, the resolutions adopted and the votes cast in writing shall also be recorded in the Minute Book.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 35.-&#160;&#160;&#160;&#160;Compensation</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The compensation of Directors in their capacity as such, i.e., as members of the Board of Directors and for the performance of the duty of supervision and collective decision-making inherent in such body, shall consist of a fixed and specific monthly remuneration and of fees for attending meetings of the Board of Directors and the executive and advisory Committees thereof. The compensation amount that the Company may annually pay to all of its Directors as remuneration and attendance fees shall be fixed by the shareholders at the General Shareholders' Meeting, which amount shall remain unchanged until and unless the shareholders decide to modify it. The Board of Directors shall determine the exact amount to be paid within such limit and the distribution thereof among the Directors, taking into account the duties and responsibilities assigned to each Director, their membership on Committees within the Board of Directors and other objective circumstances that it deems relevant. </font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;In addition, independently of the compensation established in the preceding paragraph, provision is hereby made for the establishment of Director compensation systems that are linked to the listing price of the shares or that entail the delivery of shares or of stock options. The application of such compensation systems must be approved by the shareholders at the General Shareholders&#8217; Meeting, who shall determine the value of the shares to be taken as a reference, the number of shares to be delivered to each Director, the exercise price of stock options, the duration of such compensation system and other conditions they deem appropriate. </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Executive Directors shall receive such compensation as the Board determines for the performance of executive duties delegated or entrusted to them by the Board of Directors. Such compensation shall conform to the Director compensation policy approved by the shareholders at the General Shareholders&#8217; Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The Director compensation policy shall be set in what corresponds to the compensation system provided for in this article and shall be approved by the General Shareholders&#8217; Meeting at least once every three years as a separate item from the agenda.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 36.-&#160;&#160;&#160;&#160;Representation of the Company</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;Representation of the Company both in and out of court shall be the purview of the Board of Directors, its Chairman, the Executive Commission, and the Chief Executive Officers.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Board of Directors and the Executive Commission shall have the power to represent the Company by acting collectively. The resolutions of the Board of Directors or of the Executive Commission shall be carried out by its Chairman, the Vice Chairman, the Director, if any, designated in the resolution, or the Secretary, any of whom may act individually.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Chairman of the Board of Directors and the Chief Executive Officers shall have the power to represent the Company by acting individually.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 37.-&#160;&#160;&#160;&#160;Powers of the Board of Directors</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;Pursuant to the provisions of law and these By-Laws, the Board of Directors is the highest body entrusted with the administration and representation of the Company, and therefore has the power to carry out, within the scope of the corporate purpose defined in these By-Laws, any acts or legal transactions by way of administration or disposition, upon any legal title, except for those which </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">fall within the scope of the powers exclusively granted by law or these By-Laws to the General Shareholders&#8217; Meeting.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Board of Directors sitting as a full body shall approve the matters provided for under the applicable legislation.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;If there are urgent and duly justified circumstances, and if so permitted by law, the Executive Commission may adopt decisions on matters reserved to the Board of Directors, provided, however, that they must be ratified at the first meeting held by the Board after they have been adopted.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 38.-&#160;&#160;&#160;&#160;Executive Commission</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Board of Directors may, subject to applicable legal provisions, delegate its powers and authority to an Executive Commission, consisting of between three and ten Directors, which shall be created or dissolved at the pleasure of the Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Once appointed, the Executive Commission shall establish regulations to govern its activities and shall meet on the dates and under the conditions that the Executive Commission itself determines. The Chairman and Vice Chairmen, if any, and the Secretary and Deputy Secretaries, if any, of the Executive Commission shall be the persons who serve as such on the Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Any vacancies that occur within the Executive Commission shall be filled on a final basis by the Board of Directors and on an interim basis by the Executive Commission itself until the Board of Directors holds a valid meeting under these By-Laws.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The provisions set forth with respect to the Board of Directors from paragraphs 4 to 10, both inclusive, of Article 34 of these By-Laws shall likewise apply, to the extent appropriate, to the Executive Commission.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 39.-&#160;&#160;&#160;&#160;Audit and Control Committee</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;An Audit and Control Committee shall be created within the Board of Directors, which shall be composed of such number of Directors as may be determined by the Board of Directors from time to time, although in no case may there be fewer than three Directors, to be appointed by the Board of Directors. All of the members of such Committee shall be external or non-executive Directors. At least two of them must be independent Directors, and one of them shall be appointed taking into account such Director&#8217;s knowledge and experience in accounting, auditing or both. </font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Chairman of the Audit and Control Committee, which position shall be held by an independent Director in all cases, shall be appointed by the Committee itself from among its members and shall hold office for four years, and may be re-elected after the passage of one year from ceasing to act as such.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Audit and Control Committee shall have the following duties, at a minimum&#58;</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(i) To report to the shareholders at the General Shareholders&#8217; Meeting regarding matters raised therein in connection with the matters for which it is responsible.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(ii) To submit to the Board of Directors the proposals for selection, appointment, re-election and replacement of the external auditor, as well as the terms and conditions of the contract therewith, and regularly obtain from such external auditor information regarding the audit plan and the implementation thereof, in addition to preserving its independence in the performance of its duties.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(iii) To supervise the effectiveness of the Company&#8217;s internal control system, the internal audit and the systems for management of risks, including tax risks, as well as to discuss with the Auditor the significant weaknesses in the internal control system detected during the audit.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(iv)To supervise the process of preparation and submission of regulated financial information.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(v) To establish and maintain appropriate relations with the Auditor in order to receive, for review by the Committee, information on all matters that could jeopardize the independence thereof, as well as any other matters relating to the audit procedure, and such other communications as may be provided for in auditing legislation and in technical auditing regulations. In any event, the Audit and Control Committee must receive annually written confirmation from the Auditor of its independence vis-&#225;-vis the entity or entities directly or indirectly related thereto, as well as information regarding additional services of any kind provided to such entities by the Auditor, or by the persons or entities related thereto, pursuant to the legislation in force.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(vi)To issue on an annual basis, prior to the issuance of the audit report, a report stating an opinion regarding the independence of the Auditor. This report must in all cases include an opinion on the provision of the additional services referred to in point (v) above.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(vii) To report to the Board of Directors in advance on all matters contemplated by law, the By-Laws and the Regulations of the Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(viii) Any other powers granted to it under the Regulations of the Board of Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 40.-&#160;&#160;&#160;&#160;Nominating, Compensation and Corporate Governance Committee</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;A Nominating, Compensation and Corporate Governance Committee shall be created within the Board of Directors, which shall be composed of such number of Directors as may be determined by the Board of Directors from time to time, although in no case may there be fewer than three Directors, to be appointed by the Board of Directors. All of the members of such Committee </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">must be external or non-executive Directors and the majority of them must be independent Directors. </font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The Chairman of the Nominating, Compensation and Corporate Governance Committee, which position shall be held by an independent Director in all cases, shall be appointed by the Committee itself from among its members.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The Nominating, Compensation and Corporate Governance Committee shall have the duties provided for under the applicable legislation, at a minimum.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The Board may approve the creation of two committees, separately assigning duties in connection with appointments to one of them and duties in connection with compensation to the other, with the power to assign corporate governance duties to either of them.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 41.-&#160;&#160;&#160;&#160;The Chairman of the Board of Directors</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Chairman of the Board of Directors shall be deemed the Chairman of the Company and of all of the shareholder- and board-level decision-making bodies thereof. The Chairman has the power to implement the resolutions of the Board of Directors and of the Executive Commission, which bodies he permanently represents with the broadest powers, being authorized, in urgent cases, to adopt such measures as he deems advisable in furtherance of the interests of the Company.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;In particular, the Chairman of the Board of Directors has the following powers&#58;</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(i)&#160;&#160;&#160;&#160;To represent the Company in its relationships with the Government, with the Spanish, foreign and supranational Administrative Services and Public Corporations and with all kinds of individuals and legal entities in furtherance of the corporate purpose and such other goals as are directly related thereto. In such capacity, he shall be the authorized signatory for the Company and shall approve </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">such writings, reports and letters as he deems conducive to the achievement of such purpose.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(ii)&#160;&#160;&#160;&#160;To represent the Company in the execution of all kinds of acts or contracts, subject to the authorization or approval of the Board of Directors or of the Executive Commission, if applicable.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(iii)&#160;&#160;&#160;&#160;To represent the Company as plaintiff, defendant, joint litigant, criminal complainant or in any other capacity at all kinds of courts and tribunals and arbitration bodies and institutions, 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Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(vii)&#160;&#160;&#160;&#160;To propose to the Board of Directors, or to the Executive Commission, if applicable, the organization of the services that are to be provided by the </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div 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Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(ix)&#160;&#160;&#160;&#160;To carry out, either directly or through his designees, the overall supervision of all services and divisions of the Company and propose, as a result, such measures as are indispensable to avoid defects, unnecessary expenses, and instances of abuse or damage.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(x)&#160;&#160;&#160;&#160;To authorize, either directly or through a designee to whom he delegates such power, the appointment of senior executive officers and employees, the compliance with which requirement shall be indispensable for them to take office and for remuneration to accrue in their favor.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">(xi)&#160;&#160;&#160;&#160;To adopt such measures as he deems are required to keep order in the services and discipline among the employees, with the power to impose, if necessary, any indispensable sanctions authorized for such purpose by internal regulations.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 42.-&#160;&#160;&#160;&#160;The General Secretary</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The General Secretary shall be responsible for the custody of the archives, the Minute Books and any documents, receipts and supporting records that may be of interest to the Company.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;In addition, in his capacity as Secretary of the Board of Directors and of the Executive Commission, he shall draw up the Minutes of the General Shareholders' Meeting and of the meetings of the Board of Directors and the </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">Executive Commission, which shall be signed by him and approved by the Chairman. He shall also be responsible for issuing, subject to the legal requirements applicable to each case, the certifications of Minutes or of other documents that must be authorized in order to fulfill the corporate purposes or at the request of a party with a legitimate interest, as well as for converting the corporate resolutions into public instruments.</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Section three</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Reports on corporate governance and compensation</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 43.-&#160;&#160;&#160;&#160;Annual corporate governance report</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Board of Directors shall approve each year a corporate governance report that shall explain in detail the structure of the Company&#8217;s system of governance and its operation in practice. The annual corporate governance report shall contain the references provided for legally and such other references, if any, as the Board of Directors may see fit.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;For the purposes of the annual corporate governance report, the classification of the Directors as executive, proprietary or independent shall be as determined by the law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The annual corporate governance report shall be made available to the shareholders on the Company&#8217;s corporate website by not later than the date of publication of the call to the Ordinary General Shareholders&#8217; Meeting that is to resolve on the financial statements for the fiscal year to which the report refers.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The annual corporate governance report shall be notified to the National Securities Market Commission &#91;Comisi&#243;n Nacional del Mercado de Valores&#93; and published as a material event within four months following the end of the fiscal year to which it refers and, in any case, by not later than the date on which the call to the Ordinary General Shareholders&#8217; Meeting is published.</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 44.-&#160;&#160;&#160;&#160;Report on Directors&#8217; compensation</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The Board of Directors shall approve each year a report on the compensation of the Directors. Such report shall contain complete, clear and understandable information on the Company&#8217;s compensation policy approved by the Board of Directors for the year in progress, and on that envisaged for future years, if any, and shall include an overall summary of how the compensation policy was applied during the year, as well as details of the individual compensation accrued to each of the Directors.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The report on Directors&#8217; compensation shall be made available to the shareholders on the Company&#8217;s corporate website by not later than the date of publication of the call to the Ordinary General Shareholders&#8217; Meeting that is to resolve on the financial statements for the fiscal year to which the report refers, and shall be put to a vote by the Ordinary General Shareholders&#8217; Meeting on a consultative basis and as a separate item on the agenda.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The report on Directors&#8217; compensation shall be notified to the National Securities Market Commission &#91;Comisi&#243;n Nacional del Mercado de Valores&#93; and published as a material event within four months following the end of the fiscal year to which it refers and, in any case, by not later than the date on which the call to the Ordinary General Shareholders&#8217; Meeting is published.</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Title IV</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Annual Financial Statements, Profits and Dividends</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 45.-&#160;&#160;&#160;&#160;Fiscal year and submission of the annual financial statements</font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The fiscal year shall commence on January 1 and shall end on December 31 of each year.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Within three months following the end of the fiscal year, the Board of Directors shall prepare, in compliance with the provisions of law, the annual financial statements, the management report and the proposed allocation of profits&#47;losses.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;The annual financial statements and the management report shall be subject to verification as provided by law and thereafter submitted for approval by the shareholders at the General Shareholders' Meeting, who shall decide on the allocation of profits&#47;losses.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The provisions of this article shall apply, to the extent appropriate and if at all, to the consolidated annual financial statements and the consolidated management report.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 46.-&#160;&#160;&#160;&#160;Allocation of profits&#47;losses</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The shareholders acting at the General Shareholders' Meeting shall decide on the allocation of the profits&#47;losses for the fiscal year based on the approved balance sheet.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;Once such payments as are provided for by law or these By-Laws have been made, dividends may only be distributed with a charge against the profits for the fiscal year or against unrestricted reserves, if the net book value of the shareholders' equity is not, or does not become as a result of the distribution, less than that of the share capital.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">3.&#160;&#160;&#160;&#160;Dividends shall be distributed to ordinary shareholders in proportion to the capital paid by them.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">4.&#160;&#160;&#160;&#160;The shareholders acting at the General Shareholders' Meeting may decide that dividends, or the share premium, be paid in kind, provided that the assets or </font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:141.84pt;width:100%"><div style="text-align:right"><font><br></font></div><div><img alt="image_53.jpg" src="image_53.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:177px"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">BY-LAWS</font></div></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">securities to be distributed are homogeneous and liquid. The latter requirement shall be deemed to be complied with when the securities are admitted to trading on an official market at the time the distribution resolution becomes effective, or will be so admitted within the following year, or when the Company provides adequate guarantees of liquidity. The rule set forth in this paragraph shall likewise apply to the return of contributions in the event of a reduction in share capital.</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Title V</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Dissolution and Liquidation</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 47.-&#160;&#160;&#160;&#160;Grounds for dissolution</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">The Company shall be dissolved upon any of the grounds set forth in the law.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:174%">Article 48&#160;&#160;&#160;&#160;Liquidation of the Company</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">1.&#160;&#160;&#160;&#160;The liquidation of the Company shall be carried out by the Board of Directors that is in office at the time of dissolution, so long as there is an odd number of Directors sitting on the Board of Directors. Otherwise, all of the members of the Board of Directors, except for the most recently appointed Director and, where there are several Directors who have that status, the youngest of them, shall act as Liquidators.</font></div><div style="margin-bottom:12pt;padding-left:35.15pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">2.&#160;&#160;&#160;&#160;The liquidation of the Company shall be carried out in accordance with the provisions of the law.&#8221;</font></div><div style="margin-bottom:12pt;padding-left:17.57pt;padding-right:17.57pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:174%">*          *          *</font></div><div style="margin-bottom:12pt;padding-left:35.25pt;text-align:justify;text-indent:-35.25pt"><font><br></font></div><div style="padding-left:56.7pt"><font><br></font></div><div style="height:70.56pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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<DOCUMENT>
<TYPE>EX-2.1
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<FILENAME>exhibit2111.htm
<DESCRIPTION>EX-2.1
<TEXT>
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<title>Document</title></head><body><div id="id014eb2370974083aa1dc13356a63d1e_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:167%">Exhibit 2.1</font></div></div><div style="text-align:center"><font><br></font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">DESCRIPTION OF TELEF&#211;NICA&#8217;S SECURITIES</font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REGISTERED PURSUANT TO SECTION 12 OF THE</font></div><div style="margin-top:9pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SECURITIES EXCHANGE ACT OF 1934</font></div><div style="text-align:center"><font><br></font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the following summary, references to &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Company</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">we</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">us</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">our</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; refer to Telef&#243;nica, S.A. The statements made under this caption include summaries of certain provisions contained in our bylaws. This summary does not purport to be complete and is qualified in its entirety by reference to such bylaws. For further information, see Exhibit 1.1 to this Form 20-F for a translation into the English language of the Amended and Restated bylaws.</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-24.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:16.42pt;text-decoration:underline">DESCRIPTION OF OUR ORDINARY SHARES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following summary describes certain material considerations concerning our capital stock and briefly describes certain provisions of our bylaws and Spanish law.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Corporate Objectives</font></div><div style="margin-top:9pt;text-align:justify;text-indent:20.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Article 5 of Title I of our bylaws sets forth our corporate purposes&#58;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The provision and operation of all kinds of public or private telecommunications services and, for such purpose, the design, installation, maintenance, repair, improvement, acquisition, disposition, interconnection, management, administration of, and any other activity not included in the preceding enumeration with respect to, all kinds of telecommunications networks, lines, satellites, equipment, systems and technical infrastructure whether now existing or to be created in the future, including the premises in which any and all of the foregoing items are located&#59;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the provision and operation of all kinds of services that are ancillary or supplemental to or result from telecommunications services&#59;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the research and development, promotion and application of all kinds of component principles, equipment and systems directly or indirectly used for telecommunications&#59;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">manufacturing and production activities and, in general, all other forms of industrial activity in connection with telecommunications&#59; and</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the acquisition, disposition and, in general, all other forms of commercial activity in connection with telecommunications.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Director Qualification</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to be elected as a director, a person must have held a number of our Shares (as defined below) representing a nominal value of no less than 3,000 euros for at least three years prior to his or her election. These Shares may not be transferred so long as such person remains a director. This requirement does not apply to any person who, at the time of his or her appointment, has either a labor or professional relationship with the company or is expressly exempted from such requirement by a vote of at least 85% of the Board of Directors.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interested Transactions</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When a director or persons related to him or her has an interest in a transaction with us or with any of the companies of our Group, such transaction (if unrelated to the ordinary course of our business or if not performed on an arm&#8217;s-length basis involving consideration that is significant to the Company and otherwise) must be presented to the Nominating, Compensation and Corporate Governance Committee. Such committee shall assess the transaction from the point of view of equal treatment of shareholders and the arm&#8217;s-length basis of the transaction and </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">shall be included in the Annual Corporate Governance Report and in the periodic information of the Company upon the terms set forth in applicable laws and regulations. The performance of such transactions requires the authorization of our Board of Directors, after the favorable report of the committee. The interested director must refrain from participating in votes that affect such transaction.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Significant Differences in Corporate Governance Practices</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Corporate governance guidelines</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a description of our corporate governance practices see &#8220;Item 16G. Corporate Governance&#8221; of this Form 20-F. </font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Description of our Capital Stock</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At each of February 23, 2023, and December 31, 2022 our issued share capital consisted of 5,775,237,554 ordinary registered shares with a nominal value of 1.00 euro each (each, a &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Share</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our shareholders delegated to the Board of Directors the authority to issue up to 2,596,065,843 new Shares (equal to half of Telef&#243;nica&#8217;s share capital on June 12, 2020, the date of the authorization). The Board of Directors is authorized to exclude preemptive rights, in whole or in part, pursuant to the applicable provisions of the Spanish Corporation Act. However, the power to exclude pre-emptive rights is limited to Shares amounting to up to 20% of the share capital on June 12, 2020, the date of the authorization. The Board&#8217;s authorization to issue new Shares expires on June 12, 2025.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Meetings and voting rights</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We hold our ordinary general shareholders&#8217; meeting during the first six months of each fiscal year on a date fixed by the Board of Directors. Extraordinary general shareholders&#8217; meetings may be called, from time to time, at the discretion of our Board of Directors or upon the request of shareholders representing at least 3% of our paid-in share capital. The minimum percentage required to exercise this right was lowered from 5% to 3% by Law 31&#47;2014.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We publish notices of all ordinary and extraordinary general shareholders&#8217; meetings in one of the more widely circulated newspapers in Spain, on the website of the Spanish Securities and Exchange Commission (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Comisi&#243;n Nacional del Mercado de Valores</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CNMV</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;)), and on our website in due time pursuant to the Spanish Corporation Act, being on a general basis at least one month before the relevant meeting. Furthermore, the Board of Directors may publish notices in other media, if deemed appropriate to ensure the public and effective dissemination of the notice meeting.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Each Share of Telef&#243;nica, S.A. entitles the holder to one vote. However, only registered holders of at least 300 Shares are entitled to attend a general shareholders&#8217; meeting. Holders of a lesser number of Shares may grant a proxy in respect thereof to a shareholder having the right to attend, as well as group together with other shareholders in the same situation until reaching the required number of Shares, following which a proxy must be granted by the shareholders so grouped together to one of such shareholders. The grouping must be carried out specifically for each General Shareholders&#8217; Meeting and be recorded in writing.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, under our bylaws, the maximum number of votes that a shareholder may cast is capped at 10% of our total outstanding voting capital. In determining the maximum number of votes that each shareholder may cast, only the Shares held by such shareholder are counted, disregarding those that correspond to other shareholders who have appointed such shareholder as his or her proxy, in spite of applying the limit individually to each of the represented shareholders. This cap will also apply to the maximum number of votes that may be collectively or individually cast by two or more shareholder companies belonging to the same group of entities, as well as to the maximum number of votes that may be cast by an individual or corporate shareholder and the entity or entities that are shareholders themselves and which are directly or indirectly controlled by that individual or corporate shareholder. Moreover, in </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">accordance with the Spanish Corporation Act, such cap would become ineffective where the bidder reaches, as a consequence of a tender offer, a percentage equal to or greater than 70% of the share capital carrying voting rights, unless the bidder (or those acting in concert with the bidder) is not subject to equivalent neutralization measures or has not adopted them.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, according to Article 34 of Spanish Royal Decree-Law 6&#47;2000 of June 23 on urgent measures to improve competition in the goods and services markets, individuals and legal entities directly and indirectly holding more than 3% of the total share capital or voting rights of two or more principal operator companies in Spain in, among other markets, the fixed-line and mobile-line telephony markets, may not exercise their voting rights in excess of 3% of the total in more than one company, except with the prior authorization of the Spanish National Markets and Competition Commission (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Comisi&#243;n Nacional de los Mercados y la Competencia</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CNMC</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;)). Principal operators are defined as one of the five operators with the largest market share in the corresponding market (&#8220;Principal Operators&#8221;). In addition, no individual or legal entity is allowed to appoint, directly or indirectly, members of the management body of more than one Principal Operator in, among others, the fixed-line or mobile-line telephony markets, except with the prior authorization of the CNMC. Additionally, individuals or legal entities considered Principal Operators are not allowed to exercise more than 3% of the voting rights of another Principal Operator nor to appoint, directly or indirectly, members of the management body of any Principal Operator, except, in both cases, with the prior authorization of the CNMC. Telef&#243;nica is considered a Principal Operator for the purposes of Article 34 of Royal Decree-Law 6&#47;2000 of June 23 in the Spanish fixed-line and mobile-line telephony markets.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Any Share may be voted by proxy. The proxies may be granted in writing or electronically and are valid only for a single meeting, unless the proxy-holder is the granting shareholder&#8217;s spouse, ascendant or descendant, or holds a general power of attorney granted in a public instrument with powers to manage all of the assets held by the shareholder granting the proxy in Spain. Under the Deposit Agreement (as defined below) relating to our ADSs (as defined below), the Depositary (as defined below) accepts voting instructions from holders of ADSs. The Depositary executes such instructions to the extent permitted by law and by the terms governing the Shares and ADSs. The Depositary or its nominee, as the case may be, will be entitled to vote by proxy the Shares underlying the relevant ADSs.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Only holders of record five days prior to the day on which a general meeting of shareholders is scheduled to be held may attend and vote at the meeting.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to the Spanish Corporation Act, as amended by Law 31&#47;2014, the general shareholders&#8217; meeting will be quorate on first call if the shareholders present, in person or by proxy, hold at least 25% of the subscribed share capital carrying voting rights. On second call, the meeting will be quorate regardless of the capital in attendance.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, if the agenda of the meeting includes resolutions on the amendment of the bylaws, including an increase or reduction of share capital, the transformation, merger, split-off, the en bloc assignment of assets and liabilities, the migration of the registered office abroad, the issuance of debentures or the exclusion or limitation of preemptive rights, the required quorum on first call must be met by the attendance of shareholders representing at least 50% of the subscribed share capital carrying voting rights (each a &#8220;Special Resolution&#8221;). On second call, the attendance of 25% of the subscribed share capital carrying voting rights will suffice.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a general rule, resolutions at the general shareholder&#8217;s meeting will be passed by a simple majority of votes cast at such meeting (i.e., provided that the votes &#34;for&#34; outnumber the votes &#34;against&#34; the relevant resolution).</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In contrast, in order to approve any Special Resolution, if the capital present or represented at the general shareholders&#8217; meeting exceeds 50% of the subscribed share capital carrying voting rights, the favorable vote of the absolute majority (that is, if the votes in favor exceed 50% of the votes corresponding to capital present and represented at the shareholders&#8217; meeting) will be required. If, on second call, shareholders representing 25% or more of the subscribed share capital carrying voting rights are present or represented but fail to reach the 50% threshold, the favorable vote of at least two-thirds of the share capital present or represented at the meeting will be required.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restrictions on foreign investment</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Exchange controls and foreign investments are regulated under Law 19&#47;2003, of July 4 (&#8220;Law 19&#47;2003&#8221;), as amended pursuant to Royal Decree-Law 8&#47;2020, of March 17, Royal Decree-Law 11&#47;2020, of March 31 and Royal Decree-Law 34&#47;2020, of November 17 (as amended by Royal-Decree Law 12&#47;2021, of June 24&#59; Royal-Decree Law 27&#47;2021 of November 23 and Royal-Decree Law 20&#47;2022 of December 27). Foreign investments are generally liberalized unless they fall within the scope of article 7 bis of Law 19&#47;2003, enacted in March 2020 through Royal Decree-Law 8&#47;2020, or&#8212;only with respect to investments in the defense sector&#8212;article 11 of Royal Decree 664&#47;1999, of April 23.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Article 7 bis of Law 19&#47;2003 establishes a screening mechanism for certain investments made by non-EU and non-EFTA residents, based on public order, public health and public security reasons (the &#8220;Screening Mechanism&#8221;). The Screening Mechanism aligns part of the Spanish foreign investment legal framework with Regulation (EU) 2019&#47;452 of March 19, 2019 establishing a framework for the screening of foreign direct investments into the European Union. Certain provisions of Regulation (EU) 2019&#47;452&#8212;such as the list of sectors affecting public order and public security or the definition of state-owned enterprises and other similar investors&#8212;are mirrored in the regulations establishing the Screening Mechanism. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Screening Mechanism can be summarized as follows&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Under the ordinary procedure, prior authorization from the Spanish Council of Ministers (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Consejo de Ministros</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) is required to close foreign direct investments subject to it. The legal term to issue a decision is six months.</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">On a transitional basis, until the Screening Mechanism is further developed, a fast-track 30-day procedure, whose resolution is to be issued by a lower-tier authority (the General Directorate for International Trade and Investments&#8212;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Direcci&#243;n General de Comercio Internacional e Inversiones</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), applies for investments below 5 million euros. Investments below 1 million euros are not subject to the Screening Mechanism.</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Under both the ordinary and fast-track procedures, the investment will be deemed unauthorized if the relevant authority does not respond to the authorization request within the corresponding legal term.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of the Screening Mechanism, the following persons are deemed to be &#8220;foreign investors&#8221;&#58;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:25.4pt">non-EU and non-EFTA residents&#59; and</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">EU or EFTA residents beneficially owned by non-EU and non-EFTA residents. This occurs when non-EU and non-EFTA residents ultimately possess or control, directly or indirectly, more than 25% of the share capital or voting rights of the investor, or otherwise exercise control, directly or indirectly, over the investor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, effective November 19, 2020 and until December 31, 2024, the following persons will also be deemed to be &#8220;foreign investors&#8221;, provided they invest in listed companies or the investment value exceeds 500 million euros&#8212;for investments in private companies&#58;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:25.4pt">EU and EFTA residents in countries other than Spain, and</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">4</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Spanish residents beneficially owned by EU or EFTA residents in countries other than Spain, that is, those in which a EU or EFTA resident other than in Spain ultimately owns or controls more than 25% of the share capital or voting rights of, or otherwise exercises control over, the Spanish resident.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign direct investments (&#34;FDI&#34;) are&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">investments that result in a foreign investor reaching a stake of at least 10% of the share capital of a Spanish company&#59; and</font></div><div style="padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10pt">any corporate transaction, business action or legal transaction which enables effective participation in the management or control of a Spanish company or of a whole part or branch of activity of a Spanish company.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Not all foreign direct investments are subject to the Screening Mechanism. Investors are subject to the Screening Mechanism only if they qualify as FDI and the investment is made in one of the critical sectors or&#8212;only where the investor is a Non-UE or non-EFTA investor&#8212;by investors that meet certain subjective criteria regardless of the business of the target.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign direct investments in the following sectors are subject to the Screening Mechanism&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Critical infrastructure, whether physical or virtual, including energy, transport, water, health, communications, media, data processing or storage, aerospace, defense, electoral or financial infrastructure, and sensitive facilities, as well as land and real estate crucial for the use of such infrastructure. </font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Critical technologies and dual use items as defined in point 1 of Article 2 of Council Regulation (EC) No 428&#47;2009, including Artificial Intelligence, robotics, semiconductors, cybersecurity, aerospace, defense, energy storage, quantum and nuclear technologies as well as nanotechnologies and biotechnologies. </font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Supply of critical inputs, including energy or raw materials, as well as food security. </font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Sectors with access to sensitive information, including personal data, or the ability to control such information. </font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Media. </font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Other sectors designated by the Spanish government from time to time that may affect public security, order or health.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are engaged in activities that are included in one or more sectors listed above. As such, FDI in Telef&#243;nica may be subject to the Screening Mechanism if the conditions described in this section are satisfied.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Foreign direct investments by the following non-EU and non-EFTA investors are also subject to the Screening Mechanism, regardless of the business of the target&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Investors directly or indirectly controlled by a non-EU and non-EFTA government, including state bodies, armed forces or sovereign wealth funds&#59; the possibility of exercising decisive influence as a result of an agreement or through the ownership of shares or interests in another person (directly or indirectly) is deemed to constitute &#8220;control&#8221; for these purposes. </font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">Investors that have already made an investment affecting national security, public order or public health in another EU Member State, including an investment in any of the above-mentioned sectors.</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">If there is a serious risk that the investor engages in illegal or criminal activities affecting national security, public order or public health in Spain.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, article 11 of Royal Decree 664&#47;1999, of April 23, establishes that FDI carried out by non-residents in companies engaged in activities qualified as relevant for national defense, will be subject to the Screening Mechanism. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gun jumping the Screening Mechanism will render the transaction invalid and without any legal effect until the required authorization is obtained. In addition, fines up to the value of the investment could be imposed. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, Royal Decree 664&#47;1999, of April 23, establishes that non-Spanish foreign investors who are not resident in a tax haven are required to file a notification with the Spanish Registry of Foreign Investments following an investment or divestiture, if any, solely for statistical, economic and administrative purposes. Where the investment or divestiture is made in shares of Spanish companies listed on any of the Spanish Stock Exchanges, the duty to provide notice of a foreign investment or divestiture lies with the relevant entity with whom the shares (in book-entry form) have been deposited or which has acted as an intermediary in connection with the investment or divestiture. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the foreign investor is a resident of a tax haven, as defined under Spanish law (Royal Decree 1080&#47;1991, of July 5), notice must be provided to the Registry of Foreign Investments prior to making the investment, as well as after consummating the transaction. However, prior notification is not necessary in the following cases&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">investments in listed securities, whether or not trading on an official secondary market&#59;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">investments in participations in investment funds registered with the CNMV&#59; and </font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">foreign shareholdings that do not exceed 50.0% of the capital of the Spanish company in which the investment is made. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional regulations to those described above apply to investments in some specific industries, including air transportation, mining, manufacturing and sales of weapons and explosives for civil use and national defense, radio, television, telecommunications and gambling. These restrictions do not apply to investments made by EU residents, other than investments by EU residents in activities relating to the Spanish defense sector or the manufacturing and sale of weapons and explosives for non-military use.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Preemptive Rights</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Spanish Corporation Act, shareholders have preemptive rights to subscribe for any new Shares in capital increases with issuances of new shares with a charge to monetary contributions and in issuances of debentures convertible into Shares. Such rights may be excluded (partially or totally) under special circumstances by virtue of a resolution passed at a general shareholders&#8217; meeting in accordance with Articles 308, 504 and 506 of the Spanish Corporation Act, or by the Board of Directors, if previously authorized at a general shareholders&#8217; meeting in accordance with Article 506 of the Spanish Corporation Act (for capital increases) and Articles 417 and 511 (for issuances of debentures convertible into Shares). Such preemptive rights will not be available in the event of an increase in capital to meet the requirements of a convertible bond issue or a merger or demerger of another entity into Telef&#243;nica or of all or part of the assets split from another company, in which Shares are issued as consideration or, in general, when the increase is carried out as consideration in exchange for non-cash contributions. Such rights are transferable, may be traded on the Automated Quotation System and may be of value to existing shareholders because new Shares may be offered for subscription at prices lower than prevailing market prices.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Form and Transfer</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ordinary Shares are in book-entry form and are indivisible. Joint holders must nominate one person to exercise their rights as shareholders, though joint holders are jointly and severally liable for all obligations arising from their status as shareholders. Sociedad de Gesti&#243;n de los Sistemas de Registro, Compensaci&#243;n y Liquidaci&#243;n de Valores, S.A. Unipersonal (&#8220;Iberclear&#8221;), which manages the clearance and settlement system of the Spanish Stock Exchanges, maintains the central registry of ordinary Shares reflecting the number of ordinary Shares held by each of its participant entities (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">entidades participantes</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) as well as the number of such </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">6</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ordinary Shares held by registered legal owners. Each participant entity in turn maintains a register of the owners of such ordinary Shares.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transfers of Telef&#243;nica&#8217;s Shares quoted on the Spanish Stock Exchanges must be made by book-entry registry or delivery of evidence of title to the buyer through, or with the participation of, a member of the Spanish Stock Exchanges that is an authorized broker or dealer. Transfers of Telef&#243;nica&#8217;s Shares may also be subject to certain fees and expenses.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reporting Requirements</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to Royal Decree 1362&#47;2007 of October 19 on the disclosure of significant stakes in listed companies (&#8220;Royal Decree 1362&#47;2007&#8221;), which was modified by Royal Decree 878&#47;2015, the acquisition or disposition of Shares of Telef&#243;nica must be reported within four trading days of the acquisition or disposition to Telef&#243;nica and the CNMV, where&#58;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">in the case of an acquisition, the acquisition results in that person or group holding a number of voting rights in Telef&#243;nica that reaches or surpasses 3% (or 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 60%, 70%, 75%, 80% or 90%) of Telef&#243;nica&#8217;s total number of voting rights&#59; or</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">in the case of a disposal, the disposition reduces the number of voting rights held by a person or group below a threshold of 3% (or 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 60%, 70%, 75%, 80% or 90%) of Telef&#243;nica&#8217;s total number of voting rights.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Royal Decree 878&#47;2015 established a new approach for calculating whether these thresholds are reached, surpassed or fell short which requires adding the voting rights corresponding to shares and financial instruments. Royal Decree 878&#47;2015 also expands the definition of financial instruments which should be reported, including financial instruments having a similar economic effect as the shares of a company, whether the instruments are cash or physically settled, including convertible securities, options, forwards, futures, swaps, CFDs or any other type of instrument which grants the holder the right to acquire shares or a right to receive an equivalent cash settlement amount. Additionally, Royal Decree 878&#47;2015 amends the calculation rules of the voting rights attributable to a financial instrument which, among other changes, shall now be calculated on a daily basis.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reporting requirements referred to above apply not only to the acquisition or transfer of shares, but also when, without an acquisition or transfer of shares, the proportion of voting rights of an individual or legal entity reaches, exceeds or falls below the threshold that triggers the obligation to report as a consequence of a change in the total number of voting rights of Telef&#243;nica on the basis of the information reported to the CNMV and disclosed by it, in accordance with the Royal Decree.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regardless of the actual ownership of the shares, any individual or legal entity with a right to acquire, transfer or exercise voting rights granted by the shares, and any individual or legal entity who owns, acquires or transfers, whether directly or indirectly, other securities or financial instruments which grant a right to acquire shares carrying voting rights (such as transferable securities, options, futures, swaps, forwards and other derivative contracts), will also have an obligation to notify the company and the CNMV of the holding of a significant stake in accordance with the above-mentioned regulations.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stricter disclosure obligations apply if the person obligated to disclose has residency in a country considered a tax haven by the Spanish authorities, a zero-taxation country or territory or a country or territory that does not share information with the Spanish authorities, in which cases the initial threshold for disclosure is reduced to 1% (and successive multiples of 1%).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to Regulation (EU) No 596&#47;2014 of the European Parliament and of the Council of April 16, 2014 on market abuse (market abuse regulation) and repealing Directive 2003&#47;6&#47;EC of the European Parliament and of the Council and Commission Directives 2003&#47;124&#47;EC, 2003&#47;125&#47;EC and 2004&#47;72&#47;EC, (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Market Abuse Regulation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), persons discharging </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">7</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">managerial responsibilities, as well as persons closely associated with them, shall notify Telef&#243;nica and the CNMV of every transaction conducted on their own account relating to our shares or debt instruments or to derivatives or other financial instruments linked thereto. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to the Market Abuse Regulation a &#34;person discharging managerial responsibilities&#34; means a person within an issuer, who is&#58; (a) a member of the administrative, management or supervisory body of that entity&#59; or (b) a senior executive who is not a member of the bodies referred to in (a), who has regular access to inside information relating directly or indirectly to that entity and power to take managerial decisions affecting the future developments and business prospects of that entity. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, in accordance with Article 230 of the Spanish Securities Market Law (&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LMV</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;), the obligation to notify the transactions will arise when, within a calendar year, the sum without netting of all transactions reaches 20,000 euros. From that first communication, persons discharging managerial responsibilities and the persons closely associated with them must notify each and every subsequent transaction.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As stated above, disclosure obligations are primarily regulated by Royal Decree 1362&#47;2007 (as amended), by the Market Abuse Regulation and by the LMV which establish a detailed set of rules on this legal framework (including, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">inter alia</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, rules determining the persons subject to disclosure obligations, the different types of situations triggering disclosure and the corresponding exceptions, specific attribution and aggregation rules, the deadlines to notify the transactions, triggering disclosure obligations and incorporation of notices submitted to the CNMV&#8217;s public registry).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Disclosure of Net Short Positions</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with Regulation (EU) No. 236&#47;2012 of the European Parliament and of the European Council as regards the adjustment of the relevant threshold for the notification of significant net short positions in shares, as amended by the Commission Delegated Regulation (EU) 2022&#47;27 of September 27, 2021 (which entered into force on January 31, 2022), net short positions on shares listed on the Spanish Stock Exchanges equal to, or in excess of, 0.1% (0.2% before the latest amendment) of the relevant issuer&#8217;s share capital and each 0.1% above that, are required to be disclosed to the CNMV by no later than the first trading day following the transaction. If the net short position reaches 0.5%, and also at every 0.1% above that, the CNMV will disclose the net short position to the public.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notification is mandatory even if the same position has been already notified to the CNMV in compliance with reporting requirements previously in force in Spain.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The information to be disclosed is set out in Table 1 of Annex I of Delegated Regulation 826&#47;2012, according to the format approved as Annex II of this Regulation. The information will be published, where appropriate, on a web page operated or supervised by the corresponding authority.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Moreover, pursuant to Regulation (EU) No. 236&#47;2012, where the CNMV considers that (i) there are adverse events or developments that constitute a serious threat to financial stability or to market confidence (serious financial, monetary or budgetary problems, which may lead to financial instability, unusual volatility causing significant downward spirals in any financial instrument, etc.)&#59; and (ii) the measure is necessary and will not be disproportionately detrimental to the efficiency of financial markets in view of the advantages sought, it may, following consultation with the European Securities and Market Authority (&#8220;ESMA&#8221;), take any one or more of the following measures&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">impose additional notification obligations by either (a) reducing the thresholds for the notification of net short positions in relation to one or several specific financial instruments&#59; and&#47;or (b) requesting the parties involved in the lending of a specific financial instrument to notify any change in the fees requested for such lending&#59; and</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">restrict short selling activity by either prohibiting or imposing conditions on short selling</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, according to Regulation (EU) No. 236&#47;2012, where the price of a financial instrument has fallen significantly during a single day in relation to the closing price on the previous trading day (10% or more in the case of a liquid share), the CNMV may prohibit or restrict short selling of financial instruments for a period not exceeding the end of the trading day following the trading day on which the fall in price occurs.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, Regulation (EU) No. 236&#47;2012 also vests powers to ESMA in order to take measures similar to the ones described above in exceptional circumstances, when the purpose of these measures is to deal with a threat affecting several EU member states and the competent authorities of these member states have not taken adequate measures to address it.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Shareholder Agreements</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Article 531 </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">et seq.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of the Spanish Corporation Act require parties to disclose those shareholders&#8217; agreements in respect of Spanish listed companies that affect the exercise of voting rights at a general shareholders&#8217; meeting or contain restrictions or conditions on the transferability of shares or bonds that are convertible or exchangeable into shares. If any shareholders enter into such agreements with respect to Telef&#243;nica&#8217;s Shares, they must disclose the execution, amendment or extension of such agreements to Telef&#243;nica and the CNMV (together with the relevant clauses of said agreements) and file such agreements with the appropriate Commercial Registry. Failure to comply with these disclosure obligations renders any such shareholders&#8217; agreement unenforceable and constitutes a violation of the LMV.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Own Shares</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to Spanish corporate law, we may only repurchase our own Shares within certain limits and in compliance with the following requirements&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">the repurchase must be authorized by the general shareholders&#8217; meeting by a resolution establishing the maximum number of Shares to be acquired, the minimum and maximum acquisition price and the duration of the authorization, which may not exceed five years from the date of the resolution&#59; and</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">the repurchase, including any Shares already held by us or a person acting on our behalf, must not bring our net worth below the aggregate amount of our share capital and legal reserves.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For these purposes, net worth means the amount resulting from the application of the criteria used to draw up the financial statements, subtracting the amount of profits directly imputed to that net worth, and adding the amount of share capital subscribed but not called and the share capital par and issue premiums recorded in our accounts as liabilities. In addition&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">the aggregate par value of the Shares directly or indirectly repurchased, together with the aggregate par value of the Shares already held by us and our subsidiaries, must not exceed 10% of our share capital&#59; and</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">the Shares repurchased must be fully paid and must be free of ancillary contributions (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">prestaciones accesorias</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Voting rights attached to treasury shares will be suspended and economic rights (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">e.g.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the right to receive dividends and other distributions and liquidation rights), except the right to receive bonus shares, will accrue proportionately to all of our shareholders. Treasury shares are counted for the purpose of establishing the quorum for shareholders&#8217; meetings and majority voting requirements to pass resolutions at shareholders&#8217; meetings.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regulation (EU) No. 596&#47;2014 of April 16, repealing, among others, Directive 2003&#47;6&#47;EC of the European Parliament and the European Council of January 28, on insider dealing and market manipulation establishes rules in order to ensure the integrity of European Community financial markets and to enhance investor confidence in those markets. This regulation maintains an exemption from the market manipulation rules regarding share buyback programs by </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">9</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">companies listed on a stock exchange in an EU Member State. Commission Regulation (EC) No. 2273&#47;2003, of December 22, implemented the aforementioned directive with regard to exemptions for buyback programs. Article&#160;5 of this regulation states that in order to benefit from the exemption, a buyback program must comply with certain requirements established under such regulation and the sole purpose of the buyback program must be to reduce the share capital of an issuer (in value or in number of shares) or to meet obligations arising from either of the following&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">debt financial instruments exchangeable into equity instruments&#59; or</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">employee share option programs or other allocations of shares to employees of the issuer or an associated company.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CNMV Circular 1&#47;2017, dated April 26, on liquidity contracts entered into by issuers with financial institutions for the management of its treasury shares as amended by CNMV Circular 2&#47;2019, dated November 27, governs the disclosure requirements for issuers and the rules of conduct to be followed by financial intermediaries when trading under a liquidity agreement for these trades to benefit from the safe harbor provided by such Circular and qualify as an accepted market practice for the purposes of market abuse regulations. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an acquisition or series of acquisitions of Shares of Telef&#243;nica reaches or exceeds or causes Telef&#243;nica&#8217;s and its affiliates&#8217; holdings to reach or exceed 1% of Telef&#243;nica&#8217;s voting Shares, Telef&#243;nica must notify its final holding of treasury stock to the CNMV. If such threshold is reached as a result of a series of acquisitions, such reporting obligation will only arise after the closing of the acquisition which, taken together with all acquisitions made since the last of any such notifications, causes the Telef&#243;nica&#8217;s and its affiliates holdings to exceed, 1% of Telef&#243;nica&#8217;s voting Shares. Sales and other dispositions of Telef&#243;nica&#8217;s treasury stock will not be deducted in the calculation of such threshold. This requirement also applies if the stock is acquired by a majority-owned subsidiary of Telef&#243;nica.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Moreover, pursuant to Spanish corporate law, the audited financial statements of a company must include a reference regarding any treasury shares.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, we held 85,217,621 Shares of treasury stock, representing 1.47600% of our capital stock. At December 31, 2021, we held 139,329,370 Shares of treasury stock, representing 2.41100% of our capital stock. For further description about our shareholders&#8217; return, see &#8220;Item 8. Financial Information&#8212;Dividend Information and Shareholders&#8217; Return&#8221;.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At our annual general shareholders' meeting held on June 8, 2018, our shareholders extended their prior authorization to the Board of Directors to acquire our Shares for an additional five years from the date of such meeting. The authorization also applies to companies under our control. Pursuant to the authorization, the aggregate nominal value of our Shares held by us or any of our subsidiaries cannot exceed the limit established by applicable laws (which is, as of the date of this Form 20-F, 10% of our outstanding capital).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Change of Control Provisions</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain antitrust regulations may delay, defer or prevent a change of control of Telef&#243;nica or any of its subsidiaries in the event of a merger, acquisition or corporate restructuring. In Spain, the application of both Spanish and European antitrust regulations requires that prior notice of domestic or cross-border merger transactions be given in order to obtain a &#8220;non-opposition&#8221; ruling from antitrust authorities.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tender Offers</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tender offers are governed in Spain by the LMV (as amended by Law 6&#47;2007 of April 12) and Royal Decree 1066&#47;2007, of July 27, which have implemented Directive 2004&#47;25&#47;EC of the European Parliament and of the European Council of April 21. Tender offers in Spain may qualify as either mandatory or voluntary offers.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">10</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mandatory public tender offers must be launched for all the shares of the target company or other securities that might directly or indirectly give the right to subscription thereto or acquisition thereof (including convertible and exchangeable bonds) at an equitable price and not subject to any conditions when any person acquires control of a Spanish company listed on the Spanish Stock Exchanges, whether such control is obtained&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">by means of the acquisition of shares or other securities that directly or indirectly give voting rights in such company&#59;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">through agreements with shareholders or other holders of said securities&#59; or</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">as a result of other situations of equivalent effect as provided in the regulations (i.e., indirect control acquired through mergers, share capital decreases, target&#8217;s treasury stock variations or securities exchange or conversion, etc.).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A person is deemed to have obtained the control of a target company, individually or jointly with concerted parties, whenever&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">it acquires, directly or indirectly, a percentage of voting rights equal to or greater than 30%&#59; or</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">it has acquired a percentage of less than 30% of the voting rights and appoints, in the 24 months following the date of acquisition of said percentage, a number of directors that, together with those already appointed, if any, represent more than one-half of the members of the target company&#8217;s board of directors. Regulations also set forth certain situations where directors are deemed to have been appointed by the bidder or persons acting in concert therewith unless evidence to the contrary is provided.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, Spanish regulations establish certain exceptional situations where control is obtained but no mandatory tender offer is required, including, among others&#58;</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">subject to the CNMV&#8217;s approval,</font></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211; &#160;&#160;&#160;&#160;acquisitions or other transactions resulting from the conversion or capitalization of credits into shares of listed companies, the financial feasibility of which is subject to serious and imminent danger, even if the company is not undergoing bankruptcy proceedings, provided that such transactions are intended to ensure the company&#8217;s financial recovery in the long term&#59; or</font></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8211; &#160;&#160;&#160;&#160;in the event of a merger, provided that those acquiring control did not vote in favor of the merger at the relevant general shareholders&#8217; meeting of the offeree company and provided also that it can be shown that the primary purpose of the transaction is not the takeover but an industrial or corporate purpose&#59; and</font></div><div style="margin-top:9pt;padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.7pt">when control has been obtained after a voluntary bid for all of the securities, if either the bid has been made at an equitable price or has been accepted by holders of securities representing at least 50% of the voting rights to which the bid was directed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of calculating the percentages of voting rights acquired, the regulations establish the following rules&#58;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">percentages of voting rights corresponding to (i) companies belonging to the same group of the bidder&#59; (ii) members of the board of directors of the bidder or of companies of its group&#59; (iii) persons acting for the account of or in concert with the bidder (a concert party shall be deemed to exist when two or more persons collaborate under an agreement, be it express or implied, oral or written, in order to obtain control of the offeree company)&#59; (iv) voting rights exercised freely and over an extended period by the bidder under proxy granted by the actual holders or owners of such rights in the absence of specific instructions with respect thereto&#59; and (v) shares held by a nominee, such nominee being understood as a third party whom the bidder totally or partially covers against the risks inherent in acquisitions or transfers of the shares or the </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">11</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">possession thereof, will be deemed to be held by the bidder (including the voting rights attaching to shares that constitute the underlying asset or the subject matter of financial contracts or swaps when such contracts or swaps cover, in whole or in part, against the risks inherent in ownership of the securities and have, as a result, an effect similar to that of holding shares through a nominee)&#59;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">both the voting rights arising from the ownership of shares and those enjoyed under a usufruct or pledge or upon any other title of a contractual nature will be counted towards establishing the number of voting rights held&#59;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the percentage of voting rights shall be calculated based on the entire number of shares carrying voting rights, even if the exercise of such rights has been suspended&#59; voting rights attached to treasury shares shall be excluded&#59; and non-voting shares shall be taken into consideration only when they carry voting rights pursuant to applicable law&#59; and</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">acquisitions of securities or other financial instruments giving the right to the subscription, conversion, exchange or acquisition of shares which carry voting rights will not result in the obligation to launch a tender offer either until such subscription, conversion, exchange or acquisition occurs.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the foregoing, upon the terms established in the regulations, the CNMV will conditionally dispense with the obligation to launch a mandatory bid when another person or entity, individually or jointly in concert, directly or indirectly holds an equal or greater voting percentage than the potential bidder in the target company.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The price of the mandatory tender offer is deemed equitable when it is at least equal to the highest price paid or agreed by the bidder or by any person acting in concert therewith for the same securities during the 12 months prior to the announcement of the tender offer. When the mandatory tender offer must be made without the bidder having previously acquired the shares over the above-mentioned 12-month period, the equitable price shall not be less than the price calculated in accordance with other rules set forth in the regulations. In any case, the CNMV may change the price so calculated in certain circumstances (extraordinary events affecting the price, evidence of market manipulation, etc.).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mandatory offers must be launched within one month from the acquisition of the control of the target company.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Voluntary tender offers may be launched when a mandatory offer is not required. Voluntary offers are subject to the same rules established for mandatory offers except for the following&#58;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">they may be subject to certain conditions (such as amendments to the bylaws or adoption of certain resolutions by the target company, acceptance of the offer by a minimum number of securities, approval of the offer by the shareholders&#8217; meeting of the bidder and any other deemed by the CNMV to be in accordance with law), provided that such conditions can be met before the end of the acceptance period of the offer&#59; and</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">they may be launched at any price, regardless of whether it is lower than the above-mentioned &#8220;equitable price&#8221;. However, if they are not launched at an equitable price and if the tender offer shares representing at least 50% of the voting rights are tendered in the offer (excluding voting rights already held by the bidder and those belonging to shareholders who entered into an agreement with the bidder regarding the tender offer), the bidder may become obliged to launch a mandatory tender offer.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In any case, by virtue of an amendment to the LMV operated by Law 1&#47;2012, of June 22, the price in a voluntary tender offer must be the higher of (i) the equitable price and (ii) the price resulting from an independent valuation report, and must at least consist of cash as an alternative if certain circumstances have occurred during the two years prior to the announcement of the offer (basically, the trading price for the shares being affected by price </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">manipulation practices, market or share prices being affected by natural disasters, </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">force majeure</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, or other exceptional events, or the target company being subject to expropriation or confiscation resulting in a significant impairment of the company&#8217;s real value).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Spanish regulations on tender offers set forth further provisions, including&#58;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">subject to shareholder approval within 18 months from the date of announcement of the tender offer, the board of directors of a target company will be exempt from the rule prohibiting frustrating action against a foreign bidder whose board of directors is not subject to an equivalent passivity rule&#59;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">defensive measures included in a listed company&#8217;s bylaws and transfer and voting restrictions included in agreements among a listed company&#8217;s shareholders will remain in place whenever the company is the target of a tender offer, unless the shareholders resolve otherwise (in which case any shareholders whose rights are diluted or otherwise adversely affected will be entitled to compensation at the target company&#8217;s expense)&#59; and</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">squeeze-out and sell-out rights will apply provided that following a tender offer for all the target&#8217;s share capital, the bidder holds securities representing at least 90% of the target company&#8217;s voting capital and the tender offer has been accepted by the holders of securities representing at least 90% of the voting rights other than those held by or attributable to the bidder previously to the offer.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Payment of Taxes</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Holders of Shares will be responsible for any taxes or other governmental charges payable on their Shares, including any taxes payable on transfer. The paying agent or the transfer agent, as the case may be, may, and upon instruction from Telef&#243;nica, will&#58;</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">refuse to effect any registration of transfer of such Shares or any split-up or combination thereof until such payment is made&#59; or</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">withhold or deduct from any distributions on such Shares or sell for the account of the holder thereof any part or all of such Shares (after attempting by reasonable means to notify such holder prior to such sale), and apply, after deduction for its reasonable expenses incurred in connection therewith, the net proceeds of any such sale to payment of such tax or other governmental charge. The holder of such Shares will remain liable for any deficiency.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shareholders vote on final dividend distributions at the shareholders&#8217; meeting. Distributable profits are equal to&#58;</font></div><div style="margin-top:9pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">net profits for the year&#59; plus</font></div><div><font><br></font></div><div style="margin-bottom:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%;padding-left:14.5pt">profits carried forward from previous years&#59; plus</font></div><div style="margin-bottom:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%;padding-left:14.5pt">distributable reserves&#59; minus</font></div><div style="margin-bottom:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%;padding-left:14.5pt">losses carried forward from previous years&#59; minus</font></div><div style="margin-bottom:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:161%;padding-left:14.5pt">amounts allocated to reserves as required by law or by our bylaws.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of distributable profits is based on our unconsolidated financial statements prepared in accordance with Spanish GAAP, which differ from the Consolidated Financial Statements prepared in accordance with IFRS (as defined below) included elsewhere in this Form 20-F.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">13</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors can approve interim dividend payments without a prior shareholder vote on the issue. However, under those circumstances, the dividend is limited to distributable net profits of the current year and is subject to certain legal requirements.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unclaimed dividends revert to us five years from their date of payment.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Registration and transfers</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Shares are in registered book-entry form. Transfers executed through stock exchange systems are implemented pursuant to the stock exchange clearing and settlement procedures carried out by the Spanish clearing institution. Transfers executed outside of stock exchange systems, that is, over the counter, are implemented pursuant to the general legal regime for book-entry transfer, including registration by the Spanish clearing institution.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are no restrictions with respect to the transfer of our Shares.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidation rights</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under Spanish law, upon our liquidation, the shareholders would be entitled to receive, on a pro rata basis, any assets remaining after the payment of our debts and taxes and liquidation expenses.</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-24.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:16.42pt;text-decoration:underline">DESCRIPTION OF OUR AMERICAN DEPOSITARY SHARES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Depositary of our American Depositary Receipt (each, an &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ADR</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; or a &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Receipt</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) program is Citibank, N.A. (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depositary</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), and the address of its principal executive office is 388 Greenwich Street, 6th Floor, New York, New York 10013. ADRs are certificates issued by the Depositary to evidence the American Depositary Shares (each, an &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ADS</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) issued under the terms of the Deposit Agreement (as defined below). Our ADSs are listed on the New York Stock Exchange under the symbol &#8220;TEF.&#8221; Each ADS represents the right to receive one ordinary share of the Company with a nominal value of 1.00 euro each (each, a &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Share</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Depositary has issued ADSs in form of certificated ADSs or uncertificated ADSs pursuant to the Deposit Agreement of the Company (formerly Telef&#243;nica de Espa&#241;a, S.A.) and Citibank, N.A., as depositary, and holders of ADRs (filed as Exhibit 99.(a)(v) to the Registration Statement on Form F-6 filed on May 22, 2012, Registration No. 333-181584)  (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Original Deposit Agreement</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), as amended by Amendment No. 1 to Deposit Agreement of the Company and Citibank, N.A., as depositary, and holders of ADRs (filed as Exhibit 99.(a)(iv) to the Registration Statement on Form F-6 filed on May 22, 2012, Registration No. 333-181584) (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendment No. 1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), as further amended by Amendment No. 2 to Deposit Agreement of the Company and Citibank, N.A., as depositary, and holders of ADRs (filed as Exhibit 99.(a)(iii) to the Registration Statement on Form F-6 filed on May 22, 2012, Registration No. 333-181584) (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendment No. 2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) and as further amended by Amendment No. 3 to Deposit Agreement of the Company and Citibank, N.A., as depositary, and holders of ADRs (filed as Exhibit 99.(a)(ii) to the Registration Statement on Form F-6 filed on May 22, 2012, Registration No. 333-181584) (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendment No. 3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; and, the Original Deposit Agreement, as amended by Amendment No. 1, Amendment No. 2 and Amendment No 3, the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deposit Agreement</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of the description below, capitalized terms shall have the following meanings&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Custodian</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means the agent or agents of the Depositary (singly or collectively, as the context requires) appointed by it to act as Custodian for the purposes of the Deposit Agreement&#59; </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Delivery</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any security, either (i) the recording of transfer of such security by the entity or entities required or empowered by Spanish law or (ii) in the case of securities not subject to transfer by recordation, the delivery of a physical certificate representing such security&#59;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deposited Securities</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means all Shares deposited under the Deposit Agreement and any and all other Shares, securities, property and cash received at any time by the Depositary or the </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">14</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Custodian in respect or in lieu of such deposited Shares and other Shares, securities, property and cash at such time held hereunder&#59; and</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Holder</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means the person or persons in whose name an ADR is registered on the register maintained by the Depositary for such purpose.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Voting of Deposited Securities</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As soon as practicable after receipt of notice of any meeting or solicitations of consents or proxies of Holders of Shares or other Deposited Securities, the Depositary shall, except in the case of Deposited Securities represented by Peruvian ADSs (as defined in the Deposit Agreement), the delivery of voting instructions in respect of which shall be determined in accordance with the terms of the Deposit Agreement, mail to the Holders a notice containing (a) such information as is contained in such notice, (b) a statement that each Holder at the close of business on a specified record date will be entitled, subject to the provisions of or governing Deposited Securities, to instruct the Depositary as to the exercise of the voting rights, if any, pertaining to the Deposited Securities represented by the ADSs evidenced by such Holders&#8217; Receipts, and (c) a statement as to the manner in which such instructions may be given, including an express indication that instructions may be given (or be deemed given in accordance with the last sentence of this paragraph if no instruction is received) to the Depositary to give a discretionary proxy to a person designated by the Board of Directors of the Company. Upon the written request of a Holder on such record date, received on or before the date established by the Depositary for such purpose, the Depositary shall endeavor insofar as practicable and permitted under the provisions of or governing Deposited Securities to vote or cause to be voted (or to grant a discretionary proxy to a person designated by the Board of Directors of the Company to vote) the Deposited Securities represented by the ADSs evidenced by such Holder's Receipts in accordance with any instructions set forth in such request. The Depositary shall not itself exercise any voting discretion over any Deposited Securities. If no instructions are received by the Depositary from any Holder with respect to any of the Deposited Securities represented by the ADSs evidenced by such Holder's Receipts on or before the date established by the Depositary for such purpose, the Depositary shall deem such Holder to have instructed the Depositary to give a discretionary proxy to a person designated by the Board of Directors of the Company with respect to such Deposited Securities and the Depositary shall give a discretionary proxy to a person designated by the Board of Directors of the Company to vote such Deposited Securities&#59; provided that (i) no such instruction shall be deemed given and no such discretionary proxy shall be given with respect to any matter as to which the Board of Directors of the Company informs the Depositary (and the Board of Directors of the Company agrees to provide such information promptly in writing) that (x) the Board of Directors of the Company does not wish such proxy given, (y) substantial opposition exists or (z) materially affects the rights of holders of Shares, and (ii) such discretionary proxy shall be given only if such notice to Holders indicated, to the extent practicable, the manner in which such designated person will vote such proxy.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Cash Distributions</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Whenever the Depositary or the Custodian shall receive any cash dividend or other cash distribution upon any Deposited Securities, the Depositary shall, after any necessary conversion of such distribution into U.S. dollars and after fixing a record date in respect thereof, promptly distribute the amount thus received to the Holders on such record date, in proportion to the number of ADSs representing the right to receive such Deposited Securities held by each of them respectively&#59; provided that the Depositary shall make appropriate adjustments in the amounts so distributed in respect of (a) any of such Deposited Securities being not entitled, by reason of date of issuance or otherwise, to receive all or any portion of such distribution or (b) any amounts (i) withheld or requested to be withheld by the Company, the Custodian or the Depositary from any such distribution on account of taxes or other governmental charges, or (ii) charged by the Depositary in connection with the conversion of foreign currency into U.S. dollars. The Depositary shall distribute only such amount as can be distributed without distributing to any Holder a fraction of one cent, and any balance not so distributable shall be held by the Depositary (without liability for interest therein) and shall be added to and become </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">part of the next sum received by the Depositary for distribution to Holders of Receipts then outstanding.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Share Distributions</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If any distribution upon any Deposited Securities consists of a dividend in, or free distribution of, Shares, the Depositary may, or if the Company so requests, the Depositary shall distribute to the Holders on a record date fixed, in proportion to the number of ADSs representing the right to receive such Deposited Securities held by each of them respectively, additional Receipts for an aggregate number of ADSs representing the number of Shares received as such dividend or free distribution. In lieu of delivering Receipts for fractional ADSs in the case of any such distribution, the Depositary shall sell the amount of Shares represented by the aggregate of such fractions and distribute the net proceeds of such sale to the Holders entitled thereto as in the case of a distribution received in cash.  If additional Receipts are not so distributed, each ADS shall thenceforth also represent the right to receive its proportionate interest in the additional Shares so distributed upon such Deposited Securities. The Depositary may withhold any distribution of Receipts to Holders having an address in the United States until the Company furnishes to the Depositary (a) evidence that a registration statement under the Securities Act of 1933 covering such Receipts and related Shares is in effect or (b) an opinion of counsel for the Company in the United States satisfactory to the Depositary to the effect that such distribution does not require registration under the Securities Act of 1933&#59; provided that the Company shall not be obliged to so register, furnish such evidence or furnish such opinion.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Rights Distributions</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the Company shall offer or cause to be offered to the holders of any Deposited Securities any rights to subscribe for additional Shares or any rights of any nature, the Depositary shall have discretion as to  the procedure to be followed in making such rights available to the Holders or in disposing of such rights and distributing the net proceeds thereof as in the case of a distribution received in cash&#59; provided that the Depositary shall, if requested by the Company, take action as follows&#58; (a) if at the time of the offering of any such rights the Depositary determines that it is lawful and feasible to make such rights available to Holders by means of warrants or otherwise, the Depositary shall distribute such warrants or other instruments therefore in such form as it may determine to the Holders on a record date fixed, in proportion to the number of ADSs representing such Deposited Securities held by each of them respectively, or employ such other method as it may deem feasible in order to facilitate the exercise, sale or transfer of rights by such Holders&#59; or (b) if at the time of any such offering of any such rights the Depositary determines that it is not lawful or not feasible to make such rights available to Holders by means of warrants or otherwise, or if the rights represented by such warrants or such other instruments are not exercised and appear to be about to lapse, the Depositary shall sell such rights or such warrants or other instruments on a stock exchange on which such rights are listed or over-the-counter market on which such rights are traded (or, with the written approval of the Company, at private sale), at such place or places and upon such terms as it may deem proper, and may allocate the proceeds of such sales for account of the Holders otherwise entitled to such rights, warrants or other instruments, upon an averaged or other practicable basis without regard to any distinctions among such Holders because of exchange restrictions, or the date of delivery of any Receipt or Receipts, or otherwise, and distribute the net proceeds so allocated to the Holders entitled thereto to the extent practicable as in the case of a distribution received in cash.  The Depositary will not offer such rights to Holders having an address in the United States, unless the Company furnishes to the Depositary (x) evidence that a registration statement under the Securities Act of 1933 covering such offering is in effect or (y) an opinion of counsel for the Company in the United States satisfactory to the Depositary to the effect that such offering does not require registration under the Securities Act of 1933&#59; provided that (i) if such rights are not offered to the Holders, the Depositary shall sell such rights and distribute the proceeds of such sale as specified in clause (b) above and (ii) the Company shall not be obligated to so register, furnish such evidence or furnish such opinion. The Holders alone shall be responsible for payment of any taxes or other governmental charges due as a result of sales or transfers.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Other Distributions</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Whenever the Depositary or the Custodian shall receive any distribution other than cash, Shares or rights upon any Deposited Securities, subject to the Deposit Agreement, the Depositary shall cause such securities or property to be distributed to the Holders on a record date fixed, in proportion to the number of ADSs representing such Deposited Securities held by each of them respectively, in any manner that the Depositary may deem equitable and practicable for accomplishing such distribution&#59; provided that if in the opinion of the Depositary such distribution cannot be made proportionately among the Holders entitled thereto, or if for any other reason (including any tax withholding or securities laws requirement) the Depositary deems such distribution not to be feasible, the Depositary may adopt such method as it may deem equitable and practicable for the purpose of effecting such distribution, including the sale (at public or private sale in any manner that may be commercially reasonable) of the securities or property thus received, or any part thereof, and the distribution by the Depositary to the Holders entitled thereto of the net proceeds of any such sale as in the case of a distribution received in cash&#59; provided further that if any securities to be sold pursuant to a rights distribution are listed on a stock exchange or are traded on an over-the-counter market, such securities shall be sold on such a stock exchange or over-the-counter market. The Holders alone shall be responsible for payment of any taxes or other governmental charges due as a result of sales or transfers.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Notices and Reports to Holders</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On or before the first date on which the Company gives notice, by publication or otherwise, of any meeting of holders of Shares or other Deposited Securities, or of any adjourned meeting of such holders, or of the taking of any action by such holders other than at a meeting, the Company shall transmit to the Custodian a written English language version of the notice hereof in the form given or to be given, by publication or otherwise, to holders of Shares or other Deposited Securities. Except in the case of Peruvian ADSs, as further described in the Deposit Agreement, the Depositary will, at the Company&#8217;s expense, arrange for the prompt transmittal by the Custodian to the Depositary of such notices and of English language versions of any reports and other communications that are made generally available by the Company to holders of its Shares or other Deposited Securities and arrange for the mailing, at the Company&#8217;s expense, of copies thereof to all Holders, or on such other basis as the Company may advise the Depositary may be required by any applicable law, regulation or stock exchange requirement. The Company has delivered to the Depositary and the Custodian a copy of the provisions of or governing the Shares and any other Deposited Securities issued by the Company or any affiliate of the Company, and promptly upon any amendment thereto or change therein, the Company shall deliver to the Depositary and the Custodian a copy in English of such provisions as so amended or changed. The Depositary may rely upon such copy for all purposes of the Deposit Agreement. The Depositary will, at the expense of the Company, make such copy and such notices, reports and other communications available for inspection by Holders at the Depositary&#8217;s Office, at the office of the Custodian and at any other designated transfer offices.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Changes affecting Deposited Securities</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon any change in nominal value, split-up, consolidation, cancellation or any other reclassification of Deposited Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the Company or to which it is a party, any securities that shall be received by the Depositary in exchange for, or in conversion, replacement, or otherwise in respect of, Deposited Securities shall be treated as Deposited Securities under the Deposit Agreement, and the Receipts shall thenceforth evidence ADSs representing the right to receive the Deposited Securities including the securities so received to the extent additional Receipts are not delivered pursuant to the following sentence. In any such case the Depositary may with the Company's approval, and shall if the Company shall so request, execute and deliver additional Receipts as in the case of a dividend of Shares, or call for the surrender of outstanding Receipts to be exchanged for new Receipts specifically describing such newly received Deposited Securities.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">17</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Amendment of the Deposit Agreement</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Receipts and any provisions of the Deposit Agreement may at any time and from time to time be amended by agreement between the Company and the Depositary in any respect. Any amendment that shall impose or increase any fees or charges (other than stock transfer or other taxes and other governmental charges, transfer or registration fees, cable, telex or facsimile transmission costs, delivery costs and expenses of the Depositary in connection with the conversion of foreign currency into U.S. dollars) or that shall otherwise prejudice any substantial existing right of Holders, shall not, however, become effective as to outstanding Receipts until the expiration of one month after notice of such amendment shall have been given to the Holders. Every Holder at the expiration of one month after such notice shall be deemed by holding such Receipt to consent and agree to such amendment and to be bound by the Deposit Agreement or the Receipts as amended thereby. In no event shall any amendment impair the right of the Holder of any Receipt to surrender such Receipt and receive therefore the Deposited Securities represented thereby, except in order to comply with mandatory provisions of applicable law.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Termination of the Deposit Agreement</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Depositary shall at any time at the direction of the Company terminate the Deposit Agreement by giving notice of such termination to the Holders at least 30 days prior to the date fixed in such notice for such termination. The Depositary may terminate the Deposit Agreement, upon the notice set forth in the preceding sentence, at any time after 90 days after the Depositary shall have delivered to the Company its written resignation, provided that no successor depositary shall have been appointed and accepted its appointment as provided in the Deposit Agreement before the end of such 90 days. After the date so fixed for termination, the Depositary and its agents shall perform no further acts under the Deposit Agreement, except to advise Holders of such termination, to receive and hold distributions on Deposited Securities (or sell property or rights or convert Deposited Securities into cash as provided in the Deposit Agreement) and to deliver Deposited Securities in exchange for Receipts surrendered to the Depositary. As soon as practicable after the expiration of six months from the date so fixed for termination, the Depositary shall sell the Deposited Securities and may thereafter (so long as it may lawfully do so) hold the net proceeds of any such sale, together with any other cash then held by it hereunder, without liability for interest, for the pro rata benefit of the Holders of Receipts that have not theretofore been surrendered. After making such sale, the Depositary shall be discharged from all obligations in respect of the Receipts and the Deposit Agreement, except to account for such net proceeds and other cash. After the date so fixed for termination, the Company shall be discharged from all obligations under the Deposit Agreement except for its obligations to the Depositary and its agents as further described in the Deposit Agreement.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Rights that holders of ADRs have to inspect the books of the Depositary and the list of Receipt Holders </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Depositary shall keep at its transfer office a register for the registration of Receipts and transfers of Receipts that at all reasonable times shall be open for inspection by the Holders and the Company, provided that such inspection shall not be for the purpose of communicating with Holders in the interest of a business or object other than the business of the Company or a matter related to the Deposit Agreement or the Receipts. The Depositary may close the register at any time or from time to time, when deemed expedient by it in connection with the performance of its duties hereunder and shall close the register when so requested by the Company, provided that the register shall be open at all reasonable times for inspection by the Company.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Withdrawal of Deposited Securities</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon surrender of a Receipt (properly endorsed in blank or accompanied by proper instruments of transfer in blank, to the extent required by the Depositary), at the Depositary&#8217;s Office or at such other offices as it may designate, together with the Holder's written instructions directing the Depositary to cause the Deposited Securities the right to receive which is represented by the ADSs evidenced by such Receipt to be withdrawn and delivered to or upon the written order </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">18</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of the person or persons designated in such instructions, the Depositary shall request the execution of new Transfer Documents to or upon the written order of the person or persons designated in such instructions (&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">New Transfer Documents</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;), and shall direct the Custodian to make Delivery without unreasonable delay, subject to the Deposit Agreement and to the provisions of or governing Deposited Securities, to or upon the written order of the person or persons designated in such instructions, of the Deposited Securities at the time represented by the ADSs evidenced by such Receipt, together with the New Transfer Documents, and the Custodian shall so make Delivery of such Deposited Securities and delivery of such New Transfer Documents at the office of the Custodian or at the Depositary&#8217;s Office, as the Holder requests, except that the Depositary may, in its discretion, at the request, risk and expense of the Holder make Delivery of such Deposited Securities and delivery of such New Transfer Documents, without unreasonable delay to such person or persons at any other place requested by the Holder in such instructions. The holder shall specify whether Delivery of Deposited Securities should be effected through (i) the recording of the transfer of such security by the entity or entities duly approved by Spanish law or (ii) the delivery of a physical certificate representing such Deposited Securities. Instructions of the Holder shall be given by letter or, at the request, risk and expense of the Holder, by cable, telex or facsimile transmission. Notwithstanding any provision of the Deposit Agreement or the receipts, the Depositary may restrict withdrawals of Deposited Securities only for the reasons set forth in General Instruction IA(1) to Form F-6 under the Securities Act of 1933.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Limitations on execution and delivery and transfer of Receipts and withdrawal of Deposited Securities</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a condition precedent to the execution and delivery, registration, registration of transfer, split-up or combination of any Receipt, the delivery of any distribution therein or the withdrawal of any Deposited Securities, the Depositary or the Custodian may, and upon instructions of the Company shall, require of the Holder, the presentor of the Receipt or the depositor of Shares&#58; (a) payment of a sum sufficient to pay or reimburse any of them for payment of any of the following (unless payable by the Company as set forth in the Deposit Agreement)&#58; (i) any stock transfer or other tax (including, but not limited to, any Spanish income tax) or other governmental  charge with respect thereto, (ii) any stock transfer or registration fees for the registration of Shares or other Deposited Securities upon any applicable register or brokerage fees applied by the Spanish stock exchanges or the relevant member of such stock exchanges acting as a broker-dealer or any other person authorized under Spanish law to act in a similar capacity and (iii) any charges of the Depositary upon delivery of Receipts against deposits or Shares and upon withdrawal of Deposited Securities against surrender of Receipts set forth in the Deposited Agreement&#59; (b) the production of proof satisfactory to either the Depositary or the Custodian, as the case may be, as to the identity and genuineness of any signature and as to any other matter contemplated under the Deposit Agreement&#59; (c) delivery of any forms required by Spanish law or custom in connection with Delivery of Deposited Securities or with the execution or delivery of transfer Documents&#59; and (d) compliance with such reasonable regulations, requirements or conditions, if any, as the Depositary may establish consistent with the provisions of the Deposit Agreement. The delivery of Receipts against deposits of Shares may be suspended, deposits of Shares may be refused, or the registration of transfer of Receipts, their split-up or combination or the withdrawal of Deposited Securities may be suspended, in particular instances or generally, when the Receipt register or any register for Shares or other Deposited Securities is closed, or at any time or from time to time when any such action is deemed necessary or advisable by the Depositary or the Company for any reason, including without limitation any requirement of law or of any government or governmental body or commission, any provision of the Deposit Agreement or the provisions of or governing Deposited Securities, any meeting of shareholders or any payment of dividends. Without limitation of the foregoing, the Depositary shall not knowingly accept for deposit under the Deposit Agreement any Shares required to be registered pursuant to the provisions of the Securities Act of 1933, unless a registration statement under the Securities Act of 1933 is in effect as to such Shares. The Depositary will use reasonable efforts to comply with written instructions of the Company not to accept for deposit hereunder any Shares identified in such instructions at such times and under such circumstances as may reasonably be specified in </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">19</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">such instructions in order to facilitate the Company's compliance with the securities laws in the United States. The Depositary may issue Receipts against rights to receive Shares from the Company or any registrar, transfer agent, clearing agency or other entity recording Share ownership or transactions. The Depositary may issue Receipts against other rights to receive Shares (a &#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">pre-release</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;) only if (x) such Receipts are fully collateralized (marked to market daily) with cash or U.S. government securities until such Shares are deposited, (y) the applicant for such Receipts represents in writing that it owns such Shares, has assigned all beneficial right, title and interest in such Shares to the Depositary and shall not dispose of such Shares other than in satisfaction of the pre-release (no other evidence of ownership is required or time of delivery specified) and (z) all such Receipts represent not more than 20% of Shares actually deposited. Such collateral, but not the earnings thereon, shall be held for the benefit of Holders. The Depositary may retain for its own account any compensation for the issuance of Receipts against such other rights including without limitation earnings on the collateral securing such other rights.</font></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Obligations Limited</font></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company assumes no obligation and shall be subject to no liability under the Deposit Agreement or the Receipts to Holders or other persons, except to perform such obligations as are specifically set forth and undertaken by it to perform in the Deposit Agreement without negligence or bad faith. Each of the Depositary and its agents assumes no obligation and shall be subject to no liability under the Deposit Agreement or the Receipts to Holders or other persons, except to perform such obligations as are specifically set forth and undertaken by it to perform in the Deposit Agreement without negligence or bad faith. Without limitation of the preceding sentence, none of the Depositary, its agents or the Company shall be (a) under any obligation to appear in, prosecute or defend any action, suit or other proceeding on behalf of the Holders in respect of any Deposited Securities or the Receipts that in its opinion may involve it in expense or liability, unless indemnity satisfactory to it against all expense and liability be furnished as often as may be required, or (b) liable for any action or inaction by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder, or any other person believed by it to be competent to give such advice or information. Each of the Depositary, its agents and the Company may rely and shall be protected in acting upon any written notice, request, direction or other document believed by it to be genuine and to have been signed or presented by the proper party or parties. The Depositary and its agents shall not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities, for the manner in which any such vote is cast or for the effect of any such vote.  The Depositary and its agents may own and deal in any class of securities of the Company and its affiliates and in Receipts&#59; provided that the only obligation of the Company to the Depositary or its agents with respect to such activities shall be those owed to holders of such securities generally. No disclaimer of liability under the Securities Act of 1933 is intended by any provision of the Deposit Agreement.</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-24.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:16.42pt;text-decoration:underline">DESCRIPTION OF DEBT SECURITIES</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-24.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Debt securities issued by Telef&#243;nica Emisiones, S.A.U</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This section describes the following debt securities issued by Telef&#243;nica Emisiones, S.A.U. (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Issuer</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) and guaranteed by Telef&#243;nica (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Guarantor</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) (together, the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Shelf Notes</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following summary of the Shelf Notes, the Guarantee (as defined below) and the relevant indenture does not purport to be complete and is subject, and is qualified in its entirety by reference, to all of the provisions of the Shelf Notes, the Guarantee and the relevant indenture, as applicable, including the definitions of the terms provided therein. Upon request, holders of Shelf Notes may obtain a copy of the public deed of issuance and the relevant indenture from the Trustee (as defined below).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$1,500,000,000 Fixed Rate Senior Notes Due 2027   </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">20</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1,500,000,000 aggregate principal amount of fixed rate senior notes due 2027 (for purposes of this summary description, the &#8220;notes&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CUSIP&#58; 87938W AT0</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ISIN&#58; US87938WAT09</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NYSE trading symbol&#58; TEF&#47;27</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For purposes of this summary description, the term &#8220;indenture&#8221; means the Indenture dated May 22, 2012, among the Issuer, the Guarantor and the Trustee, as supplemented by the Fourth Supplemental Indenture dated as of March 8, 2017, among the Issuer, the Guarantor and the Trustee.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM AND DENOMINATION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes were issued in registered form in denominations of $1,000.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INTEREST</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes bear interest at 4.103% per year, payable on March 8 and September 8 of each year.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on the notes is computed on the basis of a 360-day year of twelve 30-day months. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MATURITY</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; March 8, 2027.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REDEMPTION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Early redemption for taxation reasons&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in relation to the notes, (i) as a result of any change in the laws or regulations of the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax, or in the administrative interpretation or administration of any such laws or regulations which becomes effective on or after the date of issuance of the notes, (x) the Issuer or the Guarantor, as the case may be, are or would be required to pay any Additional Amounts (as provided for in the indenture) or (y) the Guarantor is or would be required to deduct or withhold tax on any payment to the Issuer to enable it to make any payment of principal, premium, if any, or interest on the notes, provided that such payment cannot, with reasonable effort by the Guarantor, be structured to avoid such deduction or withholding, and (ii) such circumstances are evidenced by the delivery by the Issuer or the Guarantor, as the case may be, to the Trustee of a certificate signed by an authorized officer or director of the Issuer or the Guarantor, as the case may be, stating that such circumstances prevail and describing the facts leading to such circumstances, together with an opinion of independent legal advisers of recognized standing to the effect that such circumstances prevail, the Issuer or the Guarantor, as the case may be, may, at their respective election and having given not less than 30 nor more than 60 days&#8217; notice (ending on a day upon which interest is payable) to the holders in accordance with the terms described under the indenture, redeem all of the outstanding notes at a redemption price equal to their principal amount, together with accrued and unpaid interest, if any, thereon to but excluding the redemption date. No such notice of redemption may be given earlier than 150 days prior to the date on which the Issuer or the Guarantor would be obligated to pay such Additional Amounts (as provided for in the indenture) were a payment in respect of the notes then due.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional redemption&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer may, at its election and having given not less than 30 nor more than 60 days&#8217; notice to the holders of the notes in accordance with the terms described under the indenture, redeem from time to time all or a portion of the outstanding notes at a redemption price which will be equal to the greater of (i) 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date of such notes&#59; and (ii) as determined by an independent investment banking institution of national standing appointed by the Issuer and the Guarantor, the sum of the present values of the remaining </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">21</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">scheduled payments of principal thereof and interest thereon (exclusive of interest accrued thereon to the redemption date) discounted to the redemption date of notes being redeemed on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 45 basis points, plus accrued and unpaid interest on the principal amount of such notes being redeemed to, but excluding, the redemption date of such notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Day</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any day other than a Saturday, a Sunday or any other day on which banking institutions in New York, New York or the city of Madrid, Spain are authorized or required by law or executive order to close.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Issue</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means the United States Treasury security selected by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor as having a maturity comparable to the remaining term (&#8220;Remaining Life&#8221;) of the notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the independent investment banking institution of national standing appointed by the Issuer and the Guarantor obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations or, if only one such quotation is obtained, such quotation. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer Quotations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;  means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to such independent investment banking institution by such Reference Treasury Dealer at 5.00 p.m. on the third New York Business Day preceding such redemption date. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Deale</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">r&#8221; means each of (1) Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman, Sachs &#38; Co., HSBC Securities (USA) Inc., J.P.Morgan Securities LLC, Mizuho Securities USA Inc. and their affiliates or their respective successors, provided that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a &#8220;Primary Treasury Dealer&#8221;), the Issuer and the Guarantor will substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Issuer and the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treasury Rate</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated &#8220;H.15(519)&#8221; or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption &#8220;Treasury Constant Maturities&#8221;, for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), (2) if the period from the redemption date to the maturity date of such notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year, or (3) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated by the independent investment banking institution of national </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">22</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">standing appointed by the Issuer and the Guarantor on the third New York Business Day preceding the redemption date.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$2,000,000,000 Fixed Rate Guaranteed Senior Notes Due 2036 </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$2,000,000,000 aggregate principal amount of fixed rate senior notes due 2036 (for purposes of this summary description, the &#8220;notes&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CUSIP&#58; 87938W AC7</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ISIN&#58; US87938WAC73</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NYSE trading symbol&#58; TEF&#47;36</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For purposes of this summary description, the term &#8220;indenture&#8221; means the Indenture dated June 20, 2006, among the Issuer, the Guarantor and JPMorgan Chase Bank, N.A. (succeeded by the Trustee), as supplemented by the Fourth Supplemental Indenture dated as of June 20, 2006, among the Issuer, the Guarantor and JPMorgan Chase Bank, N.A. (succeeded by the Trustee).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM AND DENOMINATION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes were issued in registered form in denominations of $1,000.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INTEREST</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes bear interest at 7.045% per year, payable on June 20 and December 20 of each year.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on the notes is computed on the basis of a 360-day year of twelve 30-day months. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MATURITY</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; June 20, 2036.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REDEMPTION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Early redemption for taxation reasons&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in relation to the notes, (i) as a result of any change in the laws or regulations of the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax, or in the administrative interpretation or administration of any such laws or regulations which becomes effective on or after the date of issuance of the notes, (x) the Issuer or the Guarantor, as the case may be, are or would be required to pay any Additional Amounts (as provided for in the indenture) or (y) the Guarantor is or would be required to deduct or withhold tax on any payment to the Issuer to enable it to make any payment of principal, premium, if any, or interest on the notes, provided that such payment cannot, with reasonable effort by the Guarantor, be structured to avoid such deduction or withholding, and (ii) such circumstances are evidenced by the delivery by the Issuer or the Guarantor, as the case may be, to the Trustee of a certificate signed by an authorized officer or director of the Issuer or the Guarantor, as the case may be, stating that such circumstances prevail and describing the facts leading to such circumstances, together with an opinion of independent legal advisers of recognized standing to the effect that such circumstances prevail, the Issuer or the Guarantor, as the case may be, may, at their respective election and having given not less than 30 nor more than 60 days&#8217; notice (ending on a day upon which interest is payable) to the holders in accordance with the terms described under the indenture, redeem all of the outstanding notes at a redemption price equal to their principal amount, together with accrued and unpaid interest, if any, thereon to but excluding the redemption date. No such notice of redemption may be given earlier than 150 days prior to the date on which the Issuer or the Guarantor would be obligated to pay such Additional Amounts (as provided for in the indenture) were a payment in respect of the notes then due.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional redemption&#58;</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">23</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer may, at its election and having given not less than 30 nor more than 60 days&#8217; notice to the holders of the notes in accordance with the terms described under the indenture, redeem from time to time all or a portion of the outstanding notes at a redemption price which will be equal to the greater of (i) 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date of such notes&#59; and (ii) as determined by an independent investment banking institution of national standing appointed by the Issuer and the Guarantor, the sum of the present values of the remaining scheduled payments of principal thereof and interest thereon (exclusive of interest accrued thereon to the redemption date) discounted to the redemption date of notes being redeemed on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus accrued and unpaid interest on the principal amount of such notes being redeemed to, but excluding, the redemption date of such notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Day</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any day other than a Saturday, a Sunday or any other day on which banking institutions in New York, New York or the city of Madrid, Spain are authorized or required by law or executive order to close.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Issue</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means the United States Treasury security selected by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor as having a maturity comparable to the remaining term (&#8220;Remaining Life&#8221;) of the notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the independent investment banking institution of national standing appointed by the Issuer and the Guarantor obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations or, if only one such quotation is obtained, such quotation. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer Quotations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to such independent investment banking institution by such Reference Treasury Dealer at 5.00 p.m. on the third New York Business Day preceding such redemption date. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means each of (1) Lehman Brothers Inc. and its successors, provided that if the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a &#8220;Primary Treasury Dealer&#8221;), the Issuer and the Guarantor will substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Issuer and the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treasury Rate</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated &#8220;H.15(519)&#8221; or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption &#8220;Treasury Constant Maturities&#8221;, for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), (2) if the period from the redemption date to the maturity date of such notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used, or (3) if such release (or any successor release) is </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor on the third New York Business Day preceding the redemption date.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$750,000,000 Fixed Rate Senior Notes Due 2038   </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$750,000,000 aggregate principal amount of fixed rate senior notes due 2038 (for purposes of this summary description, the &#8220;notes&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CUSIP&#58; 87938W AV5</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ISIN&#58; US87938WAV54</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NYSE trading symbol&#58; TEF&#47;38</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For purposes of this summary description, the term &#8220;indenture&#8221; means the Indenture dated May 22, 2012, among the Issuer, the Guarantor and the Trustee, as supplemented by the Sixth Supplemental Indenture dated as of March 6, 2018, among the Issuer, the Guarantor and the Trustee.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM AND DENOMINATION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes were issued in registered form in denominations of $1,000.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INTEREST</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes bear interest at 4.665% per year, payable on March 6 and September 6 of each year.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on the notes is computed on the basis of a 360-day year of twelve 30-day months. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MATURITY</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; March 6, 2038.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REDEMPTION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Early redemption for taxation reasons&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in relation to the notes, (i) as a result of any change in the laws or regulations of the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax, or in the administrative interpretation or administration of any such laws or regulations which becomes effective on or after the date of issuance of the notes, (x) the Issuer or the Guarantor, as the case may be, are or would be required to pay any Additional Amounts (as provided for in the indenture) or (y) the Guarantor is or would be required to deduct or withhold tax on any payment to the Issuer to enable it to make any payment of principal, premium, if any, or interest on the notes, provided that such payment cannot, with reasonable effort by the Guarantor, be structured to avoid such deduction or withholding, and (ii) such circumstances are evidenced by the delivery by the Issuer or the Guarantor, as the case may be, to the Trustee of a certificate signed by an authorized officer or director of the Issuer or the Guarantor, as the case may be, stating that such circumstances prevail and describing the facts leading to such circumstances, together with an opinion of independent legal advisers of recognized standing to the effect that such circumstances prevail, the Issuer or the Guarantor, as the case may be, may, at their respective election and having given not less than 30 nor more than 60 days&#8217; notice (ending on a day upon which interest is payable) to the holders in accordance with the terms described under the indenture, redeem all of the outstanding notes at a redemption price equal to their principal amount, together with accrued and unpaid interest, if any, thereon to but excluding the redemption date. No such notice of redemption may be given earlier than 150 days prior to the date on which the Issuer or the Guarantor would be </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">obligated to pay such Additional Amounts (as provided for in the indenture) were a payment in respect of the notes then due.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional redemption&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer may, at its election and having given not less than 30 nor more than 60 days&#8217; notice to the holders of the notes in accordance with the terms described under the indenture, redeem from time to time all or a portion of the outstanding notes at a redemption price which will be equal to the greater of (i) 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date of such notes&#59; and (ii) as determined by an independent investment banking institution of national standing appointed by the Issuer and the Guarantor, the sum of the present values of the remaining scheduled payments of principal thereof and interest thereon (exclusive of interest accrued thereon to the redemption date) discounted to the redemption date of notes being redeemed on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points, plus accrued and unpaid interest on the principal amount of such notes being redeemed to, but excluding, the redemption date of such notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Day</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any day other than a Saturday, a Sunday or any other day on which banking institutions in New York, New York or the city of Madrid, Spain are authorized or required by law or executive order to close.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Issue</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means the United States Treasury security selected by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor as having a maturity comparable to the remaining term (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Remaining Life</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;)  of the notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the independent investment banking institution of national standing appointed by the Issuer and the Guarantor obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations or, if only one such quotation is obtained, such quotation. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer Quotations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to such independent investment banking institution by such Reference Treasury Dealer at 5.00 p.m. on the third New York Business Day preceding such redemption date. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means each of (1) Barclays Capital Inc, Goldman, Sachs &#38; Co. LLC, J.P.Morgan Securities LLC. Merrill Lynch, Pierce, Fenner &#38; Smith Incorporated and their respective affiliates or their respective successors, provided that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a &#8220;Primary Treasury Dealer&#8221;), the Issuer and the Guarantor will substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Issuer and the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treasury Rate</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated &#8220;H.15(519)&#8221; or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption &#8220;Treasury Constant Maturities&#8221;, for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">26</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), (2) if the period from the redemption date to the maturity date of such notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year, or (3) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor on the third New York Business Day preceding the redemption date.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$2,500,000,000 Fixed Rate Senior Notes Due 2047    </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$2,500,000,000 aggregate principal amount of fixed rate senior notes due 2047 (for purposes of this summary description, the &#8220;notes&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CUSIP&#58; 87938W AU7</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ISIN&#58; US87938WAU71</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NYSE trading symbol&#58; TEF&#47;47</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For purposes of this summary description, the term &#8220;indenture&#8221; means the Indenture dated May 22, 2012, among the Issuer, the Guarantor and the Trustee, as supplemented by the Fifth Supplemental Indenture dated as of March 8, 2017, among the Issuer, the Guarantor and the Trustee.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM AND DENOMINATION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes were issued in registered form in denominations of $1,000.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INTEREST</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes bear interest at 5.213% per year, payable on March 8 and September 8 of each year.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on the notes is computed on the basis of a 360-day year of twelve 30-day months. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MATURITY</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; March 8, 2047.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REDEMPTION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Early redemption for taxation reasons&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in relation to the notes, (i) as a result of any change in the laws or regulations of the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax, or in the administrative interpretation or administration of any such laws or regulations which becomes effective on or after the date of issuance of the notes, (x) the Issuer or the Guarantor, as the case may be, are or would be required to pay any Additional Amounts (as provided for in the indenture) or (y) the Guarantor is or would be required to deduct or withhold tax on any payment to the Issuer to enable it to make any payment of principal, premium, if any, or interest on the notes, provided that such payment cannot, with reasonable effort by the Guarantor, be structured to avoid such deduction or withholding, and (ii) such circumstances are evidenced by the delivery by the Issuer or the Guarantor, as the case may be, to the Trustee of a certificate signed by an authorized officer or director of the Issuer or the Guarantor, as the case may be, stating that such circumstances prevail and describing the facts leading to such circumstances, together with an opinion of independent legal advisers of recognized standing to the effect that such circumstances prevail, the Issuer or the Guarantor, as the case may be, may, at their respective election and having given not less than 30 nor </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">27</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">more than 60 days&#8217; notice (ending on a day upon which interest is payable) to the holders in accordance with the terms described under the indenture, redeem all of the outstanding notes at a redemption price equal to their principal amount, together with accrued and unpaid interest, if any, thereon to but excluding the redemption date. No such notice of redemption may be given earlier than 150 days prior to the date on which the Issuer or the Guarantor would be obligated to pay such Additional Amounts (as provided for in the indenture) were a payment in respect of the notes then due.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional redemption&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer may, at its election and having given not less than 30 nor more than 60 days&#8217; notice to the holders of the notes in accordance with the terms described under the indenture, redeem from time to time all or a portion of the outstanding notes at a redemption price which will be equal to the greater of (i) 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date of such notes&#59; and (ii) as determined by an independent investment banking institution of national standing appointed by the Issuer and the Guarantor, the sum of the present values of the remaining scheduled payments of principal thereof and interest thereon (exclusive of interest accrued thereon to the redemption date) discounted to the redemption date of notes being redeemed on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 45 basis points, plus accrued and unpaid interest on the principal amount of such notes being redeemed to, but excluding, the redemption date of such notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Day</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any day other than a Saturday, a Sunday or any other day on which banking institutions in New York, New York or the city of Madrid, Spain are authorized or required by law or executive order to close.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Issue</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means the United States Treasury security selected by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor as having a maturity comparable to the remaining term (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Remaining Life</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) of the notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the independent investment banking institution of national standing appointed by the Issuer and the Guarantor obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations or, if only one such quotation is obtained, such quotation. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer Quotations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to such independent investment banking institution by such Reference Treasury Dealer at 5.00 p.m. on the third New York Business Day preceding such redemption date. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means each of (1) Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman, Sachs &#38; Co., HSBC Securities (USA) Inc., J.P.Morgan Securities LLC, Mizuho Securities USA Inc. and their affiliates or their respective successors, provided that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a &#8220;Primary Treasury Dealer&#8221;), the Issuer and the Guarantor will substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Issuer and the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treasury Rate</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">28</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">recently published statistical release designated &#8220;H.15(519)&#8221; or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption &#8220;Treasury Constant Maturities&#8221;, for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), (2) if the period from the redemption date to the maturity date of such notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year, or (3) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor on the third New York Business Day preceding the redemption date.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$1,250,000,000 Fixed Rate Senior Notes Due 2048   </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1,250,000,000 aggregate principal amount of fixed rate senior notes due 2048 (for purposes of this summary description, the &#8220;notes&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CUSIP&#58; 87938W AW3</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ISIN&#58; US87938WAW38</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NYSE trading symbol&#58; TEF&#47;48</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For purposes of this summary description, the term &#8220;indenture&#8221; means the Indenture dated May 22, 2012, among the Issuer, the Guarantor and the Trustee, as supplemented by the Seventh Supplemental Indenture dated as of March 6, 2018, among the Issuer, the Guarantor and the Trustee.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM AND DENOMINATION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes were issued in registered form in denominations of $1,000.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INTEREST</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes bear interest at 4.895% per year, payable on March 6 and September 6 of each year.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on the notes is computed on the basis of a 360-day year of twelve 30-day months. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MATURITY</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; March 6, 2048.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REDEMPTION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Early redemption for taxation reasons&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in relation to the notes, (i) as a result of any change in the laws or regulations of the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax, or in the administrative interpretation or administration of any such laws or regulations which becomes effective on or after the date of issuance of the notes, (x) the Issuer or the Guarantor, as the case may be, are or would be required to pay any Additional Amounts (as provided for in the indenture) or (y) the Guarantor is or would be required to deduct or withhold tax on any payment to the Issuer to enable it to make any payment of principal, premium, if any, or interest on the notes, provided that such payment cannot, with reasonable effort by the Guarantor, be structured to avoid such deduction or withholding, and (ii) such </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">29</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">circumstances are evidenced by the delivery by the Issuer or the Guarantor, as the case may be, to the Trustee of a certificate signed by an authorized officer or director of the Issuer or the Guarantor, as the case may be, stating that such circumstances prevail and describing the facts leading to such circumstances, together with an opinion of independent legal advisers of recognized standing to the effect that such circumstances prevail, the Issuer or the Guarantor, as the case may be, may, at their respective election and having given not less than 30 nor more than 60 days&#8217; notice (ending on a day upon which interest is payable) to the holders in accordance with the terms described under the indenture, redeem all of the outstanding notes at a redemption price equal to their principal amount, together with accrued and unpaid interest, if any, thereon to but excluding the redemption date. No such notice of redemption may be given earlier than 150 days prior to the date on which the Issuer or the Guarantor would be obligated to pay such Additional Amounts (as provided for in the indenture) were a payment in respect of the notes then due.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional redemption&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer may, at its election and having given not less than 30 nor more than 60 days&#8217; notice to the holders of the notes in accordance with the terms described under the indenture, redeem from time to time all or a portion of the outstanding notes at a redemption price which will be equal to the greater of (i) 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date of such notes&#59; and (ii) as determined by an independent investment banking institution of national standing appointed by the Issuer and the Guarantor, the sum of the present values of the remaining scheduled payments of principal thereof and interest thereon (exclusive of interest accrued thereon to the redemption date) discounted to the redemption date of notes being redeemed on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points, plus accrued and unpaid interest on the principal amount of such notes being redeemed to, but excluding, the redemption date of such notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Day</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any day other than a Saturday, a Sunday or any other day on which banking institutions in New York, New York or the city of Madrid, Spain are authorized or required by law or executive order to close.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Issue</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means the United States Treasury security selected by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor as having a maturity comparable to the remaining term (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Remaining Life</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) of the notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes being redeemed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the independent investment banking institution of national standing appointed by the Issuer and the Guarantor obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations or, if only one such quotation is obtained, such quotation. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer Quotations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to such independent investment banking institution by such Reference Treasury Dealer at 5.00 p.m. on the third New York Business Day preceding such redemption date. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means each of (1) Barclays Capital Inc, Goldman, Sachs &#38; Co. LLC, J.P.Morgan Securities LLC. Merrill Lynch, Pierce, Fenner &#38; Smith Incorporated and their respective affiliates or their respective successors, provided that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a &#8220;Primary Treasury </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">30</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dealer&#8221;), the Issuer and the Guarantor will substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Issuer and the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treasury Rate</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated &#8220;H.15(519)&#8221; or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption &#8220;Treasury Constant Maturities&#8221;, for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), (2) if the period from the redemption date to the maturity date of such notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year, or (3) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor on the third New York Business Day preceding the redemption date.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$1,250,000,000 Fixed Rate Senior Notes Due 2049   </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1,250,000,000 aggregate principal amount of fixed rate senior notes due 2049 (for purposes of this summary description, the &#8220;notes&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CUSIP&#58; 87938W AX1</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ISIN&#58; US87938WAX11</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NYSE trading symbol&#58; TEF&#47;49</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For purposes of this summary description, the term &#8220;indenture&#8221; means the Indenture dated April 20, 2018, among the Issuer, the Guarantor and the Trustee, as supplemented by the First Supplemental Indenture dated as of March 1, 2019, among the Issuer, the Guarantor and the Trustee.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM AND DENOMINATION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes were issued in registered form in denominations of $1,000.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INTEREST</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes bear interest at 5.520% per year, payable on March 1 and September 1 of each year.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on the notes is computed on the basis of a 360-day year of twelve 30-day months. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MATURITY</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; March 1, 2049.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REDEMPTION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Early redemption for taxation reasons&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in relation to the notes, (i) as a result of any change in the laws or regulations of the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax, or in the interpretation or administration of any such laws or regulations which becomes effective on or after the date of issuance of the notes, (x) the Issuer or the Guarantor, </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">as the case may be, are or would be required to pay any Additional Amounts (as provided for in the indenture) or (y) the Guarantor is or would be required to deduct or withhold tax on any payment to the Issuer to enable it to make any payment of principal, premium, if any, or interest on the notes, provided that such payment cannot, with reasonable effort by the Guarantor, be structured to avoid such deduction or withholding, and (ii) such circumstances are evidenced by the delivery by the Issuer or the Guarantor, as the case may be, to the Trustee of a certificate signed by an authorized officer or director of the Issuer or the Guarantor, as the case may be, stating that such circumstances prevail and describing the facts leading to such circumstances, together with an opinion of independent legal advisers of recognized standing to the effect that such circumstances prevail, the Issuer or the Guarantor, as the case may be, may, at their respective election and having given not less than 30 nor more than 60 days&#8217; notice (ending on a day upon which interest is payable) to the holders of the notes in accordance with the terms described under the indenture, redeem all of the outstanding notes at a redemption price equal to their principal amount, together with accrued and unpaid interest, if any, thereon to but excluding the redemption date. No such notice of redemption may be given earlier than 90 days prior to the date on which the Issuer or the Guarantor would be obligated to pay such Additional Amounts (as provided for in the indenture) were a payment in respect of the notes then due.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional redemption&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer may, at its election and having given not less than 15 nor more than 60 days&#8217; notice to the holders of the notes in accordance with the terms described under the indenture, redeem from time to time all or a portion of the outstanding notes at a redemption price which will be equal to the greater of</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer may redeem all or a portion of the notes at its election at any time or from time to time as set forth below. Notice of redemption shall be given by first-class mail postage prepaid, mailed not less than 15 nor more than 60 days prior to the redemption date to each holder of the notes to be redeemed at his or her address appearing in the register kept by the Trustee. If the Issuer redeems all or a portion of the notes prior to the Par Call Date, the Issuer will pay a redemption price equal to the greater of&#58; (i) 100% of the principal amount of the notes to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date of such notes&#59; and (ii) as determined by an independent investment banking institution of national standing appointed by the Issuer and the Guarantor, the sum of the present values of the remaining scheduled payments of principal thereof and interest on the notes being redeemed that would be due if such notes matured on the Par Call Date (in each case, not including the amount, if any, of unpaid interest accrued to, but excluding, the redemption date) discounted to the redemption date of such notes being redeemed on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 40 basis points, plus accrued and unpaid interest on the principal amount of such notes (or a portion thereof) being redeemed to, but excluding, the redemption date of such notes (or a portion thereof) being redeemed. If the Issuer redeems all or a portion of the notes on or after the Par Call Date, the Issuer will pay a redemption price equal to 100% of the principal amount of such notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date of such notes.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business Day</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any day other than a Saturday, a Sunday or any other day on which banking institutions in New York, New York or the city of Madrid, Spain are authorized or required by law or executive order to close.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Issue</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;  means the United States Treasury security selected by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor as having a maturity comparable to the remaining term of the notes to be redeemed (assuming for this purpose that the notes matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes being redeemed.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">32</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparable Treasury Price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date prior to the Par Call Date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the independent investment banking institution of national standing appointed by the Issuer and the Guarantor obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations or, if only one such quotation is obtained, such quotation. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Par Call Date</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;  means September 1, 2048 (i.e., six months prior to the maturity date).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer Quotations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to each Reference Treasury Dealer and any redemption date prior to the Par Call Date, the average, as determined by the independent investment banking institution of national standing appointed by the Issuer and the Guarantor, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the such independent banking institution by such Reference Treasury Dealer at 5&#58;00 p.m. on the third New York Business Day preceding such redemption date. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reference Treasury Dealer</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means (1) each of Barclays Capital Inc., Goldman Sachs &#38; Co. LLC and Merrill Lynch, Pierce, Fenner &#38; Smith Incorporated and their affiliates or their respective successors, provided that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Primary Treasury Dealer</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;), the Issuer and the Guarantor will substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Issuer and the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Treasury Rate</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, with respect to any redemption date prior to the Par Call Date, the rate per annum equal to the semi-annual equivalent yield to maturity or, if such equivalent is not available, the interpolated maturity (on a day count basis) of the Comparable Treasury Issue, calculated assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.</font></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.1.1 </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">COMMON PROVISIONS TO THE SHELF NOTES</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.1  Status of the Shelf Notes and of the Guarantee</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Shelf Notes constitute the Issuer&#8217;s direct, unconditional, unsubordinated and unsecured obligations and rank </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">pari passu</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> without any preference among themselves and (subject to any applicable statutory exceptions) the payment obligations under the Shelf Notes rank at least </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">pari passu</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> with all of the Issuer's other unsecured and unsubordinated indebtedness, present and future, except as its obligations may be limited by Spanish bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors&#8217; rights generally in the Kingdom of Spain. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For each of the applicable Shelf Notes, the Guarantor unconditionally and irrevocably guarantees the due payment of all sums expressed to be payable by the Issuer under the Shelf Notes on an unsubordinated and unconditional basis (hereinafter, the &#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Guarantee</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;). The obligations of the Guarantor under the Guarantee are unaffected by any invalidity, irregularity or unenforceability of the Shelf Notes or the relevant indenture, any failure to enforce the provisions of the Shelf Notes or the relevant indenture, or any waivers, modification or indulgence granted to the Issuer in respect thereof by the holders of the Shelf Notes or the Trustee, or any other circumstance which may otherwise constitute a legal or equitable discharge of a surety or guarantee.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the Guarantee, the Guarantor waives diligence, presentment, demand of payment, filing of claims with a court in the event of the Issuer's merger or bankruptcy, the benefits of &#34;orden, divisi&#243;n and excusi&#243;n&#34; under Spanish law, any right to require a proceeding first against the Issuer, protest or notice with respect to the Shelf Notes, or the indebtedness evidenced thereby and all demands whatsoever, and covenants that the Guarantee are not discharged except by payment in full of, amongst other, the principal of, interest on and Additional Amounts (as defined below), if any, on such Shelf Notes and the Guarantor shall have fully performed all its </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">33</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">obligations in accordance with the provisions of the Shelf Notes, the Guarantee and the relevant indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Guarantor shall be subrogated to all rights of the holders of the Shelf Notes and the Trustee against the Issuer in respect of any amounts paid to such holders by the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The obligations of the Guarantor under the Guarantee in respect of the Shelf Notes constitute direct, unconditional, unsubordinated and unsecured obligations of the Guarantor under the Guarantee and rank </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">pari passu</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> without any preference among such obligations of the Guarantor under the Guarantee in respect of the Shelf Notes and at least </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">pari passu</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> with all other unsubordinated and unsecured indebtedness and monetary obligations involving or otherwise related to borrowed money of the Guarantor, present and future&#59; provided that the obligations of the Guarantor under the Guarantee in respect of the Shelf Notes are effectively subordinated to those obligations that are preferred under Spanish insolvency law.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liens or encumbrances</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">So long as any of the Shelf Notes remains outstanding (as defined in the relevant indenture), neither the Issuer nor the Guarantor will create or will have outstanding any mortgage, pledge, lien or other charge (hereinafter, an &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Encumbrance</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) upon the whole or any part of the Issuer's present or future assets, in order to secure any Relevant Indebtedness issued or guaranteed by the Issuer, the Guarantor or by any other person unless the Shelf Notes are equally and ratably secured therewith, for as long as such Relevant Indebtedness is so secured. For these purposes, &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Relevant Indebtedness</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any obligation for the payment of borrowed money which is in the form of, or represented or evidenced by, a certificate of indebtedness or in the form of, or represented or evidenced by, bonds, notes or other securities which, in any of the above cases, is or are, or is or are capable of being, quoted, listed, dealt in or traded on a stock exchange or other recognized securities market. For the avoidance of doubt, any &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">obligation for the payment of borrowed money</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; as used in this definition of Relevant Indebtedness does not include obligations of the Issuer or the Guarantor which, pursuant to the requirements of law and accounting principles generally accepted in the Kingdom of Spain need not, and are not, reflected in the balance sheet of the Issuer or the Guarantor, as the case may be.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer and the Guarantor are, however, allowed to secure Relevant Indebtedness in the following circumstances&#58;</font></div><div style="margin-top:9pt;padding-left:22.5pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">i.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:31.01pt">&#160;&#160;&#160;the Relevant Indebtedness was originally offered, distributed or sold primarily to the residents of the Kingdom of Spain&#59; or</font></div><div style="margin-top:9pt;padding-left:22.5pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ii.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.79pt">&#160;&#160;&#160;the Relevant Indebtedness matures within one year of its date of issue&#59; or</font></div><div style="margin-top:9pt;padding-left:22.5pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iii.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:26.57pt">&#160;&#160;&#160;such Encumbrance affects assets of an entity which, when such Encumbrance was created, was unrelated to the Issuer or the Guarantor and which was subsequently acquired by the Issuer or the Guarantor&#59; </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">provided, that nothing in this section shall limit the ability of the Issuer or the Guarantor, as the case may be, to grant or permit to subsist Encumbrances over any or all of their respective present or future assets to secure Relevant Indebtedness issued or guaranteed by the Issuer, the Guarantor or any other person, to the extent that the aggregate principal amounts so secured do not exceed 5% of the Consolidated Net Tangible Assets of the Guarantor (as defined below), as reflected in the most recent balance sheet prior to the time such Relevant Indebtedness was issued or guaranteed.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For these purposes&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Consolidated Net Tangible Assets of the Guarantor</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means, in accordance with generally accepted accounting principles, the total amount of assets of the Guarantor and its consolidated Subsidiaries, including investments in unconsolidated Subsidiaries, after deduction of (i) goodwill, (ii) intangible assets, and (iii) amounts due from stockholders for uncalled capital. Solely for purposes of this definition, &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Subsidiary</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means any company in respect of which the Guarantor owns, directly or indirectly, more than half of the voting rights of the shares of such </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">34</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">company, or when the Guarantor owns half or less of the voting power but controls such company, i.e., has the power to govern the financial and operating policies of such company so as to obtain benefits from its activities.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- The term &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">generally accepted accounting principles</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221; means (i) in the case of the Issuer's and the Guarantor&#8217;s unconsolidated financial statements, the accounting principles generally accepted in the Kingdom of Spain and (ii) in the case of the Guarantor&#8217;s consolidated financial statements, International Financial Reporting Standards (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">IFRS</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) as issued by the International Accounting Standards Board, which do not differ for the purposes of the Guarantor and its consolidated subsidiaries from IFRS as adopted by the European Union, in each case as in effect at the date of such computation and as applied by the Issuer or the Guarantor, as the case may be.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restrictions</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Payment of dividends </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Spanish reserve requirements must be met prior to the payment of dividends, and dividends may only be distributed out of income for the previous year or out of unrestricted reserves, and the Issuer&#8217;s net worth must not, as a result of the distribution, fall below the Issuer's paid-in share capital (capital social). There are no other restrictions on the Guarantor&#8217;s ability to obtain funds from the Issuer through dividends, loans or otherwise.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Consolidation, Merger, Etc.&#59; Assumption</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Neither the Issuer nor the Guarantor shall consolidate with or merge (which term shall include for the avoidance of doubt a scheme of arrangement) into any other person or convey, transfer or lease all or substantially all of the Issuer's assets to any person, and neither the Issuer nor the Guarantor shall permit any person to consolidate with or merge into the Issuer or the Guarantor, convey, transfer or lease all or substantially all of its assets to the Issuer or the Guarantor, unless&#58;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">i.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:17.51pt">in the case the Issuer or the Guarantor consolidates with or merge into another person or convey, transfer or lease all or substantially all of its respective assets to any person, the person formed by such consolidation or into which the Issuer or the Guarantor are merged or the person which acquires by conveyance or transfer, or which leases, all or substantially all of the Issuer's assets or the assets of the Guarantor shall be a corporation, partnership or trust, shall be organized and validly existing, under the S-23 laws of the Kingdom of Spain or a member of the European Union or an OECD country and shall expressly assume, by a supplemental indenture that complies with the U.S. Trust Indenture Act of 1939, as amended (hereinafter, the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Trust Indenture Act</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) executed and delivered to the Trustee in form and substance reasonably satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest (including all Additional Amounts and any additional sums payable pursuant to paragraph (ii) below) (a) in the Issuer's case, on all the Shelf Notes and (b) in the case of the Guarantor, under the Guarantee, and the performance or observance of every covenant of the relevant indenture relating thereto on the Issuer's part to be performed or observed and, in the case of the Guarantor, the due and punctual payment of the principal of and any premium and interest (including all Additional Amounts and any additional sums payable pursuant to paragraph (ii) below) on all the Shelf Notes and the performance or observance of every covenant of the relevant indenture and the Guarantee relating thereto on the part of the Guarantor to be performed or observed&#59;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Additional Amounts</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means additional amounts payable by the Issuer or the Guarantor as provided for in the relevant indenture.</font></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ii.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:15.29pt">if the person formed by such consolidation or into which the Issuer or the Guarantor are merged or to whom the Issuer or the Guarantor have conveyed, transferred or leased the Issuer's properties or assets is a person organized and validly existing under the laws of a jurisdiction other than the Kingdom of Spain such person agrees to indemnify the holder of each Shelf Note against certain costs and expenses as further described in the relevant indenture&#59;</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">35</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iii.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.07pt">immediately prior to the consummation of such transaction, no Event of Default with respect to the Shelf Notes, shall have occurred&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iv.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.51pt">the consummation of such transaction must not cause an Event of Default under the Shelf Notes or the Guarantee which the Issuer or the Guarantor, as the case may be, do not reasonably believe can be cured within 90 days from the date of such transaction&#59; and</font></div><div style="margin-top:9pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">v.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.73pt">the Issuer or the Guarantor have delivered to the Trustee an officer&#8217;s certificate and an opinion of counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, complies with the applicable provisions of the relevant indenture and that all conditions precedent herein provided for relating to such transaction have been complied with.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No vote by the holders is required for any such consolidation, merger, conveyance, transfer or lease, unless as part of the transaction the Issuer or the Guarantor, as applicable, make changes to the relevant indenture requiring holder approval, as described later under &#8220;&#8212;Modification and Waiver&#8221;. The Issuer and the Guarantor may take these actions as part of a transaction involving outside third parties or as part of an internal corporate reorganization. The Issuer and the Guarantor may take these actions even if they result in&#58;</font></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt">          a lower credit rating being assigned to the Shelf Notes&#59; or</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-31.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Additional Amounts becoming payable in respect of withholding tax and, as a result, the Shelf Notes being subject to redemption at the Issuer's option or at the option of the Guarantor, as the case may be, as described in the relevant indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer and the Guarantor have no obligation under the relevant indenture to seek to avoid these results, or any other legal or financial effects that are disadvantageous to holders of the Shelf Notes, in connection with a merger, consolidation, sale conveyance or lease of assets that is permitted under the relevant indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon any consolidation of the Issuer or the Guarantor with, or merger of the Issuer or the Guarantor into, any other person or any conveyance, transfer or lease of all or substantially all of the assets of the Issuer or the Guarantor in accordance with the provisions described above, the successor person formed by such consolidation or into which the Issuer or the Guarantor is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer or the Guarantor, as the case may be, under the relevant indenture with the same effect as if such successor person had been named as the Issuer or the Guarantor therein, as the case may be, and thereafter, except in the case of a lease, the predecessor person shall be relieved of all obligations and covenants under the relevant indenture and the Shelf Notes or Guarantee, as the case may be.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the case of any such consolidation, merger, conveyance, transfer or lease, if the acquiring or resulting entity&#8217;s jurisdiction of incorporation or residence for tax purposes (hereinafter the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Taxing Jurisdiction</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;) is not the Kingdom of Spain, Additional Amounts are payable under the Shelf Notes or the Guarantee, as applicable, for taxes imposed by the acquiring or resulting entity&#8217;s Taxing Jurisdiction (subject to exceptions equivalent to those that apply to the obligation to pay Additional Amounts for taxes imposed by the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax described under the relevant indenture) on payments of any amounts payable (whether in respect of principal or interest or otherwise) in respect of the Shelf Notes made on or after the date of the consolidation, merger, conveyance, transfer or lease rather than taxes imposed on those payments by the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional Amounts will be payable on interest or principal due prior to the date of the consolidation, merger, conveyance, transfer or lease only for taxes imposed by the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">36</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">power to tax, subject to the exceptions discussed under the relevant indenture. The acquiring or resulting entity will also be entitled to redeem the Shelf Notes in the circumstances described for taxation reasons in the relevant indenture for any change or amendment to, or change in the interpretation or administration of, the laws or regulations of such entity&#8217;s Taxing Jurisdiction (which change, amendment or change in the interpretation or administration becomes effective on or after the date of the consolidation, merger, conveyance, transfer or lease).</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Guarantor or any subsidiary of the Guarantor may assume the Issuer's obligations under the Shelf Notes without the consent of the holders. Any Shelf Notes so assumed, unless assumed directly by the Guarantor, will have the benefit of the Guarantee in respect of such Shelf Notes. In the event of an assumption by an entity within a Taxing Jurisdiction other than Spain, Additional Amounts under the Shelf Notes are payable for taxes imposed by the assuming entity&#8217;s Taxing Jurisdiction (subject to exceptions equivalent to those that apply to the obligation to pay Additional Amounts for taxes imposed by the Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax described under the relevant indenture) on payments of principal, interest or otherwise in respect of the Shelf Notes made on or subsequent to the date of such assumption rather than taxes imposed on these payments by the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax. In the event of such assumption, the Guarantor or the applicable subsidiary of the Guarantor will be entitled to redeem the Shelf Notes in the circumstances described in the preceding paragraph.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional Amounts will be payable on interest or principal due prior to the date of the assumption only for taxes imposed by the Kingdom of Spain or any political subdivision thereof or any authority or agency therein or thereof having power to tax, subject to the exceptions discussed under the relevant indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Further issues</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As described in the relevant indenture, in addition to the Shelf Notes, notes, bonds and other evidences of indebtedness of other series may in the future be issued thereunder without limitation as to aggregate principal amount. Unless otherwise provided pursuant to the relevant indenture, the Issuer may from time to time, without the consent of the holders of the Shelf Notes, create and issue further Shelf Notes having the same terms and conditions as the previously issued Shelf Notes in all respects (or in all respects except for the issue date, the first interest payment date and&#47;or the issue price), so that such further issue shall be consolidated and form a single series with the outstanding Shelf Notes&#59; provided, however, that any such further issuance will only be made if either such additional Shelf Notes are issued with no more than de minimis original issue discount for U.S. federal income tax purposes or such further issuance is a &#8220;qualified reopening&#8221; as such term is defined under U.S. Treasury Regulations Section 1.1275-2(k)(3) promulgated under the U.S. Internal Revenue Code of 1986, as amended. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Events of default</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Event of Default</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8221;, with respect to each of the Shelf Notes, means any one of the following events which occurs and is continuing&#58;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:4.62pt">the Issuer fails to pay, and the Guarantor fails to honor the Guarantee with respect to payments of, principal of, interest due on or any Additional Amounts in respect of the relevant Shelf Notes for a period of 21 days from the stated maturity of such principal or interest payment&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:2.4pt">the Issuer fails to perform any other obligation arising from the relevant Shelf Notes or the Guarantor fails to perform any other obligation arising under the Guarantee of such Shelf Notes and in each case, such failure continues for more than 60 days (90 days if the failure to perform relates to an obligation of the Issuer or the Guarantor arising pursuant to a transaction described in the relevant indenture) after there has been given, by the Trustee or holders of not less than 25% in principal amount of the outstanding relevant Shelf Notes, a written notice to </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">37</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Issuer specifying such failure and requiring it to be remedied, and stating that such notice is a &#8220;Notice of Default&#8221; under the relevant indenture&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:0.18pt">the Issuer or the Guarantor fail (taking into account any applicable grace periods) to fulfill any payment obligation in excess of &#8364;100,000,000 or its equivalent in any other currency under any Relevant Indebtedness or under any guarantees or suretyships provided for under any Relevant Indebtedness of others, and this failure remains uncured for 30 days&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:35.62pt">the holders of any other Relevant Indebtedness of the Issuer or the Guarantor accelerate any payment obligation in excess of &#8364;100,000,000 or its equivalent in any other currency as a result of the Issuer or the Guarantor entering into a transaction described and in accordance with the conditions set forth in the relevant indenture, which transaction constitutes an event of default in respect of such other Relevant Indebtedness&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1.84pt">the Issuer or the Guarantor announce their inability to meet their respective financial obligations&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vi)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:35.62pt">a court, at the request of any creditor, commences insolvency proceedings (concurso) against the Issuer or the Guarantor and any such proceeding is not discharged or dismissed within 60 days&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:33.4pt">the Issuer or the Guarantor go into liquidation unless it is done as a result of the Issuer or the Guarantor entering into a transaction described and in accordance with the conditions set forth in the relevant indenture&#59;</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(viii)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:31.18pt">the Issuer or the Guarantor make a filing seeking relief under any applicable bankruptcy or insolvency (concurso) laws&#59; or</font></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ix)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:35.62pt">the Guarantee ceases to be valid or legally binding for any reason.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If any Event of Default shall occur in relation to the Shelf Notes (taking into account any applicable grace period), the Trustee or the holders of not less than 25% in principal amount of the outstanding relevant Shelf Notes may, by written notice to the Issuer, at the Corporate Trust Office (and to the Trustee if given by the holders), declare that the relevant Shelf Notes, including principal and all interest then accrued and unpaid on the relevant Shelf Notes, as the case may be, shall be immediately due and payable, whereupon the same shall, to the extent permitted by applicable law, become immediately due and payable, at their principal amount together with all interest, if any, accrued and unpaid thereon and any other amounts set forth in the relevant indenture, without presentment, demand, protest or other notice of any kind, all of which the Issuer or the Guarantor, as the case may be, will expressly waive, unless, prior thereto, all Events of Default in respect of the relevant Shelf Notes shall have been cured. Such declarations of acceleration may be rescinded and past defaults may be waived, except defaults in payment of principal of, interest on or any other amounts set forth in the relevant indenture, by holders of a majority of the outstanding principal amount on the relevant Shelf Notes pursuant to the procedures and under the conditions described in the relevant indenture&#59; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">provided, however</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, that the amounts due to the Trustee under the relevant indenture have been paid. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Amendments</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer, the Guarantor and the Trustee may enter into one or more supplemental indentures to each of the Shelf Notes without the consent of the holders thereof to, among other things, as further described in the relevant indenture&#58; (i) secure the relevant Shelf Notes&#59; (ii) evidence the succession of another person to the Issuer or the Guarantor and the assumption by any such successor of the covenants and agreements of the Issuer or the Guarantor in the relevant indenture and in the relevant Shelf Notes&#59; (iii) evidence or provide for the acceptance of appointment under the relevant indenture by a successor trustee with respect to the relevant Shelf Notes&#59; (iv) change the terms of the relevant Shelf Notes to correct a manifest error (for the avoidance of doubt, no other modification may be made to the terms of the relevant Shelf Notes)&#59; or (v) to change the relevant indenture in any manner which does not affect the terms of </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">38</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the relevant Shelf Notes or interests of holders thereof, as further described in the relevant indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With the consent of the holders of not less than a majority in principal amount of the outstanding relevant Shelf Notes, the Issuer, the Guarantor and the Trustee may add any provisions to, or change in any manner or eliminate any of the provisions of, or waive any past defaults with respect to, the relevant indenture or modify in any manner the rights of the holders of such Shelf Notes. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, the Issuer, the Guarantor and the Trustee may not make any of the following changes to the relevant Shelf Notes without the consent of each holder of each outstanding Shelf Note that would be affected by such change&#58; (i) change the stated maturity of the principal or of any installment of the principal of or interest, if any, on any Shelf Note&#59; (ii) reduce the principal amount of any Shelf Note&#59; (iii) reduce the rate or extend the time of payment of interest on, any Shelf Note&#59; (iv) reduce the amount payable on redemption of any Shelf Note&#59; (v) change the obligations of the Issuer or of the Guarantor to pay any Additional Amounts (as provided for in the relevant indenture) on any Shelf Note&#59; (vi) waive a default in the payment of principal of, or interest on, any Shelf Note&#59; (vii) change the currency in which the principal, premium, or interest on, any Shelf Note is payable&#59; (viii) impair the right of any holder to take legal action to enforce the payment on the Shelf Notes or the Guarantee when due&#59; or (ix) reduce the quorum requirements or the percentage of Shelf Notes the consent of whose holders is required for modification of the relevant indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">The Trustee and paying agent</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Bank of New York Mellon (with address at 240 Greenwich Street, New York, NY 10007) acts as the Trustee (the &#8220;Trustee&#8221;) and paying agent for the Shelf Notes.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to acting as Trustee, The Bank of New York Mellon also acts as depositary, trustee and&#47;or paying agent in connection with various other transactions carried out by the Issuer, the Guarantor and certain of their respective affiliates.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Control by holders. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Holders&#160;of a majority in principal amount&#160;of the relevant Shelf Notes have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to such Shelf Notes&#59;&#160;provided&#160;that&#58; (a) such direction shall not be in conflict with any rule of law or with the relevant indenture&#59; (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction&#59; and (c) the Trustee need not follow any such direction if doing so would in its reasonable discretion either involve it in personal liability or be unduly prejudicial to holders not joining in such direction&#59; provided, further, that the Trustee shall have no obligation to make any determination with respect to any such conflict, personal liability or undue prejudice.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Governing law and jurisdiction</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Shelf Notes are governed by, and shall be construed in accordance with, the laws of the State of New York. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The due authorization of the Shelf Notes and the ranking thereof and the Guarantee are governed by Spanish law.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Issuer and the Guarantor have submitted to the exclusive jurisdiction of any federal or state court in the Borough of Manhattan, the City of New York, and any appellate court from any such court thereof, with respect to any legal suit, action or proceeding based on or arising under the Shelf Notes or the relevant indenture and have agreed that all claims in respect of such suit or proceeding shall be determined in any such court.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.9</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">39</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There is no original discount issue as defined in Section 1232 of the Internal Revenue Code to mention.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.1.1.10 Currency</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amounts due under the Shelf Notes shall not under any circumstances whatsoever be payable in any currency other than U.S. dollars or such coin or currency of the United States as at the time of payment shall be legal tender for the payment of public and private debts.</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-24.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Debt securities issued by Telef&#243;nica Europe B.V. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This section describes the $1,250,000,000 Fixed Rate Guaranteed Senior Notes Due 2030 issued by Telef&#243;nica Europe B.V. (the &#8220;Dutch Issuer&#8221;) and guaranteed by Telef&#243;nica (the &#8220;Guarantor&#8221;) (the &#8220;notes&#8221;). </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following summary of the notes, the Guarantee (as defined below) and the indenture dated September 14, 2000 among the Dutch Issuer, the Guarantor, and The Bank of New York, as trustee (the &#8220;Trustee&#8221;) (the &#8220;Indenture&#8221;) does not purport to be complete and is subject, and is qualified in its entirety by reference, to all of the provisions of the notes, the Guarantee and the Indenture, as applicable, including the definitions of the terms provided therein.</font></div><div style="margin-top:9pt;text-align:justify"><font><br></font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$1,250,000,000 aggregate principal amount of fixed rate senior notes due 2030 </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NOTES</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accepted for clearance by DTC, Clearstream, Luxembourg and Euroclear. </font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Common code&#58; 011800637</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ISIN&#58; US879385AD49. </font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NYSE trading symbol&#58; TEF&#47;30</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Frankfurt Stock Exchange trading symbol&#58; traded under continuous auction (Telef&#243;nica Europe B.V. 8,25% 00&#47;30)</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">FORM AND DENOMINATION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes were issued in registered form in denominations of $1,000.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">INTEREST</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes bear interest at 8.25% per year, payable every March 15 and September 15 of each year.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest on the notes is computed on the basis of a 360-day year of twelve 30-day months.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">MATURITY</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; September 15, 2030.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REDEMPTION</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional make-whole redemption&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes are redeemable at the option of the Dutch Issuer in whole or in part, at any time. Upon redemption, the Dutch Issuer will pay a redemption price equal to the greater of (1) 100% of the principal amount of the notes plus accrued interest to the date of redemption or (2) as determined by the Trustee, the sum of the present values of the remaining scheduled payments of principal and interest on the notes (excluding any interest accrued as of the date of redemption). The present value will be determined by discounting the remaining principal and interest payments to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), using the adjusted comparable yield plus 25 basis points.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">40</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The definitions of terms used in the paragraph above are as follows&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Adjusted comparable yield</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the comparable issue, assuming a price for the comparable issue (expressed as a percentage of its principal amount) equal to the comparable issue price for such redemption date with such adjustments as described above.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Comparable issue</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means the U.S. Treasury security selected by the quotation agents as having a maturity comparable to the remaining term of the notes, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the notes.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Comparable issue price</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means, with respect to any redemption date, the average of the quotation agents' quotations for the redemption date.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Quotation agents</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means a group of reference dealers that are primary dealers in the comparable issue in New York City, as appointed by the Trustee after having consulted with the Dutch Issuer.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Quotation agents' quotations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means with respect to any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the comparable issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by the quotation agents at 5&#58;00 p.m. on the third business day before the redemption date.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From and after the redemption date, if money for the redemption of the notes called for redemption is made available as provided in the Indenture and the notes are called for redemption on the redemption date, the notes will cease to bear interest, and the only right of the holders of the notes will be to receive payment of the redemption price and all unpaid interest accrued to the date of redemption.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer will give notice to the Trustee of any redemption the Dutch Issuer proposes to make at least 30 days, but not more than 60 days, before the redemption date. Notice by any depositary of global securities to participating institutions and by these participants to street name holders of indirect interests in the notes will be made according to arrangements among them and may be subject to statutory or regulatory requirements.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer or its affiliates may purchase notes from investors who are willing to sell from time to time, either in the open market at prevailing prices or in private transactions at negotiated prices. Any notes that the Dutch Issuer or they purchase may, in the Dutch Issuer's discretion, be held, resold or cancelled.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- Optional tax redemption</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other than as described above under &#8220;Optional make-whole redemption&#8221;, the Dutch Issuer will have the option to redeem the notes in the two following situations&#58;</font></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.11pt">The first situation is where, as a result of a change in, execution of or amendment to any laws or treaties or the official application or interpretation of any laws or treaties, either&#58;</font></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Guarantor or the Dutch Issuer would be required to pay additional amounts (as described in the Indenture)&#59; or</font></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Guarantor or any of its subsidiaries would have to deduct or withhold tax on any payment to Dutch Issuer to enable it to make a payment of principal or interest on a note.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This applies in the case of changes, executions. amendments, applications or interpretations that occur on or after the date specified in the Indenture for the notes and in the jurisdiction where the Guarantor or the Dutch Issuer is incorporated. If the Guarantor or the Dutch Issuer is succeeded by another entity, the applicable jurisdiction is the jurisdiction in which the successor entity is organized, and the applicable date is the date the entity became a successor.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">41</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer would not have the option to redeem in this case if the Dutch Issuer could have avoided the payment of additional amounts or the deduction or withholding by using reasonable measures available to it.</font></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.11pt">The second situation is where a person located outside of Spain or The Netherlands into which the Guarantor or the Dutch Issuer is merged or to whom it has conveyed, transferred or leased its property is required to pay additional amounts. The Dutch Issuer has the option to redeem the notes even if the Dutch Issuer is required to pay an additional amount immediately after the merger, conveyance, transfer or lease. The Dutch Issuer is not required to use reasonable measures to avoid the obligation to pay additional amounts in this situation.</font></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;In the situations described above, the Dutch Issuer may call all, but not less than all, of the notes for redemption at 100% of their aggregate principal amount plus accrued interest. Furthermore, the Dutch Issuer must give between 30-and 60-days' notice before redeeming the notes.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Status of the notes and of the Guarantee</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes constitute direct, unsecured and unsubordinated obligations of the Dutch Issuer and rank equally without any preference among themselves and with all other outstanding unsecured and unsubordinated indebtedness of the Dutch Issuer's present and future, except as may be preferred by law.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The guarantee granted by the Guarantor (the &#8220;Guarantee&#8221;) constitutes the direct, unconditional and unsecured obligation of the Guarantor, and ranks equally and without any preference with all other outstanding unsecured and unsubordinated indebtedness of the Guarantor, present and future, except for indebtedness that&#58;</font></div><div style="margin-top:9pt;padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">has been notarized or intervened by a Spanish notary in compliance with Spanish law, or</font></div><div style="margin-top:9pt;padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">is preferred by law.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the Guarantee, the Guarantor fully, unconditionally and irrevocably guarantees the payment of the principal of, premium, if any, and interest on the notes issued by Dutch Issuer, including any additional amounts which may be payable in respect of the notes, as described in the Indenture. The Guarantor guarantees the payment of such amounts when such amounts become due and payable, whether at the stated maturity of the notes, by declaration of acceleration, call for redemption or otherwise.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Guarantor is a holding company. Therefore, in the distribution of the assets of any subsidiary of the Guarantor upon the subsidiary's liquidation or reorganization, any creditor of the subsidiary has a right to participate in the distribution before the creditors of the Guarantor, including claimants under the Guarantee. In addition, since it is a holding company, the Guarantor depends for its cash on dividends and repayment of intercompany loans from its subsidiaries. The Guarantee is an unsecured obligation of the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restrictions</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:18.11pt">Restrictions on liens</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Some of the Dutch Issuer's property may be subject to a mortgage or other legal mechanism that gives its lenders preferential rights in that property over other lenders, including holders of the notes, or over the Dutch Issuer's general creditors if the Dutch Issuer fails to pay them back. These preferential rights are called liens. Except to the extent described below, the Dutch Issuer will not be obligated on any present or future capital market indebtedness that is secured by a  lien  on  the  whole  or  any part of the Dutch Issuer's present or future assets, unless an equivalent or higher-ranking lien on the same property  is granted  to  the holders  of  the notes.  </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">42</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer is, however, allowed to secure capital market indebtedness in the following circumstances&#58;</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">i.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:17.51pt">if the indebtedness was originally offered primarily to the residents of Spain, in the case of indebtedness of the Guarantor, or to the residents of The Netherlands, in the case of indebtedness of the Dutch Issuer&#59;</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ii.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:15.29pt">if the capital market indebtedness matures within one year of its date of issue&#59;</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iii.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.07pt">if the lien affects assets of an entity which, when the lien was first created, was unrelated to the Guarantor or the Dutch Issuer and which was subsequently acquired by the Guarantor or the Dutch Issuer&#59; or</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-22.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iv.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.51pt">if the capital market indebtedness that is secured and is issued or guaranteed by either the Guarantor or the Dutch Issuer does not exceed 5% of the consolidated net tangible assets of the Guarantor.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As used here&#58;</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Capital market indebtedness</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means any obligation to repay money that is borrowed through the issuance of bonds, notes or other debt securities which are capable of being listed or traded on a stock exchange or other recognized securities market. It does not include any off-balance sheet obligations.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Consolidated net tangible assets</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#34; means the total amount of assets of the Guarantor and its consolidated subsidiaries, including investments in unconsolidated subsidiaries, after deduction of (1) deferred charges, (2) goodwill in consolidation, (3) intangible assets, and (4) amounts due from stockholders for uncalled capital.    </font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">e)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:18.11pt">Notarized debt</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Guarantor promises not to notarize or have intervened by a Spanish notary any capital market indebtedness issued by the Guarantor, or any guarantee or surety of any capital market indebtedness given by the Guarantor, unless the Guarantor also notarized or intervenes the Guarantee at least one day before notarizing or intervening the capital market indebtedness, guarantee or surety. However, the Guarantor does not have to notarize or have intervened the Guarantee if the capital market indebtedness which it notarizes or has so intervened is convertible into equity of the Guarantor or if the Guarantor had to notarize or intervene the capital market indebtedness in order to comply with mandatory provisions of Spanish law.</font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">f)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:20.9pt">Defeasance and discharge </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Full defeasance</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer can legally release itself from any payment or other obligations on the notes, except for various obligations described below (called &#34;full defeasance&#34;), if it, in addition to other actions, put in place the following arrangements&#58;</font></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">deposit in trust for the benefit of holders of the notes a combination of money and U.S. government or U.S. government agency notes or bonds that generate enough cash to make interest, principal and any other payments on the notes on their various due dates&#59;</font></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">&#160;&#160;&#160;&#160;deliver to the Trustee a legal opinion of the Dutch Issuer's counsel, based upon a ruling by the U.S. Internal Revenue Service or upon a change in applicable U.S. federal income tax law, confirming that under then current U.S. federal income tax law the Dutch Issuer may make the above deposit without causing the holders to be taxed on the notes any differently than if the Dutch Issuer did not make the deposit and just repaid the notes itself&#59; and</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">43</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">&#160;&#160;&#160;&#160;the Dutch Issuer deliver to the Trustee a legal opinion of its counsel confirming that the deposit, defeasance and discharge does not cause the notes to be delisted.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the Dutch Issuer is able to satisfy the condition for full defeasance as described above, the holders would have to rely solely on the deposited funds for repayment on the notes.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Covenant defeasance</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer can make the same deposit described above and be released from all or some of the covenants or other provisions that apply to the notes. This is called &#34;covenant defeasance&#34;. In that event, the holders would lose the protection of those covenants or provisions but would gain the protection of having money and securities set aside in trust to repay the notes. In order to achieve covenant defeasance, the Dutch Issuer must do the following&#58;</font></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">must deposit in trust for the benefit of direct holders of the notes a combination of money and U.S. government or U.S. government agency notes or bonds that generate enough cash to make interest, principal and any other payments on the notes on their due date&#59; and</font></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">&#160;&#160;&#160;&#160;must deliver to the Trustee a legal opinion of its counsel confirming that under then current U.S. federal income tax law the Dutch Issuer may make the above deposit without causing the holders to be taxed on the notes any differently than if the Dutch Issuer did not make the deposit and just made payments on the notes itself.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the Dutch Issuer accomplish covenant defeasance with respect to all restrictive covenants (if any) that apply to the notes, the following provisions of the Indenture and&#47;or the notes would no longer apply&#58;</font></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">any covenants applicable to the notes&#59; and</font></div><div style="margin-top:9pt;padding-left:67.5pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">&#160;&#160;&#160;&#160;the events of default relating to breach of covenants and acceleration of the maturity of other debt.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the Dutch Issuer accomplishes covenant defeasance, the holders can still look to the Dutch Issuer for repayment of the notes if there were a shortfall in the trust deposit. In fact, if any other event of default occurred (such as the Dutch Issuer's bankruptcy) and the notes became immediately due and payable, there may be such a shortfall. Depending on the event causing the default, the holders may not be able to obtain payment of the shortfall.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Consolidation, merger and sale of assets</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Each of the Guarantor and the Issuer generally may enter into a merger or consolidation with another company or firm, sell or lease substantially all of their assets to another firm, or buy or lease substantially all of the assets of another firm. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, the Guarantor and the Dutch Issuer may not take any of these actions unless all of the following conditions are met&#59;</font></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Where the Guarantor or the Dutch Issuer merges out of existence or sells or leases substantially all of its assets, the other firm must assume its obligations under the notes or the Guarantee. The other firm's assumption of these obligations must include the obligation to pay the additional amounts described in the Indenture. If the other firm is organized under the laws of a country other than Spain, in the case of the Guarantor, or The Netherlands, in the case of the Dutch Issuer, it must indemnify the holder against any governmental charge or other cost resulting from the transaction.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">44</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Immediately prior to the consummation of the transaction, neither the Guarantor nor the Dutch Issuer is in default on any obligations under the notes or the Guarantee. In addition, the consummation of the transaction must not cause a default under the notes or the Guarantee that the Guarantor or the Dutch Issuer does not reasonably believe can be remedied within 90 days. For purposes of these no-default tests, a default would include an event of default that has occurred and not been cured as described in the Indenture. A default for these purposes also would include any event that would be an event of default if the requirements for giving the Guarantor or the Dutch Issuer notice of its default, or of their default having to exist for a specified period of time, were disregarded.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is possible that a merger or other similar transaction may cause the holders of the notes to be treated for U.S. federal income tax purposes as though they exchanged the notes for new securities. This could result in the recognition of taxable gain or loss for U.S. federal income tax purposes and other possible adverse tax consequences.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Further issues </font></div><div style="margin-top:9pt;padding-left:27pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer may from time to time without the consent of the holders of notes create and issue further notes having the same terms and conditions as the notes so that the further issue is consolidated and forms a single series with the notes.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Events of default </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The holders of notes have special rights if an event of default occurs and is not cured, as described in the Indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There is an event of default with respect to the notes if any of the following occurs&#58;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Dutch Issuer fails to pay, and the Guarantor fails to honor the Guarantee with respect to payments of, principal or interest due on the notes within 21 days from the relevant due date&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Dutch Issuer or the Guarantor fails to perform any other obligation under the notes or the Guarantee and such failure continues for more than 60 days (90 days, if the failure to perform is the result of the consummation of a transaction described  under  &#34;Consolidation, Merger and Sale of Assets&#34; above) after the Dutch Issuer receives written notice of the failure from the Trustee, or each one of  us and the Trustee receive written notice of the failure from holders of at least 25% in principal amount of the outstanding notes&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Guarantee relating to the notes ceases to be valid or legally binding for any reason&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Dutch Issuer or the Guarantor fails to fulfill any payment obligation in excess of &#8364;50,000,000 or its equivalent in any other currency under any capital market indebtedness or under any guarantee or suretyship provided for any capital market indebtedness of others, and this failure remains uncured for 30 days&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the holders of any other capital market indebtedness of the Dutch Issuer or the Guarantor accelerate payment of all amounts owed to them as a result of the Dutch Issuer or the Guarantor entering into a transaction described above under &#34;Consolidation, Merger and Sale of Assets&#34; which results in an event of default with respect of such capital market indebtedness&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Dutch Issuer or the Guarantor announces its inability to meet its financial obligations or files a petition before a court for a suspension of payments&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">a court opens insolvency proceedings against the Dutch Issuer or the Guarantor&#59;</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">45</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Dutch Issuer or the Guarantor makes a filing seeking relief under any applicable bankruptcy, or insolvency laws&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Dutch Issuer or the Guarantor goes into liquidation unless it is done in connection with a merger or other form of business combination with another company and that company assumes all the obligations of the Dutch Issuer or the Guarantor, as the case may be, in connection with the notes&#59; or</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the passage of any governmental order, decree or enactment which makes the Dutch Issuer or the Guarantor unable to perform its obligations under the notes and this situation remains uncured for 90 days.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Remedies if an event of default occurs.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an event of default has occurred and has not been cured, the Trustee or the holders of at least 25% in principal amount of the notes may declare the entire principal amount of all the notes to be due and immediately payable. This is called a declaration of acceleration of maturity and may be cancelled by the holders of a majority in principal amount of the notes. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Except in cases of default, where the Trustee has some special duties, the Trustee is not required to take any action under the Indenture at the request of any holders unless the holders offer the Trustee reasonable protection from expenses and liability. This protection is called an indemnity. If reasonable indemnity is provided, the holders of a majority in principal amount of the outstanding notes may direct the time, method and place of conducting any lawsuit or other formal legal action seeking any remedy available to the Trustee. These majority holders may also direct the Trustee in performing any other action under the Indenture.  </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Before the holders bypass the Trustee and bring their own lawsuit or other formal legal action or take other steps to enforce their rights or protect the holder's interests relating to the notes, the following must occur&#58;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the holders must give the Trustee written notice that an event of default has occurred and remains uncured&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the holders of at least 25% in principal amount of all outstanding notes must make a written request that the Trustee take action because of the default, and must offer reasonable indemnity to the Trustee against the cost and other liabilities of taking that action&#59;</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the Trustee must have not taken action for 60 days after receipt of the above notice and offer of indemnity&#59; and</font></div><div style="margin-top:9pt;padding-left:63pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">the holders of 50% or more of all outstanding notes must not have given the Trustee a direction that is inconsistent with the above notice. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, the holders are entitled at any time to bring a lawsuit for the payment of money due on the holder's notes on or after its due date. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Street name and other indirect holders should consult their banks or brokers for information on how  to give notice or direction to or make a request of the trustee and to make or cancel a declaration of acceleration.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer furnishes to the Trustee every year a written statement from some of the Dutch Issuer's designated officers certifying that, to their knowledge, the Dutch Issuer is in compliance with the Indenture and the notes, or else specifying any default.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.5</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Amendments</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Modification and Waiver</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are three types of changes the Dutch Issuer can make to the Indenture and the notes.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">46</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Changes requiring the holders' approval</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are changes that cannot be made to the notes without the holders' specific approval.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Those types of changes include&#58;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">change the stated maturity of the principal or interest on the notes&#59;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">reduce any amounts due on the notes&#59;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">change any obligation to pay the additional amounts   </font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">reduce the amount of principal payable upon acceleration of the maturity of the notes following a default&#59;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">change the place or currency of payment on the notes&#59;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">impair the holder's right to sue for payment&#59;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">reduce the percentage of holders of notes whose consent is needed to modify or amend the Indenture&#59;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">reduce the percentage of holders of notes whose consent is needed to waive compliance with various provisions of the Indenture or to waive various defaults&#59;</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">modify any other aspect of the provisions dealing with modification and waiver of the Indenture&#59; and</font></div><div style="margin-top:9pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">change the obligations of the Guarantor with respect to payment of principal, premium, if any, and interest payments. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Changes requiring a majority vote</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second type of change to the Indenture and the notes is the kind that requires a vote in favour by holders of notes owning a majority of the outstanding principal amount of the notes. Most changes fall into this category, except for clarifying changes and other changes that would not adversely affect holders of the notes in any material respect.  The same vote would be required to obtain a waiver of certain covenants or a waiver of a past default as further described in the Indenture.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Changes not requiring approval</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The third type of change does not require any vote by holders of notes. This type is limited to clarifications and other changes that would not adversely affect holders of notes in any material respect. </font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.6</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">The Trustee and paying agent</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Indenture designates The Bank of New York as Trustee. The Trustee has two main roles&#58;</font></div><div style="margin-top:9pt;padding-left:60.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"> first, it can enforce the holder's rights against the Dutch Issuer if the Dutch Issuer defaults. There are some limitations on the extent to which the Trustee is obligated to act on the holder's behalf described in the Indenture&#59; and</font></div><div style="margin-top:9pt;padding-left:60.75pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">second, the Trustee performs administrative duties for the Dutch Issuer, such as sending the holder interest payments and notices and registering transfers of the notes.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer pays interest to the holders of the notes if the holders are a direct holder listed in the Trustee's records at the close of business on a particular day in advance of each due date for interest, even if the holders no longer own the notes on the interest due date. That particular day, usually about two weeks in advance of the interest due date, is called the regular record date and is stated in the Indenture. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">47</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="padding-right:-36pt"><font><br></font></div></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer pays interest, principal and any other money due on the notes at the corporate trust office of the Trustee in New York City. That office is currently located at The Bank of New York, 101 Barclay Street, New York, New York 10286. The holders must make arrangements to have the holder's payments picked up at or wired from that office. The Dutch Issuer may also choose to pay interest by mailing checks.</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Dutch Issuer has arranged The Bank of New York (London Office) with address at One Canada Square London E14 5AL as principal paying agent.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If an event of default occurs, or an event, that would be an event of default if the requirements for giving the Dutch Issuer default notice or the Dutch Issuer's default having to exist  for a specific  period  of  time were disregarded  occurs,  the Trustee  may be considered to have a conflicting interest with respect to the notes for  purposes  of  the Trust Indenture Act of 1939. In that case, the Trustee may be required to resign as Trustee under the Indenture and the Dutch Issuer would be required to appoint a successor Trustee.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.7</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Governing law and jurisdiction</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The notes and the Guarantee are governed by the laws of the State of New York.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">3.2.8</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tax</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There is no original discount issue as defined in Section 1232 of the Internal Revenue Code to mention.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.9&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Currency</font></div><div style="margin-top:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Owners of book-entry interests in the notes will receive payments relating to their notes in U.S. dollars.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:161%">48</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>4
<FILENAME>exhibit1211.htm
<DESCRIPTION>EX-12.1
<TEXT>
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<title>Document</title></head><body><div id="i911f9dd9c3424e0ea0365aaf1f4b2749_1"></div><div style="min-height:63.36pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Exhibit 12.1 </font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">CERTIFICATIONS </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">I, Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, certify that&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;padding-left:10.5pt">I have reviewed this annual report on Form 20-F of Telef&#243;nica, S.A.&#59; </font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;padding-left:10.5pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report&#59; </font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;padding-left:10.5pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report&#59; </font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">4.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;padding-left:10.5pt">The company&#8217;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have&#58; </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">a.&#160;&#160;&#160;&#160;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared&#59; </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">b.&#160;&#160;&#160;&#160;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles&#59; </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">c.&#160;&#160;&#160;&#160;Evaluated the effectiveness of the company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation&#59; and </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">d.&#160;&#160;&#160;&#160;Disclosed in this report any change in the company&#8217;s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the company&#8217;s internal control over financial reporting&#59; and </font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">5.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%;padding-left:10.5pt">The company&#8217;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&#8217;s auditors and the audit committee of the company&#8217;s board of directors (or persons performing the equivalent functions)&#58; </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">a.&#160;&#160;&#160;&#160;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&#8217;s ability to record, process, summarize and report financial information&#59; and </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">b.&#160;&#160;&#160;&#160;Any fraud, whether or not material, that involves management or other employees who have a significant role in the company&#8217;s internal control over financial reporting.</font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;</font></div></div></div><hr style="page-break-after:always"><div style="min-height:63.36pt;width:100%"><div><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.557%"><tr><td style="width:1.0%"></td><td style="width:6.054%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.355%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.639%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.818%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:37.114%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58;</font></td><td colspan="3" style="padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 23, 2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:1.5pt;margin-top:3.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#47;s&#47; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:1.5pt;margin-top:2.75pt;padding-right:6.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name&#58;</font></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:1.5pt;margin-top:3.75pt;padding-right:6.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title&#58;</font></div></td><td colspan="3" style="padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chairman and Chief Executive Officer</font></td></tr></table></div><div><font><br></font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>5
<FILENAME>exhibit1221.htm
<DESCRIPTION>EX-12.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
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<title>Document</title></head><body><div id="i424ddb43e75d4b82be5e528fa3888669_1"></div><div style="min-height:63.36pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Exhibit 12.2</font></div><div style="margin-bottom:10pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">CERTIFICATIONS </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">I, Laura Abasolo Garc&#237;a de Baquedano, certify that&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">1.&#160;&#160;&#160;&#160;I have reviewed this annual report on Form 20-F of Telef&#243;nica, S.A.&#59; </font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">2.&#160;&#160;&#160;&#160;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report&#59; </font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3.&#160;&#160;&#160;&#160;Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report&#59; </font></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">4</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:139%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">&#160;&#160;&#160;&#160;The company&#8217;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have&#58; </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">a.&#160;&#160;&#160;&#160;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared&#59; </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">b.&#160;&#160;&#160;&#160;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles&#59; </font></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:139%">c.&#160;&#160;&#160;&#160;Evaluated the effectiveness of the company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation&#59; 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<title>Document</title></head><body><div id="ifceef256bb8a4779baff13b720c02932_1"></div><div style="min-height:63.36pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Exhibit 13.1 </font></div><div style="margin-bottom:1pt;margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">CERTIFICATION PURSUANT TO 18 U.S.C. 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<DOCUMENT>
<TYPE>EX-101.CAL
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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ifrs-full_PaymentsToSuppliersForGoodsAndServices_fe18983c-9dc0-4bb6-b287-3f264f80d64d_terseLabel_en-US" xlink:label="lab_ifrs-full_PaymentsToSuppliersForGoodsAndServices" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total payments</link:label>
    <link:label id="lab_ifrs-full_PaymentsToSuppliersForGoodsAndServices_3c20cd0b-0259-4929-8a0c-1053b72c4b44_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PaymentsToSuppliersForGoodsAndServices" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash paid to suppliers</link:label>
    <link:label id="lab_ifrs-full_PaymentsToSuppliersForGoodsAndServices_label_en-US" xlink:label="lab_ifrs-full_PaymentsToSuppliersForGoodsAndServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to suppliers for goods and services</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsToSuppliersForGoodsAndServices" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsToSuppliersForGoodsAndServices"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsToSuppliersForGoodsAndServices" xlink:to="lab_ifrs-full_PaymentsToSuppliersForGoodsAndServices" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaTechNorthernIrelandLimitedMember_133f76fc-06e7-41d7-a02f-3647ef46c9e9_terseLabel_en-US" xlink:label="lab_tef_TelefonicaTechNorthernIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech Northern Ireland Limited</link:label>
    <link:label id="lab_tef_TelefonicaTechNorthernIrelandLimitedMember_label_en-US" xlink:label="lab_tef_TelefonicaTechNorthernIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech Northern Ireland Limited [Member]</link:label>
    <link:label id="lab_tef_TelefonicaTechNorthernIrelandLimitedMember_documentation_en-US" xlink:label="lab_tef_TelefonicaTechNorthernIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech Northern Ireland Limited</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaTechNorthernIrelandLimitedMember" xlink:href="tef-20221231.xsd#tef_TelefonicaTechNorthernIrelandLimitedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaTechNorthernIrelandLimitedMember" xlink:to="lab_tef_TelefonicaTechNorthernIrelandLimitedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TLHHoldcoSLMember_91bb56e8-c248-4f90-b730-bec71062501b_terseLabel_en-US" xlink:label="lab_tef_TLHHoldcoSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TLH Holdco S.L.</link:label>
    <link:label id="lab_tef_TLHHoldcoSLMember_label_en-US" xlink:label="lab_tef_TLHHoldcoSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TLH Holdco S.L. [Member]</link:label>
    <link:label id="lab_tef_TLHHoldcoSLMember_documentation_en-US" xlink:label="lab_tef_TLHHoldcoSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TLH Holdco S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TLHHoldcoSLMember" xlink:href="tef-20221231.xsd#tef_TLHHoldcoSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TLHHoldcoSLMember" xlink:to="lab_tef_TLHHoldcoSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BusinessCombinationsAdjustmentsOfDebtAndCash_3d4c2d32-8cc7-47de-9121-8e9390c2de2f_terseLabel_en-US" xlink:label="lab_tef_BusinessCombinationsAdjustmentsOfDebtAndCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adjustments of debt and cash</link:label>
    <link:label id="lab_tef_BusinessCombinationsAdjustmentsOfDebtAndCash_label_en-US" xlink:label="lab_tef_BusinessCombinationsAdjustmentsOfDebtAndCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combinations, Adjustments Of Debt And Cash</link:label>
    <link:label id="lab_tef_BusinessCombinationsAdjustmentsOfDebtAndCash_documentation_en-US" xlink:label="lab_tef_BusinessCombinationsAdjustmentsOfDebtAndCash" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combinations, Adjustments Of Debt And Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BusinessCombinationsAdjustmentsOfDebtAndCash" xlink:href="tef-20221231.xsd#tef_BusinessCombinationsAdjustmentsOfDebtAndCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BusinessCombinationsAdjustmentsOfDebtAndCash" xlink:to="lab_tef_BusinessCombinationsAdjustmentsOfDebtAndCash" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCashPaymentsFromOperatingActivities_63e890b0-8e50-471d-9884-80eb3e4fb9c9_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_OtherCashPaymentsFromOperatingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments related to cancellation of commitments</link:label>
    <link:label id="lab_ifrs-full_OtherCashPaymentsFromOperatingActivities_label_en-US" xlink:label="lab_ifrs-full_OtherCashPaymentsFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other cash payments from operating activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCashPaymentsFromOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCashPaymentsFromOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCashPaymentsFromOperatingActivities" xlink:to="lab_ifrs-full_OtherCashPaymentsFromOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SantiagoFernandezValbuenaMember_994d9b94-17ba-41e0-b1af-fe354f52a2d9_terseLabel_en-US" xlink:label="lab_tef_SantiagoFernandezValbuenaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mr. Santiago Fernandez Valbuena</link:label>
    <link:label id="lab_tef_SantiagoFernandezValbuenaMember_label_en-US" xlink:label="lab_tef_SantiagoFernandezValbuenaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Santiago Fernandez Valbuena [Member]</link:label>
    <link:label id="lab_tef_SantiagoFernandezValbuenaMember_documentation_en-US" xlink:label="lab_tef_SantiagoFernandezValbuenaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Santiago Fernandez Valbuena [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SantiagoFernandezValbuenaMember" xlink:href="tef-20221231.xsd#tef_SantiagoFernandezValbuenaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SantiagoFernandezValbuenaMember" xlink:to="lab_tef_SantiagoFernandezValbuenaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BETernaBVNetherlandsMember_5456a054-8cae-4ab2-b6df-30fad606ada9_terseLabel_en-US" xlink:label="lab_tef_BETernaBVNetherlandsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna B.V. (Netherlands)</link:label>
    <link:label id="lab_tef_BETernaBVNetherlandsMember_label_en-US" xlink:label="lab_tef_BETernaBVNetherlandsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna B.V. (Netherlands) [Member]</link:label>
    <link:label id="lab_tef_BETernaBVNetherlandsMember_documentation_en-US" xlink:label="lab_tef_BETernaBVNetherlandsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna B.V. (Netherlands)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaBVNetherlandsMember" xlink:href="tef-20221231.xsd#tef_BETernaBVNetherlandsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BETernaBVNetherlandsMember" xlink:to="lab_tef_BETernaBVNetherlandsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SyndicatedLoanDueJanuary132028Member_d94c54f2-9bce-4718-8c82-e35959c9e371_terseLabel_en-US" xlink:label="lab_tef_SyndicatedLoanDueJanuary132028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due January 13, 2028</link:label>
    <link:label id="lab_tef_SyndicatedLoanDueJanuary132028Member_label_en-US" xlink:label="lab_tef_SyndicatedLoanDueJanuary132028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due January 13, 2028 [Member]</link:label>
    <link:label id="lab_tef_SyndicatedLoanDueJanuary132028Member_documentation_en-US" xlink:label="lab_tef_SyndicatedLoanDueJanuary132028Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due January 13, 2028</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SyndicatedLoanDueJanuary132028Member" xlink:href="tef-20221231.xsd#tef_SyndicatedLoanDueJanuary132028Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SyndicatedLoanDueJanuary132028Member" xlink:to="lab_tef_SyndicatedLoanDueJanuary132028Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss_574b760d-0ec9-4cf7-8c75-d0c86c2ed0e9_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Changes in fair value of asset derivatives at fair value through profit or loss</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss_label_en-US" xlink:label="lab_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on financial assets at fair value through profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="lab_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NewDebtAgreementMember_d2b75409-ff8f-4642-a99c-268b78df26ac_terseLabel_en-US" xlink:label="lab_tef_NewDebtAgreementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New Debt Agreement</link:label>
    <link:label id="lab_tef_NewDebtAgreementMember_label_en-US" xlink:label="lab_tef_NewDebtAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New Debt Agreement [Member]</link:label>
    <link:label id="lab_tef_NewDebtAgreementMember_documentation_en-US" xlink:label="lab_tef_NewDebtAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New Debt Agreement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NewDebtAgreementMember" xlink:href="tef-20221231.xsd#tef_NewDebtAgreementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NewDebtAgreementMember" xlink:to="lab_tef_NewDebtAgreementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable_c8983465-f112-47a7-8a63-1ba5ff4d56b6_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable" xlink:to="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersTable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember_f6ff6696-261e-460c-abc4-0e0df101228a_terseLabel_en-US" xlink:label="lab_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated provision of 750 million euros by Telef&#243;nica Germany GmbH</link:label>
    <link:label id="lab_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember_label_en-US" xlink:label="lab_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Bilateral Provision Of Telefonica Germany GmbH [Member]</link:label>
    <link:label id="lab_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember_documentation_en-US" xlink:label="lab_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Bilateral Provision Of Telefonica Germany GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember" xlink:href="tef-20221231.xsd#tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember" xlink:to="lab_tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherBenefitsAxis_24eaa6cd-37fb-43d1-ae17-2360cf856c73_terseLabel_en-US" xlink:label="lab_tef_OtherBenefitsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Benefits [Axis]</link:label>
    <link:label id="lab_tef_OtherBenefitsAxis_label_en-US" xlink:label="lab_tef_OtherBenefitsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Benefits [Axis]</link:label>
    <link:label id="lab_tef_OtherBenefitsAxis_documentation_en-US" xlink:label="lab_tef_OtherBenefitsAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherBenefitsAxis" xlink:href="tef-20221231.xsd#tef_OtherBenefitsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherBenefitsAxis" xlink:to="lab_tef_OtherBenefitsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_JoseJavierEcheniqueLandiribarMember_539e776a-8720-45f4-be50-6e36ddb3ba0a_terseLabel_en-US" xlink:label="lab_tef_JoseJavierEcheniqueLandiribarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mr. Jos&#233; Javier Echenique Landir&#237;bar</link:label>
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    <link:label id="lab_ifrs-full_LevelsOfFairValueHierarchyAxis_1e077ba3-602a-4a9d-bf37-39e0cb9ee312_terseLabel_en-US" xlink:label="lab_ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Levels of fair value hierarchy [axis]</link:label>
    <link:label id="lab_ifrs-full_LevelsOfFairValueHierarchyAxis_label_en-US" xlink:label="lab_ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Levels of fair value hierarchy [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis"/>
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    <link:label id="lab_tef_TelefonicaSpainAndGermanyMember_cf7b930b-4444-4b1b-aa6e-8a5453000c08_terseLabel_en-US" xlink:label="lab_tef_TelefonicaSpainAndGermanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Spain And Germany</link:label>
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    <link:label id="lab_tef_TelefonicaSpainAndGermanyMember_documentation_en-US" xlink:label="lab_tef_TelefonicaSpainAndGermanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Spain And Germany</link:label>
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    <link:label id="lab_tef_AdquiraEspanaSAMember_fdf6e8dd-6a4b-43c4-8c7c-c76301a71a7b_terseLabel_en-US" xlink:label="lab_tef_AdquiraEspanaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adquira Espa&#241;a, S.A.</link:label>
    <link:label id="lab_tef_AdquiraEspanaSAMember_label_en-US" xlink:label="lab_tef_AdquiraEspanaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adquira Espana, S.A. [Member]</link:label>
    <link:label id="lab_tef_AdquiraEspanaSAMember_documentation_en-US" xlink:label="lab_tef_AdquiraEspanaSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adquira Espana, S.A.</link:label>
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    <link:label id="lab_tef_ColombianGovernmentMember_f3a31d6f-619f-4dbc-9cf5-02d32d23444d_terseLabel_en-US" xlink:label="lab_tef_ColombianGovernmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombian Government</link:label>
    <link:label id="lab_tef_ColombianGovernmentMember_label_en-US" xlink:label="lab_tef_ColombianGovernmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombian Government [Member]</link:label>
    <link:label id="lab_tef_ColombianGovernmentMember_documentation_en-US" xlink:label="lab_tef_ColombianGovernmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombian Government [Member]</link:label>
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    <link:label id="lab_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions_9667a947-ec16-4cb8-ae46-7f70ed0c16d8_terseLabel_en-US" xlink:label="lab_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of the towers division of Telxius</link:label>
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    <link:label id="lab_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions_documentation_en-US" xlink:label="lab_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Addition Of Lease Liabilities, Sale Of Divisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions" xlink:href="tef-20221231.xsd#tef_AdditionOfLeaseLiabilitiesSaleOfDivisions"/>
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    <link:label id="lab_tef_TelefonicaGestionIntegraldeEdificiosyServiciosMember_c227bf71-e4bf-4364-bb96-8354b298c565_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGestionIntegraldeEdificiosyServiciosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Gesti&#243;n Integral de Edificios y Servicios S.L.</link:label>
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    <link:label id="lab_tef_NumberOfRealEstateUnitsToDeployInFuture_4854058e-c2f2-4efb-8a33-9bb23c9ed637_terseLabel_en-US" xlink:label="lab_tef_NumberOfRealEstateUnitsToDeployInFuture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of real estate units to deploy in future</link:label>
    <link:label id="lab_tef_NumberOfRealEstateUnitsToDeployInFuture_label_en-US" xlink:label="lab_tef_NumberOfRealEstateUnitsToDeployInFuture" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Real Estate Units To Deploy In Future</link:label>
    <link:label id="lab_tef_NumberOfRealEstateUnitsToDeployInFuture_documentation_en-US" xlink:label="lab_tef_NumberOfRealEstateUnitsToDeployInFuture" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Real Estate Units To Deploy In Future</link:label>
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    <link:label id="lab_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_eb0c2028-8675-4c8b-8622-94a79c5172b1_totalLabel_en-US" xlink:label="lab_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share of income (loss) of investments accounted for by the equity method</link:label>
    <link:label id="lab_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_label_en-US" xlink:label="lab_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share of profit (loss) of joint ventures accounted for using equity method</link:label>
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    <link:label id="lab_tef_PwCInternationalOrganizationMember_09d9d8dd-ce15-41ac-a6ed-576d469da21a_terseLabel_en-US" xlink:label="lab_tef_PwCInternationalOrganizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other PwC</link:label>
    <link:label id="lab_tef_PwCInternationalOrganizationMember_label_en-US" xlink:label="lab_tef_PwCInternationalOrganizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PwC International Organization [Member]</link:label>
    <link:label id="lab_tef_PwCInternationalOrganizationMember_documentation_en-US" xlink:label="lab_tef_PwCInternationalOrganizationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PwC International Organization [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PwCInternationalOrganizationMember" xlink:href="tef-20221231.xsd#tef_PwCInternationalOrganizationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PwCInternationalOrganizationMember" xlink:to="lab_tef_PwCInternationalOrganizationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfCashFlowItemsFinancingActivitiesDividendsPaidProceedsFromIssuanceOfShareCapitalAndOtherOperationsTableTextBlock_09a31fe0-3271-4280-b567-8d32d926dbd3_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfCashFlowItemsFinancingActivitiesDividendsPaidProceedsFromIssuanceOfShareCapitalAndOtherOperationsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Financing Activities: Dividends Paid, Proceeds from Issuance of Share Capital, and Other Operations</link:label>
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    <link:label id="lab_tef_AsterionIndustrialPartnersSGEICMember_ba5701dc-8a85-4146-9723-9a74321e698a_terseLabel_en-US" xlink:label="lab_tef_AsterionIndustrialPartnersSGEICMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asterion Industrial Partners SGEIC</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AsterionIndustrialPartnersSGEICMember" xlink:to="lab_tef_AsterionIndustrialPartnersSGEICMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfGeographicalAreasExplanatory_b2c6263a-ac4b-471b-b1b7-83e9174c0cfe_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Composition of Segment Revenues, Detailed by the Main Countries of Operation</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfGeographicalAreasExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfGeographicalAreasExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of geographical areas [text block]</link:label>
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    <link:label id="lab_ifrs-full_EntitysTotalForBusinessCombinationsMember_f02789d1-3ff4-4735-97b4-8c10bda4a4f3_terseLabel_en-US" xlink:label="lab_ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity's total for business combinations</link:label>
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    <link:label id="lab_tef_IncreaseDecreaseInDepreciationRightOfUseAssets_0290a239-5392-433c-bc5b-7680fc5bd75e_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInDepreciationRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase in amortization, right-of-use assets</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInDepreciationRightOfUseAssets_label_en-US" xlink:label="lab_tef_IncreaseDecreaseInDepreciationRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) in depreciation, right-of-use assets</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInDepreciationRightOfUseAssets_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseInDepreciationRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) in depreciation, right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseInDepreciationRightOfUseAssets" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseInDepreciationRightOfUseAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseInDepreciationRightOfUseAssets" xlink:to="lab_tef_IncreaseDecreaseInDepreciationRightOfUseAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BoardOfDirectorsMember_0f814b7e-1480-4787-bf49-d155e6438720_terseLabel_en-US" xlink:label="lab_tef_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Board of Directors</link:label>
    <link:label id="lab_tef_BoardOfDirectorsMember_label_en-US" xlink:label="lab_tef_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Board Of Directors [Member]</link:label>
    <link:label id="lab_tef_BoardOfDirectorsMember_documentation_en-US" xlink:label="lab_tef_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Board Of Directors [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BoardOfDirectorsMember" xlink:href="tef-20221231.xsd#tef_BoardOfDirectorsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BoardOfDirectorsMember" xlink:to="lab_tef_BoardOfDirectorsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OptionContractMember_3f213957-98c0-45cc-a4bb-37cbf7ec2857_terseLabel_en-US" xlink:label="lab_ifrs-full_OptionContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Option contract</link:label>
    <link:label id="lab_ifrs-full_OptionContractMember_label_en-US" xlink:label="lab_ifrs-full_OptionContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Option contract [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OptionContractMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OptionContractMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OptionContractMember" xlink:to="lab_ifrs-full_OptionContractMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases_8aa0c3cf-182a-4767-bf56-529e72e66645_terseLabel_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-term leases included in external services</link:label>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases_label_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense related to leases included in operating results as external services, short-term leases</link:label>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases_documentation_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense related to leases included in operating results as external services, short-term leases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases" xlink:href="tef-20221231.xsd#tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases" xlink:to="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PonterlParticipacionesSLAndTelxiusSAMember_fb182d51-b0ea-4ba1-83ff-cf4d16af7289_terseLabel_en-US" xlink:label="lab_tef_PonterlParticipacionesSLAndTelxiusSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share capital increase Pontel and Telxius (see Note 17.h)</link:label>
    <link:label id="lab_tef_PonterlParticipacionesSLAndTelxiusSAMember_label_en-US" xlink:label="lab_tef_PonterlParticipacionesSLAndTelxiusSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ponterl Participaciones, S.L. And Telxius S.A. [Member]</link:label>
    <link:label id="lab_tef_PonterlParticipacionesSLAndTelxiusSAMember_documentation_en-US" xlink:label="lab_tef_PonterlParticipacionesSLAndTelxiusSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ponterl Participaciones, S.L. And Telxius S.A.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PonterlParticipacionesSLAndTelxiusSAMember" xlink:href="tef-20221231.xsd#tef_PonterlParticipacionesSLAndTelxiusSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PonterlParticipacionesSLAndTelxiusSAMember" xlink:to="lab_tef_PonterlParticipacionesSLAndTelxiusSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_InversionesTelefonicaInternacionalHoldingSpAMember_bbf3e0bc-d874-4ca4-b2d6-766547c701cf_terseLabel_en-US" xlink:label="lab_tef_InversionesTelefonicaInternacionalHoldingSpAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inversiones Telef&#243;nica Internacional Holding SpA.</link:label>
    <link:label id="lab_tef_InversionesTelefonicaInternacionalHoldingSpAMember_label_en-US" xlink:label="lab_tef_InversionesTelefonicaInternacionalHoldingSpAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inversiones Telef&#243;nica Internacional Holding SpA. [Member]</link:label>
    <link:label id="lab_tef_InversionesTelefonicaInternacionalHoldingSpAMember_documentation_en-US" xlink:label="lab_tef_InversionesTelefonicaInternacionalHoldingSpAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inversiones Telef&#243;nica Internacional Holding SpA.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_InversionesTelefonicaInternacionalHoldingSpAMember" xlink:href="tef-20221231.xsd#tef_InversionesTelefonicaInternacionalHoldingSpAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_InversionesTelefonicaInternacionalHoldingSpAMember" xlink:to="lab_tef_InversionesTelefonicaInternacionalHoldingSpAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination_aca27288-18a3-429c-913d-dd89e08124a7_terseLabel_en-US" xlink:label="lab_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisition costs</link:label>
    <link:label id="lab_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination_label_en-US" xlink:label="lab_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisition-related costs for transaction recognised separately from acquisition of assets and assumption of liabilities in business combination</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:to="lab_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxAssets_fe56f42b-10ad-47da-a1f6-db127d2f593b_terseLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax assets</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxAssets_e3497a83-0b3b-4ecc-8068-9533373a7229_periodStartLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Beginning balance, deferred tax assets</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxAssets_da28f351-403c-4443-824c-39477b5a495e_periodEndLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ending balance, deferred tax assets</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxAssets_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxAssets" xlink:to="lab_ifrs-full_DeferredTaxAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable_60dc40e2-bab0-48f9-b52b-64625297d8fe_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of offsetting of financial liabilities [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of offsetting of financial liabilities [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable" xlink:to="lab_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AmountRepurchasedofEquityInstrument_99f215c0-3922-4b98-b948-dbbbd89fdd3e_negatedTerseLabel_en-US" xlink:label="lab_tef_AmountRepurchasedofEquityInstrument" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount repurchased</link:label>
    <link:label id="lab_tef_AmountRepurchasedofEquityInstrument_f1181947-4e47-49d6-8a79-98baaf9561e8_terseLabel_en-US" xlink:label="lab_tef_AmountRepurchasedofEquityInstrument" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount repurchased</link:label>
    <link:label id="lab_tef_AmountRepurchasedofEquityInstrument_label_en-US" xlink:label="lab_tef_AmountRepurchasedofEquityInstrument" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount Repurchased of Equity Instrument</link:label>
    <link:label id="lab_tef_AmountRepurchasedofEquityInstrument_documentation_en-US" xlink:label="lab_tef_AmountRepurchasedofEquityInstrument" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount Repurchased of Equity Instrument</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AmountRepurchasedofEquityInstrument" xlink:href="tef-20221231.xsd#tef_AmountRepurchasedofEquityInstrument"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AmountRepurchasedofEquityInstrument" xlink:to="lab_tef_AmountRepurchasedofEquityInstrument" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_UnearnedPremiums_b20795f0-d3f5-4ad9-9baf-aa36c00c1ffb_terseLabel_en-US" xlink:label="lab_ifrs-full_UnearnedPremiums" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unearned premiums</link:label>
    <link:label id="lab_ifrs-full_UnearnedPremiums_label_en-US" xlink:label="lab_ifrs-full_UnearnedPremiums" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unearned premiums</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UnearnedPremiums" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_UnearnedPremiums"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_UnearnedPremiums" xlink:to="lab_ifrs-full_UnearnedPremiums" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RevenueFromContractsWithCustomersAbstract_a1049ccc-22ff-406d-9256-a457f4a99ae8_terseLabel_en-US" xlink:label="lab_tef_RevenueFromContractsWithCustomersAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue From Contracts With Customers [Abstract]</link:label>
    <link:label id="lab_tef_RevenueFromContractsWithCustomersAbstract_label_en-US" xlink:label="lab_tef_RevenueFromContractsWithCustomersAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue From Contracts With Customers [Abstract]</link:label>
    <link:label id="lab_tef_RevenueFromContractsWithCustomersAbstract_documentation_en-US" xlink:label="lab_tef_RevenueFromContractsWithCustomersAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue From Contracts With Customers [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RevenueFromContractsWithCustomersAbstract" xlink:href="tef-20221231.xsd#tef_RevenueFromContractsWithCustomersAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RevenueFromContractsWithCustomersAbstract" xlink:to="lab_tef_RevenueFromContractsWithCustomersAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CapitalRedemptionReserve_7da9492f-3898-4ebe-9205-16b2c99dbfc8_terseLabel_en-US" xlink:label="lab_ifrs-full_CapitalRedemptionReserve" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital redemption reserve</link:label>
    <link:label id="lab_ifrs-full_CapitalRedemptionReserve_label_en-US" xlink:label="lab_ifrs-full_CapitalRedemptionReserve" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital redemption reserve</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CapitalRedemptionReserve" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CapitalRedemptionReserve"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CapitalRedemptionReserve" xlink:to="lab_ifrs-full_CapitalRedemptionReserve" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_d6e66026-6b55-45a3-abb6-9a56a8d758e8_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_269abc80-727a-4fcf-bed5-1cbe46ce4daf_periodStartLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment at beginning of period</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_4ab44f2e-9c13-4c26-b5e9-c5c0d05ada39_periodEndLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment at end of period</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_d7ed54ed-ea9f-4e5d-892f-f3cd00340b62_verboseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fixed Assets</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipment" xlink:to="lab_ifrs-full_PropertyPlantAndEquipment" xlink:type="arc" order="1"/>
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    <link:label id="lab_tef_T.EUROPEBVSEP_00BONDGLOBALDMember_label_en-US" xlink:label="lab_tef_T.EUROPEBVSEP_00BONDGLOBALDMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">T. EUROPE BV SEP_00 BOND GLOBAL D [Member]</link:label>
    <link:label id="lab_tef_T.EUROPEBVSEP_00BONDGLOBALDMember_documentation_en-US" xlink:label="lab_tef_T.EUROPEBVSEP_00BONDGLOBALDMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">T. EUROPE BV SEP_00 BOND GLOBAL D [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_T.EUROPEBVSEP_00BONDGLOBALDMember" xlink:to="lab_tef_T.EUROPEBVSEP_00BONDGLOBALDMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member_de2232ed-25f8-4721-af4a-c241b99474a9_terseLabel_en-US" xlink:label="lab_tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-controlling interests in Telefonica Brasil, S.A.</link:label>
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    <link:label id="lab_tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member_documentation_en-US" xlink:label="lab_tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-controlling Interests In Telefonica Brasil, S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member" xlink:href="tef-20221231.xsd#tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member" xlink:to="lab_tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems_40750bba-978c-42ca-ae7d-2d6ecca25a11_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:to="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProportionOfVotingPowerHeldInAssociate_4a081f45-20b2-4340-8530-a7b34a1efa8b_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of voting rights held in associate (in percentage)</link:label>
    <link:label id="lab_ifrs-full_ProportionOfVotingPowerHeldInAssociate_label_en-US" xlink:label="lab_ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of voting rights held in associate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProportionOfVotingPowerHeldInAssociate"/>
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    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod_cb147ec9-ba40-4f63-9ee8-b541b1c64320_terseLabel_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Shares delivered subject to retention period of one year (as a percent)</link:label>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod_label_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Shares Delivered Subject to Retention Period</link:label>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod_documentation_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Shares Delivered Subject to Retention Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod" xlink:href="tef-20221231.xsd#tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod" xlink:to="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofSharesDeliveredSubjecttoRetentionPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_b0488fcf-b4df-40b5-8689-01af72529dca_terseLabel_en-US" xlink:label="lab_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Participants contributions</link:label>
    <link:label id="lab_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_label_en-US" xlink:label="lab_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease (increase) in net defined benefit liability (asset) resulting from contributions to plan by plan participants</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:to="lab_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_A12July2025Member_8cbd27e7-5aa9-4a18-8ac1-507db2f1c762_terseLabel_en-US" xlink:label="lab_tef_A12July2025Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">12 July 2025</link:label>
    <link:label id="lab_tef_A12July2025Member_label_en-US" xlink:label="lab_tef_A12July2025Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">12 July 2025 [Member]</link:label>
    <link:label id="lab_tef_A12July2025Member_documentation_en-US" xlink:label="lab_tef_A12July2025Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">12 July 2025</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_A12July2025Member" xlink:href="tef-20221231.xsd#tef_A12July2025Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_A12July2025Member" xlink:to="lab_tef_A12July2025Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EntitysTotalForJointVenturesMember_293c207d-92aa-485e-b92c-62fce910e03a_terseLabel_en-US" xlink:label="lab_ifrs-full_EntitysTotalForJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity's total for joint ventures</link:label>
    <link:label id="lab_ifrs-full_EntitysTotalForJointVenturesMember_label_en-US" xlink:label="lab_ifrs-full_EntitysTotalForJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity's total for joint ventures [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EntitysTotalForJointVenturesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EntitysTotalForJointVenturesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EntitysTotalForJointVenturesMember" xlink:to="lab_ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BuendiaEstudiosSLMember_cbc18341-5bf8-4dfa-92c1-341f2cb15ec0_terseLabel_en-US" xlink:label="lab_tef_BuendiaEstudiosSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buend&#237;a Estudios, S.L. Service provision related to film and video production activities</link:label>
    <link:label id="lab_tef_BuendiaEstudiosSLMember_label_en-US" xlink:label="lab_tef_BuendiaEstudiosSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buendia Estudios, S.L. [Member]</link:label>
    <link:label id="lab_tef_BuendiaEstudiosSLMember_documentation_en-US" xlink:label="lab_tef_BuendiaEstudiosSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buendia Estudios, S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BuendiaEstudiosSLMember" xlink:href="tef-20221231.xsd#tef_BuendiaEstudiosSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BuendiaEstudiosSLMember" xlink:to="lab_tef_BuendiaEstudiosSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfConsolidationsAbstract_1a6d03ad-6fa4-404c-b44f-74e1caf98261_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfConsolidationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Consolidations [Abstract]</link:label>
    <link:label id="lab_tef_DisclosureOfConsolidationsAbstract_label_en-US" xlink:label="lab_tef_DisclosureOfConsolidationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Consolidations [Abstract]</link:label>
    <link:label id="lab_tef_DisclosureOfConsolidationsAbstract_documentation_en-US" xlink:label="lab_tef_DisclosureOfConsolidationsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Consolidations [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfConsolidationsAbstract" xlink:href="tef-20221231.xsd#tef_DisclosureOfConsolidationsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfConsolidationsAbstract" xlink:to="lab_tef_DisclosureOfConsolidationsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FloatingtoFixedInterestRateMember_c66bf853-f73e-4e1a-9bcb-2dfc38fdc407_terseLabel_en-US" xlink:label="lab_tef_FloatingtoFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Floating to fixed</link:label>
    <link:label id="lab_tef_FloatingtoFixedInterestRateMember_label_en-US" xlink:label="lab_tef_FloatingtoFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Floating to Fixed Interest Rate [Member]</link:label>
    <link:label id="lab_tef_FloatingtoFixedInterestRateMember_documentation_en-US" xlink:label="lab_tef_FloatingtoFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Floating to Fixed Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FloatingtoFixedInterestRateMember" xlink:href="tef-20221231.xsd#tef_FloatingtoFixedInterestRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FloatingtoFixedInterestRateMember" xlink:to="lab_tef_FloatingtoFixedInterestRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AlamoHoldCoSLMember_cb9c4a80-78f9-4aaf-a1a4-b316fc14091b_terseLabel_en-US" xlink:label="lab_tef_AlamoHoldCoSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Alamo HoldCo S.L.</link:label>
    <link:label id="lab_tef_AlamoHoldCoSLMember_label_en-US" xlink:label="lab_tef_AlamoHoldCoSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Alamo HoldCo S.L. [Member]</link:label>
    <link:label id="lab_tef_AlamoHoldCoSLMember_documentation_en-US" xlink:label="lab_tef_AlamoHoldCoSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Alamo HoldCo S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AlamoHoldCoSLMember" xlink:href="tef-20221231.xsd#tef_AlamoHoldCoSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AlamoHoldCoSLMember" xlink:to="lab_tef_AlamoHoldCoSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentFinancialAssets_07d96073-453a-46a6-9015-034597c8a265_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current financial assets</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCurrentFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentFinancialAssets" xlink:to="lab_ifrs-full_OtherCurrentFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentAssets_03a8fb73-225b-428d-a1fd-8d7f8d06c566_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CURRENT ASSETS</link:label>
    <link:label id="lab_ifrs-full_CurrentAssets_a24e79df-1ade-4dba-8c8c-b12824fa57a8_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current assets</link:label>
    <link:label id="lab_ifrs-full_CurrentAssets_label_en-US" xlink:label="lab_ifrs-full_CurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssets" xlink:to="lab_ifrs-full_CurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EMTNO2GBPMember_b4b139ff-560b-465a-9832-9c0b50e93705_terseLabel_en-US" xlink:label="lab_tef_EMTNO2GBPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EMTN O2 GBP</link:label>
    <link:label id="lab_tef_EMTNO2GBPMember_label_en-US" xlink:label="lab_tef_EMTNO2GBPMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EMTN O2 GBP [Member]</link:label>
    <link:label id="lab_tef_EMTNO2GBPMember_documentation_en-US" xlink:label="lab_tef_EMTNO2GBPMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EMTN O2 GBP [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EMTNO2GBPMember" xlink:href="tef-20221231.xsd#tef_EMTNO2GBPMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EMTNO2GBPMember" xlink:to="lab_tef_EMTNO2GBPMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BilateralLoansMember_1cd5f771-3443-4330-a84a-da95e83e0f2d_terseLabel_en-US" xlink:label="lab_tef_BilateralLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral loans of Telefonica S.A.</link:label>
    <link:label id="lab_tef_BilateralLoansMember_label_en-US" xlink:label="lab_tef_BilateralLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loans [Member]</link:label>
    <link:label id="lab_tef_BilateralLoansMember_documentation_en-US" xlink:label="lab_tef_BilateralLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loans [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BilateralLoansMember" xlink:href="tef-20221231.xsd#tef_BilateralLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BilateralLoansMember" xlink:to="lab_tef_BilateralLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DerivativesMember_ff862f65-1a40-4844-985b-b1ab3497300f_terseLabel_en-US" xlink:label="lab_ifrs-full_DerivativesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Derivative instruments</link:label>
    <link:label id="lab_ifrs-full_DerivativesMember_21f660e0-9b11-4e64-97e2-0c72f963355b_verboseLabel_en-US" xlink:label="lab_ifrs-full_DerivativesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Derivative financial assets (Note 19)</link:label>
    <link:label id="lab_ifrs-full_DerivativesMember_bc382362-faf6-4e20-a434-c30ee8621a5e_netLabel_en-US" xlink:label="lab_ifrs-full_DerivativesMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-term derivative financial assets (Note 19)</link:label>
    <link:label id="lab_ifrs-full_DerivativesMember_label_en-US" xlink:label="lab_ifrs-full_DerivativesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Derivatives [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DerivativesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DerivativesMember" xlink:to="lab_ifrs-full_DerivativesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OperatingSegmentsAbstract_299c8356-6b82-4fc6-ac57-9d35714533f6_terseLabel_en-US" xlink:label="lab_tef_OperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Segments [Abstract]</link:label>
    <link:label id="lab_tef_OperatingSegmentsAbstract_label_en-US" xlink:label="lab_tef_OperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Segments [Abstract]</link:label>
    <link:label id="lab_tef_OperatingSegmentsAbstract_documentation_en-US" xlink:label="lab_tef_OperatingSegmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Segments [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OperatingSegmentsAbstract" xlink:href="tef-20221231.xsd#tef_OperatingSegmentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OperatingSegmentsAbstract" xlink:to="lab_tef_OperatingSegmentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CurrentProvisionsForDefinedBenefitPlans_d9ea2ea2-cb19-4d63-a811-50d70446682e_terseLabel_en-US" xlink:label="lab_tef_CurrentProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Post-employment defined benefit plans</link:label>
    <link:label id="lab_tef_CurrentProvisionsForDefinedBenefitPlans_label_en-US" xlink:label="lab_tef_CurrentProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Provisions For Defined Benefit Plans</link:label>
    <link:label id="lab_tef_CurrentProvisionsForDefinedBenefitPlans_documentation_en-US" xlink:label="lab_tef_CurrentProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Provisions For Defined Benefit Plans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentProvisionsForDefinedBenefitPlans" xlink:href="tef-20221231.xsd#tef_CurrentProvisionsForDefinedBenefitPlans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CurrentProvisionsForDefinedBenefitPlans" xlink:to="lab_tef_CurrentProvisionsForDefinedBenefitPlans" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GeographicalAreasAxis_c75b0eac-435a-44fa-a49f-bee49495099e_terseLabel_en-US" xlink:label="lab_ifrs-full_GeographicalAreasAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical areas [axis]</link:label>
    <link:label id="lab_ifrs-full_GeographicalAreasAxis_label_en-US" xlink:label="lab_ifrs-full_GeographicalAreasAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical areas [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GeographicalAreasAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GeographicalAreasAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GeographicalAreasAxis" xlink:to="lab_ifrs-full_GeographicalAreasAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2030Option1Member_8cb5cb89-1775-42ec-8c2c-276ccc763e15_terseLabel_en-US" xlink:label="lab_tef_Expiringin2030Option1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 1</link:label>
    <link:label id="lab_tef_Expiringin2030Option1Member_label_en-US" xlink:label="lab_tef_Expiringin2030Option1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 1 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2030Option1Member_documentation_en-US" xlink:label="lab_tef_Expiringin2030Option1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2030Option1Member" xlink:href="tef-20221231.xsd#tef_Expiringin2030Option1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2030Option1Member" xlink:to="lab_tef_Expiringin2030Option1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CommonSharesAcquired_05922009-8aa7-4243-a09f-14863555a76e_terseLabel_en-US" xlink:label="lab_tef_CommonSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisitions (shares)</link:label>
    <link:label id="lab_tef_CommonSharesAcquired_label_en-US" xlink:label="lab_tef_CommonSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Shares Acquired</link:label>
    <link:label id="lab_tef_CommonSharesAcquired_documentation_en-US" xlink:label="lab_tef_CommonSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Shares Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CommonSharesAcquired" xlink:href="tef-20221231.xsd#tef_CommonSharesAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CommonSharesAcquired" xlink:to="lab_tef_CommonSharesAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory_7e58c48e-51e1-4066-9b27-f63ccc6af179_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Auditors' Fees</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of auditors' remuneration [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfAuditorsRemunerationExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory" xlink:to="lab_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents_9f21989a-e941-4859-869e-54e648e1639b_negatedTerseLabel_en-US" xlink:label="lab_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments on financial investments not included under cash equivalents</link:label>
    <link:label id="lab_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents_label_en-US" xlink:label="lab_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments For Financial Investments Not Included Under Cash Equivalents</link:label>
    <link:label id="lab_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents_documentation_en-US" xlink:label="lab_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments For Financial Investments Not Included Under Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" xlink:href="tef-20221231.xsd#tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" xlink:to="lab_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ExpiringIn2051Member_9063fbf3-62c3-43f3-b901-4ec1e5da1279_terseLabel_en-US" xlink:label="lab_tef_ExpiringIn2051Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2051</link:label>
    <link:label id="lab_tef_ExpiringIn2051Member_label_en-US" xlink:label="lab_tef_ExpiringIn2051Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2051 [Member]</link:label>
    <link:label id="lab_tef_ExpiringIn2051Member_documentation_en-US" xlink:label="lab_tef_ExpiringIn2051Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2051</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ExpiringIn2051Member" xlink:href="tef-20221231.xsd#tef_ExpiringIn2051Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ExpiringIn2051Member" xlink:to="lab_tef_ExpiringIn2051Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfContractsMember_7ed9ef0e-28e4-4662-8bbf-106ba8add6ba_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of contracts [member]</link:label>
    <link:label id="lab_ifrs-full_TypesOfContractsMember_label_en-US" xlink:label="lab_ifrs-full_TypesOfContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of contracts [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfContractsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TypesOfContractsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfContractsMember" xlink:to="lab_ifrs-full_TypesOfContractsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage_fb525baf-afb8-4b69-8066-d6b7147bb1e8_terseLabel_en-US" xlink:label="lab_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power purchase agreement, total consumption for technical buildings in country, renewable energy (in percentage)</link:label>
    <link:label id="lab_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage_label_en-US" xlink:label="lab_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power Purchase Agreement, Total Consumption For Technical Buildings In Country, Renewable Energy, Percentage</link:label>
    <link:label id="lab_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage_documentation_en-US" xlink:label="lab_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power Purchase Agreement, Total Consumption For Technical Buildings In Country, Renewable Energy, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage" xlink:href="tef-20221231.xsd#tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage" xlink:to="lab_tef_PowerPurchaseAgreementTotalConsumptionForTechnicalBuildingsInCountryRenewableEnergyPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory_a07d0ed5-5de8-4300-bcbc-689bbd02a93c_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Detailed Information about Financial Instruments</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about financial instruments [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ExpectedOwnershipOfRealEstateUnit_a420618d-caff-4c56-bede-b49d9f096f0a_terseLabel_en-US" xlink:label="lab_tef_ExpectedOwnershipOfRealEstateUnit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expected ownership of real estate unit</link:label>
    <link:label id="lab_tef_ExpectedOwnershipOfRealEstateUnit_label_en-US" xlink:label="lab_tef_ExpectedOwnershipOfRealEstateUnit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expected Ownership Of Real Estate Unit</link:label>
    <link:label id="lab_tef_ExpectedOwnershipOfRealEstateUnit_documentation_en-US" xlink:label="lab_tef_ExpectedOwnershipOfRealEstateUnit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expected Ownership Of Real Estate Unit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ExpectedOwnershipOfRealEstateUnit" xlink:href="tef-20221231.xsd#tef_ExpectedOwnershipOfRealEstateUnit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ExpectedOwnershipOfRealEstateUnit" xlink:to="lab_tef_ExpectedOwnershipOfRealEstateUnit" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems_eba892a3-1d66-41e1-9863-8a1379b73e5b_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of financial assets [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of financial assets [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfFinancialAssetsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfFinancialAssetsLineItems"/>
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    <link:label id="lab_tef_OtherCurrentLiabilitiesAsOfAcquisitionDate_1d3f6e5e-af4c-4157-9954-63238d8496b6_negatedTerseLabel_en-US" xlink:label="lab_tef_OtherCurrentLiabilitiesAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current liabilities</link:label>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMinimumThresholdPercent_94d7a92a-aba0-4e77-a3d6-61bb0730b90f_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMinimumThresholdPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of carbon dioxide emission neutralization minimum threshold of compliance (as a percent)</link:label>
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    <link:label id="lab_ifrs-full_AuditorsRemunerationForAuditServices_5b9094dc-35a2-40b1-8d97-9111ddc60c60_terseLabel_en-US" xlink:label="lab_ifrs-full_AuditorsRemunerationForAuditServices" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Audit services</link:label>
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    <link:label id="lab_ifrs-full_FinancialAssetsMember_de2acdd0-79aa-4589-9388-a130f3e33439_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial assets, class [member]</link:label>
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    <link:label id="lab_tef_CycleofPerformanceSharePlanAxis_e128cc64-dd10-48f4-beb5-da075f87b2ee_terseLabel_en-US" xlink:label="lab_tef_CycleofPerformanceSharePlanAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cycle of Performance Share Plan [Axis]</link:label>
    <link:label id="lab_tef_CycleofPerformanceSharePlanAxis_label_en-US" xlink:label="lab_tef_CycleofPerformanceSharePlanAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cycle of Performance Share Plan [Axis]</link:label>
    <link:label id="lab_tef_CycleofPerformanceSharePlanAxis_documentation_en-US" xlink:label="lab_tef_CycleofPerformanceSharePlanAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cycle of Performance Share Plan [Axis]</link:label>
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    <link:label id="lab_tef_BorrowingsMaturinginmorethanTwelveMonths_2a9d9459-596c-4de7-b55b-97618fa19918_terseLabel_en-US" xlink:label="lab_tef_BorrowingsMaturinginmorethanTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings maturing in more than twelve months</link:label>
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    <link:label id="lab_tef_BorrowingsMaturinginmorethanTwelveMonths_documentation_en-US" xlink:label="lab_tef_BorrowingsMaturinginmorethanTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings Maturing in more than Twelve Months</link:label>
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    <link:label id="lab_tef_Expiringin2025Option5Member_e1bd85f3-f582-44ff-97a2-9034439fa509_terseLabel_en-US" xlink:label="lab_tef_Expiringin2025Option5Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 5</link:label>
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    <link:label id="lab_tef_LongTermCreditsToAssociatesAndJointVentures_b9afd691-ad02-48e8-9ed1-b5ac0ab63909_terseLabel_en-US" xlink:label="lab_tef_LongTermCreditsToAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term credits to associates and joint ventures</link:label>
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    <link:label id="lab_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_f947894a-dd30-42fc-8585-31ca341f858e_terseLabel_en-US" xlink:label="lab_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest cost</link:label>
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    <link:label id="lab_tef_TenancyRatioMacroSitesUnderOperation_1b04a0eb-a875-4658-85ca-59745d7d3614_terseLabel_en-US" xlink:label="lab_tef_TenancyRatioMacroSitesUnderOperation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenancy ratio, macro sites under operation</link:label>
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    <link:label id="lab_tef_NetAssets_4560a9c1-c584-497f-a0e4-205fbdf5876b_totalLabel_en-US" xlink:label="lab_tef_NetAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net assets</link:label>
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    <link:label id="lab_tef_NoncurrentCreditsMember_e6da3b2d-ddef-49de-8608-f65871b1ec73_verboseLabel_en-US" xlink:label="lab_tef_NoncurrentCreditsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other long-term credits</link:label>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_38837404-5a90-4999-8b07-e5b62b8d7f16_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair value option</link:label>
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    <link:label id="lab_tef_DeferredTaxLiabilitiesMember_documentation_en-US" xlink:label="lab_tef_DeferredTaxLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Liabilities [Member]</link:label>
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    <link:label id="lab_tef_TelefonicaMexicoMember_b27a456a-ea63-4bc1-9a7e-358238c8c08d_terseLabel_en-US" xlink:label="lab_tef_TelefonicaMexicoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica M&#233;xico</link:label>
    <link:label id="lab_tef_TelefonicaMexicoMember_label_en-US" xlink:label="lab_tef_TelefonicaMexicoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Mexico [Member]</link:label>
    <link:label id="lab_tef_TelefonicaMexicoMember_documentation_en-US" xlink:label="lab_tef_TelefonicaMexicoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Mexico [Member]</link:label>
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    <link:label id="lab_tef_PercentageOfSites_454dca72-c6fc-40d8-9dc3-25dfdcee44c3_terseLabel_en-US" xlink:label="lab_tef_PercentageOfSites" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of sites</link:label>
    <link:label id="lab_tef_PercentageOfSites_label_en-US" xlink:label="lab_tef_PercentageOfSites" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of Sites</link:label>
    <link:label id="lab_tef_PercentageOfSites_documentation_en-US" xlink:label="lab_tef_PercentageOfSites" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of Sites</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfSites" xlink:href="tef-20221231.xsd#tef_PercentageOfSites"/>
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    <link:label id="lab_tef_OiGroupMember_8e0106f3-a6a0-4b6b-b87b-de299d0f9047_terseLabel_en-US" xlink:label="lab_tef_OiGroupMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Oi Group</link:label>
    <link:label id="lab_tef_OiGroupMember_label_en-US" xlink:label="lab_tef_OiGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Oi Group [Member]</link:label>
    <link:label id="lab_tef_OiGroupMember_documentation_en-US" xlink:label="lab_tef_OiGroupMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Oi Group</link:label>
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    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember_caf88805-6e91-4e51-9ca1-be578744374a_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair value option</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember_label_en-US" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial assets at fair value through profit or loss, mandatorily measured at fair value, category [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:to="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureoffinanceleaseandoperatingleasebylesseeTableTextBlock_9fdc0989-b539-4b0a-ba93-38397e47ae1c_terseLabel_en-US" xlink:label="lab_tef_DisclosureoffinanceleaseandoperatingleasebylesseeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Estimated Payments on Operating Leases, Purchases, and Other Contractual Commitments</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESAPRIL20172Member_df3a5d3c-c390-4b1f-a7b4-ccb2ab71368e_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESAPRIL20172Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES APRIL 2017</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESAPRIL20172Member_documentation_en-US" xlink:label="lab_tef_TELEFEMISIONESAPRIL20172Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES APRIL 2017 2</link:label>
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    <link:label id="lab_tef_MM02PlcMember_6cf9d50c-444a-4be5-9b96-986bc2267fde_terseLabel_en-US" xlink:label="lab_tef_MM02PlcMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">MmO2 plc Holding company</link:label>
    <link:label id="lab_tef_MM02PlcMember_label_en-US" xlink:label="lab_tef_MM02PlcMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">MM02 plc [Member]</link:label>
    <link:label id="lab_tef_MM02PlcMember_documentation_en-US" xlink:label="lab_tef_MM02PlcMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">MM02 plc</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_MM02PlcMember" xlink:href="tef-20221231.xsd#tef_MM02PlcMember"/>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_Annex1Abstract" xlink:href="tef-20221231.xsd#tef_Annex1Abstract"/>
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    <link:label id="lab_tef_BETernaZagrebCroatiaMember_c3787674-82bf-466d-b841-388767e4ea9d_terseLabel_en-US" xlink:label="lab_tef_BETernaZagrebCroatiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Zagreb (Croatia)</link:label>
    <link:label id="lab_tef_BETernaZagrebCroatiaMember_label_en-US" xlink:label="lab_tef_BETernaZagrebCroatiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Zagreb (Croatia) [Member]</link:label>
    <link:label id="lab_tef_BETernaZagrebCroatiaMember_documentation_en-US" xlink:label="lab_tef_BETernaZagrebCroatiaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Zagreb (Croatia)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaZagrebCroatiaMember" xlink:href="tef-20221231.xsd#tef_BETernaZagrebCroatiaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BETernaZagrebCroatiaMember" xlink:to="lab_tef_BETernaZagrebCroatiaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RestructuringPlan1Domain_b6b9656a-f60d-4acf-8525-498dd0acd348_terseLabel_en-US" xlink:label="lab_tef_RestructuringPlan1Domain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restructuring Plan [Domain]</link:label>
    <link:label id="lab_tef_RestructuringPlan1Domain_label_en-US" xlink:label="lab_tef_RestructuringPlan1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restructuring Plan1 [Domain]</link:label>
    <link:label id="lab_tef_RestructuringPlan1Domain_documentation_en-US" xlink:label="lab_tef_RestructuringPlan1Domain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Domain] for Restructuring Plan [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RestructuringPlan1Domain" xlink:href="tef-20221231.xsd#tef_RestructuringPlan1Domain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RestructuringPlan1Domain" xlink:to="lab_tef_RestructuringPlan1Domain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions_f10505ca-9b63-49f7-b64a-732a9540ad47_terseLabel_en-US" xlink:label="lab_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guarantees</link:label>
    <link:label id="lab_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions_label_en-US" xlink:label="lab_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provision of guarantees or collateral by entity, related party transactions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" xlink:to="lab_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate_ba62726a-d200-47a3-b068-c6c725d471c5_terseLabel_en-US" xlink:label="lab_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EC maximum fixed termination rate</link:label>
    <link:label id="lab_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate_label_en-US" xlink:label="lab_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">European Commission Delegated Act, Maximum Fixed Termination Rate</link:label>
    <link:label id="lab_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate_documentation_en-US" xlink:label="lab_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">European Commission Delegated Act, Maximum Fixed Termination Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate" xlink:href="tef-20221231.xsd#tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate" xlink:to="lab_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ClaudiaSenderRamirezMember_18de4163-7a8c-401a-9019-8ed60aedd2bb_terseLabel_en-US" xlink:label="lab_tef_ClaudiaSenderRamirezMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ms. Claudia Sender Ram&#237;rez</link:label>
    <link:label id="lab_tef_ClaudiaSenderRamirezMember_label_en-US" xlink:label="lab_tef_ClaudiaSenderRamirezMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Claudia Sender Ramirez [Member]</link:label>
    <link:label id="lab_tef_ClaudiaSenderRamirezMember_documentation_en-US" xlink:label="lab_tef_ClaudiaSenderRamirezMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Claudia Sender Ramirez [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ClaudiaSenderRamirezMember" xlink:href="tef-20221231.xsd#tef_ClaudiaSenderRamirezMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ClaudiaSenderRamirezMember" xlink:to="lab_tef_ClaudiaSenderRamirezMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_NoTradingSymbolFlag_17365e47-7318-419a-9dac-f59c2a7961ac_terseLabel_en-US" xlink:label="lab_dei_NoTradingSymbolFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">No Trading Symbol Flag</link:label>
    <link:label id="lab_dei_NoTradingSymbolFlag_label_en-US" xlink:label="lab_dei_NoTradingSymbolFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">No Trading Symbol Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_NoTradingSymbolFlag" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_NoTradingSymbolFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_NoTradingSymbolFlag" xlink:to="lab_dei_NoTradingSymbolFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Plancurtailmentnetdefinedbenefitliabilityasset_47e7ecc1-cfdf-4c50-a85c-bd65181e2dce_terseLabel_en-US" xlink:label="lab_tef_Plancurtailmentnetdefinedbenefitliabilityasset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Plan curtailments</link:label>
    <link:label id="lab_tef_Plancurtailmentnetdefinedbenefitliabilityasset_label_en-US" xlink:label="lab_tef_Plancurtailmentnetdefinedbenefitliabilityasset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Plan curtailment, net defined benefit liability (asset)</link:label>
    <link:label id="lab_tef_Plancurtailmentnetdefinedbenefitliabilityasset_documentation_en-US" xlink:label="lab_tef_Plancurtailmentnetdefinedbenefitliabilityasset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Plan curtailment, net defined benefit liability (asset)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Plancurtailmentnetdefinedbenefitliabilityasset" xlink:href="tef-20221231.xsd#tef_Plancurtailmentnetdefinedbenefitliabilityasset"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Plancurtailmentnetdefinedbenefitliabilityasset" xlink:to="lab_tef_Plancurtailmentnetdefinedbenefitliabilityasset" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice_33333aad-cb80-4c4b-9ede-05624c580278_terseLabel_en-US" xlink:label="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration to be transferred, purchase of assets, base purchase price</link:label>
    <link:label id="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice_label_en-US" xlink:label="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration to be transferred, purchase of assets, base purchase price</link:label>
    <link:label id="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice_documentation_en-US" xlink:label="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration to be transferred, purchase of assets, base purchase price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice" xlink:href="tef-20221231.xsd#tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice" xlink:to="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsBasePurchasePrice" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_9430d63d-7929-4dbc-8df4-037a6a0d58a0_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisitions of non-controlling interests and exclusion of companies</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through acquisition of subsidiary, equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NetForeignExchangeGain_61da7395-4b19-4002-918d-fcbb7bcd320a_terseLabel_en-US" xlink:label="lab_ifrs-full_NetForeignExchangeGain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Exchange gains</link:label>
    <link:label id="lab_ifrs-full_NetForeignExchangeGain_label_en-US" xlink:label="lab_ifrs-full_NetForeignExchangeGain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net foreign exchange gain</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NetForeignExchangeGain" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NetForeignExchangeGain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NetForeignExchangeGain" xlink:to="lab_ifrs-full_NetForeignExchangeGain" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AnnualVarianceInClosingExchangeRate_168a322c-acff-4e4d-b014-9e60dd0357eb_terseLabel_en-US" xlink:label="lab_tef_AnnualVarianceInClosingExchangeRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variation of closing exchange rate (in percentage)</link:label>
    <link:label id="lab_tef_AnnualVarianceInClosingExchangeRate_label_en-US" xlink:label="lab_tef_AnnualVarianceInClosingExchangeRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Annual Variance In Closing Exchange Rate</link:label>
    <link:label id="lab_tef_AnnualVarianceInClosingExchangeRate_documentation_en-US" xlink:label="lab_tef_AnnualVarianceInClosingExchangeRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Annual Variance In Closing Exchange Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AnnualVarianceInClosingExchangeRate" xlink:href="tef-20221231.xsd#tef_AnnualVarianceInClosingExchangeRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AnnualVarianceInClosingExchangeRate" xlink:to="lab_tef_AnnualVarianceInClosingExchangeRate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief_57d96aed-9a34-46ac-b3cc-b4a340b23f8d_terseLabel_en-US" xlink:label="lab_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">(Capitalization)/reversal of tax deduction and tax relief</link:label>
    <link:label id="lab_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief_label_en-US" xlink:label="lab_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal (Capitalization) Of Tax Deduction And Tax Relief</link:label>
    <link:label id="lab_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief_documentation_en-US" xlink:label="lab_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal (Capitalization) Of Tax Deduction And Tax Relief</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief" xlink:href="tef-20221231.xsd#tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief" xlink:to="lab_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_e1133dca-7cf1-4e9e-87e1-0b5e4331b0c9_terseLabel_en-US" xlink:label="lab_ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net defined benefit liability (asset) [axis]</link:label>
    <link:label id="lab_ifrs-full_NetDefinedBenefitLiabilityAssetAxis_label_en-US" xlink:label="lab_ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net defined benefit liability (asset) [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:to="lab_ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentLeaseLiabilities_da325be5-5a74-49a6-b8fa-493b7efa8d6a_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current lease liabilities</link:label>
    <link:label id="lab_ifrs-full_NoncurrentLeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentLeaseLiabilities" xlink:to="lab_ifrs-full_NoncurrentLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother_999da1b4-d37c-43f7-8417-bb5bb349c103_terseLabel_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable lease payments not included in the measurement of lease liabilities</link:label>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother_label_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense related to leases included in operating results as external services, other</link:label>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother_documentation_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense related to leases included in operating results as external services, other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother" xlink:href="tef-20221231.xsd#tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother" xlink:to="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate_14a3c4da-6244-44bd-80ba-1234166da3dc_terseLabel_en-US" xlink:label="lab_tef_EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Estimated effect after currency value update</link:label>
    <link:label id="lab_tef_EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate_label_en-US" xlink:label="lab_tef_EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Estimated Financial Effect Of Contingent Liabilities, After Currency Value Update</link:label>
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    <link:label id="lab_tef_TelefonicaCybersecurityCloudTechDeutschlandGmbHMember_1cd2ee83-c093-4015-ad7e-a7e1d8b9f864_terseLabel_en-US" xlink:label="lab_tef_TelefonicaCybersecurityCloudTechDeutschlandGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Cybersecurity &amp; Cloud Tech Deutschland GmbH</link:label>
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    <link:label id="lab_tef_PerformanceSharePlan20182022Member_320918cb-7d4f-43ee-8e44-72b99ead1f8b_terseLabel_en-US" xlink:label="lab_tef_PerformanceSharePlan20182022Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Performance Share Plan 2018-2022</link:label>
    <link:label id="lab_tef_PerformanceSharePlan20182022Member_label_en-US" xlink:label="lab_tef_PerformanceSharePlan20182022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Performance Share Plan 2018-2022 [Member]</link:label>
    <link:label id="lab_tef_PerformanceSharePlan20182022Member_documentation_en-US" xlink:label="lab_tef_PerformanceSharePlan20182022Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Performance and Investment Plan [Member]</link:label>
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    <link:label id="lab_tef_RenewableEnergySolarProductionNumberOfModels_b2e4a256-5f30-4ca6-b202-1c7158e4ca47_terseLabel_en-US" xlink:label="lab_tef_RenewableEnergySolarProductionNumberOfModels" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of models</link:label>
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    <link:label id="lab_tef_TelefonicaMovilesPanamaMember_documentation_en-US" xlink:label="lab_tef_TelefonicaMovilesPanamaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Moviles Panama [Member]</link:label>
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    <link:label id="lab_tef_CapitalGainLoss_label_en-US" xlink:label="lab_tef_CapitalGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Gain (Loss)</link:label>
    <link:label id="lab_tef_CapitalGainLoss_documentation_en-US" xlink:label="lab_tef_CapitalGainLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Gain (Loss)</link:label>
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    <link:label id="lab_tef_IndefiniteOption9Member_c4692eac-be05-4174-9f0f-10b03045c02e_terseLabel_en-US" xlink:label="lab_tef_IndefiniteOption9Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 9</link:label>
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    <link:label id="lab_tef_IndefiniteOption9Member_documentation_en-US" xlink:label="lab_tef_IndefiniteOption9Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 9</link:label>
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    <link:label id="lab_tef_SyndicatedLoanOfColombiaTelecomunicacionesSAESPMember_399023db-dd9d-45a6-b889-3953c681078a_terseLabel_en-US" xlink:label="lab_tef_SyndicatedLoanOfColombiaTelecomunicacionesSAESPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, ESP BIC</link:label>
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    <link:label id="lab_tef_TelxiusTorresPeruS.A.C.Member_00b27ed8-e599-46f0-967c-81483adb4355_terseLabel_en-US" xlink:label="lab_tef_TelxiusTorresPeruS.A.C.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Per&#250; S.A.C.</link:label>
    <link:label id="lab_tef_TelxiusTorresPeruS.A.C.Member_label_en-US" xlink:label="lab_tef_TelxiusTorresPeruS.A.C.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Peru S.A.C. [Member]</link:label>
    <link:label id="lab_tef_TelxiusTorresPeruS.A.C.Member_documentation_en-US" xlink:label="lab_tef_TelxiusTorresPeruS.A.C.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Peru S.A.C. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusTorresPeruS.A.C.Member" xlink:href="tef-20221231.xsd#tef_TelxiusTorresPeruS.A.C.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusTorresPeruS.A.C.Member" xlink:to="lab_tef_TelxiusTorresPeruS.A.C.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ValuationAssumptionRevenueGrowthRatePercentage_bce00e9e-6a16-4513-a747-0eaa9a472730_terseLabel_en-US" xlink:label="lab_tef_ValuationAssumptionRevenueGrowthRatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation assumption, revenue growth rate (in percentage)</link:label>
    <link:label id="lab_tef_ValuationAssumptionRevenueGrowthRatePercentage_label_en-US" xlink:label="lab_tef_ValuationAssumptionRevenueGrowthRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Assumption, Revenue Growth Rate, Percentage</link:label>
    <link:label id="lab_tef_ValuationAssumptionRevenueGrowthRatePercentage_documentation_en-US" xlink:label="lab_tef_ValuationAssumptionRevenueGrowthRatePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Assumption, Revenue Growth Rate, Percentage</link:label>
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    <link:label id="lab_tef_FactoringOperationsRelatedPartyTransactions_documentation_en-US" xlink:label="lab_tef_FactoringOperationsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Factoring Operations, Related Party Transactions</link:label>
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    <link:label id="lab_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit_0ed6c206-e8ad-49b1-ae95-2a5957707d80_terseLabel_en-US" xlink:label="lab_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collateral liabilities deposit</link:label>
    <link:label id="lab_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit_label_en-US" xlink:label="lab_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments (Collections) Related To Collateral Liabilities Deposit</link:label>
    <link:label id="lab_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit_documentation_en-US" xlink:label="lab_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments (Collections) Related To Collateral Liabilities Deposit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" xlink:href="tef-20221231.xsd#tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" xlink:to="lab_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance_17d28271-1921-40f9-a822-e9e27c2326ba_terseLabel_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Delivery percent (if within third quartile of performance)</link:label>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance_label_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Performance Within Third Quartile of Performance</link:label>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance_documentation_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Performance Within Third Quartile of Performance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance" xlink:href="tef-20221231.xsd#tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance" xlink:to="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment_f18a0da1-af03-4173-bd75-a1cc061d5199_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gain on disposal of property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains on disposals of property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_MXV_34e52116-bc7a-4da0-b22b-6b7dff043ba5_terseLabel_en-US" xlink:label="lab_currency_MXV" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UDI</link:label>
    <link:label id="lab_currency_MXV_label_en-US" xlink:label="lab_currency_MXV" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mexican Unidad de Inversion (UDI) (funds code)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_MXV" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_MXV"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_MXV" xlink:to="lab_currency_MXV" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DepositsMember_5b8de0bf-d272-4690-be44-0751e46b3a8b_terseLabel_en-US" xlink:label="lab_tef_DepositsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term financial instruments of Pegaso PCS (Note 12)</link:label>
    <link:label id="lab_tef_DepositsMember_label_en-US" xlink:label="lab_tef_DepositsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deposits [Member]</link:label>
    <link:label id="lab_tef_DepositsMember_documentation_en-US" xlink:label="lab_tef_DepositsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deposits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DepositsMember" xlink:href="tef-20221231.xsd#tef_DepositsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DepositsMember" xlink:to="lab_tef_DepositsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Translationdifferencesandhyperinflationrightofuseassets_d599972e-6d10-4330-8d04-be53984b5053_terseLabel_en-US" xlink:label="lab_tef_Translationdifferencesandhyperinflationrightofuseassets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences and hyperinflation</link:label>
    <link:label id="lab_tef_Translationdifferencesandhyperinflationrightofuseassets_label_en-US" xlink:label="lab_tef_Translationdifferencesandhyperinflationrightofuseassets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences and hyperinflation, right-of-use assets</link:label>
    <link:label id="lab_tef_Translationdifferencesandhyperinflationrightofuseassets_documentation_en-US" xlink:label="lab_tef_Translationdifferencesandhyperinflationrightofuseassets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences and hyperinflation, right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Translationdifferencesandhyperinflationrightofuseassets" xlink:href="tef-20221231.xsd#tef_Translationdifferencesandhyperinflationrightofuseassets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Translationdifferencesandhyperinflationrightofuseassets" xlink:to="lab_tef_Translationdifferencesandhyperinflationrightofuseassets" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_MXN_eb13066e-8fb8-46bd-9537-5c07caf37a4a_terseLabel_en-US" xlink:label="lab_currency_MXN" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mexican peso</link:label>
    <link:label id="lab_currency_MXN_label_en-US" xlink:label="lab_currency_MXN" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mexico, Pesos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_MXN" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_MXN"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_MXN" xlink:to="lab_currency_MXN" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_UGGHoldCoGmbHCoKGMember_c4a7f497-9787-4c93-810d-404793279d1f_terseLabel_en-US" xlink:label="lab_tef_UGGHoldCoGmbHCoKGMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UGG HoldCo GmbH&amp; Co KG</link:label>
    <link:label id="lab_tef_UGGHoldCoGmbHCoKGMember_label_en-US" xlink:label="lab_tef_UGGHoldCoGmbHCoKGMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UGG HoldCo GmbH&amp; Co KG [Member]</link:label>
    <link:label id="lab_tef_UGGHoldCoGmbHCoKGMember_documentation_en-US" xlink:label="lab_tef_UGGHoldCoGmbHCoKGMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UGG HoldCo GmbH&amp; Co KG</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_UGGHoldCoGmbHCoKGMember" xlink:href="tef-20221231.xsd#tef_UGGHoldCoGmbHCoKGMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_UGGHoldCoGmbHCoKGMember" xlink:to="lab_tef_UGGHoldCoGmbHCoKGMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NetDefinedBenefitLiabilityAssetRollForward_e66a252c-1567-4037-8a27-7fca0e19ffb2_terseLabel_en-US" xlink:label="lab_tef_NetDefinedBenefitLiabilityAssetRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Defined Benefit Liability Asset [Roll Forward]</link:label>
    <link:label id="lab_tef_NetDefinedBenefitLiabilityAssetRollForward_label_en-US" xlink:label="lab_tef_NetDefinedBenefitLiabilityAssetRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Defined Benefit Liability Asset [Roll Forward]</link:label>
    <link:label id="lab_tef_NetDefinedBenefitLiabilityAssetRollForward_documentation_en-US" xlink:label="lab_tef_NetDefinedBenefitLiabilityAssetRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Defined Benefit Liability Asset [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NetDefinedBenefitLiabilityAssetRollForward" xlink:href="tef-20221231.xsd#tef_NetDefinedBenefitLiabilityAssetRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NetDefinedBenefitLiabilityAssetRollForward" xlink:to="lab_tef_NetDefinedBenefitLiabilityAssetRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion_1a92b62b-4097-4eb9-b792-42073e617aa4_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences, hyperinflation adjustments and accretion</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion_label_en-US" xlink:label="lab_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) In Provisions For Termination Plans Due To Translation Differences And Accretion</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) In Provisions For Termination Plans Due To Translation Differences And Accretion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" xlink:to="lab_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PeriodInWhichRealEstateUnitsWillBeDeployed_0c6c0200-84c7-4e41-af6b-c7fcf88b2be8_terseLabel_en-US" xlink:label="lab_tef_PeriodInWhichRealEstateUnitsWillBeDeployed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period in which real estate units will be deployed</link:label>
    <link:label id="lab_tef_PeriodInWhichRealEstateUnitsWillBeDeployed_label_en-US" xlink:label="lab_tef_PeriodInWhichRealEstateUnitsWillBeDeployed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period In Which Real Estate Units Will Be Deployed</link:label>
    <link:label id="lab_tef_PeriodInWhichRealEstateUnitsWillBeDeployed_documentation_en-US" xlink:label="lab_tef_PeriodInWhichRealEstateUnitsWillBeDeployed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period In Which Real Estate Units Will Be Deployed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PeriodInWhichRealEstateUnitsWillBeDeployed" xlink:href="tef-20221231.xsd#tef_PeriodInWhichRealEstateUnitsWillBeDeployed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PeriodInWhichRealEstateUnitsWillBeDeployed" xlink:to="lab_tef_PeriodInWhichRealEstateUnitsWillBeDeployed" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SeniorSustainableBondOfTelefonicaEmisionesMember_1eadc442-2f06-4c2d-aa88-61ef69b4f419_terseLabel_en-US" xlink:label="lab_tef_SeniorSustainableBondOfTelefonicaEmisionesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Sustainable Bond of Telefonica Emisiones</link:label>
    <link:label id="lab_tef_SeniorSustainableBondOfTelefonicaEmisionesMember_label_en-US" xlink:label="lab_tef_SeniorSustainableBondOfTelefonicaEmisionesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Sustainable Bond of Telefonica Emisiones [Member]</link:label>
    <link:label id="lab_tef_SeniorSustainableBondOfTelefonicaEmisionesMember_documentation_en-US" xlink:label="lab_tef_SeniorSustainableBondOfTelefonicaEmisionesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Sustainable Bond of Telefonica Emisiones</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SeniorSustainableBondOfTelefonicaEmisionesMember" xlink:href="tef-20221231.xsd#tef_SeniorSustainableBondOfTelefonicaEmisionesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SeniorSustainableBondOfTelefonicaEmisionesMember" xlink:to="lab_tef_SeniorSustainableBondOfTelefonicaEmisionesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock_2d7e897a-b7e5-401c-8234-2892385dbac7_terseLabel_en-US" xlink:label="lab_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Inventories</link:label>
    <link:label id="lab_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock_label_en-US" xlink:label="lab_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about inventory [Table Text Block]</link:label>
    <link:label id="lab_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock_documentation_en-US" xlink:label="lab_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about inventory [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock" xlink:to="lab_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_9a7134f3-cde5-4713-ae6b-899f68b84dc4_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables_55cb5c1e-48c2-4018-9698-df20e2afc3f8_terseLabel_en-US" xlink:label="lab_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gross contractual amounts receivable for acquired receivables</link:label>
    <link:label id="lab_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables_label_en-US" xlink:label="lab_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gross contractual amounts receivable for acquired receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables" xlink:to="lab_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod_e0ba4c7e-ab99-41a1-a1c5-a3d1baa44e51_terseLabel_en-US" xlink:label="lab_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Estimated useful life</link:label>
    <link:label id="lab_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod_label_en-US" xlink:label="lab_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Useful Lives Or Depreciation Rates, Property, Plant And Equipment, Period</link:label>
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    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_0243a4a8-f36e-49b9-8805-66a037d51daa_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) in net defined benefit liability (asset) resulting from changes in foreign exchange rates, net defined benefit liability (asset)</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_019acbbd-1c17-414c-9da9-f864ec1ccc44_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity</link:label>
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    <link:label id="lab_tef_Expiringin2018Member_documentation_en-US" xlink:label="lab_tef_Expiringin2018Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2018 [Member]</link:label>
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    <link:label id="lab_ifrs-full_CounterpartiesMember_a5d77018-2466-4142-81e9-89c42bbf2fbe_terseLabel_en-US" xlink:label="lab_ifrs-full_CounterpartiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparties</link:label>
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    <link:label id="lab_tef_Expiringin2041Member_1333f27e-3880-4971-af10-4c9c762bb94f_terseLabel_en-US" xlink:label="lab_tef_Expiringin2041Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2041</link:label>
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    <link:label id="lab_tef_Expiringin2041Member_documentation_en-US" xlink:label="lab_tef_Expiringin2041Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2041 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2041Member" xlink:href="tef-20221231.xsd#tef_Expiringin2041Member"/>
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    <link:label id="lab_tef_NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs_eb64360a-1ddc-4ba2-a860-a4afbc50747a_terseLabel_en-US" xlink:label="lab_tef_NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of selected teams against top three spanish football clubs</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs" xlink:href="tef-20221231.xsd#tef_NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs"/>
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    <link:label id="lab_tef_SustainableFinancingMember_5b119916-36e6-4b95-b6af-826c50b3cd6d_terseLabel_en-US" xlink:label="lab_tef_SustainableFinancingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainable financing</link:label>
    <link:label id="lab_tef_SustainableFinancingMember_label_en-US" xlink:label="lab_tef_SustainableFinancingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainable Financing [Member]</link:label>
    <link:label id="lab_tef_SustainableFinancingMember_documentation_en-US" xlink:label="lab_tef_SustainableFinancingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainable Financing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SustainableFinancingMember" xlink:href="tef-20221231.xsd#tef_SustainableFinancingMember"/>
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    <link:label id="lab_tef_FederalTaxAuthorityMember_af35a601-e2c3-4593-87ba-a7e54b33e815_terseLabel_en-US" xlink:label="lab_tef_FederalTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal taxes</link:label>
    <link:label id="lab_tef_FederalTaxAuthorityMember_label_en-US" xlink:label="lab_tef_FederalTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal Tax Authority [Member]</link:label>
    <link:label id="lab_tef_FederalTaxAuthorityMember_documentation_en-US" xlink:label="lab_tef_FederalTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal Tax Authority [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FederalTaxAuthorityMember" xlink:href="tef-20221231.xsd#tef_FederalTaxAuthorityMember"/>
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    <link:label id="lab_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_1ae295e0-5bd5-489c-8842-7180bb9dc5f8_negatedTerseLabel_en-US" xlink:label="lab_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease liabilities</link:label>
    <link:label id="lab_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease Liabilities Recognised As Of Acquisition Date</link:label>
    <link:label id="lab_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate_documentation_en-US" xlink:label="lab_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease Liabilities Recognised As Of Acquisition Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:href="tef-20221231.xsd#tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="lab_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AuditorsRenumerationLineItems_616262c3-23c4-4b16-9048-2582a387993b_terseLabel_en-US" xlink:label="lab_tef_AuditorsRenumerationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditors Remuneration [Line Items]</link:label>
    <link:label id="lab_tef_AuditorsRenumerationLineItems_label_en-US" xlink:label="lab_tef_AuditorsRenumerationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditors Renumeration [Line Items]</link:label>
    <link:label id="lab_tef_AuditorsRenumerationLineItems_documentation_en-US" xlink:label="lab_tef_AuditorsRenumerationLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Line Items] for Auditors Renumeration [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AuditorsRenumerationLineItems" xlink:href="tef-20221231.xsd#tef_AuditorsRenumerationLineItems"/>
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    <link:label id="lab_tef_IndefiniteOption10Member_ef5e185b-fe99-400f-85a2-32ba0daf5786_terseLabel_en-US" xlink:label="lab_tef_IndefiniteOption10Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 10</link:label>
    <link:label id="lab_tef_IndefiniteOption10Member_label_en-US" xlink:label="lab_tef_IndefiniteOption10Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 10 [Member]</link:label>
    <link:label id="lab_tef_IndefiniteOption10Member_documentation_en-US" xlink:label="lab_tef_IndefiniteOption10Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 10</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IndefiniteOption10Member" xlink:href="tef-20221231.xsd#tef_IndefiniteOption10Member"/>
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    <link:label id="lab_tef_SecondSustainableHybridBondMember_e4daa954-6901-49c9-95c8-687ccacf3ceb_terseLabel_en-US" xlink:label="lab_tef_SecondSustainableHybridBondMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Sustainable Hybrid Bond</link:label>
    <link:label id="lab_tef_SecondSustainableHybridBondMember_label_en-US" xlink:label="lab_tef_SecondSustainableHybridBondMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Sustainable Hybrid Bond [Member]</link:label>
    <link:label id="lab_tef_SecondSustainableHybridBondMember_documentation_en-US" xlink:label="lab_tef_SecondSustainableHybridBondMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Sustainable Hybrid Bond</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SecondSustainableHybridBondMember" xlink:href="tef-20221231.xsd#tef_SecondSustainableHybridBondMember"/>
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    <link:label id="lab_tef_TEFInfraGermanyMember_83fe731a-02bb-4b29-b2a6-bbf4699200ed_terseLabel_en-US" xlink:label="lab_tef_TEFInfraGermanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEF Infra Germany</link:label>
    <link:label id="lab_tef_TEFInfraGermanyMember_label_en-US" xlink:label="lab_tef_TEFInfraGermanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEF Infra Germany [Member]</link:label>
    <link:label id="lab_tef_TEFInfraGermanyMember_documentation_en-US" xlink:label="lab_tef_TEFInfraGermanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEF Infra Germany</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TEFInfraGermanyMember" xlink:href="tef-20221231.xsd#tef_TEFInfraGermanyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TEFInfraGermanyMember" xlink:to="lab_tef_TEFInfraGermanyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_929d507b-7714-4629-8515-413160958ac2_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of ownership interest (as a percent)</link:label>
    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary_label_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
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    <link:label id="lab_tef_CollateralGuaranteesOnDerivativesMember_fd0486ae-485b-4ead-afa2-d0a72bbb9310_terseLabel_en-US" xlink:label="lab_tef_CollateralGuaranteesOnDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collateral guarantees on derivatives</link:label>
    <link:label id="lab_tef_CollateralGuaranteesOnDerivativesMember_label_en-US" xlink:label="lab_tef_CollateralGuaranteesOnDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collateral Guarantees On Derivatives [Member]</link:label>
    <link:label id="lab_tef_CollateralGuaranteesOnDerivativesMember_documentation_en-US" xlink:label="lab_tef_CollateralGuaranteesOnDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collateral guarantees on derivatives [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CollateralGuaranteesOnDerivativesMember" xlink:href="tef-20221231.xsd#tef_CollateralGuaranteesOnDerivativesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CollateralGuaranteesOnDerivativesMember" xlink:to="lab_tef_CollateralGuaranteesOnDerivativesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HedgesinEquity_e8b68db7-8b09-49a3-bf32-7656894a7d57_periodStartLabel_en-US" xlink:label="lab_tef_HedgesinEquity" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance of hedges in equity at beginning of period</link:label>
    <link:label id="lab_tef_HedgesinEquity_3fe384b9-b001-4742-a704-4a3051a502b2_periodEndLabel_en-US" xlink:label="lab_tef_HedgesinEquity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance of hedges in equity at end of period</link:label>
    <link:label id="lab_tef_HedgesinEquity_label_en-US" xlink:label="lab_tef_HedgesinEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges in Equity</link:label>
    <link:label id="lab_tef_HedgesinEquity_documentation_en-US" xlink:label="lab_tef_HedgesinEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges in Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_HedgesinEquity" xlink:href="tef-20221231.xsd#tef_HedgesinEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HedgesinEquity" xlink:to="lab_tef_HedgesinEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisposalsofFinancialLiabilities_7621d8a5-04bc-4976-bf51-094643832d65_negatedTerseLabel_en-US" xlink:label="lab_tef_DisposalsofFinancialLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash paid</link:label>
    <link:label id="lab_tef_DisposalsofFinancialLiabilities_label_en-US" xlink:label="lab_tef_DisposalsofFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals of Financial Liabilities</link:label>
    <link:label id="lab_tef_DisposalsofFinancialLiabilities_documentation_en-US" xlink:label="lab_tef_DisposalsofFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals of Financial Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisposalsofFinancialLiabilities" xlink:href="tef-20221231.xsd#tef_DisposalsofFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisposalsofFinancialLiabilities" xlink:to="lab_tef_DisposalsofFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfDataCentersSold_59daae3f-d459-478c-abe4-d6ffaadf5ba1_terseLabel_en-US" xlink:label="lab_tef_NumberOfDataCentersSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of data centers sold</link:label>
    <link:label id="lab_tef_NumberOfDataCentersSold_label_en-US" xlink:label="lab_tef_NumberOfDataCentersSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Data Centers Sold</link:label>
    <link:label id="lab_tef_NumberOfDataCentersSold_documentation_en-US" xlink:label="lab_tef_NumberOfDataCentersSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Data Centers Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfDataCentersSold" xlink:href="tef-20221231.xsd#tef_NumberOfDataCentersSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfDataCentersSold" xlink:to="lab_tef_NumberOfDataCentersSold" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TISHispanoamericaSLMember_8d40d96c-5c75-45ed-81fc-e32ac6c2c7c7_terseLabel_en-US" xlink:label="lab_tef_TISHispanoamericaSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TIS Hispanoamerica, S.L.</link:label>
    <link:label id="lab_tef_TISHispanoamericaSLMember_label_en-US" xlink:label="lab_tef_TISHispanoamericaSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TIS Hispanoamerica, S.L. [Member]</link:label>
    <link:label id="lab_tef_TISHispanoamericaSLMember_documentation_en-US" xlink:label="lab_tef_TISHispanoamericaSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TIS Hispanoamerica, S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TISHispanoamericaSLMember" xlink:href="tef-20221231.xsd#tef_TISHispanoamericaSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TISHispanoamericaSLMember" xlink:to="lab_tef_TISHispanoamericaSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ShortTermCreditMaturity_a62ba089-e549-4b48-a2e4-22acff7cdfe7_terseLabel_en-US" xlink:label="lab_tef_ShortTermCreditMaturity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maturity of short-term credits</link:label>
    <link:label id="lab_tef_ShortTermCreditMaturity_label_en-US" xlink:label="lab_tef_ShortTermCreditMaturity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-Term Credit, Maturity</link:label>
    <link:label id="lab_tef_ShortTermCreditMaturity_documentation_en-US" xlink:label="lab_tef_ShortTermCreditMaturity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-Term Credit, Maturity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ShortTermCreditMaturity" xlink:href="tef-20221231.xsd#tef_ShortTermCreditMaturity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ShortTermCreditMaturity" xlink:to="lab_tef_ShortTermCreditMaturity" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CaixabankMember_6c64fa59-ff1b-41f9-87d3-f0cc12d8c015_terseLabel_en-US" xlink:label="lab_tef_CaixabankMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CaixaBank</link:label>
    <link:label id="lab_tef_CaixabankMember_label_en-US" xlink:label="lab_tef_CaixabankMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Caixabank [Member]</link:label>
    <link:label id="lab_tef_CaixabankMember_documentation_en-US" xlink:label="lab_tef_CaixabankMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Caja de Ahorros y Pensiones de Barcelona [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CaixabankMember" xlink:href="tef-20221231.xsd#tef_CaixabankMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CaixabankMember" xlink:to="lab_tef_CaixabankMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CreditFacilitiesMember_11155a2e-a83e-4a4b-8a53-25fe7c453f87_terseLabel_en-US" xlink:label="lab_tef_CreditFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Facilities</link:label>
    <link:label id="lab_tef_CreditFacilitiesMember_label_en-US" xlink:label="lab_tef_CreditFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Facilities [Member]</link:label>
    <link:label id="lab_tef_CreditFacilitiesMember_documentation_en-US" xlink:label="lab_tef_CreditFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Facilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CreditFacilitiesMember" xlink:href="tef-20221231.xsd#tef_CreditFacilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CreditFacilitiesMember" xlink:to="lab_tef_CreditFacilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods_2cf28286-6218-4bac-8d3e-0ad24805e8c6_terseLabel_en-US" xlink:label="lab_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master services agreement, number of additional renewal periods</link:label>
    <link:label id="lab_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods_label_en-US" xlink:label="lab_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Number Of Additional Renewal Periods</link:label>
    <link:label id="lab_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods_documentation_en-US" xlink:label="lab_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Number Of Additional Renewal Periods</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods" xlink:href="tef-20221231.xsd#tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods" xlink:to="lab_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentMember_cb564272-b2c2-4b90-90dc-8a02650907a5_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment [member]</link:label>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentMember_label_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PropertyPlantAndEquipmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="lab_ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic_6630cc27-d872-4da8-81bd-73d3fe208377_terseLabel_en-US" xlink:label="lab_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of additional possible premises covered by fiber optic</link:label>
    <link:label id="lab_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic_label_en-US" xlink:label="lab_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Additional Possible Premises Covered By Fiber Optic</link:label>
    <link:label id="lab_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic_documentation_en-US" xlink:label="lab_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Additional Possible Premises Covered By Fiber Optic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic" xlink:href="tef-20221231.xsd#tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic" xlink:to="lab_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction_d4996257-e056-4e26-ac88-56bf480e66dd_terseLabel_en-US" xlink:label="lab_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finance income</link:label>
    <link:label id="lab_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction_label_en-US" xlink:label="lab_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Under Finance Agreements, Related Party Transaction</link:label>
    <link:label id="lab_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction_documentation_en-US" xlink:label="lab_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Under Finance Agreements, Related Party Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction" xlink:href="tef-20221231.xsd#tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction" xlink:to="lab_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PutCurrencies2Member_50cc3b8f-04e6-43fb-860e-1a5b286464ec_terseLabel_en-US" xlink:label="lab_tef_PutCurrencies2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Put Currencies (EURGBP, GBPEUR)</link:label>
    <link:label id="lab_tef_PutCurrencies2Member_label_en-US" xlink:label="lab_tef_PutCurrencies2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Put Currencies,2 [Member]</link:label>
    <link:label id="lab_tef_PutCurrencies2Member_documentation_en-US" xlink:label="lab_tef_PutCurrencies2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Put Currencies,2</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PutCurrencies2Member" xlink:href="tef-20221231.xsd#tef_PutCurrencies2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PutCurrencies2Member" xlink:to="lab_tef_PutCurrencies2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProvisionsForOtherEmployeeBenefits_e9bdc4ea-6301-4fe6-a5a3-8c5c0a66a547_totalLabel_en-US" xlink:label="lab_tef_ProvisionsForOtherEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other benefits</link:label>
    <link:label id="lab_tef_ProvisionsForOtherEmployeeBenefits_label_en-US" xlink:label="lab_tef_ProvisionsForOtherEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provisions For Other Employee Benefits</link:label>
    <link:label id="lab_tef_ProvisionsForOtherEmployeeBenefits_documentation_en-US" xlink:label="lab_tef_ProvisionsForOtherEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provisions For Other Employee Benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProvisionsForOtherEmployeeBenefits" xlink:href="tef-20221231.xsd#tef_ProvisionsForOtherEmployeeBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProvisionsForOtherEmployeeBenefits" xlink:to="lab_tef_ProvisionsForOtherEmployeeBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageOfPopulationCoveredIn5GNetwork_8a7a024b-b9dd-42fd-ad42-21e1c5d3ecf9_terseLabel_en-US" xlink:label="lab_tef_PercentageOfPopulationCoveredIn5GNetwork" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Population coverage by 5G networks (in percentage)</link:label>
    <link:label id="lab_tef_PercentageOfPopulationCoveredIn5GNetwork_label_en-US" xlink:label="lab_tef_PercentageOfPopulationCoveredIn5GNetwork" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Population Covered In 5G Network</link:label>
    <link:label id="lab_tef_PercentageOfPopulationCoveredIn5GNetwork_documentation_en-US" xlink:label="lab_tef_PercentageOfPopulationCoveredIn5GNetwork" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Population Covered In 5G Network</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfPopulationCoveredIn5GNetwork" xlink:href="tef-20221231.xsd#tef_PercentageOfPopulationCoveredIn5GNetwork"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PercentageOfPopulationCoveredIn5GNetwork" xlink:to="lab_tef_PercentageOfPopulationCoveredIn5GNetwork" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_EmployeeBenefitsExpense_label_en-US" xlink:label="lab_ifrs-full_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Employee benefits expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EmployeeBenefitsExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EmployeeBenefitsExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EmployeeBenefitsExpense" xlink:to="lab_ifrs-full_EmployeeBenefitsExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfSitesTransferred_9040ab94-b221-4e7a-9ec9-67a4d6737c86_terseLabel_en-US" xlink:label="lab_tef_NumberOfSitesTransferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of sites transferred</link:label>
    <link:label id="lab_tef_NumberOfSitesTransferred_label_en-US" xlink:label="lab_tef_NumberOfSitesTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of sites transferred</link:label>
    <link:label id="lab_tef_NumberOfSitesTransferred_documentation_en-US" xlink:label="lab_tef_NumberOfSitesTransferred" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of sites transferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfSitesTransferred" xlink:href="tef-20221231.xsd#tef_NumberOfSitesTransferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfSitesTransferred" xlink:to="lab_tef_NumberOfSitesTransferred" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelxiusTorresArgentinaS.A.Member_0264f1de-bafb-4159-be95-c55b30d2a6ae_terseLabel_en-US" xlink:label="lab_tef_TelxiusTorresArgentinaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Argentina, S.A.</link:label>
    <link:label id="lab_tef_TelxiusTorresArgentinaS.A.Member_label_en-US" xlink:label="lab_tef_TelxiusTorresArgentinaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Argentina S.A. [Member]</link:label>
    <link:label id="lab_tef_TelxiusTorresArgentinaS.A.Member_documentation_en-US" xlink:label="lab_tef_TelxiusTorresArgentinaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Argentina S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusTorresArgentinaS.A.Member" xlink:href="tef-20221231.xsd#tef_TelxiusTorresArgentinaS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusTorresArgentinaS.A.Member" xlink:to="lab_tef_TelxiusTorresArgentinaS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProvisionsForDefinedBenefitPlans_d23c28d8-ffac-480b-9808-7fce7c039f6e_totalLabel_en-US" xlink:label="lab_tef_ProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Post-employment defined benefit plans</link:label>
    <link:label id="lab_tef_ProvisionsForDefinedBenefitPlans_0f05e457-d606-4570-8838-e6772e5acd81_terseLabel_en-US" xlink:label="lab_tef_ProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net provision</link:label>
    <link:label id="lab_tef_ProvisionsForDefinedBenefitPlans_label_en-US" xlink:label="lab_tef_ProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provisions For Defined Benefit Plans</link:label>
    <link:label id="lab_tef_ProvisionsForDefinedBenefitPlans_documentation_en-US" xlink:label="lab_tef_ProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provisions For Defined Benefit Plans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProvisionsForDefinedBenefitPlans" xlink:href="tef-20221231.xsd#tef_ProvisionsForDefinedBenefitPlans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProvisionsForDefinedBenefitPlans" xlink:to="lab_tef_ProvisionsForDefinedBenefitPlans" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_c58c965f-db1b-4377-b912-420a14cb4cb1_terseLabel_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity holders of the parent and other holders of equity instruments</link:label>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_label_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Comprehensive income, attributable to owners of parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueAndOperatingIncome_9bbb26bb-5e24-41ca-949f-7efa5600e29b_totalLabel_en-US" xlink:label="lab_ifrs-full_RevenueAndOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">OIBDA</link:label>
    <link:label id="lab_ifrs-full_RevenueAndOperatingIncome_2cb9bf41-b88e-446e-9ea8-7f2f5c701396_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueAndOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">OIBDA</link:label>
    <link:label id="lab_ifrs-full_RevenueAndOperatingIncome_label_en-US" xlink:label="lab_ifrs-full_RevenueAndOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue and other operating income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueAndOperatingIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueAndOperatingIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueAndOperatingIncome" xlink:to="lab_ifrs-full_RevenueAndOperatingIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_BusinessContactMember_414af6b4-7240-436a-b5ef-19330979ecc1_terseLabel_en-US" xlink:label="lab_dei_BusinessContactMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business contact</link:label>
    <link:label id="lab_dei_BusinessContactMember_label_en-US" xlink:label="lab_dei_BusinessContactMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Contact [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_BusinessContactMember" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_BusinessContactMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_BusinessContactMember" xlink:to="lab_dei_BusinessContactMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2025Member_f5cfebd0-b9bc-4099-86d2-2aca6c732128_terseLabel_en-US" xlink:label="lab_tef_Expiringin2025Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025</link:label>
    <link:label id="lab_tef_Expiringin2025Member_label_en-US" xlink:label="lab_tef_Expiringin2025Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2025Member_documentation_en-US" xlink:label="lab_tef_Expiringin2025Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2025Member" xlink:href="tef-20221231.xsd#tef_Expiringin2025Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2025Member" xlink:to="lab_tef_Expiringin2025Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelxiusCableEcuadorS.A.Member_b6ff2638-69ef-40bf-a81c-667a41c792df_terseLabel_en-US" xlink:label="lab_tef_TelxiusCableEcuadorS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable Ecuador, S.A. Sale of usage of data transmission capacity via an underwater optical fibre network</link:label>
    <link:label id="lab_tef_TelxiusCableEcuadorS.A.Member_label_en-US" xlink:label="lab_tef_TelxiusCableEcuadorS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable Ecuador S.A. [Member]</link:label>
    <link:label id="lab_tef_TelxiusCableEcuadorS.A.Member_documentation_en-US" xlink:label="lab_tef_TelxiusCableEcuadorS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable Ecuador S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusCableEcuadorS.A.Member" xlink:href="tef-20221231.xsd#tef_TelxiusCableEcuadorS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusCableEcuadorS.A.Member" xlink:to="lab_tef_TelxiusCableEcuadorS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelxiusTorresChileS.A.Member_86a4b107-040d-416d-ad6b-ab2b5e0c3165_terseLabel_en-US" xlink:label="lab_tef_TelxiusTorresChileS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Chile, S.A.</link:label>
    <link:label id="lab_tef_TelxiusTorresChileS.A.Member_label_en-US" xlink:label="lab_tef_TelxiusTorresChileS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Chile S.A. [Member]</link:label>
    <link:label id="lab_tef_TelxiusTorresChileS.A.Member_documentation_en-US" xlink:label="lab_tef_TelxiusTorresChileS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Chile S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusTorresChileS.A.Member" xlink:href="tef-20221231.xsd#tef_TelxiusTorresChileS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusTorresChileS.A.Member" xlink:to="lab_tef_TelxiusTorresChileS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondMember_0d5ef791-bfce-461c-b86c-36f3cf23f3c6_terseLabel_en-US" xlink:label="lab_tef_BondMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond</link:label>
    <link:label id="lab_tef_BondMember_label_en-US" xlink:label="lab_tef_BondMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond [Member]</link:label>
    <link:label id="lab_tef_BondMember_documentation_en-US" xlink:label="lab_tef_BondMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondMember" xlink:href="tef-20221231.xsd#tef_BondMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondMember" xlink:to="lab_tef_BondMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncomeTaxesAbstract_09c0503b-cf44-4ad9-b964-72ea17b58ede_terseLabel_en-US" xlink:label="lab_tef_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:label id="lab_tef_IncomeTaxesAbstract_label_en-US" xlink:label="lab_tef_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:label id="lab_tef_IncomeTaxesAbstract_documentation_en-US" xlink:label="lab_tef_IncomeTaxesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Taxes [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncomeTaxesAbstract" xlink:href="tef-20221231.xsd#tef_IncomeTaxesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncomeTaxesAbstract" xlink:to="lab_tef_IncomeTaxesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2022Option1Member_544e6972-f3d9-44fd-9abf-e2335f64684a_terseLabel_en-US" xlink:label="lab_tef_Expiringin2022Option1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022, Option 1</link:label>
    <link:label id="lab_tef_Expiringin2022Option1Member_label_en-US" xlink:label="lab_tef_Expiringin2022Option1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022, Option 1 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2022Option1Member_documentation_en-US" xlink:label="lab_tef_Expiringin2022Option1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022, Option 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2022Option1Member" xlink:href="tef-20221231.xsd#tef_Expiringin2022Option1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2022Option1Member" xlink:to="lab_tef_Expiringin2022Option1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions_4068b4e7-fdf7-461f-880a-9320ce774773_verboseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through transfers and other changes, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock_f28a8a8d-d093-4db2-bc25-b70ee5047d48_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of Provisions for Judicial Deposits</link:label>
    <link:label id="lab_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock_label_en-US" xlink:label="lab_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Provisions For Judicial Deposits [Table Text Block]</link:label>
    <link:label id="lab_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock_documentation_en-US" xlink:label="lab_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure OF Provisions For Judicial Deposits [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock" xlink:to="lab_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_c98c5077-40a3-41eb-9391-fa52ced94179_terseLabel_en-US" xlink:label="lab_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax expense at prevailing statutory rate</link:label>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod_5157da10-8911-4d19-904a-dc706ded015b_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share acquisition maximum period</link:label>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod_label_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Share Acquisition, Maximum Period</link:label>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod_documentation_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Share Acquisition, Maximum Period</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod" xlink:to="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardShareAcquisitionMaximumPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation_dc86f274-f474-4b91-9a0d-ac0eaeb050ff_terseLabel_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrued fixed compensation</link:label>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation_label_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key Management Personnel Compensation, Accrued Fixed Compensation</link:label>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation_documentation_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key Management Personnel Compensation, Accrued Fixed Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation" xlink:href="tef-20221231.xsd#tef_KeyManagementPersonnelCompensationAccruedFixedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation" xlink:to="lab_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_USDvs.EURMember_19ce848e-a387-4663-bd67-0f9efe30812f_terseLabel_en-US" xlink:label="lab_tef_USDvs.EURMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">USD vs EUR</link:label>
    <link:label id="lab_tef_USDvs.EURMember_label_en-US" xlink:label="lab_tef_USDvs.EURMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">USD vs. EUR [Member]</link:label>
    <link:label id="lab_tef_USDvs.EURMember_documentation_en-US" xlink:label="lab_tef_USDvs.EURMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">USD vs. EUR [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_USDvs.EURMember" xlink:href="tef-20221231.xsd#tef_USDvs.EURMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_USDvs.EURMember" xlink:to="lab_tef_USDvs.EURMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_USDLibor3MInterestRateMember_67e35ca7-bf8d-4cde-9a61-d0b0c98dd9d7_terseLabel_en-US" xlink:label="lab_tef_USDLibor3MInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">USD Libor 3M</link:label>
    <link:label id="lab_tef_USDLibor3MInterestRateMember_label_en-US" xlink:label="lab_tef_USDLibor3MInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">USD Libor 3M Interest Rate [Member]</link:label>
    <link:label id="lab_tef_USDLibor3MInterestRateMember_documentation_en-US" xlink:label="lab_tef_USDLibor3MInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">USD Libor 3M Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_USDLibor3MInterestRateMember" xlink:href="tef-20221231.xsd#tef_USDLibor3MInterestRateMember"/>
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    <link:label id="lab_currency_VES_5bad6ca0-9506-4d9e-bc0c-4328e07196e9_verboseLabel_en-US" xlink:label="lab_currency_VES" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Venezuelan bolivar</link:label>
    <link:label id="lab_currency_VES_5910d480-48d5-4bdb-913b-12018d0dff1b_terseLabel_en-US" xlink:label="lab_currency_VES" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">VEB</link:label>
    <link:label id="lab_currency_VES_label_en-US" xlink:label="lab_currency_VES" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Venezuelan Bol&#237;var Soberano</link:label>
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    <link:label id="lab_tef_TelefonicaSpainMember_5751c153-5a43-4d21-8d70-78068f58285a_terseLabel_en-US" xlink:label="lab_tef_TelefonicaSpainMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Spain</link:label>
    <link:label id="lab_tef_TelefonicaSpainMember_label_en-US" xlink:label="lab_tef_TelefonicaSpainMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Spain [Member]</link:label>
    <link:label id="lab_tef_TelefonicaSpainMember_documentation_en-US" xlink:label="lab_tef_TelefonicaSpainMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Spain [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaSpainMember" xlink:to="lab_tef_TelefonicaSpainMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DomesticDefinedBenefitPlanMember_5cfd23bc-741f-4228-89b1-24a6d389da26_terseLabel_en-US" xlink:label="lab_tef_DomesticDefinedBenefitPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Benefits plan</link:label>
    <link:label id="lab_tef_DomesticDefinedBenefitPlanMember_label_en-US" xlink:label="lab_tef_DomesticDefinedBenefitPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Domestic Defined Benefit Plan [Member]</link:label>
    <link:label id="lab_tef_DomesticDefinedBenefitPlanMember_documentation_en-US" xlink:label="lab_tef_DomesticDefinedBenefitPlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Domestic Defined Benefit Plan [Member]</link:label>
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    <link:label id="lab_ifrs-full_CurrentTaxLiabilitiesCurrent_2b3f6acd-7a97-4a4c-981d-d85d6ce7d2c3_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current tax payables</link:label>
    <link:label id="lab_ifrs-full_CurrentTaxLiabilitiesCurrent_cdd14c82-0932-4c50-880b-630e7ada02f4_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ifrs-full_CurrentTaxLiabilitiesCurrent_label_en-US" xlink:label="lab_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current tax liabilities, current</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="lab_ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived_fe1a421b-2acd-4c96-bcb8-aa81e34a8c18_negatedTerseLabel_en-US" xlink:label="lab_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net payments of interest and other financial expenses net of dividends received</link:label>
    <link:label id="lab_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived_4a797c85-ca22-4f22-85f2-cbf617074f78_negatedTotalLabel_en-US" xlink:label="lab_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net payments of interest and other financial expenses net of dividends received</link:label>
    <link:label id="lab_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived_label_en-US" xlink:label="lab_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments Of Interest And Other Financial Expenses, Net Of Dividends Received</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" xlink:href="tef-20221231.xsd#tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" xlink:to="lab_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherCommitmentsMember_ac8739e8-e8ae-451a-ab02-23d0f6adbe03_terseLabel_en-US" xlink:label="lab_tef_OtherCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other commitments</link:label>
    <link:label id="lab_tef_OtherCommitmentsMember_label_en-US" xlink:label="lab_tef_OtherCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Commitments [Member]</link:label>
    <link:label id="lab_tef_OtherCommitmentsMember_documentation_en-US" xlink:label="lab_tef_OtherCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Commitments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherCommitmentsMember" xlink:href="tef-20221231.xsd#tef_OtherCommitmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherCommitmentsMember" xlink:to="lab_tef_OtherCommitmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DepositsAndGuaranteesMember_8040197a-8fd0-4495-9440-339aba2a17e7_terseLabel_en-US" xlink:label="lab_tef_DepositsAndGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deposits and guarantees</link:label>
    <link:label id="lab_tef_DepositsAndGuaranteesMember_62f245eb-c72c-4f7b-9b9c-f27b1950e684_verboseLabel_en-US" xlink:label="lab_tef_DepositsAndGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-term deposits and guarantees</link:label>
    <link:label id="lab_tef_DepositsAndGuaranteesMember_label_en-US" xlink:label="lab_tef_DepositsAndGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deposits And Guarantees [Member]</link:label>
    <link:label id="lab_tef_DepositsAndGuaranteesMember_documentation_en-US" xlink:label="lab_tef_DepositsAndGuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deposits And Guarantees [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DepositsAndGuaranteesMember" xlink:href="tef-20221231.xsd#tef_DepositsAndGuaranteesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DepositsAndGuaranteesMember" xlink:to="lab_tef_DepositsAndGuaranteesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows_3eddcd9f-8854-4154-82ed-f744697d3e46_terseLabel_en-US" xlink:label="lab_tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Individual suspension plan, present value of estimated cash flows</link:label>
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    <link:label id="lab_tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows_documentation_en-US" xlink:label="lab_tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Individual Suspension Plan, Present Value Of Estimated Cash Flows</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows" xlink:href="tef-20221231.xsd#tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows" xlink:to="lab_tef_IndividualSuspensionPlanPresentValueOfEstimatedCashFlows" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherExpensesRelatedPartyTransaction_ac056e05-d487-4f59-aaea-67814551f466_terseLabel_en-US" xlink:label="lab_tef_OtherExpensesRelatedPartyTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other expenses</link:label>
    <link:label id="lab_tef_OtherExpensesRelatedPartyTransaction_label_en-US" xlink:label="lab_tef_OtherExpensesRelatedPartyTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Expenses, Related Party Transaction</link:label>
    <link:label id="lab_tef_OtherExpensesRelatedPartyTransaction_documentation_en-US" xlink:label="lab_tef_OtherExpensesRelatedPartyTransaction" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Expenses, Related Party Transaction</link:label>
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    <link:label id="lab_tef_CurrentPayablesAndOtherCurrentLiabilities_label_en-US" xlink:label="lab_tef_CurrentPayablesAndOtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Payables And Other Current Liabilities</link:label>
    <link:label id="lab_tef_CurrentPayablesAndOtherCurrentLiabilities_documentation_en-US" xlink:label="lab_tef_CurrentPayablesAndOtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Payables And Other Current Liabilities</link:label>
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    <link:label id="lab_tef_VeronicaPascualBoeMember_43b1e6f4-3a34-474a-bd02-ab59b2fa2ee6_terseLabel_en-US" xlink:label="lab_tef_VeronicaPascualBoeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ms. Ver&#243;nica Pascual Bo&#233;</link:label>
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    <link:label id="lab_ifrs-full_NoncontrollingInterestsMember_2ba25cd5-5015-48c5-8925-9402d0dd7f14_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label id="lab_ifrs-full_NoncontrollingInterestsMember_label_en-US" xlink:label="lab_ifrs-full_NoncontrollingInterestsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-controlling interests [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncontrollingInterestsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncontrollingInterestsMember"/>
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    <link:label id="lab_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions_87efcd7b-0b56-459c-b4af-54147d1572d6_verboseLabel_en-US" xlink:label="lab_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue from operations with associates and joint ventures</link:label>
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    <link:label id="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_bef86788-774f-4144-a198-9e953af648ed_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Repayments of loans, borrowings and promissory notes</link:label>
    <link:label id="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_ad8e70b5-c822-4542-a869-eb5faf517a15_verboseLabel_en-US" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Repayments of loans, borrowings and promissory notes</link:label>
    <link:label id="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_18647291-d4be-4dbe-838e-3915eccfd412_terseLabel_en-US" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Repayments of borrowings, classified as financing activities</link:label>
    <link:label id="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Repayments of borrowings, classified as financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities"/>
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    <link:label id="lab_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member_195db7af-1b6a-4a12-bb6c-59588f5f1e4e_terseLabel_en-US" xlink:label="lab_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">China Unicom Broadban Online Limited Corp. [Member]</link:label>
    <link:label id="lab_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member_label_en-US" xlink:label="lab_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">China Unicom Broadban Online Limited Corp. [Member]</link:label>
    <link:label id="lab_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member_documentation_en-US" xlink:label="lab_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">China Unicom Broadban Online Limited Corp. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member" xlink:href="tef-20221231.xsd#tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member" xlink:to="lab_tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax_69bc95c0-717d-4379-894b-9d02f85acc2b_terseLabel_en-US" xlink:label="lab_ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables from taxes other than income tax</link:label>
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    <link:label id="lab_tef_AlamoHoldCoSLAndOnnetFibraColombiaSASMember_fe7447cf-adef-44bb-a8c0-e5d6c729a4a7_terseLabel_en-US" xlink:label="lab_tef_AlamoHoldCoSLAndOnnetFibraColombiaSASMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Alamo HoldCo S.L. and Onnet Fibra Colombia SAS</link:label>
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    <link:label id="lab_tef_AlamoHoldCoSLAndOnnetFibraColombiaSASMember_documentation_en-US" xlink:label="lab_tef_AlamoHoldCoSLAndOnnetFibraColombiaSASMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Alamo HoldCo S.L. And Onnet Fibra Colombia SAS</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AlamoHoldCoSLAndOnnetFibraColombiaSASMember" xlink:to="lab_tef_AlamoHoldCoSLAndOnnetFibraColombiaSASMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherProceedsPaymentsofFinancialInstruments_f603e102-72d5-41ef-bf6f-1d1e432357b9_terseLabel_en-US" xlink:label="lab_tef_OtherProceedsPaymentsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other (proceeds)/payments</link:label>
    <link:label id="lab_tef_OtherProceedsPaymentsofFinancialInstruments_label_en-US" xlink:label="lab_tef_OtherProceedsPaymentsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other (Proceeds) / Payments of Financial Instruments</link:label>
    <link:label id="lab_tef_OtherProceedsPaymentsofFinancialInstruments_documentation_en-US" xlink:label="lab_tef_OtherProceedsPaymentsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other (Proceeds) / Payments of Financial Instruments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherProceedsPaymentsofFinancialInstruments" xlink:href="tef-20221231.xsd#tef_OtherProceedsPaymentsofFinancialInstruments"/>
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    <link:label id="lab_srt_ScheduleOfCondensedFinancialStatementsTableTextBlock_d484d61f-5383-47bd-8c57-3a7676396af1_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfCondensedFinancialStatementsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Condensed Financial Statements of Non-controlling Interests</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfCondensedFinancialStatementsTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_ScheduleOfCondensedFinancialStatementsTableTextBlock"/>
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    <link:label id="lab_tef_TeleinformaticayComunicacionesMember_63ca996b-75bb-49f1-b488-7804600f784a_terseLabel_en-US" xlink:label="lab_tef_TeleinformaticayComunicacionesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Teleinformatica y Comunicaciones [Member]</link:label>
    <link:label id="lab_tef_TeleinformaticayComunicacionesMember_label_en-US" xlink:label="lab_tef_TeleinformaticayComunicacionesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Teleinformatica y Comunicaciones [Member]</link:label>
    <link:label id="lab_tef_TeleinformaticayComunicacionesMember_documentation_en-US" xlink:label="lab_tef_TeleinformaticayComunicacionesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Teleinformatica y Comunicaciones [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TeleinformaticayComunicacionesMember" xlink:href="tef-20221231.xsd#tef_TeleinformaticayComunicacionesMember"/>
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    <link:label id="lab_ifrs-full_DisclosureOfBusinessCombinationsTable_743ea679-feee-4c59-97ff-e34c35ab6e0d_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfBusinessCombinationsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about business combination [table]</link:label>
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    <link:label id="lab_tef_TelefonicaEspanaFilialesMember_d9136ab3-6d1a-4641-aec4-890f84494d6f_terseLabel_en-US" xlink:label="lab_tef_TelefonicaEspanaFilialesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Espa&#241;a Filiales</link:label>
    <link:label id="lab_tef_TelefonicaEspanaFilialesMember_label_en-US" xlink:label="lab_tef_TelefonicaEspanaFilialesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Espa&#241;a Filiales [Member]</link:label>
    <link:label id="lab_tef_TelefonicaEspanaFilialesMember_documentation_en-US" xlink:label="lab_tef_TelefonicaEspanaFilialesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Espa&#241;a Filiales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaEspanaFilialesMember" xlink:href="tef-20221231.xsd#tef_TelefonicaEspanaFilialesMember"/>
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    <link:label id="lab_tef_PercentageOfShareCapitalAcquired_7ec57777-7c0d-4d80-a9f8-daa8a29f3f80_terseLabel_en-US" xlink:label="lab_tef_PercentageOfShareCapitalAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of share capital acquired (as a percent)</link:label>
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    <link:label id="lab_tef_TelfinIreleandMember_928a6c34-33b2-4209-a323-a46c50cfec9e_terseLabel_en-US" xlink:label="lab_tef_TelfinIreleandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telfin Ireleand</link:label>
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    <link:label id="lab_tef_TelefonicaServiciosGlobalesMember_label_en-US" xlink:label="lab_tef_TelefonicaServiciosGlobalesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Servicios Globales [Member]</link:label>
    <link:label id="lab_tef_TelefonicaServiciosGlobalesMember_documentation_en-US" xlink:label="lab_tef_TelefonicaServiciosGlobalesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Servicios Globales [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaServiciosGlobalesMember" xlink:href="tef-20221231.xsd#tef_TelefonicaServiciosGlobalesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaServiciosGlobalesMember" xlink:to="lab_tef_TelefonicaServiciosGlobalesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfJointVenturesAndAssociatesTable_140b2c22-1c5a-4ee4-bba8-5dd01409198a_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfJointVenturesAndAssociatesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Joint Ventures And Associates [Table]</link:label>
    <link:label id="lab_tef_DisclosureOfJointVenturesAndAssociatesTable_label_en-US" xlink:label="lab_tef_DisclosureOfJointVenturesAndAssociatesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Joint Ventures And Associates [Table]</link:label>
    <link:label id="lab_tef_DisclosureOfJointVenturesAndAssociatesTable_documentation_en-US" xlink:label="lab_tef_DisclosureOfJointVenturesAndAssociatesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Joint Ventures And Associates [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfJointVenturesAndAssociatesTable" xlink:href="tef-20221231.xsd#tef_DisclosureOfJointVenturesAndAssociatesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfJointVenturesAndAssociatesTable" xlink:to="lab_tef_DisclosureOfJointVenturesAndAssociatesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherProductsAndServicesMember_9b9d6b0f-f828-4a35-9b21-87ede41ac85c_terseLabel_en-US" xlink:label="lab_tef_OtherProductsAndServicesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other contractual liabilities</link:label>
    <link:label id="lab_tef_OtherProductsAndServicesMember_label_en-US" xlink:label="lab_tef_OtherProductsAndServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Products And Services [Member]</link:label>
    <link:label id="lab_tef_OtherProductsAndServicesMember_documentation_en-US" xlink:label="lab_tef_OtherProductsAndServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Products And Services [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherProductsAndServicesMember" xlink:href="tef-20221231.xsd#tef_OtherProductsAndServicesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherProductsAndServicesMember" xlink:to="lab_tef_OtherProductsAndServicesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TreasuryShareAcquisitionPrice_fdb4428a-95f7-42f7-af5a-383a00df2b3b_terseLabel_en-US" xlink:label="lab_tef_TreasuryShareAcquisitionPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisition price (EUR per share)</link:label>
    <link:label id="lab_tef_TreasuryShareAcquisitionPrice_label_en-US" xlink:label="lab_tef_TreasuryShareAcquisitionPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Share Acquisition Price</link:label>
    <link:label id="lab_tef_TreasuryShareAcquisitionPrice_documentation_en-US" xlink:label="lab_tef_TreasuryShareAcquisitionPrice" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Share Acquisition Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TreasuryShareAcquisitionPrice" xlink:href="tef-20221231.xsd#tef_TreasuryShareAcquisitionPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TreasuryShareAcquisitionPrice" xlink:to="lab_tef_TreasuryShareAcquisitionPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TradingEquitySecuritiesMember_72837ef5-ab20-47d7-97f9-337aa8e52e35_terseLabel_en-US" xlink:label="lab_ifrs-full_TradingEquitySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non trading accountant purposes</link:label>
    <link:label id="lab_ifrs-full_TradingEquitySecuritiesMember_label_en-US" xlink:label="lab_ifrs-full_TradingEquitySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trading equity securities [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradingEquitySecuritiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradingEquitySecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradingEquitySecuritiesMember" xlink:to="lab_ifrs-full_TradingEquitySecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaBrasilS.A.Member_006227bf-bd79-4231-86bd-ad11b5ef88c7_terseLabel_en-US" xlink:label="lab_tef_TelefonicaBrasilS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Brasil, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaBrasilS.A.Member_6a0dfbbb-d408-4d86-a847-969a8845546b_verboseLabel_en-US" xlink:label="lab_tef_TelefonicaBrasilS.A.Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#244;nica Brasil, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaBrasilS.A.Member_label_en-US" xlink:label="lab_tef_TelefonicaBrasilS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil, S.A. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaBrasilS.A.Member_documentation_en-US" xlink:label="lab_tef_TelefonicaBrasilS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil, S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaBrasilS.A.Member" xlink:href="tef-20221231.xsd#tef_TelefonicaBrasilS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaBrasilS.A.Member" xlink:to="lab_tef_TelefonicaBrasilS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember_839cc06c-5d06-4f4b-9a3a-4613b97f81ba_verboseLabel_en-US" xlink:label="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember_0a9b25e9-b39c-4b62-bf7a-fb7fbd7307a5_terseLabel_en-US" xlink:label="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A. Specialised credit institution</link:label>
    <link:label id="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember_label_en-US" xlink:label="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Consumer Finance, Establecimiento Financiero de Credito, SA [Member]</link:label>
    <link:label id="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember_documentation_en-US" xlink:label="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Consumer Finance, Establecimiento Financiero de Credito, SA [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember" xlink:href="tef-20221231.xsd#tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember" xlink:to="lab_tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_CondensedCashFlowStatementTable_531ec042-6965-4d31-9a24-f1ca2616fdf7_terseLabel_en-US" xlink:label="lab_srt_CondensedCashFlowStatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Condensed Cash Flow Statement [Table]</link:label>
    <link:label id="lab_srt_CondensedCashFlowStatementTable_label_en-US" xlink:label="lab_srt_CondensedCashFlowStatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Condensed Cash Flow Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CondensedCashFlowStatementTable" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_CondensedCashFlowStatementTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CondensedCashFlowStatementTable" xlink:to="lab_srt_CondensedCashFlowStatementTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LaterThanOneYearMember_e84331db-1910-43b1-a5fa-9c49046fb69b_verboseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">More than 360 days</link:label>
    <link:label id="lab_ifrs-full_LaterThanOneYearMember_afbe5124-0f75-4dcb-95ae-b7a9438700af_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current total</link:label>
    <link:label id="lab_ifrs-full_LaterThanOneYearMember_27e6248d-f731-4d19-baf3-38d2a0b2808b_netLabel_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">More than 1 year</link:label>
    <link:label id="lab_ifrs-full_LaterThanOneYearMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Later than one year [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanOneYearMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanOneYearMember" xlink:to="lab_ifrs-full_LaterThanOneYearMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentAgreementDomain_a3a673d4-3baa-4d49-93c2-5646e3602a6e_terseLabel_en-US" xlink:label="lab_tef_PaymentAgreementDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment agreement [Domain]</link:label>
    <link:label id="lab_tef_PaymentAgreementDomain_label_en-US" xlink:label="lab_tef_PaymentAgreementDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment agreement [Domain]</link:label>
    <link:label id="lab_tef_PaymentAgreementDomain_documentation_en-US" xlink:label="lab_tef_PaymentAgreementDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment agreement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentAgreementDomain" xlink:href="tef-20221231.xsd#tef_PaymentAgreementDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentAgreementDomain" xlink:to="lab_tef_PaymentAgreementDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization_1ea87751-119d-4c3d-b66a-2dfaa7dbabbd_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Delivery percent (free cash flow generation, maximum compliance)</link:label>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization_label_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Percentage Of Carbon Dioxide Emission Neutralization</link:label>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization_documentation_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Percentage Of Carbon Dioxide Emission Neutralization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" xlink:href="tef-20221231.xsd#tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" xlink:to="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FiberToTheHomeJointVentureMember_aa59dcb2-3bbb-4edb-8b96-7dc86953adae_terseLabel_en-US" xlink:label="lab_tef_FiberToTheHomeJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FTTH Joint Venture</link:label>
    <link:label id="lab_tef_FiberToTheHomeJointVentureMember_label_en-US" xlink:label="lab_tef_FiberToTheHomeJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fiber To The Home Joint Venture [Member]</link:label>
    <link:label id="lab_tef_FiberToTheHomeJointVentureMember_documentation_en-US" xlink:label="lab_tef_FiberToTheHomeJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fiber To The Home Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FiberToTheHomeJointVentureMember" xlink:href="tef-20221231.xsd#tef_FiberToTheHomeJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FiberToTheHomeJointVentureMember" xlink:to="lab_tef_FiberToTheHomeJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IndefiniteOption2Member_1349c46c-ee9a-4f56-a273-ece5d188ab61_terseLabel_en-US" xlink:label="lab_tef_IndefiniteOption2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 2</link:label>
    <link:label id="lab_tef_IndefiniteOption2Member_label_en-US" xlink:label="lab_tef_IndefiniteOption2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 2 [Member]</link:label>
    <link:label id="lab_tef_IndefiniteOption2Member_documentation_en-US" xlink:label="lab_tef_IndefiniteOption2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IndefiniteOption2Member" xlink:href="tef-20221231.xsd#tef_IndefiniteOption2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IndefiniteOption2Member" xlink:to="lab_tef_IndefiniteOption2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash_c25cd179-5d7c-412c-a46a-3d416d7fe953_terseLabel_en-US" xlink:label="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of shareholders issued free-of-charge allotment rights issued in cash (as a percent)</link:label>
    <link:label id="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash_label_en-US" xlink:label="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Shareholders Issued Free-Of-Charge Allotment Rights Issued In Cash</link:label>
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    <link:label id="lab_tef_SyndicatedLoanDueDecember12024Member_a6715c60-9e12-45a1-b893-2d7c61fac0eb_terseLabel_en-US" xlink:label="lab_tef_SyndicatedLoanDueDecember12024Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated loan due December 1, 2024</link:label>
    <link:label id="lab_tef_SyndicatedLoanDueDecember12024Member_label_en-US" xlink:label="lab_tef_SyndicatedLoanDueDecember12024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due December 1, 2024 [Member]</link:label>
    <link:label id="lab_tef_SyndicatedLoanDueDecember12024Member_documentation_en-US" xlink:label="lab_tef_SyndicatedLoanDueDecember12024Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due December 1, 2024</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SyndicatedLoanDueDecember12024Member" xlink:href="tef-20221231.xsd#tef_SyndicatedLoanDueDecember12024Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SyndicatedLoanDueDecember12024Member" xlink:to="lab_tef_SyndicatedLoanDueDecember12024Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncrementalGroupMember_0bb2c26a-2cae-4e3d-900f-7288f44dd8b4_terseLabel_en-US" xlink:label="lab_tef_IncrementalGroupMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group</link:label>
    <link:label id="lab_tef_IncrementalGroupMember_label_en-US" xlink:label="lab_tef_IncrementalGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group [Member]</link:label>
    <link:label id="lab_tef_IncrementalGroupMember_documentation_en-US" xlink:label="lab_tef_IncrementalGroupMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncrementalGroupMember" xlink:href="tef-20221231.xsd#tef_IncrementalGroupMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncrementalGroupMember" xlink:to="lab_tef_IncrementalGroupMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaS.A.Member_3671d178-c998-4559-ada1-6649b8518b27_terseLabel_en-US" xlink:label="lab_tef_TelefonicaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaS.A.Member_label_en-US" xlink:label="lab_tef_TelefonicaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica, S.A. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaS.A.Member_documentation_en-US" xlink:label="lab_tef_TelefonicaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica, S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaS.A.Member" xlink:href="tef-20221231.xsd#tef_TelefonicaS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaS.A.Member" xlink:to="lab_tef_TelefonicaS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2025Option3Member_63d9c8d4-a67c-417b-be06-882c85ee5563_terseLabel_en-US" xlink:label="lab_tef_Expiringin2025Option3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 3</link:label>
    <link:label id="lab_tef_Expiringin2025Option3Member_label_en-US" xlink:label="lab_tef_Expiringin2025Option3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 3 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2025Option3Member_documentation_en-US" xlink:label="lab_tef_Expiringin2025Option3Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 3 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2025Option3Member" xlink:href="tef-20221231.xsd#tef_Expiringin2025Option3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2025Option3Member" xlink:to="lab_tef_Expiringin2025Option3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2043Member_ba60b8ce-374f-4b1f-bad5-24993917e04c_terseLabel_en-US" xlink:label="lab_tef_Expiringin2043Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2043</link:label>
    <link:label id="lab_tef_Expiringin2043Member_label_en-US" xlink:label="lab_tef_Expiringin2043Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2043 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2043Member_documentation_en-US" xlink:label="lab_tef_Expiringin2043Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2043 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2043Member" xlink:href="tef-20221231.xsd#tef_Expiringin2043Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2043Member" xlink:to="lab_tef_Expiringin2043Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_b17b7d6b-8107-420f-acfc-b8861353e5c1_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Between 180 and 360 days</link:label>
    <link:label id="lab_ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Later than six months and not later than one year [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:to="lab_ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares_a71ad115-42f5-4059-b6d9-6546d1c3aac1_terseLabel_en-US" xlink:label="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of shareholders issued free-of-charge allotment rights issued in shares</link:label>
    <link:label id="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares_label_en-US" xlink:label="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Shareholders Issued Free-Of-Charge Allotment Rights Issued In Shares</link:label>
    <link:label id="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares_documentation_en-US" xlink:label="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Shareholders Issued Free-Of-Charge Allotment Rights Issued In Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" xlink:href="tef-20221231.xsd#tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" xlink:to="lab_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaParticipacionesS.A.U.Member_66c51384-f1cd-42fc-adcb-4d62bfc55697_terseLabel_en-US" xlink:label="lab_tef_TelefonicaParticipacionesS.A.U.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Participaciones, S.A.U. Financial debt instrument issuer</link:label>
    <link:label id="lab_tef_TelefonicaParticipacionesS.A.U.Member_label_en-US" xlink:label="lab_tef_TelefonicaParticipacionesS.A.U.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Participaciones S.A.U. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaParticipacionesS.A.U.Member_documentation_en-US" xlink:label="lab_tef_TelefonicaParticipacionesS.A.U.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Participaciones S.A.U. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaParticipacionesS.A.U.Member" xlink:href="tef-20221231.xsd#tef_TelefonicaParticipacionesS.A.U.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaParticipacionesS.A.U.Member" xlink:to="lab_tef_TelefonicaParticipacionesS.A.U.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CategoriesOfFinancialLiabilitiesAxis_2c5c9136-4373-4416-acd8-a375447fbbfa_terseLabel_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Categories of financial liabilities [axis]</link:label>
    <link:label id="lab_ifrs-full_CategoriesOfFinancialLiabilitiesAxis_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Categories of financial liabilities [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CategoriesOfFinancialLiabilitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:to="lab_ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AllLevelsOfFairValueHierarchyMember_8fe248b4-b8a3-4eee-9628-ce94954983f3_terseLabel_en-US" xlink:label="lab_ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">All levels of fair value hierarchy [member]</link:label>
    <link:label id="lab_ifrs-full_AllLevelsOfFairValueHierarchyMember_label_en-US" xlink:label="lab_ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">All levels of fair value hierarchy [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="lab_ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CarmenGarciadeAndresMember_18782905-3ddf-4c71-8864-13afee3ddb9c_terseLabel_en-US" xlink:label="lab_tef_CarmenGarciadeAndresMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ms. Carmen Garc&#237;a de Andr&#233;s</link:label>
    <link:label id="lab_tef_CarmenGarciadeAndresMember_label_en-US" xlink:label="lab_tef_CarmenGarciadeAndresMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Carmen Garcia de Andres [Member]</link:label>
    <link:label id="lab_tef_CarmenGarciadeAndresMember_documentation_en-US" xlink:label="lab_tef_CarmenGarciadeAndresMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Carmen Garcia de Andres [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CarmenGarciadeAndresMember" xlink:href="tef-20221231.xsd#tef_CarmenGarciadeAndresMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CarmenGarciadeAndresMember" xlink:to="lab_tef_CarmenGarciadeAndresMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaBrasilMember_05dd3843-c780-4950-aef1-08bd32b95d42_terseLabel_en-US" xlink:label="lab_tef_TelefonicaBrasilMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil</link:label>
    <link:label id="lab_tef_TelefonicaBrasilMember_label_en-US" xlink:label="lab_tef_TelefonicaBrasilMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil [Member]</link:label>
    <link:label id="lab_tef_TelefonicaBrasilMember_documentation_en-US" xlink:label="lab_tef_TelefonicaBrasilMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaBrasilMember" xlink:href="tef-20221231.xsd#tef_TelefonicaBrasilMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaBrasilMember" xlink:to="lab_tef_TelefonicaBrasilMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member_beeee87e-cca6-4142-893c-34a90c238de3_terseLabel_en-US" xlink:label="lab_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainability-linked Syndicated Loan Due January 13, 2026</link:label>
    <link:label id="lab_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member_label_en-US" xlink:label="lab_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainability-linked Syndicated Loan Due January 13, 2026 [Member]</link:label>
    <link:label id="lab_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member_documentation_en-US" xlink:label="lab_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainability-linked Syndicated Loan Due January 13, 2026</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member" xlink:href="tef-20221231.xsd#tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member" xlink:to="lab_tef_SustainabilityLinkedSyndicatedLoanDueJanuary132026Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCurrentLiabilities_0aaca0de-42fa-4365-be7a-b7ccfdea588e_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentLiabilities_4e642e5c-c917-42bf-b784-31ddbe685982_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current liabilities</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCurrentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentLiabilities" xlink:to="lab_ifrs-full_OtherCurrentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CostofAwardforBroadcastingRights_fdc8250c-0631-480c-8b64-d7dce380cf49_terseLabel_en-US" xlink:label="lab_tef_CostofAwardforBroadcastingRights" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of award for broadcasting rights</link:label>
    <link:label id="lab_tef_CostofAwardforBroadcastingRights_label_en-US" xlink:label="lab_tef_CostofAwardforBroadcastingRights" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of Award for Broadcasting Rights</link:label>
    <link:label id="lab_tef_CostofAwardforBroadcastingRights_documentation_en-US" xlink:label="lab_tef_CostofAwardforBroadcastingRights" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of Award for Broadcasting Rights</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CostofAwardforBroadcastingRights" xlink:href="tef-20221231.xsd#tef_CostofAwardforBroadcastingRights"/>
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    <link:label id="lab_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax_label_en-US" xlink:label="lab_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments of Coupon Related to Undated Deeply Subordinated Debt, Net of Tax</link:label>
    <link:label id="lab_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax_documentation_en-US" xlink:label="lab_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments of Coupon Related to Undated Deeply Subordinated Debt, Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" xlink:href="tef-20221231.xsd#tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" xlink:to="lab_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis_6883b42d-3283-4021-9044-7662a8b91a92_terseLabel_en-US" xlink:label="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuing and discontinued operations [axis]</link:label>
    <link:label id="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis_label_en-US" xlink:label="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuing and discontinued operations [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="lab_ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_5d1a2ea0-1cc4-48eb-b3c0-09a82f7f6e34_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financed operating payments and investments in property, plant and equipment and intangible assets payments</link:label>
    <link:label id="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_6c4e1760-af5f-4a79-b664-f0e991834ca5_negatedLabel_en-US" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financed operating payments and investments in property, plant and equipment and intangible assets payments</link:label>
    <link:label id="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments of lease liabilities, classified as financing activities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Revenue_14747365-33ec-4193-9b03-80ea5eb359b1_terseLabel_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenues</link:label>
    <link:label id="lab_ifrs-full_Revenue_5c30ef8b-ad3f-481b-8986-dd10c714fabd_verboseLabel_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue from operations with associates and joint ventures</link:label>
    <link:label id="lab_ifrs-full_Revenue_87bf3789-1015-4c81-ad5c-b7d6e89ec1f0_totalLabel_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ifrs-full_Revenue_label_en-US" xlink:label="lab_ifrs-full_Revenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Revenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Revenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Revenue" xlink:to="lab_ifrs-full_Revenue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TradeAndOtherPayablesToRelatedParties_07737610-2007-44d2-8f72-580e215474e7_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables to associates and joint ventures</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherPayablesToRelatedParties_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables to related parties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherPayablesToRelatedParties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:to="lab_ifrs-full_TradeAndOtherPayablesToRelatedParties" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SharePremiumMember_40822d93-a48c-40d3-8578-e239523bb2e4_terseLabel_en-US" xlink:label="lab_ifrs-full_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share premium</link:label>
    <link:label id="lab_ifrs-full_SharePremiumMember_label_en-US" xlink:label="lab_ifrs-full_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share premium [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SharePremiumMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SharePremiumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SharePremiumMember" xlink:to="lab_ifrs-full_SharePremiumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherIntangibleAssetsMember_16e610b0-2651-4a7b-adc9-af44303f6c96_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherIntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other intangible assets</link:label>
    <link:label id="lab_ifrs-full_OtherIntangibleAssetsMember_label_en-US" xlink:label="lab_ifrs-full_OtherIntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other intangible assets [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherIntangibleAssetsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherIntangibleAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherIntangibleAssetsMember" xlink:to="lab_ifrs-full_OtherIntangibleAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherShorttermProvisions_9623710d-eb92-4bf5-9570-8be1d2f16998_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherShorttermProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other provisions</link:label>
    <link:label id="lab_ifrs-full_OtherShorttermProvisions_b2231d95-4f99-495a-9d0d-439f67ce05e2_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherShorttermProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current (see Note 15)</link:label>
    <link:label id="lab_ifrs-full_OtherShorttermProvisions_label_en-US" xlink:label="lab_ifrs-full_OtherShorttermProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherShorttermProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherShorttermProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherShorttermProvisions" xlink:to="lab_ifrs-full_OtherShorttermProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination_8e6ae011-7a6d-457c-b769-bdcb60e7a3b0_terseLabel_en-US" xlink:label="lab_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset recognised for expected reimbursement, contingent liabilities in business combination</link:label>
    <link:label id="lab_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination_label_en-US" xlink:label="lab_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset recognised for expected reimbursement, contingent liabilities in business combination</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" xlink:to="lab_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilities_551699c5-fabe-43f9-9016-cba0b69b310c_terseLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilities_72affeac-61d9-4f13-9588-b1374b38a525_periodStartLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Beginning balance, deferred tax liabilities</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilities_f53df636-8b35-4fb0-9075-130b2a67dac7_periodEndLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ending balance, deferred tax liabilities</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxLiabilities_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxLiabilities" xlink:to="lab_ifrs-full_DeferredTaxLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_e8e72904-ca38-49da-b836-6f6db5d4bf30_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Gross Cost, Accumulated Amortization and Impairment Losses of Intangible Assets</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_ce052025-bc7d-4c5d-b90f-3d3fc1f20670_verboseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Goodwill by Group Segment</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [text block]</link:label>
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    <link:label id="lab_tef_TelefonicaHispanoamericaSAMember_ca7b6f05-120f-4667-80b9-b843c4f33013_terseLabel_en-US" xlink:label="lab_tef_TelefonicaHispanoamericaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Hispanoam&#233;rica, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaHispanoamericaSAMember_label_en-US" xlink:label="lab_tef_TelefonicaHispanoamericaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Hispanoam&#233;rica, S.A. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaHispanoamericaSAMember_documentation_en-US" xlink:label="lab_tef_TelefonicaHispanoamericaSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Hispanoam&#233;rica, S.A.</link:label>
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    <link:label id="lab_tef_DisposalGroupNameAxis_871281db-f4d2-410d-a790-4d4ed178ce02_terseLabel_en-US" xlink:label="lab_tef_DisposalGroupNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group Name [Axis]</link:label>
    <link:label id="lab_tef_DisposalGroupNameAxis_label_en-US" xlink:label="lab_tef_DisposalGroupNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group Name [Axis]</link:label>
    <link:label id="lab_tef_DisposalGroupNameAxis_documentation_en-US" xlink:label="lab_tef_DisposalGroupNameAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisposalGroupNameAxis" xlink:href="tef-20221231.xsd#tef_DisposalGroupNameAxis"/>
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    <link:label id="lab_ifrs-full_CurrentDerivativeFinancialLiabilities_d741a713-5406-45e0-bda1-7af3fbcf36af_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current derivative financial liabilities</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="lab_ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CostsToObtainContractsWithCustomersMember_63bc2fbf-bd7a-4bbe-99fc-49a13e063f83_terseLabel_en-US" xlink:label="lab_ifrs-full_CostsToObtainContractsWithCustomersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Of obtaining a contract</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CostsToObtainContractsWithCustomersMember" xlink:to="lab_ifrs-full_CostsToObtainContractsWithCustomersMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue_a02b554b-146f-4faf-98a6-4ce13f131cdd_terseLabel_en-US" xlink:label="lab_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfer to the initial value of hedged item</link:label>
    <link:label id="lab_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue_label_en-US" xlink:label="lab_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges in Equity, Increase (Decrease) from Transfer to Initial Value</link:label>
    <link:label id="lab_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue_documentation_en-US" xlink:label="lab_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges in Equity, Increase (Decrease) from Transfer to Initial Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" xlink:href="tef-20221231.xsd#tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" xlink:to="lab_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_2499b194-1c5a-4509-9d12-3dcc1d24b547_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans, net of tax</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_19b2e28a-7a0d-49a9-a481-ac4317cd6591_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on remeasurements of defined benefit plans</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans</link:label>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors_c2c30ca6-c175-4cc8-a97f-81da978bc350_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Required holding period for Executive Directors</link:label>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors_label_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Carbon Dioxide Emission Neutralization, Required Holding Period, Executive Directors</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors" xlink:href="tef-20221231.xsd#tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors"/>
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    <link:label id="lab_ifrs-full_NoncurrentProvisionsForEmployeeBenefits_d2527b0e-3ab9-48e9-a931-9c77e749717e_totalLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Employee benefits</link:label>
    <link:label id="lab_ifrs-full_NoncurrentProvisionsForEmployeeBenefits_label_en-US" xlink:label="lab_ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current provisions for employee benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="lab_ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaCelulardeNicaraguaMember_9da674a5-7b22-436f-908b-88abfccd859a_terseLabel_en-US" xlink:label="lab_tef_TelefonicaCelulardeNicaraguaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefon&#237;a Celular de Nicaragua, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaCelulardeNicaraguaMember_label_en-US" xlink:label="lab_tef_TelefonicaCelulardeNicaraguaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Celular de Nicaragua [Member]</link:label>
    <link:label id="lab_tef_TelefonicaCelulardeNicaraguaMember_documentation_en-US" xlink:label="lab_tef_TelefonicaCelulardeNicaraguaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Celular de Nicaragua [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaCelulardeNicaraguaMember" xlink:href="tef-20221231.xsd#tef_TelefonicaCelulardeNicaraguaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaCelulardeNicaraguaMember" xlink:to="lab_tef_TelefonicaCelulardeNicaraguaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DividendsPaid_59c5c19b-00ef-4888-be47-c753a120b46c_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DividendsPaid" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends and distribution of profit (Note 17)</link:label>
    <link:label id="lab_ifrs-full_DividendsPaid_label_en-US" xlink:label="lab_ifrs-full_DividendsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends recognised as distributions to owners</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaid" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaid" xlink:to="lab_ifrs-full_DividendsPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfHedgesMember_813a11cb-3aac-4c52-9fa7-7c68a467a9b6_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfHedgesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges [member]</link:label>
    <link:label id="lab_ifrs-full_TypesOfHedgesMember_label_en-US" xlink:label="lab_ifrs-full_TypesOfHedgesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfHedgesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TypesOfHedgesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfHedgesMember" xlink:to="lab_ifrs-full_TypesOfHedgesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_dcef43bc-0957-4896-960b-2198f7d20bab_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reclassification of (gains) losses included in the income statement (Note 19)</link:label>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_label_en-US" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reclassification adjustments on cash flow hedges, before tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:to="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PrincipalPaymentsofLeaseLiabilities_9809ffbe-c8f6-43b6-93f8-60a81052ab64_negatedLabel_en-US" xlink:label="lab_tef_PrincipalPaymentsofLeaseLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease principal payments (Note 20)</link:label>
    <link:label id="lab_tef_PrincipalPaymentsofLeaseLiabilities_label_en-US" xlink:label="lab_tef_PrincipalPaymentsofLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal Payments of Lease Liabilities</link:label>
    <link:label id="lab_tef_PrincipalPaymentsofLeaseLiabilities_documentation_en-US" xlink:label="lab_tef_PrincipalPaymentsofLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal Payments of Lease Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PrincipalPaymentsofLeaseLiabilities" xlink:href="tef-20221231.xsd#tef_PrincipalPaymentsofLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PrincipalPaymentsofLeaseLiabilities" xlink:to="lab_tef_PrincipalPaymentsofLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments_c91b18d3-0dc1-4c90-acf9-19fb7781c90c_totalLabel_en-US" xlink:label="lab_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net finance costs excluding foreign exchange differences and hyperinflation adjustments</link:label>
    <link:label id="lab_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments_label_en-US" xlink:label="lab_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finance Income (Cost), Excluding Foreign Exchange Differences And Hyperinflationary Adjustments</link:label>
    <link:label id="lab_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments_documentation_en-US" xlink:label="lab_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finance Income (Cost), Excluding Foreign Exchange Differences And Hyperinflationary Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" xlink:href="tef-20221231.xsd#tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" xlink:to="lab_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondT.Peru1stPrivateProgram1stSeriesAMember_0ac8f26e-fb18-45c4-81f9-233dc4ba7436_terseLabel_en-US" xlink:label="lab_tef_BondT.Peru1stPrivateProgram1stSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 1st Private Program (1st Serie A)</link:label>
    <link:label id="lab_tef_BondT.Peru1stPrivateProgram1stSeriesAMember_label_en-US" xlink:label="lab_tef_BondT.Peru1stPrivateProgram1stSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 1st Private Program (1st Series A) [Member]</link:label>
    <link:label id="lab_tef_BondT.Peru1stPrivateProgram1stSeriesAMember_documentation_en-US" xlink:label="lab_tef_BondT.Peru1stPrivateProgram1stSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 1st Private Program (1st Series A) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondT.Peru1stPrivateProgram1stSeriesAMember" xlink:href="tef-20221231.xsd#tef_BondT.Peru1stPrivateProgram1stSeriesAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondT.Peru1stPrivateProgram1stSeriesAMember" xlink:to="lab_tef_BondT.Peru1stPrivateProgram1stSeriesAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate_2194894c-1586-4623-bd6b-f3e76ce0c5cf_terseLabel_en-US" xlink:label="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Infrastructure contracts recognised as of acquisition date</link:label>
    <link:label id="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Infrastructure contracts recognised as of acquisition date</link:label>
    <link:label id="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate_documentation_en-US" xlink:label="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Infrastructure contracts recognised as of acquisition date</link:label>
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    <link:label id="lab_tef_TotalTemporaryDifferenceMember_be79489c-6ce5-4040-85e8-47b17b38905d_terseLabel_en-US" xlink:label="lab_tef_TotalTemporaryDifferenceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total temporary difference</link:label>
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    <link:label id="lab_tef_RatioOfOutstandingInvoices_documentation_en-US" xlink:label="lab_tef_RatioOfOutstandingInvoices" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ratio Of Outstanding Invoices</link:label>
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    <link:label id="lab_tef_EventsAfterReportingPeriodAbstract_e5de93a9-7bd0-4269-8b52-9dea4075e9dd_terseLabel_en-US" xlink:label="lab_tef_EventsAfterReportingPeriodAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Events After Reporting Period [Abstract]</link:label>
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    <link:label id="lab_tef_TelefonicaEmisionesEMTNBondMember_d3212c34-7fef-4dbb-bfbb-ee328867c9e7_terseLabel_en-US" xlink:label="lab_tef_TelefonicaEmisionesEMTNBondMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Emisiones EMTN Bond</link:label>
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    <link:label id="lab_tef_TheSmartStepsDataTechnologyCompanyMember_d2aec55c-42ca-40fe-aef1-97573cdf22d3_terseLabel_en-US" xlink:label="lab_tef_TheSmartStepsDataTechnologyCompanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">The Smart Steps Data Technology Company</link:label>
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    <link:label id="lab_tef_TheSmartStepsDataTechnologyCompanyMember_documentation_en-US" xlink:label="lab_tef_TheSmartStepsDataTechnologyCompanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">The Smart Steps Data Technology Company</link:label>
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    <link:label id="lab_tef_PurchaseOfRealEstateUnits_dac71205-5965-4281-8891-a14e689f4250_terseLabel_en-US" xlink:label="lab_tef_PurchaseOfRealEstateUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase of real estate units</link:label>
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    <link:label id="lab_ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets_f5263020-8b15-49a7-a730-6ef328b6f3ce_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amounts applied</link:label>
    <link:label id="lab_ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal, allowance account for credit losses of financial assets</link:label>
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    <link:label id="lab_tef_KeyManagementPersonnelCompensationInkindCompensation_79ebce65-3dbc-4559-aaec-d7d4b50b72f9_terseLabel_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationInkindCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">In-kind compensation</link:label>
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    <link:label id="lab_tef_AccruedInterestsofLeaseLiabilities_285cf411-17d7-4d57-96e2-a63f87d8b258_terseLabel_en-US" xlink:label="lab_tef_AccruedInterestsofLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrued interests</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_AccruedInterestsofLeaseLiabilities" xlink:href="tef-20221231.xsd#tef_AccruedInterestsofLeaseLiabilities"/>
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    <link:label id="lab_tef_TelefonicaTechUKLimitedMember_4ae261f4-986b-4e65-b96c-47521593493f_terseLabel_en-US" xlink:label="lab_tef_TelefonicaTechUKLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech UK Limited</link:label>
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    <link:label id="lab_tef_LegalReserveMinimumPercentageOfShareCapital_45bfdf73-e552-4aa1-bd25-f472351d05b2_terseLabel_en-US" xlink:label="lab_tef_LegalReserveMinimumPercentageOfShareCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal reserve, minimum proportion of share capital (as a percent)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_LegalReserveMinimumPercentageOfShareCapital" xlink:href="tef-20221231.xsd#tef_LegalReserveMinimumPercentageOfShareCapital"/>
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    <link:label id="lab_ifrs-full_ForeignExchangeLoss_cbbe3188-3cba-4cab-808e-87994f33000e_terseLabel_en-US" xlink:label="lab_ifrs-full_ForeignExchangeLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Foreign exchange loss</link:label>
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    <link:label id="lab_tef_RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm_97ca3bb4-68b5-4bd5-b3cf-df386d3b7652_terseLabel_en-US" xlink:label="lab_tef_RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Renewal of radio frequencies associated with the provision of personal mobile services, term</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESMARCH2017Member_7fb275ae-acd2-459c-a616-f8b8534d7e63_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESMARCH2017Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES MARCH 2017</link:label>
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    <link:label id="lab_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_edbced56-fb69-4338-ad5f-05fc11e2eba7_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of trade receivables</link:label>
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    <link:label id="lab_tef_WayraBrasilAceleradoradeProjetosLtdaMember_54d4451a-6106-4035-b74b-9bb390d9bd45_terseLabel_en-US" xlink:label="lab_tef_WayraBrasilAceleradoradeProjetosLtdaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">WY Telecom, S.A. de C.V. Talent identification and development in ICT</link:label>
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    <link:label id="lab_tef_IncrementalMember_400ad158-84dd-42e6-aa83-913b6f2245db_terseLabel_en-US" xlink:label="lab_tef_IncrementalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental</link:label>
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    <link:label id="lab_tef_IncrementalMember_documentation_en-US" xlink:label="lab_tef_IncrementalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental</link:label>
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    <link:label id="lab_tef_TradeAndOtherPayablesTable_f490fdc3-21fc-4e57-b1a1-02d8c66c796a_terseLabel_en-US" xlink:label="lab_tef_TradeAndOtherPayablesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade And Other Payables [Table]</link:label>
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    <link:label id="lab_tef_TradeAndOtherPayablesTable_documentation_en-US" xlink:label="lab_tef_TradeAndOtherPayablesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade And Other Payables [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TradeAndOtherPayablesTable" xlink:href="tef-20221231.xsd#tef_TradeAndOtherPayablesTable"/>
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    <link:label id="lab_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures_7f9cd444-42a9-49ea-8f6e-3a1db89f9441_terseLabel_en-US" xlink:label="lab_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-Term Contractual Liabilities From Associates And Joint Ventures</link:label>
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    <link:label id="lab_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures_documentation_en-US" xlink:label="lab_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-Term Contractual Liabilities From Associates And Joint Ventures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures" xlink:href="tef-20221231.xsd#tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures"/>
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    <link:label id="lab_ifrs-full_DisclosureOfLeasesExplanatory_12fbbb2e-249b-45bd-b792-0e878d9aecf3_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfLeasesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease Liabilities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfLeasesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfLeasesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of leases [text block]</link:label>
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    <link:label id="lab_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_b3c7908d-73a3-4592-9ed7-0afdeef6ddeb_verboseLabel_en-US" xlink:label="lab_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Directors</link:label>
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    <link:label id="lab_tef_ReasonforProvisionAxis_edc9e9f9-2ff9-40af-8cde-4500236d2ebe_terseLabel_en-US" xlink:label="lab_tef_ReasonforProvisionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reason for Provision [Axis]</link:label>
    <link:label id="lab_tef_ReasonforProvisionAxis_label_en-US" xlink:label="lab_tef_ReasonforProvisionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reason for Provision [Axis]</link:label>
    <link:label id="lab_tef_ReasonforProvisionAxis_documentation_en-US" xlink:label="lab_tef_ReasonforProvisionAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reason for Provision [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReasonforProvisionAxis" xlink:href="tef-20221231.xsd#tef_ReasonforProvisionAxis"/>
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    <link:label id="lab_tef_RegulatoryOperationsSpeedofWholesaleFixedNetworkInfrastructuretoTransportLocalandLongDistancesTransmission_fbcd6f0d-9cd4-4bfa-85b3-69a66d580075_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsSpeedofWholesaleFixedNetworkInfrastructuretoTransportLocalandLongDistancesTransmission" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Speed of wholesale fixed network infrastructure to transport local and long distance transmission (Mbit per second)</link:label>
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    <link:label id="lab_tef_PercentageOfEquityOfJointVenture_1f535c5e-e782-4586-b4a4-ed0f3bff065f_terseLabel_en-US" xlink:label="lab_tef_PercentageOfEquityOfJointVenture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity of joint venture (in percent)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfEquityOfJointVenture" xlink:href="tef-20221231.xsd#tef_PercentageOfEquityOfJointVenture"/>
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    <link:label id="lab_tef_OtherJointVenturesMember_fca9b1b4-7ac5-4a3a-8ead-00e42db21495_terseLabel_en-US" xlink:label="lab_tef_OtherJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
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    <link:label id="lab_tef_CurrentFinancialLiabilitiesAtFairValue_d86f2437-4e1e-4031-ab05-4804d0e351e1_terseLabel_en-US" xlink:label="lab_tef_CurrentFinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair value of current financial liabilities</link:label>
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    <link:label id="lab_tef_CurrentFinancialLiabilitiesAtFairValue_documentation_en-US" xlink:label="lab_tef_CurrentFinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Financial Liabilities, At Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentFinancialLiabilitiesAtFairValue" xlink:href="tef-20221231.xsd#tef_CurrentFinancialLiabilitiesAtFairValue"/>
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    <link:label id="lab_tef_InflationRate_96628a42-565f-440d-ae06-c32133066e28_terseLabel_en-US" xlink:label="lab_tef_InflationRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inflation rate (as a percent)</link:label>
    <link:label id="lab_tef_InflationRate_label_en-US" xlink:label="lab_tef_InflationRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inflation Rate</link:label>
    <link:label id="lab_tef_InflationRate_documentation_en-US" xlink:label="lab_tef_InflationRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inflation Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_InflationRate" xlink:href="tef-20221231.xsd#tef_InflationRate"/>
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    <link:label id="lab_tef_CorporateInformationAndStatementOfIFRSComplianceAbstract_documentation_en-US" xlink:label="lab_tef_CorporateInformationAndStatementOfIFRSComplianceAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Basis Of Presentation Of The Consolidated Financial Statements [Abstract]</link:label>
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    <link:label id="lab_tef_Transfersandothersrightofuseassets_c8ea2b0f-f558-43a3-9296-8a98ccb9221d_terseLabel_en-US" xlink:label="lab_tef_Transfersandothersrightofuseassets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers and others</link:label>
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    <link:label id="lab_tef_Transfersandothersrightofuseassets_documentation_en-US" xlink:label="lab_tef_Transfersandothersrightofuseassets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers and others, right-of-use assets</link:label>
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    <link:label id="lab_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets_ae6488fb-8db1-4713-abf6-408e37f0281a_verboseLabel_en-US" xlink:label="lab_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial assets and other non-current assets</link:label>
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    <link:label id="lab_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets_documentation_en-US" xlink:label="lab_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-Current Financial Assets And Other Non-Current Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets" xlink:href="tef-20221231.xsd#tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets"/>
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    <link:label id="lab_tef_BondC10Member_04a0aa1f-a144-4c5f-8521-621355e21a60_terseLabel_en-US" xlink:label="lab_tef_BondC10Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond C10</link:label>
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    <link:label id="lab_tef_BondC10Member_documentation_en-US" xlink:label="lab_tef_BondC10Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond C10 [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondC10Member" xlink:to="lab_tef_BondC10Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CharacteristicsOfDefinedBenefitPlansMember_a727fb77-647a-4936-ac44-b22ea96ff762_terseLabel_en-US" xlink:label="lab_ifrs-full_CharacteristicsOfDefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Characteristics of defined benefit plans [member]</link:label>
    <link:label id="lab_ifrs-full_CharacteristicsOfDefinedBenefitPlansMember_label_en-US" xlink:label="lab_ifrs-full_CharacteristicsOfDefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Characteristics of defined benefit plans [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CharacteristicsOfDefinedBenefitPlansMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CharacteristicsOfDefinedBenefitPlansMember"/>
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    <link:label id="lab_tef_TreasuryShareTradingPrice_a13f2a7f-587f-4520-8953-4e7f62bf2199_terseLabel_en-US" xlink:label="lab_tef_TreasuryShareTradingPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trading price (EUR per share)</link:label>
    <link:label id="lab_tef_TreasuryShareTradingPrice_label_en-US" xlink:label="lab_tef_TreasuryShareTradingPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Share Trading Price</link:label>
    <link:label id="lab_tef_TreasuryShareTradingPrice_documentation_en-US" xlink:label="lab_tef_TreasuryShareTradingPrice" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Share Trading Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TreasuryShareTradingPrice" xlink:href="tef-20221231.xsd#tef_TreasuryShareTradingPrice"/>
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    <link:label id="lab_tef_CurrentIncomeTaxesReceivable_00dbd164-6677-410b-8385-dffecf92c804_terseLabel_en-US" xlink:label="lab_tef_CurrentIncomeTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current income taxes receivable</link:label>
    <link:label id="lab_tef_CurrentIncomeTaxesReceivable_label_en-US" xlink:label="lab_tef_CurrentIncomeTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Income Taxes Receivable</link:label>
    <link:label id="lab_tef_CurrentIncomeTaxesReceivable_documentation_en-US" xlink:label="lab_tef_CurrentIncomeTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Income Taxes Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentIncomeTaxesReceivable" xlink:href="tef-20221231.xsd#tef_CurrentIncomeTaxesReceivable"/>
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    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems_c98b30d7-8a5f-48c3-aa42-de7c747a829f_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of operating segments [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of operating segments [line items]</link:label>
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    <link:label id="lab_tef_OtherTaxesReceivable_7e2989ca-ebe6-4fc4-b82f-b7f7cc916243_terseLabel_en-US" xlink:label="lab_tef_OtherTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other</link:label>
    <link:label id="lab_tef_OtherTaxesReceivable_label_en-US" xlink:label="lab_tef_OtherTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Taxes Receivable</link:label>
    <link:label id="lab_tef_OtherTaxesReceivable_documentation_en-US" xlink:label="lab_tef_OtherTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Taxes Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherTaxesReceivable" xlink:href="tef-20221231.xsd#tef_OtherTaxesReceivable"/>
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    <link:label id="lab_ifrs-full_SegmentConsolidationItemsAxis_8e823388-9eda-4680-bd77-d1da0e5fbebf_terseLabel_en-US" xlink:label="lab_ifrs-full_SegmentConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segment consolidation items [axis]</link:label>
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    <link:label id="lab_tef_GiffgaffLtdMember_2cd4f6bc-57a4-47de-9c37-2695bcab3160_terseLabel_en-US" xlink:label="lab_tef_GiffgaffLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Giffgaff Ltd</link:label>
    <link:label id="lab_tef_GiffgaffLtdMember_label_en-US" xlink:label="lab_tef_GiffgaffLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Giffgaff Ltd [Member]</link:label>
    <link:label id="lab_tef_GiffgaffLtdMember_documentation_en-US" xlink:label="lab_tef_GiffgaffLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Giffgaff Ltd [Member]</link:label>
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    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis_70a08501-b26d-4d78-9be9-ddd0b015f7ca_terseLabel_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:label id="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis_label_en-US" xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis"/>
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    <link:label id="lab_tef_NumberOfPremisesPassed_6c95f955-270e-4bcd-b446-78c95b31e629_terseLabel_en-US" xlink:label="lab_tef_NumberOfPremisesPassed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of premises passed</link:label>
    <link:label id="lab_tef_NumberOfPremisesPassed_label_en-US" xlink:label="lab_tef_NumberOfPremisesPassed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Premises Passed</link:label>
    <link:label id="lab_tef_NumberOfPremisesPassed_documentation_en-US" xlink:label="lab_tef_NumberOfPremisesPassed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Premises Passed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfPremisesPassed" xlink:href="tef-20221231.xsd#tef_NumberOfPremisesPassed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfPremisesPassed" xlink:to="lab_tef_NumberOfPremisesPassed" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear_3f2237e1-dfc5-4b6f-bd89-cc4638e275ec_negatedTerseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease in net financial results from prior year</link:label>
    <link:label id="lab_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear_label_en-US" xlink:label="lab_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Finance Income (Cost) from Prior Year</link:label>
    <link:label id="lab_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Finance Income (Cost) from Prior Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear" xlink:to="lab_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DecreaseThroughDisposalsContractLiabilities_3275eccb-dff6-49d1-aeaf-5d3a5b08390b_negatedTerseLabel_en-US" xlink:label="lab_tef_DecreaseThroughDisposalsContractLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals (current year)</link:label>
    <link:label id="lab_tef_DecreaseThroughDisposalsContractLiabilities_label_en-US" xlink:label="lab_tef_DecreaseThroughDisposalsContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease Through Disposals, Contract Liabilities</link:label>
    <link:label id="lab_tef_DecreaseThroughDisposalsContractLiabilities_documentation_en-US" xlink:label="lab_tef_DecreaseThroughDisposalsContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease Through Disposals, Contract Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DecreaseThroughDisposalsContractLiabilities" xlink:href="tef-20221231.xsd#tef_DecreaseThroughDisposalsContractLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DecreaseThroughDisposalsContractLiabilities" xlink:to="lab_tef_DecreaseThroughDisposalsContractLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Solar360DeRepsolYMovistarSLMember_da917e44-2620-413c-a086-26108938fbd4_terseLabel_en-US" xlink:label="lab_tef_Solar360DeRepsolYMovistarSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Solar360 de Repsol y Movistar S.L.</link:label>
    <link:label id="lab_tef_Solar360DeRepsolYMovistarSLMember_label_en-US" xlink:label="lab_tef_Solar360DeRepsolYMovistarSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Solar360 de Repsol y Movistar S.L. [Member]</link:label>
    <link:label id="lab_tef_Solar360DeRepsolYMovistarSLMember_documentation_en-US" xlink:label="lab_tef_Solar360DeRepsolYMovistarSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Solar360 de Repsol y Movistar S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Solar360DeRepsolYMovistarSLMember" xlink:href="tef-20221231.xsd#tef_Solar360DeRepsolYMovistarSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Solar360DeRepsolYMovistarSLMember" xlink:to="lab_tef_Solar360DeRepsolYMovistarSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FinancingProceedsofFinancialInstruments_e0861133-44fc-43e9-ac42-eef1b52bfcde_negatedTerseLabel_en-US" xlink:label="lab_tef_FinancingProceedsofFinancialInstruments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing proceeds</link:label>
    <link:label id="lab_tef_FinancingProceedsofFinancialInstruments_label_en-US" xlink:label="lab_tef_FinancingProceedsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Proceeds of Financial Instruments</link:label>
    <link:label id="lab_tef_FinancingProceedsofFinancialInstruments_documentation_en-US" xlink:label="lab_tef_FinancingProceedsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Proceeds of Financial Instruments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FinancingProceedsofFinancialInstruments" xlink:href="tef-20221231.xsd#tef_FinancingProceedsofFinancialInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FinancingProceedsofFinancialInstruments" xlink:to="lab_tef_FinancingProceedsofFinancialInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LongtermContractsMember_0df6afa3-d503-4789-a523-f32ae9a8cbf4_terseLabel_en-US" xlink:label="lab_ifrs-full_LongtermContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term contracts</link:label>
    <link:label id="lab_ifrs-full_LongtermContractsMember_label_en-US" xlink:label="lab_ifrs-full_LongtermContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term contracts [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LongtermContractsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LongtermContractsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LongtermContractsMember" xlink:to="lab_ifrs-full_LongtermContractsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AnnualIndexRateUsed_96b24f43-5962-4d09-a438-4fd1ffb8eca6_terseLabel_en-US" xlink:label="lab_tef_AnnualIndexRateUsed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Annual index rate (as a percent)</link:label>
    <link:label id="lab_tef_AnnualIndexRateUsed_label_en-US" xlink:label="lab_tef_AnnualIndexRateUsed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Annual Index Rate Used</link:label>
    <link:label id="lab_tef_AnnualIndexRateUsed_documentation_en-US" xlink:label="lab_tef_AnnualIndexRateUsed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Annual Index Rate Used</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AnnualIndexRateUsed" xlink:href="tef-20221231.xsd#tef_AnnualIndexRateUsed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AnnualIndexRateUsed" xlink:to="lab_tef_AnnualIndexRateUsed" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities_094f5fd5-af24-46f7-9937-15e017f5ded8_terseLabel_en-US" xlink:label="lab_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from the sale in property, plant and equipment and intangible assets</link:label>
    <link:label id="lab_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities_label_en-US" xlink:label="lab_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds From Sales Of Property, Plant, And Equipment And Intangibles, Classified As Investing Activities</link:label>
    <link:label id="lab_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities_documentation_en-US" xlink:label="lab_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds From Sales Of Property, Plant, And Equipment And Intangibles, Classified As Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" xlink:href="tef-20221231.xsd#tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" xlink:to="lab_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HedgingInstrumentsBoughtMember_b5226681-d00a-4851-b119-df2a97235ce5_terseLabel_en-US" xlink:label="lab_tef_HedgingInstrumentsBoughtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bought</link:label>
    <link:label id="lab_tef_HedgingInstrumentsBoughtMember_label_en-US" xlink:label="lab_tef_HedgingInstrumentsBoughtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging Instruments Bought [Member]</link:label>
    <link:label id="lab_tef_HedgingInstrumentsBoughtMember_documentation_en-US" xlink:label="lab_tef_HedgingInstrumentsBoughtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging Instruments Bought [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_HedgingInstrumentsBoughtMember" xlink:href="tef-20221231.xsd#tef_HedgingInstrumentsBoughtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HedgingInstrumentsBoughtMember" xlink:to="lab_tef_HedgingInstrumentsBoughtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_WayraPeruAceleradoradeProyectosMember_54125b03-6eb1-4c8c-a9d4-5f352e517a43_terseLabel_en-US" xlink:label="lab_tef_WayraPeruAceleradoradeProyectosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wayra UK Ltd. Technological innovation based business project development</link:label>
    <link:label id="lab_tef_WayraPeruAceleradoradeProyectosMember_label_en-US" xlink:label="lab_tef_WayraPeruAceleradoradeProyectosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wayra Peru Aceleradora de Proyectos [Member]</link:label>
    <link:label id="lab_tef_WayraPeruAceleradoradeProyectosMember_documentation_en-US" xlink:label="lab_tef_WayraPeruAceleradoradeProyectosMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wayra Peru Aceleradora de Proyectos [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_WayraPeruAceleradoradeProyectosMember" xlink:href="tef-20221231.xsd#tef_WayraPeruAceleradoradeProyectosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_WayraPeruAceleradoradeProyectosMember" xlink:to="lab_tef_WayraPeruAceleradoradeProyectosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ColombiaTelecomunicacionesSAESPMember_45bca582-e59a-44f8-8864-5f3b6afa209e_terseLabel_en-US" xlink:label="lab_tef_ColombiaTelecomunicacionesSAESPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombia Telecomunicaciones S.A. E.S.P.</link:label>
    <link:label id="lab_tef_ColombiaTelecomunicacionesSAESPMember_label_en-US" xlink:label="lab_tef_ColombiaTelecomunicacionesSAESPMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombia Telecomunicaciones, S.A., E.S.P. [Member]</link:label>
    <link:label id="lab_tef_ColombiaTelecomunicacionesSAESPMember_documentation_en-US" xlink:label="lab_tef_ColombiaTelecomunicacionesSAESPMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombia Telecomunicaciones, S.A., ESP [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ColombiaTelecomunicacionesSAESPMember" xlink:href="tef-20221231.xsd#tef_ColombiaTelecomunicacionesSAESPMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ColombiaTelecomunicacionesSAESPMember" xlink:to="lab_tef_ColombiaTelecomunicacionesSAESPMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CategoriesOfRelatedPartiesAxis_a3eee1cf-4e00-4be9-b6e3-e4ba06e2e5ac_terseLabel_en-US" xlink:label="lab_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Categories of related parties [axis]</link:label>
    <link:label id="lab_ifrs-full_CategoriesOfRelatedPartiesAxis_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Categories of related parties [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="lab_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock_1a29a79f-a052-4ca6-8582-902f7fd46b10_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Operating Activities</link:label>
    <link:label id="lab_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock_label_en-US" xlink:label="lab_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Cash Flow Items, Operating Activities [Table Text Block]</link:label>
    <link:label id="lab_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock_documentation_en-US" xlink:label="lab_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Cash Flow Items, Operating Activities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock" xlink:to="lab_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember_ab62d6c9-dc83-46cc-a6a2-7d41cbe2c49c_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Germany And Group 3G UMTS Holding GmbH</link:label>
    <link:label id="lab_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember_label_en-US" xlink:label="lab_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Germany And Group 3G UMTS Holding GmbH [Member]</link:label>
    <link:label id="lab_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember_documentation_en-US" xlink:label="lab_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Germany And Group 3G UMTS Holding GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember" xlink:href="tef-20221231.xsd#tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember" xlink:to="lab_tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentReceivablesDueFromJointVentures_3df59ee4-14a2-488d-9bfe-459d4332b9e2_netLabel_en-US" xlink:label="lab_ifrs-full_CurrentReceivablesDueFromJointVentures" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables from associates and joint ventures for current operations</link:label>
    <link:label id="lab_ifrs-full_CurrentReceivablesDueFromJointVentures_dea0d86c-988a-47a0-8df0-c40ee48346bc_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentReceivablesDueFromJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables from associates and joint ventures (Note 14)</link:label>
    <link:label id="lab_ifrs-full_CurrentReceivablesDueFromJointVentures_76fb977a-d789-4ccd-ad3a-3236faaae5e9_verboseLabel_en-US" xlink:label="lab_ifrs-full_CurrentReceivablesDueFromJointVentures" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables from associates and joint ventures (Note 10)</link:label>
    <link:label id="lab_ifrs-full_CurrentReceivablesDueFromJointVentures_label_en-US" xlink:label="lab_ifrs-full_CurrentReceivablesDueFromJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current receivables due from joint ventures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentReceivablesDueFromJointVentures" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentReceivablesDueFromJointVentures"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentReceivablesDueFromJointVentures" xlink:to="lab_ifrs-full_CurrentReceivablesDueFromJointVentures" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CounterpartiesAxis_e319addc-6d3e-42b9-b20f-396a017c6849_terseLabel_en-US" xlink:label="lab_ifrs-full_CounterpartiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparties [axis]</link:label>
    <link:label id="lab_ifrs-full_CounterpartiesAxis_label_en-US" xlink:label="lab_ifrs-full_CounterpartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparties [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CounterpartiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CounterpartiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CounterpartiesAxis" xlink:to="lab_ifrs-full_CounterpartiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BuendiaEstudiosDosSLUMember_cfb9fb02-e296-4712-91e7-8c09a3b268b4_terseLabel_en-US" xlink:label="lab_tef_BuendiaEstudiosDosSLUMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buendia Estudios Dos, S.L.U.</link:label>
    <link:label id="lab_tef_BuendiaEstudiosDosSLUMember_label_en-US" xlink:label="lab_tef_BuendiaEstudiosDosSLUMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buendia Estudios Dos, S.L.U. [Member]</link:label>
    <link:label id="lab_tef_BuendiaEstudiosDosSLUMember_documentation_en-US" xlink:label="lab_tef_BuendiaEstudiosDosSLUMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buendia Estudios Dos, S.L.U.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BuendiaEstudiosDosSLUMember" xlink:href="tef-20221231.xsd#tef_BuendiaEstudiosDosSLUMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BuendiaEstudiosDosSLUMember" xlink:to="lab_tef_BuendiaEstudiosDosSLUMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock_b9e1aba4-c94d-405d-bc00-67b011208f33_terseLabel_en-US" xlink:label="lab_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Gross Cost, Accumulated Depreciation and Impairment Losses of Rights of Use</link:label>
    <link:label id="lab_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock_label_en-US" xlink:label="lab_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Gross Cost, Accumulated Depreciation and Impairment Losses of Right of Use Assets [Table Text Block]</link:label>
    <link:label id="lab_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock_documentation_en-US" xlink:label="lab_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Gross Cost, Accumulated Depreciation and Impairment Losses of Right of Use Assets [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock" xlink:href="tef-20221231.xsd#tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock" xlink:to="lab_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TreasurySharesOtherIncreaseDecrease_5e1c412f-0aa3-4f86-b16e-dfd7f2268c13_verboseLabel_en-US" xlink:label="lab_tef_TreasurySharesOtherIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury shares, other increase (decrease)</link:label>
    <link:label id="lab_tef_TreasurySharesOtherIncreaseDecrease_label_en-US" xlink:label="lab_tef_TreasurySharesOtherIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares, Other Increase (Decrease)</link:label>
    <link:label id="lab_tef_TreasurySharesOtherIncreaseDecrease_documentation_en-US" xlink:label="lab_tef_TreasurySharesOtherIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares, Other Increase (Decrease)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TreasurySharesOtherIncreaseDecrease" xlink:href="tef-20221231.xsd#tef_TreasurySharesOtherIncreaseDecrease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TreasurySharesOtherIncreaseDecrease" xlink:to="lab_tef_TreasurySharesOtherIncreaseDecrease" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax_8b537e07-c109-4ed6-8b26-4bed20ca9a19_terseLabel_en-US" xlink:label="lab_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Before-tax discount rates applied to cash flow projections (as a percent)</link:label>
    <link:label id="lab_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax_label_en-US" xlink:label="lab_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discount Rate Applied To Cash Flow Projections, Before Tax</link:label>
    <link:label id="lab_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax_documentation_en-US" xlink:label="lab_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discount Rate Applied To Cash Flow Projections, Before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax" xlink:href="tef-20221231.xsd#tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax" xlink:to="lab_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PrincipalPaymentsonLeases_ada0c8d9-4c0e-45df-bdd4-40fc4f12e346_negatedLabel_en-US" xlink:label="lab_tef_PrincipalPaymentsonLeases" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal payments (Note 28)</link:label>
    <link:label id="lab_tef_PrincipalPaymentsonLeases_label_en-US" xlink:label="lab_tef_PrincipalPaymentsonLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal Payments on Leases</link:label>
    <link:label id="lab_tef_PrincipalPaymentsonLeases_documentation_en-US" xlink:label="lab_tef_PrincipalPaymentsonLeases" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal Payments on Leases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PrincipalPaymentsonLeases" xlink:href="tef-20221231.xsd#tef_PrincipalPaymentsonLeases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PrincipalPaymentsonLeases" xlink:to="lab_tef_PrincipalPaymentsonLeases" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DividendsPaidByTelefonicaS.A.Member_2556d862-9404-4c68-b2ed-b68058dea0b7_terseLabel_en-US" xlink:label="lab_tef_DividendsPaidByTelefonicaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends paid by Telefonica, S.A.</link:label>
    <link:label id="lab_tef_DividendsPaidByTelefonicaS.A.Member_label_en-US" xlink:label="lab_tef_DividendsPaidByTelefonicaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends Paid By Telefonica, S.A. [Member]</link:label>
    <link:label id="lab_tef_DividendsPaidByTelefonicaS.A.Member_documentation_en-US" xlink:label="lab_tef_DividendsPaidByTelefonicaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends Paid By Telefonica, S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DividendsPaidByTelefonicaS.A.Member" xlink:href="tef-20221231.xsd#tef_DividendsPaidByTelefonicaS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DividendsPaidByTelefonicaS.A.Member" xlink:to="lab_tef_DividendsPaidByTelefonicaS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherTaxesPayable_8fd24288-b78f-4e70-ac3a-e737f025b1d8_terseLabel_en-US" xlink:label="lab_tef_OtherTaxesPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other</link:label>
    <link:label id="lab_tef_OtherTaxesPayable_label_en-US" xlink:label="lab_tef_OtherTaxesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Taxes Payable</link:label>
    <link:label id="lab_tef_OtherTaxesPayable_documentation_en-US" xlink:label="lab_tef_OtherTaxesPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Taxes Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherTaxesPayable" xlink:href="tef-20221231.xsd#tef_OtherTaxesPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherTaxesPayable" xlink:to="lab_tef_OtherTaxesPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherProductsAndServicesAndEliminationsMember_c09d5fb0-45d8-4fe3-84b1-08bdb4858c96_terseLabel_en-US" xlink:label="lab_tef_OtherProductsAndServicesAndEliminationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others and elims.</link:label>
    <link:label id="lab_tef_OtherProductsAndServicesAndEliminationsMember_label_en-US" xlink:label="lab_tef_OtherProductsAndServicesAndEliminationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Products And Services And Eliminations [Member]</link:label>
    <link:label id="lab_tef_OtherProductsAndServicesAndEliminationsMember_documentation_en-US" xlink:label="lab_tef_OtherProductsAndServicesAndEliminationsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Products And Services And Eliminations [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherProductsAndServicesAndEliminationsMember" xlink:href="tef-20221231.xsd#tef_OtherProductsAndServicesAndEliminationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherProductsAndServicesAndEliminationsMember" xlink:to="lab_tef_OtherProductsAndServicesAndEliminationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsAmountofSymmetricTerminationRate_686879ab-cb8b-4e00-9c16-3c69507403b9_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsAmountofSymmetricTerminationRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Symmetric termination rate (COP)</link:label>
    <link:label id="lab_tef_RegulatoryOperationsAmountofSymmetricTerminationRate_label_en-US" xlink:label="lab_tef_RegulatoryOperationsAmountofSymmetricTerminationRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Amount of Symmetric Termination Rate</link:label>
    <link:label id="lab_tef_RegulatoryOperationsAmountofSymmetricTerminationRate_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsAmountofSymmetricTerminationRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Amount of Symmetric Termination Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsAmountofSymmetricTerminationRate" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsAmountofSymmetricTerminationRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsAmountofSymmetricTerminationRate" xlink:to="lab_tef_RegulatoryOperationsAmountofSymmetricTerminationRate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProprietaryOfficerMember_dfb6aab5-e9a8-4bc6-95ab-88c9b10afeaf_terseLabel_en-US" xlink:label="lab_tef_ProprietaryOfficerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proprietary Member</link:label>
    <link:label id="lab_tef_ProprietaryOfficerMember_label_en-US" xlink:label="lab_tef_ProprietaryOfficerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proprietary Officer [Member]</link:label>
    <link:label id="lab_tef_ProprietaryOfficerMember_documentation_en-US" xlink:label="lab_tef_ProprietaryOfficerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proprietary Officer [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProprietaryOfficerMember" xlink:href="tef-20221231.xsd#tef_ProprietaryOfficerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProprietaryOfficerMember" xlink:to="lab_tef_ProprietaryOfficerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_5c6e0246-271d-4e20-994c-2dba4e6cc025_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl"/>
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    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis_5fc4f73f-a5e9-49ab-92d9-aaa2e4c01002_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Classes of financial liabilities [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Classes of financial liabilities [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:to="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_893ff5ca-eff2-44fb-9c86-e3b4937c935b_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaGermanyMember_c4be8354-5ba4-46c5-87ff-62aabd0e9f5f_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGermanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Germany</link:label>
    <link:label id="lab_tef_TelefonicaGermanyMember_c2c64428-91a4-4603-a428-8c1ee7b654f1_verboseLabel_en-US" xlink:label="lab_tef_TelefonicaGermanyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Germany</link:label>
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    <link:label id="lab_tef_EuropeanCouncilRecoveryAndResilienceMechanismPercentageDevotedToDigitalization_65a2133a-e1e8-4c6a-8acd-799d39cb2938_terseLabel_en-US" xlink:label="lab_tef_EuropeanCouncilRecoveryAndResilienceMechanismPercentageDevotedToDigitalization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">European Council, Recovery And Resilience Mechanism, percentage of funds devoted to digitalization</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfFinancialAssetsExplanatory_e3fa54c8-e5d5-4710-aeb7-fcc2dccd21a9_netLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialAssetsExplanatory" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial Assets and Other Non-current Assets</link:label>
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    <link:label id="lab_ifrs-full_CarryingAmountMember_15f3769b-0d6c-41c8-b63f-0bae2a881836_verboseLabel_en-US" xlink:label="lab_ifrs-full_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PP&amp;E</link:label>
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    <link:label id="lab_ifrs-full_PaymentsOfOtherEquityInstruments_57d232dd-5d25-45d5-9d5d-ef8418b02bba_negatedLabel_en-US" xlink:label="lab_ifrs-full_PaymentsOfOtherEquityInstruments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments for equity</link:label>
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    <link:label id="lab_tef_TelefonicaLuxembourgHoldingMember_a5a26de5-431a-4154-9d9b-e1cd603f1957_terseLabel_en-US" xlink:label="lab_tef_TelefonicaLuxembourgHoldingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fonditel Gesti&#243;n, Soc. Gestora de Instituciones de Inversi&#243;n Colectiva, S.A. Administration and representation of collective investment schemes</link:label>
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    <link:label id="lab_ifrs-full_CurrentAdvances_dfa0e557-8e79-454a-b5b4-5f76771dae19_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentAdvances" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Advances received</link:label>
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    <link:label id="lab_tef_FonditelPensionesEntidadGestoradeFondosdePensionesMember_efbe32cf-58b3-492f-ba66-8a173015e61d_terseLabel_en-US" xlink:label="lab_tef_FonditelPensionesEntidadGestoradeFondosdePensionesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Capital, S.A.U. Finance company</link:label>
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    <link:label id="lab_tef_ConsiderationToBeTransferredPurchaseOfAssets_4c8e99f5-cdd1-4a57-ac93-486e4e6b3232_terseLabel_en-US" xlink:label="lab_tef_ConsiderationToBeTransferredPurchaseOfAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration to be transferred, purchase of assets</link:label>
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    <link:label id="lab_tef_CurrentTaxWithholdings_df3f8d34-fd41-4c7c-a968-21c48a7cbaab_terseLabel_en-US" xlink:label="lab_tef_CurrentTaxWithholdings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax withholdings</link:label>
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    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings_b0d4b4d0-aaa9-4096-8e9c-62325deee3b6_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase through appropriation of retained earnings</link:label>
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    <link:label id="lab_ifrs-full_NoncontrollingInterests_21fe9934-e66f-4280-82f6-35a3b7965ca1_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity attributable to non-controlling interests</link:label>
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    <link:label id="lab_ifrs-full_NoncontrollingInterests_label_en-US" xlink:label="lab_ifrs-full_NoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-controlling interests</link:label>
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    <link:label id="lab_tef_CommitmentsLineItems_34e5f6f4-f394-4caf-9f63-364cfe642b70_terseLabel_en-US" xlink:label="lab_tef_CommitmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitments [Line Items]</link:label>
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    <link:label id="lab_tef_CommitmentsLineItems_documentation_en-US" xlink:label="lab_tef_CommitmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitments [Line Items]</link:label>
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    <link:label id="lab_tef_BusinessPlanCashFlowTerm_8b7206d6-7bbd-4382-82be-488c664dc538_terseLabel_en-US" xlink:label="lab_tef_BusinessPlanCashFlowTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business plan, cash flow, term</link:label>
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    <link:label id="lab_tef_BusinessPlanCashFlowTerm_documentation_en-US" xlink:label="lab_tef_BusinessPlanCashFlowTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Plan, Cash Flow, Term</link:label>
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    <link:label id="lab_tef_Expiringin2030Option3Member_caea6351-43de-482a-97a9-df499b0ccbd3_terseLabel_en-US" xlink:label="lab_tef_Expiringin2030Option3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 3</link:label>
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    <link:label id="lab_tef_DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption_68523d5c-42e4-4309-9f22-fe25616cacf6_negatedTerseLabel_en-US" xlink:label="lab_tef_DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impact on income statement</link:label>
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    <link:label id="lab_tef_DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption_documentation_en-US" xlink:label="lab_tef_DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease In Income Due To Reasonably Possible Increase In Actuarial Assumption</link:label>
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    <link:label id="lab_tef_InventoriesOwnContentMaximumProductionCyclePeriod_527cdbab-0144-4bbd-848d-c78cb4f30dce_terseLabel_en-US" xlink:label="lab_tef_InventoriesOwnContentMaximumProductionCyclePeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Own content, maximum production cycle period</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_InventoriesOwnContentMaximumProductionCyclePeriod" xlink:href="tef-20221231.xsd#tef_InventoriesOwnContentMaximumProductionCyclePeriod"/>
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    <link:label id="lab_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences_d0c970a8-c1fe-46d4-a4b1-3708a15cfd07_terseLabel_en-US" xlink:label="lab_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total translation differences</link:label>
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    <link:label id="lab_ifrs-full_DisposalsIntangibleAssetsAndGoodwill_ab244705-879d-4360-b479-5956a1484b8a_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals</link:label>
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    <link:label id="lab_ifrs-full_DisposalsIntangibleAssetsAndGoodwill_label_en-US" xlink:label="lab_ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals, intangible assets and goodwill</link:label>
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    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_a097ccbd-5d28-43e6-b188-330dfce7c5ee_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total other comprehensive income (loss) recognized for the year that will not be reclassified subsequently to profit or loss</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
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    <link:label id="lab_tef_Commercialpapersissuable_31a30b40-a4d3-4333-a87f-f882d567c90b_terseLabel_en-US" xlink:label="lab_tef_Commercialpapersissuable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commercial papers issuable</link:label>
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    <link:label id="lab_tef_Commercialpapersissuable_documentation_en-US" xlink:label="lab_tef_Commercialpapersissuable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commercial papers issuable</link:label>
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    <link:label id="lab_tef_LatinAmericanCurrenciesVs.EURMember_aee84a06-40d5-41e8-ad98-f098647c5bb7_terseLabel_en-US" xlink:label="lab_tef_LatinAmericanCurrenciesVs.EURMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Latin American currencies vs USD</link:label>
    <link:label id="lab_tef_LatinAmericanCurrenciesVs.EURMember_label_en-US" xlink:label="lab_tef_LatinAmericanCurrenciesVs.EURMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Latin American Currencies Vs. EUR [Member]</link:label>
    <link:label id="lab_tef_LatinAmericanCurrenciesVs.EURMember_documentation_en-US" xlink:label="lab_tef_LatinAmericanCurrenciesVs.EURMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Latin American Currencies Vs. EUR [Member]</link:label>
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    <link:label id="lab_tef_Costofhedginginequity_cc6b0f0e-8fe1-4158-aae7-99711d657671_periodStartLabel_en-US" xlink:label="lab_tef_Costofhedginginequity" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance of cost of hedging in equity at beginning of period</link:label>
    <link:label id="lab_tef_Costofhedginginequity_2a21682b-240d-4433-b55f-23622f760ea2_periodEndLabel_en-US" xlink:label="lab_tef_Costofhedginginequity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance of cost of hedging in equity at end of period</link:label>
    <link:label id="lab_tef_Costofhedginginequity_label_en-US" xlink:label="lab_tef_Costofhedginginequity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of hedging in equity</link:label>
    <link:label id="lab_tef_Costofhedginginequity_documentation_en-US" xlink:label="lab_tef_Costofhedginginequity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of hedging in equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Costofhedginginequity" xlink:href="tef-20221231.xsd#tef_Costofhedginginequity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Costofhedginginequity" xlink:to="lab_tef_Costofhedginginequity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_be46440e-e708-4e9f-9547-9f04b35b1cbe_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">(Losses) gains from financial assets measured at fair value through comprehensive income, net of tax</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other comprehensive income, net of tax, gains (losses) on revaluation of property, plant and equipment, right-of-use assets and intangible assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedImpairmentMember_db3e1077-96d6-4eae-9a6f-4ef10251db91_terseLabel_en-US" xlink:label="lab_ifrs-full_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment losses</link:label>
    <link:label id="lab_ifrs-full_AccumulatedImpairmentMember_label_en-US" xlink:label="lab_ifrs-full_AccumulatedImpairmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accumulated impairment [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedImpairmentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AccumulatedImpairmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedImpairmentMember" xlink:to="lab_ifrs-full_AccumulatedImpairmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax_5e7f7192-9fd1-4c29-b36e-1bd455c9857d_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) from financial assets measured at Fair value through other comprehensive income</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax_label_en-US" xlink:label="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on remeasuring available-for-sale financial assets, before tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:to="lab_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ExpiringIn2030Option6Member_a09b7502-e032-4568-ada9-195de01b6ea1_terseLabel_en-US" xlink:label="lab_tef_ExpiringIn2030Option6Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 6</link:label>
    <link:label id="lab_tef_ExpiringIn2030Option6Member_label_en-US" xlink:label="lab_tef_ExpiringIn2030Option6Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 6 [Member]</link:label>
    <link:label id="lab_tef_ExpiringIn2030Option6Member_documentation_en-US" xlink:label="lab_tef_ExpiringIn2030Option6Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 6</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ExpiringIn2030Option6Member" xlink:href="tef-20221231.xsd#tef_ExpiringIn2030Option6Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ExpiringIn2030Option6Member" xlink:to="lab_tef_ExpiringIn2030Option6Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture_e36c2d8f-c64a-40f3-af46-aa7ea99feb43_terseLabel_en-US" xlink:label="lab_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other comprehensive income of joint venture (in percent)</link:label>
    <link:label id="lab_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture_label_en-US" xlink:label="lab_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Other Comprehensive Income Of Joint Venture</link:label>
    <link:label id="lab_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture_documentation_en-US" xlink:label="lab_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Other Comprehensive Income Of Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture" xlink:href="tef-20221231.xsd#tef_PercentageOfOtherComprehensiveIncomeOfJointVenture"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture" xlink:to="lab_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondT.Peru4thProgram19thSeriesAMember_eca38ed0-850f-44a6-a573-b33e22a82bc4_terseLabel_en-US" xlink:label="lab_tef_BondT.Peru4thProgram19thSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 4th Program (19th Serie A)</link:label>
    <link:label id="lab_tef_BondT.Peru4thProgram19thSeriesAMember_label_en-US" xlink:label="lab_tef_BondT.Peru4thProgram19thSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 4th Program (19th Series A) [Member]</link:label>
    <link:label id="lab_tef_BondT.Peru4thProgram19thSeriesAMember_documentation_en-US" xlink:label="lab_tef_BondT.Peru4thProgram19thSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 4th Program (19th Series A) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondT.Peru4thProgram19thSeriesAMember" xlink:href="tef-20221231.xsd#tef_BondT.Peru4thProgram19thSeriesAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondT.Peru4thProgram19thSeriesAMember" xlink:to="lab_tef_BondT.Peru4thProgram19thSeriesAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaHoldingAtticusMember_a76b646d-b9d2-491c-8ede-8b5cbc8d61df_terseLabel_en-US" xlink:label="lab_tef_TelefonicaHoldingAtticusMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Holding Atticus, B.V.</link:label>
    <link:label id="lab_tef_TelefonicaHoldingAtticusMember_label_en-US" xlink:label="lab_tef_TelefonicaHoldingAtticusMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Holding Atticus [Member]</link:label>
    <link:label id="lab_tef_TelefonicaHoldingAtticusMember_documentation_en-US" xlink:label="lab_tef_TelefonicaHoldingAtticusMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Holding Atticus [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaHoldingAtticusMember" xlink:href="tef-20221231.xsd#tef_TelefonicaHoldingAtticusMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaHoldingAtticusMember" xlink:to="lab_tef_TelefonicaHoldingAtticusMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OperatingExpense_e1598391-ff62-4088-a56d-895c7a6ab87f_terseLabel_en-US" xlink:label="lab_ifrs-full_OperatingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expenses from operations with associates and joint ventures</link:label>
    <link:label id="lab_ifrs-full_OperatingExpense_label_en-US" xlink:label="lab_ifrs-full_OperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OperatingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OperatingExpense"/>
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    <link:label id="lab_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences_dbbc57b1-5e41-4b0a-a1a9-aa68af218a13_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase/(decrease) in tax expense arising from temporary differences</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences_label_en-US" xlink:label="lab_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) In Tax Expense Due To Temporary Differences</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) In Tax Expense Due To Temporary Differences</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" xlink:to="lab_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PwCAuditoresS.L.Member_bb440151-098e-4c25-a94c-0cffe3be85fd_terseLabel_en-US" xlink:label="lab_tef_PwCAuditoresS.L.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PwC Auditores, S.L.</link:label>
    <link:label id="lab_tef_PwCAuditoresS.L.Member_label_en-US" xlink:label="lab_tef_PwCAuditoresS.L.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PwC Auditores, S.L. [Member]</link:label>
    <link:label id="lab_tef_PwCAuditoresS.L.Member_documentation_en-US" xlink:label="lab_tef_PwCAuditoresS.L.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PwC Auditores, S.L. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PwCAuditoresS.L.Member" xlink:href="tef-20221231.xsd#tef_PwCAuditoresS.L.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PwCAuditoresS.L.Member" xlink:to="lab_tef_PwCAuditoresS.L.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember_b298c089-47a7-4714-bdf2-df8b551f6f11_terseLabel_en-US" xlink:label="lab_tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses</link:label>
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    <link:label id="lab_tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember_documentation_en-US" xlink:label="lab_tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedged Items that have Ceased to be Adjusted for Gains and Losses [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember" xlink:to="lab_tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherFinancialAssetsMember_68444edd-583e-4b52-868d-d7ba58f021fa_terseLabel_en-US" xlink:label="lab_tef_OtherFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other financial assets</link:label>
    <link:label id="lab_tef_OtherFinancialAssetsMember_label_en-US" xlink:label="lab_tef_OtherFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Financial Assets [Member]</link:label>
    <link:label id="lab_tef_OtherFinancialAssetsMember_documentation_en-US" xlink:label="lab_tef_OtherFinancialAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Financial Assets [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherFinancialAssetsMember" xlink:href="tef-20221231.xsd#tef_OtherFinancialAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherFinancialAssetsMember" xlink:to="lab_tef_OtherFinancialAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract_914f4102-6329-4ed9-baa8-6deabf8c1768_terseLabel_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reconciliation of changes in intangible assets other than goodwill [abstract]</link:label>
    <link:label id="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract_label_en-US" xlink:label="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reconciliation of changes in intangible assets other than goodwill [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:to="lab_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss_31939290-a1c0-44b6-a863-2e7badac387e_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Changes in fair value of liability derivatives at fair value through profit or loss</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss_label_en-US" xlink:label="lab_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on financial liabilities at fair value through profit or loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="lab_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems_ed63a6e1-12f7-4b12-8189-00107461fdfa_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about service concession arrangements [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about service concession arrangements [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems" xlink:to="lab_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfTreasuryShares_db3744a8-1858-4ea0-9a66-b74c1e2a3cd9_terseLabel_en-US" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase of treasury shares</link:label>
    <link:label id="lab_ifrs-full_PurchaseOfTreasuryShares_label_en-US" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase of treasury shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfTreasuryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfTreasuryShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfTreasuryShares" xlink:to="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_be0c1a9b-dc1b-4b70-a226-1de258364cce_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of transactions between related parties [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of transactions between related parties [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TreasurySharesAsAPercentofTotalShares_92bcb079-3212-42d2-bf2a-2fcf608dad07_terseLabel_en-US" xlink:label="lab_tef_TreasurySharesAsAPercentofTotalShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of total shares classified as treasury shares (as a percent)</link:label>
    <link:label id="lab_tef_TreasurySharesAsAPercentofTotalShares_label_en-US" xlink:label="lab_tef_TreasurySharesAsAPercentofTotalShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares As A Percent of Total Shares</link:label>
    <link:label id="lab_tef_TreasurySharesAsAPercentofTotalShares_documentation_en-US" xlink:label="lab_tef_TreasurySharesAsAPercentofTotalShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares As A Percent of Total Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TreasurySharesAsAPercentofTotalShares" xlink:href="tef-20221231.xsd#tef_TreasurySharesAsAPercentofTotalShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TreasurySharesAsAPercentofTotalShares" xlink:to="lab_tef_TreasurySharesAsAPercentofTotalShares" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DefinedBenefitPlanTypeDomain_1da216b4-6e82-4e08-a032-f5e947007f2a_terseLabel_en-US" xlink:label="lab_tef_DefinedBenefitPlanTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Defined Benefit Plan Type [Domain]</link:label>
    <link:label id="lab_tef_DefinedBenefitPlanTypeDomain_label_en-US" xlink:label="lab_tef_DefinedBenefitPlanTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Defined Benefit Plan Type [Domain]</link:label>
    <link:label id="lab_tef_DefinedBenefitPlanTypeDomain_documentation_en-US" xlink:label="lab_tef_DefinedBenefitPlanTypeDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Domain] for Defined Benefit Plan Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DefinedBenefitPlanTypeDomain" xlink:href="tef-20221231.xsd#tef_DefinedBenefitPlanTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DefinedBenefitPlanTypeDomain" xlink:to="lab_tef_DefinedBenefitPlanTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SubsidiariesMember_e44bd602-a55e-4592-a438-e2cc71eda9eb_terseLabel_en-US" xlink:label="lab_srt_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiaries</link:label>
    <link:label id="lab_srt_SubsidiariesMember_label_en-US" xlink:label="lab_srt_SubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiaries [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SubsidiariesMember" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_SubsidiariesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SubsidiariesMember" xlink:to="lab_srt_SubsidiariesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BETernaAustriaGmbHMember_8c94b8da-71ec-4729-9517-e90c32230aab_terseLabel_en-US" xlink:label="lab_tef_BETernaAustriaGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Austria GmbH</link:label>
    <link:label id="lab_tef_BETernaAustriaGmbHMember_label_en-US" xlink:label="lab_tef_BETernaAustriaGmbHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Austria GmbH [Member]</link:label>
    <link:label id="lab_tef_BETernaAustriaGmbHMember_documentation_en-US" xlink:label="lab_tef_BETernaAustriaGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Austria GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaAustriaGmbHMember" xlink:href="tef-20221231.xsd#tef_BETernaAustriaGmbHMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BETernaAustriaGmbHMember" xlink:to="lab_tef_BETernaAustriaGmbHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_fec2508a-ac42-46a7-b6c0-855cb9ce9656_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of terms and conditions of share-based payment arrangement [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of terms and conditions of share-based payment arrangement [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="lab_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CapitalRedemptionReserveRecorded_d6d5384c-12a8-4f3c-8de0-f01d567bdbbe_terseLabel_en-US" xlink:label="lab_tef_CapitalRedemptionReserveRecorded" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital redemption reserve recorded</link:label>
    <link:label id="lab_tef_CapitalRedemptionReserveRecorded_label_en-US" xlink:label="lab_tef_CapitalRedemptionReserveRecorded" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital redemption reserve recorded</link:label>
    <link:label id="lab_tef_CapitalRedemptionReserveRecorded_documentation_en-US" xlink:label="lab_tef_CapitalRedemptionReserveRecorded" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital redemption reserve recorded</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CapitalRedemptionReserveRecorded" xlink:href="tef-20221231.xsd#tef_CapitalRedemptionReserveRecorded"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CapitalRedemptionReserveRecorded" xlink:to="lab_tef_CapitalRedemptionReserveRecorded" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_O2HoldingsLtdMember_658d2955-d28a-46bf-8e7a-8708910b1c7d_terseLabel_en-US" xlink:label="lab_tef_O2HoldingsLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Holdings Ltd</link:label>
    <link:label id="lab_tef_O2HoldingsLtdMember_label_en-US" xlink:label="lab_tef_O2HoldingsLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Holdings Ltd [Member]</link:label>
    <link:label id="lab_tef_O2HoldingsLtdMember_documentation_en-US" xlink:label="lab_tef_O2HoldingsLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Holdings Ltd</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_O2HoldingsLtdMember" xlink:href="tef-20221231.xsd#tef_O2HoldingsLtdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_O2HoldingsLtdMember" xlink:to="lab_tef_O2HoldingsLtdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_da8f95f5-a1f9-4316-94e1-1973013ba3fa_terseLabel_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and cash equivalents recognised as of acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:to="lab_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade and other payables recognised as of acquisition date</link:label>
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    <link:label id="lab_ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_cf6440a7-bf7d-4688-86b9-222f4569cd1e_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2024</link:label>
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    <link:label id="lab_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_ada504eb-c0cc-4a88-aa68-7bcc04fcee18_terseLabel_en-US" xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease agreements</link:label>
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    <link:label id="lab_tef_HoldCoInfraCoSpAMember_b2f90496-e60b-464c-8c36-87b5f0f1d0a8_terseLabel_en-US" xlink:label="lab_tef_HoldCoInfraCoSpAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">HoldCo infraCo SpA</link:label>
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    <link:label id="lab_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Transfers, Allowance Account for Credit Losses of Financial Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets" xlink:to="lab_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ReceiptsFromOperations_a4286c65-2f8f-477d-af0a-f88507cd5735_terseLabel_en-US" xlink:label="lab_tef_ReceiptsFromOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash received from operations</link:label>
    <link:label id="lab_tef_ReceiptsFromOperations_label_en-US" xlink:label="lab_tef_ReceiptsFromOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receipts From Operations</link:label>
    <link:label id="lab_tef_ReceiptsFromOperations_documentation_en-US" xlink:label="lab_tef_ReceiptsFromOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receipts From Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReceiptsFromOperations" xlink:href="tef-20221231.xsd#tef_ReceiptsFromOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ReceiptsFromOperations" xlink:to="lab_tef_ReceiptsFromOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2022Option2Member_0aa77f08-cc9f-4e55-b6fc-d183447dd398_terseLabel_en-US" xlink:label="lab_tef_Expiringin2022Option2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022, Option 2</link:label>
    <link:label id="lab_tef_Expiringin2022Option2Member_label_en-US" xlink:label="lab_tef_Expiringin2022Option2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022, Option 2 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2022Option2Member_documentation_en-US" xlink:label="lab_tef_Expiringin2022Option2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022, Option 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2022Option2Member" xlink:href="tef-20221231.xsd#tef_Expiringin2022Option2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2022Option2Member" xlink:to="lab_tef_Expiringin2022Option2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember_1c8de9cb-ad66-4f57-9466-7282b47a9dc3_terseLabel_en-US" xlink:label="lab_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Garliava RJ Infraestrutura E Redes De Telecomunicacoes S.A. Wireline Telephony Operator</link:label>
    <link:label id="lab_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember_label_en-US" xlink:label="lab_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Garliava RJ Infraestrutura E Redes De Telecomunicacoes S.A. [Member]</link:label>
    <link:label id="lab_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember_documentation_en-US" xlink:label="lab_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Garliava RJ Infraestrutura E Redes De Telecomunicacoes S.A.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember" xlink:href="tef-20221231.xsd#tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember" xlink:to="lab_tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AllCurrenciesVs.EURMember_75841719-7403-4ce2-9ed4-109fad28045c_terseLabel_en-US" xlink:label="lab_tef_AllCurrenciesVs.EURMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">All currencies vs EUR</link:label>
    <link:label id="lab_tef_AllCurrenciesVs.EURMember_label_en-US" xlink:label="lab_tef_AllCurrenciesVs.EURMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">All Currencies Vs. EUR [Member]</link:label>
    <link:label id="lab_tef_AllCurrenciesVs.EURMember_documentation_en-US" xlink:label="lab_tef_AllCurrenciesVs.EURMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">All Currencies Vs. EUR [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AllCurrenciesVs.EURMember" xlink:href="tef-20221231.xsd#tef_AllCurrenciesVs.EURMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AllCurrenciesVs.EURMember" xlink:to="lab_tef_AllCurrenciesVs.EURMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_7e0aa4de-60ee-4437-b9bc-fb9017e1ce03_terseLabel_en-US" xlink:label="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-term variable compensation</link:label>
    <link:label id="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_label_en-US" xlink:label="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key management personnel compensation, short-term employee benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment_3d9de3ae-39bc-46f4-ac72-cfc47c889dcb_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impair-ments</link:label>
    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment_77046c2a-1c7f-4179-90ef-7c7c6ecfad84_terseLabel_en-US" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment loss recognised in other comprehensive income, property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment loss recognised in other comprehensive income, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" xlink:to="lab_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfContractsAxis_1083e8ac-5516-4508-8280-53baa969cc87_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfContractsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of contracts [axis]</link:label>
    <link:label id="lab_ifrs-full_TypesOfContractsAxis_label_en-US" xlink:label="lab_ifrs-full_TypesOfContractsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of contracts [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfContractsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TypesOfContractsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfContractsAxis" xlink:to="lab_ifrs-full_TypesOfContractsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherCommittedPaymentMember_e4756cab-5f79-40b8-8c33-25b5e1c0a7aa_terseLabel_en-US" xlink:label="lab_tef_OtherCommittedPaymentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Committed Payment</link:label>
    <link:label id="lab_tef_OtherCommittedPaymentMember_label_en-US" xlink:label="lab_tef_OtherCommittedPaymentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Committed Payment [Member]</link:label>
    <link:label id="lab_tef_OtherCommittedPaymentMember_documentation_en-US" xlink:label="lab_tef_OtherCommittedPaymentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Committed Payment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherCommittedPaymentMember" xlink:href="tef-20221231.xsd#tef_OtherCommittedPaymentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherCommittedPaymentMember" xlink:to="lab_tef_OtherCommittedPaymentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BorrowingsAverageInterestRate_ed7e09c4-5ee3-4241-bd1b-79b6b7cd375b_terseLabel_en-US" xlink:label="lab_tef_BorrowingsAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Average interest rate (as a percent)</link:label>
    <link:label id="lab_tef_BorrowingsAverageInterestRate_label_en-US" xlink:label="lab_tef_BorrowingsAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings, Average Interest Rate</link:label>
    <link:label id="lab_tef_BorrowingsAverageInterestRate_documentation_en-US" xlink:label="lab_tef_BorrowingsAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings, Average Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BorrowingsAverageInterestRate" xlink:href="tef-20221231.xsd#tef_BorrowingsAverageInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BorrowingsAverageInterestRate" xlink:to="lab_tef_BorrowingsAverageInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisposalGroupNameDomain_bed6ff4a-f634-4d05-9e20-3f06fbce58a3_terseLabel_en-US" xlink:label="lab_tef_DisposalGroupNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group Name [Domain]</link:label>
    <link:label id="lab_tef_DisposalGroupNameDomain_label_en-US" xlink:label="lab_tef_DisposalGroupNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group Name [Domain]</link:label>
    <link:label id="lab_tef_DisposalGroupNameDomain_documentation_en-US" xlink:label="lab_tef_DisposalGroupNameDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisposalGroupNameDomain" xlink:href="tef-20221231.xsd#tef_DisposalGroupNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisposalGroupNameDomain" xlink:to="lab_tef_DisposalGroupNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaInternacionalHoldingBVMember_0016ed04-d3c8-47df-9afb-eb1614595a1c_terseLabel_en-US" xlink:label="lab_tef_TelefonicaInternacionalHoldingBVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Internacional Holding, B.V</link:label>
    <link:label id="lab_tef_TelefonicaInternacionalHoldingBVMember_label_en-US" xlink:label="lab_tef_TelefonicaInternacionalHoldingBVMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Internacional Holding, B.V [Member]</link:label>
    <link:label id="lab_tef_TelefonicaInternacionalHoldingBVMember_documentation_en-US" xlink:label="lab_tef_TelefonicaInternacionalHoldingBVMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Internacional Holding, B.V</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaInternacionalHoldingBVMember" xlink:href="tef-20221231.xsd#tef_TelefonicaInternacionalHoldingBVMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaInternacionalHoldingBVMember" xlink:to="lab_tef_TelefonicaInternacionalHoldingBVMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member_1d0fc88d-288d-446e-96db-b4b95c21caa4_terseLabel_en-US" xlink:label="lab_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated bilateral loan of Telxius Telecom, S.A.</link:label>
    <link:label id="lab_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member_label_en-US" xlink:label="lab_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Bilateral Loan of Telxius Telecom, S.A. [Member]</link:label>
    <link:label id="lab_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member_documentation_en-US" xlink:label="lab_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Bilateral Loan of Telxius Telecom, S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member" xlink:href="tef-20221231.xsd#tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member" xlink:to="lab_tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_country_CO_b3e4d32a-cc80-4c71-8bbc-ec09a77e278e_terseLabel_en-US" xlink:label="lab_country_CO" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombia</link:label>
    <link:label id="lab_country_CO_label_en-US" xlink:label="lab_country_CO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">COLOMBIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_CO" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_CO"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CO" xlink:to="lab_country_CO" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements_4240a2f2-b821-4530-91e1-ea01a281e32e_terseLabel_en-US" xlink:label="lab_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair value of shares assigned (EUR per share)</link:label>
    <link:label id="lab_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements_label_en-US" xlink:label="lab_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average exercise price of other equity instruments granted in share-based payment arrangements</link:label>
    <link:label id="lab_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements_documentation_en-US" xlink:label="lab_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average exercise price of other equity instruments granted in share-based payment arrangements</link:label>
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    <link:label id="lab_tef_IncreaseInIncomeDueToEffectOfInflationCorrection_346bc88e-cb5d-4af5-90e4-549ed8895dd6_negatedTerseLabel_en-US" xlink:label="lab_tef_IncreaseInIncomeDueToEffectOfInflationCorrection" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase in financial income due to the effect of monetary correction for inflation</link:label>
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    <link:label id="lab_ifrs-full_MeasurementAxis_64c919e5-a109-4a13-b276-4a4f232fd31a_terseLabel_en-US" xlink:label="lab_ifrs-full_MeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement [axis]</link:label>
    <link:label id="lab_ifrs-full_MeasurementAxis_label_en-US" xlink:label="lab_ifrs-full_MeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement [axis]</link:label>
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    <link:label id="lab_ifrs-full_InterestRateRiskMember_66655da9-9d7a-45f4-8547-265aba4dd054_verboseLabel_en-US" xlink:label="lab_ifrs-full_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest rate risk</link:label>
    <link:label id="lab_ifrs-full_InterestRateRiskMember_37805241-76cc-41a7-afa0-62b748525762_terseLabel_en-US" xlink:label="lab_ifrs-full_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest rate risk</link:label>
    <link:label id="lab_ifrs-full_InterestRateRiskMember_99d69e9f-1287-4c9d-be26-88a7a5b2471e_netLabel_en-US" xlink:label="lab_ifrs-full_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest rate risk</link:label>
    <link:label id="lab_ifrs-full_InterestRateRiskMember_label_en-US" xlink:label="lab_ifrs-full_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest rate risk [member]</link:label>
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    <link:label id="lab_tef_AssociatesandJointVenturesMember_0e20d2d3-6fef-4697-9724-6778d4de80ab_terseLabel_en-US" xlink:label="lab_tef_AssociatesandJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Associates and Joint Ventures</link:label>
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    <link:label id="lab_tef_AssociatesandJointVenturesMember_documentation_en-US" xlink:label="lab_tef_AssociatesandJointVenturesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Associates and Joint Ventures [Member]</link:label>
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    <link:label id="lab_dei_EntityAddressCityOrTown_40ff7672-5434-4aa9-9fe9-7c504a985ab3_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, City or Town</link:label>
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    <link:label id="lab_tef_ExtraordinaryVariableRemunerationMember_e125a319-b316-4bf7-ab92-1aa8c5629f27_terseLabel_en-US" xlink:label="lab_tef_ExtraordinaryVariableRemunerationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Extraordinary Variable Remuneration</link:label>
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    <link:label id="lab_tef_ExtraordinaryVariableRemunerationMember_documentation_en-US" xlink:label="lab_tef_ExtraordinaryVariableRemunerationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Extraordinary Variable Remuneration</link:label>
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    <link:label id="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities_608be872-94c6-49e3-ae0f-9d81cac9f052_terseLabel_en-US" xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Estimated financial effect of contingent liabilities</link:label>
    <link:label id="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities_label_en-US" xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Estimated financial effect of contingent liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EstimatedFinancialEffectOfContingentLiabilities"/>
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    <link:label id="lab_tef_TaxYear2011To2017Member_9ecca223-0bd5-4e49-9b86-72f876c4efdc_terseLabel_en-US" xlink:label="lab_tef_TaxYear2011To2017Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Year 2011 to 2017</link:label>
    <link:label id="lab_tef_TaxYear2011To2017Member_label_en-US" xlink:label="lab_tef_TaxYear2011To2017Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Year 2011 to 2017 [Member]</link:label>
    <link:label id="lab_tef_TaxYear2011To2017Member_documentation_en-US" xlink:label="lab_tef_TaxYear2011To2017Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Year 2011 to 2017</link:label>
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    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_05f2eca6-16b0-4f04-92a8-f9198217ec17_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences (Note 17)</link:label>
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    <link:label id="lab_country_DE_a4bb8920-91c9-4a0c-b22a-dcbe5e9f6ae0_terseLabel_en-US" xlink:label="lab_country_DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Germany</link:label>
    <link:label id="lab_country_DE_label_en-US" xlink:label="lab_country_DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">GERMANY</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_DE" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_DE"/>
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    <link:label id="lab_ifrs-full_TypesOfHedgesAxis_937f60b7-a006-48f3-8fc5-9ee2b1562342_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfHedgesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of hedges [axis]</link:label>
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    <link:label id="lab_tef_EIBFinancingDueJune132025Member_ecc611a5-460e-42ba-a48d-1f9ee6c2a279_terseLabel_en-US" xlink:label="lab_tef_EIBFinancingDueJune132025Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BEI Financing due June 13, 2025</link:label>
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    <link:label id="lab_tef_CurrentIndirectTaxesReceivable_bf209f63-1a33-4970-a060-103e373e8725_terseLabel_en-US" xlink:label="lab_tef_CurrentIndirectTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indirect taxes</link:label>
    <link:label id="lab_tef_CurrentIndirectTaxesReceivable_label_en-US" xlink:label="lab_tef_CurrentIndirectTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Indirect Taxes Receivable</link:label>
    <link:label id="lab_tef_CurrentIndirectTaxesReceivable_documentation_en-US" xlink:label="lab_tef_CurrentIndirectTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Indirect Taxes Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentIndirectTaxesReceivable" xlink:href="tef-20221231.xsd#tef_CurrentIndirectTaxesReceivable"/>
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    <link:label id="lab_tef_CommercialPaperMember_be82e9ba-7b65-40cb-8f55-a9e792c0be63_terseLabel_en-US" xlink:label="lab_tef_CommercialPaperMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commercial Paper</link:label>
    <link:label id="lab_tef_CommercialPaperMember_label_en-US" xlink:label="lab_tef_CommercialPaperMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commercial Paper [Member]</link:label>
    <link:label id="lab_tef_CommercialPaperMember_documentation_en-US" xlink:label="lab_tef_CommercialPaperMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commercial Paper [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CommercialPaperMember" xlink:href="tef-20221231.xsd#tef_CommercialPaperMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CommercialPaperMember" xlink:to="lab_tef_CommercialPaperMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets_cba8a1e4-feab-428c-be31-d3c396fdb4d9_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers and other</link:label>
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    <link:label id="lab_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Other Changes, Non-current Financial Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" xlink:to="lab_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfSharesIssuedAsDividends_dab0e636-1ba7-4344-8b7a-843cc58ba598_terseLabel_en-US" xlink:label="lab_tef_NumberOfSharesIssuedAsDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of shares issued as dividends (in shares)</link:label>
    <link:label id="lab_tef_NumberOfSharesIssuedAsDividends_label_en-US" xlink:label="lab_tef_NumberOfSharesIssuedAsDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Shares Issued As Dividends</link:label>
    <link:label id="lab_tef_NumberOfSharesIssuedAsDividends_documentation_en-US" xlink:label="lab_tef_NumberOfSharesIssuedAsDividends" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Shares Issued As Dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfSharesIssuedAsDividends" xlink:href="tef-20221231.xsd#tef_NumberOfSharesIssuedAsDividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfSharesIssuedAsDividends" xlink:to="lab_tef_NumberOfSharesIssuedAsDividends" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember_21fe6782-bbd6-47a6-8fce-e25060d6205b_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Global Solutions Ecuador TGSE, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember_label_en-US" xlink:label="lab_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Global Solutions Ecuador TGSE, S.A. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember_documentation_en-US" xlink:label="lab_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Global Solutions Ecuador TGSE, S.A.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember" xlink:href="tef-20221231.xsd#tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember" xlink:to="lab_tef_TelefonicaGlobalSolutionsEcuadorTGSESAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_country_BR_33454105-e1b5-4233-9d42-52f9e166bb94_terseLabel_en-US" xlink:label="lab_country_BR" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Brazil</link:label>
    <link:label id="lab_country_BR_label_en-US" xlink:label="lab_country_BR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BRAZIL</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_BR" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_BR"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_BR" xlink:to="lab_country_BR" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TaurusBidcoSARLMember_57b032bb-5028-4c47-bb98-d08fea842ce1_terseLabel_en-US" xlink:label="lab_tef_TaurusBidcoSARLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Taurus Bidco S.A.R.L.</link:label>
    <link:label id="lab_tef_TaurusBidcoSARLMember_label_en-US" xlink:label="lab_tef_TaurusBidcoSARLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Taurus Bidco S.A.R.L. [Member]</link:label>
    <link:label id="lab_tef_TaurusBidcoSARLMember_documentation_en-US" xlink:label="lab_tef_TaurusBidcoSARLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Taurus Bidco S.A.R.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TaurusBidcoSARLMember" xlink:href="tef-20221231.xsd#tef_TaurusBidcoSARLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TaurusBidcoSARLMember" xlink:to="lab_tef_TaurusBidcoSARLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProportionOfOwnershipInterestInJointVentureDisposal_eb174935-d318-44e3-8f00-fd67fd23a464_terseLabel_en-US" xlink:label="lab_tef_ProportionOfOwnershipInterestInJointVentureDisposal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of ownership interest in joint venture, disposal</link:label>
    <link:label id="lab_tef_ProportionOfOwnershipInterestInJointVentureDisposal_label_en-US" xlink:label="lab_tef_ProportionOfOwnershipInterestInJointVentureDisposal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion Of Ownership Interest In Joint Venture, Disposal</link:label>
    <link:label id="lab_tef_ProportionOfOwnershipInterestInJointVentureDisposal_documentation_en-US" xlink:label="lab_tef_ProportionOfOwnershipInterestInJointVentureDisposal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion Of Ownership Interest In Joint Venture, Disposal</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProportionOfOwnershipInterestInJointVentureDisposal" xlink:href="tef-20221231.xsd#tef_ProportionOfOwnershipInterestInJointVentureDisposal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProportionOfOwnershipInterestInJointVentureDisposal" xlink:to="lab_tef_ProportionOfOwnershipInterestInJointVentureDisposal" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherInvestmentMember_f32def06-6451-4c45-aa9d-68a7e36a9119_terseLabel_en-US" xlink:label="lab_tef_OtherInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
    <link:label id="lab_tef_OtherInvestmentMember_label_en-US" xlink:label="lab_tef_OtherInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Investment [Member]</link:label>
    <link:label id="lab_tef_OtherInvestmentMember_documentation_en-US" xlink:label="lab_tef_OtherInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Investment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherInvestmentMember" xlink:href="tef-20221231.xsd#tef_OtherInvestmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherInvestmentMember" xlink:to="lab_tef_OtherInvestmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_VivoMember_42083b2c-7700-43ae-8614-b77214e4c6d6_terseLabel_en-US" xlink:label="lab_tef_VivoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vivo</link:label>
    <link:label id="lab_tef_VivoMember_label_en-US" xlink:label="lab_tef_VivoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vivo [Member]</link:label>
    <link:label id="lab_tef_VivoMember_documentation_en-US" xlink:label="lab_tef_VivoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vivo [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_VivoMember" xlink:href="tef-20221231.xsd#tef_VivoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_VivoMember" xlink:to="lab_tef_VivoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_VariableRate1Domain_929b03a9-6e4d-4169-befb-7c22a67f3233_terseLabel_en-US" xlink:label="lab_tef_VariableRate1Domain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_tef_VariableRate1Domain_label_en-US" xlink:label="lab_tef_VariableRate1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Rate1 [Domain]</link:label>
    <link:label id="lab_tef_VariableRate1Domain_documentation_en-US" xlink:label="lab_tef_VariableRate1Domain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Domain] for Variable Rate [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_VariableRate1Domain" xlink:href="tef-20221231.xsd#tef_VariableRate1Domain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_VariableRate1Domain" xlink:to="lab_tef_VariableRate1Domain" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherNonCurrentAssetsAsOfAcquisitionDate_8c1d3198-5236-4c92-a815-21b7139c90b7_terseLabel_en-US" xlink:label="lab_tef_OtherNonCurrentAssetsAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non-current assets</link:label>
    <link:label id="lab_tef_OtherNonCurrentAssetsAsOfAcquisitionDate_label_en-US" xlink:label="lab_tef_OtherNonCurrentAssetsAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Non-Current Assets As Of Acquisition Date</link:label>
    <link:label id="lab_tef_OtherNonCurrentAssetsAsOfAcquisitionDate_documentation_en-US" xlink:label="lab_tef_OtherNonCurrentAssetsAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Non-Current Assets As Of Acquisition Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherNonCurrentAssetsAsOfAcquisitionDate" xlink:href="tef-20221231.xsd#tef_OtherNonCurrentAssetsAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherNonCurrentAssetsAsOfAcquisitionDate" xlink:to="lab_tef_OtherNonCurrentAssetsAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_c3d8000a-7c43-4f22-be9f-7231f3305e0b_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentProvisionsForEmployeeBenefits_322c5fcd-e552-4dc4-95e7-1d1e3ae288dd_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentProvisionsForEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Employee benefits</link:label>
    <link:label id="lab_ifrs-full_CurrentProvisionsForEmployeeBenefits_label_en-US" xlink:label="lab_ifrs-full_CurrentProvisionsForEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current provisions for employee benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentProvisionsForEmployeeBenefits" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentProvisionsForEmployeeBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentProvisionsForEmployeeBenefits" xlink:to="lab_ifrs-full_CurrentProvisionsForEmployeeBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers_f7c31ebb-781a-4af9-b261-8e2127436b1a_terseLabel_en-US" xlink:label="lab_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average maturity period</link:label>
    <link:label id="lab_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers_label_en-US" xlink:label="lab_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted Average Maturity Period, Payment Period To Suppliers</link:label>
    <link:label id="lab_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers_documentation_en-US" xlink:label="lab_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted Average Maturity Period, Payment Period To Suppliers</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" xlink:href="tef-20221231.xsd#tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" xlink:to="lab_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherRelatedPartiesMember_ac4e9873-4bfe-4c08-ad17-5dd817d5dbf9_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Companies</link:label>
    <link:label id="lab_ifrs-full_OtherRelatedPartiesMember_label_en-US" xlink:label="lab_ifrs-full_OtherRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other related parties [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherRelatedPartiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherRelatedPartiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherRelatedPartiesMember" xlink:to="lab_ifrs-full_OtherRelatedPartiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OperatingIncomeBeforeDepreciationAndAmortisation_110c1cac-6162-4b85-a043-3b4d99353b3f_totalLabel_en-US" xlink:label="lab_tef_OperatingIncomeBeforeDepreciationAndAmortisation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">OIBDA</link:label>
    <link:label id="lab_tef_OperatingIncomeBeforeDepreciationAndAmortisation_label_en-US" xlink:label="lab_tef_OperatingIncomeBeforeDepreciationAndAmortisation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Income Before Depreciation And Amortisation</link:label>
    <link:label id="lab_tef_OperatingIncomeBeforeDepreciationAndAmortisation_documentation_en-US" xlink:label="lab_tef_OperatingIncomeBeforeDepreciationAndAmortisation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Income Before Depreciation And Amortisation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OperatingIncomeBeforeDepreciationAndAmortisation" xlink:href="tef-20221231.xsd#tef_OperatingIncomeBeforeDepreciationAndAmortisation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OperatingIncomeBeforeDepreciationAndAmortisation" xlink:to="lab_tef_OperatingIncomeBeforeDepreciationAndAmortisation" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ShareCapitalReservesAndOtherEquityInterestAbstract_c0ea5beb-363b-43b8-bb5b-4645ed12a568_terseLabel_en-US" xlink:label="lab_tef_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share Capital, Reserves And Other Equity Interest [Abstract]</link:label>
    <link:label id="lab_tef_ShareCapitalReservesAndOtherEquityInterestAbstract_label_en-US" xlink:label="lab_tef_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share Capital, Reserves And Other Equity Interest [Abstract]</link:label>
    <link:label id="lab_tef_ShareCapitalReservesAndOtherEquityInterestAbstract_documentation_en-US" xlink:label="lab_tef_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share capital, reserves and other equity interest [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:href="tef-20221231.xsd#tef_ShareCapitalReservesAndOtherEquityInterestAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:to="lab_tef_ShareCapitalReservesAndOtherEquityInterestAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BusinessPlanTerm_9450a398-2fb3-4c06-bfb2-236714aa4e68_terseLabel_en-US" xlink:label="lab_tef_BusinessPlanTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business plan, term</link:label>
    <link:label id="lab_tef_BusinessPlanTerm_label_en-US" xlink:label="lab_tef_BusinessPlanTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Plan, Term</link:label>
    <link:label id="lab_tef_BusinessPlanTerm_documentation_en-US" xlink:label="lab_tef_BusinessPlanTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Plan, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BusinessPlanTerm" xlink:href="tef-20221231.xsd#tef_BusinessPlanTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BusinessPlanTerm" xlink:to="lab_tef_BusinessPlanTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ExpiringIn2041Option2Member_0205334f-93fd-46f9-9b4b-2838dfd4dae8_terseLabel_en-US" xlink:label="lab_tef_ExpiringIn2041Option2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring In 2041, Option 2</link:label>
    <link:label id="lab_tef_ExpiringIn2041Option2Member_label_en-US" xlink:label="lab_tef_ExpiringIn2041Option2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring In 2041, Option 2 [Member]</link:label>
    <link:label id="lab_tef_ExpiringIn2041Option2Member_documentation_en-US" xlink:label="lab_tef_ExpiringIn2041Option2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring In 2041, Option 2</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ExpiringIn2041Option2Member" xlink:href="tef-20221231.xsd#tef_ExpiringIn2041Option2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ExpiringIn2041Option2Member" xlink:to="lab_tef_ExpiringIn2041Option2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_81d22fd9-9a5d-495e-9431-8f50208b643d_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total other comprehensive income (loss) recognized for the year that may be reclassified subsequently to profit or loss</link:label>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_label_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee_45d27d82-5adb-4451-a5e4-6a01c3557c58_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum contribution per month by employee</link:label>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee_label_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Maximum Contribution Per Month By Employee</link:label>
    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee_documentation_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Maximum Contribution Per Month By Employee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee" xlink:href="tef-20221231.xsd#tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee" xlink:to="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumContributionPerMonthByEmployee" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInformationLineItems_0c632f9b-064a-4d15-b6c4-cf33b8e3e82c_terseLabel_en-US" xlink:label="lab_dei_EntityInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Information [Line Items]</link:label>
    <link:label id="lab_dei_EntityInformationLineItems_label_en-US" xlink:label="lab_dei_EntityInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInformationLineItems" xlink:to="lab_dei_EntityInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities_4175d3b6-1a17-4ea2-b303-a29abad7c47d_verboseLabel_en-US" xlink:label="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Maturity of Debentures and Bonds</link:label>
    <link:label id="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of maturity analysis for non-derivative financial liabilities [text block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities" xlink:to="lab_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PayingLegMember_1e9a49dd-1707-41eb-b7a1-8bc6d275a6cc_terseLabel_en-US" xlink:label="lab_tef_PayingLegMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Paying leg</link:label>
    <link:label id="lab_tef_PayingLegMember_label_en-US" xlink:label="lab_tef_PayingLegMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Paying Leg [Member]</link:label>
    <link:label id="lab_tef_PayingLegMember_documentation_en-US" xlink:label="lab_tef_PayingLegMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Paying Leg [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PayingLegMember" xlink:href="tef-20221231.xsd#tef_PayingLegMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PayingLegMember" xlink:to="lab_tef_PayingLegMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AngelVilaBoixMember_68fb780d-745a-42df-920c-87cb179fd23d_terseLabel_en-US" xlink:label="lab_tef_AngelVilaBoixMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mr. &#193;ngel Vil&#225; Boix</link:label>
    <link:label id="lab_tef_AngelVilaBoixMember_label_en-US" xlink:label="lab_tef_AngelVilaBoixMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Angel Vila Boix [Member]</link:label>
    <link:label id="lab_tef_AngelVilaBoixMember_documentation_en-US" xlink:label="lab_tef_AngelVilaBoixMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Angel Vila Boix [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AngelVilaBoixMember" xlink:href="tef-20221231.xsd#tef_AngelVilaBoixMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AngelVilaBoixMember" xlink:to="lab_tef_AngelVilaBoixMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherPossibleContingentLiabilities_56ce8239-225e-4930-8442-84224abf1916_terseLabel_en-US" xlink:label="lab_tef_OtherPossibleContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other possible contingencies</link:label>
    <link:label id="lab_tef_OtherPossibleContingentLiabilities_label_en-US" xlink:label="lab_tef_OtherPossibleContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other possible contingent liabilities</link:label>
    <link:label id="lab_tef_OtherPossibleContingentLiabilities_documentation_en-US" xlink:label="lab_tef_OtherPossibleContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other possible contingent liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherPossibleContingentLiabilities" xlink:href="tef-20221231.xsd#tef_OtherPossibleContingentLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherPossibleContingentLiabilities" xlink:to="lab_tef_OtherPossibleContingentLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome_2e426cad-5355-40d3-97f9-10c7a78081b5_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of fixed annual provision of invoiced operating income</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome_label_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Percentage Of Fixed Annual Provision of Invoiced Operating Income</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Percentage Of Fixed Annual Provision of Invoiced Operating Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome" xlink:to="lab_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInFinancialAssets_a853f078-5b86-4f72-a1e2-ea6192894f93_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInFinancialAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase in financial assets</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseInFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseInFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) in financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseInFinancialAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseInFinancialAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInFinancialAssets" xlink:to="lab_ifrs-full_IncreaseDecreaseInFinancialAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary_f11403be-d410-440b-be17-9f8746abfa59_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sales of non-controlling interests and inclusion of companies</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through disposal of subsidiary, equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense_eabf25e3-38e9-49f4-bc53-0e1abbe364d3_terseLabel_en-US" xlink:label="lab_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulations on digital services, potential fine on total worldwide turnover, first offense</link:label>
    <link:label id="lab_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense_label_en-US" xlink:label="lab_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulations On Digital Services, Possible Fine On Total Worldwide Turnover, First Offense</link:label>
    <link:label id="lab_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense_documentation_en-US" xlink:label="lab_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulations On Digital Services, Possible Fine On Total Worldwide Turnover, First Offense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense" xlink:href="tef-20221231.xsd#tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense" xlink:to="lab_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense" xlink:type="arc" order="1"/>
    <link:label id="lab_country_CL_420031c4-2cab-4bc2-b7cd-6dc24e78863f_terseLabel_en-US" xlink:label="lab_country_CL" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Chile</link:label>
    <link:label id="lab_country_CL_label_en-US" xlink:label="lab_country_CL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CHILE</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_CL" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_CL"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CL" xlink:to="lab_country_CL" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage_ae02a877-1b6f-4a83-90f7-95dfc8a0314b_terseLabel_en-US" xlink:label="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of clients recognised as of acquisition date, (in percentage of total customers)</link:label>
    <link:label id="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage_label_en-US" xlink:label="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of clients recognised as of acquisition date, percentage</link:label>
    <link:label id="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage_documentation_en-US" xlink:label="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Clients Recognised As Of Acquisition Date, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" xlink:href="tef-20221231.xsd#tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" xlink:to="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EntitysTotalForAssociatesMember_cf6a3907-40a5-42cf-8892-9e642b96b60f_terseLabel_en-US" xlink:label="lab_ifrs-full_EntitysTotalForAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity's total for associates</link:label>
    <link:label id="lab_ifrs-full_EntitysTotalForAssociatesMember_label_en-US" xlink:label="lab_ifrs-full_EntitysTotalForAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity's total for associates [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EntitysTotalForAssociatesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EntitysTotalForAssociatesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EntitysTotalForAssociatesMember" xlink:to="lab_ifrs-full_EntitysTotalForAssociatesMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_d58a57ab-05f4-43e5-b517-3a41fbf1e239_terseLabel_en-US" xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment</link:label>
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    <link:label id="lab_tef_TelefonicaEmisionesS.A.U.Member_9d988677-d4a6-4ecd-8d8f-fe1a5d5041a9_terseLabel_en-US" xlink:label="lab_tef_TelefonicaEmisionesS.A.U.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Emisiones, S.A.U.</link:label>
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    <link:label id="lab_tef_IncrementalGroupHoldingsLimitedMember_label_en-US" xlink:label="lab_tef_IncrementalGroupHoldingsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group Holdings Limited [Member]</link:label>
    <link:label id="lab_tef_IncrementalGroupHoldingsLimitedMember_documentation_en-US" xlink:label="lab_tef_IncrementalGroupHoldingsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group Holdings Limited</link:label>
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    <link:label id="lab_ifrs-full_Level1OfFairValueHierarchyMember_d193f3b2-316f-45b0-9969-28c8d0b22334_terseLabel_en-US" xlink:label="lab_ifrs-full_Level1OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Level 1 (Quoted prices)</link:label>
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    <link:label id="lab_tef_TelefonicaCybersecurityTechPerSACMember_7fde4df5-b33e-4388-9b7c-f61c8cfa2587_terseLabel_en-US" xlink:label="lab_tef_TelefonicaCybersecurityTechPerSACMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Cybersecurity &amp; Cloud Tech Per&#250; S.A.C</link:label>
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    <link:label id="lab_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset_39df8def-5640-4de9-966f-7183348430f8_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Benefits paid</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:to="lab_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:type="arc" order="1"/>
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    <link:label id="lab_tef_O2InternationalHoldingsMember_f09ae5a2-cd3c-4828-8f80-b5b2f3ab6aff_terseLabel_en-US" xlink:label="lab_tef_O2InternationalHoldingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 International Holdings Ltd. Holding company</link:label>
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    <link:label id="lab_tef_O2InternationalHoldingsMember_documentation_en-US" xlink:label="lab_tef_O2InternationalHoldingsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 International Holdings [Member]</link:label>
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    <link:label id="lab_tef_OtherExternalPositionMember_77555418-e407-4b06-aad1-06a9297b3b83_terseLabel_en-US" xlink:label="lab_tef_OtherExternalPositionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other external</link:label>
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    <link:label id="lab_tef_OtherExternalPositionMember_documentation_en-US" xlink:label="lab_tef_OtherExternalPositionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other External Position [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherExternalPositionMember" xlink:href="tef-20221231.xsd#tef_OtherExternalPositionMember"/>
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    <link:label id="lab_tef_CaisseDeDepotEtPlacementDuQuebecMember_ad852b51-99fd-4458-9791-7c68c8545fdf_terseLabel_en-US" xlink:label="lab_tef_CaisseDeDepotEtPlacementDuQuebecMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Caisse de depot et placement du Quebec</link:label>
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    <link:label id="lab_ifrs-full_Goodwill_e6e962f4-cc7f-479c-a24f-2c6314efbd42_terseLabel_en-US" xlink:label="lab_ifrs-full_Goodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Goodwill</link:label>
    <link:label id="lab_ifrs-full_Goodwill_label_en-US" xlink:label="lab_ifrs-full_Goodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Goodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Goodwill"/>
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    <link:label id="lab_tef_AdditionstoLeaseLiabilities_32168c3b-554d-4218-b5ba-312bc4f29662_terseLabel_en-US" xlink:label="lab_tef_AdditionstoLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_tef_AdditionstoLeaseLiabilities_label_en-US" xlink:label="lab_tef_AdditionstoLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions to Lease Liabilities</link:label>
    <link:label id="lab_tef_AdditionstoLeaseLiabilities_documentation_en-US" xlink:label="lab_tef_AdditionstoLeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions to Lease Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AdditionstoLeaseLiabilities" xlink:href="tef-20221231.xsd#tef_AdditionstoLeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AdditionstoLeaseLiabilities" xlink:to="lab_tef_AdditionstoLeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentShellCompanyReport_95a2ef19-c4bd-4aca-a7b9-06a19a94299d_terseLabel_en-US" xlink:label="lab_dei_DocumentShellCompanyReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Shell Company Report</link:label>
    <link:label id="lab_dei_DocumentShellCompanyReport_label_en-US" xlink:label="lab_dei_DocumentShellCompanyReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Shell Company Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentShellCompanyReport" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentShellCompanyReport"/>
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    <link:label id="lab_tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount_54304030-201b-41b1-ac09-8a987ec6da35_negatedTerseLabel_en-US" xlink:label="lab_tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Less: carrying amount of Telefonica United Kingdom at June 1, 2021</link:label>
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    <link:label id="lab_tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount_documentation_en-US" xlink:label="lab_tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Groups Classified As Held For Sale, Carrying Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount" xlink:href="tef-20221231.xsd#tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount"/>
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    <link:label id="lab_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions_56da3a66-5396-4a91-bb24-1b28467c1e49_terseLabel_en-US" xlink:label="lab_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finance costs</link:label>
    <link:label id="lab_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions_label_en-US" xlink:label="lab_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfer Costs Under Finance Agreements, Related Party Transactions</link:label>
    <link:label id="lab_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions_documentation_en-US" xlink:label="lab_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfer Costs Under Finance Agreements, Related Party Transactions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" xlink:href="tef-20221231.xsd#tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" xlink:to="lab_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_4408ceaa-f4c0-4680-bbf6-515cbc894659_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-Based Payment Plans</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of share-based payment arrangements [text block]</link:label>
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    <link:label id="lab_tef_DisclosureOfTradeAndOtherReceivablesLineItems_b2f4d57a-38e4-4099-ba1e-e157e997a81f_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfTradeAndOtherReceivablesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of Trade and Other Receivables [Line Items]</link:label>
    <link:label id="lab_tef_DisclosureOfTradeAndOtherReceivablesLineItems_label_en-US" xlink:label="lab_tef_DisclosureOfTradeAndOtherReceivablesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Trade And Other Receivables [Line Items]</link:label>
    <link:label id="lab_tef_DisclosureOfTradeAndOtherReceivablesLineItems_documentation_en-US" xlink:label="lab_tef_DisclosureOfTradeAndOtherReceivablesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Line Items] for Disclosure of trade and other receivables [Table]</link:label>
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    <link:label id="lab_tef_BilateralLoanDueJune142021Member_01549a98-eabb-4f8f-ad70-7f26b7dcc6ec_terseLabel_en-US" xlink:label="lab_tef_BilateralLoanDueJune142021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral loan due June 14, 2021</link:label>
    <link:label id="lab_tef_BilateralLoanDueJune142021Member_label_en-US" xlink:label="lab_tef_BilateralLoanDueJune142021Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due June 14, 2021 [Member]</link:label>
    <link:label id="lab_tef_BilateralLoanDueJune142021Member_documentation_en-US" xlink:label="lab_tef_BilateralLoanDueJune142021Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due June 14, 2021</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BilateralLoanDueJune142021Member" xlink:href="tef-20221231.xsd#tef_BilateralLoanDueJune142021Member"/>
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    <link:label id="lab_tef_DisposalOfTaxAssetDeductions_96b9ac51-5412-4994-a495-0f3b8a16a7a5_terseLabel_en-US" xlink:label="lab_tef_DisposalOfTaxAssetDeductions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal of tax asset, deductions</link:label>
    <link:label id="lab_tef_DisposalOfTaxAssetDeductions_label_en-US" xlink:label="lab_tef_DisposalOfTaxAssetDeductions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Of Tax Asset, Deductions</link:label>
    <link:label id="lab_tef_DisposalOfTaxAssetDeductions_documentation_en-US" xlink:label="lab_tef_DisposalOfTaxAssetDeductions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Of Tax Asset, Deductions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisposalOfTaxAssetDeductions" xlink:href="tef-20221231.xsd#tef_DisposalOfTaxAssetDeductions"/>
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    <link:label id="lab_tef_ReversalOfDeferredTaxAssetsForDeductions_d04aafc8-8d88-4a64-bca2-0b4667d41118_terseLabel_en-US" xlink:label="lab_tef_ReversalOfDeferredTaxAssetsForDeductions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal of deferred tax assets for deductions</link:label>
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    <link:label id="lab_tef_ReversalOfDeferredTaxAssetsForDeductions_documentation_en-US" xlink:label="lab_tef_ReversalOfDeferredTaxAssetsForDeductions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal Of Deferred Tax Assets For Deductions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReversalOfDeferredTaxAssetsForDeductions" xlink:href="tef-20221231.xsd#tef_ReversalOfDeferredTaxAssetsForDeductions"/>
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    <link:label id="lab_ifrs-full_GainsLossesOnHedgingInstrument_4f6a83ce-2cf1-478b-aa2f-cb4e5782c36e_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesOnHedgingInstrument" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">(Loss)/Gain on fair value hedges</link:label>
    <link:label id="lab_ifrs-full_GainsLossesOnHedgingInstrument_label_en-US" xlink:label="lab_ifrs-full_GainsLossesOnHedgingInstrument" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on hedging instrument, fair value hedges</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnHedgingInstrument" xlink:to="lab_ifrs-full_GainsLossesOnHedgingInstrument" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentReceivables_3cf43235-a261-43ec-be81-d25c9b146fff_totalLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables (Note 16)</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentReceivables_a694bd16-226f-40a0-99a4-9e211b83736a_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables and other current assets</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentReceivables_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade and other current receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeAndOtherCurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherCurrentReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_A12July2027Member_35d17087-d743-4923-ad22-9e0cd948c2c9_terseLabel_en-US" xlink:label="lab_tef_A12July2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">12 July 2027</link:label>
    <link:label id="lab_tef_A12July2027Member_label_en-US" xlink:label="lab_tef_A12July2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">12 July 2027 [Member]</link:label>
    <link:label id="lab_tef_A12July2027Member_documentation_en-US" xlink:label="lab_tef_A12July2027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">12 July 2027</link:label>
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    <link:label id="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities_1c0e2780-15eb-46db-91d9-7dd169985ed3_terseLabel_en-US" xlink:label="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables and other non-current liabilities</link:label>
    <link:label id="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities_076c3a15-85e6-4b3b-abf2-d09f28cb084f_totalLabel_en-US" xlink:label="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities_label_en-US" xlink:label="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncurrent Payables And Other Non-current Liabilities</link:label>
    <link:label id="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities_documentation_en-US" xlink:label="lab_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncurrent Payables And Other Non-current Liabilities</link:label>
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    <link:label id="lab_tef_Expiringin2023Option2Member_20d999a1-67e5-4832-bc7f-da82fce4a2a7_terseLabel_en-US" xlink:label="lab_tef_Expiringin2023Option2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2023, Option 2</link:label>
    <link:label id="lab_tef_Expiringin2023Option2Member_label_en-US" xlink:label="lab_tef_Expiringin2023Option2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2023, Option 2 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2023Option2Member_documentation_en-US" xlink:label="lab_tef_Expiringin2023Option2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2023, Option 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2023Option2Member" xlink:href="tef-20221231.xsd#tef_Expiringin2023Option2Member"/>
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    <link:label id="lab_tef_IgnacioMorenoMartinezMember_148927e4-bcd4-4743-8529-e7aef423b865_terseLabel_en-US" xlink:label="lab_tef_IgnacioMorenoMartinezMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mr. Ignacio Moreno Mart&#237;nez</link:label>
    <link:label id="lab_tef_IgnacioMorenoMartinezMember_label_en-US" xlink:label="lab_tef_IgnacioMorenoMartinezMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ignacio Moreno Martinez [Member]</link:label>
    <link:label id="lab_tef_IgnacioMorenoMartinezMember_documentation_en-US" xlink:label="lab_tef_IgnacioMorenoMartinezMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ignacio Moreno Martinez [Member]</link:label>
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    <link:label id="lab_tef_DisclosureOfBoardAndSeniorManagementCompensationTextBlock_9ed25392-0590-4c47-92ee-a120c7685485_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfBoardAndSeniorManagementCompensationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Appendix II: Board and Senior Management Compensation</link:label>
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    <link:label id="lab_tef_LegalReservePercentageOfShareCapital_0fa4db06-0df0-49b9-bcee-fc83eafa7602_terseLabel_en-US" xlink:label="lab_tef_LegalReservePercentageOfShareCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal reserve, proportion of share capital (as a percent)</link:label>
    <link:label id="lab_tef_LegalReservePercentageOfShareCapital_label_en-US" xlink:label="lab_tef_LegalReservePercentageOfShareCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Reserve, Percentage Of Share Capital</link:label>
    <link:label id="lab_tef_LegalReservePercentageOfShareCapital_documentation_en-US" xlink:label="lab_tef_LegalReservePercentageOfShareCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Reserve, Percentage Of Share Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_LegalReservePercentageOfShareCapital" xlink:href="tef-20221231.xsd#tef_LegalReservePercentageOfShareCapital"/>
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    <link:label id="lab_tef_NewBroadbandEthernetServiceMonthlyRate_7d02cfde-6096-4ba1-bdc0-1e95ed7118b7_terseLabel_en-US" xlink:label="lab_tef_NewBroadbandEthernetServiceMonthlyRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New broadband ethernet service, monthly rate</link:label>
    <link:label id="lab_tef_NewBroadbandEthernetServiceMonthlyRate_label_en-US" xlink:label="lab_tef_NewBroadbandEthernetServiceMonthlyRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New Broadband Ethernet Service, Monthly Rate</link:label>
    <link:label id="lab_tef_NewBroadbandEthernetServiceMonthlyRate_documentation_en-US" xlink:label="lab_tef_NewBroadbandEthernetServiceMonthlyRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New Broadband Ethernet Service, Monthly Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NewBroadbandEthernetServiceMonthlyRate" xlink:href="tef-20221231.xsd#tef_NewBroadbandEthernetServiceMonthlyRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NewBroadbandEthernetServiceMonthlyRate" xlink:to="lab_tef_NewBroadbandEthernetServiceMonthlyRate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentstoSuppliersTable_5da3318e-dceb-4ad6-99f9-a867f07e7039_terseLabel_en-US" xlink:label="lab_tef_PaymentstoSuppliersTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to Suppliers [Table]</link:label>
    <link:label id="lab_tef_PaymentstoSuppliersTable_label_en-US" xlink:label="lab_tef_PaymentstoSuppliersTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to Suppliers [Table]</link:label>
    <link:label id="lab_tef_PaymentstoSuppliersTable_documentation_en-US" xlink:label="lab_tef_PaymentstoSuppliersTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to Suppliers [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentstoSuppliersTable" xlink:href="tef-20221231.xsd#tef_PaymentstoSuppliersTable"/>
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    <link:label id="lab_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers_3bf6a780-5630-4e03-bed2-0d354b8865f0_periodStartLabel_en-US" xlink:label="lab_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capitalized costs, beginning balance</link:label>
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    <link:label id="lab_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers_label_en-US" xlink:label="lab_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets recognised from costs to obtain or fulfil contracts with customers</link:label>
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    <link:label id="lab_country_GB_356fa422-2b96-4c22-866a-a8ff2088404e_terseLabel_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">United Kingdom</link:label>
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    <link:label id="lab_tef_Expiringin2031Member_8b086b8a-c849-4880-92e7-3466d0e5c6c2_terseLabel_en-US" xlink:label="lab_tef_Expiringin2031Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2031</link:label>
    <link:label id="lab_tef_Expiringin2031Member_label_en-US" xlink:label="lab_tef_Expiringin2031Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2031 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2031Member_documentation_en-US" xlink:label="lab_tef_Expiringin2031Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2031 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2031Member" xlink:href="tef-20221231.xsd#tef_Expiringin2031Member"/>
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    <link:label id="lab_tef_DividendsTable_008d12db-803a-41cc-91a9-94ff00adb8ae_terseLabel_en-US" xlink:label="lab_tef_DividendsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends [Table]</link:label>
    <link:label id="lab_tef_DividendsTable_label_en-US" xlink:label="lab_tef_DividendsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends [Table]</link:label>
    <link:label id="lab_tef_DividendsTable_documentation_en-US" xlink:label="lab_tef_DividendsTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DividendsTable" xlink:href="tef-20221231.xsd#tef_DividendsTable"/>
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    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_69d381f7-2e36-4e18-8515-ca26ddfc6126_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other movements</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_96fb56d5-739a-45e5-a02e-c699e17f73f0_verboseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other movements</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through other changes, equity</link:label>
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    <link:label id="lab_tef_OtecelSAMember_a7eacddd-2bb3-4897-9651-0885093295fa_terseLabel_en-US" xlink:label="lab_tef_OtecelSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Otecel, S.A.</link:label>
    <link:label id="lab_tef_OtecelSAMember_label_en-US" xlink:label="lab_tef_OtecelSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Otecel, S.A. [Member]</link:label>
    <link:label id="lab_tef_OtecelSAMember_documentation_en-US" xlink:label="lab_tef_OtecelSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Otecel, S.A.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtecelSAMember" xlink:href="tef-20221231.xsd#tef_OtecelSAMember"/>
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    <link:label id="lab_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines_adcacbe6-d0e1-4f99-ac54-f79126f57397_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of increase in administrative fines</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines_label_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Percentage of Increase in Administrative Fines</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Percentage of Increase in Administrative Fines</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" xlink:to="lab_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates_7af06767-0a9f-409b-8785-7b3cc68aa734_terseLabel_en-US" xlink:label="lab_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">European Commission infringement proceedings, number of member states</link:label>
    <link:label id="lab_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates_label_en-US" xlink:label="lab_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">European Commission Infringement Proceedings, Number Of Member States</link:label>
    <link:label id="lab_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates_documentation_en-US" xlink:label="lab_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">European Commission Infringement Proceedings, Number Of Member States</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates" xlink:href="tef-20221231.xsd#tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates" xlink:to="lab_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear_710b51f5-c2a4-4da5-bcb7-cd5bfdd59778_terseLabel_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportionate increase (decrease) in compensation from prior year</link:label>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear_label_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key Management Personnel Compensation, Proportionate Increase (Decrease) From Prior Year</link:label>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear_documentation_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key Management Personnel Compensation, Proportionate Increase (Decrease) From Prior Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear" xlink:href="tef-20221231.xsd#tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear" xlink:to="lab_tef_KeyManagementPersonnelCompensationProportionateIncreaseDecreaseFromPriorYear" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount_d99551fa-f099-43d7-8239-41e083a97b17_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum license acquisition, amount paid</link:label>
    <link:label id="lab_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount_label_en-US" xlink:label="lab_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Spectrum License Acquisition, Amount</link:label>
    <link:label id="lab_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Spectrum License Acquisition, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount" xlink:to="lab_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BETernaApSDenmarkMember_dc1846e8-a408-4bf2-b1a0-a86e23390dea_terseLabel_en-US" xlink:label="lab_tef_BETernaApSDenmarkMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna ApS (Denmark)</link:label>
    <link:label id="lab_tef_BETernaApSDenmarkMember_label_en-US" xlink:label="lab_tef_BETernaApSDenmarkMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna ApS (Denmark) [Member]</link:label>
    <link:label id="lab_tef_BETernaApSDenmarkMember_documentation_en-US" xlink:label="lab_tef_BETernaApSDenmarkMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna ApS (Denmark)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaApSDenmarkMember" xlink:href="tef-20221231.xsd#tef_BETernaApSDenmarkMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BETernaApSDenmarkMember" xlink:to="lab_tef_BETernaApSDenmarkMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AssociatesandJointVenturesAxis_d41a0c7b-7cf7-47cb-a9d1-ecb42285af3c_terseLabel_en-US" xlink:label="lab_tef_AssociatesandJointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Associates and Joint Ventures [Axis]</link:label>
    <link:label id="lab_tef_AssociatesandJointVenturesAxis_label_en-US" xlink:label="lab_tef_AssociatesandJointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Associates and Joint Ventures [Axis]</link:label>
    <link:label id="lab_tef_AssociatesandJointVenturesAxis_documentation_en-US" xlink:label="lab_tef_AssociatesandJointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Associates and Joint Ventures [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AssociatesandJointVenturesAxis" xlink:href="tef-20221231.xsd#tef_AssociatesandJointVenturesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AssociatesandJointVenturesAxis" xlink:to="lab_tef_AssociatesandJointVenturesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2033Option2Member_fd7fc164-53fe-4ff7-8cf9-e59626784b25_terseLabel_en-US" xlink:label="lab_tef_Expiringin2033Option2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2033, Option 2</link:label>
    <link:label id="lab_tef_Expiringin2033Option2Member_label_en-US" xlink:label="lab_tef_Expiringin2033Option2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2033, Option 2 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2033Option2Member_documentation_en-US" xlink:label="lab_tef_Expiringin2033Option2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2033, Option 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2033Option2Member" xlink:href="tef-20221231.xsd#tef_Expiringin2033Option2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2033Option2Member" xlink:to="lab_tef_Expiringin2033Option2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_country_ES_f91fe10d-d930-40e2-955c-787f70bfe7ff_terseLabel_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spain</link:label>
    <link:label id="lab_country_ES_label_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SPAIN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_ES" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_ES"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_ES" xlink:to="lab_country_ES" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsNumberOfLocalities_c6a2a0fa-48ca-4e28-a887-c288a8940994_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsNumberOfLocalities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of localities with indefinite term</link:label>
    <link:label id="lab_tef_RegulatoryOperationsNumberOfLocalities_label_en-US" xlink:label="lab_tef_RegulatoryOperationsNumberOfLocalities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Number Of Localities</link:label>
    <link:label id="lab_tef_RegulatoryOperationsNumberOfLocalities_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsNumberOfLocalities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Number Of Localities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsNumberOfLocalities" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsNumberOfLocalities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsNumberOfLocalities" xlink:to="lab_tef_RegulatoryOperationsNumberOfLocalities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentContractAssets_1c0eadd0-5c73-4285-9344-65a2447595ca_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentContractAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contractual assets (Note 23)</link:label>
    <link:label id="lab_ifrs-full_NoncurrentContractAssets_label_en-US" xlink:label="lab_ifrs-full_NoncurrentContractAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current contract assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentContractAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentContractAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentContractAssets" xlink:to="lab_ifrs-full_NoncurrentContractAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember_b252d543-e8b0-487d-bb86-5a86832c57c8_terseLabel_en-US" xlink:label="lab_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainability Linked Facility of Telefonica Germany</link:label>
    <link:label id="lab_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember_label_en-US" xlink:label="lab_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainability Linked Facility of Telefonica Germany [Member]</link:label>
    <link:label id="lab_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember_documentation_en-US" xlink:label="lab_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainability Linked Facility of Telefonica Germany</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember" xlink:href="tef-20221231.xsd#tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember" xlink:to="lab_tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDate_4c0609db-8e0f-42f5-80e3-02d6d2b861d3_terseLabel_en-US" xlink:label="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of clients recognised as of acquisition date</link:label>
    <link:label id="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of clients recognised as of acquisition date</link:label>
    <link:label id="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDate_documentation_en-US" xlink:label="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of clients recognised as of acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfClientsRecognisedAsOfAcquisitionDate" xlink:href="tef-20221231.xsd#tef_NumberOfClientsRecognisedAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfClientsRecognisedAsOfAcquisitionDate" xlink:to="lab_tef_NumberOfClientsRecognisedAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AuditorFirmId_1a7344c7-b510-49ef-acce-7558803bb7b7_terseLabel_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Firm ID</link:label>
    <link:label id="lab_dei_AuditorFirmId_label_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Firm ID</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AuditorFirmId" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AuditorFirmId"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorFirmId" xlink:to="lab_dei_AuditorFirmId" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember_bae23e70-2bf5-4f97-8b44-9ad4ea790e4a_terseLabel_en-US" xlink:label="lab_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current financial assets - short-term investments</link:label>
    <link:label id="lab_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember_label_en-US" xlink:label="lab_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Current Financial Assets - Short-Term Investments [Member]</link:label>
    <link:label id="lab_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember_documentation_en-US" xlink:label="lab_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Current Financial Assets - Short-Term Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember" xlink:href="tef-20221231.xsd#tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember" xlink:to="lab_tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherHeadingOfAssets_327eab19-c476-479c-8906-aad3430e6f05_terseLabel_en-US" xlink:label="lab_tef_OtherHeadingOfAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other heading of assets</link:label>
    <link:label id="lab_tef_OtherHeadingOfAssets_label_en-US" xlink:label="lab_tef_OtherHeadingOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Heading Of Assets</link:label>
    <link:label id="lab_tef_OtherHeadingOfAssets_documentation_en-US" xlink:label="lab_tef_OtherHeadingOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Heading Of Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherHeadingOfAssets" xlink:href="tef-20221231.xsd#tef_OtherHeadingOfAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherHeadingOfAssets" xlink:to="lab_tef_OtherHeadingOfAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance_ff5b7b59-5343-42e7-acd4-67fdf3d08663_terseLabel_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Delivery percent (if within median of performance)</link:label>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance_label_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Performance Within Mean of Performance</link:label>
    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance_documentation_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Performance Within Mean of Performance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance" xlink:href="tef-20221231.xsd#tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance" xlink:to="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EquityinstrumentsMember_97d52299-accf-4256-86d4-f5daec681b34_terseLabel_en-US" xlink:label="lab_tef_EquityinstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity instruments</link:label>
    <link:label id="lab_tef_EquityinstrumentsMember_label_en-US" xlink:label="lab_tef_EquityinstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity instruments [Member]</link:label>
    <link:label id="lab_tef_EquityinstrumentsMember_documentation_en-US" xlink:label="lab_tef_EquityinstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity instruments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EquityinstrumentsMember" xlink:href="tef-20221231.xsd#tef_EquityinstrumentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EquityinstrumentsMember" xlink:to="lab_tef_EquityinstrumentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherLongtermProvisions_a486c60b-f053-4509-bd46-b8cdcaf7e89d_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherLongtermProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other provisions</link:label>
    <link:label id="lab_ifrs-full_OtherLongtermProvisions_c55acc9f-b6e4-40c3-8448-d9d716c7aa5b_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherLongtermProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current (see Note 12)</link:label>
    <link:label id="lab_ifrs-full_OtherLongtermProvisions_label_en-US" xlink:label="lab_ifrs-full_OtherLongtermProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non-current provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherLongtermProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherLongtermProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherLongtermProvisions" xlink:to="lab_ifrs-full_OtherLongtermProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaFactoringPeruSACMember_12b3fe00-4d09-478f-b663-34e02a84e226_verboseLabel_en-US" xlink:label="lab_tef_TelefonicaFactoringPeruSACMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Factoring Peru, S.A.C.</link:label>
    <link:label id="lab_tef_TelefonicaFactoringPeruSACMember_bd92ddfa-f6c4-4d89-87ff-cdeb348e37a7_terseLabel_en-US" xlink:label="lab_tef_TelefonicaFactoringPeruSACMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Factoring Per&#250;, S.A.C. Factoring services provider</link:label>
    <link:label id="lab_tef_TelefonicaFactoringPeruSACMember_label_en-US" xlink:label="lab_tef_TelefonicaFactoringPeruSACMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Factoring Peru, SAC [Member]</link:label>
    <link:label id="lab_tef_TelefonicaFactoringPeruSACMember_documentation_en-US" xlink:label="lab_tef_TelefonicaFactoringPeruSACMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Factoring Peru, SAC [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaFactoringPeruSACMember" xlink:href="tef-20221231.xsd#tef_TelefonicaFactoringPeruSACMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaFactoringPeruSACMember" xlink:to="lab_tef_TelefonicaFactoringPeruSACMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities_0420b22e-1e89-4fbd-9d3a-22076a89ae9c_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred revenue</link:label>
    <link:label id="lab_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current deferred income other than non-current contract liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities" xlink:to="lab_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_HedgingInstrumentsAxis_6df9922f-ba3d-4573-a7ff-4ad5ce694017_terseLabel_en-US" xlink:label="lab_ifrs-full_HedgingInstrumentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging instruments [axis]</link:label>
    <link:label id="lab_ifrs-full_HedgingInstrumentsAxis_label_en-US" xlink:label="lab_ifrs-full_HedgingInstrumentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging instruments [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_HedgingInstrumentsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_HedgingInstrumentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_HedgingInstrumentsAxis" xlink:to="lab_ifrs-full_HedgingInstrumentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LeaseLiabilities_79e4ccf5-9c6e-492d-b758-a14eb4ba5415_terseLabel_en-US" xlink:label="lab_ifrs-full_LeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease liabilities</link:label>
    <link:label id="lab_ifrs-full_LeaseLiabilities_68e6ef34-2ef6-4dd4-88d2-cb8cd48bf868_periodStartLabel_en-US" xlink:label="lab_ifrs-full_LeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance at beginning of period</link:label>
    <link:label id="lab_ifrs-full_LeaseLiabilities_cbb5373f-fc6f-4496-873c-3fa3f3075680_periodEndLabel_en-US" xlink:label="lab_ifrs-full_LeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance at end of period</link:label>
    <link:label id="lab_ifrs-full_LeaseLiabilities_label_en-US" xlink:label="lab_ifrs-full_LeaseLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LeaseLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LeaseLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LeaseLiabilities" xlink:to="lab_ifrs-full_LeaseLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelxiusTorresChileHoldingS.A.Member_6c8b5ee6-3a35-4844-b071-ddebbdde5ea6_terseLabel_en-US" xlink:label="lab_tef_TelxiusTorresChileHoldingS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Chile Holding, S.A.</link:label>
    <link:label id="lab_tef_TelxiusTorresChileHoldingS.A.Member_label_en-US" xlink:label="lab_tef_TelxiusTorresChileHoldingS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Chile Holding S.A. [Member]</link:label>
    <link:label id="lab_tef_TelxiusTorresChileHoldingS.A.Member_documentation_en-US" xlink:label="lab_tef_TelxiusTorresChileHoldingS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Chile Holding S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusTorresChileHoldingS.A.Member" xlink:href="tef-20221231.xsd#tef_TelxiusTorresChileHoldingS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusTorresChileHoldingS.A.Member" xlink:to="lab_tef_TelxiusTorresChileHoldingS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_d9c8af1c-d64f-4a22-9241-a1b8a38047d6_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:label id="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_label_en-US" xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2032Member_f09d5573-0af6-40ca-b3a0-623f03cd2546_terseLabel_en-US" xlink:label="lab_tef_Expiringin2032Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2032</link:label>
    <link:label id="lab_tef_Expiringin2032Member_label_en-US" xlink:label="lab_tef_Expiringin2032Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2032 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2032Member_documentation_en-US" xlink:label="lab_tef_Expiringin2032Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2032 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2032Member" xlink:href="tef-20221231.xsd#tef_Expiringin2032Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2032Member" xlink:to="lab_tef_Expiringin2032Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Equity_360885cc-228f-4ada-bbb0-0bffd548a33e_totalLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EQUITY</link:label>
    <link:label id="lab_ifrs-full_Equity_5aa07b00-b093-44b3-961b-006b2b385420_periodStartLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial position, beginning balance</link:label>
    <link:label id="lab_ifrs-full_Equity_8934cedb-7382-410d-ad42-2bf7a2300e01_periodEndLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial position, ending balance</link:label>
    <link:label id="lab_ifrs-full_Equity_80a731ea-de36-4c3d-b3df-05fbee96e4a0_terseLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_ifrs-full_Equity_abf0904b-b97c-4217-a5fa-af39e28d239a_netLabel_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Group&#8217;s share in equity</link:label>
    <link:label id="lab_ifrs-full_Equity_label_en-US" xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Equity" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Equity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Equity" xlink:to="lab_ifrs-full_Equity" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea_784bf4a8-e852-44a2-8644-61511bb1c9d2_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Population in service area (as a percent)</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea_label_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Percentage of Total Population in Service Area</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Percentage of Total Population in Service Area</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea" xlink:to="lab_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsPossibleTermExtension_653ba2b6-8e3c-4718-a674-792532b91e70_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsPossibleTermExtension" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Possible term extension</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPossibleTermExtension_label_en-US" xlink:label="lab_tef_RegulatoryOperationsPossibleTermExtension" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Possible Term Extension</link:label>
    <link:label id="lab_tef_RegulatoryOperationsPossibleTermExtension_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsPossibleTermExtension" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Possible Term Extension</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsPossibleTermExtension" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsPossibleTermExtension"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsPossibleTermExtension" xlink:to="lab_tef_RegulatoryOperationsPossibleTermExtension" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaGermanyGmbHCoOHGMember_d82afd17-eeeb-451c-87c1-144e794e7670_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGermanyGmbHCoOHGMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Germany GmbH &amp; Co. OHG</link:label>
    <link:label id="lab_tef_TelefonicaGermanyGmbHCoOHGMember_label_en-US" xlink:label="lab_tef_TelefonicaGermanyGmbHCoOHGMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Germany GmbH &amp; Co OHG [Member]</link:label>
    <link:label id="lab_tef_TelefonicaGermanyGmbHCoOHGMember_documentation_en-US" xlink:label="lab_tef_TelefonicaGermanyGmbHCoOHGMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Germany GmbH &amp; Co OHG [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaGermanyGmbHCoOHGMember" xlink:href="tef-20221231.xsd#tef_TelefonicaGermanyGmbHCoOHGMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaGermanyGmbHCoOHGMember" xlink:to="lab_tef_TelefonicaGermanyGmbHCoOHGMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NonadjustingEventsMember_e14b3306-0672-4378-adcc-f05dc76391fb_terseLabel_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-adjusting events after reporting period</link:label>
    <link:label id="lab_ifrs-full_NonadjustingEventsMember_label_en-US" xlink:label="lab_ifrs-full_NonadjustingEventsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-adjusting events after reporting period [member]</link:label>
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    <link:label id="lab_tef_NumberOfPremisesCoveredByFTTHNetwork_4f1c23ee-7752-4915-b544-d8f4af31619d_terseLabel_en-US" xlink:label="lab_tef_NumberOfPremisesCoveredByFTTHNetwork" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of premises covered by FTTH network</link:label>
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    <link:label id="lab_tef_TelxiusCablePanamaS.A.Member_395e2869-4b32-44b4-ab9e-ea49434a74de_terseLabel_en-US" xlink:label="lab_tef_TelxiusCablePanamaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable Panam&#225;, S.A. Installation and operation of telecommunications networks for wholesalers</link:label>
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    <link:label id="lab_tef_TerraNetworksArgentinaS.A.Member_1f8e360a-75cf-4688-ad00-87d909e7239d_terseLabel_en-US" xlink:label="lab_tef_TerraNetworksArgentinaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telfisa Global, B.V. Integrated cash management, consulting and financial support for Group companies</link:label>
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    <link:label id="lab_ifrs-full_ConstructionInProgressMember_fe14e12b-3b1d-4cab-aef2-42f4fb4b6e52_terseLabel_en-US" xlink:label="lab_ifrs-full_ConstructionInProgressMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PP&amp;E in progress</link:label>
    <link:label id="lab_ifrs-full_ConstructionInProgressMember_label_en-US" xlink:label="lab_ifrs-full_ConstructionInProgressMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Construction in progress [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ConstructionInProgressMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ConstructionInProgressMember"/>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax"/>
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    <link:label id="lab_tef_IncomeStatementLocationDomain_f837eb4f-46ac-4760-adf5-f29dce77a51a_terseLabel_en-US" xlink:label="lab_tef_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:label id="lab_tef_IncomeStatementLocationDomain_label_en-US" xlink:label="lab_tef_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:label id="lab_tef_IncomeStatementLocationDomain_documentation_en-US" xlink:label="lab_tef_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Domain] for Income Statement Location [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncomeStatementLocationDomain" xlink:href="tef-20221231.xsd#tef_IncomeStatementLocationDomain"/>
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    <link:label id="lab_tef_VentenManagementLimitedMember_d4f2d7da-e25f-47bb-be16-1313c88b7077_terseLabel_en-US" xlink:label="lab_tef_VentenManagementLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Venten Management Limited</link:label>
    <link:label id="lab_tef_VentenManagementLimitedMember_label_en-US" xlink:label="lab_tef_VentenManagementLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Venten Management Limited [Member]</link:label>
    <link:label id="lab_tef_VentenManagementLimitedMember_documentation_en-US" xlink:label="lab_tef_VentenManagementLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Venten Management Limited [Member]</link:label>
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    <link:label id="lab_ifrs-full_LicencesMember_b2f3b9d7-cfde-4877-bf0d-d9701adcc189_terseLabel_en-US" xlink:label="lab_ifrs-full_LicencesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Licenses</link:label>
    <link:label id="lab_ifrs-full_LicencesMember_label_en-US" xlink:label="lab_ifrs-full_LicencesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Licences [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LicencesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LicencesMember"/>
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    <link:label id="lab_tef_CurrencyLineItems_73fda8da-f7a2-4df1-8b91-c79f70a59c2b_terseLabel_en-US" xlink:label="lab_tef_CurrencyLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Currency [Line Items]</link:label>
    <link:label id="lab_tef_CurrencyLineItems_label_en-US" xlink:label="lab_tef_CurrencyLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Currency [Line Items]</link:label>
    <link:label id="lab_tef_CurrencyLineItems_documentation_en-US" xlink:label="lab_tef_CurrencyLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Currency</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrencyLineItems" xlink:href="tef-20221231.xsd#tef_CurrencyLineItems"/>
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    <link:label id="lab_tef_O2WorldwideLimitedMember_4351f25b-a449-4a0c-a952-1c97b481fbd1_terseLabel_en-US" xlink:label="lab_tef_O2WorldwideLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Worldwide Limited</link:label>
    <link:label id="lab_tef_O2WorldwideLimitedMember_label_en-US" xlink:label="lab_tef_O2WorldwideLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Worldwide Limited [Member]</link:label>
    <link:label id="lab_tef_O2WorldwideLimitedMember_documentation_en-US" xlink:label="lab_tef_O2WorldwideLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Worldwide Limited [Member]</link:label>
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    <link:label id="lab_tef_CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers_40fdd336-22a3-4d63-ae0b-d41c6e3cd76f_terseLabel_en-US" xlink:label="lab_tef_CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capitalized costs (Note 23)</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory_af06523a-f70c-4e12-b86e-5cb6908c15a5_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Parties</link:label>
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    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_3f2c3d2e-f636-41db-986c-2618191494c9_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans</link:label>
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    <link:label id="lab_tef_FonditelGestionSoc.GestoradeInstitucionesdeInversionColectivaMember_7fbba08c-de1e-4fb8-a202-9d5d9d7df423_terseLabel_en-US" xlink:label="lab_tef_FonditelGestionSoc.GestoradeInstitucionesdeInversionColectivaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lotca Servicios Integrales, S.L. Aircraft ownership and operation</link:label>
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    <link:label id="lab_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations_a5a485ef-8fd5-4d64-bc56-22ae063f9578_terseLabel_en-US" xlink:label="lab_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maturity of performance obligations</link:label>
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    <link:label id="lab_tef_TelefonicaGlobalSolutionsMexicoSAMember_bbde4eb5-5130-4904-9887-3081d023e358_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGlobalSolutionsMexicoSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Digital Espa&#241;a, S.L. Developer Telco Services Holding Company</link:label>
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    <link:label id="lab_tef_RenewalOfRadioFrequencies2015Member_7216add9-c511-4391-833f-7b5120080652_terseLabel_en-US" xlink:label="lab_tef_RenewalOfRadioFrequencies2015Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Renewal of Radio Frequencies 2015</link:label>
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    <link:label id="lab_tef_DisposalOfInvestmentsSellingPrice_9f75d3a7-bdc6-4730-8bb3-54e00242fbdc_terseLabel_en-US" xlink:label="lab_tef_DisposalOfInvestmentsSellingPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Selling price</link:label>
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    <link:label id="lab_ifrs-full_IntangibleAssetsUnderDevelopmentMember_eac0f852-fbc1-4480-ab30-5cc9300bd2e2_terseLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets in process</link:label>
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    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_e657e0f3-0e93-402d-8dc7-396f87604333_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment</link:label>
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    <link:label id="lab_ifrs-full_BorrowingsByNameAxis_7beed14f-4975-4fb2-bbb2-98f2ec68da78_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings by name [axis]</link:label>
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    <link:label id="lab_tef_OnnetFibraColombiaSASMember_3ae73222-22a2-447c-afe3-d0cf6e0e3f67_terseLabel_en-US" xlink:label="lab_tef_OnnetFibraColombiaSASMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Onnet Fibra Colombia S.A.S.</link:label>
    <link:label id="lab_tef_OnnetFibraColombiaSASMember_label_en-US" xlink:label="lab_tef_OnnetFibraColombiaSASMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Onnet Fibra Colombia S.A.S. [Member]</link:label>
    <link:label id="lab_tef_OnnetFibraColombiaSASMember_documentation_en-US" xlink:label="lab_tef_OnnetFibraColombiaSASMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Onnet Fibra Colombia S.A.S.</link:label>
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    <link:label id="lab_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock_b7950918-e887-404c-9f48-aaa0b6297263_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Gain on Sale of Disposal Group</link:label>
    <link:label id="lab_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock_label_en-US" xlink:label="lab_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Gain (Loss) On Sale Of Disposal Group [Text Block]</link:label>
    <link:label id="lab_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock_documentation_en-US" xlink:label="lab_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Gain (Loss) On Sale Of Disposal Group</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock"/>
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    <link:label id="lab_tef_ServicesMember_288495c1-eac7-478d-8d41-33e683512a4c_terseLabel_en-US" xlink:label="lab_tef_ServicesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contractual liabilities, services</link:label>
    <link:label id="lab_tef_ServicesMember_label_en-US" xlink:label="lab_tef_ServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Services [Member]</link:label>
    <link:label id="lab_tef_ServicesMember_documentation_en-US" xlink:label="lab_tef_ServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Services [Member]</link:label>
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    <link:label id="lab_tef_CashFlowStatementsAbstract_e777b33d-0ce8-4bf7-a87d-0a99ad44fe5f_terseLabel_en-US" xlink:label="lab_tef_CashFlowStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash Flow Statements [Abstract]</link:label>
    <link:label id="lab_tef_CashFlowStatementsAbstract_label_en-US" xlink:label="lab_tef_CashFlowStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash Flow Statements [Abstract]</link:label>
    <link:label id="lab_tef_CashFlowStatementsAbstract_documentation_en-US" xlink:label="lab_tef_CashFlowStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash Flow Statements [Abstract]</link:label>
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    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_9bd7b165-7853-46a5-880d-5b155091e91c_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade payables</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current trade payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers"/>
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    <link:label id="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement_0bac01f2-9795-417f-9213-50bf47c3ce94_terseLabel_en-US" xlink:label="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration to be transferred, purchase of assets, capacity agreement</link:label>
    <link:label id="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement_label_en-US" xlink:label="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration to be transferred, purchase of assets, Capacity Agreement</link:label>
    <link:label id="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement_documentation_en-US" xlink:label="lab_tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration to be transferred, purchase of assets, Capacity Agreement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement" xlink:href="tef-20221231.xsd#tef_ConsiderationToBeTransferredPurchaseOfAssetsCapacityAgreement"/>
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    <link:label id="lab_tef_Undiscountedoperatingleasepaymentstobepaid_389990a2-2dee-4008-90b6-b9da114d33a3_terseLabel_en-US" xlink:label="lab_tef_Undiscountedoperatingleasepaymentstobepaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Undiscounted operating lease payments to be paid</link:label>
    <link:label id="lab_tef_Undiscountedoperatingleasepaymentstobepaid_label_en-US" xlink:label="lab_tef_Undiscountedoperatingleasepaymentstobepaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Undiscounted operating lease payments to be paid</link:label>
    <link:label id="lab_tef_Undiscountedoperatingleasepaymentstobepaid_documentation_en-US" xlink:label="lab_tef_Undiscountedoperatingleasepaymentstobepaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Undiscounted operating lease payments to be paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Undiscountedoperatingleasepaymentstobepaid" xlink:href="tef-20221231.xsd#tef_Undiscountedoperatingleasepaymentstobepaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Undiscountedoperatingleasepaymentstobepaid" xlink:to="lab_tef_Undiscountedoperatingleasepaymentstobepaid" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaTechIrelandLimitedMember_8532bc0e-7631-4078-a916-487c48408fe9_terseLabel_en-US" xlink:label="lab_tef_TelefonicaTechIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech Ireland Limited</link:label>
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    <link:label id="lab_tef_TelefonicaTechIrelandLimitedMember_documentation_en-US" xlink:label="lab_tef_TelefonicaTechIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech Ireland Limited</link:label>
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    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_57e1bb5b-8246-44fa-a5ec-85e51c62b5dd_terseLabel_en-US" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Goodwill impairment (Note 7)</link:label>
    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_label_en-US" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment loss recognised in profit or loss, goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestRateSwapContractMember_ec9dd584-637c-4807-92a4-daeb21dfd90e_terseLabel_en-US" xlink:label="lab_ifrs-full_InterestRateSwapContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest rate swaps</link:label>
    <link:label id="lab_ifrs-full_InterestRateSwapContractMember_label_en-US" xlink:label="lab_ifrs-full_InterestRateSwapContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest rate swap contract [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestRateSwapContractMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestRateSwapContractMember"/>
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    <link:label id="lab_tef_TelefnicaTechIncMember_8c1990a1-4b02-4d52-8b59-c7712983e070_terseLabel_en-US" xlink:label="lab_tef_TelefnicaTechIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Tech Inc.</link:label>
    <link:label id="lab_tef_TelefnicaTechIncMember_label_en-US" xlink:label="lab_tef_TelefnicaTechIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Tech Inc. [Member]</link:label>
    <link:label id="lab_tef_TelefnicaTechIncMember_documentation_en-US" xlink:label="lab_tef_TelefnicaTechIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Tech Inc.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefnicaTechIncMember" xlink:href="tef-20221231.xsd#tef_TelefnicaTechIncMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefnicaTechIncMember" xlink:to="lab_tef_TelefnicaTechIncMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfCitiesWith5GNetwork_98a424f3-9d4f-42cc-b749-8b1bcbd9dd82_terseLabel_en-US" xlink:label="lab_tef_NumberOfCitiesWith5GNetwork" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of cities with 5G network</link:label>
    <link:label id="lab_tef_NumberOfCitiesWith5GNetwork_label_en-US" xlink:label="lab_tef_NumberOfCitiesWith5GNetwork" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Cities With 5G Network</link:label>
    <link:label id="lab_tef_NumberOfCitiesWith5GNetwork_documentation_en-US" xlink:label="lab_tef_NumberOfCitiesWith5GNetwork" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Cities With 5G Network</link:label>
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    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset_e24bf458-b19f-4bb6-82f6-c8d68b301e82_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions</link:label>
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    <link:label id="lab_ifrs-full_WeightedAverageMember_6e8a7449-38bf-4623-95c7-3f02fcab7eb3_terseLabel_en-US" xlink:label="lab_ifrs-full_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average [member]</link:label>
    <link:label id="lab_ifrs-full_WeightedAverageMember_label_en-US" xlink:label="lab_ifrs-full_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_WeightedAverageMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_WeightedAverageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageMember" xlink:to="lab_ifrs-full_WeightedAverageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ExpiringIn20232035Option2Member_636ea3d9-95a8-4415-a378-41ae80141332_terseLabel_en-US" xlink:label="lab_tef_ExpiringIn20232035Option2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2023-2035, Option 2</link:label>
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    <link:label id="lab_tef_InclusionOfCompaniesRightOfUseAssets_9be8cdb2-9432-4e39-a0c6-ca29bbcbb022_terseLabel_en-US" xlink:label="lab_tef_InclusionOfCompaniesRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business combinations</link:label>
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    <link:label id="lab_tef_KeyManagementPersonnelCompensationSalary_7f603fb9-54c8-4a0f-8647-a2d4e040a3d2_terseLabel_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationSalary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Salary</link:label>
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    <link:label id="lab_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio_4c66411b-ab67-4fb7-9753-7ecee354d907_terseLabel_en-US" xlink:label="lab_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">OIBDA margin (as a percent)</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESAPRIL20171Member_e992bf0f-2b7e-456f-ae71-d3aa0b29c397_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESAPRIL20171Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES APRIL 2017 1</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis_8cf639e5-40ab-4d25-8297-b44ba6602eba_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Classes of entity's own equity instruments [axis]</link:label>
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    <link:label id="lab_ifrs-full_ActuarialAssumptionsAxis_7b945158-1b10-4583-87d6-cd792cb75635_terseLabel_en-US" xlink:label="lab_ifrs-full_ActuarialAssumptionsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Actuarial assumptions [axis]</link:label>
    <link:label id="lab_ifrs-full_ActuarialAssumptionsAxis_label_en-US" xlink:label="lab_ifrs-full_ActuarialAssumptionsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Actuarial assumptions [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ActuarialAssumptionsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ActuarialAssumptionsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ActuarialAssumptionsAxis" xlink:to="lab_ifrs-full_ActuarialAssumptionsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TELEFEMISIONESMARCH20181Member_8f179617-4f9d-4096-87fc-484ce73e0491_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESMARCH20181Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES MARCH 2018 1</link:label>
    <link:label id="lab_tef_TELEFEMISIONESMARCH20181Member_label_en-US" xlink:label="lab_tef_TELEFEMISIONESMARCH20181Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES MARCH 2018 1 [Member]</link:label>
    <link:label id="lab_tef_TELEFEMISIONESMARCH20181Member_documentation_en-US" xlink:label="lab_tef_TELEFEMISIONESMARCH20181Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES MARCH 2018 1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TELEFEMISIONESMARCH20181Member" xlink:href="tef-20221231.xsd#tef_TELEFEMISIONESMARCH20181Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TELEFEMISIONESMARCH20181Member" xlink:to="lab_tef_TELEFEMISIONESMARCH20181Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CashFlowsFromOperationsWithOtherEquityHolders_e453ce7c-6bd1-4dd2-afab-4b9c468bc7d6_negatedTerseLabel_en-US" xlink:label="lab_tef_CashFlowsFromOperationsWithOtherEquityHolders" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operations with other equity holders</link:label>
    <link:label id="lab_tef_CashFlowsFromOperationsWithOtherEquityHolders_label_en-US" xlink:label="lab_tef_CashFlowsFromOperationsWithOtherEquityHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash Flows From Operations With Other Equity Holders</link:label>
    <link:label id="lab_tef_CashFlowsFromOperationsWithOtherEquityHolders_documentation_en-US" xlink:label="lab_tef_CashFlowsFromOperationsWithOtherEquityHolders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash Flows From Operations With Other Equity Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CashFlowsFromOperationsWithOtherEquityHolders" xlink:href="tef-20221231.xsd#tef_CashFlowsFromOperationsWithOtherEquityHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CashFlowsFromOperationsWithOtherEquityHolders" xlink:to="lab_tef_CashFlowsFromOperationsWithOtherEquityHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LaterThanFiveYearsMember_7f649c10-51a0-4abe-b6cb-fce824b373bb_verboseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent years</link:label>
    <link:label id="lab_ifrs-full_LaterThanFiveYearsMember_c60121ac-7233-4846-bb48-9a24a000bcc6_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent years</link:label>
    <link:label id="lab_ifrs-full_LaterThanFiveYearsMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Later than five years [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LaterThanFiveYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanFiveYearsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanFiveYearsMember" xlink:to="lab_ifrs-full_LaterThanFiveYearsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_87808d54-1296-4abe-8181-a789892b8abb_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Main Companies of the Telefonica Group</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of subsidiaries [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory"/>
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    <link:label id="lab_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_85660f6a-f617-43bc-b4c3-4d7258eeca99_terseLabel_en-US" xlink:label="lab_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other items</link:label>
    <link:label id="lab_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_label_en-US" xlink:label="lab_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key management personnel compensation, other long-term employee benefits</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:to="lab_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DefinedBenefitPlansAxis_02b9f92a-a432-446e-a59f-46afc926d61b_terseLabel_en-US" xlink:label="lab_ifrs-full_DefinedBenefitPlansAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Defined benefit plans [axis]</link:label>
    <link:label id="lab_ifrs-full_DefinedBenefitPlansAxis_label_en-US" xlink:label="lab_ifrs-full_DefinedBenefitPlansAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Defined benefit plans [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DefinedBenefitPlansAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DefinedBenefitPlansAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DefinedBenefitPlansAxis" xlink:to="lab_ifrs-full_DefinedBenefitPlansAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DepreciationExpense_00a41bb4-a490-4ddf-b33e-039fea76f2c5_terseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment (Note 8)</link:label>
    <link:label id="lab_ifrs-full_DepreciationExpense_label_en-US" xlink:label="lab_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepreciationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DepreciationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationExpense" xlink:to="lab_ifrs-full_DepreciationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentstoSuppliersLineItems_47522012-e817-426a-86c8-db257c4d6dd1_terseLabel_en-US" xlink:label="lab_tef_PaymentstoSuppliersLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to Suppliers [Line Items]</link:label>
    <link:label id="lab_tef_PaymentstoSuppliersLineItems_label_en-US" xlink:label="lab_tef_PaymentstoSuppliersLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to Suppliers [Line Items]</link:label>
    <link:label id="lab_tef_PaymentstoSuppliersLineItems_documentation_en-US" xlink:label="lab_tef_PaymentstoSuppliersLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Line Items] for Payments to Suppliers [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentstoSuppliersLineItems" xlink:href="tef-20221231.xsd#tef_PaymentstoSuppliersLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentstoSuppliersLineItems" xlink:to="lab_tef_PaymentstoSuppliersLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageOfNetFinancialDebtHeld_09a7dd3e-d2f7-470b-be49-f2083912f7be_terseLabel_en-US" xlink:label="lab_tef_PercentageOfNetFinancialDebtHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of net financial debt held (as a percent)</link:label>
    <link:label id="lab_tef_PercentageOfNetFinancialDebtHeld_label_en-US" xlink:label="lab_tef_PercentageOfNetFinancialDebtHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Net Financial Debt Held</link:label>
    <link:label id="lab_tef_PercentageOfNetFinancialDebtHeld_documentation_en-US" xlink:label="lab_tef_PercentageOfNetFinancialDebtHeld" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Net Financial Debt Held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfNetFinancialDebtHeld" xlink:href="tef-20221231.xsd#tef_PercentageOfNetFinancialDebtHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PercentageOfNetFinancialDebtHeld" xlink:to="lab_tef_PercentageOfNetFinancialDebtHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrencySwapContractMember_2387b4d7-5921-4ad9-a512-d7d453ce36db_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrencySwapContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Currency swaps</link:label>
    <link:label id="lab_ifrs-full_CurrencySwapContractMember_label_en-US" xlink:label="lab_ifrs-full_CurrencySwapContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Currency swap contract [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrencySwapContractMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrencySwapContractMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrencySwapContractMember" xlink:to="lab_ifrs-full_CurrencySwapContractMember" xlink:type="arc" order="1"/>
    <link:label id="lab_country_MX_7ece85f0-1dbe-4cac-b354-51444f8367b3_terseLabel_en-US" xlink:label="lab_country_MX" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">MEXICO</link:label>
    <link:label id="lab_country_MX_label_en-US" xlink:label="lab_country_MX" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">MEXICO</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_MX" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_MX"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_MX" xlink:to="lab_country_MX" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfCompensationAbstract_97470fba-fd31-48ba-a505-f20b087a4439_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfCompensationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Compensation [Abstract]</link:label>
    <link:label id="lab_tef_DisclosureOfCompensationAbstract_label_en-US" xlink:label="lab_tef_DisclosureOfCompensationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Compensation [Abstract]</link:label>
    <link:label id="lab_tef_DisclosureOfCompensationAbstract_documentation_en-US" xlink:label="lab_tef_DisclosureOfCompensationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Compensation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfCompensationAbstract" xlink:href="tef-20221231.xsd#tef_DisclosureOfCompensationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfCompensationAbstract" xlink:to="lab_tef_DisclosureOfCompensationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract_2d5b5148-00d2-421e-8d6e-5f9173116ec3_terseLabel_en-US" xlink:label="lab_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets And Liabilities Classified As Held For Sale [Abstract]</link:label>
    <link:label id="lab_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract_label_en-US" xlink:label="lab_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets And Liabilities Classified As Held For Sale [Abstract]</link:label>
    <link:label id="lab_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract_documentation_en-US" xlink:label="lab_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets And Liabilities Classified As Held For Sale [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract" xlink:href="tef-20221231.xsd#tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract" xlink:to="lab_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions_320397a1-5482-450d-986a-840978f46092_terseLabel_en-US" xlink:label="lab_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finance arrangements: loans, capital contributions and others (borrower)</link:label>
    <link:label id="lab_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions_label_en-US" xlink:label="lab_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers under finance agreements from entity, related party transactions</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions" xlink:to="lab_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProportionOfOwnershipInterestInEquityMethodInvestment_51445908-1784-4088-b289-179b44a7a357_terseLabel_en-US" xlink:label="lab_tef_ProportionOfOwnershipInterestInEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of ownership interest in equity method investment</link:label>
    <link:label id="lab_tef_ProportionOfOwnershipInterestInEquityMethodInvestment_label_en-US" xlink:label="lab_tef_ProportionOfOwnershipInterestInEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion Of Ownership Interest In Equity Method Investment</link:label>
    <link:label id="lab_tef_ProportionOfOwnershipInterestInEquityMethodInvestment_documentation_en-US" xlink:label="lab_tef_ProportionOfOwnershipInterestInEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion Of Ownership Interest In Equity Method Investment</link:label>
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    <link:label id="lab_tef_TelefonicaTechNorthernIrelandHoldingsLimitedMember_094c56dd-fa03-4529-9bf2-7ebf394902b1_terseLabel_en-US" xlink:label="lab_tef_TelefonicaTechNorthernIrelandHoldingsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech Northern Ireland Holdings Limited</link:label>
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    <link:label id="lab_tef_TelefonicaMovilesdelUruguaySAMember_a4f31b5f-7826-43dc-8cca-103831c09b7d_terseLabel_en-US" xlink:label="lab_tef_TelefonicaMovilesdelUruguaySAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Media Networks Latin America, S.A.C Telecommunications research activities and proyects</link:label>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationAmountOfAdditionalSharesReceivedByExecutiveDirectors_7c1b8a3b-8f07-40b9-bfbd-4e7b50291a23_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationAmountOfAdditionalSharesReceivedByExecutiveDirectors" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of additional shares received by Executive Directors (in shares)</link:label>
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    <link:label id="lab_tef_NumberOfMicroSitesUnderOperation_14116a34-45cb-4c9e-96b0-0b3112833931_terseLabel_en-US" xlink:label="lab_tef_NumberOfMicroSitesUnderOperation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of micro sites under operation</link:label>
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    <link:label id="lab_ifrs-full_HedgingInstrumentsMember_0ce3a67e-7e10-444a-a1ac-c29b394bffbd_terseLabel_en-US" xlink:label="lab_ifrs-full_HedgingInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging instruments</link:label>
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    <link:label id="lab_tef_CurrentTaxPayablesRecognisedAsOfAcquisitionDate_c747a252-2e6f-485c-afd7-b38f25ca74ab_negatedTerseLabel_en-US" xlink:label="lab_tef_CurrentTaxPayablesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current tax payables</link:label>
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    <link:label id="lab_tef_OtherDebtInstrumentsMember_d6359ac5-1386-49eb-9124-f2eaa644e6dd_terseLabel_en-US" xlink:label="lab_tef_OtherDebtInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
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    <link:label id="lab_tef_SalesOfHandsetsMember_8c8c090a-e878-4a85-8aaf-a187b6800fa3_terseLabel_en-US" xlink:label="lab_tef_SalesOfHandsetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contractual liabilities, sales of handsets</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfFairValueOfPlanAssetsTable_069327de-8aab-492a-8c02-7898210561c0_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFairValueOfPlanAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of fair value of plan assets [table]</link:label>
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    <link:label id="lab_tef_FinancialInstrumentsExcludingDerivativesMember_967b274f-af5f-4604-b9c7-7e02cc644fed_verboseLabel_en-US" xlink:label="lab_tef_FinancialInstrumentsExcludingDerivativesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">No derivatives instruments of accounting hedges</link:label>
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    <link:label id="lab_ifrs-full_ContingentLiabilitiesMember_ee4d96f1-ad1e-4c08-8f31-9c0bc28b7ec5_terseLabel_en-US" xlink:label="lab_ifrs-full_ContingentLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contingent liabilities [member]</link:label>
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    <link:label id="lab_tef_OtherRisksMember_a5a395d6-7e7e-4bd6-8e28-993ee95b2526_terseLabel_en-US" xlink:label="lab_tef_OtherRisksMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other derivatives</link:label>
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    <link:label id="lab_tef_OtherRisksMember_documentation_en-US" xlink:label="lab_tef_OtherRisksMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US"></link:label>
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    <link:label id="lab_tef_CapMember_6664504a-4b06-49db-875a-16542802fede_terseLabel_en-US" xlink:label="lab_tef_CapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Caps</link:label>
    <link:label id="lab_tef_CapMember_label_en-US" xlink:label="lab_tef_CapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cap [Member]</link:label>
    <link:label id="lab_tef_CapMember_documentation_en-US" xlink:label="lab_tef_CapMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cap [Member]</link:label>
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    <link:label id="lab_tef_BilateralLoanDueJanuary62022Member_841c8622-a5cd-4b2e-aa19-1d5b10d4a086_terseLabel_en-US" xlink:label="lab_tef_BilateralLoanDueJanuary62022Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due January 6, 2022</link:label>
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    <link:label id="lab_ifrs-full_IssuedCapital_50d28f59-d5c5-476c-b07e-83bd199fe66c_terseLabel_en-US" xlink:label="lab_ifrs-full_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share capital amount</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfAdditionalInformationExplanatory_3e35b1d7-81ae-4605-bbd4-a25598521463_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Information</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAdditionalInformationExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of additional information [text block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:to="lab_ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LongtermDeposits_1c2907a2-4737-4ce3-9806-d5539e68238d_terseLabel_en-US" xlink:label="lab_ifrs-full_LongtermDeposits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term deposits</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LongtermDeposits" xlink:to="lab_ifrs-full_LongtermDeposits" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LegalProceedingsProvisionMember_c11c4137-4cd0-4cfe-8395-f7d1da758f0d_terseLabel_en-US" xlink:label="lab_ifrs-full_LegalProceedingsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Civil proceedings</link:label>
    <link:label id="lab_ifrs-full_LegalProceedingsProvisionMember_d230085e-4351-4726-832c-0bcc581df869_verboseLabel_en-US" xlink:label="lab_ifrs-full_LegalProceedingsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Civil proceedings</link:label>
    <link:label id="lab_ifrs-full_LegalProceedingsProvisionMember_label_en-US" xlink:label="lab_ifrs-full_LegalProceedingsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal proceedings provision [member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LegalProceedingsProvisionMember" xlink:to="lab_ifrs-full_LegalProceedingsProvisionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComponentsOfEquityAxis_3b6e3ec5-1a6d-4b2c-a201-be724cf468d0_terseLabel_en-US" xlink:label="lab_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Components of equity [axis]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_AccretionOfProvisionsAndOtherLiabilities" xlink:href="tef-20221231.xsd#tef_AccretionOfProvisionsAndOtherLiabilities"/>
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    <link:label id="lab_tef_NumberOfPowerPurchaseAgreementsSigned_f52f3e6a-8915-49d3-bd7a-fb6e352283bf_terseLabel_en-US" xlink:label="lab_tef_NumberOfPowerPurchaseAgreementsSigned" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of power purchase agreements signed</link:label>
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    <link:label id="lab_tef_NonControllingInterestsOfTelxiusTelecomSATelecommunicationsTowersDivisionsMember_234eea34-2bd4-4152-8db4-d80cd187ae33_terseLabel_en-US" xlink:label="lab_tef_NonControllingInterestsOfTelxiusTelecomSATelecommunicationsTowersDivisionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to non-controlling interests of Telxius for the sale of the telecommunications tower divisions (see Note 17.h)</link:label>
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    <link:label id="lab_ifrs-full_EquityAndLiabilitiesAbstract_eb63eeb6-e387-4011-ba93-f7a5a4dd723a_terseLabel_en-US" xlink:label="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EQUITY AND LIABILITIES</link:label>
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    <link:label id="lab_tef_CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations_cecb2122-b4f4-4c34-8d89-bdda5484afe0_terseLabel_en-US" xlink:label="lab_tef_CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash transferred, additional contractual liabilities from business combinations</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations" xlink:href="tef-20221231.xsd#tef_CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations"/>
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    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayables_51f265be-b3a8-4b8c-9da3-6d2500d1af1f_totalLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherCurrentPayables" xlink:to="lab_ifrs-full_TradeAndOtherCurrentPayables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTradeReceivables_821fe013-bcea-4bbb-afb1-0f80e0bd7b00_verboseLabel_en-US" xlink:label="lab_ifrs-full_CurrentTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade receivables</link:label>
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    <link:label id="lab_ifrs-full_CurrentTradeReceivables_label_en-US" xlink:label="lab_ifrs-full_CurrentTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current trade receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentTradeReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTradeReceivables" xlink:to="lab_ifrs-full_CurrentTradeReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_ARS_83571001-089b-4105-88e8-b2f3574e6cbd_verboseLabel_en-US" xlink:label="lab_currency_ARS" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Argentine peso</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESJANUARY2013Member_5e414201-791b-4a3b-8251-8b412a35f1e5_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESJANUARY2013Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF EMISIONES JANUARY 2013</link:label>
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    <link:label id="lab_ifrs-full_LifeInsuranceContractsMember_13491133-ae18-4e7c-949f-e745c3dcbf43_terseLabel_en-US" xlink:label="lab_ifrs-full_LifeInsuranceContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Life insurance premiums</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LifeInsuranceContractsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LifeInsuranceContractsMember"/>
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    <link:label id="lab_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm_2363cc21-4564-499e-82d9-df977411b456_terseLabel_en-US" xlink:label="lab_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Price renewal, renewal of radio frequencies associated with the provision of personal mobile services, term</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm" xlink:href="tef-20221231.xsd#tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm"/>
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    <link:label id="lab_tef_SubordinatedSecuritiesIssuedFebruary2021Member_be77703b-1659-40d8-828a-1bc9d0862a22_terseLabel_en-US" xlink:label="lab_tef_SubordinatedSecuritiesIssuedFebruary2021Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subordinated securities, issued February 2021</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_SubordinatedSecuritiesIssuedFebruary2021Member" xlink:href="tef-20221231.xsd#tef_SubordinatedSecuritiesIssuedFebruary2021Member"/>
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    <link:label id="lab_ifrs-full_BottomOfRangeMember_9d04a332-7fd8-446f-8766-8d1be13daadf_terseLabel_en-US" xlink:label="lab_ifrs-full_BottomOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_ifrs-full_BottomOfRangeMember_label_en-US" xlink:label="lab_ifrs-full_BottomOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bottom of range [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BottomOfRangeMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BottomOfRangeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BottomOfRangeMember" xlink:to="lab_ifrs-full_BottomOfRangeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine3_4d29b4d7-6c78-4ca0-8c32-25f4c44b3bf9_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line Three</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine3_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine3" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine3"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine3" xlink:to="lab_dei_EntityAddressAddressLine3" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine2_81539ace-e954-45a2-b073-35463bdbc16b_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine2_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine2"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine2" xlink:to="lab_dei_EntityAddressAddressLine2" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_7e980d55-2f5b-4048-9dff-2a536d2d5eb7_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaCybersecurityTechArgentinaSAMember_946d0b1f-1e7b-48d9-b133-b1c158628083_terseLabel_en-US" xlink:label="lab_tef_TelefonicaCybersecurityTechArgentinaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Cybersecurity Tech Argentina S.A.</link:label>
    <link:label id="lab_tef_TelefonicaCybersecurityTechArgentinaSAMember_label_en-US" xlink:label="lab_tef_TelefonicaCybersecurityTechArgentinaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Cybersecurity Tech Argentina S.A. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaCybersecurityTechArgentinaSAMember_documentation_en-US" xlink:label="lab_tef_TelefonicaCybersecurityTechArgentinaSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Cybersecurity Tech Argentina S.A.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaCybersecurityTechArgentinaSAMember" xlink:href="tef-20221231.xsd#tef_TelefonicaCybersecurityTechArgentinaSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaCybersecurityTechArgentinaSAMember" xlink:to="lab_tef_TelefonicaCybersecurityTechArgentinaSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ReceivablesforIndirectTaxesMember_6fdee90a-816a-4e43-9bcb-452031edc9ab_terseLabel_en-US" xlink:label="lab_tef_ReceivablesforIndirectTaxesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term receivables for taxes</link:label>
    <link:label id="lab_tef_ReceivablesforIndirectTaxesMember_label_en-US" xlink:label="lab_tef_ReceivablesforIndirectTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables for Indirect Taxes [Member]</link:label>
    <link:label id="lab_tef_ReceivablesforIndirectTaxesMember_documentation_en-US" xlink:label="lab_tef_ReceivablesforIndirectTaxesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables for Indirect Taxes [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReceivablesforIndirectTaxesMember" xlink:href="tef-20221231.xsd#tef_ReceivablesforIndirectTaxesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ReceivablesforIndirectTaxesMember" xlink:to="lab_tef_ReceivablesforIndirectTaxesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CommitmentsInRelationToJointVentures_525da579-ba31-437d-aa1d-d00f9ee75d59_terseLabel_en-US" xlink:label="lab_ifrs-full_CommitmentsInRelationToJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitments in relation to joint ventures</link:label>
    <link:label id="lab_ifrs-full_CommitmentsInRelationToJointVentures_label_en-US" xlink:label="lab_ifrs-full_CommitmentsInRelationToJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitments in relation to joint ventures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CommitmentsInRelationToJointVentures" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CommitmentsInRelationToJointVentures"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CommitmentsInRelationToJointVentures" xlink:to="lab_ifrs-full_CommitmentsInRelationToJointVentures" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherAdjustments_9fea4f44-44c3-4bb7-89a1-97c6776f91da_terseLabel_en-US" xlink:label="lab_tef_OtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other adjustments</link:label>
    <link:label id="lab_tef_OtherAdjustments_label_en-US" xlink:label="lab_tef_OtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Adjustments</link:label>
    <link:label id="lab_tef_OtherAdjustments_documentation_en-US" xlink:label="lab_tef_OtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherAdjustments" xlink:href="tef-20221231.xsd#tef_OtherAdjustments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherAdjustments" xlink:to="lab_tef_OtherAdjustments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherNoncurrentAssets_03e373ed-cbda-4159-bbf8-3516d8cb13a6_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non-current assets</link:label>
    <link:label id="lab_ifrs-full_OtherNoncurrentAssets_label_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non-current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherNoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherNoncurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherNoncurrentAssets" xlink:to="lab_ifrs-full_OtherNoncurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SpectrumLicensesMember_73decced-d331-4522-936d-c633a26b8408_terseLabel_en-US" xlink:label="lab_tef_SpectrumLicensesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum</link:label>
    <link:label id="lab_tef_SpectrumLicensesMember_label_en-US" xlink:label="lab_tef_SpectrumLicensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum Licenses [Member]</link:label>
    <link:label id="lab_tef_SpectrumLicensesMember_documentation_en-US" xlink:label="lab_tef_SpectrumLicensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum Licenses [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SpectrumLicensesMember" xlink:href="tef-20221231.xsd#tef_SpectrumLicensesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SpectrumLicensesMember" xlink:to="lab_tef_SpectrumLicensesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FirstPaymentMember_1c0718aa-a208-4698-9219-a435564bf905_terseLabel_en-US" xlink:label="lab_tef_FirstPaymentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">First payment</link:label>
    <link:label id="lab_tef_FirstPaymentMember_label_en-US" xlink:label="lab_tef_FirstPaymentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">First payment [Member]</link:label>
    <link:label id="lab_tef_FirstPaymentMember_documentation_en-US" xlink:label="lab_tef_FirstPaymentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">First payment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FirstPaymentMember" xlink:href="tef-20221231.xsd#tef_FirstPaymentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FirstPaymentMember" xlink:to="lab_tef_FirstPaymentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AdatisBGLTDMember_93509f57-7e72-40e3-a024-de9c6a5c4c21_terseLabel_en-US" xlink:label="lab_tef_AdatisBGLTDMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adatis BG LTD</link:label>
    <link:label id="lab_tef_AdatisBGLTDMember_label_en-US" xlink:label="lab_tef_AdatisBGLTDMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adatis BG LTD [Member]</link:label>
    <link:label id="lab_tef_AdatisBGLTDMember_documentation_en-US" xlink:label="lab_tef_AdatisBGLTDMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adatis BG LTD</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AdatisBGLTDMember" xlink:href="tef-20221231.xsd#tef_AdatisBGLTDMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AdatisBGLTDMember" xlink:to="lab_tef_AdatisBGLTDMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BorrowingsByNameMember_22d85cbd-27c1-4031-b848-c52ca531dfaa_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings by name</link:label>
    <link:label id="lab_ifrs-full_BorrowingsByNameMember_label_en-US" xlink:label="lab_ifrs-full_BorrowingsByNameMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings by name [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BorrowingsByNameMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BorrowingsByNameMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BorrowingsByNameMember" xlink:to="lab_ifrs-full_BorrowingsByNameMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Dividends1Axis_93912a19-be84-4557-9cef-c3d154aad793_terseLabel_en-US" xlink:label="lab_tef_Dividends1Axis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends [Axis]</link:label>
    <link:label id="lab_tef_Dividends1Axis_label_en-US" xlink:label="lab_tef_Dividends1Axis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends1 [Axis]</link:label>
    <link:label id="lab_tef_Dividends1Axis_documentation_en-US" xlink:label="lab_tef_Dividends1Axis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends1 [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Dividends1Axis" xlink:href="tef-20221231.xsd#tef_Dividends1Axis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Dividends1Axis" xlink:to="lab_tef_Dividends1Axis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory_0618a0a9-6185-4a06-bdf6-d5ff7f3a8d87_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Breakdown of Contractual Assets and Liabilities, and Capitalized Costs</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of revenue from contracts with customers [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:to="lab_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherCurrentNonFinancialNonTradePayables_85380a72-ce7c-45cb-97f2-2d5403127ab2_verboseLabel_en-US" xlink:label="lab_tef_OtherCurrentNonFinancialNonTradePayables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non-financial non-trade payables</link:label>
    <link:label id="lab_tef_OtherCurrentNonFinancialNonTradePayables_label_en-US" xlink:label="lab_tef_OtherCurrentNonFinancialNonTradePayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Current Non-Financial Non-Trade Payables</link:label>
    <link:label id="lab_tef_OtherCurrentNonFinancialNonTradePayables_documentation_en-US" xlink:label="lab_tef_OtherCurrentNonFinancialNonTradePayables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Non-Financial Non-Trade Payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherCurrentNonFinancialNonTradePayables" xlink:href="tef-20221231.xsd#tef_OtherCurrentNonFinancialNonTradePayables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherCurrentNonFinancialNonTradePayables" xlink:to="lab_tef_OtherCurrentNonFinancialNonTradePayables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherOperatingIncomeExpense_e3c24474-27f3-434e-bf98-6a6c6b99357f_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherOperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other operating income and expenses</link:label>
    <link:label id="lab_ifrs-full_OtherOperatingIncomeExpense_139d6007-6212-47da-b32b-4ab0c68e691b_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherOperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other operating income</link:label>
    <link:label id="lab_ifrs-full_OtherOperatingIncomeExpense_label_en-US" xlink:label="lab_ifrs-full_OtherOperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other operating income (expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherOperatingIncomeExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherOperatingIncomeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherOperatingIncomeExpense" xlink:to="lab_ifrs-full_OtherOperatingIncomeExpense" xlink:type="arc" order="1"/>
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    <link:label id="lab_tef_CivilProceedingsMember_00b0666c-371d-4de7-a22f-176c4a794d54_terseLabel_en-US" xlink:label="lab_tef_CivilProceedingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Civil Proceedings</link:label>
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    <link:label id="lab_tef_DecreaseThroughDistributionsJointVenturesAndAssociates_00cbff8b-088b-4889-8fd9-8c939f7b1103_negatedLabel_en-US" xlink:label="lab_tef_DecreaseThroughDistributionsJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends</link:label>
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    <link:label id="lab_tef_VaubanCAAMember_0faf6c96-dc63-4b6f-a5c9-4316db803064_terseLabel_en-US" xlink:label="lab_tef_VaubanCAAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vauban/CAA</link:label>
    <link:label id="lab_tef_VaubanCAAMember_label_en-US" xlink:label="lab_tef_VaubanCAAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vauban/CAA [Member]</link:label>
    <link:label id="lab_tef_VaubanCAAMember_documentation_en-US" xlink:label="lab_tef_VaubanCAAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vauban/CAA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_VaubanCAAMember" xlink:href="tef-20221231.xsd#tef_VaubanCAAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_VaubanCAAMember" xlink:to="lab_tef_VaubanCAAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Assets_9689743f-5f68-4794-a2fe-06e8fd3feb46_totalLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total allocated assets</link:label>
    <link:label id="lab_ifrs-full_Assets_773fa51f-b072-4eeb-b0e0-6e4fca797f43_verboseLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_ifrs-full_Assets_24b85d4d-d47c-4533-b723-1b2fa9e71109_terseLabel_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total allocated assets</link:label>
    <link:label id="lab_ifrs-full_Assets_label_en-US" xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Assets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Assets" xlink:to="lab_ifrs-full_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContinuingOperationsMember_b5bd9bc7-8e73-4fd6-86db-975477d3a619_terseLabel_en-US" xlink:label="lab_ifrs-full_ContinuingOperationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuing operations [member]</link:label>
    <link:label id="lab_ifrs-full_ContinuingOperationsMember_label_en-US" xlink:label="lab_ifrs-full_ContinuingOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuing operations [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContinuingOperationsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContinuingOperationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContinuingOperationsMember" xlink:to="lab_ifrs-full_ContinuingOperationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesCategoryMember_911b026f-1a4a-4016-8768-bef8ea188975_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, category [member]</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesCategoryMember_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, category [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:to="lab_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_country_VE_9c94eb64-b5f9-42ce-8e1c-456090408ba5_terseLabel_en-US" xlink:label="lab_country_VE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Venezuela</link:label>
    <link:label id="lab_country_VE_label_en-US" xlink:label="lab_country_VE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">VENEZUELA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_VE" xlink:href="https://xbrl.sec.gov/country/2022/country-2022.xsd#country_VE"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_VE" xlink:to="lab_country_VE" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SettlementOfNominalValueOfGrossDebtHedgesMember_7f516e16-4ee9-498d-b6b6-648b163c700a_terseLabel_en-US" xlink:label="lab_tef_SettlementOfNominalValueOfGrossDebtHedgesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Settlement of nominal value of gross debt hedges</link:label>
    <link:label id="lab_tef_SettlementOfNominalValueOfGrossDebtHedgesMember_label_en-US" xlink:label="lab_tef_SettlementOfNominalValueOfGrossDebtHedgesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Settlement of nominal value of gross debt hedges [Member]</link:label>
    <link:label id="lab_tef_SettlementOfNominalValueOfGrossDebtHedgesMember_documentation_en-US" xlink:label="lab_tef_SettlementOfNominalValueOfGrossDebtHedgesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Settlement of nominal value of gross debt hedges</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SettlementOfNominalValueOfGrossDebtHedgesMember" xlink:href="tef-20221231.xsd#tef_SettlementOfNominalValueOfGrossDebtHedgesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SettlementOfNominalValueOfGrossDebtHedgesMember" xlink:to="lab_tef_SettlementOfNominalValueOfGrossDebtHedgesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DefinedBenefitPlansMember_edc0a3e9-65c5-4122-90f5-3c879cf7f737_terseLabel_en-US" xlink:label="lab_ifrs-full_DefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Defined benefit plans [member]</link:label>
    <link:label id="lab_ifrs-full_DefinedBenefitPlansMember_label_en-US" xlink:label="lab_ifrs-full_DefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Defined benefit plans [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DefinedBenefitPlansMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DefinedBenefitPlansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DefinedBenefitPlansMember" xlink:to="lab_ifrs-full_DefinedBenefitPlansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_GuaranteedMember_5d106122-258a-4c22-84f7-67de73d7f32d_terseLabel_en-US" xlink:label="lab_tef_GuaranteedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guaranteed</link:label>
    <link:label id="lab_tef_GuaranteedMember_label_en-US" xlink:label="lab_tef_GuaranteedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guaranteed [Member]</link:label>
    <link:label id="lab_tef_GuaranteedMember_documentation_en-US" xlink:label="lab_tef_GuaranteedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Guaranteed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_GuaranteedMember" xlink:href="tef-20221231.xsd#tef_GuaranteedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_GuaranteedMember" xlink:to="lab_tef_GuaranteedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2030Option5Member_22d71def-eb0e-467f-89c0-11806cc7571b_terseLabel_en-US" xlink:label="lab_tef_Expiringin2030Option5Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 5</link:label>
    <link:label id="lab_tef_Expiringin2030Option5Member_label_en-US" xlink:label="lab_tef_Expiringin2030Option5Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 5 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2030Option5Member_documentation_en-US" xlink:label="lab_tef_Expiringin2030Option5Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2030, Option 5 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2030Option5Member" xlink:href="tef-20221231.xsd#tef_Expiringin2030Option5Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2030Option5Member" xlink:to="lab_tef_Expiringin2030Option5Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationAttendanceFees_25d5b828-b59f-4528-82a7-9f645c8a212c_terseLabel_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationAttendanceFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Attendance fees</link:label>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationAttendanceFees_label_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationAttendanceFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key Management Personnel Compensation, Attendance Fees</link:label>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationAttendanceFees_documentation_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationAttendanceFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key Management Personnel Compensation, Attendance Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_KeyManagementPersonnelCompensationAttendanceFees" xlink:href="tef-20221231.xsd#tef_KeyManagementPersonnelCompensationAttendanceFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_KeyManagementPersonnelCompensationAttendanceFees" xlink:to="lab_tef_KeyManagementPersonnelCompensationAttendanceFees" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentDividendPayables_6a037b63-3b24-44b7-9097-dd0d0a9336be_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentDividendPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends pending payment</link:label>
    <link:label id="lab_ifrs-full_CurrentDividendPayables_label_en-US" xlink:label="lab_ifrs-full_CurrentDividendPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current dividend payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentDividendPayables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentDividendPayables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentDividendPayables" xlink:to="lab_ifrs-full_CurrentDividendPayables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityInvestmentsMember_b86ac674-094b-4c3b-b3fc-20441636d750_terseLabel_en-US" xlink:label="lab_ifrs-full_EquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments</link:label>
    <link:label id="lab_ifrs-full_EquityInvestmentsMember_b341ea97-1038-495a-b532-3936c380a511_verboseLabel_en-US" xlink:label="lab_ifrs-full_EquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in subsidiaries, associates and other shareholdings</link:label>
    <link:label id="lab_ifrs-full_EquityInvestmentsMember_label_en-US" xlink:label="lab_ifrs-full_EquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity investments [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityInvestmentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityInvestmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityInvestmentsMember" xlink:to="lab_ifrs-full_EquityInvestmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DaytonaMidcoSLMember_9bc245b0-f034-4217-ad50-aa2f5471c609_terseLabel_en-US" xlink:label="lab_tef_DaytonaMidcoSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Daytona Midco SL.</link:label>
    <link:label id="lab_tef_DaytonaMidcoSLMember_label_en-US" xlink:label="lab_tef_DaytonaMidcoSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Daytona Midco SL. [Member]</link:label>
    <link:label id="lab_tef_DaytonaMidcoSLMember_documentation_en-US" xlink:label="lab_tef_DaytonaMidcoSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Daytona Midco SL.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DaytonaMidcoSLMember" xlink:href="tef-20221231.xsd#tef_DaytonaMidcoSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DaytonaMidcoSLMember" xlink:to="lab_tef_DaytonaMidcoSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProsegurAlarmasEspaaSLMember_87b181e0-266f-4bfa-b54c-b4dfadd9f91d_terseLabel_en-US" xlink:label="lab_tef_ProsegurAlarmasEspaaSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Movistar Prosegur Alarmas</link:label>
    <link:label id="lab_tef_ProsegurAlarmasEspaaSLMember_label_en-US" xlink:label="lab_tef_ProsegurAlarmasEspaaSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Prosegur Alarmas Espa&#241;a SL [Member]</link:label>
    <link:label id="lab_tef_ProsegurAlarmasEspaaSLMember_documentation_en-US" xlink:label="lab_tef_ProsegurAlarmasEspaaSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Prosegur Alarmas Espa&#241;a SL</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProsegurAlarmasEspaaSLMember" xlink:href="tef-20221231.xsd#tef_ProsegurAlarmasEspaaSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProsegurAlarmasEspaaSLMember" xlink:to="lab_tef_ProsegurAlarmasEspaaSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ContingentLiabilitiesPercentPaid_7853d6ad-cb1d-4140-bc6d-9c8bedeb622d_terseLabel_en-US" xlink:label="lab_tef_ContingentLiabilitiesPercentPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percent paid</link:label>
    <link:label id="lab_tef_ContingentLiabilitiesPercentPaid_label_en-US" xlink:label="lab_tef_ContingentLiabilitiesPercentPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contingent Liabilities, Percent Paid</link:label>
    <link:label id="lab_tef_ContingentLiabilitiesPercentPaid_documentation_en-US" xlink:label="lab_tef_ContingentLiabilitiesPercentPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contingent Liabilities, Percent Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ContingentLiabilitiesPercentPaid" xlink:href="tef-20221231.xsd#tef_ContingentLiabilitiesPercentPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ContingentLiabilitiesPercentPaid" xlink:to="lab_tef_ContingentLiabilitiesPercentPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SeniorNotesDue2048Member_2f5a3948-d77e-4766-9259-12012a2ba0c6_terseLabel_en-US" xlink:label="lab_tef_SeniorNotesDue2048Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior notes due 2048</link:label>
    <link:label id="lab_tef_SeniorNotesDue2048Member_label_en-US" xlink:label="lab_tef_SeniorNotesDue2048Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Notes Due 2048 [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_SeniorNotesDue2048Member" xlink:href="tef-20221231.xsd#tef_SeniorNotesDue2048Member"/>
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    <link:label id="lab_tef_TelefonicaDeutschlandHoldingA.G.Member_9c905494-6a08-4403-973a-b922352bb54e_terseLabel_en-US" xlink:label="lab_tef_TelefonicaDeutschlandHoldingA.G.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Deutschland Holding A.G.</link:label>
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    <link:label id="lab_ifrs-full_GoodwillMember_82d12ce9-0526-4b9e-a26c-35cafd340684_terseLabel_en-US" xlink:label="lab_ifrs-full_GoodwillMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Goodwill</link:label>
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    <link:label id="lab_tef_TelefonicaInfrastructuraeSegurancaBrasilLtdaMember_3737503c-a09a-4f0a-b787-4ebc01ddca5b_terseLabel_en-US" xlink:label="lab_tef_TelefonicaInfrastructuraeSegurancaBrasilLtdaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#244;nica Infraestructura e Seguran&#231;a Brasil Ltda. Security services and systems</link:label>
    <link:label id="lab_tef_TelefonicaInfrastructuraeSegurancaBrasilLtdaMember_label_en-US" xlink:label="lab_tef_TelefonicaInfrastructuraeSegurancaBrasilLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Infrastructura e Seguranca Brasil Ltda [Member]</link:label>
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    <link:label id="lab_tef_TelefonicadelPeruS.A.Member_2a46f710-687d-412e-a754-9886b8d98689_terseLabel_en-US" xlink:label="lab_tef_TelefonicadelPeruS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica del&#160;Per&#250;, S.A.</link:label>
    <link:label id="lab_tef_TelefonicadelPeruS.A.Member_label_en-US" xlink:label="lab_tef_TelefonicadelPeruS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica del Peru, S.A. [Member]</link:label>
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    <link:label id="lab_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital_5cf58cfc-36bf-4c2f-abbb-d93fc3e67329_terseLabel_en-US" xlink:label="lab_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal reserve, increase share capital, threshold allowance to increase capital (in percentage)</link:label>
    <link:label id="lab_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital_label_en-US" xlink:label="lab_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Reserve, Increase Share Capital, Threshold Allowable To Increase Capital</link:label>
    <link:label id="lab_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital_documentation_en-US" xlink:label="lab_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Reserve, Increase Share Capital, Threshold Allowable To Increase Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital" xlink:href="tef-20221231.xsd#tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital"/>
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    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties_867eb8b4-c336-4f86-9c04-1f9e3f3aecbf_netLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables to associates and joint ventures</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties_fedb342e-2f58-4935-8108-d9cf8ad05ee1_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables to associates and joint ventures (Note 22)</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties_d15ea0b9-fd01-49f7-9408-88848ec96e70_verboseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables to associates and joint ventures (Note 10)</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current payables to related parties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:to="lab_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PercentageOfVotingEquityInterestsAcquired_47865f75-5321-49b0-a873-eb8a0c79cc03_terseLabel_en-US" xlink:label="lab_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of voting equity interests acquired</link:label>
    <link:label id="lab_ifrs-full_PercentageOfVotingEquityInterestsAcquired_a2bcd691-7a0b-41c4-955a-8765a4927309_netLabel_en-US" xlink:label="lab_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">% Acquisition</link:label>
    <link:label id="lab_ifrs-full_PercentageOfVotingEquityInterestsAcquired_label_en-US" xlink:label="lab_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of voting equity interests acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired"/>
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    <link:label id="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans_3d854801-d7cf-4c13-9dc4-fea75e4d546d_totalLabel_en-US" xlink:label="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans_4e505f5f-42a3-477e-a1f5-dffd76317007_periodStartLabel_en-US" xlink:label="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net defined benefit liability (asset) at beginning of period</link:label>
    <link:label id="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans_8d0d81ba-ae41-40cc-bdd5-e6e7afbf608d_periodEndLabel_en-US" xlink:label="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net defined benefit liability (asset) at end of period</link:label>
    <link:label id="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans_ef1ceeb5-0f83-46f0-bc45-52a81b81123b_negatedPeriodStartLabel_en-US" xlink:label="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net defined benefit asset (liability) at beginning of period</link:label>
    <link:label id="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans_f8d53920-a79d-4c6f-b647-f43880a3e77b_negatedPeriodEndLabel_en-US" xlink:label="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net defined benefit asset (liability) at end of period</link:label>
    <link:label id="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans_label_en-US" xlink:label="lab_ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net defined benefit liability (asset)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans"/>
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    <link:label id="lab_ifrs-full_OtherCurrentReceivables_a755f814-0324-4bea-932a-5c1815ae7e7a_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other receivables</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentReceivables_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCurrentReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentReceivables" xlink:to="lab_ifrs-full_OtherCurrentReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PurchaseCommitmentsMember_634b45e1-a1f8-4f42-92cd-00143f3def85_terseLabel_en-US" xlink:label="lab_tef_PurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase commitments</link:label>
    <link:label id="lab_tef_PurchaseCommitmentsMember_label_en-US" xlink:label="lab_tef_PurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase Commitments [Member]</link:label>
    <link:label id="lab_tef_PurchaseCommitmentsMember_documentation_en-US" xlink:label="lab_tef_PurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase Commitments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PurchaseCommitmentsMember" xlink:href="tef-20221231.xsd#tef_PurchaseCommitmentsMember"/>
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    <link:label id="lab_tef_RegulatoryOperationsEstablishedOperatorsandaSymmetricTerminationRatePerMinute_6ebca270-da76-4cad-871f-c58fdd456216_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsEstablishedOperatorsandaSymmetricTerminationRatePerMinute" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Established operators and a symmetric termination rate (COP per minute)</link:label>
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    <link:label id="lab_tef_RegulatoryOperationsEstablishedOperatorsandaSymmetricTerminationRatePerMinute_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsEstablishedOperatorsandaSymmetricTerminationRatePerMinute" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Established Operators and a Symmetric Termination Rate Per Minute</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsEstablishedOperatorsandaSymmetricTerminationRatePerMinute" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsEstablishedOperatorsandaSymmetricTerminationRatePerMinute"/>
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    <link:label id="lab_ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities_7b5c3fd2-a857-4fd4-b87e-b78ada6c5608_terseLabel_en-US" xlink:label="lab_ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Maturity Analysis for Derivative Financial Liabilities</link:label>
    <link:label id="lab_ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of maturity analysis for derivative financial liabilities [text block]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfNetDebtPlusCommitmentsUnderFixedInterestRates" xlink:href="tef-20221231.xsd#tef_PercentageOfNetDebtPlusCommitmentsUnderFixedInterestRates"/>
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    <link:label id="lab_ifrs-full_AverageNumberOfEmployees_cf97de71-c026-428b-9bf5-5e1ae5a50750_terseLabel_en-US" xlink:label="lab_ifrs-full_AverageNumberOfEmployees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Average employees over year</link:label>
    <link:label id="lab_ifrs-full_AverageNumberOfEmployees_label_en-US" xlink:label="lab_ifrs-full_AverageNumberOfEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Average number of employees</link:label>
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    <link:label id="lab_tef_MaximumAuthorizedIssuedCapital_51679a82-7d17-47dd-8192-ba6f9e97a72a_terseLabel_en-US" xlink:label="lab_tef_MaximumAuthorizedIssuedCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum authorized share capital</link:label>
    <link:label id="lab_tef_MaximumAuthorizedIssuedCapital_label_en-US" xlink:label="lab_tef_MaximumAuthorizedIssuedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum Authorized Issued Capital</link:label>
    <link:label id="lab_tef_MaximumAuthorizedIssuedCapital_documentation_en-US" xlink:label="lab_tef_MaximumAuthorizedIssuedCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum Authorized Issued Capital</link:label>
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    <link:label id="lab_tef_IndefiniteOption3Member_9dd8ab3e-764d-44cc-b209-54f86edeae6e_terseLabel_en-US" xlink:label="lab_tef_IndefiniteOption3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 3</link:label>
    <link:label id="lab_tef_IndefiniteOption3Member_label_en-US" xlink:label="lab_tef_IndefiniteOption3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 3 [Member]</link:label>
    <link:label id="lab_tef_IndefiniteOption3Member_documentation_en-US" xlink:label="lab_tef_IndefiniteOption3Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 3 [Member]</link:label>
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    <link:label id="lab_ifrs-full_DepreciationPropertyPlantAndEquipment_2ce0dea9-ce47-4796-ba94-18f520753fa8_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation</link:label>
    <link:label id="lab_ifrs-full_DepreciationPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation, property, plant and equipment</link:label>
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    <link:label id="lab_tef_DisclosureOfCurrentOtherPayablesTableTextBlock_c0c232fb-ca54-482a-bde0-38f17a22cbd0_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfCurrentOtherPayablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Current Other Payables</link:label>
    <link:label id="lab_tef_DisclosureOfCurrentOtherPayablesTableTextBlock_label_en-US" xlink:label="lab_tef_DisclosureOfCurrentOtherPayablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Current Other Payables [Table Text Block]</link:label>
    <link:label id="lab_tef_DisclosureOfCurrentOtherPayablesTableTextBlock_documentation_en-US" xlink:label="lab_tef_DisclosureOfCurrentOtherPayablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Current Other Payables [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfCurrentOtherPayablesTableTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureOfCurrentOtherPayablesTableTextBlock"/>
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    <link:label id="lab_tef_PromissoryNoteMember_779d0206-7656-4ae5-9547-07dda32bb30c_terseLabel_en-US" xlink:label="lab_tef_PromissoryNoteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Promissory note</link:label>
    <link:label id="lab_tef_PromissoryNoteMember_label_en-US" xlink:label="lab_tef_PromissoryNoteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Promissory note [Member]</link:label>
    <link:label id="lab_tef_PromissoryNoteMember_documentation_en-US" xlink:label="lab_tef_PromissoryNoteMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Promissory note</link:label>
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    <link:label id="lab_tef_MariaLuisaGarciaBlancoMember_06e257db-c7f2-4c3c-923d-e46e3728a3f7_terseLabel_en-US" xlink:label="lab_tef_MariaLuisaGarciaBlancoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</link:label>
    <link:label id="lab_tef_MariaLuisaGarciaBlancoMember_label_en-US" xlink:label="lab_tef_MariaLuisaGarciaBlancoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maria Luisa Garcia Blanco [Member]</link:label>
    <link:label id="lab_tef_MariaLuisaGarciaBlancoMember_documentation_en-US" xlink:label="lab_tef_MariaLuisaGarciaBlancoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maria Luisa Garcia Blanco [Member]</link:label>
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    <link:label id="lab_tef_UseOfEstimatesPolicyTextBlock_ee64d2ed-f9a9-40d9-b344-554f7d70375c_terseLabel_en-US" xlink:label="lab_tef_UseOfEstimatesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Use of estimates</link:label>
    <link:label id="lab_tef_UseOfEstimatesPolicyTextBlock_label_en-US" xlink:label="lab_tef_UseOfEstimatesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Use Of Estimates [Policy Text Block]</link:label>
    <link:label id="lab_tef_UseOfEstimatesPolicyTextBlock_documentation_en-US" xlink:label="lab_tef_UseOfEstimatesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Use Of Estimates [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_UseOfEstimatesPolicyTextBlock" xlink:href="tef-20221231.xsd#tef_UseOfEstimatesPolicyTextBlock"/>
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    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities_cb867690-7e43-4132-8232-12fc42c1b421_totalLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net cash flow provided by operating activities</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
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    <link:label id="lab_ifrs-full_EquityAttributableToOwnersOfParent_a2855efc-b307-4ac5-a4de-5f3f6ec6910f_terseLabel_en-US" xlink:label="lab_ifrs-full_EquityAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity attributable to equity holders of the parent and other holders of equity instruments</link:label>
    <link:label id="lab_ifrs-full_EquityAttributableToOwnersOfParent_label_en-US" xlink:label="lab_ifrs-full_EquityAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity attributable to owners of parent</link:label>
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    <link:label id="lab_tef_TelefonicaChileMember_05d5e284-a2ec-452e-9290-8147e7500ea0_terseLabel_en-US" xlink:label="lab_tef_TelefonicaChileMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Chile</link:label>
    <link:label id="lab_tef_TelefonicaChileMember_label_en-US" xlink:label="lab_tef_TelefonicaChileMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Chile [Member]</link:label>
    <link:label id="lab_tef_TelefonicaChileMember_documentation_en-US" xlink:label="lab_tef_TelefonicaChileMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Chile [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaChileMember" xlink:href="tef-20221231.xsd#tef_TelefonicaChileMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaChileMember" xlink:to="lab_tef_TelefonicaChileMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseInCompanyMovementsDeferredTaxLiability_f572f19a-2159-45e4-94be-59add4cd5d2d_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInCompanyMovementsDeferredTaxLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Company movements and others</link:label>
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    <link:label id="lab_tef_TelefonicaGlobalTechnologyMember_b53590c5-0d2e-465f-8e86-6b83e176a68b_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGlobalTechnologyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Global Technology [Member]</link:label>
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    <link:label id="lab_ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions_70b3ff16-627b-40d1-b61d-b53cadc21265_terseLabel_en-US" xlink:label="lab_ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital gains arising from sale and leaseback transactions</link:label>
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    <link:label id="lab_tef_RenewalDomain_12d4cf75-da2f-4235-82ad-1e98a304fc39_terseLabel_en-US" xlink:label="lab_tef_RenewalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Renewal [Domain]</link:label>
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    <link:label id="lab_tef_SeniorGreenBondOfTelefonicaEmisionesMember_4d59a7a0-d998-41b0-9930-c318ade4085b_terseLabel_en-US" xlink:label="lab_tef_SeniorGreenBondOfTelefonicaEmisionesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Senior Green Bond of Telefonica Emisiones</link:label>
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    <link:label id="lab_ifrs-full_GuaranteesMember_44f3448e-f3f9-4795-9487-d650f9dce9af_terseLabel_en-US" xlink:label="lab_ifrs-full_GuaranteesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collateral guarantees on derivatives</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfOperatingSegmentsTable_0d5c49b0-8250-43db-a2fe-176c3309944a_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of operating segments [table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOperatingSegmentsTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfOperatingSegmentsTable"/>
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    <link:label id="lab_tef_TelefonicaComprasElectronicasMember_a28bec11-4609-4947-9861-3410bde0cae4_terseLabel_en-US" xlink:label="lab_tef_TelefonicaComprasElectronicasMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Iot &amp; Big Data Tech S.A. Provision of telemarketing services</link:label>
    <link:label id="lab_tef_TelefonicaComprasElectronicasMember_label_en-US" xlink:label="lab_tef_TelefonicaComprasElectronicasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Compras Electronicas [Member]</link:label>
    <link:label id="lab_tef_TelefonicaComprasElectronicasMember_documentation_en-US" xlink:label="lab_tef_TelefonicaComprasElectronicasMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Compras Electronicas [Member]</link:label>
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    <link:label id="lab_tef_ReceivablesforSubleasesMember_435596e7-25a0-41c2-926c-fad777f2a209_terseLabel_en-US" xlink:label="lab_tef_ReceivablesforSubleasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables for subleases</link:label>
    <link:label id="lab_tef_ReceivablesforSubleasesMember_1d6d67ed-6086-4523-8530-eab72acd507c_verboseLabel_en-US" xlink:label="lab_tef_ReceivablesforSubleasesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade receivables for subleases</link:label>
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    <link:label id="lab_tef_ReceivablesforSubleasesMember_documentation_en-US" xlink:label="lab_tef_ReceivablesforSubleasesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables for Subleases [Member]</link:label>
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    <link:label id="lab_tef_OtherTelefonicaHispamCountriesMember_fba897b0-aaab-4679-bcd6-dff010406482_terseLabel_en-US" xlink:label="lab_tef_OtherTelefonicaHispamCountriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others T. Hispam</link:label>
    <link:label id="lab_tef_OtherTelefonicaHispamCountriesMember_label_en-US" xlink:label="lab_tef_OtherTelefonicaHispamCountriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Telefonica Hispam Countries [Member]</link:label>
    <link:label id="lab_tef_OtherTelefonicaHispamCountriesMember_documentation_en-US" xlink:label="lab_tef_OtherTelefonicaHispamCountriesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Telefonica Hispam Countries</link:label>
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    <link:label id="lab_tef_InterestProceedsPaymentsofFinancialInstruments_7c8c8a3a-0652-4335-9bd8-df39ea20300a_terseLabel_en-US" xlink:label="lab_tef_InterestProceedsPaymentsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest (proceeds)/payments</link:label>
    <link:label id="lab_tef_InterestProceedsPaymentsofFinancialInstruments_label_en-US" xlink:label="lab_tef_InterestProceedsPaymentsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest (Proceeds) / Payments of Financial Instruments</link:label>
    <link:label id="lab_tef_InterestProceedsPaymentsofFinancialInstruments_documentation_en-US" xlink:label="lab_tef_InterestProceedsPaymentsofFinancialInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest (Proceeds) / Payments of Financial Instruments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_InterestProceedsPaymentsofFinancialInstruments" xlink:href="tef-20221231.xsd#tef_InterestProceedsPaymentsofFinancialInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_InterestProceedsPaymentsofFinancialInstruments" xlink:to="lab_tef_InterestProceedsPaymentsofFinancialInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicadeEspanaMember_4f4215cf-24a2-42c3-8b2b-556c0c7cae0c_terseLabel_en-US" xlink:label="lab_tef_TelefonicadeEspanaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica de Espana [Member]</link:label>
    <link:label id="lab_tef_TelefonicadeEspanaMember_label_en-US" xlink:label="lab_tef_TelefonicadeEspanaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica de Espana [Member]</link:label>
    <link:label id="lab_tef_TelefonicadeEspanaMember_documentation_en-US" xlink:label="lab_tef_TelefonicadeEspanaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica de Espana [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicadeEspanaMember" xlink:href="tef-20221231.xsd#tef_TelefonicadeEspanaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicadeEspanaMember" xlink:to="lab_tef_TelefonicadeEspanaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BusinessPlanNormalizationPeriodTerm_c8b02e8d-c697-4f12-b8a8-5c3278863d34_terseLabel_en-US" xlink:label="lab_tef_BusinessPlanNormalizationPeriodTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business plan, normalization period, term</link:label>
    <link:label id="lab_tef_BusinessPlanNormalizationPeriodTerm_label_en-US" xlink:label="lab_tef_BusinessPlanNormalizationPeriodTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Plan, Normalization Period, Term</link:label>
    <link:label id="lab_tef_BusinessPlanNormalizationPeriodTerm_documentation_en-US" xlink:label="lab_tef_BusinessPlanNormalizationPeriodTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Plan, Normalization Period, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BusinessPlanNormalizationPeriodTerm" xlink:href="tef-20221231.xsd#tef_BusinessPlanNormalizationPeriodTerm"/>
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    <link:label id="lab_tef_TreasuryShareInstrumentsTableTextBlock_26aadb70-b67f-4cc3-a585-49b783e2d220_terseLabel_en-US" xlink:label="lab_tef_TreasuryShareInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Treasury Share Instruments</link:label>
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    <link:label id="lab_tef_TreasuryShareInstrumentsTableTextBlock_documentation_en-US" xlink:label="lab_tef_TreasuryShareInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Share Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TreasuryShareInstrumentsTableTextBlock" xlink:href="tef-20221231.xsd#tef_TreasuryShareInstrumentsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TreasuryShareInstrumentsTableTextBlock" xlink:to="lab_tef_TreasuryShareInstrumentsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DirectorsRemunerationExpense_131c9324-28db-4118-916c-88b869d261ac_terseLabel_en-US" xlink:label="lab_ifrs-full_DirectorsRemunerationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Directors' remuneration expense</link:label>
    <link:label id="lab_ifrs-full_DirectorsRemunerationExpense_label_en-US" xlink:label="lab_ifrs-full_DirectorsRemunerationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Directors' remuneration expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DirectorsRemunerationExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DirectorsRemunerationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DirectorsRemunerationExpense" xlink:to="lab_ifrs-full_DirectorsRemunerationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_GeographyEliminationsMember_36d0cf09-0513-4224-9429-94c840b20b88_terseLabel_en-US" xlink:label="lab_srt_GeographyEliminationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geography Eliminations</link:label>
    <link:label id="lab_srt_GeographyEliminationsMember_label_en-US" xlink:label="lab_srt_GeographyEliminationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geography Eliminations [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_GeographyEliminationsMember" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_GeographyEliminationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_GeographyEliminationsMember" xlink:to="lab_srt_GeographyEliminationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfJointVenturesExplanatory_4487b460-55fd-477b-8733-9a77a569c4e9_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Associates and Joint Ventures</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfJointVenturesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of joint ventures [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfJointVenturesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfJointVenturesExplanatory"/>
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    <link:label id="lab_tef_BETernaGermanyGmbHMember_76236238-6b06-4cb9-89c6-9fc68a72b43e_terseLabel_en-US" xlink:label="lab_tef_BETernaGermanyGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Germany GmbH</link:label>
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    <link:label id="lab_tef_BETernaGermanyGmbHMember_documentation_en-US" xlink:label="lab_tef_BETernaGermanyGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Germany GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaGermanyGmbHMember" xlink:href="tef-20221231.xsd#tef_BETernaGermanyGmbHMember"/>
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    <link:label id="lab_ifrs-full_UnusedTaxLossesMember_cb61e87d-e13c-4757-aced-f3cca3c8891e_terseLabel_en-US" xlink:label="lab_ifrs-full_UnusedTaxLossesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax credits for loss carryforwards</link:label>
    <link:label id="lab_ifrs-full_UnusedTaxLossesMember_label_en-US" xlink:label="lab_ifrs-full_UnusedTaxLossesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unused tax losses [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UnusedTaxLossesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_UnusedTaxLossesMember"/>
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    <link:label id="lab_ifrs-full_NoncurrentLiabilities_a80fd3e2-f2fc-4997-b6a0-c14a408ddef3_totalLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non current liabilities</link:label>
    <link:label id="lab_ifrs-full_NoncurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_NoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentLiabilities"/>
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    <link:label id="lab_tef_TelxiusTorresLatamMember_8dd40444-f84d-46d4-b1c3-e996c8d44137_terseLabel_en-US" xlink:label="lab_tef_TelxiusTorresLatamMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Latam [Member]</link:label>
    <link:label id="lab_tef_TelxiusTorresLatamMember_label_en-US" xlink:label="lab_tef_TelxiusTorresLatamMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Latam [Member]</link:label>
    <link:label id="lab_tef_TelxiusTorresLatamMember_documentation_en-US" xlink:label="lab_tef_TelxiusTorresLatamMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Torres Latam [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusTorresLatamMember" xlink:href="tef-20221231.xsd#tef_TelxiusTorresLatamMember"/>
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    <link:label id="lab_tef_IndefiniteOption8Member_label_en-US" xlink:label="lab_tef_IndefiniteOption8Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 8 [Member]</link:label>
    <link:label id="lab_tef_IndefiniteOption8Member_documentation_en-US" xlink:label="lab_tef_IndefiniteOption8Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 8</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [table]</link:label>
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    <link:label id="lab_ifrs-full_PaymentsForDevelopmentProjectExpenditure_edfab9fa-b1b3-47cd-a8c9-67009c50f9f2_terseLabel_en-US" xlink:label="lab_ifrs-full_PaymentsForDevelopmentProjectExpenditure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CapEx</link:label>
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    <link:label id="lab_tef_TelefonicaMovilesDelPeru2000CorporateIncomeTaxMember_7c58a41b-f505-4c2a-a693-1a8504bf4f60_terseLabel_en-US" xlink:label="lab_tef_TelefonicaMovilesDelPeru2000CorporateIncomeTaxMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Moviles Del Peru 2000 Corporate Income Tax</link:label>
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    <link:label id="lab_tef_TelefonicaMovilesDelPeru2000CorporateIncomeTaxMember_documentation_en-US" xlink:label="lab_tef_TelefonicaMovilesDelPeru2000CorporateIncomeTaxMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Moviles Del Peru 2000 Corporate Income Tax</link:label>
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    <link:label id="lab_tef_EuropeTowersDivisionMember_f452ecc8-c49f-492c-8b69-bdf96f005b84_terseLabel_en-US" xlink:label="lab_tef_EuropeTowersDivisionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Europe towers division</link:label>
    <link:label id="lab_tef_EuropeTowersDivisionMember_label_en-US" xlink:label="lab_tef_EuropeTowersDivisionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Europe Towers Division [Member]</link:label>
    <link:label id="lab_tef_EuropeTowersDivisionMember_documentation_en-US" xlink:label="lab_tef_EuropeTowersDivisionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Europe Towers Division</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EuropeTowersDivisionMember" xlink:href="tef-20221231.xsd#tef_EuropeTowersDivisionMember"/>
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    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_8f28d05d-4b25-46e2-97dc-67747b9e2653_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Significant shareholder stake of the Company (as a percent)</link:label>
    <link:label id="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_label_en-US" xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of ownership interests held by non-controlling interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests"/>
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    <link:label id="lab_tef_Disposalsrightofuseassets_f7462f1a-6384-44b1-a462-627ebecbcf37_negatedTerseLabel_en-US" xlink:label="lab_tef_Disposalsrightofuseassets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals</link:label>
    <link:label id="lab_tef_Disposalsrightofuseassets_label_en-US" xlink:label="lab_tef_Disposalsrightofuseassets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals, right-of-use assets</link:label>
    <link:label id="lab_tef_Disposalsrightofuseassets_documentation_en-US" xlink:label="lab_tef_Disposalsrightofuseassets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals, right-of-use assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Disposalsrightofuseassets" xlink:href="tef-20221231.xsd#tef_Disposalsrightofuseassets"/>
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    <link:label id="lab_ifrs-full_RevenueOfAcquiree_332dd3d0-c60c-4564-b551-1a5b5da5141c_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue of acquiree since acquisition date</link:label>
    <link:label id="lab_ifrs-full_RevenueOfAcquiree_label_en-US" xlink:label="lab_ifrs-full_RevenueOfAcquiree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue of acquiree since acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueOfAcquiree" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueOfAcquiree"/>
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    <link:label id="lab_ifrs-full_CurrencyRiskMember_34911eca-04aa-42d8-88f6-13fc673bcccd_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Foreign currency exchange risk</link:label>
    <link:label id="lab_ifrs-full_CurrencyRiskMember_167c2986-1525-489f-82fa-558fca1b0b68_verboseLabel_en-US" xlink:label="lab_ifrs-full_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Exchange rate risk</link:label>
    <link:label id="lab_ifrs-full_CurrencyRiskMember_4f498c54-c0ce-40b1-8f7d-9b25cb452cb4_netLabel_en-US" xlink:label="lab_ifrs-full_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Exchange rate risk</link:label>
    <link:label id="lab_ifrs-full_CurrencyRiskMember_label_en-US" xlink:label="lab_ifrs-full_CurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Currency risk [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrencyRiskMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrencyRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrencyRiskMember" xlink:to="lab_ifrs-full_CurrencyRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies_e71cca18-9f56-41be-b054-c704a30e5998_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) in equity due to depreciation of euro to major currencies</link:label>
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    <link:label id="lab_tef_IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) In Equity Due To Depreciation Of Euro To Major Currencies</link:label>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValue_29c70930-c8a4-416e-bc15-0c2e71a87e86_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total fair value</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValue_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, at fair value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtFairValue"/>
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    <link:label id="lab_tef_TelefonicaEmisionesShelfProgramMember_fc8b08c2-166d-4661-91d1-2662b66005fb_terseLabel_en-US" xlink:label="lab_tef_TelefonicaEmisionesShelfProgramMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SHELF program of Telefonica Emisiones, S.A.U.</link:label>
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    <link:label id="lab_tef_TelefonicaEmisionesShelfProgramMember_documentation_en-US" xlink:label="lab_tef_TelefonicaEmisionesShelfProgramMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Emisiones Shelf Program [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaEmisionesShelfProgramMember" xlink:href="tef-20221231.xsd#tef_TelefonicaEmisionesShelfProgramMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaEmisionesShelfProgramMember" xlink:to="lab_tef_TelefonicaEmisionesShelfProgramMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfDetailedInformationAboutChangesInNonCurrentFinancialAssetsTableTextBlock_b82b29a6-e568-46c2-a0d5-08872dfba9f3_verboseLabel_en-US" xlink:label="lab_tef_DisclosureOfDetailedInformationAboutChangesInNonCurrentFinancialAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Movement in Non-Current Financial Assets</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfDetailedInformationAboutChangesInNonCurrentFinancialAssetsTableTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureOfDetailedInformationAboutChangesInNonCurrentFinancialAssetsTableTextBlock"/>
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    <link:label id="lab_tef_RateCapMember_79867c4b-6caf-4058-a156-a6eb63476674_terseLabel_en-US" xlink:label="lab_tef_RateCapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rate cap</link:label>
    <link:label id="lab_tef_RateCapMember_label_en-US" xlink:label="lab_tef_RateCapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rate Cap [Member]</link:label>
    <link:label id="lab_tef_RateCapMember_documentation_en-US" xlink:label="lab_tef_RateCapMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rate Cap [Member]</link:label>
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    <link:label id="lab_tef_FranciscoJavierdePazMember_81d81525-d166-4fab-b713-ff5664649ae1_terseLabel_en-US" xlink:label="lab_tef_FranciscoJavierdePazMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mr. Francisco Javier de Paz Mancho</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable_61b89a0f-43e0-44df-aa31-4f13dac42c82_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of classes of share capital [table]</link:label>
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    <link:label id="lab_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate_fa2c0904-bc43-463a-b450-d8136ec569ac_terseLabel_en-US" xlink:label="lab_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Goodwill (Note 7)</link:label>
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    <link:label id="lab_tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompaniestoProvidePayTVServices_1fe8c7f1-ced8-49b6-a721-fffe3f38aa5f_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompaniestoProvidePayTVServices" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of gross revenue for open concessionaire companies to provide pay TV services</link:label>
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    <link:label id="lab_ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_3dc1bbe2-61af-459e-abb3-2b053e9ae34b_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2027</link:label>
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    <link:label id="lab_tef_RenewalAxis_789d7378-8ca3-45c2-ba3f-be9d62b3ef6a_terseLabel_en-US" xlink:label="lab_tef_RenewalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Renewal [Axis]</link:label>
    <link:label id="lab_tef_RenewalAxis_label_en-US" xlink:label="lab_tef_RenewalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Renewal [Axis]</link:label>
    <link:label id="lab_tef_RenewalAxis_documentation_en-US" xlink:label="lab_tef_RenewalAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Renewal</link:label>
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    <link:label id="lab_ifrs-full_CreditDerivativeNominalAmount_f37e33ab-dcd4-445c-b23d-98c31a0f5c27_terseLabel_en-US" xlink:label="lab_ifrs-full_CreditDerivativeNominalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Nominal amount of hedging instrument</link:label>
    <link:label id="lab_ifrs-full_CreditDerivativeNominalAmount_label_en-US" xlink:label="lab_ifrs-full_CreditDerivativeNominalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit derivative, nominal amount</link:label>
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    <link:label id="lab_tef_OutsideofParentCountryMember_3540595a-fafd-4a43-b15d-336b30c068fb_terseLabel_en-US" xlink:label="lab_tef_OutsideofParentCountryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other</link:label>
    <link:label id="lab_tef_OutsideofParentCountryMember_14dac4b4-989e-43ee-ba2a-4bda5cfe10d0_verboseLabel_en-US" xlink:label="lab_tef_OutsideofParentCountryMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outside of Parent Country</link:label>
    <link:label id="lab_tef_OutsideofParentCountryMember_label_en-US" xlink:label="lab_tef_OutsideofParentCountryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outside of Parent Country [Member]</link:label>
    <link:label id="lab_tef_OutsideofParentCountryMember_documentation_en-US" xlink:label="lab_tef_OutsideofParentCountryMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outside of Parent Country [Member]</link:label>
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    <link:label id="lab_tef_TelefonicaEmisionesMember_b95fe9f9-0c80-4a86-ace6-7b8248500788_terseLabel_en-US" xlink:label="lab_tef_TelefonicaEmisionesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Emisiones S.A.U.</link:label>
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    <link:label id="lab_tef_TelefonicaEmisionesMember_documentation_en-US" xlink:label="lab_tef_TelefonicaEmisionesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Emisiones [Member]</link:label>
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    <link:label id="lab_tef_BilateralLoanDueJanuary262022Member_136aafcb-bffc-4754-8491-00d68997a6b9_terseLabel_en-US" xlink:label="lab_tef_BilateralLoanDueJanuary262022Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due January 26, 2022</link:label>
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    <link:label id="lab_tef_BilateralLoanDueJanuary262022Member_documentation_en-US" xlink:label="lab_tef_BilateralLoanDueJanuary262022Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due January 26, 2022</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESOCTOBER2014Member_05d1594b-a307-4417-bd36-430412210bc2_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESOCTOBER2014Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES OCTOBER 2014</link:label>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesWhichMayBeGranted_ab0f5a89-1f7d-47b4-9e04-6710821b7bfa_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesWhichMayBeGranted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of shares which may be granted free of charge (shares)</link:label>
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    <link:label id="lab_tef_RegulatoryOperationsLicenseAmountsOfRegionsExcluded_00495604-c7f3-44dc-a3ed-055bd76b7a6a_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsLicenseAmountsOfRegionsExcluded" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of regions excluded in national license</link:label>
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    <link:label id="lab_tef_BETernaGroupMember_600e5308-a3d8-4929-91f9-3e171362cecc_terseLabel_en-US" xlink:label="lab_tef_BETernaGroupMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Group</link:label>
    <link:label id="lab_tef_BETernaGroupMember_label_en-US" xlink:label="lab_tef_BETernaGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Group [Member]</link:label>
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    <link:label id="lab_tef_TelfinIrelandMember_bc452682-873e-4bec-bf30-58b1935056aa_terseLabel_en-US" xlink:label="lab_tef_TelfinIrelandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telfin Ireland</link:label>
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    <link:label id="lab_tef_PerformanceSharePlanMember_3554777f-5a12-4453-8a4b-38416bcbe89c_terseLabel_en-US" xlink:label="lab_tef_PerformanceSharePlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Performance Share Plan</link:label>
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    <link:label id="lab_tef_PerformanceSharePlanMember_documentation_en-US" xlink:label="lab_tef_PerformanceSharePlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Performance Share Plan</link:label>
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    <link:label id="lab_tef_NonControllingInterestsOfTelxiusTelecomSAMember_33c485ae-2c6d-418f-a3c9-6e9850329a91_terseLabel_en-US" xlink:label="lab_tef_NonControllingInterestsOfTelxiusTelecomSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to non-controlling interests of Telxius Telecom, S.A.</link:label>
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    <link:label id="lab_tef_FranciscoJoseRiberasMember_df4a242a-ef3a-4c3b-b7bf-9736f7461324_terseLabel_en-US" xlink:label="lab_tef_FranciscoJoseRiberasMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mr. Francisco Jos&#233; Riberas Mera</link:label>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesTypeMember_3585d85d-bf42-40a4-acb5-7eeeda16465c_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesTypeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, type</link:label>
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    <link:label id="lab_tef_AdatisIndiaPrivateLimitedMember_14f17b83-3200-4353-bb32-f10ca50d7dff_terseLabel_en-US" xlink:label="lab_tef_AdatisIndiaPrivateLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adatis India Private Limited</link:label>
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    <link:label id="lab_dei_DocumentFiscalYearFocus_509e8810-46ac-4bb3-aacd-62ec20c68426_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Fiscal Year Focus</link:label>
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    <link:label id="lab_tef_WholesaleAccessServicesAgreementRenewalPeriodAfterTermEndTerm_d10a6e0d-48e5-43d4-9880-0bf69667a22b_terseLabel_en-US" xlink:label="lab_tef_WholesaleAccessServicesAgreementRenewalPeriodAfterTermEndTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wholesale access services agreement, renewal period after term end, term</link:label>
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    <link:label id="lab_ifrs-full_LegalProceedingsContingentLiabilityMember_262e6c13-c7c5-4211-8c5d-e0dd754b5676_terseLabel_en-US" xlink:label="lab_ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal proceedings contingent liability</link:label>
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    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_5cc85ca6-28f9-4a6f-a0df-9e37358af6e3_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Taxes (paid)/proceeds</link:label>
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    <link:label id="lab_tef_PerpetualMidcoLimitedMember_7bef809e-9bd7-4200-bd7a-d85cde7c7491_terseLabel_en-US" xlink:label="lab_tef_PerpetualMidcoLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Perpetual Midco Limited</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_PerpetualMidcoLimitedMember" xlink:href="tef-20221231.xsd#tef_PerpetualMidcoLimitedMember"/>
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    <link:label id="lab_tef_NonCurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers_0cf6305e-ce3e-4322-b4bd-6267ae7a9e41_terseLabel_en-US" xlink:label="lab_tef_NonCurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred expenses (Note 23)</link:label>
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    <link:label id="lab_tef_NoncurrentFinancialAssetsAtFairValue_documentation_en-US" xlink:label="lab_tef_NoncurrentFinancialAssetsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncurrent Financial Assets, At Fair Value</link:label>
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    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_d28077b5-48ce-4d10-92a7-ad56d782cd26_terseLabel_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_label_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests</link:label>
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    <link:label id="lab_ifrs-full_StatementOfChangesInEquityLineItems_80d755cc-0405-4388-abfa-5f28510ebb93_terseLabel_en-US" xlink:label="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statement of changes in equity [line items]</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfContingentLiabilitiesAxis_a50f2ed7-7e6f-43db-8bdf-ac22d1ec1831_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Classes of contingent liabilities [axis]</link:label>
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    <link:label id="lab_tef_Increasedecreasethroughmonetaryupdatingotherprovisions_a40b719e-6533-40b3-8020-b325913b9931_terseLabel_en-US" xlink:label="lab_tef_Increasedecreasethroughmonetaryupdatingotherprovisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Monetary updating</link:label>
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    <link:label id="lab_tef_SensitivityAnalysisIncreaseInEquityDueToIncreaseInInterestRate_25ece61c-bbba-4fa4-9673-3550593ccf3c_terseLabel_en-US" xlink:label="lab_tef_SensitivityAnalysisIncreaseInEquityDueToIncreaseInInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase in consolidated equity</link:label>
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    <link:label id="lab_tef_ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted_cddc6c44-afc3-4a85-a3d7-c3c16dd9889f_terseLabel_en-US" xlink:label="lab_tef_ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease liabilities not yet commenced</link:label>
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    <link:label id="lab_ifrs-full_TaxEffectFromChangeInTaxRate_4c1c5955-6475-4e40-a844-7b94f79d71da_terseLabel_en-US" xlink:label="lab_ifrs-full_TaxEffectFromChangeInTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Changes in deferred tax charge due to changes in tax rates</link:label>
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    <link:label id="lab_ifrs-full_OtherRevenue_label_en-US" xlink:label="lab_ifrs-full_OtherRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherRevenue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherRevenue" xlink:to="lab_ifrs-full_OtherRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_GrupoOiMobileBusinessMember_a8a6ff62-18e8-4bbe-b789-ebd823d767f4_terseLabel_en-US" xlink:label="lab_tef_GrupoOiMobileBusinessMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Grupo Oi Mobile Business</link:label>
    <link:label id="lab_tef_GrupoOiMobileBusinessMember_label_en-US" xlink:label="lab_tef_GrupoOiMobileBusinessMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Grupo Oi Mobile Business [Member]</link:label>
    <link:label id="lab_tef_GrupoOiMobileBusinessMember_documentation_en-US" xlink:label="lab_tef_GrupoOiMobileBusinessMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Grupo Oi Mobile Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_GrupoOiMobileBusinessMember" xlink:href="tef-20221231.xsd#tef_GrupoOiMobileBusinessMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_GrupoOiMobileBusinessMember" xlink:to="lab_tef_GrupoOiMobileBusinessMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2029Member_19b25ed0-1fe8-4a7e-a980-8055586a7d68_terseLabel_en-US" xlink:label="lab_tef_Expiringin2029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2029</link:label>
    <link:label id="lab_tef_Expiringin2029Member_label_en-US" xlink:label="lab_tef_Expiringin2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2029 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2029Member_documentation_en-US" xlink:label="lab_tef_Expiringin2029Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2029 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2029Member" xlink:href="tef-20221231.xsd#tef_Expiringin2029Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2029Member" xlink:to="lab_tef_Expiringin2029Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_0426b111-c8f4-4fb1-9eca-00c9b3ebc1cb_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of share-based payment arrangements [axis]</link:label>
    <link:label id="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_label_en-US" xlink:label="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of share-based payment arrangements [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfJointVenturesTable_2136b6c0-42fa-404d-8abb-66c5dcf900c7_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfJointVenturesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of joint ventures [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfJointVenturesTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfJointVenturesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of joint ventures [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfJointVenturesTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfJointVenturesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfJointVenturesTable" xlink:to="lab_ifrs-full_DisclosureOfJointVenturesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock_41018df2-7378-43b3-ba93-885dcb0e7ffd_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Detailed Information on Operations Classified as Held for Sale and Liabilities Associated</link:label>
    <link:label id="lab_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock_label_en-US" xlink:label="lab_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Detailed Information On Operations Classified As Held For Sale And Liabilities Associated [Table Text Block]</link:label>
    <link:label id="lab_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock_documentation_en-US" xlink:label="lab_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Detailed Information On Operations Classified As Held For Sale And Liabilities Associated [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock" xlink:to="lab_tef_DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HousingServicesProvisionAgreementTerm_dcb47abb-8503-4b52-b342-6e37433cd37b_terseLabel_en-US" xlink:label="lab_tef_HousingServicesProvisionAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Housing services provision agreement term</link:label>
    <link:label id="lab_tef_HousingServicesProvisionAgreementTerm_label_en-US" xlink:label="lab_tef_HousingServicesProvisionAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Housing Services Provision Agreement, Term</link:label>
    <link:label id="lab_tef_HousingServicesProvisionAgreementTerm_documentation_en-US" xlink:label="lab_tef_HousingServicesProvisionAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Housing Services Provision Agreement, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_HousingServicesProvisionAgreementTerm" xlink:href="tef-20221231.xsd#tef_HousingServicesProvisionAgreementTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HousingServicesProvisionAgreementTerm" xlink:to="lab_tef_HousingServicesProvisionAgreementTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncome_148f05de-42f4-4385-9b5c-99cc109fd8ab_totalLabel_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total comprehensive income (loss) for the year</link:label>
    <link:label id="lab_ifrs-full_ComprehensiveIncome_label_en-US" xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Comprehensive income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncome" xlink:to="lab_ifrs-full_ComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_8bd47110-6494-40c9-a670-273f55860f8d_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions other than through business combinations, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProportionOfGrossDebt_d75868d5-4959-44b7-9d53-b8cb46375c6e_terseLabel_en-US" xlink:label="lab_tef_ProportionOfGrossDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of gross debt (as a percent)</link:label>
    <link:label id="lab_tef_ProportionOfGrossDebt_label_en-US" xlink:label="lab_tef_ProportionOfGrossDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion Of Gross Debt</link:label>
    <link:label id="lab_tef_ProportionOfGrossDebt_documentation_en-US" xlink:label="lab_tef_ProportionOfGrossDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion Of Gross Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProportionOfGrossDebt" xlink:href="tef-20221231.xsd#tef_ProportionOfGrossDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProportionOfGrossDebt" xlink:to="lab_tef_ProportionOfGrossDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate_f240692f-4383-4ba6-80ec-10fee8c012ce_terseLabel_en-US" xlink:label="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Change in key assumption rate (as a percent)</link:label>
    <link:label id="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate_f73a5d50-7a2c-4602-adcc-f6685c677dfe_verboseLabel_en-US" xlink:label="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spread (as a percent)</link:label>
    <link:label id="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate_label_en-US" xlink:label="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sensitivity Analysis, Basis Spread On Variable Rate</link:label>
    <link:label id="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate_documentation_en-US" xlink:label="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sensitivity Analysis, Basis Spread On Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SensitivityAnalysisBasisSpreadOnVariableRate" xlink:href="tef-20221231.xsd#tef_SensitivityAnalysisBasisSpreadOnVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SensitivityAnalysisBasisSpreadOnVariableRate" xlink:to="lab_tef_SensitivityAnalysisBasisSpreadOnVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember_1b5de618-6152-43e1-9de7-eddf91f5aebe_terseLabel_en-US" xlink:label="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal groups classified as held for sale</link:label>
    <link:label id="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember_label_en-US" xlink:label="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal groups classified as held for sale [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:to="lab_ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageOfPopulationCoveredIn4GNetwork_dcefee3f-6eab-40eb-9024-a323c1df2e02_terseLabel_en-US" xlink:label="lab_tef_PercentageOfPopulationCoveredIn4GNetwork" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Population covered in 4G network (in percentage)</link:label>
    <link:label id="lab_tef_PercentageOfPopulationCoveredIn4GNetwork_label_en-US" xlink:label="lab_tef_PercentageOfPopulationCoveredIn4GNetwork" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Population Covered In 4G Network</link:label>
    <link:label id="lab_tef_PercentageOfPopulationCoveredIn4GNetwork_documentation_en-US" xlink:label="lab_tef_PercentageOfPopulationCoveredIn4GNetwork" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Population Covered In 4G Network</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfPopulationCoveredIn4GNetwork" xlink:href="tef-20221231.xsd#tef_PercentageOfPopulationCoveredIn4GNetwork"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PercentageOfPopulationCoveredIn4GNetwork" xlink:to="lab_tef_PercentageOfPopulationCoveredIn4GNetwork" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AuditorsRemunerationTable_2d6eba4e-0545-4a75-9480-ab6c2d3eb657_terseLabel_en-US" xlink:label="lab_tef_AuditorsRemunerationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditors Remuneration [Table]</link:label>
    <link:label id="lab_tef_AuditorsRemunerationTable_label_en-US" xlink:label="lab_tef_AuditorsRemunerationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditors Remuneration [Table]</link:label>
    <link:label id="lab_tef_AuditorsRemunerationTable_documentation_en-US" xlink:label="lab_tef_AuditorsRemunerationTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditors Remuneration [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AuditorsRemunerationTable" xlink:href="tef-20221231.xsd#tef_AuditorsRemunerationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AuditorsRemunerationTable" xlink:to="lab_tef_AuditorsRemunerationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2025Option1Member_815a7eb0-0718-4c3e-b5a9-50bef1393e23_terseLabel_en-US" xlink:label="lab_tef_Expiringin2025Option1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 1</link:label>
    <link:label id="lab_tef_Expiringin2025Option1Member_label_en-US" xlink:label="lab_tef_Expiringin2025Option1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 1 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2025Option1Member_documentation_en-US" xlink:label="lab_tef_Expiringin2025Option1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2025Option1Member" xlink:href="tef-20221231.xsd#tef_Expiringin2025Option1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2025Option1Member" xlink:to="lab_tef_Expiringin2025Option1Member" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_DividendsPaidOrdinaryShares_48ae33e7-c1a6-4e0a-8120-cf09835edca7_terseLabel_en-US" xlink:label="lab_ifrs-full_DividendsPaidOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends paid, total amount</link:label>
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    <link:label id="lab_ifrs-full_LicencesAndFranchisesMember_6af18947-d10c-49dd-9812-f1cb8ea708ef_terseLabel_en-US" xlink:label="lab_ifrs-full_LicencesAndFranchisesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Service concession arrangements and licenses</link:label>
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    <link:label id="lab_ifrs-full_LicencesAndFranchisesMember_label_en-US" xlink:label="lab_ifrs-full_LicencesAndFranchisesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Licences and franchises [member]</link:label>
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    <link:label id="lab_tef_OtherDividendsMember_29ec37a1-5119-4181-90f5-8e09c3932661_terseLabel_en-US" xlink:label="lab_tef_OtherDividendsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
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    <link:label id="lab_tef_OtherDividendsMember_documentation_en-US" xlink:label="lab_tef_OtherDividendsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Dividends [Member]</link:label>
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    <link:label id="lab_ifrs-full_GrossCarryingAmountMember_f647d385-b549-44cc-a3cc-52935ad691e5_terseLabel_en-US" xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gross cost</link:label>
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    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill_0e75398b-2d39-4de3-864a-009b801eeb14_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences and hyperinflation adjustments</link:label>
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    <link:label id="lab_tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedges_bf4cf9d8-a19f-46b8-a95d-bf90072f2e23_negatedTerseLabel_en-US" xlink:label="lab_tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedges" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income tax impact</link:label>
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    <link:label id="lab_ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate_8f3c96aa-1c5b-42ea-9ac8-0fe1f368e344_terseLabel_en-US" xlink:label="lab_ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial debt</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AuditInformationAbstract" xlink:to="lab_tef_AuditInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TypesOfFinancialLiabilitiesAxis_c8fa181a-77f8-422c-b292-3ab63072d746_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of financial liabilities [axis]</link:label>
    <link:label id="lab_ifrs-full_TypesOfFinancialLiabilitiesAxis_label_en-US" xlink:label="lab_ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Types of financial liabilities [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TypesOfFinancialLiabilitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:to="lab_ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember_1d0ad6ed-9bd7-493d-aeab-572932a609e7_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1 to 3 years</link:label>
    <link:label id="lab_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Later than one year and not later than three years [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" xlink:to="lab_ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LossesOnLitigationSettlements_31525790-c57b-4b58-ad57-23468ae40488_terseLabel_en-US" xlink:label="lab_ifrs-full_LossesOnLitigationSettlements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Losses on litigation settlements</link:label>
    <link:label id="lab_ifrs-full_LossesOnLitigationSettlements_label_en-US" xlink:label="lab_ifrs-full_LossesOnLitigationSettlements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Losses on litigation settlements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LossesOnLitigationSettlements" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LossesOnLitigationSettlements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LossesOnLitigationSettlements" xlink:to="lab_ifrs-full_LossesOnLitigationSettlements" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FirstCycleMember_727a4a0a-e791-44eb-8be6-19447c9d50f5_terseLabel_en-US" xlink:label="lab_tef_FirstCycleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">First cycle</link:label>
    <link:label id="lab_tef_FirstCycleMember_label_en-US" xlink:label="lab_tef_FirstCycleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">First Cycle [Member]</link:label>
    <link:label id="lab_tef_FirstCycleMember_documentation_en-US" xlink:label="lab_tef_FirstCycleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">First Cycle [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FirstCycleMember" xlink:href="tef-20221231.xsd#tef_FirstCycleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FirstCycleMember" xlink:to="lab_tef_FirstCycleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtecelMember_32df049b-e1e0-4f7b-bbea-31c2eaa7f69e_terseLabel_en-US" xlink:label="lab_tef_OtecelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Otecel, S.A. Wireless communications services provider</link:label>
    <link:label id="lab_tef_OtecelMember_label_en-US" xlink:label="lab_tef_OtecelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Otecel [Member]</link:label>
    <link:label id="lab_tef_OtecelMember_documentation_en-US" xlink:label="lab_tef_OtecelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Otecel [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtecelMember" xlink:href="tef-20221231.xsd#tef_OtecelMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtecelMember" xlink:to="lab_tef_OtecelMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_9c050af5-c7cc-4f6f-8569-65851e329023_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences and hyperinflation adjustments</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through net exchange differences, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_LaLigaTVBarChannelMember_d08c7663-14a0-494b-a1d2-11807b201c9b_terseLabel_en-US" xlink:label="lab_tef_LaLigaTVBarChannelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">LaLiga TV Bar Channel</link:label>
    <link:label id="lab_tef_LaLigaTVBarChannelMember_label_en-US" xlink:label="lab_tef_LaLigaTVBarChannelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">LaLiga TV Bar Channel [Member]</link:label>
    <link:label id="lab_tef_LaLigaTVBarChannelMember_documentation_en-US" xlink:label="lab_tef_LaLigaTVBarChannelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">LaLiga TV Bar Channel</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_LaLigaTVBarChannelMember" xlink:href="tef-20221231.xsd#tef_LaLigaTVBarChannelMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_LaLigaTVBarChannelMember" xlink:to="lab_tef_LaLigaTVBarChannelMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents_2d9e9212-a156-4261-9ca8-feaa84319dd8_terseLabel_en-US" xlink:label="lab_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Effect of changes in consolidation methods and others</link:label>
    <link:label id="lab_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents_label_en-US" xlink:label="lab_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Effect Of Changes In Consolidation Methods And Others On Cash And Cash Equivalents</link:label>
    <link:label id="lab_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents_documentation_en-US" xlink:label="lab_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Effect Of Changes In Consolidation Methods And Others On Cash And Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" xlink:href="tef-20221231.xsd#tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" xlink:to="lab_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_Security12bTitle_d182d1af-2334-410e-94dd-05083f30006a_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BETernaAGSwitzerlandMember_dea8f4e2-91bb-4c26-b4ee-62199c0d3b76_terseLabel_en-US" xlink:label="lab_tef_BETernaAGSwitzerlandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna AG (Switzerland)</link:label>
    <link:label id="lab_tef_BETernaAGSwitzerlandMember_label_en-US" xlink:label="lab_tef_BETernaAGSwitzerlandMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna AG (Switzerland) [Member]</link:label>
    <link:label id="lab_tef_BETernaAGSwitzerlandMember_documentation_en-US" xlink:label="lab_tef_BETernaAGSwitzerlandMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna AG (Switzerland)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaAGSwitzerlandMember" xlink:href="tef-20221231.xsd#tef_BETernaAGSwitzerlandMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BETernaAGSwitzerlandMember" xlink:to="lab_tef_BETernaAGSwitzerlandMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FUSTFISTELandEBCTaxAuthoritiesMember_82c2aefa-e9ce-4ecd-848a-14c533389a6e_terseLabel_en-US" xlink:label="lab_tef_FUSTFISTELandEBCTaxAuthoritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FUST</link:label>
    <link:label id="lab_tef_FUSTFISTELandEBCTaxAuthoritiesMember_label_en-US" xlink:label="lab_tef_FUSTFISTELandEBCTaxAuthoritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FUST, FISTEL and EBC Tax Authorities [Member]</link:label>
    <link:label id="lab_tef_FUSTFISTELandEBCTaxAuthoritiesMember_documentation_en-US" xlink:label="lab_tef_FUSTFISTELandEBCTaxAuthoritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FUST, FISTEL and EBC Tax Authorities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FUSTFISTELandEBCTaxAuthoritiesMember" xlink:href="tef-20221231.xsd#tef_FUSTFISTELandEBCTaxAuthoritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FUSTFISTELandEBCTaxAuthoritiesMember" xlink:to="lab_tef_FUSTFISTELandEBCTaxAuthoritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TerraNetworksBrasilMember_e2e181c8-a769-4d25-94f3-21ca297e8c43_terseLabel_en-US" xlink:label="lab_tef_TerraNetworksBrasilMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Terra Networks Brasil [Member]</link:label>
    <link:label id="lab_tef_TerraNetworksBrasilMember_label_en-US" xlink:label="lab_tef_TerraNetworksBrasilMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Terra Networks Brasil [Member]</link:label>
    <link:label id="lab_tef_TerraNetworksBrasilMember_documentation_en-US" xlink:label="lab_tef_TerraNetworksBrasilMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Terra Networks Brasil [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TerraNetworksBrasilMember" xlink:href="tef-20221231.xsd#tef_TerraNetworksBrasilMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TerraNetworksBrasilMember" xlink:to="lab_tef_TerraNetworksBrasilMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CurrentIncomeTaxesPayable_54bfb580-c89f-448a-96d4-1817ef68f67a_terseLabel_en-US" xlink:label="lab_tef_CurrentIncomeTaxesPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current income taxes payable</link:label>
    <link:label id="lab_tef_CurrentIncomeTaxesPayable_label_en-US" xlink:label="lab_tef_CurrentIncomeTaxesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Income Taxes Payable</link:label>
    <link:label id="lab_tef_CurrentIncomeTaxesPayable_documentation_en-US" xlink:label="lab_tef_CurrentIncomeTaxesPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Income Taxes Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentIncomeTaxesPayable" xlink:href="tef-20221231.xsd#tef_CurrentIncomeTaxesPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CurrentIncomeTaxesPayable" xlink:to="lab_tef_CurrentIncomeTaxesPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Gainslossesoncashflowhedgescostsbeforetax_f0b5a3bd-64f4-4c73-9c43-28596726fb80_terseLabel_en-US" xlink:label="lab_tef_Gainslossesoncashflowhedgescostsbeforetax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on hedges costs</link:label>
    <link:label id="lab_tef_Gainslossesoncashflowhedgescostsbeforetax_label_en-US" xlink:label="lab_tef_Gainslossesoncashflowhedgescostsbeforetax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on cash flow hedges costs, before tax</link:label>
    <link:label id="lab_tef_Gainslossesoncashflowhedgescostsbeforetax_documentation_en-US" xlink:label="lab_tef_Gainslossesoncashflowhedgescostsbeforetax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (losses) on cash flow hedges costs, before tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Gainslossesoncashflowhedgescostsbeforetax" xlink:href="tef-20221231.xsd#tef_Gainslossesoncashflowhedgescostsbeforetax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Gainslossesoncashflowhedgescostsbeforetax" xlink:to="lab_tef_Gainslossesoncashflowhedgescostsbeforetax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_UnusedProvisionReversedOtherProvisions_2c3137b4-0d75-4ab5-852c-aca8f4cd10c5_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Movements with a counterparty in the income statement</link:label>
    <link:label id="lab_ifrs-full_UnusedProvisionReversedOtherProvisions_2b6584a0-07e6-4ecd-863a-fd4eb1adfac0_terseLabel_en-US" xlink:label="lab_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unused provision reversed, other provisions</link:label>
    <link:label id="lab_ifrs-full_UnusedProvisionReversedOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unused provision reversed, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_UnusedProvisionReversedOtherProvisions"/>
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    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_6a58a807-ef15-47da-b190-440129c94e1b_terseLabel_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_5873f47e-4db8-495e-9704-1d6b1cc7f044_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments accounted for by the equity method</link:label>
    <link:label id="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_b65edf9e-3b35-4dab-8412-919ee7cdcf0c_netLabel_en-US" xlink:label="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Carrying amount in the Telef&#243;nica Group</link:label>
    <link:label id="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod_label_en-US" xlink:label="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in associates accounted for using equity method</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SaleOfDisposalGroupsRightOfUseAssets_7d20c768-f5f5-47b2-96ee-7001c6e235b6_terseLabel_en-US" xlink:label="lab_tef_SaleOfDisposalGroupsRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of the towers division of Telxius</link:label>
    <link:label id="lab_tef_SaleOfDisposalGroupsRightOfUseAssets_d79f1dab-11bd-44ee-90d5-294d9578eceb_verboseLabel_en-US" xlink:label="lab_tef_SaleOfDisposalGroupsRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Right-of-use assets, sale of disposal group</link:label>
    <link:label id="lab_tef_SaleOfDisposalGroupsRightOfUseAssets_label_en-US" xlink:label="lab_tef_SaleOfDisposalGroupsRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale Of Disposal Groups, Right-Of-Use Assets</link:label>
    <link:label id="lab_tef_SaleOfDisposalGroupsRightOfUseAssets_documentation_en-US" xlink:label="lab_tef_SaleOfDisposalGroupsRightOfUseAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale Of Disposal Groups, Right-Of-Use Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SaleOfDisposalGroupsRightOfUseAssets" xlink:href="tef-20221231.xsd#tef_SaleOfDisposalGroupsRightOfUseAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SaleOfDisposalGroupsRightOfUseAssets" xlink:to="lab_tef_SaleOfDisposalGroupsRightOfUseAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherAssetsMember_95611dbe-7d99-46d5-a856-e9cba109e11b_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other rights of use</link:label>
    <link:label id="lab_ifrs-full_OtherAssetsMember_6854d4ef-f0da-48cd-b697-38d3b2e4fff1_verboseLabel_en-US" xlink:label="lab_ifrs-full_OtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_ifrs-full_OtherAssetsMember_label_en-US" xlink:label="lab_ifrs-full_OtherAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other assets [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherAssetsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherAssetsMember" xlink:to="lab_ifrs-full_OtherAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfCashFlowsAbstract_7a821c52-3299-4262-bd27-1e858fc0f664_terseLabel_en-US" xlink:label="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
    <link:label id="lab_ifrs-full_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:to="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ConsiderationTransferredToDatePurchaseOfAssets_1ece939f-03a6-4268-9dbb-26a7e8b359b0_terseLabel_en-US" xlink:label="lab_tef_ConsiderationTransferredToDatePurchaseOfAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration transferred to date, purchase of assets</link:label>
    <link:label id="lab_tef_ConsiderationTransferredToDatePurchaseOfAssets_label_en-US" xlink:label="lab_tef_ConsiderationTransferredToDatePurchaseOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration transferred to date, purchase of assets</link:label>
    <link:label id="lab_tef_ConsiderationTransferredToDatePurchaseOfAssets_documentation_en-US" xlink:label="lab_tef_ConsiderationTransferredToDatePurchaseOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration transferred to date, purchase of assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ConsiderationTransferredToDatePurchaseOfAssets" xlink:href="tef-20221231.xsd#tef_ConsiderationTransferredToDatePurchaseOfAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ConsiderationTransferredToDatePurchaseOfAssets" xlink:to="lab_tef_ConsiderationTransferredToDatePurchaseOfAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OutstandingInvoicesFromSuppliers_684a94bb-eff5-48f1-8786-26ed34fd6bda_terseLabel_en-US" xlink:label="lab_tef_OutstandingInvoicesFromSuppliers" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding invoices</link:label>
    <link:label id="lab_tef_OutstandingInvoicesFromSuppliers_label_en-US" xlink:label="lab_tef_OutstandingInvoicesFromSuppliers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding Invoices From Suppliers</link:label>
    <link:label id="lab_tef_OutstandingInvoicesFromSuppliers_documentation_en-US" xlink:label="lab_tef_OutstandingInvoicesFromSuppliers" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding Invoices From Suppliers</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OutstandingInvoicesFromSuppliers" xlink:href="tef-20221231.xsd#tef_OutstandingInvoicesFromSuppliers"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OutstandingInvoicesFromSuppliers" xlink:to="lab_tef_OutstandingInvoicesFromSuppliers" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities_1ce402e2-57b7-41d9-bde0-effbcbbb1357_negatedTerseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reduction to tax expense due to decisions with tax authorities</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities_label_en-US" xlink:label="lab_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) In Tax Expense Due To Decisions With Tax Authorities</link:label>
    <link:label id="lab_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) In Tax Expense Due To Decisions With Tax Authorities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" xlink:to="lab_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_InfraCoSpAMember_645f9e80-fe53-4223-9866-5386d56fc806_terseLabel_en-US" xlink:label="lab_tef_InfraCoSpAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">InfraCo, SpA</link:label>
    <link:label id="lab_tef_InfraCoSpAMember_label_en-US" xlink:label="lab_tef_InfraCoSpAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">InfraCo, SpA [Member]</link:label>
    <link:label id="lab_tef_InfraCoSpAMember_documentation_en-US" xlink:label="lab_tef_InfraCoSpAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">InfraCo, SpA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_InfraCoSpAMember" xlink:href="tef-20221231.xsd#tef_InfraCoSpAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_InfraCoSpAMember" xlink:to="lab_tef_InfraCoSpAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage_2411cf3c-1f8d-4165-ba08-b59bb6c096fc_terseLabel_en-US" xlink:label="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Infrastructure contracts recognised as of acquisition date, percentage</link:label>
    <link:label id="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage_label_en-US" xlink:label="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Infrastructure contracts recognised as of acquisition date, percentage</link:label>
    <link:label id="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage_documentation_en-US" xlink:label="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Infrastructure Contracts Recognised As Of Acquisition Date, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage" xlink:href="tef-20221231.xsd#tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage" xlink:to="lab_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BilateralLoanDue2033Member_bb871943-404e-46ad-96b4-2bab8e10e446_terseLabel_en-US" xlink:label="lab_tef_BilateralLoanDue2033Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due 2033</link:label>
    <link:label id="lab_tef_BilateralLoanDue2033Member_label_en-US" xlink:label="lab_tef_BilateralLoanDue2033Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due 2033 [Member]</link:label>
    <link:label id="lab_tef_BilateralLoanDue2033Member_documentation_en-US" xlink:label="lab_tef_BilateralLoanDue2033Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due 2033</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BilateralLoanDue2033Member" xlink:href="tef-20221231.xsd#tef_BilateralLoanDue2033Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BilateralLoanDue2033Member" xlink:to="lab_tef_BilateralLoanDue2033Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CurrentProvisionsForOtherEmployeeBenefits_5e250320-8cb1-436a-a9b9-bdfb21c6919b_terseLabel_en-US" xlink:label="lab_tef_CurrentProvisionsForOtherEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other benefits</link:label>
    <link:label id="lab_tef_CurrentProvisionsForOtherEmployeeBenefits_label_en-US" xlink:label="lab_tef_CurrentProvisionsForOtherEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Provisions For Other Employee Benefits</link:label>
    <link:label id="lab_tef_CurrentProvisionsForOtherEmployeeBenefits_documentation_en-US" xlink:label="lab_tef_CurrentProvisionsForOtherEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Provisions For Other Employee Benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentProvisionsForOtherEmployeeBenefits" xlink:href="tef-20221231.xsd#tef_CurrentProvisionsForOtherEmployeeBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CurrentProvisionsForOtherEmployeeBenefits" xlink:to="lab_tef_CurrentProvisionsForOtherEmployeeBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage_a74e6bc6-71d4-4e7f-abd7-e5e1b2d629ff_terseLabel_en-US" xlink:label="lab_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase legal claim in Peru, tax litigation, (in percent)</link:label>
    <link:label id="lab_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage_label_en-US" xlink:label="lab_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase Legal Claim In Peru, Tax Litigation, Percentage</link:label>
    <link:label id="lab_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage_documentation_en-US" xlink:label="lab_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase Legal Claim In Peru, Tax Litigation, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage" xlink:href="tef-20221231.xsd#tef_IncreaseLegalClaimInPeruTaxLitigationPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage" xlink:to="lab_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestExpense_da5599e9-a0af-465b-a5f2-e3d0bf16b423_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_InterestExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest expenses</link:label>
    <link:label id="lab_ifrs-full_InterestExpense_label_en-US" xlink:label="lab_ifrs-full_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpense" xlink:to="lab_ifrs-full_InterestExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_b6023886-feee-47a3-ac32-1e6e996291be_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables and Other Non-current Liabilities</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of other non-current liabilities [text block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ViceChairmanMember_8ba01617-45c5-4f2d-ad2c-1d228e4b4ec3_terseLabel_en-US" xlink:label="lab_tef_ViceChairmanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vice chairman</link:label>
    <link:label id="lab_tef_ViceChairmanMember_label_en-US" xlink:label="lab_tef_ViceChairmanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vice Chairman [Member]</link:label>
    <link:label id="lab_tef_ViceChairmanMember_documentation_en-US" xlink:label="lab_tef_ViceChairmanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vice Chairman [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ViceChairmanMember" xlink:href="tef-20221231.xsd#tef_ViceChairmanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ViceChairmanMember" xlink:to="lab_tef_ViceChairmanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Liabilities_31ba1876-9ad8-4d65-b0c1-0f4afc9f23b2_totalLabel_en-US" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total allocated liabilities</link:label>
    <link:label id="lab_ifrs-full_Liabilities_01796c92-3bc0-4a3b-a9b2-7e4d1465a7e4_verboseLabel_en-US" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_ifrs-full_Liabilities_26445faf-7ef4-4ea2-a910-a950a5df87e0_terseLabel_en-US" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total allocated liabilities</link:label>
    <link:label id="lab_ifrs-full_Liabilities_label_en-US" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Liabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Liabilities" xlink:to="lab_ifrs-full_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_MasterServicesAgreementInitialTerm_b76a325f-3d1d-4f83-bc70-9f4291ddfc87_terseLabel_en-US" xlink:label="lab_tef_MasterServicesAgreementInitialTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master services agreement, initial term</link:label>
    <link:label id="lab_tef_MasterServicesAgreementInitialTerm_label_en-US" xlink:label="lab_tef_MasterServicesAgreementInitialTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Initial Term</link:label>
    <link:label id="lab_tef_MasterServicesAgreementInitialTerm_documentation_en-US" xlink:label="lab_tef_MasterServicesAgreementInitialTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Initial Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_MasterServicesAgreementInitialTerm" xlink:href="tef-20221231.xsd#tef_MasterServicesAgreementInitialTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_MasterServicesAgreementInitialTerm" xlink:to="lab_tef_MasterServicesAgreementInitialTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LeaseLiabilitiesMember_5b380dfd-6b35-450e-be3c-e911a94fa063_terseLabel_en-US" xlink:label="lab_ifrs-full_LeaseLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease liabilities</link:label>
    <link:label id="lab_ifrs-full_LeaseLiabilitiesMember_label_en-US" xlink:label="lab_ifrs-full_LeaseLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease liabilities [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LeaseLiabilitiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LeaseLiabilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LeaseLiabilitiesMember" xlink:to="lab_ifrs-full_LeaseLiabilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TELEFEMISIONESMARCH2019Member_d3d2b6bc-eae0-4e01-b18d-95381df6c760_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESMARCH2019Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES MARCH 2019</link:label>
    <link:label id="lab_tef_TELEFEMISIONESMARCH2019Member_label_en-US" xlink:label="lab_tef_TELEFEMISIONESMARCH2019Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES MARCH 2019 [Member]</link:label>
    <link:label id="lab_tef_TELEFEMISIONESMARCH2019Member_documentation_en-US" xlink:label="lab_tef_TELEFEMISIONESMARCH2019Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES MARCH 2019</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TELEFEMISIONESMARCH2019Member" xlink:href="tef-20221231.xsd#tef_TELEFEMISIONESMARCH2019Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TELEFEMISIONESMARCH2019Member" xlink:to="lab_tef_TELEFEMISIONESMARCH2019Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis_46de723e-8ebb-4590-8b94-9263f6c43c81_terseLabel_en-US" xlink:label="lab_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Categories of assets recognised from costs to obtain or fulfil contracts with customers [axis]</link:label>
    <link:label id="lab_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis_label_en-US" xlink:label="lab_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Categories of assets recognised from costs to obtain or fulfil contracts with customers [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis" xlink:to="lab_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_4a3b6aeb-bd02-4360-b41a-cc36fb99ed37_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization</link:label>
    <link:label id="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_efe65153-0b84-4c8f-bd20-8e4f03588bf0_terseLabel_en-US" xlink:label="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets (Note 6)</link:label>
    <link:label id="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortisation, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HybridBondMember_42e31a01-5bb8-4635-82f1-9f40ca8187f8_terseLabel_en-US" xlink:label="lab_tef_HybridBondMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hybrid Bond</link:label>
    <link:label id="lab_tef_HybridBondMember_label_en-US" xlink:label="lab_tef_HybridBondMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hybrid Bond [Member]</link:label>
    <link:label id="lab_tef_HybridBondMember_documentation_en-US" xlink:label="lab_tef_HybridBondMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hybrid Bond</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_HybridBondMember" xlink:href="tef-20221231.xsd#tef_HybridBondMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HybridBondMember" xlink:to="lab_tef_HybridBondMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Currentinventoriesmobileterminalandotherequipments_a69a5e9a-1674-43be-aecc-d42d726b9871_terseLabel_en-US" xlink:label="lab_tef_Currentinventoriesmobileterminalandotherequipments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mobile terminals and other equipments</link:label>
    <link:label id="lab_tef_Currentinventoriesmobileterminalandotherequipments_label_en-US" xlink:label="lab_tef_Currentinventoriesmobileterminalandotherequipments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current inventories, mobile terminal and other equipments</link:label>
    <link:label id="lab_tef_Currentinventoriesmobileterminalandotherequipments_documentation_en-US" xlink:label="lab_tef_Currentinventoriesmobileterminalandotherequipments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current inventories, mobile terminal and other equipments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Currentinventoriesmobileterminalandotherequipments" xlink:href="tef-20221231.xsd#tef_Currentinventoriesmobileterminalandotherequipments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Currentinventoriesmobileterminalandotherequipments" xlink:to="lab_tef_Currentinventoriesmobileterminalandotherequipments" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TaxAssociatedWithSaleOfInfraCoSpAMember_b3f9b661-6a9b-4648-9e89-de8007f78ae5_terseLabel_en-US" xlink:label="lab_tef_TaxAssociatedWithSaleOfInfraCoSpAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Associated with Sale of InfraCo, SpA</link:label>
    <link:label id="lab_tef_TaxAssociatedWithSaleOfInfraCoSpAMember_label_en-US" xlink:label="lab_tef_TaxAssociatedWithSaleOfInfraCoSpAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Associated with Sale of InfraCo, SpA [Member]</link:label>
    <link:label id="lab_tef_TaxAssociatedWithSaleOfInfraCoSpAMember_documentation_en-US" xlink:label="lab_tef_TaxAssociatedWithSaleOfInfraCoSpAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Associated with Sale of InfraCo, SpA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TaxAssociatedWithSaleOfInfraCoSpAMember" xlink:href="tef-20221231.xsd#tef_TaxAssociatedWithSaleOfInfraCoSpAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TaxAssociatedWithSaleOfInfraCoSpAMember" xlink:to="lab_tef_TaxAssociatedWithSaleOfInfraCoSpAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TEFGermanyMember_dbabf432-fe29-436c-9447-8783468e11e7_terseLabel_en-US" xlink:label="lab_tef_TEFGermanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEF Germany</link:label>
    <link:label id="lab_tef_TEFGermanyMember_label_en-US" xlink:label="lab_tef_TEFGermanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEF Germany [Member]</link:label>
    <link:label id="lab_tef_TEFGermanyMember_documentation_en-US" xlink:label="lab_tef_TEFGermanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEF Germany</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TEFGermanyMember" xlink:href="tef-20221231.xsd#tef_TEFGermanyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TEFGermanyMember" xlink:to="lab_tef_TEFGermanyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ThirdCycleMember_7ef295e8-4369-4a3f-81fc-7e93ac19dea4_terseLabel_en-US" xlink:label="lab_tef_ThirdCycleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Third Cycle</link:label>
    <link:label id="lab_tef_ThirdCycleMember_label_en-US" xlink:label="lab_tef_ThirdCycleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Third Cycle [Member]</link:label>
    <link:label id="lab_tef_ThirdCycleMember_documentation_en-US" xlink:label="lab_tef_ThirdCycleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Third Cycle</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ThirdCycleMember" xlink:href="tef-20221231.xsd#tef_ThirdCycleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ThirdCycleMember" xlink:to="lab_tef_ThirdCycleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwillMember_3bd533d8-5896-4e70-b314-fc045378fa96_terseLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets and goodwill [member]</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwillMember_label_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets and goodwill [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="lab_ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsInitialTerm_a806cd73-755f-4fb1-993d-9892ab47bf7c_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsInitialTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Initial term</link:label>
    <link:label id="lab_tef_RegulatoryOperationsInitialTerm_label_en-US" xlink:label="lab_tef_RegulatoryOperationsInitialTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Initial Term</link:label>
    <link:label id="lab_tef_RegulatoryOperationsInitialTerm_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsInitialTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Initial Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsInitialTerm" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsInitialTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsInitialTerm" xlink:to="lab_tef_RegulatoryOperationsInitialTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill_e9433ab3-31cf-4e57-8314-80162064f28f_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals</link:label>
    <link:label id="lab_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals, intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
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    <link:label id="lab_tef_JointVentureServiceAgreementOngoingServicesTerm_label_en-US" xlink:label="lab_tef_JointVentureServiceAgreementOngoingServicesTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Joint Venture, Service Agreement, Ongoing Services, Term</link:label>
    <link:label id="lab_tef_JointVentureServiceAgreementOngoingServicesTerm_documentation_en-US" xlink:label="lab_tef_JointVentureServiceAgreementOngoingServicesTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Joint Venture, Service Agreement, Ongoing Services, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_JointVentureServiceAgreementOngoingServicesTerm" xlink:href="tef-20221231.xsd#tef_JointVentureServiceAgreementOngoingServicesTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_JointVentureServiceAgreementOngoingServicesTerm" xlink:to="lab_tef_JointVentureServiceAgreementOngoingServicesTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AmericanDepositarySharesMember_bbb42227-332c-44d0-8733-3353569c5a74_terseLabel_en-US" xlink:label="lab_tef_AmericanDepositarySharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">American depositary shares</link:label>
    <link:label id="lab_tef_AmericanDepositarySharesMember_label_en-US" xlink:label="lab_tef_AmericanDepositarySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">American Depositary Shares [Member]</link:label>
    <link:label id="lab_tef_AmericanDepositarySharesMember_documentation_en-US" xlink:label="lab_tef_AmericanDepositarySharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">American Depositary Shares</link:label>
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    <link:label id="lab_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember_240216b2-4015-4e67-bac5-1f7b8fba5f02_terseLabel_en-US" xlink:label="lab_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 1st Program International Issue (1sr Serie A)</link:label>
    <link:label id="lab_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember_label_en-US" xlink:label="lab_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 1st Program International Issue (1st Series A) [Member]</link:label>
    <link:label id="lab_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember_documentation_en-US" xlink:label="lab_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 1st Program International Issue (1st Series A) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember" xlink:href="tef-20221231.xsd#tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember" xlink:to="lab_tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesAxis_cf66f3ff-1010-4397-8c68-cbf611ab459c_terseLabel_en-US" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets and liabilities [axis]</link:label>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesAxis_label_en-US" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets and liabilities [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAndLiabilitiesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AssetsAndLiabilitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAndLiabilitiesAxis" xlink:to="lab_ifrs-full_AssetsAndLiabilitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OperacionesTecnologicasyComercialesS.A.S.Member_6e5adc11-dd96-4e18-a867-2aaf7b747f41_terseLabel_en-US" xlink:label="lab_tef_OperacionesTecnologicasyComercialesS.A.S.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operaciones Tecnol&#243;gicas y Comerciales S.A.S Communications services operator</link:label>
    <link:label id="lab_tef_OperacionesTecnologicasyComercialesS.A.S.Member_label_en-US" xlink:label="lab_tef_OperacionesTecnologicasyComercialesS.A.S.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operaciones Tecnologicas y Comerciales S.A.S. [Member]</link:label>
    <link:label id="lab_tef_OperacionesTecnologicasyComercialesS.A.S.Member_documentation_en-US" xlink:label="lab_tef_OperacionesTecnologicasyComercialesS.A.S.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operaciones Tecnologicas y Comerciales S.A.S. [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OperacionesTecnologicasyComercialesS.A.S.Member" xlink:to="lab_tef_OperacionesTecnologicasyComercialesS.A.S.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset_99e79586-9c48-495a-ba8b-e3aadfabf6d1_terseLabel_en-US" xlink:label="lab_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers</link:label>
    <link:label id="lab_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset_label_en-US" xlink:label="lab_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through transfers, net defined benefit liability (asset)</link:label>
    <link:label id="lab_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset_documentation_en-US" xlink:label="lab_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through transfers, net defined benefit liability (asset)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset" xlink:href="tef-20221231.xsd#tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset"/>
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    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_8615c891-99ae-45b7-9c23-e84484015360_terseLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_18b5a809-6989-410b-a98b-06df3850950f_periodStartLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_82e4aa6a-d977-47a0-bffe-31f4c8161e49_periodEndLabel_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_label_en-US" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets other than goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity_902cadfe-1c4c-48b5-ae23-03f987b36d79_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Change in translation differences</link:label>
    <link:label id="lab_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity_label_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Change In Translation Differences, Equity</link:label>
    <link:label id="lab_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Change In Translation Differences, Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" xlink:to="lab_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RentalExpense_78fd8ecd-82bc-47c3-ac20-cc18114ff246_terseLabel_en-US" xlink:label="lab_ifrs-full_RentalExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leases included in Other expenses</link:label>
    <link:label id="lab_ifrs-full_RentalExpense_label_en-US" xlink:label="lab_ifrs-full_RentalExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rental expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RentalExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RentalExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RentalExpense" xlink:to="lab_ifrs-full_RentalExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevaluationSurplus_95ae5997-3039-4547-8b5b-9e641a508ea1_terseLabel_en-US" xlink:label="lab_ifrs-full_RevaluationSurplus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revaluation reserve</link:label>
    <link:label id="lab_ifrs-full_RevaluationSurplus_label_en-US" xlink:label="lab_ifrs-full_RevaluationSurplus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revaluation surplus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevaluationSurplus" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevaluationSurplus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevaluationSurplus" xlink:to="lab_ifrs-full_RevaluationSurplus" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HedgesinEquityIncreaseDecreasefromOtherMovements_6ffc2bec-b691-4234-a588-aec05730152e_terseLabel_en-US" xlink:label="lab_tef_HedgesinEquityIncreaseDecreasefromOtherMovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other movements</link:label>
    <link:label id="lab_tef_HedgesinEquityIncreaseDecreasefromOtherMovements_label_en-US" xlink:label="lab_tef_HedgesinEquityIncreaseDecreasefromOtherMovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges in Equity, Increase (Decrease) from Other Movements</link:label>
    <link:label id="lab_tef_HedgesinEquityIncreaseDecreasefromOtherMovements_documentation_en-US" xlink:label="lab_tef_HedgesinEquityIncreaseDecreasefromOtherMovements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges in Equity, Increase (Decrease) from Other Movements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_HedgesinEquityIncreaseDecreasefromOtherMovements" xlink:href="tef-20221231.xsd#tef_HedgesinEquityIncreaseDecreasefromOtherMovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HedgesinEquityIncreaseDecreasefromOtherMovements" xlink:to="lab_tef_HedgesinEquityIncreaseDecreasefromOtherMovements" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SyndicatedLoanDueDecember172026Member_81c2cf0d-fc04-409d-82a5-73725b58f62c_terseLabel_en-US" xlink:label="lab_tef_SyndicatedLoanDueDecember172026Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due December 17, 2026</link:label>
    <link:label id="lab_tef_SyndicatedLoanDueDecember172026Member_label_en-US" xlink:label="lab_tef_SyndicatedLoanDueDecember172026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due December 17, 2026 [Member]</link:label>
    <link:label id="lab_tef_SyndicatedLoanDueDecember172026Member_documentation_en-US" xlink:label="lab_tef_SyndicatedLoanDueDecember172026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated Loan Due December 17, 2026</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SyndicatedLoanDueDecember172026Member" xlink:href="tef-20221231.xsd#tef_SyndicatedLoanDueDecember172026Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SyndicatedLoanDueDecember172026Member" xlink:to="lab_tef_SyndicatedLoanDueDecember172026Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems_be2c792f-8ce9-4f8c-984b-16c0c2bb8971_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of maturity analysis of operating lease payments [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of maturity analysis of operating lease payments [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems" xlink:to="lab_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin20222024Member_5aa88ccc-5783-4c47-b33f-e5d10674c4f0_terseLabel_en-US" xlink:label="lab_tef_Expiringin20222024Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022-2024</link:label>
    <link:label id="lab_tef_Expiringin20222024Member_label_en-US" xlink:label="lab_tef_Expiringin20222024Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022-2024 [Member]</link:label>
    <link:label id="lab_tef_Expiringin20222024Member_documentation_en-US" xlink:label="lab_tef_Expiringin20222024Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022-2024 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin20222024Member" xlink:href="tef-20221231.xsd#tef_Expiringin20222024Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin20222024Member" xlink:to="lab_tef_Expiringin20222024Member" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentAbstract_7ca6c869-6dc5-4742-849c-7cdbb4b67162_terseLabel_en-US" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, plant and equipment [abstract]</link:label>
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    <link:label id="lab_ifrs-full_DecreaseThroughTransferToLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSaleOtherProvisions_a07dd04a-cfe2-48dc-91a6-15c7ad337718_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DecreaseThroughTransferToLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSaleOtherProvisions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business sale</link:label>
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    <link:label id="lab_tef_ProvisionsForTerminationPlans_d04113ed-d35d-4fcf-a969-6383d08631c2_totalLabel_en-US" xlink:label="lab_tef_ProvisionsForTerminationPlans" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Termination plans</link:label>
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    <link:label id="lab_tef_ComunicacionesDigitalesSDeRLDeCVMember_a904e738-ee7c-4239-8b2b-8caea15d611f_terseLabel_en-US" xlink:label="lab_tef_ComunicacionesDigitalesSDeRLDeCVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Comunicaciones Digitales, S. de R.L. de C.V.</link:label>
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    <link:label id="lab_tef_FinancingDomain_documentation_en-US" xlink:label="lab_tef_FinancingDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing [Domain]</link:label>
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    <link:label id="lab_tef_IncomeStatementLocationAxis_2ed24621-a720-49b3-83d7-4861505990bb_terseLabel_en-US" xlink:label="lab_tef_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:label id="lab_tef_IncomeStatementLocationAxis_label_en-US" xlink:label="lab_tef_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:label id="lab_tef_IncomeStatementLocationAxis_documentation_en-US" xlink:label="lab_tef_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Statement Location [Axis]</link:label>
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    <link:label id="lab_tef_BusinessCombinationPaymentsToCancelAccountsPayable_3cc41f6a-d69b-4580-9e60-7bd0678b1fa6_terseLabel_en-US" xlink:label="lab_tef_BusinessCombinationPaymentsToCancelAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment obligations cancelled</link:label>
    <link:label id="lab_tef_BusinessCombinationPaymentsToCancelAccountsPayable_label_en-US" xlink:label="lab_tef_BusinessCombinationPaymentsToCancelAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business combination, payments to cancel accounts payable</link:label>
    <link:label id="lab_tef_BusinessCombinationPaymentsToCancelAccountsPayable_documentation_en-US" xlink:label="lab_tef_BusinessCombinationPaymentsToCancelAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business combination, payments to cancel accounts payable</link:label>
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    <link:label id="lab_tef_BilateralLoanDueJune232033Member_9ee7d05a-8da0-4c6e-860d-0a8a0d14d5f8_terseLabel_en-US" xlink:label="lab_tef_BilateralLoanDueJune232033Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due June 23, 2033</link:label>
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    <link:label id="lab_tef_BilateralLoanDueJune232033Member_documentation_en-US" xlink:label="lab_tef_BilateralLoanDueJune232033Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan Due June 23, 2033</link:label>
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    <link:label id="lab_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies_57775023-930b-4678-b90e-79aac521f0b0_terseLabel_en-US" xlink:label="lab_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions to right-of-use assets including companies held for sale and the sale of companies</link:label>
    <link:label id="lab_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies_label_en-US" xlink:label="lab_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions to right-of-use assets including companies held for sale and the sale of companies</link:label>
    <link:label id="lab_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies_documentation_en-US" xlink:label="lab_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions to right-of-use assets including companies held for sale and the sale of companies</link:label>
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    <link:label id="lab_tef_SensitivityAnalysisOfChangesInForeignCurrencyExchangeRatesTable_660bf576-95cb-4456-a2aa-c043f484c23c_terseLabel_en-US" xlink:label="lab_tef_SensitivityAnalysisOfChangesInForeignCurrencyExchangeRatesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sensitivity Analysis Of Changes In Foreign Currency Exchange Rates [Table]</link:label>
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    <link:label id="lab_tef_TescoMobileLtdMember_e72c972b-9dd8-417b-9aa2-0ec4750ab4cb_terseLabel_en-US" xlink:label="lab_tef_TescoMobileLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tesco Mobile Ltd.</link:label>
    <link:label id="lab_tef_TescoMobileLtdMember_label_en-US" xlink:label="lab_tef_TescoMobileLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tesco Mobile Ltd [Member]</link:label>
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    <link:label id="lab_tef_RegulatoryOperationsFrequencyRangeOwnedbyTelefonica_6a471edb-f9d5-455c-b7dd-758a4394db4f_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsFrequencyRangeOwnedbyTelefonica" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Frequency range owned by Telefonica (GHz)</link:label>
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    <link:label id="lab_tef_TelefonicaFinanzasMember_cfd1aab5-fdc2-44d5-a33f-c71a53c216dd_terseLabel_en-US" xlink:label="lab_tef_TelefonicaFinanzasMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Nova Casiopea RE S.A. Reinsurance</link:label>
    <link:label id="lab_tef_TelefonicaFinanzasMember_label_en-US" xlink:label="lab_tef_TelefonicaFinanzasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Finanzas [Member]</link:label>
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    <link:label id="lab_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions_5b7253ea-ddea-4b8f-ae67-c751889d680c_terseLabel_en-US" xlink:label="lab_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase of goods</link:label>
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    <link:label id="lab_tef_InmositesS.A.U.Member_5597a486-3eb4-48ea-bd31-b19812ca91b2_terseLabel_en-US" xlink:label="lab_tef_InmositesS.A.U.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inmosites, S.A.U. Purchase and rental of real estate related to the telecommunications infrastructure business</link:label>
    <link:label id="lab_tef_InmositesS.A.U.Member_label_en-US" xlink:label="lab_tef_InmositesS.A.U.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inmosites, S.A.U. [Member]</link:label>
    <link:label id="lab_tef_InmositesS.A.U.Member_documentation_en-US" xlink:label="lab_tef_InmositesS.A.U.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Inmosites, S.A.U. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_InmositesS.A.U.Member" xlink:href="tef-20221231.xsd#tef_InmositesS.A.U.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_InmositesS.A.U.Member" xlink:to="lab_tef_InmositesS.A.U.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_StructuredFinancingofTelefonicaEuropeMember_ca06b091-4a29-4619-befe-f7559869d1b0_terseLabel_en-US" xlink:label="lab_tef_StructuredFinancingofTelefonicaEuropeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Syndicated amortization by Telxius Telecom, S.A. (see Note 18)</link:label>
    <link:label id="lab_tef_StructuredFinancingofTelefonicaEuropeMember_label_en-US" xlink:label="lab_tef_StructuredFinancingofTelefonicaEuropeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Structured Financing of Telefonica Europe [Member]</link:label>
    <link:label id="lab_tef_StructuredFinancingofTelefonicaEuropeMember_documentation_en-US" xlink:label="lab_tef_StructuredFinancingofTelefonicaEuropeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Structured Financing of Telefonica Europe [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_StructuredFinancingofTelefonicaEuropeMember" xlink:href="tef-20221231.xsd#tef_StructuredFinancingofTelefonicaEuropeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_StructuredFinancingofTelefonicaEuropeMember" xlink:to="lab_tef_StructuredFinancingofTelefonicaEuropeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProposedDistributionOtherReserves_4fe52324-0890-4272-b93c-92f0252787d0_negatedTerseLabel_en-US" xlink:label="lab_tef_ProposedDistributionOtherReserves" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unrestricted reserves</link:label>
    <link:label id="lab_tef_ProposedDistributionOtherReserves_label_en-US" xlink:label="lab_tef_ProposedDistributionOtherReserves" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proposed Distribution, Other Reserves</link:label>
    <link:label id="lab_tef_ProposedDistributionOtherReserves_documentation_en-US" xlink:label="lab_tef_ProposedDistributionOtherReserves" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proposed Distribution, Other Reserves</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProposedDistributionOtherReserves" xlink:href="tef-20221231.xsd#tef_ProposedDistributionOtherReserves"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProposedDistributionOtherReserves" xlink:to="lab_tef_ProposedDistributionOtherReserves" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueFromDividends_dbc6fd5f-665b-4282-9e5d-941f9de17387_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueFromDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends received</link:label>
    <link:label id="lab_ifrs-full_RevenueFromDividends_label_en-US" xlink:label="lab_ifrs-full_RevenueFromDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividend income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromDividends" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromDividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueFromDividends" xlink:to="lab_ifrs-full_RevenueFromDividends" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IndefiniteOption1Member_b1238c84-3fc2-456d-a3d3-7a5dd0463c9d_terseLabel_en-US" xlink:label="lab_tef_IndefiniteOption1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 1</link:label>
    <link:label id="lab_tef_IndefiniteOption1Member_label_en-US" xlink:label="lab_tef_IndefiniteOption1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 1 [Member]</link:label>
    <link:label id="lab_tef_IndefiniteOption1Member_documentation_en-US" xlink:label="lab_tef_IndefiniteOption1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indefinite, Option 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IndefiniteOption1Member" xlink:href="tef-20221231.xsd#tef_IndefiniteOption1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IndefiniteOption1Member" xlink:to="lab_tef_IndefiniteOption1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember_511d10f8-7e7a-4d9c-93a9-3ed509e9896a_terseLabel_en-US" xlink:label="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Growth rate</link:label>
    <link:label id="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember_label_en-US" xlink:label="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Actuarial assumption of medical cost trend rates [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:to="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome_13682b1a-92c1-47cf-8e10-a35894192628_negatedLabel_en-US" xlink:label="lab_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income tax impact</link:label>
    <link:label id="lab_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome_label_en-US" xlink:label="lab_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income tax relating to cash flow hedges costs included in other comprehensive income</link:label>
    <link:label id="lab_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome_documentation_en-US" xlink:label="lab_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income tax relating to cash flow hedges costs included in other comprehensive income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" xlink:href="tef-20221231.xsd#tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" xlink:to="lab_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AcensTechnologiesMember_f27c8af0-1a63-41b7-b39e-67e33e2403e7_terseLabel_en-US" xlink:label="lab_tef_AcensTechnologiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Cybersecurity &amp; Cloud Tech Deutschland GmbH Cybersecurity, electronic information security and IT consulting</link:label>
    <link:label id="lab_tef_AcensTechnologiesMember_label_en-US" xlink:label="lab_tef_AcensTechnologiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acens Technologies [Member]</link:label>
    <link:label id="lab_tef_AcensTechnologiesMember_documentation_en-US" xlink:label="lab_tef_AcensTechnologiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acens Technologies [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AcensTechnologiesMember" xlink:href="tef-20221231.xsd#tef_AcensTechnologiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AcensTechnologiesMember" xlink:to="lab_tef_AcensTechnologiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_LaborClaimsProvisionMember_7c58dcfd-b7fa-4a40-88ec-8780f460fa1c_terseLabel_en-US" xlink:label="lab_tef_LaborClaimsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Labor claims</link:label>
    <link:label id="lab_tef_LaborClaimsProvisionMember_3ef152f6-e94f-437c-99aa-565d4ea4fa55_verboseLabel_en-US" xlink:label="lab_tef_LaborClaimsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Labor claims</link:label>
    <link:label id="lab_tef_LaborClaimsProvisionMember_label_en-US" xlink:label="lab_tef_LaborClaimsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Labor Claims Provision [Member]</link:label>
    <link:label id="lab_tef_LaborClaimsProvisionMember_documentation_en-US" xlink:label="lab_tef_LaborClaimsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Labor Claims Provision [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_LaborClaimsProvisionMember" xlink:href="tef-20221231.xsd#tef_LaborClaimsProvisionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_LaborClaimsProvisionMember" xlink:to="lab_tef_LaborClaimsProvisionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseThroughTransfersContractAssets_dcce66bf-f02b-4a7a-99b7-a5019420c11f_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughTransfersContractAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers</link:label>
    <link:label id="lab_tef_IncreaseDecreaseThroughTransfersContractAssets_label_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughTransfersContractAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Transfers, Contract Assets</link:label>
    <link:label id="lab_tef_IncreaseDecreaseThroughTransfersContractAssets_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughTransfersContractAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Transfers, Contract Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseThroughTransfersContractAssets" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseThroughTransfersContractAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncreaseDecreaseThroughTransfersContractAssets" xlink:to="lab_tef_IncreaseDecreaseThroughTransfersContractAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale_bfa0cc2c-cbb5-49f8-8c16-95e66013c103_terseLabel_en-US" xlink:label="lab_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period to qualify assets to condition necessary for intended use or sale</link:label>
    <link:label id="lab_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale_label_en-US" xlink:label="lab_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period To Qualify Assets To Condition Necessary For Intended Use Or Sale</link:label>
    <link:label id="lab_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale_documentation_en-US" xlink:label="lab_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period To Qualify Assets To Condition Necessary For Intended Use Or Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale" xlink:href="tef-20221231.xsd#tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale" xlink:to="lab_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncrementalGroupLimitedMember_a7a7ebe0-87a1-4c09-a746-731500d8382f_terseLabel_en-US" xlink:label="lab_tef_IncrementalGroupLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group Limited</link:label>
    <link:label id="lab_tef_IncrementalGroupLimitedMember_label_en-US" xlink:label="lab_tef_IncrementalGroupLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group Limited [Member]</link:label>
    <link:label id="lab_tef_IncrementalGroupLimitedMember_documentation_en-US" xlink:label="lab_tef_IncrementalGroupLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incremental Group Limited</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncrementalGroupLimitedMember" xlink:href="tef-20221231.xsd#tef_IncrementalGroupLimitedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_IncrementalGroupLimitedMember" xlink:to="lab_tef_IncrementalGroupLimitedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_O2EuropeLimitedMember_c97ab255-4cb2-480c-b2fd-c85049311cf0_terseLabel_en-US" xlink:label="lab_tef_O2EuropeLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 (Europe) Ltd. Holding company</link:label>
    <link:label id="lab_tef_O2EuropeLimitedMember_label_en-US" xlink:label="lab_tef_O2EuropeLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 (Europe) Limited [Member]</link:label>
    <link:label id="lab_tef_O2EuropeLimitedMember_documentation_en-US" xlink:label="lab_tef_O2EuropeLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 (Europe) Limited [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_O2EuropeLimitedMember" xlink:href="tef-20221231.xsd#tef_O2EuropeLimitedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_O2EuropeLimitedMember" xlink:to="lab_tef_O2EuropeLimitedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentsToAcquireIntangibleAssets1_9da1eb1c-9879-4fb6-aed8-488060a6a79b_terseLabel_en-US" xlink:label="lab_tef_PaymentsToAcquireIntangibleAssets1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum license payments</link:label>
    <link:label id="lab_tef_PaymentsToAcquireIntangibleAssets1_label_en-US" xlink:label="lab_tef_PaymentsToAcquireIntangibleAssets1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments To Acquire Intangible Assets1</link:label>
    <link:label id="lab_tef_PaymentsToAcquireIntangibleAssets1_documentation_en-US" xlink:label="lab_tef_PaymentsToAcquireIntangibleAssets1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments To Acquire Intangible Assets1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentsToAcquireIntangibleAssets1" xlink:href="tef-20221231.xsd#tef_PaymentsToAcquireIntangibleAssets1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentsToAcquireIntangibleAssets1" xlink:to="lab_tef_PaymentsToAcquireIntangibleAssets1" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageofShareCapitalSold_be2f5fe8-7030-485f-a5e3-b36051e9a11c_verboseLabel_en-US" xlink:label="lab_tef_PercentageofShareCapitalSold" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">% sold</link:label>
    <link:label id="lab_tef_PercentageofShareCapitalSold_label_en-US" xlink:label="lab_tef_PercentageofShareCapitalSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of Share Capital Sold</link:label>
    <link:label id="lab_tef_PercentageofShareCapitalSold_documentation_en-US" xlink:label="lab_tef_PercentageofShareCapitalSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of Share Capital Sold</link:label>
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    <link:label id="lab_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_7efed008-d307-4012-a7cf-d543a24382b9_terseLabel_en-US" xlink:label="lab_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds on loans, borrowings and promissory notes</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory_a3f46f79-8f10-45ed-813d-28b9a78371b6_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial Liabilities</link:label>
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    <link:label id="lab_tef_PercentageOfTotalCommitmentsOfJointVenture_4a601eb1-ba63-45cd-8811-5e02eed50308_terseLabel_en-US" xlink:label="lab_tef_PercentageOfTotalCommitmentsOfJointVenture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total commitments of joint venture (in percent)</link:label>
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    <link:label id="lab_tef_PercentageOfTotalCommitmentsOfJointVenture_documentation_en-US" xlink:label="lab_tef_PercentageOfTotalCommitmentsOfJointVenture" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Total Commitments Of Joint Venture</link:label>
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    <link:label id="lab_tef_ContractTerminationMember_a8d89c93-ae84-4cf5-85ed-8b48f398b0ad_terseLabel_en-US" xlink:label="lab_tef_ContractTerminationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provision for fines for canceling lease agreements</link:label>
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    <link:label id="lab_tef_ContractTerminationMember_documentation_en-US" xlink:label="lab_tef_ContractTerminationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contract Termination</link:label>
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    <link:label id="lab_tef_CurrentProvisionsForTerminationPlans_documentation_en-US" xlink:label="lab_tef_CurrentProvisionsForTerminationPlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Provisions For Termination Plans</link:label>
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    <link:label id="lab_tef_CommitmentTypeDomain_f106a7db-860f-4076-9dcc-252601f605dc_terseLabel_en-US" xlink:label="lab_tef_CommitmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment Type [Domain]</link:label>
    <link:label id="lab_tef_CommitmentTypeDomain_label_en-US" xlink:label="lab_tef_CommitmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment Type [Domain]</link:label>
    <link:label id="lab_tef_CommitmentTypeDomain_documentation_en-US" xlink:label="lab_tef_CommitmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment Type [Domain]</link:label>
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    <link:label id="lab_tef_Expiringin2023Member_0e3148a8-ca3a-46c4-a6e2-73e3d817bc21_terseLabel_en-US" xlink:label="lab_tef_Expiringin2023Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2023</link:label>
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    <link:label id="lab_tef_EPlusMember_d90590d2-ad2a-4476-84ad-91b6a22aba68_terseLabel_en-US" xlink:label="lab_tef_EPlusMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">E-Plus [Member]</link:label>
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    <link:label id="lab_tef_EPlusMember_documentation_en-US" xlink:label="lab_tef_EPlusMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">E-Plus [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EPlusMember" xlink:href="tef-20221231.xsd#tef_EPlusMember"/>
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    <link:label id="lab_tef_TenderOfferofEquityInstrument_e3f99962-16f8-472c-9739-a4dbece2e25e_terseLabel_en-US" xlink:label="lab_tef_TenderOfferofEquityInstrument" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tender Offer</link:label>
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    <link:label id="lab_tef_IndividualSuspensionPlanMember_2d2c5fb0-3383-47a0-a60f-691953aa146b_terseLabel_en-US" xlink:label="lab_tef_IndividualSuspensionPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Individual Suspension Plan</link:label>
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    <link:label id="lab_tef_IndividualSuspensionPlanMember_documentation_en-US" xlink:label="lab_tef_IndividualSuspensionPlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Individual Suspension Plan [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IndividualSuspensionPlanMember" xlink:href="tef-20221231.xsd#tef_IndividualSuspensionPlanMember"/>
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    <link:label id="lab_tef_RepublicOfColombiaMember_783da34d-1ed8-461f-83ff-9430e369ef64_terseLabel_en-US" xlink:label="lab_tef_RepublicOfColombiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Republic of Colombia</link:label>
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    <link:label id="lab_tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives_cc3ade7e-8a46-4422-af91-1a3137052317_terseLabel_en-US" xlink:label="lab_tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Available financing capacity related to fulfillment of sustainability objectives</link:label>
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    <link:label id="lab_tef_MasterServicesAgreementRenewalPeriodTerm_c89a72a1-2c6a-4193-8dcb-c09b56ec68d2_terseLabel_en-US" xlink:label="lab_tef_MasterServicesAgreementRenewalPeriodTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master services agreement, renewal period, term</link:label>
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    <link:label id="lab_tef_PlantandMachineryMember_3c587c80-8277-40f5-96ae-54876e182e01_terseLabel_en-US" xlink:label="lab_tef_PlantandMachineryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rights of use on plant and machinery</link:label>
    <link:label id="lab_tef_PlantandMachineryMember_label_en-US" xlink:label="lab_tef_PlantandMachineryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Plant and Machinery [Member]</link:label>
    <link:label id="lab_tef_PlantandMachineryMember_documentation_en-US" xlink:label="lab_tef_PlantandMachineryMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Plant and Machinery [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PlantandMachineryMember" xlink:href="tef-20221231.xsd#tef_PlantandMachineryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PlantandMachineryMember" xlink:to="lab_tef_PlantandMachineryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expiringin2025Option2Member_9c667d39-1942-4f84-a0a9-7ecbfb5d4c44_terseLabel_en-US" xlink:label="lab_tef_Expiringin2025Option2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 2</link:label>
    <link:label id="lab_tef_Expiringin2025Option2Member_label_en-US" xlink:label="lab_tef_Expiringin2025Option2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 2 [Member]</link:label>
    <link:label id="lab_tef_Expiringin2025Option2Member_documentation_en-US" xlink:label="lab_tef_Expiringin2025Option2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2025, Option 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expiringin2025Option2Member" xlink:href="tef-20221231.xsd#tef_Expiringin2025Option2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expiringin2025Option2Member" xlink:to="lab_tef_Expiringin2025Option2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset_480b546d-cee2-477a-be52-22b01aef9113_terseLabel_en-US" xlink:label="lab_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Company contributions</link:label>
    <link:label id="lab_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset_label_en-US" xlink:label="lab_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease (increase) in net defined benefit liability (asset) resulting from resulting from contributions to plan by employer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:to="lab_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems_77b5b610-28e4-4654-81ab-97a59303d7db_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems" xlink:to="lab_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PensionPlansMember_eaeece43-5689-4f5f-b11c-a9fcba4c5536_terseLabel_en-US" xlink:label="lab_tef_PensionPlansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pension plans</link:label>
    <link:label id="lab_tef_PensionPlansMember_label_en-US" xlink:label="lab_tef_PensionPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pension Plans [Member]</link:label>
    <link:label id="lab_tef_PensionPlansMember_documentation_en-US" xlink:label="lab_tef_PensionPlansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pension Plans [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PensionPlansMember" xlink:href="tef-20221231.xsd#tef_PensionPlansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PensionPlansMember" xlink:to="lab_tef_PensionPlansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaInfraSLMember_fcb1e19c-df57-41c2-89ad-31eb555378da_terseLabel_en-US" xlink:label="lab_tef_TelefonicaInfraSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Infra, S.L.</link:label>
    <link:label id="lab_tef_TelefonicaInfraSLMember_label_en-US" xlink:label="lab_tef_TelefonicaInfraSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Infra, S.L. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaInfraSLMember_documentation_en-US" xlink:label="lab_tef_TelefonicaInfraSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Infra, S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaInfraSLMember" xlink:href="tef-20221231.xsd#tef_TelefonicaInfraSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaInfraSLMember" xlink:to="lab_tef_TelefonicaInfraSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulatoryOperationsConcessionsandLicenseBandwidth_a321e82c-dedd-42f4-90fe-60f1ba797f63_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsConcessionsandLicenseBandwidth" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bandwidth (MHz)</link:label>
    <link:label id="lab_tef_RegulatoryOperationsConcessionsandLicenseBandwidth_label_en-US" xlink:label="lab_tef_RegulatoryOperationsConcessionsandLicenseBandwidth" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Concessions and License Bandwidth</link:label>
    <link:label id="lab_tef_RegulatoryOperationsConcessionsandLicenseBandwidth_documentation_en-US" xlink:label="lab_tef_RegulatoryOperationsConcessionsandLicenseBandwidth" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulatory Operations, Concessions and License Bandwidth</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulatoryOperationsConcessionsandLicenseBandwidth" xlink:href="tef-20221231.xsd#tef_RegulatoryOperationsConcessionsandLicenseBandwidth"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulatoryOperationsConcessionsandLicenseBandwidth" xlink:to="lab_tef_RegulatoryOperationsConcessionsandLicenseBandwidth" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MiscellaneousOtherOperatingExpense_349a3ea3-eeb4-4d64-8e7c-9f25ce4ae127_terseLabel_en-US" xlink:label="lab_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other operating expenses</link:label>
    <link:label id="lab_ifrs-full_MiscellaneousOtherOperatingExpense_label_en-US" xlink:label="lab_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Miscellaneous other operating expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_MiscellaneousOtherOperatingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:to="lab_ifrs-full_MiscellaneousOtherOperatingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaTechUKHoldingsLimitedMember_286f9c3c-250b-481f-a706-731450ff4607_terseLabel_en-US" xlink:label="lab_tef_TelefonicaTechUKHoldingsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech UK Holdings Limited</link:label>
    <link:label id="lab_tef_TelefonicaTechUKHoldingsLimitedMember_label_en-US" xlink:label="lab_tef_TelefonicaTechUKHoldingsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech UK Holdings Limited [Member]</link:label>
    <link:label id="lab_tef_TelefonicaTechUKHoldingsLimitedMember_documentation_en-US" xlink:label="lab_tef_TelefonicaTechUKHoldingsLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech UK Holdings Limited</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaTechUKHoldingsLimitedMember" xlink:href="tef-20221231.xsd#tef_TelefonicaTechUKHoldingsLimitedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaTechUKHoldingsLimitedMember" xlink:to="lab_tef_TelefonicaTechUKHoldingsLimitedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember_ea68335b-3b44-4d7a-ac23-86df825fb85b_terseLabel_en-US" xlink:label="lab_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Perpetuity growth rates</link:label>
    <link:label id="lab_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember_label_en-US" xlink:label="lab_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Growth Rate Used To Extrapolate Cash Flow Projections [Member]</link:label>
    <link:label id="lab_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember_documentation_en-US" xlink:label="lab_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Growth Rate Used To Extrapolate Cash Flow Projections [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember" xlink:href="tef-20221231.xsd#tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember" xlink:to="lab_tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DividendsLineItems_89a7bb9d-e4c4-4b60-aef6-3037d184f02e_terseLabel_en-US" xlink:label="lab_tef_DividendsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends [Line Items]</link:label>
    <link:label id="lab_tef_DividendsLineItems_label_en-US" xlink:label="lab_tef_DividendsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends [Line Items]</link:label>
    <link:label id="lab_tef_DividendsLineItems_documentation_en-US" xlink:label="lab_tef_DividendsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Line Items] for Dividends [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DividendsLineItems" xlink:href="tef-20221231.xsd#tef_DividendsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DividendsLineItems" xlink:to="lab_tef_DividendsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReservesWithinEquityTable_164773f3-56b7-4548-8425-e3b6d219267a_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of reserves within equity [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReservesWithinEquityTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of reserves within equity [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfReservesWithinEquityTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:to="lab_ifrs-full_DisclosureOfReservesWithinEquityTable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondTMember_efabd433-de92-4b4a-92fb-d035b85db478_terseLabel_en-US" xlink:label="lab_tef_BondTMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T</link:label>
    <link:label id="lab_tef_BondTMember_label_en-US" xlink:label="lab_tef_BondTMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T [Member]</link:label>
    <link:label id="lab_tef_BondTMember_documentation_en-US" xlink:label="lab_tef_BondTMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondTMember" xlink:href="tef-20221231.xsd#tef_BondTMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondTMember" xlink:to="lab_tef_BondTMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentContractAssets_17dcce4a-f201-4761-a208-60537fb1e576_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentContractAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contractual assets (Note 23)</link:label>
    <link:label id="lab_ifrs-full_CurrentContractAssets_label_en-US" xlink:label="lab_ifrs-full_CurrentContractAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current contract assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentContractAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentContractAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentContractAssets" xlink:to="lab_ifrs-full_CurrentContractAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember_5a6b6fee-959a-4594-ad6e-08907f530aec_terseLabel_en-US" xlink:label="lab_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Global Solutions, S.L.U. International service provider</link:label>
    <link:label id="lab_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember_label_en-US" xlink:label="lab_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sao Paulo Telecomunicacoes Participacoes Ltda [Member]</link:label>
    <link:label id="lab_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember_documentation_en-US" xlink:label="lab_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sao Paulo Telecomunicacoes Participacoes Ltda [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember" xlink:href="tef-20221231.xsd#tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember" xlink:to="lab_tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_IncreaseDecreaseInFinanceIncomeDueToDecisionsWithTaxAuthorities_b03d4916-cbf0-4b99-abd9-b43c96856c31_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInFinanceIncomeDueToDecisionsWithTaxAuthorities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (reduction) to finance income due to decisions with tax authorities</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_currency_CZK" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_CZK"/>
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    <link:label id="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_1d1b1096-63db-4d67-8a53-4524d1022e5d_terseLabel_en-US" xlink:label="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase of interests in investments accounted for using equity method</link:label>
    <link:label id="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_label_en-US" xlink:label="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase of interests in investments accounted for using equity method</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation_13f35818-f065-4072-9678-d68bba744a66_terseLabel_en-US" xlink:label="lab_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Relevant Market Recommendation, markets susceptible to ex ante regulation</link:label>
    <link:label id="lab_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation_label_en-US" xlink:label="lab_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Relevant Market Recommendation, Markets Susceptible To Ex Ante Regulation</link:label>
    <link:label id="lab_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation_documentation_en-US" xlink:label="lab_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Relevant Market Recommendation, Markets Susceptible To Ex Ante Regulation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" xlink:href="tef-20221231.xsd#tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" xlink:to="lab_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EACEMember_17b3a9d0-d2d9-4765-8fe9-daef75e954dd_terseLabel_en-US" xlink:label="lab_tef_EACEMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EACE</link:label>
    <link:label id="lab_tef_EACEMember_label_en-US" xlink:label="lab_tef_EACEMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EACE [Member]</link:label>
    <link:label id="lab_tef_EACEMember_documentation_en-US" xlink:label="lab_tef_EACEMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EACE</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EACEMember" xlink:href="tef-20221231.xsd#tef_EACEMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EACEMember" xlink:to="lab_tef_EACEMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FiBrasilInfraestructuraEFibraOticaSAMember_8abdd032-9962-4898-9c5b-5e3e61b14745_terseLabel_en-US" xlink:label="lab_tef_FiBrasilInfraestructuraEFibraOticaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FiBrasil Infraestructura e Fibra &#211;tica, S.A.</link:label>
    <link:label id="lab_tef_FiBrasilInfraestructuraEFibraOticaSAMember_label_en-US" xlink:label="lab_tef_FiBrasilInfraestructuraEFibraOticaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FiBrasil Infraestructura E Fibra Otica S.A. [Member]</link:label>
    <link:label id="lab_tef_FiBrasilInfraestructuraEFibraOticaSAMember_documentation_en-US" xlink:label="lab_tef_FiBrasilInfraestructuraEFibraOticaSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FiBrasil Infraestructura E Fibra Otica S.A.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FiBrasilInfraestructuraEFibraOticaSAMember" xlink:href="tef-20221231.xsd#tef_FiBrasilInfraestructuraEFibraOticaSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FiBrasilInfraestructuraEFibraOticaSAMember" xlink:to="lab_tef_FiBrasilInfraestructuraEFibraOticaSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable_db998b4a-ca5d-4b70-864a-3f9f0b59ef36_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [table]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of reconciliation of changes in intangible assets and goodwill [table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:to="lab_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TreasurySharesMember_a33b486b-bb45-44cb-b501-a28fa240c2be_terseLabel_en-US" xlink:label="lab_ifrs-full_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares</link:label>
    <link:label id="lab_ifrs-full_TreasurySharesMember_c827c960-679b-48a2-929d-24a92b1c057b_verboseLabel_en-US" xlink:label="lab_ifrs-full_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury shares</link:label>
    <link:label id="lab_ifrs-full_TreasurySharesMember_label_en-US" xlink:label="lab_ifrs-full_TreasurySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury shares [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TreasurySharesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TreasurySharesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TreasurySharesMember" xlink:to="lab_ifrs-full_TreasurySharesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_StructuredFinancingDueMarch1120262Member_73aa6d49-3c13-4573-abbb-9fb0ed4157b5_terseLabel_en-US" xlink:label="lab_tef_StructuredFinancingDueMarch1120262Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Structured financing due March 11, 2026</link:label>
    <link:label id="lab_tef_StructuredFinancingDueMarch1120262Member_label_en-US" xlink:label="lab_tef_StructuredFinancingDueMarch1120262Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Structured Financing Due March 11, 2026,2 [Member]</link:label>
    <link:label id="lab_tef_StructuredFinancingDueMarch1120262Member_documentation_en-US" xlink:label="lab_tef_StructuredFinancingDueMarch1120262Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Structured Financing Due March 11, 2026,2</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_StructuredFinancingDueMarch1120262Member" xlink:href="tef-20221231.xsd#tef_StructuredFinancingDueMarch1120262Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_StructuredFinancingDueMarch1120262Member" xlink:to="lab_tef_StructuredFinancingDueMarch1120262Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesMember_778c7ea4-c894-4f8c-8dc6-094687ec32d6_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, class [member]</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesMember_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, class [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesMember" xlink:to="lab_ifrs-full_FinancialLiabilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherEquitySecuritiesMember_84a698fb-1203-4b9a-8cfe-d2fe3aeab704_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherEquitySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
    <link:label id="lab_ifrs-full_OtherEquitySecuritiesMember_label_en-US" xlink:label="lab_ifrs-full_OtherEquitySecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other equity securities [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherEquitySecuritiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherEquitySecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherEquitySecuritiesMember" xlink:to="lab_ifrs-full_OtherEquitySecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AllOtherSegmentsMember_4e003ef2-c8c6-44be-b648-4bca23ccfc5e_terseLabel_en-US" xlink:label="lab_ifrs-full_AllOtherSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other companies</link:label>
    <link:label id="lab_ifrs-full_AllOtherSegmentsMember_45ece186-89e7-464c-a28d-7da83be3ee6d_verboseLabel_en-US" xlink:label="lab_ifrs-full_AllOtherSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
    <link:label id="lab_ifrs-full_AllOtherSegmentsMember_label_en-US" xlink:label="lab_ifrs-full_AllOtherSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">All other segments [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AllOtherSegmentsMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AllOtherSegmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AllOtherSegmentsMember" xlink:to="lab_ifrs-full_AllOtherSegmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondFMember_c90a1a0d-3f63-4a21-94ca-8fccf8846453_terseLabel_en-US" xlink:label="lab_tef_BondFMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond F</link:label>
    <link:label id="lab_tef_BondFMember_label_en-US" xlink:label="lab_tef_BondFMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond F [Member]</link:label>
    <link:label id="lab_tef_BondFMember_documentation_en-US" xlink:label="lab_tef_BondFMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond F [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondFMember" xlink:href="tef-20221231.xsd#tef_BondFMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondFMember" xlink:to="lab_tef_BondFMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfTelecommunicationTowerSitesSold_b0c3cf3c-99f0-488b-861e-d4f03ca0eab2_terseLabel_en-US" xlink:label="lab_tef_NumberOfTelecommunicationTowerSitesSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of telecommunication tower sites sold</link:label>
    <link:label id="lab_tef_NumberOfTelecommunicationTowerSitesSold_label_en-US" xlink:label="lab_tef_NumberOfTelecommunicationTowerSitesSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Telecommunication Tower Sites Sold</link:label>
    <link:label id="lab_tef_NumberOfTelecommunicationTowerSitesSold_documentation_en-US" xlink:label="lab_tef_NumberOfTelecommunicationTowerSitesSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Telecommunication Tower Sites Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfTelecommunicationTowerSitesSold" xlink:href="tef-20221231.xsd#tef_NumberOfTelecommunicationTowerSitesSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfTelecommunicationTowerSitesSold" xlink:to="lab_tef_NumberOfTelecommunicationTowerSitesSold" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAttributableToOwnersOfParentMember_bd3a31f6-fe6f-4967-b4e1-11668d33757d_terseLabel_en-US" xlink:label="lab_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ifrs-full_EquityAttributableToOwnersOfParentMember_label_en-US" xlink:label="lab_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity attributable to owners of parent [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:to="lab_ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate_475cb875-d626-440e-b194-24446ff74122_negatedTerseLabel_en-US" xlink:label="lab_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non-current liabilities</link:label>
    <link:label id="lab_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate_label_en-US" xlink:label="lab_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Non-Current Liabilities As Of Acquisition Date</link:label>
    <link:label id="lab_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate_documentation_en-US" xlink:label="lab_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Non-Current Liabilities As Of Acquisition Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate" xlink:href="tef-20221231.xsd#tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate" xlink:to="lab_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_283bf105-5511-4e24-ad1c-4015a9b0a4e9_totalLabel_en-US" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net cash used in financing activities</link:label>
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    <link:label id="lab_tef_AllianzMember_documentation_en-US" xlink:label="lab_tef_AllianzMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Allianz</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AllianzMember" xlink:href="tef-20221231.xsd#tef_AllianzMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AllianzMember" xlink:to="lab_tef_AllianzMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ChangesinHedgesinEquityRollForward_f14ee084-7ada-430b-9dca-e9f590fb4c6f_terseLabel_en-US" xlink:label="lab_tef_ChangesinHedgesinEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Changes in Hedges in Equity [Roll Forward]</link:label>
    <link:label id="lab_tef_ChangesinHedgesinEquityRollForward_label_en-US" xlink:label="lab_tef_ChangesinHedgesinEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Changes in Hedges in Equity [Roll Forward]</link:label>
    <link:label id="lab_tef_ChangesinHedgesinEquityRollForward_documentation_en-US" xlink:label="lab_tef_ChangesinHedgesinEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Changes in Hedges in Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ChangesinHedgesinEquityRollForward" xlink:href="tef-20221231.xsd#tef_ChangesinHedgesinEquityRollForward"/>
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    <link:label id="lab_tef_ReceivingLegMember_b2c70480-fa3f-4c0a-b052-59ef379ea798_terseLabel_en-US" xlink:label="lab_tef_ReceivingLegMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receiving leg</link:label>
    <link:label id="lab_tef_ReceivingLegMember_label_en-US" xlink:label="lab_tef_ReceivingLegMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receiving Leg [Member]</link:label>
    <link:label id="lab_tef_ReceivingLegMember_documentation_en-US" xlink:label="lab_tef_ReceivingLegMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receiving Leg [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReceivingLegMember" xlink:href="tef-20221231.xsd#tef_ReceivingLegMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ReceivingLegMember" xlink:to="lab_tef_ReceivingLegMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelxiusCableAmericaS.A.Member_d7f201b2-11c7-4fed-9468-b7431d56fd59_terseLabel_en-US" xlink:label="lab_tef_TelxiusCableAmericaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable Am&#233;rica, S.A.</link:label>
    <link:label id="lab_tef_TelxiusCableAmericaS.A.Member_label_en-US" xlink:label="lab_tef_TelxiusCableAmericaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable America S.A. [Member]</link:label>
    <link:label id="lab_tef_TelxiusCableAmericaS.A.Member_documentation_en-US" xlink:label="lab_tef_TelxiusCableAmericaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable America S.A. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusCableAmericaS.A.Member" xlink:href="tef-20221231.xsd#tef_TelxiusCableAmericaS.A.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusCableAmericaS.A.Member" xlink:to="lab_tef_TelxiusCableAmericaS.A.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage_1b42b7f0-c1f0-459a-a385-e15d8bfa4af9_terseLabel_en-US" xlink:label="lab_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum recognised as of acquisition date, percentage of radiofrequency (in percentage)</link:label>
    <link:label id="lab_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage_label_en-US" xlink:label="lab_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum recognised as of acquisition date, percentage</link:label>
    <link:label id="lab_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage_documentation_en-US" xlink:label="lab_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Spectrum recognised as of acquisition date, percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage" xlink:href="tef-20221231.xsd#tef_SpectrumRecognisedAsOfAcquisitionDatePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage" xlink:to="lab_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock_8c770639-d14a-48b8-8b39-59b117962cf8_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Other Current Financial Assets</link:label>
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    <link:label id="lab_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock_documentation_en-US" xlink:label="lab_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of other current financial assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock" xlink:href="tef-20221231.xsd#tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock" xlink:to="lab_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BuendiaProduccionSLMember_4820248e-954c-4e34-9504-5cb5233e04a8_terseLabel_en-US" xlink:label="lab_tef_BuendiaProduccionSLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buend&#237;a Producci&#243;n, S.L.</link:label>
    <link:label id="lab_tef_BuendiaProduccionSLMember_label_en-US" xlink:label="lab_tef_BuendiaProduccionSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buendia Produccion, S.L. [Member]</link:label>
    <link:label id="lab_tef_BuendiaProduccionSLMember_documentation_en-US" xlink:label="lab_tef_BuendiaProduccionSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Buendia Produccion, S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BuendiaProduccionSLMember" xlink:href="tef-20221231.xsd#tef_BuendiaProduccionSLMember"/>
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    <link:label id="lab_tef_TelefonicaDigitalLtd.Member_7feb58f6-3b47-4209-94c5-6ca6669cafc1_terseLabel_en-US" xlink:label="lab_tef_TelefonicaDigitalLtd.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Open Innovation S.L. Talent identification and development in ICT.</link:label>
    <link:label id="lab_tef_TelefonicaDigitalLtd.Member_label_en-US" xlink:label="lab_tef_TelefonicaDigitalLtd.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Digital Ltd. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaDigitalLtd.Member_documentation_en-US" xlink:label="lab_tef_TelefonicaDigitalLtd.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Digital Ltd. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaDigitalLtd.Member" xlink:href="tef-20221231.xsd#tef_TelefonicaDigitalLtd.Member"/>
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    <link:label id="lab_ifrs-full_DebtSecuritiesMember_04795065-014e-4ffb-ae8c-dc818675ee9c_verboseLabel_en-US" xlink:label="lab_ifrs-full_DebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt instruments</link:label>
    <link:label id="lab_ifrs-full_DebtSecuritiesMember_464ae5b5-af57-4990-87a4-903d550a83cb_terseLabel_en-US" xlink:label="lab_ifrs-full_DebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Underlying debt (*)</link:label>
    <link:label id="lab_ifrs-full_DebtSecuritiesMember_label_en-US" xlink:label="lab_ifrs-full_DebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt securities [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DebtSecuritiesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DebtSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DebtSecuritiesMember" xlink:to="lab_ifrs-full_DebtSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProvisionForDismantlingOfAssets_0ebd5454-7139-4a5a-9bb2-ae9e582bfe72_totalLabel_en-US" xlink:label="lab_tef_ProvisionForDismantlingOfAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dismantling of assets</link:label>
    <link:label id="lab_tef_ProvisionForDismantlingOfAssets_label_en-US" xlink:label="lab_tef_ProvisionForDismantlingOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provision For Dismantling Of Assets</link:label>
    <link:label id="lab_tef_ProvisionForDismantlingOfAssets_documentation_en-US" xlink:label="lab_tef_ProvisionForDismantlingOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Provision For Dismantling Of Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProvisionForDismantlingOfAssets" xlink:href="tef-20221231.xsd#tef_ProvisionForDismantlingOfAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProvisionForDismantlingOfAssets" xlink:to="lab_tef_ProvisionForDismantlingOfAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashTransferred_70d43367-f7fc-4f5e-94da-e5eee47db58b_terseLabel_en-US" xlink:label="lab_ifrs-full_CashTransferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration (share purchase price)</link:label>
    <link:label id="lab_ifrs-full_CashTransferred_label_en-US" xlink:label="lab_ifrs-full_CashTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash transferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashTransferred" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashTransferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashTransferred" xlink:to="lab_ifrs-full_CashTransferred" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaUnitedKingdomLimitedMember_afbc08d7-5875-4257-a6d3-1cd876ed895e_terseLabel_en-US" xlink:label="lab_tef_TelefonicaUnitedKingdomLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica UK Limited</link:label>
    <link:label id="lab_tef_TelefonicaUnitedKingdomLimitedMember_label_en-US" xlink:label="lab_tef_TelefonicaUnitedKingdomLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica United Kingdom Limited [Member]</link:label>
    <link:label id="lab_tef_TelefonicaUnitedKingdomLimitedMember_documentation_en-US" xlink:label="lab_tef_TelefonicaUnitedKingdomLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica United Kingdom Limited [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaUnitedKingdomLimitedMember" xlink:href="tef-20221231.xsd#tef_TelefonicaUnitedKingdomLimitedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaUnitedKingdomLimitedMember" xlink:to="lab_tef_TelefonicaUnitedKingdomLimitedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions_661e6162-eeb3-4122-a4de-427496ae80be_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of goods</link:label>
    <link:label id="lab_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions_label_en-US" xlink:label="lab_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue from sale of goods, related party transactions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions"/>
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    <link:label id="lab_tef_TelxiusTowersTaxMember_2c0c68ed-36b1-45dc-84d4-46b268359080_terseLabel_en-US" xlink:label="lab_tef_TelxiusTowersTaxMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Towers - Tax</link:label>
    <link:label id="lab_tef_TelxiusTowersTaxMember_label_en-US" xlink:label="lab_tef_TelxiusTowersTaxMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Towers - Tax [Member]</link:label>
    <link:label id="lab_tef_TelxiusTowersTaxMember_documentation_en-US" xlink:label="lab_tef_TelxiusTowersTaxMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Towers - Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusTowersTaxMember" xlink:href="tef-20221231.xsd#tef_TelxiusTowersTaxMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusTowersTaxMember" xlink:to="lab_tef_TelxiusTowersTaxMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PowerPurchaseAgreementDuration_5f56c22d-bcdc-46dd-8374-f26f467604c3_terseLabel_en-US" xlink:label="lab_tef_PowerPurchaseAgreementDuration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power purchase agreement, duration</link:label>
    <link:label id="lab_tef_PowerPurchaseAgreementDuration_label_en-US" xlink:label="lab_tef_PowerPurchaseAgreementDuration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power Purchase Agreement, Duration</link:label>
    <link:label id="lab_tef_PowerPurchaseAgreementDuration_documentation_en-US" xlink:label="lab_tef_PowerPurchaseAgreementDuration" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power Purchase Agreement, Duration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PowerPurchaseAgreementDuration" xlink:href="tef-20221231.xsd#tef_PowerPurchaseAgreementDuration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PowerPurchaseAgreementDuration" xlink:to="lab_tef_PowerPurchaseAgreementDuration" xlink:type="arc" order="1"/>
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    <link:label id="lab_tef_SalesofOtherEquipmentsMember_documentation_en-US" xlink:label="lab_tef_SalesofOtherEquipmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sales of Other Equipments [Member]</link:label>
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    <link:label id="lab_ifrs-full_JointVenturesAxis_eb187090-b218-4220-b7d5-b5a21467fbdd_terseLabel_en-US" xlink:label="lab_ifrs-full_JointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Joint ventures [axis]</link:label>
    <link:label id="lab_ifrs-full_JointVenturesAxis_label_en-US" xlink:label="lab_ifrs-full_JointVenturesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Joint ventures [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_JointVenturesAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_JointVenturesAxis"/>
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    <link:label id="lab_ifrs-full_ClassesOfFinancialInstrumentsMember_43172bb9-3564-45ed-a372-291d24591b82_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial instruments, class [member]</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESFEBRUARY2020Member_dceb95d1-8030-49df-a339-a42053a005a3_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESFEBRUARY2020Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF EMISIONES FEBRUARY 2020</link:label>
    <link:label id="lab_tef_TELEFEMISIONESFEBRUARY2020Member_label_en-US" xlink:label="lab_tef_TELEFEMISIONESFEBRUARY2020Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF EMISIONES FEBRUARY 2020 [Member]</link:label>
    <link:label id="lab_tef_TELEFEMISIONESFEBRUARY2020Member_documentation_en-US" xlink:label="lab_tef_TELEFEMISIONESFEBRUARY2020Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF EMISIONES FEBRUARY 2020</link:label>
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    <link:label id="lab_ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties_1174c7ec-90b9-4494-8930-3d1a1c318faa_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables from associates and joint ventures for current operations</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables due from related parties</link:label>
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    <link:label id="lab_tef_TaxPeriodAxis_517231ad-338a-4231-a95f-ad5ed7dda870_terseLabel_en-US" xlink:label="lab_tef_TaxPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Period [Axis]</link:label>
    <link:label id="lab_tef_TaxPeriodAxis_label_en-US" xlink:label="lab_tef_TaxPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Period [Axis]</link:label>
    <link:label id="lab_tef_TaxPeriodAxis_documentation_en-US" xlink:label="lab_tef_TaxPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TaxPeriodAxis" xlink:href="tef-20221231.xsd#tef_TaxPeriodAxis"/>
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    <link:label id="lab_tef_NetRepatriationOfFundsDividends_6ee7817e-debc-4345-a8cc-5f28513e8775_terseLabel_en-US" xlink:label="lab_tef_NetRepatriationOfFundsDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net repatriation of funds from dividends received</link:label>
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    <link:label id="lab_tef_NetRepatriationOfFundsDividends_documentation_en-US" xlink:label="lab_tef_NetRepatriationOfFundsDividends" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Repatriation Of Funds, Dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NetRepatriationOfFundsDividends" xlink:href="tef-20221231.xsd#tef_NetRepatriationOfFundsDividends"/>
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    <link:label id="lab_tef_LotcaServiciosIntegralesMember_1bdffa31-7d9a-4f0a-a8d1-07394dd3c40a_terseLabel_en-US" xlink:label="lab_tef_LotcaServiciosIntegralesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TIS Hispanoam&#233;rica, S.L. Security services and systems</link:label>
    <link:label id="lab_tef_LotcaServiciosIntegralesMember_label_en-US" xlink:label="lab_tef_LotcaServiciosIntegralesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lotca Servicios Integrales [Member]</link:label>
    <link:label id="lab_tef_LotcaServiciosIntegralesMember_documentation_en-US" xlink:label="lab_tef_LotcaServiciosIntegralesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lotca Servicios Integrales [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_LotcaServiciosIntegralesMember" xlink:href="tef-20221231.xsd#tef_LotcaServiciosIntegralesMember"/>
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    <link:label id="lab_ifrs-full_NoncurrentPrepayments_ce0e51d9-120d-4a53-9f3d-b7a9b1bd6f23_terseLabel_en-US" xlink:label="lab_ifrs-full_NoncurrentPrepayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Prepayments</link:label>
    <link:label id="lab_ifrs-full_NoncurrentPrepayments_label_en-US" xlink:label="lab_ifrs-full_NoncurrentPrepayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-current prepayments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentPrepayments" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentPrepayments"/>
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    <link:label id="lab_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage_8bed993c-f460-4af8-9a65-dc9d9947a4ba_terseLabel_en-US" xlink:label="lab_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of Invoices, Payments To Suppliers For Goods And Services, To Total, Percentage</link:label>
    <link:label id="lab_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage_label_en-US" xlink:label="lab_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of Invoices, Payments To Suppliers For Goods And Services, To Total, Percentage</link:label>
    <link:label id="lab_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage_documentation_en-US" xlink:label="lab_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of Invoices, Payments To Suppliers For Goods And Services, To Total, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage" xlink:href="tef-20221231.xsd#tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage" xlink:to="lab_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AverageMaturityOfNetFinancialDebt_450d275d-18e6-42cd-a2f1-6134274026d9_terseLabel_en-US" xlink:label="lab_tef_AverageMaturityOfNetFinancialDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Average maturity of net financial debt</link:label>
    <link:label id="lab_tef_AverageMaturityOfNetFinancialDebt_label_en-US" xlink:label="lab_tef_AverageMaturityOfNetFinancialDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Average Maturity Of Net Financial Debt</link:label>
    <link:label id="lab_tef_AverageMaturityOfNetFinancialDebt_documentation_en-US" xlink:label="lab_tef_AverageMaturityOfNetFinancialDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Average Maturity Of Net Financial Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AverageMaturityOfNetFinancialDebt" xlink:href="tef-20221231.xsd#tef_AverageMaturityOfNetFinancialDebt"/>
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    <link:label id="lab_tef_RelatedPartyAbstract_dee5072f-e6bd-4a66-83a0-112b36df935b_terseLabel_en-US" xlink:label="lab_tef_RelatedPartyAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party [Abstract]</link:label>
    <link:label id="lab_tef_RelatedPartyAbstract_label_en-US" xlink:label="lab_tef_RelatedPartyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party [Abstract]</link:label>
    <link:label id="lab_tef_RelatedPartyAbstract_documentation_en-US" xlink:label="lab_tef_RelatedPartyAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RelatedPartyAbstract" xlink:href="tef-20221231.xsd#tef_RelatedPartyAbstract"/>
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    <link:label id="lab_tef_PSPFirstCycle20212024Member_8e6dab14-5c01-47b6-9ecb-2ee0fc80573c_terseLabel_en-US" xlink:label="lab_tef_PSPFirstCycle20212024Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PSP - First Cycle / 2021-2024</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems_f9fdce75-5bde-45d1-af1e-857a404687cc_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of quantitative information about right-of-use assets [line items]</link:label>
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    <link:label id="lab_tef_BETernaASNorwayMember_5b7ad32c-d18d-4c6c-b566-773ff8645773_terseLabel_en-US" xlink:label="lab_tef_BETernaASNorwayMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna A/S (Norway)</link:label>
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    <link:label id="lab_tef_BETernaASNorwayMember_documentation_en-US" xlink:label="lab_tef_BETernaASNorwayMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna A/S (Norway)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaASNorwayMember" xlink:href="tef-20221231.xsd#tef_BETernaASNorwayMember"/>
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    <link:label id="lab_tef_NumberOfPremisesCoveredByFiberOptic_e6e3dbd3-cff3-4f54-9f74-87467b3984ac_terseLabel_en-US" xlink:label="lab_tef_NumberOfPremisesCoveredByFiberOptic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of premises covered by fiber optic roll out</link:label>
    <link:label id="lab_tef_NumberOfPremisesCoveredByFiberOptic_label_en-US" xlink:label="lab_tef_NumberOfPremisesCoveredByFiberOptic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Premises Covered By Fiber Optic</link:label>
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    <link:label id="lab_ifrs-full_OtherPropertyPlantAndEquipmentMember_cabe82fe-2152-4461-94e2-710ec671c1b4_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Furniture, tools and other items</link:label>
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    <link:label id="lab_ifrs-full_CurrentFinancialLiabilities_8f1bcaf9-6da6-4c56-a6fe-7061cd0f2ecd_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentFinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current financial liabilities</link:label>
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    <link:label id="lab_tef_WholesaleAccessServicesAgreementTerm_885b9e27-1798-4fe2-aae1-25598928d312_terseLabel_en-US" xlink:label="lab_tef_WholesaleAccessServicesAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wholesale access services agreement, term</link:label>
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    <link:label id="lab_ifrs-full_ContractDurationAxis_aeadf9b0-2449-4efd-8e58-e26b7af4fc36_terseLabel_en-US" xlink:label="lab_ifrs-full_ContractDurationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contract duration [axis]</link:label>
    <link:label id="lab_ifrs-full_ContractDurationAxis_label_en-US" xlink:label="lab_ifrs-full_ContractDurationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contract duration [axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContractDurationAxis" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContractDurationAxis"/>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent_1094dc9c-946a-4d90-819a-ab539c218bf1_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of shares delivered under the plan to the Executive Directors and other Participants (in shares)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent" xlink:href="tef-20221231.xsd#tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent"/>
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    <link:label id="lab_tef_EquityAttributabletoNonControllingInterestsRollForward_fc0a5a40-debb-4ba6-9041-5370ab1cd8e4_terseLabel_en-US" xlink:label="lab_tef_EquityAttributabletoNonControllingInterestsRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity Attributable to Non-Controlling Interests [Roll Forward]</link:label>
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    <link:label id="lab_ifrs-full_CurrentDeferredIncomeOtherThanCurrentContractLiabilities_67558702-4d9e-454d-8316-5ff3ff161ea4_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentDeferredIncomeOtherThanCurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred revenue</link:label>
    <link:label id="lab_ifrs-full_CurrentDeferredIncomeOtherThanCurrentContractLiabilities_label_en-US" xlink:label="lab_ifrs-full_CurrentDeferredIncomeOtherThanCurrentContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current deferred income other than current contract liabilities</link:label>
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    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_4c3546d5-d322-49c4-9f6c-3cbef5353814_terseLabel_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_label_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparty Name [Domain]</link:label>
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    <link:label id="lab_tef_GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges_f6eff2c5-bd9f-434b-8f95-2fe0f4af9261_terseLabel_en-US" xlink:label="lab_tef_GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gain/(loss) on adjustment to items hedged by fair value hedges</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory_f1489553-fabb-4efd-9566-b9d7b2ce9270_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables and Other Current Assets</link:label>
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    <link:label id="lab_ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts_7903ae1c-8c94-4b6a-b3da-d1f6773ff449_terseLabel_en-US" xlink:label="lab_ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Exposure to credit risk on guarantees</link:label>
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    <link:label id="lab_tef_TelefonicaHoldingAtticusBVMember_c0faae5c-2d61-4c37-ae9d-94bf5cc78023_terseLabel_en-US" xlink:label="lab_tef_TelefonicaHoldingAtticusBVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Holding Atticus, B.V</link:label>
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    <link:label id="lab_tef_PowerPurchaseAgreementTotalConsumptionForOperationsInCountryPercentage_102a3b32-353c-4c92-8909-00d27f8993eb_terseLabel_en-US" xlink:label="lab_tef_PowerPurchaseAgreementTotalConsumptionForOperationsInCountryPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power purchase agreement, total consumption for operations in country (in percentage)</link:label>
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    <link:label id="lab_tef_NumberOfMatchWeekendsPerSeasonTotal_7781a68b-861b-4cd2-b494-ed8032b92985_terseLabel_en-US" xlink:label="lab_tef_NumberOfMatchWeekendsPerSeasonTotal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of match-weekends per season, total</link:label>
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    <link:label id="lab_tef_NumberOfMatchWeekendsPerSeasonTotal_documentation_en-US" xlink:label="lab_tef_NumberOfMatchWeekendsPerSeasonTotal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Match-Weekends Per Season, Total</link:label>
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    <link:label id="lab_tef_RightsofUseAbstract_5d366c4e-c287-4082-8b12-12d8547a3d88_terseLabel_en-US" xlink:label="lab_tef_RightsofUseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rights of Use [Abstract]</link:label>
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    <link:label id="lab_tef_LongTermFinancialInstrumentMember_b7c66e87-9cec-4708-a0f9-bc71ec25a3ba_terseLabel_en-US" xlink:label="lab_tef_LongTermFinancialInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long Term Financial Instrument</link:label>
    <link:label id="lab_tef_LongTermFinancialInstrumentMember_label_en-US" xlink:label="lab_tef_LongTermFinancialInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long Term Financial Instrument [Member]</link:label>
    <link:label id="lab_tef_LongTermFinancialInstrumentMember_documentation_en-US" xlink:label="lab_tef_LongTermFinancialInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long Term Financial Instrument</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_LongTermFinancialInstrumentMember" xlink:href="tef-20221231.xsd#tef_LongTermFinancialInstrumentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_LongTermFinancialInstrumentMember" xlink:to="lab_tef_LongTermFinancialInstrumentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_A13July2040Member_d2f7f16a-7695-4357-900c-d1046ac5f608_terseLabel_en-US" xlink:label="lab_tef_A13July2040Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">13 July 2040</link:label>
    <link:label id="lab_tef_A13July2040Member_label_en-US" xlink:label="lab_tef_A13July2040Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">13 July 2040 [Member]</link:label>
    <link:label id="lab_tef_A13July2040Member_documentation_en-US" xlink:label="lab_tef_A13July2040Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">13 July 2040</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_A13July2040Member" xlink:href="tef-20221231.xsd#tef_A13July2040Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_A13July2040Member" xlink:to="lab_tef_A13July2040Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AuditorNameAxis_44515633-3b40-46a2-870f-108ac53a54e0_terseLabel_en-US" xlink:label="lab_tef_AuditorNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Name [Axis]</link:label>
    <link:label id="lab_tef_AuditorNameAxis_label_en-US" xlink:label="lab_tef_AuditorNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Name [Axis]</link:label>
    <link:label id="lab_tef_AuditorNameAxis_documentation_en-US" xlink:label="lab_tef_AuditorNameAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AuditorNameAxis" xlink:href="tef-20221231.xsd#tef_AuditorNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AuditorNameAxis" xlink:to="lab_tef_AuditorNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CurrentCreditsMember_479b3468-7ce4-463e-a892-6d2a7684e84e_terseLabel_en-US" xlink:label="lab_tef_CurrentCreditsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Short-term credits</link:label>
    <link:label id="lab_tef_CurrentCreditsMember_label_en-US" xlink:label="lab_tef_CurrentCreditsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Credits [Member]</link:label>
    <link:label id="lab_tef_CurrentCreditsMember_documentation_en-US" xlink:label="lab_tef_CurrentCreditsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Credits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentCreditsMember" xlink:href="tef-20221231.xsd#tef_CurrentCreditsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CurrentCreditsMember" xlink:to="lab_tef_CurrentCreditsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Group3GUMTSHoldingMember_ff6d8c49-3d67-4561-a88c-46fc9aadbaa6_terseLabel_en-US" xlink:label="lab_tef_Group3GUMTSHoldingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Compras Electr&#243;nicas, S.L. Development and provision of information Society services</link:label>
    <link:label id="lab_tef_Group3GUMTSHoldingMember_label_en-US" xlink:label="lab_tef_Group3GUMTSHoldingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Group 3G UMTS Holding [Member]</link:label>
    <link:label id="lab_tef_Group3GUMTSHoldingMember_documentation_en-US" xlink:label="lab_tef_Group3GUMTSHoldingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Group 3G UMTS Holding [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Group3GUMTSHoldingMember" xlink:href="tef-20221231.xsd#tef_Group3GUMTSHoldingMember"/>
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    <link:label id="lab_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_fe902c7d-517f-454a-a0c1-800ec09c076b_verboseLabel_en-US" xlink:label="lab_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Associated derivatives, at fair value</link:label>
    <link:label id="lab_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_label_en-US" xlink:label="lab_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial instruments designated as hedging instruments, at fair value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:to="lab_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxExpenseIncome_26ea4d32-79d6-4f70-8035-2065108b5341_terseLabel_en-US" xlink:label="lab_ifrs-full_DeferredTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax expense</link:label>
    <link:label id="lab_ifrs-full_DeferredTaxExpenseIncome_label_en-US" xlink:label="lab_ifrs-full_DeferredTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax expense (income)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxExpenseIncome" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxExpenseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxExpenseIncome" xlink:to="lab_ifrs-full_DeferredTaxExpenseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DisclosureOfTheCompositionOfOtherIncomeTableTextBlock_af521ad6-edc9-4f68-a4bc-7cbb36480c52_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfTheCompositionOfOtherIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Breakdown of Other Income</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DisclosureOfTheCompositionOfOtherIncomeTableTextBlock" xlink:to="lab_tef_DisclosureOfTheCompositionOfOtherIncomeTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_4f798ee6-e1da-4a9c-8f35-96901af200e3_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CancomIrelandLimitedMember_4b03f2f8-7aa5-400e-b76c-e650f239fffa_terseLabel_en-US" xlink:label="lab_tef_CancomIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cancom Ireland Limited</link:label>
    <link:label id="lab_tef_CancomIrelandLimitedMember_label_en-US" xlink:label="lab_tef_CancomIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cancom Ireland Limited [Member]</link:label>
    <link:label id="lab_tef_CancomIrelandLimitedMember_documentation_en-US" xlink:label="lab_tef_CancomIrelandLimitedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cancom Ireland Limited</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CancomIrelandLimitedMember" xlink:href="tef-20221231.xsd#tef_CancomIrelandLimitedMember"/>
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    <link:label id="lab_tef_TelefonicaChileHoldingsMember_792dc738-f064-4e4d-8f80-cb445a88be9e_terseLabel_en-US" xlink:label="lab_tef_TelefonicaChileHoldingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Chile Holdings, S.L. Holding Company</link:label>
    <link:label id="lab_tef_TelefonicaChileHoldingsMember_label_en-US" xlink:label="lab_tef_TelefonicaChileHoldingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Chile Holdings [Member]</link:label>
    <link:label id="lab_tef_TelefonicaChileHoldingsMember_documentation_en-US" xlink:label="lab_tef_TelefonicaChileHoldingsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Chile Holdings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaChileHoldingsMember" xlink:href="tef-20221231.xsd#tef_TelefonicaChileHoldingsMember"/>
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    <link:label id="lab_ifrs-full_OtherCurrentAssets_06f92233-2c07-4c5e-b962-3c6d4bfd75b4_totalLabel_en-US" xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current assets</link:label>
    <link:label id="lab_ifrs-full_OtherCurrentAssets_label_en-US" xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentAssets" xlink:to="lab_ifrs-full_OtherCurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentsOfSpectrumLicenses_6e22e328-223c-4875-aa03-5038215e2d02_negatedTerseLabel_en-US" xlink:label="lab_tef_PaymentsOfSpectrumLicenses" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financed spectrum licenses payments</link:label>
    <link:label id="lab_tef_PaymentsOfSpectrumLicenses_label_en-US" xlink:label="lab_tef_PaymentsOfSpectrumLicenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments Of Spectrum Licenses</link:label>
    <link:label id="lab_tef_PaymentsOfSpectrumLicenses_documentation_en-US" xlink:label="lab_tef_PaymentsOfSpectrumLicenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments Of Spectrum Licenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentsOfSpectrumLicenses" xlink:href="tef-20221231.xsd#tef_PaymentsOfSpectrumLicenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentsOfSpectrumLicenses" xlink:to="lab_tef_PaymentsOfSpectrumLicenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RefundsProvisionMember_37a33c73-6876-44ba-b9b0-b7fcec9c8bd4_terseLabel_en-US" xlink:label="lab_ifrs-full_RefundsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amounts to be refunded to customers</link:label>
    <link:label id="lab_ifrs-full_RefundsProvisionMember_label_en-US" xlink:label="lab_ifrs-full_RefundsProvisionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Refunds provision [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RefundsProvisionMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RefundsProvisionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RefundsProvisionMember" xlink:to="lab_ifrs-full_RefundsProvisionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TreasurySharesActivityRollForward_b37da7b4-40ff-4206-9985-c6937d3564c0_terseLabel_en-US" xlink:label="lab_tef_TreasurySharesActivityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares Activity [Roll Forward]</link:label>
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    <link:label id="lab_tef_TreasurySharesActivityRollForward_documentation_en-US" xlink:label="lab_tef_TreasurySharesActivityRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares Activity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TreasurySharesActivityRollForward" xlink:href="tef-20221231.xsd#tef_TreasurySharesActivityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TreasurySharesActivityRollForward" xlink:to="lab_tef_TreasurySharesActivityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_bd91a2e2-eeae-4a8b-8c77-c47d14424603_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends paid</link:label>
    <link:label id="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_label_en-US" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends paid, classified as financing activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities"/>
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    <link:label id="lab_tef_RegulatoryOperationsSpeedofNetworkInfrastructureAccessforDataTransmissioninCopperPairsorCoaxialCables_66aa3285-f640-4369-bc5d-26ab4ee9a54d_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsSpeedofNetworkInfrastructureAccessforDataTransmissioninCopperPairsorCoaxialCables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Speed of network infrastructure access for data transmission in copper pairs or coaxial cables (Mbit per second)</link:label>
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    <link:label id="lab_tef_HispanoamericaMember_570880a5-0ec5-4cd2-adf5-795f4e51d596_terseLabel_en-US" xlink:label="lab_tef_HispanoamericaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Latin America</link:label>
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    <link:label id="lab_tef_OtherLiabilitiesAssociatesAndJointVentures_9b1e5614-96c7-4747-bc31-888cf5e7bfc7_terseLabel_en-US" xlink:label="lab_tef_OtherLiabilitiesAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other liabilities to associates and joint ventures (Note 10)</link:label>
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    <link:label id="lab_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate_752e14d8-a519-4ca0-8c53-61d6c10194b0_negatedTerseLabel_en-US" xlink:label="lab_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other liabilities</link:label>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationValueOfSharesToBeMaintainedByDirectorsNumberOfYearsOfGrossFixedRemuneration_eec53206-b987-4b68-90de-f3bdb3d8bbb8_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationValueOfSharesToBeMaintainedByDirectorsNumberOfYearsOfGrossFixedRemuneration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of years of gross fixed remuneration based on which the Directors need to maintain an amount of shares</link:label>
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    <link:label id="lab_ifrs-full_JointVenturesWhereEntityIsVenturerMember_1803c7b9-6330-4a00-a9ec-5360178d7d49_terseLabel_en-US" xlink:label="lab_ifrs-full_JointVenturesWhereEntityIsVenturerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Joint ventures</link:label>
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    <link:label id="lab_tef_AliancaAtlanticaHoldingMember_6b8af817-3026-4aab-997f-2c9df3dac5e3_terseLabel_en-US" xlink:label="lab_tef_AliancaAtlanticaHoldingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Alianca Atlantica Holding B.V.</link:label>
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    <link:label id="lab_tef_Expiringin2028Member_ea142af4-7244-4c75-b1da-28254b0314c3_terseLabel_en-US" xlink:label="lab_tef_Expiringin2028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2028</link:label>
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    <link:label id="lab_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_b180c9ae-865a-4967-8e59-cc235eac83db_terseLabel_en-US" xlink:label="lab_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
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    <link:label id="lab_tef_MovementofLeaseLiabilitiesRollForward_documentation_en-US" xlink:label="lab_tef_MovementofLeaseLiabilitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Movement of Lease Liabilities [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_MovementofLeaseLiabilitiesRollForward" xlink:href="tef-20221231.xsd#tef_MovementofLeaseLiabilitiesRollForward"/>
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    <link:label id="lab_tef_IncreaseDecreaseInShareCapitalPercentage_8c55b051-cc43-4420-aafa-9a5a4fffd120_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseInShareCapitalPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) in share capital, percentage</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseInShareCapitalPercentage" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseInShareCapitalPercentage"/>
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    <link:label id="lab_tef_MunicipalTaxAuthorityMember_d8e389e0-e91c-43dc-88d3-a1864367611a_terseLabel_en-US" xlink:label="lab_tef_MunicipalTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Municipal taxes</link:label>
    <link:label id="lab_tef_MunicipalTaxAuthorityMember_label_en-US" xlink:label="lab_tef_MunicipalTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Municipal Tax Authority [Member]</link:label>
    <link:label id="lab_tef_MunicipalTaxAuthorityMember_documentation_en-US" xlink:label="lab_tef_MunicipalTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Municipal Tax Authority [Member]</link:label>
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    <link:label id="lab_ifrs-full_CurrentProvisions_f82bb7cd-fbf5-4724-847f-33cb710dc411_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current provisions</link:label>
    <link:label id="lab_ifrs-full_CurrentProvisions_84fe52c1-1b36-40fd-810d-9a534568e185_totalLabel_en-US" xlink:label="lab_ifrs-full_CurrentProvisions" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentProvisions"/>
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    <link:label id="lab_dei_DocumentTransitionReport_17697175-2637-41e9-ac05-8a362b3c8b4d_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Transition Report</link:label>
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    <link:label id="lab_dei_LocalPhoneNumber_77c7454e-f023-44b7-be1e-4435a2d7a7c1_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber"/>
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    <link:label id="lab_tef_FixedtoFixedInterestRateMember_1e860936-fc39-4025-b4f6-a90e1f145175_terseLabel_en-US" xlink:label="lab_tef_FixedtoFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fixed to fix</link:label>
    <link:label id="lab_tef_FixedtoFixedInterestRateMember_label_en-US" xlink:label="lab_tef_FixedtoFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fixed to Fixed Interest Rate [Member]</link:label>
    <link:label id="lab_tef_FixedtoFixedInterestRateMember_documentation_en-US" xlink:label="lab_tef_FixedtoFixedInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fixed to Fixed Interest Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FixedtoFixedInterestRateMember" xlink:href="tef-20221231.xsd#tef_FixedtoFixedInterestRateMember"/>
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    <link:label id="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_33f5112f-efb5-4964-a44a-1a44c005b37f_terseLabel_en-US" xlink:label="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans and other payables</link:label>
    <link:label id="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows_label_en-US" xlink:label="lab_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade and other payables, undiscounted cash flows</link:label>
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    <link:label id="lab_tef_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwillIncludingHeldForSaleAndSold_ec1133f5-9953-4862-ae7e-6cb8caf9d385_terseLabel_en-US" xlink:label="lab_tef_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwillIncludingHeldForSaleAndSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total additions including additions corresponding to companies held for sale and sold companies</link:label>
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    <link:label id="lab_tef_TelxiusCableArgentinaS.A.Member_3cf5d57e-d40d-414d-8585-0d1e14eb6808_terseLabel_en-US" xlink:label="lab_tef_TelxiusCableArgentinaS.A.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable Argentina, S.A.</link:label>
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    <link:label id="lab_tef_PipolASMember_53e73285-2caf-4a5e-bd39-aee8fda365be_terseLabel_en-US" xlink:label="lab_tef_PipolASMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pipol A/S</link:label>
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    <link:label id="lab_tef_TelxiusTelecomMember_e370ee95-18c5-4536-8322-6212c1870ec5_terseLabel_en-US" xlink:label="lab_tef_TelxiusTelecomMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Telecom, S.A.</link:label>
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    <link:label id="lab_tef_TelxiusTelecomMember_documentation_en-US" xlink:label="lab_tef_TelxiusTelecomMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Telecom [Member]</link:label>
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    <link:label id="lab_tef_ColombiaTelecomunicacionesMember_99c02379-6247-4ba9-b989-8d67c9e11819_terseLabel_en-US" xlink:label="lab_tef_ColombiaTelecomunicacionesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombia Telecomunicaciones, S.A., ESP</link:label>
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    <link:label id="lab_tef_O2TelefonicaDeutschlandFinanzierungsGmbHMember_da8ed3e5-5ad8-4390-9889-c7379d347eff_terseLabel_en-US" xlink:label="lab_tef_O2TelefonicaDeutschlandFinanzierungsGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Telef&#243;nica Deutschland Finanzierungs, GmbH</link:label>
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    <link:label id="lab_tef_PromotoraDeInformacionesSAMember_154d538e-d098-4cf0-becc-582970ed4156_terseLabel_en-US" xlink:label="lab_tef_PromotoraDeInformacionesSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Promotora de informaciones, S.A. (Prisa)</link:label>
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    <link:label id="lab_tef_HedgesinEquityHedgingNoLongerNeeded_87b0878d-93f4-41d9-bebb-2d93a48861d3_terseLabel_en-US" xlink:label="lab_tef_HedgesinEquityHedgingNoLongerNeeded" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</link:label>
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    <link:label id="lab_tef_BusinessContact2Member_7f15e19d-64b5-4996-a34a-e6aeb72c6373_terseLabel_en-US" xlink:label="lab_tef_BusinessContact2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business contact 2</link:label>
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    <link:label id="lab_tef_TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment_9bbfc100-8a97-4e03-bc61-1cc4a3210122_terseLabel_en-US" xlink:label="lab_tef_TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pending payment amount from undiscounted cash flows of loans and other payables</link:label>
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    <link:label id="lab_tef_TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment_documentation_en-US" xlink:label="lab_tef_TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade And Other Payables, Undiscounted Cash Flows, Pending Payment</link:label>
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    <link:label id="lab_ifrs-full_OtherNoncurrentLiabilities_baf0bf11-b38d-4e3b-98e0-d3a303a2c569_terseLabel_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non current liabilities</link:label>
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    <link:label id="lab_ifrs-full_OtherNoncurrentLiabilities_label_en-US" xlink:label="lab_ifrs-full_OtherNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other non-current liabilities</link:label>
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    <link:label id="lab_tef_TelefonicadelPeruMember_1c95ab05-758e-4b41-9882-359f38d2a94d_terseLabel_en-US" xlink:label="lab_tef_TelefonicadelPeruMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica del Peru</link:label>
    <link:label id="lab_tef_TelefonicadelPeruMember_label_en-US" xlink:label="lab_tef_TelefonicadelPeruMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica del Peru [Member]</link:label>
    <link:label id="lab_tef_TelefonicadelPeruMember_documentation_en-US" xlink:label="lab_tef_TelefonicadelPeruMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica del Peru [Member]</link:label>
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    <link:label id="lab_tef_SensitivityAnalysisDecreaseInExchangeRate_7e7f7e68-fffb-468c-bde0-c676b93cda97_negatedTerseLabel_en-US" xlink:label="lab_tef_SensitivityAnalysisDecreaseInExchangeRate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Decrease in exchange rate</link:label>
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    <link:label id="lab_dei_DocumentFiscalPeriodFocus_03dca1ff-a9c4-4404-8859-4043e974aebb_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Fiscal Period Focus</link:label>
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    <link:label id="lab_ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_label_en-US" xlink:label="lab_ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional allowance recognised in profit or loss, allowance account for credit losses of financial assets</link:label>
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    <link:label id="lab_tef_JointVentureNumberOfOperatorsWithControl_dae75703-cbab-4b3f-a071-037484f84a46_terseLabel_en-US" xlink:label="lab_tef_JointVentureNumberOfOperatorsWithControl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Joint venture, number of operators with control</link:label>
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    <link:label id="lab_tef_JointVentureNumberOfOperatorsWithControl_documentation_en-US" xlink:label="lab_tef_JointVentureNumberOfOperatorsWithControl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Joint Venture, Number Of Operators With Control</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_JointVentureNumberOfOperatorsWithControl" xlink:href="tef-20221231.xsd#tef_JointVentureNumberOfOperatorsWithControl"/>
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    <link:label id="lab_tef_KeyManagementPersonnelCompensationFixedCompensation_0adb9b5d-4d21-40a0-9dae-e14f9dbdcb9c_terseLabel_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationFixedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fixed remuneration</link:label>
    <link:label id="lab_tef_KeyManagementPersonnelCompensationFixedCompensation_label_en-US" xlink:label="lab_tef_KeyManagementPersonnelCompensationFixedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Key Management Personnel Compensation, Fixed Compensation</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_KeyManagementPersonnelCompensationFixedCompensation" xlink:href="tef-20221231.xsd#tef_KeyManagementPersonnelCompensationFixedCompensation"/>
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    <link:label id="lab_tef_OtherAssociatesMember_a72e6ae8-4fad-4f9e-b842-ee5a9b86d513_terseLabel_en-US" xlink:label="lab_tef_OtherAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
    <link:label id="lab_tef_OtherAssociatesMember_label_en-US" xlink:label="lab_tef_OtherAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Associates [Member]</link:label>
    <link:label id="lab_tef_OtherAssociatesMember_documentation_en-US" xlink:label="lab_tef_OtherAssociatesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Associates [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherAssociatesMember" xlink:href="tef-20221231.xsd#tef_OtherAssociatesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherAssociatesMember" xlink:to="lab_tef_OtherAssociatesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TEBVFEB_03EMTNFIXEDTRANCHEBMember_b1993a2f-32da-4303-a587-a3c0f8b1620f_terseLabel_en-US" xlink:label="lab_tef_TEBVFEB_03EMTNFIXEDTRANCHEBMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEBV FEB_03 EMTN FIXED TRANCHE B</link:label>
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    <link:label id="lab_tef_SabinaFluxaThienemannMember_7923e3e6-9039-4fa3-b31a-016c0ec40364_terseLabel_en-US" xlink:label="lab_tef_SabinaFluxaThienemannMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ms. Sabina Flux&#224; Thienemann</link:label>
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    <link:label id="lab_tef_SabinaFluxaThienemannMember_documentation_en-US" xlink:label="lab_tef_SabinaFluxaThienemannMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sabina Fluxa Thienemann [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SabinaFluxaThienemannMember" xlink:href="tef-20221231.xsd#tef_SabinaFluxaThienemannMember"/>
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    <link:label id="lab_tef_TelefonicaServiciosIntegralesdeDistribucionMember_de9a28e3-1ce3-4d9d-914e-a63194b2f9a4_terseLabel_en-US" xlink:label="lab_tef_TelefonicaServiciosIntegralesdeDistribucionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Servicios Integrales de Distribucion [Member]</link:label>
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    <link:label id="lab_tef_TelefonicaTechSLMember_label_en-US" xlink:label="lab_tef_TelefonicaTechSLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech S.L. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaTechSLMember_documentation_en-US" xlink:label="lab_tef_TelefonicaTechSLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Tech S.L.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaTechSLMember" xlink:href="tef-20221231.xsd#tef_TelefonicaTechSLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaTechSLMember" xlink:to="lab_tef_TelefonicaTechSLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets_c0f26977-51f4-45d0-b6e8-cc7e80957f7e_terseLabel_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leases of low-value assets included in external services</link:label>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets_label_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense related to leases included in operating results as external services, low-value assets</link:label>
    <link:label id="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets_documentation_en-US" xlink:label="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense related to leases included in operating results as external services, low-value assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets" xlink:href="tef-20221231.xsd#tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets" xlink:to="lab_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_CLF_708fd149-4c08-4bea-bc06-a39936ac3071_terseLabel_en-US" xlink:label="lab_currency_CLF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UFC</link:label>
    <link:label id="lab_currency_CLF_label_en-US" xlink:label="lab_currency_CLF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unidad de Fomento (funds code)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_CLF" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_CLF"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_CLF" xlink:to="lab_currency_CLF" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate_1c199f6d-d581-4d25-9755-995baada87ec_terseLabel_en-US" xlink:label="lab_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contingent liabilities recognised as of acquisition date</link:label>
    <link:label id="lab_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contingent liabilities recognised as of acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="lab_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfThirdPartySites_44f9d0f6-ffdb-4b3e-9276-98de321cf007_terseLabel_en-US" xlink:label="lab_tef_NumberOfThirdPartySites" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of third party sites</link:label>
    <link:label id="lab_tef_NumberOfThirdPartySites_label_en-US" xlink:label="lab_tef_NumberOfThirdPartySites" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Third Party Sites</link:label>
    <link:label id="lab_tef_NumberOfThirdPartySites_documentation_en-US" xlink:label="lab_tef_NumberOfThirdPartySites" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Third Party Sites</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfThirdPartySites" xlink:href="tef-20221231.xsd#tef_NumberOfThirdPartySites"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfThirdPartySites" xlink:to="lab_tef_NumberOfThirdPartySites" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_b3020b36-0068-4a6c-832b-6ebc0b89f3e5_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_29c54473-feba-42c0-8f5a-b04defae77df_verboseLabel_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_label_en-US" xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_PEN_365f6acd-5149-4531-9cd6-17dd76744b02_verboseLabel_en-US" xlink:label="lab_currency_PEN" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New peruvian sol</link:label>
    <link:label id="lab_currency_PEN_788b5ab0-f00a-4e35-920f-60661f96413a_terseLabel_en-US" xlink:label="lab_currency_PEN" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PEN</link:label>
    <link:label id="lab_currency_PEN_label_en-US" xlink:label="lab_currency_PEN" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Peru, Nuevos Soles</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_PEN" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_PEN"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_PEN" xlink:to="lab_currency_PEN" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ReasonforProvisionDomain_642a1f55-05b5-4517-93d6-3aae0dcc868b_terseLabel_en-US" xlink:label="lab_tef_ReasonforProvisionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reason for Provision [Domain]</link:label>
    <link:label id="lab_tef_ReasonforProvisionDomain_label_en-US" xlink:label="lab_tef_ReasonforProvisionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reason for Provision [Domain]</link:label>
    <link:label id="lab_tef_ReasonforProvisionDomain_documentation_en-US" xlink:label="lab_tef_ReasonforProvisionDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Domain] for Reason for Provision [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReasonforProvisionDomain" xlink:href="tef-20221231.xsd#tef_ReasonforProvisionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ReasonforProvisionDomain" xlink:to="lab_tef_ReasonforProvisionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProductsAndServicesMember_bc139a64-353d-4b52-95f9-74bd92046989_terseLabel_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Products and services [member]</link:label>
    <link:label id="lab_ifrs-full_ProductsAndServicesMember_label_en-US" xlink:label="lab_ifrs-full_ProductsAndServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Products and services [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProductsAndServicesMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProductsAndServicesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProductsAndServicesMember" xlink:to="lab_ifrs-full_ProductsAndServicesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_DiscountRateAppliedToCashFlowProjectionsMember_da70ccc2-e9e9-4063-877b-95639e17a604_terseLabel_en-US" xlink:label="lab_tef_DiscountRateAppliedToCashFlowProjectionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discount rate</link:label>
    <link:label id="lab_tef_DiscountRateAppliedToCashFlowProjectionsMember_label_en-US" xlink:label="lab_tef_DiscountRateAppliedToCashFlowProjectionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discount Rate Applied To Cash Flow Projections [Member]</link:label>
    <link:label id="lab_tef_DiscountRateAppliedToCashFlowProjectionsMember_documentation_en-US" xlink:label="lab_tef_DiscountRateAppliedToCashFlowProjectionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discount Rate Applied To Cash Flow Projections [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_DiscountRateAppliedToCashFlowProjectionsMember" xlink:href="tef-20221231.xsd#tef_DiscountRateAppliedToCashFlowProjectionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_DiscountRateAppliedToCashFlowProjectionsMember" xlink:to="lab_tef_DiscountRateAppliedToCashFlowProjectionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelxiusCableUSAInc.Member_da10df56-44b4-4685-8b57-1c105a9c9956_terseLabel_en-US" xlink:label="lab_tef_TelxiusCableUSAInc.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable USA, Inc. High bandwidth communications services</link:label>
    <link:label id="lab_tef_TelxiusCableUSAInc.Member_label_en-US" xlink:label="lab_tef_TelxiusCableUSAInc.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable USA Inc. [Member]</link:label>
    <link:label id="lab_tef_TelxiusCableUSAInc.Member_documentation_en-US" xlink:label="lab_tef_TelxiusCableUSAInc.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telxius Cable USA Inc. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelxiusCableUSAInc.Member" xlink:href="tef-20221231.xsd#tef_TelxiusCableUSAInc.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelxiusCableUSAInc.Member" xlink:to="lab_tef_TelxiusCableUSAInc.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member_43947842-ef00-4c5e-90a5-784e02a3812f_terseLabel_en-US" xlink:label="lab_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Exercisable from issuer in 2025</link:label>
    <link:label id="lab_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member_label_en-US" xlink:label="lab_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Undated Deeply Subordinated Securities, Exercisable From Issuer in 2025, Issued 03/14/19 [Member]</link:label>
    <link:label id="lab_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member_documentation_en-US" xlink:label="lab_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Undated Deeply Subordinated Securities, Exercisable From Issuer in 2025, Issued 03/14/19 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member" xlink:href="tef-20221231.xsd#tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member" xlink:to="lab_tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TaxContingentLiabilityMember_93bad62c-76fa-4b4d-b08b-b85940326c6b_terseLabel_en-US" xlink:label="lab_ifrs-full_TaxContingentLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax contingent liability</link:label>
    <link:label id="lab_ifrs-full_TaxContingentLiabilityMember_label_en-US" xlink:label="lab_ifrs-full_TaxContingentLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax contingent liability [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TaxContingentLiabilityMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TaxContingentLiabilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TaxContingentLiabilityMember" xlink:to="lab_ifrs-full_TaxContingentLiabilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_CLP_4294b122-25dd-4595-9e5f-458fbbbe3e02_terseLabel_en-US" xlink:label="lab_currency_CLP" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Chilean peso</link:label>
    <link:label id="lab_currency_CLP_0ee10e8b-bcc7-4770-a5dc-cd61983698b2_verboseLabel_en-US" xlink:label="lab_currency_CLP" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CLP</link:label>
    <link:label id="lab_currency_CLP_label_en-US" xlink:label="lab_currency_CLP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Chile, Pesos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_CLP" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_CLP"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_CLP" xlink:to="lab_currency_CLP" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_FinancialInstrumentsFairValue_acb2bc88-bcb9-412c-a9c4-422dc38bc28c_terseLabel_en-US" xlink:label="lab_tef_FinancialInstrumentsFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial instruments, at fair value</link:label>
    <link:label id="lab_tef_FinancialInstrumentsFairValue_label_en-US" xlink:label="lab_tef_FinancialInstrumentsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial Instruments, Fair Value</link:label>
    <link:label id="lab_tef_FinancialInstrumentsFairValue_documentation_en-US" xlink:label="lab_tef_FinancialInstrumentsFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial Instruments, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_FinancialInstrumentsFairValue" xlink:href="tef-20221231.xsd#tef_FinancialInstrumentsFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_FinancialInstrumentsFairValue" xlink:to="lab_tef_FinancialInstrumentsFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_896e07d8-9607-43a2-a3bc-dfdf85baf073_terseLabel_en-US" xlink:label="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica, S.A. share option plans (in shares)</link:label>
    <link:label id="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_label_en-US" xlink:label="lab_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dilutive effect of share options on number of ordinary shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares"/>
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    <link:label id="lab_tef_TelefonicaGermanyNextGmbHMember_e8f9aebd-490e-4034-9a44-53c76e898eaf_terseLabel_en-US" xlink:label="lab_tef_TelefonicaGermanyNextGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Germany Next GmbH Technological and consulting services in Big Data provider</link:label>
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    <link:label id="lab_tef_HedgingInstrumentstoPayMember_464d4f21-e52c-4d2f-bcd6-6990062526b6_terseLabel_en-US" xlink:label="lab_tef_HedgingInstrumentstoPayMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pay</link:label>
    <link:label id="lab_tef_HedgingInstrumentstoPayMember_label_en-US" xlink:label="lab_tef_HedgingInstrumentstoPayMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging Instruments to Pay [Member]</link:label>
    <link:label id="lab_tef_HedgingInstrumentstoPayMember_documentation_en-US" xlink:label="lab_tef_HedgingInstrumentstoPayMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging Instruments to Pay [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_HedgingInstrumentstoPayMember" xlink:href="tef-20221231.xsd#tef_HedgingInstrumentstoPayMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_HedgingInstrumentstoPayMember" xlink:to="lab_tef_HedgingInstrumentstoPayMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_01579c73-938b-41b9-ba64-fd60f465b2bc_terseLabel_en-US" xlink:label="lab_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Change in trade provisions</link:label>
    <link:label id="lab_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables_label_en-US" xlink:label="lab_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment loss (reversal of impairment loss) recognised in profit or loss, trade receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:to="lab_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TreasurySharesDisposal_c3a87e73-164c-468b-a4a7-5845021642cd_negatedTerseLabel_en-US" xlink:label="lab_tef_TreasurySharesDisposal" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury shares, sales (in shares)</link:label>
    <link:label id="lab_tef_TreasurySharesDisposal_label_en-US" xlink:label="lab_tef_TreasurySharesDisposal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares, Disposal</link:label>
    <link:label id="lab_tef_TreasurySharesDisposal_documentation_en-US" xlink:label="lab_tef_TreasurySharesDisposal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Treasury Shares, Disposal</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TreasurySharesDisposal" xlink:href="tef-20221231.xsd#tef_TreasurySharesDisposal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TreasurySharesDisposal" xlink:to="lab_tef_TreasurySharesDisposal" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EAFMember_68450295-367e-486d-bdce-040f7fc1c7b3_terseLabel_en-US" xlink:label="lab_tef_EAFMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EAF</link:label>
    <link:label id="lab_tef_EAFMember_label_en-US" xlink:label="lab_tef_EAFMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EAF [Member]</link:label>
    <link:label id="lab_tef_EAFMember_documentation_en-US" xlink:label="lab_tef_EAFMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EAF</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EAFMember" xlink:href="tef-20221231.xsd#tef_EAFMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EAFMember" xlink:to="lab_tef_EAFMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CurrentTaxPayables_bc07b093-d0e4-4bb0-afdf-7c4d9e2c6461_terseLabel_en-US" xlink:label="lab_tef_CurrentTaxPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current tax payables</link:label>
    <link:label id="lab_tef_CurrentTaxPayables_label_en-US" xlink:label="lab_tef_CurrentTaxPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Tax Payables</link:label>
    <link:label id="lab_tef_CurrentTaxPayables_documentation_en-US" xlink:label="lab_tef_CurrentTaxPayables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current Tax Payables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CurrentTaxPayables" xlink:href="tef-20221231.xsd#tef_CurrentTaxPayables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_CurrentTaxPayables" xlink:to="lab_tef_CurrentTaxPayables" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProportionOfVotingRightsHeldInJointVenture_ab8fc8a5-937e-44e1-829e-60169f814397_terseLabel_en-US" xlink:label="lab_ifrs-full_ProportionOfVotingRightsHeldInJointVenture" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of voting rights held in joint venture</link:label>
    <link:label id="lab_ifrs-full_ProportionOfVotingRightsHeldInJointVenture_label_en-US" xlink:label="lab_ifrs-full_ProportionOfVotingRightsHeldInJointVenture" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of voting rights held in joint venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProportionOfVotingRightsHeldInJointVenture" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProportionOfVotingRightsHeldInJointVenture"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProportionOfVotingRightsHeldInJointVenture" xlink:to="lab_ifrs-full_ProportionOfVotingRightsHeldInJointVenture" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment_7b0966e4-2076-4545-acab-23e9ea739386_terseLabel_en-US" xlink:label="lab_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period covering projected cash flows for calculation of impairment</link:label>
    <link:label id="lab_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment_label_en-US" xlink:label="lab_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period covering projected cash flows for calculation of impairment</link:label>
    <link:label id="lab_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment_documentation_en-US" xlink:label="lab_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period covering projected cash flows for calculation of impairment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment" xlink:href="tef-20221231.xsd#tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment" xlink:to="lab_tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_C02ENObjectiveMember_66f7210a-f90a-4ac4-a327-edd084015eac_terseLabel_en-US" xlink:label="lab_tef_C02ENObjectiveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C02 E.N. Objective</link:label>
    <link:label id="lab_tef_C02ENObjectiveMember_label_en-US" xlink:label="lab_tef_C02ENObjectiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C02 E.N. Objective [Member]</link:label>
    <link:label id="lab_tef_C02ENObjectiveMember_documentation_en-US" xlink:label="lab_tef_C02ENObjectiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C02 E.N. Objective</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_C02ENObjectiveMember" xlink:href="tef-20221231.xsd#tef_C02ENObjectiveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_C02ENObjectiveMember" xlink:to="lab_tef_C02ENObjectiveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Level3OfFairValueHierarchyMember_f0c42e15-0334-4f33-a939-ee1a4ef22ec9_terseLabel_en-US" xlink:label="lab_ifrs-full_Level3OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Level 3 (Inputs not based on observable market data)</link:label>
    <link:label id="lab_ifrs-full_Level3OfFairValueHierarchyMember_label_en-US" xlink:label="lab_ifrs-full_Level3OfFairValueHierarchyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Level 3 of fair value hierarchy [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Level3OfFairValueHierarchyMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Level3OfFairValueHierarchyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="lab_ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_UGGGeneralPartnerGmbHMember_cfea36cf-b557-4a6a-9929-64878c6745c2_terseLabel_en-US" xlink:label="lab_tef_UGGGeneralPartnerGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UGG General Partner GmbH</link:label>
    <link:label id="lab_tef_UGGGeneralPartnerGmbHMember_label_en-US" xlink:label="lab_tef_UGGGeneralPartnerGmbHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UGG General Partner GmbH [Member]</link:label>
    <link:label id="lab_tef_UGGGeneralPartnerGmbHMember_documentation_en-US" xlink:label="lab_tef_UGGGeneralPartnerGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">UGG General Partner GmbH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_UGGGeneralPartnerGmbHMember" xlink:href="tef-20221231.xsd#tef_UGGGeneralPartnerGmbHMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_UGGGeneralPartnerGmbHMember" xlink:to="lab_tef_UGGGeneralPartnerGmbHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilities_eb80247c-d897-4e69-b3de-023af8392d95_totalLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_64a552ac-ad8d-43f0-9ca9-42eaa59b137b_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total carrying amount</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_c418fa16-d53c-4cc3-b74d-18be319dfd11_periodStartLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, beginning balance</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_4ad5b4f0-5de7-4a7b-8a6f-99719bd6f507_periodEndLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities, ending balance</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_268b85fc-bb35-4ee7-ba37-47b554af13a4_verboseLabel_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities</link:label>
    <link:label id="lab_ifrs-full_FinancialLiabilities_label_en-US" xlink:label="lab_ifrs-full_FinancialLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilities" xlink:to="lab_ifrs-full_FinancialLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_7736aa0d-61d1-422d-ae79-ec49f0369214_terseLabel_en-US" xlink:label="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities associated with non-current assets and disposal groups held for sale</link:label>
    <link:label id="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_label_en-US" xlink:label="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities included in disposal groups classified as held for sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:to="lab_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ForeignDefinedBenefitPlanMember_53ad38dd-6313-4b8e-ac78-4f74a075d958_terseLabel_en-US" xlink:label="lab_tef_ForeignDefinedBenefitPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Foreign defined benefit plans</link:label>
    <link:label id="lab_tef_ForeignDefinedBenefitPlanMember_label_en-US" xlink:label="lab_tef_ForeignDefinedBenefitPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Foreign Defined Benefit Plan [Member]</link:label>
    <link:label id="lab_tef_ForeignDefinedBenefitPlanMember_documentation_en-US" xlink:label="lab_tef_ForeignDefinedBenefitPlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Foreign Defined Benefit Plan [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ForeignDefinedBenefitPlanMember" xlink:href="tef-20221231.xsd#tef_ForeignDefinedBenefitPlanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ForeignDefinedBenefitPlanMember" xlink:to="lab_tef_ForeignDefinedBenefitPlanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaBrasilSAMember_bce02f65-1df5-4e50-8d28-a9db80323de7_terseLabel_en-US" xlink:label="lab_tef_TelefonicaBrasilSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#244;nica Brasil, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaBrasilSAMember_label_en-US" xlink:label="lab_tef_TelefonicaBrasilSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#244;nica Brasil, S.A. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaBrasilSAMember_documentation_en-US" xlink:label="lab_tef_TelefonicaBrasilSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#244;nica Brasil, S.A.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaBrasilSAMember" xlink:href="tef-20221231.xsd#tef_TelefonicaBrasilSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaBrasilSAMember" xlink:to="lab_tef_TelefonicaBrasilSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherBenefitsDomain_17fcb677-1be3-43e3-b4d4-539e8be6b34c_terseLabel_en-US" xlink:label="lab_tef_OtherBenefitsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Benefits [Domain]</link:label>
    <link:label id="lab_tef_OtherBenefitsDomain_label_en-US" xlink:label="lab_tef_OtherBenefitsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Benefits [Domain]</link:label>
    <link:label id="lab_tef_OtherBenefitsDomain_documentation_en-US" xlink:label="lab_tef_OtherBenefitsDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Benefits [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherBenefitsDomain" xlink:href="tef-20221231.xsd#tef_OtherBenefitsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherBenefitsDomain" xlink:to="lab_tef_OtherBenefitsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsImpairedMember_42dd6be0-a78c-4a21-85a5-8574d771c864_netLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsImpairedMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of trade receivables</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsImpairedMember_88dbffa5-ce1d-41cb-ac7c-0cac663f55fe_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsImpairedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of trade receivables</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsImpairedMember_label_en-US" xlink:label="lab_ifrs-full_FinancialAssetsImpairedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial assets impaired [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsImpairedMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsImpairedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsImpairedMember" xlink:to="lab_ifrs-full_FinancialAssetsImpairedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ProsegurSolucionesSAUMember_5812b3a4-4c60-4c28-9665-e6fedd855d42_terseLabel_en-US" xlink:label="lab_tef_ProsegurSolucionesSAUMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Prosegur Soluciones S.A.U.</link:label>
    <link:label id="lab_tef_ProsegurSolucionesSAUMember_label_en-US" xlink:label="lab_tef_ProsegurSolucionesSAUMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Prosegur Soluciones S.A.U. [Member]</link:label>
    <link:label id="lab_tef_ProsegurSolucionesSAUMember_documentation_en-US" xlink:label="lab_tef_ProsegurSolucionesSAUMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Prosegur Soluciones S.A.U.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ProsegurSolucionesSAUMember" xlink:href="tef-20221231.xsd#tef_ProsegurSolucionesSAUMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ProsegurSolucionesSAUMember" xlink:to="lab_tef_ProsegurSolucionesSAUMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondT.Peru6thProgram16thSeriesAMember_8207fef7-a64a-4eeb-9380-7a5c6d286e7e_terseLabel_en-US" xlink:label="lab_tef_BondT.Peru6thProgram16thSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 6th Program (16th Serie A)</link:label>
    <link:label id="lab_tef_BondT.Peru6thProgram16thSeriesAMember_label_en-US" xlink:label="lab_tef_BondT.Peru6thProgram16thSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 6th Program (16th Series A) [Member]</link:label>
    <link:label id="lab_tef_BondT.Peru6thProgram16thSeriesAMember_documentation_en-US" xlink:label="lab_tef_BondT.Peru6thProgram16thSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 6th Program (16th Series A) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondT.Peru6thProgram16thSeriesAMember" xlink:href="tef-20221231.xsd#tef_BondT.Peru6thProgram16thSeriesAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondT.Peru6thProgram16thSeriesAMember" xlink:to="lab_tef_BondT.Peru6thProgram16thSeriesAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitiesTable_b0831f23-0698-4a18-840a-6b3902555286_terseLabel_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entities [Table]</link:label>
    <link:label id="lab_dei_EntitiesTable_label_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitiesTable" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitiesTable" xlink:to="lab_dei_EntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_StrikePriceofDerivativeInstrument_5a1de9ef-b0d2-4b91-a917-1adf3c9a0865_terseLabel_en-US" xlink:label="lab_tef_StrikePriceofDerivativeInstrument" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Strike price of derivative instrument</link:label>
    <link:label id="lab_tef_StrikePriceofDerivativeInstrument_label_en-US" xlink:label="lab_tef_StrikePriceofDerivativeInstrument" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Strike Price of Derivative Instrument</link:label>
    <link:label id="lab_tef_StrikePriceofDerivativeInstrument_documentation_en-US" xlink:label="lab_tef_StrikePriceofDerivativeInstrument" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Strike Price of Derivative Instrument</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_StrikePriceofDerivativeInstrument" xlink:href="tef-20221231.xsd#tef_StrikePriceofDerivativeInstrument"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_StrikePriceofDerivativeInstrument" xlink:to="lab_tef_StrikePriceofDerivativeInstrument" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets_8160dcaf-21ab-4aee-b279-1c623fa3f16f_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payables to suppliers of property, plant and equipment</link:label>
    <link:label id="lab_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets_label_en-US" xlink:label="lab_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current payables for purchase of non-current assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets" xlink:to="lab_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BoydakAutomationAGMember_9fa0c867-6ba7-40ce-b68a-73f5203b91d2_terseLabel_en-US" xlink:label="lab_tef_BoydakAutomationAGMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Boydak Automation AG</link:label>
    <link:label id="lab_tef_BoydakAutomationAGMember_label_en-US" xlink:label="lab_tef_BoydakAutomationAGMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Boydak Automation AG [Member]</link:label>
    <link:label id="lab_tef_BoydakAutomationAGMember_documentation_en-US" xlink:label="lab_tef_BoydakAutomationAGMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Boydak Automation AG</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BoydakAutomationAGMember" xlink:href="tef-20221231.xsd#tef_BoydakAutomationAGMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BoydakAutomationAGMember" xlink:to="lab_tef_BoydakAutomationAGMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaBrasilAndTelxiusGroupMember_aa81c6da-84f2-44a3-b93c-c9ca157575d5_terseLabel_en-US" xlink:label="lab_tef_TelefonicaBrasilAndTelxiusGroupMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil and Telxius Group</link:label>
    <link:label id="lab_tef_TelefonicaBrasilAndTelxiusGroupMember_label_en-US" xlink:label="lab_tef_TelefonicaBrasilAndTelxiusGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil and Telxius Group [Member]</link:label>
    <link:label id="lab_tef_TelefonicaBrasilAndTelxiusGroupMember_documentation_en-US" xlink:label="lab_tef_TelefonicaBrasilAndTelxiusGroupMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil and Telxius Group</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaBrasilAndTelxiusGroupMember" xlink:href="tef-20221231.xsd#tef_TelefonicaBrasilAndTelxiusGroupMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaBrasilAndTelxiusGroupMember" xlink:to="lab_tef_TelefonicaBrasilAndTelxiusGroupMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_EquityInstrumentsRollForward_da8211c6-c80e-46f1-8fee-f1bee8db7391_terseLabel_en-US" xlink:label="lab_tef_EquityInstrumentsRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity Instruments [Roll Forward]</link:label>
    <link:label id="lab_tef_EquityInstrumentsRollForward_label_en-US" xlink:label="lab_tef_EquityInstrumentsRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity Instruments [Roll Forward]</link:label>
    <link:label id="lab_tef_EquityInstrumentsRollForward_documentation_en-US" xlink:label="lab_tef_EquityInstrumentsRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity Instruments [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_EquityInstrumentsRollForward" xlink:href="tef-20221231.xsd#tef_EquityInstrumentsRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_EquityInstrumentsRollForward" xlink:to="lab_tef_EquityInstrumentsRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_CHF_4723209a-308f-46e4-93f2-5ece919831ef_terseLabel_en-US" xlink:label="lab_currency_CHF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CHF</link:label>
    <link:label id="lab_currency_CHF_label_en-US" xlink:label="lab_currency_CHF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Switzerland, Francs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_CHF" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_CHF"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_CHF" xlink:to="lab_currency_CHF" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueFromGovernmentGrants_4aec1283-0a19-46f6-9744-37d448bb7db6_terseLabel_en-US" xlink:label="lab_ifrs-full_RevenueFromGovernmentGrants" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Government grants</link:label>
    <link:label id="lab_ifrs-full_RevenueFromGovernmentGrants_label_en-US" xlink:label="lab_ifrs-full_RevenueFromGovernmentGrants" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income from government grants</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromGovernmentGrants" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromGovernmentGrants"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueFromGovernmentGrants" xlink:to="lab_ifrs-full_RevenueFromGovernmentGrants" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale_f888486c-87e8-44b6-8300-ff6b8a64f1c2_terseLabel_en-US" xlink:label="lab_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Portion of additions until date of reclassification to held-for-sale</link:label>
    <link:label id="lab_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale_label_en-US" xlink:label="lab_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment, Portion of additions until date of reclassification to held-for-sale</link:label>
    <link:label id="lab_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale_documentation_en-US" xlink:label="lab_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment, Portion of additions until date of reclassification to held-for-sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale" xlink:href="tef-20221231.xsd#tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale" xlink:to="lab_tef_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipmentPortionOfAdditionsUntilDateOfReclassificationToHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondT.Peru6thProgram11thSerieAMember_ca4bf923-fd42-4532-be24-f3f5f0c2618a_terseLabel_en-US" xlink:label="lab_tef_BondT.Peru6thProgram11thSerieAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 6th Program (11th Serie A)</link:label>
    <link:label id="lab_tef_BondT.Peru6thProgram11thSerieAMember_label_en-US" xlink:label="lab_tef_BondT.Peru6thProgram11thSerieAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 6th Program (11th Serie A) [Member]</link:label>
    <link:label id="lab_tef_BondT.Peru6thProgram11thSerieAMember_documentation_en-US" xlink:label="lab_tef_BondT.Peru6thProgram11thSerieAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 6th Program (11th Serie A) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondT.Peru6thProgram11thSerieAMember" xlink:href="tef-20221231.xsd#tef_BondT.Peru6thProgram11thSerieAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BondT.Peru6thProgram11thSerieAMember" xlink:to="lab_tef_BondT.Peru6thProgram11thSerieAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherLongTermCredits_a2b8cf2e-8e22-4153-bd74-ffa9414e3d1c_terseLabel_en-US" xlink:label="lab_tef_OtherLongTermCredits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other long-term credits</link:label>
    <link:label id="lab_tef_OtherLongTermCredits_label_en-US" xlink:label="lab_tef_OtherLongTermCredits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Long Term Credits</link:label>
    <link:label id="lab_tef_OtherLongTermCredits_documentation_en-US" xlink:label="lab_tef_OtherLongTermCredits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Long Term Credits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherLongTermCredits" xlink:href="tef-20221231.xsd#tef_OtherLongTermCredits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherLongTermCredits" xlink:to="lab_tef_OtherLongTermCredits" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Promissorynotesissuableallowedincrease_ac6e4757-e5e9-4dfb-8cd4-3c50f20915be_terseLabel_en-US" xlink:label="lab_tef_Promissorynotesissuableallowedincrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Promissory notes issuable, allowed increase</link:label>
    <link:label id="lab_tef_Promissorynotesissuableallowedincrease_label_en-US" xlink:label="lab_tef_Promissorynotesissuableallowedincrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Promissory notes issuable, allowed increase</link:label>
    <link:label id="lab_tef_Promissorynotesissuableallowedincrease_documentation_en-US" xlink:label="lab_tef_Promissorynotesissuableallowedincrease" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Promissory notes issuable, allowed increase</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Promissorynotesissuableallowedincrease" xlink:href="tef-20221231.xsd#tef_Promissorynotesissuableallowedincrease"/>
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    <link:label id="lab_ifrs-full_LandMember_9508204a-1092-4832-bedc-ee04adf75d80_terseLabel_en-US" xlink:label="lab_ifrs-full_LandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rights of use on land and natural properties</link:label>
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    <link:label id="lab_tef_PoundsSterlingDenominatedBorrowingsMember_767ad062-d604-4593-a797-fdf2b6be0365_terseLabel_en-US" xlink:label="lab_tef_PoundsSterlingDenominatedBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pounds Sterling Denominated Borrowings</link:label>
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    <link:label id="lab_ifrs-full_LandAndBuildingsMember_ff6941ff-e9e1-476a-b0b3-9c5952947f07_terseLabel_en-US" xlink:label="lab_ifrs-full_LandAndBuildingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land and buildings</link:label>
    <link:label id="lab_ifrs-full_LandAndBuildingsMember_label_en-US" xlink:label="lab_ifrs-full_LandAndBuildingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land and buildings [member]</link:label>
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    <link:label id="lab_ifrs-full_HedgingInstrumentLiabilities_8ba895ea-d333-4ce9-b794-697c5e50311b_terseLabel_en-US" xlink:label="lab_ifrs-full_HedgingInstrumentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net debt held as a hedging instrument</link:label>
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    <link:label id="lab_ifrs-full_HedgingInstrumentLiabilities_label_en-US" xlink:label="lab_ifrs-full_HedgingInstrumentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging instrument, liabilities</link:label>
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    <link:label id="lab_tef_Expiringin2022Member_e3fe3eba-80c2-4bbe-904c-c9dd6fab26b5_terseLabel_en-US" xlink:label="lab_tef_Expiringin2022Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expiring in 2022</link:label>
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    <link:label id="lab_ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember_3cfee8a5-52ea-4f6b-9e60-e4d7739aa6da_terseLabel_en-US" xlink:label="lab_ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Post-employment defined benefit plans</link:label>
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    <link:label id="lab_tef_TelefonicaDeutschlandHoldingAGMember_d8a9d7b2-9ec5-43bf-8cc0-88d9750de5da_terseLabel_en-US" xlink:label="lab_tef_TelefonicaDeutschlandHoldingAGMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Deutschland Holding A.G.</link:label>
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    <link:label id="lab_tef_TelefonicaDeutschlandHoldingAGMember_documentation_en-US" xlink:label="lab_tef_TelefonicaDeutschlandHoldingAGMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Deutschland Holding A.G.</link:label>
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    <link:label id="lab_ifrs-full_BrandNamesMember_71c67462-7727-4d31-a280-f4f596343809_terseLabel_en-US" xlink:label="lab_ifrs-full_BrandNamesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trademarks</link:label>
    <link:label id="lab_ifrs-full_BrandNamesMember_label_en-US" xlink:label="lab_ifrs-full_BrandNamesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Brand names [member]</link:label>
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    <link:label id="lab_ifrs-full_DisclosureOfDebtSecuritiesExplanatory_a46870ad-d507-4b81-b604-7fac20581a4a_verboseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfDebtSecuritiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Appendix III: Debentures and Bonds</link:label>
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    <link:label id="lab_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_ecc68296-ef5f-41b3-a439-f646da0e01b0_terseLabel_en-US" xlink:label="lab_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in associates</link:label>
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    <link:label id="lab_tef_WYTelecomMember_003e8762-29ba-4285-883f-2923935e8004_terseLabel_en-US" xlink:label="lab_tef_WYTelecomMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wayra Argentina, S.A. Talent identification and development in ICT</link:label>
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    <link:label id="lab_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness_f909d91b-bffa-42c5-ae7d-472fd3022ea2_terseLabel_en-US" xlink:label="lab_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ineffective portion hedged registered in the income statement</link:label>
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    <link:label id="lab_tef_SensitivityAnalysisPercentageIncreaseInInterestRate_f836ee10-c67e-4ce8-87ab-3c32d3fe3104_terseLabel_en-US" xlink:label="lab_tef_SensitivityAnalysisPercentageIncreaseInInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase in interest rate</link:label>
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    <link:label id="lab_ifrs-full_ComputerSoftwareMember_d814c2d9-7ae0-4508-aaa9-f6695d3c7002_terseLabel_en-US" xlink:label="lab_ifrs-full_ComputerSoftwareMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Software</link:label>
    <link:label id="lab_ifrs-full_ComputerSoftwareMember_label_en-US" xlink:label="lab_ifrs-full_ComputerSoftwareMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Computer software [member]</link:label>
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    <link:label id="lab_tef_IdentifiableAssetsAcquired_253db5b4-a892-4c79-b8bb-604077243292_terseLabel_en-US" xlink:label="lab_tef_IdentifiableAssetsAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_tef_IdentifiableAssetsAcquired_label_en-US" xlink:label="lab_tef_IdentifiableAssetsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Identifiable assets acquired</link:label>
    <link:label id="lab_tef_IdentifiableAssetsAcquired_documentation_en-US" xlink:label="lab_tef_IdentifiableAssetsAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Identifiable assets acquired</link:label>
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    <link:label id="lab_ifrs-full_FinancialAssetsCategoryMember_7e8f099c-db0d-4642-9b9d-5f97b65455f1_terseLabel_en-US" xlink:label="lab_ifrs-full_FinancialAssetsCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial assets, category [member]</link:label>
    <link:label id="lab_ifrs-full_FinancialAssetsCategoryMember_label_en-US" xlink:label="lab_ifrs-full_FinancialAssetsCategoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial assets, category [member]</link:label>
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    <link:label id="lab_tef_BETernaIndustrySolutionsGmbHMember_3669d1fc-5a48-49fc-85a0-c2968a62e800_terseLabel_en-US" xlink:label="lab_tef_BETernaIndustrySolutionsGmbHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Industry Solutions GmbH</link:label>
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    <link:label id="lab_tef_BETernaIndustrySolutionsGmbHMember_documentation_en-US" xlink:label="lab_tef_BETernaIndustrySolutionsGmbHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna Industry Solutions GmbH</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BETernaIndustrySolutionsGmbHMember" xlink:to="lab_tef_BETernaIndustrySolutionsGmbHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_CashAndCashEquivalents1Member_67e06cd0-c62c-4972-aa82-765b780b11d4_terseLabel_en-US" xlink:label="lab_tef_CashAndCashEquivalents1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and cash equivalents</link:label>
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    <link:label id="lab_tef_CashAndCashEquivalents1Member_documentation_en-US" xlink:label="lab_tef_CashAndCashEquivalents1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash And Cash Equivalents 1 [Member]</link:label>
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    <link:label id="lab_ifrs-full_TypesOfRisksMember_2456742e-74aa-4b95-aff7-2793dac8039e_terseLabel_en-US" xlink:label="lab_ifrs-full_TypesOfRisksMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Risks [member]</link:label>
    <link:label id="lab_ifrs-full_TypesOfRisksMember_label_en-US" xlink:label="lab_ifrs-full_TypesOfRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Risks [member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TypesOfRisksMember" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_TypesOfRisksMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfRisksMember" xlink:to="lab_ifrs-full_TypesOfRisksMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NotionalAmount_cc894c17-d78e-4f6c-99eb-76a2afd8fb6d_terseLabel_en-US" xlink:label="lab_ifrs-full_NotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contractual limit amount</link:label>
    <link:label id="lab_ifrs-full_NotionalAmount_712bb538-5a9c-43dc-901b-272cec591c1e_verboseLabel_en-US" xlink:label="lab_ifrs-full_NotionalAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Notional amount</link:label>
    <link:label id="lab_ifrs-full_NotionalAmount_label_en-US" xlink:label="lab_ifrs-full_NotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Notional amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NotionalAmount" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NotionalAmount"/>
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    <link:label id="lab_ifrs-full_BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables_ed3d00f1-3b66-4f65-abd2-478e5ab82c8a_terseLabel_en-US" xlink:label="lab_ifrs-full_BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Best estimate at acquisition date of contractual cash flows not expected to be collected for acquired receivables</link:label>
    <link:label id="lab_ifrs-full_BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables_label_en-US" xlink:label="lab_ifrs-full_BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Best estimate at acquisition date of contractual cash flows not expected to be collected for acquired receivables</link:label>
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    <link:label id="lab_tef_TELEFEMISIONESDECEMBER2016Member_76936392-62f4-4f0c-9fbb-862c55d6827d_terseLabel_en-US" xlink:label="lab_tef_TELEFEMISIONESDECEMBER2016Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TELEF. EMISIONES DECEMBER 2016</link:label>
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    <link:label id="lab_tef_LatinAmericaTowersDivisionMember_be9de4af-5b28-4e9c-adcb-1a50d7efa9a5_terseLabel_en-US" xlink:label="lab_tef_LatinAmericaTowersDivisionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Latin America towers division</link:label>
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    <link:label id="lab_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_e610a2fe-d8d8-490c-b763-0a160b85b010_terseLabel_en-US" xlink:label="lab_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Current service cost</link:label>
    <link:label id="lab_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_label_en-US" xlink:label="lab_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase in net defined benefit liability (asset) resulting from current service cost</link:label>
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    <link:label id="lab_tef_DeferredTaxLiabilitiesAbstract_ad4221bc-56df-472c-8f11-442e4f201182_terseLabel_en-US" xlink:label="lab_tef_DeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label id="lab_tef_DeferredTaxLiabilitiesAbstract_label_en-US" xlink:label="lab_tef_DeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Liabilities [Abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_DeferredTaxLiabilitiesAbstract" xlink:href="tef-20221231.xsd#tef_DeferredTaxLiabilitiesAbstract"/>
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    <link:label id="lab_tef_TempotelEmpresadeTrabajoTemporalMember_7d4cef65-f9d6-4e67-a635-6048bdfc9948_terseLabel_en-US" xlink:label="lab_tef_TempotelEmpresadeTrabajoTemporalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tempotel, Empresa de Trabajo Temporal, S.A.</link:label>
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    <link:label id="lab_tef_TempotelEmpresadeTrabajoTemporalMember_documentation_en-US" xlink:label="lab_tef_TempotelEmpresadeTrabajoTemporalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tempotel, Empresa de Trabajo Temporal [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TempotelEmpresadeTrabajoTemporalMember" xlink:to="lab_tef_TempotelEmpresadeTrabajoTemporalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaColombiaMember_676d32d3-5cf1-4583-a3a8-c38ed5bc0781_terseLabel_en-US" xlink:label="lab_tef_TelefonicaColombiaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Colombia</link:label>
    <link:label id="lab_tef_TelefonicaColombiaMember_label_en-US" xlink:label="lab_tef_TelefonicaColombiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Colombia [Member]</link:label>
    <link:label id="lab_tef_TelefonicaColombiaMember_documentation_en-US" xlink:label="lab_tef_TelefonicaColombiaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Colombia</link:label>
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    <link:label id="lab_tef_ServicesAgreementAmount_67b7bc91-a93e-4e99-8b4c-8ff5b62fcb6b_terseLabel_en-US" xlink:label="lab_tef_ServicesAgreementAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Services agreement amount</link:label>
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    <link:label id="lab_tef_ServicesAgreementAmount_documentation_en-US" xlink:label="lab_tef_ServicesAgreementAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Services Agreement Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ServicesAgreementAmount" xlink:href="tef-20221231.xsd#tef_ServicesAgreementAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ServicesAgreementAmount" xlink:to="lab_tef_ServicesAgreementAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_KKRAlamedaAggregatorLPMember_f0cbc522-931c-4462-8b5a-190d79d51c94_terseLabel_en-US" xlink:label="lab_tef_KKRAlamedaAggregatorLPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">KKR Alameda Aggregator L.P.</link:label>
    <link:label id="lab_tef_KKRAlamedaAggregatorLPMember_label_en-US" xlink:label="lab_tef_KKRAlamedaAggregatorLPMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">KKR Alameda Aggregator L.P. [Member]</link:label>
    <link:label id="lab_tef_KKRAlamedaAggregatorLPMember_documentation_en-US" xlink:label="lab_tef_KKRAlamedaAggregatorLPMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">KKR Alameda Aggregator L.P.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_KKRAlamedaAggregatorLPMember" xlink:href="tef-20221231.xsd#tef_KKRAlamedaAggregatorLPMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_KKRAlamedaAggregatorLPMember" xlink:to="lab_tef_KKRAlamedaAggregatorLPMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaCentroamericanaInversionesMember_e28cb3a4-75a9-467b-bda1-f9620f12b31a_verboseLabel_en-US" xlink:label="lab_tef_TelefonicaCentroamericanaInversionesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panama in Telef&#243;nica Centroam&#233;rica Inversiones, S.L.</link:label>
    <link:label id="lab_tef_TelefonicaCentroamericanaInversionesMember_label_en-US" xlink:label="lab_tef_TelefonicaCentroamericanaInversionesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Centroamericana Inversiones [Member]</link:label>
    <link:label id="lab_tef_TelefonicaCentroamericanaInversionesMember_documentation_en-US" xlink:label="lab_tef_TelefonicaCentroamericanaInversionesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Centroamericana Inversiones [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaCentroamericanaInversionesMember" xlink:href="tef-20221231.xsd#tef_TelefonicaCentroamericanaInversionesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaCentroamericanaInversionesMember" xlink:to="lab_tef_TelefonicaCentroamericanaInversionesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PaymentAgreementAxis_c1bc22a8-37c0-459d-aaeb-4889098f9237_terseLabel_en-US" xlink:label="lab_tef_PaymentAgreementAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment agreement [Axis]</link:label>
    <link:label id="lab_tef_PaymentAgreementAxis_label_en-US" xlink:label="lab_tef_PaymentAgreementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment agreement [Axis]</link:label>
    <link:label id="lab_tef_PaymentAgreementAxis_documentation_en-US" xlink:label="lab_tef_PaymentAgreementAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment agreement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PaymentAgreementAxis" xlink:href="tef-20221231.xsd#tef_PaymentAgreementAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PaymentAgreementAxis" xlink:to="lab_tef_PaymentAgreementAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_0dc51bfc-0552-42d3-b643-7c9e3fd8563f_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences and other</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_fd4ee6bb-ee3b-4057-8907-59b12ef58543_verboseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Translation differences</link:label>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (decrease) through net exchange differences, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_RegulationChangeAxis_f715c698-d69b-4e23-8161-591b73e8b880_terseLabel_en-US" xlink:label="lab_tef_RegulationChangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulation Change [Axis]</link:label>
    <link:label id="lab_tef_RegulationChangeAxis_label_en-US" xlink:label="lab_tef_RegulationChangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulation Change [Axis]</link:label>
    <link:label id="lab_tef_RegulationChangeAxis_documentation_en-US" xlink:label="lab_tef_RegulationChangeAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Regulation Change</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_RegulationChangeAxis" xlink:href="tef-20221231.xsd#tef_RegulationChangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_RegulationChangeAxis" xlink:to="lab_tef_RegulationChangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage_87047652-06f4-4a62-a96f-25a6183479b2_terseLabel_en-US" xlink:label="lab_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum number of shares to be delivered, compliance criteria (in percents)</link:label>
    <link:label id="lab_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage_label_en-US" xlink:label="lab_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum Number Of Shares To Be Delivered, Compliance Criteria, Percentage</link:label>
    <link:label id="lab_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage_documentation_en-US" xlink:label="lab_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum Number Of Shares To Be Delivered, Compliance Criteria, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" xlink:href="tef-20221231.xsd#tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" xlink:to="lab_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionalInformationAbstract_e24d51f4-56ac-4cfa-9401-e4fb9dbfb4a0_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionalInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional information [abstract]</link:label>
    <link:label id="lab_ifrs-full_AdditionalInformationAbstract_label_en-US" xlink:label="lab_ifrs-full_AdditionalInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional information [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionalInformationAbstract" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionalInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionalInformationAbstract" xlink:to="lab_ifrs-full_AdditionalInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_ActivationFeesMember_bf495607-7f8b-4e35-948c-c3d176c98aaf_terseLabel_en-US" xlink:label="lab_tef_ActivationFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contractual liabilities, activation fees</link:label>
    <link:label id="lab_tef_ActivationFeesMember_label_en-US" xlink:label="lab_tef_ActivationFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Activation Fees [Member]</link:label>
    <link:label id="lab_tef_ActivationFeesMember_documentation_en-US" xlink:label="lab_tef_ActivationFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Activation Fees [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ActivationFeesMember" xlink:href="tef-20221231.xsd#tef_ActivationFeesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ActivationFeesMember" xlink:to="lab_tef_ActivationFeesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_4edf0a3b-ea0c-4dd2-8036-04f40a070b29_terseLabel_en-US" xlink:label="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_label_en-US" xlink:label="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Identifiable intangible assets recognised as of acquisition date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="lab_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NonCurrentProvisionsForDefinedBenefitPlans_587836b7-ea0b-4be1-9524-eab335f5e16f_terseLabel_en-US" xlink:label="lab_tef_NonCurrentProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Post-employment defined benefit plans</link:label>
    <link:label id="lab_tef_NonCurrentProvisionsForDefinedBenefitPlans_label_en-US" xlink:label="lab_tef_NonCurrentProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-Current Provisions For Defined Benefit Plans</link:label>
    <link:label id="lab_tef_NonCurrentProvisionsForDefinedBenefitPlans_documentation_en-US" xlink:label="lab_tef_NonCurrentProvisionsForDefinedBenefitPlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-Current Provisions For Defined Benefit Plans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NonCurrentProvisionsForDefinedBenefitPlans" xlink:href="tef-20221231.xsd#tef_NonCurrentProvisionsForDefinedBenefitPlans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NonCurrentProvisionsForDefinedBenefitPlans" xlink:to="lab_tef_NonCurrentProvisionsForDefinedBenefitPlans" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_JuanIgnacioCiracSasturainMember_5532d60d-d2fb-4580-9428-795d53a1073e_terseLabel_en-US" xlink:label="lab_tef_JuanIgnacioCiracSasturainMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mr. Juan Ignacio Cirac Sasturain</link:label>
    <link:label id="lab_tef_JuanIgnacioCiracSasturainMember_label_en-US" xlink:label="lab_tef_JuanIgnacioCiracSasturainMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Juan Ignacio Cirac Sasturain [Member]</link:label>
    <link:label id="lab_tef_JuanIgnacioCiracSasturainMember_documentation_en-US" xlink:label="lab_tef_JuanIgnacioCiracSasturainMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Juan Ignacio Cirac Sasturain [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_JuanIgnacioCiracSasturainMember" xlink:href="tef-20221231.xsd#tef_JuanIgnacioCiracSasturainMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_JuanIgnacioCiracSasturainMember" xlink:to="lab_tef_JuanIgnacioCiracSasturainMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates_0f193d71-621c-4da5-8805-72e57c0fec0e_terseLabel_en-US" xlink:label="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Growth rate for medical costs</link:label>
    <link:label id="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates_label_en-US" xlink:label="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Actuarial assumption of medical cost trend rates</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:to="lab_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BETernaMember_acd122cc-523e-4d4c-ad27-e87c4fa44cc2_terseLabel_en-US" xlink:label="lab_tef_BETernaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-terna</link:label>
    <link:label id="lab_tef_BETernaMember_label_en-US" xlink:label="lab_tef_BETernaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-Terna [Member]</link:label>
    <link:label id="lab_tef_BETernaMember_documentation_en-US" xlink:label="lab_tef_BETernaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BE-Terna</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BETernaMember" xlink:href="tef-20221231.xsd#tef_BETernaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_BETernaMember" xlink:to="lab_tef_BETernaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_72cbacb1-e34c-431a-ad63-b807ce96ad70_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaAudiovisualDigitalSLUMember_3d2cbfbc-1b66-498b-8fd3-188c60aa9467_terseLabel_en-US" xlink:label="lab_tef_TelefonicaAudiovisualDigitalSLUMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Audiovisual Digital, S.L.U. Provision of all type of audiovisual telecommunications services</link:label>
    <link:label id="lab_tef_TelefonicaAudiovisualDigitalSLUMember_label_en-US" xlink:label="lab_tef_TelefonicaAudiovisualDigitalSLUMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Audiovisual Digital, SLU [Member]</link:label>
    <link:label id="lab_tef_TelefonicaAudiovisualDigitalSLUMember_documentation_en-US" xlink:label="lab_tef_TelefonicaAudiovisualDigitalSLUMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Audiovisual Digital, SLU [Member]</link:label>
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    <link:label id="lab_tef_BondQMember_79139844-e10b-4110-ac84-3d917aa6e682_terseLabel_en-US" xlink:label="lab_tef_BondQMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond Q</link:label>
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    <link:label id="lab_tef_BondQMember_documentation_en-US" xlink:label="lab_tef_BondQMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond K [Member]</link:label>
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    <link:label id="lab_tef_AuditorNameDomain_4481130a-7f73-4dc7-a57f-0aa30a7b6706_terseLabel_en-US" xlink:label="lab_tef_AuditorNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Name [Domain]</link:label>
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    <link:label id="lab_tef_AuditorNameDomain_documentation_en-US" xlink:label="lab_tef_AuditorNameDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Domain] for Auditor Name [Axis]</link:label>
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    <link:label id="lab_tef_IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement_c9b32fc9-df7b-4657-a114-99158dd0d820_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfer to the income statement of the period - the hedged item has affected profit or loss</link:label>
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    <link:label id="lab_ifrs-full_Borrowings_0746b8a3-140b-4ce4-aa44-f13448461f4e_totalLabel_en-US" xlink:label="lab_ifrs-full_Borrowings" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total Issues</link:label>
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    <link:label id="lab_ifrs-full_Borrowings_bc07847b-14c2-48a0-badc-edbe6fc58140_verboseLabel_en-US" xlink:label="lab_ifrs-full_Borrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings</link:label>
    <link:label id="lab_ifrs-full_Borrowings_label_en-US" xlink:label="lab_ifrs-full_Borrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Borrowings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Borrowings" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Borrowings"/>
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    <link:label id="lab_tef_DisclosureOfSignificantAccountingPoliciesAbstract_2ae39c3b-beee-445a-98f6-d1d8a6a10008_terseLabel_en-US" xlink:label="lab_tef_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure Of Significant Accounting Policies [Abstract]</link:label>
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    <link:label id="lab_tef_DataCentersMember_a3a1df1c-4ff2-4d0d-af1f-3d9a0375f914_terseLabel_en-US" xlink:label="lab_tef_DataCentersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred collection sale of T. Ireland</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfProvisionsAxis_64c19553-924f-433a-bfad-cd5f2d47f94b_terseLabel_en-US" xlink:label="lab_ifrs-full_ClassesOfProvisionsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Classes of other provisions [axis]</link:label>
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    <link:label id="lab_tef_EMTNGBP10082029400GBPMember_9b245f67-1d70-4e70-8403-c76ef108df13_terseLabel_en-US" xlink:label="lab_tef_EMTNGBP10082029400GBPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EMTN GBP 10/08/2029 400 GBP</link:label>
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    <link:label id="lab_tef_LegalDepositsMember_e55b0026-25d5-4f90-b18a-a71ea3532afc_terseLabel_en-US" xlink:label="lab_tef_LegalDepositsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal deposits</link:label>
    <link:label id="lab_tef_LegalDepositsMember_label_en-US" xlink:label="lab_tef_LegalDepositsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Deposits [Member]</link:label>
    <link:label id="lab_tef_LegalDepositsMember_documentation_en-US" xlink:label="lab_tef_LegalDepositsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Deposits [Member]</link:label>
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    <link:label id="lab_ifrs-full_PastDueStatusMember_812c0233-8f23-4ac0-9c75-248c0f4f3150_terseLabel_en-US" xlink:label="lab_ifrs-full_PastDueStatusMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Past due status [member]</link:label>
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    <link:label id="lab_tef_NetBorrowingsIncludingAdjustmentsMember_documentation_en-US" xlink:label="lab_tef_NetBorrowingsIncludingAdjustmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Borrowings, Including Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NetBorrowingsIncludingAdjustmentsMember" xlink:href="tef-20221231.xsd#tef_NetBorrowingsIncludingAdjustmentsMember"/>
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    <link:label id="lab_tef_SustainableLoanMember_aa7cb0b3-07c1-4060-9999-c7b59e488d9e_terseLabel_en-US" xlink:label="lab_tef_SustainableLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sustainable Loan</link:label>
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    <link:label id="lab_tef_LibertyGlobalAndInfraViaMember_a8570d3b-af9a-4669-8909-a5640188c63e_terseLabel_en-US" xlink:label="lab_tef_LibertyGlobalAndInfraViaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liberty Global And InfraVia</link:label>
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    <link:label id="lab_tef_FairValueOfInvestmentsInJointVentures_bb78f331-1dcc-497a-9e90-6ed55e8fe378_terseLabel_en-US" xlink:label="lab_tef_FairValueOfInvestmentsInJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair value of 50% of VMO2 (Note 10)</link:label>
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    <link:label id="lab_tef_Reversalofdeferredtaxassets_d9a7c9c0-2788-4d47-8ca7-f4359406cde9_terseLabel_en-US" xlink:label="lab_tef_Reversalofdeferredtaxassets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal of deferred tax assets</link:label>
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    <link:label id="lab_tef_Reversalofdeferredtaxassets_documentation_en-US" xlink:label="lab_tef_Reversalofdeferredtaxassets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal of deferred tax assets</link:label>
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    <link:label id="lab_tef_TelefonicaServiciosAudiovisualesMember_90d5ef6d-0488-4371-855d-ae30cf85c712_terseLabel_en-US" xlink:label="lab_tef_TelefonicaServiciosAudiovisualesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Servicios Audiovisuales [Member]</link:label>
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    <link:label id="lab_tef_TelefonicaServiciosAudiovisualesMember_documentation_en-US" xlink:label="lab_tef_TelefonicaServiciosAudiovisualesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Servicios Audiovisuales [Member]</link:label>
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    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered_d21863eb-986d-4864-8b6c-041c979d0d6f_terseLabel_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of employees registered</link:label>
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    <link:label id="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered_documentation_en-US" xlink:label="lab_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number Of Employees Registered</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered" xlink:href="tef-20221231.xsd#tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered"/>
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    <link:label id="lab_tef_O2NetworksMember_35ce5c08-5887-4d2d-97f8-3c2e35f23f39_terseLabel_en-US" xlink:label="lab_tef_O2NetworksMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Networks</link:label>
    <link:label id="lab_tef_O2NetworksMember_label_en-US" xlink:label="lab_tef_O2NetworksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Networks [Member]</link:label>
    <link:label id="lab_tef_O2NetworksMember_documentation_en-US" xlink:label="lab_tef_O2NetworksMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">O2 Networks [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_O2NetworksMember" xlink:href="tef-20221231.xsd#tef_O2NetworksMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_O2NetworksMember" xlink:to="lab_tef_O2NetworksMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NumberOfRenewableEnergyPlantsPlanned_b5bb571a-d5f1-4880-9d79-f6e2756c0962_terseLabel_en-US" xlink:label="lab_tef_NumberOfRenewableEnergyPlantsPlanned" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of renewable energy plants planned</link:label>
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    <link:label id="lab_tef_NumberOfRenewableEnergyPlantsPlanned_documentation_en-US" xlink:label="lab_tef_NumberOfRenewableEnergyPlantsPlanned" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Renewable Energy Plants Planned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NumberOfRenewableEnergyPlantsPlanned" xlink:href="tef-20221231.xsd#tef_NumberOfRenewableEnergyPlantsPlanned"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_NumberOfRenewableEnergyPlantsPlanned" xlink:to="lab_tef_NumberOfRenewableEnergyPlantsPlanned" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdditionalProvisionsOtherProvisions_c5ddfeee-420b-4964-a1a8-c3b61860dcfb_terseLabel_en-US" xlink:label="lab_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_AdditionalProvisionsOtherProvisions_423664ff-dd2b-42c3-9815-257224298f20_verboseLabel_en-US" xlink:label="lab_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Movements with a counterparty in judicial deposits</link:label>
    <link:label id="lab_ifrs-full_AdditionalProvisionsOtherProvisions_label_en-US" xlink:label="lab_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional provisions, other provisions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdditionalProvisionsOtherProvisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:to="lab_ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_NetRepatriationOfFunds_2efdfb0f-6219-471e-83a8-534e64822a07_terseLabel_en-US" xlink:label="lab_tef_NetRepatriationOfFunds" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net repatriation of funds to Spain</link:label>
    <link:label id="lab_tef_NetRepatriationOfFunds_label_en-US" xlink:label="lab_tef_NetRepatriationOfFunds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Repatriation Of Funds</link:label>
    <link:label id="lab_tef_NetRepatriationOfFunds_documentation_en-US" xlink:label="lab_tef_NetRepatriationOfFunds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Repatriation Of Funds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_NetRepatriationOfFunds" xlink:href="tef-20221231.xsd#tef_NetRepatriationOfFunds"/>
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    <link:label id="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered_f2ac9c31-57c8-4e95-9e68-9a049f57c398_terseLabel_en-US" xlink:label="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum number of shares allocated to be delivered (in shares)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered" xlink:href="tef-20221231.xsd#tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered" xlink:to="lab_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_BondOMember_ba4fd535-53c6-4630-b9d0-ed2bc6b24bae_terseLabel_en-US" xlink:label="lab_tef_BondOMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond O</link:label>
    <link:label id="lab_tef_BondOMember_label_en-US" xlink:label="lab_tef_BondOMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond O [Member]</link:label>
    <link:label id="lab_tef_BondOMember_documentation_en-US" xlink:label="lab_tef_BondOMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond O</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_BondOMember" xlink:href="tef-20221231.xsd#tef_BondOMember"/>
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    <link:label id="lab_tef_ShortTermDepositsAndGuaranteesMinimumMaturity_1a5cb8bd-38b3-4eb2-9543-af56d949b8d3_terseLabel_en-US" xlink:label="lab_tef_ShortTermDepositsAndGuaranteesMinimumMaturity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Minimum maturity of short-term deposits and guarantees</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_ShortTermDepositsAndGuaranteesMinimumMaturity" xlink:href="tef-20221231.xsd#tef_ShortTermDepositsAndGuaranteesMinimumMaturity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_ShortTermDepositsAndGuaranteesMinimumMaturity" xlink:to="lab_tef_ShortTermDepositsAndGuaranteesMinimumMaturity" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_COP_21ff5837-e669-4d8a-8c5b-b06cb2856ec9_terseLabel_en-US" xlink:label="lab_currency_COP" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombian peso</link:label>
    <link:label id="lab_currency_COP_06f500be-9e1f-4263-9c56-23016a420dd7_verboseLabel_en-US" xlink:label="lab_currency_COP" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">COP</link:label>
    <link:label id="lab_currency_COP_label_en-US" xlink:label="lab_currency_COP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colombia, Pesos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_COP" xlink:href="https://xbrl.sec.gov/currency/2022/currency-2022.xsd#currency_COP"/>
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    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems_521ac4c1-fa40-4b5c-a662-1e4e2c883eba_terseLabel_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of other provisions [line items]</link:label>
    <link:label id="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems_label_en-US" xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of other provisions [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DisclosureOfOtherProvisionsLineItems" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DisclosureOfOtherProvisionsLineItems"/>
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    <link:label id="lab_tef_NumberOfEmployeesRecognisedAsOfAcquisitionDate_ba42b7b7-a3bc-418f-8e06-dd7da231fdc5_terseLabel_en-US" xlink:label="lab_tef_NumberOfEmployeesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of employees recognised as of acquisition date</link:label>
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    <link:label id="lab_tef_NumberOfEmployeesRecognisedAsOfAcquisitionDate_documentation_en-US" xlink:label="lab_tef_NumberOfEmployeesRecognisedAsOfAcquisitionDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number Of Employees Recognised As Of Acquisition Date</link:label>
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    <link:label id="lab_dei_ContactPersonnelEmailAddress_d9f456bc-ccc5-4d25-9863-c0bcb9635509_terseLabel_en-US" xlink:label="lab_dei_ContactPersonnelEmailAddress" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contact Personnel Email Address</link:label>
    <link:label id="lab_dei_ContactPersonnelEmailAddress_label_en-US" xlink:label="lab_dei_ContactPersonnelEmailAddress" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contact Personnel Email Address</link:label>
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    <link:label id="lab_tef_BilateralLoanDueMarch242025Member_88850b75-b930-4e42-a982-0b6e58cb2217_terseLabel_en-US" xlink:label="lab_tef_BilateralLoanDueMarch242025Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan due March 24, 2025</link:label>
    <link:label id="lab_tef_BilateralLoanDueMarch242025Member_label_en-US" xlink:label="lab_tef_BilateralLoanDueMarch242025Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan due March 24, 2025 [Member]</link:label>
    <link:label id="lab_tef_BilateralLoanDueMarch242025Member_documentation_en-US" xlink:label="lab_tef_BilateralLoanDueMarch242025Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bilateral Loan due March 24, 2025</link:label>
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    <link:label id="lab_tef_LegofDerivativeContractDomain_1ce8251b-f80e-4977-b3c1-27ff420bc7d6_terseLabel_en-US" xlink:label="lab_tef_LegofDerivativeContractDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leg of Derivative Contract [Domain]</link:label>
    <link:label id="lab_tef_LegofDerivativeContractDomain_label_en-US" xlink:label="lab_tef_LegofDerivativeContractDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leg of Derivative Contract [Domain]</link:label>
    <link:label id="lab_tef_LegofDerivativeContractDomain_documentation_en-US" xlink:label="lab_tef_LegofDerivativeContractDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">[Domain] for Leg of Derivative Contract [Axis]</link:label>
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    <link:label id="lab_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities_07470884-cc0d-4b6c-bbf7-4fa78eedb9c6_terseLabel_en-US" xlink:label="lab_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions</link:label>
    <link:label id="lab_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities_label_en-US" xlink:label="lab_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase through business combinations, contract liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities"/>
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    <link:label id="lab_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards_1aafaf1e-d2fa-45c7-a743-67e0125cd0a0_terseLabel_en-US" xlink:label="lab_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal of deferred tax assets for tax loss carryforwards</link:label>
    <link:label id="lab_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards_label_en-US" xlink:label="lab_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal Of Deferred Tax Assets For Tax Loss Carryforwards</link:label>
    <link:label id="lab_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards_documentation_en-US" xlink:label="lab_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reversal Of Deferred Tax Assets For Tax Loss Carryforwards</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards" xlink:href="tef-20221231.xsd#tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards"/>
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    <link:label id="lab_tef_TelefonicaDeCostaRicaMember_d32c992e-311c-49ba-8b0d-9dd3ceab3cde_terseLabel_en-US" xlink:label="lab_tef_TelefonicaDeCostaRicaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica de Costa Rica TC, S.A.</link:label>
    <link:label id="lab_tef_TelefonicaDeCostaRicaMember_label_en-US" xlink:label="lab_tef_TelefonicaDeCostaRicaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica De Costa Rica [Member]</link:label>
    <link:label id="lab_tef_TelefonicaDeCostaRicaMember_documentation_en-US" xlink:label="lab_tef_TelefonicaDeCostaRicaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica de Costa Rica [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TelefonicaDeCostaRicaMember" xlink:href="tef-20221231.xsd#tef_TelefonicaDeCostaRicaMember"/>
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    <link:label id="lab_tef_TaxDisputeLongTermIndirectTaxesReceivable_c6dc492b-ea7d-4611-a701-ed9de9d959b2_terseLabel_en-US" xlink:label="lab_tef_TaxDisputeLongTermIndirectTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Brazil VAT tax dispute, long-term indirect taxes receivable recorded</link:label>
    <link:label id="lab_tef_TaxDisputeLongTermIndirectTaxesReceivable_label_en-US" xlink:label="lab_tef_TaxDisputeLongTermIndirectTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Dispute, Long-Term Indirect Taxes Receivable</link:label>
    <link:label id="lab_tef_TaxDisputeLongTermIndirectTaxesReceivable_documentation_en-US" xlink:label="lab_tef_TaxDisputeLongTermIndirectTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tax Dispute, Long-Term Indirect Taxes Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TaxDisputeLongTermIndirectTaxesReceivable" xlink:href="tef-20221231.xsd#tef_TaxDisputeLongTermIndirectTaxesReceivable"/>
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    <link:label id="lab_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset_00d829a1-1f46-48ef-b09a-7d012d004c59_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposals</link:label>
    <link:label id="lab_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset_label_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Loss Of Control Of Subsidiary, Deferred Tax Asset</link:label>
    <link:label id="lab_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Loss Of Control Of Subsidiary, Deferred Tax Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset"/>
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    <link:label id="lab_ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember_ded02896-d09e-4f4a-8774-8fc2ed3a9e79_terseLabel_en-US" xlink:label="lab_ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net investment hedges</link:label>
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    <link:label id="lab_ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember_label_en-US" xlink:label="lab_ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedges of net investment in foreign operations [member]</link:label>
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    <link:label id="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_e965f0f8-5a7f-4221-aa64-09a1de634d9b_terseLabel_en-US" xlink:label="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Between 90 and 180 days</link:label>
    <link:label id="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember_label_en-US" xlink:label="lab_ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Later than three months and not later than six months [member]</link:label>
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    <link:label id="lab_ifrs-full_ContractLiabilities_a4e392b9-fcf5-40fd-9f7d-f8e24de498dc_periodStartLabel_en-US" xlink:label="lab_ifrs-full_ContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contract liabilities, beginning balance</link:label>
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    <link:label id="lab_ifrs-full_ContractLiabilities_label_en-US" xlink:label="lab_ifrs-full_ContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contract liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ContractLiabilities" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ContractLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ContractLiabilities" xlink:to="lab_ifrs-full_ContractLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DilutedEarningsLossPerShare_08fc39bb-aa78-40a8-a1ab-a0d07f28346d_terseLabel_en-US" xlink:label="lab_ifrs-full_DilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Diluted earnings per share (in euros per share)</link:label>
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    <link:label id="lab_ifrs-full_ConsiderationPaidReceived_25a1b17a-dd9d-4cf2-b271-00a6e8b1adcd_negatedTerseLabel_en-US" xlink:label="lab_ifrs-full_ConsiderationPaidReceived" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration received</link:label>
    <link:label id="lab_ifrs-full_ConsiderationPaidReceived_2a911ba6-53f1-489e-a315-ea5cc274d55e_terseLabel_en-US" xlink:label="lab_ifrs-full_ConsiderationPaidReceived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration paid (received)</link:label>
    <link:label id="lab_ifrs-full_ConsiderationPaidReceived_label_en-US" xlink:label="lab_ifrs-full_ConsiderationPaidReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Consideration paid (received)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ConsiderationPaidReceived" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ConsiderationPaidReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ConsiderationPaidReceived" xlink:to="lab_ifrs-full_ConsiderationPaidReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashEquivalents_de5889bc-73f1-4ef8-81b2-2221aadb656a_terseLabel_en-US" xlink:label="lab_ifrs-full_CashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other cash equivalents</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashEquivalents" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashEquivalents"/>
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    <link:label id="lab_tef_BondT.Peru6thProgram17thSeriesAMember_615b3be4-2a9f-4104-a92d-ddcc4cfd775e_terseLabel_en-US" xlink:label="lab_tef_BondT.Peru6thProgram17thSeriesAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bond T. Peru 6th Program (17th Serie A)</link:label>
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    <link:label id="lab_tef_WholesalersMobileHandsetsSalesAndOthersMember_cf20185a-129a-4318-9b23-5d83468266a0_terseLabel_en-US" xlink:label="lab_tef_WholesalersMobileHandsetsSalesAndOthersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wholesalers, mobile handsets sales and others</link:label>
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    <link:label id="lab_tef_WholesalersMobileHandsetsSalesAndOthersMember_documentation_en-US" xlink:label="lab_tef_WholesalersMobileHandsetsSalesAndOthersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Wholesalers, mobile handsets sales and others</link:label>
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    <link:label id="lab_ifrs-full_SharebasedPaymentArrangementsMember_6c2986ef-7592-4a80-a785-833d746c53e5_terseLabel_en-US" xlink:label="lab_ifrs-full_SharebasedPaymentArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based payment arrangements [member]</link:label>
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    <link:label id="lab_ifrs-full_RightofuseAssets_c1df2c0f-cfda-4d9d-b70b-bbddedf40398_terseLabel_en-US" xlink:label="lab_ifrs-full_RightofuseAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rights of use</link:label>
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    <link:label id="lab_tef_TerminalGrowthRateMember_17ed90ab-cca0-40c1-9b27-32b630bf536c_terseLabel_en-US" xlink:label="lab_tef_TerminalGrowthRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Terminal Growth Rate</link:label>
    <link:label id="lab_tef_TerminalGrowthRateMember_label_en-US" xlink:label="lab_tef_TerminalGrowthRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Terminal Growth Rate [Member]</link:label>
    <link:label id="lab_tef_TerminalGrowthRateMember_documentation_en-US" xlink:label="lab_tef_TerminalGrowthRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Terminal Growth Rate [Member]</link:label>
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    <link:label id="lab_tef_RegulatoryOperationsPeriodofEstablishedOperatorsandaSymmetricTerminationRate_df2b5f6c-79cc-45c8-ba96-020f15cda34a_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsPeriodofEstablishedOperatorsandaSymmetricTerminationRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Period of established operators and a symmetric termination rate</link:label>
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    <link:label id="lab_tef_RegulatoryOperationsSymmetricTerminationRatePerMinute_155bf6f0-789d-40f4-8259-bd1fa32a39d6_terseLabel_en-US" xlink:label="lab_tef_RegulatoryOperationsSymmetricTerminationRatePerMinute" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Symmetric termination rate (COP per minute)</link:label>
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    <link:label id="lab_tef_ProportionofInterconnectionRevenuesContingentLiabilities_368f263e-1508-4906-82ce-25a3e483a5b0_terseLabel_en-US" xlink:label="lab_tef_ProportionofInterconnectionRevenuesContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of interconnection revenues from contingent legal claim</link:label>
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    <link:label id="lab_tef_PowerPurchaseAgreementEnergyMeasurePerYearRenewable_a451056d-1a7e-4475-a018-dc9a2ee68f63_terseLabel_en-US" xlink:label="lab_tef_PowerPurchaseAgreementEnergyMeasurePerYearRenewable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Power purchase agreement, energy measure per year, renewable (in GWh)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_tef_PowerPurchaseAgreementEnergyMeasurePerYearRenewable" xlink:href="tef-20221231.xsd#tef_PowerPurchaseAgreementEnergyMeasurePerYearRenewable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PowerPurchaseAgreementEnergyMeasurePerYearRenewable" xlink:to="lab_tef_PowerPurchaseAgreementEnergyMeasurePerYearRenewable" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects_4b638262-cd19-4dfe-b430-d2c61287e92b_totalLabel_en-US" xlink:label="lab_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share</link:label>
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    <link:label id="lab_tef_TelefonicaLatinoamericaHoldingMember_8ff4cfcc-fd6f-4a21-9892-393266705c38_terseLabel_en-US" xlink:label="lab_tef_TelefonicaLatinoamericaHoldingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telef&#243;nica Latinoam&#233;rica Holding, S.L. Sociedad holding</link:label>
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    <link:label id="lab_tef_IncreaseDecreaseThroughTransfersContractLiabilities_185f61df-5002-4e9d-95ef-c9693f56865d_terseLabel_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughTransfersContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transfers</link:label>
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    <link:label id="lab_tef_IncreaseDecreaseThroughTransfersContractLiabilities_documentation_en-US" xlink:label="lab_tef_IncreaseDecreaseThroughTransfersContractLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) Through Transfers, Contract Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_IncreaseDecreaseThroughTransfersContractLiabilities" xlink:href="tef-20221231.xsd#tef_IncreaseDecreaseThroughTransfersContractLiabilities"/>
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    <link:label id="lab_tef_Blackrockinc.Member_1e8fda5b-c5b0-4bd4-8043-e14c2ae11180_terseLabel_en-US" xlink:label="lab_tef_Blackrockinc.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Blackrock inc.</link:label>
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    <link:label id="lab_tef_Blackrockinc.Member_documentation_en-US" xlink:label="lab_tef_Blackrockinc.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Blackrock inc. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_Blackrockinc.Member" xlink:href="tef-20221231.xsd#tef_Blackrockinc.Member"/>
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    <link:label id="lab_tef_BONDR144AMember_ce52052d-2619-4081-8cff-7409af69a3f7_terseLabel_en-US" xlink:label="lab_tef_BONDR144AMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BOND R144-A</link:label>
    <link:label id="lab_tef_BONDR144AMember_label_en-US" xlink:label="lab_tef_BONDR144AMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BOND R144-A [Member]</link:label>
    <link:label id="lab_tef_BONDR144AMember_documentation_en-US" xlink:label="lab_tef_BONDR144AMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">BOND R144-A [Member]</link:label>
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    <link:label id="lab_tef_TitleOfIndividualWithRelationshipToEntity1Domain_35976215-bd3e-46a6-9a56-79cddfb22430_terseLabel_en-US" xlink:label="lab_tef_TitleOfIndividualWithRelationshipToEntity1Domain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Title Of Individual With Relationship To Entity 1 [Domain]</link:label>
    <link:label id="lab_tef_TitleOfIndividualWithRelationshipToEntity1Domain_label_en-US" xlink:label="lab_tef_TitleOfIndividualWithRelationshipToEntity1Domain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Title Of Individual With Relationship To Entity 1 [Domain]</link:label>
    <link:label id="lab_tef_TitleOfIndividualWithRelationshipToEntity1Domain_documentation_en-US" xlink:label="lab_tef_TitleOfIndividualWithRelationshipToEntity1Domain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Title Of Individual With Relationship To Entity 1 [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_TitleOfIndividualWithRelationshipToEntity1Domain" xlink:href="tef-20221231.xsd#tef_TitleOfIndividualWithRelationshipToEntity1Domain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TitleOfIndividualWithRelationshipToEntity1Domain" xlink:to="lab_tef_TitleOfIndividualWithRelationshipToEntity1Domain" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_BondsIssued_693340da-3d4b-490c-955c-f4b8ca2645a3_terseLabel_en-US" xlink:label="lab_ifrs-full_BondsIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bonds issued</link:label>
    <link:label id="lab_ifrs-full_BondsIssued_336f47ab-696e-4904-9dbc-c904eab26714_verboseLabel_en-US" xlink:label="lab_ifrs-full_BondsIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debentures and bonds issued</link:label>
    <link:label id="lab_ifrs-full_BondsIssued_label_en-US" xlink:label="lab_ifrs-full_BondsIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Bonds issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_BondsIssued" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_BondsIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BondsIssued" xlink:to="lab_ifrs-full_BondsIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember_025a3c2f-e262-4fc7-ae17-1b87209f5929_terseLabel_en-US" xlink:label="lab_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil, S.A. &amp; FiBrasil Infraestructura e Fibra Otica S.A.</link:label>
    <link:label id="lab_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember_label_en-US" xlink:label="lab_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil, S.A. And FiBrasil Infraestructura E Fibra Otica S.A. [Member]</link:label>
    <link:label id="lab_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember_documentation_en-US" xlink:label="lab_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Telefonica Brasil, S.A. And FiBrasil Infraestructura E Fibra Otica S.A.</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember" xlink:to="lab_tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_HedgingDesignation1Axis_70cf9298-f3b7-4c05-b8dc-7b41e3b92b6e_terseLabel_en-US" xlink:label="lab_tef_HedgingDesignation1Axis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:label id="lab_tef_HedgingDesignation1Axis_label_en-US" xlink:label="lab_tef_HedgingDesignation1Axis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging Designation1 [Axis]</link:label>
    <link:label id="lab_tef_HedgingDesignation1Axis_documentation_en-US" xlink:label="lab_tef_HedgingDesignation1Axis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hedging Designation1 [Axis]</link:label>
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    <link:label id="lab_tef_CreditDerivativesToTotalPercentage_f8d0e743-c896-49ce-9ca1-a59d457151df_terseLabel_en-US" xlink:label="lab_tef_CreditDerivativesToTotalPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Derivatives, To Total , Percentage</link:label>
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    <link:label id="lab_tef_CreditDerivativesToTotalPercentage_documentation_en-US" xlink:label="lab_tef_CreditDerivativesToTotalPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Derivatives, To Total , Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_CreditDerivativesToTotalPercentage" xlink:href="tef-20221231.xsd#tef_CreditDerivativesToTotalPercentage"/>
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    <link:label id="lab_tef_OtherCurrenciesMember_28a64b10-e074-466d-b313-db0dd9ab3745_terseLabel_en-US" xlink:label="lab_tef_OtherCurrenciesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other currencies</link:label>
    <link:label id="lab_tef_OtherCurrenciesMember_label_en-US" xlink:label="lab_tef_OtherCurrenciesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Currencies [Member]</link:label>
    <link:label id="lab_tef_OtherCurrenciesMember_documentation_en-US" xlink:label="lab_tef_OtherCurrenciesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Currencies [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherCurrenciesMember" xlink:to="lab_tef_OtherCurrenciesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PremiumofTenderOfferofEquityInstrument_b122cf0b-4898-4de8-b7c5-bb78ce6ee64b_terseLabel_en-US" xlink:label="lab_tef_PremiumofTenderOfferofEquityInstrument" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Premium of tender offer</link:label>
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    <link:label id="lab_tef_PremiumofTenderOfferofEquityInstrument_documentation_en-US" xlink:label="lab_tef_PremiumofTenderOfferofEquityInstrument" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Premium of Tender Offer of Equity Instrument</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PremiumofTenderOfferofEquityInstrument" xlink:to="lab_tef_PremiumofTenderOfferofEquityInstrument" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_PercentageOfFemaleEmployees_8a7e8606-e258-43f6-816e-15ff4f17674d_terseLabel_en-US" xlink:label="lab_tef_PercentageOfFemaleEmployees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage of female employees</link:label>
    <link:label id="lab_tef_PercentageOfFemaleEmployees_label_en-US" xlink:label="lab_tef_PercentageOfFemaleEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Female Employees</link:label>
    <link:label id="lab_tef_PercentageOfFemaleEmployees_documentation_en-US" xlink:label="lab_tef_PercentageOfFemaleEmployees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Percentage Of Female Employees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_PercentageOfFemaleEmployees" xlink:href="tef-20221231.xsd#tef_PercentageOfFemaleEmployees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_PercentageOfFemaleEmployees" xlink:to="lab_tef_PercentageOfFemaleEmployees" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_OtherCompaniesMember_a972ffa8-c842-45b4-8101-fa184e1c4545_terseLabel_en-US" xlink:label="lab_tef_OtherCompaniesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Others</link:label>
    <link:label id="lab_tef_OtherCompaniesMember_label_en-US" xlink:label="lab_tef_OtherCompaniesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Companies [Member]</link:label>
    <link:label id="lab_tef_OtherCompaniesMember_documentation_en-US" xlink:label="lab_tef_OtherCompaniesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Companies [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_tef_OtherCompaniesMember" xlink:href="tef-20221231.xsd#tef_OtherCompaniesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_tef_OtherCompaniesMember" xlink:to="lab_tef_OtherCompaniesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_tef_Indirectparticipationpercentage_28d164cb-9f4d-4b6f-8d15-b9314b1a4e37_terseLabel_en-US" xlink:label="lab_tef_Indirectparticipationpercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proportion of indirect participation (as a percent)</link:label>
    <link:label id="lab_tef_Indirectparticipationpercentage_label_en-US" xlink:label="lab_tef_Indirectparticipationpercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indirect participation percentage</link:label>
    <link:label id="lab_tef_Indirectparticipationpercentage_documentation_en-US" xlink:label="lab_tef_Indirectparticipationpercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indirect participation percentage</link:label>
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<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788490608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cover Page<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentRegistrationStatement', window );">Document Registration Statement</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentAnnualReport', window );">Document Annual Report</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentShellCompanyReport', window );">Document Shell Company Report</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-09531<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">TELEF&#211;NICA, S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">U3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Distrito Telef&#243;nica<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Ronda de la Comunicaci&#243;n<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine3', window );">Entity Address, Address Line Three</a></td>
<td class="text">s/n<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">28050<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Madrid<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">ES<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">5,775,237,554<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_IcfrAuditorAttestationFlag', window );">ICFR Auditor Attestation Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentAccountingStandard', window );">Document Accounting Standard</a></td>
<td class="text">International Financial Reporting Standards<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000814052<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Ordinary Shares, nominal value 1.00 euro per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_NoTradingSymbolFlag', window );">No Trading Symbol Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_AmericanDepositarySharesMember', window );">American depositary shares</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">American Depositary Shares, each representing oneOrdinary Share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2027Member', window );">Senior notes due 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$1,500,000,000 Fixed Rate Senior Notes Due 2027<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF/27<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_GuaranteedSeniorNotesDue2036Member', window );">Guaranteed senior notes due 2036</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$2,000,000,000 Fixed Rate Guaranteed Senior Notes Due 2036<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF/36<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2038Member', window );">Senior notes due 2038</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$750,000,000 Fixed Rate Senior Notes Due 2038<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF/38<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2047Member', window );">Senior notes due 2047</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$2,500,000,000 Fixed Rate Senior Notes Due 2047<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF/47<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2048Member', window );">Senior notes due 2048</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$1,250,000,000 Fixed Rate Senior Notes Due 2048<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF/48<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2049Member', window );">Senior notes due 2049</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$1,250,000,000 Fixed Rate Senior Notes Due 2049<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF/49<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=tef_GuaranteedSeniorNotesDue2030Member', window );">Guaranteed senior notes due 2030</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">$1,250,000,000 Fixed Rate Guaranteed Senior Notes Due 2030<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TEF/30<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember', window );">Business contact</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Distrito Telef&#243;nica<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Ronda de la Comunicaci&#243;n<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine3', window );">Entity Address, Address Line Three</a></td>
<td class="text">s/n<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">28050<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Madrid<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">ES<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">91<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">482 3733<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelName', window );">Contact Personnel Name</a></td>
<td class="text">Consuelo Barb&#233; Capdevila<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelFaxNumber', window );">Contact Personnel Fax Number</a></td>
<td class="text">+34 91 482 3817<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelEmailAddress', window );">Contact Personnel Email Address</a></td>
<td class="text">amv@telefonica.com<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressesAddressTypeAxis=tef_BusinessContact2Member', window );">Business contact 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Distrito Telef&#243;nica<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Ronda de la Comunicaci&#243;n<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine3', window );">Entity Address, Address Line Three</a></td>
<td class="text">s/n<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">28050<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Madrid<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">ES<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">91<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">482 8700<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelName', window );">Contact Personnel Name</a></td>
<td class="text">Adri&#225;n Zunzunegui Ruano<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelFaxNumber', window );">Contact Personnel Fax Number</a></td>
<td class="text">+34 91 482 8600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_ContactPersonnelEmailAddress', window );">Contact Personnel Email Address</a></td>
<td class="text">ir@telefonica.com<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelEmailAddress">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Email address of contact personnel.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelEmailAddress</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelFaxNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fax Number of contact personnel.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelFaxNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of contact personnel</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAccountingStandard">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAccountingStandard</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:accountingStandardItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAnnualReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an annual report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAnnualReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentRegistrationStatement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a registration statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentRegistrationStatement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentShellCompanyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentShellCompanyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 3 such as an Office Park</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_IcfrAuditorAttestationFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_IcfrAuditorAttestationFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_NoTradingSymbolFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a security having no trading symbol.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_NoTradingSymbolFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:trueItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_AmericanDepositarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_AmericanDepositarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2027Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2027Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_GuaranteedSeniorNotesDue2036Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_GuaranteedSeniorNotesDue2036Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2038Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2038Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2047Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2047Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2048Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2048Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2049Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_SeniorNotesDue2049Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=tef_GuaranteedSeniorNotesDue2030Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=tef_GuaranteedSeniorNotesDue2030Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressesAddressTypeAxis=tef_BusinessContact2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressesAddressTypeAxis=tef_BusinessContact2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489801081104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Audit Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditInformationAbstract', window );"><strong>Audit Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorFirmId', window );">Auditor Firm ID</a></td>
<td class="text">1306<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorName', window );">Auditor Name</a></td>
<td class="text">PricewaterhouseCoopers Auditores, S.L.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AuditorLocation', window );">Auditor Location</a></td>
<td class="text">Madrid, Spain<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorFirmId">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>PCAOB issued Audit Firm Identifier</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorFirmId</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:nonemptySequenceNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorLocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorLocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AuditorName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AuditorName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:internationalNameItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AuditInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Audit Information</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AuditInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489792045520">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Financial Position - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">NON-CURRENT ASSETS</a></td>
<td class="nump">&#8364; 87,053<span></span>
</td>
<td class="nump">&#8364; 84,284<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">12,017<span></span>
</td>
<td class="nump">11,725<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">18,471<span></span>
</td>
<td class="nump">16,519<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">23,714<span></span>
</td>
<td class="nump">22,725<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">11,587<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">8,101<span></span>
</td>
<td class="nump">7,347<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">CURRENT ASSETS</a></td>
<td class="nump">22,589<span></span>
</td>
<td class="nump">24,929<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="nump">1,546<span></span>
</td>
<td class="nump">1,749<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">9,134<span></span>
</td>
<td class="nump">8,287<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Tax receivables</a></td>
<td class="nump">2,213<span></span>
</td>
<td class="nump">2,120<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">7,245<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">358<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">109,642<span></span>
</td>
<td class="nump">109,213<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilitiesAbstract', window );"><strong>EQUITY AND LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">EQUITY</a></td>
<td class="nump">31,708<span></span>
</td>
<td class="nump">28,684<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Equity attributable to equity holders of the parent and other holders of equity instruments</a></td>
<td class="nump">25,088<span></span>
</td>
<td class="nump">22,207<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Equity attributable to non-controlling interests</a></td>
<td class="nump">6,620<span></span>
</td>
<td class="nump">6,477<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non current liabilities</a></td>
<td class="nump">54,834<span></span>
</td>
<td class="nump">55,034<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">35,059<span></span>
</td>
<td class="nump">35,290<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">6,657<span></span>
</td>
<td class="nump">6,391<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">3,546<span></span>
</td>
<td class="nump">3,089<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="nump">2,602<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisions', window );">Non-current provisions</a></td>
<td class="nump">6,505<span></span>
</td>
<td class="nump">7,662<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">23,100<span></span>
</td>
<td class="nump">25,495<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">4,020<span></span>
</td>
<td class="nump">7,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">2,020<span></span>
</td>
<td class="nump">1,679<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">13,509<span></span>
</td>
<td class="nump">13,210<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Current tax payables</a></td>
<td class="nump">1,920<span></span>
</td>
<td class="nump">2,026<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentProvisions', window );">Current provisions</a></td>
<td class="nump">1,631<span></span>
</td>
<td class="nump">1,441<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">134<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">TOTAL EQUITY AND LIABILITIES</a></td>
<td class="nump">&#8364; 109,642<span></span>
</td>
<td class="nump">&#8364; 109,213<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.
Effective 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current provisions, including provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph l<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph n<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph n<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph r<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 36<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B16&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities included in disposal groups classified as held for sale. [Refer: Liabilities; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 38<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph p<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_p&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2022-03-24<br> -Paragraph 22<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph q<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale or as held for distribution to owners. [Refer: Non-current assets or disposal groups classified as held for distribution to owners; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions, including provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph l<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentPayablesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Payables And Other Current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentPayablesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentReceivablesAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Receivables And Other Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentReceivablesAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Financial Assets And Other Non-Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Noncurrent Payables And Other Non-current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NoncurrentPayablesAndOtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793227104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Income Statements - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeStatementAbstract', window );"><strong>Profit or loss [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">&#8364; 39,993<span></span>
</td>
<td class="nump">&#8364; 39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other income</a></td>
<td class="nump">2,065<span></span>
</td>
<td class="nump">12,673<span></span>
</td>
<td class="nump">1,587<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RawMaterialsAndConsumablesUsed', window );">Supplies</a></td>
<td class="num">(12,941)<span></span>
</td>
<td class="num">(12,258)<span></span>
</td>
<td class="num">(13,014)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Personnel expenses</a></td>
<td class="num">(5,524)<span></span>
</td>
<td class="num">(6,733)<span></span>
</td>
<td class="num">(5,280)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Other expenses</a></td>
<td class="num">(10,741)<span></span>
</td>
<td class="num">(10,976)<span></span>
</td>
<td class="num">(12,871)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="num">(8,796)<span></span>
</td>
<td class="num">(8,397)<span></span>
</td>
<td class="num">(9,359)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="nump">4,056<span></span>
</td>
<td class="nump">13,586<span></span>
</td>
<td class="nump">4,139<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="nump">217<span></span>
</td>
<td class="num">(127)<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="nump">1,803<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="nump">677<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeGain', window );">Exchange gains</a></td>
<td class="nump">2,910<span></span>
</td>
<td class="nump">2,801<span></span>
</td>
<td class="nump">3,847<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance costs</a></td>
<td class="num">(3,030)<span></span>
</td>
<td class="num">(2,028)<span></span>
</td>
<td class="num">(2,417)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Exchange losses</a></td>
<td class="num">(2,996)<span></span>
</td>
<td class="num">(2,751)<span></span>
</td>
<td class="num">(3,665)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetFinancialExpense', window );">Net financial expense</a></td>
<td class="num">(1,313)<span></span>
</td>
<td class="num">(1,364)<span></span>
</td>
<td class="num">(1,558)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">PROFIT BEFORE TAX</a></td>
<td class="nump">2,960<span></span>
</td>
<td class="nump">12,095<span></span>
</td>
<td class="nump">2,583<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Corporate income tax</a></td>
<td class="num">(641)<span></span>
</td>
<td class="num">(1,378)<span></span>
</td>
<td class="num">(626)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">PROFIT FOR THE YEAR</a></td>
<td class="nump">2,319<span></span>
</td>
<td class="nump">10,717<span></span>
</td>
<td class="nump">1,957<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Attributable to equity holders of the parent</a></td>
<td class="nump">2,011<span></span>
</td>
<td class="nump">8,137<span></span>
</td>
<td class="nump">1,582<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Attributable to non-controlling interests</a></td>
<td class="nump">&#8364; 308<span></span>
</td>
<td class="nump">&#8364; 2,580<span></span>
</td>
<td class="nump">&#8364; 375<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic earnings per share (in euros per share)</a></td>
<td class="nump">&#8364; 0.31<span></span>
</td>
<td class="nump">&#8364; 1.34<span></span>
</td>
<td class="nump">&#8364; 0.22<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted earnings per share (in euros per share)</a></td>
<td class="nump">&#8364; 0.31<span></span>
</td>
<td class="nump">&#8364; 1.34<span></span>
</td>
<td class="nump">&#8364; 0.22<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeGain">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net gain arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeGain</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net loss arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByNature">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByNature</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2022-03-24<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RawMaterialsAndConsumablesUsed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of raw materials and consumables used in the production process or in the rendering of services. [Refer: Current raw materials]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RawMaterialsAndConsumablesUsed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39M<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NetFinancialExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net Financial Expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NetFinancialExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791763520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatementOfComprehensiveIncomeAbstract', window );"><strong>Statement of comprehensive income [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">&#8364; 2,319<span></span>
</td>
<td class="nump">&#8364; 10,717<span></span>
</td>
<td class="nump">&#8364; 1,957<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive (loss) income</a></td>
<td class="nump">1,908<span></span>
</td>
<td class="nump">4,557<span></span>
</td>
<td class="num">(7,305)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax', window );">Gains (losses) from financial assets measured at Fair value through other comprehensive income</a></td>
<td class="num">(29)<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome', window );">Income tax impact</a></td>
<td class="nump">9<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets', window );">Other comprehensive income (loss), available-for-sale investments, net of tax</a></td>
<td class="num">(20)<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax', window );">Gains (losses) on hedges</a></td>
<td class="nump">1,081<span></span>
</td>
<td class="nump">1,593<span></span>
</td>
<td class="num">(765)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome', window );">Income tax impact</a></td>
<td class="num">(282)<span></span>
</td>
<td class="num">(395)<span></span>
</td>
<td class="nump">183<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax', window );">Reclassification of (gains) losses included in the income statement (Note 19)</a></td>
<td class="num">(704)<span></span>
</td>
<td class="num">(1,874)<span></span>
</td>
<td class="nump">963<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedges', window );">Income tax impact</a></td>
<td class="nump">181<span></span>
</td>
<td class="nump">478<span></span>
</td>
<td class="num">(250)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Other comprehensive income, hedges, net of tax</a></td>
<td class="nump">276<span></span>
</td>
<td class="num">(198)<span></span>
</td>
<td class="nump">131<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainslossesoncashflowhedgescostsbeforetax', window );">Gains (losses) on hedges costs</a></td>
<td class="num">(59)<span></span>
</td>
<td class="nump">128<span></span>
</td>
<td class="num">(98)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome', window );">Income tax impact</a></td>
<td class="nump">15<span></span>
</td>
<td class="num">(32)<span></span>
</td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Reclassificationadjustmentsoncashflowhedgescostsbeforetax', window );">Reclassification of (gains) losses included in the income statement (Note 19)</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedgesCosts', window );">Income tax impact</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Othercomprehensiveincomenetoftaxcashflowhedgescosts', window );">Other comprehensive income, hedges costs, net of tax</a></td>
<td class="num">(51)<span></span>
</td>
<td class="nump">89<span></span>
</td>
<td class="num">(80)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareOfGainsLossesRecognizedDirectlyInEquityOfAssociatesAndOthers', window );">Share of gains (losses) recognized directly in equity of associates and others (Note 10)</a></td>
<td class="nump">65<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeTaxRelatingToShareOfGainsLossesRecognizedDirectlyInEquityOfAssociatesAndOthers', window );">Income tax impact</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">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</a></td>
<td class="nump">65<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Translation differences (Note 17)</a></td>
<td class="nump">1,562<span></span>
</td>
<td class="nump">4,098<span></span>
</td>
<td class="num">(7,236)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax', window );">Total other comprehensive income (loss) recognized for the year that may be reclassified subsequently to profit or loss</a></td>
<td class="nump">1,832<span></span>
</td>
<td class="nump">4,022<span></span>
</td>
<td class="num">(7,184)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans</a></td>
<td class="nump">102<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome', window );">Income tax impact</a></td>
<td class="num">(32)<span></span>
</td>
<td class="num">(35)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Reclassificationadjustmentsonremeasurementsofdefinedbenefitplansbeforetax', window );">Reclassification to reserve actuarial losses (gains) and impact of limit on assets for defined benefit pension plans (Note 2)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">392<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans, net of tax</a></td>
<td class="nump">70<span></span>
</td>
<td class="nump">487<span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation', window );">Gains (losses) from financial assets measured at fair value through comprehensive income</a></td>
<td class="nump">42<span></span>
</td>
<td class="nump">49<span></span>
</td>
<td class="num">(141)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome', window );">Income tax impact</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="num">(13)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax', window );">Reclassification to reserve of gains (losses) from financial assets measured at fair value through comprehensive income (Note 12)</a></td>
<td class="nump">71<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">(Losses) gains from financial assets measured at fair value through comprehensive income, net of tax</a></td>
<td class="nump">113<span></span>
</td>
<td class="nump">48<span></span>
</td>
<td class="num">(154)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="num">(107)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax', window );">Total other comprehensive income (loss) recognized for the year that will not be reclassified subsequently to profit or loss</a></td>
<td class="nump">76<span></span>
</td>
<td class="nump">535<span></span>
</td>
<td class="num">(121)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="nump">4,227<span></span>
</td>
<td class="nump">15,274<span></span>
</td>
<td class="num">(5,348)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Attributable to:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Equity holders of the parent and other holders of equity instruments</a></td>
<td class="nump">3,519<span></span>
</td>
<td class="nump">12,652<span></span>
</td>
<td class="num">(4,286)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="nump">&#8364; 708<span></span>
</td>
<td class="nump">&#8364; 2,622<span></span>
</td>
<td class="num">&#8364; (1,062)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
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<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on cash flow hedges, before tax, before reclassification adjustments. [Refer: Cash flow hedges [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_23_c&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on remeasuring available-for-sale financial assets, before tax, before reclassification adjustments. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_91_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnRemeasuringAvailableforsaleFinancialAssetsBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to available-for-sale financial assets. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph ab<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_81_ab&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 90<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_90&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph ab<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 90<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to changes in a revaluation surplus of property, plant and equipment, right-of-use assets and intangible assets. [Refer: Revaluation surplus; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph ab<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 90<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to remeasurements of defined benefit plans. [Refer: Other comprehensive income; Reserve of remeasurements of defined benefit plans; Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph ab<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 90<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)] [Contrast: Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, before tax, related to gains (losses) in relation to changes in the revaluation surplus of property, plant and equipment, right-of-use assets and intangible assets. [Refer: Other comprehensive income, before tax; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to available-for-sale financial assets. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_91_a&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_7&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)] [Contrast: Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) in relation to changes in the revaluation surplus of property, plant and equipment, right-of-use assets and intangible assets. [Refer: Other comprehensive income; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph IG6<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will not be reclassified to profit or loss, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph IG6<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of reclassification adjustments related to cash flow hedges, before tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_23_d&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 92<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_92&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of reclassification adjustments related to financial assets measured at fair value through other comprehensive income, before tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Financial assets measured at fair value through other comprehensive income; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph a<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20_a_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 92<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_92&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReclassificationAdjustmentsOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeBeforeTax</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share of the other comprehensive income of associates and joint ventures accounted for using the equity method that will be reclassified to profit or loss, net of tax.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share of the other comprehensive income of associates and joint ventures accounted for using the equity method that will not be reclassified to profit or loss, net of tax.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatementOfComprehensiveIncomeAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Gainslossesoncashflowhedgescostsbeforetax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gains (losses) on cash flow hedges costs, before tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Gainslossesoncashflowhedgescostsbeforetax</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncomeTaxRelatingToShareOfGainsLossesRecognizedDirectlyInEquityOfAssociatesAndOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Tax Relating To Share Of Gains (Losses) Recognized Directly In Equity Of Associates And Others</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxRelatingToShareOfGainsLossesRecognizedDirectlyInEquityOfAssociatesAndOthers</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Tax Relating to Reclassification of Gains (Losses) on Cash Flow Hedges</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedges</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedgesCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Tax Relating to Reclassification of Gains (Losses) on Cash Flow Hedges Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxRelatingtoReclassificationofGainsLossesonCashFlowHedgesCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income tax relating to cash flow hedges costs included in other comprehensive income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Incometaxrelatingtocashflowhedgescostsincludedinothercomprehensiveincome</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other comprehensive income, net of tax, cash flow hedges costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Othercomprehensiveincomenetoftaxcashflowhedgescosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Reclassificationadjustmentsoncashflowhedgescostsbeforetax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reclassification adjustments on cash flow hedges costs, before tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Reclassificationadjustmentsoncashflowhedgescostsbeforetax</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reclassification adjustments on remeasurements of defined benefit plans, before tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Reclassificationadjustmentsonremeasurementsofdefinedbenefitplansbeforetax</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareOfGainsLossesRecognizedDirectlyInEquityOfAssociatesAndOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share Of Gains (Losses) Recognized Directly In Equity Of Associates And Others</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareOfGainsLossesRecognizedDirectlyInEquityOfAssociatesAndOthers</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788220368">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Share capital</div></th>
<th class="th"><div>Share premium</div></th>
<th class="th"><div>Treasury Shares</div></th>
<th class="th"><div>Other equity instru-ments</div></th>
<th class="th"><div>Legal reser-ve</div></th>
<th class="th"><div>Retained earnings</div></th>
<th class="th"><div>Fair value finan-cial assets</div></th>
<th class="th"><div>Hedges</div></th>
<th class="th"><div>Equity of associa-tes and others</div></th>
<th class="th"><div>Translation differences</div></th>
<th class="th"><div>Non-controlling interests</div></th>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Financial position, beginning balance at Dec. 31, 2019</a></td>
<td class="nump">&#8364; 25,450<span></span>
</td>
<td class="nump">&#8364; 17,118<span></span>
</td>
<td class="nump">&#8364; 5,192<span></span>
</td>
<td class="nump">&#8364; 4,538<span></span>
</td>
<td class="num">&#8364; (766)<span></span>
</td>
<td class="nump">&#8364; 8,243<span></span>
</td>
<td class="nump">&#8364; 1,038<span></span>
</td>
<td class="nump">&#8364; 19,042<span></span>
</td>
<td class="num">&#8364; (444)<span></span>
</td>
<td class="nump">&#8364; 503<span></span>
</td>
<td class="nump">&#8364; 24<span></span>
</td>
<td class="num">&#8364; (20,252)<span></span>
</td>
<td class="nump">&#8364; 8,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">1,957<span></span>
</td>
<td class="nump">1,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">375<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (loss) for the year</a></td>
<td class="num">(7,305)<span></span>
</td>
<td class="num">(5,868)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23<span></span>
</td>
<td class="num">(153)<span></span>
</td>
<td class="nump">144<span></span>
</td>
<td class="num">(81)<span></span>
</td>
<td class="num">(5,801)<span></span>
</td>
<td class="num">(1,437)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="num">(5,348)<span></span>
</td>
<td class="num">(4,286)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,605<span></span>
</td>
<td class="num">(153)<span></span>
</td>
<td class="nump">144<span></span>
</td>
<td class="num">(81)<span></span>
</td>
<td class="num">(5,801)<span></span>
</td>
<td class="num">(1,062)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends and distribution of profit (Note 17)</a></td>
<td class="num">(1,230)<span></span>
</td>
<td class="num">(714)<span></span>
</td>
<td class="nump">334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,048)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(516)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Net movement in treasury shares</a></td>
<td class="num">(224)<span></span>
</td>
<td class="num">(224)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(195)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(29)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="nump">580<span></span>
</td>
<td class="nump">262<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">485<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(223)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">318<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities', window );">Undated deeply subordinated securities and notes mandatorily convertible&#160;(Note 17)</a></td>
<td class="num">(997)<span></span>
</td>
<td class="num">(955)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(693)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(335)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">73<span></span>
</td>
<td class="num">(42)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">29<span></span>
</td>
<td class="nump">34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Financial position, ending balance at Dec. 31, 2020</a></td>
<td class="nump">18,260<span></span>
</td>
<td class="nump">11,235<span></span>
</td>
<td class="nump">5,526<span></span>
</td>
<td class="nump">4,538<span></span>
</td>
<td class="num">(476)<span></span>
</td>
<td class="nump">7,550<span></span>
</td>
<td class="nump">1,038<span></span>
</td>
<td class="nump">19,046<span></span>
</td>
<td class="num">(597)<span></span>
</td>
<td class="nump">647<span></span>
</td>
<td class="num">(57)<span></span>
</td>
<td class="num">(25,980)<span></span>
</td>
<td class="nump">7,025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">10,717<span></span>
</td>
<td class="nump">8,137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,580<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (loss) for the year</a></td>
<td class="nump">4,557<span></span>
</td>
<td class="nump">4,515<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">465<span></span>
</td>
<td class="nump">50<span></span>
</td>
<td class="num">(209)<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="nump">4,088<span></span>
</td>
<td class="nump">42<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="nump">15,274<span></span>
</td>
<td class="nump">12,652<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,602<span></span>
</td>
<td class="nump">50<span></span>
</td>
<td class="num">(209)<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="nump">4,088<span></span>
</td>
<td class="nump">2,622<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends and distribution of profit (Note 17)</a></td>
<td class="num">(3,651)<span></span>
</td>
<td class="num">(600)<span></span>
</td>
<td class="nump">336<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(936)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,051)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Net movement in treasury shares</a></td>
<td class="num">(479)<span></span>
</td>
<td class="num">(479)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(459)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(20)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="num">(473)<span></span>
</td>
<td class="num">(354)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(354)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(119)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReductionOfIssuedCapital', window );">Capital reduction</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(83)<span></span>
</td>
<td class="num">(305)<span></span>
</td>
<td class="nump">388<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities', window );">Undated deeply subordinated securities and notes mandatorily convertible&#160;(Note 17)</a></td>
<td class="num">(263)<span></span>
</td>
<td class="num">(263)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(263)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Financial position, ending balance at Dec. 31, 2021</a></td>
<td class="nump">28,684<span></span>
</td>
<td class="nump">22,207<span></span>
</td>
<td class="nump">5,779<span></span>
</td>
<td class="nump">4,233<span></span>
</td>
<td class="num">(547)<span></span>
</td>
<td class="nump">7,550<span></span>
</td>
<td class="nump">1,038<span></span>
</td>
<td class="nump">26,091<span></span>
</td>
<td class="num">(547)<span></span>
</td>
<td class="nump">438<span></span>
</td>
<td class="nump">64<span></span>
</td>
<td class="num">(21,892)<span></span>
</td>
<td class="nump">6,477<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="nump">2,319<span></span>
</td>
<td class="nump">2,011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">308<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (loss) for the year</a></td>
<td class="nump">1,908<span></span>
</td>
<td class="nump">1,508<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48<span></span>
</td>
<td class="nump">98<span></span>
</td>
<td class="nump">287<span></span>
</td>
<td class="num">(94)<span></span>
</td>
<td class="nump">1,169<span></span>
</td>
<td class="nump">400<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income (loss) for the year</a></td>
<td class="nump">4,227<span></span>
</td>
<td class="nump">3,519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,059<span></span>
</td>
<td class="nump">98<span></span>
</td>
<td class="nump">287<span></span>
</td>
<td class="num">(94)<span></span>
</td>
<td class="nump">1,169<span></span>
</td>
<td class="nump">708<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends and distribution of profit (Note 17)</a></td>
<td class="num">(1,478)<span></span>
</td>
<td class="num">(1,067)<span></span>
</td>
<td class="nump">135<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="num">(1,223)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(411)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Net movement in treasury shares</a></td>
<td class="num">(364)<span></span>
</td>
<td class="num">(364)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(342)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(22)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="nump">781<span></span>
</td>
<td class="nump">936<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">936<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(155)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReductionOfIssuedCapital', window );">Capital reduction</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(139)<span></span>
</td>
<td class="num">(409)<span></span>
</td>
<td class="nump">548<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities', window );">Undated deeply subordinated securities and notes mandatorily convertible&#160;(Note 17)</a></td>
<td class="num">(201)<span></span>
</td>
<td class="num">(201)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(201)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">59<span></span>
</td>
<td class="nump">58<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">58<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Financial position, ending balance at Dec. 31, 2022</a></td>
<td class="nump">&#8364; 31,708<span></span>
</td>
<td class="nump">&#8364; 25,088<span></span>
</td>
<td class="nump">&#8364; 5,775<span></span>
</td>
<td class="nump">&#8364; 3,824<span></span>
</td>
<td class="num">&#8364; (341)<span></span>
</td>
<td class="nump">&#8364; 7,550<span></span>
</td>
<td class="nump">&#8364; 1,059<span></span>
</td>
<td class="nump">&#8364; 27,698<span></span>
</td>
<td class="num">&#8364; (449)<span></span>
</td>
<td class="nump">&#8364; 725<span></span>
</td>
<td class="num">&#8364; (30)<span></span>
</td>
<td class="num">&#8364; (20,723)<span></span>
</td>
<td class="nump">&#8364; 6,620<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 107<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the equity of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from treasury share transactions. [Refer: Equity; Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReductionOfIssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in equity resulting from a reduction in issued capital. [Refer: Issued capital]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReductionOfIssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Undated Deeply Subordinated Securities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughUndatedDeeplySubordinatedSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788306544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatementOfCashFlowsAbstract', window );"><strong>Statement of cash flows [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReceiptsFromOperations', window );">Cash received from operations</a></td>
<td class="nump">&#8364; 46,925<span></span>
</td>
<td class="nump">&#8364; 46,415<span></span>
</td>
<td class="nump">&#8364; 51,353<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsForOperations', window );">Cash paid from operations</a></td>
<td class="num">(34,778)<span></span>
</td>
<td class="num">(34,379)<span></span>
</td>
<td class="num">(36,477)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived', window );">Net payments of interest and other financial expenses net of dividends received</a></td>
<td class="num">(292)<span></span>
</td>
<td class="num">(1,309)<span></span>
</td>
<td class="num">(1,171)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities', window );">Taxes (paid)/proceeds</a></td>
<td class="num">(92)<span></span>
</td>
<td class="num">(459)<span></span>
</td>
<td class="num">(509)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash flow provided by operating activities</a></td>
<td class="nump">11,763<span></span>
</td>
<td class="nump">10,268<span></span>
</td>
<td class="nump">13,196<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet', window );">(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets</a></td>
<td class="num">(5,508)<span></span>
</td>
<td class="num">(6,164)<span></span>
</td>
<td class="num">(7,020)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="num">(115)<span></span>
</td>
<td class="nump">13,369<span></span>
</td>
<td class="nump">81<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="num">(1,628)<span></span>
</td>
<td class="num">(414)<span></span>
</td>
<td class="num">(79)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents', window );">Proceeds on financial investments not included under cash equivalents</a></td>
<td class="nump">2,967<span></span>
</td>
<td class="nump">2,163<span></span>
</td>
<td class="nump">2,308<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents', window );">Payments on financial investments not included under cash equivalents</a></td>
<td class="num">(2,575)<span></span>
</td>
<td class="num">(1,474)<span></span>
</td>
<td class="num">(3,297)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTemporaryFinancialInstruments', window );">Net proceeds/(payments) for temporary financial investments</a></td>
<td class="nump">1,532<span></span>
</td>
<td class="num">(1,584)<span></span>
</td>
<td class="nump">217<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash flow used in investing activities</a></td>
<td class="num">(5,327)<span></span>
</td>
<td class="nump">5,896<span></span>
</td>
<td class="num">(7,790)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">(1,397)<span></span>
</td>
<td class="num">(3,630)<span></span>
</td>
<td class="num">(1,296)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from share capital increase with minority interest</a></td>
<td class="nump">1,022<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">323<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations', window );">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</a></td>
<td class="num">(555)<span></span>
</td>
<td class="num">(604)<span></span>
</td>
<td class="num">(223)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CashFlowsFromOperationsWithOtherEquityHolders', window );">Operations with other equity holders</a></td>
<td class="num">(268)<span></span>
</td>
<td class="num">(354)<span></span>
</td>
<td class="num">(1,020)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds on issue of debentures and bonds and other debts</a></td>
<td class="nump">1,746<span></span>
</td>
<td class="nump">561<span></span>
</td>
<td class="nump">4,011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">839<span></span>
</td>
<td class="nump">3,085<span></span>
</td>
<td class="nump">4,516<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBondsNotesAndDebentures', window );">Repayments of debentures and bonds and other debts</a></td>
<td class="num">(3,541)<span></span>
</td>
<td class="num">(5,847)<span></span>
</td>
<td class="num">(6,728)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="num">(3,077)<span></span>
</td>
<td class="num">(4,146)<span></span>
</td>
<td class="num">(2,852)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashOutflowForLeases', window );">Lease principal payments</a></td>
<td class="num">(1,996)<span></span>
</td>
<td class="num">(1,782)<span></span>
</td>
<td class="num">(1,787)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities', window );">Financed operating payments and investments in property, plant and equipment and intangible assets payments</a></td>
<td class="num">(698)<span></span>
</td>
<td class="num">(273)<span></span>
</td>
<td class="num">(382)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash used in financing activities</a></td>
<td class="num">(7,925)<span></span>
</td>
<td class="num">(12,990)<span></span>
</td>
<td class="num">(5,438)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of changes in exchange rates</a></td>
<td class="nump">156<span></span>
</td>
<td class="num">(179)<span></span>
</td>
<td class="num">(402)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CashReclassifiedtoAssetsHeldforSale', window );">Cash reclassified to assets held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(7)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EffectOfChangesInConsolidationMethodsAndOthersOnCashAndCashEquivalents', window );">Effect of changes in consolidation methods and others</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(12)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Net increase (decrease) in cash and cash equivalents during the year</a></td>
<td class="num">(1,335)<span></span>
</td>
<td class="nump">2,976<span></span>
</td>
<td class="num">(438)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD</a></td>
<td class="nump">8,580<span></span>
</td>
<td class="nump">5,604<span></span>
</td>
<td class="nump">6,042<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD</a></td>
<td class="nump">7,245<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="nump">5,604<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReconciliationOfCashAndCashEquivalentsWithTheStatementOfFinancialPositionAbstract', window );"><strong>RECONCILIATION OF CASH AND CASH EQUIVALENTS WITH THE STATEMENTS OF FINANCIAL POSITION</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">CASH AND CASH EQUIVALENTS TOTAL</a></td>
<td class="nump">7,245<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="nump">5,604<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Cash', window );">Cash on hand and at banks</a></td>
<td class="nump">6,653<span></span>
</td>
<td class="nump">7,353<span></span>
</td>
<td class="nump">4,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashEquivalents', window );">Other cash equivalents</a></td>
<td class="nump">&#8364; 592<span></span>
</td>
<td class="nump">&#8364; 1,227<span></span>
</td>
<td class="nump">&#8364; 1,004<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows arising from losing control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashOutflowForLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashOutflowForLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid by the entity, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded, classified as operating activities. [Refer: Income taxes paid (refund)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents after the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment of lease liabilities, classified as financing activities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatementOfCashFlowsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatementOfCashFlowsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash Flows From Operations With Other Equity Holders</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash Reclassified to Assets Held-for-Sale</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Effect Of Changes In Consolidation Methods And Others On Cash And Cash Equivalents</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments For Financial Investments Not Included Under Cash Equivalents</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments For Operations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments Of Interest And Other Financial Expenses, Net Of Dividends Received</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Financial Investments Not Included Under Cash Equivalents</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From (Payments For) Temporary Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From (Payments For) Treasury Shares And Other Shareholder Operations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From (Purchase Of) Property, Plant And Equipment And Intangible Assets, Classified As Investing Activities, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Receipts From Operations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reconciliation Of Cash And Cash Equivalents With The Statement Of Financial Position [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793862880">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Background and General Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GeneralInformationAboutFinancialStatementsAbstract', window );"><strong>General Information About Financial Statements [Abstract]</strong></a></td>
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<td class="text">Background and general information<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. and its subsidiaries and investees (hereinafter also referred to as Telef&#243;nica, the Company, the Telef&#243;nica Group or the Group) make up an integrated and diversified telecommunications group operating mainly in Europe and Latin America. The Group&#8217;s activity is centered around services of fixed and wireless telephony, broadband, Internet, data traffic, Pay TV and other digital services. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The parent company of the Group is Telef&#243;nica, S.A., a public limited company incorporated on April 19, 1924 for an indefinite period. Its registered office is at calle Gran V&#237;a 28, Madrid (Spain). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Appendix I lists the main companies composing the Telef&#243;nica Group, their corporate purpose, country, functional currency, share capital, the Group&#8217;s effective shareholding and their method of consolidation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group are detailed in Appendix VI. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements for the year ended December&#160;31, 2022 were approved by the Company&#8217;s Board of Directors at its meeting on February 22, 2023 for submission for approval at the General Shareholders&#8217; Meeting, which is expected to occur without modification.</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for general information about financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 51<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_51&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794067216">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CorporateInformationAndStatementOfIFRSComplianceAbstract', window );"><strong>Corporate Information And Statement Of IFRS Compliance [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory', window );">Basis of Presentation of the Consolidated Financial Statements</a></td>
<td class="text">Basis of presentation of the consolidated financial statements<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements were prepared from the accounting records of Telef&#243;nica, S.A. and each of the companies comprising the Telef&#243;nica 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 present fairly, in all material respects, the consolidated equity and financial position at December&#160;31, 2022, and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The euro is the Group&#8217;s reporting currency.&#160;The figures in these consolidated financial statements are expressed in million euros, unless indicated otherwise, and may therefore be rounded. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Materiality criteria </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group&#8217;s consolidated financial statements, taken as a whole, are concerned.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparative information and main changes in the consolidation scope </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For comparative purposes, the accompanying consolidated financial statements for 2022 include the figures for 2021, 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 2020.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2022 and 2021 (see Appendix I for a detailed description of the consolidation scope and the changes during the year) are as listed below.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exchange rates evolution</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.234%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variation of average exchange rate vs euro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 vs 2021</span></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><br/></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 vs 2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.4&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">New peruvian sol</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.7&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chilean peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.5&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.6&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.234%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variation of closing exchange rate vs euro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 vs 2021</span></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 vs 2020</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.5&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.3&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">New peruvian sol</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chilean peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.5&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.4&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, there was a positive impact on Equity attributable to equity holders of the Parent Company for translation differences amounting to 1,169 million euros (see Note 17.f), mainly due to the appreciation of the Brazilian real.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement between Telef&#243;nica and Liberty Global plc to combine their operating businesses in the UK</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2020, Telef&#243;nica reached an agreement with Liberty Global plc to combine into a 50-50 joint venture their operating businesses in the United Kingdom (O2 Holdings Ltd. and Virgin Media UK, respectively). On June 1, 2021 after obtaining the relevant regulatory approvals, consummation of the necessary recapitalization and satisfaction of other closing conditions, the closing of the transaction was carried out, resulting in the combination of both businesses into the joint venture called VMED O2 UK Limited ("VMO2"). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telefonica United Kingdom, which was fully consolidated within the Group, is excluded from the scope of consolidation from June 1, 2021 (Note 4). From that date, VMO2 is registered under the equity method (see notes 4 and 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The constitution of the joint venture resulted in a contribution of 5,376 million pounds sterling (equivalent to 6,234 million euros at  the transaction day) for Telefonica, of which 2,622 million pounds correspond to the cash payment to Telef&#243;nica to equalise ownership in the joint venture (including the post-completion adjustment, see Note 29.c) and 2,754 million pounds correspond to proceeds from recapitalization.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a consequence of this transaction, the Group   recognized a gain amounting to 4,460 million euros in &#8220;Other income&#8221; in 2021 (see Note 26), as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash received</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,234&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value of 50% of VMO2 (Note 10)</span></div></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,012&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less: carrying amount of Telefonica United Kingdom at June 1, 2021</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,937)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Liabilities assumed and other costs (see Note 29.c)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(441)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result before reclassification of translation differences and gains on hedges</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,868</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of translation differences included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,135)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of gains on hedges included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">727&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the accumulated actuarial losses of Telefonica United Kingdom amounting to 392 million euros were reclassified to retained earnings, with no effect in net equity. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement between Telxius Telecom and American Tower Corporation for the sale of its telecommunications towers divisions in Europe and Latin America</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 13, 2021 Telxius Telecom, S.A. (a company of the Telef&#243;nica 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).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreement established 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), fixing the respective closures after the corresponding regulatory authorizations. The agreement included the transfer to ATC of the towers that Telxius agreed to acquire from Telef&#243;nica Germany GmbH &amp; Co. under the agreement signed on June 8, 2020, both the towers acquired in the first phase on September 1, 2020 as well as the towers that were acquired in the second phase in August 2021.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 1, 2021, once the relevant regulatory approvals had been obtained in Spain and Germany, the closing of the sale of the telecommunication towers division located in Europe was carried out, for a total selling price of 6,346 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 3, 2021, the closing of the sale of the telecommunication towers division located in Latin America was carried out, for a selling price of 887 million euros. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 2, 2021, the closing of the sale to ATC of 4,080 sites that Telxius undertook to acquire from Telef&#243;nica Germany GmbH &amp; Co. OHG, under the second phase of the agreement reached between both parties on June 8, 2020 was carried out, which stated a total purchase price of 632 million euros. With the closing of this transaction, together with the sales of the telecommunications towers divisions in Europe and Latin America carried out in June, the sale process agreed between Telxius and ATC was finalized.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These transactions generated in 2021 a gain of 6,099 million euros registered in "Other income" (see Note 26), with the following breakdown:  </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.607%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:24.193%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Selling price</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,865</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less: carrying amount of net assets and transaction costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,729&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result before reclassification of translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,099</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result attributable to non-controlling shareholders</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,246)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result attributable to equity holders of the parent</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,691</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the closing of these transactions, the companies of the Europe and Latin Am&#233;rica towers divisions were excluded from the consolidation perimeter. The Telef&#243;nica Group operators maintained the leases agreements of the towers signed with the sold subsidiaries of Telxius. Consequently, as of the closing date of the transactions, rights of use and lease liabilities were recorded in the consolidated statement of financial position, amounting to 2,633 million euros (see Note 9) and 2,775 million euros (see Note 20), respectively. </span></div><div style="margin-bottom:9pt;margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Acquisition of mobile assets of Oi Group</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the Purchase Agreement for Acquisition of Unidade Produtiva Isolada (UPI) Mobile Assets of Oi Group took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of the company Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), to which the mobile assets of Oi Group assigned to Telef&#243;nica Brazil had been contributed, under the segregation plan stated in the Oi Agreement (see Note 29.c).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount, still subject to adjustments, of 5,373 million Brazilian reais (approximately 1,063 million euros at the exchange rate at such date), A payment of 4,885 million Brazilian reais (approximately 972 million euros) was made at closing of the transaction. The remaining amount, equivalent to 10% of the payment made on that date, is withheld subject to certain price adjustments and potential indemnification obligations contained in the Oi Agreement. The total consideration also includes 110 million Brazilian reais subject to the fulfilment of certain targets, and other costs amounting to 8 million Brazilian reais. Thus, the total consideration transferred amounted to 5,492 million Brazilian reais (1,093 million euros at the date of the closing of the transaction). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On the date of approval of these consolidated financial statements, the Company had already concluded the report for the allocation of the purchase price. The fair value assigned to Oi's licenses amounts to 520 million euros. The goodwill amounts to 676 million euros (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Agreement between Telef&#243;nica de Espa&#241;a and Telef&#243;nica Infra with Vauban Infrastructure Partners and Credit Agricole Assurance for the establishment of Bluevia</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2022, an agreement was reached between Telefonica de Espa&#241;a and Telefonica Infra with the consortium formed by Vauban Infrastructure Partners (Vauban) and Cr&#233;dit Agricole Assurances (CAA) for the establishment of a company, Bluevia Fibra, S.L. for the deployment and commercialization of a fiber to the home network mainly in rural areas in Spain.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 20, 2022 once the regulatory authorizations were obtained and after the fulfillment of the remaining agreed conditions, the transaction was completed.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consortium formed by CAA and Vauban has acquired 45% of the Company for a total amount of 1,021 million euros in cash, paid on the closing of the agreement (see Note 28). The transaction had no impact on the consolidated income statements of the Telef&#243;nica Group as it consisted on the sale of minority interest, with Telef&#243;nica retaining control over Bluevia. The impact of this transaction in equity attributable to equity holders of the parent was an increase of 986 million euros in "Retained earnings". In addition, there was in increase in equity attributable to non-controlling interest amounting to 23 million euros (see Note 17).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The difference between the tax value of the assets transferred to Bluevia and their carrying amount in the Group's consolidated annual accounts generated a deferred tax asset for deductible temporary differences amounting to 548 million euros (see Note 25).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Individual Suspension Plan</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2021, Telef&#243;nica Spain signed a Social Pact for Employment supported by the largest trade unions. Said Pact includes the Company&#8217;s differential commitments and is based on the following six lines of work: equality and diversity; new ways of working, flexibility and productivity; incorporation and retention of talent; reskilling and professional development; functional and geographical mobility; and a plan for the voluntary individual suspension of the employment relationship (the Individual Suspension Plan).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target audience of the Individual Suspension Plan are the employees turning 55 years or older in 2022 and with a seniority of more than 20 years. Maximum percentages of adhesion differ according to the areas. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The present value of the estimated payment flows resulting from the Plan resulted in expenses amounting to 1,382 million euros before taxes in 2021 (see Note 24), reflected in "Personnel expenses" to the Consolidated Financial Statements).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Impairment of goodwill of Telef&#243;nica del Per&#250;</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;, amounting to 393 million euros (see Note 7).</span></div><div style="margin-top:9pt"><span style="color:#1f497d;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">ANNEX 1</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acronym</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">State</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acre</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alagoas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amap&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amazonas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bahia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ceara</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distrito Federal</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Esp&#237;rito Santo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goi&#225;s</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Maranh&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Minas Gerais</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Par&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Para&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paran&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pernambuco</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Piau&#237;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio de Janeiro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Norte</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rond&#244;nia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Roraima</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Catarina</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">S&#227;o Paulo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sergipe</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tocantins</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Regions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">States &amp; towns<br/>included in the regions</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (City)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (Interior)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP -&#160;&#160;towns of sector 33 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ and ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG -&#160;&#160;towns of sector 3 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR and SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR - towns of sector 20 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS - towns of sector 30 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC, DF, GO, MS, MT, RO and TO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO - towns of sector 25 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7''</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS - towns of sector 22 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM, AP, MA, PA and RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA and SE</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL, CE, PB, PE, PI and RN</span></td></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sectors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GPLG -&#160;&#160;general plan of the licenses granted&#160;&#160;(geographic areas that correspond to the sectors)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - except towns included in sector 3</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - towns of&#160;&#160;Arapor&#227;, Ara&#250;jo, Campina Verde, Campo Florido, Campos Altos, Can&#225;lopis, Capin&#243;polis, Carmo do Parana&#237;ba, Carneirinhos, Centralina, Comendador Gomes, Concei&#231;&#227;o das Alagoas, C&#243;rrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhat&#227;, Ibiraci, Igaratinga, Iguatama, Indian&#243;polis, Ipia&#231;&#250;, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Par&#225; de Minas, Patos de Minas, Pedrin&#243;polis, Pequi, Perdig&#227;o, Pirajuba, Pitangui, Planura, Prata, Presidente Oleg&#225;rio, Rio Parana&#237;ba, Santa Juliana, Santa Vit&#243;ria, S&#227;o Francisco de Sales, S&#227;o Jos&#233; da Varginha, Tupaciguara, Uberaba, Uberl&#226;ndia, Uni&#227;o de Minas &amp; Vazante</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211;except&#160;&#160;towns included of sector 20</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211; towns of Londrina and Tamarana</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; except the town integrating of sector 22</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; town of Parana&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO and GO &#8211; except&#160;&#160;towns included in sector 25</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO &#8211; towns of Buriti Alegre, Cachoeira Dourada, Inaciol&#226;ndia, Itumbiara, Paranaiguara and S&#227;o Sim&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS &#8211; towns of Pelotas, Cap&#227;o do Le&#227;o, Morro Redondo and Turu&#231;u</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; except the towns included in sector 33</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">33</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; towns of Altin&#243;polis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, C&#225;ssia dos Coqueiros, Col&#244;mbia, Franca, Gua&#237;ra, Guar&#225;, Ipu&#227;, Ituverava, Jardin&#243;polis, Miguel&#243;polis, Morro Agudo, Nuporanga, Orl&#226;ndia, Ribeir&#227;o Corrente, Sales de Oliveira, Santa Cruz da Esperan&#231;a, Santo Ant&#244;nio da Alegria and S&#227;o Joaquim da Barra</span></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793947872">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfSignificantAccountingPoliciesAbstract', window );"><strong>Disclosure Of Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory', window );">Accounting Policies</a></td>
<td class="text">Accounting policies<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As stated in Note 2, the Group&#8217;s consolidated financial statements have been prepared in accordance with IFRSs and interpretations issued by the International Accounting Standards Board (IASB).  </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accordingly, only the most significant accounting policies used in preparing the accompanying consolidated financial statements, in light of the nature of the Group&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Hyperinflationary economies </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venezuela has been considered a hyperinflationary economy since 2009. 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, the Group maintains as a policy for the purposes of the consolidated financial statements the estimation of an exchange rate, known as synthetic exchange rate, that matches the progression of inflation and reflects the economic and financial position of the Group&#8217;s Venezuelan operations in a more accurate way.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The synthetic exchange rate is calculated considering the inflation rates that are published. On an annual basis, these rates are 174.3%, 686.4% and 2,959.8% for 2022, 2021 and 2020, respectively. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange rate used to translate inflation-adjusted bolivar-denominated items in the consolidated financial statements is the synthetic exchange rate as of the closing date of each reporting period, amounting to 45.18 digital bolivars per U.S. dollar, 16.47 digital bolivars per U.S. dollar and 2,094,405 bolivars per U.S. dollar as of December&#160;31, 2022, 2021 and 2020, respectively. In turn, the official reference exchange rate at December 31, 2022 was 17.489 VED/USD (4.597 VED/USD and 1,107,199VES/USD at December 31, 2021 and 2020, respectively). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The use of a synthetic exchange rate versus the official reference exchange rate does not have a significant impact given the contribution of Telef&#243;nica Venezolana to the consolidated financial position and to the Group's results and cash flows for the year.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2018 Argentina became a hyperinflationary economy. In order to restate its financial statements, the Company uses the series of indices defined by resolution JG No. 539/18 issued by the Federaci&#243;n Argentina de Consejos Profesionales de Ciencias Econ&#243;micas (FACPCE), based on the National Consumer Price Index (IPC) published by the Instituto Nacional de Estad&#237;stica y Censos (INDEC) of the Argentine Republic and the Wholesale Internal Price Index (IPIM) published by FACPCE. The cumulative index at December 31, 2022, 2021 and 2020 is 1,134.6%, 582.5% and 385.9%, respectively, while on an annual basis the index for 2022 is 95%</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(51% and 36% in 2021 and 2020, respectively). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange rate used to translate inflation-adjusted items denominated in Argentine pesos in the 2022 financial statements is the closing exchange rate as of December 31, 2022 which was 189.08 Argentine pesos per euro (116.37 and 103.23 Argentine pesos per euro at December 31, 2021 and 2020, respectively). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b) Translation methodology </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The income statements and statements of cash flows of the Telef&#243;nica Group&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Goodwill </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d) Intangible assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets are carried at acquisition or production cost, less any accumulated amortization or any accumulated impairment losses. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets are amortized on a straight-line basis according to the following: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Licenses granted to the Telef&#243;nica 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 Telef&#243;nica Group (&#8220;Service concession arrangements and licenses&#8221;) are amortized on a straight-line basis over the duration of related licenses from the moment commercial operation begins.  </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">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 4 and 14 years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Software is amortized on a straight-line basis over its useful life, generally estimated to be between <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzU1NTk_184e2ba0-1e54-472d-932c-0e02349a8eb6">two</span> and five years. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e) Property, plant and equipment </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment is carried at cost less any accumulated depreciation and any accumulated impairment in value. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest and other financial expenses incurred and directly attributable to the acquisition or construction of qualifying assets are capitalized. Qualifying assets for the Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group&#8217;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&#8217; 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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Years of estimated<br/>useful life</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buildings</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25  &#8211; 40</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5 &#8211;  25</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2  &#8211;  10</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">f) Impairment of non-current assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-current assets, including goodwill, intangible assets and investments in associates and joint ventures, 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&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">g) Lease agreements </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8211; discounted using the incremental borrowing rate at the start date of the lease.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Notably, 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).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">h) Investment in associates and joint arrangements </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">contributed and the fair value of the retained investment and the consideration received from disposal is recognized in full in profit or loss. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">i) Financial assets and liabilities </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financial Assets</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivative financial instruments and hedge accounting </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">j) Inventories </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MjU2_3d99399d-20c3-426f-9362-7c17d26654ec">thirty-six</span> months. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In-house produced programs and series and program titles are charged at the time of their broadcast or up to <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2OTkx_b3b45b16-ed34-4c35-bab4-6f8ef5179fda">thirty-six</span> 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. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">k) Pensions and other employee obligations </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">l) Revenues and expenses </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from calls carried on Telef&#243;nica&#8217;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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection revenues from fixed-wireless and wireless-fixed calls and other customer services are recognized in the period in which the calls are made. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the Group is in an intermediary position between a supplier/vendor and an end customer, it must determine if it is supplying the product or service as the principal in the transaction or if it is acting as an agent on behalf of the supplier (manufacturer, wholesaler). The distinction determines who controls the goods or services being provided and who has the primary obligation to satisfy the performance obligation. This assessment affects the timing and amount of revenue recognized in the financial statements, either on a gross basis as the principal or on a net basis as the agent, representing the margin earned by the Group for arranging the transaction between the principal and the customer. This is particularly relevant for the Group in connection with digital services such as streaming TV content and cloud-based software.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of our strategy, the Group has increased its use of renewable energy through power purchase agreements (PPAs) to purchase energy from sustainable sources, such as wind and solar. These contracts often have a long term and provide the Group with a mechanism to ensure the supply of green energy at fixed prices. When these arrangements involve physical delivery of electricity and are entered into for the purpose of receiving the energy for the entity&#8217;s expected purchase, sale or usage requirements (i.e. volume agreed does not exceed actual and expected power needs), the contract is for &#8220;own use&#8221; and is generally accounted for as power purchases or sales when the underlying transactions take place.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">m) Non-current assets held for sale</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8220;Non-current assets and disposal groups held for sale&#8221; and &#8220;Liabilities associated with non-current assets and disposal groups held for sale&#8221;. Once classified as held for sale property, plant and equipment and intangible assets (including right-of-use assets) are no longer depreciated or amortized. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">n) Use of estimates </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s results and financial position. Accordingly, sensitivity analysis are disclosed for the most relevant situations (see Notes 7 and 24). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Non-current assets and goodwill </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting treatment of investments in non-current assets such as property, plant and equipment, intangible assets and interests in associates and joint ventures, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Also, 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. The fair value assigned to the retained investment is determined on the basis of its business plan, including significant judgments when considering significant assumptions such as long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate which would be significantly affected by the future trends in the economic, competitive, regulatory and technological environment. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group evaluates its cash-generating units&#8217; performance on a regular basis to identify potential impairments of goodwill and other non-current assets. Determining the recoverable amount of the cash-generating units also entails the use of assumptions and estimates and requires a significant element of judgment. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred income taxes </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue recognition </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Bundled offers </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Determining standalone selling prices for each identified element requires estimates that are complex due to the nature of the business. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Leases </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting policies applied in the preparation of the consolidated financial statements for the year ended December&#160;31, 2022 are consistent with those used in the preparation of the Group&#8217;s consolidated annual financial statements for the year ended December&#160;31, 2021, with the exception of the following new standards and amendments to existing standards issued by the IASB, which are mandatory for annual periods beginning on or after January 1, 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The application of these amendments for the current reporting period did not have a significant impact on the consolidated financial statements of the Group. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amendments. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IAS 37: Costs of fulfilling a contract </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments to IAS 37 clarify that when assessing whether a contract is onerous, an entity needs to include all unavoidable costs that relate directly to a contract, including both incremental costs and an allocation of costs directly related to fulfilling contract activities. The Group applied the amendments to the contracts for which it had not fulfilled all of its obligations at the beginning of the reporting period</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IFRS 3: Reference to Conceptual Framework</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Minor amendments were made to update the references to the Conceptual Framework for Financial Reporting and to add an exception to the recognition principle in IFRS 3 Business Combinations regarding liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and Interpretation 21 Levies. The exception requires entities to apply the criteria in IAS 37 or IFRIC 21, respectively, instead of the Conceptual Framework, to determine whether a present obligation exists at the acquisition date. The amendments to IFRS 3 also clarify that contingent assets do not qualify for recognition at the acquisition date. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IAS 16: Proceeds Before Intended Use</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while the entity is preparing the asset for its intended use (including while assessing technical and physical performance of the asset). Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Annual Improvements to IFRS Standards 2018-2020</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the annual improvements finalized in May 2020, IFRS 9 Financial Instruments was amended to clarify which fees should an entity include when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other&#8217;s behalf.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:174%">New standards and amendments to standards issued but not effective as of December&#160;31, 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:37.057%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:37.788%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.855%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Standards and amendments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mandatory application: annual periods beginning on or after</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IFRS 17 (and subsequent amendments)</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Insurance Contracts</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Disclosure of Accounting Policies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Definition of Accounting Estimates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Deferred Tax related to Assets and Liabilities Arising from a Single Transaction</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1 </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Classification of Liabilities as Current or Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Non-current Liabilities with Covenants</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IFRS 16</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Lease Liability in a Sale and Leaseback</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr></table></div>Based on the assessment performed to date, the Group estimates that the adoption of these new pronouncements will not have a significant impact on the consolidated financial statements in the initial period of application. In particular, the Group has made further progress in its assessment to identify contracts that meet the definition of insurance contracts and are therefore within the scope of IFRS 17 Insurance Contracts, but the Group estimates that the future application of the new requirements will not have a significant impact on consolidated equity upon first-time adoption.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant accounting policies applied by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Significant Accounting Policies [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793868960">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingSegmentsAbstract', window );"><strong>Operating Segments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory', window );">Segment Information</a></td>
<td class="text">Segment information<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 the Telef&#243;nica Group is reporting financial information, both internally and externally, according to the following segments: Telef&#243;nica Spain, VMO2 (recorded by the equity method), Telef&#243;nica Germany, Telef&#243;nica Brazil and Telef&#243;nica Hispam (formed by the Group's operators in Colombia, Mexico, Venezuela, Ecuador, Argentina, Chile, Peru and Uruguay).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2021, compared to 2020, the Telef&#243;nica Group changed its reporting segments as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i) On June 1, 2021, upon the establishment of the VMO2 joint venture (whose results are accounted for under the equity method), the former Telef&#243;nica United Kingdom segment was replaced by the new VMO2 segment (see notes 2 and 10). The 2021 results include the consolidation of Telef&#243;nica United Kingdom from January 1 to June 1, and the equity accounting of 50% of the net result of VMO2 from June 1 to December 31 (see Note 10). The gain registered on the establishment of VMO2, amounting to 4,460 million euros (see notes 2 and 26), are recorded in "Other companies".</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii) The Telxius Group ceased to be a reporting segment as a result of the sale of the telecommunications towers divisions in Europe and Latin America (see Note 2). The Telxius Group&#8217;s results as well as the gain obtained for the sale of the telecommunications towers divisions, amounting to 6,099 million euros (see notes 2 and 26), were recorded in "Other companies".</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The impairment losses on goodwill and other assets of Telef&#243;nica Argentina recorded in 2020, the impairment loss on goodwill of Telef&#243;nica del Per&#250; in 2021 (see Note 7) and the impairment losses on other assets of Telefonica Argentina in 2022 (see notes 6 and 8), are included in the Telef&#243;nica Hispam segment.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The segments referred to above include the information relating to the fixed, mobile, cable, data, internet, television and other digital services businesses provided in each country. Intersegment transactions are carried out as if on an arm's length basis.  </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information relating to other Group companies not specifically included in these segments is reported under "Other companies" (see Appendix I), which includes Telef&#243;nica, 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 Incremental Group and BE-terna Group, acquired in 2022, and Cancom Group, acquired in 2021 (see Note 5), are reported within "Other companies". "Other companies" also includes the share of results of investments accounted for by the equity method corresponding to the fiber optic companies incorporated in 2021 and 2022 (see Note 10). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group centrally manages borrowing activities, mainly through Telef&#243;nica, 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, Telef&#243;nica, S.A. is the head of the Telef&#243;nica 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 through operating income.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The "Eliminations" of the Group at OIBDA level mainly reflected the leases of Telxius Group (in 2020 and 2021, up to the date of sale of these companies) to other Telef&#243;nica Group companies, due to the asymmetry in accounting between lessor and lessee under IFRS 16. This impact is mostly offset at operating income level. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica 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</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 (see Note 9) regarding the Group&#8217;s operating segments: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.262%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.238%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2 </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,224&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,870&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,243&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,982)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,993&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">External revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,224&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,854&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,026&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,685&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,993&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,991)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,909)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,666)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,138)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,183)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,149)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,904&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27,141)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,588</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,558</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,732</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,958</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">94</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(78)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,852</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,157)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,295)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,369)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,799)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(218)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,796)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,431</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">263</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,363</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(124)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,056</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">217</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,795</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,058</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">212</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,819</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">724</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">594</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">596</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">514</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,448</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses includes &#8220;Other income&#8221;, &#8220;Supplies&#8221;, &#8220;Personnel expenses&#8221; and &#8220;Other expenses&#8221;.</span></div></td></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.794%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.531%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,765&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,362&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,059&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,864)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">External revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,156&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,609&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,738&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,897&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,431&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,855)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,040)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,709)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,341)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,772)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,644)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,589&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,623&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17,294)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,377</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">919</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,424</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,718</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(241)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,983</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,153)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,918)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,873)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(356)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,397)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,224</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">919</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,220</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(155)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,586</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of (loss) income of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(16)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(127)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,815</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">933</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,284</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,069</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">978</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">206</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,267</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">482</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">389</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">489</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">387</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">113</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(254)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,439</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income and expenses includes &#8220;Other income&#8221;, &#8220;Supplies&#8221;, &#8220;Personnel expenses&#8221; and &#8220;Other expenses&#8221;.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Additionally, rights of use in the amount of 2,633 million euros were recorded in 2021 following the sale of the tower division of Telxius (see Note 9).</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"><tr><td style="width:1.0%"/><td style="width:18.545%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.501%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.387%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.947%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,401&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,708&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,422&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,647&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,556)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43,076&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">External revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,118&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,666&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,406&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,786&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,610&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43,076&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">283&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,037&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,546)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,355)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,644)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,223)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,234)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,932)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,288)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,578)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,046</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,064</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,309</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,188</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">990</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(458)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,498</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,184)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(389)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,965)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,274)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(468)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">315&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,359)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,862</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,284)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(109)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(143)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,408</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">913</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,094</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,372</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">454</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">768</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">364</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">378</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(909)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,014</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses includes &#8220;Other income&#8221;, &#8220;Supplies&#8221;, &#8220;Personnel expenses&#8221; and &#8220;Other expenses&#8221;.</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the income, CapEx and acquisitions of rights of use of VMED O2 UK (VMO2) in 2022 and 2021 (see Note 2). VMO2 is a joint venture 50% owned by Telef&#243;nica and Liberty Global and is recorded under the equity method (see Note 10). The tables below show the information of the joint venture at 100% and the reconciliation with the Telef&#243;nica Group's share of income (loss) accounted for by the equity method. </span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:49.777%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.022%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.901%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">VMO2</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">January-December, 2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 1 to December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,155&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,223&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,754)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,773)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,450</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,170)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,395)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">231</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,020)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(504)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Realised and unrealised gains on derivative instruments, net </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,567&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency transaction losses, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,296)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(355)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result before taxation</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">507</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(300)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result for the period (100% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50% attributable to Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital expenditures (CapEx)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,707</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,508</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">118</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">75</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents main assets and liabilities by segment: </span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.701%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.944%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2 </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,285&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,602&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,870&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,237&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54,202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,722&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,048&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,169&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments accounted for by the equity method </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">146&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">410&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-currents assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">992&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">984&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,578&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,082&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,410)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,101&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,395&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">463&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">485&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">612&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">929&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,884&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,435&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,441)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,917</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,779</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,142</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,875</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,951</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,288</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15,310)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">109,642</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,510&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">653&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,502&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,425&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,120)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,059&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,317&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,663&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,531&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,657&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">274&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,032&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">744&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,067&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,840&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,449&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,867)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,020&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">392&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">597&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">629&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">402&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,020&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities associated with non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,782</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,246</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42,869</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15,261)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77,934</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:26.239%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.945%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,499&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,056&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,637&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,667&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,969&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> </span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,433&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,349&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,701&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,064&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(67)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,579&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments accounted for by the equity method </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,773&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-currents assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">883&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">888&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,001&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,428&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,402)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,347&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">433&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">454&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">713&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,671&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,616&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">838&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,379&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,548)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">358&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,971</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,129</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,953</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,461</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,544</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(14,473)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">109,213</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,140&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,627&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,288&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,554)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,290&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,082&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,781&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,317&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,192&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,391&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,040&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">594&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,602&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,620&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,669&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,591)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,005&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">378&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">548&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">295&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,679&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities associated with non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,042</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,819</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14,306</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45,129</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(14,367)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80,529</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of assets and liabilities of VMO2 is as follows (amounts corresponding to 100% of the company, see Note 10):</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"><tr><td style="width:1.0%"/><td style="width:47.867%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.301%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.532%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42,576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">862&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,058&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-currents assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,763&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,348&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">511&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">214&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">52,333</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,185&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">725&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,248&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,626</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,198</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of segment revenues is as follows:</span></div><div><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:25.439%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.351%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.257%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.084%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.504%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2022</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2021</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Country by segments</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Spain </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,497</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,417</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">United Kingdom </span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,532&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">232&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,476&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,708</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">806&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,394&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,224</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">814&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,942&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,765</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">785&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,730&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,532</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,764&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,106&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,300&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,610&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,910</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,531&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,891&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,422</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,138&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,003&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,907&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,444&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,362</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,836&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,070&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,922</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Other and inter-segment eliminations</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,261&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,261</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,091&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,091</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,993</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43,076</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Note: In the countries of Telef&#243;nica Hispam segment with separate fixed and mobile operating companies, intercompany revenues were not considered. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The detail of revenues for Telef&#243;nica Spain is shown in the table below. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given the convergence reached at Telef&#243;nica Spain due to the high penetration of convergent offers in Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retailers</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,662&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,699&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,906&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wholesalers, mobile handsets sales and others</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,835&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,718&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,495&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,497</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,417</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for operating segments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS08_g20-24__IFRS08_g20-24_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Operating Segments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794211440">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business Combinations<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsExplanatory', window );">Business Combinations</a></td>
<td class="text">Business combinations<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:120%">2022</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of mobile assets of Oi Group</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of the company Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), to which the mobile assets of Oi Group assigned to Telef&#243;nica Brasil had been contributed, under the segregation plan stated in the Oi Agreement (see Note 29).</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The mobile assets of Oi Group finally assigned to Telef&#243;nica Brasil were the following:</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Customers: approximately 12.5 million (equivalent to 30% of the total customer base of the mobile assets of Oi Group) &#8211; according to ANATEL&#8217;s February 2022 data;</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Spectrum: 43 MHz as national population-weighted average (46% of the radiofrequency of the mobile assets of Oi Group); and</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Infrastructure: contracts for the use of approximately 2.7 thousand sites of mobile access (corresponding to 19% of the sites of the mobile assets of Oi Group).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This transaction brings benefits to the Brazilian telecommunications sector, expanding the capacity to make investments and create technological innovations in a sustainable and rational manner, contributing to the digitalization of the country through the construction and expansion of networks in cutting-edge technologies, such as 5G and fiber, which translates into services with better coverage and quality to users. In addition, the transaction has the potential to generate synergies for the Company, through the optimization of operating costs and efficient allocation of investments due to the integration of the incorporated assets. </span></div><div style="text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On the date of approval of these consolidated financial statements, the Company has already concluded the report for the allocation of the purchase price. The following table presents the consideration, the fair value of the identifiable assets and the liabilities assumed at the acquisition date and the goodwill:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consideration</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,093</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">539&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Licenses</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">105&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(24)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(221)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(55)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">417</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">676</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of the licenses has been determined using the discounted cash flow method of the Income Approach, which considers the earning capacity of the asset. The amortization period of the licenses ranges from 5 to 15 years (average period of 10.08 years). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value of trade receivables amounts to 74 million euros, which does not differ from the book value consisting of a gross amount of 81 million euros, net of estimated impairment losses of 7 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the acquisition date, contingent liabilities have been recognized at fair value in the amount of 90 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of Garliava since its inclusion in the scope of consolidation and until December 31, 2022 was 206 million euros in revenues and 1 million euros in profit for the period. The information is only available since the mobile assets of Oi assigned to Telef&#243;nica Brasil were contributed to Garliava. Consequently, it is not practicable to calculate these impacts as if the transaction had taken place on January 1, 2022. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 17, 2022, Telef&#243;nica Brasil, together with Claro S.A. and TIM S.A. ("Buyers"), notified Oi, pursuant to the Agreement, about (i) the determination of the post-closing price adjustment in benefit of the Buyers; and (ii) the losses known to date (as defined in the Agreement) in relation to which the Buyers have indemnification rights against the Seller in the total amount of 353 million Brazilian reais, of which 64 million Brazilian reais (approximately 12 million euros) are attributable to Telef&#243;nica Brasil. The post-closing adjustment notice presents values and calculations determined with the support of a specialized company, based on the best analysis of the information received and understanding of the Agreement, totaling the maximum amount of 3,187 million Brazilian reais for the price adjustment on behalf of the Buyers. From the price adjustment amount calculated, the amount attributable to Telef&#243;nica Brasil is equivalent to up to 1,075 million Brazilian reais (approximately 204 million euros), part of which (488 million Brazilian reais, approximately 93 million euros) is guaranteed by the retention of 10% on the amount paid for the acquisition (see Note 2). On October 3, 2022, Telef&#243;nica Brasil, together with Claro S.A. and TIM S.A., started the arbitration procedure against the Seller (see Note 29.c). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Buyers made a judicial deposit of the amount withheld from the updated purchase price (see Note 15), until the dispute arising from the price adjustment is resolved by arbitration, corresponding to Telef&#243;nica Brazil an amount of 522 million reais at December 31, 2022 (approximately 94 million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Incremental</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 21, 2022, Telef&#243;nica Telef&#243;nica Tech UK &amp; Ireland, Ltd completed the acquisition of 100% of the shares of the British group Perpetual TopCo, Limited and affiliates (Incremental), one of Microsoft's fastest-growing business partners in the UK, for a 104 million euros consideration (including potential contingent payments linked to its future performance). In addition, at the closing of the transaction a payment was made in the amount of 91 million euros to cancel payment obligations of the acquired companies. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With this acquisition, the Group significantly increased its scale and competencies in Microsoft technologies.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the date of preparation of these consolidated financial statements, the purchase price allocation is provisional. The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share purchase price</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment obligations cancelled</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts payable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">25</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Preliminary goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">170</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of Incremental to the profit for the year, after the impact of the amortization of the assets identified in the purchase price allocation, has been a 1 million euro profit.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of BE-terna<br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 9, 2022, Telef&#243;nica Cybersecurity &amp; Cloud Tech, S.L.U. completed the acquisition of 100% of the shares of the German group BE-terna Acceleration Holding GmbH and affiliates ("BE-terna Group"), for a 191 million euros consideration (including potential contingent payments linked to its future performance). In addition, at the closing of the transaction a payment was made in the amount of 162 million euros to cancel payment obligations of the acquired companies. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BE-terna Group has a highly qualified team of more than 1,000 employees in 28 locations in Germany, Austria, Switzerland, the Adriatic region and the Nordic countries, among other markets. With this acquisition, the Group significantly enriches its geographic scale and its professional and managed services capabilities across Europe.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the date of preparation of these consolidated financial statements, the purchase price allocation is provisional. The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share purchase price</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">191&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment obligations cancelled</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">353</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Right of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current tax payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">74</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Preliminary goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">279</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of BE-terna Group to the profit for the year, after the impact of the amortization of the assets identified in the purchase price allocation, has been a 3 million euros loss.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:120%">2021</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Cancom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 29, 2021, Telef&#243;nica Cybersecurity &amp; Cloud Tech, S.L.U. reached an agreement with Cancom Group for the acquisition of 100% of the shares of the British company Cancom Ltd.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cancom Ltd (currently called Telef&#243;nica Tech UK &amp; Ireland Ltd.) is a company that provides end-to-end advanced cloud and cybersecurity services in the United Kingdom and Ireland.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the transaction, fair value of assets and liabilities identified at the acquisition moment, and the goodwill generated:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Enterprise value</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Adjustments of debt and cash</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consideration (share purchase price)</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">271</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(140)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(49)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">284</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, at the closing of the transaction a payment was made in the amount of 122 million euros to cancel accounts payable of the acquired companies to Cancom Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Customer relationships were valued using the MEEM (&#8220;Multiple Excess Earnings Method&#8221;), which is based on calculating the discounted cash flows reflecting the economic benefits attributable to the customer base after consideration of all value contributions of other assets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The contribution of Cancom Ltd to the profit for the year 2021, after the impact of the amortization of the assets identified in the purchase price allocation, was a 4 million euros loss.</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for business combinations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Section Disclosures<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS03_g59-63__IFRS03_g59-63_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Combinations and Acquisitions of Non-Controlling Interests [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798995328">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsExplanatory', window );">Intangible Assets</a></td>
<td class="text">Intangible assets<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of and movements in net intangible assets in 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.666%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.115%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers<br/>and others</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combi-nations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(844)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">392&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,550&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">495&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,337)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,011&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(356)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">840&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(818)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,530</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,599)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(31)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">204</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">545</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">647</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.700%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combinations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,573&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,188&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(725)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">197&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,380&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">513&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">828&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,238&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(376)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">512&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">734&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">690&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(807)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,488</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,410</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,388)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(229)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">215</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">121</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">108</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Total additions of intangible assets in 2021 amounted to 2,981 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions of spectrum in 2022 amounted to 173 million euros (1,704 million euros in 2021, including the additions corresponding to "Non-current assets and disposal groups held for sale").</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 15 MHz of spectrum in the 1900 MHz band was renewed in Colombia for an amount of 125 million euros. The amount pending payment is detailed in Notes 21 and 22. In 2021, the acquisition of spectrum for 5G in Chile for 131 million euros was recorded.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2022 Telef&#243;nica Brazil renewed spectrum in the 850 MHz band for an amount of 35 million euros. The amount pending payment is detailed in Notes 21 and 22.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 Telef&#243;nica Spain acquired one block of 10 MHz in the 3.4 GHz band and 20 MHz of spectrum in the 700MHz band for an amount of 352 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On December 3, 2021, ANATEL signed the terms of authorization for the use of the blocks of radio frequencies assigned to Telef&#243;nica Brazil. Pursuant to the terms, in addition to the amounts related to radio frequencies to be paid to ANATEL, the Company is making contributions to the Entidade Administradora de Faixa ("EAF" / Band Management Entity) and to the Entidade Administradora da Conectividade de Escolas ("EACE" / School Connectivity Management Entity). The estimated total cost, registered as addition in "service concession arrangements and licenses" in 2021, amounted to 4,459 million Brazilian real (700 million euros at the 2021 average exchange rate), of which 929 million Brazilian real from radio frequency licenses correspond to ANATEL (146 million </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">euros at the 2021 average exchange rate), 2,104 million Brazilian real to "EAF" (330 million euros at the 2021 average exchange rate) and 1,426 million Brazilian real to "EACE" (224 million euros at the 2021 average exchange rate).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As a requirement for obtaining these authorizations, the Company, as well as the other successful telecommunication service bidder providers, assumed a series of commitments. For the 2.3 GHz and 3.5 GHz spectrum band obligations for coverage commitments and fiber optic backbone network deployment in locations with little or no connectivity infrastructure. In addition, the successful bidders for the 3.5 GHz band must fund all activities related to the migration of satellite TV services from the C band to the Ku band, for the construction of six high-capacity info-ways by laying sub fluvial cables for the Integrated and Sustainable Amazon Program ("PAIS") and the implementation of private (fixed and mobile) communication networks reserved for the Federal Public Administration. "EAF" will be responsible for the execution of these activities. The successful bidders for the 26 GHz spectrum bands will be required to fund "EACE's" activities for broadband connectivity projects for public schools to be selected across the country.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In March 2021 Telef&#243;nica United Kingdom acquired 40 MHZ of spectrum in the 3.6 GHz band and 20 MHz in the 700 MHz FDD band, amounting to 515 million euros. The acquisition was accounted under "Non-current assets and disposal groups held for sale" in the statement of financial position (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Impairments" in 2022 includes an impairment loss related to licenses and sofware of Telef&#243;nica Argentina, amounting to 21 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations&#8221; in 2022 corresponds mainly to the acquisition of the intangible assets of Oi, the Incremental Group and the BE-terna Group amounting to 539, 24 and 77 million euros (see Note 5), respectively.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8220;Business combinations&#8221; in 2021 corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Transfers and others" in 2021 included the reclassification of the intangible assets of Telef&#243;nica de El Salvador amounting to 38 million euros to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Appendix VI contains the details of the main concessions and licenses which the Group operates. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The effect of the translation into euros of the intangible assets of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a), is shown in the column "Translation differences and hyperinflation adjustments".</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated amortization and impairment losses of intangible assets at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,837&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(164)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,550&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,344)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,368)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">944&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(681)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">870&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(829)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(28,345)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(188)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,007)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,442&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,938)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,888&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,917)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">901&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(625)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(868)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,211</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25,355)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(131)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table>Goodwill<div style="text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Movement in goodwill </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in goodwill assigned to each Group segment was as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:23.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.738%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">695&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">457&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,152</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">805</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,471</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.169%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.869%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,299&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(172)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,044</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">297</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(353)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(416)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(50)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions of Telef&#243;nica Brazil in 2022 mainly correspond to the goodwill from the acquisition of the assets of the mobile business of Oi Group (see notes 2 and 5).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions in 2022 also include the preliminary goodwill from the acquisitions of Incremental and BE-terna, amounting to 170 million euros and 279 million euros, respectively (see Note 5).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions in 2021 included the goodwill related to the acquisition of Cancom amounting to 284 million euros (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;, amounting to 393 million euros, with a balancing entry in &#8220;Other expenses&#8221; (see Note 26).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2021 the closing of the second phase of the agreement of the contract dated June 8, 2020 between Telef&#243;nica Germany and Telxius was carried out and the sites corresponding to this phase were sold to ATC (see Note 2). The goodwill assigned amounting to 172 million euros was derecognized. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Disposals of Telef&#243;nica Hispam in 2021 included 137 million euros following the agreement for the sale of 60% of the shares of InfraCo, SpA by Telef&#243;nica Chile (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of Disposals of Telef&#243;nica Brazil in 2021 corresponded to the goodwill derecognized following the agreement with Caisse de d&#233;p&#244;t et placement du Qu&#233;bec or the construction, deployment and commercialization of a fiber-to-the-home (FTTH) network in Brazil, that was closed in July 2021 (see Note 10). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash-generating units </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:45.020%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.839%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.841%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,752</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,278</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,386</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,386</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,215</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,166</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">154&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">265&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">239&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others T. Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">827</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">398</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">110&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,471</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is tested for impairment at the end of the year using the business plans of the cash-generating units to which the goodwill is assigned, approved by the Board of Directors of Telef&#243;nica. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The business plan covers a three-year period, including the closing year. In order to complete the five years of cash flows after the closing year, an additional normalization period is added to the business plans on the operating ratios until the terminal parameters are reached. The 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The process of preparing the CGUs&#8217; 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main assumptions used in calculating value in use  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CGUs&#8217; 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main variables considered for the most significant CGUs (T. Brazil, T. Spain, and T. Germany), are described below.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of revenues, the plan is in line with the average three-year estimates made by analysts, which include a trend towards stability or improvement.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OIBDA margin and long-term Capital Expenditure (CapEx) ratio</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The values obtained, as described in the previous paragraphs, are compared with the available data of analysts and competitors in the geographic markets where Telef&#243;nica Group operates.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Europe, the long-term OIBDA margins two-years estimates of Telef&#243;nica Group's analysts are within a range of 34% to 39% for Spain and 30% to 33% for Germany. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the long-term ratio of CapEx over revenues, the valuations performed for the impairment tests for Spain and Germany consider the opinions of Telef&#243;nica Group&#8217;s analysts with regard to investment needs (around 12% for Spain and around 14% for Germany). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As for the long-term OIBDA margin two-years estimates of Telef&#243;nica Group's analysts for the operator in Brazil, it is in a range within 41% to 46%. Regarding investments, the operator will invest a percentage over the horizon of the projected plan that is in line with the investment needs foreseen for the development of its business, which on average is around 16%.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Discount rate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate, applied to discount cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and cost of debt according to the finance structure determined for each CGU. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This rate is calculated using the capital asset pricing model (CAPM), which considers the asset&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant components of WACC are summarized as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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, influenced by central banks interventions. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Equity Risk Premium: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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&#180; returns and the stock market returns, of the country where the company is listed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main underlying data used in these calculations are obtained from independent and renowned external information sources. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:29.163%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.446%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Discount rate in local currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.5%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16.4%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.0%</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.0%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.7%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.2%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.2%</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Perpetuity growth rate</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">GDP growth of each country and growth data from external sources, adjusting any particular case with specific characteristics related to the business evolution. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The perpetuity growth rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:45.020%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.839%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.841%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perpetuity growth rate<br/>in local currency&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5%</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.0%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.1%</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The perpetuity growth rates for 2022 remained stable comparing to 2021. In Brazil, the perpetuity growth rate is within the range of the estimations of the analysts, it is consistent with the Brazilian Central Bank&#8217;s medium-term inflation target (in a range between 1.5% and 4.5%) and it is below the nominal GDP growth rate of around 5.5%, according to market expectations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sensitivity to changes in assumptions </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test.  For the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:53.139%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.276%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in key assumptions,<br/>In percentage points</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial variables</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discount rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetuity growth rates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.25</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.25</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term operating variables</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA Margin</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1.5</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1.5</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-2</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of CapEx/Revenues</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.75</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.75</span></div></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity analysis revealed a gap between the recoverable value and carrying amount for the main CGUs at December 31, 2022.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As indicated above, in 2021 an impairment loss of 393 million euros was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;. The Group has performed the annual impairment test at the end of 2022. As a result of the analysis performed, no additional impairment has been recognized. Regarding the sensitivity of the calculation of the value in use of Telef&#243;nica del Per&#250; to reasonable variations in the key assumptions used, an increase of 100 basis points, in the WACC of 10.4%, would result in an impairment of goodwill in the amount of 160 million euros, while a decrease of 25 basis points in the perpetuity growth rate of 2.4% would have a negative impact of 11 million euros. In turn, a decrease in the OIBDA margin by approximately 1 percentage point would result in an impairment of goodwill of 95 million euros, and an increase in the investment ratio by 0.5 percentage points would have a negative impact on the carrying amount of goodwill of approximately 60 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Ecuador, the uncertainty of the political situation has raised the country risk indicator, with its consequent impact on financial costs and the discount rate used to estimate the recoverable value of the investment. Therefore, in the sensitivity of the calculation of the value in use of Telef&#243;nica Ecuador to reasonable variations in the key assumptions, an increase of around 150 basis points in the WACC, which is around 16%, would result in an impairment of goodwill of approximately 30 million euros, while a decrease of around 25 basis points in the perpetual growth rate of 2% would have no negative impact on the carrying value of goodwill. On the operating assumptions side, a 1.75 percentage point decrease in the OIBDA margin would result in an impairment of goodwill of approximately 12 million euros, and a 0.9 percentage points increase in the investment ratio would result in a negative impact on the carrying amount of goodwill of approximately 3 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Chile, the economy growth slowed down in 2022 due to various factors that had a negative impact on family income. These include the withdrawal of fiscal measures, a slowing labor market and high inflation that was above 10% throughout the year, and which forced the Central Bank of Chile to raise interest rates. On the other hand, the constitutional reform process, later revoked and reactivated, has added uncertainty, harming the country's short- </span></div>and medium-term growth expectations. In this context, the sharp rise in interest rates has increased the discount rate to 9.4%. Therefore, in the sensitivity of the calculation of the value in use of Telef&#243;nica de Chile to reasonable variations in the key assumptions, an increase of around 50 points basis points in the WACC would result in an impairment of goodwill of 60 million euros, while a decrease of around 25 basis points in the perpetuity growth rate (2.8%) would not have a negative impact on the carrying amount. On the business side, a 1.25 percentage point decrease in the OIBDA margin would result in an impairment of goodwill of 116 million euros and an increase of 0.63 percentage points in the investment ratio would have a negative impact of approximately 60 million euros on the carrying amount of goodwill.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for intangible assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS38_g118-128__IAS38_g118-128_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Assets [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798995456">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IntangibleAssetsAbstract', window );"><strong>Intangible Assets [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsExplanatory', window );">Goodwill</a></td>
<td class="text">Intangible assets<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of and movements in net intangible assets in 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.666%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.115%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers<br/>and others</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combi-nations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(844)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">392&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,550&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">495&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,337)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,011&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(356)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">840&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(818)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,530</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,599)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(31)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">204</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">545</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">647</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.700%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combinations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,573&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,188&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(725)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">197&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,380&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">513&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">828&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,238&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(376)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">512&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">734&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">690&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(807)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,488</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,410</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,388)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(229)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">215</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">121</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">108</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Total additions of intangible assets in 2021 amounted to 2,981 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions of spectrum in 2022 amounted to 173 million euros (1,704 million euros in 2021, including the additions corresponding to "Non-current assets and disposal groups held for sale").</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 15 MHz of spectrum in the 1900 MHz band was renewed in Colombia for an amount of 125 million euros. The amount pending payment is detailed in Notes 21 and 22. In 2021, the acquisition of spectrum for 5G in Chile for 131 million euros was recorded.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2022 Telef&#243;nica Brazil renewed spectrum in the 850 MHz band for an amount of 35 million euros. The amount pending payment is detailed in Notes 21 and 22.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 Telef&#243;nica Spain acquired one block of 10 MHz in the 3.4 GHz band and 20 MHz of spectrum in the 700MHz band for an amount of 352 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On December 3, 2021, ANATEL signed the terms of authorization for the use of the blocks of radio frequencies assigned to Telef&#243;nica Brazil. Pursuant to the terms, in addition to the amounts related to radio frequencies to be paid to ANATEL, the Company is making contributions to the Entidade Administradora de Faixa ("EAF" / Band Management Entity) and to the Entidade Administradora da Conectividade de Escolas ("EACE" / School Connectivity Management Entity). The estimated total cost, registered as addition in "service concession arrangements and licenses" in 2021, amounted to 4,459 million Brazilian real (700 million euros at the 2021 average exchange rate), of which 929 million Brazilian real from radio frequency licenses correspond to ANATEL (146 million </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">euros at the 2021 average exchange rate), 2,104 million Brazilian real to "EAF" (330 million euros at the 2021 average exchange rate) and 1,426 million Brazilian real to "EACE" (224 million euros at the 2021 average exchange rate).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As a requirement for obtaining these authorizations, the Company, as well as the other successful telecommunication service bidder providers, assumed a series of commitments. For the 2.3 GHz and 3.5 GHz spectrum band obligations for coverage commitments and fiber optic backbone network deployment in locations with little or no connectivity infrastructure. In addition, the successful bidders for the 3.5 GHz band must fund all activities related to the migration of satellite TV services from the C band to the Ku band, for the construction of six high-capacity info-ways by laying sub fluvial cables for the Integrated and Sustainable Amazon Program ("PAIS") and the implementation of private (fixed and mobile) communication networks reserved for the Federal Public Administration. "EAF" will be responsible for the execution of these activities. The successful bidders for the 26 GHz spectrum bands will be required to fund "EACE's" activities for broadband connectivity projects for public schools to be selected across the country.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In March 2021 Telef&#243;nica United Kingdom acquired 40 MHZ of spectrum in the 3.6 GHz band and 20 MHz in the 700 MHz FDD band, amounting to 515 million euros. The acquisition was accounted under "Non-current assets and disposal groups held for sale" in the statement of financial position (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Impairments" in 2022 includes an impairment loss related to licenses and sofware of Telef&#243;nica Argentina, amounting to 21 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations&#8221; in 2022 corresponds mainly to the acquisition of the intangible assets of Oi, the Incremental Group and the BE-terna Group amounting to 539, 24 and 77 million euros (see Note 5), respectively.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8220;Business combinations&#8221; in 2021 corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Transfers and others" in 2021 included the reclassification of the intangible assets of Telef&#243;nica de El Salvador amounting to 38 million euros to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Appendix VI contains the details of the main concessions and licenses which the Group operates. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The effect of the translation into euros of the intangible assets of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a), is shown in the column "Translation differences and hyperinflation adjustments".</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated amortization and impairment losses of intangible assets at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,837&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(164)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,550&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,344)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,368)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">944&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(681)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">870&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(829)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(28,345)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(188)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,007)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,442&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,938)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,888&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,917)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">901&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(625)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(868)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,211</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25,355)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(131)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table>Goodwill<div style="text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Movement in goodwill </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in goodwill assigned to each Group segment was as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:23.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.738%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">695&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">457&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,152</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">805</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,471</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.169%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.869%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,299&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(172)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,044</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">297</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(353)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(416)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(50)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions of Telef&#243;nica Brazil in 2022 mainly correspond to the goodwill from the acquisition of the assets of the mobile business of Oi Group (see notes 2 and 5).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions in 2022 also include the preliminary goodwill from the acquisitions of Incremental and BE-terna, amounting to 170 million euros and 279 million euros, respectively (see Note 5).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions in 2021 included the goodwill related to the acquisition of Cancom amounting to 284 million euros (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;, amounting to 393 million euros, with a balancing entry in &#8220;Other expenses&#8221; (see Note 26).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2021 the closing of the second phase of the agreement of the contract dated June 8, 2020 between Telef&#243;nica Germany and Telxius was carried out and the sites corresponding to this phase were sold to ATC (see Note 2). The goodwill assigned amounting to 172 million euros was derecognized. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Disposals of Telef&#243;nica Hispam in 2021 included 137 million euros following the agreement for the sale of 60% of the shares of InfraCo, SpA by Telef&#243;nica Chile (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of Disposals of Telef&#243;nica Brazil in 2021 corresponded to the goodwill derecognized following the agreement with Caisse de d&#233;p&#244;t et placement du Qu&#233;bec or the construction, deployment and commercialization of a fiber-to-the-home (FTTH) network in Brazil, that was closed in July 2021 (see Note 10). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash-generating units </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:45.020%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.839%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.841%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,752</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,278</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,386</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,386</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,215</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,166</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">154&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">265&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">239&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others T. Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">827</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">398</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">110&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,471</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is tested for impairment at the end of the year using the business plans of the cash-generating units to which the goodwill is assigned, approved by the Board of Directors of Telef&#243;nica. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The business plan covers a three-year period, including the closing year. In order to complete the five years of cash flows after the closing year, an additional normalization period is added to the business plans on the operating ratios until the terminal parameters are reached. The 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The process of preparing the CGUs&#8217; 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main assumptions used in calculating value in use  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CGUs&#8217; 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main variables considered for the most significant CGUs (T. Brazil, T. Spain, and T. Germany), are described below.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of revenues, the plan is in line with the average three-year estimates made by analysts, which include a trend towards stability or improvement.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OIBDA margin and long-term Capital Expenditure (CapEx) ratio</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The values obtained, as described in the previous paragraphs, are compared with the available data of analysts and competitors in the geographic markets where Telef&#243;nica Group operates.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Europe, the long-term OIBDA margins two-years estimates of Telef&#243;nica Group's analysts are within a range of 34% to 39% for Spain and 30% to 33% for Germany. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the long-term ratio of CapEx over revenues, the valuations performed for the impairment tests for Spain and Germany consider the opinions of Telef&#243;nica Group&#8217;s analysts with regard to investment needs (around 12% for Spain and around 14% for Germany). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As for the long-term OIBDA margin two-years estimates of Telef&#243;nica Group's analysts for the operator in Brazil, it is in a range within 41% to 46%. Regarding investments, the operator will invest a percentage over the horizon of the projected plan that is in line with the investment needs foreseen for the development of its business, which on average is around 16%.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Discount rate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate, applied to discount cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and cost of debt according to the finance structure determined for each CGU. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This rate is calculated using the capital asset pricing model (CAPM), which considers the asset&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant components of WACC are summarized as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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, influenced by central banks interventions. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Equity Risk Premium: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">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&#180; returns and the stock market returns, of the country where the company is listed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main underlying data used in these calculations are obtained from independent and renowned external information sources. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:29.163%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.446%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Discount rate in local currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.5%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16.4%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.0%</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.0%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.7%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.2%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.2%</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Perpetuity growth rate</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">GDP growth of each country and growth data from external sources, adjusting any particular case with specific characteristics related to the business evolution. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The perpetuity growth rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:45.020%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.839%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.841%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perpetuity growth rate<br/>in local currency&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5%</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.0%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.1%</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The perpetuity growth rates for 2022 remained stable comparing to 2021. In Brazil, the perpetuity growth rate is within the range of the estimations of the analysts, it is consistent with the Brazilian Central Bank&#8217;s medium-term inflation target (in a range between 1.5% and 4.5%) and it is below the nominal GDP growth rate of around 5.5%, according to market expectations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sensitivity to changes in assumptions </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test.  For the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:53.139%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.276%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in key assumptions,<br/>In percentage points</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial variables</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discount rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetuity growth rates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.25</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.25</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term operating variables</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA Margin</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1.5</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1.5</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-2</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of CapEx/Revenues</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.75</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.75</span></div></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity analysis revealed a gap between the recoverable value and carrying amount for the main CGUs at December 31, 2022.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As indicated above, in 2021 an impairment loss of 393 million euros was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;. The Group has performed the annual impairment test at the end of 2022. As a result of the analysis performed, no additional impairment has been recognized. Regarding the sensitivity of the calculation of the value in use of Telef&#243;nica del Per&#250; to reasonable variations in the key assumptions used, an increase of 100 basis points, in the WACC of 10.4%, would result in an impairment of goodwill in the amount of 160 million euros, while a decrease of 25 basis points in the perpetuity growth rate of 2.4% would have a negative impact of 11 million euros. In turn, a decrease in the OIBDA margin by approximately 1 percentage point would result in an impairment of goodwill of 95 million euros, and an increase in the investment ratio by 0.5 percentage points would have a negative impact on the carrying amount of goodwill of approximately 60 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Ecuador, the uncertainty of the political situation has raised the country risk indicator, with its consequent impact on financial costs and the discount rate used to estimate the recoverable value of the investment. Therefore, in the sensitivity of the calculation of the value in use of Telef&#243;nica Ecuador to reasonable variations in the key assumptions, an increase of around 150 basis points in the WACC, which is around 16%, would result in an impairment of goodwill of approximately 30 million euros, while a decrease of around 25 basis points in the perpetual growth rate of 2% would have no negative impact on the carrying value of goodwill. On the operating assumptions side, a 1.75 percentage point decrease in the OIBDA margin would result in an impairment of goodwill of approximately 12 million euros, and a 0.9 percentage points increase in the investment ratio would result in a negative impact on the carrying amount of goodwill of approximately 3 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Chile, the economy growth slowed down in 2022 due to various factors that had a negative impact on family income. These include the withdrawal of fiscal measures, a slowing labor market and high inflation that was above 10% throughout the year, and which forced the Central Bank of Chile to raise interest rates. On the other hand, the constitutional reform process, later revoked and reactivated, has added uncertainty, harming the country's short- </span></div>and medium-term growth expectations. In this context, the sharp rise in interest rates has increased the discount rate to 9.4%. Therefore, in the sensitivity of the calculation of the value in use of Telef&#243;nica de Chile to reasonable variations in the key assumptions, an increase of around 50 points basis points in the WACC would result in an impairment of goodwill of 60 million euros, while a decrease of around 25 basis points in the perpetuity growth rate (2.8%) would not have a negative impact on the carrying amount. On the business side, a 1.25 percentage point decrease in the OIBDA margin would result in an impairment of goodwill of 116 million euros and an increase of 0.63 percentage points in the investment ratio would have a negative impact of approximately 60 million euros on the carrying amount of goodwill.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for intangible assets.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798995456">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, Plant and Equipment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, plant and equipment [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory', window );">Property, Plant and Equipment</a></td>
<td class="text">Property, plant and equipment<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition and movements in 2022 and 2021 of the items comprising net "Property, plant and equipment" were as follows:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:14.250%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.823%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation<br/>differences and<br/>hyperinflation<br/>adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combina-tions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(216)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,323&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,707)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,908&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">933&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,867&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,353)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,289</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,133)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(63)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(209)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,127</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,714</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.771%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.186%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.303%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.116%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depre-ciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impair-ments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation<br/>differences and<br/>hyperinflation<br/>adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combi-nations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business sale</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,829&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(241)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,676&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,893)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,780&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(297)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">623&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,519&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,769</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,880</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,360)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(66)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(416)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(383)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Total additions of property, plant and equipment in 2021 amounted to 4,286 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Spain's investments in property plant and equipment in 2022 and 2021 amounted to 1,288 and 1,155 million euros, respectively. The rapid rollout of fiber continues, with more than 28 million premises passed in Telef&#243;nica Spain by the end of 2022, as well as the development of the 5G network reaching, 85% population coverage by the end of the year. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Germany's investments in property, plant and equipment in 2022 and 2021 amounted to 854 and 913 million euros, respectively. The strong progress in 5G rollout and network modernization continues. 5G population coverage stood at approximately 80% at the end of 2022.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Brazil's investments in property, plant and equipment in 2022 and 2021 amounted to 1,277 and 1,049 million euros, respectively. The investments were mainly dedicated to the expansion of the coverage and capacity of the 4G mobile networks, with a coverage of 96% of the population, and to the improvement of the quality of the network and the expansion of the FTTH network in the fixed business, with more than 23.3&#160;million premises passed. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Hispam's investments in property, plant and equipment in 2022 and 2021 amounted to 732 and 680 million euros, respectively. Investments continued to focus on the improvement of the mobile networks (with the expansion of the coverage and capacity reinforcement), as well as on the deployment of its own fixed network. Efficient management of available resources and optimization of CapEx are the main management levers in the region, with a focus on simplification, digitalization of processes and the search for synergies through the promotion of regional initiatives.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica United Kingdom's investments in property, plant and equipment in 2021, up to the completion of the transaction (see Note 2), amounted to 366 million euros. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Impairments" in 2022 includes an impairment loss related to assets of Telef&#243;nica Argentina, amounting to 56 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2022 mainly correspond to the acquisition of property, plant and equipment of Oi, the Incremental Group and the BE-terna Group amounting to 29, 1 and 6 million euros (see Note 5), respectively.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2021 mainly corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5) amounted to 15 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, there was an increase in the depreciation of property, plant and equipment amounting to 8 million euros (47 million euros in 2021) due to the reduction in the useful lives of certain assets of Telef&#243;nica M&#233;xico as a result of the transformation of the operating model announced in November 2019.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Transfers and others" in 2021 included the reclassifications of property, plant and equipment of Telef&#243;nica El Salvador and fiber optic assets of Telef&#243;nica Colombia amounted to 70 and 53 million euros respectively, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Business sale&#8221; in 2021 mainly corresponded to the sales of InfraCo, SpA and the second phase of the sale of towers by Telefonica Germany (see Note 2) amounted to 158 and 126 million euros, respectively, and the assets associated to Fibrasil following the Caisse de d&#233;p&#244;t et placement du Qu&#233;bec (CDPQ) agreement and the sale of two data centers in Spain after the agreement with Nabiax (see Note 10) for a total amount of 36 and 63 million euros, respectively.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The effect of translating into euros of property, plant and equipment of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a), is shown in the column "Translation differences and hyperinflation adjustments".</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December&#160;31, 2022 and 2021 were as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:34.876%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.909%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,097&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,375)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(81)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,319&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(72,742)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(412)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,157&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,566)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,343&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107,916</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(83,683)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(519)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,714</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:34.876%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.909%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,624&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,905)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(68,713)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(314)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,697&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,133)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,774&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(78,751)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(398)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS16_g73-79__IAS16_g73-79_TI<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788457120">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Rights of Use<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RightsofUseAbstract', window );"><strong>Rights of Use [Abstract]</strong></a></td>
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<td class="text">Rights of use<div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of rights of use in 2022 and 2021 is as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.847%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combinations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(279)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,402&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,139)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">110&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">596&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(574)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,037&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(72)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">227&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,579</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,448</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,064)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(57)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">282</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,279</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.771%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.116%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sale of the towers division of Telxius</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amorti-zation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combina-tions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">762&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">316&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(191)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,819&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">776&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,096&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,012)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(94)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(40)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,238&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">796&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(382)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(109)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,982</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,979</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,500</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,649)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(221)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(48)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,579</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Total additions of rights of use in 2021 amounted to 2,439 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.</span></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2022 corresponds to the acquisition of rights of use of Oi, the Incremental Group and the BE-terna Group (see Note 5) amounting to 105, 1 and 5 million euros, respectively.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business combinations" in 2021 corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5) amounted to 8 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The effect of the translation into euros of rights of use of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a) is shown in the column "Translation differences and hyperinflation adjustments". </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, there was an increase in amortization of rights of use amounting </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to 17 mil</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">lion euros (40 million euros in 2021) due to the reduction in the useful lives of certain rights of use of Telef&#243;nica M&#233;xico as a result of the transformation of the operating model announced in November 2019.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021 Telxius sold its telecommunications towers division to American Tower Corporation (see Note 2). The Telef&#243;nica Group operators maintained the leases agreements of the towers signed with the companies sold, subsidiaries of Telxius. Consequently, as of the closing date of the transactions, rights of use were recorded in the consolidated statement of financial position in the amount of 2,633 million euros. &#8220;Sale of the towers division of Telxius&#8221; column also includes the derecognition of rights of use with third parties corresponding to the second phase of the sale agreement between Telefonica Germany and Telxius in the amount of 133 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Transfers and others" in 2021 included the transfer to "Non-current assets and disposal groups held for sale" of the rights of use of Telef&#243;nica El Salvador amounted to 36 million euros (see Note 30).</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost and accumulated depreciation of the rights of use at December 31, 2022 and 2021 are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:54.471%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.468%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:10.779%"/><td style="width:0.1%"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rights of use</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,923&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,038)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,053&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,923)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,560&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,523)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,037&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(242)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">227&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,726)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,279</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:54.471%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.468%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:10.779%"/><td style="width:0.1%"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rights of use</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,491&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(698)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,214&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,653)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,003&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(979)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">404&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(203)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,112</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,533)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,579</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of expenses related to leases included in Supplies and Other expenses (see Note 3.g) of the consolidated income statement for 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.321%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.690%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term leases included in operating results as supplies</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Variable lease payments not included in the measurement of lease liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total expenses as supplies</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term leases included in external services</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Leases of low-value assets included in external services</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Variable lease payments not included in the measurement of lease liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total expenses as external services (Note 26)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">86</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total lease expenses</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">125</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">121</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of quantitative information about right-of-use assets. [Refer: Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Rights of Use [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799009856">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Associates and Joint Ventures<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InterestsInOtherEntitiesAbstract', window );"><strong>Interests In Other Entities [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesExplanatory', window );">Associates and Joint Ventures</a></td>
<td class="text">Associates and joint ventures<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of investments accounted for by the equity method and the share of income/(loss) of these investments is the following:</span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div style="padding-right:141.73pt"><span><br/></span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/><div style="display:inline-block;vertical-align:top;width:46.492%"/></div><div style="padding-right:141.73pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:33.549%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.138%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Holding</span></td><td colspan="6" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31/12/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31/12/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Ltd</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Prosegur Alarmas</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestructura e Fibra &#211;tica, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unsere Gr&#252;ne Glasfaser </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(25)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited (nexfibre)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,522</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">230</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(132)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco, S.L. (Nabiax)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20.00&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adquira Espa&#241;a, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo Infraco SpA. (Onnet Fibra Chile)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo HoldCo S.L. (Onnet Fibra Colombia)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Internet para todos S.A.C</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54.67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring do Brasil, Ltda.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Peru, S.A.C.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Colombia, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring M&#233;xico,S.A. de C.V.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Chile, SpA.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Ecuador, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Consumer Finance Colombia SAS</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">312</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">251</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,587</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,773</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">217</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(127)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the movement in investments accounted for by the equity method in 2022 and 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">427</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,329&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other comprehensive income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss) income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,773</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other comprehensive income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(646)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(920)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,587</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2022, once the corresponding authorizations from the regulatory authorities were obtained and after the fulfilment of certain agreed conditions, the transaction between Colombia Telecomunicaciones S.A. ESP BIC (Telef&#243;nica Colombia) and a Colombian company controlled by Kohlberg Kravis Roberts - KKR (Onnet Fibra Colombia S.A.S) for the sale and purchase of certain fiber assets owned by Telef&#243;nica Colombia and for the provision of wholesale connectivity services by Onnet Fibra Colombia S.A.S to Telef&#243;nica Colombia, the development of activities of deployment of fiber network, and other associated services, was completed. Telef&#243;nica Colombia received, as consideration, 187&#160;million U.S. dollars (approximately 165&#160;million euros at the exchange rate at such date) and 40% of the shares of a Spanish company controlled by KKR, Alamo HoldCo S.L., the sole shareholder of Onnet Fibra Colombia S.A.S. (see Note 30). The gain included in "Other income" in the consolidated income statement for the year 2022 amounted to 162 million euros (see Note 26). Additions for the year 2022 include the fair value assigned to the 40% of the investment in Alamo HoldCo, S.L. amounting to 28 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 24, 2022, Telef&#243;nica Infra, S.L. achieved a 20% stake in Daytona Midco S.L. as a result of the agreement reached on May 7, 2021 with Asterion Industrial Partners ("Asterion") for the contribution to Nabiax (a subsidiary of Asterion) of four data centers owned by the Telef&#243;nica Group (see Note 29.c). Additions for the year 2022 regarding this transaction amounted to 41 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions for the year 2022 also includes the capital increase of 50 million euros at Unsere Gr&#252;ne Glasfaser (27 million euros in 2021, see Note 28).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On July 29, 2022, Telef&#243;nica, Liberty Global and InfraVia (see Note 29.c.) reached an agreement for the establishment of a joint venture, "nexfibre", for the deployment of fiber-to-the-home (FTTH) in the United Kingdom. Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and Telef&#243;nica participate by halves in a joint vehicle that holds a 50% interest in nexfibre, with InfraVia owning the remaining 50%.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Translation differences and other comprehensive income (loss)" for the year 2022 mainly includes the impact of the pound sterling depreciation associated with the investment in VMO2, amounting to 627 million euros and the results of the defined benefit pension plan in VMO2 amounting to 106 million euros. This also includes gains imputed to equity on derivatives financial instruments in Unsere Gr&#252;ne Glasfaser amounting to 69 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June, September and December 2022, dividends of 125 million pounds sterling (equivalent to 146 million euros) 290 million pounds sterling (equivalent to 324 million euros) and 385 million pounds sterling (equivalent to 439 million euros), respectively, were received from VMED O2 UK Ltd. In December 2021, a dividend was received from VMED O2 UK Ltd for an amount of 161 million pounds sterling (equivalent to 187 million euros, see Note 28).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Additions for the year 2021 mainly includes the fair value of the 50% stake in VMO2 at the date of incorporation, which amounts to 12,012 million euros (see Note 2).</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In July 2021, the sale transaction of 60% of the shares of Infraco, SpA was completed. In 2021 additions, the value of the shareholding after the operation is included, amounting to 75 million euros.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Additionally, the value of the 50% stake in Fibrasil at the date of the transaction amounting to 73 million euros is included in additions for the year 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In July 2021, the partial closing of the transaction with Asterion took place, Telef&#243;nica obtained 13.94% of the company Daytona Midco S.L. and its subsidiary Digital Data Center Bidco, S.L.U. (Nabiax), registering 81 million euros in additions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">VMED O2 UK</span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/><div style="display:inline-block;vertical-align:top;width:46.492%"/></div><div style="margin-top:5pt;text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Main assumptions used in the initial fair value calculation</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value calculation for VMED O2 UK Ltd at the time of its constitution was based on a discounted cash flows valuation, using the methods of multiples of comparable companies and multiples of transactions as a cross-check. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The valuation emanated from the business plan of the joint venture for the 2021-2023 period that resulted from the aggregation of the individual business plans of O2 and Virgin Media approved by Telef&#243;nica and Liberty Global, respectively, extended to 2030, and the synergies plan prepared by the strategy teams of both groups. The following is a description of the main variables considered in the fair value calculation, according to the primary method:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Revenues</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: the valuation scenario assumed growth rates between 0% and 3% over the period, in line with the estimations of analysts and supported in the revenues synergies expected for the transaction. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">EBITDA margin</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: the forecasted EBITDA (operating income before depreciation and amortization) was based on the stand-alone plans, The normalized margin (post-IFRS 16, i.e., before amortization of rights of use), adjusted to consider the impact of annual payments of spectrum licenses once expired, was in the range of 36% to 40%.</span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Synergies</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: were considered taking into account management&#8217;s analysis performed at the individual workstream level and benchmarked with analyst estimates of probability of achievement. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Long-term capital expenditure ratio</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: it was expected to be in a range of 16% to 22% (including CapEx and rights of use additions), aligned with the historical level of comparable companies.</span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">discount rate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> applied to the cash flow projections was the weighted average cost of capital (WACC), the expected return appropriate for the expected risk level. </span></div><div style="text-align:justify;text-indent:18pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A modified version of the Capital Asset Pricing Model (&#8220;CAPM&#8221;) was used to estimate the required return on equity. To relever the beta it was considered the intrinsic leverage of the joint venture. In addition, it was considered a specific premium or alpha, which captures additional risks considered at the time of incorporation in relation to the likelihood of realization of synergies and the execution risk of the combined business plan. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the cost of debt, in line with the leverage assumption considered, the bonds issued by the joint venture were analysed and their spreads were compared to a comparable risk free rate (with a similar maturity, in the same currency and issued in the same country, so that there was not distortion due to the risk premia by country). A return after taxes was used because the interests on the financial debt are tax deductible. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In conclusion, the discount rate applied for the valuation was 6.9%.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt">Perpetuity growth rate</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: revenues from 2028 were normalized to the perpetuity growth rate (g), considering the analysts' consensus for the companies of the sector in the United Kingdom, contrasting with the estimations of long-term inflation rates and with the assumptions made by companies of the sector in their impairment tests. The perpetuity growth rate considered was 1.0%.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Impairment test as at December 31, 2022</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group has performed an impairment analysis of the investment in VMO2 at the end of the year. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022 has been a challenging year for the United Kingdom. In addition to higher inflation due to external factors (rising energy prices, supply chain problems and food prices) and domestic factors (very dynamic labour market), interest rates have risen, which has had a negative impact on the disposable income of households and businesses. This was followed after the summer by an episode of high financial volatility as a result of inconsistent fiscal policy decisions. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Despite the difficult macroeconomic context VMO2 has delivered its set guidance and made strong strategic and operational progress throughout the year. The company introduced new products, like TV Stream and Switch up and continues to drive fixed mobile convergence with its VOLT product. VMO2 delivered synergies according to its plan and the fixed footprint reached 16.1 million premises passed, meeting the full year build targets. In mobile, it expanded 5G services to more than 1,600 towns and cities, on-track to deliver 5G services to 50% of the UK population in 2023.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on December 15, 2022, Telef&#243;nica Infra, Liberty Global and InfraVia Capital Partners entered into a joint venture (see Note 29.c) which will deploy fibre to the home (FTTH) to 5 million homes in the UK not currently served by VMO2's network, with the possibility of expansion to an additional 2 million homes. The fibre network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the anchor tenant, as well as providing a range of technical services.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the analysis performed, the Group has concluded that as at December 31, 2022 the value in use continues to exceed the carrying value of the investment, although the headroom has been reduced. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate used to calculate the value in use at December 31, 2022 has increased from 6.9% to 7.3% due to the macroeconomic tensions in the UK and despite the downward revision, more than 20 months after the establishment of the joint venture, of the specific premium (alpha) considered in the calculation of the initial fair value. The perpetuity growth rate has been maintained at the 1% used in the initial valuation, which is below the real terminal growth forecast for the UK economy and despite higher inflation in the medium-term than assumed in the initial scenario.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the sensitivity of the calculation to reasonably possible variations in key assumptions:</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">An increase of about 18 basis points over the WACC rate used of 7.3%, or a decrease of around 22 basis points in the perpetuity growth rate (1%), would result in the value in use being equal to the carrying value.</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Regarding the operating variables used, which are within the ranges considered in the calculation of the initial fair value, a decrease of around 1 percentage point in the EBITDA margin, or an increase of around 1.1 percentage points in the long-term investment ratio would also equalize the value in use with the carrying value.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The values of operating variables included in the valuation are within the ranges expected by analysts for comparable companies in the region.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Detail of the main items on the statements of financial position and income statements of VMED O2 UK Ltd</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.274%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.712%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.714%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non current assets</span></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,280</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">48,779</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,782</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,554</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">555&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">415&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">52,333</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,840</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,593</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,668&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,185&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">885</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">523&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,786</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,605</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,248&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,317&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,545&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,626</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,198</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity (100% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,436</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,135</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50% Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,718&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,068&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisition costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,779</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,129</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:64.689%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.590%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.421%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">January - December 31 2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 1 - December 31 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,155&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,223&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">551&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">290&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,305)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,063)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,450</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,170)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,395)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">231</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,020)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(504)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">Realised and unrealised gains on derivative instruments, net </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,567&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency transaction losses, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,296)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(355)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result before taxation</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">507</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(300)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result for the period (100% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50% attributable to Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other comprehensive income (100% VMO2)</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(113)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">VMO2  entered into various derivative instruments to manage interest rate exposure and foreign currency exposure. Generally, VMO2 does not apply hedge accounting to its derivative instruments. Accordingly, changes in the fair values of most of its derivatives are recorded in the finance results of its consolidated income statement.</span></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(2) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Amount related to incentive awards held by certain employees of VMO2 associated with ordinary shares of Liberty Global and Telef&#243;nica. Share-based compensation expense is included in Operating expenses in the consolidated income statement of VMO2.</span></div></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Commitments </span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:43.596%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.324%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.324%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.566%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.172%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.718%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.657%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">154&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,504</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Programming commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">698&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">606&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">446&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">437&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">413&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,804</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Network and connectivity commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">265&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">266&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,294</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total commitments VMO2 (100%)</span></div></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,054&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">856&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">787&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">617&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">456&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,877</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchase commitments include unconditional and legally binding obligations related to the purchase of customer premises and other equipment and certain service-related commitments, including call center, information technology and maintenance services.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Programming commitments consist of obligations associated with programming contracts that are enforceable and legally binding that includes minimum fees.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Network and connectivity commitments include service commitments associated with the network extension program in the U.K. and commitments associated with the mobile virtual network operator (MVNO) agreements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the date of closing of the transaction, Telef&#243;nica and Liberty Global entered with VMO2 into certain service agreements, either on a transitional or ongoing basis. Likewise, Telef&#243;nica licensed the use of Telef&#243;nica and O2 brand rights to VMO2 (see Note 29.c). </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of balances and transactions related to associates and joint ventures recognized with VMO2 in the consolidated statement of financial position and consolidated income statement is as follows:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:74.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.036%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures for current operations </span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures </span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:11pt"><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">130&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Payables to associates and joint ventures" includes the obligation at December 31, 2021 in relation to the O2 UK pension plans arising as a result of the constitution of VMED O2 UK Ltd. amounting to 213 million pounds sterling (253 million euros at closing exchange rate of 2021, see Note 22) and that it has been paid in 2022 (see Note 28).  </span></div><div><span><br/></span></div><div style="margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Movistar Prosegur Alarmas</span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div><span><br/></span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/><div style="display:inline-block;vertical-align:top;width:46.492%"/></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2021 Movistar Prosegur Alarmas, S.L. (formerly Prosegur Alarmas Espa&#241;a, S.L.) acquired 100% of Prosegur Soluciones, S.A.U.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the key financial highlights of Movistar Prosegur Alarmas group 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:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:70.976%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.205%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">352&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(346)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(202)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Purchase price allocation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">146&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">108</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">% Holding</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Group&#8217;s share in equity</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">54</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying amount in the Telef&#243;nica Group</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">252</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">263</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt"><span><br/></span></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">FiBrasil</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 2, 2021, Telef&#243;nica Brasil, S.A. ("Vivo") and Telef&#243;nica Infra, S.L., infrastructures unit of Telef&#243;nica&#180;s Group ("T. Infra"), reached an agreement with Caisse de d&#233;p&#244;t et placement du Quebec ("CDPQ") for the construction, development and operation of a fiber (FTTH) network in Brazil, in mid-sized cities outside the State of Sao Paulo, through a joint venture entity, FiBrasil Infraestructura e Fibra &#211;tica S.A. ("FiBrasil"). On July 2, 2021, once the pertinent authorizations were obtained, the transaction closed, in wich Telef&#243;nica Group and CDPQ each held 50% in FiBrasil under a co-control governance model. Telef&#243;nica Group participation is distributed equally between Vivo and T.Infra.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The terms of the transaction encompass a total investment by CDPQ of up to 1,800 million reals (approximately 267 million euros at the date of the agreement), comprising payments to both Vivo and FiBrasil, for 50% stake in FiBrasil and also certain payments to be made by T. Infra in the equivalent economic terms, for a 25% stake in FiBrasil. CDPQ&#180;s capital contributions, in addition to expected leverage to be raised by the joint venture, will provide a fully funded business plan to accomplish FiBrasil&#180;s deployment targets.</span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Breakdown of balances and transactions with associates and joint ventures</span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/><div style="display:inline-block;vertical-align:top;width:46.492%"/></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:22.248%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.677%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="9" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets from associates and joint ventures</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures  (Note 14)</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term contractual liabilities to associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures (Note 22)</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">272&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term contractual liabilities to associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other short-term liabilities to associates and joint ventures (Note 22)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"/><td style="width:22.611%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.472%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.000%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.558%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.472%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.000%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.558%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.767%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.000%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.562%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">255&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">268&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">315&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial revenues with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses with associates and joint ventures</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Credits and other financial assets from associates and joint ventures" at December 31, 2022 includes 82 million euros of loans and 59 million euros of trade receivables granted by Colombia Telecomunicaciones, S.A. ESP BIC to the associate company &#193;lamo Holdco, S.L. and it subsidiary Onnet Fibra Colombia S.A.S., respectively. Additionally, this line includes 75 million euros corresponding to the subordinated debt granted by Telef&#243;nica Chile to the associate company HoldCo Infraco, SpA. generated by the sale of 40% of the fiber optic business (87 million euros as of December 31, 2021, see Note 12).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Long-term contractual liabilities to associates and joint ventures" at December 31, 2022 includes 82 million euros corresponding to Colombia Telecomunicaciones, S.A. ESP BIC with the associate company Onnet Fibra Colombia, S.A.S.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Revenue from operations with associates and joint ventures" in 2022 mainly includes 88 million euros corresponding to the transactions of the Group with the associate company HoldCo Infraco SpA (52 million euros in 2021) and 97 million euros with the associate company Onnet Fibra Colombia, S.A.S. In 2021 it included 98 million euros corresponding to the transactions of the Group with the joint venture Tesco Mobile Ltd. from January 1, to the date of the incorporation of VMED O2 UK (232 million euros in 2020).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Expenses from operations with associates and joint ventures" in 2022 mainly includes 121 million euros corresponding to the transactions of the Group with the associate company HoldCo Infraco SpA (50 million euros in 2021) and 39 million euros with the associate company &#193;lamo Holdco, S.L.</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of joint ventures. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B4<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B4_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799009856">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RelatedPartyAbstract', window );"><strong>Related Party [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRelatedPartyExplanatory', window );">Related Parties</a></td>
<td class="text">Related parties<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Significant shareholders </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The significant shareholders of the Company are Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), CaixaBank, S.A. and BlackRock, Inc.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the information provided by CaixaBank, S.A. for the 2022 Annual Report Corporate Governance, as updated per share capital of Telef&#243;nica, S.A. as of December 31, 2022, the shareholding of CaixaBank, S.A. in Telef&#243;nica&#8217;s share capital were 3.50%. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the information provided by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) for the 2022 Annual Report on Corporate Governance, as updated per share capital of Telef&#243;nica, S.A. as of December 31, 2022, the shareholding of BBVA in Telef&#243;nica&#8217;s share capital were 4.87%. Likewise, and according to the aforementioned information provided by BBVA, the percentage of economic rights attributed to Telef&#243;nica, S.A. shares owned by BBVA amounts to 4.97% of the Company's share capital. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the information notified by BlackRock, Inc to the CNMV on March 31, 2020, as updated per the share capital of Telef&#243;nica, S.A. as of December 31, 2022, the shareholding of BlackRock, Inc in Telef&#243;nica&#8217;s share capital were 4.48%. Based on the Schedule 13G/A filed with the SEC, on October 7, 2022, BlackRock, Inc. beneficially owned 4.96% of Telef&#243;nica, S.A. shares and 4.49% of voting rights.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2022 and 2021, the Group carried out no significant transactions with BlackRock, Inc. other than the corresponding dividends paid. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a summary of significant transactions between the Telef&#243;nica Group and BBVA and CaixaBank companies, other than the payment of the dividend corresponding to its shareholding. All transactions were carried out at market prices.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Participated companies</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 20, 2020, Telef&#243;nica Digital Espa&#241;a, S.L.U. and Compa&#241;&#237;a Chilena de Inversiones, S.L., an affiliated company of BBVA, entered into an agreement related to the incorporation of a subsidiary in Colombia with the aim of commercializing loans to consumers and SME in such country. On January 5, 2021, this company was incorporated as a 50/50 joint venture between the two companies, under the name Movistar Consumer Finance Colombia, S.A.S (see Note 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Telef&#243;nica Group holds a 50% interest in Telef&#243;nica Consumer Finance, E.F.C., S.A., a company controlled by CaixaBank (see Note 10).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Telef&#243;nica Group and BBVA each hold a 44.44% interest in the joint venture Adquira Espa&#241;a, S.A. (see Note 10).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Telef&#243;nica Group has a 50% interest in Telef&#243;nica Factoring Espa&#241;a and its subsidiaries in Brazil, Peru, Colombia, Mexico, Chile and Ecuador, accounted for by the equity method (see Note 10), in which BBVA and CaixaBank have minority interests.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">On July 21, 2022, Telef&#243;nica, S.A. and CaixaBank Payments and Consumer E.F.C., E.P., S.A. incorporated the company Telef&#243;nica Renting, S.A. 50% each. This company is controlled by CaixaBank.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The balances as of December 31, 2022 and 2021, and the transactions carried out in 2022 and 2021 of Telef&#243;nica Group companies with the aforementioned associates and joint ventures in which BBVA and CaixaBank hold interests are shown below:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.765%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.467%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.468%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures for current operations</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures</span></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.467%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.322%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance cost from operations with associates and joint ventures</span></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Derivatives</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The net fair value of the outstanding derivatives as of December 31, 2022 contracted with BBVA and CaixaBank amounts to 185 and 41 million euros, respectively (314 and 26 million euros, respectively, as of December 31, 2021). </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The nominal value of these derivatives amounted to 5,778 and 264 million euros, respectively (6,664 million euros with BBVA and 264 million euros with CaixaBank in 2021). As explained in the 'Derivatives policy' section of Note 19, this volume is so high because derivatives can be applied several times to the same underlying asset for an amount equal to its face value. As of December 31, 2022, the derivatives contracted with BBVA and CaixaBank account for approximately 7% of the total amount of outstanding derivatives contracted by the Group with external counterparties (see Note 19).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Additionally, at December 31, 2022, collateral guarantees on derivatives from BBVA and CaixaBank have been received, amounting to 236 million euros and 43 million euros, respectively (262 million euros and 21 million euros respectively at December 31, 2021).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Renting operations with CaixaBank</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In mid-2021, a new Fusion portfolio came into force that included a rental device. The Group has an agreement with CaixaBank to in turn rent these devices (a model known as "rent to rent"), covered by a framework financing agreement previously formalized between Telef&#243;nica and CaixaBank. In 2022, the volume of these operations with CaixaBank amount to 405 million euros (186 million euros in 2021) which have involved 19 million euros in financial expenses.  As of December 31, 2022, the balance of the account payable to CaixaBank amounted to 501 million euros (176 million euros as of December 31, 2021).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Likewise, the Group carries out other equipment rental operations with CaixaBank (equipment at customers' homes, such as routers or decoders). In 2022, the volume of this equipment leasing transactions was 82 million euros (92 million euros in 2021), with financial expenses amounting to 3 million euros (1 million euros in 2021). As of December 31, 2022, the debt with CaixaBank for these concepts amounts to 119 million euros (73 million euros in 2021).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Other operations</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The impact on the consolidated income statement of the Telef&#243;nica Group of the rest of the operations with BBVA and CaixaBank in 2022 and 2021 is shown below:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BBVA</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receipt of services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Services rendered</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total revenues</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">83</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">53</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline">(1)&#160; </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">At</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">December 31, 2022, Telef&#243;nica held a 0.73% stake (0.66% stake at December 31, 2021) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 12).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CaixaBank</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receipt of services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Services rendered</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total revenues</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">122</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">151</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The following table shows the balance sheet positions of these operations as of December 31, 2022 and 2021, as well as the current guarantees and other off-balance sheet positions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BBVA</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans, capital contributions and others (borrower)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans and capital contributions (lender)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Factoring operations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guarantees</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">147&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CaixaBank</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans, capital contributions and others (borrower)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">145&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans and capital contributions (lender)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Factoring operations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guarantees</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">160&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">190&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">Other related parties </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The most significant balances and transactions with associates and joint ventures are detailed in Note 10.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">During 2022 and 2021, the Directors and senior executives performed no transactions with Telef&#243;nica, S.A. or any Telef&#243;nica Group company other than those in the Group&#8217;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. </span></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Telef&#243;nica contracted a civil liability insurance scheme (D&amp;O) for Directors, managers and staff with similar functions in the Telef&#243;nica Group, with standard conditions for these types of insurance and a premium attributable to 2022 of 6,598,467 euros </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">(</span>5,303,931 euros in 2021). This scheme provides coverage for Telef&#243;nica, S.A. and its subsidiaries in certain cases.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related parties.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Section Disclosures<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS24_g13-24__IAS24_g13-24_TI<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798979472">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Assets and Other Non-current Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsExplanatory', window );">Financial Assets and Other Non-current Assets</a></td>
<td class="text">Financial assets and other non-current assets <div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets and other non-current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:59.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.323%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.570%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other long-term credits </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative financial assets (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,882</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,285</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred expenses (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">854&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">555&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term receivables for taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">299&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">324&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,347</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Non-current financial assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in investments, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2022 and 2021, is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:31.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.212%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other long-term credits</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deposits and guarantees</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term receivables for subleases</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment of trade receivables</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">457</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">252</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,633</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">551</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(122)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">686&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">540&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(272)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments and financial updates</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(561)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(65)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">479</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">890</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">752</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">503&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">616&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(74)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(94)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments and financial updates</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(197)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/22</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">497</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">981</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(128)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investments </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Investments&#8221; includes the fair value of investments in companies where Telef&#243;nica exercises no significant influence or control and for which there is no specific short-term disposal plan (see Note 3.i).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounted to 249 million euros (232 million euros at December&#160;31, 2021), representing 0.73% of its share capital at December&#160;31, 2022 (0.66% at December 31, 2021).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, Telef&#243;nica maintained a 0.59% stake in the share capital of China Unicom (Hong Kong) Limited, valued at 105 million euros (same percentage at December&#160;31, 2021, valued at 80 million euros).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 19, 2022 Telef&#243;nica signed an agreement with the company Global Alconaba, S.L., for the sale of 50,147,058 shares of Promotora de Informaciones, S.A. (PRISA), equivalent to 7.076% of its share capital. As a result of this sale, 71 million euros of losses from financial assets measured at fair value through comprehensive income have been reclassified to retained earnings. As of December 31, 2022 Telef&#243;nica's shareholding in PRISA amounted to 1.87% of the company's share capital and was valued at 4 million euros (9.03% at December 31, 2021 valued at 36 million euros). </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other long-term credits  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This line item includes long-term financial assets of Telef&#243;nica Germany amounting to 104 million euros and 85 million euros at December 31, 2022 and 2021, respectively, that are mainly intended to cover obligations from the defined benefit plan of Telef&#243;nica Germany but do not represent "plan assets" in accordance with IAS 19 (see Note 24).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions for the year 2022 include financial instruments (Federal Treasury Certificates) of Pegaso PCS, S.A. de C.V. amounting to 260 million euros, for the purpose of securing certain legal proceedings with the Mexican tax Administration Service. These instruments are classified as long-term based on the estimated term of the proceedings and accrue interest according to the time elapsed (see Note 28).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, additions for the year 2022 include 82 million euros of loans granted by Colombia Telecomunicaciones, S.A. ESP BIC to the associate company &#193;lamo Holdco, S.L. (see Note 10).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 other long-term credits include 75 million euros corresponding to the subordinated debt granted by Telef&#243;nica Chile to the associate company HoldCo Infraco, SpA. generated by the sale of 40% of the fiber optic business (87 million euros as of December 31, 2021, see Note 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" in 2021 included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire") deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of 1,000 million dollars of which 295 million euros are registered as "Other long-term credits" and 591 million euros were registered as "other current financial assets". Transfers for the year 2022 include the short-term transfer of the notes mentioned above for an amount of 313 million euros, all of which were registered at December 31, 2022 in "Other current financial assets" for an amount of 939 million euros (see Note 15).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally in 2021, Telxius recorded additions amounting to 246 million euros associated with the collection right arising with </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">American Tower Corporation as a result of the sale of the telecommunications towers division in Europe (Spain and Germany) in June 2021. At December 31, 2022 the collection right amounted to 264 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deposits and guarantees</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil has non-current judicial deposits amounting to 501 million euros (see Note 24) at December 31, 2022 (431 million euros at December 31, 2021).   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, there were deposits related to the collateral guarantees on derivatives (CSA) signed by Telef&#243;nica, S.A. and its counterparties for the credit risk management of derivatives amounting to 365</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros of which </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42 million euros cross currency swap (564 million euros at December 31, 2021 that included 279 million euros related to cross currency swap).    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation with collateral contracts, in 2022 there is an additional guarantee of 79,034</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> b</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">onds issued by Telef&#243;nica Emisiones, S.A.U. deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of 78 million euros at December 31, 2022 (166,678 bonds for a nominal amount of 173 million euros at December 31, 2021).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Trade receivables</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" for the year in 2022 include trade receivables amounting to 69 million euros from Colombia Telecomunicaciones, S.A. ESP BIC to the associate Onnet Fibra Colombia SAS, 59 million euros at December 31, 2022, see Note 10.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 includes Telef&#243;nica Germany trade receivables at fair value through other comprehensive income for an amount of 292 million euros (269 million euros as of December 31, 2021, see Note 16).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2022 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:14.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.351%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.844%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.503%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">323</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,404</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">464</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">465&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">390&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">896&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,404&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">727&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">405</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">466</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">181</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,513</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15,325</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,439&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,231&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,340&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">728</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,183</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">645</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">18,002</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2021 was as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.257%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.358%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">506</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,301</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,148</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,534</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">452&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">372&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">882&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">471&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,301&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">483&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">640&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">218</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">956</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">908</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">160</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,923</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,235</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">917&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">918&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,516&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,434&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6,903&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d6d6d6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">908&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">160&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,005&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,670&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">724</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,225</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">540</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">5,071</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,769</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788489648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InventoriesAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInventoriesExplanatory', window );">Inventories</a></td>
<td class="text">Inventories<div style="margin-bottom:7pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of inventories of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows: </span></div><div style="margin-bottom:7pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:56.733%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.983%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.984%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audiovisual rights</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">823&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,131&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mobile terminals and other equipments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">701&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">584&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other inventories</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories impairment provision</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Inventories</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,546</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,749</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"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).</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventories.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS02_g36-39__IAS02_g36-39_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inventories [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489879240736">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Receivables and Other Current Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory', window );">Receivables and Other Current Assets</a></td>
<td class="text">Receivables and other current assets<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of receivables and other current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:65.225%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.737%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.738%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,903</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,680&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,926&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">387&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,794</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,384</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capitalized costs (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">714&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">583&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,134</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,287</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The movement in impairment of trade receivables in 2022 and 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2020</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,549</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inclusion of companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(545)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,531</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">613&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(397)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2022</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,891</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Public-sector net trade receivables at December&#160;31, 2022 and 2021 amounted to </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">518</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros and 439 million euros, respectively.    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2022 and 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:41.066%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.687%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.566%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.784%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.397%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unbilled receivables</span></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,495&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,316&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amount not overdue invoiced</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,011&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,976&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(114)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less than 90 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,024&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(160)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">893&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(141)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 90 and 180 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">347&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">333&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(125)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 180 and 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">534&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(381)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(306)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">More than 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,269&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,037)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,992&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,829)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,680</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,891)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,926</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,531)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>Other current financial assets<div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of other financial assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:59.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.323%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.570%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term credits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,306&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">439&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">760&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term derivative financial assets (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">995&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">774&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,444</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,835</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term credits at December 31, 2021, included bank deposits with a maturity in one month formalized by Telfisa Global, B.V. which amounted to 1,190 million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term deposits and guarantees at December 31, 2022 include current judicial deposits amounting to 106 million euros (see Note 24) constituted by Telef&#243;nica Brazil (17 million euros at December 31, 2021) including the judicial deposit of the amount withheld from the acquisition price of OI's mobile assets, in the amount of 522 million Brazilian reais (94 million euros, see Note 5).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2021, 433 million euros of deposits maturing in more than 90 days from Telef&#243;nica M&#243;viles Chile were included, contracted with the funds obtained from the issue in November 2021 of a bond (see Appendix III).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally at December 31, 2022 there were 232 million euros registered in deposits (150 million euros at December 31, 2021), associated with collateral guarantees of Telef&#243;nica, S.A. classified as current according to the maturity of the underlying derivative instruments which they relate to</span><span style="color:#50535a;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Other current financial assets" include short-term investments in financial instruments to cover commitments undertaken by the Group&#8217;s insurance companies, amounted to 126 million euros at December&#160;31, 2021 (105 million euros at December&#160;31, 2021) and were recorded at fair value.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally at December 31, 2022 this included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire"). These notes were deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of 1,000&#160;million dollars equivalent to 939 million euros registered entirely under "Other current financial assets". At December 31, 2021 1,000 million dollars were deposited, of which 591 million euros were registered as "Other current financial assets" and 295 million euros were registered as "Other long-term credits" (see Note 12).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8220;Cash and cash equivalents&#8221; on the accompanying consolidated statement of financial position.</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Current Financial Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory', window );">Other Current Financial Assets</a></td>
<td class="text">Receivables and other current assets<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of receivables and other current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:65.225%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.737%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.738%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,903</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,680&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,926&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">387&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,794</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,384</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capitalized costs (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">714&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">583&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,134</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,287</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The movement in impairment of trade receivables in 2022 and 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2020</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,549</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inclusion of companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(545)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,531</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">613&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(397)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2022</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,891</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Public-sector net trade receivables at December&#160;31, 2022 and 2021 amounted to </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">518</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros and 439 million euros, respectively.    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2022 and 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:41.066%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.687%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.566%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.784%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.397%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unbilled receivables</span></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,495&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,316&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amount not overdue invoiced</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,011&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,976&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(114)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less than 90 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,024&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(160)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">893&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(141)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 90 and 180 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">347&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">333&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(125)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 180 and 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">534&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(381)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(306)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">More than 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,269&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,037)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,992&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,829)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,680</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,891)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,926</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,531)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>Other current financial assets<div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of other financial assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:59.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.323%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.570%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term credits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,306&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">439&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">760&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term derivative financial assets (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">995&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">774&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,444</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,835</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term credits at December 31, 2021, included bank deposits with a maturity in one month formalized by Telfisa Global, B.V. which amounted to 1,190 million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term deposits and guarantees at December 31, 2022 include current judicial deposits amounting to 106 million euros (see Note 24) constituted by Telef&#243;nica Brazil (17 million euros at December 31, 2021) including the judicial deposit of the amount withheld from the acquisition price of OI's mobile assets, in the amount of 522 million Brazilian reais (94 million euros, see Note 5).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2021, 433 million euros of deposits maturing in more than 90 days from Telef&#243;nica M&#243;viles Chile were included, contracted with the funds obtained from the issue in November 2021 of a bond (see Appendix III).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally at December 31, 2022 there were 232 million euros registered in deposits (150 million euros at December 31, 2021), associated with collateral guarantees of Telef&#243;nica, S.A. classified as current according to the maturity of the underlying derivative instruments which they relate to</span><span style="color:#50535a;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Other current financial assets" include short-term investments in financial instruments to cover commitments undertaken by the Group&#8217;s insurance companies, amounted to 126 million euros at December&#160;31, 2021 (105 million euros at December&#160;31, 2021) and were recorded at fair value.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally at December 31, 2022 this included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire"). These notes were deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of 1,000&#160;million dollars equivalent to 939 million euros registered entirely under "Other current financial assets". At December 31, 2021 1,000 million dollars were deposited, of which 591 million euros were registered as "Other current financial assets" and 295 million euros were registered as "Other long-term credits" (see Note 12).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8220;Cash and cash equivalents&#8221; on the accompanying consolidated statement of financial position.</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other current assets. [Refer: Other current assets]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788489648">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Breakdown of Financial Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory', window );">Breakdown of Financial Assets</a></td>
<td class="text">Breakdown of financial assets<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2022 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:14.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.351%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.844%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.503%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">323</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,404</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">464</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">465&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">390&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">896&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,404&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">727&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">405</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">466</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">181</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,513</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15,325</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,439&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,231&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,340&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">728</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,183</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">645</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">18,002</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:5pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of the fair values of the Telef&#243;nica 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. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2021 was as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.257%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.358%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">506</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,301</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,148</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,534</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">452&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">372&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">882&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">471&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,301&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">483&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">640&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">218</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">956</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">908</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">160</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,923</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,235</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">917&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">918&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,516&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,434&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6,903&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d6d6d6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">908&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">160&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,005&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,670&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">724</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,225</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">540</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">5,071</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,769</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix IV: Financial instruments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the net financial debt arranged by the Group (notional amount) by currency and interest rates at December 31, 2022 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.338%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euro</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8,499)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,066</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,500</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,707</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,344</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,461</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,715</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,933&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,770&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">206&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,095&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,955&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,079&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,129&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,208&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.04&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.05&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,432)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,028&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,937&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,814&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,183&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,382&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,875)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,507&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other european currencies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CZK</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in GBP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">598</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">922</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(325)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">597</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">610&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(324)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CHF</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">America</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(982)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">49</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,878)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(937)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,038</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13,937)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(899)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,874)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">329&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.47&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(975)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,071)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,709&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13,783)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,074)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in UYU</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">97</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">119</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:15.737%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.513%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.367%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.927%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.002%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.513%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.270%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.002%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.958%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in ARS</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(222)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(226)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(232)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(232)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(222)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(232)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(232)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61.15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,125</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">796</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">367</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,412</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">868</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,478</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(220)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">796&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,067&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,098&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,339&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,380&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CLP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">428</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">184</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,287</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(234)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,523</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,289</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">441&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">476&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">455&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">846&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,047&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">834&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.04&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in UFC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in PEN</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">294</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">820</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">474</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">349</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">823</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">804&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">458&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">349&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">807&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.08&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in VAC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.05&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in COP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">459</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">806</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">339</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">483</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">822</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(248)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">335&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">467&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">543&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">545&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.09&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.72&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in VEB</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.951%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.541%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.902%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.008%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.712%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.051%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.584%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.456%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.677%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in MXN</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(246)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">87</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(240)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">227</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(246)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(255)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">227&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.88&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25,994</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,699</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,012)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,687</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,989</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,784</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,553</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,337</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed rate</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,915</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13,565)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Includes all net financial debt adjustments</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below 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, 2022:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non trading accountant purposes</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">482</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">595</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,974)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,778)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,195)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,215)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(325)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,632)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,119)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,894)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,974&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,632&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(113)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(715)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(470)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(477)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,187)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,144)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,148)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">715&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">470&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">477&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,144&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,035&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.75&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">USD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(319)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(478)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(161)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(703)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(862)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(869)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">862&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">849&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.24&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.52&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.66&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,292)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,500)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(125)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,925)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,650)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,476)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,925&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,650&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,651&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,467)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(354)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,604)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,608)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,566)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,291)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.02&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,604&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,608&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,566&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,824&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.88&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">USD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">756</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">756</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(822)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(83)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(423)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,757)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,590)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,532)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,207)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,396)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">822&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">423&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,757&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,590&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,207&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.03&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.78&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.92&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GBP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(434)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">450&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CLP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">COP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(116)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(467)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(497)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(507)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">467&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">391&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.19&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.09&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.48&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#ffffff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> rte options, by maturity, are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.599%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:17.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.640%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.684%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.836%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency swaps</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(282)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(282)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(335)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(460)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(795)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(734)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,536&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,542&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,078&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(673)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(80)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,352)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,966)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,907)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,024)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,015&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">JPY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">JPY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">517&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,883&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,934&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,659&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,373&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,665)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(468)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,529)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,662)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">483</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">665</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (0.83), EUR/USD (1.13) and USD/COP (3,742.44).</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:17.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.640%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.684%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.836%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="6" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Forwards</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">213&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">213&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,587)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,587)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(740)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(768)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,583&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,583&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(796)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(796)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(236)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,962&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,165)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,165)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (0.87), EUR/USD (1.03), USD/COP (4,660.76) and EUR/BRL (5.58).</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788489648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareCapitalReservesAndOtherEquityInterestAbstract', window );"><strong>Share Capital, Reserves And Other Equity Interest [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory', window );">Equity</a></td>
<td class="text">Equity<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Share capital and share premium</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, Telef&#243;nica, S.A.&#180;s share capital amounted to 5,775,237,554 euros and is divided into 5,775,237,554 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors of Telef&#243;nica, S.A. at its meeting held on April 8, 2022, has resolved to carry out the implementation of the share capital reduction through the cancellation of own shares approved by the Annual General Shareholders&#8217; Meeting held on April 8, 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2022, the share capital of Telef&#243;nica, S.A. was reduced in the amount of 139,275,057 euros, through the cancellation of 139,275,057 own shares of the Company held as treasury stock, with a nominal value of one euro each. The share capital of the Company resulting from the reduction was set at 5,639,772,963 euros corresponding to 5,639,772,963 shares with a nominal value of one euro each. Related to the capital reduction the share premium was reduced by 409 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reduction did not entail the return of contributions to the shareholders since the Company is the owner of the cancelled shares. The reduction was carried out with a charge to unrestricted reserves, through the allocation of a reserve for cancelled share capital in an amount equal to the nominal value of the cancelled shares (i.e. for an amount of 139,275,057 euros), which may only be used in compliance with the same requirements as those established for the reduction of share capital, by application of the provisions of section 335. c) of the Spanish Companies Act. Accordingly, as laid down in such section, the creditors of the Company will not have the right to oppose the reduction mentioned in section 334 of the Spanish Companies Act in connection with the share capital reduction.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 22, 2022, the deed relating to the share capital reduction was registered in the Commercial Registry of Madrid.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 24, 2022 the deed of capital increase amounting to 135,464,591 euros, divided into 135,464,591 ordinary shares, with a nominal value of one euro each, and issued against reserves as part of the scrip dividend, was filed in the Madrid Commercial registry. Following the share capital increase, the share capital was set up at 5,775,237,554 euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The shares of Telef&#243;nica, 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).  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2021, Telef&#243;nica, S.A.&#180;s share capital amounted to 5,779,048,020 euros and is divided into 5,779,048,020 common shares, of a single series and with a par value of 1 euro each, fully paid in.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors of Telef&#243;nica, S.A. at its meeting held on April 23, 2021, resolved to carry out the implementation of the share capital reduction through the cancellation of own shares approved by the Annual General Shareholders&#8217; Meeting held on April 23, 2021.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The share capital of Telef&#243;nica, S.A. was reduced in the amount of 82,896,466 euros, through the cancellation of 82,896,466 own shares of the Company held as treasury stock, with a nominal value of one euro each. The share capital of the Company resulting from the reduction was set at 5,443,534,596 euros corresponding to 5,443,534,596 shares with a nominal value of one euro each. Related to the capital reduction the share premium was reduced by 305 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reduction was carried out with a charge to unrestricted reserves, through the allocation of a reserve for cancelled share capital in an amount equal to the nominal value of the cancelled shares (i.e. for an amount of 82,896,466 euros), which may only be used in compliance with the same requirements as those established for the reduction of share capital. Accordingly, the creditors of the Company did not have the right to oppose the reduction mentioned in section 334 of the Spanish Companies Act in connection with the share capital reduction.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 5, 2021, the deed relating to the share capital reduction was registered in the Commercial Registry of Madrid.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 22, 2021 the deed of capital increase amounting to 194,518,911 euros, divided into 194,518,911 ordinary shares, with a nominal value of one euro each, and issued against reserves as part of the scrip dividend, was filed in the Madrid Commercial registry. Following the share capital increase, the share capital was set up at 5,638,053,507 euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 3, 2021, the Board of Directors agreed to submit for the approval of the General Shareholders Meeting of the Company the adoption of the appropriate corporate resolutions to execute a capital reduction by means of a redemption of treasury shares representing approximately 1.65% of the share capital.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 23, 2021, the capital increased in the amount of 140,994,513 euros, in which 140,994,513 ordinary shares with a par value of one euro each were issued against reserves as part of the scrip dividend. Following the share capital increase, the share capital was set at 5,779,048,020 euros. On that date, the deed was filed in Madrid Companies' Register.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Authorizations by Shareholders&#8217; Meeting</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As regards the authorizations conferred in respect of the share capital, the shareholders acting at the Ordinary General Shareholders&#8217; 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&#8217; 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 2022, the Board would be authorized to increase the share capital by the maximum nominal amount of 2,596,065,843 euros. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, the shareholders acting at the Ordinary General Shareholders&#8217; Meeting of Telef&#243;nica, 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&#8217;s By-Laws,  the power to issue securities, including preferred shares and 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.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, under the aforementioned delegation resolution, the shareholders at the Ordinary General Shareholders&#8217; Meeting of Telef&#243;nica, S.A. resolved to authorize the Board of Directors to guarantee, in the name of </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, on June 8, 2018, shareholders voted to authorize the acquisition by the Board of Directors of Telef&#243;nica, S.A. treasury shares, up to the limits and pursuant to the terms and conditions established at the Shareholders&#8217; 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 Telef&#243;nica, S.A. and by any of its controlled subsidiaries, exceed the maximum legal percentage at any time. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b) Dividends</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends distribution in 2022</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Approval was given at the General Shareholders&#8217; Meeting of April 8, 2022 to pay a dividend in two tranches. The first tranche through a scrip dividend amounting to approximately 0.15 euros per share took place on June 2022 and consist on the assignment of free allotment rights with an irrevocable purchase commitment by the Company. The  second tranch amounting to approximately 0.15 euros per share took place in December 2022, after the adoption of the corresponding corporate resolutions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting held on May 25, 2022, the Executive Commission of Telef&#243;nica, S.A. 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 Telef&#243;nica 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 25.54% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. The payment to these shareholders was made on June 16, 2022. The gross impact of this dividend amounts to 213 million euros. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of 74.46% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of shares issued on June 24, 2022 in the capital increase was 135,464,591 shares with a nominal value of 1 euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The second tranch of the dividend was paid on December 15, 2022 and had an impact in equity amounting to 854 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends distribution in 2021</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Approval was given at the General Shareholders&#8217; Meeting of April 23, 2021 to pay a scrip dividend amounting to approximately 0.35 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 tranch, amounting approximately 0.20 euros per share, took place in June of 2021 and the second tranch amounting approximately 0.15 euros per share took place in December 2021, after the adoption of the corresponding corporate resolutions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting held on May 26, 2021, the Executive Commission of Telef&#243;nica, S.A. 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 Telef&#243;nica 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 28.53% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. Cash payment to these shareholders was made on June 17, 2021. The gross impact of this dividend amounts to 308 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of 71.47% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of shares issued after June 22, 2021 in the capital increase was 194,518,911 shares with a nominal value of 1 euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Executive Commission of Telef&#243;nica, S.A. Board of Directors meeting of November 3, 2021 agreed the implementation of the second capital increase with charge to reserves related to the shareholder compensation by means of a scrip dividend. Thus, each shareholder received 1 free allotment right for each Telef&#243;nica share held. The shareholders of 34.98% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. Cash payment was made on December 17, 2021 and had an impact in equity amounting to 292 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of 65.02% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, S.A. So the final number of shares issued on December 23, 2021 in the capital increase was 140,994,513 shares with a nominal value of one  euro each.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Dividends distribution in 2020</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Approval was given at the General Shareholders&#8217; 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica 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-ofcharge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#243;nica, S.A. Cash payment was made on July 3, 2020 and had an impact in equity amounting to 371 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of 63.01% of the free of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Executive Commission of Telef&#243;nica, 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 Telef&#243;nica, S.A. Cash payment was made on December 30, 2020 and had an impact in equity amounting to 342 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the shareholders of 66.88% of the free of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#243;nica, 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Proposed distribution of results of the parent company </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. generated 880 million euros of losses in 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s Board of Directors will submit the following proposed distribution of 2022 results for approval at the Shareholders&#8217; Meeting:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal reserve</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unrestricted reserves</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(880)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(880)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Other equity instruments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Undated deeply subordinated securities</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless specified otherwise, undated deeply subordinated securities were issued by Telef&#243;nica Europe, B.V. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.856%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.052%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.030%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Issue date</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Annual&#160;<br/>Fix&#160;&#160;&#160;&#160;&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variable</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exercisable by issuer</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tender Offer</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount repurchased</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Redemption</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/23/2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.125&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 11/23/28 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/24/2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/24/28 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2/12/2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.376&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/12/29 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2/5/2020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.502&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/05/27 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/24/2019</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 09/24/27 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/14/2019</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 03/14/25 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,300&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,300&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:36pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/22/2018</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 12/04/23 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(74)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:38pt"><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 09/22/26 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2026</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/07/2017</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.625&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 06/07/23 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">676&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">676&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(547)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(129)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2014</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 03/31/24 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Green undated deeply subrodinated securities (see Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Sustanible undated deeply subordinated securities (see Nota 29.d)</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In all issuances of undated deeply subordinated securities (hybrid instruments), the issuer has an option to defer the payment of coupons and holders of such securities cannot call for payment. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As the repayment of principal and the payment of coupons depend solely on Telef&#243;nica&#8217;s decision, these undated deeply subordinated securities are equity instruments and are presented under &#8220;Other equity instruments&#8221; in the accompanying consolidated statement of changes in equity. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2022, Telef&#243;nica Europe, B.V. carried out several transactions on its hybrid capital: (a) a new issue amounting to 750 million euros, guaranteed by Telef&#243;nica, S.A. (see Note 29.d); (b) a tender offer on a hybrid instruments, denominated in euros, with first call dates in March and September 2023. The issuer accepted the purchase in cash of the tendered securities in a principal amount of 621 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In December 2022, Telef&#243;nica Europe, B.V. was exercised the clean-up call option for the remaining hybrid instruments with first non-call date March 2023, with an aggregate principal amount of 129 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2022, the payment of the coupons related to hybrids instruments, in an aggregate amount, net of tax effects, of 201 million euros (263 million and 335 million euros in 2021 and 2020, respectively), was recorded as &#8220;Retained earnings&#8221; in the consolidated statements of changes in equity.  In 2022 and 2021, the payments related to the undated deeply subordinated securities include the premium of the tender offers carried out in these periods amounting to -1 million euros and 61 million euros, respectively. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d) Legal reserve</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 of December 31, 2022 the legal reserve amounts to 1,059 million euros representing 18.34% of the share capital at the date.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e) Retained earnings</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These reserves also include revaluation reserves and the reserve for canceled share capital. These reserves are regulated by some restrictions for their distribution. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revaluation reserves</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, 4 million euros were reclassified to &#8220;Retained earnings&#8221; in 2022 (4 million euros in 2021) corresponding to revaluation reserves subsequently considered to be unrestricted. At December&#160;31, 2022, this reserve amounted to 54 million euros (58 million euros at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reserve for canceled share capital</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 2022 was recorded in this account 139 million euros (83 million euros in 2021). The cumulative amount as of December 31, 2022 is 954 million euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">f) Translation differences</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the accumulated contribution of translation differences attributable to equity holders of the parent at December 31 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,031)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,292)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,365)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(322)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">309&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,344)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Venezuelan bolivar</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,734)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,755)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,754)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentine peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,364)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,702)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,178)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,272)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,452)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,339)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20,723)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21,892)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25,980)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The negative translation differences of Telef&#243;nica United Kingdom accumulated in equity at June 1, 2021 were reclassified to the 2021 income statement as a result of the establishment of VMED O2 UK Ltd (see Note 2), for an amount of 3,135 million euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Likewise, the negative translation differences associated with the sale of the Telxius Group tower divisions and Telef&#243;nica de Costa Rica were also reclassified to the income statement for the amount of 37 and 21 million euros, respectively.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">g) Treasury share instruments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. held the following treasury shares at December&#160;31, 2022, 2021 and 2020: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:34.478%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.541%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.516%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.784%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.786%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros per share</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition price</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading price</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Market value </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/22</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85,217,621&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.00&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.39&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.476&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139,329,370&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.92&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.411&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/20</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98,231,380&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.84&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.25&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.777&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Millions of euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following transactions involving treasury shares were carried out in 2022, 2021 and 2020:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:76.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.009%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/19</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77,562,635</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68,640,303&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,252,817&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,118,898)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(51,105,477)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/20</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">98,231,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122,032,764&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,291,518&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,329,826)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(82,896,466)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">139,329,370</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,403,530&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">563,415&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,391,956)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(139,275,057)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sales</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(411,681)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/22</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">85,217,621</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were treasury shares purchases in 2022 amounting to 365 million euros (478 and 234 million euros in 2021 and 2020, respectively)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 28, 2020, Telef&#243;nica de Contenidos, S.A.U. (currently Telef&#243;nica Espa&#241;a Filiales, S.A.) acquired 50% of the capital stock of Prosegur Alarmas, S.L. with an in-kind delivery of 49,545,262 Telef&#243;nica shares, previously acquired to the Company, equivalent to 266 million euros as of the quotation on the delivery date included in "other movements".</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2022, the third cycle of the Telef&#243;nica, S.A long-term incentive plan called "Performance Share Plan 2018-2022" and "Talent for the Future Share Plan 2018-2022" (see Note 27) ended.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also has different derivative instruments, to be settled by offset, on a nominal value equivalent to 193 million of Telef&#243;nica shares recorded in the statement of financial position at December 31, 2022 in accordance with their maturity date and fair value (192 million euros at December 31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">h) Equity attributable to non-controlling interests</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Equity attributable to non-controlling interests&#8221; 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:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:20.422%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span id="i9f2959ad79be455a9c5930d238bb2be3_0-4-1-1-510442"/><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Profit/(loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in translation differences</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/22</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(241)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">425&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,399&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,353&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(161)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,237&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones, S.A., ESP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">409&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">546&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">599&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(178)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(411)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">308</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">393</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,620</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:20.422%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Profit/(loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in translation differences</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(236)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,346&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(56)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(165)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">218&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,353&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones, S.A., ESP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">409&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,645)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">546&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,025</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(119)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,051)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:20.422%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/19</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Profit/(loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in translation differences</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,442&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(272)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,296)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(156)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,346&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones, S.A., ESP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">526&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(67)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">681&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">323&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,332</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">321</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(516)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">375</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,435)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(49)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,025</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, "sales of non-controlling interest and inclusion of companies" reflected the impact of the acquisition by the consortion form by CAA and Vauban of 45% of the company Bluevia for 23 million euros (see Note 2).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 noteworthy is the result attributable to minority shareholders of Telxius from the sale of its telecommunications towers division (see Note 2) and the dividend distribution related with this transaction (Note 28).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020, "Sales of non-controlling interests and inclusion of companies" reflected 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.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group with non-controlling interests, namely Telef&#243;nica Brazil and Telef&#243;nica Germany. The detail of these figures for Colombia Telecomunicaciones and Telxius Telecom is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,517&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,312&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">569&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">413&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">438&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(308)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(314)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(325)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital Expenditure</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">156&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,696&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,725&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,001&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,878&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,049&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.620%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">826&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">218&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(72)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(269)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,260&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital Expenditure</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">348&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">507&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">475&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">452&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,083&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,840&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,225&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,785&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The statements of cash flows of these companies are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,678&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,949&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,517&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,741)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,295)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,238)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,674)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,467)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,817)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(737)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">187</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">462</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,732&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,407&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,608)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(875)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(459)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,339)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,820)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,342)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(215)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(288)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">585</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">180&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(153)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(189)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(225)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(218)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(27)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(627)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">528&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,141)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,164)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">575&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">83</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(38)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share capital, reserves and other equity interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share capital, reserves and other equity interest [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489801980592">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory', window );">Financial Liabilities</a></td>
<td class="text">Financial liabilities<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial liabilities at December&#160;31, 2022 and the corresponding maturities schedule is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:30.177%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.982%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures and bonds</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,948&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,126&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,170&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,796&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,320&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Promissory notes &amp; commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">355&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,257</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,180</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,110</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,173</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,955</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32,167</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">673&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">572&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">376&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,360&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,010</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,817</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,421</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,069</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,742</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">35,059</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimate of future payments for interest on these financial liabilities at December 31, 2022 is as follows: 1,254 million euros in</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023, 1,147 million euros in 2024, 1,057 million euros in 2025, 978 million euros in 2026, 871 million euros in 2027 and 7,840 million euros in years after 2027. For floating rate financing, the Group mainly estimates future interest using the forward curve of the various currencies at December 31, 2022.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 (712 million euros, see Note 15) and non-current financial assets (2,668 million euros, see Note 12). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 and 2022, 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, 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> there was no outstanding balance pending payment.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> At December 31, 2021 the corresponding amount pending payment recognized in "Loans and other payables" line was 36 million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The deferred payments made in relation to this item during the year amounted to </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">41 million euros (108 million euros in 2021).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of the financial liabilities by category at December&#160;31, 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:19.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.702%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities at amortized cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,167&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,167&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,314&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,514&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">973&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,395&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total financial liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">973</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,395</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,368</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36,711</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36,196</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:20.976%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.263%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities at amortized cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,412&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,656&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">524&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,670&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,188&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,194&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,194&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total financial liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">524</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,670</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,188</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42,295</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,262</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of the fair values of the Telef&#243;nica Group&#8217;s debt instruments required an estimate of the credit spread curve for each currency and corresponding subsidiary using the prices of the Group&#8217;s bonds and credit derivatives. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, some of the financing arranged by Telef&#243;nica Group companies in Latin America (Peru), which amounted to approximately 1% of the Telef&#243;nica Group&#8217;s gross debt, was subject to compliance with certain financial covenants. To date, these covenants are being met and have no impact on the debt of the Telef&#243;nica Group companies. Due to the absence of cross-defaults, breach of the covenants would not affect the debt at Telef&#243;nica, S.A. level.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Some of the financial liabilities of Telef&#243;nica Group includes adjustments in the amortized cost at December 31, 2022 and 2021 as a result of fair value interest rate and exchange rate hedges. </span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Issues, promissory notes, commercial paper, loans and other payables </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in issues, promissory notes, commercial paper, loans and other payables in 2022 and 2021 arising from financial activities is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.636%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.771%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash used in financing activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash received</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash paid</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and exchange gains and losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial updates<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,920&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,746&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,541)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">724&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,623)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Promissory notes and commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,488&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(600)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">742&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,802)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">894&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:18.694%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.844%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.949%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.043%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.807%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash used in financing activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash received</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash paid</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and exchange gains and losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial updates<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,749&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,847)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">889&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(444)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,920&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Promissory notes and commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,042)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,488&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,535&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,120&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,178)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Debentures and bonds </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial updates of debenture and bond issues include mainly the value adjustment of the basis adjustment bonds due to their fair value hedges, impacted by interest rate hikes.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the nominal amount of outstan</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ding debentures and bonds issues was 31,095 million euros (32,156 million euros at December&#160;31, 2021). Appendix III presents the characteristics of all outstanding debentures and bond issues at the year-end 2022, and the significant issues made during the year. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. has a full and unconditional guarantee on issues made by Telef&#243;nica Emisiones, S.A.U., and Telef&#243;nica Europe, B.V., both of which are wholly owned finance subsidiaries of Telef&#243;nica, S.A. No other subsidiaries of Telef&#243;nica, S.A. provide guarantees on these issues.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Promissory notes and commercial paper </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main programs for issuance of promissory notes and commercial paper are the following: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">At December&#160;31, 2022, Telef&#243;nica Europe, B.V. had a commercial paper issuance program guaranteed by Telef&#243;nica, S.A. for up to 5,000 million euros. The outstanding balance of commercial paper issued under this program at December&#160;31, 2022 was 500 million euros, issued at an average interest rate of 0.28% for 2022 (999 million euros issued in 2021 at an average rate of -0.46%). </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">At December&#160;31, 2022, Telef&#243;nica, S.A. had a corporate promissory note program for 500 million euros expandable to 2,000 million euros, with no outstanding balance at December&#160;31, 2022 (30</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at December 31, 2021). </span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interest-bearing debt</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.3pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other movements in "Loans and other payables" at December 31, 2022 include collections and payments related to collateral liabilities deposit associated with Telef&#243;nica, S.A. debt for a net amount of 580 million euros (309 million euros at December 31, 2021).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The average interest rate on outstanding loans and other payables at December&#160;31, 2022 was 3.45% (1.30% in 2021). This percentage does not include the impact of hedges arranged by the Group. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions included under &#8220;Interest-bearing debt&#8221; line outstanding at December&#160;31, 2022 and 2021 and their nominal amounts are provided in Appendix V. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest-bearing debt arranged or repaid in 2022 mainly includes the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:20.664%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.080%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Limit 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Drawndown 2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayment 2022 (million euros)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones S.A. E.S.P.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%">On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">  </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the Telef&#243;nica Group presented availabilities of financing from different sources that amounted to approximately 11,737 million euros (12,182 million euros at December&#160;31, 2021), of which 11,434 million euros will mature in more than twelve months. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Within these availabilities of financing, 10,114 million euros are included, whose interests are linked to the fulfillment of sustainability objectives. Of these, 3,864 million euros correspond to committed lines and bilateral financing, 750 million euros correspond to the sustainable syndicated loan of Telef&#243;nica Germany GmbH &amp; Co. OHG (see Annex V) and 5,500 million euros correspond to the sustainable syndicated loan of Telef&#243;nica, S.A. (see Note 29.d).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Loans by currency </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Loans and other payables&#8221; line by currency at December&#160;31, 2022 and 2021, and the equivalent value of foreign-currency loans in euros, is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:30.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.883%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.883%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.883%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.887%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="12" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance (in millions)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Local Currency</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Euro</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,823&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,148&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,823&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,148&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. dollar</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">514&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">481&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">781&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,688&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">225&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">303&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,402,435&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,399,759&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">310&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,501&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguayan peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chilean Peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">181,601&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">177,845&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">186&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,544</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,693</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial instruments measured at fair value through profit or loss. [Refer: At fair value [member]; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788453312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory', window );">Derivative Financial Instruments and Risk Management Policies</a></td>
<td class="text">Derivative financial instruments and risk management policies<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main market risks affecting the Group companies are as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Exchange rate risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: arises primarily from: (i) Telef&#243;nica&#8217;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.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Interest rate risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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), (ii) the value of long-term liabilities at fixed interest rates and (iii) financial expenses and principal payments of inflation-linked financial instruments, considering interest rate risk as the impact of changes in inflation rates. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Share price risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Liquidity risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Country risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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 Telef&#243;nica Group operates, especially in Latin America.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Credit risk</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Risk management </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group actively manages these risks through the use of derivatives (primarily on exchange rates, interest rates, credit, 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 Telef&#243;nica Group&#8217;s solvency, facilitate financial planning and take advantage of investment opportunities. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group manages its exchange rate risk and interest rate risk in terms of net financial debt (including leases under IFRS 16) plus commitments as calculated by the Group. The Telef&#243;nica 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&#8217;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 Telef&#243;nica Group should be considered as a substitute for gross financial debt (the sum of current and non-current interest-bearing debt).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For a more detailed description on reconciliation of net financial debt and net financial debt plus commitments to gross financial debt, see Note 2.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exchange rate risk</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, the net financial debt in Latin American currencies was equivalent to approximately 6,360 million euros (6,853 million euros in 2021). 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 an economic hedge of exchange rate risks therefore depends on which currencies depreciate relative to the euro. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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, 2022, the Telef&#243;nica Group&#8217;s net financial debt denominated in dollars to hedge that component was equivalent to 978 million euros of asset position (418 million euros of asset position in 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, net financial debt in pounds sterling was equivalent to 597 million euros (374 million euros at December 31, 2021). As a consequence of setting up in June 2021 of the joint venture VMO2 (see Note 2), the previous objective of maintaining a debt in pounds sterling in the consolidated balance sheet of the Group of twice OIBDA has been modified, as a result of changing the consolidation of UK assets (VMO2 is registered by equity method) and incorporating VMO2 to leverage higher than the ratio of twice Debt OIBDA.  The synthetic debt target denominated in pounds will be directly related to the flows that are expected to be repatriated from VMO2. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 and collections in foreign currency, the actual value of the investments (subsidiaries) in currencies other than the euro. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, net foreign exchange results were obtained from the management of the exchange rate (excluding monetary correction) for a total negative net result of 23.4 million euros (negative net result of 0.2 million euros in 2021).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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%.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.181%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.999%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on the consolidated income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated equity</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">All currencies vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(314)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies vs EUR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(56)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin American currencies vs USD</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">All currencies vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10%)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">314</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10%)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies vs EUR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin American currencies vs USD</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10%)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group&#8217;s monetary position in Venezuela at December&#160;31, 2022 is a net asset position of 4,206 million Venezuelan digital bolivars equivalent to 87 million euros (240 million Venezuelan digital bolivars equivalent to 13 million euros at December&#160;31, 2021). The net monetary position exposure in 2022 has been an asset position, which led to a higher financial expense of 101 million euros due to the effect of the monetary correction for inflation during the year (24 million euros of income in 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interest rate risk</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to meet this target, Telef&#243;nica mainly carried out the following:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;a) The interest rate of borrowings tied to a variable interest rate was set. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;b) Interest rate fluctuations of debt tied to a variable interest rate were reduced. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;c) Fixed rate debt instruments were converted into variable market rate debt instruments. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s financial expenses are exposed to changes in interest rates. In 2022 the Euro, Brazilian Real, British Pound, American Dollar and Chilean peso were the short-term rates that accounted for most of the exposure. In nominal terms, at December&#160;31, 2022, 88.3% of Telef&#243;nica&#8217;s net financial debt was pegged to fixed interest rates for a period greater than one year, compared to </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">95.4%</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in 2021. Of the remaining 11.7% (net debt at floating rates or at fixed rates maturing within one year), no debt had interest rates bounded in a period over one year, the same as on December&#160;31, 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 increase in interest rates during the year has led to a decrease in the market value of these liabilities. However, this decrease was nearly completely offset by the decrease in the market value of the hedges on these positions. </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Net financial expenses amounted to 1,313 million euros in 2022, down  51 million euros compared to 2021, mainly due to extraordinary income related to the payment by the Spanish administration to the Group of delayed interest in connection with tax litigation in Spain, which more than offset the increase in the expenses due to the increase in interest rates and a higher level of debt denominated in Brazilian reais. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica has financial positions at December&#160;31, 2022, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica has financial positions at December&#160;31, 2022, 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. </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:56.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.733%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.022%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in basis points (bp)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated equity</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+100bp</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;-100bp</span></div></td><td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(61)</span></td><td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Share price risk</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group is exposed to changes in the value of equity investments, of derivatives associated with such investments, of share-based payments plans, of treasury shares and of equity derivatives over treasury shares. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to the share-based payments plans (see Note 27), the shares to be delivered to employees under such plan may be either Telef&#243;nica 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 Telef&#243;nica as a result of the higher number of shares delivered under such plan outstanding. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2018, the General Shareholder&#8217;s Meeting approved a Long-Term Incentive Plan allocated to Senior Executive Officers of the Telef&#243;nica Group consisting of the delivery of shares of Telef&#243;nica, 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. The first (2018) and the second (2019) of the three cycles matured on December 31, 2020 and on December 31, 2021 with a result of a delivery of shares to its participants in 2021 and in 2022, respectively.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021, the General Shareholder&#8217;s Meeting approved a new Long-Term Incentive Plan allocated to Senior Executive Officers of the Telef&#243;nica Group consisting of the delivery of shares of Telef&#243;nica, S.A. This plan has a total duration of five years and is divided into three mutually exclusive cycles of three years each. In January 2021 and in January 2022 two cycles have commenced and the last one will start in January 2023 (see Note 27). </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Finally, the 2022 Shareholder&#8217;s Meeting approved a Global Employee Incentive Share Purchase Plan for shares of Telef&#243;nica, S.A. for the Employees of the Telef&#243;nica Group, which is expected to deliver shares to its participants in 2024 (see Note 27</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:107%">).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">  </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To reduce the risk associated with variations in share price under these plans, Telef&#243;nica could acquire instruments that hedge the risk profile of some of these plans. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the Group may use part of the treasury shares of Telef&#243;nica, S.A. held at December 31, 2022 to cover shares deliverable under the outstanding Plans. The net asset value of the treasury shares could increase or decrease depending on variations in Telef&#243;nica, S.A.&#8217;s share price. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Liquidity risk</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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: </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">The Telef&#243;nica Group&#8217;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. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">The Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, the average maturity of net financial debt (26,687 million euros) was 13.11 years (including undrawn committed credit facilities).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, financial liabilities (Note 18) and lease liabilities (Note 20) scheduled to mature in 2023 amounted to 4,020 and 2,020</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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 2022, and c) undrawn credit facilities arranged with banks whose original maturity is over one year (an aggregate of 11,434 million euros at </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2022</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), providing flexibility to the Telef&#243;nica Group with regard to accessing capital or credit markets in the next two years. For a further description of the Telef&#243;nica Group&#8217;s liquidity and capital resources in 2022, see Note 18 and Appendix V.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Country risk</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group managed or mitigated country risk by pursuing two lines of action (in addition to its normal business practices): </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">Partly matching assets to liabilities (those not guaranteed by the Parent company) in the Telef&#243;nica Group&#8217;s Latin American companies such that any potential asset impairment would be accompanied by a reduction in liabilities; and </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt">Repatriating funds generated in Latin America that are not required for the pursuit of new, profitable business development opportunities in the region. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the first point, at December&#160;31, 2022, the Telef&#243;nica Group&#8217;s Latin American companies had net financial debt not guaranteed by the Parent company of 2,462 million euros, which represents 9.2% 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). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the net repatriation of funds to Spain, </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">693 million euros from Latin America companies have been received in 2022, of which 652 million euros was in the form of dividends. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Credit risk</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group trades in derivatives with creditworthy counterparties. Therefore, Telef&#243;nica, S.A. generally trades with credit entities whose &#8220;senior debt&#8221; ratings are of at least &#8220;A-&#8221; or in case of Spanish entities in line with the credit rating of the Kingdom of Spain. In Spain, where most of the Group&#8217;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 Telef&#243;nica, 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net CVA (CVA+DVA) or Credit Valuation Adjustment is the method used to measure credit risk for both counterparties and Telef&#243;nica 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 Telef&#243;nica and its counterparties. The simplified formula to calculate CVA is Expected Exposure times Probability of Default times Loss Given Default (LGD). In order to calculate these variables standard market practices are used. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time, and in order to address the credit risk, Telef&#243;nica considers the use of CDS, novations, derivatives with break clauses and signing CSA's under certain conditions. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For other subsidiaries, particularly those in Latin America, assuming a stable sovereign rating provides a ceiling which is below &#8220;A&#8221;, trades are with local financial entities whose rating by local standards is considered to be of high creditworthiness. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Meanwhile, with credit risk arising from cash and cash equivalents, the Telef&#243;nica 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). Additionally, for Treasury surpluses managed at Telef&#243;nica S.A, a criteria based on CDs has been added, similar to that used for the selection of counterparties to operate with derivatives, for the selection of counterparties for the placement of those surpluses. </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s maximum exposure to credit risk is initially represented by the carrying amounts of the financial assets and the guarantees given by the Telef&#243;nica Group. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Several Telef&#243;nica 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&#160;31, 2022, these guarantees amounted to approximately 6,657 million euros (6,192 million euros at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Capital management</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s corporate finance department takes into consideration several factors for the evaluation of the Telef&#243;nica&#8217;s capital structure, with the aim of maintaining the solvency and creating value to the shareholders. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group and its different areas. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interest rate benchmark reform and associated risks</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">During 2020 a fundamental reform of major interest rate benchmarks was launched globally, including the replacement of some interbank offered rates (IBORs) with alternative nearly risk-free rates (referred to as &#8216;IBOR reform&#8217;). 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.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During 2022, the transition has been made to the new reference indices affected as of December 31, 2022, except for the USD Libor, whose transition will be made in June 2023. In the 2022 financial year, thanks to the decisions agreed in 2021 to manage the changes in the GBP Libor and CHF Libor, there have been no impacts from those changes. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">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, 2022 and December 31, 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:56.502%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.098%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.100%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross notional in original currency (in millions)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate index/Tenor</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 3M</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,947&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,140&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 1M</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 6M</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Another relevant aspect of the reform is the need to incorporate substitute indexes (known as fallbacks) of the reference rates used into the contracts. In order to incorporate these substitute indexes into the contracts, The Group has decided not to adhere to the ISDA Protocol and has negotiated bilateral contracts with each affected counterparty during 2022 and 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Group will continue to apply the amendments of IFRS 9 until the uncertainty arising from the benchmark interest rate reforms with respect to the timing and amount of the underlying cash-flows to which the Group is exposed ends.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">In relation to the benchmark interest rate reform, IFRS regulations have incorporated information requirements on the exposure of entities to benchmark interest rates in the process of transition at the close of financial year 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">At December&#160;31, 2022 the book value of assets referenced to USD Libor rates amounts to 516 million euros (333 million euros at December 31, 2021) and the book value of financial liabilities including lease liabilities referenced to USD Libor rates amounts to 920 million euros (661 million euros at December 31, 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Derivatives policy</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the nominal value of outstanding derivatives with external counterparties amounted to 83,706 million euros equivalent, a 1% decrease from December&#160;31, 2021 (84,794 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main principles in the management of derivatives are detailed below: </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1) Derivatives based on a clearly identified hedged items. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica&#8217;s derivatives policy emphasizes the following points: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Acceptable underlyings include assets and liabilities, profits, revenues and cash flows in either a company&#8217;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&amp;E purchases, future debt issues, commercial paper programs, etc.). The acceptability of an underlying asset in the above cases </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2) Matching of the hedged item to one side of the derivative. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This matching basically applies to foreign currency debt and derivatives hedging foreign currency payments by Telef&#243;nica 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 Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3) Matching the company contracting the derivative and the company that owns the hedged item. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 (Telef&#243;nica, S.A. and Telef&#243;nica Latinoam&#233;rica 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 the chance of 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 Telef&#243;nica Group companies as well as those of the banks). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4) Ability to measure the derivative&#8217;s fair value using the valuation systems available to the Telef&#243;nica Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica uses several tools to evaluate and manage the risk involved in derivatives and debt. Among these tools are the Calypso system, extensively used in various financial institutions, and 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5) Sale of options only when there is an underlying exposure. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica considers the sale of options when: i) there is an underlying exposure (on the consolidated statement of financial position or associated with a highly probable cash outflow) that would offset the potential loss for the year if the counterparty exercised the option. This exposure does not have to be treated as a purchased option, but rather it can be another type of hedged item (in these cases, hedge accounting does not apply since this hedging instrument does not meet the criteria required by accounting standards to treat the sale of options as hedging instruments), or ii) the option is part of a structure in which another derivative offsets any loss. The sale of options is also permitted in option structures where, at the moment they are taken out, the net premium is either positive or zero. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For instance, it would be possible to sell short-term options on interest rate swaps that entitle the counterparty to receive a certain fixed interest rate, below the level prevailing at the time the option was sold. This would mean that if rates fell and the counterparty exercised its option, the Group would swap part of its debt from floating rate to a lower fixed rate, having received a premium. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6) Hedge accounting. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks that may qualify for hedge accounting are as follows: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in market interest rates (either money-market rates, credit spreads or both) that affect the value of the underlying asset or the measurement of the cash flows. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in exchange rates that change the value of the underlying asset in the company&#8217;s functional currency and affect the measurement of the cash flow in the functional currency. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in the valuation of any financial asset, particularly shares of companies included in the portfolio of &#8220;Equity instruments&#8221;. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Variations in the price of commodities related to contracts that the Group has with third parties. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the underlying: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Hedges can cover all or part of the value of the underlying. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The risk to be hedged can be for the whole period of the transaction or for only part of the period. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The underlying may be a highly probable future transaction, or a contractual underlying (loan, foreign currency payment, investment, financial asset, etc.) or a combination of both that defines an underlying with a longer term. </span></div><div style="margin-bottom:13.4pt;margin-top:13.4pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main coverage instruments used are: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Forwards / NDF: they are used mainly for exchange rate hedges related to commercial positions in foreign currency. They can also be used to hedge financing in foreign currency and net investment hedge in foreign currency. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Exchange Rate Options: in some cases, this type of instruments can be used linked to future CapEx and OpEx operations and investments and divestments in foreign currency. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Spots: for purchases and sales of currencies that are made same day value or two days&#8217; value. Generally used for operational needs or for divestments of operations in foreign currency. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Currency swaps: this type of transaction is generally executed to hedge bonds issuance or loans issued in foreign currency or net investment hedge. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Interest Swaps / Interest Rate Options: these instruments are used to manage the interest rate of the debt portfolio. Their use of them is ruled by the Financial Expenses Budget with the objective of its fulfillment. Both the volume to be contracted and the maturity of these products are determined by the underlying assets to be hedged. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is possible that in several markets the maturity, as well as the low liquidity, does not allow to contract a "perfect&#8221; hedge, but this circumstance will have to be analyzed case by case. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">CDS: in order to manage the counterparty credit risk or CVA / DVA, CDS operations can be arranged to mitigate this risk. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Derivatives of Commodities associated to: </span></div><div style="padding-left:108pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#9642;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:9.96pt">Price risk hedge (mainly Electricity) associated with the Group's own contracts.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:108pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9642;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">Supporting the business lines that may need it and always hedging the commercial risks of the signed contracts. They would be settled by differences, this is, in a non-deliverable format. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Equity Derivatives: these are derivatives that address strategic decisions or hedging needs, either to hedge future investments or hedge existing risks. They protect Telef&#243;nica from the potential appreciation or depreciation in the price of the shares they hold as underlying. </span></div><div style="margin-bottom:13.4pt;margin-top:13.4pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Between the hedged item and the hedging instrument there is an economic relationship, this is, in general terms they move in opposite directions due to the same risk or risk covered. In other words, there must be an expectation that the value of the hedging instrument and the value of the hedged item will change systematically in opposite directions in response to the movements of one of the following elements: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">the same underlying item; or </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Underlying items that are economically related in such sense that they respond similarly to the risk that is being hedged. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depending on the complexity of the hedge relationship and the way in which the hedge has been structured, a quantitative or qualitative analysis will have to be performed to demonstrate that there is an economic relationship between the hedged item and the hedging instrument. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This may on occasion mean that the hedging instruments have longer terms than the related contractual underlying. This happens when the Telef&#243;nica Group enters into long-term swaps, caps or collars to protect the Group against interest rate increases that may raise the financial expense of its promissory notes, commercial paper and some floating rate loans which mature earlier than their hedges. These floating rate financing programs are highly likely to be renewed and Telef&#243;nica commits to this by defining the underlying asset in a more general way as a floating rate financing program whose term coincides with the maturity of the hedge. In those cases in which the underlying assets representing the risk hedged are canceled or refinanced early, and if there is an open risk with similar characteristics as the underlying asset that was canceled or refinanced early, either because there is new financing or because there is an underlying asset with similar characteristics and risk profile, the hedge may remain in force with the derivatives assigned thereto and the risk will be subject to the hedge arranged in the aforementioned refinancing. When either of these situations occurs, the effectiveness of the hedge will be reviewed taking into account the new situation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There can be three types of hedges: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Fair value hedges. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Cash flow hedges. Such hedges can be set at any value of the risk to be hedged (interest rates, exchange rates, etc.) or for a defined range (interest rates between 2% and 4%, above 4%, etc.). In this last case, the hedging instrument used is options. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Hedges of net investment in consolidated foreign subsidiaries. Generally, such hedges are arranged by Telef&#243;nica S.A. and other Telef&#243;nica holding companies. Wherever possible, these hedges are implemented through real debt in foreign currency. Often, however, this is not always possible as many Latin American currencies are non-convertible, making it impossible for non-resident companies to issue local currency debt. It may also be that, due to the debt market deepness, the debt in the currency concerned is not enough to accommodate the required hedge, or that an acquisition is made in cash with no need for market financing. In these circumstances derivatives either forwards or cross-currency swaps are mainly used to hedge the net investment. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When using options, forwards or cross-currency swaps as hedging instruments, the exclusion of the time value of the option, the element at maturity of the forward and the currency spread of the cross-currency swap of the hedging relationship are evaluated on a case by case basis, in order to be treated as hedge costs. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Hedges can comprise a combination of different derivatives. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management of accounting hedges is not static, and the hedging relationship may change before maturity. The interruption of the hedge accounting is possible within the framework of the management of financial risks and described in the internal document of &#8220;financial risks management and hedging strategy under IFRS 9&#8221;. To gauge the efficiency of transactions defined as accounting hedges, the Group analyzes the extent to which the changes in the fair value or in the cash flows attributable to the hedged item would offset the changes in fair value or cash flows attributable to the hedged risk using a linear regression model prospectively. To evaluate the effectiveness of hedges, under IFRS 9, there is no numerical range under which it is accepted that a hedge is effective and hence the hedge accounting standards are applicable. Therefore, Telef&#243;nica considers that if there is an economic relationship, not dominated by changes in credit risk and if the appropriate hedging rationale has been designated, the requirements for effectiveness are met. However, at the moment when ineffectiveness arises, Telef&#243;nica will evaluate whether there is still an economic relationship or whether the designated hedging rationale is appropriate. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The possible sources of ineffectiveness that Telef&#243;nica can have when designing a hedging relationship and that will be considered when establishing the hedging rationale are: </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The hedging instrument and the hedged item have different maturity dates, initial dates, contract dates, repricing dates, etc. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The hedging instrument starts with initial value and a financing effect is produced. </span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">When the underlying items have different sensitivity and are not homogeneous, for example EURIBOR 3M versus EURIBOR 6M. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main guiding principles for risk management are laid down by Telef&#243;nica&#8217;s Finance Department and implemented by the company financial officers (who are responsible for balancing the interests of each company and those of the Telef&#243;nica Group). The Corporate Finance Department may allow exceptions to this policy where these can be justified, normally when the market is too thin for the volume of transactions required or on clearly limited and small risks. New companies joining the Telef&#243;nica Group as a result of mergers or acquisitions may also need time to adapt. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7) Cancellation of derivatives. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When a derivative transaction is canceled, the company may: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Cancel the derivative and pay its market value. </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Take the opposite position which cancels out the variability thereof, if cancellation costs are high or if it is recommended for operating or business reasons. </span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Breakdown of financial results</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the financial results recognized in 2022, 2021 and 2020 is as follows: </span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.181%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.999%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">384&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">191&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">894&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">174&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,303</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">379</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">356</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in fair value of asset derivatives at fair value through profit or loss</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">377&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">255&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in fair value of liability derivatives at fair value through profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(861)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(507)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value of debt instruments and other assets at fair value to profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer from equity of results of cash flow hedges - future cash flows that are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss)/Gain on fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,818)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(517)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">563&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain/(loss) on adjustment to items hedged by fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,763&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">527&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(525)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(533)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">118</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(217)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest expenses </span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,548)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,290)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,320)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses on lease liabilities (see Note 20)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(274)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(193)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ineffective portion of cash flow hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion of provisions and other liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(169)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(280)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(317)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(131)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,997)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,911)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,879)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net finance costs excluding foreign exchange differences and hyperinflation adjustments</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,227)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,414)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,740)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Other financial income" in 2022 includes 526 million euros corresponding to delayed interest after the Agreement for the Execution of the Judgment of the Audiencia Nacional issued on October 24, 2022 (see Note 25, Inspections of the tax group in Spain).</span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Other financial income" in 2022 included 139 million euros corresponding to the default interest as a result of the final decisions in favor of Telef&#243;nica Brazil about the right to deduct the ICMS from the calculation basis of PIS/COFINS (90 million euros and 85 million euros in 2021 and 2020, respectively, see Note 25).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"(Loss)/Gain on fair value hedges" includes mainly the impact on income of fair value hedges contracted by Telef&#243;nica, S.A., which are similarly reflected under "Gain/(loss) on adjustment to items hedged by fair value hedges" and therefore, have no significant net impact on the consolidated income statement. The increase in both items with respect to previous years is a consequence of the increase in interest rates. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The impact of hyperinflation on the net monetary position of the Group&#8217;s subsidiaries in Argentina amounted to 39&#160;million euros in 2022 (25 million euros in 2021 and 43 million euros in 2020) and is recorded under Exchange differences in the consolidated income statement. </span></div><div><span><br/></span></div><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Evolution of derivative instruments    </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of the net position of derivatives during the years ended December 31, 2022 and December 31, 2021 is as follows:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.626%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.036%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.038%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Movement in 2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Movement in 2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Opening balance of assets/(liabilities)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,573</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">715&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing proceeds</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest (proceeds)/payments</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">283&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(91)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other (proceeds)/payments</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments through other comprehensive income</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,031&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,733&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with counterparty in the income statement</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,649)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(538)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Closing balance of assets/(liabilities)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,012</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,573</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The variation in 2022 represents a decrease of 561 million euros of asset (increase of 1,560 million euros of liability in 2021) mainly due to the increase in dollar and euro interest rates and the evolution of the EUR/USD exchange rate. These variations are mostly by a similar impact and in the opposite direction in the hedge accounting of the different issuances and loans in dollar and euro currency of the Telef&#243;nica Group. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022 the derivatives portfolio amount a net positive value of 1,012 million euros (a net positive value of 1,573 as of December 31, 2021). This amount includes a net positive value of 638 million euros due to hedges (cross currency swaps) to transfer financial debt issued in foreign currency to local currency (a positive value of 188 million euros at December 31, 2021). </span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of the fair values of the Telef&#243;nica Group&#8217;s debt instruments required an estimate, for each currency and counterparty, of a credit spread curve using the prices of the Group&#8217;s bonds and credit derivatives. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The derivatives portfolio was measured through the techniques and models normally used in the market, based on money market curves and volatility prices available in the markets.  Additionally, the credit valuation adjustment or net CVA per counterparty (CVA+DVA) is calculated on that measurement as the method used to measure the credit risks of the counterparties and also Telef&#243;nica for the purpose of adjusting the fair value valuation of the derivatives. This adjustment reflects the possibility of bankruptcy or credit rating impairment of the counterparty and Telef&#243;nica. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivatives arranged by the Group at December&#160;31, 2022 are detailed in Appendix IV. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of Telef&#243;nica&#8217;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:   </span></div><div><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:26.303%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.517%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.504%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.504%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.934%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.790%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.933%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional amount - Maturities </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Book value of the derivative and no-derivative instruments </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Later</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments of accounting hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,034)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(77)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,237</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,242</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,404)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(466)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,317</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">78</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,475)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(795)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(123)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,590)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,506)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(211)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(187)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">446</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">57</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,114&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,117&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(26)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(798)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,704)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,623)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(185)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(183)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">438&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,340)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">34</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,284</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,978</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,742)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(213)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">711</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,176)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">744&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,824&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,602&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,742)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(57)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">704&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,065)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">837&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(52)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,921)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,921)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,543</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,770</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(66)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">160</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(356)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,234&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,461&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(445)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(436)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">309&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">309&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undesignated derivatives</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,964)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(479)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(525)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,363)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,331)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(264)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(246)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">706</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">267</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">463</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of interest rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,539)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(688)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(525)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,363)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,115)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(264)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">631&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">324&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of exchange rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,132)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,132)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(179)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">145&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">707&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">916&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total derivative instruments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,998)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(363)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(602)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(89)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,668)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(712)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,023</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">345</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,012)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivatives instruments of accounting hedges </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> For interest rate hedges, the positive amount is in terms of "fixed payment.&#8221; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.  </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Positive amounts indicate payables.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Of the hedging instruments that are not derivatives,141 million euros correspond to "Loans and other debts"" (see Note 18). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.862%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.672%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.392%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.392%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.825%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.965%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional amount - Maturities </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Book value of the derivative and no-derivative instruments </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Later</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments of accounting hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,020)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(904)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">98</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,805</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,979</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,301)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(908)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,438</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">232</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,539)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(801)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,860)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,599)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(914)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(480)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,368)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,060&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,124&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(801)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,920)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,723)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(469)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,348)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,021)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,824</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,848</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(131)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,124</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">228</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(24)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">318&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,824&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,193&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(102)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,124&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,548)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,548)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(62)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(129)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,841</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,730</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(142)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(297)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(147)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">189&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,228&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(97)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(104)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(251)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(247)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(498)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(193)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(238)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undesignated derivatives</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,254)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,187)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(303)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,238)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,982)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(471)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">397</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">127</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of interest rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(963)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,283)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(303)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,238)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,787)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(244)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(55)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of exchange rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(740)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(370)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,110)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(214)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">142&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">449&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">915&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total derivative instruments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,274)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,091)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(205)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,567</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,003)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,772)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(995)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,835</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,573)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivatives instruments of accounting hedges </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> For interest rate hedges, the positive amount is in terms of "fixed payment.&#8221; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.   </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Positive amounts indicate payables. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Of the hedging instruments that are not derivatives, 132 million euros correspond to "Loans and other debts" (see Note 18).  </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of hedged items by fair value hedges at December 31, 2022 and December 31, 2021 are as follows:</span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:22.463%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.371%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.526%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.095%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.078%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.518%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.514%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.239%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.526%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.647%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.823%"/><td style="width:0.1%"/></tr><tr><td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Hedged items carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accumulated amount in the hedged item adjusted by fair value hedge </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">250</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">265</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other heading of assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,125</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,295</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,619</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,039</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(88)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(38)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,735&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,454&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,657&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(74)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">387&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">563&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">756&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">759&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and viceversa.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:22.463%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.670%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.095%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.652%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.949%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.239%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.095%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.382%"/><td style="width:0.1%"/></tr><tr><td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Hedged items carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accumulated amount in the hedged item adjusted by fair value hedge </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">226</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">226</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other heading of assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,998</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,322</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">390</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,689</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,987&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">558&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,464&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,309&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,504&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">541&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">624&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> 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.</span><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolutions of hedges in equity at December 31, 2022 and December 31, 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:28.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.828%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.108%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.403%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:6.238%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.806%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.954%"/><td style="width:0.1%"/></tr><tr style="height:29pt"><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Gross amount </span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total hedges in equity</span></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gains (losses) of cash flow hedges</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/></tr><tr style="height:38pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate and interest rate risks</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">247</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(170)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,235&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">612&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(743)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,104&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(284)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">820&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the initial value of hedged item</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(620)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(711)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(530)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total translation differences</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">210</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">995</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity for continuing hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">826&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">290&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,087&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(80)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">210</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">995</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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).     </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:28.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.828%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.108%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.403%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:6.238%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.806%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.954%"/><td style="width:0.1%"/></tr><tr style="height:21pt"><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Gross amount </span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total hedges in equity</span></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gains (losses) of cash flow hedges</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/></tr><tr style="height:38pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate and interest rate risks</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(154)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(443)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(523)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,061</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">941</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(295)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">646</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,473&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">445&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(353)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,594&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(396)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,198&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the initial value of hedged item</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(782)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(188)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(962)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,884)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,406)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total translation differences</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #dbdbdb;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">247</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(170)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity for continuing hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">211&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(184)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">705&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">720&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(113)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">247</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolution of cost of hedging in equity in 2022 and 2021 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:42.209%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.158%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.842%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.130%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.161%"/><td style="width:0.1%"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total gross amount<br/></span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect <br/></span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total cost of hedging in equity<br/></span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Forward element /CBS</span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">A time - period related hedge item</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(75)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(75)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(56)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The details of the ineffective portion of accounting hedges with impact on the income statement in 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.147%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.963%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.813%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.677%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in fair value of the hedging instrument</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in the fair value of hedges item for the hedged risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ineffective portion hedged registered in the income statement</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,257)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,238)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,292)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,273)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,108&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,108&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investment hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,116)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,116)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">462</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">475</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">475&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(803)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(771)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(32)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.147%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.963%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.813%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.677%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in fair value of the hedging instrument</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in the fair value of hedges item for the hedged risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ineffective portion hedged registered in the income statement</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(142)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(143)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">994</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,510&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,544&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investment hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(550)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(550)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">412</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">418</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">412&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">418&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,230</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(39)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of derivative financial instruments. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794191504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Lease Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureofleasesAbstract', window );"><strong>Disclosure of leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfLeasesExplanatory', window );">Lease Liabilities</a></td>
<td class="text">Lease liabilities<div style="margin-bottom:9pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolution of lease liabilities in 2022 and 2021 were as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.203%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,070</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,487&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal and interests payments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,361)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments (Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,996)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interests payments (Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(365)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued interests</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(223)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.203%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,294</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,030</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of the towers division of Telxius</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,650</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal and interests payments</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,859)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments (Note 28)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,782)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interests payments (Note 28)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(246)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Minus: Payments of companies held for sale and sold companies during 2021</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(288)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued interests </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,070</span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Total accrued interests in 2021 amounted to 274 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 19).</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" includes fixed asset sale and leaseback transactions, which amounted to 125 million euros in 2022 (51 million euros in 2021). The gain recorded in 2022 and 2021 for sale and leaseback transactions amounted to 381 million euros and 263 million euros, respectively (see Note 26).  </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business combinations" in 2022 include 117 million euros of lease liabilities related to the acquisition of rights of use of Oi (see Note 29), as well as, 2 and 5 million euros for the incorporation of the Incremental group and the BE-terna group, respectively (see Note 2 and 5).</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business combinations" in 2021 corresponded to the acquisition of Cancom (see Note 5) amounted to 14 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">There are commitments for leases not started at December 31, 2022 amounting to 1,569 million euros, mainly related to the sites construction agreement between Telef&#243;nica Germany GmbH and Telxius Towers Germany GmbH (at December 31, 2021 1,307 million euros). </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2021 Telxius sold its telecommunications towers division to American Tower Corporation (see Note 2). The Telef&#243;nica Group operators maintained the leases agreements of the towers signed with the companies sold subsidiaries of Telxius. Consequently, as of the closing date of the transactions, lease liabilities were recorded in the consolidated statement of financial position in the amount of 2,775 million euros. &#8220;Sale of the towers division of </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telxius&#8221; also includes the recognition of lease liabilities with third parties corresponding to the second phase of the sale agreement between Telefonica Germany and ATC in the amount of 125 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Transfers and others" in 2022 includes the reclassification of lease liabilities on the shutdown site contracts of Pegaso PCS amounting to 264 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Transfers and others" in 2021 included the reclassification of lease liabilities of Telef&#243;nica El Salvador amounted to 43 million euros to "Liabilities associated with non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The maturity schedule of lease liabilities at December 31, 2022 is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.848%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.600%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.600%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.436%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></div></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-Current</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current total</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,107</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,700</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,413</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,064</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">851</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,173</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,201</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,308</span></td></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Section Presentation<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g47-50__IFRS16_g47-50_TI<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS16_g51-60__IFRS16_g51-60_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of leases [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489792018560">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Non-current Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherNoncurrentLiabilitiesExplanatory', window );">Payables and Other Non-current Liabilities</a></td>
<td class="text">Payables and other non-current liabilities<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of &#8220;Payables and other non-current liabilities&#8221; of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:71.627%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,914</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,733</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">463&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables for spectrum acquisition</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,293&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,361&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other non-current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,632</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,356</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities (Note 23)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred revenue</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current tax payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">542&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">310&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,546</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,089</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Non-currrent debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:71.627%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Colombia </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">243&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">990&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,293</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,361</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The outstanding liabilities at December 31, 2022 from the acquisition of spectrum licenses by Telef&#243;nica Brazil in November 2021 (see Note 6) amounted to 1,844 million Brazilian real (331 million euros) including 1,192 million Brazilian reais (214 million euros) are classified as non-current. At December 31, 2021, outstanding liabilities amounted to 4,451 million Brazilian reais (704 million euros at exchange rate of 2021), including 1,704 million Brazilian reais (270 million euros at closing exchange rate of 2021) were classified as non-current.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2019 Telef&#243;nica Germany acquired a total of 90 MHz spectrum at a cost of 1,425 milli</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">on euros. The Company, like the other auction participants, reached an agreement to defer payments in interest-free annual installments until 2030, instead of an upfront one-time payment (see Appendix VI). In 2022 and 2021, payments amounting to 108 million euros have been made each year (see Note 28). The current value of the debt at December 31, 2022 amounted to 998 million euros (1,097 million euros at December 31, 2021), 891</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros have a maturity of more than twelve months (990 million euros at December 31, 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments for financed licenses for the years 2022 and 2021 amounted to 657 and 165 million euros, respectively (see Note 28).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Deferred revenues&#8221; include grants amounting to 53 million euros at December 31, 2022 (55 million euros at December 31, 2021).</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other non-current liabilities. [Refer: Other non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489792029984">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Current Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherCurrentLiabilitiesExplanatory', window );">Payables and other current liabilities</a></td>
<td class="text">Payables and other current liabilities<div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of &#8220;Payables and other current liabilities&#8221; at December 31, 2022 and December 31, 2021 is as follows:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,018</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,872</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,545&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,982&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to suppliers of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables for spectrum acquisition</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">248&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">569&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,088&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">997&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends pending payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,491</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,338</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract liabilities (Note 23)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,038&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">958&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred revenue </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Advances received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">265&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities to associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,509</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,210</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Current debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:71.627%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Colombia </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">434&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">569</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 and December 31, 2021, &#8220;Payables for spectrum acquisition&#8221;, includes the debt maturing within twelve months of the spectrum licenses in Telef&#243;nica Brazil adquired in November 2021 and the spectrum licenses in Telef&#243;nica Germany adquired in June 2019 (see Note 21). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Payables to associates and joint ventures" at December 31, 2021 included the obligation in relation to the O2 UK pension plans arising as a result of the constitution of VMED O2 UK Ltd amounted to 213 million pounds sterling (253 million euros at closing exchange rate of 2021, see Notes 10 and 29.c).</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Deferred revenue&#8221; includes grants amounting to 17 million euros at December 31, 2022 (12 million euros at December 31, 2021). </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of current "Other payables" at December&#160;31, 2022 and December&#160;31, 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:41.798%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.450%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.452%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued employee benefits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">608&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">516&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-financial non-trade payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">480&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">481&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,088</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">997</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Information on average payment period to suppliers. Third additional provision, &#8220;Information requirement&#8221; of Law 15/2010 of July 5, modified by Law 18/2022, of September 28. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with the aforementioned Law 15/2010, the following information corresponding to the Spanish companies of the Telef&#243;nica Group is disclosed:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:56.147%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.129%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.424%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of days</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted average maturity period</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">53</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">54</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of payments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of outstanding invoices</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,362&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,671&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding invoices</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,251&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,264</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 19, 2022, Law 18/2022, of September 28, on the creation and growth of companies, came into force, which modifies the third additional provision of Law 15/2010. The new standard establishes the obligation to publish in annual accounts, in addition to the information already required, the monetary volume and number of invoices paid in a period less than the maximum established in the late payment regulations, and the percentage they represent of the total number of invoices and on the total monetary payments to your suppliers. This information for the 2022 financial year is shown below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.701%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.099%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monetary volume of invoices paid in a period less than the maximum established in the regulations (millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,899</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage of total payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">59</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of invoices paid in a period less than the maximum established in the regulations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">157,523</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage of the total number of invoices paid</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">54</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;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 2022 included payment periods of up to 60 days, according to the terms agreed between the parties. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For efficiency purposes and in line with general business practices, Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments to Spanish suppliers in 2022 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. </span></div>The average payment period to suppliers of the Telef&#243;nica Group&#8217;s companies in Spain in 2022, calculated in accordance with the only additional provision of the Resolution of the Instituto de Contabilidad y Auditor&#237;a de Cuentas (Spanish Accounting and Audit Institute) of January 29, 2016, amounted to 53 days (54 days in 2021).<span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489801951312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Breakdown of Contractual Assets and Liabilities, and Capitalized Costs<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RevenueFromContractsWithCustomersAbstract', window );"><strong>Revenue From Contracts With Customers [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory', window );">Breakdown of Contractual Assets and Liabilities, and Capitalized Costs</a></td>
<td class="text">Breakdown of contractual assets and liabilities, and capitalized costs<div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of contractual assets and capitalized costs in 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021 is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.034%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:9.430%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term contractual assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">261</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(12)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(100)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term contractual assets (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">294</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(337)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">295&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(340)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">342</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">555</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(349)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">554</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:28.432%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.128%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:11.036%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term contractual assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">145</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">113</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(49)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">146&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(49)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term contractual assets (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">180</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(198)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">48</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">182&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(201)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">249</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">293</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(198)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">342</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of the deferred expenses in 2021 and 2020 is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:25.654%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.430%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current capitalized costs (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">555</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">820</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(547)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">854</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">371&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">671&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(447)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">610&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">149&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">244&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current capitalized costs (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">668</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">630</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(987)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">547</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">885</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">537&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">509&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(801)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">448&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">710&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(186)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,450</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(989)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,739</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:21.122%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.788%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.303%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.015%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current capitalized costs (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">331</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">631</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(401)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">555</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">212&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">496&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(334)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">371&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(67)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current capitalized costs (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">489</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(799)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">400</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">668</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">388&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(653)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">333&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">537&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(146)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">911</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,120</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(799)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2020, the Group 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.</span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of contractual liabilities of contracts with customers in 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and 2021 is as follows: </span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.487%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.056%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.347%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.347%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.400%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.368%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (previous years)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (current year)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term contractual liabilities (Note 21)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(242)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term contractual liabilities (Note 22)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">958&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,546&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(984)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,756)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,038&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,787</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,846</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(986)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,756)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,929</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.590%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.718%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.283%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (previous years)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (current year)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term contractual liabilities (Note 21)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">762&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">270&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(206)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term contractual liabilities (Note 22)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">976&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,182&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(725)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,694)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">958&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,738</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(729)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,705)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,787</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The maturity schedule of contractual liabilities at December 31, 2022 is as follows: </span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:45.234%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.776%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.780%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, activation fees</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, sales of prepay cards</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">524&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">524&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">477&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, sales of handsets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, sales of other equipments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, irrevocable rights to use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other contractual liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity of performance obligations</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,038</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">110</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">606</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,929</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for revenue from contracts with customers.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Section Presentation<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS15_g105-109__IFRS15_g105-109_TI<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFR15_g110-129_IFRS15_g110-129_TI<br> -URIDate 2022-03-24<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfRevenueFromContractsWithCustomersExplanatory</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>dtr-types:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RevenueFromContractsWithCustomersAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue From Contracts With Customers [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794079728">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EmployeeBenefitsAbstract', window );"><strong>Employee Benefits [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEmployeeBenefitsExplanatory', window );">Provisions</a></td>
<td class="text">Provisions<div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amounts of provisions in 2022 and 2021 are as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:25.107%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.203%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Employee benefits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">885</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,093</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,978</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,003</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,395</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,398</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Termination plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">241&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">376&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">254&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">374&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">628&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Post-employment defined benefit plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">329&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">338&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other benefits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">741&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,523&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">741&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,621&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,362&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">502</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">528</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">552</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">577</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">720</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,910</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,630</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">413</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,715</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,128</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,631</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,505</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,136</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,441</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,662</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,103</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Employee benefits</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 the Group recorded a provision o</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">f 179 mil</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">lion euros (1,663 million euros in 2021). In 2022, 57 m</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">illion euros corresponds to Tel&#233;fonica Spain (1,382 million euros in 2021, mainly relating to</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the Individual Suspension Plan described in &#8220;Other benefits&#8221;). The distribution by segment of the restructuring costs, in terms of their impact on operating income, is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:74.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.052%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.053%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain </span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,382&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">174&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">179</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,663</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Termination plans </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in provisions for termination plans in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">785</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">249&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(409)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences, hyperinflation adjustments and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(311)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences, hyperinflation adjustments and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">376</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Spain </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2011-2013 labor force reduction plan in Telef&#243;nica de Espa&#241;a, concluded with 6,830 participating employees and the provisions recorded at December&#160;31, 2022 and 2021 amounted to 38 million euros and 145 million euros, respectively. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The companies bound by these commitments calculated provi</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">sions required at 2022 and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> year-ends 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 and a high quality credit market based interest rate. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate used for the termination plans of Telef&#243;nica Spain at December&#160;31, 2022 was 3.43% with an average plan length of 0.74 years.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Post-employment defined benefit plans </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.993%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.083%"/><td style="width:0.1%"/></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Obligation</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">208&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">913&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(101)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(751)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(870)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision before asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(129)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">266&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">266&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">137</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">309</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">338&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.993%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.083%"/><td style="width:0.1%"/></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Obligation</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">322&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">960&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(99)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(660)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(774)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision before asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(111)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">186&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">385</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in the present value of obligations in 2022 and 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:39.689%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.743%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2020</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">643</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">74</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,086</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current service cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plan curtailments</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2021</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">322</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">549</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current service cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plan curtailments</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2022</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">208</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">622</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">913</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Movements in the fair value of plan assets in 2022 and 2021 are as follows:</span><span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:40.420%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.523%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2020</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">693</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">801</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Participants contributions</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2021</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">660</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">774</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company contributions</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2022</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">751</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Brazil pension plans</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil sponsors the following post-employment benefit plans: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:43.263%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.859%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:38.578%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Management entity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sponsor</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plano de Assist&#234;ncia M&#233;dica ao Aposentado y Programa de Coberturas Especiais (PAMA/PCE)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Funda&#231;&#227;o Sistel de Seguridade Social</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#225;s (Telecomunica&#231;&#245;es Brasileiras, S.A.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assistencia m&#233;dica &#8211; Lei 9.656/98</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, Terra Networks, TGLog and TIS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PBS Assistidos (PBS-A)<br/>&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Funda&#231;&#227;o Sistel de Seguridade Social</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#225;s (Telecomunica&#231;&#245;es Brasileiras, S.A.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CTB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica BD</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vis&#227;o Prev</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Planes VISAO</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vis&#227;o Prev</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, Terra Networks, TGLog, TIS and Clound Co</span></td></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main actuarial assumptions used in valuing these plans are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:60.832%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.226%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.642%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discount rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.75% - 9.83%</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.56% - 8.78%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Nominal rate of salary increase</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.57% - 6.35%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.32% - 6.09%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term inflation rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Growth rate for medical costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.61&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mortality tables</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AT 2000 M/F</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AT 2000 M/F</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:17.228%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.785%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.292%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.295%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the discounted obligation at the current discount rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by increasing the discount rate by 0.5%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by reducing the discount rate by 0.5%</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">341&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">286&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total obligation</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">622</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">594</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">653</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr></table></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:17.228%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.785%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.292%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.295%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation at the current growth rate for medical costs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by increasing the rate by 1%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by reducing the rate by 1%</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">305&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total obligation</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">622</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">659</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">592</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other employee benefits </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica de Espa&#241;a, Telef&#243;nica M&#243;viles Espa&#241;a and Telef&#243;nica Soluciones Individual Suspension Plans </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2015 Telef&#243;nica de Espa&#241;a, S.A.U., Telef&#243;nica M&#243;viles Espa&#241;a, S.A.U. and Telef&#243;nica Soluciones de Inform&#225;tica y Comunicaciones de Espa&#241;a, S.A.U. signed the first Collective Bargaining Agreement of Related Companies (CEV). 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. In September 2019 Telef&#243;nica Espa&#241;a 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. In 2021, Telef&#243;nica Espa&#241;a signed a Social Pact for Employment supported by the largest trade unions, which contemplate and Individual Suspension Plan of employment, fully voluntary (see Note 2). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Plans (PSI) in the periods opened for these purposes. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the end of each period, the current value of the forecast payment flows to meet the commitments of these programs (applying certain hypotheses regarding estimated number of accessions and future reintegration ratio) is recognized. At 2022 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> year-ends, this figure was calculated using </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the biometric table PERM2020 published in the resolution of December 17, 2020 combined with the invalidity table published in the ministerial order of 1977 and a high quality credit market based interest rate.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provision at December&#160;31, 2022 amounted to 4,150 million euros (5,240 million euros at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate used for these provisions at December&#160;31, 2022 was 3.71% with an average plans length of 3.53 years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sensitivity of the valuation </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the sensitivity of the value of termination, post-employment and other obligations, including the Individual Suspension Plans of Telef&#243;nica Group companies in Spain to changes in the discount rate:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-100 b.p.</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+100 b.p.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on value</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on value</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on&#160;&#160;income statement</span></td></tr><tr><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(147)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(147)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A 100 b.p. increase in the discount rate would reduce the value of the liabilities by 138 million euros and have a positive impact on the income statement of 138 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 147 million euros and have a negative impact on the income statement of 147 million euros before tax.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b) Provisions for dismantling of assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of provision for dismantling of assets in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:70.811%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.989%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">577</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(160)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets at December 31, 2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">528</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business sale&#8221; in 2021 included the second phase of the sale of towers by Telefonica Germany (see Note 2).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail by segments of provision for dismantling of assets in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"/><td style="width:60.902%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.898%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">323&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">396&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">528</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">577</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Other provisions </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in &#8220;Other provisions&#8221; in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,894</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">795&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(600)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,128</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions and accretion</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">856&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(646)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">226&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,630</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Business combinations" in 2022 mainly correspond to provisions related to the acquisition of mobiles assets of Oi (see Note 5).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Group is exposed to risks of claims and litigation, mainly relating to tax and regulatory proceedings, and labor and civil claims.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given &#160;&#160;&#160;&#160;the nature of the risks covered by these provisions, no reliable schedule of potential payments, if any, can be determined. </span></div><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica Brazil</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#244;nica Brasil, S.A. and its subsidiaries are party to administrative and judicial proceedings and labor, tax and civil claims filed in different courts. The Telef&#243;nica Group management based on the opinion of its legal counsel, recognized provisions for proceedings for which an unfavorable outcome is considered likely. </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balance of these provisions at December 31, 2022 and December 31, 2021 is shown in the following table:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:61.070%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.814%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.816%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax proceedings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">446&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">340&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Regulatory proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">336&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">314&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Labor claims</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Civil proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">214&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts to be refunded to customers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provision for fines for canceling lease agreements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,300</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">879</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica Brazil recognized contingent liabilities according to IFRS 3 generated on</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> acquisition of the controlling interest of Vivo Participa&#231;oes in 2011, GVT in 2015 and the mobile assets of Oi in 2022 (see Note 5). These contingent liabilities amounted to 176 million euros at December&#160;31, 2022 (77 million euros at December&#160;31, 2021).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In 2022, Complementary Law No. 194 was enacted in Brasil, leading to a reduction in the tax rate ICMS on communications services and the respective refund of these amounts to customers. The provision in Telef&#243;nica Brasil at December 31, 2022 amounted to 108 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">"Provision for fines for canceling lease agreements" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">relates to the acquisition of Garliava, resulting from the sale or shutdown of sites (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of provisions for tax proceedings by nature of risk is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:61.070%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.814%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.816%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Federal taxes</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">State taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Municipal taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FUST</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">446</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of changes in provisions for tax proceedings in 2022 and 2021 is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">282</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with a counterparty in the income statement</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Write-offs due to payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monetary updating</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with a counterparty in the income statement</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Write-offs due to payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monetary updating</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">446</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 33,473 million Brazilian reals (6,009 million euros) as of </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (30,249 million Brazilian reals, 4,786 million euros as of </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). The possible contingencies from the main income tax proceedings (federal tax) are described in Note 25.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Noteworthy state tax-related contingencies include the "ICMS" tax (see Note 25). Moreover, Telef&#243;nica Brazil presently has different open proceedings regarding the Fundo de Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es (FUST, refer to Note 29). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to regulatory proceedings, Telef&#243;nica Brazil is party to administrative proceedings against Agencia Nacional de Telecomunica&#231;&#245;es (ANATEL) based on an alleged failure to meet sector regulations and judicial proceedings to contest sanctions applied by ANATEL at the administrative level. Consolidated provisions totaled 1,869 million Brazilian reals (336 million euros) at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2022 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1,986 million Brazilian reals, 314 million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). In addition, Group management and legal counsel understand that losses are possible from regulatory contingencies amounting to 5,845 million Brazilian reals (1,049 million euros) at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (4,545 million Brazilian reals, 719 million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), including the sanction for breaches of the Fixed Telephony Regulation (see Note 29.a). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, Group management and legal counsel understand that losses are possible from civil proceedings, amounting to 391 million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (335 million euros at </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.888%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.907%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax proceedings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">280&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Labor claims</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Civil proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">248&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Regulatory proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Garnishments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">448</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current (see Note 15)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current (see Note 12)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">501&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">431&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for employee benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Section Scope<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS19_g2-7__IAS19_g2-7_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Employee Benefits [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489792029984">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Tax Matters<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeTaxesAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIncomeTaxExplanatory', window );">Tax Matters</a></td>
<td class="text">Tax matters<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to a Ministerial Order dated December 27, 1989, Telef&#243;nica, S.A. files consolidated tax returns in Spain for certain Group companies. The consolidated tax group comprised </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">47</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> companies at December 31, 2022 (45 companies at December 31, 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deferred taxes movement</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in deferred taxes in the Telef&#243;nica Group in 2022 and 2021 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,616</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,602</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,080&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">685&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,877)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(400)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company movements and others</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,884</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,416</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,620</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">952&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">499&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,697)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(472)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(60)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company movements and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,616</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,602</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main changes registered in 2022</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2022, Telef&#243;nica was notified of the Supreme Court's ruling rejecting the appeal filed by the State Attorney's Office against the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supreme Court's </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ruling of October 29, 2021, which had upheld the criteria for the use of tax losses and deductions maintained by Telef&#243;nica in relation to the settlement agreements arising from the corporate income tax audit for those years (see Inspections of the tax group in Spain in this note). On October 24, 2022, the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supreme Court's</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ruling was enforced, ordering the refund to Telef&#243;nica of 790 million euros for taxes paid in those years, as well as 526 million euros in late-payment interest (see "Breakdown of financial result" in Note 19). As a result of the new assessments made, in 2022 tax credits of Telef&#243;nica, S.A.'s tax group that had been capitalized at December 31, 2021, amounting to 512 million euros for tax loss carryforwards and 278 million euros for tax credits, were derecognized. Also, in relation to the above, an addition of deferred tax assets of the tax group was recorded, with a balancing entry in the income tax of the consolidated income statement of tax loss carryforwards in the amount of 58 million euros and a derecognition of tax credits for deductions in the amount of 16 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022, the consortium formed by CAA and Vauban (see Note 2) acquired 45% of Bluevia Fibra, S.L. (Bluevia) for an amount of 1,021 million euros in cash. The transaction has not had any impact on the consolidated income statement as it is a change in the percentage of ownership that has not resulted in a loss of control. In the context of this transaction, Bluevia acquired from Telef&#243;nica de Espa&#241;a a number of assets constituting the business object of Bluevia (see Note 29.c) at their fair value at the transaction date, which was higher than the pre-existing net book value, generating an accounting gain at the headquarters of Telef&#243;nica de Espa&#241;a which, as Bluevia is outside the consolidation perimeter of the tax group of Telef&#243;nica, S.A., forms part of the taxable income of the aforementioned tax group.  However, from an accounting point of view, this difference in value is not reflected in the consolidated accounts as it is a transaction between companies of the same Group. The difference between the tax value of these assets in Bluevia and their book value in the Group's consolidated accounts has generated an asset for deductible temporary differences amounting to 548 million euros, recorded as additions in the table above.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the estimated recoverability of the deferred tax assets of the companies that continue to form part of the tax group after the exit of Bluevia has been assessed. As a result of this analysis, a reversal of deferred tax assets for tax loss carryforwards amounting to 85 million euros and 112 million euros of deductions has been recorded.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022 there were additions of deferred tax assets for 10 million euros as a result of the provisions recognized during the year in relation to the various workforce restructuring plans and other obligations with employees of the companies include in the group in Spain (see Note 24). Likewise, disposals of deferred tax assets in 2022 included the impact of the materialization of these provisions and its financial update, amounting to 319 million euros. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Germany recognized tax credits for loss carryforwards generated in previous years amounting to 76 million euros and applied tax loss carryforwards amounting to 46 million euros in 2022. Furthermore, Telef&#243;nica Germany recognized deferred tax liabilities disposals amounting to 42 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The additions of deferred tax assets included tax credits recognized for 76 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2022 amounting to 76 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil recognized deferred tax assets amounting to 78 million euros and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">applied tax loss carryforwards amounting 86 million euros in 2022. I</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">n addition Telef&#243;nica Brazil, recognized deferred tax liabilities amounting to 59 million euros and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">disposals amounting to 212 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Colombia recognized deferred tax assets amounting to 26 million euros and </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">applied tax loss carryforwards amounting 119 million euros in 2022. Furthermore, </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">recognized deferred tax liabilities amounting to 22 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements relating to deferred taxes recognized directly in equity in 2022 amounted to 238 million euros of additions (net position of higher deferred tax liabilities) and 44 million euros of disposals (net position of higher deferred tax </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">liabilities</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, the amount of recognized deferred tax liabilities associated with investments in subsidiaries amounted to 319 million euros as of December 31, 2022 (220 million euros as of December 31, 2021). The amount of unrecognized deferred tax liabilities associated with investments in subsidiaries amounted to 234 million euros as of December 31, 2022 (256 million euros as of December 31, 2021).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main changes registered in 2021</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Following the recoverability analysis of the Tax Group's deferred tax assets in Spain as of December 31, 2021, a reversal of deferred tax assets for tax loss carryforwards and deductions was recorded, with a balancing entry in income tax, amounting to 294 million euros (69 million euros of tax loss carryforwards and 225 million euros of deductions).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In addition in 2021, the company completed the tax audit procedure for the years 2014 to 2017, which involved the consumption of deferred tax assets amounting to 199 million euros of tax loss carryforwards and 193 million euros of deductions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In addition to this, d</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">eferred tax liabilities and the associated deferred tax asset of 143 million euros was derecognized, after the state aid recuperation procedure corresponding to the years 2005 to 2018 goodwill tax amortization (see Tax deductibility of financial goodwill in Spain, later in this note).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In 2021 there were additions of deferred tax assets for 348 million euros as a 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 2021 included the impact of the materialization of these provisions, amounting to 240 million euros.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil recognized deferred tax assets amounting to 221 million euros, mainly as a consequence of the Federal Supreme Court ruling of September 24, 2021, recognizing the unconstitutionality of the taxation in the Corporate Income Tax of interest received on taxes unduly paid in previous periods. In addition, recognized deferred tax liabilities amounting to 179 million euros mainly related to the tax amortization of goodwill.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Germany recognized tax credits for loss carryforwards generated in previous years amounting to 77 million euros and applied tax loss carryforwards amounting to 118 million euros in 2021. Furthermore, Telef&#243;nica Germany recognized deferred tax liabilities disposals amounting to 110 million euros.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The additions of deferred tax assets included tax credits recognized for 72 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2021 amounting to 66 million euros.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In September 2021, the Social Investment Law (Law 2155 of 2021) was approved in Colombia, which establishes that as of 2022, the general income tax rate for legal entities is 35%. As a result of this amendment, the company recorded deferred tax assets additions of 71 million euros in 2021.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements relating to deferred taxes recognized directly in equity in 2021 amounted to 27 million euros of additions (net position of higher deferred tax liabilities) and 196 million euros of disposals (net position of higher deferred tax assets).</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Expected realization of deferred tax assets and liabilities</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated realization of deferred tax assets and liabilities recognized in the consolidated statement of financial position in 2022 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 1 year</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,884&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">749&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,135&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,067&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">296&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,771&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:5pt;margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets less than one year mainly come from the Tax Group in Spain </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(458 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros at December 31, 2022).</span></div><div style="margin-bottom:5pt;margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deferred tax assets</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax credits for loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,011&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,639&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unused tax deductions</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">565&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">903&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets for temporary differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,308&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,074&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,884&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,616&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax credits for loss carryforwards</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in Tax credits for loss carryforwards in the Telef&#243;nica Group in 2022 and 2021 are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:30.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.452%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location of the company (Millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reversals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perimeter changes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">999</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(600)</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">457</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">778</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">153&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(122)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">810</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin America</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(216)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total tax credits for loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,639</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">278</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(939)</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,011</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:28.768%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.345%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.201%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location of the company (Millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reversals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perimeter changes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,283</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(283)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">999</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">813</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(184)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">778</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin America</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">645</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">285&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total tax credits for loss carryforwards</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">435</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(508)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(31)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,639</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Spanish tax group considers that unused tax loss carryforwards in Spain, taking into account tax litigation in which the group is involved, amount </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">to 3,825 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">million euros at December&#160;31, 2022:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 1 year</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax loss carryforwards generated in the tax group</span></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,755</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,755&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax loss carryforwards generated before consolidation in the tax group</span></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,070</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">143&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,927&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total tax credits for loss carryforwards in Spain in the statement of financial position at December 31, 2022 amounted </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">to 457</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros (999 million euros at December 31, 2021). Total unrecognized tax credits for loss carryforwards of the Spanish tax group amounted to</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 498 m</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">illion euros. These tax credits do not expire.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group companies in Germany have recogn</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ized 810 milli</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">on euros of tax credits for loss carryforwards at December&#160;31, 2022. Total unrecognized tax credits for loss carryforwards of these companies amount t</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o 5,452 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros. These tax credits do not expire. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recognized tax credits in the consolidated statement of financial position arising from the Latin American subsidiaries at December&#160;31, 2022 amounted to </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros. Total unrecognized tax credits for tax loss carryforwards in Latin America amounted to</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 683 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">million euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deductions</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group has recognized 565 million euros of tax credits from deductions at December&#160;31, 2022, in Spain (903 millIon euros in 2021), generated primarily from export activity, R+D+i, double taxation and donations to non-profit organizations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Temporary differences</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sources of deferred tax assets and liabilities from temporary differences recognized at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">828&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">244&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">473&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Personnel commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,577&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">935&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">817&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories and receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">324&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,049&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,068&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">267&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets for temporary differences</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,205</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets and liabilities offset</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,897)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,536)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets for temporary differences registered in the statement of financial position</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,308</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,074</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,970&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,712&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,282&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,204&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Personnel commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">403&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments in subsidiaries, associates and other shareholdings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">374&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories and receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,046&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,093&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">833&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">431&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax liabilities for temporary differences</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,964</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets and liabilities offset</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,897)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,536)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax liabilities for temporary differences registered in the statement of financial position</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,602</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The heading "Other concepts&#8221; includes, among others, the difference between the accounting and tax values created by the value of financial derivatives at year end (see Note 19). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax payables and receivables</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current tax payables and receivables at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax payables</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax withholdings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indirect taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">390&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">476&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Social security</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income taxes payable</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">957&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">363&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,920</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,026</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax receivables</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indirect taxes</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">569&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">705&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income taxes receivable</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,549&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,310&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,213</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,120</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The heading "Current income taxes receivable" as of December 31, 2022 includes a receivable from Telxius Telecom amounting to 876 million euros (875 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">as of  December 31, 2021)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> corresponding to the income tax for the 2021 fiscal year, which was mainly generated by the second advance corporation tax paid for 2021 ("minimum instalment payment regime", regulated by RDL 2/2016 of 30 September, which is calculated on the positive result of the consolidated profit and loss account of its tax group whose parent company is Telxius Telecom). The profit obtained on the sale of its tower division subsidiaries, despite being tax exempt (at 95%) from corporate income tax, was nevertheless included in the basis for calculating the instalment payment. This credit was included into consideration for the annual corporate income tax return for 2021, which was filed in July 2022. The effective recovery of this credit has taken place in January 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 13, 2021 the Supreme Court of Brazil concluded the judgment of one of the most important tax disputes in Brazil, related to the exclusion of the ICMS tax (state tax on goods and services) in the PIS/COFINS (Contribui&#231;&#227;o para Financiamento da Seguridade Social) tax base. in 2021</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 2,269 million Brazilian reals (equivalent to 356 million euros at the average exchange rate of 2021) have been registered in "Current income taxes receivable"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The impact in the consolidated income statement at 2021 amo</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">unted to 1,660 million Brazilian reals (261 million euros) reducing "Taxes other than income tax" within "Other expenses" (see Note 26), 573 million Brazilian reals (90 million euros) in "Finance income" (see Note 19) and 36 million Brazilian reals correspond to monetary updating (6 million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica Brazil has another legal proceeding that became final in 2018 for which it partially recognized the credit. The remaining portion of this process, relating to the period from April 1998 to June 2002 was not recognized at that time, as Telef&#243;nica Brazil considered it to be a contingent asset and, therefore, did not meet the parameters for its accounting recognition. In August 2022, based on the evolution of more recent decisions handed down by the STF that could impact the process in question, Telef&#243;nica Brazil, supported by the opinions of its legal advisors, concluded that the aforementioned process reached the status of net recoverability and therefore would be entitled to the accounting recognition of the remaining portion of the credit. Consequently, in 2022 1,146 million Brazilian reais (212 million euros at the average exchange rate of December, 2022) has been registered in </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Current income taxes receivable"</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The impact in the consolidated income statement at 2022 amo</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">unted to 397 million Brazilian reals (73 million euros) reducing "Taxes other than income tax" within "Other expenses" (see Note 26), 749 million Brazilian reals (139 million euros) in "Finance income" (see Note 19) and 67 million Brazilian reals correspond to monetary updating (12 million euros</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). In 2022 the Company started the offset of said credit.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 the credits pending compensation for the refund for the payments of PIS/COFINS amounting to 787 million Brazilian reals, equivalent to 141 million euros at the closing exchange rate of December 31, 2022 (1,579 million Brazilian reais at December 31, 2021, 250 million euros at the closing exchange rate).</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reconciliation of book profit before taxes to taxable income</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reconciliation between book profit before tax and the income tax expense from continuing operations for 2022, 2021 and 2020 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accounting profit before tax</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,583</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax expense at prevailing statutory rate</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">797&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,768&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">532&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Permanent differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(793)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,705)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in deferred tax charge due to changes in tax rates</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Capitalization)/reversal of tax deduction and tax relief</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">88&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">225&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Capitalization)/reversal of loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">197&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(307)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(88)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Increase/(decrease) in tax expense arising from temporary differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">262&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Corporate income tax</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">641</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,378</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">626</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Breakdown of current/deferred tax expense</span></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current tax expense</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(218)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">831&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax expense</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">859&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">547&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Corporate income tax</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">641</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,378</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">626</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2022</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Permanent differences" in 2022, mainly includes 651 million of income corresponding to the last corporate simplification implemented in Brazil due to the approval in 2021 of a new Telecommunications Law (Law 14.195 of 26 August 2021), the consequent repeal of Decree 2.617/1998, which abolishes the obligation to control a telecommunications company through a Brazilian company.  </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, as a result of the closure of the tax inspection of Group 3G UMTS Holding GmbH for several years up to 2015 and once it was confirmed that no adjustment was proposed, the company has reversed the provision that had been recorded for this purpose, with an impact on Corporate income tax of 186 million euros and in Finance income of 69 million euros. This movement has not had any cash effect.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Capitalization)/reversal of tax deduction and tax relief in 2022 mainly includes the reversal of deferred tax assets for tax credits of the Telef&#243;nica, S.A. tax group amounting to 112 million euros, with a balancing entry in deferred tax expense. </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Capitalization)/reversal of loss carryforwards in 2022 mainly includes the effect of unrecorded tax loss carryforwards generated in the year and the reversal of tax loss carryforwards generated in prior years of the Telef&#243;nica, S.A. tax group, amounting to 326 million euros and 85 million euros, respectively. On the other hand, the recognition of tax credits for tax loss carryforwards generated in previous years of Telef&#243;nica Germany and Group 3G UMTS Holding GmbH are included too in (Capitalization)/reversal of loss carryforwards in 2022, amounting to 152 million euros (see Main changes registered in 2022 above in this note).</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other items in 2022 mainly include an expense of 241 million euros as a result of the provision for tax contingencies recorded during the year by Telef&#243;nica del Per&#250; (see Tax litigation at Telef&#243;nica del Per&#250; later in this note).</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2021</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Permanent differences" in 2021 mainly included the effect of the corporate income tax exemption on capital gains generated on the constitution of VMED O2 UK and on the sale of Telxius' telecommunications tower division (see Note 2). It also included 387 million euros expense for the signing of the Settlement Agreement following the closure of the corporate income tax audit for the years 2014 to 2017 in Spain referred to in the section "</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inspections of the tax group in Spain</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">" of this note.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Changes in deferred tax charge due to changes in tax rates" in 2021 included the impact of the change in the corporate income tax rate in Argentina, United Kingdom and Colombia. In Argentina the Law 27,630 of June 16, 2021 of the Corporation Tax established an increase in the nominal tax rate from 30% to 35% with retroactive effect from January 1st, 2021. In addition, on May 24, 2021 a change in the nominal tax rate from 19% to 25% was substantially enacted in the United Kingdom, which will begin to apply on April 1st, 2023. In September 2021, the so-called Social Investment Law (Law 2155 of 2021) was approved in Colombia, which established that as of 2022, the general income tax rate for legal entities is 35%. As a result of these changes in tax rates, a net deferred tax effect was recorded with a counterpart in Corporate income tax, amounting to 51 million euros.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"(Capitalization)/reversal of loss carryforwards" in 2021 included the recognition of tax credits in Telef&#243;nica Germany and Group 3G UMTS amounting to 77 million euros and 72 million euros, respectively, the recognition of tax credits in Brazil amounting to 221 million euros as a result of the decision of the Supreme Federal Court of 24 September 2021 referred to in the section "Main changes registered in 2021" of this note, partially compensated by the reversal of the tax group in Spain amounting to 65 million euros.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Increase/(decrease) in tax expense arising from temporary differences" in 2021 mainly included the effect of deductible temporary differences not recognized in Telef&#243;nica M&#233;xico, amounting to 83 million euros.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The heading "Other concepts" in 2021 included an expense of 97 million euros as a result of the provision for tax contingencies recorded by Telef&#243;nica del Per&#250; in the year (see "Tax litigation in Telef&#243;nica del Per&#250;" later in this note) and 97 million euros for the taxation of dividend income from Spanish companies.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2020</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Permanent differences" in 2020 included the effect of the non-deductible charge for the impairment losses on goodwill and other assets of Telef&#243;nica Argentina (see Note 7). </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"(Capitalization)/reversal of loss carryforwards" in 2020 included the recognition of tax credits in Telef&#243;nica 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.</span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Increase/(decrease) in tax expense arising from temporary differences" in 2020 mainly included 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 Telef&#243;nica M&#233;xico, amounting to 152 million euros.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax deductibility of financial goodwill in Spain </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The tax regulations added article 12.5 to the Spanish Corporate Income Tax Law, which came into force on January 1, 2002. The article regulated the deductibility of tax amortization of financial goodwill (fondo de comercio) arising from the acquisition of non-Spanish companies, which could be amortized over 20 years at 5% per annum.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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&#160;31, 2022, was 2,042 million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 6, 2021, the Court of Justice of the European Union concluded that the European Commission correctly classified the Spanish tax depreciation scheme of the Fondo de Comercio as State aid incompatible with the internal market for the First and Second Decisions. </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the recognition of legitimate expectations for the First and Second decisions, the Court of Justice of the European Union confirms its applicability.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The proceedings initiated on the Third Decision, suspended until the resolution of the 1st and 2nd Decisions, were reactivated in October 2021, and are still pending first instance judgment.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the above, the "Tax and Customs Control Unit of the Spanish Tax Authority" (Dependencia de Control Tributario y Aduanero de la Agencia Tributaria), in compliance with the obligation set out in the EC Decision (EU) 2015/314, recovered in March 2019 and February 2021, 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 2016 to 2018 respectively, and has notified in December 2022 the recovery of the relevant amounts for the years 2019 to 2020.The recovery of such amounts is provisional, pending the final rulings on the appeals brought against the three decisions. The amount paid by Telef&#243;nica after offsetting outstanding tax credits (tax losses carryforward and deductions) amounted to 12 million euros.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Notwithstanding the fact that Telef&#243;nica 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 released in 2021 the provision for the recovered part, 143 million euros, and has decided to continue provisioning the amount of the goodwill amortized for tax purposes, and not recovered by the Administration which amounted to 406 million euros as of December 31, 2022 (343 million euros as of December 31, 2021).  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Inspections of the tax group in Spain</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In July 2019, new inspection procedure were initiated for several of the companies belonging to Tax Group 24/90, of which Telef&#243;nica, S.A. is the dominant company. The concepts and periods that have been 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. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">A Settlement Agreement was signed in October 2021, in which Telef&#243;nica manifested its agreement with certain of the tax assessments resulting from the inspection (specifically, with respect to the tax treatment of the exchange differences generated by assets denominated in Venezuelan bolivars), and its disagreement with others (mainly the consideration of exempt income of the &#8220;Juros sobre capital propio&#8221; since 2015), producing an impact on results (tax expense) of 387 million euros, with a deferred tax asset reduction as detailed in "Main changes registered in 2021" in Note 25 to the Consolidated Financial Statements. However, the tax assessments did not result in a significant cash outflow as the Telef&#243;nica Group had tax credits, which substantially offset their impact. </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The closing of the inspection procedure took place in January 2022, with the Settlement Agreement being notified, and which the Company challenged in an economic-administrative procedure at the Central Economic-Administrative Court due to the adjustments with which it did not agree, mainly related to the "juros sobre el capital propio". On 9 December 2022, the Company received a rejection resolution from the Central Economic-Administrative Court, which will be challenged on the National High Court.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to the 2008-2011 inspection procedure, in July 2022 Telef&#243;nica was notified of the Supreme Court's decision rejecting the appeal for cassation filed by the State Attorney's Office against the judgment of the Audiencia Nacional (National High Court) of October 29, 2021. This confirmed the criteria used by Telef&#243;nica, S.A. for the use of tax losses carryforward and deductions in relation to the liquidation agreements derived from the Corporate Income Tax inspection of those years.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 24, 2022, an Agreement for the Execution of the Judgment of the Audiencia Nacional (National High Court) was issued, which orders the refund to Telef&#243;nica of an amount of 790 million euros for taxes paid in those years, as well as an amount of 526 million euros as delayed interest. Said amounts were collecte</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d on October 28, 2022.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a consequence of the final outcome of the litigation above mentioned, no additional liabilities were recorded as of December 31, 2022</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax litigation in Telef&#243;nica Brazil </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">State taxes </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To date the most significant issues have focused on the requirement to collect ICMS on penalties charged to customers for non-compliance, 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 b&#225;sica). In the case of the latter (assinatura b&#225;sica), the Supreme Court has established that the tax is only payable in respect of assessments for periods after October 2016. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21,712</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million Brazilian reais as of December 31, 2022 (approximately </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,898</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros at the exchange rate on that date, see Note 24 to the Consolidated Financial Statements), 19,164 million Brazilian reais as of December 31, 2021 (approximately 3,032 million euros at the exchange rate on that date). Telef&#243;nica Brazil has obtained independent expert reports supporting its position, i.e. that the aforesaid services are not subject to ICMS. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Federal taxes</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In addition, there are possible contingencies in relation to the income tax federal taxes for the total amount of 29,778 million Brazilian reais as of December 31, 2022 (approximately 5,346 million euros at the exchange rate on that date), 18,078 million Brazilian reais as of  December 31, 2021 (approximately 2,860 million euros at the exchange rate on that date), mainly related to the tax amortization in Brazil in the years 2011 to 2020 of the goodwill originated in the acquisitions of Vivo and GVT and their subsequent merger with Telef&#243;nica 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 Telef&#243;nica Brazil has received independent expert reports that support this view. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">There are other probable contingencies in relation to the income tax federal taxes for the total amount of 104 million Brazilian reais as of December 31, 2022 (approximately 19 million euros at the exchange rate on that date), 98 million Brazilian reais as of  December 31, 2021 (approximately 16 million euros at the exchange rate on that date). The Company has recognized a provision for this amount.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Tax litigation in Telef&#243;nica del Per&#250;</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In relation to tax claims in Peru, it should be noted that Telef&#243;nica del Per&#250; is party to numerous legal proceedings (contentious administrative proceedings (ACAs) and appeals (amparos)) for tax matters relating to corporate income tax and VAT, mainly for the years </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">1998 to 2005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, the most relevant being those corresponding to the years 1998 to 2001 (relating to corporate income tax, payments in advance, credit balances, associated VAT, interest and applicable penalties).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The evolution of the appeals of the different cases from the period 1998 to 2001 has been uneven and complex over the last few years, but we can highlight the second instance Judgment of 2015, which was partially upheld; the Supreme Court Judgments of 2019; the January 2020 Supreme Court Ruling, annulling the previous rulings of 2000 and 2001 in relation to the provision for doubtful debts; the Constitutional Court Rulings in 2021 in relation to the settlement of late payment interest, partially upheld; and the Supreme Court Rulings of 2021 and 2022 on the credit balance from 1999 used in 2000.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On January 17 and 18, 2023, Telef&#243;nica del Per&#250; received notifications of the judgments handed down by the Supreme Court that resolved, in the last instance and unfavorably to the Company (references to the &#8220;Company&#8221; in this section refer to Telef&#243;nica del Per&#250;), the contentious administrative proceedings relating to income tax for the years 1998, 2000 and 2001.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The rulings issued by the Fifth Chamber of Constitutional and Social Transitory of the Supreme Court do not contain any payment mandate to the Company, as the rulings issued in the administrative contentious proceedings were resolved on concepts derived from a pronouncement of the Tax Court. At the end of these proceedings - and any others that may be applicable - the Tax Administration, through an administrative act, will determine the amount of the corresponding payment obligations.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Because there were certain adjustments on which the rulings had been definitive since 2015 (positively for the Company in relation to the deductibility of the rental of public spaces and negatively in the case of the deductibility of certain financial charges), the Company previously recorded a provision with an impact on income tax, the amount of which has been updated periodically and constantly depending on the evolution of the various proceedings and the applicable interest rates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In addition to the above, in June 2022 a new ruling was received from the Tax Court in relation to the corporate income tax of Telef&#243;nica M&#243;viles del Per&#250; for 2000. This ruling was favorable to the Company with respect to the recognition of the tax value of certain network assets and unfavorable with respect to the deductibility of the exchange rate tax.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In relation to all these proceedings, the Group considers that the initial amount claimed by the Peruvian government has been exponentially increased by the accrual of interest generated by the delay, not attributable to the Company, of almost 20 years in processing the lawsuits, meaning that almost 80% of the total amount claimed is due to interest and fines. And all this, despite the fact that in 2021 the Constitutional Court itself ruled in favor of Telef&#243;nica del Per&#250;, recognizing that it had been charged interest for delays not attributable to the company.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">For this and other reasons, the Group has been in international arbitration before ICSID since March 2021 for various conducts of the Peruvian State in violation of the Agreement for the Promotion and Reciprocal Protection of Investments between Spain and Peru (see Note 29.a).</span></div><div style="text-align:justify"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has recorded the necessary provisions for the contingencies considered probable, leaving as possible contingencies an amount of 560 million Peruvian soles at December 31, 2022 (approximately 138 million euros). </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As of December 31, 2022, the total amount of tax contingencies related to Telef&#243;nica del Per&#250; that the Group has recognized in its consolidated financial statements, including as the most relevant amount that related to the aforementioned judgements and rulings received since 2015, plus accrued interest and other above-mentioned impacts, amounts to 3,849 million Peruvian soles which is equivalent to 945 million euros at the exchange rate of December 31, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Years open for inspection in the Group companies</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s tax legislation, taking into account their respective statute of limitations periods. In Spain the taxes from 2018 onwards are open to inspection. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the other countries in which the Telef&#243;nica Group has a significant presence, the years open for inspection by the relevant authorities are generally as follows:</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last eleven years in Germany. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last eight years in the United Kingdom. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last seven years in Argentina.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last six years in Venezuela </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last five years in Brazil, Mexico, Colombia, Uruguay and the Netherlands.  </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last four years in Peru. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The last three years in Chile, Ecuador and the United States. </span></div>The tax inspection of the open years is not expected to give rise to additional material liabilities for the Group.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS12_g79-88__IAS12_g79-88_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Taxes [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489808540528">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfRevenueExplanatory', window );">Revenues and Expenses</a></td>
<td class="text">Revenue and expenses<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of Revenues for the years 2022, 2021 and 2020 is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rendering of services</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,854&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,117&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,394&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sales</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,160&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,682&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,993</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43,076</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales mainly include the sale of mobile terminals.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other income</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Other income&#8221; is as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Own work capitalized</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">783&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">771&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">873&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of businesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">205&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,008&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">582&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">270&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Government grants</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">396&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,065</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,673</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,587</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of businesses" in 2022 mainly includes the gain from the sale of fiber optics assets of Colombia Telecomunicaciones, amounting to 162 million euros and the gain from the establishment of the joint company for the deployment of fiber in the United Kingdom amounting to 20 million euros (see Note 10).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of businesses" in 2021 mainly included the gain from the sale of the towers division of Telxius (6,099 million euros, see Note 2), the gain generated in the constitution of the joint venture VMO2 (4,460 million euros, see Note 2), the gain from the sale of 60% of the shares of InfraCo, SpA (274 million euros, see Note 2) and the gain from the sale of Telef&#243;nica de Costa Rica (136 million euros, see Note 2).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gains on disposal of companies" in 2020 included the impact of the initial registration of Telef&#243;nica's joint venture with Allianz for the deployment of fiber (FTTH) in Germany (see Note 29.c).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of property, plant and equipment" includes the gains on sale and leaseback transactions, which amounted to 381  million euros, 263 million euros and 79 million euros in 2022, 2021 and 2020, respectively (Note 20).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other expenses</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Other expenses&#8221; is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Leases included in "Other expenses" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,731&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,604&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,617&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes other than income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">834&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">902&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in trade provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">860&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Losses on disposal of fixed assets and changes in provisions for fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill impairment (Note 7)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">519&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,976</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,871</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 9). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Losses on disposal of fixed assets and changes in provisions for fixed assets" in 2022 includes impairment losses of intangible assets and property, plant and equipment of Telef&#243;nica Argentina, for a total amount of 77 million euros (see Notes 6 and 8). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"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 Telef&#243;nica Argentina, for a total amount of 375 million euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Taxes other than income tax&#8221; includes the outstanding credits related to the court decisions in favor of Telef&#243;nica Brasil which recognized the right to deduct the ICMS from the calculation base of the PIS and COFINS. The impact was 73 million euros reducing "Taxes other than income tax" in 2022 (261 million euros and 75 million euros in 2021 and 2020, respectively, see note 25).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Purchases and other contractual commitments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:46.929%"><tr><td style="width:1.0%"/><td style="width:37.840%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:59.960%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Purchases and other contractual commitments</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,991&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1 to 3 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 to 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,744&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,285</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The purchases and other contractual commitments in the table above include 850 million euros corresponding to power purchase agreements (PPAs), mainly from Telef&#243;nica Spain for the period from 2023 to 2031 and Telef&#243;nica Germany from 2025 to 2035 (see Note 29.d). The Group uses these contracts to purchase energy from sustainable sources, such as wind and solar, at generally fixed prices (see Note 3.l).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commitments for short-term leases and low value leases amounted to 33 million euros as of December 31, 2022. In addition, lease collection commitments amounted to 8 million euros as of December 31, 2022. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Headcount</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below presents the breakdown of the Telef&#243;nica Group&#8217;s average number of employees by fully consolidated segment (see Note 4) in 2022, 2021 and 2020, together with total headcount at December 31 each year. </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.599%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,099&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,947&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,872&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,976&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,992&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,978&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,884&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,501&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,029&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,099&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,056&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,770&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,701&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,275&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,846&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,987&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,343&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,938&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,828&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,232&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,994&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,806&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,717&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,872&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,506&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,928&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,765&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,852&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,058&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,109&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">102,563</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">103,651</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107,776</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104,150</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">113,182</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">112,797</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, approximately 39% of the final headcount are women (approximately 38% at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the number of employees with disabilities is 1,482 (1,128 employees at December&#160;31, 2021), of which 314 employees are in Spain (267 employees in 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the average number of employees of Telef&#243;nica Tech UK &amp; Ireland, Ltd. (acquired on July 29, 2021), Incremental (see Note 5) and BE-terna (see Note 5) amounte</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d to 609, 330 and 954 people,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> respectively.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Depreciation and amortization&#8221; on the consolidated income statement is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:51.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.543%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.543%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.544%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment (Note 8)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,133&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,360&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,022&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets (Note 6)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,599&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,388&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,735&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use (Note 9)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,064&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,649&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,602&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,796</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,397</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Earnings per share</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.c) by (b) the weighted average number of ordinary shares outstanding during the year. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Profit attributable to ordinary equity holders of the parent company</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,011&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,137&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,582&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustment for the coupon corresponding to perpetual subordinated obligations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(279)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(337)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(334)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax effect</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,802</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,884</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,332</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares (thousands)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares for basic earnings per share  (does not include treasury shares)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,740,105&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,864,070&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,952,695&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. plans of rights over shares</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,096&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,590&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,763,201&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,874,168&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,959,285&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(*) Revised data</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of calculating the earnings per share (basic and diluted) attributable to equity holders of the parent, 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 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">scrip dividend</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (see Note 17.b).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings per share (euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Basic</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfExpensesExplanatory', window );">Revenues and Expenses</a></td>
<td class="text">Revenue and expenses<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Revenues</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of Revenues for the years 2022, 2021 and 2020 is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rendering of services</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,854&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,117&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,394&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sales</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,160&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,682&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,993</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43,076</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sales mainly include the sale of mobile terminals.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other income</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Other income&#8221; is as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Own work capitalized</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">783&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">771&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">873&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of businesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">205&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,008&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">582&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">270&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Government grants</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">396&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,065</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,673</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,587</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of businesses" in 2022 mainly includes the gain from the sale of fiber optics assets of Colombia Telecomunicaciones, amounting to 162 million euros and the gain from the establishment of the joint company for the deployment of fiber in the United Kingdom amounting to 20 million euros (see Note 10).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of businesses" in 2021 mainly included the gain from the sale of the towers division of Telxius (6,099 million euros, see Note 2), the gain generated in the constitution of the joint venture VMO2 (4,460 million euros, see Note 2), the gain from the sale of 60% of the shares of InfraCo, SpA (274 million euros, see Note 2) and the gain from the sale of Telef&#243;nica de Costa Rica (136 million euros, see Note 2).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gains on disposal of companies" in 2020 included the impact of the initial registration of Telef&#243;nica's joint venture with Allianz for the deployment of fiber (FTTH) in Germany (see Note 29.c).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Gain on disposal of property, plant and equipment" includes the gains on sale and leaseback transactions, which amounted to 381  million euros, 263 million euros and 79 million euros in 2022, 2021 and 2020, respectively (Note 20).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other expenses</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Other expenses&#8221; is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Leases included in "Other expenses" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,731&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,604&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,617&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes other than income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">834&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">902&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in trade provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">860&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Losses on disposal of fixed assets and changes in provisions for fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill impairment (Note 7)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">519&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,976</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,871</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 9). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Losses on disposal of fixed assets and changes in provisions for fixed assets" in 2022 includes impairment losses of intangible assets and property, plant and equipment of Telef&#243;nica Argentina, for a total amount of 77 million euros (see Notes 6 and 8). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"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 Telef&#243;nica Argentina, for a total amount of 375 million euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Taxes other than income tax&#8221; includes the outstanding credits related to the court decisions in favor of Telef&#243;nica Brasil which recognized the right to deduct the ICMS from the calculation base of the PIS and COFINS. The impact was 73 million euros reducing "Taxes other than income tax" in 2022 (261 million euros and 75 million euros in 2021 and 2020, respectively, see note 25).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Purchases and other contractual commitments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:46.929%"><tr><td style="width:1.0%"/><td style="width:37.840%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:59.960%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Purchases and other contractual commitments</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,991&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1 to 3 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 to 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,744&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,285</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The purchases and other contractual commitments in the table above include 850 million euros corresponding to power purchase agreements (PPAs), mainly from Telef&#243;nica Spain for the period from 2023 to 2031 and Telef&#243;nica Germany from 2025 to 2035 (see Note 29.d). The Group uses these contracts to purchase energy from sustainable sources, such as wind and solar, at generally fixed prices (see Note 3.l).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commitments for short-term leases and low value leases amounted to 33 million euros as of December 31, 2022. In addition, lease collection commitments amounted to 8 million euros as of December 31, 2022. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Headcount</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below presents the breakdown of the Telef&#243;nica Group&#8217;s average number of employees by fully consolidated segment (see Note 4) in 2022, 2021 and 2020, together with total headcount at December 31 each year. </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.599%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,099&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,947&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,872&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,976&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,992&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,978&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,884&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,501&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,029&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,099&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,056&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,770&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,701&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,275&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,846&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,987&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,343&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,938&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,828&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,232&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,994&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,806&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,717&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,872&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,506&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,928&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,765&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,852&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,058&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,109&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">102,563</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">103,651</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107,776</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104,150</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">113,182</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">112,797</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, approximately 39% of the final headcount are women (approximately 38% at December&#160;31, 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, the number of employees with disabilities is 1,482 (1,128 employees at December&#160;31, 2021), of which 314 employees are in Spain (267 employees in 2021). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the average number of employees of Telef&#243;nica Tech UK &amp; Ireland, Ltd. (acquired on July 29, 2021), Incremental (see Note 5) and BE-terna (see Note 5) amounte</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d to 609, 330 and 954 people,</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> respectively.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Depreciation and amortization</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Depreciation and amortization&#8221; on the consolidated income statement is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:51.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.543%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.543%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.544%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment (Note 8)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,133&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,360&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,022&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets (Note 6)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,599&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,388&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,735&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use (Note 9)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,064&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,649&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,602&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,796</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,397</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Earnings per share</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.c) by (b) the weighted average number of ordinary shares outstanding during the year. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Profit attributable to ordinary equity holders of the parent company</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,011&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,137&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,582&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustment for the coupon corresponding to perpetual subordinated obligations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(279)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(337)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(334)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax effect</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,802</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,884</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,332</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares (thousands)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares for basic earnings per share  (does not include treasury shares)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,740,105&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,864,070&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,952,695&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. plans of rights over shares</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,096&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,590&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,763,201&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,874,168&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,959,285&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(*) Revised data</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the purposes of calculating the earnings per share (basic and diluted) attributable to equity holders of the parent, 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 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">scrip dividend</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (see Note 17.b).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings per share (euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Basic</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489792018560">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment Plans<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedPaymentArrangementsAbstract', window );"><strong>Share-Based Payment Arrangements [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory', window );">Share-Based Payment Plans</a></td>
<td class="text">Share-based payment plans<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: Performance Share Plan 2018-2022 </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the General Shareholders&#8217; Meeting held on June 8, 2018, a long-term incentive plan was approved, consisting of the delivery of shares of Telef&#243;nica, S.A. aimed at senior executive officers of the Telef&#243;nica Group, including the Executive Directors of Telef&#243;nica, S.A. The plan consists of the delivery to the participants of a certain number of shares of Telef&#243;nica, S.A. based on compliance with the objectives established for each of the cycles into which the plan is divided. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The number of shares to deliver depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. with regard to the TSRs of a comparison group made up of companies of the telecommunication sector, weighted by its relevance for Telef&#243;nica, and (ii) 50% on the generation of free cash flow of Telef&#243;nica Group ("FCF").  </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The plan has a duration of five years and is divided into three cycles of three years each. 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 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% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nevertheless, on February 23, 2021, the Chairman &amp; 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 Telef&#243;nica 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.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in 2019 and finalized on December 31, 2021. The maximum number of shares assigned to this cycle of the plan was 9,471,489 with a unit fair value of 6.1436 euros per share for FCF objective and 4.4394 euros for TSR. As of December 31, 2021 the number of outstanding shares was 7,494,896. Once considered the target fulfillment levels for 2019, 2020, and 2021, a weighted achievement ratio of 50% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020 the third and final cycle commenced, which finalized on December 31, 2022. The maximum number of shares assigned to this cycle of the plan was 5,346,508, assigned as of January 1, 2020 with a unit fair value of 3.2136 euros per share for FCF objective and 1.6444 euros for TSR. As of December 31, 2022 the number of outstanding shares was 4,595,621. Once considered the target fulfillment levels for 2020, 2021, and 2022, 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.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: Performance Share Plan 2021-2025 </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the General Shareholders&#8217; Meeting held on April 23, 2021, a long-term incentive plan was approved, consisting of the delivery of shares of Telef&#243;nica, S.A. aimed at senior executive officers of the Telef&#243;nica Group, including the Executive Directors of Telef&#243;nica, S.A. The plan consists of the delivery to the participants of a certain number of shares of Telef&#243;nica, S.A. based on compliance with the objectives established for each of the cycles into which the plan is divided. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The number of shares to deliver depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. with regard to the TSRs of a comparison group made up of companies of the telecommunication sector, weighted by its relevance for Telef&#243;nica, (ii) 40% on the generation of free cash flow of Telef&#243;nica Group ("FCF"), and (iii) 10% on CO2 Emission Neutralization, in line with the goal set by the Company.   </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The plan has a duration of five years and is divided into three cycles of three years each. The first cycle commenced in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 19,425,499 and the outstanding shares at December 31, 2022 was 18,544,534, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">First cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,712,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,272,267&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,770,200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,417,814&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,942,550&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,854,453&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 15,069,650 and the outstanding shares at December 31, 2022 was 14,969,799, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Second cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,534,825&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,484,899&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.43&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,027,860&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,987,920&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,506,965&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,496,980&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: &#8220;Talent for the Future Share Plan 2018-2022&#8221; (TFSP) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting on June 8, 2018, the Telef&#243;nica, S.A.'s Board of Directors agreed to launch the long-term incentive plan "Talent for the Future Share Plan". </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The term of this plan is five years and it is divided into three cycles. As in the case of the Performance Share Plan 2018-2022 described above, the number of shares to deliver will depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. and (ii) 50% on the generation of free cash flow of the Telef&#243;nica Group ("FCF").</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Once considered the target fulfillment levels for 2018, 2019, and 2020, a weighted achievement ratio of 50% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in 2019 and finalized on December 31, 2021. The maximum number of shares assigned to this cycle of the plan was 812,000, assigned as of January 1, 2019 with a unit fair value of 6.1436 euros per share for FCF objective and 4.4394 euros for TSR.  As of December 31, 2021 the number of outstanding shares was 690,750. Once considered the target fulfillment levels for 2019, 2020, and 2021, a weighted achievement ratio of 50% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2020 the third and final cycle commenced, which finalized on December 31, 2022. The maximum number of shares assigned to this cycle of the plan was 897,400, assigned as of January 1, 2020 with a unit fair value of 3.2136 euros per share for FCF objective and 1.6444 euros for TSR. As of December 31, 2022 the number of outstanding shares was 761,600. Once considered the target fulfillment levels for 2020, 2021, and 2022, 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.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Long-term incentive plan based on Telef&#243;nica, S.A. shares: &#8220;Talent for the Future Share Plan 2021-2025&#8221; (TFSP) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At its meeting on March 17, 2021, the Telef&#243;nica, S.A.'s Board of Directors agreed to launch a new installment of the long-term incentive plan "Talent for the Future Share Plan". </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The term of this plan is also five years and it is divided into three cycles. As in the case of the Performance Share Plan 2021-2025 described above, the number of shares to deliver will depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#243;nica, S.A. with regard to the TSRs of a comparison group  made up of companies of the telecommunication sector, weighted by its relevance for Telef&#243;nica, (ii) 40% on the generation of free cash flow of Telef&#243;nica Group ("FCF"), and (iii) 10% on CO2 Emission Neutralization, in line with the goal set by the Company.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The first cycle commenced in 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 1,751,500 and the outstanding shares at December 31, 2022 was 1,659,500, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">First cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">875,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700,600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">663,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175,150&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165,950&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 1,646,500 and the outstanding shares at December 31, 2022 was 1,611,000, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Second cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">823,250&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">805,500&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.43&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">658,600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644,400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164,650&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161,100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Incentivized purchases of Telef&#243;nica, S.A. shares for employees </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica, S.A. Ordinary General Shareholders&#8217; meeting on April 8, 2022 approved a new voluntary plan for incentivized purchases of shares of Telef&#243;nica, S.A. for the employees of the Group. Under this Plan, employees are offered the option to acquire Telef&#243;nica, 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 can invest is limited to 1,800 euros. The total number of free shares to be delivered for the whole plan may never exceed 0.38% of the share capital of Telef&#243;nica, S.A. at the date of approval of the plan at the General Shareholders' Meeting.</span></div>The purchase period commenced in October 2022 and will finalize in September 2023. In March 2024 the vesting period of the plan will end. At December 31, 2022, 27,518 employees had registered for the plan.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 44<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_44&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Payment Arrangements [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489802002256">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfCashFlowStatementExplanatory', window );">Cash Flow Detail</a></td>
<td class="text">Cash flow detail<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net cash flow provided by operating activities</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of net cash flow provided by operating activities is the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.281%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash received from operations</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,925</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,415</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">51,353</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash paid from operations</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34,778)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34,379)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(36,477)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash paid to suppliers</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,509)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,236)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31,080)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash paid to employees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,416)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,299)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,434)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments related to cancellation of commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(853)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(844)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(963)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net payments of interest and other financial expenses net of dividends received</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(292)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,309)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,171)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net interest and other financial expenses paid</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,236)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,519)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,193)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">944&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Taxes proceeds / (payments)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(92)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(459)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(509)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,763</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,268</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,196</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, dividends amounting to 800 million pounds were received from VMED O2 UK Ltd (see Note 10) equivalent to 909 million euros (161 million pounds, equivalent to 187 million euros in 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net cash flow used in investing activities</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a detail of the items comprising the net cash flow used in investing activities.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:68.738%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.272%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds from the sale in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">842&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">509&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments on investments in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,350)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,728)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,529)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,508)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,164)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7,020)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments for non-financed spectrum in 2022 totaled 27 million euros, mainly due to the payment of 11 million euros for Telef&#243;nica M&#243;viles Argentina and 8 million euros for Telef&#243;nica de Espa&#241;a.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payments for non-financed spectrum in 2021 totaled 999 million euros, mainly due to the payment of 521 million euros for Telef&#243;nica United Kingdom, 343 million euros for Telef&#243;nica Spain and 131 million euros for Telef&#243;nica Chile.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.538%"><tr><td style="width:1.0%"/><td style="width:66.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.730%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.733%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Constitution of VMO2 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 2)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(256)</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,872&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of Telecommunications towers divisions of Telxius (Note 2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,434&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax associated with the sale of the tower division of Telxius (Note 25)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(917)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of Telef&#243;nica de Costa Rica</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">442&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of InfraCo</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax associated with the sale of InfraCo</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(124)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of fiber assets of Colombia Telecomunicaciones</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred collection sale of T. Ireland</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panama in Telef&#243;nica Centroam&#233;rica Inversiones, S.L.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(115)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,369</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">81</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Oi mobile assets acquisition (Note 2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(986)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental acquisition (Note 5)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(178)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna acquisition (Note 5)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(328)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cancom acquisition (Note 5)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(374)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital increase of UGG TopCo (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(79)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payments on investments in companies, net of cash and cash equivalents acquired</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,628)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(414)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(79)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Cash received (see Note 2) less: (i) Cash and cash equivalents of Telefonica UK at the date of its exit from the scope of consolidation, and (ii) payments made in 2021 and 2022  to the O2 UK pension plan and other expenses (see Note 29.c).</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"><tr><td style="width:1.0%"/><td style="width:65.714%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.961%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.961%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.964%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Collateral guarantees on derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,897&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,224&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal deposits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds on financial investments not included under cash equivalents</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,967</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,308</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal deposits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Collateral guarantees on derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,195)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,228)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,251)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investment in funds shares of Telef&#243;nica Brasil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term financial instruments of Pegaso PCS (Note 12)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(260)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(116)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(122)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payments on financial investments not included under cash equivalents</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,575)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,474)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,297)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net proceeds/(payments) for temporary financial investments</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,532</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,584)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">217</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net proceeds/(payments) for temporary financial investments mainly includes placements of treasury surpluses not included in cash equivalents.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net cash flow used in financing activities</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a detail of the items comprising the net cash flow used in financing activities.</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"/><td style="width:65.615%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.092%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.948%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends paid to the shareholders of Telef&#243;nica, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(959)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(617)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(825)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(268)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(227)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(161)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(165)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(156)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#243;nica Centroam&#233;rica Inversiones, S.L.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telxius for the sale of the telecommunications tower divisions (see Note 17.h)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,603)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid (see Note 17)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,397)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,630)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,296)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share capital increase Pontel and Telxius (see Note 17.h)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">323&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Establishment of Bluevia Fibra (see notes 2 and 17.h)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,021&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds from share capital increase with minority interests</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">323</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Own shares purchase of Telef&#243;nica Brasil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(111)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(78)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Shares purchase of Telef&#243;nica Deutschland</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(51)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transactions carried out by Telef&#243;nica, S.A. (see Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(365)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(478)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Centroam&#233;rica Inversiones, S.L. share premium (ECPN.) refund related to the sale of T. Guatemala, T. Nicaragua and T. Panama</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(555)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(604)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(223)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of undated deeply subordinated securities (Note 17)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisition of undated deeply subordinated securities (Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(750)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,750)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(385)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payment of undated deeply subordinated securities (Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(808)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payment of the coupon related to the issuances of undated deeply&#160;subordinated securities issued (see Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(268)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(354)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(327)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operations with other equity holders</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(268)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(354)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,020)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:66.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.897%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.897%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.311%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issued under the EMTN program of Telef&#243;nica Emisiones, S.A.U.&#160;(see Appendix III)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,500&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">535&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of Telef&#243;nica Brasil, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Appendix III)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of Colombia Telecomunicaciones S.A, ESP BIC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds on issue of debentures and bonds, and other debts</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,746</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">561</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,011</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loans of Telef&#243;nica, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of 750 million euros by Telef&#243;nica Germany GmbH </span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of Telxius Telecom, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loan of Telef&#243;nica Brasil, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of Bluevia Fibra S.L. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Settlement of nominal value of gross debt hedging derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, ESP BIC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">436&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,135&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,611&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds on loans, borrowings and promissory notes (see Appendix V)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">839</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,085</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,516</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayments of debentures and bonds, and other debts</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,541)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,847)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,728)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Telef&#243;nica, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(750)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Colombia Telecomunicaciones, S.A. ESP BIC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(200)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization bilateral loans of Colombia Telecomunicaciones, S.A. ESP BIC </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Telxius Telecom, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(70)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Settlement of nominal value of amortized debt hedging derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(715)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(139)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,175)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,713)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayments of loans, borrowings and promissory notes&#160;(see Appendix V)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,077)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,146)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,852)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease principal payments (Note 20)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,996)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,782)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,787)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financed spectrum licenses payments (Note 21)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(549)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(57)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(60)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments for investments in spectrum use licenses financed without explicit interest<br/>(Notes 2 and 21)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to suppliers with extended payment terms</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financed operating payments and investments in property, plant and equipment and intangible assets payments </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(698)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(273)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(382)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Data</span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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.</span></div><span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a statement of cash flows.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Section Presentation of a statement of cash flows<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS07_g10-17__IAS07_g10-17_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash Flow Statement [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799602864">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalInformationAbstract', window );"><strong>Additional information [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAdditionalInformationExplanatory', window );">Other Information</a></td>
<td class="text">Other information<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Litigation and arbitration</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, 2022 were prepared. The provisions recorded in respect of the commitments taken as a whole are not material.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following unresolved legal proceedings or those underway in 2022 are highlighted (see Note 25 for details of tax-related cases):</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the decision by Agencia Nacional de Telecomunica&#231;&#245;es (&#8220;ANATEL&#8221;) regarding the inclusion of interconnection and network usage revenues in the Fundo de Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es (&#8220;FUST&#8221;) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Vivo Group operators (currently "Telef&#243;nica Brasil"), together with other cellular operators, appealed ANATEL&#8217;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 Universaliza&#231;&#227;o de Servi&#231;os de Telecomunica&#231;&#245;es) &#8211;a fund which pays for the obligations to provide Universal Service&#8211; with retroactive application from 2000. On March 13, 2006, Brasilia Federal Regional Court no. 1 granted a precautionary measure which stopped the application of ANATEL&#8217;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&#8217;s calculation and rejecting the retroactive application of ANATEL&#8217;s decision. On January 26, 2016, ANATEL filed an appeal to overturn this decision with Brasilia Federal Regional Court no. 1, which was also dismissed. On May 10, 2017 ANATEL appealed to the higher courts on the merits of the case. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time, Telef&#243;nica Brasil and Telef&#243;nica Empresas, S.A., together with other wireline operators through ABRAFIX (Associa&#231;&#227;o Brasileira de Concession&#225;rias de Servi&#231;o Telefonico Fixo Comutado) appealed ANATEL&#8217;s decision of December 16, 2005, also obtaining the precautionary measures requested. On June 21, 2007, Brasilia Federal Regional Court no. 1 ruled that it was not appropriate to include the interconnection and network usage revenues in the FUST&#8217;s taxable income and rejected the retroactive application of ANATEL&#8217;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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of the claim is quantified at 1% of the interconnection revenues. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the Decision of the European Commission dated January 23, 2013, to sanction Telef&#243;nica for the infringement of Article 101 of the Treaty on the functioning of the European Union </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 19, 2011, the European Commission initiated formal proceedings to investigate whether Telef&#243;nica, S.A. (Telef&#243;nica) and Portugal Telecom SGPS, S.A. (Portugal Telecom) had infringed European Union antitrust laws with respect to a clause contained in the sale and purchase agreement of Portugal Telecom&#8217;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</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 23, 2013, the European Commission passed a ruling on the formal proceedings. The ruling imposed a fine on Telef&#243;nica in the amount of 67 million euros, as the European Commission ruled that Telef&#243;nica 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&#8217;s ownership interest of Brasilcel, N.V. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 9, 2013, Telef&#243;nica filed an appeal for annulment of this ruling with the European Union General Court. On August 6, 2013, the European Union General Court notified Telef&#243;nica 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, Telef&#243;nica filed its reply. On December 18, 2013, the European Commission filed its appeal.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A hearing was held on May 19, 2015, at the European Union General Court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica on services in which there was not potential competition or were outside the scope of Clause Nine.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 23, 2016, the European Commission filed its response against the Telef&#243;nica's appeal. On January 30, 2017, Telef&#243;nica filed its response. On March 9, 2017, the European Commission filed its rejoinder.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 13, 2017, the General Court dismissed the appeal filed by Telef&#243;nica. The European Commission, which was urged to recalculate the amount of the fine in the judgment of the General Court of June 2016, issued a resolution on January 25, 2022, imposing a fine of  67 million euros on Telef&#243;nica. In April 2022, Telef&#243;nica paid the fine of 67 million euros imposed, bringing the procedure to an end.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Decision by the High Court regarding the acquisition by Telef&#243;nica of shares in &#268;esk&#253; Telecom by way of a tender offer </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venten Management Limited ("Venten") and Lexburg Enterprises Limited ("Lexburg") were non-controlling shareholders of &#268;esk&#253; Telecom. In September 2005, both companies sold their shares to Telef&#243;nica in a mandatory tender offer. Subsequently, Venten and Lexburg, in 2006 and 2009, respectively, filed actions against Telef&#243;nica claiming a higher price than the price for which they sold their shares in the mandatory tender offer.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica'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 Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2016, the decision was notified to Telef&#243;nica. Telef&#243;nica filed an extraordinary appeal, requesting the suspension of the effects of the decision.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2017, Telef&#243;nica was notified of the decision of the Supreme Court, which ordered the suspension of the effects of the unfavorable decision to Telef&#243;nica issued by the High Court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, Telef&#243;nica filed its response seeking dismissal of such motion for lack of legal basis. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 14, 2019,&#160;notification was given to Telef&#243;nica of the resolution of the Supreme Court which, based on the extraordinary appeal filed by Telef&#243;nica, abolished the decision of the High Court in Prague dated August 5, 2016 and remanded the case back to the High Court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2021, the High Court of Prague confirmed its appointment of an expert in order to produce a new expert report to assess the reliability of market-based price criteria used in the mandatory tender offer and further </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">technical issues discussed in this litigation, including a new discounted cashflow valuation of the shares of &#268;esk&#253; Telecom in 2005.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the resolution of ANATEL to sanction Telef&#243;nica Brasil for breaches of the Fixed Telephony Regulation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2018, Telef&#243;nica filed a judicial action for annulment against a resolution issued by ANATEL (the National Telecommunications Agency of Brazil) in March 2018 concluding the administrative process for determination of non-compliance with obligations (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Processo Administrativo para Apura&#231;&#227;o de Descumprimento de Obriga&#231;&#245;es</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or "PADO") investigating alleged infractions of the Fixed Telephony Regulation by Telef&#243;nica Brasil.     </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This PADO investigation had been suspended during the negotiations of the conduct adjustment term (</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Termo de Ajustamento de Conduta</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> or "TAC") between Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In its resolution of March 2018, ANATEL considered that Telef&#243;nica Brasil committed several infractions, specifically 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fine imposed by ANATEL and appealed by Telef&#243;nica Brasil is approximately 211 million Brazilian reals (approximately 38 million euros), which amounted to approximately </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">575</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million Brazilian reals after currency value updates and accrued interest as of December 31, 2022 (approximately </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">103</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brasil has not yet paid the fine, although Telef&#243;nica Brasil has guaranteed its payment through a guarantee insurance submitted to the court.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of the date of these financial statements, there has been no conciliation and the proceeding is following its normal course.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ICSID Arbitration Telef&#243;nica, S.A. vs. Republic of Colombia</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the local arbitration brought by Colombia against Colombia Telecomunicaciones (&#8220;ColTel&#8221;), 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 29, 2017, ColTel&#8217;s share capital was increased in order to make the payment ordered by the local arbitral award; Telef&#243;nica, S.A. contributed and disbursed an amount equivalent to 67.5% of the award&#8217;s amount (317  million euros) and the Colombian Government contributed an amount equivalent to the remaining 32.5% (153 million euros).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2018, Telef&#243;nica, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The ICSID Court was constituted on February 26, 2019, with Jos&#233; Emilio Nunes Pinto as President, Horacio A. Grigera Na&#243;n appointed by Telef&#243;nica, S.A., and Yves Derains appointed by Colombia. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Colombia filed Preliminary Objections on Jurisdiction on August 5, 2019. Telef&#243;nica, S.A. responded to Colombia&#8217;s objections in its Claimant&#8217;s Memorial on September 23, 2019, in which it also requested that Colombia pay compensation for damages caused to Telef&#243;nica, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 23, 2019, Colombia submitted its Complementary Objections on Jurisdiction as well as a request for Bifurcation, to which Telef&#243;nica, S.A. responded on November 29, 2019. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica, S.A.&#8217;s claim is pending. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 3, 2020, Colombia filed its reply to the claim filed by Telef&#243;nica before the ICSID.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2, 2020, Telef&#243;nica presented its response to Colombia's reply.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the hearing held in April 2021, on July 27, 2021 the hearing of closing arguments was held, and the parties are awaiting the issuance of the arbitration award.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica's lawsuit against Millicom International Cellular for default in the sale of Telef&#243;nica de Costa Rica</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. (Telef&#243;nica) 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 Telef&#243;nica de Costa Rica TC, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Millicom expressed its refusal to proceed with the closing, arguing that the competent Costa Rican administrative authorities had not issued the appropriate authorization.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 25, 2020, Telef&#243;nica 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 Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 29, 2020, Millicom filed a Motion to Dismiss, to which Telef&#243;nica replied on July 8, 2020.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 3, 2020, Telef&#243;nica 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 to Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 5, 2021, the Motion to Dismiss filed by Millicom in June 2020 was dismissed by the New York Supreme Court. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">ICSID Arbitration Telef&#243;nica, S.A. vs. Republic of Peru</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 5, 2021, Telef&#243;nica filed a request for arbitration against the Republic of Peru at the ICSID, which was formally registered on March 12, 2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica bases its claims on the Agreement for the Promotion and Reciprocal Protection of Investments between the Kingdom of Spain and the Republic of Peru ("APRPI") signed on November 17, 1994. Telef&#243;nica argues that the Peruvian tax administration (called Superintendencia Nacional de Aduanas y de Administraci&#243;n Tributaria, known as "SUNAT") and other state bodies have failed to comply with the obligations established in the APRPI, including by adopting arbitrary and discriminatory actions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is requested that the defendant be ordered to fully compensate Telef&#243;nica for all damages suffered.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the Tribunal was constituted, on February 9, 2023, Telef&#243;nica filed a request for urgent injunctive relief together with a request for injunctive relief, requesting the suspension of the administrative litigation (acci&#243;n contencioso-administrativa or ACA) related to the income tax for the years 1998, 2000 and 2001, as well as the extension of the deadline for submission by Telef&#243;nica of the memorial or claim. Following response of Peru, on February 16, 2023, the Tribunal ruled to dismiss Telef&#243;nica's request for urgent injunctive relief, to establish the procedural calendar to process the request for injunctive relief and to grant Telefonica two additional weeks to file the memorial or claim.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2013) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2013, Telef&#243;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#243;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#243;nica Brasil for a period of fifteen years).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to ANATEL the renewals, which must be carried out every two years, should be accompanied by a payment equivalent to 2% of all income derived from the provision of personal mobile services, while Telef&#243;nica </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2020, Telef&#243;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the amount under litigation was 774&#160;million Brazilian reais (139 million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2015)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2015, Telef&#243;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#243;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#243;nica Brasil for a period of fifteen years).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">According to ANATEL the renewals, which must be carried out every two years, should be accompanied by a payment equivalent to 2% of all income derived from the provision of personal mobile services, while Telef&#243;nica Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2016, Telef&#243;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed. Pending judgment on appeal.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the amount under litigation was 400&#160;million Brazilian reais (72&#160;million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">UK High Court claim by Phones 4 U Limited against various mobile network operators and other companies, among others, Telef&#243;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In late 2018, Phones 4U Limited (in administration) (&#8220;P4U&#8221;) commenced a claim in the English High Court in London against various mobile network operators: Everything Everywhere, Deutsche Telekom, Orange, Vodafone, Telef&#243;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited (together the &#8220;Defendants&#8221;).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U carried on a business of selling mobile phones and connections to the public, such connections being supplied by mobile network operators including the Defendants.  In 2013 and 2014, the Defendants declined to extend and / or terminated their contracts to supply connections to P4U. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U went into administration in September 2014. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">P4U alleges that the Defendants ceased to supply connections because they had colluded between themselves in contravention of the United Kingdom and the European Union competition laws and asserts that it has a basis to claim damages for breach of competition law by all the Defendants. The Defendants deny all P4U&#8217;s allegations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The claim commenced on December 18, 2018 by P4U. The Defendants filed their initial Defences in the course of April and May 2019, with P4U filing replies on October 18, 2019. The first case management conference took place on March 2, 2020. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The trial was held between May and July 2022. The parties are awaiting the issuance of the sentence.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b) Other proceedings</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Commitments</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement related to the Sale of Customer Relationship Management (&#8220;CRM&#8221;) Business, Atento </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the sale agreement of Atento by Telef&#243;nica, announced on October 12, 2012, and ratified on December 12, 2012, both companies signed a Master Service Agreement which regulates Atento&#8217;s relationship with the Telef&#243;nica Group as a service provider for a period of nine years and which has been amended on May 16, 2014, November 8, 2016, May 11, 2018, November 28, 2019 and February 4, 2022. The term of the agreement was extended for Spain and Brazil in November 2016, for two additional years until the end of 2023, and for Latin America in February 2022, for one additional year until the end of 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By virtue of this agreement, Atento became Telef&#243;nica&#8217;s preferred Contact Center and Customer Relationship Management (&#8220;CRM&#8221;) 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 Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s business margin to the final calculation.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s sales to the Telef&#243;nica Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Master Agreement sets forth a reciprocal arrangement, whereby Atento assumes similar commitments to subscribe certain telecommunications services from Telef&#243;nica.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investment Framework Agreement between the shareholders of Colombia Telecomunicaciones, S.A. ESP BIC - Sale of shares</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Framework Investment Agreement entered into between the shareholders of Colombia Telecomunicaciones, S.A. ESP BIC (a) if Telef&#243;nica decides to dispose or transfer of all or part of its shareholding in Colombia Telecomunicaciones, S.A. ESP BIC to third parties, Telef&#243;nica 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 BIC 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 Telef&#243;nica and through the procedure established by Law 226 of 1995 for the disposal of shares held by public entities and, (b) if the Colombian Government transfer its shares in Colombia Telecomunicaciones, S.A. ESP BIC 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the sale of the shares of Telef&#243;nica Gesti&#243;n de Servicios Compartidos Espa&#241;a, S.A.U., Telef&#243;nica Gesti&#243;n de Servicios Compartidos Argentina, S.A. and T-Gestiona Servicios Contables y Capital Humano, S.A.C.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 1, 2016, a share purchase agreement between, on one hand, Telef&#243;nica, S.A., Telef&#243;nica Servicios Globales, S.L.U. and Telef&#243;nica Gesti&#243;n de Servicios Compartidos Per&#250;, S.A.C. (as sellers), and, on the other hand, IBM Global Services Espa&#241;a, S.A., IBM del Per&#250;, S.A.C., IBM Canada Limited and IBM Americas Holding, LLC (as purchasers) for the sale of the companies Telef&#243;nica Gesti&#243;n de Servicios Compartidos Espa&#241;a, S.A.U., Telef&#243;nica Gesti&#243;n 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the aforementioned share purchase agreement and in connection with the latter transaction, also, on December 31, 2015, Telef&#243;nica subscribed a master services agreement with IBM for the outsourcing of economic-financial and HR activities and functions to be provided to the Telef&#243;nica Group during a period of ten years, for a total amount of approximately 450 million euros. Most of the Telef&#243;nica Group&#8217;s subsidiary companies have already adhered to that master services agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 31, 2021 and March 31, 2022 the master services agreement with IBM for the outsourcing of economic-financial and HR activities and functions to be provided to the Telef&#243;nica Group was amended. By virtue of these amendments the term may be extended for those adhered companies that decide to extend their services beyond the initial term.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on July 29, 2022 a new amendment was executed by virtue of which the term may be extended for those adhered companies in Latinoamerica that decide to extend some of their services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Commitments derived from the agreements reached for the acquisition of football (soccer) related rights between Telef&#243;nica (through its affiliate Telef&#243;nica Audiovisual Digital, S.L.U.) and LaLiga, UEFA and RFEF </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 25, 2018, Telef&#243;nica 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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Telef&#243;nica, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2018, Telef&#243;nica 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).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2019 the definitive agreement on such broadcasting rights (package 6) was signed. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 2, 2020 Telef&#243;nica 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, after the expiration of the agreement with Mediapro of June 28, 2018 for previous cycle 2018/2019 to 2020/2021.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreement guarantees Telef&#243;nica all media rights with respect to the main European football competitions for all its customers, both residential and horecas (hotels, restaurants, cafes, etc.).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The direct acquisition from UEFA of this "premium" content will also allow Telef&#243;nica 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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 previous cycle and without any year-to-year increase.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 13, 2021, Telef&#243;nica was provisionally awarded the exclusive broadcasting rights of five matches per matchday of the Campeonato Nacional de Liga de Primera Divisi&#243;n (&#8220;LaLiga&#8221;), for pay television in the residential market, in Spain. Telef&#243;nica received the first pick in 18 matchdays of each season and second pick in 17 matchdays, including "El Cl&#225;sico" of the second round (Option D bis, Lot D.1 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, Telef&#243;nica was awarded the exclusive broadcasting rights of three matchdays, which contain ten matches each matchday, including matches of Real Madrid C.F., F.C. Barcelona and Club Atl&#233;tico de Madrid against the six first classified of the previous season; and Valencia C.F., Athletic Club de Bilbao or Real Betis Balompi&#233;, if they were not among the aforementioned first classified (Option D bis, Lot D.3 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award includes the cycle 2022/2023 to 2026/2027 although the 2025/2026 and 2026/2027 seasons are subject to the CNMC lifting or modifying the resolution that limits the maximum duration of the contracts entered into by Telef&#243;nica for the acquisition of sports rights (Expte. VC/0612/14).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award has been made at a price of 520&#160;million euros for each of the seasons. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The award was subject to the execution of an agreement between Telef&#243;nica and LaLiga with the remaining terms and requirements established in the LaLiga tender, which was signed on January 19, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 28, 2022, Telef&#243;nica entered into an agreement with the company DAZN for the distribution of the so-called DAZN LaLiga Package. Such package includes the remaining five football matches per match-weekend of the Spanish First Division Football Championship, in 35 out of 38 match-weekends for exploitation on pay television for residential subscribers in Spain (Option D bis, Package D.2 bis).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This is a non-exclusive agreement for five seasons, from 2022/2023 to 2026/2027. The agreed value amounts 280&#160;million euros for each of the seasons.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on July 29, 2022, Telef&#243;nica signed a new contract with LaLiga for the non-exclusive broadcasting of the channel that broadcasts matches of Second Division of National Football Championship League for seasons 2022/2023, 2023/2024 and 2024/2025, with Telef&#243;nica&#8217;s unilateral option to extend for two additional seasons, with a variable cost that amounts to approximately 16&#160;million euros per season.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Similarly, on August 4, 2022, a contract was formalized with LaLiga for the non-exclusive broadcast of the LaLiga TV Bar Channel for non-residential subscribers for the 2022/2023 season with a minimum guarantee of 29 million euros, being the final price variable.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2, 2022, Telefonica was also awarded by Real Federacion Espa&#241;ola de f&#250;tbol (RFEF) exclusive pay television rights of Copa del Rey Competiton and Supercopa de Espa&#241;a for seasons 2022/2023, 2023/2024 and 2024/2025. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Wholesale Access Services Agreement with AT&amp;T Mexico</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 21, 2019, Pegaso PCS, S.A. de C.V. (&#8220;Telef&#243;nica M&#233;xico&#8221;) and AT&amp;T Comunicaciones Digitales, S. de R.L. de C.V. (&#8220;AT&amp;T Mexico&#8221;) entered into a Wholesale Access Services Agreement (&#8220;Wholesale Agreement&#8221;), under which AT&amp;T Mexico agreed to provide wholesale wireless access to Telef&#243;nica M&#233;xico on 3G, 4G and any other future technology available in Mexico.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Wholesale Agreement has a minimum duration of eight years, renewable for additional consecutive periods of three years. Such Wholesale Agreement establishes a gradual migration of Telef&#243;nica M&#233;xico&#8217;s traffic to AT&amp;T Mexico's access network over the first three years of the agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As set forth in the Wholesale Agreement such migration was completed during the first half of 2022. As a result, Telef&#243;nica M&#233;xico&#8217;s wireless access infrastructure was turned off and Telef&#243;nica M&#233;xico no longer uses the licensed spectrum that it used in the past to operate its network. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement to share network infrastructure between Telef&#244;nica Brasil (VIVO) and TIM. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 19, 2019 Telef&#244;nica Brasil S.A. and TIM S.A. executed two agreements for the share of 2G, 3G and 4G mobile network infrastructure. Both companies reiterate that they will preserve their commercial and customer management autonomy, regardless of any infrastructure sharing agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreements cover the following matters:</span></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">2G network Sharing: to be implemented in areas where both operators are present, so that the operator reminiscent will provide 2G mobile connectivity services to the Vivo and TIM customer base, resulting in the disconnection of overlapping sites and therefore achieving cost reduction and the optimization of spectrum use.</span></div><div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt">3G and 4G network Sharing: covering only cities with less than 30 thousand inhabitants with the aim of sharing 4G and 3G network in cities where only one operator is present (coverage expansion) and where both already provide services (network consolidation). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Both agreements were approved by the Telecommunications and Competition regulatory authorities ("Ag&#234;ncia Nacional de Telecomunica&#231;&#245;es&#8221; - ANATEL and &#8220;Conselho Administrativo de Defesa Econ&#243;mica&#8221; - CADE).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Contracts for the provision of IT services with Nabiax </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2019 Telef&#243;nica, S.A. signed an agreement for the sale of a portfolio of eleven data center businesses to a company (hereinafter "Nabiax") controlled by Asterion Industrial Partners SGEIC, S.A. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the same time as this sale, agreements were entered into with Nabiax to provide housing services to the Telef&#243;nica Group, allowing Telef&#243;nica to continue providing housing services to its customers, in accordance with its previous commitments.&#160;Such service provision agreements have an initial term of ten years and include minimum consumption commitments in terms of capacity. These commitments are consistent with the Group's expected consumption volumes, while prices are subject to review mechanisms based on inflation and market reality. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2021, Asterion Industrial Partners SGEIC, S.A. and Telef&#243;nica Infra (T. Infra), the infrastructure unit of the Telef&#243;nica Group, reached an agreement for the contribution to Nabiax of four additional data centers owned by the Telef&#243;nica Group (two of them located in Spain and two in Chile). In exchange for the contribution of these four data centers, T. Infra will receive a 20% equity stake in Nabiax. Once the relevant authorizations and other conditions precedent to the contribution of the two data centers located in Spain were obtained, the partial closing of the transaction took place as of July 21, 2021, whereby Telef&#243;nica Group contributed those data centers to Nabiax, with T. Infra receiving in exchange a 13.94% stake in Nabiax at this stage. The agreement was complemented by the signing of a contract for the provision to Telef&#243;nica of housing services from those two data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period of ten years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the conditions related to the contribution of the two data centers located in Chile were fulfilled, on May 24, 2022, the complete closing of the transaction took place, and T. Infra reached a 20% stake in Nabiax (see Note 10). The agreement was complemented by the signing of a contract for the provision to Telef&#243;nica of housing services from those two data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period ending in 2031.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">50:50 joint venture with Liberty Global for the combination of both groups' businesses in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2020, Telef&#243;nica agreed to enter into a joint venture with Liberty Global plc ("Liberty Global") pursuant to a contribution agreement (as amended, the "Contribution Agreement") between Telef&#243;nica, Telefonica O2 Holdings Limited, Liberty Global, Liberty Global Europe 2 Limited and a newly formed entity of which, after closing, each of Telef&#243;nica and Liberty Global would hold 50% of its share capital named VMED O2 UK Limited.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After having obtained the clearance from the Competition and Market Authority (the antitrust authority in the UK) to complete this transaction and having fulfilled all the other pre-closing conditions included in the Contribution Agreement, the transaction was completed on</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">June 1, 2021. From such date, Telef&#243;nica and Liberty Global each hold an equal number of shares in VMED O2 UK Limited; after: (i) Telef&#243;nica having contributed to VMED O2 UK Limited its O2 mobile business in the United Kingdom and (ii) Liberty Global having contributed its Virgin Media business in the United Kingdom to VMED O2 UK Limited.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The corporate governance of VMED O2 UK Limited is regulated by a shareholders' agreement, which was entered into by the parties to the Contribution Agreement on June 1, 2021 (the "Shareholders' Agreement").</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the date of closing of the transaction, Telef&#243;nica, Liberty Global, and certain companies belonging to each shareholder&#8217;s corporate group entered into certain services, reverse services, licensing and data protection agreements with VMED O2 UK Limited and certain entities belonging to the VMED O2 UK Limited group. In particular, Telef&#243;nica and Liberty Global agreed that each shareholder&#8217;s group would provide certain services, either on a transitional or ongoing basis to VMED O2 UK Limited and its group and that, for a limited period of time, VMED O2 UK Limited would also provide certain reverse services to specific companies belonging to the corporate group of each of its shareholders.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the terms of the above referred services agreements, the transitional services that are to be provided by the Telef&#243;nica Group to VMED O2 UK Limited shall be provided for terms ranging from 7 to 24 months while the ongoing services that are to be provided by the Telef&#243;nica Group to VMED O2 UK Limited will be provided for periods of <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM3Njk4_fe18cb56-1584-4b8a-8be8-8ebf18a8b142">two</span> to six years, depending on the service. The services provided by the Telefonica Group to VMED O2 UK Limited consist primarily of technology and telecommunication services that will be used by or will otherwise benefit VMED O2 UK Limited. In addition to providing VMED O2 UK Limited with such services, the mobile operators of the Telefonica Group and VMED O2 UK Limited will maintain their roaming commercial relationships in order to reciprocally provide roaming services for their respective customers. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, as of closing of the transaction Telef&#243;nica granted certain trademark license agreements to VMED O2 UK Limited (the &#8220;VMED O2 UK Limited Trademark Licenses&#8221;). Pursuant to the VMED O2 UK Limited Trademark Licenses, Telefonica Group licensed the use of Telef&#243;nica and O2 brand rights to VMED O2 UK Limited.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 28, 2021, Telef&#243;nica Brasil executed the Purchase and Sale Agreement of Shares and Other Covenants (the &#8220;Oi Agreement&#8221;), by and among Oi M&#243;vel SA - In Judicial Recovery, as "Seller", Telef&#243;nica Brasil, Tim S.A. and Claro S.A., as &#8220;Buyers&#8221;, and Oi S.A. - In Judicial Recovery and Telemar Norte Leste S.A. - In Judicial Recovery, as intervening parties and guarantors of the seller&#8217;s obligations. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the purchase agreement for the acquisition of the assets of Oi Group's mobile business operations  (the "UPI Mobile Assets") took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), a special purpose company, to which the mobile assets of Oi Group assigned to Telef&#243;nica Brasil had been contributed under the segregation plan stated in the Oi Agreement.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount of 5,373 million Brazilian reais (approximately 1,063 million euros at the exchange rate at such date), having paid, on such day, the amount of 4,885 million Brazilian reais (approximately 972 million euros). The remaining amount, equivalent to 10% of the payment made on that date, was withheld and its release is currently subject to certain ongoing discussions regarding price adjustments, as provided for in the Oi Agreement. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, on such date, Telef&#243;nica Brasil: (i) committed to an additional payment of 110 million Brazilian reais (approximately 23 million euros) of which 40 million Brazilian reais were paid at that date (approximately 8 million euros), subject to the fulfilment of certain targets by Oi; (ii) made a payment of approximately 148 million Brazilian reais (approximately 29 million euros) for certain transition services to be provided by Oi to Garliava; and (iii) entered into a take-or-pay data transmission capacity agreement, with a net present value of 179 million Brazilian reais (approximately 35 million euros), to be paid in monthly installments during a period of 10 years.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The mobile assets of Oi Group finally assigned to Telef&#243;nica Brasil were the following:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt">Customers: approximately 12.5 million (equivalent to 30% of the total customer base of the mobile assets of Oi Group) &#8211; according to ANATEL&#8217;s February 2022 data;</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">b.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt">Spectrum: 43MHz as national population-weighted average (46% of the radiofrequency of the mobile assets of Oi Group); and</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">c.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.23pt">Infrastructure: contracts for the use of approximately 2.7 thousand sites of mobile access (corresponding to 19% of the sites of the mobile assets of Oi Group).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All commitments assumed were duly submitted to ANATEL and CADE during 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 3, 2022, Telef&#243;nica Brasil initiated an arbitration procedure against Oi S.A. &#8211; In Judicial Recovery (&#8220;Seller&#8221;), pursuant to the terms of the Oi Agreement, alleging manifest breach by Seller of certain terms of the Oi Agreement, after the exchange of notices about the post-closing price adjustment between Buyers and Seller, upon the competent request of arbitration filed with the Market Arbitration Chamber. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2023, Telef&#243;nica Brasil's Extraordinary Shareholders' Meeting was held and Garliava&#8217;s merger into Telef&#243;nica Brasil was approved, subject to prior approval from ANATEL and the conclusion of certain systemic operations. Once such conditions are fulfilled, Telef&#243;nica Brasil&#8217;s Board of Directors will convene a new meeting to verify the accomplishment of such conditions and to give effects to said merger.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investment Agreement with Allianz and Telef&#243;nica Germany</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 29, 2020, Telef&#243;nica Infra Germany GmbH (&#8220;TEF Infra Germany&#8221;, a subsidiary indirectly wholly-owned by Telef&#243;nica through Telef&#243;nica Infra, S.L.U.) entered into an investment agreement (and related contracts, including a partners&#8217; agreement which sets forth the principles of corporate governance of the joint venture) with several entities belonging to the Allianz Group ("Allianz") and Telef&#243;nica Germany 1. Beteiligungsgesellschaft mbH (a subsidiary wholly-owned by Telef&#243;nica Germany GmbH &amp; Co. OHG) (&#8220;TEF Germany&#8221;) for the creation of a joint venture to deploy Fiber-to-the-Home (FTTH) in Germany, pursuant to which TEF Infra Germany and TEF Germany conditionally agreed to invest up to 500 million euros equity in total (400 million euros by TEF Infra Germany and </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100 million euros by TEF Germany) and Allianz conditionally agreed to invest up to 1,000 million euros through different sources of funding over a six year period.&#160;&#160;&#160;&#160;</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The closing of the transaction and the acquisition of the joint control took place on December 18, 2020. The registration of Allianz and TEF Germany as limited partners of the joint venture in the German commercial registry occurred on January 21, 2021. After the closing of the transaction, the Allianz Group and the Telef&#243;nica Group each holds 50% in the joint venture under a co-control governance model. Telef&#243;nica Group&#8217;s ownership is held through TEF Infra Germany holding 40% and TEF Germany holding a 10% stake.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">New long-term master services agreement in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 7, 2021, each of Telef&#243;nica U.K. and Vodafone U.K. entered into new Master Services Agreements with Cornerstone Telecommunications Infrastructure Limited (&#8220;CTIL&#8221;), their passive tower network infrastructure partnership which is 50:50 jointly owned and operated by the two operators. The new agreements came into effect on January 1, 2021, with initial terms of 8 years, with three additional 8-year renewal periods.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CTIL was formed in 2012 through the consolidation of both Telef&#243;nica U.K. and Vodafone U.K.&#8217;s existing basic network infrastructure, including towers and masts, which were transferred to the joint operation. CTIL currently operates c.14,200 macro sites with a 2.0x tenancy ratio (including active sharing) and c.1,400 micro sites. CTIL also provides management services for the anchor tenants for a further c.5,100 third party sites where their active equipment is deployed. Telef&#243;nica's stake in CTIL is currently held through VMED O2 UK Limited (see Note 10), the joint venture between Telefonica and Liberty Global plc in the United Kingdom. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The new agreements do not materially impact existing network agreements and will continue to allow CTIL to primarily serve its shareholders as well as some third parties.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Transaction between Colombia Telecomunicaciones S.A. ESP BIC and Kohlberg Kravis Roberts (&#8220;KKR&#8221;)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 16, 2021, Colombia Telecomunicaciones S.A. ESP BIC and KKR entered into an agreement to sign the following contracts:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i) An assets purchase agreement for the fiber optic assets owned by Colombia Telecomunicaciones S.A. ESP BIC with a Colombian company controlled by KKR (InfraCo, SpA), in consideration for an initial payment of 320&#160;million U.S. dollars, which may be subject to post-closing adjustments under usual conditions for this type of operation. As well as a subsequent payment, consisting of the possibility of receiving a higher consideration from its result in network deployment activities, for an amount of up to an additional 100&#160;million U.S. dollars.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii) A contract through which Colombia Telecomunicaciones S.A. ESP BIC will acquire a 40% stake in a Spanish company controlled by KKR, which it holds the remaining 60%. The Colombia Telecomunicaciones S.A. ESP BIC&#180;s contribution would be a portion of the consideration received from assets purchase agreement for the fiber optic assets.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii) Several commercial contracts between Colombia Telecomunicaciones S.A. ESP BIC and InfraCo, SpA for the provision of wholesale connectivity services by InfraCo, SpA to Colombia Telecomunicaciones S.A. ESP BIC, deployment of fiber optic network and other related services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The signing of the contracts of numerals (i) and (iii), as well as the execution of the aforementioned operations contracts, was subject to the respective contractual provisions and to the obtaining of the necessary regulatory authorizations.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2022, after obtaining the necessary regulatory authorizations and meeting certain agreed conditions, the transaction was executed. Therefore, Colombia Telecomunicaciones S.A. ESP BIC executed the sale of fiber optic assets to Onnet Fibra Colombia S.A.S. (&#8220;Onnet&#8221;), a company with which it also entered into a series of commercial contracts by virtue of which (i) Onnet will provide wholesale connectivity services to Colombia Telecomunicaciones S.A. ESP BIC, and (ii) Colombia Telecomunicaciones S.A. ESP BIC will provide to Onnet fiber optic network deployment services and other related services. Simultaneously, Colombia Telecomunicaciones S.A. ESP BIC acquired shares equivalent to a 40% in Alamo HoldCo S.L., a Spanish company that owns 100% of Onnet's shares (see Note 10).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement for the purchase of 40% of the share capital of Telxius Telecom, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 1, 2022, Telef&#243;nica&#8217;s subsidiary, Pontel Participaciones, S.L. (&#8220;Pontel&#8221;), a company which is held 83.35% by Telef&#243;nica and 16.65% by Pontegadea Inversiones, S.L. (&#8220;Pontegadea&#8221;), reached an agreement with Taurus Bidco S.&#224; r.l. (&#8220;Taurus&#8221;, a company managed by KKR) for the purchase of  40% of the share capital of Telxius Telecom, S.A. (&#8220;Telxius&#8221;), held by Taurus, for an estimated amount of 215.7&#160;million euros, being the referred price subject to, among others, adjustments derived from the sale of the towers business to American Tower. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 18, 2023, after obtaining the necessary regulatory and competition authorizations, the transaction was completed. (See Note 31).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the transaction, Pontel, which prior to the closing of the transaction held the remaining 60% of the share capital of Telxius, has become the sole shareholder of this company. Pontegadea has increase its holding in Pontel to 30% and Telef&#243;nica holds a 70% stake. Thus, in terms of indirect holding in Telxius, Pontegadea has increased its holding from 9.99% to 30% and Telef&#243;nica from 50.01% to 70%.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement reached between Telef&#243;nica Espa&#241;a Filiales, S.A.U. (&#8220;Telef&#243;nica Espa&#241;a Filiales&#8221;), T. Infra, Vauban and Cr&#233;dit Agricole Assurances for the establishment of Bluevia Fibra</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 25, 2022, Telef&#243;nica Espa&#241;a Filiales S.A.U, Telef&#243;nica Infra S.L.U. (T. Infra) and the consortium formed by Vauban Infrastructure Partners ("Vauban") and Cr&#233;dit Agricole Assurances ("CAA") reached an agreement for the establishment of a company, Bluevia Fibra, S.L. ("Bluevia"), whose corporate purpose is the deployment and commercialization of a fiber-to-the-home (FTTH) network mainly in rural areas in Spain. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the relevant regulatory authorizations were obtained, the closing of the transaction took place on December 20, 2022. After closing, the Telef&#243;nica Group holds 55% of the capital of Bluevia (30% through Telef&#243;nica Espa&#241;a Filiales and 25% through T. Infra), with Vauban/CAA holding the remaining 45%. At closing, Bluevia purchased from Telef&#243;nica Espa&#241;a 3.9&#160;million already passed real estate units, and agreed to deploy 1.1&#160;million additional units over the next two years, reaching a total footprint of 5&#160;million passed real estate units. The 3.9&#160;million already passed real estate units acquired by Bluevia represent 14% of Telef&#243;nica's FTTH network in Spain, with Telef&#243;nica Espa&#241;a retaining ownership of the remainder of the network. In addition, as part of the transaction, the Telef&#243;nica Group has entered into a series of service provision agreements with Bluevia which entail the mutual provision and receipt of services by/to Telefonica Group and Bluevia. As part of the transaction Telefonica Group has contributed equity funds to Bluevia in the amount of approximately 1,247&#160;million euros and the Vauban/CAA consortium has acquired 45% of Bluevia from Telef&#243;nica Espa&#241;a for 1,021&#160;million euros in cash (see Note 2). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement reached by T. Infra, Liberty Global and InfraVia for the establishment of a fiber-to-the-home (FTTH) joint venture in the United Kingdom</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On July 29, 2022, T. Infra, Liberty Global plc ("Liberty Global") and InfraVia Capital Partners ("InfraVia") reached an agreement for the establishment of a joint venture, "nexfibre", for the deployment of fiber-to-the-home (FTTH) to 5&#160;million homes in the United Kingdom not reached by VMED O2 UK Limited's (VMO2) network, with potential for expansion to an additional 2&#160;million homes. The fiber network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the lead customer, as well as providing a range of technical services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and T. Infra participate by halves in a joint vehicle that holds a 50% interest in nexfibre, with InfraVia owning the remaining 50%. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The business plan for the initial rollout to 5&#160;million homes envisages an investment of approximately 4,500&#160;million pounds (approximately 5,072 million euros at the exchange rate at December 31, 2022). The three partners have funded their pro-rata share of equity funding for the construction, totaling up to 1,400&#160;million pounds (approximately 1,578 million euros at the exchange rate at December 31, 2022). In addition, nexfibre has entered into a facilities agreement with a consortium of banks for an amount of up to 3,300&#160;million pounds (approximately 3,719 million euros at the exchange rate at December 31, 2022). As part of the transaction, InfraVia has made and will continue to make certain payments to Liberty Global and T. Infra, a portion of which will be linked to the progress of the construction of the network.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d) Environmental and climate change matters</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Environmental management of the Group</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Commitment to protect the environment is part of the Company's general strategy and is the responsibility of the Board of Directors. The performance in this area is regularly supervised by the Board's Sustainability Committee and the Responsible Business Office, made up of the global areas which execute that strategy alongside the business units.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group has global environmental and energy management policies, and externally certified environmental management systems in accordance with ISO 14001 in all Group companies. The environment is a central issue throughout the Company, involving both operational and management areas as well as business and innovation areas.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Managing environmental impact and energy consumption is a strategic priority and carbon reduction targets are part of the variable remuneration of all Company employees, including the Senior Management. In addition, Telef&#243;nica, S.A.'s long-term share-based incentive plans 2021-2025 (see Note 27) include CO2 Emission Neutralization targets, in line with the target set by the Company.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Climate change and energy</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In managing climate change, Telef&#243;nica identifies adaptation and mitigation measures and new opportunities for growth and development. To analyse climate change risks, the recommendations of the Task Force on Climate Related Financial Disclosures (TCFD) are followed, identifying short, medium and long-term risks. Specifically, physical and transition risks identify the importance of reducing GHG emissions and energy consumption, and are managed in accordance with Telef&#243;nica's decarbonization roadmap. Opportunities, meanwhile, identify different lines on which Telef&#243;nica seeks to develop its activity through the Energy Efficiency Plan and the Renewable Energy Plan, the Sustainable Finance Framework and the development of new products and services.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All of this is contained in the Climate Action Plan, which defines Telef&#243;nica's decarbonization process to achieve net zero emissions by 2040, which involves minimising its own emissions (Scope 1 and 2) and those of the value chain (Scope 3).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For Telef&#243;nica, it is a priority to keep energy consumption stable despite the sharp increase in the digitalization of society and, therefore, in data traffic flowing through the networks. The Group's Energy Efficiency Plan therefore includes initiatives such as network modernization, for example, with investments in fibre optics (more efficient) replacing the copper network, or 5G, and specific projects such as climate modernization.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's decarbonization requires not only maximum efficiency in the use of energy, but also that it comes from renewable sources. Telef&#243;nica's Renewable Energy Plan contemplates different solutions such as self-generation, the purchase of renewable electricity with a guarantee of origin and long-term power purchase agreements (PPAs, see Note 26), and prioritizes non-conventional renewable electricity sources, defines the strategy that allows us to reduce operating costs and reduces exposure to fluctuations in electricity prices.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Most of the electricity consumption in own facilities come from renewable sources. In Brazil, it is worth highlighting the continuation of the distributed generation project. In Spain, the four long-term renewable power purchase agreements (PPAs) signed for the period 2022-2031 have come into operation, equivalent to 482 GWh per year for 10 years. These new agreements follow on from the one signed in 2020, enabling Telef&#243;nica to achieve a total of 582 GWh of renewable electricity covered by PPAs in Telef&#243;nica Spain. In October 2022, Telefonica Germany concluded a PPA with an energy supplier which provides long-term energy security and energy supply with renewable energies from an offshore wind farm over the period from 2025 to 2035. In February 2023 Telefonica Germany has concluded a further PPA for the period 2025 to 2040. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of renewable self-generation, the Group has photovoltaic self-generation systems in several buildings in Spain, with solar production for self-consumption (without surplus to the grid) under two models: the first with its own CapEx and the second under a service model, where the electricity generated is paid for at a lower market value.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of its net zero objective, Telef&#243;nica supports projects that absorb or reduce carbon emissions in order to offset and neutralize emissions that are not reduced. To this end, it purchases carbon credits from projects under the highest standards in certain regions where Telef&#243;nica operates. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group contracted, both locally and globally, several insurance programs in order to mitigate the possible occurrence of an incident stemming from the risks of environmental liability and/or natural disasters, to guarantee the continuity of its activity.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sustainable financing</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sustainable financing is a key tool for supporting the transformation of the business through investment in projects with a positive environmental and social impact. In 2018, the Company published its Sustainable Financing Framework. This was updated in January 2021 and, in both cases, was endorsed by a second party opinion from Sustainalytics. The framework is linked to the United Nations Sustainable Development Goals and aligned with the Green Bond, Social Bond and Sustainable Bond Principles of the International Capital Market Association (ICMA).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica was the first issuer of senior green bonds and hybrid instruments (green and sustainable) in the telecommunications sector. The funds that were obtained have been allocated to projects focused on switching our network from copper to fiber, which is more efficient and suffers fewer faults; the rollout and improvement of mobile connectivity in rural areas; and the promotion of entrepreneurship and job creation through investments in start-ups.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to senior green bonds and hybrid instruments, the Group use other sustainable bank financing tools, such as loans and credits linked to sustainability objectives that make it possible to progress steadily towards such important corporate targets as reducing emissions and gender equality. Also in this case, the main syndicated loan of the Telef&#243;nica Group is linked to sustainability criteria in line with the corporate Sustainability-linked Loan Framework, which was drawn up in late 2021 with a second opinion from Sustainalytics.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, the Company maintained an active presence in the capital market through several issuances. These included its first sustainable senior bond issuance for 1,000 million euros in May (see Appendix III) with a term of nine years. The funds obtained from this issuance will be allocated to projects related to transformation of the telecommunications network via the rollout of fiber optics and 5G technology, as well as social projects aimed at promoting inclusive connectivity, entrepreneurship and job creation. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s second hybrid green instrument issuance took place in November for the value of 750 million euros (see Note 17.c), with the first redemption date at six years. In this case, the investment from funds will be used to switch off obsolete equipment and transform mobile infrastructures through energy efficiency projects.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Despite the market instability, these two issues were well received by the market with a broadly international and diversified investor base. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Already in January 2023, a new green hybrid instrument has been issued for an amount of 1,000 million euros has been carried out (see Note 31).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil carried out its first issuance of  sustainability-linked bonds, to an aggregated amount of 3,500 million reais (equivalent to 628 million euros at closing 2022 exchange rate, see Appendix III). Financing costs are linked to compliance with sustainability targets between now and 2027.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In terms of bank financing, the Telef&#243;nica Group&#8217;s main syndicated loan was refinanced at a corporate level in early 2022 for the amount of 5,500 million euros (see Note 18 and Appendix V), the interest applied to which will be linked to compliance with sustainability targets. The deal was supported by nearly 30 entities.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Committed lines and bilateral financing operations were also carried out during the year with numerous financial entities, obtaining a total volume of 3,864 million euros at the close of 2022, the interest applied to which is also linked to compliance with sustainability targets. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Overall, as at December 31, 2022, the Group's sustainable financing amounts to 15,956 million euros, broken down as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.326%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:36.474%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sustainable financing</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,842</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior green bond of Telef&#243;nica Emisiones (Appendix III)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior sustainable bond of Telef&#243;nica Emisiones (Appendix III)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked bonds of Telef&#243;nica Brazil (Appendix III)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facilities of Colombia Telecomunicaciones</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">214&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undated deeply subordinated securities (hybrid instruments) (Note 17.c)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undrawn facilities at December 31, 2022 (Note 18)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,114</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facility of Telef&#243;nica, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facility of Telefonica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked bilateral facilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,956</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e) Auditors&#8217; fees</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The services commissioned to the auditors meet the independence requirements stipulated by the Spanish Audit Law 22/2015, July 20, the US SEC rules and the Public Company Accounting Oversight Board (PCAOB). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The expenses accrued by the Group, in respect of the fees for services rendered to the various member firms of the PwC network, of which PricewaterhouseCoopers Auditores, S.L. ("PwC Auditores, S.L."), the auditors of Telef&#243;nica, S.A., forms part, amounted to 20.07 million euros and 19.99 million euros in 2022 and 2021, respectively.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of these amounts is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:35.942%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.297%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:0 1pt"/><td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PwC Auditores, S.L.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other PwC </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PwC Auditores, S.L.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other PwC </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audit services</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.73&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.98&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18.71&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.39&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.97&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18.36&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audit-related services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.82&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8.72</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11.35</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20.07</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8.21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11.78</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19.99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Audit services includes audit fees of Telef&#243;nica, S.A. individual and consolidated financial statements and its subsidiaries, as well as reviews of interim financial statements. These Audit services also incorporate the integrated audits of the financial statements for the annual report Form 20-F to file with the US SEC for those entities currently required including, therefore, the internal control audit over the financial information to comply with the requirements of the Sarbanes-Oxley 2002 Act (Section 404). Also includes audit work related with legal and regulatory requirements that the auditor must necessarily perform in their function and audit and reviews of financial statements in connection with financial transactions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Audit-related services: services related to the review of the information required by regulatory authorities, agreed financial reporting procedures not requested by legal or regulatory bodies, the issuance of comfort letters, the report on the information relating to the system of internal control over financial reporting (ICFR) and the verification of the non-financial information in the annual reports.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During the years 2022 and 2021, the Principal Auditor has not performed other services than the Audit services or the Audit-related services in the Group.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">PwC Auditores, S.L., has provided the following services to the Group during the years 2022 and 2021: the individual and consolidated financial statements audit, reviews of interim financial statements, the integrated audit of the financial statements for the annual report Form 20-F to file with the US SEC, the internal control audit over the financial information to comply with the requirements of the Sarbanes-Oxley 2002 Act (Section 404), the issuance of comfort letters, agreed financial reporting procedures and the verification of the non-financial information in the annual reports.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The expenses accrued to Other Audit Firms, other than those integrated in the international PwC network, that have provided audit services to companies included in the consolidation of the Group for the year 2022 have amounted to a total of 1.46 million euros (1.58 million euros in 2021), the detail of the audit services corresponds to 0.83 million euros (0.55 million euros in 2021).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">f) Trade and other guarantees</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is required to issue trade guarantees and deposits for concession and spectrum tender bids (see Note 19) and in the ordinary course of its business. No significant additional liabilities in the accompanying consolidated financial statements are expected to arise from guarantees and deposits issued.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">g) Directors&#8217; and Senior Executives&#8217; compensation and other benefits</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The compensation of the members of Telef&#243;nica&#8217;s Board of Directors is governed by article 35 of the Company&#8217;s By-Laws, which provides that the annual amount of the compensation to be paid thereby to all of the Directors in their capacity as such, i.e., as members of the Board of Directors and for the performance of the duty of supervision and collective decision-making inherent in such body, shall be fixed by the shareholders at the General Shareholders' Meeting. The Board of Directors shall determine the exact amount to be paid within such limit and the distribution thereof among the Directors, taking into account the duties and responsibilities assigned to each Director, their membership on Committees within the Board of Directors and other objective circumstances that it deems relevant. Furthermore, Executive Directors shall receive such compensation as the Board determines for the performance of executive duties delegated or entrusted to them by the Board of Directors. Such compensation shall conform to the Director compensation policy approved by the shareholders at the General Shareholders&#8217; Meeting. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with the foregoing, the shareholders acting at the Ordinary General Shareholders&#8217; Meeting held on April 11, 2003 set at 6&#160;million euros the maximum amount of annual gross compensation to be received by the Board of Directors as a fixed allotment and as attendance fees for attending the meetings of the Advisory or Control Committees of the Board of Directors. Thus, as regards fiscal year 2022, the total amount of compensation accrued by the Directors of Telef&#243;nica, in their capacity as such, </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was 2,851,801</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> euros for the fixed allocation and for attendance fees.  </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The compensation of the Directors of Telef&#243;nica in their capacity as members of the Board of Directors, of the Executive Commission and/or of the Advisory or Control Committees consists of a fixed amount payable monthly and of attendance fees for attending the meetings of the Advisory or Control Committees. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Set forth below are the amounts established in fiscal year 2022 as fixed amounts for belonging to the Board of Directors, the Executive Commission and the Advisory or Control Committees of Telef&#243;nica and the attendance fees for attending meetings of the Advisory or Control Committees of the Board of Directors: </span></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Compensation of the Board of Directors and of the Committees thereof</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:24.706%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.026%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.360%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.508%"/><td style="width:0.1%"/></tr><tr><td colspan="12" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amounts in euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Position</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Board of Directors</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Executive Commission</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Advisory or Control Committees </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chairman</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">240,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vice chairman</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Executive Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proprietary Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Independent Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros.  </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this regard, it is noted that the Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, waived the receipt of the above amounts (i.e., 240,000 euros as Chairman of the Board of Directors and 80,000 euros as Chairman of the Executive Commission). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, the fixed remuneration of 1,923,100 euros established for the 2023 financial year related to executive roles carried out by Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez is equal to that received in the </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">previous seven years (i.e. 2022, 2021, 2020, 2019, 2018, 2017 and 2016), which was set in his capacity as Chief Operating Officer, remaining invariably after his appointment as Chairman in 2016. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fixed remuneration, for his executive roles, of 1,600,000 euros that the Chief Operating Officer (C.O.O.), Mr. &#193;ngel Vil&#225; Boix, has established for the 2023 financial year is equal to the one received in the years 2022, 2021, 2020 and 2019.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Individualized description</span></div>Appendix II provides an individual breakdown by item of the compensation and benefits that the members of the Board of Directors and of the Senior Management of the Company have accrued and/or received from Telef&#243;nica, S.A. and from other companies of the Telef&#243;nica Group during fiscal year 2022. Likewise, the compensation and benefits accrued and/or received, during such year, by the members of the Company's Senior Management are broken down.<span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489801977072">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operations Classified as Held for Sale<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssetsAndLiabilitiesClassifiedAsHeldForSaleAbstract', window );"><strong>Assets And Liabilities Classified As Held For Sale [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory', window );">Operations Classified as Held for Sale</a></td>
<td class="text">Operations classified as held for sale<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of non-current assets and disposal groups held for sale and liabilities associated at December&#160;31, 2022 and December&#160;31, 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:52.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.854%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fiber optic assets in Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">358</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:52.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.854%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities associated with non-current assets <br/>and disposal groups held for sale</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">134</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fiber assets in Colombia</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 16, 2021, Colombia Telecomunicaciones S.A. ESP BIC (Telef&#243;nica Colombia) entered into a sale with a Colombian company controlled by Kohlber Kravis Roberts - KKR (Onnet Fibra Colombia S.A.S) for the sale and purchase of certain fiber assets owned by Telef&#243;nica Colombia and for the provision of wholesale connectivity services by Onnet Fibra Colombia S.A.S to Telef&#243;nica Colombia, the development of activities of deployment of fiber network, and other associated services. On January 11, 2022, once the corresponding authorizations from the regulatory authorities were obtained and after the fulfillment of certain agreed conditions, the transaction was completed (see Note 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica M&#243;viles El Salvador</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 14, 2021, Telef&#243;nica Centroam&#233;rica Inversiones, S.L. (60% of which is held, directly and indirectly, by Telef&#243;nica and 40% by Corporaci&#243;n Multi Inversiones) reached an agreement with General International Telecom Limited for the sale of the entire share capital of Telef&#243;nica M&#243;viles El Salvador, S.A. de C.V. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 13, 2022, after the satisfaction of the closing conditions and once the relevant regulatory approvals were obtained, Telef&#243;nica Centroam&#233;rica Inversiones, S.L transferred its stake (99.3%) in Telef&#243;nica M&#243;viles El Salvador to General International Telecom El Salvador, S.A. de C.V. for an amount of 139 million U.S. dollars (approximately 121 million euros at the exchange rate at such date).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of assets and liabilities of Telef&#243;nica M&#243;viles 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, 2021 was as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.326%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:36.474%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. M&#243;viles El Salvador</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">211</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payable and other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">71</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of non-current assets or disposal groups classified as held for sale. [Refer: Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Assets And Liabilities Classified As Held For Sale [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794256768">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Events After the Reporting Period<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EventsAfterReportingPeriodAbstract', window );"><strong>Events After Reporting Period [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory', window );">Events After the Reporting Period</a></td>
<td class="text">Events after the reporting period<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following events regarding the Telef&#243;nica Group took place between December&#160;31, 2022 and the date of authorization for issue of the accompanying consolidated financial statements: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 13, 2023, the first annual extension of the sustainability-linked syndicated loan facility for 5,500 million euros of Telef&#243;nica, S.A. was exercised. The new expiration date is January 13, 2028.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 18, 2023, Telef&#243;nica informed that, once the corresponding regulatory and competition approvals were obtained, Pontel Participaciones, S.L., Telef&#243;nica&#8217;s subsidiary held 83.35% by Telef&#243;nica and 16.65% by Pontegadea Inversiones, S.L., acquired 40% of the share capital of Telxius Telecom, S.A. from Taurus Bidco S.&#224; r.l. (a company managed by KKR). As a result of the transaction, Pontel Participaciones, S.L., which held the remaining 60% of Telxius Telecom, S.A.'s share capital, has become the sole shareholder of Telxius Telecom, S.A. Likewise, Pontegadea Inversiones, S.L. increased its holding in Pontel Participaciones, S.L. to 30% and Telef&#243;nica has now a 70% stake.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">On January 23, 2023, Telef&#243;nica Emisiones, S.A.U. redeemed 1,277 million euros of its notes issued on January 22, 2013. These notes were guaranteed by Telef&#243;nica, S.A. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:27.65pt">In January 2023, Telef&#243;nica Europe, B.V. carried out the following transactions related to its capital structure:</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">a new issue amounting to 1,000 million euros, guaranteed by Telef&#243;nica, S.A. An amount equal to the net proceeds of the issue of the securities will be subject to specific eligibility criteria to be applied to finance new or refinance existing projects, as detailed in Telef&#243;nica's SDG Framework. The settlement took place on February 2, 2023; and</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#9702;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">a tender offer for the following hybrid instruments: (i) any outstanding 1,250 million euros Undated 5.7 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "September 2023 Notes") and (ii) any outstanding 1,000 million euros Undated 10 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "March 2024 Notes"), irrevocably guaranteed by Telef&#243;nica, S.A. Telef&#243;nica Europe, B.V. accepted the purchase in cash of the tendered securities for an aggregate principal amount, with respect to the September 2023 Notes, of 388 million euros, and an aggregate principal amount, with respect to the March 2024 Notes, of 612 million euros. The tender offer settled on February 3, 2023.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:28pt">On February 14, 2023, Telef&#243;nica, S.A. signed a bilateral loan of 150 million euros and maturing in 2033.</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2022-03-24<br> -Section Disclosure<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=10&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS10_g17-22_IAS10_g17-22_TI<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489801980592">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix I: Scope of Consolidation<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfConsolidationsAbstract', window );"><strong>Disclosure Of Consolidations [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBasisOfConsolidationExplanatory', window );">Appendix I: Scope of Consolidation</a></td>
<td class="text"><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix I: Scope of consolidation</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">The main companies of the Telef&#243;nica Group</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below lists the main companies comprising the Telef&#243;nica Group at December 31, 2022 and the main investments consolidated using the equity method.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Included for each company are the company name, corporate purpose, country, functional currency, share capital (in millions of functional currency units), the Telef&#243;nica Group&#8217;s effective shareholding and the company or companies through which the Group holds a stake.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Parent Company</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica,S.A.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U. <br/>Telecommunications service provider</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,024&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Espa&#241;a, S.A.U.<br/>Wireless communications services provider</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Teleinform&#225;tica y Comunicaciones, S.A.U. (Telyco)<br/>Promotion, marketing and distribution of telephone and telematic equipment and services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Soluciones de Inform&#225;tica y Com. de Espa&#241;a S.A.U.<br/>Telecommunications systems, networks and infrastructure engineering</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Soluciones de Outsourcing, S.A.<br/>Promotion and networks management</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Integrales de Distribuci&#243;n S.A.U.<br/>Logistic service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.<br/>Organization and operation of multimedia service-related business</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">226&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Audiovisuales, S.A.U.<br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Broadcast Services, S.L.U.<br/>DSNG-based transmission and operation services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TBSC Barcelona Producciones, S.L.U. <br/>Provision of audiovisual telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Broadcast Services, S.L.U.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. <br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Technology, S.A.U.<br/>Global management and operation of IT systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Educaci&#243;n Digital, S.L. <br/>Vertical e-learning portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A. (30%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L.  (25%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 Soluciones de Instalacion y Mantenimiento S.L. <br/>Marketing and management in the installation, sale and maintenance of photovoltaic equipment</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,975&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany Holdings Limited (69.22%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (1.36%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG<br/>Wireless communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G (70.57%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">T. Germany Management, GmbH (0.01%)    </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany (cont.)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">E-Plus Service GmbH<br/>Wireless communications services operator</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany Business Sales GmbH<br/>Technological and consulting services in Big Data provider</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Telef&#243;nica Deutschland Finanzierungs GmbH<br/>Integrated cash management, consulting and financial support for Group companies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.<br/>Wireline telephony operator </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,571&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L. (36.31%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (37.83%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile, S.A. (0.06%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Brasil, Ltda.<br/>ISP and portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Infraestructura e Seguran&#231;a Brasil Ltda.<br/>Security services and systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Brasil, Ltda.</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.<br/>Wireline telephony operator </span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,121&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vivo ventures fundo de investimento em participacoes multiestrategia.<br/>Investment funds</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A. (73.29%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L (2.00%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vita IT Com&#233;rcio e Servi&#231;os de Solu&#231;&#245;es em TI Ltda.<br/>Technical support, maintenance and other IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Infraestructura e Seguran&#231;a Brasil Ltda.</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Venezolana, C.A.<br/>Wireless communications operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Venezuela</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VED</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">394&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (86.72%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Comtel Comunicaciones Telef&#243;nicas, S.A. (2.56%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones S.A. ESP BIC<br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,410&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operaciones Tecnol&#243;gicas y Comerciales S.A.S<br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,330&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones S.A. ESP BIC </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pegaso Pcs S.A. de C.V. <br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (99.95%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Celular de Telefon&#237;a S.A. de CV. (0.05%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks M&#233;xico, S.A. de C.V.<br/>ISP, portal and real-time financial information services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">305&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fisatel M&#233;xico, S.A. de C.V. SOFOM E.N.R.<br/>Integrated cash mangement, consulting and financial support for Group companies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,505&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (99.99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pegaso Pcs S.A. de CV. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Otecel, S.A.<br/>Wireless communications services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">239,296&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Argentina, S.A. (77.64%) </span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L. (22.36%) </span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,201&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.<br/>Wireless communications services operator</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,364,872&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inversiones Telef&#243;nica Internacional Holding SpA. (98.96%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.  (1.04%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile, S.A. <br/>Local and international long distance telephony services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">809,773&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile Holdings, S.L.U.<br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica del Per&#250;, S.A.A.<br/>Local, domestic and international long distance telephone service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98.94&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Media Networks Latin America, S.A.C<br/>Telecommunications research activities and proyects</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles del Uruguay, S.A.<br/>Wireless communications and services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica , S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra Germany GmbH<br/>Broadband telecommunications operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L.  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica O2 Holdings Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.  (99.99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital S.A. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MmO2 Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica O2 Holding Ltd.</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 International Holdings Ltd.<br/>Holding company</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Europe) Ltd.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Netherlands ) Holdings BV.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 International Holdings Ltd.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany Holdings Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,463&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Europe) Ltd.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Europe) Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,895&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica International Holding, B.V<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.<br/>Sociedad holding</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. <br/>International service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Global Solutions USA, Inc.<br/>Provision of telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions Germany GmbH. <br/>International service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions M&#233;xico, S.A. de C.V.<br/>Carrying out research activities and projects in the field of telecommunications</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L.<br/>Developer Telco Services Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Ltd.<br/>Developer Telco Services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.<br/>Talent identification and development in ICT.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Chile Tecnolog&#237;a e Innovaci&#243;n Limitada<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">WY Telecom, S.A. de C.V.<br/>Talent identification and development in ICT</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Argentina, S.A.<br/>Talent identification and development in ICT</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,133&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L. (95%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (5%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Colombia, S.A.S.<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,304&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proyecto Wayra, C.A.<br/>Commercial, industrial and mercantile activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Venezuela</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VED</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Venezolana, C.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Per&#250; Aceleradora de Proyectos, S.A.C.<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra UK Ltd.<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Per&#250;, S.A.<br/>ISP and portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Argentina, S.A.<br/>ISP and portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L. (99.99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica International Holding, B.V. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telfisa Global, B.V.<br/>Integrated cash management, consulting and financial support for Group companies </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Activities Holding, B.V.<br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telfisa Global, B.V. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Services, GmbH<br/>Purchasing services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Group 3G UMTS Holding, GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Roaming, GmbH<br/>Optimization of network traffic</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Services, GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Group 3G UMTS Holding GmbH<br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Activities Holdings, B.V</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Compras Electr&#243;nicas, S.L.<br/>Development and provision of information Society services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Services, GmbH </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Iot &amp; Big Data Tech S.A. <br/>Provision of telemarketing services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering S.L.<br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Iot &amp; Big Data Tech S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering  S.A. de C.V. <br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telfin Ireland DAC.<br/>Intragroup financing</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Ingenier&#237;a de Seguridad, S.A.U.<br/>Security services and systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TIS Hispanoam&#233;rica, S.L. <br/>Security services and systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital, S.A.U.<br/>Finance company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lotca Servicios Integrales, S.L.<br/>Aircraft ownership and operation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A<br/>Administration of pension funds</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fonditel Gesti&#243;n, Soc. Gestora de Instituciones de Inversi&#243;n Colectiva, S.A.<br/>Administration and representation of collective investment schemes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Investigaci&#243;n y Desarrollo, S.A.U.<br/>Telecommunications research activities and projects</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Luxembourg Holding, S.&#224;.r.L.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Luxembourg</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Nova Casiopea RE S.A.<br/>Reinsurance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Luxembourg</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Luxembourg Holding, S.&#224;.r.L.</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Seguros y Reaseguros Compa&#241;&#237;a Aseguradora, S.A.U.<br/>Realizaci&#243;n de operaciones de seguros directos</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Luxembourg Holding, S.&#224;.r.L. </span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Finanzas, S.A.U.<br/>Integrated cash management, consulting and financial support for Group companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Corredur&#237;a de Seguros y Reaseguros Compa&#241;&#237;a de Mediaci&#243;n, S.A.<br/>Distribution, promotion or preparation of insurance contracts<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Finanzas, S.A.U. (TELFISA) (83.33%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (16.67%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Europe, B.V.<br/>Fund raising in capital markets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Participaciones, S.A.U.<br/>Financial debt instrument issuer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Emisiones, S.A.U.<br/>Financial debt instrument issuer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alian&#231;a Atl&#226;ntica Holding B.V.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (50%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A. (37.4%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servi&#231;os Empresariais do BRASIL, Ltda.<br/>Management and administrative services rendered</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Gesti&#243;n Integral de Edificios y Servicios S.L. <br/>Management and administrative services rendered</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tempotel, Empresa de Trabajo Temporal, S.A.<br/>Temporary employment agency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Worldwide Limited<br/>Wireless telecommunications activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.<br/>Sociedad Holding</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Holding Atticus, B.V.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Soluciones de Criptograf&#237;a, S.A. <br/>Engineering, research and development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Centroam&#233;rica Inversiones ,S.L. <br/>Communications services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L. <br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL. <br/>Ciberseguridad, seguridad de informaci&#243;n electr&#243;nica y consultor&#237;a inform&#225;tica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Chile SpA.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,301&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Inc.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">iHackLabs Ltd.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audertis Audit Services S.L. <br/>Provision of audit services in the areas of security, privacy and data protection</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services S.L. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Colombia SAS<br/>Ciberseguridad, seguridad de informaci&#243;n electr&#243;nica y consultor&#237;a inform&#225;tica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">406&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Cybersecurity Tech Mexico, S.A de C.V.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Ciberseguran&#231;a e Tecnolog&#237;a do Brasil Ltda <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Per&#250; S.A.C <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Cybersecurity Tech Ecuador Tctech S.A. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Otecel, S.A. (99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions Ecuador TGSE, S.A. (1%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Deutschland GmbH <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acens Technologies, S.L.<br/>Holding housing and telecommunications solutions Service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Altostratus Solutions, S.L. <br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Holdings Limited <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited  <br/>Headquarters activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Holdings Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Managed Services Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited <br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Communication &amp; Collaboration Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ireland Limited<br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ocean Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Redspire Limited<br/>Software development and information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Limited <br/>Information technology consultancy activities and other services activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis BG LTD <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bulgaria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BGN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis India Private Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">India</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">INR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited (99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited (1%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kumo Analytics Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Managed Services Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration Holding GmbH<br/>Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Accelera Holding</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement GmbH<br/>Holding company</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Germany GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna AB (Sweden)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sweden</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SEK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Boydak Automation AG<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CHF</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna ApS (Denmark)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Denmark</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DKK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna B.V. (Netherlands)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna ApS (Denmark)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Leipzig)<br/>Software production, electronic data processing, consultancy, services and project management</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Germany GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)<br/>Services in automatic data processing and information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pipol A/S<br/>Conduct business with international implementation of business-oriented software solutions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Denmark</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DKK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;A/S (Norway)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Norway</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">NOK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Business Solutions GmbH<br/>Software development and consulting, distribution of corresponding products, systems and processes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Industry Solutions GmbH<br/>Sales, implementation and maintenance of international ERP products</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;AG (Switzerland)<br/>Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CHF</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic d.o.o<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Belgrade (Serbia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Serbia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RSD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Ljubijana (Slovenia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Zagreb (Croatia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Croatia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HRK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pontel Participaciones, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">260&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pontel Participaciones, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A.<br/>Provision of high bandwidth communications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Rep&#250;blica Dominicana, S.A.S.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Republica Dominicana</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (49.51%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (0.5%)</span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A.<br/>Operation and deployment of telecommunications infraestructure</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (49.98%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (0.03%)</span></div></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Panam&#225;, S.A.<br/>Installation and operation of telecommunications networks for wholesalers</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Panama</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Puerto Rico, Inc.<br/>High capacity optical fibre network communications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Puerto Rico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable USA, Inc.<br/>High bandwidth communications services</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USA</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Ecuador, S.A.<br/>Sale of usage of data transmission capacity via an underwater optical fibre network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Chile, S.A.<br/>Involvement in businesses related to public or private telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Guatemala, S.A.<br/>Installation and operation of telecommunications networks for wholesalers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guatemala</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Per&#250;, S.A.C.<br/>Involvement in the operation and deployment of international telecommunications services via underwater cables and others means</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Colombia, S.A.<br/>Supply of data transmission capacity via underwater cable system</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (47.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Chile, S.A. (0.83%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Per&#250;, S.A.C. (0.84%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Guatemala, S.A. (0.83%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Brasil Participa&#231;oes, Ltda.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Brasil, Ltda.<br/>Operation and deployment of telecommunications infrastructures</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Brasil Participa&#231;oes, Ltda.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Bolivia, S.A.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bolivia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (49.01%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (0.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A. (0.5%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Limited <br/>Integrated provider of fixed and mobile services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica O2 Holdings  Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestrutura e Fibra &#211;tica S.A.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A. (18.7%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra S.L. (25%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37.40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,067&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39.74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Infraco SpA.<br/>Operation of physical fibre optic infrastructure</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,067&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39.74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Do Brasil, Ltda.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (10%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Mexico, S.A. de C.V. SOFOM ENR<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (9.5%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Per&#250;, S.A.C.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (9.5%)</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Colombia, S.A.<br/>Factoring services provider</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,000&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (9.5%)</span></div></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method (cont.)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Chile, SpA. <br/>Factoring services provider</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">547&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mobile Financial Services Holding SPRL<br/>Financial services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Belgium</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Internacional Holding, B.V &#160;(26.28%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Holding Atticus, B.V (23.72%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A.<br/>Specialised credit institution</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Consumer Finance Colombia SAS. <br/>Specialised credit institution</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones S.A. ESP BIC  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ONNET Fibra Colombia S.A.S.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,852&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Smart Steps Data Technology Company<br/>Big data services in China</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">China</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CNY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Iot &amp; Big Data Tech S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Internet para todos S.A.C<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">364&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54.09&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica del Per&#250;, S.A.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Prosegur Alarmas, S.L.<br/>Private security services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prosegur Soluciones S.A.U.<br/>Private security services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Prosegur Alarmas, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Producci&#243;n, S.L. <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Uno, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Dos, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Canarias, S.L.U <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Bizkaia, S.L.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 de Repsol y Movistar S.L. <br/>Development and marketing of photovoltaic self-consumption products and/or services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG TopCo/HoldCo General Partner GmbH. <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra Germany GmbH. (40%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G. (7.06%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG TopCo GmbH &amp; Co KG <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra Germany GmbH. (40%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G. (7.06%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG HoldCo GmbH&amp; Co KG <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG TopCo GmbH &amp; Co KG </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG General Partner GmbH <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG HoldCo GmbH&amp; Co KG </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unsere Gr&#252;ne Glasfaser GmbH &amp; Co KG <br/>Broadband telecommunications operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG HoldCo GmbH&amp; Co KG </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco S.L.<br/>Securities transactions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L.  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Digital Data Centre BidCo, S.L.U.<br/>Management and administration of equity securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Renting, S.A.<br/>Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Holdco Limited<br/>Holding company</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra, S.L.</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Holdco Limited</span></td></tr></table><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Main changes in the scope of consolidation for the year 2022</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Acquisition of new companies</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of inclusion</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">02/28/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.<br/>Wireline telephony operator </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vivo ventures fundo de investimento em participacoes multiestrategia.<br/>Fondos de inversi&#243;n</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vita IT Com&#233;rcio e Servi&#231;os de Solu&#231;&#245;es em TI Ltda.<br/>Technical support, maintenance and other IT services</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering S.L.<br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering  S.A. de C.V. <br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Redspire Limited<br/>Software development and information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Limited <br/>Information technology consultancy activities and other services activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis BG LTD <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bulgaria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis India Private Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">India</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kumo Analytics Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Managed Services Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration Holding GmbH<br/>Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Germany GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna AB (Sweden)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sweden</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Boydak Automation AG<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna ApS (Denmark)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Denmark</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna B.V. (Netherlands)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Leipzig)<br/>Software production, electronic data processing, consultancy, services and project management</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of inclusion</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)<br/>Services in automatic data processing and information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pipol A/S<br/>Conduct business with international implementation of business-oriented software solutions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dinamarca</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;A/S (Norway)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Norway</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Business Solutions GmbH<br/>Software development and consulting, distribution of corresponding products, systems and processes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Industry Solutions GmbH<br/>Sales, implementation and maintenance of international ERP products</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;AG (Switzerland)<br/>Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic d.o.o<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Belgrade (Serbia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Serbia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Ljubijana (Slovenia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Zagreb (Croatia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Croatia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ONNET Fibra Colombia S.A.S.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Holdco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liberty Global Investment Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Incorporation of companies&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.415%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.628%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of incorporation</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 Soluciones de Instalacion y Mantenimiento S.L. <br/>Marketing and management in the installation, sale and maintenance of photovoltaic equipment</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TIS Hispanoam&#233;rica, S.L. <br/>Security services and systems</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Canarias, S.L.U <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/01/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Bizkaia, S.L.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 de Repsol y Movistar S.L. <br/>Development and marketing of photovoltaic self-consumption products and/or services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Renting, S.A.<br/>Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Merged companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Surviving company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Compa&#241;&#237;a Independiente de Televisi&#243;n, S.L. <br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U.</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Divestment companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"/><td style="width:58.136%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.129%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.220%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.115%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Sold</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.U.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador, S.A. de C.V.<br/>Provision of wireless and international long distance communications services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">El Salvador</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59.58&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liquidated companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"/><td style="width:58.136%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.129%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.220%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.115%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Shareholding</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity Tech Argentina S.A. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sao Paulo Telecomunica&#231;oes Participa&#231;oes Ltda<br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Main changes in the scope of consolidation for the year 2021</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Acquisition of new companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of inclusion</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Altostratus Solutions, S.L. <br/>Provision of IT services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Deutschland GmbH <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Holdings Limited <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited  <br/>Headquarters activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Managed Services Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited <br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Communication &amp; Collaboration Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cancom Ireland Limited <br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ocean Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prosegur Soluciones S.A.U.<br/>Private security services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco S.L.<br/>Securities transactions</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/31/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.94&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Incorporation of companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.415%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.628%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of incorporation</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions Germany GmbH. <br/>International service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Consumer Finance Colombia SAS. <br/>Specialised credit institution</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Uno, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Dos, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestrutura e Fibra &#211;tica S.A.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Limited <br/>Integrated provider of fixed and mobile services</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Merged companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Surviving company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services Per&#250; S.A.C. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Per&#250; S.A.C </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cyberrange S.L. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ace &amp; Niu Consulting S.L.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services S.L. </span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Innovaci&#243;n Alpha, S.L. <br/>Electronic communications and  audiovisual services provider</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2021</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Divestment companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:55.625%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.443%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Sold</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inmosites, S.A.U.<br/>Purchase and leasing of real estate related to the telecommunications infrastructure business</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Latam, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Espa&#241;a, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Towers Germany, Gmbh.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Per&#250; S.A.C.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Chile Holding, S.A.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Chile, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Brasil, Ltda.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inmosites Brasil Participa&#231;oes Imobiliarias Ltda <br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Costa Rica TC, S.A.<br/>Wireless communications</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costa Rica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Holdings Ltd<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom Ltd.<br/>Wireless communications</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Giffgaff Ltd<br/>Wireless communications services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Networks Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cornerstone Telecomunications <br/>Network sharing</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tesco Mobile Ltd.<br/>Wireless telephony services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity Tech UK Limited  <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the basis used for consolidation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Consolidations [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788453312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix II: Board and Senior Management Compensation<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCompensationAbstract', window );"><strong>Disclosure Of Compensation [Abstract]</strong></a></td>
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<td class="text"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:400;line-height:120%">Appendix II: Board and Senior Management Compensation</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TELEF&#211;NICA, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros)</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:25.508%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.765%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.260%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">5</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other items</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">6</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total<br/>&#160;</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,923,100&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,198,897&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,085&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,128,082&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">280,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">337,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,600,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,911,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,514&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,535,714&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter Erskine</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Carmen Garc&#237;a de Andr&#233;s</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233; </span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">277,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162,400&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez</span></td><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,000&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">160,400&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Salary: Regarding Mr Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez and Mr &#193;ngel Vil&#225; Boix, the amount includes the non-variable remuneration earned from their executive functions.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, whether or not it can be consolidated over time, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Short-term variable 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 2022 and to be paid in the year 2023. In reference to the bonus corresponding to 2021, which was paid in 2022, Executive Board Member Mr Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez received 3,807,738 euros and Executive Board Member Mr &#193;ngel Vil&#225; Boix received 2,640,000 euros. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Commission and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. </span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">6</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telef&#243;nica, S.A.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table breaks down the amounts accrued and/or received from other companies of the Telef&#243;nica Group other than Telef&#243;nica, 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: </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OTHER COMPANIES OF THE TELEF&#211;NICA GROUP</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"/><td style="width:27.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.290%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.100%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.608%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.379%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.497%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.803%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">5</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other items</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">6</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">177,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter Erskine</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="border-top:0.5pt solid #929292;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms Carmen Garc&#237;a de Andr&#233;s</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233;</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170,727&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325,727&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez</span></td><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127,957&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127,957&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telef&#243;nica Group for his/her executive functions.  </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 Telef&#243;nica Group. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 2022 and to be paid in the year 2023 by other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Remuneration for belonging to the Board Committees of other companies of the Telef&#243;nica 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 Telef&#243;nica Group, regardless of the effective attendance of the board member such Committee meetings.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline">6.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"> 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 Telef&#243;nica Group. Also included are the amounts received for membership of the Advisory Boards of Telef&#243;nica Espa&#241;a, Telef&#243;nica Hispanoam&#233;rica, Telef&#243;nica Tech and Telef&#243;nica Ingenier&#237;a de Seguridad. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Additionally, as mentioned in the Remuneration Policy section, the Executive Board Members have a series of Assistance Services. Below, the contributions made during 2022 are detailed for the Company to long-term savings systems (Pension Plans and Social Welfare Plan): </span></div><div style="margin-bottom:9pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LONG-TERM SAVINGS SYSTEMS </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros)</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:54.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:43.264%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contributions for fiscal year 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">673,085&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">560,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:38.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.298%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.350%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.082%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contribution to Pension Plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contribution to Executive Social Welfare Plan</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contributions to Unit link-type Insurance/Pension Plan Surplus</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">2</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,574</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">540,968</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">124,543</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,721</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">487,840</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,439</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 Telef&#243;nica Group. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Contributions to Unit link-type Insurance/Pension Plan Surplus: In 2015 and 2021, 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.  </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">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 &#8220;Pension Plan&#8221; and the same exceptional liquidity events in case of serious illness or long-term unemployment. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2022 amounts for life insurance premiums were as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LIFE INSURANCE PREMIUMS </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:54.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:43.264%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Life insurance premiums</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74,699&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,820&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">REMUNERATION PLANS BASED ON SHARES</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As regards to remuneration plans based on shares (involving Executive Directors), the following long-term variable remuneration plans were in existence during the year 2022:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The so-called </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Performance Share Plan ("PSP"), made up of three cycles (2018-2021; 2019-2022; 2020-2023), </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">approved by the General Shareholders' Meeting held on June 8, 2018. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The maximum number of Telef&#243;nica shares to be delivered depends (i) 50% of the compliance with the targets set out for Total Shareholder Return ("TSR") on Telef&#243;nica, S.A. shares with respect to the TSRs of a comparison group of companies in the telecommunications sector weighted according to their relevance to Telef&#243;nica, and (ii) 50%, of the Free Cash Flow (the "FCF") of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The target measurement period for the First Cycle started on January 1, 2018 and ended on December 31, 2020, resulting in a weighted payout ratio of 50%. Notwithstanding the foregoing, the Executive Chairman stated to the Nominating, Compensation and Corporate Governance Committee, at its meeting of February 23, 2021, that he considered it appropriate to propose his waiver of the incentive, as a gesture of responsibility towards the company, customers, shareholders and employees of Telef&#243;nica, as well as a measure of prudence following the economic effects derived from COVID-19. The CEO expressed the same view. The resignation was accepted by the Board of Directors. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The target measurement period for the Second Cycle started on January 1, 2019 and ended on December 31, 2021, resulting in a weighted payout ratio of 50%. The evaluation of the degree of compliance was carried out on the basis of the evolution of the share price, as well as the audited results of the Company. Thus, at the end of the Plan's Second Cycle, Executive Directors received 234,000 gross shares in the case of the Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, and 173,500 gross shares in the case of the Chief Operating Officer (C.O.O.) Mr. &#193;ngel Vil&#225; Boix.  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target measurement period of the Third and last Cycle started on January 1, 2020 and ended on December 31, 2022.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">This Cycle had a maximum of 465,000  shares allocated on January 1, 2020, to the executive Directors, with a unit fair value of 3.2136 euros per share for FCF ("Free Cash Flow") and 1.6444 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 Total Shareholder Return for Telef&#243;nica, 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">With respect to Free Cash Flow objective, considering the partial fulfillment of 2020, 2021 and 2022, 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Thus, at the end of the Plan's Third and last Cycle, Executive Directors are entitled to receive 133,500 gross shares in the case of the Executive Chairman, Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez, and 99,000 gross shares in the case of the Chief Operating Officer (C.O.O.) Mr &#193;ngel Vil&#225; Boix. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the denominated </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Performance Share Plan (PSP), consisting of three cycles (2021-2024; 2022- 2025; 2023-2026),</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> approved by the Ordinary General Meeting of Shareholders held on April 23, 2021, was also in force during the financial year 2022.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were two Cycles of the Plan in force during the 2022 financial year. The First Cycle, which started on January 1, 2021 and will end on December 31, 2023. If targets are met, the shares will be delivered in 2024. And the Second Cycle, which started on January 1, 2022 and will end on December 31, 2024. If targets are met, the shares will be delivered in 2025.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In both Cycles, the number of Telef&#243;nica, S.A. shares that, within the established maximum, could be delivered, as the case may be, to the Participants, is conditioned and is determined based on the compliance of the established targets: 50% of the compliance of the Total Shareholder Return objective (the TSR) of the Telef&#243;nica, S.A. share, 40% of the generation of Free Cash Flow of the Telef&#243;nica Group (the FCF), and 10% of the Neutralization of CO2 Emissions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">To determine compliance with the TSR target and calculate the specific number of shares to be delivered for this concept, the performance of the TSR on Telef&#243;nica, S.A.'s shares will be measured during the measurement period of each three-year cycle, in relation to the TSRs experienced by certain companies in the telecommunications sector, weighted according to their relevance to Telef&#243;nica, S.A., which for purposes of the Plan will constitute a comparison group (hereinafter the "Comparison Group"). The companies included in the Comparison Group are listed below: Am&#233;rica M&#243;vil, BT Group, Deutsche Telekom, Orange, Telecom Italia, Vodafone Group, Proximus, Koninklijke KPN, Millicom, Swisscom, Telenor, TeliaSonera, TIM Brasil, and Liberty Global.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to complying with the TSR objective, the Plan will foresee that the number of shares to be delivered associated with meeting this objective will range from 15% of the number of theoretical shares assigned, assuming that the TSR performance of Telef&#243;nica, S.A. shares is at least the median of the comparison group, to 50% if the performance is in the third quartile or above in the Comparison Group, with the percentage calculated by linear interpolation for cases falling between the median and third quartile.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to determine the compliance with the FCF objective and calculate the specific number of shares to be delivered for this concept, the FCF level generated by the Telef&#243;nica Group during each year will be measured and compared to the value set in the budgets approved by the Board of Directors for each financial year.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the FCF, for each of the two cycles in force during the fiscal year 2022, the Board of Directors, at the proposal of the Appointments, Remunerations and Corporate Governance Committee, determined a scale of achievement that includes a minimum threshold of 90% compliance, below which no incentive is paid and compliance with which will entail the delivery of 20% of the theoretical shares assigned, and a maximum level of 100% compliance, which will entail the delivery of 40% of the theoretical shares assigned.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To determine compliance with the CO2 Emissions Neutralization target and calculate the specific number of shares to be delivered for this item, the level of CO2 emissions neutralization achieved at the end of the cycle will be measured, with the incentive being paid upon reaching a certain level of scope 1 + 2 emissions reduction. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The level of direct and indirect CO2 emissions from our daily activity shall be calculated according to the following:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CO2 Emission = Activity x Emission Factor, where:</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">-  Activity: Amount of energy, fuel, gas, etc. consumed by the Company.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">-  Emission Factor: Amount of CO2 emitted to the atmosphere by the consumption of each unit of activity.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The emission factor provided by official sources (European Union, Ministries, CNMC, etc.) is used for electricity and the GHG Protocol emission factors are used for fuels.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the beginning of both cycles, the Board of Directors, at the proposal of the Appointments, Remunerations and Corporate Governance Committee, determined a scale of achievement that includes a minimum threshold of 90% compliance, below which no incentive is paid and compliance with which will entail the delivery of 5% of the theoretical shares assigned, and a maximum level of 100% compliance, which will entail the delivery of 10% of the theoretical shares assigned. In addition, a minimum level of emission reductions of Scope 1 + 2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> will need to be achieved for the incentive to be paid.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In any case, 100% of the shares delivered under the Plan to the Executive Directors and other Participants as determined by the Board of Directors shall be subject to a two-year holding period.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, in accordance with the provisions of the Remuneration Policy for Directors of Telef&#243;nica, SA, the Executive Directors must maintain (directly or indirectly) a number of shares (including those delivered as remuneration) equivalent to two years of their Gross Fixed Remuneration, as long as they continue to belong to the Board of Directors and perform executive functions. Until such time as this requirement is met, the holding period for any shares delivered under the Plan to Executive Directors will be three years.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The maximum number of allocated shares to be delivered in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the First and Second Cycle of the Plan is shown below.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PSP - First Cycle / 2021-2024 </span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"><tr><td style="width:1.0%"/><td style="width:52.045%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:45.755%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum number of shares </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,094,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">819,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(*)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions  target. </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In any case, it is noted that no shares have been delivered to Executive Directors under the first cycle of the PSP and that the above table only reflects the number of potentially deliverable shares, without in any way implying that all or part of the shares will actually be delivered.</span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">PSP - Second Cycle / 2022-2025 </span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"><tr><td style="width:1.0%"/><td style="width:52.045%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:45.755%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum number of shares </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">995,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">745,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(*)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions target.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">  </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In any case, it is noted that no shares have been delivered to Executive Directors under the second cycle of the PSP and that the above table only reflects the number of potentially deliverable shares, without in any way implying that all or part of the shares will actually be delivered.</span></div><div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, Telef&#243;nica, S.A. General Meeting of Shareholders held on April 8, 2022, approved a new Global Telef&#243;nica, S.A. Incentive Share Purchase Plan for Telef&#243;nica Group Employees, in which the Executive Directors participate as a token of their commitment to the Company and in order to encourage other employees to participate in the Global Plan. The Plan will end in March 2024, and the maximum amount that each employee can allocate to it is 1,800 euros.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, it should be noted that the external directors of the company do not perceive nor have perceived remuneration during the year 2022 in concept of pensions or life insurance, nor do they participate in compensation plans referenced to the value of the share price.   </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, the company does not grant nor has granted during the year 2022, 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 Telef&#243;nica as a listed company in this market.   </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Remuneration of the Company&#8217;s Senior Management </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As for the Directors who made up the Senior Management</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of the company in the year 2022, excluding those who form an integral part of the Board of Directors, have accrued a total amount o</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">f 9,381,900</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> euros during the 2022 fiscal year. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, and in terms of long-term savings systems, the contributions made by the Telef&#243;nica Group during the year 2022 to the Social Security Plan described in the "Income and expenditure" note with regard to these directors increased to 943,754 euros; the contributions corresponding to the Pension Plan increased to 214,600 euros; the contributions to the Seguro Unit link-Excess Pension Fund increased to 112,712 euros.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 185,657 euros. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, regarding share-based remuneration plans, during the year 2022, there were in force the following long-term variable remuneration plans:   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The so-called </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%">"Performance Share Plan" ("PSP"), made up of three cycles (2018-2021; 2019-2022; 2020-2023)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">, approved by the General Shareholders' Meeting held on June 8, 2018. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The target measurement period of the First Cycle started on January 1, 2018 and ended on December 31, 2020, resulting in a weighted payment coefficient of 50%.Consequently, the number of shares corresponding to the First Cycle (2018-2021) of the Performance Share Plan that were delivered in the 2021 financial year to the Company's Senior Executives amounted to 220,085 gross shares. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The target measurement period of the Second Cycle started on January 1, 2019 and ended on December 31, 2021, resulting in a weighted payment coefficient of 50%. Consequently, the number of shares corresponding to the Second Cycle (2019-2022) of the Performance Share Plan that were delivered in the 2022 financial year to the Company's Senior Executives amounted to 256,246 gross shares.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The target measurement period of the Third and last Cycle started on January 1, 2020 and ended on December 31, 2022. This cycle had a maximum of 316,762 shares allocated on January 1, 2020 to the group of directors forming part of the Company's Senior Management, with a unit fair value of 3.2136 euros per share for FCF and 1.6444 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 Telef&#243;nica, 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. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">With respect to Free Cash Flow objective, considering the partial fulfillment of 2020, 2021 and 2022, 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.  </span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Thus, at the end of the Third Cycle (2020-2023) of the Performance Share Plan, the Company's Senior Executives are entitled to receive 158,381 gross shares.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On the other hand, the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Performance Share Plan (PSP), consisting of three cycles (2021-2024; 2022-2025; 2023- 2026),</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> approved by the Ordinary General Meeting of Shareholders held on April 23, 2021, was also in force during the financial year 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target measurement period of the First Cycle started on January 1, 2021 and will end on December 31, 2023. The maximum number of shares allocated to be delivered in 2023 in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the First Cycle (2021-2024) for all the Company's Senior Executives was 1,333,081.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target measurement period of the Second Cycle started on January 1, 2022 and will end on December 31, 2024. The maximum number of shares allocated to be delivered in 2025 in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the Second Cycle (2022-2025) for all the Company's Senior Executives was 1,241,015.</span></div>On the other hand, Telef&#243;nica, S.A. General Meeting of Shareholders held on April 8, 2022, approved a new Global Telef&#243;nica, S.A. Incentive Share Purchase Plan for Telef&#243;nica Group Employees, in which the Senior Management participate as a token of their commitment to the Company and in order to encourage other employees to participate in the Plan. The Plan will end in March 2024, and the maximum amount that each employee can allocate to it is 1,800 euros.1For these purposes, Senior Management is understood to be those persons who perform, de jure or de facto, senior management functions reporting directly to the Board of Directors or Executive Committees or Managing Directors of the Company, including, in all cases, the person responsible for Internal Audit.<span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799618864">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix III: Debentures and Bonds<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDebtSecuritiesExplanatory', window );">Appendix III: Debentures and Bonds</a></td>
<td class="text"><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix III: Debentures and bonds</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail and key features of outstanding debentures and bonds at December 31, 2022 are as follows (in millions of euros):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:30.249%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.994%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">T. EUROPE BV SEP_00 BOND GLOBAL D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TEBV FEB_03 EMTN FIXED TRANCHE B</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Europe, B.V.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2013</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.987&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2019 (1)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.069&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.528&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.495&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN O2 GBP </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.103&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY  2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.715&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.788&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN GBP 10/08/2029 400 GBP</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.445&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:34.894%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.349%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies (cont.)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2014</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.932&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.664&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2022 (2)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.930&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.807&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JUNE 06 TRANCHE D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.045&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.665&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.957&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.895&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES DECEMBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,399</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,193</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Telef&#243;nica, S.A. and its instrumental companies</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,047</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,841</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr style="height:21pt"><td colspan="30" style="border-top:2pt solid #969696;padding:0 1pt"/></tr></table><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:30.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.450%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.928%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.755%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.283%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Foreign operators</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="18" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond F</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond O</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond Q</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond 144 A</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">468</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">759</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie A)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.6250%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 2.8750%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (37th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1250%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie C)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1875%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (17th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.0938%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.656&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.188&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (15th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.469&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (16th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Private Program (1st Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Program International Issue (1sr Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica del&#160;Per&#250;, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">62</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">164</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">679</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.12%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.35%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BOND R144-A</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.950&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond A5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.650&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond C10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">IPC + 3.39%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A, ESP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">499</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">567</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">O2 Telef&#243;nica Deutschland Finanzierungs, GmbH</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds Foreign operators</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">200</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">258</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">523</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,032</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,178</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and green bonds (See Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29.d)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main debentures and bonds issued by the Group in 2022 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.440%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nominal (millions)</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Item</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency of issuance</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Coupon</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/05/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/13/2040</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2022</span></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2031</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2027</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,000&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.35% CDI</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2025</span></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.12% CDI</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29. d)</span></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix V: Interest-bearing debt</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:30.131%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.389%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.017%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.660%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding principal balance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Descriptive name summary</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current limit (millions)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">02/22/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/01/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated (1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">258&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2016</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/18/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/18/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/14/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A. E.S.P.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan (2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/06/2021</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/19/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/17/2020</span></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/29/2023</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.  </span></div>(*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount.<span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of debt instruments. [Refer: Debt instruments issued; Debt instruments held]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ifrs-full_DisclosureOfDebtSecuritiesExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AppendixIIIDebenturesandBondsAbstract">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Appendix III: Debentures and Bonds [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799602864">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix IV: Financial Instruments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppendixIVFinancialInstrumentsAbstract', window );"><strong>Appendix IV: Financial Instruments [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory', window );">Appendix IV: Financial Instruments</a></td>
<td class="text">Breakdown of financial assets<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2022 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:14.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.351%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.844%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.503%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">323</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,404</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">464</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">465&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">390&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">896&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,404&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">727&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">405</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">466</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">181</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,513</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15,325</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,439&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,231&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,340&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">728</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,183</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">645</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">18,002</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:5pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of the fair values of the Telef&#243;nica 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. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2021 was as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.257%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.358%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">506</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,301</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,148</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,534</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">452&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">372&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">882&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">471&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,301&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">483&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">640&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">218</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">956</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">908</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">160</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,923</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,235</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">917&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">918&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,516&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,434&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6,903&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d6d6d6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">908&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">160&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,005&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,670&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">724</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,225</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">540</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">5,071</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,769</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix IV: Financial instruments</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the net financial debt arranged by the Group (notional amount) by currency and interest rates at December 31, 2022 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.338%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euro</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8,499)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,066</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,500</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,707</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,344</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,461</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,715</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,933&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,770&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">206&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,095&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,955&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,079&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,129&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,208&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.04&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.05&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,432)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,028&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,937&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,814&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,183&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,382&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,875)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,507&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other european currencies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CZK</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in GBP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">598</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">922</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(325)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">597</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">610&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(324)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CHF</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">America</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(982)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">49</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,878)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(937)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,038</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13,937)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(899)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,874)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">329&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.47&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(975)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,071)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,709&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13,783)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,074)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in UYU</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">97</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">119</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:15.737%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.513%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.367%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.927%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.002%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.513%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.270%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.002%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.958%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in ARS</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(222)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(226)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(232)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(232)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(222)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(232)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(232)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61.15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,125</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">796</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">367</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,412</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">868</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,478</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(220)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">796&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,067&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,098&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,339&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,380&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CLP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">428</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">184</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,287</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(234)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,523</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,289</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">441&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">476&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">455&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">846&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,047&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">834&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.04&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in UFC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in PEN</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">294</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">820</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">474</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">349</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">823</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">804&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">458&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">349&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">807&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.08&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in VAC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.05&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in COP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">459</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">806</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">339</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">483</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">822</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(248)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">335&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">467&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">543&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">545&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.09&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.72&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in VEB</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.951%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.541%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.902%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.008%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.712%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.051%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.584%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.456%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.677%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in MXN</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(246)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">87</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(240)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">227</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(246)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(255)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">227&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.88&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25,994</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,699</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,012)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,687</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,989</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,784</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,553</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,337</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed rate</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,915</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13,565)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Includes all net financial debt adjustments</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below 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, 2022:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non trading accountant purposes</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">482</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">595</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,974)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,778)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,195)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,215)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(325)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,632)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,119)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,894)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,974&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,632&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(113)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(715)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(470)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(477)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,187)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,144)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,148)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">715&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">470&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">477&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,144&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,035&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.75&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">USD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(319)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(478)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(161)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(703)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(862)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(869)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">862&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">849&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.24&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.52&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.66&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,292)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,500)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(125)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,925)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,650)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,476)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,925&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,650&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,651&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,467)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(354)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,604)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,608)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,566)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,291)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.02&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,604&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,608&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,566&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,824&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.88&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">USD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">756</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">756</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(822)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(83)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(423)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,757)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,590)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,532)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,207)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,396)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">822&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">423&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,757&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,590&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,207&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.03&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.78&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.92&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GBP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(434)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">450&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CLP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">COP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(116)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(467)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(497)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(507)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">467&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">391&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.19&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.09&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.48&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#ffffff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> rte options, by maturity, are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.599%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:17.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.640%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.684%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.836%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency swaps</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(282)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(282)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(335)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(460)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(795)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(734)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,536&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,542&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,078&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(673)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(80)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,352)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,966)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,907)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,024)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,015&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">JPY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">JPY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">517&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,883&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,934&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,659&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,373&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,665)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(468)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,529)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,662)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">483</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">665</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (0.83), EUR/USD (1.13) and USD/COP (3,742.44).</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:17.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.640%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.684%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.836%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="6" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Forwards</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">213&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">213&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,587)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,587)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(740)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(768)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,583&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,583&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(796)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(796)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(236)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,962&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,165)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,165)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (0.87), EUR/USD (1.03), USD/COP (4,660.76) and EUR/BRL (5.58).</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Section Scope<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IFRS07_g3-5A__IFRS07_g3-5A_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Appendix IV: Financial Instruments [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799618864">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix V: Interest-Bearing Debt<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppendixVInterestBearingDebtAbstract', window );"><strong>Appendix V: Interest-Bearing Debt [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDebtSecuritiesExplanatory', window );">Appendix V: Interest-Bearing Debt</a></td>
<td class="text"><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix III: Debentures and bonds</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail and key features of outstanding debentures and bonds at December 31, 2022 are as follows (in millions of euros):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:30.249%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.994%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">T. EUROPE BV SEP_00 BOND GLOBAL D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TEBV FEB_03 EMTN FIXED TRANCHE B</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Europe, B.V.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2013</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.987&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2019 (1)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.069&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.528&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.495&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN O2 GBP </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.103&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY  2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.715&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.788&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN GBP 10/08/2029 400 GBP</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.445&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:34.894%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.349%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies (cont.)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2014</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.932&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.664&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2022 (2)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.930&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.807&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JUNE 06 TRANCHE D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.045&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.665&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.957&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.895&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES DECEMBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,399</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,193</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Telef&#243;nica, S.A. and its instrumental companies</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,047</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,841</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr style="height:21pt"><td colspan="30" style="border-top:2pt solid #969696;padding:0 1pt"/></tr></table><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:30.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.450%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.928%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.755%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.283%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Foreign operators</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="18" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond F</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond O</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond Q</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond 144 A</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">468</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">759</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie A)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.6250%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 2.8750%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (37th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1250%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie C)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1875%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (17th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.0938%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.656&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.188&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (15th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.469&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (16th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Private Program (1st Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Program International Issue (1sr Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica del&#160;Per&#250;, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">62</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">164</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">679</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.12%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.35%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BOND R144-A</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.950&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond A5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.650&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond C10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">IPC + 3.39%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A, ESP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">499</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">567</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">O2 Telef&#243;nica Deutschland Finanzierungs, GmbH</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds Foreign operators</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">200</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">258</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">523</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,032</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,178</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and green bonds (See Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29.d)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main debentures and bonds issued by the Group in 2022 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.440%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nominal (millions)</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Item</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency of issuance</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Coupon</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/05/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/13/2040</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2022</span></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2031</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2027</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,000&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.35% CDI</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2025</span></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.12% CDI</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29. d)</span></div><div style="margin-top:9pt;text-align:center"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix V: Interest-bearing debt</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:30.131%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.389%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.017%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.660%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding principal balance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Descriptive name summary</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current limit (millions)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">02/22/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/01/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated (1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">258&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2016</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/18/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/18/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/14/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A. E.S.P.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan (2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/06/2021</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/19/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/17/2020</span></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/29/2023</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.  </span></div>(*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794164880">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsExplanatory', window );">Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group</a></td>
<td class="text"><div style="margin-top:9pt"><span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%">Appendix VI: Key regulatory issues and concessions and licenses held by the Telef&#243;nica Group </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulations </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a digital telecommunications operator, the Telef&#243;nica 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&#8217;s business areas. The extent to which telecommunications regulations apply to the Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to provide services and operate its networks and to use spectrum, the Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Electronic Communication Regulation in the European Union </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 it into their national legislation.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 at least 20 years.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Due to a delay in the transposition of the EECC, the European Commission announced the second stage of infringements proceedings, in the form of a reasoned opinion, against 18 member states, including Spain, on  September 21, 2021. On June 28, 2022, the new General Telecommunications Law  11/2022 was finally published in the BOE by which the EECC is transposed into Spanish law. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Relevant Market Recommendation (RMR) adopted in December 2020, identifies the relevant markets within the electronic communication sector that are susceptible of ex ante regulation by the NRAs. The NRAs should assess the competitive conditions of these markets and where appropriate, designate operators as having significant market power (SMP) and impose obligations. The markets susceptible to ex ante regulation were reduced from 4 to 2: wholesale local access provided at a fixed location market (m1) and wholesale dedicated capacity market (m2). Nevertheless, NRAs are still able to analyze any other market that according to national circumstances might deemed to be uncompetitive. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to the maximum cap at European level for both fixed and mobile termination rates (FTRs/MTRs), since the adoption of a Delegated Act, in April 2021 by the EC, the maximum rates applicable are those included in the correspondent glidepaths and aiming to reach 0.2 euro cents per minute in mobile by 2024 and to 0.07 euro cents per minute in the case of fixed rates.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, 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 (at least 20% of funds devoted to digitalization) initiatives which can receive support to advance connectivity and the digitalization of society.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telecom Single Market   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Roaming</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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 (&#8220;Roaming Like at Home&#8221;). Wholesale maximum rates for voice, data and SMS were also regulated. While current regulation expires on June 30, 2022, on April 13, 2022, the new Regulation on international roaming in the European Union was published in the Official Journal of the EU and being directly binding for Member States as it entered into force on July 1, 2022. From this date the new regulation includes a new glide path for maximum wholesale rates for voice, data and SMS that are not expected to distort the wholesale market. This reviewed regulation also includes new provisions on transparency and Quality of services that might have a moderate impact on implementation costs for roaming providers and network operators.</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt">Net Neutrality</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: 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 devices 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.  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Body of European Regulators for Electronic Communications (BEREC) has updated the Guidelines on the Implementation of the Open Internet Regulation. Reviewed guidelines prohibit non application agnostic price differentiation, resulting in near prohibition of zero rating and sponsored data commercial practices. Telefonica does not expect a commercial impact in current portfolio of services.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, by April 30, 2023, the EC shall submit a report assessing the regulatory implementation of the OIR to the European Parliament and to the Council thereon, accompanied, if necessary, by appropriate proposals with a view to amending this Regulation</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">. </span></div><div style="margin-bottom:11pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Digital Single Market    </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Among the most relevant regulatory initiatives we can find the following:    </span></div><div style="margin-top:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Content Package:   </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">On November 28, 2018, the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">audiovisual Directive (AVMS) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was published in the Official Journal of the European Union. The text came into force on December 19, and had to be transposed into national law in the EU member States by September 19, 2020. In Germany, the transposition of the AVMSD was specified in the Interstate Media Treaty, which entered into force on November 7, 2020. The United Kingdom adopted the AVMS Regulation on September 30, 2020, which was applicable until the formalization of the UK&#8217;s exit from the UE. And in Spain, the Draft General Law on Audiovisual Communication was adopted on November 30, 2021. 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.   </span></div><div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.05pt">The </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Geo-Blocking Regulation </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. This Plan included a proposal for a dialogue between the European Commission and the audiovisual industry to facilitate access to and availability of audiovisual content across EU borders. Three meetings between the Commission and industry took place during 2021 while the last meeting took place in December 2022. Commissioner Breton might ask to engage further with industry to enhance cross-border access to and availability of audiovisual content across the EU.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">European Commission will issue a </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recommendation on combating online piracy of live content in June 2023</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. In January the Commission launched a call for data inviting interested parties to submit comments based on their experience and will organize a workshop on February 28, 2023. Telef&#243;nica submitted comments to the consultation and will participate in the Workshop, insisting on the need for the European Commission to take specific action in relation to online piracy of live content, building on DSA and Copyright Directive as well as on European Parliament&#8217;s Resolution of May 2021 on challenges of sports events organizers in the digital environment.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt">Regulations on the Digital Services and the Digital Markets: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Digital Services Act 2022/2065 of October 19, 2022 and the Digital Markets Act 2022/1925 of September 14, 2022 were adopted and published in the Official Journal of the EU.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation to the new </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Digital Services </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">regulation, obligations will apply throughout the EU to all digital services that connect consumers to goods, services or content, such as:</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Rules on the removal of illegal goods, services or content online.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Safeguards for users whose contents have been removed by error by the platforms.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Obligation for the platforms to adopt measures to avoid the abuse of their systems.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Transparency measures with a wide scope.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">New powers to control the operation of the platforms.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">New rules on the traceability of companies in online markets.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Cooperation process between authorities to ensure compliance and adoption of measures.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With respect to the </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Digital Markets</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> regulation, whose main goal is preventing the so called &#8220;gatekeepers&#8221; from imposing unfair conditions on end users and at ensuring the openness of important digital services, its main provisions are:</span></div><div style="padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.3pt">It will only apply to the main platform providers more prone to incur in unfair practices and ensuring contestability in a set of core platform services.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">It establishes quantitative thresholds for the designation of "gate keepers".</span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">It requires "gate keepers" to take action in a proactive manner.</span></div><div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">The regulation foresees mechanisms for the Commission to designate new "gate-keepers" below the thresholds; to add new services and obligations; and to impose structural or behavioral remedies for systematic non-compliance through a market investigation.</span></div><div style="padding-left:72pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:9.32pt">The EC can impose fines of up to 10% of the company's total worldwide annual turnover or 20% in the event of repeated infringements. </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On  July 5, 2022 the text was finally endorsed by European Parliament and entered into force as of November 1, 2022 (following its publication in the Official Journal on October 12, 2022). After entering application on  May 2, 2023, the designation process might last until September and gatekeepers will have up to six months to comply with the requirements in the DMA, at the latest by March 6, 2024.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Data Protection  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation with Data Protection &amp; 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&#8217;s annual global turnover of the preceding financial year for breaching the new data protection rules. Spain, Germany and the United Kingdom have adopted implementing measures of this Regulation.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s annual global turnover of the </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">preceding financial year for breaching new regulation. The Regulation could be adopted in first half of 2023 under the Swedish Presidency.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, on December 13, 2022 European Commission issued a draft Adequacy Decision on a new EU/US Data Privacy Framework. Since European Court of Justice (ECJ) struck down the Privacy Shield framework in July 2020, EU and US have been working on a new framework for transatlantic data flows, especially after Joe Biden&#8217;s new Administration entered into office. In March 2022, President of the European Commission Ursula von de Leyen and US President Joe Biden announced an </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">agreement in principle</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for a renewed framework for transatlantic data flows &#8220;balancing security and the right to privacy and data protection&#8221;. This political announcement had to be translated into a legal text. For that, on October 7, 2022 President Biden signed an Executive Order addressing the main concerns raised by ECJ in its Judgement on Schrems II Case (namely, new safeguards to limit US LEAs&#8217; and Intelligence Agencies&#8217; powers to access personal data of EU citizens and new redress mechanism for non-US persons whose data has been accessed by US Authorities). Taking into account these concrete changes introduced by the Executive Order, European Commission published the draft Adequacy Decision. Commission expects to have the Adequacy Decision adopted by Summer 2023. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Radio spectrum policy </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 14, 2016, the European institutions reached an agreement on how to coordinate the use of the 700 MHz band facilitating the introduction of 5G as of 2020. Duly justified exceptions on grounds defined in Decision 2017/899/CE were allowed until June 30, 2022. But, the assignment processes were finally completed during 2021, with Telef&#243;nica securing 2x10 MHz in each of our European markets&#8217; footprint (Germany, Spain and UK). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The European Electronic Communications Code grants the Radio Spectrum Committee (RSC) the powers to harmonize the use of spectrum bands for the provision of electronic communications services and lays down the rules governing the process through which Member States authorize those bands to specific users. It also mandates Member States to allow the use of sufficiently large blocks of the 3400-3800 MHz band, and at least 1 GHz in the 24,25-27,5 GHz band, in order to facilitate the roll-out of 5G.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assignment processes have been completed across our European footprint in the 3400-3800 MHz band, with Telef&#243;nica securing at least 70 MHz in each market (see table at the end for details).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the 24,25-27,5 GHz band, it is being assigned in Germany through local licences awarded on a first-come-first-served basis. In Spain, a competitive tender took place in December 2022 and Telef&#243;nica secured a national licence of 1 GHz. In the UK, Ofcom launched a public consultation in Q2 2022 on how to enable new uses, including 5G, in the 26 GHz band.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Once the harmonization and assignment of the priority bands for 5G (700 MHz, 3500 MHz and 26 GHz) has been nearly completed, the European institutions are beginning the process to identify new bands that in a 2025-2030 horizon may be available for the provision of wireless broadband services. Among the most relevant bands for Telef&#243;nica are the 470-694 MHz and the 6425-7125 MHz bands, that will be discussed at the ITU world conference in 2023, and the 3800-4200 MHz band, for which the RSC approved in December 2021 a mandate to the CEPT with a view to its harmonization for local low and mid-power networks. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EU competition law </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">European competition provisions have the force of law in Member States and, therefore, are applicable to our operations in those States. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Treaty on the Functioning of the European Union (TFEU) prohibits &#8220;concerted practices&#8221; 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. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There are similar competition rules in the legislation of each Member State. Those responsible for ensuring compliance are the national competition authorities. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spain  </span></div><div style="margin-bottom:11pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">T</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">he legal framework for the regulation of the telecommunications sector in Spain is governed by the General Telecommunications Law (11/2022) of June 28, transposing the implementation of the "EECC" into national law.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions held by Telef&#243;nica in Spain are listed at the end of this Appendix VI under the title &#8220;Main concessions and licenses held by the Telef&#243;nica Group&#8221;.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Market analysis  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The obligations imposed by the national regulator in the most relevant markets in which Telef&#243;nica is deemed to have Significant Market Power (SMP) are detailed below.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The EU Commission&#8217;s delegated act on termination rates entered into force on July 1, 2021 and the approved charges have been amended accordingly:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fixed markets  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Wholesale fixed access and call origination market  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica has SMP, the CNMC imposed specific obligations to Telef&#243;nica regarding the provision of origination services, preselection and wholesale access service to the telephone line on a cost-oriented bases, and regarding the implementation of an accounting system. Telef&#243;nica was imposed, among others, the obligation of no discrimination, transparency and separation of accounts.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fixed call termination market on individual networks  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica de Espa&#241;a, are dominants in terminating fixed networks and, accordingly are obliged to provide call termination service at cost-orientation and non-discrimination  to the rest of operators, according to a purely incremental costs model.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Relevant developments were 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 from January 1, 2021 are 0.0545 euro cents per minute. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mobile market </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Mobile network call termination </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 2018, the CNMC adopted the final decision where all mobile operators were considered SMP for the call termination in their networks. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As established by the European Commission&#8217;s Delegated Act, from January 1, 2022 to December 31, 2022, tariffs amount to 0.55 euro cents per minute. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale (physical) to network infrastructure access and wholesale broadband access  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 18, 2017, the CNMC adopted a Resolution which approved the reference offer of the new wholesale unbundled virtual access service to Telef&#243;nica's new broadband Ethernet service (local NEBA). NEBA services allow alternative operators more flexibility to structure their retail offers over Telef&#243;nica's fiber network. In March 2018, the CNMC approved the methodology to be used to assess the maximum wholesale access price which Telef&#243;nica could charge to other operators for accessing the optical fiber network in regulated areas (NEBA Local and NEBA services), set at 16.68 euros per month. This price is reviewed once a year in order to assess whether Telef&#243;nica's retail offers (broadband flagship products) are economically replicable with such price.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica&#8217;s flagship products was not replicable with existing wholesale access price, encouraging Telefonica to reduce that price in order to restore the economic replicability of all its retail flagship products. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The resolutions from March 2018, July 2018 and November 2020 have been appealed by Telef&#243;nica de Espa&#241;a.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2018, the CNMC approved the methodology to analyze whether Telef&#243;nica&#8217;s business offers can be replicated by other operators. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 7, 2021, CNMC has completed the the broadband market analysis (1/2020, 3b/2014 markets). The most remarkable aspects stated by CNMC are: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#50535a;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.18pt">To expand the competitive area in new generation networks, from 66 to 696 municipalities, which represent the 70.5% where the Spanish population lives. In these areas the obligation to offer a wholesale broadband access service (NEBA) will not be imposed on Telef&#243;nica&#8217;s fiber network.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">In the remaining municipalities, CNMC requires Telef&#243;nica to provide other operators with a virtual disaggregated access service (local NEBA) and a wholesale broadband access service (NEBA) on its fiber network.</span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt">Throughout the whole territory, CNMC has decided to maintain the obligation by which Telef&#243;nica must provide wholesale access service to its civil infrastructure (ducts, conduits and poles</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Universal service obligations  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 6, 2023, the Minister for Economic Affairs and Digital Transformation issued the Ministerial Order designating Telef&#243;nica de Espa&#241;a, S.A.U. as the operator responsible for the provision of the services included in Article 37.1 of the General Telecommunications Law: adequate broadband internet access service at a fixed location with a minimum download speed of 10 Mbps as well as voice communications services at a fixed location. The territorial scope of the designation is the entire national territory and the designation is made for a period beginning at zero hours on February 10, 2023 and ending at zero hours on January 1, 2025</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spectrum </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 22, 2021, Telef&#243;nica Espa&#241;a acquired a 10 MHz block in the 3.4-3.8 GHz band for 21 million euros. With this spectrum acquisition, Telef&#243;nica completes 100MHz which corresponds to the maximum carrier width in the 5G standard. 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, it is expected that the Ministry of Economic Affairs and Digital Transformation will adopt a resolution for the reorganization of the 3.4-3.8 GHz band, during March 2022. Following this resolution, operators will have 6 months to migrate their frequencies. Regarding the 700 MHz band, Telef&#243;nica Espa&#241;a acquired 2x10 MHz for 310&#160;million euros in the spectrum auction which took place in July 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica 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) until 2030.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica was awarded with 5 blocks of 20 MHz for an amount of 20 million euros in the auction of the 26 GHz band that took place on the December 21, 2022 which is expected to be formalized in the first quarter of 2023.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Contribution to RTVE funding  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2009, the Radio and Television Corporation Finance Law (Ley de Financiaci&#243;n de la Corporaci&#243;n de Radio y Television Espa&#241;ola) 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contributions made to the funding of RTVE were appealed by Telef&#243;nica Espa&#241;a and Telef&#243;nica M&#243;viles Espa&#241;a. 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The draft Audiovisual Communications General Law includes a provision to withdraw the 0,9% of the invoiced operating income contribution to RTVE funding which would entry in force by January 1, 2023. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Acquisition of Distribuidora de Televisi&#243;n Digital, S.A. (DTS)  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Resolution of the CNMC of April 22, 2015 authorized the acquisition of the exclusive control of DTS (Distribuidor Oficial de Televisi&#243;n, S.A.) by Telef&#243;nica 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 Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica could sign is eliminated. In the TV channel commercialization area, the commitment prohibiting Telef&#243;nica 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. Telef&#243;nica has appealed the decision.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Germany  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The European Union legislative framework was implemented in Germany at the end of June 2004, by the approval of Telecommunications Act (Telekommunikationsgesetz). The Telecommunications Act has been repeatedly amended over the last years, most recently through the transposition of the European Code of Electronic Communications (EECC) into German law with effect from 1 December 2021. The national regulatory authority responsible for regulation of electronic communication networks and services is the Bundesnetzagentur, or BNetzA</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions held by Telef&#243;nica in Germany are listed at the end of this Appendix VI under the title &#8220;Main concessions and licenses held by the Telef&#243;nica Group&#8221;. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spectrum </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to provision of the 800 MHz, 1.8 GHz and 2.6 GHz spectrum expiring end of 2025, BNetzA published points of orientation for consultation by March 21, 2022. In conjunction with this, an initial demand survey was conducted to examine signs of a possible spectrum scarcity. The points of orientation essentially spoke only of an extension and/or an auction as the most probable provision mechanisms. The Telef&#243;nica Deutschland Group gave its opinion on the points of orientation by the prescribed deadline. After evaluating the comments submitted, BNetzA published a position paper at the end of September 2022 with an initial opinion on the next steps. BNetzA started from the assumption that there was an obvious spectrum scarcity, based on the results of the initial demand survey. This would be an argument in favor of awarding the spectrum in the form of an auction. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To ease the demand situation in the 800 MHz band, the position paper proposes a frequency swap to the same extent with the 900 MHz band. The result would be that the 800 MHz frequencies would run until the end of 2033 and the 900 MHz frequencies until the end of 2025. The frequencies at 900, 1,800 and 2,600 MHz would be auctioned off. The Telef&#243;nica Deutschland Group commented in due time and advocated again for an extension of the frequencies to be made available through at least 2033. BNetzA intends to make a decision about frequency provision in 2023. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Regarding the coverage requirements resulting from the 2019 frequency auction, the Telef&#243;nica Deutschland Group notified the BNetzA at the beginning of January 2023 that it had fulfilled the obligations due at the end of 2022 to cover households and major routes, and to commission 1,000 5G base stations and base stations in 500 white spots, respectively, in line with the obligations.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the coverage requirements resulting from the 2019 frequency auction, the Telef&#243;nica Deutschland Group, the Deutsche Telekom Group and the Vodafone Group in July 2021 entered into a cooperation for the joint construction of additional radio towers and masts, as well as their technical support and use. The cooperation is designed to meet coverage obligations, especially for transport routes and in rural areas, where frequency holders are allowed to enter into cooperation agreements to fulfil these obligations. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2021, the Telef&#243;nica Deutschland Group concluded an agreement with the Deutsche Telekom Group on active shared network usage at &#8220;grey spots&#8221;, which are areas in which only one mobile network operator offers mobile network access to its customers. A similar agreement with the Vodafone Group has been concluded on 25 January 2022. In both cooperation agreements, live operations were launched in the third quarter of 2022 with reciprocal access to the first mobile network sites. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 21, 2021, the Telef&#243;nica Deutschland Group entered into a National Roaming Agreement (NRA) with the 1&amp;1 Group (formerly: 1&amp;1 Drillisch Group). With this NRA, the Telef&#243;nica Deutschland Group fulfilled one of the EU requirement imposed by the EU Commission arising from the merger of the Telef&#243;nica Deutschland Group and E-Plus in 2014. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Market reviews </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The EU Commission&#8217;s delegated act on termination rates entered into force on July 1, 2021 and the approved charges have been amended accordingly: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Mobile termination rates (MTR) </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A glide path applies for the MTR, according to which a charge of 0.70 euro cents per minute will apply from July 1, 2021, decreasing to 0.55 euro cents per minute from January 1, 2022, to 0.40 euro cents per minute from January 1, 2023 and to 0.20 euro cents per minute from January 1, 2024. These charges will apply to all German providers of these services. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fixed termination rates (FTR) </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FTRs have been subject to a charge of 0.07 euro cents per minute since July 1, 2021. These charges will apply to all German providers of these services. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">BNetzA consultation and market studies on fiber optic infrastructures  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The BNetzA has identified the existence of significant Germany-wide market power of Telekom Deutschland GmbH on wholesale market 3a (= market for wholesale access provided locally at a fixed location) and still deems it to be in need of regulation. This applies to both the copper network of Telekom Deutschland GmbH and the newly constructed fibre-optic network for the implementation of FTTH. On July 21, 2022, after prior notification to the EU Commission, the BNetzA issued the framework conditions under which charges and other access conditions will be controlled by the BNetzA in future. This relates both to access to the local loop in the copper network, the &#8220;last mile&#8221;, and also to virtual unbundled local access (VULA) to the copper and fibre connections of Telekom Deutschland GmbH. In essence, the BNetzA is maintaining its first draft of October 2021.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 26, 2022, the BNetzA published a draft decision for wholesale market 3b (= market for wholesale mass market products provided centrally at a fixed location). The draft also stipulates that the copper and fibre-optic infrastructure of Telekom Deutschland GmbH must be regulated, but that in future regulatory obligations will only apply to municipalities with a population of less than 60,000. The regulatory obligations will be lifted in larger municipalities. Otherwise, the remaining regulatory obligations are closely aligned with the requirements for local access to VULA in accordance with the regulatory order on wholesale market 3a</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The BNetzA is maintaining its flexible approach to access to fibre-optic networks. On the one hand, Telekom Deutschland GmbH will be required to grant wholesale customers equivalent access to the FTTH network. However, price regulation measures will not be evaluated in advance. Instead, they will only be considered if there are indications that the conditions of competition for wholesale customers will be impaired. The BNetzA does not consider this to be the case at present.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">United Kingdom  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General legislative framework  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The EU Regulatory Framework was implemented in the United Kingdom by the Communications Act in 2003. The Office of Communications, or Ofcom, is designated as the NRA responsible for the regulation of electronic communications networks and services. Under the terms of the Withdrawal Agreement, the UK implemented the 2020 Electronic Communications and Wireless Telegraphy Regulation (Amendment) (European Electronic Communications Code and EU Exit) which made amendments to the Communications Act, with effect from December 21, 2020, in order to transpose the EECC into UK law.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions held by Telef&#243;nica in the United Kingdom are listed at the end of this Appendix VI under the title &#8220;Main concessions and licenses held by the Telef&#243;nica Group&#8221;. These licenses are part now of the joint venture with Liberty Global plc (VMED O2 UK Limited) (see Note 2).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale price regulation  </span></div><div style="margin-top:9pt"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Mobile termination rates (MTR)</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following a market review, mobile termination rates for all mobile providers, including the four national mobile communications operators are subject to controls based on the pure long-run incremental cost approach ("pure LRIC"). In its 2021-2026 price control decisions, Ofcom set a charge control, with the prevailing rate as of April 1, 2022 set at 0.391ppm. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">However, termination rates for calls originating outside the UK to be no more than the reciprocal termination rate charged by the relevant international telecoms provider for a call originating in the UK, or the MCT provider&#8217;s domestic rate, whichever is the higher. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">MTR caps will be updated annually on April 1, based on inflation (CPI measured for 12 months at December 31, each year) plus X, with X specified as +2.1% (2023); +2.4% (2024) and +1.5% (2025). </span></div><div style="margin-top:9pt"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fixed termination rates (FTR)  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the same decision, Ofcom decided to rise by 6.1% to 0.0292 ppm from April 2021. Annual indexation to CPI will apply, but with no &#8220;X&#8221; adjustment based on the same time period for CPI. VMO2&#8217;s current FTR is 0.031ppm from April 1, 2022.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Spectrum  </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following an agreement between the Government and industry to provide for a &#8220;Shared Rural Network&#8221;, the mobile operators, including Telefonica United Kingdom, agreed to amend their 900 and 1800 MHz licences to provide for 88% geographic coverage by 2024 and 90% geographic coverage by 2026.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ofcom is currently consulting on a future award of 26GHz and 40GHz mmwave spectrum. This process is currently scheduled to take place in 2024.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Brazil  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General legislative framework </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">T</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">he delivery of telecommunications services in Brazil is subject to regulation under the regulatory framework provided in the General Telecommunications Law enacted in July 1997. The National Agency for Telecommunications (Ag&#234;ncia Nacional de Telecomunica&#231;&#245;es or ANATEL), is the principal regulatory authority for the Brazilian telecommunications sector. On October 4, 2019, Law 13.879/2019 was published, introducing significant changes to the telecommunications framework.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Brazilian competition regulation is based on Law No. 12529 of November 30, 2011. The Administrative Council for Economic Defense, or CADE, is the agency in charge of enforcing the competition rules. The antitrust law establishes a pre-merger notification regime for concentration transactions, with turnover thresholds (one participant with gross revenue of 750 million Brazilian reals in Brazil and other participant with gross revenue of 75 million Brazilian reals in Brazil) and maximum time length for merger review procedure (240 days, extendable to 330 days).On October 18, 2016, CADE issued the Resolution No 17, which changed the rules concerning the </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">mandatory notification of the so called &#8216;associative agreements&#8217;. The new regulation tends to reduce notifications of associative agreements that do not raise antitrust concerns. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions of spectrum held by Telef&#243;nica in Brazil are listed at the end of this Appendix VI.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the state of S&#227;o Paulo, Telef&#243;nica Brasil provides fixed telephony services (STFC) under the so-called public regime, through a concession agreement which is expected to remain in force until December 31, 2025. On October 4, 2019, Law 13.879/2019 (resulting from PLC 79/2016) was published. This Law introduces changes to the telecommunications regulatory framework by allowing fixed-line concessions operators to migrate from a concession regime for limited time (in which the underlying assets reverts to the government at the end of the concession) to an authorization regime. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 5, 2022, and according to the Law, ANATEL presented a methodology with an estimation of the economic value associated with the migration of the concession regime to authorization, to be validated by the Federal Court of Accounts. After the vote of the rapporteur minister supporting the legality of the methodology presented by ANATEL, it is under analysis by another minister, and should resume to the court's agenda in March. After the final decision by the Federal Court of Accounts about de methodology applied, ANATEL will indicate the final amount for  migrating  the concession instrument for authorization. This final amount, after confirmation and acceptance by Telef&#243;nica, will be converted into investment projects not yet defined by ANATEL. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 4, 2021, the Ministry of Telecommunications and ANATEL approved the Resolution No. 744, which adopts the Regulation for the Continuity of the Provision of Fixed Commuted Telephony Service for Use by the General Public ("STFC") under the Public Regime - RCON. This Regulation established that at the end of Telef&#243;nica Brazil&#8217;s STFC concession, the assets belonging to its patrimony (which are used for the provision of multiple services including the STFC under the public regime) will be subject to a contract between the company and the new concessionaire or the Federal Government, to transfer their right of use under fair and reasonable economic conditions.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the assets that are indispensable and exclusively used to ensure the continuity of the provision of STFC under the public regime, will have their possession reverted to the Federal Government through compensation and under the terms of the RCON. It should be noted that these assets constitute residual and decreasing assets of the company's assets</span><span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this way, the Concessionaire's assets, at the end of the concession contract on December 31, 2025, will not be susceptible to the reversal of its ownership to the Union. The assignment of the use of shared assets and the possession of exclusive assets of the STFC is now defined by means of specific contracts already provided for in the operational manual of the RCON, approved by Decision No. 269/2021/COUN/SCO. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the adoption of Resolution No. 744, the obligation to submit a list of reversible assets ("RBR") to ANATEL is merely informative with the objective of maintaining transparency of the assets used by the Concessionaire in the provision of STFC under the public regime.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nevertheless, it is important to emphasize that in the scope of administrative proceeding TC n&#186;. 003.342/2022-0, in progress at the Federal Court of Accounts, a technical report stated that the RCON should be reviewed, such understanding shall still be submitted to the court&#8217;s ruling.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the other Brazilian states, Telef&#244;nica Brasil provides local, international and long-distance STFC, personal mobile service (SMP) and broadband multimedia communication services (which include the provision of fixed broadband connection) and pay TV services, all under the private regime. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 17, 2020, the Decree that regulates Law 13,879/2019 was published. The Decree 10,402/2020 allows the renewal of existing licenses. Previously, only a single license renewal was allowed for the same period. Currently, the successive renewals will be made in a competitive process at market price. The renewal amount can be converted, totally or partially, into investment commitments. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding the extension of the 850 MHz band authorizations, if the legal and regulatory requirements are met, ANATEL agreed to extend the current authorizations for the use of radio frequencies in Bands A and B, proposing their approval, on a primary basis, until November 29, 2028. However, specific conditions for renewal, including those related to the economic valuation criteria and obligations, were challenged by the affected service providers (including Telef&#243;nica). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After ANATEL dismissed the appeals filed by the providers, ANATEL referred the case to the federal court of accounts of Brazil (&#8220;TCU&#8221;), and in September 2022, TCU decided that the possibility of successive extensions brought by Law 13.879/19 should be considered as an exception, applicable only when certain requirements are met (art. 167 of Law 13.879/19 and article 12 of decree 10.402/20). Telef&#243;nica appealed that decision, defending the successive extension of licenses as a rule and not as an exception, in accordance to Law 13.879/19.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on December 8, 2022, ANATEL revoked Telef&#243;nica&#180;s 450 MHz spectrum authorization (451 - 458 MHz and 461 - 468 MHz) covering the states of Alagoas, Cear&#225;, Minas Gerais, Para&#237;ba, Pernambuco Piau&#237;, Rio Grande do Norte, Sergipe and part of S&#227;o Paulo. The decision was motivated by the fact that Telef&#243;nica could not provide evidence of service activation in the 450 MHz band as a result of the unavailability of  450 MHz devices ecosystem and of the waiver clause contained in the tender notice, interpreted by ANATEL as meaning that the waiver would operate automatically in case of non-activation of the frequency within the contractual term. Previously, on September 2022, ANATEL revoked authorizations held by other providers. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2021, ANATEL held the greatest spectrum auction in its history, with 700 MHz, 2.3 GHz, 3.5 GHz and 26 GHz lots. On that occasion, Telef&#243;nica acquired 3.5 GHz and 26 GHz national licenses (100 MHz and 600 MHz bandwidths, respectively). The Company also won regional 2.3 GHz licenses, with 50 MHz bandwidth in Southeast Region (except Sao Paulo state and PGO Sector 3) and 40 MHz bandwidth in Sao Paulo state, North and Midwest Regions (except PGO Sectors 22 and 25). These licenses guarantee the necessary spectrum to provide 5G services and are valid for 20 years, renewable under existing legal conditions at the end of this time.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection, tariffs and prices  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection among public networks is mandatory in Brazil. Generally, parties can freely negotiate the terms and conditions about technical points, economic discounts and rights/obligations, of the interconnection agreements. Interconnection rates for fixed network operators identified as operators with significant market power (SMP) (Resolution No. 588/2012) are defined by ANATEL; the interconnection rates for the use of mobile operators networks (Resolution No. 438/2006), may be agreed between the parties. However, if the parties fail to reach a consensus, particularly regarding charges to fixed operators (Resolution No. 576/2011), ANATEL imposes the rates to be used. The mobile termination market is based on the model of incremental costs and, pursuant to applicable laws, variations in VU-M must be reflected in VC1 (retail price paid by users for local fixed-mobile calls). Regarding VC2 and VC3 (retail price paid by users for national long distance fixed-mobile calls), variations in VU-M no longer need to impact these values, as is still the case of VC1. In March 2020, ANATEL approved Resolution No. 724, which established the Standard for the implementation and monitoring of tariff freedom in the Fixed Telephone Service (STFC) for use by the general public, in the National Long-Distance mode. Since then, the company has been free to determine domestic long-distance fees according to the market. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group, including VIVO, has been identified as an operator with SMP in the following markets: (i) fixed network infrastructure access for data transmission in copper pairs or coaxial cables at speeds up to 12 MBps in the region of S&#227;o Paulo; (ii) wholesale fixed network infrastructure to transport local and long distance transmission at speeds up to 34 MBps in the region of S&#227;o Paulo; (iii) passive ducts and trenches infrastructure throughout Brazil; (iv) call termination on mobile network in Brazil; (v) national roaming market throughout Brazil.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ANATEL's Resolution no. 694/2018 in July 2018 changed the PGMC, which, besides others changes, recognized a new relevant wholesale market of high capacity data transport services with speeds higher than 34 Mbps, in which Telef&#243;nica is established as SMP throughout Brazil.</span><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, operators without SMP are no longer entitled to charge fixed termination fees up to 20% higher than the highest fee adopted by fixed operators with SMP in the same region, since the publication of the Resolution no. 694/2018 in July 2018.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, ANATEL&#8217;s Resolution No. 694 of July 17, 2018, changed article 41 of the Appendix II of the General Plan of Competition Goals (PGMC), and established the Bill and Keep between SMP and the non-SMP operators as 50/50%, from February 24, 2018 for the next 4 years, when this might be revised by ANATEL. Accordingly, the VU-M values (in Brazilian reals) for 2022 applicable to Telef&#243;nica Brazil are the following: (i) Region I: 0,01422; (ii) Region 2: 0,01550; and (iii) Region 3: 0,02947, nevertheless Telef&#243;nica can reach an agreement for higher values. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulation on Universal Service </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Currently, only Fixed Switched Telephony Services are subject to universalization obligations. These obligations are established in the General Plan of Universalization Targets (PGMU) and can be reviewed every five years. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Mexico  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Mexico, the provision of telecommunication services is governed by the Constitution and the Federal Telecommunication and Broadcasting Law (LFTy R), published on July 14, 2014. The Federal Law of Economic Competition published on May 23, 2014, its regulations and the Regulatory Provisions of the Federal Law of Economic Competition for telecommunications and broadcasting published by the Federal Telecommunications Institute on January 12, 2015.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Federal Telecommunications Institute (IFT) is the authority responsible for the regulation, promotion and supervision of the use, development and exploitation of radio spectrum, networks and the provision of broadcasting services and telecommunications, as well as the antitrust authority for broadcasting and telecommunications sectors. Furthermore, on August 26, 2015, a special division on Telecommunications affairs was established by the Consumers Affair Authority to monitor, coordinate, control, substantiate and resolve conciliation, arbitration and infringements, review, modification and grant the use of adhesion contracts in terms of Federal Consumer Act.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The IFT, as the Mexican national authority in communications and broadcasting sectors, declared in 2014 the Am&#233;rica M&#243;vil Group a preponderant operator in the telecommunications market, imposing specific measures with asymmetric obligations to avoid damaging competition and free market participation. Within these measures are the imposition of a regulated framework interconnection agreement and a set of reference offers for: leasing of dedicated links, access and shared use of passive infrastructure in fixed and mobile networks, MVNOs, roaming and local loop unbundling. In this sense, on November 17, 2016, Telef&#243;nica M&#233;xico and Am&#233;rica M&#243;vil Group signed an agreement in order for Am&#233;rica M&#243;vil to provide the wholesale service of national roaming in the areas where Telef&#243;nica M&#233;xico might have an interest. Telef&#243;nica Mexico and Telcel engaged in successive extensions of this agreement and on June 1, 2018 entered into Telcel's current Reference Offer as well as and an amendment agreement whereby the Offer, the original agreement and the Pricing and Tariff Annex were replaced entirety, which is in force due to the successive agreements reached to date.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 16, 2021, the decree that reforms the Federal Telecommunications and Broadcasting Law was published in Diario Oficial de la Federacion creating the National Register of Mobile Telephony Users (PANAUT), which sought to integrate a database with information on the natural person or legal entity who are holders of mobile lines; including biometric data in order to prevent and attack the crime of extortion.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 26, 2022 the Supreme Court of Justice of the Nation declared the total invalidity of the regulatory system that integrates the decree mentioned in the previous paragraph (and therefore the PANAUT), as a result of several unconstitutional actions filed by both the INAI (National Institute of Transparency, Access to Information and Protection of Personal Data) and a group of senators.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pegaso PCS, S.A. de C.V. (Pegaso PCS) has multiple concessions and licenses for installation and operation of a Public Telecommunications Network to provide telecommunications services and use spectrum for the provision of mobile wireless service nationwide.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica M&#233;xico accepted the terms and conditions established by the IFT for the renewal of the 1900 MHz licenses nationwide, which expired in 2018. Notwithstanding the foregoing, on November 21, 2019, Pegaso PCS, S.A. de C.V. notified IFT of the waiver of the totality of its spectrum licenses in four different stages. On December 31, 2020 IFT was informed that the concessions for the 850 and 1900 MHz bands for regions 1, 3 and 4 were returned. Similarly, on December 31, 2021, the IFT was notified the same about the 1900 MHz concessions for regions 5, 6 and 9. Finally on June 30, 2022 the IFT was notified of the return of the remaining spectrum in the 850 and 1900 MHz bands for regions 2, 7 and 8. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tariffs charged to customers are not regulated. They are set by companies and must be registered with the IFT, in order to be enforced. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On November 17, 2020, the IFT published the mobile termination rates (MTRs) applicable to solve any conflicts regarding MTR during 2021, 2022 and 2023. For 2021 MTRs were set, for the Preponderant Economic Agent </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(Radiom&#243;vil Dipsa, S.A. de CV- Telcel-) at 0.018489 pesos per minute, while for the non-preponderant ones they were set at 0.073714 pesos per minute. These rates were calculated using was an LRIC cost model used in the past with new criteria and variables. Since 2018, Telef&#243;nica has been challenging the interconnection rate resolutions issued by the IFT based on the inoperability of the cost model authorized by the IFT; notwithstanding this, to date the established rates have been applied. At the end of 2022, the SCJN has not yet resolved the lawsuits filed by Telef&#243;nica M&#233;xico and other concessionaires during the years 2018 to 2022.   </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Foreign ownership/restrictions on transfer of ownership  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since the amendments to the Constitution published in June 2013 foreign investment (FDI) up to one hundred percent in telecommunications is allowed. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Chile    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The General Telecommunications Law No. 18168 of 1982, as amended, establishes the legal framework for the provision of telecommunications services in Chile. The main regulatory authority in Chile is SUBTEL (the Under-Secretary of Telecommunications). On February 13, 2014, the Regulation on Telecommunications Services was published and came into force on June 14, 2014, regulating a number of new services as Internet, Pay TV, etc.  </span><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2014, law No. 20750 allowing the introduction of Digital Terrestrial Television was published in the Official Journal. It set an extensible deadline of five years for the blackout analog. It also set forth that the concessions of free-to-air broadcasting could be nationwide, regional, local and with European coverage.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The principal regulation concerning competition in Chile is Decree No. 211 of 1973, whose current text was established in Law Decree No. 1 of 2005 (Ministerio of Econom&#237;a, Fomento y Reconstrucci&#243;n). The Competition Court deals with infringements of competition law. Law N&#186;. 20.945 was published on August 30, 2016 increasing the administrative fines up to 30% of the sales relating to the product line or services associated with the infringement during the period in which the alleged infringement took place, or up to the double of the economic profit reached by the infringement.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Other relevant laws that have an impact on the operation are Law No. 20,808, published in the Official Gazette on January 28, 2015, which protects the free choice of users in cable, Internet or telephony services, Law No. 21,046 that establishes the obligation of a guaranteed minimum speed of Internet access, published in the Official Gazette of November 25, 2017 and Law No. 21,245, published in the Official Gazette on July 15, 2020 that establishes the obligation to provide the Automatic National Roaming service in certain areas and Law No. 19.496 concerning consumer data protection.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions to use spectrum are shown in the table at the end of this Annex.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica Chile has been granted licenses of public local phone services, Voice Over Internet Protocol services, concessions of long distance and concessions to install and exploit the national fiber optic network and mobile satellite. 2.6 GHz and 700 MHz concessions established an obligation for Telef&#243;nica M&#243;viles Chile to provide a wholesale service to MVNOs, under a non-discriminatory and complete Reference Offer (including prices). This same obligation extends to the new 5G technology recently deployed in its first phase.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 5, 2019, the TDLC notified resolution 59 through which it modified the 60 MHz spectrum cap, establishing percentage caps by macrobands. Against this resolution, claims were filed by some operators and Conadecus, which were partially accepted by the Supreme Court on July 13, 2020, in the sense of: i) maintaining the percentage caps set by the TDLC, with the exception of the low macroband (up to 1 GHz) which went from 32% to 30%, and ii) establishing certain complementary measures to the Mobile Network Operators such as, national mandatory and temporary roaming; or keeping an offer of facilities and resale plans for MVNOs permanently available and updated, among others.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 16, 2021, the auction for the 3.5GHz band, initiated in 2020, was completed and Telef&#243;nica M&#243;viles Chile has been awarded 50MHz. On October 2, 2021, the decree granting the concession to Telef&#243;nica M&#243;viles Chile in the 3.35-3.40 GHz band was published in the Chilean Official Gazette. From that date, the terms conferred started as follows: (i) 30-year period of the concession and (ii) implementation of the terms for the start of service of the 5G project (12 months for stage 1 and 24 months for stage 2). Telef&#243;nica M&#243;viles Chile completed the deployment of all base stations corresponding to phase 1 of the 5G project</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Public telecommunication services prices and prices for intermediate telecommunication services are freely established by operators, unless there is an express resolution by Chile's Competition Court on existing conditions in the market confirming that there is not enough competition. Additionally, maximum prices for interconnection services (access charges for network use, mainly) are subject to tariff regulation for all operators, being set by stipulated procedures.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Ministries set maximum tariffs under efficient operator model basis.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Maximum interconnection tariffs for telephony services are set every five years jointly by the Ministry of Transport and Telecommunications and the Ministry of Economy. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection is obligatory for all license holders with the same type of public telecommunications services and between telephony public services and intermediate services that provide international long distance services. Every five years, SUBTEL sets the applicable tariffs for services provided through the interconnected networks. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 9, 2019, a new Tariff Decree regarding fixed termination rate was adopted for the 2019-2024 period. The new tariff decree for the period 2019-2024, entered into force retroactively in May 2019 and represents a 65% drop from the previous value to reach a value of 1.3 CLP per minute during normal business hours. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding mobile termination rates, in 2019 a new decree was issued, which will be applicable for the next 5 years, The average tariff which will apply until 2024 was 1.8 CLP per minute (0.0024 euros, without VAT, based on the exchange rate as of February 6, 2019, to be charged on a per second basis). The validity of the new tariff decree starts on January 26, 2019.  In January 2024, the current decree on interconnection tariffs for mobile services will expire, while in May of the same year the current decree on interconnection tariffs for fixed services will expire.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Argentina  </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework  </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The basic legal framework for the provision of telecommunications services in Argentina is set forth in the Law &#8220;Argentina Digital&#8221; No. 27078 issued on January 7, 2015. This legal framework declared of public interest the development and regulation of information technology, communications and its associated resources (ICT's). Thus, this law became the specific regulatory regime for the free market, including rules on interconnection, universal service and radio spectrum, and setting out the principles of network neutrality and giving to the technological, informational and communicational companies the possibility of providing broadcasting services (except satellite infrastructure), and setting a single license system. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the Government approved the Decree No. 267/2015, published in the Official Gazette on January 4, 2016, which amended the Argentina Digital Act creating the National Communication Agency (ENACOM), which is the continuation of the Federal Authority for ICTs (Autoridad Federal de Tecnolog&#237;as de la Informaci&#243;n y las Comunicaciones). </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By the Decree of Need and Urgency No. 690/2020, it was resolved to amend Law 27078, establishing that Information and Communication Technology Services and Access to telecommunications networks for and among licensees are essential and strategic public services. At the same time, it determined that the prices of ICT essential and strategic public services will be regulated by the authority. Finally, it incorporated mobile communication services as public services. In connection with DNU 690/2020, Telef&#243;nica de Argentina, S.A. and Telef&#243;nica M&#243;viles Argentina, S.A. (collectively, &#8220;Telef&#243;nica&#8221;) were forced to file a lawsuit against the Argentine State, in connection with a series of contracts for licenses to provide services and spectrum use authorizations entered into between Telef&#243;nica and the Argentine State, including the licenses resulting from the 2014 spectrum auction. Such contracts and their regulatory framework provided that the services provided by Telef&#243;nica were private and prices would be freely set by Telef&#243;nica. The lawsuit filed was dismissed in September 2021 and Telef&#243;nica appealed this decision. On December 17, 2021, the first instance ruling was overturned and the scope of articles 1, 2, 3, 5 and 6 of DNU 690/2020 and the resolutions of the National Telecommunications Agency that sought to control tariffs (Resolutions 1666/2020 and 204/2021) and provide for a Mandatory Universal Basic Provision (Resolution 1467/2020) were suspended for six months or until a final ruling is issued. During this period, Telef&#243;nica will not be subject to the provisions considered in the DNU 690/2020 in relation to price and public service regulations. On June 10, 2022, the Federal Contentious Administrative Court No. 5 extended by six months the precautionary suspension of the </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">effects of the DNU 690/2020 in favor of Telef&#243;nica. On December 27, 2022, the Federal Contentious Administrative Court No. 5 extended for an additional six months the precautionary suspension of the effects of the DNU 690/2020 in  favor of Telef&#243;nica. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Furthermore, &#8220;Law on Defense of Competition&#8221; No. 27442 prohibits any acts or behaviors contrary to such law and establishes an authority of competition that is pending to be constituted In the meantime, the Secretary of Commerce continues to act, assisted by the National Commission for the Defense of Competition created by Law No. 22262. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions to use spectrum are shown in the table at the end of this Annex. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, Telef&#243;nica de Argentina has licenses for an indefinite period of time for the provision of communications services; local telephone services; long-distance national and international, telex, international communication and data transfer services; national and international value-added services, and other telecommunication services provided by the different license agreements entered into with the National State, and administrative acts entered into with the National State. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </span></div><div style="margin-bottom:9pt;margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Roaming</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">By means of Law 27.497 (BO 10/01/2019) the Economic Complementation Agreement No.35 between the States part of Mercosur and the Republic of Chile was approved, which includes the Commercial Agreement between the Republic of Chile and the Republic of Argentina by which these countries are obligated to implement the international roaming services in the territory of the other party with the same tariffs or prices they charge for the mobile services in their own country. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, by means of Resolution ENACOM 927/2020, the International Roaming Regime between the Republic of Argentina and the Republic of Chile was approved, establishing as from August 29, 2020, the price for international roaming service between the two countries as a local servic</span><span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">e</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since the amendment of the Argentine Digital Act by Decree of Need and Urgency No. 690/2020, the licensees may set the prices, which must be fair and reasonable, must cover exploitation costs and aim to an efficient provision and a reasonable operation margin. The authority may regulate the prices for reason of public interest.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2020, the BO published the ENACOM Resolution No. 1467/2020, which regulates the Mandatory Universal Basic Provision (PBU) for fixed and mobile telephone services, internet services and radio broadcasting by subscription through physical or radio links. Both the PBU benefits and the prices are established by the control authority. Only a certain group of persons who are covered by the cases set by the regulation (social plans beneficiaries, unemployed, etc.) may have access to the PBU. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The National Entity of Communications (ENACOM) has the power to control interconnection prices and tariffs, and also to set them in order to the general costs or other compensation mechanism. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Ministry of Modernization issued resolution 286/2018 establishing a new interconnection regulation. Based on this, ENACOM set a local origination or termination rate in the Fixed Telephony Service's networks equivalent to 0.0045 dollars per minute, for the local transit service an interim rate equivalent 0.0010 dollars per minute and for the service of long distance transport an interim rate equivalent to 0.0027 dollars per minute. A rate of 0.0108 dollars per minute applies to local origination or termination services in mobile networks. For all cases, the second was set as the appraisal unit of measurement. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Colombia </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Colombia there are different agencies responsible for decision-making in the Information Technology and Communications sector (ICT), among them are the Ministry of Information and Communication Technologies (MinTIC), the Communications Regulation Commission (CRC), the National Spectrum Agency (ANE), the Superintendence of Industry and Commerce (SIC). </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Through Law 1341 of July 30, 2009, principles and concepts applicable to Information societies and the Organization of Information and Communications Technologies -ICT- are defined, the National Spectrum Agency is created and other provisions are issued and establishes the general framework for the formulation of public policies in the Information Technology and Communications sector. This Law was amended by Law 1978 of 2019, ICT sector is modernized, the competences are distributed and a single regulator is created, with the purpose of encouraging investment in the sector and focus on connectivity, creating more and better services, as well as unifying the regulatory framework and strengthening public television and radio. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Likewise, article 10 of Law 1341 of 2009 establishes the general rating regime for the provision of telecommunications networks and services, this rating is understood to be formally assorted, when the interested party is registered in the ICT register, provided by Article 15 of the abovementioned Law, in the same way. With the reform of this Law carried out with the Law 1978 of 2019, the subscription television service is included as provision of telecommunications networks and services and by virtue of the provisions of the transition regime established by such last mentioned regulation, the operators that to date of its publication, had concession contracts for the provision of television can qualify for general authorization and provide services in an environment of technological neutrality. In addition, telecommunication services continue to be public services in charge of the State, and Internet access has been declared an essential public service by Law 2108 of 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Also, in accordance with the provisions of Article 11 of the Law 1341 of 2009, the use of the spectrum requires prior, express and granted permission by the MinTIC. As of 2019, with the amendment of Article 8 of the Law 1978, the validity of the use permit is extended of spectrum and its renewal from 10 to 20 years. The regulation provides that the granting or renewal of the permit to use a segment of the radio spectrum will result in payment, in favor of the Information and Communications Technology Fund and in charge of the permit holder. With the amendment of 2019, this consideration may be partially paid, up to 60% of the total amount, through the execution of obligations to do, to expand the quality, capacity and coverage of the service, which benefits the poor and vulnerable population, or in remote areas, in public schools located in rural areas and other official institutions such as health centers and public libraries, as well as providing emergency networks. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On the other hand, the Colombian competition law is included in Law No. 155/1959, Decree No. 2153/1992 and Law No. 1340/2009 on restrictive trade practices.  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main concessions and licenses for spectrum use are reflected in the table, at the end of the Annex. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telefonica applied in 2021 for the renewal of the permit for 15 MHz of spectrum in the 1900 MHz band, which was valid until October 18, 2021. For the renewal, on October 19, 2021 the MinTIC issued the resolution 2803 setting the price of renewal for 20 years. Telef&#243;nica appealed this resolution and the Ministry resolved, through Resolution 2143 of 2022, to decrease the renewal cost and eliminate the technological update obligations considered in the resolution of October 2021.  Telef&#243;nica filed a request for direct revocation of the Resolution 2143, which was denied through Resolution 4454 of 2022.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In Colombia, a Spectrum Auction Action Plan was published in December 2022 which announced that the conditions for the renewal of spectrum permits to expire in 2023 and 2024 will be defined and actions will be taken to carry out auctions of the remaining spectrum in the 700 MHz, 1900 MHz and 2500 MHz bands, and the 3.5 GHz and 26 GHz 5G bands, indicating that the assignment process would be carried out in the third quarter of 2023. In development of this, Min Tic published a resolution inviting parties to express interest in participating in the Auction Process for the granting of permits for the use of radio spectrum in the three aforementioned bands and adding to the process the 3.5GHz and 26GHz bands with the following amounts of spectrum available: 10MHz of 700 MHz and 1900MHz, 30 MHz in the 2500MHz band, 400 MHz in the 3500MHz band and 2.8 GHz in the 26 GHz band. An important change is that the ICT Ministry in 2022 modified the maximum spectrum caps for Telecommunications Networks and Services provider for use in terrestrial mobile services (IMT). The caps were set at 50 MHz for the low </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">bands (below 1 GHz), 100 MHz for the medium bands (between 1 GHz and below 3GHz) and 100 MHz for the high medium bands (between 3 GHz and 6 GHz). In the expression of interest Telef&#243;nica stressed, among other points, the importance of an adequate spectrum pricing policy, transparency in valuation methodologies, an adequate framework to correct the problems of dominance in the mobile market and the elimination of barriers.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finally, although Telef&#243;nica is in favor of increasing the spectrum caps, has requested additional measures to avoid resource monopolization by the dominant operator.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mobile and fixed operators in Colombia have the right to interconnect to other operators&#8217; networks. Before the intervention of regulatory authorities, operators must attempt direct negotiations. Interconnection must assure compliance with the objectives of non-discriminatory treatment, transparency, prices based on costs plus a reasonable profit and promotion of competition. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In February 2022 the CRC published Resolution 6522 of 2022 whereby some provisions related to the access, use and interconnection of telecommunications networks are modified, modifying the signaling conditions by introducing the mandatory use of the SIP protocol in at least one node of the network;  access conditions on the part of content and application providers (PCA) or Technology Integrators for the provision of content, some articles were modified regarding user protection with regards to sending SMS and USSD for commercial and advertising purposes, and establishing new obligations for assignees of short codes, the content of the Basic Interconnection Offer (OBI) was also changed with regards to the guarantees, establishing the option of prepayment and the obligation to update them.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2022 the CRC issued Resolution 7007 which modifies the remuneration conditions for mobile services as of January 2023. The charges for termination in mobile networks, termination of text messages, and the remuneration of National Automatic Roaming and OMVs are reduced.  Bill and Keep will apply on remuneration of termination in mobile networks and SMS from May 1, 2025; it does not apply to the use of mobile networks by technology integrators, PCAs and international long distance providers. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Technologies of Information and Communications Law provides for a free pricing system for communication services, unless there are market failures or quality problems. From 2016 retail tariffs for fix to mobile calls are no longer regulated except for TIGO (one of the commercial names under which Colombia Movil operates) which still holds concession for the provision of personal communication services (PCS's). </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Peru </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General regulatory framework </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provision of telecommunications services in Peru is governed by the Telecommunications Law, its General Regulation and related regulations. In July 2012, the Peruvian Congress approved the Law of Promotion of the Broad Band and Construction of the National Fiber Optic Backbone, Law No. 29904. This Law declared both (i) the construction of a National Fiber Optic Backbone available to the government to make possible the connectivity by the broad band; and (ii) the access and use of the infrastructure associated with the public services of energy and hydrocarbon to facilitate the display of the telecommunication network for the provision of the broad band of public necessity. In addition, Law No. 29904 implied that operators of electric, transport and hydrocarbon infrastructure projects would have to install fiber optic that would be available to the government and given in concession to telecommunication operators. Also, this law established that a percentage of the capacity of the National Fiber Optic Backbone would be reserved to the government to satisfy its necessities. Additionally, this Law incorporated the obligation of the Internet services providers to comply with the Net Neutrality regulations. In this sense, the NRA, the Organismo Supervisor de las Telecomunicaciones (OSIPTEL), adopted regulations aimed at providing clear guidelines on the implementation of the net neutrality regime adopted in Peru in 2012 that are in force since January 1, 2017. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Law No. 30083 was approved in September 2013, which seeks to strengthen competition in the public mobile market service by introducing MVNOs and mobile rural infrastructure operators (MRIO). Regulations developing the Act were published in August 2015. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The general competition framework in Peru is based on the Legislative Decree No. 1034. This Law it is applied, in the telecommunication sector, by OSIPTEL. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2019, the government approved the Prior Control of Business Concentration Operations, applicable for those mergers, acquisitions, constitution of joint ventures or the acquisition of productive assets of economic agents that produce effects that restrict competition in the National territory. This regulation shall enter into force in March 2021. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Licenses </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main licenses and concessions to use spectrum are shown in the table at the end of this Annex. </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica del Per&#250; S.A.A faces seven concession renewal processes which correspond to requests made between 2014 and 2020, all of them are pending of decisions on the part of the Ministry of Transportation and Communications (&#8220;MTC&#8221;). These concessions, according with Peruvian legislation, remain valid while the proceedings are still ongoing.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">One of these renewal processes corresponds to the fourth gradual renewal of the concessions for the provision of fixed telephony services, which must be reevaluated as Telef&#243;nica del Per&#250; S.A.A won the arbitration process against the MTC&#180;s decision to deny this renewal.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cable distribution broadcasting service concessions were renewed in May 2016 until March 2032 and 2033, respectively.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2020, the Ministry of Transportation and Communications granted Pangeaco, S.A.C. concession for the provision of telecommunications public services for a 20-year term, renewable. This Group company was created in March 2020 in order to provide all kind of telecommunications services, as well as to acquire, have and exploit telecommunications infrastructure. The company signed on January 15, 2021 the respective concession contract.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regarding to the auction on the 1,750 - 1,780 MHz, 2,150 - 2,180 MHz, and 2,300 - 2,330 MHz bands, Telef&#243;nica del Per&#250; S.A.A. was preselected for the 2022 auction, which was suspended. The process was restarted at the beginning of January 2023, and it is expected that the spectrum will be awarded by the end of the first half of 2023.  With regards to 5G, and the spectrum auction for the 3.5 GHz and 26 GHz band, no decision has been taken as of yet. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Wholesale regulation for Major Suppliers </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">OSIPTEL reviews the markets identified as priority (fixed Internet, mobile, pay TV and circuits) every 3 years in order to determine the existence of major suppliers (companies with market power) in such markets and to impose obligations such as infrastructure sharing and services resale. On June 17, 2021, OSIPTEL resolved to declare Telef&#243;nica del Per&#250; S.A.A. and its Economic Group in the country as an important provider in the wholesale Pay TV market in 10 regional markets. Telef&#243;nica del Per&#250; S.A.A. won an appeal for reconsideration against this decision, eliminating the obligation of sharing/reselling content.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Prices and tariffs </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tariffs for fixed local telephony and long distance services are adjusted every three months considering services baskets, pursuant to a price cap formulae from inflation and a productivity and must be approved by OSIPTEL in accordance with a price cap formula based on a productivity factor. Rates charged by mobile providers to their customers have been subject to a free tariff regime supervised by OSIPTEL. Tariffs must be reported to OSIPTEL prior to implementation. On 2011, OSIPTEL approved a new price cap system by which the operators of fixed services determine the rates of the local fixed-mobile calls. Such rate is adjusted every time there is an adjustment mobile interconnection rate. On June 17, 2022, OSIPTEL adjusted the rate applicable to local calls made from Telef&#243;nica del Per&#250; S.A.A.&#8217;s fixed telephones to mobile networks in PEN 0.0006 per second without IGV. Said rate entered into force on June 19, 2022. In the 2022 adjustment, the level of the ceiling rate was maintained.</span><span style="color:#50535a;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interconnection </span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 3, 2022, OSIPTEL published the amendment of the MTR, at 0.00129 U.S. dollars per minute rated at the second, which is applicable as of May 4, 2022 and applies to all mobile service operators. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Main concessions and licenses held by the Telef&#243;nica Group </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables list the concessions and licenses as at December 31, 2022 to use spectrum for mobile services and selected other applications in each country. </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:32.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.322%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.565%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:24.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.568%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUROPE</span></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2031</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29.6&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29.6&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United Kingdom (5)</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34.8&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.6&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2300</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14.2&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2040</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2040</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Initial term until 1 December 1, 2041, can be extended for 20 additional years. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Initial term until 2020, extended concession until April 18, 2030. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses in Madrid and Melilla. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> National license excluding 2 regions (Madrid and Melilla). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"> These licenses are part of the joint venture with Liberty Global plc (VMED O2 UK Limited).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:33.357%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.468%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.565%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:24.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.569%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BRAZIL </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</span></div></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5-10</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023-2035</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30-65</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023-2035</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30-60</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2300</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40-50</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2500</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40-60</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027-2031</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHZ</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Expiration date accounts for initial term of 15 years for 450, 700, 2100 and 2500 MHz bands, another 15 years extension are contemplated in these licenses. In 2300 MHz, 3.5 and 26 GHz the initial term is 20 years, with additional 20 years extension. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional codes are included in Annex 1. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Except regions 2', 4', 6', 7', 7&#8217;&#8217; and 10. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses second term expiring in different dates. Concession extended until 2028.  </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses of 5 MHz or 10 MHz. Not in regions 1 and 10. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(6)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses: second term expiration and renewal dates are dependent on the region.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(7)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses between 30 MHz and 65 MHz.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(8)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 40 MHz national license, plus Band P (20 MHz) in some areas. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(9)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> The initial term of Band X will expire in 2027 and Band P will expire in 2031. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(10)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 30 MHz in some regions. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(11)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses: 40 MHz in North, SP and CO; 50 MHz in RJ, ES e MG.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.391%"><tr><td style="width:1.0%"/><td style="width:21.336%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.803%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:40.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.313%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.441%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">HISPANOAM&#201;RICA</span></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Argentina</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (AMBA)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Sur)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (AMBA)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Norte)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Sur)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2035</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chile</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2045</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2032</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2043</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2051</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ecuador</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Peru</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">450&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2036</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Lima and Callao)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Rest of provinces)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Lima and Callao)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Rest of provinces)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2018</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Uruguay</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2037</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024/2047</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2045</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Venezuela</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Covering 65% of the population.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Fixed Wireless Access licenses 25+25 MHz in 23 localities with indefinite term (Res. SC 10160/1999, including AMBA region). </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 10MHz sold in 2021 as a result of the &#8216;Subtel&#8217; (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. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Only in Metropolitan Region. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Renewed for 20 years. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(6)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Provinces of Lima and Callao: expiration date of March 2030; rest of provinces in December 2030. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(7)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> In process of renewal. Extension requested on May 30, 2016. According to the regulation, the license maintains its validity until the Ministry of Transport and Communications decides over the request presented. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(8)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 10 MHz expires in 2024; 10 MHz has been renewed for 25 years until in 2047. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(9)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Renewed for 5 years. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline">(10)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"> Available for Fixed Wireless Access licenses.</span></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:174%">Telef&#243;nica seeks&#160;to use its spectrum in the most efficient way, implementing 5G and LTE-Advanced where possible. </span></div>Besides the spectrum assets included in the above tables, Telef&#243;nica owns other assets of spectrum used for other services in higher frequency ranges (above 6 GHz), including access transport.<span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788453312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Annex 1<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Annex1Abstract', window );"><strong>Annex 1 [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory', window );">Annex 1</a></td>
<td class="text">Basis of presentation of the consolidated financial statements<div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements were prepared from the accounting records of Telef&#243;nica, S.A. and each of the companies comprising the Telef&#243;nica 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 present fairly, in all material respects, the consolidated equity and financial position at December&#160;31, 2022, and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The euro is the Group&#8217;s reporting currency.&#160;The figures in these consolidated financial statements are expressed in million euros, unless indicated otherwise, and may therefore be rounded. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Materiality criteria </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group&#8217;s consolidated financial statements, taken as a whole, are concerned.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Comparative information and main changes in the consolidation scope </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For comparative purposes, the accompanying consolidated financial statements for 2022 include the figures for 2021, 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 2020.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2022 and 2021 (see Appendix I for a detailed description of the consolidation scope and the changes during the year) are as listed below.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exchange rates evolution</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.234%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variation of average exchange rate vs euro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 vs 2021</span></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><br/></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 vs 2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.4&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">New peruvian sol</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.7&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chilean peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.5&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.6&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.234%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variation of closing exchange rate vs euro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 vs 2021</span></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 vs 2020</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.5&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.3&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">New peruvian sol</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chilean peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.5&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.4&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2022, there was a positive impact on Equity attributable to equity holders of the Parent Company for translation differences amounting to 1,169 million euros (see Note 17.f), mainly due to the appreciation of the Brazilian real.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement between Telef&#243;nica and Liberty Global plc to combine their operating businesses in the UK</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 7, 2020, Telef&#243;nica reached an agreement with Liberty Global plc to combine into a 50-50 joint venture their operating businesses in the United Kingdom (O2 Holdings Ltd. and Virgin Media UK, respectively). On June 1, 2021 after obtaining the relevant regulatory approvals, consummation of the necessary recapitalization and satisfaction of other closing conditions, the closing of the transaction was carried out, resulting in the combination of both businesses into the joint venture called VMED O2 UK Limited ("VMO2"). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telefonica United Kingdom, which was fully consolidated within the Group, is excluded from the scope of consolidation from June 1, 2021 (Note 4). From that date, VMO2 is registered under the equity method (see notes 4 and 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The constitution of the joint venture resulted in a contribution of 5,376 million pounds sterling (equivalent to 6,234 million euros at  the transaction day) for Telefonica, of which 2,622 million pounds correspond to the cash payment to Telef&#243;nica to equalise ownership in the joint venture (including the post-completion adjustment, see Note 29.c) and 2,754 million pounds correspond to proceeds from recapitalization.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a consequence of this transaction, the Group   recognized a gain amounting to 4,460 million euros in &#8220;Other income&#8221; in 2021 (see Note 26), as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash received</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,234&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value of 50% of VMO2 (Note 10)</span></div></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,012&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less: carrying amount of Telefonica United Kingdom at June 1, 2021</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,937)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Liabilities assumed and other costs (see Note 29.c)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(441)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result before reclassification of translation differences and gains on hedges</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,868</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of translation differences included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,135)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of gains on hedges included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">727&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, the accumulated actuarial losses of Telefonica United Kingdom amounting to 392 million euros were reclassified to retained earnings, with no effect in net equity. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Agreement between Telxius Telecom and American Tower Corporation for the sale of its telecommunications towers divisions in Europe and Latin America</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 13, 2021 Telxius Telecom, S.A. (a company of the Telef&#243;nica 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).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreement established 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), fixing the respective closures after the corresponding regulatory authorizations. The agreement included the transfer to ATC of the towers that Telxius agreed to acquire from Telef&#243;nica Germany GmbH &amp; Co. under the agreement signed on June 8, 2020, both the towers acquired in the first phase on September 1, 2020 as well as the towers that were acquired in the second phase in August 2021.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 1, 2021, once the relevant regulatory approvals had been obtained in Spain and Germany, the closing of the sale of the telecommunication towers division located in Europe was carried out, for a total selling price of 6,346 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 3, 2021, the closing of the sale of the telecommunication towers division located in Latin America was carried out, for a selling price of 887 million euros. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 2, 2021, the closing of the sale to ATC of 4,080 sites that Telxius undertook to acquire from Telef&#243;nica Germany GmbH &amp; Co. OHG, under the second phase of the agreement reached between both parties on June 8, 2020 was carried out, which stated a total purchase price of 632 million euros. With the closing of this transaction, together with the sales of the telecommunications towers divisions in Europe and Latin America carried out in June, the sale process agreed between Telxius and ATC was finalized.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These transactions generated in 2021 a gain of 6,099 million euros registered in "Other income" (see Note 26), with the following breakdown:  </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.607%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:24.193%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Selling price</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,865</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less: carrying amount of net assets and transaction costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,729&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result before reclassification of translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,099</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result attributable to non-controlling shareholders</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,246)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result attributable to equity holders of the parent</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,691</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the closing of these transactions, the companies of the Europe and Latin Am&#233;rica towers divisions were excluded from the consolidation perimeter. The Telef&#243;nica Group operators maintained the leases agreements of the towers signed with the sold subsidiaries of Telxius. Consequently, as of the closing date of the transactions, rights of use and lease liabilities were recorded in the consolidated statement of financial position, amounting to 2,633 million euros (see Note 9) and 2,775 million euros (see Note 20), respectively. </span></div><div style="margin-bottom:9pt;margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Acquisition of mobile assets of Oi Group</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 20, 2022, the closing of the transaction related to the Purchase Agreement for Acquisition of Unidade Produtiva Isolada (UPI) Mobile Assets of Oi Group took place, and Telef&#243;nica Brasil acquired, on such date, all the shares of the company Garliava RJ Infraestrutura e Redes de Telecomunica&#231;&#245;es S.A. (Garliava), to which the mobile assets of Oi Group assigned to Telef&#243;nica Brazil had been contributed, under the segregation plan stated in the Oi Agreement (see Note 29.c).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Telef&#243;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount, still subject to adjustments, of 5,373 million Brazilian reais (approximately 1,063 million euros at the exchange rate at such date), A payment of 4,885 million Brazilian reais (approximately 972 million euros) was made at closing of the transaction. The remaining amount, equivalent to 10% of the payment made on that date, is withheld subject to certain price adjustments and potential indemnification obligations contained in the Oi Agreement. The total consideration also includes 110 million Brazilian reais subject to the fulfilment of certain targets, and other costs amounting to 8 million Brazilian reais. Thus, the total consideration transferred amounted to 5,492 million Brazilian reais (1,093 million euros at the date of the closing of the transaction). </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On the date of approval of these consolidated financial statements, the Company had already concluded the report for the allocation of the purchase price. The fair value assigned to Oi's licenses amounts to 520 million euros. The goodwill amounts to 676 million euros (see Note 5).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Agreement between Telef&#243;nica de Espa&#241;a and Telef&#243;nica Infra with Vauban Infrastructure Partners and Credit Agricole Assurance for the establishment of Bluevia</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2022, an agreement was reached between Telefonica de Espa&#241;a and Telefonica Infra with the consortium formed by Vauban Infrastructure Partners (Vauban) and Cr&#233;dit Agricole Assurances (CAA) for the establishment of a company, Bluevia Fibra, S.L. for the deployment and commercialization of a fiber to the home network mainly in rural areas in Spain.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 20, 2022 once the regulatory authorizations were obtained and after the fulfillment of the remaining agreed conditions, the transaction was completed.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consortium formed by CAA and Vauban has acquired 45% of the Company for a total amount of 1,021 million euros in cash, paid on the closing of the agreement (see Note 28). The transaction had no impact on the consolidated income statements of the Telef&#243;nica Group as it consisted on the sale of minority interest, with Telef&#243;nica retaining control over Bluevia. The impact of this transaction in equity attributable to equity holders of the parent was an increase of 986 million euros in "Retained earnings". In addition, there was in increase in equity attributable to non-controlling interest amounting to 23 million euros (see Note 17).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The difference between the tax value of the assets transferred to Bluevia and their carrying amount in the Group's consolidated annual accounts generated a deferred tax asset for deductible temporary differences amounting to 548 million euros (see Note 25).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Individual Suspension Plan</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 28, 2021, Telef&#243;nica Spain signed a Social Pact for Employment supported by the largest trade unions. Said Pact includes the Company&#8217;s differential commitments and is based on the following six lines of work: equality and diversity; new ways of working, flexibility and productivity; incorporation and retention of talent; reskilling and professional development; functional and geographical mobility; and a plan for the voluntary individual suspension of the employment relationship (the Individual Suspension Plan).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The target audience of the Individual Suspension Plan are the employees turning 55 years or older in 2022 and with a seniority of more than 20 years. Maximum percentages of adhesion differ according to the areas. </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The present value of the estimated payment flows resulting from the Plan resulted in expenses amounting to 1,382 million euros before taxes in 2021 (see Note 24), reflected in "Personnel expenses" to the Consolidated Financial Statements).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Impairment of goodwill of Telef&#243;nica del Per&#250;</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#243;nica del Per&#250;, amounting to 393 million euros (see Note 7).</span></div><div style="margin-top:9pt"><span style="color:#1f497d;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">ANNEX 1</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acronym</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">State</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acre</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alagoas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amap&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amazonas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bahia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ceara</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distrito Federal</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Esp&#237;rito Santo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goi&#225;s</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Maranh&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Minas Gerais</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Par&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Para&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paran&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pernambuco</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Piau&#237;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio de Janeiro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Norte</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rond&#244;nia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Roraima</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Catarina</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">S&#227;o Paulo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sergipe</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tocantins</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Regions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">States &amp; towns<br/>included in the regions</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (City)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (Interior)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP -&#160;&#160;towns of sector 33 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ and ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG -&#160;&#160;towns of sector 3 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR and SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR - towns of sector 20 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS - towns of sector 30 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC, DF, GO, MS, MT, RO and TO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO - towns of sector 25 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7''</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS - towns of sector 22 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM, AP, MA, PA and RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA and SE</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL, CE, PB, PE, PI and RN</span></td></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sectors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GPLG -&#160;&#160;general plan of the licenses granted&#160;&#160;(geographic areas that correspond to the sectors)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - except towns included in sector 3</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - towns of&#160;&#160;Arapor&#227;, Ara&#250;jo, Campina Verde, Campo Florido, Campos Altos, Can&#225;lopis, Capin&#243;polis, Carmo do Parana&#237;ba, Carneirinhos, Centralina, Comendador Gomes, Concei&#231;&#227;o das Alagoas, C&#243;rrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhat&#227;, Ibiraci, Igaratinga, Iguatama, Indian&#243;polis, Ipia&#231;&#250;, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Par&#225; de Minas, Patos de Minas, Pedrin&#243;polis, Pequi, Perdig&#227;o, Pirajuba, Pitangui, Planura, Prata, Presidente Oleg&#225;rio, Rio Parana&#237;ba, Santa Juliana, Santa Vit&#243;ria, S&#227;o Francisco de Sales, S&#227;o Jos&#233; da Varginha, Tupaciguara, Uberaba, Uberl&#226;ndia, Uni&#227;o de Minas &amp; Vazante</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211;except&#160;&#160;towns included of sector 20</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211; towns of Londrina and Tamarana</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; except the town integrating of sector 22</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; town of Parana&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO and GO &#8211; except&#160;&#160;towns included in sector 25</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO &#8211; towns of Buriti Alegre, Cachoeira Dourada, Inaciol&#226;ndia, Itumbiara, Paranaiguara and S&#227;o Sim&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS &#8211; towns of Pelotas, Cap&#227;o do Le&#227;o, Morro Redondo and Turu&#231;u</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; except the towns included in sector 33</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">33</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; towns of Altin&#243;polis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, C&#225;ssia dos Coqueiros, Col&#244;mbia, Franca, Gua&#237;ra, Guar&#225;, Ipu&#227;, Ituverava, Jardin&#243;polis, Miguel&#243;polis, Morro Agudo, Nuporanga, Orl&#226;ndia, Ribeir&#227;o Corrente, Sales de Oliveira, Santa Cruz da Esperan&#231;a, Santo Ant&#244;nio da Alegria and S&#227;o Joaquim da Barra</span></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the basis used for the preparation of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annex 1 [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787416688">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfSignificantAccountingPoliciesAbstract', window );"><strong>Disclosure Of Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHyperinflationaryReportingExplanatory', window );">Hyperinflationary economies</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a) Hyperinflationary economies </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Venezuela has been considered a hyperinflationary economy since 2009. 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, the Group maintains as a policy for the purposes of the consolidated financial statements the estimation of an exchange rate, known as synthetic exchange rate, that matches the progression of inflation and reflects the economic and financial position of the Group&#8217;s Venezuelan operations in a more accurate way.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The synthetic exchange rate is calculated considering the inflation rates that are published. On an annual basis, these rates are 174.3%, 686.4% and 2,959.8% for 2022, 2021 and 2020, respectively. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange rate used to translate inflation-adjusted bolivar-denominated items in the consolidated financial statements is the synthetic exchange rate as of the closing date of each reporting period, amounting to 45.18 digital bolivars per U.S. dollar, 16.47 digital bolivars per U.S. dollar and 2,094,405 bolivars per U.S. dollar as of December&#160;31, 2022, 2021 and 2020, respectively. In turn, the official reference exchange rate at December 31, 2022 was 17.489 VED/USD (4.597 VED/USD and 1,107,199VES/USD at December 31, 2021 and 2020, respectively). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The use of a synthetic exchange rate versus the official reference exchange rate does not have a significant impact given the contribution of Telef&#243;nica Venezolana to the consolidated financial position and to the Group's results and cash flows for the year.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2018 Argentina became a hyperinflationary economy. In order to restate its financial statements, the Company uses the series of indices defined by resolution JG No. 539/18 issued by the Federaci&#243;n Argentina de Consejos Profesionales de Ciencias Econ&#243;micas (FACPCE), based on the National Consumer Price Index (IPC) published by the Instituto Nacional de Estad&#237;stica y Censos (INDEC) of the Argentine Republic and the Wholesale Internal Price Index (IPIM) published by FACPCE. The cumulative index at December 31, 2022, 2021 and 2020 is 1,134.6%, 582.5% and 385.9%, respectively, while on an annual basis the index for 2022 is 95%</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(51% and 36% in 2021 and 2020, respectively). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The exchange rate used to translate inflation-adjusted items denominated in Argentine pesos in the 2022 financial statements is the closing exchange rate as of December 31, 2022 which was 189.08 Argentine pesos per euro (116.37 and 103.23 Argentine pesos per euro at December 31, 2021 and 2020, respectively). </span></div>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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory', window );">Translation methodology</a></td>
<td class="text">b) Translation methodology The income statements and statements of cash flows of the Telef&#243;nica Group&#8217;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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory', window );">Goodwill</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c) Goodwill </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div>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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory', window );">Intangible assets</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d) Intangible assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets are carried at acquisition or production cost, less any accumulated amortization or any accumulated impairment losses. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets are amortized on a straight-line basis according to the following: </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt">Licenses granted to the Telef&#243;nica 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 Telef&#243;nica Group (&#8220;Service concession arrangements and licenses&#8221;) are amortized on a straight-line basis over the duration of related licenses from the moment commercial operation begins.  </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">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 4 and 14 years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). </span></div>&#8226;Software is amortized on a straight-line basis over its useful life, generally estimated to be between <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzU1NTk_184e2ba0-1e54-472d-932c-0e02349a8eb6">two</span> and five years.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Property, plant and equipment</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">e) Property, plant and equipment </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment is carried at cost less any accumulated depreciation and any accumulated impairment in value. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest and other financial expenses incurred and directly attributable to the acquisition or construction of qualifying assets are capitalized. Qualifying assets for the Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group&#8217;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&#8217; 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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Years of estimated<br/>useful life</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buildings</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25  &#8211; 40</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5 &#8211;  25</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2  &#8211;  10</span></div></td></tr></table></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory', window );">Impairment of non-current assets</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">f) Impairment of non-current assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-current assets, including goodwill, intangible assets and investments in associates and joint ventures, 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&#8217;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. </span></div>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<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory', window );">Lease agreements</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">g) Lease agreements </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8211; discounted using the incremental borrowing rate at the start date of the lease.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Notably, 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).</span></div>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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory', window );">Investment in associates and joint arrangements</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">h) Investment in associates and joint arrangements </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div>contributed and the fair value of the retained investment and the consideration received from disposal is recognized in full in profit or loss.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Financial assets</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financial Assets</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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).  </span></div>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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory', window );">Derivative financial instruments and hedge accounting</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivative financial instruments and hedge accounting </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div>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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories', window );">Inventories</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">j) Inventories </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MjU2_3d99399d-20c3-426f-9362-7c17d26654ec">thirty-six</span> months. </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-bottom:8pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div>In-house produced programs and series and program titles are charged at the time of their broadcast or up to <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2OTkx_b3b45b16-ed34-4c35-bab4-6f8ef5179fda">thirty-six</span> 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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory', window );">Pensions and other employee obligations</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">k) Pensions and other employee obligations </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div>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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Revenues</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">l) Revenues and expenses </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from calls carried on Telef&#243;nica&#8217;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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection revenues from fixed-wireless and wireless-fixed calls and other customer services are recognized in the period in which the calls are made. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the Group is in an intermediary position between a supplier/vendor and an end customer, it must determine if it is supplying the product or service as the principal in the transaction or if it is acting as an agent on behalf of the supplier (manufacturer, wholesaler). The distinction determines who controls the goods or services being provided and who has the primary obligation to satisfy the performance obligation. This assessment affects the timing and amount of revenue recognized in the financial statements, either on a gross basis as the principal or on a net basis as the agent, representing the margin earned by the Group for arranging the transaction between the principal and the customer. This is particularly relevant for the Group in connection with digital services such as streaming TV content and cloud-based software.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of our strategy, the Group has increased its use of renewable energy through power purchase agreements (PPAs) to purchase energy from sustainable sources, such as wind and solar. These contracts often have a long term and provide the Group with a mechanism to ensure the supply of green energy at fixed prices. When these arrangements involve physical delivery of electricity and are entered into for the purpose of receiving the energy for the entity&#8217;s expected purchase, sale or usage requirements (i.e. volume agreed does not exceed actual and expected power needs), the contract is for &#8220;own use&#8221; and is generally accounted for as power purchases or sales when the underlying transactions take place.</span></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory', window );">Expenses</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">l) Revenues and expenses </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from calls carried on Telef&#243;nica&#8217;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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interconnection revenues from fixed-wireless and wireless-fixed calls and other customer services are recognized in the period in which the calls are made. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the Group is in an intermediary position between a supplier/vendor and an end customer, it must determine if it is supplying the product or service as the principal in the transaction or if it is acting as an agent on behalf of the supplier (manufacturer, wholesaler). The distinction determines who controls the goods or services being provided and who has the primary obligation to satisfy the performance obligation. This assessment affects the timing and amount of revenue recognized in the financial statements, either on a gross basis as the principal or on a net basis as the agent, representing the margin earned by the Group for arranging the transaction between the principal and the customer. This is particularly relevant for the Group in connection with digital services such as streaming TV content and cloud-based software.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of our strategy, the Group has increased its use of renewable energy through power purchase agreements (PPAs) to purchase energy from sustainable sources, such as wind and solar. These contracts often have a long term and provide the Group with a mechanism to ensure the supply of green energy at fixed prices. When these arrangements involve physical delivery of electricity and are entered into for the purpose of receiving the energy for the entity&#8217;s expected purchase, sale or usage requirements (i.e. volume agreed does not exceed actual and expected power needs), the contract is for &#8220;own use&#8221; and is generally accounted for as power purchases or sales when the underlying transactions take place.</span></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory', window );">Non-current assets held for sale</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">m) Non-current assets held for sale</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 &#8220;Non-current assets and disposal groups held for sale&#8221; and &#8220;Liabilities associated with non-current assets and disposal groups held for sale&#8221;. Once classified as held for sale property, plant and equipment and intangible assets (including right-of-use assets) are no longer depreciated or amortized. </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UseOfEstimatesPolicyTextBlock', window );">Use of estimates</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">n) Use of estimates </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;s results and financial position. Accordingly, sensitivity analysis are disclosed for the most relevant situations (see Notes 7 and 24). </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Non-current assets and goodwill </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting treatment of investments in non-current assets such as property, plant and equipment, intangible assets and interests in associates and joint ventures, 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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Also, 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. The fair value assigned to the retained investment is determined on the basis of its business plan, including significant judgments when considering significant assumptions such as long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate which would be significantly affected by the future trends in the economic, competitive, regulatory and technological environment. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group evaluates its cash-generating units&#8217; performance on a regular basis to identify potential impairments of goodwill and other non-current assets. Determining the recoverable amount of the cash-generating units also entails the use of assumptions and estimates and requires a significant element of judgment. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Deferred income taxes </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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&#8217;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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Provisions </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue recognition </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Bundled offers </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Determining standalone selling prices for each identified element requires estimates that are complex due to the nature of the business. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Leases </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div>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.<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations', window );">New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC)</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting policies applied in the preparation of the consolidated financial statements for the year ended December&#160;31, 2022 are consistent with those used in the preparation of the Group&#8217;s consolidated annual financial statements for the year ended December&#160;31, 2021, with the exception of the following new standards and amendments to existing standards issued by the IASB, which are mandatory for annual periods beginning on or after January 1, 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The application of these amendments for the current reporting period did not have a significant impact on the consolidated financial statements of the Group. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amendments. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IAS 37: Costs of fulfilling a contract </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendments to IAS 37 clarify that when assessing whether a contract is onerous, an entity needs to include all unavoidable costs that relate directly to a contract, including both incremental costs and an allocation of costs directly related to fulfilling contract activities. The Group applied the amendments to the contracts for which it had not fulfilled all of its obligations at the beginning of the reporting period</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IFRS 3: Reference to Conceptual Framework</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Minor amendments were made to update the references to the Conceptual Framework for Financial Reporting and to add an exception to the recognition principle in IFRS 3 Business Combinations regarding liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and Interpretation 21 Levies. The exception requires entities to apply the criteria in IAS 37 or IFRIC 21, respectively, instead of the Conceptual Framework, to determine whether a present obligation exists at the acquisition date. The amendments to IFRS 3 also clarify that contingent assets do not qualify for recognition at the acquisition date. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Amendments to IAS 16: Proceeds Before Intended Use</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while the entity is preparing the asset for its intended use (including while assessing technical and physical performance of the asset). Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Annual Improvements to IFRS Standards 2018-2020</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the annual improvements finalized in May 2020, IFRS 9 Financial Instruments was amended to clarify which fees should an entity include when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other&#8217;s behalf.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:174%">New standards and amendments to standards issued but not effective as of December&#160;31, 2022. </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:37.057%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:37.788%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.855%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Standards and amendments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mandatory application: annual periods beginning on or after</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IFRS 17 (and subsequent amendments)</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Insurance Contracts</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Disclosure of Accounting Policies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Definition of Accounting Estimates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Deferred Tax related to Assets and Liabilities Arising from a Single Transaction</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1 </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Classification of Liabilities as Current or Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Non-current Liabilities with Covenants</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IFRS 16</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Lease Liability in a Sale and Leaseback</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr></table></div>Based on the assessment performed to date, the Group estimates that the adoption of these new pronouncements will not have a significant impact on the consolidated financial statements in the initial period of application. In particular, the Group has made further progress in its assessment to identify contracts that meet the definition of insurance contracts and are therefore within the scope of IFRS 17 Insurance Contracts, but the Group estimates that the future application of the new requirements will not have a significant impact on consolidated equity upon first-time adoption.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for derivative financial instruments and hedging. [Refer: Financial instruments, class [member]; Derivatives [member]]
Effective 2023-01-01: The description of the entity's material accounting policy information for derivative financial instruments and hedging. [Refer: Financial instruments, class [member]; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for employee benefits. Employee benefits are all forms of consideration given by an entity in exchange for services rendered by employees or for the termination of employment.
Effective 2023-01-01: The description of the entity's material accounting policy information for employee benefits. Employee benefits are all forms of consideration given by an entity in exchange for services rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for expenses.
Effective 2023-01-01: The description of the entity's material accounting policy information for expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]]
Effective 2023-01-01: The description of the entity's material accounting policy information for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for foreign currency translation.
Effective 2023-01-01: The description of the entity's material accounting policy information for foreign currency translation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for goodwill. [Refer: Goodwill]
Effective 2023-01-01: The description of the entity's material accounting policy information for goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for the impairment of assets.
Effective 2023-01-01: The description of the entity's material accounting policy information for the impairment of assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for intangible assets other than goodwill. [Refer: Intangible assets other than goodwill]
Effective 2023-01-01: The description of the entity's material accounting policy information for intangible assets other than goodwill. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for investment in associates and joint ventures. [Refer: Associates [member]; Joint ventures [member]]
Effective 2023-01-01: The description of the entity's material accounting policy information for investment in associates and joint ventures. [Refer: Associates [member]; Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time.
Effective 2023-01-01: The description of the entity's material accounting policy information for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for measuring inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 36<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_36_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for non-current assets or disposal groups classified as held for sale. [Refer: Non-current assets or disposal groups classified as held for sale]
Effective 2023-01-01: The description of the entity's material accounting policy information for non-current assets or disposal groups classified as held for sale. [Refer: Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment]
Effective 2023-01-01: The description of the entity's material accounting policy information for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The description of the entity's accounting policy for recognising revenue. [Refer: Revenue]
Effective 2023-01-01: The description of the entity's material accounting policy information for recognising revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Effective 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 117<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_117_b&amp;doctype=Standard&amp;forcepdf=true<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the known or reasonably estimable information relevant to assessing the possible impact that the application of a new IFRS, that has been issued but is not yet effective, will have.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 30<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_30_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial reporting in hyperinflationary economies.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 29<br> -IssueDate 2022-03-24<br> -Section Disclosures<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=29&amp;code=ifrs-tx-2022-en-r&amp;doctype=Standard&amp;dita_xref=IAS29_g39-40__IAS29_g39-40_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Significant Accounting Policies [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799963408">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory', window );">Schedule of Effect of Changes in Foreign Exchange Rates</a></td>
<td class="text"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.234%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variation of average exchange rate vs euro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 vs 2021</span></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"><br/></span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 vs 2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.4&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">New peruvian sol</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.7&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chilean peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.5&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.6&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.234%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variation of closing exchange rate vs euro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022 vs 2021</span></td><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 vs 2020</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.5&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.3&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">New peruvian sol</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.9&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chilean peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8.8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12.2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6.6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.5&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.4&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock', window );">Schedule of Gain on Sale of Disposal Group</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a consequence of this transaction, the Group   recognized a gain amounting to 4,460 million euros in &#8220;Other income&#8221; in 2021 (see Note 26), as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash received</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,234&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value of 50% of VMO2 (Note 10)</span></div></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12,012&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less: carrying amount of Telefonica United Kingdom at June 1, 2021</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,937)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Liabilities assumed and other costs (see Note 29.c)</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(441)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result before reclassification of translation differences and gains on hedges</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,868</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of translation differences included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,135)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Reclassification of gains on hedges included in equity</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">727&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These transactions generated in 2021 a gain of 6,099 million euros registered in "Other income" (see Note 26), with the following breakdown:  </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:73.607%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:24.193%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Selling price</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,865</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less: carrying amount of net assets and transaction costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,729&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result before reclassification of translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result of the transaction: gain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,099</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result attributable to non-controlling shareholders</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,246)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result attributable to equity holders of the parent</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,691</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid 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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791905456">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory', window );">Schedule of Estimated Useful Life of Depreciable Assets</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group&#8217;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&#8217; 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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Years of estimated<br/>useful life</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buildings</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25  &#8211; 40</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5 &#8211;  25</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2  &#8211;  10</span></div></td></tr></table><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition and movements in 2022 and 2021 of the items comprising net "Property, plant and equipment" were as follows:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:14.250%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.823%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation<br/>differences and<br/>hyperinflation<br/>adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combina-tions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(216)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,323&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,707)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,908&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">933&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,867&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,353)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,289</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,133)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(63)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(209)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,127</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,714</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.771%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.186%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.303%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.116%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depre-ciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impair-ments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation<br/>differences and<br/>hyperinflation<br/>adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combi-nations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business sale</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,829&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(241)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,676&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,893)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,780&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(297)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">623&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,519&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,769</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,880</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,360)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(66)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(416)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(383)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Total additions of property, plant and equipment in 2021 amounted to 4,286 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December&#160;31, 2022 and 2021 were as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:34.876%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.909%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,097&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,375)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(81)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,319&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(72,742)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(412)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,157&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,566)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,343&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107,916</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(83,683)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(519)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,714</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:34.876%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.909%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,624&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,905)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(68,713)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(314)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,697&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,133)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,774&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(78,751)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(398)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfInitialApplicationOfStandardsOrInterpretations', window );">Schedule of IFRS and Amendments to Existing Standards Published but not Mandatory</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:37.057%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:37.788%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.855%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Standards and amendments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Mandatory application: annual periods beginning on or after</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">IFRS 17 (and subsequent amendments)</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Insurance Contracts</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Disclosure of Accounting Policies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Definition of Accounting Estimates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Deferred Tax related to Assets and Liabilities Arising from a Single Transaction</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2023</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1 </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Classification of Liabilities as Current or Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IAS 1</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Non-current Liabilities with Covenants</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amendments to IFRS 16</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Lease Liability in a Sale and Leaseback</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 1, 2024</span></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the initial application of an IFRS. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798929488">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingSegmentsAbstract', window );"><strong>Operating Segments [Abstract]</strong></a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory', window );">Schedule of Income and Capital Expenditure Information Regarding the Group's Operating Segments</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 (see Note 9) regarding the Group&#8217;s operating segments: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.262%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.238%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2 </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,224&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,870&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,243&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,982)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,993&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">External revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,224&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,854&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,026&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,685&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,993&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,991)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,909)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,666)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,138)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,183)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,149)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,904&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27,141)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,588</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,558</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,732</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,958</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">94</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(78)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,852</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,157)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,295)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,369)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,799)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(218)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,796)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,431</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">263</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,363</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(124)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,056</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">217</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,795</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,058</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">212</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,819</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">724</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">594</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">596</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">514</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,448</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses includes &#8220;Other income&#8221;, &#8220;Supplies&#8221;, &#8220;Personnel expenses&#8221; and &#8220;Other expenses&#8221;.</span></div></td></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.794%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.531%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,765&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,362&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,059&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,864)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">External revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,156&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,609&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,738&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,897&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,431&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,855)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,040)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,709)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,341)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,772)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,644)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,589&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,623&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17,294)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,377</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">919</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,424</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,718</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(241)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,983</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,153)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,918)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,873)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(356)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,397)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,224</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">919</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,220</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(155)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,586</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of (loss) income of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(16)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(127)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,815</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">933</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,284</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,069</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">978</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">206</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,267</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">482</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">389</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">489</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">387</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">113</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(254)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,439</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income and expenses includes &#8220;Other income&#8221;, &#8220;Supplies&#8221;, &#8220;Personnel expenses&#8221; and &#8220;Other expenses&#8221;.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Additionally, rights of use in the amount of 2,633 million euros were recorded in 2021 following the sale of the tower division of Telxius (see Note 9).</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"><tr><td style="width:1.0%"/><td style="width:18.545%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.944%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.501%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.387%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.947%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,401&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,708&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,422&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,647&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,556)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43,076&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">External revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,118&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,666&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,406&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,786&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,610&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43,076&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intersegment revenues</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">283&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,037&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,546)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,355)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,644)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,223)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,234)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,932)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,288)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,578)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,046</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,064</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,309</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,188</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">990</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(458)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,498</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,184)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(389)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,394)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,965)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,274)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(468)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">315&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,359)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,862</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,284)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(109)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(143)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CapEx</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,408</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">913</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,094</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,372</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">454</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">768</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">364</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">378</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(909)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,014</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses includes &#8220;Other income&#8221;, &#8220;Supplies&#8221;, &#8220;Personnel expenses&#8221; and &#8220;Other expenses&#8221;.</span></div></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the income, CapEx and acquisitions of rights of use of VMED O2 UK (VMO2) in 2022 and 2021 (see Note 2). VMO2 is a joint venture 50% owned by Telef&#243;nica and Liberty Global and is recorded under the equity method (see Note 10). The tables below show the information of the joint venture at 100% and the reconciliation with the Telef&#243;nica Group's share of income (loss) accounted for by the equity method. </span></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:49.777%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.022%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.901%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">VMO2</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">January-December, 2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 1 to December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,155&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,223&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income and expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,754)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,773)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,450</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,170)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,395)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">231</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,020)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(504)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Realised and unrealised gains on derivative instruments, net </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,567&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency transaction losses, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,296)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(355)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result before taxation</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">507</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(300)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result for the period (100% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50% attributable to Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital expenditures (CapEx)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,707</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,508</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of rights of use</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">118</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">75</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents main assets and liabilities by segment: </span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.701%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.944%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2 </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,285&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,602&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,870&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,237&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54,202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,722&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,277&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,048&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,169&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments accounted for by the equity method </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">146&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">410&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-currents assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">992&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">984&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,578&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,082&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,410)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,101&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,395&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">463&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">485&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">612&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">929&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,884&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,435&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,441)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,917</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,779</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,142</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,875</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,951</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,288</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15,310)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">109,642</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,510&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">653&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,502&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,425&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,120)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,059&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,317&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,663&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,531&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,657&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">274&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,032&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">744&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,067&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,840&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,449&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,867)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,020&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">392&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">597&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">629&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">402&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,020&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities associated with non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,782</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,246</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42,869</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15,261)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77,934</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:26.239%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.945%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica<br/>Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Eliminations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,499&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,056&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,637&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,667&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,969&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> </span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,433&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,349&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,701&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,064&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(67)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,579&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments accounted for by the equity method </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,773&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-currents assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">883&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">888&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,001&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,428&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,402)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,347&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">433&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">454&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">713&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,671&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,616&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">838&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,379&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,548)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">358&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,971</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,129</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,953</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,461</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,544</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(14,473)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">109,213</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,140&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,627&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,288&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,554)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,290&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,082&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,781&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,317&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,192&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,391&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,040&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">594&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,602&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,620&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,669&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,591)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,005&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">378&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">548&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">295&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,679&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities associated with non-current assets and disposal groups held for sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,042</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,819</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14,306</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45,129</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(14,367)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80,529</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of assets and liabilities of VMO2 is as follows (amounts corresponding to 100% of the company, see Note 10):</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"><tr><td style="width:1.0%"/><td style="width:47.867%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.301%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.532%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">VMO2</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42,576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">862&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,058&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-currents assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,763&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,348&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">511&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">214&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">52,333</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,185&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">725&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,248&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,626</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,198</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasExplanatory', window );">Schedule of Composition of Segment Revenues, Detailed by the Main Countries of Operation</a></td>
<td class="text"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of segment revenues is as follows:</span></div><div><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:25.439%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.351%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.257%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.084%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.504%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2022</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2021</span></td><td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Country by segments</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Fixed</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mobile</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Others and elims.</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Spain </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,497</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,417</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">United Kingdom </span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,532&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">232&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,476&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,708</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">806&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,394&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,224</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">814&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,942&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,765</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">785&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,730&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,532</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,764&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,106&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,300&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,610&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,910</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,531&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,891&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,422</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,138&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,003&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,907&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,444&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,362</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,836&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,070&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,922</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Other and inter-segment eliminations</span></td><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,261&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,261</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,091&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,091</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,993</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43,076</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Note: In the countries of Telef&#243;nica Hispam segment with separate fixed and mobile operating companies, intercompany revenues were not considered. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">The detail of revenues for Telef&#243;nica Spain is shown in the table below. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Given the convergence reached at Telef&#243;nica Spain due to the high penetration of convergent offers in Telef&#243;nica 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. </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retailers</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,662&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,699&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,906&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wholesalers, mobile handsets sales and others</span></td><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,835&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,718&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,495&#160;</span></td><td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,497</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,417</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of geographical information.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of operating segments. [Refer: Operating segments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799980032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business combinations (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessCombinationsAbstract', window );"><strong>Business Combinations [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory', window );">Schedule of Fair Value of Assets and Liabilities Identified at the Acquisition Moment, and the Goodwill Generated</a></td>
<td class="text">The following table presents the consideration, the fair value of the identifiable assets and the liabilities assumed at the acquisition date and the goodwill:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consideration</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,093</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">539&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Licenses</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">105&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(24)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(221)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(55)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">417</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">676</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table>The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share purchase price</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment obligations cancelled</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts payable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">25</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Preliminary goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">170</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table>The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share purchase price</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">191&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment obligations cancelled</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">353</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Right of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current tax payables</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">74</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Preliminary goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">279</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table>The following table presents the transaction, fair value of assets and liabilities identified at the acquisition moment, and the goodwill generated:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.807%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Enterprise value</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Adjustments of debt and cash</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Consideration (share purchase price)</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">271</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(140)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(49)</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair value of net assets</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Goodwill (Note 7)</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">284</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Section Disclosures application of paragraphs 59 and 61<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;doctype=Appendix&amp;subtype=B&amp;dita_xref=IFRS03_gB64-B67__IFRS03_gB64-B67_TI<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Combinations and Acquisitions of Non-Controlling Interests [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788422384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IntangibleAssetsAbstract', window );"><strong>Intangible Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory', window );">Schedule of Composition and Movements in Net Intangible Assets</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of and movements in net intangible assets in 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.666%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.115%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers<br/>and others</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combi-nations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(844)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">392&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,550&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">495&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,337)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,011&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(356)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">840&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(818)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,530</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,599)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(31)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">204</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">545</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">647</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.700%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combinations</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,573&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,188&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(725)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">197&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,380&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">513&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">828&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,238&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(376)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">512&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">734&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">690&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(807)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,488</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,410</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,388)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(229)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">215</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">121</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">108</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Total additions of intangible assets in 2021 amounted to 2,981 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory', window );">Schedule of Gross Cost, Accumulated Amortization and Impairment Losses of Intangible Assets</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated amortization and impairment losses of intangible assets at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,837&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(164)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,550&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,344)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,368)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">944&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(681)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">870&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(829)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(28,345)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(188)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,007)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,442&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,938)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,888&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,917)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">901&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(625)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(868)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,211</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25,355)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(131)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in goodwill assigned to each Group segment was as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:23.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.738%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">695&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">457&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,152</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">805</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,471</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.169%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.869%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,299&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(172)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,044</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">297</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(353)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(416)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(50)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about intangible assets. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the reconciliation of changes in intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Assets [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794058112">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IntangibleAssetsAbstract', window );"><strong>Intangible Assets [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory', window );">Schedule of Goodwill by Group Segment</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated amortization and impairment losses of intangible assets at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,837&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(164)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,550&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,344)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,368)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">944&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(681)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">870&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(829)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(28,345)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(188)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,017</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.522%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Intangible assets</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Service concession arrangements and licenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,007)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,328&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,442&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,938)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,494&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Customer base</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,888&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,917)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">971&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trademarks</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">901&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(625)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">910&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(868)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets in process</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">614&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total intangible assets</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37,211</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25,355)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(131)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in goodwill assigned to each Group segment was as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:23.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.734%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.738%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">695&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">457&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,152</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">805</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,471</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.169%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.869%"/><td style="width:0.1%"/></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Write-offs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate impact</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,299&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,258&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,558&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(172)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,166&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">398&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,044</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">297</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(353)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(416)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(50)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory', window );">Schedule of Allocation of Goodwill to the Different Cash-Generating Units (CGUs)</a></td>
<td class="text">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: <table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:45.020%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.839%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.841%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,752</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,278</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,386</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,386</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,215</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,166</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">154&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">137&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">652&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">265&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">239&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others T. Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">827</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">398</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">110&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,471</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,519</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:29.163%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.297%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.446%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Discount rate in local currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Before tax</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">After-tax</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.0%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.5%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16.4%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.6%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15.2%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.0%</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.0%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.7%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.2%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.2%</span></td></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The perpetuity growth rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:45.020%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.839%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.841%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perpetuity growth rate<br/>in local currency&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5%</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.0%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.1%</span></td></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfAssumptionsUsedInSensitivityAnalysisOfGoodwillImpairmentTableTextBlock', window );">Schedule of Sensitivity to Changes in Assumptions</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test.  For the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:53.139%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.276%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in key assumptions,<br/>In percentage points</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial variables</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discount rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-1</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetuity growth rates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.25</span></div></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.25</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+/-0.5</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788455776">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, Plant and Equipment (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory', window );">Schedule of Property, Plant and Equipment</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Group&#8217;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&#8217; 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: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Years of estimated<br/>useful life</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buildings</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25  &#8211; 40</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5 &#8211;  25</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2  &#8211;  10</span></div></td></tr></table><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition and movements in 2022 and 2021 of the items comprising net "Property, plant and equipment" were as follows:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:14.250%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:7.823%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation<br/>differences and<br/>hyperinflation<br/>adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combina-tions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(216)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,323&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,707)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,908&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">933&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,867&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,353)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,289</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,133)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(63)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(209)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,127</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">37</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,714</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.771%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.186%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.233%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.303%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.116%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Depre-ciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impair-ments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation<br/>differences and<br/>hyperinflation<br/>adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combi-nations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business sale</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,829&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(241)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,676&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,893)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,780&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(297)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">623&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,519&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,769</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,880</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,360)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(66)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(416)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">291</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(383)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Total additions of property, plant and equipment in 2021 amounted to 4,286 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December&#160;31, 2022 and 2021 were as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:34.876%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.909%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,097&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,375)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(81)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,641&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,319&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(72,742)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(412)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,157&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,566)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">576&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,343&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107,916</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(83,683)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(519)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23,714</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:34.876%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.909%"/><td style="width:0.1%"/></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PP&amp;E</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Land and buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,624&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,905)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(68,713)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(314)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture, tools and other items</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,697&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,133)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">552&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PP&amp;E in progress</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,774&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,761&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total&#160;PP&amp;E</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(78,751)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(398)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22,725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793854128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Rights of Use (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RightsofUseAbstract', window );"><strong>Rights of Use [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MovementsofRightsofUseTableTextBlock', window );">Schedule of Movements of Rights of Use</a></td>
<td class="text"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of rights of use in 2022 and 2021 is as follows:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.847%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="display:none"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortization</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combinations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(279)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,402&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,139)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">110&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">596&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(574)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,037&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(72)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">227&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,579</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,448</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,064)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(57)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">282</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,279</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.771%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.116%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sale of the towers division of Telxius</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amorti-zation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Business combina-tions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers and others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">762&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">316&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(191)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,819&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">776&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,096&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,012)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(94)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(40)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,238&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">796&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(382)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(109)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,982</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,979</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,500</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,649)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(221)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(48)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,579</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Total additions of rights of use in 2021 amounted to 2,439 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.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock', window );">Schedule of Gross Cost, Accumulated Depreciation and Impairment Losses of Rights of Use</a></td>
<td class="text"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gross cost and accumulated depreciation of the rights of use at December 31, 2022 and 2021 are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:54.471%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.468%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:10.779%"/><td style="width:0.1%"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rights of use</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,923&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,038)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,053&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,923)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,560&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,523)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,037&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(242)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">227&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,726)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,279</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:54.471%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.468%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:10.779%"/><td style="width:0.1%"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated depreciation</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Rights of use</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on land and natural properties</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,491&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(698)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">793&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on buildings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,214&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,653)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use on plant and machinery</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,003&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(979)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">404&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(203)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total of rights of use</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,112</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,533)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,579</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleofExpensesRelatedtoLeasesandIncomefromSubleasingRightofUseAssetsTableTextBlock', window );">Schedule of Expenses Related to Leases and Income from Subleasing Right-of-Use Assets</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of expenses related to leases included in Supplies and Other expenses (see Note 3.g) of the consolidated income statement for 2022 and 2021 are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.321%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.690%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term leases included in operating results as supplies</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Variable lease payments not included in the measurement of lease liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total expenses as supplies</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total lease expenses</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">125</span><span 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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788530576">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Associates and Joint Ventures (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InterestsInOtherEntitiesAbstract', window );"><strong>Interests In Other Entities [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory', window );">Disclosure of Investments Accounted for Using Equity Method</a></td>
<td class="text"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of investments accounted for by the equity method and the share of income/(loss) of these investments is the following:</span></div><div style="width:100.000%"><div style="display:inline-block;vertical-align:top;width:46.491%"><div style="padding-right:141.73pt"><span><br/></span></div></div><div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/><div style="display:inline-block;vertical-align:top;width:46.492%"/></div><div style="padding-right:141.73pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:33.549%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.133%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.138%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Holding</span></td><td colspan="6" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31/12/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31/12/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Ltd</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,779&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Prosegur Alarmas</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestructura e Fibra &#211;tica, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unsere Gr&#252;ne Glasfaser </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(25)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited (nexfibre)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,522</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">230</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(132)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco, S.L. (Nabiax)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20.00&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adquira Espa&#241;a, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo Infraco SpA. (Onnet Fibra Chile)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo HoldCo S.L. (Onnet Fibra Colombia)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Internet para todos S.A.C</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54.67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring do Brasil, Ltda.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Peru, S.A.C.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Colombia, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring M&#233;xico,S.A. de C.V.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Chile, SpA.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Ecuador, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Consumer Finance Colombia SAS</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">312</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">251</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,587</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,773</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">217</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(127)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the movement in investments accounted for by the equity method in 2022 and 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">427</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,329&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other comprehensive income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss) income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,773</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other comprehensive income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(646)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income (loss)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(920)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,587</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfStatementOfFinancialPositionAndIncomeStatementOfJointVenturesTableTextBlock', window );">Disclosure of Statement of Financial Position and Income Statement of Joint Ventures</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Detail of the main items on the statements of financial position and income statements of VMED O2 UK Ltd</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:65.274%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.712%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.714%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non current assets</span></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,280</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">48,779</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,782</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,554</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">555&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">415&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">50,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">52,333</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,840</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,593</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,668&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,185&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">885</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">523&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,786</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,605</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,248&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,317&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,545&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,626</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,198</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity (100% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,436</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,135</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50% Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,718&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,068&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisition costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments accounted for by the equity method</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,779</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,129</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:64.689%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.590%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.421%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">January - December 31 2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 1 - December 31 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,155&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,223&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">551&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">290&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,305)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,063)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,401</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,450</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,170)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,395)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">231</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,020)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(504)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">Realised and unrealised gains on derivative instruments, net </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,567&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign currency transaction losses, net</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,296)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net financial expense</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(355)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result before taxation</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">507</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(300)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Result for the period (100% VMO2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50% attributable to Telef&#243;nica Group</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share of income (loss) of investments accounted for by the equity method</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other comprehensive income (100% VMO2)</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(113)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">VMO2  entered into various derivative instruments to manage interest rate exposure and foreign currency exposure. Generally, VMO2 does not apply hedge accounting to its derivative instruments. Accordingly, changes in the fair values of most of its derivatives are recorded in the finance results of its consolidated income statement.</span></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline">(2) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">Amount related to incentive awards held by certain employees of VMO2 associated with ordinary shares of Liberty Global and Telef&#243;nica. Share-based compensation expense is included in Operating expenses in the consolidated income statement of VMO2.</span></div></td></tr></table></div>The breakdown of the key financial highlights of Movistar Prosegur Alarmas group 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:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:70.976%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.205%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">352&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">224&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(346)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(202)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Purchase price allocation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">146&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">108</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">% Holding</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Group&#8217;s share in equity</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">54</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying amount in the Telef&#243;nica Group</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">252</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">263</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfPurchaseCommitmentsTableTextBlock', window );">Disclosure Of Purchase Commitments</a></td>
<td class="text"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:43.596%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.324%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.324%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.566%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.172%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.718%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.657%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.843%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">154&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,504</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Programming commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">698&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">606&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">446&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">437&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">413&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,804</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Network and connectivity commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,275</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">265&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">266&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,294</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total commitments VMO2 (100%)</span></div></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,054&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">856&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">787&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">617&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">456&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,877</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfBreakdownOfBalancesAndTransactionsRelatedToAssociatesAndJointVenturesRecognizedTableTextBlock', window );">Disclosure of Breakdown of Balances and Transactions Related to Associates and Joint Ventures Recognized</a></td>
<td class="text"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of balances and transactions related to associates and joint ventures recognized with VMO2 in the consolidated statement of financial position and consolidated income statement is as follows:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:74.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.036%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures for current operations </span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures </span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:11pt"><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">130&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfStatementOfFinancialPositionAndIncomeStatementOfAssociatesAndJointVenturesTableTextBlock', window );">Disclosure of Statement of Financial Position and Income Statement of Associates and Joint Ventures</a></td>
<td class="text"><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:22.248%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.675%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.677%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="9" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets from associates and joint ventures</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures  (Note 14)</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term contractual liabilities to associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures (Note 22)</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">272&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term contractual liabilities to associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other short-term liabilities to associates and joint ventures (Note 22)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"/><td style="width:22.611%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.472%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.000%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.558%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.472%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.000%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.558%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.767%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.000%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.562%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associates</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">328&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">255&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">268&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">315&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial revenues with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses with associates and joint ventures</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of investments accounted for using the equity method. [Refer: Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Breakdown Of Balances And Transactions Related To Associates And Joint Ventures Recognized</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Purchase Commitments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Statement Of Financial Position And Income Statement Of Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Statement Of Financial Position And Income Statement Of Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interests in Other Entities [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787681184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory', window );">Schedule of Transactions</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The balances as of December 31, 2022 and 2021, and the transactions carried out in 2022 and 2021 of Telef&#243;nica Group companies with the aforementioned associates and joint ventures in which BBVA and CaixaBank hold interests are shown below:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.765%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.467%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.468%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures for current operations</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures</span></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.467%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.322%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenue from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Expenses from operations with associates and joint ventures</span></td><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance cost from operations with associates and joint ventures</span></td><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr></table><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The impact on the consolidated income statement of the Telef&#243;nica Group of the rest of the operations with BBVA and CaixaBank in 2022 and 2021 is shown below:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BBVA</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receipt of services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Services rendered</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total revenues</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">83</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">53</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline">(1)&#160; </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">At</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%">December 31, 2022, Telef&#243;nica held a 0.73% stake (0.66% stake at December 31, 2021) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 12).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CaixaBank</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receipt of services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchase of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">73</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Services rendered</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of goods</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total revenues</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">122</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">151</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The following table shows the balance sheet positions of these operations as of December 31, 2022 and 2021, as well as the current guarantees and other off-balance sheet positions.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BBVA</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans, capital contributions and others (borrower)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans and capital contributions (lender)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Factoring operations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guarantees</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">147&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:76.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.866%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CaixaBank</span></td><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31,2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans, capital contributions and others (borrower)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">145&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance arrangements: loans and capital contributions (lender)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Factoring operations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guarantees</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">160&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Related Party [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788145792">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Assets and Other Non-current Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfDetailedInformationAboutChangesInNonCurrentFinancialAssetsTableTextBlock', window );">Schedule of Movement in Non-Current Financial Assets</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets and other non-current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:59.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.323%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.570%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other long-term credits </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative financial assets (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,882</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,285</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred expenses (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">854&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">555&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term receivables for taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">299&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">324&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,347</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in investments, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2022 and 2021, is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:31.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.212%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other long-term credits</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deposits and guarantees</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term receivables for subleases</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment of trade receivables</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">457</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">252</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,633</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">551</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(122)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">686&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">540&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(272)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments and financial updates</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(561)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(65)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">479</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">890</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">752</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">503&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">616&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(74)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(94)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments and financial updates</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(197)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/22</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">497</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">981</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(128)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Detailed Information About Changes In Non-Current Financial Assets [Table Text Block]</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793840608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InventoriesAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureofdetailedinformationaboutinventoryTableTextBlock', window );">Schedule of Inventories</a></td>
<td class="text"><div style="margin-bottom:7pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of inventories of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows: </span></div><div style="margin-bottom:7pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:56.733%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.983%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.984%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audiovisual rights</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">823&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,131&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mobile terminals and other equipments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">701&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">584&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other inventories</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories impairment provision</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Inventories</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,546</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,749</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"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).</span></div><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of detailed information about inventory [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inventories [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794067216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Receivables and Other Current Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureofReceivablesandOtherCurrentAssetsTableTextBlock', window );">Schedule of Receivables and Other Current Assets</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of receivables and other current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:65.225%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.737%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.738%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,903</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,680&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,926&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables from associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">387&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,794</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,384</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capitalized costs (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">714&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">583&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,134</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,287</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfImpairmentOfAssetsExplanatory', window );">Schedule of Impairment of Trade Receivables</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The movement in impairment of trade receivables in 2022 and 2021 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2020</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,549</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inclusion of companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(545)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,531</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Allowances</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">613&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts applied</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(397)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment provision at December 31, 2022</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,891</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory', window );">Schedule of Accounts Receivable Balances</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2022 and 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:41.066%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.687%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.566%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.784%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.397%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unbilled receivables</span></td><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,495&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,316&#160;</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</span></td><td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amount not overdue invoiced</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,011&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,976&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(114)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less than 90 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,024&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(160)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">893&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(141)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 90 and 180 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">347&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">333&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(125)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Between 180 and 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">534&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(381)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(306)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">More than 360 days</span></td><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,269&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,037)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,992&#160;</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,829)</span></td><td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,680</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,891)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,926</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,531)</span></td><td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of trade and other receivables. [Refer: Trade and other receivables]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799980032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Current Financial Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfOtherCurrentFinancialAssetsTableTextBlock', window );">Schedule of Other Current Financial Assets</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of other financial assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:59.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.323%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.570%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term credits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,306&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">439&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">760&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term derivative financial assets (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">712&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">995&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">774&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,444</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,835</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794039968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Breakdown of Financial Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsExplanatory', window );">Schedule of Breakdown of Financial Assets</a></td>
<td class="text">Financial assets and other non-current assets <div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets and other non-current assets of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:59.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.323%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.570%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 16)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other long-term credits </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative financial assets (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,882</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,285</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred expenses (Note 23)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">854&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">555&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term receivables for taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">299&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prepayments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">324&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">222&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,347</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Non-current financial assets </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in investments, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2022 and 2021, is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:31.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.212%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Investments</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other long-term credits</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deposits and guarantees</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trade receivables</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term receivables for subleases</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impairment of trade receivables</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">457</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">252</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,633</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">551</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(122)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">686&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">540&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(272)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments and financial updates</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(561)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(65)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">479</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">890</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">752</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">503&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">616&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(74)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(94)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments and financial updates</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(197)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/22</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">497</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">981</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(128)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Investments </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Investments&#8221; includes the fair value of investments in companies where Telef&#243;nica exercises no significant influence or control and for which there is no specific short-term disposal plan (see Note 3.i).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Telef&#243;nica Group&#8217;s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounted to 249 million euros (232 million euros at December&#160;31, 2021), representing 0.73% of its share capital at December&#160;31, 2022 (0.66% at December 31, 2021).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December&#160;31, 2022, Telef&#243;nica maintained a 0.59% stake in the share capital of China Unicom (Hong Kong) Limited, valued at 105 million euros (same percentage at December&#160;31, 2021, valued at 80 million euros).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 19, 2022 Telef&#243;nica signed an agreement with the company Global Alconaba, S.L., for the sale of 50,147,058 shares of Promotora de Informaciones, S.A. (PRISA), equivalent to 7.076% of its share capital. As a result of this sale, 71 million euros of losses from financial assets measured at fair value through comprehensive income have been reclassified to retained earnings. As of December 31, 2022 Telef&#243;nica's shareholding in PRISA amounted to 1.87% of the company's share capital and was valued at 4 million euros (9.03% at December 31, 2021 valued at 36 million euros). </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other long-term credits  </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This line item includes long-term financial assets of Telef&#243;nica Germany amounting to 104 million euros and 85 million euros at December 31, 2022 and 2021, respectively, that are mainly intended to cover obligations from the defined benefit plan of Telef&#243;nica Germany but do not represent "plan assets" in accordance with IAS 19 (see Note 24).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions for the year 2022 include financial instruments (Federal Treasury Certificates) of Pegaso PCS, S.A. de C.V. amounting to 260 million euros, for the purpose of securing certain legal proceedings with the Mexican tax Administration Service. These instruments are classified as long-term based on the estimated term of the proceedings and accrue interest according to the time elapsed (see Note 28).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, additions for the year 2022 include 82 million euros of loans granted by Colombia Telecomunicaciones, S.A. ESP BIC to the associate company &#193;lamo Holdco, S.L. (see Note 10).</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 other long-term credits include 75 million euros corresponding to the subordinated debt granted by Telef&#243;nica Chile to the associate company HoldCo Infraco, SpA. generated by the sale of 40% of the fiber optic business (87 million euros as of December 31, 2021, see Note 10).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" in 2021 included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire") deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of 1,000 million dollars of which 295 million euros are registered as "Other long-term credits" and 591 million euros were registered as "other current financial assets". Transfers for the year 2022 include the short-term transfer of the notes mentioned above for an amount of 313 million euros, all of which were registered at December 31, 2022 in "Other current financial assets" for an amount of 939 million euros (see Note 15).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally in 2021, Telxius recorded additions amounting to 246 million euros associated with the collection right arising with </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">American Tower Corporation as a result of the sale of the telecommunications towers division in Europe (Spain and Germany) in June 2021. At December 31, 2022 the collection right amounted to 264 million euros.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Deposits and guarantees</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil has non-current judicial deposits amounting to 501 million euros (see Note 24) at December 31, 2022 (431 million euros at December 31, 2021).   </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022, there were deposits related to the collateral guarantees on derivatives (CSA) signed by Telef&#243;nica, S.A. and its counterparties for the credit risk management of derivatives amounting to 365</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> million euros of which </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42 million euros cross currency swap (564 million euros at December 31, 2021 that included 279 million euros related to cross currency swap).    </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In relation with collateral contracts, in 2022 there is an additional guarantee of 79,034</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> b</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">onds issued by Telef&#243;nica Emisiones, S.A.U. deposited in a securities account owned by Telef&#243;nica, S.A. with a notional of 78 million euros at December 31, 2022 (166,678 bonds for a nominal amount of 173 million euros at December 31, 2021).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Trade receivables</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Additions" for the year in 2022 include trade receivables amounting to 69 million euros from Colombia Telecomunicaciones, S.A. ESP BIC to the associate Onnet Fibra Colombia SAS, 59 million euros at December 31, 2022, see Note 10.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2022 includes Telef&#243;nica Germany trade receivables at fair value through other comprehensive income for an amount of 292 million euros (269 million euros as of December 31, 2021, see Note 16).</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2022 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:14.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.351%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.844%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.503%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">323</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,404</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">464</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">11</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">465&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">390&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">896&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">981&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,404&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,668&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">727&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,019&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">405</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">833</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">466</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">181</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,513</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">15,325</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,029</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">792&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,439&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10,231&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,340&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,891)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">721&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,444&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">7,245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">728</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,183</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">465</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">645</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">4,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">18,002</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">23,248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial assets of the Telef&#243;nica Group at December&#160;31, 2021 was as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.257%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.524%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.358%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Fair value through other comprehensive income</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debt instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity instru-ments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amortized cost</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current financial assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">506</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,301</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,148</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">2,534</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">6,062</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">452&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">372&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Credits and other financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">882&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">890&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deposits and guarantees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,254&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">471&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,301&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,772&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">483&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">640&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables for subleases</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(112)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current financial assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">218</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">956</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">908</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">160</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,923</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">17,235</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,318</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade receivables (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">917&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">918&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">8,516&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">9,434&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">6,903&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment of trade receivables (Note 14)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">(2,531)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d6d6d6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets (Note 15)</span></td><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">908&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">160&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">1,005&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">2,670&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">3,835&#160;</span></td><td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">8,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">724</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">1,225</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">3,209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">540</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">5,071</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">19,769</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">25,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798910512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareCapitalReservesAndOtherEquityInterestAbstract', window );"><strong>Share Capital, Reserves And Other Equity Interest [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DistributionofProfitTableTextBlock', window );">Schedule of Proposed Distribution of Profit</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s Board of Directors will submit the following proposed distribution of 2022 results for approval at the Shareholders&#8217; Meeting:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal reserve</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unrestricted reserves</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(880)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(880)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSubordinatedLiabilitiesExplanatory', window );">Schedule of Subordinated Securities</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.856%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.052%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.030%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Issue date</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Annual&#160;<br/>Fix&#160;&#160;&#160;&#160;&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Variable</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exercisable by issuer</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tender Offer</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount repurchased</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Redemption</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/23/2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.125&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 11/23/28 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/24/2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/24/28 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2/12/2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (2)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.376&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/12/29 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2/5/2020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.502&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 05/05/27 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/24/2019</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 09/24/27 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/14/2019</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 03/14/25 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,300&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,300&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:36pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/22/2018</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 12/04/23 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(74)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:38pt"><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 09/22/26 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2026</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/07/2017</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.625&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 06/07/23 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">676&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">676&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(547)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(129)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2014</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">from 03/31/24 rate SWAP + spread incremental</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,550</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Green undated deeply subrodinated securities (see Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Sustanible undated deeply subordinated securities (see Nota 29.d)</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTranslationDifferencesTableTextBlock', window );">Schedule of Breakdown of Accumulated Contribution of Translation Differences</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the accumulated contribution of translation differences attributable to equity holders of the parent at December 31 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,031)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,292)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,365)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pound sterling</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(322)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">309&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,344)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Venezuelan bolivar</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,734)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,755)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,754)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentine peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,364)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,702)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,178)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,272)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,452)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,339)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20,723)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(21,892)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25,980)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasuryShareInstrumentsTableTextBlock', window );">Schedule of Treasury Share Instruments</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica, S.A. held the following treasury shares at December&#160;31, 2022, 2021 and 2020: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:34.478%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.541%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.516%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.784%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.786%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros per share</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition price</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading price</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Market value </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/22</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85,217,621&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.00&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.39&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.476&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139,329,370&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.92&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.411&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury shares at 12/31/20</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98,231,380&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.84&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.25&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.777&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Millions of euros.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following transactions involving treasury shares were carried out in 2022, 2021 and 2020:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:76.791%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.009%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/19</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77,562,635</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68,640,303&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,252,817&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,118,898)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(51,105,477)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/20</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">98,231,380</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122,032,764&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,291,518&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,329,826)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(82,896,466)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/21</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">139,329,370</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,403,530&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Scrip dividend</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">563,415&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee share option plan</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,391,956)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital reduction</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(139,275,057)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sales</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(411,681)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Treasury shares at 12/31/22</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">85,217,621</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfEquityAttributableToNoncontrollingInterestTableTextBlock', window );">Schedule of Equity Attributable to Non-Controlling Interests</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;Equity attributable to non-controlling interests&#8221; 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:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:20.422%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span id="i9f2959ad79be455a9c5930d238bb2be3_0-4-1-1-510442"/><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Profit/(loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in translation differences</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/22</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(241)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">425&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,399&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,353&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(161)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,237&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones, S.A., ESP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">409&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">546&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">599&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(178)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(411)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">308</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">393</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,620</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:20.422%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Profit/(loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in translation differences</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/21</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(236)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,346&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(56)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(165)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">218&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,353&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones, S.A., ESP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">409&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,645)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">546&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,025</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(119)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,051)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:20.422%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.466%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/19</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sales of non-controlling interests and inclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisitions of non-controlling interests and exclusion of companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Profit/(loss) for the year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in translation differences</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/20</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,442&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(272)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,296)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(156)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,346&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones, S.A., ESP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">526&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(67)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">681&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">323&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,089&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,332</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">321</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(516)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">375</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,435)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(49)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,025</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfCondensedFinancialStatementsTableTextBlock', window );">Schedule of Condensed Financial Statements of Non-controlling Interests</a></td>
<td class="text"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 Telef&#243;nica Group with non-controlling interests, namely Telef&#243;nica Brazil and Telef&#243;nica Germany. The detail of these figures for Colombia Telecomunicaciones and Telxius Telecom is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,517&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,312&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">569&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">413&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">438&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(308)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(314)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(325)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital Expenditure</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">151&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">156&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,530&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,696&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,725&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,001&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,878&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,049&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.619%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.620%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">826&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">OIBDA</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">218&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,332&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(72)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(269)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,260&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital Expenditure</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">348&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed Assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">507&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">475&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">452&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,129&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,083&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,840&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total allocated liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,163&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,225&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,785&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureofSubsidiariesCashFlowTableTextBlock', window );">Schedule of Subsidiary Cash Flows</a></td>
<td class="text"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The statements of cash flows of these companies are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,678&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,949&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,517&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,741)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,295)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,238)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,674)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,467)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,817)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(737)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">187</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">462</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,732&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,407&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,386&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,608)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(875)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(459)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow used in financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,339)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,820)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,342)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(215)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(288)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">585</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">180&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) investing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(153)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(189)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by (used in) financing activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(225)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(218)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(27)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">45</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:62.589%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.639%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(627)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of subordinated liabilities. [Refer: Subordinated liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Paragraph (a)<br> -Subsection 04<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Equity Attributable To Noncontrolling Interest [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share capital, reserves and other equity interest [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489808506096">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities', window );">Schedule of Maturity of Debentures and Bonds</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial liabilities at December&#160;31, 2022 and the corresponding maturities schedule is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:30.177%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.982%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures and bonds</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,948&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,126&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,170&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,796&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,320&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Promissory notes &amp; commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">355&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,257</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,180</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,110</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,173</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,955</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32,167</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">673&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">572&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">376&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,360&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,010</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,817</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,421</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,069</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,742</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">35,059</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail and key features of outstanding debentures and bonds at December 31, 2022 are as follows (in millions of euros):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:30.249%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.994%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">T. EUROPE BV SEP_00 BOND GLOBAL D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TEBV FEB_03 EMTN FIXED TRANCHE B</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Europe, B.V.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2013</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.987&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2019 (1)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.069&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.528&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.495&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN O2 GBP </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.103&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY  2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.715&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.788&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN GBP 10/08/2029 400 GBP</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.445&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:34.894%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.349%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies (cont.)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2014</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.932&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.664&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2022 (2)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.930&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.807&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JUNE 06 TRANCHE D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.045&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.665&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.957&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.895&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES DECEMBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,399</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,193</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Telef&#243;nica, S.A. and its instrumental companies</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,047</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,841</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr style="height:21pt"><td colspan="30" style="border-top:2pt solid #969696;padding:0 1pt"/></tr></table><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:30.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.450%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.928%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.755%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.283%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Foreign operators</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="18" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond F</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond O</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond Q</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond 144 A</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">468</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">759</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie A)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.6250%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 2.8750%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (37th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1250%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie C)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1875%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (17th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.0938%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.656&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.188&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (15th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.469&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (16th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Private Program (1st Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Program International Issue (1sr Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica del&#160;Per&#250;, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">62</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">164</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">679</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.12%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.35%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BOND R144-A</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.950&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond A5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.650&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond C10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">IPC + 3.39%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A, ESP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">499</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">567</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">O2 Telef&#243;nica Deutschland Finanzierungs, GmbH</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds Foreign operators</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">200</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">258</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">523</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,032</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,178</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and green bonds (See Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29.d)</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesExplanatory', window );">Schedule of Financial Liabilities</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of the financial liabilities by category at December&#160;31, 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:19.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.702%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities at amortized cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,167&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,167&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,314&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,514&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">973&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,395&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total financial liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">973</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,395</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,368</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36,711</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">36,196</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:20.976%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.940%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.263%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value through profit or loss</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Measurement hierarchy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Held for trading</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value option</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hedges</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 1 (Quoted prices)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 2 (Other directly observable market inputs)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Level 3 (Inputs not based on observable market data)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities at amortized cost</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total fair value</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,412&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,656&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">524&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,670&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,188&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,194&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,194&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total financial liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">524</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,670</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,188</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">40,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42,295</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,262</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfReconciliationOfChangesInFinancialLiabilitiesTableTextBlock', window );">Schedule of Reconciliation of Changes in Financial Liabilities</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in issues, promissory notes, commercial paper, loans and other payables in 2022 and 2021 arising from financial activities is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.636%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.572%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.911%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.771%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash used in financing activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash received</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash paid</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and exchange gains and losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial updates<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,920&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,746&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,541)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">724&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,623)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Promissory notes and commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,488&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(600)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">742&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,802)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">894&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:18.694%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.844%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.949%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.043%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.807%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash used in financing activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash received</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash paid</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and exchange gains and losses</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial updates<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38,749&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">561&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,847)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">889&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(444)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,920&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Promissory notes and commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,042)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,488&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,535&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,120&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,178)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,693&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory', window );">Schedule of Interest-Bearing Debt</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest-bearing debt arranged or repaid in 2022 mainly includes the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:20.664%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.080%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Limit 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Drawndown 2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayment 2022 (million euros)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones S.A. E.S.P.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%">On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main debentures and bonds issued by the Group in 2022 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.440%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nominal (millions)</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Item</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency of issuance</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Coupon</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/05/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/13/2040</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2022</span></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2031</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2027</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,000&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.35% CDI</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2025</span></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.12% CDI</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29. d)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:30.131%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.389%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.017%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.660%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding principal balance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Descriptive name summary</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current limit (millions)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">02/22/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/01/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated (1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">258&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2016</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/18/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/18/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/14/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A. E.S.P.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan (2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/06/2021</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/19/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/17/2020</span></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/29/2023</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.  </span></div>(*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfLoansAndAdvancesToCustomersExplanatory', window );">Schedule of Loans and Advances to Customers</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Loans and other payables&#8221; line by currency at December&#160;31, 2022 and 2021, and the equivalent value of foreign-currency loans in euros, is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:30.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.883%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.883%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.883%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.887%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="12" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance (in millions)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Local Currency</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Euro</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,823&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,148&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,823&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,148&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">U.S. dollar</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">514&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">885&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">481&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">781&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazilian real</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,688&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">225&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">303&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombian peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,402,435&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,399,759&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">310&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexican peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,501&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguayan peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,456&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chilean Peso</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">181,601&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">177,845&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">186&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Group</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,544</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,693</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of loans and advances to customers. [Refer: Loans and advances to customers]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfLoansAndAdvancesToCustomersExplanatory</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Reconciliation Of Changes In Financial Liabilities [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788267088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk', window );">Schedule of Sensitivity Analysis</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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%.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.181%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.999%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on the consolidated income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated equity</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">All currencies vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(314)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies vs EUR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(56)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin American currencies vs USD</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(210)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">All currencies vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(10%)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">314</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD vs EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10%)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other currencies vs EUR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin American currencies vs USD</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10%)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:56.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:19.733%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.022%"/><td style="width:0.1%"/></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in basis points (bp)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on consolidated equity</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;+100bp</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;-100bp</span></div></td><td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(61)</span></td><td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory', window );">Disclosure Of Detailed Information About Hedging Instruments</a></td>
<td class="text">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:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:56.502%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.098%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.100%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gross notional in original currency (in millions)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate index/Tenor</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 3M</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,947&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,140&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 1M</span></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD Libor 6M</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfFinancialResultsTableTextBlock', window );">Schedule of Financial Results</a></td>
<td class="text"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of the financial results recognized in 2022, 2021 and 2020 is as follows: </span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.181%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.710%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.999%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">384&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">191&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">894&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">174&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,303</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">379</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">356</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in fair value of asset derivatives at fair value through profit or loss</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">377&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">255&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in fair value of liability derivatives at fair value through profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(861)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(507)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value of debt instruments and other assets at fair value to profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer from equity of results of cash flow hedges - future cash flows that are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss)/Gain on fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,818)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(517)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">563&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain/(loss) on adjustment to items hedged by fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,763&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">527&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(525)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(533)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">118</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(217)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest expenses </span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,548)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,290)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,320)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial expenses on lease liabilities (see Note 20)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(393)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(274)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(193)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ineffective portion of cash flow hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion of provisions and other liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">276&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(169)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(280)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(317)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(137)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(131)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subtotal</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,997)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,911)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,879)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net finance costs excluding foreign exchange differences and hyperinflation adjustments</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,227)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,414)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,740)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfFairValueOfDerivativeInstrumentsAndExpectedMaturityTableTextBlock', window );">Schedule of Derivatives, Fair Value, and Expected Maturity</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of the net position of derivatives during the years ended December 31, 2022 and December 31, 2021 is as follows:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.626%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.036%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.038%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Movement in 2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Movement in 2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Opening balance of assets/(liabilities)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,573</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">715&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financing proceeds</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest (proceeds)/payments</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">283&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(91)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other (proceeds)/payments</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value adjustments through other comprehensive income</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,031&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,733&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with counterparty in the income statement</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,649)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(538)</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393&#160;</span></td><td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Closing balance of assets/(liabilities)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,012</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,573</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of Telef&#243;nica&#8217;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:   </span></div><div><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:26.303%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.643%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.517%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.504%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.504%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.934%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.790%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.933%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional amount - Maturities </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Book value of the derivative and no-derivative instruments </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Later</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments of accounting hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,034)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(77)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,237</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,242</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,404)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(466)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,317</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">78</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,475)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(795)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(123)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,590)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,506)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(211)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(187)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">446</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">57</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,114&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,117&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(26)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(798)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,704)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,623)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(185)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(183)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">438&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,340)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">34</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,284</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,978</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,742)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(213)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">711</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,176)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">744&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,824&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,602&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,742)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(57)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">704&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,065)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">837&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(52)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,921)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,921)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(69)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,543</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,770</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(66)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">160</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(356)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,234&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,461&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(445)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(436)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">309&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">309&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undesignated derivatives</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,964)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(479)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(525)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,363)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,331)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(264)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(246)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">706</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">267</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">463</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of interest rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,539)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(688)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(525)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,363)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,115)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(264)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">631&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">324&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of exchange rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,132)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,132)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(179)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">145&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">707&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">916&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total derivative instruments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,998)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(363)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(602)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(89)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,668)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(712)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,023</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">345</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,012)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivatives instruments of accounting hedges </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">141</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> For interest rate hedges, the positive amount is in terms of "fixed payment.&#8221; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.  </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Positive amounts indicate payables.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Of the hedging instruments that are not derivatives,141 million euros correspond to "Loans and other debts"" (see Note 18). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.862%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.672%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.384%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.520%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.392%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.392%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.825%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.965%"/><td style="width:0.1%"/></tr><tr><td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional amount - Maturities </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Book value of the derivative and no-derivative instruments </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Later</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current asset</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments of accounting hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,020)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(904)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">98</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,805</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,979</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,301)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(908)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,438</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">232</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,539)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(801)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,860)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,599)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(914)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(480)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,368)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,060&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,124&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(24)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(801)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,920)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,723)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(469)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,348)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,021)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,824</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,848</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(131)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,124</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">228</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(24)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">318&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,824&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,193&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(102)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,124&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(128)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,548)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,548)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(62)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(129)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">80</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,841</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,730</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(142)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(297)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">292</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(147)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">189&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,228&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(97)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(104)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(251)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(247)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(498)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(193)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(238)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undesignated derivatives</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,254)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,187)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(303)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,238)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,982)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(471)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">397</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">127</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of interest rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(963)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,283)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(303)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,238)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,787)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(244)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(55)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives of exchange rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(740)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(370)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,110)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(214)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">142&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">449&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">915&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total derivative instruments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,274)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,091)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(205)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,567</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,003)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,772)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(995)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,835</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,573)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivatives instruments of accounting hedges </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">132</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investments hedges</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> For interest rate hedges, the positive amount is in terms of "fixed payment.&#8221; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.   </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(**)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Positive amounts indicate payables. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(***)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Of the hedging instruments that are not derivatives, 132 million euros correspond to "Loans and other debts" (see Note 18).  </span></div>The detail of hedged items by fair value hedges at December 31, 2022 and December 31, 2021 are as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:22.463%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.371%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.526%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.095%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.078%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.518%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.514%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.239%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.526%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.647%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.823%"/><td style="width:0.1%"/></tr><tr><td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Hedged items carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accumulated amount in the hedged item adjusted by fair value hedge </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">250</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">265</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other heading of assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,125</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,295</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,619</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,039</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(88)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(38)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,735&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,454&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,657&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(74)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">387&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">563&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">756&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">759&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and viceversa.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:22.463%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.670%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.095%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.652%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.949%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.239%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.095%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.382%"/><td style="width:0.1%"/></tr><tr><td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Hedged items carrying amount</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accumulated amount in the hedged item adjusted by fair value hedge </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">226</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">226</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other heading of assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,998</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,322</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(23)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">390</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,689</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,987&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">558&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,464&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,309&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,504&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">541&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">624&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> 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.</span><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolutions of hedges in equity at December 31, 2022 and December 31, 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:28.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.828%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.108%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.403%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:6.238%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.806%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.954%"/><td style="width:0.1%"/></tr><tr style="height:29pt"><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Gross amount </span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total hedges in equity</span></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gains (losses) of cash flow hedges</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/></tr><tr style="height:38pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate and interest rate risks</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">247</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(170)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,235&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">612&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(743)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #86888c;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,104&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(284)</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">820&#160;</span></td><td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the initial value of hedged item</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(620)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(711)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">181&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(530)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total translation differences</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">210</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">995</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">725</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity for continuing hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">826&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">290&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,087&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(80)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(37)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">210</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(30)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">995</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span><br/></span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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).     </span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:28.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.828%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.108%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.252%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td style="width:0.1%"/><td style="width:0.807%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.403%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:6.238%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.806%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.954%"/><td style="width:0.1%"/></tr><tr style="height:21pt"><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No derivative instruments</span></td><td colspan="3" style="display:none"/><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Gross amount </span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total hedges in equity</span></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Gains (losses) of cash flow hedges</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/><td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No Derivatives - Net investment hedges</span></td><td colspan="3" style="display:none"/></tr><tr style="height:38pt"><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate and interest rate risks</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(154)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(443)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(523)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,061</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">941</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(295)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">646</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,473&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">445&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(353)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,594&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(396)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,198&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the initial value of hedged item</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(782)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(188)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(962)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,884)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,406)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total translation differences</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #dbdbdb;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">247</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(170)</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">437</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity for continuing hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">211&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(184)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">705&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">720&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</span></td><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(113)</span></td><td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(70)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">247</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(270)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolution of cost of hedging in equity in 2022 and 2021 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:42.209%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.158%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.842%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.130%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.161%"/><td style="width:0.1%"/></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total gross amount<br/></span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax effect <br/></span></td><td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total cost of hedging in equity<br/></span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Forward element /CBS</span></td></tr><tr style="height:21pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">A time - period related hedge item</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(75)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(75)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(56)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in the fair value registered in equity</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfer to the income statement of the period - the hedged item has affected profit or loss</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(25)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The details of the ineffective portion of accounting hedges with impact on the income statement in 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.147%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.963%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.813%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.677%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in fair value of the hedging instrument</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in the fair value of hedges item for the hedged risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ineffective portion hedged registered in the income statement</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,257)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,238)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,292)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,273)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,108&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,108&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investment hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,116)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,116)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">462</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">475</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">475&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(803)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(771)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(32)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.147%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.963%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.813%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.677%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in fair value of the hedging instrument</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Changes in the fair value of hedges item for the hedged risk</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ineffective portion hedged registered in the income statement</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(142)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(143)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fair value hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">994</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,510&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,544&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net investment hedges</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(550)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(550)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate and exchange rate risk</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">412</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">418</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash flow hedges</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">412&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">418&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,230</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about hedging instruments. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24A&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>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]]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787962208">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Lease Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evolution of lease liabilities in 2022 and 2021 were as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.203%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,070</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,487&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal and interests payments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,361)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments (Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,996)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interests payments (Note 28)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(365)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued interests</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">393&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">246&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(223)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.203%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.597%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,294</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,030</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of the towers division of Telxius</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,650</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal and interests payments</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,859)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Principal payments (Note 28)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,782)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interests payments (Note 28)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(246)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Minus: Payments of companies held for sale and sold companies during 2021</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(288)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued interests </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">259</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers and others</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59)</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,070</span></td></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Total accrued interests in 2021 amounted to 274 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 19).</span><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory', window );">Schedule of Maturity of Lease Liabilities</a></td>
<td class="text"><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The maturity schedule of lease liabilities at December 31, 2022 is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.848%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.600%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.600%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.436%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></div></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-Current</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current total</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,107</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,700</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,413</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,064</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">851</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,173</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,201</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,308</span></td></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 97<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_97&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The explanation of the difference between: (a) operating lease commitments disclosed applying IAS 17 at the end of the annual reporting period immediately preceding the date of initial application of IFRS 16, discounted using the incremental borrowing rate at the date of initial application; and (b) lease liabilities recognised in the statement of financial position at the date of initial application of IFRS 16. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph C12<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_C12_b&amp;doctype=Appendix&amp;subtype=C<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of leases [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798959184">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Non-current Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoftheCompositionofPayablesandOtherNonCurrentLiabilitiesTableTextBlock', window );">Schedule of Composition of Payables and Other Non-Current Liabilities</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of &#8220;Payables and other non-current liabilities&#8221; of the Telef&#243;nica Group at December 31, 2022 and December 31, 2021 is as follows:  </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:71.627%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,914</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,733</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">463&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables for spectrum acquisition</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,293&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,361&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other non-current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,632</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,356</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities (Note 23)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred revenue</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current tax payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">542&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">310&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,546</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,089</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleOfNonCurrentPortionOfLongTermDebtTableTextBlock', window );">Schedule of Non-Current Portion of Long Term Debt</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Non-currrent debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:71.627%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Colombia </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">243&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">292&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">990&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,293</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,361</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule Of Non-Current Portion Of Long Term Debt</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788487568">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Current Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleOfCompositionOfPayablesAndOtherCurrentLiabilitiesTableTextBlock', window );">Schedule of Composition of Payables and Other Current Liabilities</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The composition of &#8220;Payables and other current liabilities&#8221; at December 31, 2022 and December 31, 2021 is as follows:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,018</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,872</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade payables</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,545&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,982&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to suppliers of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,841&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,752&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables for spectrum acquisition</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">248&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">569&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,088&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">997&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends pending payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">228&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables to associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">93&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,491</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,338</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contract liabilities (Note 23)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,038&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">958&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred revenue </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">102&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Advances received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">265&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities to associates and joint ventures (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,509</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,210</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/></tr></table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleOfCurrentPortionOfLongTermDebtTableTextBlock', window );">Schedule Of Current Portion Of Long Term Debt</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Current debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:71.627%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Colombia </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">434&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">248</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">569</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCurrentOtherPayablesTableTextBlock', window );">Schedule of Current Other Payables</a></td>
<td class="text">The composition of current "Other payables" at December&#160;31, 2022 and December&#160;31, 2021 is as follows:<span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:41.798%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.450%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.452%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued employee benefits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">608&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">516&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-financial non-trade payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">480&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">481&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></div></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,088</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">997</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfAveragePaymentPeriodToSuppliersTableTextBlock', window );">Schedule of Average Payment Period to Suppliers</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with the aforementioned Law 15/2010, the following information corresponding to the Spanish companies of the Telef&#243;nica Group is disclosed:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:56.147%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.129%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.424%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of days</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Weighted average maturity period</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">53</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">54</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of payments</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ratio of outstanding invoices</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,362&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,671&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Outstanding invoices</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,251&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,264</span></td></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleOfChangesInProvisionLaw182022TableTextBlock', window );">Schedule of Changes in Provision Law 18/2022</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 19, 2022, Law 18/2022, of September 28, on the creation and growth of companies, came into force, which modifies the third additional provision of Law 15/2010. The new standard establishes the obligation to publish in annual accounts, in addition to the information already required, the monetary volume and number of invoices paid in a period less than the maximum established in the late payment regulations, and the percentage they represent of the total number of invoices and on the total monetary payments to your suppliers. This information for the 2022 financial year is shown below:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:77.701%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:20.099%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monetary volume of invoices paid in a period less than the maximum established in the regulations (millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,899</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage of total payments</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">59</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of invoices paid in a period less than the maximum established in the regulations</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">157,523</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage of the total number of invoices paid</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">54</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%</span></td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of Changes in Provision Law 18/2022</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule Of Composition Of Payables And Other Current Liabilities [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule Of Current Portion Of Long Term Debt</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793939760">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Breakdown of Contractual Assets and Liabilities, and Capitalized Costs (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RevenueFromContractsWithCustomersAbstract', window );"><strong>Revenue From Contracts With Customers [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory', window );">Movement of contractual assets and contractual liabilities</a></td>
<td class="text"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of contractual assets and capitalized costs in 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021 is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:36.034%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:9.430%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term contractual assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">261</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(12)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(100)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">261&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term contractual assets (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">294</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(337)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">195</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">295&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(340)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">342</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">555</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(349)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">554</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:28.432%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.128%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:11.036%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Long-term contractual assets (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">145</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">113</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(49)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">209</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">146&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(49)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term contractual assets (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">180</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(198)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">48</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">133</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">182&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(201)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">249</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">293</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(198)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">342</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of contractual liabilities of contracts with customers in 2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and 2021 is as follows: </span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.487%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.056%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.347%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.347%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.400%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.365%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.368%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (previous years)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (current year)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term contractual liabilities (Note 21)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(242)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">891&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term contractual liabilities (Note 22)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">958&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,546&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(984)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,756)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">236&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,038&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,787</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,846</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(986)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,756)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,929</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:16.590%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.718%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.283%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (previous years)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals (current year)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term contractual liabilities (Note 21)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">762&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">270&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(206)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Short-term contractual liabilities (Note 22)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">976&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,182&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(725)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,694)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">958&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,738</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,452</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(729)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,705)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,787</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersExplanatory', window );">Movement of deferred expenses</a></td>
<td class="text"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement of the deferred expenses in 2021 and 2020 is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:25.654%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.430%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current capitalized costs (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">555</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">820</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(547)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">854</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">371&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">671&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(447)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">610&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">149&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">244&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current capitalized costs (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">668</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">630</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(987)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">547</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">885</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">537&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">509&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(801)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">448&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">710&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(186)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,450</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(989)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,739</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:21.122%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.788%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.303%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.015%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Disposals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Transfers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other movements</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current capitalized costs (Note 12)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">331</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">631</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(401)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">555</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">212&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">496&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(334)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">371&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(67)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current capitalized costs (Note 14)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">580</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">489</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(799)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">400</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">668</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of obtaining a contract</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">388&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(653)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">333&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">537&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Of fulfilling a contract</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(146)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Impairment losses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">911</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,120</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(799)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsExplanatory', window );">Maturity schedule of contractual liabilities</a></td>
<td class="text"><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The maturity schedule of contractual liabilities at December 31, 2022 is as follows: </span></div><div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:45.234%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.776%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.780%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, activation fees</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, sales of prepay cards</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">524&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">524&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">477&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, sales of handsets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, sales of other equipments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Contractual liabilities, irrevocable rights to use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">69&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">421&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other contractual liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">217&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity of performance obligations</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,038</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">110</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">606</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,929</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of assets recognised from the costs to obtain or fulfil contracts with customers.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 128<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_128_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the transaction price allocated to the remaining performance obligations in contracts with customers.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 120<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_120_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The explanation of the significant changes in the contract assets and the contract liabilities. [Refer: Contract assets; Contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue From Contracts With Customers [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793255072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EmployeeBenefitsAbstract', window );"><strong>Employee Benefits [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfAmountsOfProvisionsTableTextBlock', window );">Schedule of Amounts of Provisions</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amounts of provisions in 2022 and 2021 are as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:25.107%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.198%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.203%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Employee benefits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">885</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,093</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,978</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,003</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,395</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,398</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Termination plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">135&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">241&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">376&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">254&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">374&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">628&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Post-employment defined benefit plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">329&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">338&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other benefits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">741&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,523&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,264&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">741&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,621&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,362&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">502</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">528</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">552</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">577</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">720</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,910</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,630</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">413</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,715</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,128</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,631</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,505</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,136</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,441</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,662</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,103</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DistributionbySegmentofRestructuringCostsTableTextBlock', window );">Schedule of Distribution by Segment of Restructuring Costs</a></td>
<td class="text">The distribution by segment of the restructuring costs, in terms of their impact on operating income, is as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:74.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.052%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.053%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain </span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,382&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">174&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">179</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,663</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfChangesInProvisionForPostEmploymentPlansTableTextBlock', window );">Schedule of Movement in Provisions for Post-Employment Plans</a></td>
<td class="text"><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in provisions for termination plans in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">785</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">249&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(409)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences, hyperinflation adjustments and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(311)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers </span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences, hyperinflation adjustments and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Provisions for termination plans at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">376</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory', window );">Schedule of Main Data of Defined Benefit Plans</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.993%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.083%"/><td style="width:0.1%"/></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Obligation</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">208&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">622&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">913&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(101)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(751)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(870)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision before asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(129)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">266&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">266&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">137</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">309</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">338&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.993%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.083%"/><td style="width:0.1%"/></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Others</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Obligation</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">322&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">960&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(99)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(660)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(774)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision before asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(111)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">186&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset ceiling</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">223</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">88</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">385</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net provision</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net assets</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory', window );">Schedule of Movement in the Present Value of Obligations</a></td>
<td class="text">The movement in the present value of obligations in 2022 and 2021 is as follows:<span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:39.689%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.743%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Hispam</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2020</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">643</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">74</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,086</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current service cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plan curtailments</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2021</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">322</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">549</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">67</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current service cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest cost</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(123)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plan curtailments</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of obligation at 12/31/2022</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">208</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">622</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">913</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory', window );">Schedule of Movement in the Fair Value of Plan Assets</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Movements in the fair value of plan assets in 2022 and 2021 are as follows:</span><span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:40.420%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.523%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="display:none"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2020</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">693</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">801</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Participants contributions</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2021</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">660</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">774</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Actuarial losses and gains</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company contributions</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Benefits paid</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other movements</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value of plan assets at 12/31/2022</span></td><td colspan="3" style="display:none"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">751</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">870</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedContributionPlansExplanatory', window );">Schedule of post-employment benefit plans</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Telef&#243;nica Brazil sponsors the following post-employment benefit plans: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:43.263%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.859%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:38.578%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Management entity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sponsor</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Plano de Assist&#234;ncia M&#233;dica ao Aposentado y Programa de Coberturas Especiais (PAMA/PCE)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Funda&#231;&#227;o Sistel de Seguridade Social</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#225;s (Telecomunica&#231;&#245;es Brasileiras, S.A.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Assistencia m&#233;dica &#8211; Lei 9.656/98</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, Terra Networks, TGLog and TIS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PBS Assistidos (PBS-A)<br/>&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Funda&#231;&#227;o Sistel de Seguridade Social</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#225;s (Telecomunica&#231;&#245;es Brasileiras, S.A.)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CTB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica BD</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vis&#227;o Prev</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Planes VISAO</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vis&#227;o Prev</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, Terra Networks, TGLog, TIS and Clound Co</span></td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ActuarialAssumptionsUsedInValuingDefinedBenefitPlansTableTextBlock', window );">Schedule of Main Actuarial Assumptions Used in Valuing Plans</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main actuarial assumptions used in valuing these plans are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:60.832%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.226%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.642%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Discount rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.75% - 9.83%</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.56% - 8.78%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Nominal rate of salary increase</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.57% - 6.35%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.32% - 6.09%</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term inflation rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Growth rate for medical costs</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.61&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mortality tables</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AT 2000 M/F</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AT 2000 M/F</span></td></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory', window );">Schedule of Sensitivity to Changes in Actuarial Assumptions</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:17.228%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.785%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.292%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.295%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the discounted obligation at the current discount rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by increasing the discount rate by 0.5%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by reducing the discount rate by 0.5%</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">341&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">286&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total obligation</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">622</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">594</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">653</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr></table></div><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:17.228%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.785%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.292%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:25.295%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation at the current growth rate for medical costs</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by increasing the rate by 1%</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Present value of the obligation by reducing the rate by 1%</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pension plans</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Health plans</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">305&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total obligation</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">622</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">659</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">592</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below shows the sensitivity of the value of termination, post-employment and other obligations, including the Individual Suspension Plans of Telef&#243;nica Group companies in Spain to changes in the discount rate:  </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.900%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">-100 b.p.</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">+100 b.p.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on value</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on income statement</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on value</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Impact on&#160;&#160;income statement</span></td></tr><tr><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(147)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(147)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsExplanatory', window );">Schedule of Movement in Other Provisions</a></td>
<td class="text">The movement of provision for dismantling of assets in 2022 and 2021 is as follows: <div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:70.811%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.989%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">677</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business sale</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">577</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(160)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dismantling of assets at December 31, 2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">528</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">"Business sale&#8221; in 2021 included the second phase of the sale of towers by Telefonica Germany (see Note 2).  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail by segments of provision for dismantling of assets in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"/><td style="width:60.902%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.898%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">323&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">396&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">528</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">577</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movement in &#8220;Other provisions&#8221; in 2022 and 2021 is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,894</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions and accretion</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">795&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(600)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,128</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions and accretion</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">856&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retirements/amount applied</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(646)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Business combinations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">226&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other provisions at December 31, 2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,630</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfProvisionsForTaxProceedingsTableTextBlock', window );">Disclosure of Provisions for Tax Proceedings</a></td>
<td class="text"><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balance of these provisions at December 31, 2022 and December 31, 2021 is shown in the following table:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:61.070%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.814%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.816%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax proceedings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">446&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">340&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Regulatory proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">336&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">314&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Labor claims</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Civil proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">214&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts to be refunded to customers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provision for fines for canceling lease agreements</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,300</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">879</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of provisions for tax proceedings by nature of risk is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:61.070%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.814%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.816%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Federal taxes</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">State taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Municipal taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FUST</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">446</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of changes in provisions for tax proceedings in 2022 and 2021 is as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:70.935%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.865%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">282</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with a counterparty in the income statement</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Write-offs due to payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monetary updating</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">340</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movements with a counterparty in the income statement</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Write-offs due to payment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Monetary updating</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">446</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfProvisionsForJudicialDepositsTableTextBlock', window );">Disclosure of Provisions for Judicial Deposits</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December&#160;31, 2021</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are as follows: </span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:60.888%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.905%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.907%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax proceedings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">280&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Labor claims</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Civil proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">248&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Regulatory proceedings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Garnishments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">607</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">448</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current (see Note 15)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">106&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current (see Note 12)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">501&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">431&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 138<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_138&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDefinedBenefitPlansExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDefinedContributionPlansExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of defined contribution plans. [Refer: Post-employment benefit expense, defined contribution plans]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDefinedContributionPlansExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 142<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_142&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueOfPlanAssetsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 140<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherProvisionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherProvisionsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 145<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_145&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Actuarial Assumptions Used In Valuing Defined Benefit Plans [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Amounts Of Provisions [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Changes In Provision For Post-Employment Plans [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure OF Provisions For Judicial Deposits [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Provisions For Tax Proceedings [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Distribution by Segment of Restructuring Costs [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Employee Benefits [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793870672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Tax Matters (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeTaxesAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory', window );">Schedule of Deferred Taxes Movement</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in deferred taxes in the Telef&#243;nica Group in 2022 and 2021 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,616</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,602</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,080&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">685&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,877)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(400)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company movements and others</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2022</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,884</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deferred tax liabilities</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2020</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,416</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,620</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Additions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">952&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">499&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposals</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,697)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(472)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transfers</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(60)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Translation differences and hyperinflation adjustments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Company movements and others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at December 31, 2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,616</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,602</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated realization of deferred tax assets and liabilities recognized in the consolidated statement of financial position in 2022 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 1 year</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,884&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">749&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,135&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,067&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">296&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,771&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax credits for loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,011&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,639&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unused tax deductions</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">565&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">903&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets for temporary differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,308&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,074&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,884&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,616&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The movements in Tax credits for loss carryforwards in the Telef&#243;nica Group in 2022 and 2021 are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:30.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.011%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.864%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.034%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.742%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.452%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location of the company (Millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reversals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perimeter changes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">999</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(600)</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">457</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">778</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">153&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(122)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">810</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin America</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(216)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total tax credits for loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,639</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">278</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(939)</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,011</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:28.768%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.613%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.345%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.201%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Location of the company (Millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Additions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reversals</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Perimeter changes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Translation differences and other</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,283</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(283)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">999</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">813</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(184)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">778</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Latin America</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">645</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">285&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">861</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total tax credits for loss carryforwards</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">435</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(508)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(31)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,639</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Spanish tax group considers that unused tax loss carryforwards in Spain, taking into account tax litigation in which the group is involved, amount </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">to 3,825 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">million euros at December&#160;31, 2022:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 1 year</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax loss carryforwards generated in the tax group</span></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,755</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,755&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax loss carryforwards generated before consolidation in the tax group</span></td><td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,070</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">143&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,927&#160;</span></td><td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sources of deferred tax assets and liabilities from temporary differences recognized at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">828&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">244&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">473&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Personnel commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,577&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">935&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">817&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories and receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">324&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,049&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,068&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">267&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets for temporary differences</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,205</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets and liabilities offset</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,897)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,536)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax assets for temporary differences registered in the statement of financial position</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,308</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,074</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,970&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,712&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,282&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,204&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Personnel commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">403&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investments in subsidiaries, associates and other shareholdings</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">374&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories and receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,046&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,093&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">833&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">431&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax liabilities for temporary differences</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,964</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets and liabilities offset</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,897)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,536)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total deferred tax liabilities for temporary differences registered in the statement of financial position</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,067</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,602</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTaxReceivablesAndPayablesExplanatory', window );">Schedule of Tax Payables and Receivables</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current tax payables and receivables at December&#160;31, 2022 and 2021 are as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:63.562%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.643%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax payables</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax withholdings</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indirect taxes</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">390&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">476&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Social security</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">163&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income taxes payable</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">957&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,120&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">363&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,920</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,026</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at 12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Tax receivables</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indirect taxes</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">569&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">705&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current income taxes receivable</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,549&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,310&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,213</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,120</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfReconciliationOfAccountingProfitTableTextBlock', window );">Schedule of Reconciliation of Book Profit before Taxes on Taxable Income</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reconciliation between book profit before tax and the income tax expense from continuing operations for 2022, 2021 and 2020 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accounting profit before tax</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,960</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,583</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax expense at prevailing statutory rate</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">797&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,768&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">532&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Permanent differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(793)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,705)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in deferred tax charge due to changes in tax rates</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Capitalization)/reversal of tax deduction and tax relief</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">88&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">225&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(103)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Capitalization)/reversal of loss carryforwards</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">197&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(307)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(88)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Increase/(decrease) in tax expense arising from temporary differences</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other concepts</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">308&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">262&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Corporate income tax</span></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">641</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,378</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">626</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Breakdown of current/deferred tax expense</span></td><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current tax expense</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(218)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">831&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax expense</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">859&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">547&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Corporate income tax</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">641</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,378</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">626</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of tax receivables and payables.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Reconciliation Of Accounting Profit [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Taxes [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788221392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AnalysisOfIncomeAndExpenseAbstract', window );"><strong>Analysis of income and expense [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTheCompositionOfRevenuesTableTextBlock', window );">Schedule of Breakdown of Revenues</a></td>
<td class="text"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of Revenues for the years 2022, 2021 and 2020 is as follows: </span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rendering of services</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,854&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,117&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,394&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sales</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,160&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,682&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,993</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">43,076</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTheCompositionOfOtherIncomeTableTextBlock', window );">Schedule of Breakdown of Other Income</a></td>
<td class="text"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Other income&#8221; is as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Own work capitalized</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">783&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">771&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">873&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of businesses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">205&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,008&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">582&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">270&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on disposal of intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Government grants</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating income</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">396&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,065</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,673</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,587</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTheCompositionOfOtherExpenseTableTextBlock', window );">Schedule of Breakdown of Other Expenses</a></td>
<td class="text">The breakdown of &#8220;Other expenses&#8221; is as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Leases included in "Other expenses" </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,731&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,604&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,617&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Taxes other than income tax</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">834&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">902&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change in trade provisions</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">693&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">660&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">860&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Losses on disposal of fixed assets and changes in provisions for fixed assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill impairment (Note 7)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">416&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">519&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other operating expenses</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">462&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,741</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,976</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,871</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span> Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 9).<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeTableTextBlock', window );">Schedule of Estimated Payments on Operating Leases, Purchases, and Other Contractual Commitments</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:46.929%"><tr><td style="width:1.0%"/><td style="width:37.840%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:59.960%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Purchases and other contractual commitments</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than 1 year</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,991&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1 to 3 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,269&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 to 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">More than 5 years</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,744&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,285</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfNumberOfEmployeesBySegmentTableTextBlock', window );">Schedule of Breakdown of the Telef&#243;nica Group&#8217;s Average Number of Employees by Segment</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below presents the breakdown of the Telef&#243;nica Group&#8217;s average number of employees by fully consolidated segment (see Note 4) in 2022, 2021 and 2020, together with total headcount at December 31 each year. </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.599%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Average</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year-end</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,099&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,947&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,872&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,976&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,992&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,978&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,884&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,501&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,029&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,099&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,056&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,770&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,701&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,275&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,846&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,987&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,343&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,938&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,828&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,232&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,994&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,806&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,717&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,872&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,506&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other companies</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,928&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,765&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,852&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,058&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,109&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,466&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">102,563</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">103,651</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">107,776</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104,150</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">113,182</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">112,797</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfDepreciationAndAmortizationExpenseTableTextBlock', window );">Schedule of Breakdown of Depreciation and Amortization</a></td>
<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of &#8220;Depreciation and amortization&#8221; on the consolidated income statement is as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:51.970%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.543%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.543%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.544%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment (Note 8)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,133&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,360&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,022&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets (Note 6)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,599&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,388&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,735&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use (Note 9)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,064&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,649&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,602&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,796</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,397</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EarningsPerShareExplanatory', window );">Schedule of Earnings Per Share</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Profit attributable to ordinary equity holders of the parent company</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,011&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,137&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,582&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustment for the coupon corresponding to perpetual subordinated obligations</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(279)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(337)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(334)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax effect</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,802</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,884</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,332</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares (thousands)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares for basic earnings per share  (does not include treasury shares)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,740,105&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,864,070&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,952,695&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. plans of rights over shares</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,096&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,590&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares)</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,763,201&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,874,168&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,959,285&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(*) Revised data</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:47.140%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.055%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.350%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Earnings per share (euros)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Basic</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Diluted</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.31&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.34&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of earnings per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of The Composition Of Other Expense [Table Text Block]</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794209392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment Plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedPaymentArrangementsAbstract', window );"><strong>Share-Based Payment Arrangements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory', window );">Schedule of Number and Weighted-Average Exercise Prices of Other Equity Instruments</a></td>
<td class="text">The first cycle commenced in 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 19,425,499 and the outstanding shares at December 31, 2022 was 18,544,534, with the following breakdown: <div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">First cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,712,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,272,267&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,770,200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,417,814&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,942,550&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,854,453&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 15,069,650 and the outstanding shares at December 31, 2022 was 14,969,799, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Second cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,534,825&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,484,899&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.43&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,027,860&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,987,920&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,506,965&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,496,980&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The first cycle commenced in 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 1,751,500 and the outstanding shares at December 31, 2022 was 1,659,500, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">First cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">875,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">829,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700,600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">663,800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175,150&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165,950&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.15&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The second cycle commenced in 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 1,646,500 and the outstanding shares at December 31, 2022 was 1,611,000, with the following breakdown: </span></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:46.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.311%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.164%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.020%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Second cycle</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">No. of shares assigned</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding shares at 12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Unit fair value (euros)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TSR Objective</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">823,250&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">805,500&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.43&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FCF Objective</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">658,600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">644,400&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CO2 E.N. Objective</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164,650&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161,100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.95&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the number and weighted average exercise prices of other equity instruments (ie other than share options).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Payment Arrangements [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788546176">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CashFlowStatementAbstract', window );"><strong>Cash Flow Statement [Abstract]</strong></a></td>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock', window );">Schedule of Operating Activities</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of net cash flow provided by operating activities is the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:67.759%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.280%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.281%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash received from operations</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,925</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,415</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">51,353</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash paid from operations</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34,778)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(34,379)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(36,477)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash paid to suppliers</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,509)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,236)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31,080)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash paid to employees</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,416)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,299)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,434)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments related to cancellation of commitments</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(853)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(844)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(963)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net payments of interest and other financial expenses net of dividends received</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(292)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,309)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,171)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net interest and other financial expenses paid</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,236)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,519)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,193)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends received</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">944&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Taxes proceeds / (payments)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(92)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(459)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(509)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net cash flow provided by operating activities</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,763</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,268</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,196</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCashFlowItemsInvestingActivitiesInvestmentsAndPropertyPlantAndEquipmentAndIntangibleAssetsTableTextBlock', window );">Schedule of Investing Activities: Investments, Property, Plant and Equipment, and Intangible Assets</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following is a detail of the items comprising the net cash flow used in investing activities.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:68.738%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.272%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds from the sale in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">842&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">509&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments on investments in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,350)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,728)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,529)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,508)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,164)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7,020)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCashFlowItemsInvestingActivitiesProceedsOnDisposalsOfCompaniesAndPaymentsOnInvestmentsInCompaniesTableTextBlock', window );">Schedule of Investing Activities: Proceeds on Disposals of Companies and Payments on Investments in Companies</a></td>
<td class="text"><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.538%"><tr><td style="width:1.0%"/><td style="width:66.110%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.027%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.730%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.733%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Constitution of VMO2 </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 2)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(256)</span></td><td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,872&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of Telecommunications towers divisions of Telxius (Note 2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,434&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax associated with the sale of the tower division of Telxius (Note 25)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(917)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of Telef&#243;nica de Costa Rica</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">442&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of InfraCo</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">479&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax associated with the sale of InfraCo</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(124)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sale of fiber assets of Colombia Telecomunicaciones</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred collection sale of T. Ireland</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panama in Telef&#243;nica Centroam&#233;rica Inversiones, S.L.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(115)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,369</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">81</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Oi mobile assets acquisition (Note 2)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(986)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental acquisition (Note 5)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(178)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna acquisition (Note 5)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(328)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cancom acquisition (Note 5)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(374)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Capital increase of UGG TopCo (Note 10)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(79)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payments on investments in companies, net of cash and cash equivalents acquired</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,628)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(414)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(79)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Cash received (see Note 2) less: (i) Cash and cash equivalents of Telefonica UK at the date of its exit from the scope of consolidation, and (ii) payments made in 2021 and 2022  to the O2 UK pension plan and other expenses (see Note 29.c).</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCashFlowItemsInvestingActivitiesProceedsAndPaymentsOnFinancialInvestmentsTableTextBlock', window );">Schedule of Investing Activities: Proceeds and Payments on Financial Investments</a></td>
<td class="text"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"><tr><td style="width:1.0%"/><td style="width:65.714%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.961%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.961%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.964%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Collateral guarantees on derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,891&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,897&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,224&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal deposits</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds on financial investments not included under cash equivalents</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,967</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,308</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Legal deposits</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Collateral guarantees on derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,195)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,228)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,251)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Investment in funds shares of Telef&#243;nica Brasil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Long-term financial instruments of Pegaso PCS (Note 12)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(260)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(116)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(122)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payments on financial investments not included under cash equivalents</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,575)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,474)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,297)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net proceeds/(payments) for temporary financial investments</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,532</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,584)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">217</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCashFlowItemsFinancingActivitiesDividendsPaidProceedsFromIssuanceOfShareCapitalAndOtherOperationsTableTextBlock', window );">Schedule of Financing Activities: Dividends Paid, Proceeds from Issuance of Share Capital, and Other Operations</a></td>
<td class="text"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"><tr><td style="width:1.0%"/><td style="width:65.615%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.945%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.092%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.948%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends paid to the shareholders of Telef&#243;nica, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(959)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(617)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(825)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#244;nica Brasil, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(268)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(198)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(227)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#243;nica Deutschland Holding, A.G.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(161)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(165)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(156)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telef&#243;nica Centroam&#233;rica Inversiones, S.L.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(39)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telxius for the sale of the telecommunications tower divisions (see Note 17.h)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,603)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to non-controlling interests of Telxius Telecom, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(42)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Dividends paid (see Note 17)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,397)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,630)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,296)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share capital increase Pontel and Telxius (see Note 17.h)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">323&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Establishment of Bluevia Fibra (see notes 2 and 17.h)</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,021&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds from share capital increase with minority interests</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,022</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">323</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Own shares purchase of Telef&#243;nica Brasil</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(111)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(78)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Shares purchase of Telef&#243;nica Deutschland</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(51)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Transactions carried out by Telef&#243;nica, S.A. (see Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(365)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(478)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Centroam&#233;rica Inversiones, S.L. share premium (ECPN.) refund related to the sale of T. Guatemala, T. Nicaragua and T. Panama</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(555)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(604)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(223)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of undated deeply subordinated securities (Note 17)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisition of undated deeply subordinated securities (Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(750)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,750)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(385)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payment of undated deeply subordinated securities (Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(808)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payment of the coupon related to the issuances of undated deeply&#160;subordinated securities issued (see Note 17)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(268)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(354)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(327)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Operations with other equity holders</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(268)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(354)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,020)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> 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.</span><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCashFlowItemsFinancingActivitiesProceedsOnIssuanceOfDebenturesAndBondsAndAdditionalInformationTableTextBlock', window );">Schedule of Financing Activities: Proceeds on Issuance of Debentures and Bonds and Additional Information</a></td>
<td class="text"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:66.495%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.897%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.897%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.311%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issued under the EMTN program of Telef&#243;nica Emisiones, S.A.U.&#160;(see Appendix III)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,500&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">535&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of Telef&#243;nica Brasil, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Appendix III)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of Colombia Telecomunicaciones S.A, ESP BIC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds on issue of debentures and bonds, and other debts</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,746</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">561</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,011</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loans of Telef&#243;nica, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">350&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of 750 million euros by Telef&#243;nica Germany GmbH </span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of Telxius Telecom, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loan of Telef&#243;nica Brasil, S.A. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated provision of Bluevia Fibra S.L. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Settlement of nominal value of gross debt hedging derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, ESP BIC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">436&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,135&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,611&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Proceeds on loans, borrowings and promissory notes (see Appendix V)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">839</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,085</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,516</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayments of debentures and bonds, and other debts</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,541)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,847)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6,728)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Telef&#243;nica, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(750)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Colombia Telecomunicaciones, S.A. ESP BIC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(200)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amortization bilateral loans of Colombia Telecomunicaciones, S.A. ESP BIC </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (see Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated amortization by Telxius Telecom, S.A. (see Note 18)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(70)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Settlement of nominal value of amortized debt hedging derivatives</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(715)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(34)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(139)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Others</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,175)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,162)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,713)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayments of loans, borrowings and promissory notes&#160;(see Appendix V)</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(3,077)</span></td><td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4,146)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,852)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Lease principal payments (Note 20)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,996)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,782)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,787)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financed spectrum licenses payments (Note 21)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(549)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(57)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(60)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments for investments in spectrum use licenses financed without explicit interest<br/>(Notes 2 and 21)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to suppliers with extended payment terms</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Note 18)</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(235)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financed operating payments and investments in property, plant and equipment and intangible assets payments </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(698)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(273)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(382)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Data</span><span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span><span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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.</span><span></span>
</td>
</tr>
</table>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CashFlowStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash Flow Statement [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788023744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalInformationAbstract', window );"><strong>Additional information [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAuditorsRemunerationExplanatory', window );">Schedule of Auditors' Fees</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of these amounts is as follows: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:35.942%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.297%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #414b61;padding:0 1pt"/><td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</span></td><td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PwC Auditores, S.L.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other PwC </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">PwC Auditores, S.L.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other PwC </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audit services</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.73&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.98&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18.71&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.39&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.97&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18.36&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audit-related services</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.82&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8.72</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11.35</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20.07</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8.21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11.78</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19.99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfKeyManagementPersonnelCompensationTableTextBlock', window );">Schedule of Key Management Personnel Compensation</a></td>
<td class="text"><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Set forth below are the amounts established in fiscal year 2022 as fixed amounts for belonging to the Board of Directors, the Executive Commission and the Advisory or Control Committees of Telef&#243;nica and the attendance fees for attending meetings of the Advisory or Control Committees of the Board of Directors: </span></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Compensation of the Board of Directors and of the Committees thereof</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:24.706%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.026%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.360%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.508%"/><td style="width:0.1%"/></tr><tr><td colspan="12" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amounts in euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Position</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Board of Directors</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Executive Commission</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Advisory or Control Committees </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chairman</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">240,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vice chairman</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Executive Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proprietary Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Independent Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros.  </span><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TELEF&#211;NICA, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros)</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:25.508%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.765%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.260%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">5</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other items</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">6</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total<br/>&#160;</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,923,100&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,198,897&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,085&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,128,082&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">280,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">337,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,600,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,911,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,514&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,535,714&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter Erskine</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Carmen Garc&#237;a de Andr&#233;s</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233; </span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">277,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162,400&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez</span></td><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,000&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">160,400&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Salary: Regarding Mr Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez and Mr &#193;ngel Vil&#225; Boix, the amount includes the non-variable remuneration earned from their executive functions.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, whether or not it can be consolidated over time, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Short-term variable 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 2022 and to be paid in the year 2023. In reference to the bonus corresponding to 2021, which was paid in 2022, Executive Board Member Mr Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez received 3,807,738 euros and Executive Board Member Mr &#193;ngel Vil&#225; Boix received 2,640,000 euros. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Commission and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. </span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">6</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telef&#243;nica, S.A.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table breaks down the amounts accrued and/or received from other companies of the Telef&#243;nica Group other than Telef&#243;nica, 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: </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OTHER COMPANIES OF THE TELEF&#211;NICA GROUP</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"/><td style="width:27.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.290%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.100%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.608%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.379%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.497%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.803%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">5</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other items</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">6</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">177,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter Erskine</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="border-top:0.5pt solid #929292;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms Carmen Garc&#237;a de Andr&#233;s</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233;</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170,727&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325,727&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez</span></td><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127,957&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127,957&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telef&#243;nica Group for his/her executive functions.  </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 Telef&#243;nica Group. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 2022 and to be paid in the year 2023 by other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Remuneration for belonging to the Board Committees of other companies of the Telef&#243;nica 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 Telef&#243;nica Group, regardless of the effective attendance of the board member such Committee meetings.</span></div>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 Telef&#243;nica Group. Also included are the amounts received for membership of the Advisory Boards of Telef&#243;nica Espa&#241;a, Telef&#243;nica Hispanoam&#233;rica, Telef&#243;nica Tech and Telef&#243;nica Ingenier&#237;a de Seguridad.<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleOfSustainableFinancingTableTextBlock', window );">Schedule of Sustainable Financing</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Overall, as at December 31, 2022, the Group's sustainable financing amounts to 15,956 million euros, broken down as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.326%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:36.474%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sustainable financing</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,842</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior green bond of Telef&#243;nica Emisiones (Appendix III)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Senior sustainable bond of Telef&#243;nica Emisiones (Appendix III)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked bonds of Telef&#243;nica Brazil (Appendix III)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">628&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facilities of Colombia Telecomunicaciones</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">214&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undated deeply subordinated securities (hybrid instruments) (Note 17.c)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Undrawn facilities at December 31, 2022 (Note 18)</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,114</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facility of Telef&#243;nica, S.A.</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked facility of Telefonica Germany</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainability linked bilateral facilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,956</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" 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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794153856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operations Classified as Held for Sale (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of non-current assets and disposal groups held for sale and liabilities associated at December&#160;31, 2022 and December&#160;31, 2021 is as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:52.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.854%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">253</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fiber optic assets in Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current assets and disposal groups held for sale</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">358</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:52.993%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:21.854%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="9" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities associated with non-current assets <br/>and disposal groups held for sale</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">134</span></td></tr></table></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of assets and liabilities of Telef&#243;nica M&#243;viles 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, 2021 was as follows:</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:61.326%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:36.474%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. M&#243;viles El Salvador</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">211</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goodwill</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rights of use</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Financial assets and other non-current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current assets</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">42</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receivables and other current assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tax receivables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other current financial assets</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payable and other non-current liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" 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#bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">71</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current financial liabilities</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current lease liabilities</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payables and other current liabilities</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794108608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix I: Scope of Consolidation (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfConsolidationsAbstract', window );"><strong>Disclosure Of Consolidations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory', window );">Schedule of Main Companies of the Telefonica Group</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below lists the main companies comprising the Telef&#243;nica Group at December 31, 2022 and the main investments consolidated using the equity method.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Included for each company are the company name, corporate purpose, country, functional currency, share capital (in millions of functional currency units), the Telef&#243;nica Group&#8217;s effective shareholding and the company or companies through which the Group holds a stake.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Parent Company</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Telef&#243;nica,S.A.</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U. <br/>Telecommunications service provider</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,024&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Espa&#241;a, S.A.U.<br/>Wireless communications services provider</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">209&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Teleinform&#225;tica y Comunicaciones, S.A.U. (Telyco)<br/>Promotion, marketing and distribution of telephone and telematic equipment and services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Soluciones de Inform&#225;tica y Com. de Espa&#241;a S.A.U.<br/>Telecommunications systems, networks and infrastructure engineering</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Soluciones de Outsourcing, S.A.<br/>Promotion and networks management</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Integrales de Distribuci&#243;n S.A.U.<br/>Logistic service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.<br/>Organization and operation of multimedia service-related business</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">226&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Audiovisuales, S.A.U.<br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Broadcast Services, S.L.U.<br/>DSNG-based transmission and operation services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TBSC Barcelona Producciones, S.L.U. <br/>Provision of audiovisual telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Broadcast Services, S.L.U.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. <br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Technology, S.A.U.<br/>Global management and operation of IT systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Educaci&#243;n Digital, S.L. <br/>Vertical e-learning portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A. (30%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L.  (25%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 Soluciones de Instalacion y Mantenimiento S.L. <br/>Marketing and management in the installation, sale and maintenance of photovoltaic equipment</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,975&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany Holdings Limited (69.22%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (1.36%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG<br/>Wireless communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G (70.57%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">T. Germany Management, GmbH (0.01%)    </span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany (cont.)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">E-Plus Service GmbH<br/>Wireless communications services operator</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany Business Sales GmbH<br/>Technological and consulting services in Big Data provider</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Telef&#243;nica Deutschland Finanzierungs GmbH<br/>Integrated cash management, consulting and financial support for Group companies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.<br/>Wireline telephony operator </span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,571&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L. (36.31%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (37.83%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile, S.A. (0.06%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Brasil, Ltda.<br/>ISP and portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">136&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Infraestructura e Seguran&#231;a Brasil Ltda.<br/>Security services and systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Brasil, Ltda.</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.<br/>Wireline telephony operator </span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,121&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vivo ventures fundo de investimento em participacoes multiestrategia.<br/>Investment funds</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">75.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A. (73.29%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L (2.00%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vita IT Com&#233;rcio e Servi&#231;os de Solu&#231;&#245;es em TI Ltda.<br/>Technical support, maintenance and other IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Infraestructura e Seguran&#231;a Brasil Ltda.</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Venezolana, C.A.<br/>Wireless communications operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Venezuela</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VED</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">394&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (86.72%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Comtel Comunicaciones Telef&#243;nicas, S.A. (2.56%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones S.A. ESP BIC<br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,410&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operaciones Tecnol&#243;gicas y Comerciales S.A.S<br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,330&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones S.A. ESP BIC </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pegaso Pcs S.A. de C.V. <br/>Communications services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (99.95%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Celular de Telefon&#237;a S.A. de CV. (0.05%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks M&#233;xico, S.A. de C.V.<br/>ISP, portal and real-time financial information services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">305&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fisatel M&#233;xico, S.A. de C.V. SOFOM E.N.R.<br/>Integrated cash mangement, consulting and financial support for Group companies</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,505&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A. (99.99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pegaso Pcs S.A. de CV. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Otecel, S.A.<br/>Wireless communications services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">239,296&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Argentina, S.A. (77.64%) </span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L. (22.36%) </span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,201&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.<br/>Wireless communications services operator</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,364,872&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inversiones Telef&#243;nica Internacional Holding SpA. (98.96%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.  (1.04%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile, S.A. <br/>Local and international long distance telephony services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">809,773&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile Holdings, S.L.U.<br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica del Per&#250;, S.A.A.<br/>Local, domestic and international long distance telephone service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98.94&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Media Networks Latin America, S.A.C<br/>Telecommunications research activities and proyects</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">158&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles del Uruguay, S.A.<br/>Wireless communications and services operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Hispanoam&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica , S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra Germany GmbH<br/>Broadband telecommunications operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L.  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica O2 Holdings Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.  (99.99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital S.A. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MmO2 Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica O2 Holding Ltd.</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 International Holdings Ltd.<br/>Holding company</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Europe) Ltd.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Netherlands ) Holdings BV.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 International Holdings Ltd.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Germany Holdings Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,463&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Europe) Ltd.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 (Europe) Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,895&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica International Holding, B.V<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.<br/>Sociedad holding</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">291&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. <br/>International service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Global Solutions USA, Inc.<br/>Provision of telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions Germany GmbH. <br/>International service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions M&#233;xico, S.A. de C.V.<br/>Carrying out research activities and projects in the field of telecommunications</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L.<br/>Developer Telco Services Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Ltd.<br/>Developer Telco Services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.<br/>Talent identification and development in ICT.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Chile Tecnolog&#237;a e Innovaci&#243;n Limitada<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">WY Telecom, S.A. de C.V.<br/>Talent identification and development in ICT</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">173&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Argentina, S.A.<br/>Talent identification and development in ICT</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,133&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L. (95%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (5%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Colombia, S.A.S.<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,304&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proyecto Wayra, C.A.<br/>Commercial, industrial and mercantile activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Venezuela</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VED</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Venezolana, C.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra Per&#250; Aceleradora de Proyectos, S.A.C.<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wayra UK Ltd.<br/>Technological innovation based business project development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Per&#250;, S.A.<br/>ISP and portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Terra Networks Argentina, S.A.<br/>ISP and portal</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ARS</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Latinoam&#233;rica Holding, S.L. (99.99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica International Holding, B.V. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telfisa Global, B.V.<br/>Integrated cash management, consulting and financial support for Group companies </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Activities Holding, B.V.<br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telfisa Global, B.V. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Services, GmbH<br/>Purchasing services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Group 3G UMTS Holding, GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Roaming, GmbH<br/>Optimization of network traffic</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Services, GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Group 3G UMTS Holding GmbH<br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Activities Holdings, B.V</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Compras Electr&#243;nicas, S.L.<br/>Development and provision of information Society services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Services, GmbH </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Iot &amp; Big Data Tech S.A. <br/>Provision of telemarketing services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering S.L.<br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Iot &amp; Big Data Tech S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering  S.A. de C.V. <br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telfin Ireland DAC.<br/>Intragroup financing</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Ingenier&#237;a de Seguridad, S.A.U.<br/>Security services and systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TIS Hispanoam&#233;rica, S.L. <br/>Security services and systems</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital, S.A.U.<br/>Finance company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Lotca Servicios Integrales, S.L.<br/>Aircraft ownership and operation</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A<br/>Administration of pension funds</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fonditel Gesti&#243;n, Soc. Gestora de Instituciones de Inversi&#243;n Colectiva, S.A.<br/>Administration and representation of collective investment schemes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Capital, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Investigaci&#243;n y Desarrollo, S.A.U.<br/>Telecommunications research activities and projects</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Luxembourg Holding, S.&#224;.r.L.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Luxembourg</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Nova Casiopea RE S.A.<br/>Reinsurance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Luxembourg</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Luxembourg Holding, S.&#224;.r.L.</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Seguros y Reaseguros Compa&#241;&#237;a Aseguradora, S.A.U.<br/>Realizaci&#243;n de operaciones de seguros directos</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Luxembourg Holding, S.&#224;.r.L. </span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Finanzas, S.A.U.<br/>Integrated cash management, consulting and financial support for Group companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Corredur&#237;a de Seguros y Reaseguros Compa&#241;&#237;a de Mediaci&#243;n, S.A.<br/>Distribution, promotion or preparation of insurance contracts<br/></span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Finanzas, S.A.U. (TELFISA) (83.33%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (16.67%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Europe, B.V.<br/>Fund raising in capital markets</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Participaciones, S.A.U.<br/>Financial debt instrument issuer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Emisiones, S.A.U.<br/>Financial debt instrument issuer</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alian&#231;a Atl&#226;ntica Holding B.V.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87.4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (50%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A. (37.4%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servi&#231;os Empresariais do BRASIL, Ltda.<br/>Management and administrative services rendered</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Gesti&#243;n Integral de Edificios y Servicios S.L. <br/>Management and administrative services rendered</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tempotel, Empresa de Trabajo Temporal, S.A.<br/>Temporary employment agency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Worldwide Limited<br/>Wireless telecommunications activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Servicios Globales, S.L.<br/>Sociedad Holding</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Holding Atticus, B.V.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;Telef&#243;nica Latinoam&#233;rica Holding, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Soluciones de Criptograf&#237;a, S.A. <br/>Engineering, research and development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Centroam&#233;rica Inversiones ,S.L. <br/>Communications services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L. <br/>Holding Company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL. <br/>Ciberseguridad, seguridad de informaci&#243;n electr&#243;nica y consultor&#237;a inform&#225;tica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Chile SpA.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,301&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Inc.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">iHackLabs Ltd.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Audertis Audit Services S.L. <br/>Provision of audit services in the areas of security, privacy and data protection</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services S.L. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Colombia SAS<br/>Ciberseguridad, seguridad de informaci&#243;n electr&#243;nica y consultor&#237;a inform&#225;tica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">406&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Cybersecurity Tech Mexico, S.A de C.V.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">48&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.<br/></span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Ciberseguran&#231;a e Tecnolog&#237;a do Brasil Ltda <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L. </span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Per&#250; S.A.C <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech S.L.</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Cybersecurity Tech Ecuador Tctech S.A. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Otecel, S.A. (99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions Ecuador TGSE, S.A. (1%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Deutschland GmbH <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acens Technologies, S.L.<br/>Holding housing and telecommunications solutions Service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Altostratus Solutions, S.L. <br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Holdings Limited <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited  <br/>Headquarters activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Holdings Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Managed Services Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited <br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Communication &amp; Collaboration Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ireland Limited<br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ocean Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Redspire Limited<br/>Software development and information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Limited <br/>Information technology consultancy activities and other services activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis BG LTD <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bulgaria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BGN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis India Private Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">India</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">INR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited (99%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited (1%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kumo Analytics Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Managed Services Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration Holding GmbH<br/>Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Accelera Holding</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement GmbH<br/>Holding company</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Germany GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna AB (Sweden)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sweden</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SEK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Boydak Automation AG<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CHF</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna ApS (Denmark)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Denmark</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DKK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna B.V. (Netherlands)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna ApS (Denmark)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Leipzig)<br/>Software production, electronic data processing, consultancy, services and project management</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Germany GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)<br/>Services in automatic data processing and information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pipol A/S<br/>Conduct business with international implementation of business-oriented software solutions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Denmark</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DKK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;A/S (Norway)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Norway</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">NOK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Business Solutions GmbH<br/>Software development and consulting, distribution of corresponding products, systems and processes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Industry Solutions GmbH<br/>Sales, implementation and maintenance of international ERP products</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;AG (Switzerland)<br/>Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CHF</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic d.o.o<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Belgrade (Serbia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Serbia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RSD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Ljubijana (Slovenia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Zagreb (Croatia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Croatia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HRK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pontel Participaciones, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">260&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pontel Participaciones, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A.<br/>Provision of high bandwidth communications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Uruguay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Telecom, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Rep&#250;blica Dominicana, S.A.S.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Republica Dominicana</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (49.51%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (0.5%)</span></div></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A.<br/>Operation and deployment of telecommunications infraestructure</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">78&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (49.98%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (0.03%)</span></div></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Panam&#225;, S.A.<br/>Installation and operation of telecommunications networks for wholesalers</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Panama</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Puerto Rico, Inc.<br/>High capacity optical fibre network communications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Puerto Rico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable USA, Inc.<br/>High bandwidth communications services</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USA</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Ecuador, S.A.<br/>Sale of usage of data transmission capacity via an underwater optical fibre network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ecuador</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Chile, S.A.<br/>Involvement in businesses related to public or private telecommunications services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Guatemala, S.A.<br/>Installation and operation of telecommunications networks for wholesalers</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Guatemala</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Per&#250;, S.A.C.<br/>Involvement in the operation and deployment of international telecommunications services via underwater cables and others means</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Colombia, S.A.<br/>Supply of data transmission capacity via underwater cable system</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (47.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Chile, S.A. (0.83%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Per&#250;, S.A.C. (0.84%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Guatemala, S.A. (0.83%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A. (0.01%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Brasil Participa&#231;oes, Ltda.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Brasil, Ltda.<br/>Operation and deployment of telecommunications infrastructures</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Brasil Participa&#231;oes, Ltda.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Bolivia, S.A.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bolivia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Am&#233;rica, S.A. (49.01%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Espa&#241;a, S.L.U. (0.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Cable Argentina, S.A. (0.5%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Limited <br/>Integrated provider of fixed and mobile services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica O2 Holdings  Limited</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestrutura e Fibra &#211;tica S.A.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43.7&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A. (18.7%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra S.L. (25%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37.40&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,067&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39.74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Chile, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Infraco SpA.<br/>Operation of physical fibre optic infrastructure</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,067&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39.74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Do Brasil, Ltda.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (10%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Mexico, S.A. de C.V. SOFOM ENR<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (9.5%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Per&#250;, S.A.C.<br/>Factoring services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (9.5%)</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Colombia, S.A.<br/>Factoring services provider</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,000&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. (40.5%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A. (9.5%)</span></div></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:43.344%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.525%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Name and corporate purpose</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Capital</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">%Telef&#243;nica Group</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Holding Company</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method (cont.)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Chile, SpA. <br/>Factoring services provider</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">547&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Factoring Espa&#241;a, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mobile Financial Services Holding SPRL<br/>Financial services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Belgium</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">198&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Internacional Holding, B.V &#160;(26.28%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Holding Atticus, B.V (23.72%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A.<br/>Specialised credit institution</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Consumer Finance Colombia SAS. <br/>Specialised credit institution</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Digital Espa&#241;a, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia Telecomunicaciones S.A. ESP BIC  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ONNET Fibra Colombia S.A.S.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45,852&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">The Smart Steps Data Technology Company<br/>Big data services in China</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">China</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CNY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37.5&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Iot &amp; Big Data Tech S.A. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Internet para todos S.A.C<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">364&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54.09&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica del Per&#250;, S.A.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Prosegur Alarmas, S.L.<br/>Private security services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Espa&#241;a Filiales, S.A.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prosegur Soluciones S.A.U.<br/>Private security services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Prosegur Alarmas, S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Producci&#243;n, S.L. <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Uno, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Dos, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Canarias, S.L.U <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Bizkaia, S.L.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios, S.L. </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 de Repsol y Movistar S.L. <br/>Development and marketing of photovoltaic self-consumption products and/or services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Espa&#241;a, S.A.U.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG TopCo/HoldCo General Partner GmbH. <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra Germany GmbH. (40%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G. (7.06%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG TopCo GmbH &amp; Co KG <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra Germany GmbH. (40%)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Deutschland Holding A.G. (7.06%)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG HoldCo GmbH&amp; Co KG <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG TopCo GmbH &amp; Co KG </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG General Partner GmbH <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG HoldCo GmbH&amp; Co KG </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unsere Gr&#252;ne Glasfaser GmbH &amp; Co KG <br/>Broadband telecommunications operator</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UGG HoldCo GmbH&amp; Co KG </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco S.L.<br/>Securities transactions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra,  S.L.  </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Digital Data Centre BidCo, S.L.U.<br/>Management and administration of equity securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco S.L.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Renting, S.A.<br/>Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica, S.A. </span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Holdco Limited<br/>Holding company</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Infra, S.L.</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Holdco Limited</span></td></tr></table><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Main changes in the scope of consolidation for the year 2022</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Acquisition of new companies</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of inclusion</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">02/28/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.<br/>Wireline telephony operator </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vivo ventures fundo de investimento em participacoes multiestrategia.<br/>Fondos de inversi&#243;n</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vita IT Com&#233;rcio e Servi&#231;os de Solu&#231;&#245;es em TI Ltda.<br/>Technical support, maintenance and other IT services</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">74.79&#160;</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering S.L.<br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Geprom Software Engineering  S.A. de C.V. <br/>Technical engineering services and other consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mexico</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Topco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Midco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Perpetual Bidco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Holdings Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Redspire Limited<br/>Software development and information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Incremental Group Limited <br/>Information technology consultancy activities and other services activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Group Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Consulting Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis BG LTD <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bulgaria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis India Private Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">India</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Kumo Analytics Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adatis Managed Services Limited <br/>Information technology consultancy activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration Holding GmbH<br/>Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna Acceleration GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Enhancement GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Germany GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna AB (Sweden)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sweden</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Boydak Automation AG<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna ApS (Denmark)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Denmark</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna B.V. (Netherlands)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Netherlands</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Leipzig)<br/>Software production, electronic data processing, consultancy, services and project management</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of inclusion</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies (cont.)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Austria GmbH<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;GmbH (Innsbruck)<br/>Services in automatic data processing and information technology</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Austria</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pipol A/S<br/>Conduct business with international implementation of business-oriented software solutions</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dinamarca</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;A/S (Norway)<br/>Computer programming activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Norway</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Business Solutions GmbH<br/>Software development and consulting, distribution of corresponding products, systems and processes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Industry Solutions GmbH<br/>Sales, implementation and maintenance of international ERP products</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;AG (Switzerland)<br/>Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Switzerland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;Adriatic d.o.o<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Belgrade (Serbia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Serbia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Ljubijana (Slovenia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Slovenia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BE-terna&#160;d.o.o Zagreb (Croatia)<br/>Technology services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Croatia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alamo Holdco S.L. <br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ONNET Fibra Colombia S.A.S.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Holdco Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Liberty Global Investment Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Incorporation of companies&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.415%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.628%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of incorporation</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 Soluciones de Instalacion y Mantenimiento S.L. <br/>Marketing and management in the installation, sale and maintenance of photovoltaic equipment</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TLH Holdco, S.L.<br/>Holding company</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TIS Hispanoam&#233;rica, S.L. <br/>Security services and systems</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Canarias, S.L.U <br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/01/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Bizkaia, S.L.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Solar360 de Repsol y Movistar S.L. <br/>Development and marketing of photovoltaic self-consumption products and/or services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Renting, S.A.<br/>Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Merged companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Surviving company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Compa&#241;&#237;a Independiente de Televisi&#243;n, S.L. <br/>Provision of all type of audiovisual telecommunications services</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2022</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica  Audiovisual Digital, S.L.U.</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Divestment companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"/><td style="width:58.136%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.129%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.220%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.115%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Sold</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bluevia Fibra, S.L.U.<br/>Operations and exploitation of FTTH network and other connectivity services.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">45&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica M&#243;viles El Salvador, S.A. de C.V.<br/>Provision of wireless and international long distance communications services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">El Salvador</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59.58&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VivaE Educa&#231;&#227;o Digital S.A. <br/>Training for professional and management development</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Opal Jvco Limited <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/31/2022</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liquidated companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"><tr><td style="width:1.0%"/><td style="width:58.136%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.129%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.220%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.115%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Shareholding</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity Tech Argentina S.A. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2022</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sao Paulo Telecomunica&#231;oes Participa&#231;oes Ltda<br/>Holding company</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2022</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Main changes in the scope of consolidation for the year 2021</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Acquisition of new companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of inclusion</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Altostratus Solutions, S.L. <br/>Provision of IT services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Deutschland GmbH <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK &amp; Ireland, Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Holdings Limited <br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK TOG Limited  <br/>Headquarters activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Managed Services Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech UK Limited <br/>Information technology, management and IT services consultancy</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Holdings Limited <br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Communication &amp; Collaboration Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Northern Ireland Limited<br/>Other computer service activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cancom Ireland Limited <br/>Provision of IT services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ireland</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Tech Ocean Limited<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prosegur Soluciones S.A.U.<br/>Private security services</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Daytona Midco S.L.<br/>Securities transactions</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/31/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.94&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Incorporation of companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.415%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.628%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date of incorporation</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Acquisition</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Hispam</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Global Solutions Germany GmbH. <br/>International service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Movistar Consumer Finance Colombia SAS. <br/>Specialised credit institution</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Colombia</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Uno, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Buend&#237;a Estudios Dos, S.L.U.<br/>Service provision related to film and video production activities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">FiBrasil Infraestrutura e Fibra &#211;tica S.A.<br/>Fibre wholesale supplier</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VMED O2 UK Limited <br/>Integrated provider of fixed and mobile services</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Merged companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"><tr><td style="width:1.0%"/><td style="width:62.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.021%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.022%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Surviving company</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services Per&#250; S.A.C. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech Per&#250; S.A.C </span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cyberrange S.L. <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL.</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ace &amp; Niu Consulting S.L.<br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Govertis Advisory Services S.L. </span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Innovaci&#243;n Alpha, S.L. <br/>Electronic communications and  audiovisual services provider</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/30/2021</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telefonica Open Innovation S.L.</span></td></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Divestment companies</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:55.625%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.695%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.443%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:14.837%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies/Segment/Subsidiaries</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Country</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deconsolidation date</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Sold</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other companies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inmosites, S.A.U.<br/>Purchase and leasing of real estate related to the telecommunications infrastructure business</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Latam, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Espa&#241;a, S.L.U.<br/>Establishment and operation of any kind of communications infrastructure and/or network</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spain</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Towers Germany, Gmbh.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Germany</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Per&#250; S.A.C.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Peru</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Chile Holding, S.A.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Chile, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Brasil, Ltda.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inmosites Brasil Participa&#231;oes Imobiliarias Ltda <br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Brazil</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telxius Torres Argentina, S.A.<br/>Telecommunications service provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Argentina</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica de Costa Rica TC, S.A.<br/>Wireless communications</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costa Rica</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Companies accounted for using the equity method</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">HoldCo InfraCo SpA <br/>Investment in money and/or securities</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chile</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/31/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Joint ventures</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Holdings Ltd<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica United Kingdom Ltd.<br/>Wireless communications</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Giffgaff Ltd<br/>Wireless communications services provider</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">O2 Networks Ltd.<br/>Holding company</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cornerstone Telecomunications <br/>Network sharing</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tesco Mobile Ltd.<br/>Wireless telephony services</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Telef&#243;nica Cybersecurity Tech UK Limited  <br/>Cybersecurity, electronic information security and IT consulting</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">United Kingdom</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/30/2021</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr></table></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B4<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B4_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Consolidations [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489790824928">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix II: Board and Senior Management Compensation (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfCompensationAbstract', window );"><strong>Disclosure Of Compensation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfKeyManagementPersonnelCompensationTableTextBlock', window );">Schedule of Key Management Personnel Compensation</a></td>
<td class="text"><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Set forth below are the amounts established in fiscal year 2022 as fixed amounts for belonging to the Board of Directors, the Executive Commission and the Advisory or Control Committees of Telef&#243;nica and the attendance fees for attending meetings of the Advisory or Control Committees of the Board of Directors: </span></div><div><span><br/></span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Compensation of the Board of Directors and of the Committees thereof</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:24.706%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:26.026%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.360%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.508%"/><td style="width:0.1%"/></tr><tr><td colspan="12" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amounts in euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Position</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Board of Directors</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Executive Commission</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Advisory or Control Committees </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Chairman</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">240,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vice chairman</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Executive Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proprietary Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Independent Member</span></td><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other external</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros.  </span><div style="margin-top:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">TELEF&#211;NICA, S.A.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros)</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:25.508%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.818%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.987%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.765%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.426%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.260%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">5</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other items</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">6</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total<br/>&#160;</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,923,100&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,198,897&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,085&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,128,082&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">280,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">91,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">337,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,600,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,911,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,514&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,535,714&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter Erskine</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">252,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Carmen Garc&#237;a de Andr&#233;s</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">185,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">196,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">113,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256,600&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233; </span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">138,200&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">277,800&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162,400&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez</span></td><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,000&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,000&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22,400&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">160,400&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Salary: Regarding Mr Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez and Mr &#193;ngel Vil&#225; Boix, the amount includes the non-variable remuneration earned from their executive functions.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, whether or not it can be consolidated over time, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Short-term variable 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 2022 and to be paid in the year 2023. In reference to the bonus corresponding to 2021, which was paid in 2022, Executive Board Member Mr Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez received 3,807,738 euros and Executive Board Member Mr &#193;ngel Vil&#225; Boix received 2,640,000 euros. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Commission and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. </span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">6</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telef&#243;nica, S.A.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table breaks down the amounts accrued and/or received from other companies of the Telef&#243;nica Group other than Telef&#243;nica, 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: </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">OTHER COMPANIES OF THE TELEF&#211;NICA GROUP</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"><tr><td style="width:1.0%"/><td style="width:27.105%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.290%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.100%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.608%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.418%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.379%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.497%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.803%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Salary</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed remunera-tion</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">2</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Allowances</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Short-term variable remuneration</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">4</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Remuneration for belonging to the Board Committees</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">5</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other items</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">6</span></div></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Isidro Fain&#233; Casas</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Jos&#233; Javier Echenique Landir&#237;bar</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">177,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Juan Ignacio Cirac Sasturain</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">90,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter Erskine</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="3" style="border-top:0.5pt solid #929292;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms Carmen Garc&#237;a de Andr&#233;s</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Luisa Garc&#237;a Blanco</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87,500&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Peter L&#246;scher</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Ver&#243;nica Pascual Bo&#233;</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,457&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Javier de Paz Mancho</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">170,727&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">155,000&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325,727&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mr. Francisco Jos&#233; Riberas Mera</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Mar&#237;a Rotondo Urcola</span></td><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ms. Claudia Sender Ram&#237;rez</span></td><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127,957&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127,957&#160;</span></td><td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telef&#243;nica Group for his/her executive functions.  </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 Telef&#243;nica Group. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">3.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">4.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 2022 and to be paid in the year 2023 by other companies of the Telef&#243;nica Group.</span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">5.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Remuneration for belonging to the Board Committees of other companies of the Telef&#243;nica 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 Telef&#243;nica Group, regardless of the effective attendance of the board member such Committee meetings.</span></div>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 Telef&#243;nica Group. Also included are the amounts received for membership of the Advisory Boards of Telef&#243;nica Espa&#241;a, Telef&#243;nica Hispanoam&#233;rica, Telef&#243;nica Tech and Telef&#243;nica Ingenier&#237;a de Seguridad.<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfLongTermSavingsSystemsOfKeyManagementPersonnelCompensationTableTextBlock', window );">Schedule of Long-term Savings Systems of Key Management Personnel Compensation</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LONG-TERM SAVINGS SYSTEMS </span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros)</span></div><div style="margin-bottom:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:54.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:43.264%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contributions for fiscal year 2022</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">673,085&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">560,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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: </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:38.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.298%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:23.350%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.082%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contribution to Pension Plans</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contribution to Executive Social Welfare Plan</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">1</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Contributions to Unit link-type Insurance/Pension Plan Surplus</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">2</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,574</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">540,968</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">124,543</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,721</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">487,840</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,439</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">1.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> 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 Telef&#243;nica Group. </span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">2.</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Contributions to Unit link-type Insurance/Pension Plan Surplus: In 2015 and 2021, 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.  </span></div>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 &#8220;Pension Plan&#8221; and the same exceptional liquidity events in case of serious illness or long-term unemployment.<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfLifeInsurancePremiumsOfKeyManagementPersonnelCompensationTableTextBlock', window );">Schedule of Life Insurance Premiums of Key Management Personnel Compensation</a></td>
<td class="text"><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">LIFE INSURANCE PREMIUMS </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(Amounts in euros) </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:54.536%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:43.264%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Life insurance premiums</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74,699&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,820&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfPerformanceAndInvestmentPlanKeyManagementPersonnelCompensationTableTextBlock', window );">Schedule of PSP of Key Management Personnel Compensation</a></td>
<td class="text"><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"><tr><td style="width:1.0%"/><td style="width:52.045%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:45.755%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum number of shares </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,094,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">819,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(*)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions  target. </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"><tr><td style="width:1.0%"/><td style="width:52.045%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:45.755%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Directors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum number of shares </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(*)</span></div></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">995,000&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mr. &#193;ngel Vil&#225; Boix </span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">745,000&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(*)</span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions target.</span><span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798904576">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix III: Debentures and Bonds (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The breakdown of financial liabilities at December&#160;31, 2022 and the corresponding maturities schedule is as follows: </span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"><tr><td style="width:1.0%"/><td style="width:30.177%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.682%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.325%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.206%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.982%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current</span></td><td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non-current total</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures and bonds</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,948&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,130&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,126&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,098&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,170&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,796&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,320&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,268&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Promissory notes &amp; commercial paper</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">355&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">899&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Issues</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,492</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,257</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,180</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,110</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,173</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,955</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,675</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">32,167</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans and other payables</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">673&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">572&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">376&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,360&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,544&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Derivative instruments (Note 19)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">344&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">109&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,024&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,368&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,010</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,817</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,421</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5,069</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,742</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">35,059</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">39,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail and key features of outstanding debentures and bonds at December 31, 2022 are as follows (in millions of euros):</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:30.249%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.994%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">T. EUROPE BV SEP_00 BOND GLOBAL D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TEBV FEB_03 EMTN FIXED TRANCHE B</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.875&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Europe, B.V.</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,648</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2013</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.987&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,277&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2019 (1)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.069&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.528&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.495&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">892&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN O2 GBP </span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.460&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,279&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.103&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,405&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.201&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JANUARY  2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES SEPTEMBER 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.715&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,250&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.318&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">200&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.788&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN GBP 10/08/2029 400 GBP</span></td><td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.445&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"><tr><td style="width:1.0%"/><td style="width:34.894%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.753%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.349%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.286%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.288%"/><td style="width:0.1%"/></tr><tr><td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total Telef&#243;nica and its instrumental companies (cont.)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity (nominal)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2014</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.932&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES FEBRUARY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.664&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2022 (2)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES OCTOBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.930&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MAY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.807&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JUNE 06 TRANCHE D</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.045&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.665&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.957&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES JULY 2020</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES APRIL 2017</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.213&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2018</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.895&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES MARCH 2019</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.520&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,171&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TELEF. EMISIONES DECEMBER 2016</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.000&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,399</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,193</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Telef&#243;nica, S.A. and its instrumental companies</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,277</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,000</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,019</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,843</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,655</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18,047</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/><td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,841</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/></tr><tr style="height:21pt"><td colspan="30" style="border-top:2pt solid #969696;padding:0 1pt"/></tr></table><div style="margin-top:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:30.204%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.450%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.928%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.276%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.755%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.283%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Foreign operators</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="18" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Debentures and bonds</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Interest rate</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.900&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond F</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond O</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond Q</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.600&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond 144 A</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.537&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">468&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">77</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">468</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">759</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie A)</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.6250%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 2.8750%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (37th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1250%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 4th Program (19th Serie C)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.1875%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (17th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">VAC + 3.0938%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.656&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (11th Serie B)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.188&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (15th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.469&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">33&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 6th Program (16th Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Private Program (1st Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.281&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond T. Peru 1st Program International Issue (1sr Serie A)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">N. SOL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.375&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">417&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica del&#160;Per&#250;, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">62</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">164</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">65</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">679</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.12%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CDI + 1.35%</span></div></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#244;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">269</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">359</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">628</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BOND R144-A</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.950&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">469&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond A5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.650&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond C10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">IPC + 3.39%</span></div></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A, ESP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">68</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">499</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">567</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bond</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.750&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">O2 Telef&#243;nica Deutschland Finanzierungs, GmbH</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">600</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds Foreign operators</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">200</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">258</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">523</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,032</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total Outstanding Debentures and Bonds</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,477</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,130</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,101</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,178</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19,079</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31,095</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and green bonds (See Note 29.d)</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29.d)</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory', window );">Schedule of Detailed Information about Debt</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest-bearing debt arranged or repaid in 2022 mainly includes the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:20.664%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.080%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Limit 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Drawndown 2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayment 2022 (million euros)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones S.A. E.S.P.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%">On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main debentures and bonds issued by the Group in 2022 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.440%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nominal (millions)</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Item</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency of issuance</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Coupon</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/05/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/13/2040</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2022</span></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2031</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2027</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,000&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.35% CDI</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2025</span></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.12% CDI</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29. d)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:30.131%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.389%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.017%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.660%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding principal balance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Descriptive name summary</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current limit (millions)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">02/22/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/01/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated (1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">258&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2016</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/18/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/18/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/14/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A. E.S.P.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan (2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/06/2021</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/19/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/17/2020</span></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/29/2023</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.  </span></div>(*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788481200">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix IV: Financial Instruments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppendixIVFinancialInstrumentsAbstract', window );"><strong>Appendix IV: Financial Instruments [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory', window );">Schedule of Detailed Information about Financial Instruments</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The detail of the net financial debt arranged by the Group (notional amount) by currency and interest rates at December 31, 2022 is as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:14.689%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.087%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.841%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.648%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.256%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.402%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.338%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euro</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8,499)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,066</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,500</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,707</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,020</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,344</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,138</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,461</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,254</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20,715</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,933&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,770&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">206&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,095&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,955&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,079&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,129&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,208&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.04&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.73&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.12&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.56&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.05&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,432)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,028&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,587&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,937&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,814&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,249&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,183&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,382&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,875)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,507&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Other european currencies</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CZK</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(87)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(86)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.17&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in GBP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(6)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">598</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">922</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(325)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">597</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">610&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">922&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(324)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">598&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CHF</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">America</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in USD</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(982)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">49</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,878)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,874</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(937)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13,038</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13,937)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(899)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">141&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,874)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,874&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">134&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">329&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.47&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.49&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(975)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,071)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,709&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13,783)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,074)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in UYU</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(15)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">97</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">111</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">119</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:15.737%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.952%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.513%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.367%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.927%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.002%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.513%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.270%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.002%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.958%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in ARS</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(222)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(226)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(232)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(232)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(222)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(226)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(232)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(232)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61.15&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60.06&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,125</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">796</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">367</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,412</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">868</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,610</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,478</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(220)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">796&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,067&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">827&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">271&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,098&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.57&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,345&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,339&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,380&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in CLP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">428</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">116</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">184</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">460</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,287</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(234)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,523</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,289</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">460&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">441&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">476&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">455&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.52&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">447&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">184&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">846&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,047&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">834&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.04&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in UFC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in PEN</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">294</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">63</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">165</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">159</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">139</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">820</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">474</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">349</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">823</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">278&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">165&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">804&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">458&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">349&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">807&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.81&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.08&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.38&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.53&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in VAC</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">89</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">64&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.05&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in COP</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">219</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">459</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">806</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">339</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">483</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">822</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(248)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">429&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">263&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">335&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">273&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.01&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%)</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">467&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">543&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">545&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">549&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.35&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.19&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.09&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.72&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in VEB</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:18.951%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.541%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.902%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.008%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.712%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.051%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.584%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.456%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.519%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.677%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Notional</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Underlying debt</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(*)</span></div></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Associated derivatives</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Instruments in MXN</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">163</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(246)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">87</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(240)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">227</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Floating rate</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.84&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fixed rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">139&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(246)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(20)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(255)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">227&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.66&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.70&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.80&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.88&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rate cap</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25,994</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27,699</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,012)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26,687</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating rate</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10,989</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,784</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,553</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,337</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed rate</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,005</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24,915</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(13,565)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,350</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(*) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Includes all net financial debt adjustments</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below 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, 2022:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Non trading accountant purposes</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">482</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">595</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,974)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,778)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,195)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,215)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(325)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,632)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,119)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,894)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.86&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.31&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,974&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,778&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,195&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,215&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,632&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,119&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,489&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.29&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.45&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(113)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(715)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(470)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(477)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(245)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,187)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,144)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,148)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">715&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">470&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">477&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,187&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,144&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,035&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.10&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.26&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.65&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.71&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.22&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.75&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.46&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">USD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(319)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(478)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(161)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.74&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.55&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.34&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">319&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">478&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(20)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(703)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(862)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(869)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">703&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">159&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">862&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">849&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.24&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.52&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.66&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Interest rate swaps</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUR</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,292)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">175</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,500)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(125)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(100)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,925)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,650)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,476)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.18&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.89&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,925&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,650&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,651&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,467)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(354)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,604)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,608)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,566)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,291)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.02&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">354&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,604&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,608&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,566&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,824&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.44&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.88&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.23&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.13&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">USD</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">756</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">756</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(822)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(83)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(423)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,757)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,590)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,532)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,207)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,396)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.85&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.36&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.63&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.16&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.62&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">822&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">423&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,757&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,590&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,532&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,207&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,152&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.03&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.78&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.92&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.79&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GBP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(451)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(434)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.42&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">450&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span><br/></span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:28.812%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.964%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.430%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.310%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.671%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.848%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Trading accountant purposes</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fair value</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CLP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.90&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.27&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(9)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(127)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">127&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">121&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.54&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">COP</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(106)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Fixed to floating</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.77&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.07&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Floating to fixed</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(116)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receiving leg</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(467)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(497)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(507)</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Spread</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.39&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.20&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paying leg</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">467&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">497&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">391&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Interest Rate</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.19&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.09&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.48&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities', window );">Schedule of Maturity Analysis for Derivative Financial Liabilities</a></td>
<td class="text"><div><span style="color:#ffffff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> rte options, by maturity, are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.599%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.588%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.880%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.885%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr></table><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:17.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.640%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.684%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.836%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency swaps</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(282)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(282)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(335)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(460)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(795)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(367)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(734)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,536&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,542&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,078&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(673)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(80)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(46)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,352)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,966)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,907)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,024)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">564&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">451&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,015&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">JPY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">107&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">JPY</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">231&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UFC</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,297&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">517&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,883&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,934&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,659&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,373&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,665)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(468)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,529)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,662)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">95</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(19)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">483</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">665</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (0.83), EUR/USD (1.13) and USD/COP (3,742.44).</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:17.494%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:17.640%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.684%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.659%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.416%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.538%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.295%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.836%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Millions of euros</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2024</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2025</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2026</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2027</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Subsequent years</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</span></td></tr><tr><td colspan="6" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Forwards</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">213&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">213&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,587)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,587)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CLP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(740)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(28)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(768)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">114&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(213)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">87&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CZK</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,583&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,583&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(890)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GBP</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(796)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(796)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MXN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(236)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PEN</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(384)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,919&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,962&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,165)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,165)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Receive</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21&#160;</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pay</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">UYU</span></td><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18)</span></td><td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(4)</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 (0.87), EUR/USD (1.03), USD/COP (4,660.76) and EUR/BRL (5.58).</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35K<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35K&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis for derivative financial liabilities, including the remaining contractual maturities for those derivative financial liabilities for which contractual maturities are essential for an understanding of the timing of the cash flows. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Appendix IV: Financial Instruments [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787691168">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix V: Interest-Bearing Debt (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppendixVInterestBearingDebtAbstract', window );"><strong>Appendix V: Interest-Bearing Debt [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory', window );">Schedule of Interest-Bearing Debt</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest-bearing debt arranged or repaid in 2022 mainly includes the following: </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:20.664%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.076%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.080%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Description</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Limit 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding balance 12/31/2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Drawndown 2022 (million euros)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repayment 2022 (million euros)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones S.A. E.S.P.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d).</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%">On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%">  </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main debentures and bonds issued by the Group in 2022 are as follows:</span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:27.595%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.479%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.769%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.440%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nominal (millions)</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Item</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity Date</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Euros</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency of issuance</span></td><td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Coupon</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Emisiones, S.A.U.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/05/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/13/2040</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.864&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EMTN Bond </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2022</span></td><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">05/25/2031</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.592&#160;</span></td><td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">%</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2027</span></td><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,000&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359&#160;</span></td><td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.35% CDI</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Debentures </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2022</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/12/2025</span></td><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,500&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">269&#160;</span></td><td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BRL</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.12% CDI</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Debentures and sustainable bonds (See Note 29. d)</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:30.131%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.389%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.017%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.603%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:10.630%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:11.660%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Outstanding principal balance</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(millions of euros)</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Descriptive name summary</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Current limit (millions)</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Currency</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2022</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12/31/2021</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Arrangement date</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Maturity date</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica, S.A</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">72&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">02/22/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">08/01/2013</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10/31/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">238&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">223&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">288&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Structured Financing (*)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">161&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/11/2015</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/11/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated (1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,500&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/15/2018</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/13/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/26/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/15/2032</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/23/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/23/2033</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">T. Brasil, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">199&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/04/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/28/2023</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica Germany GmbH &amp; Co. OHG</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">183&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">258&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2016</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/13/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sustainable syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/17/2026</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 1)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/18/2019</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">06/18/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EIB Financing (Tranche 2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">150&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/14/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/14/2029</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia Telecomunicaciones, S.A. E.S.P.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan (2)</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">117&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/24/2020</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">01/26/2022</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">COP</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">97&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">07/06/2021</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">03/19/2025</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telxius Telecom, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">300&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">201&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">162&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2017</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/01/2024</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bluevia Fibra S.L.U.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Syndicated</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">EUR</span></td><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">245&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11/16/2022</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12/20/2027</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Telef&#243;nica M&#243;viles Chile, S.A.</span></td><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #acacac;border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bilateral loan</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">USD</span></td><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">133&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">124&#160;</span></td><td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">04/17/2020</span></td><td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">09/29/2023</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#243;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"> On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.  </span></div>(*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount.<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Appendix V: Interest-Bearing Debt [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794069440">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsAbstract', window );"><strong>Disclosure of detailed information about service concession arrangements [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutServiceConcessionArrangementsExplanatory', window );">Schedule of Detailed Information about Service Concession Arrangements</a></td>
<td class="text"><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following tables list the concessions and licenses as at December 31, 2022 to use spectrum for mobile services and selected other applications in each country. </span></div><div style="margin-top:9pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:32.917%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:6.378%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:7.697%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.322%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.565%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:24.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.568%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EUROPE</span></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Spain</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2031</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29.6&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29.6&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">United Kingdom (5)</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34.8&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.6&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2300</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Germany</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">800&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14.2&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2040</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2040</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Initial term until 1 December 1, 2041, can be extended for 20 additional years. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Initial term until 2020, extended concession until April 18, 2030. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses in Madrid and Melilla. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> National license excluding 2 regions (Madrid and Melilla). </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"> These licenses are part of the joint venture with Liberty Global plc (VMED O2 UK Limited).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"/><td style="width:33.357%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.618%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:8.870%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.468%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.565%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:24.853%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.569%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BRAZIL </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</span></div></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5-10</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023-2035</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1800</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30-65</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023-2035</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2100</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30-60</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2300</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40-50</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2500</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40-60</span></div></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027-2031</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHZ</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">600&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Expiration date accounts for initial term of 15 years for 450, 700, 2100 and 2500 MHz bands, another 15 years extension are contemplated in these licenses. In 2300 MHz, 3.5 and 26 GHz the initial term is 20 years, with additional 20 years extension. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional codes are included in Annex 1. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Except regions 2', 4', 6', 7', 7&#8217;&#8217; and 10. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses second term expiring in different dates. Concession extended until 2028.  </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses of 5 MHz or 10 MHz. Not in regions 1 and 10. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(6)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses: second term expiration and renewal dates are dependent on the region.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(7)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses between 30 MHz and 65 MHz.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(8)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 40 MHz national license, plus Band P (20 MHz) in some areas. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(9)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> The initial term of Band X will expire in 2027 and Band P will expire in 2031. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(10)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 30 MHz in some regions. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(11)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Regional licenses: 40 MHz in North, SP and CO; 50 MHz in RJ, ES e MG.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.391%"><tr><td style="width:1.0%"/><td style="width:21.336%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.803%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:40.058%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:9.449%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.313%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.441%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">HISPANOAM&#201;RICA</span></td><td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Frequency</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Bandwidth (MHz)</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Year of Exp. Date</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Argentina</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (AMBA)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Sur)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (AMBA)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Norte)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Sur)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2035</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Chile</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2045</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Indefinite</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2032</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2043</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (TDD)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2038</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4)</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2051</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Colombia</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2041</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ecuador</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Peru</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">450&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2036</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Lima and Callao)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">900&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Rest of provinces)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2028</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Lima and Callao)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2030</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz (Rest of provinces)</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2018</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Uruguay</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">700&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2037</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024/2047</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2033</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2045</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Venezuela</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25&#160;</span></td><td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1900</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz</span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1700</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz/2100 MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2027</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2600</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MHz </span></td><td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40&#160;</span></td><td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2029</span></td><td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/></tr><tr><td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GHz</span></td><td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50&#160;</span></td><td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2026</span></td><td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10)</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Covering 65% of the population.  </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Fixed Wireless Access licenses 25+25 MHz in 23 localities with indefinite term (Res. SC 10160/1999, including AMBA region). </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 10MHz sold in 2021 as a result of the &#8216;Subtel&#8217; (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. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Only in Metropolitan Region. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Renewed for 20 years. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(6)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Provinces of Lima and Callao: expiration date of March 2030; rest of provinces in December 2030. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(7)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> In process of renewal. Extension requested on May 30, 2016. According to the regulation, the license maintains its validity until the Ministry of Transport and Communications decides over the request presented. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(8)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> 10 MHz expires in 2024; 10 MHz has been renewed for 25 years until in 2047. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline">(9)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"> Renewed for 5 years. </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline">(10)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"> Available for Fixed Wireless Access licenses.</span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about service concession arrangements. [Refer: Service concession arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name SIC<br> -Number 29<br> -IssueDate 2022-03-24<br> -Paragraph 6<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=SIC&amp;num=29&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_6&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794098752">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Annex 1 (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Annex1Abstract', window );"><strong>Annex 1 [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ScheduleOfAcronymsForSpectrumPortfolioTableTextBlock', window );">Schedule Of Acronyms For Spectrum Portfolio</a></td>
<td class="text"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acronym</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">State</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acre</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Alagoas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amap&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amazonas</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bahia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ceara</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Distrito Federal</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Esp&#237;rito Santo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Goi&#225;s</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Maranh&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Mato Grosso do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Minas Gerais</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Par&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Para&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Paran&#225;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Pernambuco</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Piau&#237;</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio de Janeiro</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Norte</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rio Grande do Sul</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rond&#244;nia</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Roraima</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Santa Catarina</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">S&#227;o Paulo</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sergipe</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tocantins</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160;</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Regions</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">States &amp; towns<br/>included in the regions</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (City)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP (Interior)</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP -&#160;&#160;towns of sector 33 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ and ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG -&#160;&#160;towns of sector 3 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR and SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR - towns of sector 20 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS - towns of sector 30 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC, DF, GO, MS, MT, RO and TO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7'</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO - towns of sector 25 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7''</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS - towns of sector 22 of the GPLG</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM, AP, MA, PA and RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA and SE</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL, CE, PB, PE, PI and RN</span></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:33.453%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:64.347%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Sectors</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GPLG -&#160;&#160;general plan of the licenses granted&#160;&#160;(geographic areas that correspond to the sectors)</span></td></tr><tr><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1</span></td><td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RJ</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - except towns included in sector 3</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MG - towns of&#160;&#160;Arapor&#227;, Ara&#250;jo, Campina Verde, Campo Florido, Campos Altos, Can&#225;lopis, Capin&#243;polis, Carmo do Parana&#237;ba, Carneirinhos, Centralina, Comendador Gomes, Concei&#231;&#227;o das Alagoas, C&#243;rrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhat&#227;, Ibiraci, Igaratinga, Iguatama, Indian&#243;polis, Ipia&#231;&#250;, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Par&#225; de Minas, Patos de Minas, Pedrin&#243;polis, Pequi, Perdig&#227;o, Pirajuba, Pitangui, Planura, Prata, Presidente Oleg&#225;rio, Rio Parana&#237;ba, Santa Juliana, Santa Vit&#243;ria, S&#227;o Francisco de Sales, S&#227;o Jos&#233; da Varginha, Tupaciguara, Uberaba, Uberl&#226;ndia, Uni&#227;o de Minas &amp; Vazante</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ES</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">BA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AL</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PB</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">10</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RN</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CE</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PI</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">13</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PA</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AP</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AM</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RR</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">18</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">19</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211;except&#160;&#160;towns included of sector 20</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">20</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PR &#8211; towns of Londrina and Tamarana</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; except the town integrating of sector 22</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">22</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MS &#8211; town of Parana&#237;ba</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">23</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">MT</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">TO and GO &#8211; except&#160;&#160;towns included in sector 25</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">25</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">GO &#8211; towns of Buriti Alegre, Cachoeira Dourada, Inaciol&#226;ndia, Itumbiara, Paranaiguara and S&#227;o Sim&#227;o</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">26</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">DF</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">27</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RO</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">AC</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">30</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RS &#8211; towns of Pelotas, Cap&#227;o do Le&#227;o, Morro Redondo and Turu&#231;u</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">31</span></td><td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; except the towns included in sector 33</span></td></tr><tr><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">33</span></td><td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">SP &#8211; towns of Altin&#243;polis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, C&#225;ssia dos Coqueiros, Col&#244;mbia, Franca, Gua&#237;ra, Guar&#225;, Ipu&#227;, Ituverava, Jardin&#243;polis, Miguel&#243;polis, Morro Agudo, Nuporanga, Orl&#226;ndia, Ribeir&#227;o Corrente, Sales de Oliveira, Santa Cruz da Esperan&#231;a, Santo Ant&#244;nio da Alegria and S&#227;o Joaquim da Barra</span></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annex 1 [Abstract]</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791330336">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Schedule of Effect of Changes in Foreign Exchange Rates (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrencyLineItems', window );"><strong>Currency [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies', window );">Increase (decrease) in equity due to depreciation of euro to major currencies</a></td>
<td class="nump">&#8364; 1,169<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">Brazilian real</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrencyLineItems', window );"><strong>Currency [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceOfAverageExchangeRate', window );">Variation of average exchange rate (in percentage)</a></td>
<td class="nump">17.60%<span></span>
</td>
<td class="num">(8.80%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceInClosingExchangeRate', window );">Variation of closing exchange rate (in percentage)</a></td>
<td class="nump">13.50%<span></span>
</td>
<td class="nump">0.90%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">Pound sterling</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrencyLineItems', window );"><strong>Currency [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceOfAverageExchangeRate', window );">Variation of average exchange rate (in percentage)</a></td>
<td class="nump">0.80%<span></span>
</td>
<td class="nump">3.40%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceInClosingExchangeRate', window );">Variation of closing exchange rate (in percentage)</a></td>
<td class="num">(5.30%)<span></span>
</td>
<td class="nump">6.90%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">New peruvian sol</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrencyLineItems', window );"><strong>Currency [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceOfAverageExchangeRate', window );">Variation of average exchange rate (in percentage)</a></td>
<td class="nump">13.70%<span></span>
</td>
<td class="num">(13.20%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceInClosingExchangeRate', window );">Variation of closing exchange rate (in percentage)</a></td>
<td class="nump">10.90%<span></span>
</td>
<td class="num">(1.60%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">Chilean peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrencyLineItems', window );"><strong>Currency [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceOfAverageExchangeRate', window );">Variation of average exchange rate (in percentage)</a></td>
<td class="num">(2.20%)<span></span>
</td>
<td class="nump">0.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceInClosingExchangeRate', window );">Variation of closing exchange rate (in percentage)</a></td>
<td class="nump">4.70%<span></span>
</td>
<td class="num">(8.80%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">Colombian peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrencyLineItems', window );"><strong>Currency [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceOfAverageExchangeRate', window );">Variation of average exchange rate (in percentage)</a></td>
<td class="num">(0.60%)<span></span>
</td>
<td class="num">(5.10%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceInClosingExchangeRate', window );">Variation of closing exchange rate (in percentage)</a></td>
<td class="num">(12.20%)<span></span>
</td>
<td class="num">(6.60%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrencyLineItems', window );"><strong>Currency [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceOfAverageExchangeRate', window );">Variation of average exchange rate (in percentage)</a></td>
<td class="nump">13.50%<span></span>
</td>
<td class="nump">1.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualVarianceInClosingExchangeRate', window );">Variation of closing exchange rate (in percentage)</a></td>
<td class="nump">11.50%<span></span>
</td>
<td class="nump">5.40%<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AnnualVarianceInClosingExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Variance In Closing Exchange Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AnnualVarianceInClosingExchangeRate</td>
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<td>dtr-types:percentItemType</td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AnnualVarianceOfAverageExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Variance Of Average Exchange Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AnnualVarianceOfAverageExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Currency</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrencyLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Equity Due To Depreciation Of Euro To Major Currencies</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_BRL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_BRL</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_GBP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_GBP</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_PEN</td>
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<tr><td><div class="body" style="padding: 2px;">
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<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CLP</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">srt_CurrencyAxis=currency_COP</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784610064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Agreement Between Telefonica and Liberty Global plc to Combine Their Operating Businesses in the UK (Details)<br> &#8364; in Millions, &#163; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th">
<div>Jun. 01, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 01, 2021 </div>
<div>GBP (&#163;)</div>
</th>
<th class="th"><div>May 07, 2020</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Gain on disposal of businesses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 205<span></span>
</td>
<td class="nump">&#8364; 11,008<span></span>
</td>
<td class="nump">&#8364; 67<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Reclassificationadjustmentsonremeasurementsofdefinedbenefitplansbeforetax', window );">Reclassification adjustments on accumulated actuarial losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 392<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Gain on disposal of businesses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Reclassificationadjustmentsonremeasurementsofdefinedbenefitplansbeforetax', window );">Reclassification adjustments on accumulated actuarial losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">392<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod', window );">Proceeds from sales of investments accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,234<span></span>
</td>
<td class="nump">&#163; 5,376<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromEqualizationPaymentOfDisposalOfNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Proceeds from equalization payment | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,622<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromRecapitalizationOfJointVenture', window );">Proceeds from recapitalization of joint venture | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 2,754<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2 | Telef&#243;nica O2 Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfJointVenturesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfJointVenturesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsOnDisposalsOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of investments accounted for using the equity method. [Refer: Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProceedsFromEqualizationPaymentOfDisposalOfNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Equalization Payment of Disposal Of Non-current Assets Or Disposal Groups Classified As Held For Sale And Discontinued Operations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProceedsFromEqualizationPaymentOfDisposalOfNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProceedsFromRecapitalizationOfJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Recapitalization Of Joint Venture</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProceedsFromRecapitalizationOfJointVenture</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Reclassificationadjustmentsonremeasurementsofdefinedbenefitplansbeforetax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reclassification adjustments on remeasurements of defined benefit plans, before tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Reclassificationadjustmentsonremeasurementsofdefinedbenefitplansbeforetax</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaUnitedKingdomMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791560944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Schedule of Gain on Sale of Disposal Group (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jun. 01, 2021</div></th>
<th class="th"><div>May 07, 2020</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Result of the transaction: gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 205<span></span>
</td>
<td class="nump">&#8364; 11,008<span></span>
</td>
<td class="nump">&#8364; 67<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueOfInvestmentsInJointVentures', window );">Fair value of 50% of VMO2 (Note 10)</a></td>
<td class="nump">&#8364; 12,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,068<span></span>
</td>
<td class="nump">&#8364; 10,718<span></span>
</td>
<td class="nump">&#8364; 12,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Result of the transaction: gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Cash received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueOfInvestmentsInJointVentures', window );">Fair value of 50% of VMO2 (Note 10)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount', window );">Less: carrying amount of Telefonica United Kingdom at June 1, 2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,937)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Liabilities assumed and other costs (see Note 29.c)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(441)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsOnDisposalsOfInvestmentsBeforeReclassificationOfTranslationDifferencesAndGainsOnHedges', window );">Result before reclassification of translation differences and gains on hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,868<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsOfInvestmentsReclassificationOfTranslationDifferences', window );">Reclassification of translation differences included in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,135)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsOfInvestmentsReclassificationOfGainsOnHedges', window );">Reclassification of gains on hedges included in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 727<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company | VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfJointVenturesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfJointVenturesLineItems</td>
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<tr>
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<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsOnDisposalsOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Disposal groups classified as held for sale [member]; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposal Groups Classified As Held For Sale, Carrying Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalGroupsClassifiedAsHeldForSaleCarryingAmount</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalsOfInvestmentsReclassificationOfGainsOnHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposals Of Investments, Reclassification Of Gains On Hedges</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalsOfInvestmentsReclassificationOfGainsOnHedges</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalsOfInvestmentsReclassificationOfTranslationDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposals Of Investments, Reclassification Of Translation Differences</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalsOfInvestmentsReclassificationOfTranslationDifferences</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FairValueOfInvestmentsInJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair Value Of Investments In Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FairValueOfInvestmentsInJointVentures</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_GainsOnDisposalsOfInvestmentsBeforeReclassificationOfTranslationDifferencesAndGainsOnHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gains On Disposals Of Investments, Before Reclassification Of Translation Differences And Gains On Hedges</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_GainsOnDisposalsOfInvestmentsBeforeReclassificationOfTranslationDifferencesAndGainsOnHedges</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787863296">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Agreement Between Telxius Telecom and American Tower Corporation for the Sale of its Telecommunications Towers Divisions in Europe and Latin America (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Aug. 02, 2021 </div>
<div>EUR (&#8364;) </div>
<div>site</div>
</th>
<th class="th">
<div>Jun. 03, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 01, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jan. 13, 2021 </div>
<div>site </div>
<div>transaction</div>
</th>
<th class="th">
<div>Jun. 08, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 8,279<span></span>
</td>
<td class="nump">&#8364; 7,579<span></span>
</td>
<td class="nump">&#8364; 4,982<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 8,677<span></span>
</td>
<td class="nump">&#8364; 8,070<span></span>
</td>
<td class="nump">&#8364; 5,294<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfTelecommunicationTowerSitesSold', window );">Number of telecommunication tower sites sold | site</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,722<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSeparateAndIndependentTransactionsTelecommunicationTowersSitesSelling', window );">Number of separate and independent transactions | transaction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalGroupNameAxis=tef_EuropeTowersDivisionMember', window );">Europe towers division | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Cash received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,346<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalGroupNameAxis=tef_LatinAmericaTowersDivisionMember', window );">Latin America towers division | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Cash received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalGroupNameAxis=tef_EuropeTowersDivisionSecondPhaseMember', window );">Europe Towers Division, Second Phase | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfTelecommunicationTowerSitesSold', window );">Number of telecommunication tower sites sold | site</a></td>
<td class="nump">4,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations', window );">Cash received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 632<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalGroupNameAxis=tef_EuropeAndLatinAmericaTowersDivisionMember', window );">Europe and Latin America towers division | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets</a></td>
<td class="nump">&#8364; 2,633<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">&#8364; 2,775<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Disposal groups classified as held for sale [member]; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfSeparateAndIndependentTransactionsTelecommunicationTowersSitesSelling">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Separate And Independent Transactions, Telecommunication Towers Sites Selling</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfSeparateAndIndependentTransactionsTelecommunicationTowersSitesSelling</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfTelecommunicationTowerSitesSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Telecommunication Tower Sites Sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalGroupNameAxis=tef_EuropeTowersDivisionMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalGroupNameAxis=tef_LatinAmericaTowersDivisionMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalGroupNameAxis=tef_EuropeTowersDivisionSecondPhaseMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalGroupNameAxis=tef_EuropeAndLatinAmericaTowersDivisionMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489790975200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Telecommunication Towers Transaction Breakdown (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Aug. 02, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Result of the transaction: gain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 205<span></span>
</td>
<td class="nump">&#8364; 11,008<span></span>
</td>
<td class="nump">&#8364; 67<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,996)<span></span>
</td>
<td class="num">(2,751)<span></span>
</td>
<td class="num">(3,665)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(641)<span></span>
</td>
<td class="num">(1,378)<span></span>
</td>
<td class="num">(626)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Result attributable to non-controlling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(308)<span></span>
</td>
<td class="num">(2,580)<span></span>
</td>
<td class="num">(375)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Result attributable to equity holders of the parent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,011<span></span>
</td>
<td class="nump">&#8364; 8,137<span></span>
</td>
<td class="nump">&#8364; 1,582<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalGroupNameAxis=tef_EuropeAndLatinAmericaTowersDivisionMember', window );">Europe and Latin America towers division | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Result of the transaction: gain</a></td>
<td class="nump">&#8364; 6,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalOfInvestmentsSellingPrice', window );">Selling price</a></td>
<td class="nump">7,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalOfInvestmentsCarryingAmountOfNetAssetsAndTransactionCosts', window );">Less: carrying amount of net assets and transaction costs</a></td>
<td class="nump">1,729<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsOnDisposalsOfInvestmentsExcludingTranslationDifferences', window );">Result before reclassification of translation differences</a></td>
<td class="nump">6,136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Translation differences</a></td>
<td class="num">(37)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax</a></td>
<td class="num">(162)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Result attributable to non-controlling shareholders</a></td>
<td class="num">(2,246)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Result attributable to equity holders of the parent</a></td>
<td class="nump">&#8364; 3,691<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsOnDisposalsOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfInvestments</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net loss arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalOfInvestmentsCarryingAmountOfNetAssetsAndTransactionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposal Of Investments, Carrying Amount Of Net Assets And Transaction Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalOfInvestmentsCarryingAmountOfNetAssetsAndTransactionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalOfInvestmentsSellingPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposal Of Investments, Selling Price</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalOfInvestmentsSellingPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_GainsOnDisposalsOfInvestmentsExcludingTranslationDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gains On Disposals Of Investments, Excluding Translation Differences</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_GainsOnDisposalsOfInvestmentsExcludingTranslationDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalGroupNameAxis=tef_EuropeAndLatinAmericaTowersDivisionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalGroupNameAxis=tef_EuropeAndLatinAmericaTowersDivisionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791551696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Acquisition of mobile assets of Oi Group (Details) - Oi Group<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CashTransferredEstimation', window );">Cash transferred, estimation</a></td>
<td class="nump">R$ 5,373<span></span>
</td>
<td class="nump">&#8364; 1,063<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="nump">R$ 4,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 972<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage', window );">Increase in existing liabilities, contingent liabilities recognised in business combination, percentage</a></td>
<td class="nump">0.10<span></span>
</td>
<td class="nump">0.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Consideration</a></td>
<td class="nump">R$ 5,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,093<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">539<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill (Note 7)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">676<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 520<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Committed Payment Subject To Certain Targets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncurred', window );">Liabilities incurred | R$</a></td>
<td class="nump">110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Other Committed Payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncurred', window );">Liabilities incurred | R$</a></td>
<td class="nump">R$ 8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Guaranteed | Telefonica Brasil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage', window );">Increase in existing liabilities, contingent liabilities recognised in business combination, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesIncurred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of liabilities incurred (for example, a liability for contingent consideration) as consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesIncurred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CashTransferredEstimation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash transferred, estimation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CashTransferredEstimation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase In Existing Liabilities Recognised In Business Combination, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_LicencesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_LicencesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_CommittedPaymentSubjectToCertainTargetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_CommittedPaymentSubjectToCertainTargetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_OtherCommittedPaymentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentAgreementAxis=tef_GuaranteedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentAgreementAxis=tef_GuaranteedMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791486112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Agreement between Telefonica de Espana (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
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</tr>
<tr>
<th class="th">
<div>Dec. 20, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
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<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
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<div>Apr. 20, 2022 </div>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 781<span></span>
</td>
<td class="num">&#8364; (473)<span></span>
</td>
<td class="nump">&#8364; 580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
<td class="nump">6,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Deferred tax assets for temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,205<span></span>
</td>
<td class="nump">4,610<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember', window );">Retained earnings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">936<span></span>
</td>
<td class="num">(354)<span></span>
</td>
<td class="num">(223)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(155)<span></span>
</td>
<td class="num">&#8364; (119)<span></span>
</td>
<td class="nump">&#8364; 318<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Deferred tax assets for temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 548<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 548<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Retained earnings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="nump">&#8364; 986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries', window );">Acquisitions and disposals of non-controlling interests and business combinations (Note 2)</a></td>
<td class="nump">&#8364; 23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_VaubanCAAMember', window );">Vauban/CAA | Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate (in percentage)</a></td>
<td class="nump">45.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,021<span></span>
</td>
<td class="nump">R$ 1,021<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
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<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the equity of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in an associate held by the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798890368">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Individual Suspension Plan (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 28, 2021 </div>
<div>EUR (&#8364;) </div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Basis Of Presentation Of The Consolidated Financial Statements [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Individual Suspension Plan, Minimum Age Of Employees</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Individual Suspension Plan, Minimum Seniority Of Employees</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Individual Suspension Plan, Present Value Of Estimated Cash Flows</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787984464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation of the Consolidated Financial Statements - Impairment of Goodwill of Telefonica Argentina and Telefonica del Peru (Details) - Goodwill - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<th class="th"><div>Dec. 31, 2022</div></th>
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<td class="nump">&#8364; 0<span></span>
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<td class="nump">&#8364; 416<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for intangible assets and goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets and goodwill]</p></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>108
<FILENAME>R92.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791378656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies - Hyperinflationary Economies (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="3"></th>
<th class="th" colspan="3"></th>
<th class="th" colspan="3"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>venezuelanBolivarInflation_adjustedPerUSDollar</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>venezuelanBolivarSoberano / $</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>$ / &#8364;</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>venezuelanBolivarInflation_adjustedPerUSDollar</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>venezuelanBolivarSoberano / $</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>$ / &#8364;</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>venezuelanBolivarInflation_adjustedPerUSDollar</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>venezuelanBolivarSoberano / $</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>$ / &#8364;</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_VE', window );">Venezuela</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InflationRate', window );">Inflation rate (as a percent)</a></td>
<td class="nump">174.30%<span></span>
</td>
<td class="nump">686.40%<span></span>
</td>
<td class="nump">2959.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Exchange rate as of closing date of period (per USD)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45.18<span></span>
</td>
<td class="nump">17.489<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.47<span></span>
</td>
<td class="nump">4.597<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,094,405<span></span>
</td>
<td class="nump">1,107,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_AR', window );">Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Exchange rate as of closing date of period (per USD)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">189.08<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">116.37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">103.23<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Cumulativeindexrate', window );">Cumulative index rate (as a percent)</a></td>
<td class="nump">1134.60%<span></span>
</td>
<td class="nump">582.50%<span></span>
</td>
<td class="nump">385.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AnnualIndexRateUsed', window );">Annual index rate (as a percent)</a></td>
<td class="nump">95.00%<span></span>
</td>
<td class="nump">51.00%<span></span>
</td>
<td class="nump">36.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClosingForeignExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The spot exchange rate at the end of the reporting period. Exchange rate is the ratio of exchange for two currencies. Spot exchange rate is the exchange rate for immediate delivery.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClosingForeignExchangeRate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<td>xbrli:decimalItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeographicalAreasLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeographicalAreasLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AnnualIndexRateUsed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Index Rate Used</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AnnualIndexRateUsed</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Cumulativeindexrate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cumulative index rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Cumulativeindexrate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InflationRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inflation Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InflationRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_VE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_VE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_AR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_AR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>109
<FILENAME>R93.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788035456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies - Intangible Assets (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer base | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod', window );">Amortization term length</a></td>
<td class="text">4 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer base | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod', window );">Amortization term length</a></td>
<td class="text">14 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod', window );">Amortization term length</a></td>
<td class="text">2 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod', window );">Amortization term length</a></td>
<td class="text">5 years<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Useful Lives Or Amortisation Rates Intangible Assets Other Than Goodwill, Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod</td>
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<td>tef_</td>
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<td>xbrli:durationItemType</td>
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<td>na</td>
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<tr>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791484464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies - Estimated Useful Life of Depreciable Assets (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale', window );">Period to qualify assets to condition necessary for intended use or sale</a></td>
<td class="text">18 months<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Minimum | Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod', window );">Estimated useful life</a></td>
<td class="text">25 years<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Minimum | Plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod', window );">Estimated useful life</a></td>
<td class="text">5 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Minimum | Furniture, tools and other items</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod', window );">Estimated useful life</a></td>
<td class="text">2 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Maximum | Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod', window );">Estimated useful life</a></td>
<td class="text">40 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Maximum | Plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod', window );">Estimated useful life</a></td>
<td class="text">25 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Maximum | Furniture, tools and other items</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod', window );">Estimated useful life</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period To Qualify Assets To Condition Necessary For Intended Use Or Sale</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Useful Lives Or Depreciation Rates, Property, Plant And Equipment, Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipmentPeriod</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
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<DOCUMENT>
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<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794054928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies - Impairment of non-current assets (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Significant Accounting Policies [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period covering projected cash flows for calculation of impairment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PeriodCoveringProjectedCashFlowsForCalculationOfImpairment</td>
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<DOCUMENT>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799002192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies - Inventories (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2022</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfSignificantAccountingPoliciesAbstract', window );"><strong>Disclosure Of Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InventoriesAudioVisualRightsConsumptionPeriod', window );">Audio-visual rights, consumption period</a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InventoriesOwnContentMaximumProductionCyclePeriod', window );">Own content, maximum production cycle period</a></td>
<td class="text">36 months<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InventoriesOwnContentMaximumIncomeStatementChargePeriod', window );">Own content, maximum income statement charge period</a></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Of Significant Accounting Policies [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureOfSignificantAccountingPoliciesAbstract</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inventories, Audio-Visual Rights, Consumption Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InventoriesAudioVisualRightsConsumptionPeriod</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inventories, Own Content, Maximum Income Statement Charge Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inventories, Own Content, Maximum Production Cycle Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>113
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788051920">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information - Narrative (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jun. 01, 2021</div></th>
<th class="th"><div>May 07, 2020</div></th>
<th class="th"><div>Aug. 02, 2021</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Gain on disposal of businesses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 205<span></span>
</td>
<td class="nump">&#8364; 11,008<span></span>
</td>
<td class="nump">&#8364; 67<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Gain on disposal of businesses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company | VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A. | Europe and Latin America towers division</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Gain on disposal of businesses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
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<td>na</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfInvestments</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td></td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489785876432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information - Income and Capital Expenditure Information Regarding Operating Segments (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 39,993<span></span>
</td>
<td class="nump">&#8364; 39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="nump">478<span></span>
</td>
<td class="nump">396<span></span>
</td>
<td class="nump">354<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="num">(8,796)<span></span>
</td>
<td class="num">(8,397)<span></span>
</td>
<td class="num">(9,359)<span></span>
</td>
</tr>
<tr class="reu">
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<td class="text">&#160;<span></span>
</td>
<td class="nump">4,056<span></span>
</td>
<td class="nump">13,586<span></span>
</td>
<td class="nump">4,139<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="nump">5,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,448)<span></span>
</td>
<td class="num">(1,979)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">&#8364; 7,579<span></span>
</td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
<td class="nump">4,982<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">7,223<span></span>
</td>
<td class="nump">12,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="num">(4,773)<span></span>
</td>
<td class="num">(7,754)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="nump">2,450<span></span>
</td>
<td class="nump">4,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="num">(2,395)<span></span>
</td>
<td class="num">(4,170)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="nump">1,508<span></span>
</td>
<td class="nump">2,707<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="num">(75)<span></span>
</td>
<td class="num">(118)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">1,058<span></span>
</td>
<td class="nump">862<span></span>
</td>
<td class="nump">1,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember', window );">Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,982)<span></span>
</td>
<td class="num">(1,864)<span></span>
</td>
<td class="num">(1,556)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,904<span></span>
</td>
<td class="nump">1,623<span></span>
</td>
<td class="nump">1,098<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(78)<span></span>
</td>
<td class="num">(241)<span></span>
</td>
<td class="num">(458)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42<span></span>
</td>
<td class="nump">297<span></span>
</td>
<td class="nump">315<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(36)<span></span>
</td>
<td class="nump">56<span></span>
</td>
<td class="num">(143)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">254<span></span>
</td>
<td class="nump">909<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="num">(67)<span></span>
</td>
<td class="num">(37)<span></span>
</td>
<td class="num">(67)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,224<span></span>
</td>
<td class="nump">12,156<span></span>
</td>
<td class="nump">12,118<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,497<span></span>
</td>
<td class="nump">12,417<span></span>
</td>
<td class="nump">12,401<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,909)<span></span>
</td>
<td class="num">(9,040)<span></span>
</td>
<td class="num">(7,355)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,588<span></span>
</td>
<td class="nump">3,377<span></span>
</td>
<td class="nump">5,046<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,157)<span></span>
</td>
<td class="num">(2,153)<span></span>
</td>
<td class="num">(2,184)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,431<span></span>
</td>
<td class="nump">1,224<span></span>
</td>
<td class="nump">2,862<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,550<span></span>
</td>
<td class="nump">1,815<span></span>
</td>
<td class="nump">1,408<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(724)<span></span>
</td>
<td class="num">(482)<span></span>
</td>
<td class="num">(138)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">1,433<span></span>
</td>
<td class="nump">1,722<span></span>
</td>
<td class="nump">1,433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">273<span></span>
</td>
<td class="nump">261<span></span>
</td>
<td class="nump">283<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,609<span></span>
</td>
<td class="nump">6,666<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,628<span></span>
</td>
<td class="nump">6,708<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,709)<span></span>
</td>
<td class="num">(4,644)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">919<span></span>
</td>
<td class="nump">2,064<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(389)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">919<span></span>
</td>
<td class="nump">1,675<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">933<span></span>
</td>
<td class="nump">913<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(389)<span></span>
</td>
<td class="num">(116)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19<span></span>
</td>
<td class="nump">42<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_VMEDO2UKLtdMember', window );">VMO2 | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">292<span></span>
</td>
<td class="num">(103)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_VMEDO2UKLtdMember', window );">VMO2 | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,195<span></span>
</td>
<td class="nump">7,738<span></span>
</td>
<td class="nump">7,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,224<span></span>
</td>
<td class="nump">7,765<span></span>
</td>
<td class="nump">7,532<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,666)<span></span>
</td>
<td class="num">(5,341)<span></span>
</td>
<td class="num">(5,223)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,558<span></span>
</td>
<td class="nump">2,424<span></span>
</td>
<td class="nump">2,309<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,295)<span></span>
</td>
<td class="num">(2,394)<span></span>
</td>
<td class="num">(2,394)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="num">(85)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,209<span></span>
</td>
<td class="nump">1,284<span></span>
</td>
<td class="nump">1,094<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(594)<span></span>
</td>
<td class="num">(833)<span></span>
</td>
<td class="num">(1,159)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">3,349<span></span>
</td>
<td class="nump">3,277<span></span>
</td>
<td class="nump">3,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,854<span></span>
</td>
<td class="nump">6,897<span></span>
</td>
<td class="nump">7,406<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,870<span></span>
</td>
<td class="nump">6,910<span></span>
</td>
<td class="nump">7,422<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,138)<span></span>
</td>
<td class="num">(3,772)<span></span>
</td>
<td class="num">(4,234)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,732<span></span>
</td>
<td class="nump">3,138<span></span>
</td>
<td class="nump">3,188<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,369)<span></span>
</td>
<td class="num">(1,918)<span></span>
</td>
<td class="num">(1,965)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,363<span></span>
</td>
<td class="nump">1,220<span></span>
</td>
<td class="nump">1,223<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,795<span></span>
</td>
<td class="nump">2,069<span></span>
</td>
<td class="nump">1,372<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(596)<span></span>
</td>
<td class="num">(489)<span></span>
</td>
<td class="num">(768)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">1,701<span></span>
</td>
<td class="nump">2,048<span></span>
</td>
<td class="nump">1,701<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="nump">13<span></span>
</td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,026<span></span>
</td>
<td class="nump">8,258<span></span>
</td>
<td class="nump">7,786<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,141<span></span>
</td>
<td class="nump">8,362<span></span>
</td>
<td class="nump">7,922<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,183)<span></span>
</td>
<td class="num">(6,644)<span></span>
</td>
<td class="num">(6,932)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,958<span></span>
</td>
<td class="nump">1,718<span></span>
</td>
<td class="nump">990<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,799)<span></span>
</td>
<td class="num">(1,873)<span></span>
</td>
<td class="num">(2,274)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">159<span></span>
</td>
<td class="num">(155)<span></span>
</td>
<td class="num">(1,284)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19)<span></span>
</td>
<td class="num">(6)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,058<span></span>
</td>
<td class="nump">978<span></span>
</td>
<td class="nump">833<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(514)<span></span>
</td>
<td class="num">(387)<span></span>
</td>
<td class="num">(364)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">1,064<span></span>
</td>
<td class="nump">1,169<span></span>
</td>
<td class="nump">1,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115<span></span>
</td>
<td class="nump">104<span></span>
</td>
<td class="nump">136<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,685<span></span>
</td>
<td class="nump">1,628<span></span>
</td>
<td class="nump">1,610<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,149)<span></span>
</td>
<td class="nump">7,589<span></span>
</td>
<td class="num">(2,288)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">94<span></span>
</td>
<td class="nump">10,648<span></span>
</td>
<td class="nump">359<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(218)<span></span>
</td>
<td class="num">(356)<span></span>
</td>
<td class="num">(468)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(124)<span></span>
</td>
<td class="nump">10,292<span></span>
</td>
<td class="num">(109)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(41)<span></span>
</td>
<td class="num">(16)<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">206<span></span>
</td>
<td class="nump">454<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(113)<span></span>
</td>
<td class="num">(378)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">99<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="nump">99<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,243<span></span>
</td>
<td class="nump">3,059<span></span>
</td>
<td class="nump">2,647<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(17)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,558<span></span>
</td>
<td class="nump">1,431<span></span>
</td>
<td class="nump">1,037<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelxiusGroupMember', window );">Telxius Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">2,633<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,633<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaHispamAndTelefonicaGlobalSolutionsMember', window );">Telefonica Hispam and Telefonica Global Solutions | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9<span></span>
</td>
<td class="num">(9)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrasilAndTelxiusGroupMember', window );">Telefonica Brasil and Telxius Group | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,991)<span></span>
</td>
<td class="num">(1,855)<span></span>
</td>
<td class="num">(1,546)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,993<span></span>
</td>
<td class="nump">39,277<span></span>
</td>
<td class="nump">43,076<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(27,141)<span></span>
</td>
<td class="num">(17,294)<span></span>
</td>
<td class="num">(29,578)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,852<span></span>
</td>
<td class="nump">21,983<span></span>
</td>
<td class="nump">13,498<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,796)<span></span>
</td>
<td class="num">(8,397)<span></span>
</td>
<td class="num">(9,359)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,056<span></span>
</td>
<td class="nump">13,586<span></span>
</td>
<td class="nump">4,139<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">217<span></span>
</td>
<td class="num">(127)<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,267<span></span>
</td>
<td class="nump">5,861<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,439)<span></span>
</td>
<td class="num">(2,014)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">&#8364; 7,579<span></span>
</td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsToRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to right-of-use assets. [Refer: Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsToRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOperatingSegmentsLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for expenditure related to development projects.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_PaymentsForDevelopmentProjectExpenditure</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2022-03-24<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueAndOperatingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of the entity's revenue and other operating income. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueAndOperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the total comprehensive income of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Joint ventures [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B16<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B16_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfTotalComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784271584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information - Income, Capital Expenditure and Acquisitions of Rights of Use of VMO2 (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 39,993<span></span>
</td>
<td class="nump">&#8364; 39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">478<span></span>
</td>
<td class="nump">396<span></span>
</td>
<td class="nump">354<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,796)<span></span>
</td>
<td class="num">(8,397)<span></span>
</td>
<td class="num">(9,359)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,056<span></span>
</td>
<td class="nump">13,586<span></span>
</td>
<td class="nump">4,139<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,803<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="nump">677<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,030)<span></span>
</td>
<td class="num">(2,028)<span></span>
</td>
<td class="num">(2,417)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gain (loss) on derivative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,012<span></span>
</td>
<td class="nump">1,573<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Exchange losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,996)<span></span>
</td>
<td class="num">(2,751)<span></span>
</td>
<td class="num">(3,665)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetFinancialExpense', window );">Net financial expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,313)<span></span>
</td>
<td class="num">(1,364)<span></span>
</td>
<td class="num">(1,558)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">PROFIT BEFORE TAX</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,960<span></span>
</td>
<td class="nump">12,095<span></span>
</td>
<td class="nump">2,583<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Corporate income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(641)<span></span>
</td>
<td class="num">(1,378)<span></span>
</td>
<td class="num">(626)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">PROFIT FOR THE YEAR</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,319<span></span>
</td>
<td class="nump">10,717<span></span>
</td>
<td class="nump">1,957<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">230<span></span>
</td>
<td class="num">(132)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,448<span></span>
</td>
<td class="nump">1,979<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13)<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">&#8364; 7,223<span></span>
</td>
<td class="nump">12,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income and expenses</a></td>
<td class="num">(4,773)<span></span>
</td>
<td class="num">(7,754)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="nump">2,450<span></span>
</td>
<td class="nump">4,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="num">(2,395)<span></span>
</td>
<td class="num">(4,170)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance costs</a></td>
<td class="num">(504)<span></span>
</td>
<td class="num">(1,020)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gain (loss) on derivative</a></td>
<td class="nump">489<span></span>
</td>
<td class="nump">2,567<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Exchange losses</a></td>
<td class="num">(367)<span></span>
</td>
<td class="num">(1,296)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetFinancialExpense', window );">Net financial expense</a></td>
<td class="num">(355)<span></span>
</td>
<td class="nump">275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">PROFIT BEFORE TAX</a></td>
<td class="num">(300)<span></span>
</td>
<td class="nump">507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Corporate income tax</a></td>
<td class="nump">65<span></span>
</td>
<td class="num">(15)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">PROFIT FOR THE YEAR</a></td>
<td class="num">(235)<span></span>
</td>
<td class="nump">492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueOfInvestmentsInJointVenturesOtherVenturer', window );">50% attributable to Telef&#243;nica Group</a></td>
<td class="num">(117)<span></span>
</td>
<td class="nump">246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseFromEquitysettledSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets', window );">Share-based compensation</a></td>
<td class="nump">14<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherAdjustments', window );">Other adjustments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="num">(103)<span></span>
</td>
<td class="nump">292<span></span>
</td>
<td class="num">(103)<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">CapEx</a></td>
<td class="nump">1,508<span></span>
</td>
<td class="nump">2,707<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Acquisitions of rights of use</a></td>
<td class="nump">75<span></span>
</td>
<td class="nump">118<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsToRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to right-of-use assets. [Refer: Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsToRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfJointVenturesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfJointVenturesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseFromEquitysettledSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from equity-settled share-based payment transactions in which the goods or services received did not qualify for recognition as assets. [Refer: Expense from share-based payment transactions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 51<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_51_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseFromEquitysettledSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net loss arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for expenditure related to development projects.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsForDevelopmentProjectExpenditure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2022-03-24<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueAndOperatingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of the entity's revenue and other operating income. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueAndOperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FairValueOfInvestmentsInJointVenturesOtherVenturer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair Value Of Investments In Joint Ventures, Other Venturer</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FairValueOfInvestmentsInJointVenturesOtherVenturer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NetFinancialExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net Financial Expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NetFinancialExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Adjustments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784902976">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Segment Information - Segment Assets, Liabilities and Investments Accounted for by the Equity Method (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">&#8364; 23,714<span></span>
</td>
<td class="nump">&#8364; 22,725<span></span>
</td>
<td class="nump">&#8364; 23,769<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
<td class="nump">4,982<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">312<span></span>
</td>
<td class="nump">251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">8,101<span></span>
</td>
<td class="nump">7,347<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
<td class="nump">6,416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">358<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">109,642<span></span>
</td>
<td class="nump">109,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">35,059<span></span>
</td>
<td class="nump">35,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">6,657<span></span>
</td>
<td class="nump">6,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="nump">2,602<span></span>
</td>
<td class="nump">&#8364; 2,620<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">4,020<span></span>
</td>
<td class="nump">7,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">2,020<span></span>
</td>
<td class="nump">1,679<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">134<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">42,576<span></span>
</td>
<td class="nump">46,258<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">862<span></span>
</td>
<td class="nump">1,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">2,763<span></span>
</td>
<td class="nump">1,348<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">79<span></span>
</td>
<td class="nump">115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">511<span></span>
</td>
<td class="nump">214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">50,062<span></span>
</td>
<td class="nump">52,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">19,668<span></span>
</td>
<td class="nump">19,185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">725<span></span>
</td>
<td class="nump">885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">3,248<span></span>
</td>
<td class="nump">2,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">221<span></span>
</td>
<td class="nump">219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">28,626<span></span>
</td>
<td class="nump">28,198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">348<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">2,237<span></span>
</td>
<td class="nump">1,667<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">99<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">410<span></span>
</td>
<td class="nump">253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">6,082<span></span>
</td>
<td class="nump">7,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">929<span></span>
</td>
<td class="nump">1,671<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">7,435<span></span>
</td>
<td class="nump">8,379<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">256<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">26,288<span></span>
</td>
<td class="nump">29,544<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">30,425<span></span>
</td>
<td class="nump">31,288<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">45<span></span>
</td>
<td class="nump">55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">922<span></span>
</td>
<td class="nump">558<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">8,449<span></span>
</td>
<td class="nump">9,669<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">134<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">42,869<span></span>
</td>
<td class="nump">45,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember', window );">Operating segments | Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">14,285<span></span>
</td>
<td class="nump">14,499<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">1,722<span></span>
</td>
<td class="nump">1,433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">252<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">875<span></span>
</td>
<td class="nump">549<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">2,395<span></span>
</td>
<td class="nump">2,345<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">32<span></span>
</td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">27,917<span></span>
</td>
<td class="nump">24,971<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">2,089<span></span>
</td>
<td class="nump">2,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">1,317<span></span>
</td>
<td class="nump">1,082<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">95<span></span>
</td>
<td class="nump">119<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">1,840<span></span>
</td>
<td class="nump">1,019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">392<span></span>
</td>
<td class="nump">378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">16,782<span></span>
</td>
<td class="nump">17,042<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember', window );">Operating segments | VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">10,779<span></span>
</td>
<td class="nump">12,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">10,779<span></span>
</td>
<td class="nump">12,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember', window );">Operating segments | Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">11,602<span></span>
</td>
<td class="nump">12,124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">3,277<span></span>
</td>
<td class="nump">3,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">992<span></span>
</td>
<td class="nump">883<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">463<span></span>
</td>
<td class="nump">433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">34<span></span>
</td>
<td class="nump">70<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">19,142<span></span>
</td>
<td class="nump">19,953<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">1,510<span></span>
</td>
<td class="nump">1,627<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">2,663<span></span>
</td>
<td class="nump">2,781<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">274<span></span>
</td>
<td class="nump">291<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">128<span></span>
</td>
<td class="nump">89<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">597<span></span>
</td>
<td class="nump">548<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">10,246<span></span>
</td>
<td class="nump">10,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember', window );">Operating segments | Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">18,217<span></span>
</td>
<td class="nump">15,056<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">2,048<span></span>
</td>
<td class="nump">1,701<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">984<span></span>
</td>
<td class="nump">888<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">485<span></span>
</td>
<td class="nump">454<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">162<span></span>
</td>
<td class="nump">56<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">24,875<span></span>
</td>
<td class="nump">21,461<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">653<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">1,531<span></span>
</td>
<td class="nump">1,317<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">1,032<span></span>
</td>
<td class="nump">1,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">350<span></span>
</td>
<td class="nump">199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">629<span></span>
</td>
<td class="nump">460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">9,437<span></span>
</td>
<td class="nump">7,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember', window );">Operating segments | Telef&#243;nica Hispam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">7,870<span></span>
</td>
<td class="nump">7,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">1,169<span></span>
</td>
<td class="nump">1,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">146<span></span>
</td>
<td class="nump">128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">1,578<span></span>
</td>
<td class="nump">1,001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">612<span></span>
</td>
<td class="nump">713<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">222<span></span>
</td>
<td class="nump">838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">15,951<span></span>
</td>
<td class="nump">15,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">2,502<span></span>
</td>
<td class="nump">2,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">1,115<span></span>
</td>
<td class="nump">1,192<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">744<span></span>
</td>
<td class="nump">594<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">4,120<span></span>
</td>
<td class="nump">4,620<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">402<span></span>
</td>
<td class="nump">295<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">13,861<span></span>
</td>
<td class="nump">14,306<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember', window );">Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(14)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="num">(37)<span></span>
</td>
<td class="num">(67)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="num">(2,410)<span></span>
</td>
<td class="num">(3,402)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="num">(5,441)<span></span>
</td>
<td class="num">(5,548)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="num">(15,310)<span></span>
</td>
<td class="num">(14,473)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="num">(2,120)<span></span>
</td>
<td class="num">(2,554)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="num">(14)<span></span>
</td>
<td class="num">(36)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="num">(10,867)<span></span>
</td>
<td class="num">(8,591)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="num">(19)<span></span>
</td>
<td class="num">(16)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="num">(15,261)<span></span>
</td>
<td class="num">(14,367)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">54,202<span></span>
</td>
<td class="nump">50,969<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">11,587<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">8,101<span></span>
</td>
<td class="nump">7,347<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">358<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">109,642<span></span>
</td>
<td class="nump">109,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">35,059<span></span>
</td>
<td class="nump">35,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">6,657<span></span>
</td>
<td class="nump">6,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="nump">2,602<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">4,020<span></span>
</td>
<td class="nump">7,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">2,020<span></span>
</td>
<td class="nump">1,679<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">134<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">&#8364; 77,934<span></span>
</td>
<td class="nump">&#8364; 80,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOperatingSegmentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities included in disposal groups classified as held for sale. [Refer: Liabilities; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 38<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph p<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_p&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale or as held for distribution to owners. [Refer: Non-current assets or disposal groups classified as held for distribution to owners; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Financial Assets And Other Non-Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_VMEDO2UKLtdMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780956288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information - Composition of Segment Revenues, Detailed by the Main Countries of Operation (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">&#8364; 39,993<span></span>
</td>
<td class="nump">&#8364; 39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember', window );">Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="num">(1,982)<span></span>
</td>
<td class="num">(1,864)<span></span>
</td>
<td class="num">(1,556)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=srt_GeographyEliminationsMember', window );">Geography Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">1,261<span></span>
</td>
<td class="nump">1,195<span></span>
</td>
<td class="nump">1,091<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_OtherProductsAndServicesAndEliminationsMember', window );">Others and elims. | Geography Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">1,261<span></span>
</td>
<td class="nump">1,195<span></span>
</td>
<td class="nump">1,091<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">12,224<span></span>
</td>
<td class="nump">12,156<span></span>
</td>
<td class="nump">12,118<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">12,497<span></span>
</td>
<td class="nump">12,417<span></span>
</td>
<td class="nump">12,401<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">273<span></span>
</td>
<td class="nump">261<span></span>
</td>
<td class="nump">283<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Retailers | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">9,662<span></span>
</td>
<td class="nump">9,699<span></span>
</td>
<td class="nump">9,906<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Wholesalers, mobile handsets sales and others | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">2,835<span></span>
</td>
<td class="nump">2,718<span></span>
</td>
<td class="nump">2,495<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,609<span></span>
</td>
<td class="nump">6,666<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,628<span></span>
</td>
<td class="nump">6,708<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19<span></span>
</td>
<td class="nump">42<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Fixed | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">96<span></span>
</td>
<td class="nump">232<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Mobile | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,532<span></span>
</td>
<td class="nump">6,476<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Others and elims. | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">8,195<span></span>
</td>
<td class="nump">7,738<span></span>
</td>
<td class="nump">7,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">8,224<span></span>
</td>
<td class="nump">7,765<span></span>
</td>
<td class="nump">7,532<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">29<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Fixed | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">806<span></span>
</td>
<td class="nump">814<span></span>
</td>
<td class="nump">785<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Mobile | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">7,394<span></span>
</td>
<td class="nump">6,942<span></span>
</td>
<td class="nump">6,730<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Others and elims. | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">24<span></span>
</td>
<td class="nump">9<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">8,854<span></span>
</td>
<td class="nump">6,897<span></span>
</td>
<td class="nump">7,406<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">8,870<span></span>
</td>
<td class="nump">6,910<span></span>
</td>
<td class="nump">7,422<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">13<span></span>
</td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Fixed | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">2,764<span></span>
</td>
<td class="nump">2,300<span></span>
</td>
<td class="nump">2,531<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Mobile | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">6,106<span></span>
</td>
<td class="nump">4,610<span></span>
</td>
<td class="nump">4,891<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Others and elims. | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">9,026<span></span>
</td>
<td class="nump">8,258<span></span>
</td>
<td class="nump">7,786<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">9,141<span></span>
</td>
<td class="nump">8,362<span></span>
</td>
<td class="nump">7,922<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Eliminations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">115<span></span>
</td>
<td class="nump">104<span></span>
</td>
<td class="nump">136<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Fixed | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">3,138<span></span>
</td>
<td class="nump">2,907<span></span>
</td>
<td class="nump">2,836<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Mobile | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">6,003<span></span>
</td>
<td class="nump">5,444<span></span>
</td>
<td class="nump">5,070<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Others and elims. | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 11<span></span>
</td>
<td class="nump">&#8364; 16<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeographicalAreasLineItems</td>
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<tr>
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<tr>
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<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=tef_RetailerMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProductsAndServicesAxis=tef_MobileMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784444992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business combinations - Acquisition of mobile assets of Oi Group Narrative (Details)<br> &#8364; in Millions, client in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>sitesOfMobileAccess</div>
</th>
<th class="th"><div>Apr. 20, 2022</div></th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>client</div>
</th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>site</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,835<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember', window );">Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 760<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrasilClaroSAAndTIMSAMember', window );">Telef&#243;nica Brasil, Claro S.A. And TIM S.A. | Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">94<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfClientsRecognisedAsOfAcquisitionDate', window );">Number of clients recognised as of acquisition date | client</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage', window );">Number of clients recognised as of acquisition date, (in percentage of total customers)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage', window );">Spectrum recognised as of acquisition date, percentage of radiofrequency (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.46<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate', window );">Infrastructure contracts recognised as of acquisition date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage', window );">Infrastructure contracts recognised as of acquisition date, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FairValueOfAcquiredReceivables', window );">Fair value of acquired receivables</a></td>
<td class="nump">&#8364; 74<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables', window );">Gross contractual amounts receivable for acquired receivables</a></td>
<td class="nump">81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables', window );">Best estimate at acquisition date of contractual cash flows not expected to be collected for acquired receivables</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate', window );">Contingent liabilities recognised as of acquisition date</a></td>
<td class="nump">&#8364; 90<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueOfAcquiree', window );">Revenue of acquiree since acquisition date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">206<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossOfAcquiree', window );">Loss of acquiree since acquisition date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination', window );">Asset recognised for expected reimbursement, contingent liabilities in business combination | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">353<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination', window );">Increase in existing liabilities, contingent liabilities recognised in business combination | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 3,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage', window );">Increase in existing liabilities, contingent liabilities recognised in business combination, percentage</a></td>
<td class="nump">0.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilMember', window );">Telefonica Brasil | Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination', window );">Asset recognised for expected reimbursement, contingent liabilities in business combination</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 64<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination', window );">Increase in existing liabilities, contingent liabilities recognised in business combination</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">204<span></span>
</td>
<td class="nump">1,075<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilMember', window );">Telefonica Brasil | Guaranteed | Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination', window );">Increase in existing liabilities, contingent liabilities recognised in business combination</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 93<span></span>
</td>
<td class="nump">R$ 488<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage', window );">Increase in existing liabilities, contingent liabilities recognised in business combination, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.10<span></span>
</td>
<td class="nump">0.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum | Oi Group | Licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill', window );">Useful life measured as period of time, intangible assets other than goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum | Oi Group | Licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill', window );">Useful life measured as period of time, intangible assets other than goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">15 years<span></span>
</td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Oi Group | Licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill', window );">Useful life measured as period of time, intangible assets other than goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years 29 days<span></span>
</td>
<td class="text">10 years 29 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that have been recognised for the expected reimbursement of contingent liabilities recognised in a business combination. [Refer: Contingent liabilities [member]; Expected reimbursement, contingent liabilities in business combination; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_j&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetRecognisedForExpectedReimbursementContingentLiabilitiesInBusinessCombination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The best estimate at acquisition date of contractual cash flows not expected to be collected for receivables acquired in business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph h<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_h_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BestEstimateAtAcquisitionDateOfContractualCashFlowsNotExpectedToBeCollectedForAcquiredReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contingent liabilities recognised as of the acquisition date in a business combination. [Refer: Contingent liabilities [member]; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContingentLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBusinessCombinationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FairValueOfAcquiredReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of receivables acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph h<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_h_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FairValueOfAcquiredReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gross contractual amounts receivable for receivables acquired in business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph h<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_h_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossContractualAmountsReceivableForAcquiredReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in existing contingent liabilities recognised in a business combination. [Refer: Contingent liabilities recognised in business combination; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossOfAcquiree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) of the acquiree, since the acquisition date, included in the consolidated statement of comprehensive income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph q<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_q_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossOfAcquiree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueOfAcquiree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue of the acquiree since the acquisition date included in the consolidated statement of comprehensive income. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph q<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_q_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueOfAcquiree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The useful life, measured as period of time, used for intangible assets other than goodwill. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UsefulLifeMeasuredAsPeriodOfTimeIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase In Existing Liabilities Recognised In Business Combination, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Infrastructure contracts recognised as of acquisition date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InfrastructureContractsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Infrastructure Contracts Recognised As Of Acquisition Date, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfClientsRecognisedAsOfAcquisitionDate</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Clients Recognised As Of Acquisition Date, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Spectrum recognised as of acquisition date, percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SpectrumRecognisedAsOfAcquisitionDatePercentage</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaBrasilClaroSAAndTIMSAMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788257392">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business combinations - Acquisition of mobile assets of Oi Group (Details) - Apr. 20, 2022 - Oi Group<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th"><div>EUR (&#8364;)</div></th>
<th class="th"><div>BRL (R$)</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Consideration</a></td>
<td class="nump">&#8364; 1,093<span></span>
</td>
<td class="nump">R$ 5,492<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">539<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate', window );">Property, plant and equipment</a></td>
<td class="nump">29<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RightOfUseAssetsAsOfAcquisitionDate', window );">Rights of use</a></td>
<td class="nump">105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate', window );">Deferred tax assets</a></td>
<td class="nump">44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeReceivablesRecognisedAsOfAcquisitionDate', window );">Trade receivables</a></td>
<td class="nump">74<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherAssetRecognisedAsOfAcquisitionDate', window );">Other assets</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate', window );">Cash and cash equivalents</a></td>
<td class="nump">13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate', window );">Lease liabilities</a></td>
<td class="num">(117)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate', window );">Trade payables</a></td>
<td class="num">(24)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsRecognisedAsOfAcquisitionDate', window );">Provisions</a></td>
<td class="num">(221)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate', window );">Other liabilities</a></td>
<td class="num">(55)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Liabilities assumed and other costs (see Note 29.c)</a></td>
<td class="nump">417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill (Note 7)</a></td>
<td class="nump">676<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">520<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Customer relationships</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">&#8364; 19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for cash and cash equivalents acquired in a business combination. [Refer: Cash and cash equivalents; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax assets acquired in a business combination. [Refer: Deferred tax assets; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBusinessCombinationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for plant, property and equipment acquired in a business combination. [Refer: Property, plant and equipment; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for trade and other payables assumed in a business combination. [Refer: Trade and other payables; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Lease Liabilities Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherAssetRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Asset Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherAssetRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Liabilities Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provisions Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RightOfUseAssetsAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Right Of Use Assets As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RightOfUseAssetsAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TradeReceivablesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trade receivables recognised as of acquisition date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeReceivablesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_LicencesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_LicencesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489792555936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business combinations - Acquisition of Incremental Narrative (Details) - Incremental - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Jun. 09, 2022</div></th>
<th class="th"><div>Mar. 21, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10000.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 104<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable', window );">Payment obligations cancelled</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 91<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossOfAcquiree', window );">Loss of acquiree since acquisition date</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBusinessCombinationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossOfAcquiree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) of the acquiree, since the acquisition date, included in the consolidated statement of comprehensive income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph q<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_q_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossOfAcquiree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business combination, payments to cancel accounts payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BusinessCombinationPaymentsToCancelAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>121
<FILENAME>R105.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807971264">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business combinations - Acquisition of Incremental (Details) - Incremental<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Mar. 21, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Consideration</a></td>
<td class="nump">&#8364; 104<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable', window );">Payment obligations cancelled</a></td>
<td class="nump">91<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="nump">195<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate', window );">Property, plant and equipment</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RightOfUseAssetsAsOfAcquisitionDate', window );">Rights of use</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AccountsReceivableRecognisedAsOfAcquisitionDate', window );">Accounts receivable</a></td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherAssetRecognisedAsOfAcquisitionDate', window );">Other assets</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate', window );">Cash and cash equivalents</a></td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate', window );">Lease liabilities</a></td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AccountPayableRecognisedAsOfAcquisitionDate', window );">Account Payable Recognised As Of Acquisition Date</a></td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate', window );">Deferred tax liabilities</a></td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate', window );">Other liabilities</a></td>
<td class="num">(11)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Fair value of net assets</a></td>
<td class="nump">25<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill (Note 7)</a></td>
<td class="nump">170<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember', window );">Customer base</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember', window );">Other intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for cash and cash equivalents acquired in a business combination. [Refer: Cash and cash equivalents; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for plant, property and equipment acquired in a business combination. [Refer: Property, plant and equipment; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AccountPayableRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Account Payable Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AccountPayableRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AccountsReceivableRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accounts Receivable Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AccountsReceivableRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business combination, payments to cancel accounts payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BusinessCombinationPaymentsToCancelAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Lease Liabilities Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherAssetRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Asset Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherAssetRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Liabilities Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RightOfUseAssetsAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Right Of Use Assets As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RightOfUseAssetsAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799785008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Business combinations - Acquisition of BE-Terna Narrative (Details) - BE-terna<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 09, 2022 </div>
<div>EUR (&#8364;) </div>
<div>employee </div>
<div>site</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 191<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable', window );">Payment obligations cancelled</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 162<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfEmployeesRecognisedAsOfAcquisitionDate', window );">Number of employees recognised as of acquisition date | employee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSitesTransferred', window );">Number of sites transferred | site</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossOfAcquiree', window );">Loss of acquiree since acquisition date</a></td>
<td class="num">&#8364; (3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBusinessCombinationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossOfAcquiree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) of the acquiree, since the acquisition date, included in the consolidated statement of comprehensive income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph q<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_q_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossOfAcquiree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business combination, payments to cancel accounts payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BusinessCombinationPaymentsToCancelAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfEmployeesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Employees Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfEmployeesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfSitesTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of sites transferred</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfSitesTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_BETernaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807841824">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business combinations - Acquisition of BE-Terna (Details) - BE-terna<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Jun. 09, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Consideration</a></td>
<td class="nump">&#8364; 191<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable', window );">Payment obligations cancelled</a></td>
<td class="nump">162<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="nump">353<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate', window );">Property, plant and equipment</a></td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RightOfUseAssetsAsOfAcquisitionDate', window );">Rights of use</a></td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AccountsReceivableRecognisedAsOfAcquisitionDate', window );">Accounts receivable</a></td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherAssetRecognisedAsOfAcquisitionDate', window );">Other assets</a></td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate', window );">Cash and cash equivalents</a></td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate', window );">Lease liabilities</a></td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate', window );">Trade payables</a></td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate', window );">Deferred tax liabilities</a></td>
<td class="num">(21)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentTaxPayablesRecognisedAsOfAcquisitionDate', window );">Current tax payables</a></td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate', window );">Other liabilities</a></td>
<td class="num">(21)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Liabilities assumed and other costs (see Note 29.c)</a></td>
<td class="nump">74<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill (Note 7)</a></td>
<td class="nump">279<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember', window );">Customer base</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">57<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember', window );">Other intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">&#8364; 20<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for cash and cash equivalents acquired in a business combination. [Refer: Cash and cash equivalents; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBusinessCombinationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for plant, property and equipment acquired in a business combination. [Refer: Property, plant and equipment; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for trade and other payables assumed in a business combination. [Refer: Trade and other payables; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AccountsReceivableRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accounts Receivable Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AccountsReceivableRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BusinessCombinationPaymentsToCancelAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business combination, payments to cancel accounts payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BusinessCombinationPaymentsToCancelAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentTaxPayablesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Tax Payables Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentTaxPayablesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Lease Liabilities Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LeaseLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherAssetRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Asset Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherAssetRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Liabilities Recognised As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RightOfUseAssetsAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Right Of Use Assets As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RightOfUseAssetsAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489808105040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations - Acquisition of Canom Narrative (Details) - Cancom Ltd.<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Jul. 29, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="nump">&#8364; 122<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossOfAcquiree', window );">Loss of acquiree since acquisition date</a></td>
<td class="nump">&#8364; 4<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) of the acquiree, since the acquisition date, included in the consolidated statement of comprehensive income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph q<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_q_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business combination, payments to cancel accounts payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784719648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Business Combinations - Acquisition of Canom (Details) - Cancom Ltd.<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Jul. 29, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Consideration</a></td>
<td class="nump">&#8364; 398<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessCombinationsAdjustmentsOfDebtAndCash', window );">Adjustments of debt and cash</a></td>
<td class="num">(127)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="nump">271<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">108<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate', window );">Property, plant and equipment</a></td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RightOfUseAssetsAsOfAcquisitionDate', window );">Rights of use</a></td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherNonCurrentAssetsAsOfAcquisitionDate', window );">Other non-current assets</a></td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherCurrentAssetsAsOfAcquisitionDate', window );">Other current assets</a></td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate', window );">Deferred tax assets</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate', window );">Cash and cash equivalents</a></td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate', window );">Deferred tax liabilities</a></td>
<td class="num">(27)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate', window );">Other non-current liabilities</a></td>
<td class="num">(140)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherCurrentLiabilitiesAsOfAcquisitionDate', window );">Other current liabilities</a></td>
<td class="num">(49)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Fair value of net assets</a></td>
<td class="num">(13)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate', window );">Goodwill (Note 7)</a></td>
<td class="nump">284<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember', window );">Customer base</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">107<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember', window );">Other intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems', window );"><strong>Disclosure of detailed information about business combination [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for cash and cash equivalents acquired in a business combination. [Refer: Cash and cash equivalents; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax assets acquired in a business combination. [Refer: Deferred tax assets; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfBusinessCombinationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfBusinessCombinationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the business combination's acquisition date for goodwill. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for plant, property and equipment acquired in a business combination. [Refer: Property, plant and equipment; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BusinessCombinationsAdjustmentsOfDebtAndCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Combinations, Adjustments Of Debt And Cash</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BusinessCombinationsAdjustmentsOfDebtAndCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherCurrentAssetsAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Current Assets As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherCurrentAssetsAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherCurrentLiabilitiesAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Current Liabilities As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherCurrentLiabilitiesAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherNonCurrentAssetsAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Non-Current Assets As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherNonCurrentAssetsAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Non-Current Liabilities As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherNonCurrentLiabilitiesAsOfAcquisitionDate</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Right Of Use Assets As Of Acquisition Date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RightOfUseAssetsAsOfAcquisitionDate</td>
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<tr>
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<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember</td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784786064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets - Composition and Movements in Net Intangible Assets (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets other than goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">&#8364; 11,725<span></span>
</td>
<td class="nump">&#8364; 11,488<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">1,530<span></span>
</td>
<td class="nump">2,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="num">(2,599)<span></span>
</td>
<td class="num">(2,388)<span></span>
</td>
<td class="num">&#8364; (2,735)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposals</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(229)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="num">(31)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">204<span></span>
</td>
<td class="nump">215<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">545<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Business combinations</a></td>
<td class="nump">647<span></span>
</td>
<td class="nump">108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">12,017<span></span>
</td>
<td class="nump">11,725<span></span>
</td>
<td class="nump">11,488<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwillIncludingHeldForSaleAndSold', window );">Total additions including additions corresponding to companies held for sale and sold companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,981<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Service concession arrangements and licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets other than goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">7,328<span></span>
</td>
<td class="nump">6,573<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">173<span></span>
</td>
<td class="nump">1,188<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="num">(844)<span></span>
</td>
<td class="num">(725)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="num">(19)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">392<span></span>
</td>
<td class="nump">98<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Business combinations</a></td>
<td class="nump">520<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">7,550<span></span>
</td>
<td class="nump">7,328<span></span>
</td>
<td class="nump">6,573<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets other than goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">2,494<span></span>
</td>
<td class="nump">2,380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">495<span></span>
</td>
<td class="nump">513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="num">(1,337)<span></span>
</td>
<td class="num">(1,226)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="num">(2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">1,011<span></span>
</td>
<td class="nump">828<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">119<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Business combinations</a></td>
<td class="nump">20<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">2,800<span></span>
</td>
<td class="nump">2,494<span></span>
</td>
<td class="nump">2,380<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer base</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets other than goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">971<span></span>
</td>
<td class="nump">1,238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="num">(356)<span></span>
</td>
<td class="num">(376)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Business combinations</a></td>
<td class="nump">105<span></span>
</td>
<td class="nump">107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">721<span></span>
</td>
<td class="nump">971<span></span>
</td>
<td class="nump">1,238<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_BrandNamesMember', window );">Trademarks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets other than goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">276<span></span>
</td>
<td class="nump">512<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="num">(34)<span></span>
</td>
<td class="num">(39)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(210)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">18<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Business combinations</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">263<span></span>
</td>
<td class="nump">276<span></span>
</td>
<td class="nump">512<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets other than goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">42<span></span>
</td>
<td class="nump">51<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">22<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="num">(28)<span></span>
</td>
<td class="num">(22)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposals</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="num">(2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">9<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Business combinations</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">39<span></span>
</td>
<td class="nump">42<span></span>
</td>
<td class="nump">51<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_IntangibleAssetsUnderDevelopmentMember', window );">Intangible assets in process</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets other than goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Beginning balance</a></td>
<td class="nump">614<span></span>
</td>
<td class="nump">734<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">840<span></span>
</td>
<td class="nump">690<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="num">(8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="num">(818)<span></span>
</td>
<td class="num">(807)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Business combinations</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Ending balance</a></td>
<td class="nump">&#8364; 644<span></span>
</td>
<td class="nump">&#8364; 614<span></span>
</td>
<td class="nump">&#8364; 734<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets other than goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to intangible assets other than goodwill, other than those acquired through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation of intangible assets other than goodwill. [Refer: Depreciation and amortisation expense; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_vi&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets other than goodwill resulting from disposals. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for intangible assets other than goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets other than goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_vii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets other than goodwill resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReconciliationOfChangesInIntangibleAssetsOtherThanGoodwillAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwillIncludingHeldForSaleAndSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions other than through business combinations, intangible assets other than goodwill, including held for sale and sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwillIncludingHeldForSaleAndSold</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_BrandNamesMember</td>
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<td></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_IntangibleAssetsUnderDevelopmentMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807953920">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets - Narrative (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">&#8364; 204<span></span>
</td>
<td class="nump">&#8364; 215<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">1,530<span></span>
</td>
<td class="nump">2,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="nump">31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 539<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalGroupMember', window );">Incremental Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaGroupMember', window );">BE-terna Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 77<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Service concession arrangements and licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill', window );">Additions</a></td>
<td class="nump">173<span></span>
</td>
<td class="nump">1,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">173<span></span>
</td>
<td class="nump">1,188<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="nump">19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Service concession arrangements and licenses | Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=tef_LicencesAndComputerSoftwareMember', window );">Licences And Computer Software</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill', window );">Impairments</a></td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Service concession arrangements and licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill', window );">Additions</a></td>
<td class="nump">125<span></span>
</td>
<td class="nump">131<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Service concession arrangements and licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill', window );">Additions</a></td>
<td class="nump">&#8364; 35<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">700<span></span>
</td>
<td class="nump">R$ 4,459<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Service concession arrangements and licenses | ANATEL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">146<span></span>
</td>
<td class="nump">929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Service concession arrangements and licenses | EAF</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">330<span></span>
</td>
<td class="nump">2,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Service concession arrangements and licenses | EACE</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">224<span></span>
</td>
<td class="nump">R$ 1,426<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Service concession arrangements and licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">515<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorMember', window );">Telef&#243;nica M&#243;viles El Salvador | Service concession arrangements and licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 38<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to intangible assets other than goodwill, other than those acquired through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for intangible assets other than goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets other than goodwill resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions other than through business combinations related to companies held-for-sale, intangible assets other than goodwill</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Additionsotherthanthroughbusinesscombinationsrelatedtocompaniesheldforsaleintangibleassetsotherthangoodwill</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_IncrementalGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_BETernaGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=tef_LicencesAndComputerSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefnicaHispamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_ANATELMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_EAFMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784878208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Intangible Assets - Gross Cost, Accumulated Amortization and Impairment Losses of Intangible Assets (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">&#8364; 12,017<span></span>
</td>
<td class="nump">&#8364; 11,725<span></span>
</td>
<td class="nump">&#8364; 11,488<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">40,550<span></span>
</td>
<td class="nump">37,211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(28,345)<span></span>
</td>
<td class="num">(25,355)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(188)<span></span>
</td>
<td class="num">(131)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Service concession arrangements and licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">7,550<span></span>
</td>
<td class="nump">7,328<span></span>
</td>
<td class="nump">6,573<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Service concession arrangements and licenses | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">15,837<span></span>
</td>
<td class="nump">14,456<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Service concession arrangements and licenses | Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(8,123)<span></span>
</td>
<td class="num">(7,007)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Service concession arrangements and licenses | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(164)<span></span>
</td>
<td class="num">(121)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">2,800<span></span>
</td>
<td class="nump">2,494<span></span>
</td>
<td class="nump">2,380<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">17,158<span></span>
</td>
<td class="nump">15,442<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software | Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(14,344)<span></span>
</td>
<td class="num">(12,938)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(14)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer base</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">721<span></span>
</td>
<td class="nump">971<span></span>
</td>
<td class="nump">1,238<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer base | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">5,089<span></span>
</td>
<td class="nump">4,888<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer base | Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(4,368)<span></span>
</td>
<td class="num">(3,917)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer base | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_BrandNamesMember', window );">Trademarks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">263<span></span>
</td>
<td class="nump">276<span></span>
</td>
<td class="nump">512<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_BrandNamesMember', window );">Trademarks | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">944<span></span>
</td>
<td class="nump">901<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_BrandNamesMember', window );">Trademarks | Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(681)<span></span>
</td>
<td class="num">(625)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_BrandNamesMember', window );">Trademarks | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">39<span></span>
</td>
<td class="nump">42<span></span>
</td>
<td class="nump">51<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other intangible assets | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">870<span></span>
</td>
<td class="nump">910<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other intangible assets | Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(829)<span></span>
</td>
<td class="num">(868)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other intangible assets | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">(2)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_IntangibleAssetsUnderDevelopmentMember', window );">Intangible assets in process</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">644<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="nump">&#8364; 734<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_IntangibleAssetsUnderDevelopmentMember', window );">Intangible assets in process | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">652<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_IntangibleAssetsUnderDevelopmentMember', window );">Intangible assets in process | Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_IntangibleAssetsUnderDevelopmentMember', window );">Intangible assets in process | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="num">&#8364; (8)<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember</td>
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<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_BrandNamesMember</td>
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<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489790894896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill - Reconciliation of Goodwill by Group Segment (Details) - Goodwill - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets and goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Beginning balance</a></td>
<td class="nump">&#8364; 16,519<span></span>
</td>
<td class="nump">&#8364; 17,044<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="nump">1,152<span></span>
</td>
<td class="nump">297<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(353)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(416)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill', window );">Transfers</a></td>
<td class="num">(5)<span></span>
</td>
<td class="num">(50)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Exchange rate impact</a></td>
<td class="nump">805<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Ending balance</a></td>
<td class="nump">18,471<span></span>
</td>
<td class="nump">16,519<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets and goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Beginning balance</a></td>
<td class="nump">4,291<span></span>
</td>
<td class="nump">4,299<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Exchange rate impact</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Ending balance</a></td>
<td class="nump">4,291<span></span>
</td>
<td class="nump">4,291<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets and goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Beginning balance</a></td>
<td class="nump">6,278<span></span>
</td>
<td class="nump">6,258<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="nump">695<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(36)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Exchange rate impact</a></td>
<td class="nump">779<span></span>
</td>
<td class="nump">56<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Ending balance</a></td>
<td class="nump">7,752<span></span>
</td>
<td class="nump">6,278<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets and goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Beginning balance</a></td>
<td class="nump">4,386<span></span>
</td>
<td class="nump">4,558<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(172)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Exchange rate impact</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Ending balance</a></td>
<td class="nump">4,386<span></span>
</td>
<td class="nump">4,386<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets and goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Beginning balance</a></td>
<td class="nump">1,166<span></span>
</td>
<td class="nump">1,778<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(137)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(393)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(13)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Exchange rate impact</a></td>
<td class="nump">49<span></span>
</td>
<td class="num">(69)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Ending balance</a></td>
<td class="nump">1,215<span></span>
</td>
<td class="nump">1,166<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Reconciliation of changes in intangible assets and goodwill [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Beginning balance</a></td>
<td class="nump">398<span></span>
</td>
<td class="nump">151<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="nump">457<span></span>
</td>
<td class="nump">297<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(23)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill', window );">Transfers</a></td>
<td class="num">(5)<span></span>
</td>
<td class="num">(37)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill', window );">Exchange rate impact</a></td>
<td class="num">(23)<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Ending balance</a></td>
<td class="nump">&#8364; 827<span></span>
</td>
<td class="nump">&#8364; 398<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets and goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets and goodwill resulting from disposals. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsIntangibleAssetsAndGoodwill</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for intangible assets and goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets and goodwill resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_vii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets and goodwill resulting from transfers. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>debit</td>
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<td>instant</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>130
<FILENAME>R114.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489778079856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Goodwill - Narrative (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1">24 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 09, 2022</div></th>
<th class="th"><div>Mar. 21, 2022</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
<th class="th"><div>Jul. 31, 2021</div></th>
<th class="th"><div>Jul. 01, 2021</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessPlanTerm', window );">Business plan, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BusinessPlanCashFlowTerm', window );">Business plan, cash flow, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OIBDAMarginEstimateTerm', window );">OIBDA margin estimate, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCapitalExpendituresRatio', window );">Long-term capital expenditure (CapEx) ratio (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.80%<span></span>
</td>
<td class="nump">0.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">After-tax discount rates applied to cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.90%<span></span>
</td>
<td class="nump">6.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Minimum | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.25%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Minimum | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.50%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Maximum | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Maximum | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Forecast | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio', window );">OIBDA margin (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Forecast | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio', window );">OIBDA margin (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OIBDAMarginEstimateTerm', window );">OIBDA margin estimate, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">1.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">After-tax discount rates applied to cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.70%<span></span>
</td>
<td class="nump">5.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Minimum | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.25%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Minimum | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.50%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Maximum | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Maximum | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Forecast | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio', window );">OIBDA margin (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Forecast | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio', window );">OIBDA margin (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyAndTelefonicaUnitedKingdomMember', window );">Telef&#243;nica Germany and Telef&#243;nica United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCapitalExpendituresRatio', window );">Long-term capital expenditure (CapEx) ratio (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OIBDAMarginEstimateTerm', window );">OIBDA margin estimate, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">After-tax discount rates applied to cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.60%<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | GDP Growth Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Minimum | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.50%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Minimum | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2.00%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Maximum | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Maximum | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Forecast | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio', window );">OIBDA margin (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCapitalExpendituresRatio', window );">Long-term capital expenditure (CapEx) ratio (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Forecast | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio', window );">OIBDA margin (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember', window );">Telef&#243;nica Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation', window );">Weighted average cost of capital (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember', window );">Telef&#243;nica Peru | Weighted Average Cost of Capital (WACC)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember', window );">Telef&#243;nica Peru | Terminal Growth Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember', window );">Telef&#243;nica Peru | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.25%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember', window );">Telef&#243;nica Peru | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.00%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember', window );">Telef&#243;nica Peru | Investment/Sales Ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA | Telef&#243;nica Chile, S.A. | KKR Alameda Aggregator L.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileMember', window );">Telefonica Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">After-tax discount rates applied to cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileMember', window );">Telefonica Chile | Weighted Average Cost of Capital (WACC)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileMember', window );">Telefonica Chile | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.25%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileMember', window );">Telefonica Chile | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.25%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 116<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileMember', window );">Telefonica Chile | Investment/Sales Ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.63%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileMember', window );">Telefonica Chile | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InflationRate', window );">Inflation rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEcuadorMember', window );">Telef&#243;nica Ecuador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation', window );">Weighted average cost of capital (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate used to extrapolate cash flow projections (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEcuadorMember', window );">Telef&#243;nica Ecuador | Weighted Average Cost of Capital (WACC)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15000.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEcuadorMember', window );">Telef&#243;nica Ecuador | Perpetuity growth rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.25%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEcuadorMember', window );">Telef&#243;nica Ecuador | OIBDA Margin</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.75%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEcuadorMember', window );">Telef&#243;nica Ecuador | Investment/Sales Ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill', window );">Changes in key assumption rate, estimated additional impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,152<span></span>
</td>
<td class="nump">&#8364; 297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(416)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">353<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill | Operating segments | Telef&#243;nica Hispam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(393)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill | Operating segments | Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill | Operating segments | Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill | Operating segments | Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">695<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill | Telef&#243;nica Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(393)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill | Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsAndGoodwill', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill | InfraCo, SpA | Telef&#243;nica Chile, S.A. | KKR Alameda Aggregator L.P. | Operating segments | Telef&#243;nica Hispam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember', window );">Incremental | Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 170<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember', window );">BE-terna | Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="nump">&#8364; 279<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember', window );">Cancom Ltd. | Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 284<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets and goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average of interest and other costs that an entity incurs in connection with the borrowing of funds applicable to the borrowings of the entity that are outstanding during the period, other than borrowings made specifically for the purpose of obtaining a qualifying asset. [Refer: Weighted average [member]; Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 23<br> -IssueDate 2022-03-24<br> -Paragraph 26<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=23&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_26_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The discount rate applied to cash flow projections for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph d<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_d_v&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph e<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_e_v&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph d<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_d_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets and goodwill resulting from disposals. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsIntangibleAssetsAndGoodwill</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for intangible assets and goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Plan, Cash Flow, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BusinessPlanCashFlowTerm</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BusinessPlanTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Plan, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BusinessPlanTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InflationRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inflation Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InflationRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermCapitalExpendituresRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Capital Expenditures Ratio</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermCapitalExpendituresRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OIBDAMarginEstimateTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>OIBDA Margin Estimate, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OIBDAMarginEstimateTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Operating Income Before Depreciation And Amortization Ratio</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OperatingIncomeBeforeDepreciationAndAmortizationRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfVotingEquityTransferedAsConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Voting Equity Transfered As Consideration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfVotingEquityTransferedAsConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Basis Spread On Variable Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisBasisSpreadOnVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Estimated Additional Impairment Of Goodwill</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_VariableRate1Axis=tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_VariableRate1Axis=tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_VariableRate1Axis=tef_OperatingIncomebeforeDepreciationandAmortizationRatioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_VariableRate1Axis=tef_OperatingIncomebeforeDepreciationandAmortizationRatioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementScenarioAxis=srt_ScenarioForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementScenarioAxis=srt_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyAndTelefonicaUnitedKingdomMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyAndTelefonicaUnitedKingdomMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_VariableRate1Axis=tef_GDPGrowthRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_VariableRate1Axis=tef_GDPGrowthRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaPeruMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_VariableRate1Axis=tef_WeightedAverageCostofCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_VariableRate1Axis=tef_WeightedAverageCostofCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_VariableRate1Axis=tef_TerminalGrowthRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_VariableRate1Axis=tef_TerminalGrowthRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_VariableRate1Axis=tef_InvestmentSalesRatioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_VariableRate1Axis=tef_InvestmentSalesRatioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489782505104">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Goodwill - Allocation of Goodwill to Cash-Generating Units (Details) - Goodwill - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">&#8364; 18,471<span></span>
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<td class="nump">&#8364; 16,519<span></span>
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<td class="nump">&#8364; 17,044<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">4,291<span></span>
</td>
<td class="nump">4,291<span></span>
</td>
<td class="nump">4,299<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">7,752<span></span>
</td>
<td class="nump">6,278<span></span>
</td>
<td class="nump">6,258<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">4,386<span></span>
</td>
<td class="nump">4,386<span></span>
</td>
<td class="nump">4,558<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">1,215<span></span>
</td>
<td class="nump">1,166<span></span>
</td>
<td class="nump">1,778<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments | Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">135<span></span>
</td>
<td class="nump">154<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments | Ecuador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">137<span></span>
</td>
<td class="nump">129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">652<span></span>
</td>
<td class="nump">622<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">265<span></span>
</td>
<td class="nump">239<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">23<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments | Others T. Hispam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">827<span></span>
</td>
<td class="nump">398<span></span>
</td>
<td class="nump">&#8364; 151<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Operating segments | Telef&#243;nica Tech UK &amp; Ireland</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">429<span></span>
</td>
<td class="nump">288<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Operating segments | BE-terna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">279<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Operating segments | Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill</a></td>
<td class="nump">&#8364; 119<span></span>
</td>
<td class="nump">&#8364; 110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CO</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_EC</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799529984">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Goodwill - After-Tax Discount Rates Applied to the Cash Flow Projections (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
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<tr class="rh">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">6.50%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax', window );">Before-tax discount rates applied to cash flow projections (as a percent)</a></td>
<td class="nump">16.40%<span></span>
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<td class="nump">15.20%<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfDiscountRatesAppliedToCashFlowProjections', window );">After-tax discount rates applied to cash flow projections (as a percent)</a></td>
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<td class="nump">12.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DiscountRateAppliedToCashFlowProjectionsBeforeTax', window );">Before-tax discount rates applied to cash flow projections (as a percent)</a></td>
<td class="nump">8.00%<span></span>
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<td class="nump">7.20%<span></span>
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<td class="nump">5.70%<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The discount rate applied to cash flow projections for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph d<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_d_v&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph e<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_e_v&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Discount Rate Applied To Cash Flow Projections, Before Tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788488528">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Goodwill - Perpetuity Growth Rate Applied to Cash Flow Projections (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate applied to cash flow projections (as a percent)</a></td>
<td class="nump">0.80%<span></span>
</td>
<td class="nump">0.80%<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate applied to cash flow projections (as a percent)</a></td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections', window );">Growth rate applied to cash flow projections (as a percent)</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">1.10%<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units). [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph d<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_d_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<TEXT>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784314656">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Goodwill - Sensitivity to Changes in Assumptions (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_VariableRate1Axis=tef_GrowthRateUsedToExtrapolateCashFlowProjectionsMember', window );">Perpetuity growth rates | Telef&#243;nica Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="num">(0.25%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_VariableRate1Axis=tef_OperatingIncomebeforeDepreciationandAmortizationRatioMember', window );">OIBDA Margin | Telef&#243;nica Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="num">(1.00%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Discount rate | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.50%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Discount rate | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Perpetuity growth rates | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.25%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Perpetuity growth rates | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | OIBDA Margin | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.50%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | OIBDA Margin | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Ratio of CapEx/Revenues | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.75%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Ratio of CapEx/Revenues | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.75%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Discount rate | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.50%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Discount rate | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Perpetuity growth rates | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.25%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Perpetuity growth rates | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | OIBDA Margin | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.50%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | OIBDA Margin | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Ratio of CapEx/Revenues | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.75%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Ratio of CapEx/Revenues | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.75%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Discount rate | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.00%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Discount rate | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Perpetuity growth rates | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.50%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Perpetuity growth rates | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | OIBDA Margin | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2.00%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | OIBDA Margin | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Ratio of CapEx/Revenues | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.00%)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Ratio of CapEx/Revenues | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems', window );"><strong>Disclosure of detailed information about intangible assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Change in key assumption rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfIntangibleAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfIntangibleAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Basis Spread On Variable Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisBasisSpreadOnVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787566768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, Plant and Equipment - Composition of and Movement in Net Property, Plant and Equipment (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Reconciliation of changes in property, plant and equipment [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">&#8364; 22,725<span></span>
</td>
<td class="nump">&#8364; 23,769<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">4,289<span></span>
</td>
<td class="nump">3,880<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(4,133)<span></span>
</td>
<td class="num">(4,360)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(63)<span></span>
</td>
<td class="num">(66)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment', window );">Impair-ments</a></td>
<td class="num">(59)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="num">(209)<span></span>
</td>
<td class="num">(416)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">1,127<span></span>
</td>
<td class="nump">291<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combina-tions</a></td>
<td class="nump">37<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Business Sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(383)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">23,714<span></span>
</td>
<td class="nump">22,725<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Additionspropertyplantandequipment', window );">Total additions of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,286<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember', window );">Land and buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Reconciliation of changes in property, plant and equipment [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">2,660<span></span>
</td>
<td class="nump">2,829<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">25<span></span>
</td>
<td class="nump">22<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(216)<span></span>
</td>
<td class="num">(241)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(22)<span></span>
</td>
<td class="num">(37)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment', window );">Impair-ments</a></td>
<td class="num">(12)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="nump">104<span></span>
</td>
<td class="nump">141<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">97<span></span>
</td>
<td class="nump">31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combina-tions</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Business Sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(85)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">2,641<span></span>
</td>
<td class="nump">2,660<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MachineryMember', window );">Plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Reconciliation of changes in property, plant and equipment [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">17,752<span></span>
</td>
<td class="nump">18,676<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">1,323<span></span>
</td>
<td class="nump">1,249<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(3,707)<span></span>
</td>
<td class="num">(3,893)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(28)<span></span>
</td>
<td class="num">(11)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment', window );">Impair-ments</a></td>
<td class="num">(43)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="nump">1,908<span></span>
</td>
<td class="nump">1,780<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">933<span></span>
</td>
<td class="nump">236<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combina-tions</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Business Sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(297)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">18,165<span></span>
</td>
<td class="nump">17,752<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember', window );">Furniture, tools and other items</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Reconciliation of changes in property, plant and equipment [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">552<span></span>
</td>
<td class="nump">623<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">90<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(210)<span></span>
</td>
<td class="num">(226)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment', window );">Impair-ments</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="nump">132<span></span>
</td>
<td class="nump">56<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combina-tions</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Business Sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">576<span></span>
</td>
<td class="nump">552<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember', window );">PP&amp;E in progress</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Reconciliation of changes in property, plant and equipment [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at beginning of period</a></td>
<td class="nump">1,761<span></span>
</td>
<td class="nump">1,641<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="nump">2,867<span></span>
</td>
<td class="nump">2,519<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(12)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment', window );">Impair-ments</a></td>
<td class="num">(3)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="num">(2,353)<span></span>
</td>
<td class="num">(2,393)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">71<span></span>
</td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combina-tions</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Business Sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment at end of period</a></td>
<td class="nump">&#8364; 2,332<span></span>
</td>
<td class="nump">&#8364; 1,761<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in property, plant and equipment resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from the loss of control of a subsidiary. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of property, plant and equipment. [Refer: Depreciation and amortisation expense; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause vii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_vii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 75<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_75_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationPropertyPlantAndEquipment</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsPropertyPlantAndEquipment</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in other comprehensive income for property, plant and equipment. [Refer: Impairment loss recognised in other comprehensive income; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
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<td>instant</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions, property, plant and equipment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781047840">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, Plant and Equipment - Narrative (Details)<br> &#8364; in Millions, premise in Millions, home in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Dec. 15, 2022 </div>
<div>home</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>premise</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>center</div>
</th>
<th class="th">
<div>Jul. 21, 2021 </div>
<div>center</div>
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<th class="th">
<div>May 07, 2021 </div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Investments in property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,289<span></span>
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<td class="nump">&#8364; 3,880<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfPremisesCoveredByFiberOptic', window );">Number of premises covered by fiber optic roll out | home</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_A5GNetworkPopulationCoveragePercentage', window );">5G network population coverage (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85.00%<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 59<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions through business combinations, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37<span></span>
</td>
<td class="nump">15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(209)<span></span>
</td>
<td class="num">(416)<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Decrease through loss of control of subsidiary, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 383<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Asterion Industrial Partners SGEIC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfDataCentersSold', window );">Number of data centers sold | center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Asterion Industrial Partners SGEIC | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfDataCentersSold', window );">Number of data centers sold | center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Investments in property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,288<span></span>
</td>
<td class="nump">&#8364; 1,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfPremisesCoveredByFiberOptic', window );">Number of premises covered by fiber optic roll out | premise</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Investments in property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">366<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Investments in property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 854<span></span>
</td>
<td class="nump">913<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfPopulationCoveredIn5GNetwork', window );">Population coverage by 5G networks (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Investments in property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,277<span></span>
</td>
<td class="nump">1,049<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfPopulationCoveredIn4GNetwork', window );">Population covered in 4G network (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">96.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfPremisesCoveredByFTTHNetwork', window );">Number of premises covered by FTTH network | premise</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Investments in property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 732<span></span>
</td>
<td class="nump">680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaMexicoMember', window );">Telef&#243;nica M&#233;xico</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInDepreciationPropertyPlantAndEquipment', window );">Increase (decrease) in depreciation, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelxiusGroupMember', window );">Telxius Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaArgentinaMember', window );">Telef&#243;nica Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment', window );">Impairment loss recognised in other comprehensive income, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">56<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_CancomLtdMember', window );">Cancom Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions through business combinations, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Decrease through loss of control of subsidiary, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Decrease through loss of control of subsidiary, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OiGroupMember', window );">Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions through business combinations, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_IncrementalMember', window );">Incremental</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions through business combinations, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaMember', window );">BE-terna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions through business combinations, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=tef_DataCentersMember', window );">Deferred collection sale of T. Ireland | InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Decrease through loss of control of subsidiary, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=tef_DataCentersMember', window );">Deferred collection sale of T. Ireland | Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment', window );">Decrease through loss of control of subsidiary, property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in property, plant and equipment resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from the loss of control of a subsidiary. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in other comprehensive income for property, plant and equipment. [Refer: Impairment loss recognised in other comprehensive income; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_A5GNetworkPopulationCoveragePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>5G Network Population Coverage, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_A5GNetworkPopulationCoveragePercentage</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInDepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) in depreciation, property, plant and equipment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInDepreciationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfDataCentersSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Data Centers Sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfDataCentersSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfPremisesCoveredByFTTHNetwork">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Premises Covered By FTTH Network</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfPremisesCoveredByFTTHNetwork</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfPremisesCoveredByFiberOptic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Premises Covered By Fiber Optic</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfPremisesCoveredByFiberOptic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfPopulationCoveredIn4GNetwork">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Population Covered In 4G Network</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfPopulationCoveredIn4GNetwork</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfPopulationCoveredIn5GNetwork">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Population Covered In 5G Network</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfPopulationCoveredIn5GNetwork</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaInfraSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_AsterionIndustrialPartnersSGEICMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_AsterionIndustrialPartnersSGEICMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaMexicoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaMexicoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelxiusGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelxiusGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaArgentinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaArgentinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_CancomLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_CancomLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OiGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OiGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_IncrementalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784324208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Property, Plant and Equipment - Gross Cost, Accumulated Depreciation and Impairment Losses of Property, Plant and Equipment (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">&#8364; 23,714<span></span>
</td>
<td class="nump">&#8364; 22,725<span></span>
</td>
<td class="nump">&#8364; 23,769<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">107,916<span></span>
</td>
<td class="nump">101,874<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(83,683)<span></span>
</td>
<td class="num">(78,751)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(519)<span></span>
</td>
<td class="num">(398)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember', window );">Land and buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">2,641<span></span>
</td>
<td class="nump">2,660<span></span>
</td>
<td class="nump">2,829<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember', window );">Land and buildings | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">9,097<span></span>
</td>
<td class="nump">8,624<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember', window );">Land and buildings | Accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(6,375)<span></span>
</td>
<td class="num">(5,905)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember', window );">Land and buildings | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(81)<span></span>
</td>
<td class="num">(59)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MachineryMember', window );">Plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">18,165<span></span>
</td>
<td class="nump">17,752<span></span>
</td>
<td class="nump">18,676<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MachineryMember', window );">Plant and machinery | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">91,319<span></span>
</td>
<td class="nump">86,779<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MachineryMember', window );">Plant and machinery | Accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(72,742)<span></span>
</td>
<td class="num">(68,713)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_MachineryMember', window );">Plant and machinery | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(412)<span></span>
</td>
<td class="num">(314)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember', window );">Furniture, tools and other items</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">576<span></span>
</td>
<td class="nump">552<span></span>
</td>
<td class="nump">623<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember', window );">Furniture, tools and other items | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">5,157<span></span>
</td>
<td class="nump">4,697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="num">(4,566)<span></span>
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<td class="num">(4,133)<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember', window );">Furniture, tools and other items | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">(15)<span></span>
</td>
<td class="num">(12)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember', window );">PP&amp;E in progress</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="nump">1,761<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">2,343<span></span>
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<td class="nump">1,774<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember', window );">PP&amp;E in progress | Accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember', window );">PP&amp;E in progress | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems', window );"><strong>Disclosure of detailed information about property, plant and equipment [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="num">&#8364; (11)<span></span>
</td>
<td class="num">&#8364; (13)<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784888768">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Rights of Use - Movements of Rights of Use (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">2,448<span></span>
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<td class="nump">1,979<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Amortization</a></td>
<td class="num">(2,064)<span></span>
</td>
<td class="num">(1,649)<span></span>
</td>
<td class="num">&#8364; (1,602)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Disposalsrightofuseassets', window );">Disposals</a></td>
<td class="num">(57)<span></span>
</td>
<td class="num">(221)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">111<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Transfersandothersrightofuseassets', window );">Transfers and others</a></td>
<td class="nump">20<span></span>
</td>
<td class="nump">48<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Translationdifferencesandhyperinflationrightofuseassets', window );">Translation differences and hyperinflation</a></td>
<td class="nump">282<span></span>
</td>
<td class="nump">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at end of period</a></td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
<td class="nump">4,982<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies', window );">Additions to right-of-use assets including companies held for sale and the sale of companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandMember', window );">Rights of use on land and natural properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MovementofRightofUseAssetsRollForward', window );"><strong>Movement of Right-of-Use Assets [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at beginning of period</a></td>
<td class="nump">793<span></span>
</td>
<td class="nump">762<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Additions</a></td>
<td class="nump">367<span></span>
</td>
<td class="nump">316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SaleOfDisposalGroupsRightOfUseAssets', window );">Sale of the towers division of Telxius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(85)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Amortization</a></td>
<td class="num">(279)<span></span>
</td>
<td class="num">(191)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Disposalsrightofuseassets', window );">Disposals</a></td>
<td class="num">(7)<span></span>
</td>
<td class="num">(15)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Transfersandothersrightofuseassets', window );">Transfers and others</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Translationdifferencesandhyperinflationrightofuseassets', window );">Translation differences and hyperinflation</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at end of period</a></td>
<td class="nump">885<span></span>
</td>
<td class="nump">793<span></span>
</td>
<td class="nump">762<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_BuildingsMember', window );">Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MovementofRightofUseAssetsRollForward', window );"><strong>Movement of Right-of-Use Assets [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at beginning of period</a></td>
<td class="nump">3,561<span></span>
</td>
<td class="nump">2,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Additions</a></td>
<td class="nump">1,402<span></span>
</td>
<td class="nump">776<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SaleOfDisposalGroupsRightOfUseAssets', window );">Sale of the towers division of Telxius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Amortization</a></td>
<td class="num">(1,139)<span></span>
</td>
<td class="num">(1,012)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Disposalsrightofuseassets', window );">Disposals</a></td>
<td class="num">(29)<span></span>
</td>
<td class="num">(94)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">110<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Transfersandothersrightofuseassets', window );">Transfers and others</a></td>
<td class="nump">11<span></span>
</td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Translationdifferencesandhyperinflationrightofuseassets', window );">Translation differences and hyperinflation</a></td>
<td class="nump">236<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at end of period</a></td>
<td class="nump">4,130<span></span>
</td>
<td class="nump">3,561<span></span>
</td>
<td class="nump">2,819<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=tef_PlantandMachineryMember', window );">Rights of use on plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MovementofRightofUseAssetsRollForward', window );"><strong>Movement of Right-of-Use Assets [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at beginning of period</a></td>
<td class="nump">3,024<span></span>
</td>
<td class="nump">1,238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Additions</a></td>
<td class="nump">596<span></span>
</td>
<td class="nump">796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SaleOfDisposalGroupsRightOfUseAssets', window );">Sale of the towers division of Telxius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,478<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Amortization</a></td>
<td class="num">(574)<span></span>
</td>
<td class="num">(382)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Disposalsrightofuseassets', window );">Disposals</a></td>
<td class="num">(19)<span></span>
</td>
<td class="num">(109)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Transfersandothersrightofuseassets', window );">Transfers and others</a></td>
<td class="nump">5<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Translationdifferencesandhyperinflationrightofuseassets', window );">Translation differences and hyperinflation</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at end of period</a></td>
<td class="nump">3,037<span></span>
</td>
<td class="nump">3,024<span></span>
</td>
<td class="nump">1,238<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember', window );">Other rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MovementofRightofUseAssetsRollForward', window );"><strong>Movement of Right-of-Use Assets [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at beginning of period</a></td>
<td class="nump">201<span></span>
</td>
<td class="nump">163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsToRightofuseAssets', window );">Additions</a></td>
<td class="nump">83<span></span>
</td>
<td class="nump">91<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SaleOfDisposalGroupsRightOfUseAssets', window );">Sale of the towers division of Telxius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Amortization</a></td>
<td class="num">(72)<span></span>
</td>
<td class="num">(64)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Disposalsrightofuseassets', window );">Disposals</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Transfersandothersrightofuseassets', window );">Transfers and others</a></td>
<td class="num">(11)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Translationdifferencesandhyperinflationrightofuseassets', window );">Translation differences and hyperinflation</a></td>
<td class="nump">5<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Right-of-use assets at end of period</a></td>
<td class="nump">&#8364; 227<span></span>
</td>
<td class="nump">&#8364; 201<span></span>
</td>
<td class="nump">&#8364; 163<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsToRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to right-of-use assets. [Refer: Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsToRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions to right-of-use assets including companies held for sale and the sale of companies</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Disposalsrightofuseassets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposals, right-of-use assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Disposalsrightofuseassets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InclusionOfCompaniesRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inclusion Of Companies, Right-Of-Use Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InclusionOfCompaniesRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_MovementofRightofUseAssetsRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Movement of Right-of-Use Assets [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_MovementofRightofUseAssetsRollForward</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SaleOfDisposalGroupsRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sale Of Disposal Groups, Right-Of-Use Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SaleOfDisposalGroupsRightOfUseAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Transfersandothersrightofuseassets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfers and others, right-of-use assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Transfersandothersrightofuseassets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Translationdifferencesandhyperinflationrightofuseassets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Translation differences and hyperinflation, right-of-use assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Translationdifferencesandhyperinflationrightofuseassets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_BuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_BuildingsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=tef_PlantandMachineryMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787183888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Rights of Use - Narrative (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">&#8364; 111<span></span>
</td>
<td class="nump">&#8364; 8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
<td class="nump">&#8364; 4,982<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SaleOfDisposalGroupsRightOfUseAssets', window );">Right-of-use assets, sale of disposal group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Transfersandothersrightofuseassets', window );">Transfers and others</a></td>
<td class="nump">20<span></span>
</td>
<td class="nump">48<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalGroupLimitedMember', window );">Incremental Group Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember', window );">BE-terna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember', window );">Cancom Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InclusionOfCompaniesRightOfUseAssets', window );">Business combinations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaMovilesElSalvadorS.A.deC.V.Member', window );">Telef&#243;nica El Salvador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Transfersandothersrightofuseassets', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaMexicoMember', window );">Telef&#243;nica M&#233;xico</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInDepreciationRightOfUseAssets', window );">Increase in amortization, right-of-use assets</a></td>
<td class="nump">&#8364; 17<span></span>
</td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelxiusGroupMember', window );">Telxius Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,633<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SaleOfDisposalGroupsRightOfUseAssets', window );">Right-of-use assets, sale of disposal group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 133<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InclusionOfCompaniesRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inclusion Of Companies, Right-Of-Use Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InclusionOfCompaniesRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInDepreciationRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) in depreciation, right-of-use assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInDepreciationRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SaleOfDisposalGroupsRightOfUseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sale Of Disposal Groups, Right-Of-Use Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SaleOfDisposalGroupsRightOfUseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Transfersandothersrightofuseassets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfers and others, right-of-use assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Transfersandothersrightofuseassets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalGroupLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_IncrementalGroupLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_BETernaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaMovilesElSalvadorS.A.deC.V.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaMovilesElSalvadorS.A.deC.V.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780590256">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Rights of Use - Gross Costs, Accumulated Depreciation, and Impairment Losses of Rights of Use (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">&#8364; 8,279<span></span>
</td>
<td class="nump">&#8364; 7,579<span></span>
</td>
<td class="nump">&#8364; 4,982<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandMember', window );">Rights of use on land and natural properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">885<span></span>
</td>
<td class="nump">793<span></span>
</td>
<td class="nump">762<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_BuildingsMember', window );">Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">4,130<span></span>
</td>
<td class="nump">3,561<span></span>
</td>
<td class="nump">2,819<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=tef_PlantandMachineryMember', window );">Rights of use on plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">3,037<span></span>
</td>
<td class="nump">3,024<span></span>
</td>
<td class="nump">1,238<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember', window );">Other rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">227<span></span>
</td>
<td class="nump">201<span></span>
</td>
<td class="nump">&#8364; 163<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">15,005<span></span>
</td>
<td class="nump">12,112<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross cost | Rights of use on land and natural properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">1,923<span></span>
</td>
<td class="nump">1,491<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross cost | Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">8,053<span></span>
</td>
<td class="nump">6,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross cost | Rights of use on plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">4,560<span></span>
</td>
<td class="nump">4,003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross cost | Other rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">469<span></span>
</td>
<td class="nump">404<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="num">(6,726)<span></span>
</td>
<td class="num">(4,533)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Rights of use on land and natural properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="num">(1,038)<span></span>
</td>
<td class="num">(698)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="num">(3,923)<span></span>
</td>
<td class="num">(2,653)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Rights of use on plant and machinery</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="num">(1,523)<span></span>
</td>
<td class="num">(979)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Other rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems', window );"><strong>Disclosure of quantitative information about right-of-use assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="num">&#8364; (242)<span></span>
</td>
<td class="num">&#8364; (203)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_LandMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_BuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_BuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=tef_PlantandMachineryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=tef_PlantandMachineryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_OtherAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>141
<FILENAME>R125.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489800144880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Rights of Use - Expenses Related to Leases Included in Operating Results and Income from Subleasing Right-of-Use Assets (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RightsofUseAbstract', window );"><strong>Rights of Use [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Expenserelatedtoshorttermleasesincludedinoperatingresultsassupplies', window );">Short-term leases included in operating results as supplies</a></td>
<td class="nump">&#8364; 22<span></span>
</td>
<td class="nump">&#8364; 23<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpenseRelatedToVariableLeasesNotIncludedInTheMeasurementOfLeaseLiabilities', window );">Variable lease payments not included in the measurement of lease liabilities</a></td>
<td class="nump">17<span></span>
</td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpenseRelatedToLeasesIncludedInOperatingResultsAsSupplies', window );">Total expenses as supplies</a></td>
<td class="nump">39<span></span>
</td>
<td class="nump">41<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases', window );">Short-term leases included in external services</a></td>
<td class="nump">52<span></span>
</td>
<td class="nump">39<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets', window );">Leases of low-value assets included in external services</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother', window );">Variable lease payments not included in the measurement of lease liabilities</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservices', window );">Total expenses as external services (Note 26)</a></td>
<td class="nump">86<span></span>
</td>
<td class="nump">80<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpenseRelatedToLeasesIncludedInOperatingResults', window );">Total lease expenses</a></td>
<td class="nump">&#8364; 125<span></span>
</td>
<td class="nump">&#8364; 121<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExpenseRelatedToLeasesIncludedInOperatingResults">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expense Related To Leases Included In Operating Results</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExpenseRelatedToLeasesIncludedInOperatingResults</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExpenseRelatedToLeasesIncludedInOperatingResultsAsSupplies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expense related to leases included in operating results as supplies</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExpenseRelatedToLeasesIncludedInOperatingResultsAsSupplies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExpenseRelatedToVariableLeasesNotIncludedInTheMeasurementOfLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expense related to variable leases not included in the measurement of lease liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExpenseRelatedToVariableLeasesNotIncludedInTheMeasurementOfLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expense related to leases included in operating results as external services</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalservices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expense related to leases included in operating results as external services, low-value assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expense related to leases included in operating results as external services, short-term leases</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expense related to short-term leases included in operating results as supplies</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784911760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Associates and Joint Ventures - Disclosure of Investments Accounted for Using Equity Method (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 29, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Jul. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,522<span></span>
</td>
<td class="nump">&#8364; 11,275<span></span>
</td>
<td class="nump">&#8364; 12,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">230<span></span>
</td>
<td class="num">(132)<span></span>
</td>
<td class="num">&#8364; (3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">251<span></span>
</td>
<td class="nump">312<span></span>
</td>
<td class="nump">251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13)<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="nump">11,587<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">217<span></span>
</td>
<td class="num">(127)<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract', window );"><strong>Investments accounted for by the equity method</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for using equity method at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Translation differences and other comprehensive income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,562<span></span>
</td>
<td class="nump">4,098<span></span>
</td>
<td class="num">(7,236)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for using equity method at ending of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="nump">11,587<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember', window );">Associates and Joint Ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="nump">11,587<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="nump">427<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract', window );"><strong>Investments accounted for by the equity method</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for using equity method at beginning of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="nump">427<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">181<span></span>
</td>
<td class="nump">12,329<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InvestmentsInSubsidiariesJointVenturesAndAssociatesDisposals', window );">Disposals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Translation differences and other comprehensive income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(646)<span></span>
</td>
<td class="nump">350<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">(Loss) income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">217<span></span>
</td>
<td class="num">(127)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDistributionsJointVenturesAndAssociates', window );">Dividends</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(920)<span></span>
</td>
<td class="num">(198)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransferfromtoInvestmentsEquityMethodInvestments', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for using equity method at ending of period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="nump">&#8364; 11,587<span></span>
</td>
<td class="nump">12,773<span></span>
</td>
<td class="nump">427<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_DaytonaMidcoSLMember', window );">Daytona Midco SL.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">81<span></span>
</td>
<td class="nump">&#8364; 120<span></span>
</td>
<td class="nump">81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract', window );"><strong>Investments accounted for by the equity method</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AdquiraEspanaSAMember', window );">Adquira Espa&#241;a, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44.44%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="nump">&#8364; 79<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">&#8364; 12<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (15)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InternetParaTodosSACMember', window );">Internet para todos S.A.C</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54.67%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">52<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">52<span></span>
</td>
<td class="nump">&#8364; 55<span></span>
</td>
<td class="nump">52<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (3)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringEspanaSAMember', window );">Telef&#243;nica Factoring Espa&#241;a, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">&#8364; 7<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringDoBrasilLtdMember', window );">Telef&#243;nica Factoring do Brasil, Ltda.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">&#8364; 3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringPeruSACMember', window );">Telef&#243;nica Factoring Peru, S.A.C.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringColombiaSAMember', window );">Telef&#243;nica Factoring Colombia, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringMexicoSAdeCVSOFOMENRMember', window );">Telef&#243;nica Factoring M&#233;xico,S.A. de C.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringChileSpAMember', window );">Telef&#243;nica Factoring Chile, SpA.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringEcuadorSAMember', window );">Telefonica Factoring Ecuador, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember', window );">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19<span></span>
</td>
<td class="nump">&#8364; 19<span></span>
</td>
<td class="nump">19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_MovistarConsumerFinanceColombiaSASMember', window );">Movistar Consumer Finance Colombia SAS.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_OtherAssociatesMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (2)<span></span>
</td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,129<span></span>
</td>
<td class="nump">&#8364; 10,779<span></span>
</td>
<td class="nump">&#8364; 12,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(103)<span></span>
</td>
<td class="nump">292<span></span>
</td>
<td class="num">(103)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract', window );"><strong>Investments accounted for by the equity method</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_ProsegurAlarmasEspaaSLMember', window );">Movistar Prosegur Alarmas</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="nump">&#8364; 252<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (12)<span></span>
</td>
<td class="num">&#8364; (2)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">68<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">68<span></span>
</td>
<td class="nump">&#8364; 79<span></span>
</td>
<td class="nump">&#8364; 68<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (8)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_UnsereGrneGlasfaserGmbHCoKGMember', window );">Unsere Gr&#252;ne Glasfaser</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53<span></span>
</td>
<td class="nump">&#8364; 108<span></span>
</td>
<td class="nump">53<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (64)<span></span>
</td>
<td class="num">(25)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_OpalJvcoLimitedMember', window );">Opal Jvco Limited (nexfibre)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">&#8364; 55<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_OtherJointVenturesMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments in joint ventures accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 9<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (4)<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 2<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity through changes in ownership interests in subsidiaries that do not result in loss of control. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B16&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsAccountedForUsingEquityMethodAbstract</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in joint ventures accounted for using the equity method. [Refer: Joint ventures [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, after reclassification adjustments, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39M<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) from continuing operations of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Continuing operations [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B16<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B16_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DecreaseThroughDistributionsJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease Through Distributions, Joint Ventures And Associates</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DecreaseThroughDistributionsJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Disclosure Of Joint Ventures And Associates [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureOfJointVenturesAndAssociatesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InvestmentsInSubsidiariesJointVenturesAndAssociatesDisposals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investments In Subsidiaries, Joint Ventures And Associates, Disposals</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InvestmentsInSubsidiariesJointVenturesAndAssociatesDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TransferfromtoInvestmentsEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfer from (to) Investments, Equity Method Investments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TransferfromtoInvestmentsEquityMethodInvestments</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_DaytonaMidcoSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_DaytonaMidcoSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AdquiraEspanaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AdquiraEspanaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AlamoHoldCoSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AlamoHoldCoSLMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InternetParaTodosSACMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InternetParaTodosSACMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringEspanaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringEspanaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringDoBrasilLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_TelefonicaFactoringDoBrasilLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<th class="th" colspan="3">1 Months Ended</th>
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<th class="th" colspan="6">12 Months Ended</th>
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<div>EUR (&#8364;)</div>
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<div>GBP (&#163;)</div>
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<div>Sep. 30, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Sep. 30, 2022 </div>
<div>GBP (&#163;)</div>
</th>
<th class="th"><div>Jul. 29, 2022</div></th>
<th class="th">
<div>Jun. 30, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Jun. 30, 2022 </div>
<div>GBP (&#163;)</div>
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<th class="th">
<div>Jan. 12, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Jan. 12, 2022 </div>
<div>USD ($)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<div>Jul. 02, 2021 </div>
<div>EUR (&#8364;)</div>
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<div>Jul. 02, 2021 </div>
<div>BRL (R$)</div>
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<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<div>Dec. 31, 2021 </div>
<div>GBP (&#163;)</div>
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<th class="th">
<div>Jul. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th"><div>Dec. 31, 2023</div></th>
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<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
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<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<div>Dec. 31, 2021 </div>
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<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
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<div>Dec. 31, 2021 </div>
<div>GBP (&#163;)</div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Gains (losses) on remeasurements of defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 70<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 487<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 33<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionDiscountRatePercentage', window );">Valuation assumption, discount rate (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.30%<span></span>
</td>
<td class="nump">7.30%<span></span>
</td>
<td class="nump">6.90%<span></span>
</td>
<td class="nump">6.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionPerpetuityGrowthRatePercentage', window );">Valuation assumption, perpetuity growth rate (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionWeightedAverageCostOfCapitalIncreaseDecrease', window );">Valuation assumption, weighted average cost of capital, increase (decrease)</a></td>
<td class="nump">0.18%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.18%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionPerpetuityGrowthRateIncreaseDecrease', window );">Valuation assumption, perpetuity growth rate, increase (decrease)</a></td>
<td class="num">(0.22%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.22%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionIncreaseDecreaseInEBITDAMargin', window );">Valuation assumption, increase (decrease) in EBITDA margin</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionIncreaseDecreaseInLongTermInvestmentRatio', window );">Valuation assumption, increase (decrease) in long term investment ratio</a></td>
<td class="nump">1.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfPremisesCoveredByFiberOptic', window );">Number of premises covered by fiber optic roll out | home</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic', window );">Number of additional possible premises covered by fiber optic | home</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 39,993<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 39,277<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,076<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_DaytonaMidcoSLMember', window );">Daytona Midco SL.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
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<td class="nump">&#8364; 81<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
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<td class="nump">13.94%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpensesFromOperationsWithAssociatesAndJointVentures', window );">Expenses from operations with associates and joint ventures</a></td>
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<td class="nump">121<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L.</a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RevenueFromOperationsWithAssociatesAndJointVentures', window );">Revenue from operations with associates and joint ventures</a></td>
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<td class="nump">88<span></span>
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<td class="nump">&#8364; 52<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpensesFromOperationsWithAssociatesAndJointVentures', window );">Expenses from operations with associates and joint ventures</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">39<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_OnnetFibraColombiaSASMember', window );">Onnet Fibra Colombia S.A.S.</a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RevenueFromOperationsWithAssociatesAndJointVentures', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">97<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaChileS.A.Member', window );">Telef&#243;nica Chile, S.A. | InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionOfOwnershipInterestInJointVentureDisposal', window );">Proportion of ownership interest in joint venture, disposal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaChileS.A.Member', window );">Telef&#243;nica Chile, S.A. | InfraCo, SpA | Loans and receivables, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCreditsToAssociatesAndJointVentures', window );">Long-term credits to associates and joint ventures</a></td>
<td class="nump">&#8364; 75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaColombiaMember', window );">Telefonica Colombia | KKR Alameda Aggregator L.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ConsiderationPaidReceived', window );">Consideration received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 165<span></span>
</td>
<td class="nump">$ 187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesS.A.ESPMember', window );">Colombia Telecomunicaciones, S.A., ESP | Alamo HoldCo S.L. and Onnet Fibra Colombia SAS | Loans and receivables, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCreditsToAssociatesAndJointVentures', window );">Long-term credits to associates and joint ventures</a></td>
<td class="nump">82<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">82<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesS.A.ESPMember', window );">Colombia Telecomunicaciones, S.A., ESP | Alamo HoldCo S.L. and Onnet Fibra Colombia SAS | Trade receivables</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCreditsToAssociatesAndJointVentures', window );">Long-term credits to associates and joint ventures</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesS.A.ESPMember', window );">Colombia Telecomunicaciones, S.A., ESP | Onnet Fibra Colombia S.A.S.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermContractualLiabilitiesToAssociatesAndJointVentures', window );">Long-term contractual liabilities to associates and joint ventures</a></td>
<td class="nump">82<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
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<td class="nump">&#8364; 75<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
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<td class="nump">60.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA | Telef&#243;nica Chile, S.A. | KKR Alameda Aggregator L.P.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProsegurSolucionesSAUMember', window );">Prosegur Soluciones S.A.U. | Movistar Prosegur Alarmas</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionOfOwnershipInterestInEquityMethodInvestment', window );">Proportion of ownership interest in equity method investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L. | Telefonica Colombia | KKR Alameda Aggregator L.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ConsiderationPaidReceived', window );">Consideration received | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment', window );">Gains (losses) on disposals of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 162<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfShareCapitalAcquired', window );">Proportion of share capital acquired (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_DaytonaMidcoSLMember', window );">Daytona Midco SL. | Telefonica Indra, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_DaytonaMidcoSLMember', window );">Daytona Midco SL. | Telefonica Indra, S.L. | Asterion Industrial Partners SGEIC</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfShareCapitalAcquired', window );">Proportion of share capital acquired (as a percent)</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UnsereGrneGlasfaserGmbHCoKGMember', window );">Unsere Gr&#252;ne Glasfaser</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UnsereGrneGlasfaserGmbHCoKGMember', window );">Unsere Gr&#252;ne Glasfaser | Derivative instruments</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax', window );">Gains (losses) on exchange differences on translation of foreign operations, net of tax</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax', window );">Gains (losses) on exchange differences on translation of foreign operations, net of tax</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">627<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans', window );">Gains (losses) on remeasurements of defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="nump">&#8364; 106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementScenarioAxis=srt_ScenarioForecastMember', window );">Forecast | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionRevenueGrowthRatePercentage', window );">Valuation assumption, revenue growth rate (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionEBITDAMarginPercentage', window );">Valuation assumption, EBITDA margin (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionLongTermCapitalExpenditureRatioPercentage', window );">Valuation assumption, long-term capital expenditure ratio (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementScenarioAxis=srt_ScenarioForecastMember', window );">Forecast | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionRevenueGrowthRatePercentage', window );">Valuation assumption, revenue growth rate (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionEBITDAMarginPercentage', window );">Valuation assumption, EBITDA margin (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ValuationAssumptionLongTermCapitalExpenditureRatioPercentage', window );">Valuation assumption, long-term capital expenditure ratio (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_OpalJvcoLimitedMember', window );">Opal Jvco Limited (nexfibre)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_OpalJvcoLimitedMember', window );">Opal Jvco Limited (nexfibre) | InfraVia Capital Partners</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities', window );">Dividends received from joint ventures, classified as investing activities</a></td>
<td class="nump">439<span></span>
</td>
<td class="nump">&#163; 385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 324<span></span>
</td>
<td class="nump">&#163; 290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 146<span></span>
</td>
<td class="nump">&#163; 125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 187<span></span>
</td>
<td class="nump">&#163; 161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 909<span></span>
</td>
<td class="nump">&#163; 800<span></span>
</td>
<td class="nump">&#8364; 187<span></span>
</td>
<td class="nump">&#163; 161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfPremisesPassed', window );">Number of premises passed | premise</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.1<span></span>
</td>
<td class="nump">16.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfCitiesWith5GNetwork', window );">Number of cities with 5G network | city</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600<span></span>
</td>
<td class="nump">1,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">&#8364; 6,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 7,223<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2 | O2 Holdings Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2 | Forecast</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfPopulationCoveredIn5GNetwork', window );">Population coverage by 5G networks (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A. | Telef&#243;nica Infra, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A. | Telefonica Brasil, S.A. &amp; FiBrasil Infraestructura e Fibra Otica S.A. | Telef&#243;nica Infra, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A. | Telefonica Brasil, S.A. &amp; FiBrasil Infraestructura e Fibra Otica S.A. | Caisse de depot et placement du Quebec</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A. | Maximum | Telef&#243;nica Infra, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod', window );">Purchase of interests in investments accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 267<span></span>
</td>
<td class="nump">R$ 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_TescoMobileLtdMember', window );">Tesco Mobile Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CommitmentsInRelationToJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The commitments that the entity has relating to its joint ventures as specified in paragraphs B18-B20 of IFRS 12. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CommitmentsInRelationToJointVentures</td>
</tr>
<tr>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ConsiderationPaidReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of consideration paid or received in respect of both obtaining and losing control of subsidiaries or other businesses. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 40<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_40_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ConsiderationPaidReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from joint ventures, classified as investing activities. [Refer: Joint ventures [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on disposals of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment</td>
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<tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, net of tax, before reclassification adjustments. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax</td>
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<td>ifrs-full_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity through changes in ownership interests in subsidiaries that do not result in loss of control. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) on remeasurements of defined benefit plans, which comprise actuarial gains and losses; the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset). [Refer: Other comprehensive income; Defined benefit plans [member]; Plan assets [member]; Net defined benefit liability (asset)] [Contrast: Decrease (increase) in net defined benefit liability (asset) resulting from gain (loss) on remeasurement in other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of interests in investments accounted for using the equity method. [Refer: Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Disclosure Of Joint Ventures And Associates [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureOfJointVenturesAndAssociatesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExpensesFromOperationsWithAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expenses From Operations With Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExpensesFromOperationsWithAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermContractualLiabilitiesToAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Contractual Liabilities To Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermContractualLiabilitiesToAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermCreditsToAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Credits To Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermCreditsToAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Additional Possible Premises Covered By Fiber Optic</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfAdditionalPossiblePremisesCoveredByFiberOptic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfCitiesWith5GNetwork">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Cities With 5G Network</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfCitiesWith5GNetwork</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfPremisesCoveredByFiberOptic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Premises Covered By Fiber Optic</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfPremisesCoveredByFiberOptic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfPremisesPassed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Premises Passed</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfPremisesPassed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfPopulationCoveredIn5GNetwork">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Population Covered In 5G Network</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfPopulationCoveredIn5GNetwork</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfShareCapitalAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Share Capital Acquired</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfShareCapitalAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfVotingEquityTransferedAsConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Voting Equity Transfered As Consideration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfVotingEquityTransferedAsConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProportionOfOwnershipInterestInEquityMethodInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proportion Of Ownership Interest In Equity Method Investment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProportionOfOwnershipInterestInEquityMethodInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProportionOfOwnershipInterestInJointVentureDisposal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proportion Of Ownership Interest In Joint Venture, Disposal</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProportionOfOwnershipInterestInJointVentureDisposal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RevenueFromOperationsWithAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue From Operations With Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RevenueFromOperationsWithAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionDiscountRatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Discount Rate, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionDiscountRatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionEBITDAMarginPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, EBITDA Margin, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionEBITDAMarginPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionIncreaseDecreaseInEBITDAMargin">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Increase (Decrease) In EBITDA Margin</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionIncreaseDecreaseInEBITDAMargin</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionIncreaseDecreaseInLongTermInvestmentRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Increase (Decrease) In Long Term Investment Ratio</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionIncreaseDecreaseInLongTermInvestmentRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionLongTermCapitalExpenditureRatioPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Long-Term Capital Expenditure Ratio, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionLongTermCapitalExpenditureRatioPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionPerpetuityGrowthRateIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Perpetuity Growth Rate, Increase (Decrease)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionPerpetuityGrowthRateIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionPerpetuityGrowthRatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Perpetuity Growth Rate, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionPerpetuityGrowthRatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionRevenueGrowthRatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Revenue Growth Rate, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionRevenueGrowthRatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ValuationAssumptionWeightedAverageCostOfCapitalIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Valuation Assumption, Weighted Average Cost Of Capital, Increase (Decrease)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ValuationAssumptionWeightedAverageCostOfCapitalIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_DaytonaMidcoSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_DaytonaMidcoSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AlamoHoldCoSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_AlamoHoldCoSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_OnnetFibraColombiaSASMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_OnnetFibraColombiaSASMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaChileS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaChileS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaColombiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaColombiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_KKRAlamedaAggregatorLPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_KKRAlamedaAggregatorLPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaInfraSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilSAAndFiBrasilInfraestructuraEFibraOticaSAMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_TelefonicaInfraSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_CaisseDeDepotEtPlacementDuQuebecMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_TescoMobileLtdMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>144
<FILENAME>R128.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781690000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Associates and Joint Ventures - Disclosure of Statement of Financial Position and Income Statement of Joint Ventures (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non current assets</a></td>
<td class="nump">&#8364; 84,284<span></span>
</td>
<td class="nump">&#8364; 84,284<span></span>
</td>
<td class="nump">&#8364; 87,053<span></span>
</td>
<td class="nump">&#8364; 84,284<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="nump">24,929<span></span>
</td>
<td class="nump">24,929<span></span>
</td>
<td class="nump">22,589<span></span>
</td>
<td class="nump">24,929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">8,580<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="nump">7,245<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="nump">&#8364; 5,604<span></span>
</td>
<td class="nump">&#8364; 6,042<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">109,213<span></span>
</td>
<td class="nump">109,213<span></span>
</td>
<td class="nump">109,642<span></span>
</td>
<td class="nump">109,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non current liabilities</a></td>
<td class="nump">55,034<span></span>
</td>
<td class="nump">55,034<span></span>
</td>
<td class="nump">54,834<span></span>
</td>
<td class="nump">55,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non current financial liabilities</a></td>
<td class="nump">35,290<span></span>
</td>
<td class="nump">35,290<span></span>
</td>
<td class="nump">35,059<span></span>
</td>
<td class="nump">35,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">6,391<span></span>
</td>
<td class="nump">6,391<span></span>
</td>
<td class="nump">6,657<span></span>
</td>
<td class="nump">6,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Other non current liabilities</a></td>
<td class="nump">1,356<span></span>
</td>
<td class="nump">1,356<span></span>
</td>
<td class="nump">1,632<span></span>
</td>
<td class="nump">1,356<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">25,495<span></span>
</td>
<td class="nump">25,495<span></span>
</td>
<td class="nump">23,100<span></span>
</td>
<td class="nump">25,495<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">7,005<span></span>
</td>
<td class="nump">7,005<span></span>
</td>
<td class="nump">4,020<span></span>
</td>
<td class="nump">7,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">1,679<span></span>
</td>
<td class="nump">1,679<span></span>
</td>
<td class="nump">2,020<span></span>
</td>
<td class="nump">1,679<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentLiabilities', window );">Other current liabilities</a></td>
<td class="nump">1,338<span></span>
</td>
<td class="nump">1,338<span></span>
</td>
<td class="nump">1,491<span></span>
</td>
<td class="nump">1,338<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">28,684<span></span>
</td>
<td class="nump">28,684<span></span>
</td>
<td class="nump">31,708<span></span>
</td>
<td class="nump">28,684<span></span>
</td>
<td class="nump">18,260<span></span>
</td>
<td class="nump">&#8364; 25,450<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">12,522<span></span>
</td>
<td class="nump">12,522<span></span>
</td>
<td class="nump">11,275<span></span>
</td>
<td class="nump">12,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,993<span></span>
</td>
<td class="nump">39,277<span></span>
</td>
<td class="nump">43,076<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,065<span></span>
</td>
<td class="nump">12,673<span></span>
</td>
<td class="nump">1,587<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Other expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,741)<span></span>
</td>
<td class="num">(10,976)<span></span>
</td>
<td class="num">(12,871)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,796)<span></span>
</td>
<td class="num">(8,397)<span></span>
</td>
<td class="num">(9,359)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,056<span></span>
</td>
<td class="nump">13,586<span></span>
</td>
<td class="nump">4,139<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13)<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,803<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="nump">677<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,030)<span></span>
</td>
<td class="num">(2,028)<span></span>
</td>
<td class="num">(2,417)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gain (loss) on derivative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,012<span></span>
</td>
<td class="nump">1,573<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,996)<span></span>
</td>
<td class="num">(2,751)<span></span>
</td>
<td class="num">(3,665)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetFinancialExpense', window );">Net financial expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,313)<span></span>
</td>
<td class="num">(1,364)<span></span>
</td>
<td class="num">(1,558)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">PROFIT BEFORE TAX</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,960<span></span>
</td>
<td class="nump">12,095<span></span>
</td>
<td class="nump">2,583<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Corporate income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(641)<span></span>
</td>
<td class="num">(1,378)<span></span>
</td>
<td class="num">(626)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,319<span></span>
</td>
<td class="nump">10,717<span></span>
</td>
<td class="nump">1,957<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">230<span></span>
</td>
<td class="num">(132)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (100% VMO2)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,908<span></span>
</td>
<td class="nump">4,557<span></span>
</td>
<td class="num">(7,305)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non current assets</a></td>
<td class="nump">48,779<span></span>
</td>
<td class="nump">48,779<span></span>
</td>
<td class="nump">46,280<span></span>
</td>
<td class="nump">48,779<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="nump">3,554<span></span>
</td>
<td class="nump">3,554<span></span>
</td>
<td class="nump">3,782<span></span>
</td>
<td class="nump">3,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">415<span></span>
</td>
<td class="nump">415<span></span>
</td>
<td class="nump">555<span></span>
</td>
<td class="nump">415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">52,333<span></span>
</td>
<td class="nump">52,333<span></span>
</td>
<td class="nump">50,062<span></span>
</td>
<td class="nump">52,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non current liabilities</a></td>
<td class="nump">20,593<span></span>
</td>
<td class="nump">20,593<span></span>
</td>
<td class="nump">20,840<span></span>
</td>
<td class="nump">20,593<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non current financial liabilities</a></td>
<td class="nump">19,185<span></span>
</td>
<td class="nump">19,185<span></span>
</td>
<td class="nump">19,668<span></span>
</td>
<td class="nump">19,185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">885<span></span>
</td>
<td class="nump">885<span></span>
</td>
<td class="nump">725<span></span>
</td>
<td class="nump">885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Other non current liabilities</a></td>
<td class="nump">523<span></span>
</td>
<td class="nump">523<span></span>
</td>
<td class="nump">447<span></span>
</td>
<td class="nump">523<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">7,605<span></span>
</td>
<td class="nump">7,605<span></span>
</td>
<td class="nump">7,786<span></span>
</td>
<td class="nump">7,605<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">2,841<span></span>
</td>
<td class="nump">2,841<span></span>
</td>
<td class="nump">3,248<span></span>
</td>
<td class="nump">2,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">219<span></span>
</td>
<td class="nump">219<span></span>
</td>
<td class="nump">221<span></span>
</td>
<td class="nump">219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentLiabilities', window );">Other current liabilities</a></td>
<td class="nump">4,545<span></span>
</td>
<td class="nump">4,545<span></span>
</td>
<td class="nump">4,317<span></span>
</td>
<td class="nump">4,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">28,198<span></span>
</td>
<td class="nump">28,198<span></span>
</td>
<td class="nump">&#8364; 28,626<span></span>
</td>
<td class="nump">28,198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfEquityOfJointVenture', window );">Equity of joint venture (in percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 24,135<span></span>
</td>
<td class="nump">&#8364; 24,135<span></span>
</td>
<td class="nump">&#8364; 21,436<span></span>
</td>
<td class="nump">&#8364; 24,135<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueOfInvestmentsInJointVentures', window );">50% Telef&#243;nica Group</a></td>
<td class="nump">&#8364; 12,068<span></span>
</td>
<td class="nump">&#8364; 12,068<span></span>
</td>
<td class="nump">&#8364; 10,718<span></span>
</td>
<td class="nump">&#8364; 12,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination', window );">Acquisition costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61<span></span>
</td>
<td class="nump">61<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 12,129<span></span>
</td>
<td class="nump">12,129<span></span>
</td>
<td class="nump">10,779<span></span>
</td>
<td class="nump">12,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,223<span></span>
</td>
<td class="nump">12,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">290<span></span>
</td>
<td class="nump">551<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Other expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,063)<span></span>
</td>
<td class="num">(8,305)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OperatingIncomeBeforeDepreciationAndAmortisation', window );">OIBDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,450<span></span>
</td>
<td class="nump">4,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,395)<span></span>
</td>
<td class="num">(4,170)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">OPERATING INCOME</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod', window );">Share of profit (loss) of associates accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(504)<span></span>
</td>
<td class="num">(1,020)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gain (loss) on derivative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">489<span></span>
</td>
<td class="nump">2,567<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(367)<span></span>
</td>
<td class="num">(1,296)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetFinancialExpense', window );">Net financial expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(355)<span></span>
</td>
<td class="nump">275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">PROFIT BEFORE TAX</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(300)<span></span>
</td>
<td class="nump">507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Corporate income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">65<span></span>
</td>
<td class="num">&#8364; (15)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfResultForThePeriodOfJointVenture', window );">Result for the period of joint venture (in percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Profit for the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(235)<span></span>
</td>
<td class="nump">&#8364; 492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueOfInvestmentsInJointVenturesOtherVenturer', window );">50% attributable to Telef&#243;nica Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(117)<span></span>
</td>
<td class="nump">246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseFromEquitysettledSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets', window );">Share-based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherAdjustments', window );">Other adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of income (loss) of investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(103)<span></span>
</td>
<td class="nump">&#8364; 292<span></span>
</td>
<td class="num">&#8364; (103)<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture', window );">Other comprehensive income of joint venture (in percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive income (100% VMO2)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 68<span></span>
</td>
<td class="num">&#8364; (113)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition-related costs for transactions recognised separately from the acquisition of assets and the assumption of liabilities in business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph m<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_m&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.
Effective 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfJointVenturesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfJointVenturesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseFromEquitysettledSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from equity-settled share-based payment transactions in which the goods or services received did not qualify for recognition as assets. [Refer: Expense from share-based payment transactions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 51<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_51_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseFromEquitysettledSharebasedPaymentTransactionsInWhichGoodsOrServicesReceivedDidNotQualifyForRecognitionAsAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in joint ventures accounted for using the equity method. [Refer: Joint ventures [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net loss arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 91<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByNature">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByNature</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2022-03-24<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FairValueOfInvestmentsInJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair Value Of Investments In Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FairValueOfInvestmentsInJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FairValueOfInvestmentsInJointVenturesOtherVenturer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair Value Of Investments In Joint Ventures, Other Venturer</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FairValueOfInvestmentsInJointVenturesOtherVenturer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NetFinancialExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net Financial Expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NetFinancialExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OperatingIncomeBeforeDepreciationAndAmortisation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Operating Income Before Depreciation And Amortisation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OperatingIncomeBeforeDepreciationAndAmortisation</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Adjustments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherAdjustments</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfEquityOfJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Equity Of Joint Venture</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfEquityOfJointVenture</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Balance Type:</strong></td>
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<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfOtherComprehensiveIncomeOfJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Other Comprehensive Income Of Joint Venture</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfOtherComprehensiveIncomeOfJointVenture</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfResultForThePeriodOfJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Result For The Period Of Joint Venture</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfResultForThePeriodOfJointVenture</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781559824">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Associates and Joint Ventures - Disclosure Of Purchase Commitments (Details) - VMO2<br> &#8364; in Millions, &#163; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<div>Dec. 31, 2021 </div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">&#8364; 3,054<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">1,106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Programming commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">698<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Network and connectivity commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">891<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Other commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">359<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">1,107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">154<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Programming commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">606<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Network and connectivity commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">82<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Other commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">856<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">89<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Programming commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">446<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Network and connectivity commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Other commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">264<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">787<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Programming commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">437<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Network and connectivity commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Other commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">266<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">617<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">58<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Programming commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Network and connectivity commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">22<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Other commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">456<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Programming commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">204<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Network and connectivity commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Other commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">&#8364; 6,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfTotalCommitmentsOfJointVenture', window );">Total commitments of joint venture (in percent)</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">O2 Holdings Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 253<span></span>
</td>
<td class="nump">&#163; 213<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentTypeAxis=tef_PurchaseCommitmentsMember', window );">Purchase commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">&#8364; 1,504<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentTypeAxis=tef_ProgrammingCommitmentsMember', window );">Programming commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">2,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentTypeAxis=tef_NetworkAndConnectivityCommitmentsMember', window );">Network and connectivity commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">1,275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentTypeAxis=tef_OtherCommitmentsMember', window );">Other commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentsLineItems', window );"><strong>Commitments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommitmentsInRelationToJointVentures', window );">Commitments in relation to joint ventures</a></td>
<td class="nump">&#8364; 1,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The commitments that the entity has relating to its joint ventures as specified in paragraphs B18-B20 of IFRS 12. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commitments [Line Items]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Total Commitments Of Joint Venture</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CommitmentTypeAxis=tef_PurchaseCommitmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CommitmentTypeAxis=tef_PurchaseCommitmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CommitmentTypeAxis=tef_ProgrammingCommitmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CommitmentTypeAxis=tef_ProgrammingCommitmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CommitmentTypeAxis=tef_NetworkAndConnectivityCommitmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CommitmentTypeAxis=tef_OtherCommitmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489808008528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Associates and Joint Ventures - Disclosure of Breakdown of Balances and Transactions Related to Associates and Joint Ventures Recognized (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures for current operations</a></td>
<td class="nump">&#8364; 151<span></span>
</td>
<td class="nump">&#8364; 121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures</a></td>
<td class="nump">93<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">39,993<span></span>
</td>
<td class="nump">39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember', window );">Associates and Joint Ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures for current operations</a></td>
<td class="nump">151<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures</a></td>
<td class="nump">93<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">460<span></span>
</td>
<td class="nump">328<span></span>
</td>
<td class="nump">268<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Expenses from operations with associates and joint ventures</a></td>
<td class="nump">315<span></span>
</td>
<td class="nump">122<span></span>
</td>
<td class="nump">&#8364; 39<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember', window );">Associates and Joint Ventures | VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfJointVenturesLineItems', window );"><strong>Disclosure of joint ventures [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures for current operations</a></td>
<td class="nump">40<span></span>
</td>
<td class="nump">54<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">259<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">130<span></span>
</td>
<td class="nump">103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Expenses from operations with associates and joint ventures</a></td>
<td class="nump">&#8364; 63<span></span>
</td>
<td class="nump">&#8364; 29<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentReceivablesDueFromJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables due from joint ventures. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentReceivablesDueFromJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfJointVenturesLineItems</td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OperatingExpense</td>
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<td>xbrli:monetaryItemType</td>
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<td>debit</td>
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<tr>
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<td>duration</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables due to related parties. [Refer: Related parties [member]; Payables to related parties]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_VMEDO2UKLtdMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489808046704">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Associates and Joint Ventures - Breakdown of Key Financial Highlights (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Assets</a></td>
<td class="nump">&#8364; 109,642<span></span>
</td>
<td class="nump">&#8364; 109,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract', window );"><strong>Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Group&#8217;s share in equity</a></td>
<td class="nump">31,708<span></span>
</td>
<td class="nump">28,684<span></span>
</td>
<td class="nump">&#8364; 18,260<span></span>
</td>
<td class="nump">&#8364; 25,450<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">18,471<span></span>
</td>
<td class="nump">16,519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Carrying amount in the Telef&#243;nica Group</a></td>
<td class="nump">312<span></span>
</td>
<td class="nump">251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProsegurSolucionesSAUMember', window );">Prosegur Soluciones S.A.U. | Movistar Prosegur Alarmas</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Assets</a></td>
<td class="nump">352<span></span>
</td>
<td class="nump">224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Liabilities</a></td>
<td class="nump">346<span></span>
</td>
<td class="nump">202<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetAssets', window );">Net assets</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">22<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract', window );"><strong>Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IdentifiableAssetsAcquired', window );">Assets</a></td>
<td class="nump">136<span></span>
</td>
<td class="nump">146<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LiabilitiesAssumed', window );">Liabilities</a></td>
<td class="nump">35<span></span>
</td>
<td class="nump">38<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Liabilities assumed and other costs (see Note 29.c)</a></td>
<td class="nump">&#8364; 101<span></span>
</td>
<td class="nump">&#8364; 108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Group&#8217;s share in equity</a></td>
<td class="nump">&#8364; 54<span></span>
</td>
<td class="nump">&#8364; 65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">198<span></span>
</td>
<td class="nump">198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod', window );">Carrying amount in the Telef&#243;nica Group</a></td>
<td class="nump">&#8364; 252<span></span>
</td>
<td class="nump">&#8364; 263<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsRecognisedAsOfAcquisitionDateForEachMajorClassOfAssetsAcquiredAndLiabilitiesAssumedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph IE72<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociatesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Liabilities assumed</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791422656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Associates and Joint Ventures - Disclosure of Statement of Financial Position and Income Statement of Associates and Joint Ventures (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures (Note 14)</a></td>
<td class="nump">&#8364; 151<span></span>
</td>
<td class="nump">&#8364; 121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures (Note 22)</a></td>
<td class="nump">93<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesAssociatesAndJointVentures', window );">Other liabilities to associates and joint ventures (Note 10)</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">39,993<span></span>
</td>
<td class="nump">39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial revenues with associates and joint ventures</a></td>
<td class="nump">1,803<span></span>
</td>
<td class="nump">614<span></span>
</td>
<td class="nump">677<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Financial expenses with associates and joint ventures</a></td>
<td class="nump">3,030<span></span>
</td>
<td class="nump">2,028<span></span>
</td>
<td class="nump">2,417<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember', window );">Associates and Joint Ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCreditsToAssociatesAndJointVentures', window );">Long-term credits to associates and joint ventures</a></td>
<td class="nump">228<span></span>
</td>
<td class="nump">97<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures (Note 14)</a></td>
<td class="nump">151<span></span>
</td>
<td class="nump">121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermContractualLiabilitiesFromAssociatesAndJointVentures', window );">Long-term contractual liabilities to associates and joint ventures</a></td>
<td class="nump">133<span></span>
</td>
<td class="nump">31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures (Note 22)</a></td>
<td class="nump">93<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures', window );">Short-Term Contractual Liabilities From Associates And Joint Ventures</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesAssociatesAndJointVentures', window );">Other liabilities to associates and joint ventures (Note 10)</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">460<span></span>
</td>
<td class="nump">328<span></span>
</td>
<td class="nump">268<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Expenses from operations with associates and joint ventures</a></td>
<td class="nump">315<span></span>
</td>
<td class="nump">122<span></span>
</td>
<td class="nump">39<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial revenues with associates and joint ventures</a></td>
<td class="nump">28<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Financial expenses with associates and joint ventures</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=ifrs-full_AssociatesMember', window );">Associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCreditsToAssociatesAndJointVentures', window );">Long-term credits to associates and joint ventures</a></td>
<td class="nump">217<span></span>
</td>
<td class="nump">87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures (Note 14)</a></td>
<td class="nump">66<span></span>
</td>
<td class="nump">34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermContractualLiabilitiesFromAssociatesAndJointVentures', window );">Long-term contractual liabilities to associates and joint ventures</a></td>
<td class="nump">82<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures (Note 22)</a></td>
<td class="nump">72<span></span>
</td>
<td class="nump">72<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures', window );">Short-Term Contractual Liabilities From Associates And Joint Ventures</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesAssociatesAndJointVentures', window );">Other liabilities to associates and joint ventures (Note 10)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">209<span></span>
</td>
<td class="nump">65<span></span>
</td>
<td class="nump">13<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Expenses from operations with associates and joint ventures</a></td>
<td class="nump">199<span></span>
</td>
<td class="nump">86<span></span>
</td>
<td class="nump">37<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial revenues with associates and joint ventures</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Financial expenses with associates and joint ventures</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=ifrs-full_JointVenturesWhereEntityIsVenturerMember', window );">Joint ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems', window );"><strong>Disclosure Of Joint Ventures And Associates [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCreditsToAssociatesAndJointVentures', window );">Long-term credits to associates and joint ventures</a></td>
<td class="nump">11<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures (Note 14)</a></td>
<td class="nump">85<span></span>
</td>
<td class="nump">87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermContractualLiabilitiesFromAssociatesAndJointVentures', window );">Long-term contractual liabilities to associates and joint ventures</a></td>
<td class="nump">51<span></span>
</td>
<td class="nump">31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures (Note 22)</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">272<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures', window );">Short-Term Contractual Liabilities From Associates And Joint Ventures</a></td>
<td class="nump">12<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesAssociatesAndJointVentures', window );">Other liabilities to associates and joint ventures (Note 10)</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">251<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="nump">255<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OperatingExpense', window );">Expenses from operations with associates and joint ventures</a></td>
<td class="nump">116<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Financial revenues with associates and joint ventures</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Financial expenses with associates and joint ventures</a></td>
<td class="nump">&#8364; 9<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentReceivablesDueFromJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables due from joint ventures. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentReceivablesDueFromJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OperatingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of all operating expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OperatingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables due to related parties. [Refer: Related parties [member]; Payables to related parties]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisclosureOfJointVenturesAndAssociatesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Disclosure Of Joint Ventures And Associates [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureOfJointVenturesAndAssociatesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermContractualLiabilitiesFromAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Contractual Liabilities From Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermContractualLiabilitiesFromAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermCreditsToAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Credits To Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermCreditsToAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherLiabilitiesAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Liabilities, Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherLiabilitiesAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Short-Term Contractual Liabilities From Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShortTermContractualLiabilitiesFromAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AssociatesandJointVenturesAxis=ifrs-full_AssociatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AssociatesandJointVenturesAxis=ifrs-full_AssociatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AssociatesandJointVenturesAxis=ifrs-full_JointVenturesWhereEntityIsVenturerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AssociatesandJointVenturesAxis=ifrs-full_JointVenturesWhereEntityIsVenturerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780910064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties - Narrative (Details) - EUR (&#8364;)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Oct. 07, 2022</div></th>
<th class="th"><div>Jul. 21, 2022</div></th>
<th class="th"><div>Jan. 05, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnearnedPremiums', window );">Unearned premiums</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,598,467<span></span>
</td>
<td class="nump">&#8364; 5,303,931<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember', window );">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A. Specialised credit institution</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringEspanaSAMember', window );">Telef&#243;nica Factoring Espa&#241;a, S.A. Factoring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaRentingSAMember', window );">Telefonica Renting, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_AdquiraEspanaSAMember', window );">Adquira Espa&#241;a, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44.44%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember', window );">CaixaBank</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions', window );">Guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 160,000,000<span></span>
</td>
<td class="nump">190,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions', window );">Purchase of goods</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,000,000<span></span>
</td>
<td class="nump">57,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PurchaseOfAssetsRelatedPartyTransactions', window );">Purchase of assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">82,000,000<span></span>
</td>
<td class="nump">92,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction', window );">Expense recognised during period for bad and doubtful debts for related party transaction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions', window );">Outstanding commitments made by entity, related party transactions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">119,000,000<span></span>
</td>
<td class="nump">73,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember', window );">CaixaBank | Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CreditDerivativeFairValue', window );">Credit derivative, fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41,000,000<span></span>
</td>
<td class="nump">26,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CreditDerivativeNominalAmount', window );">Nominal amount of hedging instrument</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">264,000,000<span></span>
</td>
<td class="nump">264,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions', window );">Guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,000,000<span></span>
</td>
<td class="nump">21,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember', window );">CaixaBank | Movistar Fusion &amp; Terminal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions', window );">Purchase of goods</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">405,000,000<span></span>
</td>
<td class="nump">186,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction', window );">Expense recognised during period for bad and doubtful debts for related party transaction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions', window );">Outstanding commitments made by entity, related party transactions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 501,000,000<span></span>
</td>
<td class="nump">&#8364; 176,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaMember', window );">BBVA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests', window );">Significant shareholder stake of the Company (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.73%<span></span>
</td>
<td class="nump">0.66%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions', window );">Guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 165,000,000<span></span>
</td>
<td class="nump">&#8364; 147,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions', window );">Purchase of goods</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaMember', window );">BBVA | Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CreditDerivativeFairValue', window );">Credit derivative, fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">185,000,000<span></span>
</td>
<td class="nump">314,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CreditDerivativeNominalAmount', window );">Nominal amount of hedging instrument</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,778,000,000<span></span>
</td>
<td class="nump">6,664,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions', window );">Guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 236,000,000<span></span>
</td>
<td class="nump">&#8364; 262,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaAndCaixabankMember', window );">Banco Bilbao Vizcaya Argentaria And Caixabank | Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CreditDerivativesToTotalPercentage', window );">Credit Derivatives, To Total , Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_CaixabankMember', window );">CaixaBank</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests', window );">Significant shareholder stake of the Company (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_BancoBilbaoVizcayaArgentariaMember', window );">BBVA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests', window );">Significant shareholder stake of the Company (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.87%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionOfOwnershipSharesHeld', window );">Proportion of ownership shares held</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.97%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_BancoBilbaoVizcayaArgentariaMember', window );">BBVA | Adquira Espa&#241;a, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44.44%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_Blackrockinc.Member', window );">Blackrock inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests', window );">Significant shareholder stake of the Company (as a percent)</a></td>
<td class="nump">4.49%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.48%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionOfOwnershipSharesHeld', window );">Proportion of ownership shares held</a></td>
<td class="nump">4.96%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaDigitalEspanaMember', window );">Telef&#243;nica Digital Ltd. Developer Telco Services | Movistar Consumer Finance Colombia SAS.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingRightsHeldInJointVenture', window );">Proportion of voting rights held in joint venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5000.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CreditDerivativeFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of a credit derivative. [Refer: At fair value [member]; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24G<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24G_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CreditDerivativeFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CreditDerivativeNominalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal amount of a credit derivative. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24G<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24G_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CreditDerivativeNominalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognised during the period in respect of bad or doubtful debts due from related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding commitments made by the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OutstandingCommitmentsMadeByEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interests in a subsidiary held by non-controlling interests. [Refer: Subsidiaries [member]; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in a subsidiary held by the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 19B<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingRightsHeldInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in a joint venture held by the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingRightsHeldInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of guarantees or collateral provided by the entity in related party transactions. [Refer: Guarantees [member]; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goods purchased by the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchasesOfGoodsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnearnedPremiums">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for written premiums on insurance contracts that have not yet been earned. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 37<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph IG22<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_IG22_a&amp;doctype=Implementation%20Guidance&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnearnedPremiums</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CreditDerivativesToTotalPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Credit Derivatives, To Total , Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CreditDerivativesToTotalPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProportionOfOwnershipSharesHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proportion Of Ownership Shares Held</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProportionOfOwnershipSharesHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PurchaseOfAssetsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Purchase Of Assets, Related Party Transactions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PurchaseOfAssetsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringEspanaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringEspanaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaRentingSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaRentingSAMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_AdquiraEspanaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_AdquiraEspanaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_NewFusionPortfolioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_NewFusionPortfolioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaAndCaixabankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaAndCaixabankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_CaixabankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_CaixabankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_BancoBilbaoVizcayaArgentariaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_BancoBilbaoVizcayaArgentariaMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_Blackrockinc.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_Blackrockinc.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaDigitalEspanaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_MovistarConsumerFinanceColombiaSASMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_MovistarConsumerFinanceColombiaSASMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787498496">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties - Summary of Balances and Transactions (Details) - Associates And Joint Ventures In Which BBVA And Caixabank Hold Interest - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties', window );">Receivables from associates and joint ventures for current operations</a></td>
<td class="nump">&#8364; 7<span></span>
</td>
<td class="nump">&#8364; 6<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesToRelatedParties', window );">Payables to associates and joint ventures</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">36<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions', window );">Revenue from operations with associates and joint ventures</a></td>
<td class="nump">13<span></span>
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<td class="nump">13<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpensesFromOperationsRelatedPartyTransactions', window );">Expenses from operations with associates and joint ventures</a></td>
<td class="nump">7<span></span>
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<td class="nump">9<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinanceCostFromOperationsRelatedPartyTransactions', window );">Finance cost from operations with associates and joint ventures</a></td>
<td class="nump">&#8364; 1<span></span>
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<td class="nump">&#8364; 1<span></span>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services in related party transactions. [Refer: Revenue; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of payables due to related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of receivables due from related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExpensesFromOperationsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expenses From Operations, Related Party Transactions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExpensesFromOperationsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinanceCostFromOperationsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Finance Cost From Operations, Related Party Transactions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinanceCostFromOperationsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AssociatesAndJointVenturesInWhichBBVAAndCaixabankHoldInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AssociatesAndJointVenturesInWhichBBVAAndCaixabankHoldInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784445440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Parties - Summary of Significant Transactions (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaMember', window );">BBVA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatementOfComprehensiveIncomeAbstract', window );"><strong>Impact on the consolidated income statement</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions', window );">Finance costs</a></td>
<td class="nump">&#8364; 11<span></span>
</td>
<td class="nump">&#8364; 8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Receipt of services</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions', window );">Purchase of goods</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherExpensesRelatedPartyTransaction', window );">Other expenses</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TotalExpensesRelatedPartyTransaction', window );">Total costs</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction', window );">Finance income</a></td>
<td class="nump">14<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsReceivedRelatedPartyTransactions', window );">Dividends received (1)</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions', window );">Services rendered</a></td>
<td class="nump">40<span></span>
</td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sale of goods</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RevenueFromOtherSourcesRelatedPartyTransaction', window );">Other income</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TotalRevenueRelatedPartyTransactions', window );">Total revenues</a></td>
<td class="nump">83<span></span>
</td>
<td class="nump">53<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatementOfFinancialPositionAbstract', window );"><strong>Balance sheet position</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions', window );">Finance arrangements: loans, capital contributions and others (borrower)</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">155<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeasesAsLesseeRelatedPartyTransactions', window );">Finance arrangements: loans and capital contributions (lender)</a></td>
<td class="nump">13<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FactoringOperationsRelatedPartyTransactions', window );">Factoring operations</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">108<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions', window );">Guarantees</a></td>
<td class="nump">165<span></span>
</td>
<td class="nump">147<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember', window );">CaixaBank</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatementOfComprehensiveIncomeAbstract', window );"><strong>Impact on the consolidated income statement</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions', window );">Finance costs</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesReceivedRelatedPartyTransactions', window );">Receipt of services</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions', window );">Purchase of goods</a></td>
<td class="nump">53<span></span>
</td>
<td class="nump">57<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TotalExpensesRelatedPartyTransaction', window );">Total costs</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">73<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions', window );">Services rendered</a></td>
<td class="nump">69<span></span>
</td>
<td class="nump">83<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sale of goods</a></td>
<td class="nump">51<span></span>
</td>
<td class="nump">67<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RevenueFromOtherSourcesRelatedPartyTransaction', window );">Other income</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TotalRevenueRelatedPartyTransactions', window );">Total revenues</a></td>
<td class="nump">122<span></span>
</td>
<td class="nump">151<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatementOfFinancialPositionAbstract', window );"><strong>Balance sheet position</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions', window );">Finance arrangements: loans, capital contributions and others (borrower)</a></td>
<td class="nump">148<span></span>
</td>
<td class="nump">145<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeasesAsLesseeRelatedPartyTransactions', window );">Finance arrangements: loans and capital contributions (lender)</a></td>
<td class="nump">37<span></span>
</td>
<td class="nump">82<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FactoringOperationsRelatedPartyTransactions', window );">Factoring operations</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">28<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions', window );">Guarantees</a></td>
<td class="nump">&#8364; 160<span></span>
</td>
<td class="nump">&#8364; 190<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeasesAsLesseeRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of leases where the entity was the lessee in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeasesAsLesseeRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of guarantees or collateral provided by the entity in related party transactions. [Refer: Guarantees [member]; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchasesOfGoodsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goods purchased by the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchasesOfGoodsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services in related party transactions. [Refer: Revenue; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the sale of goods in related party transactions. [Refer: Revenue; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ServicesReceivedRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of services received in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ServicesReceivedRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatementOfComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatementOfComprehensiveIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatementOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatementOfFinancialPositionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers under finance agreements from the entity in related party transactions, including loans and equity contributions in cash or in kind. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DividendsReceivedRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Dividends Received, Related Party Transactions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DividendsReceivedRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FactoringOperationsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Factoring Operations, Related Party Transactions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FactoringOperationsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Under Finance Agreements, Related Party Transaction</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeUnderFinanceAgreementsRelatedPartyTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherExpensesRelatedPartyTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Expenses, Related Party Transaction</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherExpensesRelatedPartyTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RevenueFromOtherSourcesRelatedPartyTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue From Other Sources, Related Party Transaction</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RevenueFromOtherSourcesRelatedPartyTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TotalExpensesRelatedPartyTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total Expenses, Related Party Transaction</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TotalExpensesRelatedPartyTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TotalRevenueRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total Revenue, Related Party Transactions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TotalRevenueRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfer Costs Under Finance Agreements, Related Party Transactions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TransferCostsUnderFinanceAgreementsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BancoBilbaoVizcayaArgentariaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_CaixabankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807844400">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial Assets and Other Non-current Assets - Breakdown of Assets (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">&#8364; 6,219<span></span>
</td>
<td class="nump">&#8364; 6,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentAssets', window );">Other non-current assets</a></td>
<td class="nump">1,882<span></span>
</td>
<td class="nump">1,285<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentContractAssets', window );">Contractual assets (Note 23)</a></td>
<td class="nump">359<span></span>
</td>
<td class="nump">209<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Deferred expenses (Note 23)</a></td>
<td class="nump">854<span></span>
</td>
<td class="nump">555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax', window );">Long-term receivables for taxes</a></td>
<td class="nump">345<span></span>
</td>
<td class="nump">299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPrepayments', window );">Prepayments</a></td>
<td class="nump">324<span></span>
</td>
<td class="nump">222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Total</a></td>
<td class="nump">8,101<span></span>
</td>
<td class="nump">7,347<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember', window );">Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">497<span></span>
</td>
<td class="nump">479<span></span>
</td>
<td class="nump">&#8364; 457<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember', window );">Other long-term credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">981<span></span>
</td>
<td class="nump">890<span></span>
</td>
<td class="nump">252<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember', window );">Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">1,163<span></span>
</td>
<td class="nump">1,254<span></span>
</td>
<td class="nump">1,633<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">1,019<span></span>
</td>
<td class="nump">752<span></span>
</td>
<td class="nump">551<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="num">(128)<span></span>
</td>
<td class="num">(112)<span></span>
</td>
<td class="num">(122)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_ReceivablesforSubleasesMember', window );">Receivables for subleases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="nump">&#8364; 15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative financial assets (Note 19)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">&#8364; 2,668<span></span>
</td>
<td class="nump">&#8364; 2,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentContractAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current contract assets. [Refer: Contract assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentContractAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPrepayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current prepayments. [Refer: Prepayments]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPrepayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from taxes other than income tax. [Refer: Receivables from taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets that the entity does not separately disclose in the same statement or note. [Refer: Non-current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Financial Assets And Other Non-Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_ReceivablesforSubleasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_ReceivablesforSubleasesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791545136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Assets and Other Non-current Assets - Movement in Non-current Financial Assets (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, beginning balance</a></td>
<td class="nump">&#8364; 6,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, ending balance</a></td>
<td class="nump">6,219<span></span>
</td>
<td class="nump">&#8364; 6,062<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember', window );">Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, beginning balance</a></td>
<td class="nump">479<span></span>
</td>
<td class="nump">457<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="nump">12<span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsNoncurrentFinancialAssets', window );">Disposals</a></td>
<td class="num">(74)<span></span>
</td>
<td class="num">(41)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets', window );">Translation differences</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets', window );">Fair value adjustments and financial updates</a></td>
<td class="nump">80<span></span>
</td>
<td class="nump">56<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="nump">1<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, ending balance</a></td>
<td class="nump">497<span></span>
</td>
<td class="nump">479<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember', window );">Other long-term credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, beginning balance</a></td>
<td class="nump">890<span></span>
</td>
<td class="nump">252<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="nump">503<span></span>
</td>
<td class="nump">686<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsNoncurrentFinancialAssets', window );">Disposals</a></td>
<td class="num">(94)<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets', window );">Translation differences</a></td>
<td class="nump">2<span></span>
</td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets', window );">Fair value adjustments and financial updates</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="num">(384)<span></span>
</td>
<td class="num">(47)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, ending balance</a></td>
<td class="nump">981<span></span>
</td>
<td class="nump">890<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember', window );">Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, beginning balance</a></td>
<td class="nump">1,254<span></span>
</td>
<td class="nump">1,633<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">195<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsNoncurrentFinancialAssets', window );">Disposals</a></td>
<td class="num">(33)<span></span>
</td>
<td class="num">(30)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets', window );">Translation differences</a></td>
<td class="nump">69<span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets', window );">Fair value adjustments and financial updates</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="num">(217)<span></span>
</td>
<td class="num">(561)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, ending balance</a></td>
<td class="nump">1,163<span></span>
</td>
<td class="nump">1,254<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, beginning balance</a></td>
<td class="nump">752<span></span>
</td>
<td class="nump">551<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="nump">616<span></span>
</td>
<td class="nump">540<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsNoncurrentFinancialAssets', window );">Disposals</a></td>
<td class="num">(162)<span></span>
</td>
<td class="num">(272)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets', window );">Translation differences</a></td>
<td class="nump">12<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets', window );">Fair value adjustments and financial updates</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="num">(197)<span></span>
</td>
<td class="num">(65)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, ending balance</a></td>
<td class="nump">1,019<span></span>
</td>
<td class="nump">752<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, beginning balance</a></td>
<td class="num">(112)<span></span>
</td>
<td class="num">(122)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="num">(10)<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsNoncurrentFinancialAssets', window );">Disposals</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets', window );">Translation differences</a></td>
<td class="num">(13)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets', window );">Fair value adjustments and financial updates</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="nump">4<span></span>
</td>
<td class="num">(27)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, ending balance</a></td>
<td class="num">(128)<span></span>
</td>
<td class="num">(112)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_ReceivablesforSubleasesMember', window );">Receivables for subleases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, beginning balance</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsNoncurrentFinancialAssets', window );">Disposals</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets', window );">Translation differences</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets', window );">Fair value adjustments and financial updates</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="num">(9)<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets, ending balance</a></td>
<td class="nump">&#8364; 19<span></span>
</td>
<td class="nump">&#8364; 27<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialAssets</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdditionsNonCurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions, Non-Current Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionsNonCurrentFinancialAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalsNoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposals, Non-current Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalsNoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gains (Losses) On Fair Value Adjustment, Non-current Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_GainsLossesOnFairValueAdjustmentNoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Net Exchange Differences, Non-current Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughNetExchangeDifferencesNoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Other Changes, Non-current Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_ReceivablesforSubleasesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781768464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Assets and Other Non-current Assets - Narrative (Details)<br> &#8364; in Millions, $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>May 19, 2022 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>bond</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>bond</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 83,706<span></span>
</td>
<td class="nump">&#8364; 84,794<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssued', window );">Bonds issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,095<span></span>
</td>
<td class="nump">32,156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,219<span></span>
</td>
<td class="nump">6,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember', window );">Long-term credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(384)<span></span>
</td>
<td class="num">(47)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">981<span></span>
</td>
<td class="nump">890<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 252<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">503<span></span>
</td>
<td class="nump">686<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_GuaranteesMember', window );">Collateral guarantees on derivatives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">365<span></span>
</td>
<td class="nump">564<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42<span></span>
</td>
<td class="nump">279<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(197)<span></span>
</td>
<td class="num">(65)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,019<span></span>
</td>
<td class="nump">752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 551<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">616<span></span>
</td>
<td class="nump">540<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables | Onnet Fibra Colombia S.A.S.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsNonCurrentFinancialAssets', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">69<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember', window );">Financial assets at fair value through other comprehensive income, category [member] | Trade receivables | Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">292<span></span>
</td>
<td class="nump">269<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SpireNotesMember', window );">Spire Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">939<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLongTermCredits', window );">Other long-term credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">295<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">939<span></span>
</td>
<td class="nump">591<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">313<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_PegasoPCSSADeCVMember', window );">Pegaso PCS S.A. de CV | Federal Treasury Certificates [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">260<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">82<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelxiusTowersMember', window );">Telxius Towers | Long-term credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets', window );">Transfers and other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 264<span></span>
</td>
<td class="nump">&#8364; 246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaEmisionesS.A.U.Member', window );">Telef&#243;nica Emisiones, S.A.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfBondsIssued', window );">Number of bonds issued | bond</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">79,034<span></span>
</td>
<td class="nump">166,678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssued', window );">Bonds issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 78<span></span>
</td>
<td class="nump">&#8364; 173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermFinancialAssets', window );">Long-term financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">104<span></span>
</td>
<td class="nump">85<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermDeposits', window );">Long-term deposits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">501<span></span>
</td>
<td class="nump">431<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_BancoBilbaoVizcayaArgentariaMember', window );">BBVA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investments in associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 249<span></span>
</td>
<td class="nump">&#8364; 232<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.73%<span></span>
</td>
<td class="nump">0.66%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member', window );">China Unicom Broadban Online Limited Corp. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investments in associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 105<span></span>
</td>
<td class="nump">&#8364; 80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.59%<span></span>
</td>
<td class="nump">0.59%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_PromotoraDeInformacionesSAMember', window );">Promotora de informaciones, S.A. (Prisa)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investments in associates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="nump">&#8364; 36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.87%<span></span>
</td>
<td class="nump">9.03%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSharesSoldInvestmentsInAssociates', window );">Number of shares sold, investments in associates (in shares) | shares</a></td>
<td class="nump">50,147,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseProportionOfOwnershipInterestInAssociate', window );">Increase (decrease) proportion of ownership interest in associate (in percent)</a></td>
<td class="nump">7.076%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome', window );">Reserve of gains and losses on financial assets measured at fair value through other comprehensive income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 71<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA | Telef&#243;nica Chile, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionOfOwnershipInterestInJointVentureDisposal', window );">Proportion of ownership interest in joint venture, disposal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA | Telef&#243;nica Chile, S.A. | Loans and receivables, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermCreditsToAssociatesAndJointVentures', window );">Long-term credits to associates and joint ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 75<span></span>
</td>
<td class="nump">&#8364; 87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BondsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of bonds issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BondsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries reported in separate financial statements]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of long-term deposits held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets that the entity does not separately disclose in the same statement or note. [Refer: Other financial assets; Current financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the reserve of gains and losses on financial assets measured at fair value through other comprehensive income. [Refer: Financial assets measured at fair value through other comprehensive income; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdditionsNonCurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions, Non-Current Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionsNonCurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Proportion Of Ownership Interest In Associate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Other Changes, Non-current Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughOtherChangesNoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermCreditsToAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Credits To Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermCreditsToAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfBondsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Bonds Issued</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfBondsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfSharesSoldInvestmentsInAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Shares Sold, Investments In Associates</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfSharesSoldInvestmentsInAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherLongTermCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Long Term Credits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherLongTermCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProportionOfOwnershipInterestInJointVentureDisposal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proportion Of Ownership Interest In Joint Venture, Disposal</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProportionOfOwnershipInterestInJointVentureDisposal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_GuaranteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_GuaranteesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OnnetFibraColombiaSASMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OnnetFibraColombiaSASMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SpireNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_PegasoPCSSADeCVMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_AlamoHoldCoSLMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelxiusTowersMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaEmisionesS.A.U.Member</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrasilS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_BancoBilbaoVizcayaArgentariaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_ChinaUnicomBroadbanOnlineLimitedCorp.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_PromotoraDeInformacionesSAMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=tef_InfraCoSpAMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaChileS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799715168">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Inventories - Summary (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InventoriesAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Currentinventoriesbroadcastandtransmissionrightsandothercontents', window );">Audiovisual rights</a></td>
<td class="nump">&#8364; 823<span></span>
</td>
<td class="nump">&#8364; 1,131<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Currentinventoriesmobileterminalandotherequipments', window );">Mobile terminals and other equipments</a></td>
<td class="nump">701<span></span>
</td>
<td class="nump">584<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherInventories', window );">Other inventories</a></td>
<td class="nump">57<span></span>
</td>
<td class="nump">71<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Currentinventoriesimpairmentprovision', window );">Inventories impairment provision</a></td>
<td class="num">(35)<span></span>
</td>
<td class="num">(37)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="nump">&#8364; 1,546<span></span>
</td>
<td class="nump">&#8364; 1,749<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 36<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of inventory that the entity does not separately disclose in the same statement or note. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 37<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherInventories</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current inventories, broadcast and transmission rights and other contents</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Currentinventoriesbroadcastandtransmissionrightsandothercontents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current inventories, impairment provision</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Currentinventoriesimpairmentprovision</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current inventories, mobile terminal and other equipments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Currentinventoriesmobileterminalandotherequipments</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inventories [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InventoriesAbstract</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799543088">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Receivables and Other Current Assets - Summary (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Receivables (Note 16)</a></td>
<td class="nump">&#8364; 7,340<span></span>
</td>
<td class="nump">&#8364; 6,903<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">9,680<span></span>
</td>
<td class="nump">8,926<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment of trade receivables</a></td>
<td class="num">(2,891)<span></span>
</td>
<td class="num">(2,531)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesDueFromJointVentures', window );">Receivables from associates and joint ventures (Note 10)</a></td>
<td class="nump">151<span></span>
</td>
<td class="nump">121<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentReceivables', window );">Other receivables</a></td>
<td class="nump">400<span></span>
</td>
<td class="nump">387<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentAssets', window );">Other current assets</a></td>
<td class="nump">1,794<span></span>
</td>
<td class="nump">1,384<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentContractAssets', window );">Contractual assets (Note 23)</a></td>
<td class="nump">195<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs (Note 23)</a></td>
<td class="nump">885<span></span>
</td>
<td class="nump">668<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPrepayments', window );">Prepayments</a></td>
<td class="nump">714<span></span>
</td>
<td class="nump">583<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Total</a></td>
<td class="nump">&#8364; 9,134<span></span>
</td>
<td class="nump">&#8364; 8,287<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentContractAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current contract assets. [Refer: Contract assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentContractAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments. [Refer: Prepayments]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentReceivablesDueFromJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables due from joint ventures. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentReceivablesDueFromJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current assets that the entity does not separately disclose in the same statement or note. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current other receivables. [Refer: Other receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentReceivablesAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Receivables And Other Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentReceivablesAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799907664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Receivables and Other Current Assets - Impairment Provision (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract', window );"><strong>Reconciliation of changes in allowance account for credit losses of financial assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment provision at period start</a></td>
<td class="nump">&#8364; 2,531<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment provision at period end</a></td>
<td class="nump">2,891<span></span>
</td>
<td class="nump">&#8364; 2,531<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract', window );"><strong>Reconciliation of changes in allowance account for credit losses of financial assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment provision at period start</a></td>
<td class="nump">2,531<span></span>
</td>
<td class="nump">2,549<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets', window );">Allowances</a></td>
<td class="nump">613<span></span>
</td>
<td class="nump">598<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughInclusionofCompaniesAllowanceAccountforCreditLossesofFinancialAssets', window );">Inclusion of companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(38)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets', window );">Transfers</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets', window );">Amounts applied</a></td>
<td class="num">(397)<span></span>
</td>
<td class="num">(545)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets', window );">Translation differences and other</a></td>
<td class="nump">132<span></span>
</td>
<td class="num">(33)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment provision at period end</a></td>
<td class="nump">&#8364; 2,891<span></span>
</td>
<td class="nump">&#8364; 2,531<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additional allowance for credit losses of financial assets recognised in profit or loss. [Refer: Allowance account for credit losses of financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in an allowance account for credit losses of financial assets resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Allowance account for credit losses of financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in an allowance account for credit losses of financial assets resulting from the reversal of impairment. [Refer: Allowance account for credit losses of financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReversalAllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughInclusionofCompaniesAllowanceAccountforCreditLossesofFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Inclusion of Companies for Impairment Provision on Current Trade Receivables</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughInclusionofCompaniesAllowanceAccountforCreditLossesofFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Transfers, Allowance Account for Credit Losses of Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>158
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788041312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Receivables and Other Current Assets - Narrative (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">&#8364; 9,680<span></span>
</td>
<td class="nump">&#8364; 8,926<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets', window );">Transfers</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MajorCustomersAxis=ifrs-full_GovernmentMember', window );">Government</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">&#8364; 518<span></span>
</td>
<td class="nump">&#8364; 439<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Disclosure of trade and other receivables [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureOfTradeAndOtherReceivablesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Transfers, Allowance Account for Credit Losses of Financial Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTransfersAllowanceAccountforCreditLossesofFinancialAssets</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MajorCustomersAxis=ifrs-full_GovernmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MajorCustomersAxis=ifrs-full_GovernmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>159
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807595696">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Receivables and Other Current Assets - Billed and Unbilled Trade Receivables (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">&#8364; 9,680<span></span>
</td>
<td class="nump">&#8364; 8,926<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment</a></td>
<td class="num">(2,891)<span></span>
</td>
<td class="num">(2,531)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=tef_UnbilledMember', window );">Unbilled receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">2,495<span></span>
</td>
<td class="nump">2,316<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(16)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember', window );">Amount not overdue invoiced</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">3,011<span></span>
</td>
<td class="nump">2,976<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment</a></td>
<td class="num">(154)<span></span>
</td>
<td class="num">(114)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_NotLaterThanThreeMonthsMember', window );">Less than 90 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">1,024<span></span>
</td>
<td class="nump">893<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment</a></td>
<td class="num">(160)<span></span>
</td>
<td class="num">(141)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember', window );">Between 90 and 180 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">347<span></span>
</td>
<td class="nump">333<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment</a></td>
<td class="num">(150)<span></span>
</td>
<td class="num">(125)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember', window );">Between 180 and 360 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">534<span></span>
</td>
<td class="nump">416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment</a></td>
<td class="num">(381)<span></span>
</td>
<td class="num">(306)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanOneYearMember', window );">More than 360 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems', window );"><strong>Disclosure of Trade and Other Receivables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Current trade receivables</a></td>
<td class="nump">2,269<span></span>
</td>
<td class="nump">1,992<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets', window );">Impairment</a></td>
<td class="num">&#8364; (2,037)<span></span>
</td>
<td class="num">&#8364; (1,829)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_16&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisclosureOfTradeAndOtherReceivablesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Disclosure of trade and other receivables [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureOfTradeAndOtherReceivablesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=tef_UnbilledMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=tef_UnbilledMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_NotLaterThanThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_NotLaterThanThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanSixMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanSixMonthsAndNotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489790900464">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Current Financial Assets - Summary (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">&#8364; 2,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,835<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_CurrentCreditsMember', window );">Short-term credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,306<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember', window );">Short-term deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">760<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember', window );">Short-term deposits and guarantees | Telef&#243;nica Brasil, Claro S.A. And TIM S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">94<span></span>
</td>
<td class="nump">R$ 522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Short-term derivative financial assets (Note 19)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">995<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_OtherCurrentFinancialAssetsMember', window );">Other current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">&#8364; 1,165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 774<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_CurrentCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_CurrentCreditsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaBrasilClaroSAAndTIMSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaBrasilClaroSAAndTIMSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_OtherCurrentFinancialAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_OtherCurrentFinancialAssetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787862592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Current Financial Assets - Narrative (Details)<br> &#8364; in Millions, $ in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">&#8364; 3,835<span></span>
</td>
<td class="nump">&#8364; 2,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">84,794<span></span>
</td>
<td class="nump">83,706<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SpireNotesMember', window );">Spire Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">939<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">591<span></span>
</td>
<td class="nump">939<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLongTermCredits', window );">Other long-term credits</a></td>
<td class="nump">&#8364; 295<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_CurrentCreditsBankDepositsMember', window );">Short-term credits - bank deposits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShortTermCreditMaturity', window );">Maturity of short-term credits</a></td>
<td class="text">1 month<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,190<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember', window );">Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">&#8364; 760<span></span>
</td>
<td class="nump">439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember', window );">Other current financial assets - short-term investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">105<span></span>
</td>
<td class="nump">126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">17<span></span>
</td>
<td class="nump">106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaMovilesChileS.A.Member', window );">Telef&#243;nica Emisiones, S.A.U. | Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">&#8364; 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShortTermDepositsAndGuaranteesMinimumMaturity', window );">Minimum maturity of short-term deposits and guarantees</a></td>
<td class="text">90 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">&#8364; 3,835<span></span>
</td>
<td class="nump">2,444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">&#8364; 150<span></span>
</td>
<td class="nump">&#8364; 232<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets that the entity does not separately disclose in the same statement or note. [Refer: Other financial assets; Current financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherLongTermCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Long Term Credits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherLongTermCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShortTermCreditMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Short-Term Credit, Maturity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShortTermCreditMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShortTermDepositsAndGuaranteesMinimumMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Short-Term Deposits And Guarantees, Minimum Maturity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShortTermDepositsAndGuaranteesMinimumMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SpireNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SpireNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_CurrentCreditsBankDepositsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_CurrentCreditsBankDepositsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_OtherCurrentFinancialAssetsShortTermInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaMovilesChileS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaMovilesChileS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489779694832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Breakdown of Financial Assets - Summary (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">&#8364; 6,219<span></span>
</td>
<td class="nump">&#8364; 6,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember', window );">Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">497<span></span>
</td>
<td class="nump">479<span></span>
</td>
<td class="nump">&#8364; 457<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember', window );">Credits and other financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">981<span></span>
</td>
<td class="nump">890<span></span>
</td>
<td class="nump">252<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember', window );">Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">1,163<span></span>
</td>
<td class="nump">1,254<span></span>
</td>
<td class="nump">1,633<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">439<span></span>
</td>
<td class="nump">760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">2,668<span></span>
</td>
<td class="nump">2,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">712<span></span>
</td>
<td class="nump">995<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">1,019<span></span>
</td>
<td class="nump">752<span></span>
</td>
<td class="nump">551<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="num">(128)<span></span>
</td>
<td class="num">(112)<span></span>
</td>
<td class="num">(122)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_ReceivablesforSubleasesMember', window );">Trade receivables for subleases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="nump">&#8364; 15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">6,219<span></span>
</td>
<td class="nump">6,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">17,029<span></span>
</td>
<td class="nump">19,318<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">23,248<span></span>
</td>
<td class="nump">25,380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">6,219<span></span>
</td>
<td class="nump">6,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentFinancialAssetsAtFairValue', window );">Current financial assets, fair value</a></td>
<td class="nump">17,029<span></span>
</td>
<td class="nump">19,318<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );">Financial assets, fair value</a></td>
<td class="nump">23,248<span></span>
</td>
<td class="nump">25,380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">464<span></span>
</td>
<td class="nump">380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">181<span></span>
</td>
<td class="nump">160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">645<span></span>
</td>
<td class="nump">540<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="nump">3,148<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">1,513<span></span>
</td>
<td class="nump">1,923<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">4,580<span></span>
</td>
<td class="nump">5,071<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">11<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">323<span></span>
</td>
<td class="nump">506<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">405<span></span>
</td>
<td class="nump">218<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">728<span></span>
</td>
<td class="nump">724<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">350<span></span>
</td>
<td class="nump">269<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">833<span></span>
</td>
<td class="nump">956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">1,183<span></span>
</td>
<td class="nump">1,225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">465<span></span>
</td>
<td class="nump">452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">465<span></span>
</td>
<td class="nump">452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">2,404<span></span>
</td>
<td class="nump">2,301<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">466<span></span>
</td>
<td class="nump">908<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">2,870<span></span>
</td>
<td class="nump">3,209<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">2,677<span></span>
</td>
<td class="nump">2,534<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">15,325<span></span>
</td>
<td class="nump">17,235<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total</a></td>
<td class="nump">18,002<span></span>
</td>
<td class="nump">19,769<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">497<span></span>
</td>
<td class="nump">479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">497<span></span>
</td>
<td class="nump">479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">390<span></span>
</td>
<td class="nump">372<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">32<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">465<span></span>
</td>
<td class="nump">452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Investments | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">981<span></span>
</td>
<td class="nump">890<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">981<span></span>
</td>
<td class="nump">890<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">11<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">58<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credits and other financial assets | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">896<span></span>
</td>
<td class="nump">882<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">1,163<span></span>
</td>
<td class="nump">1,254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">1,163<span></span>
</td>
<td class="nump">1,254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Deposits and guarantees | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">1,163<span></span>
</td>
<td class="nump">1,254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">2,668<span></span>
</td>
<td class="nump">2,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">2,668<span></span>
</td>
<td class="nump">2,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">2,668<span></span>
</td>
<td class="nump">2,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">264<span></span>
</td>
<td class="nump">471<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">2,404<span></span>
</td>
<td class="nump">2,301<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Derivative instruments | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">1,019<span></span>
</td>
<td class="nump">752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">10,231<span></span>
</td>
<td class="nump">9,434<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">891<span></span>
</td>
<td class="nump">640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentFinancialAssetsAtFairValue', window );">Current financial assets, fair value</a></td>
<td class="nump">7,340<span></span>
</td>
<td class="nump">6,903<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="num">(128)<span></span>
</td>
<td class="num">(112)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="num">(2,891)<span></span>
</td>
<td class="num">(2,531)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentFinancialAssetsAtFairValue', window );">Current financial assets, fair value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Level 1 (Quoted prices) | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">292<span></span>
</td>
<td class="nump">269<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">792<span></span>
</td>
<td class="nump">918<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Level 2 (Other directly observable market inputs) | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Level 3 (Inputs not based on observable market data) | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Held for trading | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Fair value option | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">292<span></span>
</td>
<td class="nump">269<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">792<span></span>
</td>
<td class="nump">917<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Debt instruments | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Equity instruments | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Hedges | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">727<span></span>
</td>
<td class="nump">483<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">9,439<span></span>
</td>
<td class="nump">8,516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables | Amortized cost | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="num">(128)<span></span>
</td>
<td class="num">(112)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="num">(2,891)<span></span>
</td>
<td class="num">(2,531)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialAssetsAtFairValue', window );">Non-current financial assets, fair value</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Trade receivables for subleases | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialAssets', window );">Non-current financial assets</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentFinancialAssetsAtFairValue', window );">Current financial assets, fair value</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">181<span></span>
</td>
<td class="nump">160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">721<span></span>
</td>
<td class="nump">1,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">405<span></span>
</td>
<td class="nump">217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">41<span></span>
</td>
<td class="nump">39<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">466<span></span>
</td>
<td class="nump">908<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Other financial assets | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">1,532<span></span>
</td>
<td class="nump">2,670<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">7,245<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentFinancialAssetsAtFairValue', window );">Current financial assets, fair value</a></td>
<td class="nump">7,245<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Debt instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Equity instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Cash and cash equivalents | Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Current financial assets</a></td>
<td class="nump">&#8364; 7,245<span></span>
</td>
<td class="nump">&#8364; 8,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35H<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35M<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35N<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35I<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial assets. [Refer: At fair value [member]; Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentFinancialAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Financial Assets, At Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentFinancialAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NoncurrentFinancialAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Noncurrent Financial Assets, At Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NoncurrentFinancialAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_EquityInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_NoncurrentCreditsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_DepositsAndGuaranteesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_ReceivablesforSubleasesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaSAMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
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<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember</td>
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=tef_EquityinstrumentsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtAmortisedCostCategoryMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=tef_OtherFinancialAssetsMember</td>
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<td><strong> Data Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784390800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Share Capital and Share Premium (Details) - EUR (&#8364;)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Apr. 08, 2022</div></th>
<th class="th"><div>Dec. 23, 2021</div></th>
<th class="th"><div>Jun. 22, 2021</div></th>
<th class="th"><div>Apr. 23, 2021</div></th>
<th class="th"><div>Dec. 04, 2020</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Jun. 24, 2022</div></th>
<th class="th"><div>Nov. 03, 2021</div></th>
<th class="th"><div>Jun. 30, 2020</div></th>
<th class="th"><div>Jun. 12, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Net movement in treasury shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 364,000,000<span></span>
</td>
<td class="nump">&#8364; 479,000,000<span></span>
</td>
<td class="nump">&#8364; 224,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 31,708,000,000<span></span>
</td>
<td class="nump">&#8364; 28,684,000,000<span></span>
</td>
<td class="nump">&#8364; 18,260,000,000<span></span>
</td>
<td class="nump">&#8364; 31,708,000,000<span></span>
</td>
<td class="nump">&#8364; 28,684,000,000<span></span>
</td>
<td class="nump">&#8364; 18,260,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 25,450,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CapitalReductionByRedemptionOfTreasurySharesPercentage', window );">Capital reduction by means of a redemption of treasury shares (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AggregateAmountofIssuanceofSecurities', window );">Aggregate amount of approved securities issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 25,000,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember', window );">Treasury Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85,217,621<span></span>
</td>
<td class="nump">139,329,370<span></span>
</td>
<td class="nump">98,231,380<span></span>
</td>
<td class="nump">85,217,621<span></span>
</td>
<td class="nump">139,329,370<span></span>
</td>
<td class="nump">98,231,380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77,562,635<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Net movement in treasury shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 342,000,000<span></span>
</td>
<td class="nump">&#8364; 459,000,000<span></span>
</td>
<td class="nump">&#8364; 195,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Capital reduction (shares)</a></td>
<td class="num">(139,275,057)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(82,896,466)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (341,000,000)<span></span>
</td>
<td class="num">&#8364; (547,000,000)<span></span>
</td>
<td class="num">&#8364; (476,000,000)<span></span>
</td>
<td class="num">(341,000,000)<span></span>
</td>
<td class="num">(547,000,000)<span></span>
</td>
<td class="num">(476,000,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (766,000,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember', window );">Share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares (in shares)</a></td>
<td class="nump">5,639,772,963<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,443,534,596<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Net movement in treasury shares</a></td>
<td class="nump">&#8364; 139,275,057<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 82,896,466<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">5,639,772,963<span></span>
</td>
<td class="nump">5,779,048,020<span></span>
</td>
<td class="nump">&#8364; 5,638,053,507<span></span>
</td>
<td class="nump">5,443,534,596<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,775,000,000<span></span>
</td>
<td class="nump">5,779,000,000<span></span>
</td>
<td class="nump">5,526,000,000<span></span>
</td>
<td class="nump">5,775,000,000<span></span>
</td>
<td class="nump">5,779,000,000<span></span>
</td>
<td class="nump">5,526,000,000<span></span>
</td>
<td class="nump">&#8364; 5,775,237,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,192,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughEquityIssuedAsDividends', window );">Capital increase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 140,994,513<span></span>
</td>
<td class="nump">&#8364; 194,518,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 135,464,591<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSharesIssuedAsDividends', window );">Number of shares issued as dividends (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140,994,513<span></span>
</td>
<td class="nump">194,518,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,464,591<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember', window );">Share premium</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Net movement in treasury shares</a></td>
<td class="nump">&#8364; 409,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 305,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,824,000,000<span></span>
</td>
<td class="nump">4,233,000,000<span></span>
</td>
<td class="nump">&#8364; 4,538,000,000<span></span>
</td>
<td class="nump">3,824,000,000<span></span>
</td>
<td class="nump">4,233,000,000<span></span>
</td>
<td class="nump">&#8364; 4,538,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,538,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Share capital amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,775,237,554<span></span>
</td>
<td class="nump">&#8364; 5,779,048,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,775,237,554<span></span>
</td>
<td class="nump">&#8364; 5,779,048,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,775,237,554<span></span>
</td>
<td class="nump">5,779,048,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,775,237,554<span></span>
</td>
<td class="nump">5,779,048,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share (EUR per share)</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Capital reduction (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140,994,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">197,993,390<span></span>
</td>
<td class="nump">135,464,591<span></span>
</td>
<td class="nump">194,518,911<span></span>
</td>
<td class="nump">136,305,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MaximumAuthorizedIssuedCapital', window );">Maximum authorized share capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,596,065,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,596,065,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,596,065,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_TreasurySharesMember', window );">Treasury Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share (EUR per share)</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of shares outstanding. [Refer: Number of shares outstanding]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from treasury share transactions. [Refer: Equity; Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AggregateAmountofIssuanceofSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate Amount of Issuance of Securities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AggregateAmountofIssuanceofSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CapitalReductionByRedemptionOfTreasurySharesPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capital Reduction By Redemption Of Treasury Shares, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CapitalReductionByRedemptionOfTreasurySharesPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughEquityIssuedAsDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Equity Issued As Dividends</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughEquityIssuedAsDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_MaximumAuthorizedIssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maximum Authorized Issued Capital</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_MaximumAuthorizedIssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfSharesIssuedAsDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Shares Issued As Dividends</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfSharesIssuedAsDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_TreasurySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_TreasurySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<FILENAME>R148.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784359040">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Dividends (Details)<br> &#8364; / shares in Units, &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">1 Months Ended</th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 15, 2022 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>May 25, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Apr. 08, 2022 </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 23, 2021 </div>
<div>&#8364; / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 17, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 17, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>May 26, 2021</div></th>
<th class="th">
<div>Apr. 23, 2021 </div>
<div>tranche </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 04, 2020 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jul. 03, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 12, 2020 </div>
<div>tranche </div>
<div>allotmentRight </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Jun. 30, 2021 </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Jun. 30, 2020 </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>&#8364; / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>&#8364; / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 24, 2022 </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Nov. 03, 2021 </div>
<div>allotmentRight</div>
</th>
<th class="th">
<div>Jun. 22, 2021 </div>
<div>&#8364; / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfTranchesForDividendsPayable', window );">Number of tranches for dividends payable | tranche</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FreeOfChargeAllotmentRightsTradingPeriod', window );">Free-of-charge allotment rights, trading period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">15 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">15 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfFreeOfChargeAllotmentRights', window );">Number of free-of-charge allotment rights per share | allotmentRight</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">PROFIT FOR THE YEAR</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,319<span></span>
</td>
<td class="nump">&#8364; 10,717<span></span>
</td>
<td class="nump">&#8364; 1,957<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinarySharesPerShare', window );">Dividends paid (EUR per share) | &#8364; / shares</a></td>
<td class="nump">&#8364; 0.15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0.15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0.35<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0.40<span></span>
</td>
<td class="nump">&#8364; 0.15<span></span>
</td>
<td class="nump">&#8364; 0.20<span></span>
</td>
<td class="nump">&#8364; 0.20<span></span>
</td>
<td class="nump">&#8364; 0.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash', window );">Proportion of shareholders issued free-of-charge allotment rights issued in cash (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.54%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28.53%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33.12%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34.98%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinaryShares', window );">Dividends paid, total amount</a></td>
<td class="nump">&#8364; 854<span></span>
</td>
<td class="nump">&#8364; 213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 292<span></span>
</td>
<td class="nump">&#8364; 308<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 342<span></span>
</td>
<td class="nump">&#8364; 371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares', window );">Percentage of shareholders issued free-of-charge allotment rights issued in shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66.88%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74.46%<span></span>
</td>
<td class="nump">65.02%<span></span>
</td>
<td class="nump">71.47%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding', window );">Increase (decrease) in number of shares outstanding (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">140,994,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">197,993,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,464,591<span></span>
</td>
<td class="nump">194,518,911<span></span>
</td>
<td class="nump">136,305,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParValuePerShare', window );">Par value per share (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInShareCapitalPercentage', window );">Increase (decrease) in share capital, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.72%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">PROFIT FOR THE YEAR</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 308<span></span>
</td>
<td class="nump">&#8364; 2,580<span></span>
</td>
<td class="nump">&#8364; 375<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">PROFIT FOR THE YEAR</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(880)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProposedDistributionLegalReserve', window );">Legal reserve</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProposedDistributionOtherReserves', window );">Unrestricted reserves</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (880)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid by the entity on ordinary shares. [Refer: Ordinary shares [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2022-03-24<br> -Paragraph 16A<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=34&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinarySharesPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid per ordinary share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2022-03-24<br> -Paragraph 16A<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=34&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinarySharesPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the number of shares outstanding. [Refer: Number of shares outstanding]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal value per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 18<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 39L<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2023-01-01<br> -Name IFRS<br> -Number 17<br> -IssueDate 2022-03-24<br> -Paragraph 113<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=17&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_113_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FreeOfChargeAllotmentRightsTradingPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Free-Of-Charge Allotment Rights, Trading Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FreeOfChargeAllotmentRightsTradingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInShareCapitalPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Share Capital, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInShareCapitalPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfFreeOfChargeAllotmentRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Free-Of-Charge Allotment Rights</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfFreeOfChargeAllotmentRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfTranchesForDividendsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of tranches for dividends payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfTranchesForDividendsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Shareholders Issued Free-Of-Charge Allotment Rights Issued In Cash</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Shareholders Issued Free-Of-Charge Allotment Rights Issued In Shares</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProposedDistributionLegalReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proposed Distribution, Legal Reserve</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProposedDistributionLegalReserve</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProposedDistributionOtherReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proposed Distribution, Other Reserves</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProposedDistributionOtherReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781215328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Other Equity Instruments (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Nov. 30, 2022</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PremiumofTenderOfferofEquityInstrument', window );">Premium of tender offer</a></td>
<td class="num">&#8364; (1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (1)<span></span>
</td>
<td class="nump">&#8364; 61<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEuropeB.V.Member', window );">Telefonica Europe, B.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="num">(129)<span></span>
</td>
<td class="num">&#8364; (621)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember', window );">Retained earnings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax', window );">Payments on undated deeply subordinated securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">201<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="nump">&#8364; 335<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_TermDebtMember', window );">Term debt | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">7,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,550<span></span>
</td>
<td class="nump">7,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2028Issued11242021Member', window );">Exercisable from issuer in 2028 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="nump">750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2028Issued11242021Member', window );">Exercisable from issuer in 2028 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">2.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2029Issued02122021Member', window );">Exercisable from issuer in 2029 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2029Issued02122021Member', window );">Exercisable from issuer in 2029 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">2.376%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.376%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2027Issued020520Member', window );">Exercisable from issuer in 2027 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 500<span></span>
</td>
<td class="nump">500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2027Issued020520Member', window );">Exercisable from issuer in 2027 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">2.502%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.502%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2027Issued092419Member', window );">Exercisable from issuer in 2027 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 500<span></span>
</td>
<td class="nump">500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2027Issued092419Member', window );">Exercisable from issuer in 2027 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">2.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member', window );">Exercisable from issuer in 2025 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 1,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,300<span></span>
</td>
<td class="nump">1,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member', window );">Exercisable from issuer in 2025 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">4.375%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.375%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2023Issued032218Member', window );">Exercisable from issuer in 2023 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 824<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">824<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(74)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="nump">824<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2023Issued032218Member', window );">Exercisable from issuer in 2023 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2026Member', window );">Exercisable from issuer in 2026, issued 03/22/18 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2026Member', window );">Exercisable from issuer in 2026, issued 03/22/18 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">3.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2023Issued120717Member', window );">Exercisable from issuer in 2023 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 676<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">676<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(547)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(129)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">676<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2023Issued120717Member', window );">Exercisable from issuer in 2023 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">2.625%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.625%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2024Member', window );">Exercisable from issuer in 2024 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2024Member', window );">Exercisable from issuer in 2024 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">5.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.875%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SubordinatedSecuritiesIssuedFebruary2021Member', window );">Subordinated securities, issued February 2021 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2028Issued11232022Member', window );">Undated Deeply Subordinated Securities, Exercisable From Issuer In 2028, Issued 11/23/2022 | Gross carrying amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityInstrumentsRollForward', window );"><strong>Equity Instruments [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenderOfferofEquityInstrument', window );">Tender Offer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RedemptionofEquityInstrument', window );">Redemption</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Carrying value of deeply subordinated securities, ending balance</a></td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2028Issued11232022Member', window );">Undated Deeply Subordinated Securities, Exercisable From Issuer In 2028, Issued 11/23/2022 | Fixed interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Annual&#160; Fix&#160;&#160;&#160;&#160;&#160;</a></td>
<td class="nump">7.125%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.125%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AmountRepurchasedofEquityInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount Repurchased of Equity Instrument</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AmountRepurchasedofEquityInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EquityInstrumentsRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity Instruments [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EquityInstrumentsRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments of Coupon Related to Undated Deeply Subordinated Debt, Net of Tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsofCouponRelatedtoUndatedDeeplySubordinatedDebtNetofTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PremiumofTenderOfferofEquityInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Premium of Tender Offer of Equity Instrument</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PremiumofTenderOfferofEquityInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RedemptionofEquityInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Redemption of Equity Instrument</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RedemptionofEquityInstrument</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tender Offer of Equity Instrument</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TenderOfferofEquityInstrument</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TermDebtMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
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<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2028Issued11242021Member</td>
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<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
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<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2027Issued020520Member</td>
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<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerin2025Issued031419Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td></td>
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<tr>
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<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489792508064">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Equity - Legal Reserve (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LegalReserveRequiredPercentageOfProfits', window );">Legal reserve, required proportion of profits (as a percent)</a></td>
<td class="nump">10.00%<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LegalReserveMinimumPercentageOfShareCapital', window );">Legal reserve, minimum proportion of share capital (as a percent)</a></td>
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<td class="nump">10.00%<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Legal reserve</a></td>
<td class="nump">&#8364; 1,059<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LegalReservePercentageOfShareCapital', window );">Legal reserve, proportion of share capital (as a percent)</a></td>
<td class="nump">18.34%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatutoryReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing reserves created based on legal requirements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatutoryReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Legal Reserve, Increase Share Capital, Threshold Allowable To Increase Capital</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LegalReserveIncreaseShareCapitalThresholdAllowableToIncreaseCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LegalReserveMinimumPercentageOfShareCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Legal Reserve, Minimum Percentage Of Share Capital</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LegalReserveMinimumPercentageOfShareCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LegalReservePercentageOfShareCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Legal Reserve, Percentage Of Share Capital</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LegalReservePercentageOfShareCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LegalReserveRequiredPercentageOfProfits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Legal Reserve, Required Percentage Of Profits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LegalReserveRequiredPercentageOfProfits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareCapitalReservesAndOtherEquityInterestAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share capital, reserves and other equity interest [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareCapitalReservesAndOtherEquityInterestAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</body>
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<DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799266272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Revaluation Reserves and Reserve for Canceled Share Capital (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareCapitalReservesAndOtherEquityInterestAbstract', window );"><strong>Share Capital, Reserves And Other Equity Interest [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings', window );">Increase through appropriation of retained earnings</a></td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="nump">&#8364; 4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevaluationSurplus', window );">Revaluation reserve</a></td>
<td class="nump">54<span></span>
</td>
<td class="nump">58<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CapitalRedemptionReserveRecorded', window );">Capital redemption reserve recorded</a></td>
<td class="nump">139<span></span>
</td>
<td class="nump">&#8364; 83<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CapitalRedemptionReserve', window );">Capital redemption reserve</a></td>
<td class="nump">&#8364; 954<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CapitalRedemptionReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the reserve for the redemption of the entity's own shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CapitalRedemptionReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from transfers between a revaluation surplus and retained earnings. [Refer: Retained earnings; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevaluationSurplus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the accumulated revaluation surplus on the revaluation of assets recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevaluationSurplus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CapitalRedemptionReserveRecorded">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capital redemption reserve recorded</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CapitalRedemptionReserveRecorded</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareCapitalReservesAndOtherEquityInterestAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share capital, reserves and other equity interest [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareCapitalReservesAndOtherEquityInterestAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799068624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Translation Differences (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 01, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Accumulated contribution of translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (20,723)<span></span>
</td>
<td class="num">&#8364; (21,892)<span></span>
</td>
<td class="num">&#8364; (25,980)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersMember', window );">Telxius Towers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ForeignExchangeLoss', window );">Foreign exchange loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeCostaRicaMember', window );">Telef&#243;nica de Costa Rica TC, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ForeignExchangeLoss', window );">Foreign exchange loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ForeignExchangeLoss', window );">Foreign exchange loss</a></td>
<td class="nump">&#8364; 3,135<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">Brazilian real</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Accumulated contribution of translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(14,031)<span></span>
</td>
<td class="num">(15,292)<span></span>
</td>
<td class="num">(15,365)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">Pound sterling</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Accumulated contribution of translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(322)<span></span>
</td>
<td class="nump">309<span></span>
</td>
<td class="num">(3,344)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_VES', window );">Venezuelan bolivar</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Accumulated contribution of translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,734)<span></span>
</td>
<td class="num">(3,755)<span></span>
</td>
<td class="num">(3,754)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_ARS', window );">Argentine peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Accumulated contribution of translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,364)<span></span>
</td>
<td class="num">(1,702)<span></span>
</td>
<td class="num">(2,178)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_OtherCurrenciesMember', window );">Other currencies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems', window );"><strong>Disclosure of reserves within equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation', window );">Accumulated contribution of translation differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">&#8364; (1,272)<span></span>
</td>
<td class="num">&#8364; (1,452)<span></span>
</td>
<td class="num">&#8364; (1,339)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfReservesWithinEquityLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfReservesWithinEquityLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gross loss arising from exchange differences recognised in profit or loss, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReserveOfExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing exchange differences on translation of financial statements recognised in other comprehensive income and accumulated in equity. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReserveOfExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeCostaRicaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeCostaRicaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_BRL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_BRL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_GBP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_GBP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_VES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_VES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_ARS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_ARS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=tef_OtherCurrenciesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=tef_OtherCurrenciesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
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<DOCUMENT>
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<FILENAME>R153.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784188320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Treasury Share Instruments (Details) - EUR (&#8364;)<br> &#8364; / shares in Units, &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Feb. 28, 2020</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasuryShareAcquisitionPrice', window );">Acquisition price (EUR per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4.00<span></span>
</td>
<td class="nump">&#8364; 3.92<span></span>
</td>
<td class="nump">&#8364; 4.84<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasuryShareTradingPrice', window );">Trading price (EUR per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.39<span></span>
</td>
<td class="nump">&#8364; 3.85<span></span>
</td>
<td class="nump">&#8364; 3.25<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesMarketValue', window );">Market value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 288<span></span>
</td>
<td class="nump">&#8364; 537<span></span>
</td>
<td class="nump">&#8364; 319<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesAsAPercentofTotalShares', window );">Proportion of total shares classified as treasury shares (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.476%<span></span>
</td>
<td class="nump">2.411%<span></span>
</td>
<td class="nump">1.777%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesActivityRollForward', window );"><strong>Treasury Shares Activity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfTreasuryShares', window );">Purchase of treasury shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 365<span></span>
</td>
<td class="nump">&#8364; 478<span></span>
</td>
<td class="nump">&#8364; 234<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 11,587<span></span>
</td>
<td class="nump">&#8364; 12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeFinancialInstrumentSharesEquivalent', window );">Derivative financial instrument notional shares equivalent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">193,000,000<span></span>
</td>
<td class="nump">192,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember', window );">Treasury shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems', window );"><strong>Disclosure of classes of share capital [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85,217,621<span></span>
</td>
<td class="nump">139,329,370<span></span>
</td>
<td class="nump">98,231,380<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesActivityRollForward', window );"><strong>Treasury Shares Activity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Treasury shares, beginning balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">139,329,370<span></span>
</td>
<td class="nump">98,231,380<span></span>
</td>
<td class="nump">77,562,635<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommonSharesAcquired', window );">Acquisitions (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">90,403,530<span></span>
</td>
<td class="nump">122,032,764<span></span>
</td>
<td class="nump">68,640,303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesScripDividend', window );">Scrip dividend (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">563,415<span></span>
</td>
<td class="nump">6,291,518<span></span>
</td>
<td class="nump">6,252,817<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfShareAwardsInShareBasedPaymentArrangements', window );">Employee share option plan (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,391,956)<span></span>
</td>
<td class="num">(4,329,826)<span></span>
</td>
<td class="num">(3,118,898)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInSharesOutstandingFromCapitalIncreaseReduction', window );">Capital increase (reduction) (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(139,275,057)<span></span>
</td>
<td class="num">(82,896,466)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesOtherIncreaseDecrease', window );">Treasury shares, other increase (decrease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(51,105,477)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesDisposal', window );">Treasury shares, sales (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(411,681)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Treasury shares, ending balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85,217,621<span></span>
</td>
<td class="nump">139,329,370<span></span>
</td>
<td class="nump">98,231,380<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProsegurAlarmasEspaaSLMember', window );">Movistar Prosegur Alarmas</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesActivityRollForward', window );"><strong>Treasury Shares Activity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember', window );">Associates and Joint Ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesActivityRollForward', window );"><strong>Treasury Shares Activity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 11,587<span></span>
</td>
<td class="nump">&#8364; 12,773<span></span>
</td>
<td class="nump">&#8364; 427<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember', window );">Associates and Joint Ventures | Movistar Prosegur Alarmas</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TreasurySharesActivityRollForward', window );"><strong>Treasury Shares Activity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionOfOwnershipInterestInEquityMethodInvestment', window );">Proportion of ownership interest in equity method investment</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSharesIssuedForEquityMethodInvestment', window );">Number of shares issued for equity method investment (in shares)</a></td>
<td class="nump">49,545,262<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 266<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfClassesOfShareCapitalLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B16&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfTreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in equity resulting from the purchase of treasury shares. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfTreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CommonSharesAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Common Shares Acquired</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CommonSharesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DerivativeFinancialInstrumentSharesEquivalent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Derivative Financial Instrument Shares Equivalent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DerivativeFinancialInstrumentSharesEquivalent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInSharesOutstandingFromCapitalIncreaseReduction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Shares Outstanding From Capital Increase (Reduction)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInSharesOutstandingFromCapitalIncreaseReduction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfShareAwardsInShareBasedPaymentArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Share Awards In Share Based Payment Arrangements</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfShareAwardsInShareBasedPaymentArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfSharesIssuedForEquityMethodInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Shares Issued For Equity Method Investment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfSharesIssuedForEquityMethodInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProportionOfOwnershipInterestInEquityMethodInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proportion Of Ownership Interest In Equity Method Investment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProportionOfOwnershipInterestInEquityMethodInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasuryShareAcquisitionPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Share Acquisition Price</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasuryShareAcquisitionPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasuryShareTradingPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Share Trading Price</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasuryShareTradingPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasurySharesActivityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Shares Activity [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasurySharesActivityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasurySharesAsAPercentofTotalShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Shares As A Percent of Total Shares</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasurySharesAsAPercentofTotalShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasurySharesDisposal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Shares, Disposal</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasurySharesDisposal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasurySharesMarketValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Shares, Market Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasurySharesMarketValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasurySharesOtherIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Shares, Other Increase (Decrease)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasurySharesOtherIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TreasurySharesScripDividend">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Treasury Shares Scrip Dividend</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TreasurySharesScripDividend</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProsegurAlarmasEspaaSLMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AssociatesandJointVenturesAxis=tef_AssociatesandJointVenturesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489778004048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Equity Attributable to Non-Controlling Interests (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Beginning balance</a></td>
<td class="nump">&#8364; 6,477<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Profit/(loss) for the year</a></td>
<td class="nump">308<span></span>
</td>
<td class="nump">&#8364; 2,580<span></span>
</td>
<td class="nump">&#8364; 375<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">59<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Ending balance</a></td>
<td class="nump">6,620<span></span>
</td>
<td class="nump">6,477<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomMember', window );">Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">645<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">645<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersGermanyGmbhMember', window );">Telxius Towers Germany Gmbh</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset', window );">Increase in deferred tax asset</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">184<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests | Telef&#244;nica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Beginning balance</a></td>
<td class="nump">3,106<span></span>
</td>
<td class="nump">3,106<span></span>
</td>
<td class="nump">4,442<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Acquisitions of non-controlling interests and exclusion of companies</a></td>
<td class="num">(86)<span></span>
</td>
<td class="num">(63)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterests', window );">Dividends paid</a></td>
<td class="num">(241)<span></span>
</td>
<td class="num">(236)<span></span>
</td>
<td class="num">(272)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Profit/(loss) for the year</a></td>
<td class="nump">198<span></span>
</td>
<td class="nump">271<span></span>
</td>
<td class="nump">217<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity', window );">Change in translation differences</a></td>
<td class="nump">425<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="num">(1,296)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="num">(3)<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Ending balance</a></td>
<td class="nump">3,399<span></span>
</td>
<td class="nump">3,106<span></span>
</td>
<td class="nump">3,106<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests | Telef&#243;nica Deutschland Holding, A.G.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Beginning balance</a></td>
<td class="nump">2,353<span></span>
</td>
<td class="nump">2,346<span></span>
</td>
<td class="nump">2,544<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Acquisitions of non-controlling interests and exclusion of companies</a></td>
<td class="num">(48)<span></span>
</td>
<td class="num">(56)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterests', window );">Dividends paid</a></td>
<td class="num">(161)<span></span>
</td>
<td class="num">(165)<span></span>
</td>
<td class="num">(156)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Profit/(loss) for the year</a></td>
<td class="nump">68<span></span>
</td>
<td class="nump">218<span></span>
</td>
<td class="num">(30)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity', window );">Change in translation differences</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">25<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="num">(12)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Ending balance</a></td>
<td class="nump">2,237<span></span>
</td>
<td class="nump">2,353<span></span>
</td>
<td class="nump">2,346<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests | Colombia Telecomunicaciones, S.A., ESP</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Beginning balance</a></td>
<td class="nump">409<span></span>
</td>
<td class="nump">408<span></span>
</td>
<td class="nump">526<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Acquisitions of non-controlling interests and exclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterests', window );">Dividends paid</a></td>
<td class="num">(7)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Profit/(loss) for the year</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity', window );">Change in translation differences</a></td>
<td class="num">(47)<span></span>
</td>
<td class="num">(28)<span></span>
</td>
<td class="num">(62)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="num">(7)<span></span>
</td>
<td class="nump">22<span></span>
</td>
<td class="num">(67)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Ending balance</a></td>
<td class="nump">344<span></span>
</td>
<td class="nump">409<span></span>
</td>
<td class="nump">408<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Beginning balance</a></td>
<td class="nump">546<span></span>
</td>
<td class="nump">1,089<span></span>
</td>
<td class="nump">681<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">323<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Acquisitions of non-controlling interests and exclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterests', window );">Dividends paid</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(2,645)<span></span>
</td>
<td class="num">(44)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Profit/(loss) for the year</a></td>
<td class="nump">50<span></span>
</td>
<td class="nump">2,098<span></span>
</td>
<td class="nump">187<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity', window );">Change in translation differences</a></td>
<td class="nump">13<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="num">(69)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="num">(10)<span></span>
</td>
<td class="num">(12)<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Ending balance</a></td>
<td class="nump">599<span></span>
</td>
<td class="nump">546<span></span>
</td>
<td class="nump">1,089<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">323<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests | Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Beginning balance</a></td>
<td class="nump">63<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="nump">139<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">23<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Acquisitions of non-controlling interests and exclusion of companies</a></td>
<td class="num">(44)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterests', window );">Dividends paid</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="num">(44)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Profit/(loss) for the year</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(14)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity', window );">Change in translation differences</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Ending balance</a></td>
<td class="nump">41<span></span>
</td>
<td class="nump">63<span></span>
</td>
<td class="nump">76<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">23<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember', window );">Non-controlling interests | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityAttributabletoNonControllingInterestsRollForward', window );"><strong>Equity Attributable to Non-Controlling Interests [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Beginning balance</a></td>
<td class="nump">6,477<span></span>
</td>
<td class="nump">7,025<span></span>
</td>
<td class="nump">8,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">23<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">321<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Acquisitions of non-controlling interests and exclusion of companies</a></td>
<td class="num">(178)<span></span>
</td>
<td class="num">(119)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidToNoncontrollingInterests', window );">Dividends paid</a></td>
<td class="num">(411)<span></span>
</td>
<td class="num">(3,051)<span></span>
</td>
<td class="num">(516)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Profit/(loss) for the year</a></td>
<td class="nump">308<span></span>
</td>
<td class="nump">2,580<span></span>
</td>
<td class="nump">375<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity', window );">Change in translation differences</a></td>
<td class="nump">393<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="num">(1,435)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity', window );">Other movements</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="num">(49)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Ending balance</a></td>
<td class="nump">6,620<span></span>
</td>
<td class="nump">6,477<span></span>
</td>
<td class="nump">7,025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">Sales of non-controlling interests and inclusion of companies</a></td>
<td class="nump">&#8364; 23<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 321<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid to non-controlling interests. [Refer: Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a deferred tax liability (asset). [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the acquisition of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the disposal of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 106<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2022-03-24<br> -Paragraph 22<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=10&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph q<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing and discontinued operations attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 12<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EquityAttributabletoNonControllingInterestsRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity Attributable to Non-Controlling Interests [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EquityAttributabletoNonControllingInterestsRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Change In Translation Differences, Equity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughChangeInTranslationDifferencesEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersGermanyGmbhMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersGermanyGmbhMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_NoncontrollingInterestsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeutschlandHoldingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeutschlandHoldingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OTHERMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807856848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Financial Position Disclosures (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">&#8364; 39,993<span></span>
</td>
<td class="nump">&#8364; 39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="num">(8,796)<span></span>
</td>
<td class="num">(8,397)<span></span>
</td>
<td class="num">(9,359)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating income</a></td>
<td class="nump">4,056<span></span>
</td>
<td class="nump">13,586<span></span>
</td>
<td class="nump">4,139<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">Capital Expenditure</a></td>
<td class="nump">5,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Fixed Assets</a></td>
<td class="nump">23,714<span></span>
</td>
<td class="nump">22,725<span></span>
</td>
<td class="nump">23,769<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">109,642<span></span>
</td>
<td class="nump">109,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">1,517<span></span>
</td>
<td class="nump">1,312<span></span>
</td>
<td class="nump">1,249<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="nump">569<span></span>
</td>
<td class="nump">413<span></span>
</td>
<td class="nump">438<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="num">(308)<span></span>
</td>
<td class="num">(314)<span></span>
</td>
<td class="num">(325)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating income</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">99<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">Capital Expenditure</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">151<span></span>
</td>
<td class="nump">156<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Fixed Assets</a></td>
<td class="nump">1,116<span></span>
</td>
<td class="nump">1,264<span></span>
</td>
<td class="nump">1,530<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">2,696<span></span>
</td>
<td class="nump">2,725<span></span>
</td>
<td class="nump">2,864<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">2,001<span></span>
</td>
<td class="nump">1,878<span></span>
</td>
<td class="nump">2,049<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Revenues</a></td>
<td class="nump">421<span></span>
</td>
<td class="nump">587<span></span>
</td>
<td class="nump">826<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueAndOperatingIncome', window );">OIBDA</a></td>
<td class="nump">218<span></span>
</td>
<td class="nump">6,332<span></span>
</td>
<td class="nump">520<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="num">(66)<span></span>
</td>
<td class="num">(72)<span></span>
</td>
<td class="num">(269)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Operating income</a></td>
<td class="nump">152<span></span>
</td>
<td class="nump">6,260<span></span>
</td>
<td class="nump">251<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure', window );">Capital Expenditure</a></td>
<td class="nump">65<span></span>
</td>
<td class="nump">91<span></span>
</td>
<td class="nump">348<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Fixed Assets</a></td>
<td class="nump">507<span></span>
</td>
<td class="nump">475<span></span>
</td>
<td class="nump">452<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">2,129<span></span>
</td>
<td class="nump">2,083<span></span>
</td>
<td class="nump">2,840<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">&#8364; 1,163<span></span>
</td>
<td class="nump">&#8364; 1,225<span></span>
</td>
<td class="nump">&#8364; 2,785<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
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<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsForDevelopmentProjectExpenditure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for expenditure related to development projects.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsForDevelopmentProjectExpenditure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2022-03-24<br> -Paragraph IE33<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=32&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueAndOperatingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of the entity's revenue and other operating income. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueAndOperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelxiusTelecomSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelxiusTelecomSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780553296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Cash Flow Disclosures (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash flow provided by operating activities</a></td>
<td class="nump">&#8364; 11,763<span></span>
</td>
<td class="nump">&#8364; 10,268<span></span>
</td>
<td class="nump">&#8364; 13,196<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash flow used in investing activities</a></td>
<td class="num">(5,327)<span></span>
</td>
<td class="nump">5,896<span></span>
</td>
<td class="num">(7,790)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash flow used in financing activities</a></td>
<td class="num">(7,925)<span></span>
</td>
<td class="num">(12,990)<span></span>
</td>
<td class="num">(5,438)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Net increase (decrease) in cash and cash equivalents during the year</a></td>
<td class="num">(1,335)<span></span>
</td>
<td class="nump">2,976<span></span>
</td>
<td class="num">(438)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash flow provided by operating activities</a></td>
<td class="nump">3,678<span></span>
</td>
<td class="nump">2,949<span></span>
</td>
<td class="nump">3,517<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash flow used in investing activities</a></td>
<td class="num">(2,741)<span></span>
</td>
<td class="num">(1,295)<span></span>
</td>
<td class="num">(1,238)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash flow used in financing activities</a></td>
<td class="num">(1,674)<span></span>
</td>
<td class="num">(1,467)<span></span>
</td>
<td class="num">(1,817)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Net increase (decrease) in cash and cash equivalents during the year</a></td>
<td class="num">(737)<span></span>
</td>
<td class="nump">187<span></span>
</td>
<td class="nump">462<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash flow provided by operating activities</a></td>
<td class="nump">2,732<span></span>
</td>
<td class="nump">2,407<span></span>
</td>
<td class="nump">2,386<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash flow used in investing activities</a></td>
<td class="num">(1,608)<span></span>
</td>
<td class="num">(875)<span></span>
</td>
<td class="num">(459)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash flow used in financing activities</a></td>
<td class="num">(1,339)<span></span>
</td>
<td class="num">(1,820)<span></span>
</td>
<td class="num">(1,342)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Net increase (decrease) in cash and cash equivalents during the year</a></td>
<td class="num">(215)<span></span>
</td>
<td class="num">(288)<span></span>
</td>
<td class="nump">585<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash flow provided by operating activities</a></td>
<td class="nump">180<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="nump">276<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash flow used in investing activities</a></td>
<td class="nump">30<span></span>
</td>
<td class="num">(153)<span></span>
</td>
<td class="num">(189)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash flow used in financing activities</a></td>
<td class="num">(225)<span></span>
</td>
<td class="num">(218)<span></span>
</td>
<td class="num">(42)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Net increase (decrease) in cash and cash equivalents during the year</a></td>
<td class="num">(15)<span></span>
</td>
<td class="num">(27)<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash flow provided by operating activities</a></td>
<td class="nump">152<span></span>
</td>
<td class="num">(627)<span></span>
</td>
<td class="nump">528<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash flow used in investing activities</a></td>
<td class="num">(63)<span></span>
</td>
<td class="nump">6,874<span></span>
</td>
<td class="num">(1,141)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash flow used in financing activities</a></td>
<td class="num">(89)<span></span>
</td>
<td class="num">(6,164)<span></span>
</td>
<td class="nump">575<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Net increase (decrease) in cash and cash equivalents during the year</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 83<span></span>
</td>
<td class="num">&#8364; (38)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationLineItems</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents after the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaBrazilMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaGermanyMember</td>
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<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelxiusTelecomSAMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781828720">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial Liabilities - Maturity Analysis of Financial Liabilities (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">&#8364; 4,544<span></span>
</td>
<td class="nump">&#8364; 4,693<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">31,268<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">899<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">32,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">4,544<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">2,368<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">39,079<span></span>
</td>
<td class="nump">&#8364; 42,295<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">1,948<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">544<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">2,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">1,184<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">4,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">1,130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">1,257<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">673<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">2,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">3,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">54<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">3,180<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">3,817<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">2,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">2,110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">202<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">109<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">2,421<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">4,170<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">4,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">376<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">520<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">5,069<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">18,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">18,955<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">1,537<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">1,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">21,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Non-current total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssuedUndiscountedCashFlows', window );">Debentures and bonds</a></td>
<td class="nump">29,320<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BankBorrowingsUndiscountedCashFlows', window );">Promissory notes &amp; commercial paper</a></td>
<td class="nump">355<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total Issues</a></td>
<td class="nump">29,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">3,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows', window );">Derivative instruments (Note 19)</a></td>
<td class="nump">2,024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total</a></td>
<td class="nump">&#8364; 35,059<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankBorrowingsUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to bank borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankBorrowingsUndiscountedCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BondsIssuedUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to bonds issued. [Refer: Bonds issued]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BondsIssuedUndiscountedCashFlows</td>
</tr>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to trade and other payables. [Refer: Trade and other payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>174
<FILENAME>R158.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807093200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Liabilities - Narrative (Details) - EUR (&#8364;)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment', window );">Pending payment amount from undiscounted cash flows of loans and other payables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 36,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade', window );">Payments made from undiscounted cash flows of loans and other payables</a></td>
<td class="nump">&#8364; 41,000,000<span></span>
</td>
<td class="nump">108,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BondsIssued', window );">Debentures and bonds issued</a></td>
<td class="nump">31,095,000,000<span></span>
</td>
<td class="nump">32,156,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Commercialpapersissuable', window );">Commercial papers issuable</a></td>
<td class="nump">5,000,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">31,095,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CommercialPapersIssued', window );">Commercial papers issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">999,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Promissorynotesissuableallowedincrease', window );">Promissory notes issuable, allowed increase</a></td>
<td class="nump">500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsRemainingBorrowingCapacity', window );">Available financing capacity</a></td>
<td class="nump">11,737,000,000<span></span>
</td>
<td class="nump">12,182,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives', window );">Available financing capacity related to fulfillment of sustainability objectives</a></td>
<td class="nump">10,114,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsMaturinginmorethanTwelveMonths', window );">Borrowings maturing in more than twelve months</a></td>
<td class="nump">11,434,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedBilateralFacilitiesMember', window );">Sustainability Linked Bilateral Facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives', window );">Available financing capacity related to fulfillment of sustainability objectives</a></td>
<td class="nump">3,864,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG | Syndicated Loan Due December 17, 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives', window );">Available financing capacity related to fulfillment of sustainability objectives</a></td>
<td class="nump">750,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit', window );">Collateral liabilities deposit</a></td>
<td class="nump">580,000,000<span></span>
</td>
<td class="nump">&#8364; 309,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Credit Facility due March 01, 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives', window );">Available financing capacity related to fulfillment of sustainability objectives</a></td>
<td class="nump">5,500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=srt_MaximumMember', window );">Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Promissorynotesissuableallowedincrease', window );">Promissory notes issuable, allowed increase</a></td>
<td class="nump">&#8364; 2,000,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=srt_LatinAmericaMember', window );">Latin America</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionOfGrossDebt', window );">Proportion of gross debt (as a percent)</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest payable</a></td>
<td class="nump">&#8364; 1,254,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">1,477,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest payable</a></td>
<td class="nump">1,147,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">1,130,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest payable</a></td>
<td class="nump">1,057,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">3,130,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest payable</a></td>
<td class="nump">978,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">2,101,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest payable</a></td>
<td class="nump">871,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">4,178,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPayable', window );">Interest payable</a></td>
<td class="nump">7,840,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">19,079,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_DerivativesMember', window );">Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentFinancialLiabilitiesAtFairValue', window );">Fair value of current financial liabilities</a></td>
<td class="nump">712,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentFinancialLiabilitiesAtFairValue', window );">Fair value of non-current liabilities</a></td>
<td class="nump">2,668,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_CommercialPaperMember', window );">Commercial Paper</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">&#8364; 500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsAverageInterestRate', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.28%<span></span>
</td>
<td class="nump">0.46%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_PromissoryNoteMember', window );">Promissory note</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Promissory notes issued</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 30,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_LoansAndOtherPayablesMember', window );">Loans and other payables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsAverageInterestRate', window );">Average interest rate (as a percent)</a></td>
<td class="nump">3.45%<span></span>
</td>
<td class="nump">1.30%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BondsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of bonds issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BondsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CommercialPapersIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of commercial paper issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CommercialPapersIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest recognised as a liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BorrowingsAverageInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Borrowings, Average Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BorrowingsAverageInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BorrowingsMaturinginmorethanTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Borrowings Maturing in more than Twelve Months</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BorrowingsMaturinginmorethanTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BorrowingsRemainingBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Borrowings, Remaining Borrowing Capacity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BorrowingsRemainingBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Borrowings, Remaining Borrowing Capacity, Fulfillment Of Sustainability Objectives</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BorrowingsRemainingBorrowingCapacityFulfillmentOfSustainabilityObjectives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Commercialpapersissuable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commercial papers issuable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Commercialpapersissuable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentFinancialLiabilitiesAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Financial Liabilities, At Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentFinancialLiabilitiesAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NoncurrentFinancialLiabilitiesAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-current Financial Liabilities, At Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NoncurrentFinancialLiabilitiesAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments (Collections) Related To Collateral Liabilities Deposit</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsCollectionsRelatedToCollateralLiabilitiesDeposit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Promissorynotesissuableallowedincrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Promissory notes issuable, allowed increase</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Promissorynotesissuableallowedincrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProportionOfGrossDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proportion Of Gross Debt</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProportionOfGrossDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trade And Other Payables, Undiscounted Cash Flows, Payments Made</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trade And Other Payables, Undiscounted Cash Flows, Pending Payment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedBilateralFacilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedBilateralFacilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaGermanyGmbHCoOHGMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaGermanyGmbHCoOHGMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueDecember172026Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueDecember172026Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_CreditFacilityDueMarch012023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_CreditFacilityDueMarch012023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=srt_LatinAmericaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=srt_LatinAmericaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_CommercialPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_CommercialPaperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_PromissoryNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_PromissoryNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_LoansAndOtherPayablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_LoansAndOtherPayablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>175
<FILENAME>R159.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784240304">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial Liabilities - Breakdown of Financial Liabilities (Details) - Telef&#243;nica, S.A. - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">&#8364; 39,079<span></span>
</td>
<td class="nump">&#8364; 42,295<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Total fair value</a></td>
<td class="nump">36,196<span></span>
</td>
<td class="nump">46,262<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">2,368<span></span>
</td>
<td class="nump">2,188<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">973<span></span>
</td>
<td class="nump">524<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">1,395<span></span>
</td>
<td class="nump">1,670<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Liabilities at amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">36,711<span></span>
</td>
<td class="nump">40,101<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">32,167<span></span>
</td>
<td class="nump">35,408<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Total fair value</a></td>
<td class="nump">29,314<span></span>
</td>
<td class="nump">39,412<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Issues | Liabilities at amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">32,167<span></span>
</td>
<td class="nump">35,408<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">4,544<span></span>
</td>
<td class="nump">4,693<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Total fair value</a></td>
<td class="nump">4,514<span></span>
</td>
<td class="nump">4,656<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables | Hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Loans and other payables | Liabilities at amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">4,544<span></span>
</td>
<td class="nump">4,693<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">2,368<span></span>
</td>
<td class="nump">2,194<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );">Total fair value</a></td>
<td class="nump">2,368<span></span>
</td>
<td class="nump">2,194<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Derivative instruments | Level 1 (Quoted prices)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Derivative instruments | Level 2 (Other directly observable market inputs)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">2,368<span></span>
</td>
<td class="nump">2,188<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Derivative instruments | Level 3 (Inputs not based on observable market data)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Derivative instruments | Held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">973<span></span>
</td>
<td class="nump">524<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Derivative instruments | Fair value option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Derivative instruments | Hedges</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
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<tr class="rh">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialLiabilitiesLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial liabilities. [Refer: At fair value [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValue</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossThatMeetDefinitionOfHeldForTradingCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossThatMeetDefinitionOfHeldForTradingCategoryMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAxis=tef_FinancialLiabilitiesAtFairValueThroughOtherComprehensiveIncomeCategoryMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialLiabilitiesAxis=tef_DebtIssuancesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialLiabilitiesAxis=tef_LoansAndOtherPayablesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialLiabilitiesAxis=ifrs-full_DerivativesMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489790863104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Liabilities - Schedule of Change in Financial Liabilities (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of offsetting of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities, beginning balance</a></td>
<td class="nump">&#8364; 33,920<span></span>
</td>
<td class="nump">&#8364; 38,749<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AcquisitionsofFinancialLiabilities', window );">Cash received</a></td>
<td class="nump">1,746<span></span>
</td>
<td class="nump">561<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsofFinancialLiabilities', window );">Cash paid</a></td>
<td class="num">(3,541)<span></span>
</td>
<td class="num">(5,847)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TranslationDifferencesofFinancialLiabilities', window );">Translation differences and exchange gains and losses</a></td>
<td class="nump">724<span></span>
</td>
<td class="nump">889<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueAdjustmentsandFinancialUpdatesofFinancialLiabilities', window );">Financial updates</a></td>
<td class="num">(1,623)<span></span>
</td>
<td class="num">(444)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughothermovementsfinancialliabilities', window );">Other movements</a></td>
<td class="nump">42<span></span>
</td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities, ending balance</a></td>
<td class="nump">31,268<span></span>
</td>
<td class="nump">33,920<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_PromissoryNotesAndCommercialPaperMember', window );">Promissory notes and commercial paper</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of offsetting of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities, beginning balance</a></td>
<td class="nump">1,488<span></span>
</td>
<td class="nump">2,273<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AcquisitionsofFinancialLiabilities', window );">Cash received</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">53<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsofFinancialLiabilities', window );">Cash paid</a></td>
<td class="num">(600)<span></span>
</td>
<td class="num">(1,042)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TranslationDifferencesofFinancialLiabilities', window );">Translation differences and exchange gains and losses</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueAdjustmentsandFinancialUpdatesofFinancialLiabilities', window );">Financial updates</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughothermovementsfinancialliabilities', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">199<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities, ending balance</a></td>
<td class="nump">899<span></span>
</td>
<td class="nump">1,488<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_InterestBearingDebtMember', window );">Loans and other payables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of offsetting of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities, beginning balance</a></td>
<td class="nump">4,693<span></span>
</td>
<td class="nump">4,535<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AcquisitionsofFinancialLiabilities', window );">Cash received</a></td>
<td class="nump">742<span></span>
</td>
<td class="nump">3,120<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsofFinancialLiabilities', window );">Cash paid</a></td>
<td class="num">(1,802)<span></span>
</td>
<td class="num">(3,178)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TranslationDifferencesofFinancialLiabilities', window );">Translation differences and exchange gains and losses</a></td>
<td class="nump">55<span></span>
</td>
<td class="num">(32)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueAdjustmentsandFinancialUpdatesofFinancialLiabilities', window );">Financial updates</a></td>
<td class="num">(38)<span></span>
</td>
<td class="nump">80<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughothermovementsfinancialliabilities', window );">Other movements</a></td>
<td class="nump">894<span></span>
</td>
<td class="nump">168<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities, ending balance</a></td>
<td class="nump">&#8364; 4,544<span></span>
</td>
<td class="nump">&#8364; 4,693<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOffsettingOfFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AcquisitionsofFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Acquisitions of Financial Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AcquisitionsofFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalsofFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposals of Financial Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalsofFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FairValueAdjustmentsandFinancialUpdatesofFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair Value Adjustments and Financial Updates of Financial Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FairValueAdjustmentsandFinancialUpdatesofFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Increasedecreasethroughothermovementsfinancialliabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through other movements, financial liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Increasedecreasethroughothermovementsfinancialliabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TranslationDifferencesofFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Translation Differences of Financial Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TranslationDifferencesofFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_DebtIssuancesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_DebtIssuancesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_PromissoryNotesAndCommercialPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_PromissoryNotesAndCommercialPaperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_InterestBearingDebtMember">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781703168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial Liabilities - Interest-Bearing Debt (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 26, 2022</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Jan. 13, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 83,706<span></span>
</td>
<td class="nump">&#8364; 84,794<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">839<span></span>
</td>
<td class="nump">3,085<span></span>
</td>
<td class="nump">&#8364; 4,516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,077<span></span>
</td>
<td class="nump">4,146<span></span>
</td>
<td class="nump">&#8364; 2,852<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Bilateral Loan Due December 15, 2032</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Syndicated Loan Due January 13, 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Bilateral Loan Due June 23, 2033</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Syndicated loan due March 15, 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P. | Bilateral Loan Due January 6, 2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P. | Bilateral Loan Due 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="nump">&#8364; 132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A. | Bilateral Loan Due September 28, 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">199<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Syndicated loan due December 20, 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">245<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A. | Syndicated loan due December 1, 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">201<span></span>
</td>
<td class="nump">&#8364; 162<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Drawndown</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 70<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueDecember152032Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueDecember152032Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueJanuary132027Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueJanuary132027Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueJune232033Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueJune232033Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueMarch152026Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueMarch152026Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueJanuary62022Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDue2023Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaBrasilS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueSeptember282023Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_BlueviaFibraSLUMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueDecember202027Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelxiusTelecomSAMember</td>
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<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueDecember12024Member</td>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781820912">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial Liabilities - Loans by Currency (Details)<br> &#8364; in Millions, &#163; in Millions, R$ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>COP ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>GBP (&#163;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>UYU ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>CLP ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>COP ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>GBP (&#163;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>UYU ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>CLP ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">&#8364; 4,544<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,693<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">Euro</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">2,823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,148<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">U.S. dollar</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">481<span></span>
</td>
<td class="nump">$ 514<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">781<span></span>
</td>
<td class="nump">$ 885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">Brazilian real</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">303<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,688<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">Colombian peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">273<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,402,435<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">310<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,399,759<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 4,501<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 64<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">Uruguayan peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,456<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,456<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">Chilean peso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 181,601<span></span>
</td>
<td class="nump">186<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 177,845<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_OtherCurrenciesMember', window );">Other currencies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows', window );">Loans and other payables</a></td>
<td class="nump">&#8364; 120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to trade and other payables. [Refer: Trade and other payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph B11D<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B11D&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph IG31A<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG31A&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayablesUndiscountedCashFlows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_EUR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_EUR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_BRL</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_COP</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_MXN</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_UYU</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CLP</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=tef_OtherCurrenciesMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787211648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Exchange Rate Risk (Details)<br> &#8364; in Millions, Bs. in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>VEB (Bs.)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>VEB (Bs.)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems', window );"><strong>Disclosure of detailed information about hedging instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss', window );">Foreign exchange loss</a></td>
<td class="num">&#8364; (23.4)<span></span>
</td>
<td class="num">&#8364; (0.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentLiabilities', window );">Net debt held as a hedging instrument</a></td>
<td class="nump">26,687.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInIncomeDueToEffectOfInflationCorrection', window );">Increase in financial income due to the effect of monetary correction for inflation</a></td>
<td class="nump">&#8364; 101.0<span></span>
</td>
<td class="num">&#8364; (24.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_LatinAmericanDenominatedBorrowingsMember', window );">Latin American Denominated Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems', window );"><strong>Disclosure of detailed information about hedging instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NominalAmountOfHedgingInstrument', window );">Nominal amount of hedging instrument</a></td>
<td class="nump">6,360.0<span></span>
</td>
<td class="nump">6,853.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_USDollarDenominatedBorrowingsMember', window );">US Dollar Denominated Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems', window );"><strong>Disclosure of detailed information about hedging instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NominalAmountOfHedgingInstrument', window );">Nominal amount of hedging instrument</a></td>
<td class="nump">978.0<span></span>
</td>
<td class="nump">418.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_PoundsSterlingDenominatedBorrowingsMember', window );">Pounds Sterling Denominated Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems', window );"><strong>Disclosure of detailed information about hedging instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NominalAmountOfHedgingInstrument', window );">Nominal amount of hedging instrument</a></td>
<td class="nump">597.0<span></span>
</td>
<td class="nump">374.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_LatinAmericanCurrenciesVs.EURMember', window );">Latin American currencies vs USD</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems', window );"><strong>Disclosure of detailed information about hedging instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisIncreaseInExchangeRate', window );">Increase in exchange rate (in percentage)</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_VES', window );">VEB | Foreign currency exchange risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems', window );"><strong>Disclosure of detailed information about hedging instruments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentLiabilities', window );">Net debt held as a hedging instrument</a></td>
<td class="nump">&#8364; 87.0<span></span>
</td>
<td class="nump">&#8364; 13.0<span></span>
</td>
<td class="nump">Bs. 4,206<span></span>
</td>
<td class="nump">Bs. 240<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2022-03-24<br> -Paragraph 52<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=21&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a hedging instrument, recognised as a liability. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NominalAmountOfHedgingInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal amount of a hedging instrument. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 23B<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23B_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24A<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24A_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NominalAmountOfHedgingInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseInIncomeDueToEffectOfInflationCorrection">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase In Income Due To Effect Of Inflation Correction</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseInIncomeDueToEffectOfInflationCorrection</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SensitivityAnalysisIncreaseInExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase In Exchange Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisIncreaseInExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_LatinAmericanDenominatedBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_LatinAmericanDenominatedBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_USDollarDenominatedBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_USDollarDenominatedBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_PoundsSterlingDenominatedBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_PoundsSterlingDenominatedBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=tef_LatinAmericanCurrenciesVs.EURMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=tef_LatinAmericanCurrenciesVs.EURMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_VES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_VES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<FILENAME>R164.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799739552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Sensitivity of Foreign Currency Gains and Losses and of Equity Changes in Exchange Rates (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_AllCurrenciesVs.EURMember', window );">All currencies vs EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateAbstract', window );"><strong>Change</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisIncreaseInExchangeRate', window );">Increase in exchange rate (in percentage)</a></td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisDecreaseInExchangeRate', window );">Decrease in exchange rate</a></td>
<td class="num">(10.00%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnNetIncomeAbstract', window );"><strong>Impact on the consolidated income statement</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome', window );">Increase in net income</a></td>
<td class="num">&#8364; (11)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateDecreaseInNetIncome', window );">Decrease in net income</a></td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnConsolidatedEquityAbstract', window );"><strong>Impact on consolidated equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity', window );">Decrease in consolidated equity</a></td>
<td class="num">(314)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateIncreaseInConsolidatedEquity', window );">Increase in consolidated equity</a></td>
<td class="nump">&#8364; 314<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_USDvs.EURMember', window );">USD vs EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateAbstract', window );"><strong>Change</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisIncreaseInExchangeRate', window );">Increase in exchange rate (in percentage)</a></td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisDecreaseInExchangeRate', window );">Decrease in exchange rate</a></td>
<td class="num">(10.00%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnNetIncomeAbstract', window );"><strong>Impact on the consolidated income statement</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome', window );">Increase in net income</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateDecreaseInNetIncome', window );">Decrease in net income</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnConsolidatedEquityAbstract', window );"><strong>Impact on consolidated equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity', window );">Decrease in consolidated equity</a></td>
<td class="num">(48)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateIncreaseInConsolidatedEquity', window );">Increase in consolidated equity</a></td>
<td class="nump">&#8364; 48<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_OtherCurrenciesVsEURMember', window );">Other currencies vs EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateAbstract', window );"><strong>Change</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisIncreaseInExchangeRate', window );">Increase in exchange rate (in percentage)</a></td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisDecreaseInExchangeRate', window );">Decrease in exchange rate</a></td>
<td class="num">(10.00%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnNetIncomeAbstract', window );"><strong>Impact on the consolidated income statement</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome', window );">Increase in net income</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateDecreaseInNetIncome', window );">Decrease in net income</a></td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnConsolidatedEquityAbstract', window );"><strong>Impact on consolidated equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity', window );">Decrease in consolidated equity</a></td>
<td class="num">(56)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateIncreaseInConsolidatedEquity', window );">Increase in consolidated equity</a></td>
<td class="nump">&#8364; 56<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_LatinAmericanCurrenciesVs.EURMember', window );">Latin American currencies vs USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateAbstract', window );"><strong>Change</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisIncreaseInExchangeRate', window );">Increase in exchange rate (in percentage)</a></td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisDecreaseInExchangeRate', window );">Decrease in exchange rate</a></td>
<td class="num">(10.00%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnNetIncomeAbstract', window );"><strong>Impact on the consolidated income statement</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome', window );">Increase in net income</a></td>
<td class="num">&#8364; (12)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInForeignExchangeRateDecreaseInNetIncome', window );">Decrease in net income</a></td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateImpactOnConsolidatedEquityAbstract', window );"><strong>Impact on consolidated equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity', window );">Decrease in consolidated equity</a></td>
<td class="num">(210)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInExchangeRateIncreaseInConsolidatedEquity', window );">Increase in consolidated equity</a></td>
<td class="nump">&#8364; 210<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Exchange Rate, Decrease In Consolidated Equity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInExchangeRateDecreaseInConsolidatedEquity</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Exchange Rate, Impact On Consolidated Equity [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInExchangeRateImpactOnConsolidatedEquityAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Exchange Rate, Impact On Net Income [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInExchangeRateImpactOnNetIncomeAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Exchange Rate, Increase In Consolidated Equity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInExchangeRateIncreaseInConsolidatedEquity</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Foreign Exchange Rate [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInForeignExchangeRateAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Foreign Exchange Rate, Decrease In Net Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInForeignExchangeRateDecreaseInNetIncome</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Foreign Exchange Rate, Increase In Net Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInForeignExchangeRateIncreaseInNetIncome</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease In Exchange Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisDecreaseInExchangeRate</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase In Exchange Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=tef_AllCurrenciesVs.EURMember</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=tef_OtherCurrenciesVsEURMember</td>
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<td style="white-space:nowrap;">srt_CurrencyAxis=tef_LatinAmericanCurrenciesVs.EURMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489801753248">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Interest Rate Risk (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfNetDebtPlusCommitmentsUnderFixedInterestRates', window );">Percentage of net debt plus commitments pegged to fixed interest rates for a period greater than one year</a></td>
<td class="nump">88.30%<span></span>
</td>
<td class="nump">95.40%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfNetDebtAtFloatingRatesOrFixedRatesLessThanOneYear', window );">Percentage of net debt at floating rates or at fixed rates maturing in under one year</a></td>
<td class="nump">11.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net financial expenses</a></td>
<td class="num">&#8364; (1,313)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear', window );">Decrease in net financial results from prior year</a></td>
<td class="nump">&#8364; 51<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) in Finance Income (Cost) from Prior Year</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseinFinanceIncomeCostfromPriorYear</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Net Debt At Floating Rates Or Fixed Rates Greater Than One Year</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfNetDebtAtFloatingRatesOrFixedRatesLessThanOneYear</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfNetDebtPlusCommitmentsUnderFixedInterestRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Net Debt Plus Commitments Under Fixed Interest Rates</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfNetDebtPlusCommitmentsUnderFixedInterestRates</td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788386240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Sensitivity Analysis Due to Fluctuations in Interest Rates (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisChangeInInterestRateAbstract', window );"><strong>Change in interest rate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisPercentageIncreaseInInterestRate', window );">Increase in interest rate</a></td>
<td class="nump">1.00%<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisPercentageDecreaseInInterestRate', window );">Decrease in interest rate</a></td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisImpactOnNetIncomeDueToChangesInInterestRateAbstract', window );"><strong>Impact on consolidated income statement</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisDecreaseInNetIncomeDueToIncreaseInInterestRate', window );">Decrease in consolidated income</a></td>
<td class="num">&#8364; (34)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisIncreaseInNetIncomeDueToDecreaseInInterestRate', window );">Increase in consolidated income</a></td>
<td class="nump">34<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisImpactOnEquityDueToChangesInInterestRateAbstract', window );"><strong>Impact on consolidated equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisDecreaseInEquityDueToDecreaseInInterestRate', window );">Decrease in consolidated equity</a></td>
<td class="num">(61)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisIncreaseInEquityDueToIncreaseInInterestRate', window );">Increase in consolidated equity</a></td>
<td class="num">&#8364; (61)<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Change In Interest Rate [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisChangeInInterestRateAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Decrease In Equity Due To Decrease In Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisDecreaseInEquityDueToDecreaseInInterestRate</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Decrease In Net Income Due To Increase In Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisDecreaseInNetIncomeDueToIncreaseInInterestRate</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Impact On Equity Due To Changes In Interest Rate [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisImpactOnEquityDueToChangesInInterestRateAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Impact On Net Income Due To Changes In Interest Rate [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisImpactOnNetIncomeDueToChangesInInterestRateAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Increase In Equity Due To Increase In Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisIncreaseInEquityDueToIncreaseInInterestRate</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Increase In Net Income Due To Decrease In Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisIncreaseInNetIncomeDueToDecreaseInInterestRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Percentage Decrease In Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisPercentageDecreaseInInterestRate</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SensitivityAnalysisPercentageIncreaseInInterestRate">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Percentage Increase In Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisPercentageIncreaseInInterestRate</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780743200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Liquidity Risk (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AverageMaturityOfNetFinancialDebt', window );">Average maturity of net financial debt</a></td>
<td class="text">13 years 1 month 9 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PeriodtoPayAllCommitments', window );">Period to pay all commitments</a></td>
<td class="text">12 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentLiabilities', window );">Net debt held as a hedging instrument</a></td>
<td class="nump">&#8364; 26,687<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">2,020<span></span>
</td>
<td class="nump">&#8364; 1,679<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingInstrumentNonCurrentLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">11,434<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">39,079<span></span>
</td>
<td class="nump">42,295<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">&#8364; 2,020<span></span>
</td>
<td class="nump">&#8364; 1,679<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AverageMaturityOfNetFinancialDebt', window );">Average maturity of net financial debt</a></td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">&#8364; 4,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a hedging instrument, recognised as a liability. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AverageMaturityOfNetFinancialDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Average Maturity Of Net Financial Debt</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AverageMaturityOfNetFinancialDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgingInstrumentNonCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedging Instrument, Non-Current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgingInstrumentNonCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PeriodtoPayAllCommitments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period to Pay All Commitments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PeriodtoPayAllCommitments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>184
<FILENAME>R168.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788386240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Country Risk (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentLiabilities', window );">Borrowings</a></td>
<td class="nump">&#8364; 26,687<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfNetFinancialDebtHeld', window );">Proportion of net financial debt held (as a percent)</a></td>
<td class="nump">9.20%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetRepatriationOfFundsDividends', window );">Net repatriation of funds from dividends received</a></td>
<td class="nump">&#8364; 652<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaHispanoamericaMember', window );">Telefonica Hispanoamerica</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems', window );"><strong>Disclosure of financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_HedgingInstrumentLiabilities', window );">Borrowings</a></td>
<td class="nump">2,462<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetRepatriationOfFunds', window );">Net repatriation of funds to Spain</a></td>
<td class="nump">&#8364; 693<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a hedging instrument, recognised as a liability. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24A<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24A_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NetRepatriationOfFunds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net Repatriation Of Funds</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NetRepatriationOfFunds</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NetRepatriationOfFundsDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net Repatriation Of Funds, Dividends</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NetRepatriationOfFundsDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfNetFinancialDebtHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Net Financial Debt Held</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfNetFinancialDebtHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaHispanoamericaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaHispanoamericaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489793760944">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Credit Risk (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsAbstract', window );"><strong>Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts', window );">Exposure to credit risk on guarantees</a></td>
<td class="nump">&#8364; 6,657<span></span>
</td>
<td class="nump">&#8364; 6,192<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the exposure to credit risk on loan commitments and financial guarantee contracts. [Refer: Loan commitments [member]; Financial guarantee contracts [member]; Credit risk [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35H<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35M<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35I<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>186
<FILENAME>R170.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798741856">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Interest Rate Benchmark Reform And Associated Risks (Details)<br> &#8364; in Millions, $ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_USDLibor3MInterestRateMember', window );">USD Libor 3M</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NominalAmountOfHedgingInstrument', window );">Nominal amount of hedging instrument</a></td>
<td class="nump">32,947<span></span>
</td>
<td class="nump">35,140<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial assets | &#8364;</a></td>
<td class="nump">&#8364; 516<span></span>
</td>
<td class="nump">&#8364; 333<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities | &#8364;</a></td>
<td class="nump">&#8364; 920<span></span>
</td>
<td class="nump">&#8364; 661<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_USDLibor1MInterestRateMember', window );">USD Libor 1M</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NominalAmountOfHedgingInstrument', window );">Nominal amount of hedging instrument</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_USDLibor6MInterestRateMember', window );">USD Libor 6M</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NominalAmountOfHedgingInstrument', window );">Nominal amount of hedging instrument</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">140<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35H<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35M<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35N<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35I<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NominalAmountOfHedgingInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal amount of a hedging instrument. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 23B<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23B_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24A<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24A_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NominalAmountOfHedgingInstrument</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=tef_USDLibor3MInterestRateMember</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=tef_USDLibor1MInterestRateMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=tef_USDLibor6MInterestRateMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799505808">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Derivatives Policy (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>type_of_hedge</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsLineItems', window );"><strong>Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount | &#8364;</a></td>
<td class="nump">&#8364; 83,706<span></span>
</td>
<td class="nump">&#8364; 84,794<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageIncreaseDecreaseInOutstandingDerivatives', window );">Decrease in outstanding derivatives (as a percent)</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfTypesOfHedges', window );">Number of types of hedges | type_of_hedge</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember', window );">Interest rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsLineItems', window );"><strong>Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember', window );">Interest rate risk | Cash flow hedges | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsLineItems', window );"><strong>Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember', window );">Interest rate risk | Cash flow hedges | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsLineItems', window );"><strong>Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageRateOfHedgingInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average rate of a hedging instrument. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 23B<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23B_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageRateOfHedgingInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfInformationAboutTermsAndConditionsOfHedgingInstrumentsAndHowTheyAffectFutureCashFlowsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfTypesOfHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of types of hedges</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfTypesOfHedges</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageIncreaseDecreaseInOutstandingDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Increase (Decrease) In Outstanding Derivatives</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageIncreaseDecreaseInOutstandingDerivatives</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780927664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Breakdown of Financial Results (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Other financial income</a></td>
<td class="nump">&#8364; 5,139<span></span>
</td>
<td class="nump">&#8364; 5,160<span></span>
</td>
<td class="nump">&#8364; 5,682<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total</a></td>
<td class="nump">39,993<span></span>
</td>
<td class="nump">39,277<span></span>
</td>
<td class="nump">43,076<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Subtotal</a></td>
<td class="nump">1,012<span></span>
</td>
<td class="nump">1,573<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnLeaseLiabilities', window );">Financial expenses on lease liabilities (see Note 20)</a></td>
<td class="num">(365)<span></span>
</td>
<td class="num">(246)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Subtotal</a></td>
<td class="num">(3,030)<span></span>
</td>
<td class="num">(2,028)<span></span>
</td>
<td class="num">(2,417)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInFinanceIncomeDueToDecisionsWithTaxAuthorities', window );">Increase (reduction) to finance income due to decisions with tax authorities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">90<span></span>
</td>
<td class="nump">85<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeArgentinaSAMember', window );">Telefonica de Argentina, SA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialIncomeLossImpactofHyperinflationonNetMonetaryPosition', window );">Impact of hyperinflation on net monetary position on financial income</a></td>
<td class="nump">39<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );">Interest income</a></td>
<td class="nump">384<span></span>
</td>
<td class="nump">191<span></span>
</td>
<td class="nump">185<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromDividends', window );">Dividends received</a></td>
<td class="nump">25<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Other financial income</a></td>
<td class="nump">894<span></span>
</td>
<td class="nump">174<span></span>
</td>
<td class="nump">159<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total</a></td>
<td class="nump">1,303<span></span>
</td>
<td class="nump">379<span></span>
</td>
<td class="nump">356<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Changes in fair value of asset derivatives at fair value through profit or loss</a></td>
<td class="nump">377<span></span>
</td>
<td class="nump">132<span></span>
</td>
<td class="nump">255<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss', window );">Changes in fair value of liability derivatives at fair value through profit or loss</a></td>
<td class="num">(861)<span></span>
</td>
<td class="num">(24)<span></span>
</td>
<td class="num">(507)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainslossesondebtinstrumentsandotherassetsatfairvaluethroughprofitorloss', window );">Changes in the fair value of debt instruments and other assets at fair value to profit or loss</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransferFromEquityToProfitAndLossFromCashFlowHedgesNotExpectedtoHappen', window );">Transfer from equity of results of cash flow hedges - future cash flows that are no longer expected to happen</a></td>
<td class="num">(2)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHedgingInstrument', window );">(Loss)/Gain on fair value hedges</a></td>
<td class="num">(1,818)<span></span>
</td>
<td class="num">(517)<span></span>
</td>
<td class="nump">563<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges', window );">Gain/(loss) on adjustment to items hedged by fair value hedges</a></td>
<td class="nump">1,763<span></span>
</td>
<td class="nump">527<span></span>
</td>
<td class="num">(525)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Subtotal</a></td>
<td class="num">(533)<span></span>
</td>
<td class="nump">118<span></span>
</td>
<td class="num">(217)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest expenses</a></td>
<td class="num">(1,548)<span></span>
</td>
<td class="num">(1,290)<span></span>
</td>
<td class="num">(1,320)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnLeaseLiabilities', window );">Financial expenses on lease liabilities (see Note 20)</a></td>
<td class="num">(393)<span></span>
</td>
<td class="num">(274)<span></span>
</td>
<td class="num">(193)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss', window );">Ineffective portion of cash flow hedges</a></td>
<td class="num">(15)<span></span>
</td>
<td class="num">(41)<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AccretionOfProvisionsAndOtherLiabilities', window );">Accretion of provisions and other liabilities</a></td>
<td class="nump">276<span></span>
</td>
<td class="num">(169)<span></span>
</td>
<td class="num">(280)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherFinanceCost', window );">Other financial expenses</a></td>
<td class="num">(317)<span></span>
</td>
<td class="num">(137)<span></span>
</td>
<td class="num">(131)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Subtotal</a></td>
<td class="num">(1,997)<span></span>
</td>
<td class="num">(1,911)<span></span>
</td>
<td class="num">(1,879)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments', window );">Net finance costs excluding foreign exchange differences and hyperinflation adjustments</a></td>
<td class="num">(1,227)<span></span>
</td>
<td class="num">&#8364; (1,414)<span></span>
</td>
<td class="num">&#8364; (1,740)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Other financial income</a></td>
<td class="nump">526<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Other financial income</a></td>
<td class="nump">&#8364; 139<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) recognised in profit or loss on hedge ineffectiveness. [Refer: Gain (loss) on hedge ineffectiveness]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24C<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24C_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24C<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24C_b_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial liabilities at fair value through profit or loss. [Refer: Financial liabilities at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_20_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialLiabilitiesAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnHedgingInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on hedging instruments in fair value hedges. [Refer: Fair value hedges [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_24_a_i&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnHedgingInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinanceCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of finance costs that the entity does not separately disclose in the same statement or note. [Refer: Finance costs]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinanceCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as income. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AccretionOfProvisionsAndOtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accretion Of Provisions And Other Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AccretionOfProvisionsAndOtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Finance Income (Cost), Excluding Foreign Exchange Differences And Hyperinflationary Adjustments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinanceIncomeCostExcludingForeignExchangeDifferencesAndHyperinflationaryAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinancialIncomeLossImpactofHyperinflationonNetMonetaryPosition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Income (Loss) Impact of Hyperinflation on Net Monetary Position</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancialIncomeLossImpactofHyperinflationonNetMonetaryPosition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gains (Losses) On Adjustments To Items Hedged By Fair Value Hedges</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_GainsLossesOnAdjustmentsToItemsHedgedByFairValueHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Gainslossesondebtinstrumentsandotherassetsatfairvaluethroughprofitorloss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gains (losses) on debt instruments and other assets at fair value through profit or loss</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Gainslossesondebtinstrumentsandotherassetsatfairvaluethroughprofitorloss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInFinanceIncomeDueToDecisionsWithTaxAuthorities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Finance Income Due To Decisions With Tax Authorities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInFinanceIncomeDueToDecisionsWithTaxAuthorities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TransferFromEquityToProfitAndLossFromCashFlowHedgesNotExpectedtoHappen">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfer From Equity To Profit And Loss From Cash Flow Hedges - Not Expected to Happen</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TransferFromEquityToProfitAndLossFromCashFlowHedgesNotExpectedtoHappen</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeArgentinaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807733968">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Evolution of Derivative Instruments (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetsLiabilitiesNetRollForward', window );"><strong>Derivative Assets/ Liabilities, Net [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gain (loss) on derivative</a></td>
<td class="nump">&#8364; 1,012<span></span>
</td>
<td class="nump">&#8364; 1,573<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetsLiabilitiesNetRollForward', window );"><strong>Derivative Assets/ Liabilities, Net [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives', window );">Gain (loss) on derivative</a></td>
<td class="nump">638<span></span>
</td>
<td class="nump">188<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetsLiabilitiesNetRollForward', window );"><strong>Derivative Assets/ Liabilities, Net [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Opening balance of assets/(liabilities)</a></td>
<td class="nump">1,573<span></span>
</td>
<td class="nump">13<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingPaymentsofFinancialInstruments', window );">Financing payments</a></td>
<td class="nump">715<span></span>
</td>
<td class="nump">34<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingProceedsofFinancialInstruments', window );">Financing proceeds</a></td>
<td class="num">(89)<span></span>
</td>
<td class="nump">89<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InterestProceedsPaymentsofFinancialInstruments', window );">Interest (proceeds)/payments</a></td>
<td class="nump">283<span></span>
</td>
<td class="num">(91)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherProceedsPaymentsofFinancialInstruments', window );">Other (proceeds)/payments</a></td>
<td class="num">(17)<span></span>
</td>
<td class="num">(31)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FairValueAdjustmentsThroughOtherComprehensiveIncomeofFinancialInstruments', window );">Fair value adjustments through other comprehensive income</a></td>
<td class="nump">1,031<span></span>
</td>
<td class="nump">1,733<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughmovementswithcounterpartyfinancialinstruments', window );">Movements with counterparty in the income statement</a></td>
<td class="num">(2,649)<span></span>
</td>
<td class="num">(538)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughtranslationdifferencesfinancialinstruments', window );">Translation differences</a></td>
<td class="nump">169<span></span>
</td>
<td class="nump">393<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughothermovementsfinancialinstruments', window );">Other movements</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(29)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Closing balance of assets/(liabilities)</a></td>
<td class="nump">1,012<span></span>
</td>
<td class="nump">1,573<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInFinancialAssets', window );">Increase in financial assets</a></td>
<td class="nump">&#8364; 561<span></span>
</td>
<td class="num">&#8364; (1,560)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) resulting from change in the fair value of derivatives recognised in profit or loss. [Refer: Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35H<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35I<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DerivativeAssetLiabilityNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Derivative Asset (Liability), Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DerivativeAssetLiabilityNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DerivativeAssetsLiabilitiesNetRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Derivative Assets/ Liabilities, Net [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DerivativeAssetsLiabilitiesNetRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FairValueAdjustmentsThroughOtherComprehensiveIncomeofFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair Value Adjustments Through Other Comprehensive Income of Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FairValueAdjustmentsThroughOtherComprehensiveIncomeofFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinancingPaymentsofFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Payments of Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancingPaymentsofFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinancingProceedsofFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Proceeds of Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancingProceedsofFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Increasedecreasethroughmovementswithcounterpartyfinancialinstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through movements with counterparty, financial instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Increasedecreasethroughmovementswithcounterpartyfinancialinstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Increasedecreasethroughothermovementsfinancialinstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through other movements, financial instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Increasedecreasethroughothermovementsfinancialinstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Increasedecreasethroughtranslationdifferencesfinancialinstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through translation differences, financial instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Increasedecreasethroughtranslationdifferencesfinancialinstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InterestProceedsPaymentsofFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest (Proceeds) / Payments of Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InterestProceedsPaymentsofFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherProceedsPaymentsofFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other (Proceeds) / Payments of Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherProceedsPaymentsofFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CurrencySwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CurrencySwapContractMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489777809504">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Breakdown of Derivatives and Expected Maturity Schedule (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">&#8364; 83,706<span></span>
</td>
<td class="nump">&#8364; 84,794<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember', window );">Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(89)<span></span>
</td>
<td class="num">(1,003)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(2,668)<span></span>
</td>
<td class="num">(2,772)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(712)<span></span>
</td>
<td class="num">(995)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">2,023<span></span>
</td>
<td class="nump">1,835<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">345<span></span>
</td>
<td class="nump">359<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(1,012)<span></span>
</td>
<td class="num">(1,573)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember', window );">Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(3,998)<span></span>
</td>
<td class="num">(6,274)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember', window );">Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(363)<span></span>
</td>
<td class="num">(2,091)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember', window );">Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(602)<span></span>
</td>
<td class="num">(205)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember', window );">Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">4,874<span></span>
</td>
<td class="nump">7,567<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember', window );">No derivatives instruments of accounting hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">132<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember', window );">No derivatives instruments of accounting hedges | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember', window );">No derivatives instruments of accounting hedges | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember', window );">No derivatives instruments of accounting hedges | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember', window );">No derivatives instruments of accounting hedges | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | No derivatives instruments of accounting hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">132<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | No derivatives instruments of accounting hedges | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | No derivatives instruments of accounting hedges | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | No derivatives instruments of accounting hedges | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | No derivatives instruments of accounting hedges | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Fair value hedges | No derivatives instruments of accounting hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Fair value hedges | No derivatives instruments of accounting hedges | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Fair value hedges | No derivatives instruments of accounting hedges | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Fair value hedges | No derivatives instruments of accounting hedges | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Fair value hedges | No derivatives instruments of accounting hedges | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Net investment hedges | No derivatives instruments of accounting hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">132<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Net investment hedges | No derivatives instruments of accounting hedges | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Net investment hedges | No derivatives instruments of accounting hedges | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Net investment hedges | No derivatives instruments of accounting hedges | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Net investment hedges | No derivatives instruments of accounting hedges | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">5,242<span></span>
</td>
<td class="nump">2,979<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(2,404)<span></span>
</td>
<td class="num">(2,301)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(466)<span></span>
</td>
<td class="num">(908)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">1,317<span></span>
</td>
<td class="nump">1,438<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">78<span></span>
</td>
<td class="nump">232<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(1,475)<span></span>
</td>
<td class="num">(1,539)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(2,034)<span></span>
</td>
<td class="num">(5,020)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">116<span></span>
</td>
<td class="num">(904)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(77)<span></span>
</td>
<td class="nump">98<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">7,237<span></span>
</td>
<td class="nump">8,805<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(6,506)<span></span>
</td>
<td class="num">(3,599)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(211)<span></span>
</td>
<td class="num">(914)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(187)<span></span>
</td>
<td class="num">(480)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">446<span></span>
</td>
<td class="nump">22<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">57<span></span>
</td>
<td class="num">(1,368)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(795)<span></span>
</td>
<td class="nump">63<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">2<span></span>
</td>
<td class="num">(801)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(123)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(5,590)<span></span>
</td>
<td class="num">(2,860)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">1,117<span></span>
</td>
<td class="nump">1,124<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(26)<span></span>
</td>
<td class="num">(24)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(11)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(13)<span></span>
</td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">1,114<span></span>
</td>
<td class="nump">1,060<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(7,623)<span></span>
</td>
<td class="num">(4,723)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(185)<span></span>
</td>
<td class="num">(890)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(183)<span></span>
</td>
<td class="num">(469)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">438<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">70<span></span>
</td>
<td class="num">(1,348)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(798)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">2<span></span>
</td>
<td class="num">(801)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(123)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(6,704)<span></span>
</td>
<td class="num">(3,920)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">7,978<span></span>
</td>
<td class="nump">3,848<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(1,742)<span></span>
</td>
<td class="num">(1,245)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(213)<span></span>
</td>
<td class="num">(131)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">711<span></span>
</td>
<td class="nump">1,124<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">68<span></span>
</td>
<td class="nump">228<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(1,176)<span></span>
</td>
<td class="num">(24)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(1,340)<span></span>
</td>
<td class="num">(5,021)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">34<span></span>
</td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">9,284<span></span>
</td>
<td class="nump">8,824<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">9,602<span></span>
</td>
<td class="nump">9,193<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(1,742)<span></span>
</td>
<td class="num">(1,245)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(57)<span></span>
</td>
<td class="num">(102)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">704<span></span>
</td>
<td class="nump">1,124<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">30<span></span>
</td>
<td class="nump">95<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(1,065)<span></span>
</td>
<td class="num">(128)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">744<span></span>
</td>
<td class="nump">318<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">34<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">8,824<span></span>
</td>
<td class="nump">8,824<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">1,297<span></span>
</td>
<td class="nump">203<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(87)<span></span>
</td>
<td class="num">(28)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">28<span></span>
</td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(52)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">837<span></span>
</td>
<td class="nump">209<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">460<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Net investment hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(2,921)<span></span>
</td>
<td class="num">(5,548)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(69)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">115<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(59)<span></span>
</td>
<td class="nump">114<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Net investment hedges | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(2,921)<span></span>
</td>
<td class="num">(5,548)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Net investment hedges | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Net investment hedges | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Exchange rate risk | Net investment hedges | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">3,770<span></span>
</td>
<td class="nump">2,730<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(451)<span></span>
</td>
<td class="num">(142)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(66)<span></span>
</td>
<td class="num">(297)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">160<span></span>
</td>
<td class="nump">292<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(356)<span></span>
</td>
<td class="num">(147)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">101<span></span>
</td>
<td class="num">(62)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">80<span></span>
</td>
<td class="num">(129)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">46<span></span>
</td>
<td class="nump">80<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">3,543<span></span>
</td>
<td class="nump">2,841<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">3,461<span></span>
</td>
<td class="nump">3,228<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(445)<span></span>
</td>
<td class="num">(97)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(66)<span></span>
</td>
<td class="num">(104)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">292<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(436)<span></span>
</td>
<td class="nump">91<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">101<span></span>
</td>
<td class="nump">189<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">80<span></span>
</td>
<td class="nump">118<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">46<span></span>
</td>
<td class="nump">80<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Cash flow hedges | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">3,234<span></span>
</td>
<td class="nump">2,841<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">309<span></span>
</td>
<td class="num">(498)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(6)<span></span>
</td>
<td class="num">(45)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(193)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">86<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">80<span></span>
</td>
<td class="num">(238)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(251)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(247)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as hedging instrument | Interest rate and exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">309<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(5,331)<span></span>
</td>
<td class="num">(3,982)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(264)<span></span>
</td>
<td class="num">(471)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(246)<span></span>
</td>
<td class="num">(87)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">706<span></span>
</td>
<td class="nump">397<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">267<span></span>
</td>
<td class="nump">127<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">463<span></span>
</td>
<td class="num">(34)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(1,964)<span></span>
</td>
<td class="num">(1,254)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(479)<span></span>
</td>
<td class="num">(1,187)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(525)<span></span>
</td>
<td class="num">(303)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(2,363)<span></span>
</td>
<td class="num">(1,238)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(5,115)<span></span>
</td>
<td class="num">(3,787)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="num">(264)<span></span>
</td>
<td class="num">(244)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(59)<span></span>
</td>
<td class="num">(55)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">631<span></span>
</td>
<td class="nump">170<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">324<span></span>
</td>
<td class="num">(121)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(1,539)<span></span>
</td>
<td class="num">(963)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(688)<span></span>
</td>
<td class="num">(1,283)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(525)<span></span>
</td>
<td class="num">(303)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Interest rate risk | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(2,363)<span></span>
</td>
<td class="num">(1,238)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(1,132)<span></span>
</td>
<td class="num">(1,110)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(214)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(179)<span></span>
</td>
<td class="num">(23)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">142<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">145<span></span>
</td>
<td class="nump">101<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="num">(34)<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="num">(1,132)<span></span>
</td>
<td class="num">(740)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(370)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Exchange rate risk | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Other derivatives | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">916<span></span>
</td>
<td class="nump">915<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Non-current derivative financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(13)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Current derivative financial assets</a></td>
<td class="num">(8)<span></span>
</td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">75<span></span>
</td>
<td class="nump">85<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Current derivative financial liabilities</a></td>
<td class="nump">106<span></span>
</td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DerivativeAssetLiabilityNet', window );">Derivative asset (liability), net</a></td>
<td class="nump">173<span></span>
</td>
<td class="nump">81<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Other derivatives | Derivative Instruments, Including Netting Adjustments | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">707<span></span>
</td>
<td class="nump">449<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Other derivatives | Derivative Instruments, Including Netting Adjustments | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">209<span></span>
</td>
<td class="nump">466<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Other derivatives | Derivative Instruments, Including Netting Adjustments | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member', window );">Not Designated as Hedging Instrument | Other derivatives | Derivative Instruments, Including Netting Adjustments | Later</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_LoansandOtherDebtsMember', window );">Loans and Other Debts | No derivatives instruments of accounting hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Non-current derivative financial liabilities</a></td>
<td class="nump">&#8364; 141<span></span>
</td>
<td class="nump">&#8364; 132<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DerivativeAssetLiabilityNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Derivative Asset (Liability), Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DerivativeAssetLiabilityNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgingDesignation1Axis=tef_NotDesignatedasHedgingInstrument1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=tef_OtherRisksMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=tef_OtherRisksMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_LoansandOtherDebtsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_LoansandOtherDebtsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>191
<FILENAME>R175.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489786612192">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Details about Hedged Items by Fair Value Hedges (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">&#8364; 109,642<span></span>
</td>
<td class="nump">&#8364; 109,213<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">8,101<span></span>
</td>
<td class="nump">7,347<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">9,134<span></span>
</td>
<td class="nump">8,287<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">35,059<span></span>
</td>
<td class="nump">35,290<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">6,657<span></span>
</td>
<td class="nump">6,391<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">3,546<span></span>
</td>
<td class="nump">3,089<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">4,020<span></span>
</td>
<td class="nump">7,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">13,509<span></span>
</td>
<td class="nump">13,210<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">265<span></span>
</td>
<td class="nump">226<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">104<span></span>
</td>
<td class="nump">101<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">152<span></span>
</td>
<td class="nump">106<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">11,039<span></span>
</td>
<td class="nump">9,998<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">9,657<span></span>
</td>
<td class="nump">8,464<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">60<span></span>
</td>
<td class="nump">55<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">563<span></span>
</td>
<td class="nump">624<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">759<span></span>
</td>
<td class="nump">824<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Fair value hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">30<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="num">(59)<span></span>
</td>
<td class="nump">1,689<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="num">(74)<span></span>
</td>
<td class="nump">1,504<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">52<span></span>
</td>
<td class="nump">210<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="num">(35)<span></span>
</td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Interest rate risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">8,125<span></span>
</td>
<td class="nump">6,101<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">7,735<span></span>
</td>
<td class="nump">5,987<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">387<span></span>
</td>
<td class="nump">83<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Interest rate risk | Fair value hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Interest rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="num">(88)<span></span>
</td>
<td class="nump">1,322<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="num">(89)<span></span>
</td>
<td class="nump">1,309<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Exchange rate risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">250<span></span>
</td>
<td class="nump">226<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">96<span></span>
</td>
<td class="nump">101<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">152<span></span>
</td>
<td class="nump">106<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">1,295<span></span>
</td>
<td class="nump">1,437<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">468<span></span>
</td>
<td class="nump">558<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">60<span></span>
</td>
<td class="nump">55<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">11<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">756<span></span>
</td>
<td class="nump">824<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Exchange rate risk | Fair value hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">22<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="num">(38)<span></span>
</td>
<td class="num">(23)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="num">(36)<span></span>
</td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Interest rate and exchange rate risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">1,619<span></span>
</td>
<td class="nump">2,460<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">1,454<span></span>
</td>
<td class="nump">1,919<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">165<span></span>
</td>
<td class="nump">541<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Interest rate and exchange rate risk | Fair value hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member', window );">Designated as Hedging Instrument | Interest rate and exchange rate risk | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">67<span></span>
</td>
<td class="nump">390<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">195<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">52<span></span>
</td>
<td class="nump">195<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_HedgedItemsAxis=tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember', window );">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses | Designated as Hedging Instrument | Fair value hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total allocated assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentReceivablesAndOtherCurrentAssets', window );">Receivables and other current assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherHeadingOfAssets', window );">Other heading of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_HedgedItemsAxis=tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember', window );">Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses | Designated as Hedging Instrument | Fair value hedges | Derivative Instruments, Including Netting Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems', window );"><strong>Disclosure of detailed information about hedged items [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total allocated liabilities</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">63<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">36<span></span>
</td>
<td class="nump">52<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Payables and other current liabilities</a></td>
<td class="num">&#8364; (16)<span></span>
</td>
<td class="num">&#8364; (5)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present economic resource controlled by the entity as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutHedgedItemsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentPayablesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Payables And Other Current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentPayablesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentReceivablesAndOtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Receivables And Other Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentReceivablesAndOtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Financial Assets And Other Non-Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Noncurrent Payables And Other Non-current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NoncurrentPayablesAndOtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherHeadingOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Heading Of Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherHeadingOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgingDesignation1Axis=tef_DesignatedasHedgingInstrument1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_FairValueHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_DerivativeInstrumentsIncludingNettingAdjustmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgedItemsAxis=tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgedItemsAxis=tef_HedgedItemsthathaveCeasedtobeAdjustedforGainsandLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>192
<FILENAME>R176.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489806692064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Evolution of Hedges in Equity (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="nump">&#8364; 437<span></span>
</td>
<td class="nump">&#8364; 646<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="nump">820<span></span>
</td>
<td class="nump">1,198<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="num">(6)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="num">(530)<span></span>
</td>
<td class="num">(1,406)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="nump">725<span></span>
</td>
<td class="nump">437<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Net investment hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="nump">705<span></span>
</td>
<td class="nump">2,061<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="num">(743)<span></span>
</td>
<td class="num">(353)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="nump">10<span></span>
</td>
<td class="num">(962)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="num">(6)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="nump">4<span></span>
</td>
<td class="num">(41)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="num">(30)<span></span>
</td>
<td class="nump">705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityContinuingHedges', window );">Amounts remaining in equity for continuing hedges</a></td>
<td class="num">(30)<span></span>
</td>
<td class="nump">705<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityHedgingNoLongerNeeded', window );">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Interest rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="num">(70)<span></span>
</td>
<td class="num">(154)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">34<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">48<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="num">(37)<span></span>
</td>
<td class="num">(70)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityContinuingHedges', window );">Amounts remaining in equity for continuing hedges</a></td>
<td class="nump">10<span></span>
</td>
<td class="num">(7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityHedgingNoLongerNeeded', window );">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</a></td>
<td class="num">(47)<span></span>
</td>
<td class="num">(63)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Exchange rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="nump">247<span></span>
</td>
<td class="num">(443)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="nump">1,235<span></span>
</td>
<td class="nump">1,473<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="num">(620)<span></span>
</td>
<td class="num">(782)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="nump">861<span></span>
</td>
<td class="nump">247<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityContinuingHedges', window );">Amounts remaining in equity for continuing hedges</a></td>
<td class="nump">826<span></span>
</td>
<td class="nump">211<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityHedgingNoLongerNeeded', window );">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</a></td>
<td class="nump">35<span></span>
</td>
<td class="nump">36<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Interest rate and exchange rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="num">(270)<span></span>
</td>
<td class="num">(523)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="nump">612<span></span>
</td>
<td class="nump">445<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="num">(7)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="num">(127)<span></span>
</td>
<td class="num">(188)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="nump">2<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="nump">210<span></span>
</td>
<td class="num">(270)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityContinuingHedges', window );">Amounts remaining in equity for continuing hedges</a></td>
<td class="nump">290<span></span>
</td>
<td class="num">(184)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityHedgingNoLongerNeeded', window );">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</a></td>
<td class="num">(80)<span></span>
</td>
<td class="num">(86)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember', window );">No derivative instruments | Net investment hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="num">(5)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityContinuingHedges', window );">Amounts remaining in equity for continuing hedges</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityHedgingNoLongerNeeded', window );">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedginginEquityAxis=tef_GrossAmountMember', window );">Total gross amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="nump">607<span></span>
</td>
<td class="nump">941<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="nump">1,104<span></span>
</td>
<td class="nump">1,594<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="num">(8)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="num">(711)<span></span>
</td>
<td class="num">(1,884)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="nump">4<span></span>
</td>
<td class="num">(41)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="nump">995<span></span>
</td>
<td class="nump">607<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityContinuingHedges', window );">Amounts remaining in equity for continuing hedges</a></td>
<td class="nump">1,087<span></span>
</td>
<td class="nump">720<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityHedgingNoLongerNeeded', window );">Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied</a></td>
<td class="num">(92)<span></span>
</td>
<td class="num">(113)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedginginEquityAxis=tef_TaxEffectMember', window );">Tax effect</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at beginning of period</a></td>
<td class="num">(170)<span></span>
</td>
<td class="num">(295)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreaseinFairValue', window );">Changes in the fair value registered in equity</a></td>
<td class="num">(284)<span></span>
</td>
<td class="num">(396)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue', window );">Transfer to the initial value of hedged item</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected', window );">Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="nump">181<span></span>
</td>
<td class="nump">478<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences', window );">Total translation differences</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements', window );">Other movements</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">41<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquity', window );">Balance of hedges in equity at end of period</a></td>
<td class="num">(270)<span></span>
</td>
<td class="num">(170)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeStatementLocationAxis=tef_InterestExpenseMember', window );">Interest Expense | Derivative instruments | Interest rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="nump">181<span></span>
</td>
<td class="nump">72<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeStatementLocationAxis=tef_InterestExpenseMember', window );">Interest Expense | Derivative instruments | Exchange rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinHedgesinEquityRollForward', window );"><strong>Changes in Hedges in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="nump">&#8364; 536<span></span>
</td>
<td class="nump">&#8364; 873<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ChangesinHedgesinEquityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Changes in Hedges in Equity [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ChangesinHedgesinEquityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityContinuingHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Continuing Hedges</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityContinuingHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityHedgingNoLongerNeeded">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Hedging No Longer Needed</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityHedgingNoLongerNeeded</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityIncreaseDecreasefromOtherMovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Increase (Decrease) from Other Movements</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityIncreaseDecreasefromOtherMovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Increase (Decrease) from Transfer to Income Statement, Affected Profit or Loss</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementAffectedProfitorLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Increase (Decrease) from Transfer to Income Statement, No Longer Expected</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityIncreaseDecreasefromTransfertoIncomeStatementNoLongerExpected</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Increase (Decrease) from Transfer to Initial Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityIncreaseDecreasefromTransfertoInitialValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Increase (Decrease) from Translation Differences</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityIncreaseDecreasefromTranslationDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedgesinEquityIncreaseDecreaseinFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Hedges in Equity, Increase (Decrease) in Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedgesinEquityIncreaseDecreaseinFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_HedgesOfNetInvestmentInForeignOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=ifrs-full_CashFlowHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=tef_FinancialInstrumentsExcludingDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedginginEquityAxis=tef_GrossAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedginginEquityAxis=tef_GrossAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HedginginEquityAxis=tef_TaxEffectMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HedginginEquityAxis=tef_TaxEffectMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeStatementLocationAxis=tef_InterestExpenseMember</td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>193
<FILENAME>R177.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787219680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Evolution of Cost of Hedges in Equity (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinCostofHedginginEquityRollForward', window );"><strong>Changes in Cost of Hedging in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at beginning of period</a></td>
<td class="nump">&#8364; 32<span></span>
</td>
<td class="num">&#8364; (56)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinFairValueofCostofHedginginEquity', window );">Changes in the fair value registered in equity</a></td>
<td class="num">(44)<span></span>
</td>
<td class="nump">96<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="num">(7)<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at end of period</a></td>
<td class="num">(19)<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinCostofHedginginEquityRollForward', window );"><strong>Changes in Cost of Hedging in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at beginning of period</a></td>
<td class="nump">43<span></span>
</td>
<td class="num">(75)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinFairValueofCostofHedginginEquity', window );">Changes in the fair value registered in equity</a></td>
<td class="num">(59)<span></span>
</td>
<td class="nump">128<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at end of period</a></td>
<td class="num">(25)<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedginginEquityAxis=tef_GrossAmountMember', window );">Total gross amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinCostofHedginginEquityRollForward', window );"><strong>Changes in Cost of Hedging in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at beginning of period</a></td>
<td class="nump">43<span></span>
</td>
<td class="num">(75)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinFairValueofCostofHedginginEquity', window );">Changes in the fair value registered in equity</a></td>
<td class="num">(59)<span></span>
</td>
<td class="nump">128<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at end of period</a></td>
<td class="num">(25)<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HedginginEquityAxis=tef_TaxEffectMember', window );">Tax effect</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ChangesinCostofHedginginEquityRollForward', window );"><strong>Changes in Cost of Hedging in Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at beginning of period</a></td>
<td class="num">(11)<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinFairValueofCostofHedginginEquity', window );">Changes in the fair value registered in equity</a></td>
<td class="nump">15<span></span>
</td>
<td class="num">(32)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseinCostofHedginginEquityfromTransferstoIncomeStatement', window );">Transfer to the income statement of the period - the hedged item has affected profit or loss</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Costofhedginginequity', window );">Balance of cost of hedging in equity at end of period</a></td>
<td class="nump">&#8364; 6<span></span>
</td>
<td class="num">&#8364; (11)<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Changes in Cost of Hedging in Equity [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cost of hedging in equity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) in Cost of Hedging in Equity from Transfers to Income Statement</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) in Fair Value of Cost of Hedging in Equity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>194
<FILENAME>R178.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784480080">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments and Risk Management Policies - Ineffective Portion of Accounting Hedges (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="num">&#8364; (803)<span></span>
</td>
<td class="nump">&#8364; 1,230<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="num">(771)<span></span>
</td>
<td class="nump">1,269<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="num">(32)<span></span>
</td>
<td class="num">(39)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember', window );">Interest rate risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="num">(1,257)<span></span>
</td>
<td class="num">(142)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="num">(1,238)<span></span>
</td>
<td class="num">(143)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="num">(19)<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember', window );">Interest rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="nump">35<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="nump">35<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember', window );">Interest rate risk | Fair value hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="num">(1,292)<span></span>
</td>
<td class="num">(150)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="num">(1,273)<span></span>
</td>
<td class="num">(150)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="num">(19)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="num">(8)<span></span>
</td>
<td class="nump">960<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="num">(8)<span></span>
</td>
<td class="nump">994<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(34)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="nump">1,108<span></span>
</td>
<td class="nump">1,510<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="nump">1,108<span></span>
</td>
<td class="nump">1,544<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(34)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_CurrencyRiskMember', window );">Exchange rate risk | Net investment hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="num">(1,116)<span></span>
</td>
<td class="num">(550)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="num">(1,116)<span></span>
</td>
<td class="num">(550)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember', window );">Interest rate and exchange rate risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="nump">462<span></span>
</td>
<td class="nump">412<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="nump">475<span></span>
</td>
<td class="nump">418<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="num">(13)<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=tef_InterestRateAndCurrencyRiskMember', window );">Interest rate and exchange rate risk | Cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfHedgeAccountingLineItems', window );"><strong>Disclosure of detailed information about hedges [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrument', window );">Changes in fair value of the hedging instrument</a></td>
<td class="nump">462<span></span>
</td>
<td class="nump">412<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion', window );">Changes in the fair value of hedges item for the hedged risk</a></td>
<td class="nump">475<span></span>
</td>
<td class="nump">418<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness', window );">Ineffective portion hedged registered in the income statement</a></td>
<td class="num">&#8364; (13)<span></span>
</td>
<td class="num">&#8364; (6)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfHedgeAccountingLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfHedgeAccountingLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) on the change in fair value of the hedging instrument used as a basis for recognising hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 24A<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24A_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnChangeInFairValueOfHedgingInstrumentUsedAsBasisForRecognisingHedgeIneffectiveness</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Gainlossonchangeinfairvalueofhedginginstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) on change in fair value of hedging instrument</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Gainlossonchangeinfairvalueofhedginginstrument</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) on change in fair value of hedging instrument, effective portion</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">tef_Gainlossonchangeinfairvalueofhedginginstrumenteffectiveportion</td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799895936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Lease Liabilities - Movement of Lease Liabilities (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MovementofLeaseLiabilitiesRollForward', window );"><strong>Movement of Lease Liabilities [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Balance at beginning of period</a></td>
<td class="nump">&#8364; 8,070<span></span>
</td>
<td class="nump">&#8364; 5,294<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionstoLeaseLiabilities', window );">Additions</a></td>
<td class="nump">2,487<span></span>
</td>
<td class="nump">2,030<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions', window );">Sale of the towers division of Telxius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,650<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PrincipalandInterestPaymentsofLeaseLiabilities', window );">Principal and Interest Payments of Lease Liabilities</a></td>
<td class="num">(2,361)<span></span>
</td>
<td class="num">(1,859)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PrincipalPaymentsonLeases', window );">Principal payments (Note 28)</a></td>
<td class="num">(1,996)<span></span>
</td>
<td class="num">(1,782)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnLeaseLiabilities', window );">Interests payments (Note 28)</a></td>
<td class="num">(365)<span></span>
</td>
<td class="num">(246)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsofCompaniesHeldforSaleandSoldCompaniesduringPeriodofLeaseLiabilities', window );">Minus: Payments of companies held for sale and sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">169<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalsofLeaseLiabilities', window );">Disposals</a></td>
<td class="num">(59)<span></span>
</td>
<td class="num">(288)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegistrationOfCompaniesLeaseLiabilities', window );">Business combinations</a></td>
<td class="nump">124<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AccruedInterestsofLeaseLiabilities', window );">Accrued interests</a></td>
<td class="nump">393<span></span>
</td>
<td class="nump">259<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TranslationDifferencesofLeaseLiabilities', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">246<span></span>
</td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransfersandOthersofLeaseLiabilities', window );">Transfers and others</a></td>
<td class="num">(223)<span></span>
</td>
<td class="num">(59)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Balance at end of period</a></td>
<td class="nump">&#8364; 8,677<span></span>
</td>
<td class="nump">8,070<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AccruedInterestsOfLeaseLiabilitiesIncludingHeldForSale', window );">Accrued interests of lease liabilities including held-for-sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 274<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnLeaseLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AccruedInterestsOfLeaseLiabilitiesIncludingHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accrued interests of lease liabilities including held-for-sale</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AccruedInterestsOfLeaseLiabilitiesIncludingHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AccruedInterestsofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accrued Interests of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AccruedInterestsofLeaseLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Addition Of Lease Liabilities, Sale Of Divisions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionOfLeaseLiabilitiesSaleOfDivisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdditionstoLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions to Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionstoLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalsofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposals of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalsofLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_MovementofLeaseLiabilitiesRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Movement of Lease Liabilities [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_MovementofLeaseLiabilitiesRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentsofCompaniesHeldforSaleandSoldCompaniesduringPeriodofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments of Companies Held-for-Sale and Sold Companies during Period of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsofCompaniesHeldforSaleandSoldCompaniesduringPeriodofLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PrincipalPaymentsonLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Principal Payments on Leases</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PrincipalPaymentsonLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PrincipalandInterestPaymentsofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Principal and Interest Payments of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PrincipalandInterestPaymentsofLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegistrationOfCompaniesLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Registration Of Companies, Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegistrationOfCompaniesLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TransfersandOthersofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfers and Others of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TransfersandOthersofLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TranslationDifferencesofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Translation Differences of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TranslationDifferencesofLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807652672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Lease Liabilities - Narrative (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionstoLeaseLiabilitiesrelatedtoFixedAssetSaleandLeasebackTransaction', window );">Additions related to fixed asset sale and leaseback transactions</a></td>
<td class="nump">&#8364; 125<span></span>
</td>
<td class="nump">&#8364; 51<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions', window );">Capital gains arising from sale and leaseback transactions</a></td>
<td class="nump">381<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="nump">&#8364; 79<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionstoLeaseLiabilities', window );">Additions</a></td>
<td class="nump">2,487<span></span>
</td>
<td class="nump">2,030<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted', window );">Lease liabilities not yet commenced</a></td>
<td class="nump">1,569<span></span>
</td>
<td class="nump">1,307<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liabilities</a></td>
<td class="nump">8,677<span></span>
</td>
<td class="nump">8,070<span></span>
</td>
<td class="nump">&#8364; 5,294<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransfersandOthersofLeaseLiabilities', window );">Transfers and others</a></td>
<td class="nump">223<span></span>
</td>
<td class="nump">59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions', window );">Sale of the towers division of Telxius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelxiusGroupMember', window );">Telxius Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LeaseLiabilities', window );">Lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,775<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionOfLeaseLiabilitiesSaleOfDivisions', window );">Sale of the towers division of Telxius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OiGroupMember', window );">Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionstoLeaseLiabilities', window );">Additions</a></td>
<td class="nump">117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_IncrementalGroupMember', window );">Incremental Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionstoLeaseLiabilities', window );">Additions</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaMember', window );">BE-terna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionstoLeaseLiabilities', window );">Additions</a></td>
<td class="nump">&#8364; 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_CancomLtdMember', window );">Cancom Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionstoLeaseLiabilities', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PegasoPCSSADeCVMember', window );">Pegaso PCS S.A. de CV</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransfersandOthersofLeaseLiabilities', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">264<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorS.A.deC.V.Member', window );">Telef&#243;nica El Salvador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TransfersandOthersofLeaseLiabilities', window );">Transfers and others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 43<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) arising from sale and leaseback transactions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseLiabilities</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Addition Of Lease Liabilities, Sale Of Divisions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionOfLeaseLiabilitiesSaleOfDivisions</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdditionstoLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions to Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionstoLeaseLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdditionstoLeaseLiabilitiesrelatedtoFixedAssetSaleandLeasebackTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions to Lease Liabilities related to Fixed Asset Sale and Leaseback Transaction</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdditionstoLeaseLiabilitiesrelatedtoFixedAssetSaleandLeasebackTransaction</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Disclosure of finance lease and operating lease by lessee [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Exposure Arising From Leases Not Yet Commenced To Which Lessee Is Committed</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TransfersandOthersofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Transfers and Others of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TransfersandOthersofLeaseLiabilities</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799702528">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Lease Liabilities - Maturity Schedule of Lease Liabilities (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">&#8364; 9,308<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">2,107<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">1,700<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">1,413<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">1,064<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">851<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">2,173<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember', window );">Non-current total</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems', window );"><strong>Disclosure of maturity analysis of operating lease payments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived', window );">Lease liabilities</a></td>
<td class="nump">&#8364; 7,201<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of undiscounted operating lease payments to be received. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 97<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_97&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791300768">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Payables and Other Non-current Liabilities - Composition of Trade and Other Payables (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rou">
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<td class="nump">&#8364; 1,914<span></span>
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<td class="nump">&#8364; 1,733<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="nump">463<span></span>
</td>
<td class="nump">236<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">1,293<span></span>
</td>
<td class="nump">1,361<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentPayables', window );">Other payables</a></td>
<td class="nump">158<span></span>
</td>
<td class="nump">136<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentLiabilities', window );">Other non-current liabilities</a></td>
<td class="nump">1,632<span></span>
</td>
<td class="nump">1,356<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentContractLiabilities', window );">Contractual liabilities (Note 23)</a></td>
<td class="nump">891<span></span>
</td>
<td class="nump">829<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities', window );">Deferred revenue</a></td>
<td class="nump">199<span></span>
</td>
<td class="nump">217<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentTaxPayables', window );">Current tax payables</a></td>
<td class="nump">542<span></span>
</td>
<td class="nump">310<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Total</a></td>
<td class="nump">&#8364; 3,546<span></span>
</td>
<td class="nump">&#8364; 3,089<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current contract liabilities. [Refer: Contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current deferred income other than non-current contract liabilities. [Refer: Deferred income other than contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDeferredIncomeOtherThanNoncurrentContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade payables and non-current other payables. [Refer: Other non-current payables; Non-current trade payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current amount of payment due to suppliers for goods and services used in the entity's business. [Refer: Trade payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current payables that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentPayables</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentTaxPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Tax Payables</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentTaxPayables</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Noncurrent Payables And Other Non-current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NoncurrentPayablesAndOtherNoncurrentLiabilities</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489800158400">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Payables and Other Non-current Liabilities - Non-Current Debt For Spectrum Acquisistion (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">&#8364; 1,293<span></span>
</td>
<td class="nump">&#8364; 1,361<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">79<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember', window );">Colombia Telecomunicaciones, S.A., ESP</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">85<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">243<span></span>
</td>
<td class="nump">292<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">&#8364; 891<span></span>
</td>
<td class="nump">&#8364; 990<span></span>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Trade And Other Payables [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489806887312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Non-current Liabilities - Narrative (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,546<span></span>
</td>
<td class="nump">&#8364; 3,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,530<span></span>
</td>
<td class="nump">2,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Non-current portion of non-current borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,293<span></span>
</td>
<td class="nump">1,361<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentGovernmentGrants', window );">Non-current government grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53<span></span>
</td>
<td class="nump">55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Non-current portion of non-current borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">243<span></span>
</td>
<td class="nump">292<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">173<span></span>
</td>
<td class="nump">1,188<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentOnBorrowings', window );">Payment on borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">657<span></span>
</td>
<td class="nump">165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember', window );">Licenses | Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">331<span></span>
</td>
<td class="nump">704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,844<span></span>
</td>
<td class="nump">R$ 4,451<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities', window );">Payables and other non-current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">214<span></span>
</td>
<td class="nump">270<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,192<span></span>
</td>
<td class="nump">R$ 1,704<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">700<span></span>
</td>
<td class="nump">R$ 4,459<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Licenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions</a></td>
<td class="nump">&#8364; 1,425<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentOnBorrowings', window );">Payment on borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">108<span></span>
</td>
<td class="nump">108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Outstanding balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">998<span></span>
</td>
<td class="nump">1,097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Non-current portion of non-current borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 891<span></span>
</td>
<td class="nump">&#8364; 990<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to intangible assets other than goodwill, other than those acquired through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of a present obligation of the entity to transfer an economic resource as a result of past events. Economic resource is a right that has the potential to produce economic benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentGovernmentGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current government grants recognised on the statement of financial position as deferred income. [Refer: Government [member]; Government grants]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentGovernmentGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NoncurrentPayablesAndOtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Noncurrent Payables And Other Non-current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NoncurrentPayablesAndOtherNoncurrentLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentOnBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payment On Borrowings</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentOnBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TradeAndOtherPayablesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Trade And Other Payables [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeAndOtherPayablesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis=ifrs-full_LicencesAndFranchisesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781866912">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Payables and Other Current Liabilities - Composition of Payables And Other Current Liabilities (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Payables</a></td>
<td class="nump">&#8364; 12,018<span></span>
</td>
<td class="nump">&#8364; 11,872<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables</a></td>
<td class="nump">7,545<span></span>
</td>
<td class="nump">6,982<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets', window );">Payables to suppliers of property, plant and equipment</a></td>
<td class="nump">2,841<span></span>
</td>
<td class="nump">2,752<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">248<span></span>
</td>
<td class="nump">569<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Other payables</a></td>
<td class="nump">1,088<span></span>
</td>
<td class="nump">997<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDividendPayables', window );">Dividends pending payment</a></td>
<td class="nump">203<span></span>
</td>
<td class="nump">228<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures (Note 10)</a></td>
<td class="nump">93<span></span>
</td>
<td class="nump">344<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentLiabilities', window );">Other current liabilities</a></td>
<td class="nump">1,491<span></span>
</td>
<td class="nump">1,338<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentContractLiabilities', window );">Contract liabilities (Note 23)</a></td>
<td class="nump">1,038<span></span>
</td>
<td class="nump">958<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentDeferredIncomeOtherThanCurrentContractLiabilities', window );">Deferred revenue</a></td>
<td class="nump">102<span></span>
</td>
<td class="nump">115<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAdvances', window );">Advances received</a></td>
<td class="nump">350<span></span>
</td>
<td class="nump">265<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherLiabilitiesAssociatesAndJointVentures', window );">Other liabilities to associates and joint ventures (Note 10)</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentPayablesAndOtherCurrentLiabilities', window );">Total</a></td>
<td class="nump">&#8364; 13,509<span></span>
</td>
<td class="nump">&#8364; 13,210<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current advances received representing current contract liabilities for performance obligations satisfied at a point in time. [Refer: Advances received, representing contract liabilities for performance obligations satisfied at point in time]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current contract liabilities. [Refer: Contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDeferredIncomeOtherThanCurrentContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current deferred income other than current contract liabilities. [Refer: Deferred income other than contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDeferredIncomeOtherThanCurrentContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDividendPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current dividend payables. [Refer: Dividend payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDividendPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables for the purchase of non-current assets. [Refer: Payables for purchase of non-current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPayablesForPurchaseOfNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables due to related parties. [Refer: Related parties [member]; Payables to related parties]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of payment due to suppliers for goods and services used in entity's business. [Refer: Current liabilities; Trade payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentPayablesAndOtherCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Payables And Other Current Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentPayablesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherLiabilitiesAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Liabilities, Associates And Joint Ventures</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherLiabilitiesAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799505392">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Payables and Other Current Liabilities - Current Debt Spectrum Acquisition (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of non-current borrowings</a></td>
<td class="nump">&#8364; 248<span></span>
</td>
<td class="nump">&#8364; 569<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of non-current borrowings</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember', window );">Colombia Telecomunicaciones, S.A., ESP</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of non-current borrowings</a></td>
<td class="nump">17<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of non-current borrowings</a></td>
<td class="nump">117<span></span>
</td>
<td class="nump">434<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of non-current borrowings</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OtherSubsidiariesMember', window );">Other Subsidiaries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Current portion of non-current borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 16<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TradeAndOtherPayablesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Trade And Other Payables [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeAndOtherPayablesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OtherSubsidiariesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799971888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Current Liabilities - Narrative (Details)<br> &#8364; in Millions, &#163; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>GBP (&#163;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">&#8364; 248<span></span>
</td>
<td class="nump">&#8364; 569<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures</a></td>
<td class="nump">93<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentGovernmentGrants', window );">Current government grants</a></td>
<td class="nump">17<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">117<span></span>
</td>
<td class="nump">434<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPortionOfLongtermBorrowings', window );">Payables for spectrum acquisition</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">&#8364; 107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Payables to associates and joint ventures</a></td>
<td class="nump">&#8364; 253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 213<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers', window );">Weighted average maturity period</a></td>
<td class="text">53 days<span></span>
</td>
<td class="text">54 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentGovernmentGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current government grants recognised in the statement of financial position as deferred income. [Refer: Government [member]; Government grants]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentGovernmentGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPortionOfLongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPortionOfLongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables due to related parties. [Refer: Related parties [member]; Payables to related parties]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TradeAndOtherPayablesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Trade And Other Payables [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeAndOtherPayablesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted Average Maturity Period, Payment Period To Suppliers</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780880416">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Payables and Other Current Liabilities - Composition of Other Payables (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract', window );"><strong>Subclassifications of assets, liabilities and equities [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ShorttermEmployeeBenefitsAccruals', window );">Accrued employee benefits</a></td>
<td class="nump">&#8364; 608<span></span>
</td>
<td class="nump">&#8364; 516<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherCurrentNonFinancialNonTradePayables', window );">Other non-financial non-trade payables</a></td>
<td class="nump">480<span></span>
</td>
<td class="nump">481<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCurrentPayables', window );">Total</a></td>
<td class="nump">&#8364; 1,088<span></span>
</td>
<td class="nump">&#8364; 997<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermEmployeeBenefitsAccruals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of accruals for employee benefits (other than termination benefits) that are expected to be settled wholly within twelve months after the end of the annual reporting period in which the employees render the related services. [Refer: Accruals classified as current]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermEmployeeBenefitsAccruals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubclassificationsOfAssetsLiabilitiesAndEquitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherCurrentNonFinancialNonTradePayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Non-Financial Non-Trade Payables</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherCurrentNonFinancialNonTradePayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>205
<FILENAME>R189.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791528688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Current Liabilities - Information on Average Payment Period to Suppliers (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentstoSuppliersLineItems', window );"><strong>Payments to Suppliers [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices', window );">Total payments</a></td>
<td class="nump">&#8364; 29,509<span></span>
</td>
<td class="nump">&#8364; 29,236<span></span>
</td>
<td class="nump">&#8364; 31,080<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentstoSuppliersLineItems', window );"><strong>Payments to Suppliers [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers', window );">Weighted average maturity period</a></td>
<td class="text">53 days<span></span>
</td>
<td class="text">54 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RatioOfPayments', window );">Ratio of payments</a></td>
<td class="text">55 days<span></span>
</td>
<td class="text">56 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RatioOfOutstandingInvoices', window );">Ratio of outstanding invoices</a></td>
<td class="text">42 days<span></span>
</td>
<td class="text">42 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices', window );">Total payments</a></td>
<td class="nump">&#8364; 8,362<span></span>
</td>
<td class="nump">&#8364; 7,671<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OutstandingInvoicesFromSuppliers', window );">Outstanding invoices</a></td>
<td class="nump">&#8364; 1,251<span></span>
</td>
<td class="nump">&#8364; 1,264<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to suppliers for goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsToSuppliersForGoodsAndServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OutstandingInvoicesFromSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Outstanding Invoices From Suppliers</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OutstandingInvoicesFromSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentstoSuppliersLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Payments to Suppliers [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentstoSuppliersLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RatioOfOutstandingInvoices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Ratio Of Outstanding Invoices</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RatioOfOutstandingInvoices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RatioOfPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Ratio Of Payments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RatioOfPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted Average Maturity Period, Payment Period To Suppliers</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_WeightedAverageMaturityPeriodPaymentPeriodToSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>206
<FILENAME>R190.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787250336">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Payables and Other Current Liabilities - Changes in Provision Law 18/2022 (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>invoice</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices', window );">Total payments</a></td>
<td class="nump">&#8364; 29,509<span></span>
</td>
<td class="nump">&#8364; 29,236<span></span>
</td>
<td class="nump">&#8364; 31,080<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices', window );">Total payments</a></td>
<td class="nump">8,362<span></span>
</td>
<td class="nump">&#8364; 7,671<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Law 18/2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesLineItems', window );"><strong>Trade And Other Payables [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices', window );">Total payments</a></td>
<td class="nump">&#8364; 4,899<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsToSuppliersForGoodsAndServicesToTotalPercentage', window );">Payments To Suppliers For Goods And Services, To Total, Percentage</a></td>
<td class="nump">0.59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServices', window );">Number of Invoices, Payments To Suppliers For Goods And Services | invoice</a></td>
<td class="nump">157,523<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage', window );">Number of Invoices, Payments To Suppliers For Goods And Services, To Total, Percentage</a></td>
<td class="nump">0.54<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to suppliers for goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of Invoices, Payments To Suppliers For Goods And Services</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of Invoices, Payments To Suppliers For Goods And Services, To Total, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments To Suppliers For Goods And Services, To Total, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsToSuppliersForGoodsAndServicesToTotalPercentage</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Trade And Other Payables [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeAndOtherPayablesLineItems</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787543776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Movement in Contract Assets (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssetsAbstract', window );"><strong>Contract assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, beginning balance</a></td>
<td class="nump">&#8364; 342<span></span>
</td>
<td class="nump">&#8364; 249<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets', window );">Additions</a></td>
<td class="nump">555<span></span>
</td>
<td class="nump">293<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractAssets', window );">Disposals</a></td>
<td class="num">(349)<span></span>
</td>
<td class="num">(198)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractAssets', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">6<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, ending balance</a></td>
<td class="nump">554<span></span>
</td>
<td class="nump">342<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember', window );">Long-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssetsAbstract', window );"><strong>Contract assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, beginning balance</a></td>
<td class="nump">209<span></span>
</td>
<td class="nump">145<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets', window );">Additions</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractAssets', window );">Disposals</a></td>
<td class="num">(12)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractAssets', window );">Transfers</a></td>
<td class="num">(100)<span></span>
</td>
<td class="num">(49)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, ending balance</a></td>
<td class="nump">359<span></span>
</td>
<td class="nump">209<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember', window );">Long-term contracts | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssetsAbstract', window );"><strong>Contract assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, beginning balance</a></td>
<td class="nump">210<span></span>
</td>
<td class="nump">146<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets', window );">Additions</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractAssets', window );">Disposals</a></td>
<td class="num">(12)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractAssets', window );">Transfers</a></td>
<td class="num">(100)<span></span>
</td>
<td class="num">(49)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, ending balance</a></td>
<td class="nump">360<span></span>
</td>
<td class="nump">210<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember', window );">Long-term contracts | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssetsAbstract', window );"><strong>Contract assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, beginning balance</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractAssets', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractAssets', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, ending balance</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_ShorttermContractsMember', window );">Short-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssetsAbstract', window );"><strong>Contract assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, beginning balance</a></td>
<td class="nump">133<span></span>
</td>
<td class="nump">104<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets', window );">Additions</a></td>
<td class="nump">294<span></span>
</td>
<td class="nump">180<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractAssets', window );">Disposals</a></td>
<td class="num">(337)<span></span>
</td>
<td class="num">(198)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractAssets', window );">Transfers</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">48<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">5<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, ending balance</a></td>
<td class="nump">195<span></span>
</td>
<td class="nump">133<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_ShorttermContractsMember', window );">Short-term contracts | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssetsAbstract', window );"><strong>Contract assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, beginning balance</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">113<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets', window );">Additions</a></td>
<td class="nump">295<span></span>
</td>
<td class="nump">182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractAssets', window );">Disposals</a></td>
<td class="num">(340)<span></span>
</td>
<td class="num">(201)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractAssets', window );">Transfers</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">48<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">6<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, ending balance</a></td>
<td class="nump">202<span></span>
</td>
<td class="nump">141<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_ShorttermContractsMember', window );">Short-term contracts | Impairment losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssetsAbstract', window );"><strong>Contract assets [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, beginning balance</a></td>
<td class="num">(8)<span></span>
</td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets', window );">Additions</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractAssets', window );">Disposals</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractAssets', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">Contract assets, ending balance</a></td>
<td class="num">&#8364; (7)<span></span>
</td>
<td class="num">&#8364; (8)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContractAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an entity&#8217;s right to consideration in exchange for goods or services that the entity has transferred to a customer, when that right is conditioned on something other than the passage of time (for example, the entity&#8217;s future performance).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 116<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_116_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractAssetsAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseThroughBusinessCombinationsContractAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in contract assets resulting from business combinations. [Refer: Business combinations [member]; Contract assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseThroughBusinessCombinationsContractAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease Through Disposals, Contract Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DecreaseThroughDisposalsContractAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Transfers, Contract Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTransfersContractAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Translation Differences And Hyperinflation Adjustments, Contract Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember</td>
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<td><strong> Data Type:</strong></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489806607984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Movement in Deferred Expenses (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">&#8364; 1,223<span></span>
</td>
<td class="nump">&#8364; 911<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">1,450<span></span>
</td>
<td class="nump">1,120<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="num">(989)<span></span>
</td>
<td class="num">(799)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">39<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">1,739<span></span>
</td>
<td class="nump">1,223<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember', window );">Long-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">555<span></span>
</td>
<td class="nump">331<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">820<span></span>
</td>
<td class="nump">631<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="num">(2)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="num">(547)<span></span>
</td>
<td class="num">(401)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">19<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">854<span></span>
</td>
<td class="nump">555<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_ShorttermContractsMember', window );">Short-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">668<span></span>
</td>
<td class="nump">580<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">630<span></span>
</td>
<td class="nump">489<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="num">(987)<span></span>
</td>
<td class="num">(799)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="nump">547<span></span>
</td>
<td class="nump">400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">20<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">885<span></span>
</td>
<td class="nump">668<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Impairment losses | Long-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Impairment losses | Short-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis=ifrs-full_CostsToObtainContractsWithCustomersMember', window );">Of obtaining a contract | Gross cost | Long-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">371<span></span>
</td>
<td class="nump">212<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">671<span></span>
</td>
<td class="nump">496<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="num">(447)<span></span>
</td>
<td class="num">(334)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">6<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">610<span></span>
</td>
<td class="nump">371<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis=ifrs-full_CostsToObtainContractsWithCustomersMember', window );">Of obtaining a contract | Gross cost | Short-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">537<span></span>
</td>
<td class="nump">469<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">509<span></span>
</td>
<td class="nump">388<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="num">(801)<span></span>
</td>
<td class="num">(653)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="nump">448<span></span>
</td>
<td class="nump">333<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">710<span></span>
</td>
<td class="nump">537<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis=ifrs-full_SetupCostsMember', window );">Of fulfilling a contract | Gross cost | Long-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">184<span></span>
</td>
<td class="nump">119<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">149<span></span>
</td>
<td class="nump">135<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="num">(2)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="num">(100)<span></span>
</td>
<td class="num">(67)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">13<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">244<span></span>
</td>
<td class="nump">184<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis=ifrs-full_SetupCostsMember', window );">Of fulfilling a contract | Gross cost | Short-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems', window );"><strong>Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, beginning balance</a></td>
<td class="nump">131<span></span>
</td>
<td class="nump">111<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts', window );">Additions</a></td>
<td class="nump">121<span></span>
</td>
<td class="nump">101<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsCapitalizedCosts', window );">Disposals</a></td>
<td class="num">(186)<span></span>
</td>
<td class="num">(146)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts', window );">Transfers</a></td>
<td class="nump">99<span></span>
</td>
<td class="nump">67<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">10<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherMovementsCapitalizedCosts', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers', window );">Capitalized costs, ending balance</a></td>
<td class="nump">&#8364; 175<span></span>
</td>
<td class="nump">&#8364; 131<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets recognised from the costs to obtain or fulfil contracts with customers. The costs to obtain a contract with a customer are the incremental costs of obtaining the contract that the entity would not have incurred if the contract had not been obtained. The costs to fulfil a contract with a customer are the costs that relate directly to a contract or to an anticipated contract that the entity can specifically identify.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 128<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_128_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DecreaseThroughDisposalsCapitalizedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease Through Disposals, Capitalized Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DecreaseThroughDisposalsCapitalizedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughTransfersCapitalizedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Transfers, Capitalized Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTransfersCapitalizedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Translation Differences And Hyperinflation Adjustments, Capitalized Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseThroughBusinessCombinationsCapitalizedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase Through Business Combinations, Capitalized Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseThroughBusinessCombinationsCapitalizedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherMovementsCapitalizedCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Movements, Capitalized Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherMovementsCapitalizedCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractDurationAxis=ifrs-full_ShorttermContractsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis=ifrs-full_CostsToObtainContractsWithCustomersMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersAxis=ifrs-full_SetupCostsMember</td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780782512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Movement In Contract Liabilities (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContractAssetsAndLiabilitiesLineItems', window );"><strong>Contract Assets And Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractLiabilities', window );">Contract liabilities, beginning balance</a></td>
<td class="nump">&#8364; 1,787<span></span>
</td>
<td class="nump">&#8364; 1,738<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities', window );">Additions</a></td>
<td class="nump">5,846<span></span>
</td>
<td class="nump">5,452<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsfromPriorYearsContractLiabilities', window );">Disposals (previous years)</a></td>
<td class="num">(986)<span></span>
</td>
<td class="num">(729)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractLiabilities', window );">Disposals (current year)</a></td>
<td class="num">(4,756)<span></span>
</td>
<td class="num">(4,705)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractLiabilities', window );">Transfers</a></td>
<td class="num">(6)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">22<span></span>
</td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughothermovementscontractliabilities', window );">Other movements</a></td>
<td class="nump">22<span></span>
</td>
<td class="nump">13<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractLiabilities', window );">Contract liabilities, ending balance</a></td>
<td class="nump">1,929<span></span>
</td>
<td class="nump">1,787<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember', window );">Long-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContractAssetsAndLiabilitiesLineItems', window );"><strong>Contract Assets And Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractLiabilities', window );">Contract liabilities, beginning balance</a></td>
<td class="nump">829<span></span>
</td>
<td class="nump">762<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities', window );">Additions</a></td>
<td class="nump">300<span></span>
</td>
<td class="nump">270<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsfromPriorYearsContractLiabilities', window );">Disposals (previous years)</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractLiabilities', window );">Disposals (current year)</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(11)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractLiabilities', window );">Transfers</a></td>
<td class="num">(242)<span></span>
</td>
<td class="num">(206)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughothermovementscontractliabilities', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractLiabilities', window );">Contract liabilities, ending balance</a></td>
<td class="nump">891<span></span>
</td>
<td class="nump">829<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractDurationAxis=ifrs-full_ShorttermContractsMember', window );">Short-term contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContractAssetsAndLiabilitiesLineItems', window );"><strong>Contract Assets And Liabilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractLiabilities', window );">Contract liabilities, beginning balance</a></td>
<td class="nump">958<span></span>
</td>
<td class="nump">976<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities', window );">Additions</a></td>
<td class="nump">5,546<span></span>
</td>
<td class="nump">5,182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsfromPriorYearsContractLiabilities', window );">Disposals (previous years)</a></td>
<td class="num">(984)<span></span>
</td>
<td class="num">(725)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseThroughDisposalsContractLiabilities', window );">Disposals (current year)</a></td>
<td class="num">(4,756)<span></span>
</td>
<td class="num">(4,694)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTransfersContractLiabilities', window );">Transfers</a></td>
<td class="nump">236<span></span>
</td>
<td class="nump">204<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughothermovementscontractliabilities', window );">Other movements</a></td>
<td class="nump">22<span></span>
</td>
<td class="nump">13<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContractLiabilities', window );">Contract liabilities, ending balance</a></td>
<td class="nump">&#8364; 1,038<span></span>
</td>
<td class="nump">&#8364; 958<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of an entity&#8217;s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 105<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 116<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_116_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in contract liabilities resulting from business combinations. [Refer: Business combinations [member]; Contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Contract Assets And Liabilities [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ContractAssetsAndLiabilitiesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DecreaseThroughDisposalsContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease Through Disposals, Contract Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DecreaseThroughDisposalsContractLiabilities</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DecreaseThroughDisposalsfromPriorYearsContractLiabilities">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease Through Disposals from Prior Years, Contract Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DecreaseThroughDisposalsfromPriorYearsContractLiabilities</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Transfers, Contract Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTransfersContractLiabilities</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Translation Differences And Hyperinflation Adjustments, Contract Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through other movements, contract liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Increasedecreasethroughothermovementscontractliabilities</td>
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<td style="white-space:nowrap;">ifrs-full_ContractDurationAxis=ifrs-full_LongtermContractsMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractDurationAxis=ifrs-full_ShorttermContractsMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781790448">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Breakdown of Contractual Assets and Liabilities, and Capitalized Costs - Maturity Schedule of Contractual Liabilities (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">&#8364; 1,929<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_ActivationFeesMember', window );">Contractual liabilities, activation fees</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">35<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_SalesOfPrepayCardsMember', window );">Contractual liabilities, sales of prepay cards</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">524<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_ServicesMember', window );">Contractual liabilities, services</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">477<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_SalesOfHandsetsMember', window );">Contractual liabilities, sales of handsets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">31<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_SalesofOtherEquipmentsMember', window );">Contractual liabilities, sales of other equipments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_IrrevocableRightsToUseMember', window );">Contractual liabilities, irrevocable rights to use</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">622<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProductsAndServicesAxis=tef_OtherProductsAndServicesMember', window );">Other contractual liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">217<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">1,038<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Contractual liabilities, activation fees</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">23<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Contractual liabilities, sales of prepay cards</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">524<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Contractual liabilities, services</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">308<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Contractual liabilities, sales of handsets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Contractual liabilities, sales of other equipments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Contractual liabilities, irrevocable rights to use</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">70<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Other contractual liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">84<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">175<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Contractual liabilities, activation fees</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Contractual liabilities, sales of prepay cards</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Contractual liabilities, services</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">75<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Contractual liabilities, sales of handsets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Contractual liabilities, sales of other equipments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Contractual liabilities, irrevocable rights to use</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">69<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Other contractual liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">110<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Contractual liabilities, activation fees</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Contractual liabilities, sales of prepay cards</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Contractual liabilities, services</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Contractual liabilities, sales of handsets</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Contractual liabilities, sales of other equipments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Contractual liabilities, irrevocable rights to use</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">62<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Other contractual liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">606<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years | Contractual liabilities, activation fees</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years | Contractual liabilities, sales of prepay cards</a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years | Contractual liabilities, services</a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">64<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years | Contractual liabilities, sales of handsets</a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years | Contractual liabilities, sales of other equipments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years | Contractual liabilities, irrevocable rights to use</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">421<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsMember', window );">Subsequent years | Other contractual liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsLineItems', window );"><strong>Disclosure of transaction price allocated to remaining performance obligations [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations', window );">Maturity of performance obligations</a></td>
<td class="nump">&#8364; 100<span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties (for example, some sales taxes). [Refer: Performance obligations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 120<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_120_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489777979088">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Amounts of Provisions (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentProvisionsAbstract', window );"><strong>Current</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentProvisionsForEmployeeBenefits', window );">Employee benefits</a></td>
<td class="nump">&#8364; 885<span></span>
</td>
<td class="nump">&#8364; 1,003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentProvisionsForTerminationPlans', window );">Termination plans</a></td>
<td class="nump">135<span></span>
</td>
<td class="nump">254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentProvisionsForDefinedBenefitPlans', window );">Post-employment defined benefit plans</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentProvisionsForOtherEmployeeBenefits', window );">Other benefits</a></td>
<td class="nump">741<span></span>
</td>
<td class="nump">741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentProvisionsForDismantlingOfAssets', window );">Dismantling of assets</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherShorttermProvisions', window );">Other provisions</a></td>
<td class="nump">720<span></span>
</td>
<td class="nump">413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentProvisions', window );">Total</a></td>
<td class="nump">1,631<span></span>
</td>
<td class="nump">1,441<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisionsAbstract', window );"><strong>Non-current</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits', window );">Employee benefits</a></td>
<td class="nump">4,093<span></span>
</td>
<td class="nump">5,395<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentProvisionsForTerminationPlans', window );">Termination plans</a></td>
<td class="nump">241<span></span>
</td>
<td class="nump">374<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentProvisionsForDefinedBenefitPlans', window );">Post-employment defined benefit plans</a></td>
<td class="nump">329<span></span>
</td>
<td class="nump">400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentProvisionsForOtherEmployeeBenefits', window );">Other benefits</a></td>
<td class="nump">3,523<span></span>
</td>
<td class="nump">4,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentProvisionsForDismantlingOfAssets', window );">Dismantling of assets</a></td>
<td class="nump">502<span></span>
</td>
<td class="nump">552<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherLongtermProvisions', window );">Other provisions</a></td>
<td class="nump">1,910<span></span>
</td>
<td class="nump">1,715<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisions', window );">Total</a></td>
<td class="nump">6,505<span></span>
</td>
<td class="nump">7,662<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TotalProvisionsAbstract', window );"><strong>Total</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionsForEmployeeBenefits', window );">Employee benefits</a></td>
<td class="nump">4,978<span></span>
</td>
<td class="nump">6,398<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForTerminationPlans', window );">Termination plans</a></td>
<td class="nump">376<span></span>
</td>
<td class="nump">628<span></span>
</td>
<td class="nump">&#8364; 785<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForDefinedBenefitPlans', window );">Post-employment defined benefit plans</a></td>
<td class="nump">338<span></span>
</td>
<td class="nump">408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForOtherEmployeeBenefits', window );">Other benefits</a></td>
<td class="nump">4,264<span></span>
</td>
<td class="nump">5,362<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionForDismantlingOfAssets', window );">Dismantling of assets</a></td>
<td class="nump">528<span></span>
</td>
<td class="nump">577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">2,630<span></span>
</td>
<td class="nump">2,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Total</a></td>
<td class="nump">&#8364; 8,136<span></span>
</td>
<td class="nump">&#8364; 9,103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current provisions, including provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph l<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentProvisionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentProvisionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current provisions for employee benefits. [Refer: Provisions for employee benefits]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions, including provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph l<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions for employee benefits. [Refer: Provisions for employee benefits]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLongtermProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions other than provisions for employee benefits. [Refer: Non-current provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLongtermProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherShorttermProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherShorttermProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Provisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities of uncertain timing or amount, including provisions for employee benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph l<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Provisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions for employee benefits. [Refer: Employee benefits expense; Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentProvisionsForDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Provisions For Defined Benefit Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentProvisionsForDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentProvisionsForDismantlingOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Provisions For Dismantling of Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentProvisionsForDismantlingOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentProvisionsForOtherEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Provisions For Other Employee Benefits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentProvisionsForOtherEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentProvisionsForTerminationPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Provisions For Termination Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentProvisionsForTerminationPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentProvisionsForDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Provisions For Defined Benefit Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentProvisionsForDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentProvisionsForDismantlingOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Provisions For Dismantling Of Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentProvisionsForDismantlingOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentProvisionsForOtherEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Provisions For Other Employee Benefits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentProvisionsForOtherEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentProvisionsForTerminationPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Provisions For Termination Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentProvisionsForTerminationPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionForDismantlingOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provision For Dismantling Of Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionForDismantlingOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionsForDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provisions For Defined Benefit Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionsForDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionsForOtherEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provisions For Other Employee Benefits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionsForOtherEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionsForTerminationPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provisions For Termination Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionsForTerminationPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total Provisions [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<html>
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<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787167520">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Distribution by Segment of Restructuring Costs (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring costs</a></td>
<td class="nump">&#8364; 179<span></span>
</td>
<td class="nump">&#8364; 1,663<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring costs</a></td>
<td class="nump">57<span></span>
</td>
<td class="nump">1,382<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring costs</a></td>
<td class="nump">16<span></span>
</td>
<td class="nump">22<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring costs</a></td>
<td class="nump">98<span></span>
</td>
<td class="nump">174<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring costs</a></td>
<td class="nump">&#8364; 8<span></span>
</td>
<td class="nump">&#8364; 85<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provision for restructuring, such as the sale or termination of a line of business; closure of business locations in a country or region or relocation of activities from one country or region to another; changes in management structure; and fundamental reorganisations that have a material effect on the nature and focus of the entity's operations. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794253904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions - Termination Plans (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsRollForward', window );"><strong>Provisions [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForTerminationPlans', window );">Provision for post-employment plans at beginning of period</a></td>
<td class="nump">&#8364; 628<span></span>
</td>
<td class="nump">&#8364; 785<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdditionsToProvisionsForTerminationPlans', window );">Additions</a></td>
<td class="nump">106<span></span>
</td>
<td class="nump">249<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToRetirements', window );">Retirements/amount applied</a></td>
<td class="num">(311)<span></span>
</td>
<td class="num">(409)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInTerminationPlansThroughTransfersToFromTerminationPlans', window );">Transfers</a></td>
<td class="num">(43)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion', window );">Translation differences, hyperinflation adjustments and accretion</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForTerminationPlans', window );">Provision for post-employment plans at end of period</a></td>
<td class="nump">&#8364; 376<span></span>
</td>
<td class="nump">&#8364; 628<span></span>
</td>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additions To Provisions For Termination Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToRetirements">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Provisions For Termination Plans Due To Retirements</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToRetirements</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Provisions For Termination Plans Due To Translation Differences And Accretion</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInProvisionsForTerminationPlansDueToTranslationDifferencesAndAccretion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInTerminationPlansThroughTransfersToFromTerminationPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Termination Plans Through Transfers To (From) Termination Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInTerminationPlansThroughTransfersToFromTerminationPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionsForTerminationPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provisions For Termination Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionsForTerminationPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionsRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provisions [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionsRollForward</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489785802528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions - Restructuring Narrative (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>employee</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring provision</a></td>
<td class="nump">&#8364; 179<span></span>
</td>
<td class="nump">&#8364; 1,663<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring provision</a></td>
<td class="nump">&#8364; 57<span></span>
</td>
<td class="nump">1,382<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember', window );">Restructuring provision | Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">3.43%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation2019', window );">Average duration of plans</a></td>
<td class="text">8 months 26 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RestructuringPlan1Axis=tef_A20112013LaborForceReductionPlanMember', window );">2011-2013 Labor Force Reduction Plan | Restructuring provision | Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfEmployeesTerminated', window );">Number of employees participating in labor force reduction plan | employee</a></td>
<td class="nump">6,830<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RestructuringProvision', window );">Restructuring provision</a></td>
<td class="nump">&#8364; 38<span></span>
</td>
<td class="nump">&#8364; 145<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfDiscountRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The discount rate used as the significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 144<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfDiscountRates</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherProvisionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherProvisionsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RestructuringProvision">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provision for restructuring, such as the sale or termination of a line of business; closure of business locations in a country or region or relocation of activities from one country or region to another; changes in management structure; and fundamental reorganisations that have a material effect on the nature and focus of the entity's operations. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RestructuringProvision</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation2019">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average duration of a defined benefit obligation. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 147<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_147_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageDurationOfDefinedBenefitObligation2019</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Employees Terminated</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfEmployeesTerminated</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RestructuringPlan1Axis=tef_A20112013LaborForceReductionPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RestructuringPlan1Axis=tef_A20112013LaborForceReductionPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>215
<FILENAME>R199.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489783953248">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Main Data of Defined Benefit Plans (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForDefinedBenefitPlans', window );">Net provision</a></td>
<td class="nump">&#8364; 338<span></span>
</td>
<td class="nump">&#8364; 408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis=ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember', window );">Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">309<span></span>
</td>
<td class="nump">385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForDefinedBenefitPlans', window );">Net provision</a></td>
<td class="nump">338<span></span>
</td>
<td class="nump">408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LiabilityAssetOfDefinedBenefitPlansNetOfProvisions', window );">Net assets</a></td>
<td class="nump">29<span></span>
</td>
<td class="nump">23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember', window );">Obligation | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">913<span></span>
</td>
<td class="nump">960<span></span>
</td>
<td class="nump">&#8364; 1,086<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember', window );">Assets | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="num">(870)<span></span>
</td>
<td class="num">(774)<span></span>
</td>
<td class="num">(801)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=tef_NetProvisionBeforeAssetCeilingMember', window );">Net provision before asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">43<span></span>
</td>
<td class="nump">186<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_EffectOfAssetCeilingMember', window );">Asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">266<span></span>
</td>
<td class="nump">199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">223<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForDefinedBenefitPlans', window );">Net provision</a></td>
<td class="nump">117<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LiabilityAssetOfDefinedBenefitPlansNetOfProvisions', window );">Net assets</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments | Obligation | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">208<span></span>
</td>
<td class="nump">322<span></span>
</td>
<td class="nump">350<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments | Assets | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="num">(101)<span></span>
</td>
<td class="num">(99)<span></span>
</td>
<td class="num">(95)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">223<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments | Asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">137<span></span>
</td>
<td class="nump">88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForDefinedBenefitPlans', window );">Net provision</a></td>
<td class="nump">138<span></span>
</td>
<td class="nump">103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LiabilityAssetOfDefinedBenefitPlansNetOfProvisions', window );">Net assets</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments | Obligation | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">622<span></span>
</td>
<td class="nump">549<span></span>
</td>
<td class="nump">643<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments | Assets | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="num">(751)<span></span>
</td>
<td class="num">(660)<span></span>
</td>
<td class="num">(693)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="num">(129)<span></span>
</td>
<td class="num">(111)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments | Asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">266<span></span>
</td>
<td class="nump">199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Hispam | Operating segments | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">67<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForDefinedBenefitPlans', window );">Net provision</a></td>
<td class="nump">75<span></span>
</td>
<td class="nump">67<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LiabilityAssetOfDefinedBenefitPlansNetOfProvisions', window );">Net assets</a></td>
<td class="nump">11<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Hispam | Operating segments | Obligation | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">67<span></span>
</td>
<td class="nump">74<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Hispam | Operating segments | Assets | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Hispam | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">67<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Hispam | Operating segments | Asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProvisionsForDefinedBenefitPlans', window );">Net provision</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LiabilityAssetOfDefinedBenefitPlansNetOfProvisions', window );">Net assets</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments | Obligation | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">22<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments | Assets | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="num">(18)<span></span>
</td>
<td class="num">(15)<span></span>
</td>
<td class="num">&#8364; (13)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments | Net provision before asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments | Asset ceiling | Post-employment defined benefit plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems', window );"><strong>Disclosure of net defined benefit liability (asset) [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNetDefinedBenefitLiabilityAssetLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 140<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LiabilityAssetOfDefinedBenefitPlansNetOfProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Liability (Asset) Of Defined Benefit Plans, Net Of Provisions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LiabilityAssetOfDefinedBenefitPlansNetOfProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProvisionsForDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Provisions For Defined Benefit Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProvisionsForDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis=ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis=ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=tef_NetProvisionBeforeAssetCeilingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=tef_NetProvisionBeforeAssetCeilingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_EffectOfAssetCeilingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_EffectOfAssetCeilingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>216
<FILENAME>R200.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489782504096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions - Movement in the Present Value of Obligations (Details) - Post-employment defined benefit plans - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">&#8364; 385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">309<span></span>
</td>
<td class="nump">&#8364; 385<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember', window );">Present value of obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">960<span></span>
</td>
<td class="nump">1,086<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">68<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Current service cost</a></td>
<td class="nump">19<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="nump">63<span></span>
</td>
<td class="nump">57<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="num">(130)<span></span>
</td>
<td class="num">(154)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(58)<span></span>
</td>
<td class="num">(45)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Plancurtailmentnetdefinedbenefitliabilityasset', window );">Plan curtailments</a></td>
<td class="num">(3)<span></span>
</td>
<td class="num">(22)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="num">(6)<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">913<span></span>
</td>
<td class="nump">960<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">223<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">223<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments | Present value of obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">322<span></span>
</td>
<td class="nump">350<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Current service cost</a></td>
<td class="nump">11<span></span>
</td>
<td class="nump">10<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="num">(123)<span></span>
</td>
<td class="num">(36)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(5)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Plancurtailmentnetdefinedbenefitliabilityasset', window );">Plan curtailments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">208<span></span>
</td>
<td class="nump">322<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">137<span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments | Present value of obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">549<span></span>
</td>
<td class="nump">643<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Current service cost</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="nump">54<span></span>
</td>
<td class="nump">48<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="num">(10)<span></span>
</td>
<td class="num">(115)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(48)<span></span>
</td>
<td class="num">(36)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Plancurtailmentnetdefinedbenefitliabilityasset', window );">Plan curtailments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">622<span></span>
</td>
<td class="nump">549<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Hispam | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">67<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">67<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Hispam | Operating segments | Present value of obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">67<span></span>
</td>
<td class="nump">74<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="num">(7)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Current service cost</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="nump">3<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Plancurtailmentnetdefinedbenefitliabilityasset', window );">Plan curtailments</a></td>
<td class="num">(3)<span></span>
</td>
<td class="num">(22)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="num">(2)<span></span>
</td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">67<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments | Present value of obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at beginning of period</a></td>
<td class="nump">22<span></span>
</td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Current service cost</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Plancurtailmentnetdefinedbenefitliabilityasset', window );">Plan curtailments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="num">(4)<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit liability (asset) at end of period</a></td>
<td class="nump">&#8364; 19<span></span>
</td>
<td class="nump">&#8364; 22<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from employee service in the current period. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from the remeasurement of that net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes in foreign exchange rates. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 140<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from payments from the plan. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NetDefinedBenefitLiabilityAssetRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net Defined Benefit Liability Asset [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NetDefinedBenefitLiabilityAssetRollForward</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Plancurtailmentnetdefinedbenefitliabilityasset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Plan curtailment, net defined benefit liability (asset)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Plancurtailmentnetdefinedbenefitliabilityasset</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis=ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis=ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799373232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions - Movements in the Fair Value of Plan Assets (Details) - Post-employment defined benefit plans - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
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<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="num">&#8364; (385)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="num">(309)<span></span>
</td>
<td class="num">&#8364; (385)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember', window );">Fair value of plan assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="nump">774<span></span>
</td>
<td class="nump">801<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">90<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest income</a></td>
<td class="nump">66<span></span>
</td>
<td class="nump">51<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="num">(3)<span></span>
</td>
<td class="num">(39)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset', window );">Participants contributions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset', window );">Company contributions</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(45)<span></span>
</td>
<td class="num">(35)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset', window );">Transfers</a></td>
<td class="nump">5<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="num">(19)<span></span>
</td>
<td class="num">(15)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="nump">870<span></span>
</td>
<td class="nump">774<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="num">(223)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="num">(107)<span></span>
</td>
<td class="num">(223)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Germany | Operating segments | Fair value of plan assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="nump">99<span></span>
</td>
<td class="nump">95<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest income</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset', window );">Participants contributions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset', window );">Company contributions</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(3)<span></span>
</td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset', window );">Transfers</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="nump">101<span></span>
</td>
<td class="nump">99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="num">(88)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="num">(137)<span></span>
</td>
<td class="num">(88)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Operating segments | Fair value of plan assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="nump">660<span></span>
</td>
<td class="nump">693<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">89<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest income</a></td>
<td class="nump">65<span></span>
</td>
<td class="nump">51<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="num">(2)<span></span>
</td>
<td class="num">(42)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset', window );">Participants contributions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset', window );">Company contributions</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="num">(42)<span></span>
</td>
<td class="num">(33)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset', window );">Transfers</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="num">(19)<span></span>
</td>
<td class="num">(15)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="nump">751<span></span>
</td>
<td class="nump">660<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="num">(7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="num">(1)<span></span>
</td>
<td class="num">(7)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Others | Operating segments | Fair value of plan assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NetDefinedBenefitLiabilityAssetRollForward', window );"><strong>Net Defined Benefit Liability Asset [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at beginning of period</a></td>
<td class="nump">15<span></span>
</td>
<td class="nump">13<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Translation differences</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset', window );">Actuarial losses and gains</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset', window );">Participants contributions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset', window );">Company contributions</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset', window );">Transfers</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Other movements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Net defined benefit asset (liability) at end of period</a></td>
<td class="nump">&#8364; 18<span></span>
</td>
<td class="nump">&#8364; 15<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in net defined benefit liability (asset) resulting from contributions to a defined benefit plan by the employer. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from contributions to a defined benefit plan by plan participants. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from the remeasurement of that net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes in foreign exchange rates. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 140<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from payments from the plan. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 141<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_141_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through transfers, net defined benefit liability (asset)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Increasedecreasethroughtransfersnetdefinedbenefitliabilityasset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NetDefinedBenefitLiabilityAssetRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net Defined Benefit Liability Asset [Roll Forward]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NetDefinedBenefitLiabilityAssetRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis=ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CharacteristicsOfDefinedBenefitPlansAxis=ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>218
<FILENAME>R202.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784748624">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Main Actuarial Assumptions Used in Telef&#243;nica Brazil Plan (Details) - Brazil - Foreign defined benefit plans<br></strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansLineItems', window );"><strong>Disclosure of defined benefit plans [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation', window );">Long-term inflation rate</a></td>
<td class="nump">3.50%<span></span>
</td>
<td class="nump">3.25%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates', window );">Growth rate for medical costs</a></td>
<td class="nump">6.61%<span></span>
</td>
<td class="nump">6.35%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansLineItems', window );"><strong>Disclosure of defined benefit plans [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">9.75%<span></span>
</td>
<td class="nump">8.56%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Nominal rate of salary increase</a></td>
<td class="nump">4.57%<span></span>
</td>
<td class="nump">4.32%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansLineItems', window );"><strong>Disclosure of defined benefit plans [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">9.83%<span></span>
</td>
<td class="nump">8.78%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Nominal rate of salary increase</a></td>
<td class="nump">6.35%<span></span>
</td>
<td class="nump">6.09%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfDiscountRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The discount rate used as the significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 144<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfDiscountRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The expected rate of inflation that is used as a significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit plans [member]; Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 144<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The expected rate of salary increases used as a significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit plans [member]; Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 144<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Medical cost trend rate used as significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 144<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDefinedBenefitPlansLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDefinedBenefitPlansLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=tef_ForeignDefinedBenefitPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=tef_ForeignDefinedBenefitPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>219
<FILENAME>R203.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489806688976">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Sensitivity to Changes in Actuarial Assumptions on Discounted Obligation of Telef&#243;nica Brazil Plan (Details) - Brazil - Foreign defined benefit plans<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Discount rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 622<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Discount rate | Present value of the obligation by increasing the discount rate by 0.5%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 594<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption', window );">Percentage of possible increase in actuarial assumption</a></td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Discount rate | Present value of the obligation by reducing the discount rate by 0.5%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 653<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption', window );">Percentage of reasonably possible decrease in actuarial assumption</a></td>
<td class="nump">0.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Growth rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 622<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Growth rate | Present value of the obligation by increasing the rate by 1%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 659<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption', window );">Percentage of possible increase in actuarial assumption</a></td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Growth rate | Present value of the obligation by reducing the rate by 1%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 592<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption', window );">Percentage of reasonably possible decrease in actuarial assumption</a></td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Pension plans | Discount rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 354<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Pension plans | Discount rate | Present value of the obligation by increasing the discount rate by 0.5%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">341<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Pension plans | Discount rate | Present value of the obligation by reducing the discount rate by 0.5%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">367<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Pension plans | Growth rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">354<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Pension plans | Growth rate | Present value of the obligation by increasing the rate by 1%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">354<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Pension plans | Growth rate | Present value of the obligation by reducing the rate by 1%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">354<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Health plans | Discount rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">268<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Health plans | Discount rate | Present value of the obligation by increasing the discount rate by 0.5%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">253<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Health plans | Discount rate | Present value of the obligation by reducing the discount rate by 0.5%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">286<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Health plans | Growth rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">268<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Health plans | Growth rate | Present value of the obligation by increasing the rate by 1%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">305<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Health plans | Growth rate | Present value of the obligation by reducing the rate by 1%</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">&#8364; 238<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitObligationAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods. [Refer: Plan assets, at fair value]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 57<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitObligationAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The reasonably possible percentage of the decrease in the actuarial assumption used to determine the present value of defined benefit obligation. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 145<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfReasonablyPossibleDecreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The reasonably possible percentage of the increase in the actuarial assumption used to determine the present value of defined benefit obligation. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 145<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=tef_ForeignDefinedBenefitPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=tef_ForeignDefinedBenefitPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RateHypotheticalAxis=tef_A0.5IncreaseInDiscountRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RateHypotheticalAxis=tef_A0.5IncreaseInDiscountRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RateHypotheticalAxis=tef_A0.5DecreaseInDiscountRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RateHypotheticalAxis=tef_A0.5DecreaseInDiscountRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RateHypotheticalAxis=tef_A1IncreaseInDiscountRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RateHypotheticalAxis=tef_A1IncreaseInDiscountRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RateHypotheticalAxis=tef_A1DecreaseInDiscountRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RateHypotheticalAxis=tef_A1DecreaseInDiscountRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DefinedBenefitPlanTypeAxis=tef_PensionPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DefinedBenefitPlanTypeAxis=tef_PensionPlansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DefinedBenefitPlanTypeAxis=tef_HealthPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DefinedBenefitPlanTypeAxis=tef_HealthPlansMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788346240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions - Individual Suspension Plan (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansLineItems', window );"><strong>Disclosure of defined benefit plans [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionsForEmployeeBenefits', window );">Provisions for employee benefits</a></td>
<td class="nump">&#8364; 4,978<span></span>
</td>
<td class="nump">&#8364; 6,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=tef_IndividualSuspensionPlanMember', window );">Individual Suspension Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansLineItems', window );"><strong>Disclosure of defined benefit plans [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionsForEmployeeBenefits', window );">Provisions for employee benefits</a></td>
<td class="nump">&#8364; 4,150<span></span>
</td>
<td class="nump">&#8364; 5,240<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="nump">3.71%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAverageDurationOfPlan', window );">Average duration of plans</a></td>
<td class="text">3 years 6 months 10 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfDiscountRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The discount rate used as the significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 144<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfDiscountRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDefinedBenefitPlansLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDefinedBenefitPlansLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions for employee benefits. [Refer: Employee benefits expense; Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_WeightedAverageDurationOfPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted Average Duration Of Plan</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_WeightedAverageDurationOfPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=tef_IndividualSuspensionPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=tef_IndividualSuspensionPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>221
<FILENAME>R205.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794211440">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Sensitivity Analysis Used in Individual Suspension Plan (Details) - Individual Suspension Plan - Discount rate<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems', window );"><strong>Disclosure of sensitivity analysis for actuarial assumptions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Impact on value</a></td>
<td class="num">&#8364; (147)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Impact on income statement</a></td>
<td class="num">(147)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Impact on value</a></td>
<td class="nump">138<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInIncomeDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Impact on income statement</a></td>
<td class="nump">&#8364; 138<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a defined benefit obligation that would have been caused by a decrease in a significant actuarial assumption that was reasonably possible at the end of the reporting period. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 145<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a defined benefit obligation that would have been caused by an increase in a significant actuarial assumption that was reasonably possible at the end of the reporting period. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2022-03-24<br> -Paragraph 145<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=19&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease In Income Due To Reasonably Possible Increase In Actuarial Assumption</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DecreaseInIncomeDueToReasonablyPossibleIncreaseInActuarialAssumption</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseInIncomeDueToReasonablyPossibleDecreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase In Income Due To Reasonably Possible Decrease In Actuarial Assumption</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseInIncomeDueToReasonablyPossibleDecreaseInActuarialAssumption</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=tef_IndividualSuspensionPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=tef_IndividualSuspensionPlanMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>222
<FILENAME>R206.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489800067936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions - Movement in Provisions (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at beginning of period</a></td>
<td class="nump">&#8364; 2,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AccretionToProvisionsOtherProvisions', window );">Accretion</a></td>
<td class="num">(160)<span></span>
</td>
<td class="num">&#8364; (39)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at end of period</a></td>
<td class="nump">2,630<span></span>
</td>
<td class="nump">2,128<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Other provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at beginning of period</a></td>
<td class="nump">2,128<span></span>
</td>
<td class="nump">1,894<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">856<span></span>
</td>
<td class="nump">795<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Retirements/amount applied</a></td>
<td class="num">(646)<span></span>
</td>
<td class="num">(600)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions', window );">Transfers</a></td>
<td class="num">(7)<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences and other</a></td>
<td class="nump">73<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Business combinations</a></td>
<td class="nump">226<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at end of period</a></td>
<td class="nump">2,630<span></span>
</td>
<td class="nump">2,128<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForDecommissioningRestorationAndRehabilitationCostsMember', window );">Dismantling of assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at beginning of period</a></td>
<td class="nump">577<span></span>
</td>
<td class="nump">677<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">141<span></span>
</td>
<td class="nump">36<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Retirements/amount applied</a></td>
<td class="num">(41)<span></span>
</td>
<td class="num">(35)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions', window );">Transfers</a></td>
<td class="nump">16<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DecreaseThroughTransferToLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSaleOtherProvisions', window );">Business sale</a></td>
<td class="num">(47)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences and other</a></td>
<td class="num">(5)<span></span>
</td>
<td class="num">(11)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at end of period</a></td>
<td class="nump">&#8364; 528<span></span>
</td>
<td class="nump">&#8364; 577<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in other provisions resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalProvisionsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additional other provisions made. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalProvisionsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DecreaseThroughTransferToLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSaleOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in other provisions resulting from the transfer of those provisions to liabilities included in disposal groups classified as held for sale. [Refer: Other provisions; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DecreaseThroughTransferToLiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSaleOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherProvisionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherProvisionsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from transfers and changes that the entity does not separately disclose in the same statement or note. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionUsedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount used (ie incurred and charged against the provision) for other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionUsedOtherProvisions</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AccretionToProvisionsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accretion To Provisions, Other Provisions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AccretionToProvisionsOtherProvisions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForDecommissioningRestorationAndRehabilitationCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForDecommissioningRestorationAndRehabilitationCostsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784466960">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Provisions by Segment (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">&#8364; 2,630<span></span>
</td>
<td class="nump">&#8364; 2,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForDecommissioningRestorationAndRehabilitationCostsMember', window );">Dismantling of assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">528<span></span>
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<td class="nump">577<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">18<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">323<span></span>
</td>
<td class="nump">396<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,300<span></span>
</td>
<td class="nump">879<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Dismantling of assets | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">71<span></span>
</td>
<td class="nump">60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Dismantling of assets | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">&#8364; 116<span></span>
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<td class="nump">&#8364; 100<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Balances of Provisions (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
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<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">&#8364; 2,630<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=tef_RegulatoryProceedingsProvisionMember', window );">Regulatory proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,049<span></span>
</td>
<td class="nump">R$ 5,845<span></span>
</td>
<td class="nump">719<span></span>
</td>
<td class="nump">R$ 4,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">879<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">446<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">340<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 282<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax proceedings | Federal taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">118<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax proceedings | State taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">133<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax proceedings | Municipal taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax proceedings | FUST</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">98<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Regulatory proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">336<span></span>
</td>
<td class="nump">R$ 1,869<span></span>
</td>
<td class="nump">314<span></span>
</td>
<td class="nump">R$ 1,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Labor claims</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">97<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Civil proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">148<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Amounts to be refunded to customers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Provision for fines for canceling lease agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">&#8364; 99<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxAuthority1Axis=tef_FederalTaxAuthorityMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxAuthority1Axis=tef_StateTaxAuthorityMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxAuthority1Axis=tef_MunicipalTaxAuthorityMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxAuthority1Axis=tef_FUSTFISTELandEBCTaxAuthoritiesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=tef_LaborClaimsProvisionMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RefundsProvisionMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=tef_ContractTerminationMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799643808">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Provisions Narrative (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">&#8364; 2,630<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=tef_RegulatoryProceedingsProvisionMember', window );">Regulatory proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,049<span></span>
</td>
<td class="nump">R$ 5,845<span></span>
</td>
<td class="nump">719<span></span>
</td>
<td class="nump">R$ 4,545<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=tef_CivilProceedingsMember', window );">Civil Proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="nump">391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">335<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">879<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax contingent liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="nump">6,009<span></span>
</td>
<td class="nump">33,473<span></span>
</td>
<td class="nump">4,786<span></span>
</td>
<td class="nump">30,249<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Regulatory proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">336<span></span>
</td>
<td class="nump">R$ 1,869<span></span>
</td>
<td class="nump">314<span></span>
</td>
<td class="nump">R$ 1,986<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Vivo | Goodwill amortized for tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">&#8364; 176<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 77<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherProvisionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherProvisionsLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the estimated financial effect of contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 86<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_86_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EstimatedFinancialEffectOfContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=tef_RegulatoryProceedingsProvisionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=tef_RegulatoryProceedingsProvisionMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=tef_CivilProceedingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=tef_CivilProceedingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_VivoMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=tef_GoodwillAmortizedForTaxProvisionMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807803744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions - Provisions for Tax Proceedings (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at beginning of period</a></td>
<td class="nump">&#8364; 2,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at end of period</a></td>
<td class="nump">2,630<span></span>
</td>
<td class="nump">&#8364; 2,128<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at beginning of period</a></td>
<td class="nump">879<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at end of period</a></td>
<td class="nump">1,300<span></span>
</td>
<td class="nump">879<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at beginning of period</a></td>
<td class="nump">340<span></span>
</td>
<td class="nump">282<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedProvisionReversedOtherProvisions', window );">Movements with a counterparty in the income statement</a></td>
<td class="nump">31<span></span>
</td>
<td class="nump">44<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Write-offs due to payment</a></td>
<td class="num">(6)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Increasedecreasethroughmonetaryupdatingotherprovisions', window );">Monetary updating</a></td>
<td class="nump">37<span></span>
</td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Translation differences</a></td>
<td class="nump">44<span></span>
</td>
<td class="nump">4<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions at end of period</a></td>
<td class="nump">&#8364; 446<span></span>
</td>
<td class="nump">&#8364; 340<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherProvisionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherProvisionsLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount used (ie incurred and charged against the provision) for other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionUsedOtherProvisions</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedProvisionReversedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount reversed for unused other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedProvisionReversedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Increasedecreasethroughmonetaryupdatingotherprovisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (decrease) through monetary updating, other provisions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Increasedecreasethroughmonetaryupdatingotherprovisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</html>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489790850976">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Provisions - Provisions for Judicial Proceedings (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">&#8364; 2,630<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherShorttermProvisions', window );">Current (see Note 15)</a></td>
<td class="nump">720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherLongtermProvisions', window );">Non-current (see Note 12)</a></td>
<td class="nump">1,910<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,715<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=tef_RegulatoryProceedingsProvisionMember', window );">Regulatory proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,049<span></span>
</td>
<td class="nump">R$ 5,845<span></span>
</td>
<td class="nump">719<span></span>
</td>
<td class="nump">R$ 4,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">879<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Tax proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">446<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">340<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 282<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Labor claims</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">97<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Civil proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">148<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Regulatory proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">336<span></span>
</td>
<td class="nump">R$ 1,869<span></span>
</td>
<td class="nump">314<span></span>
</td>
<td class="nump">R$ 1,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Judicial Proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">607<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">448<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherShorttermProvisions', window );">Current (see Note 15)</a></td>
<td class="nump">106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherLongtermProvisions', window );">Non-current (see Note 12)</a></td>
<td class="nump">501<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">431<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Brazil | Judicial Proceedings | Tax proceedings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsLineItems', window );"><strong>Disclosure of other provisions [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">280<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">238<span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489773340464">
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<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="6">12 Months Ended</th>
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<th class="th"><div>Dec. 20, 2022</div></th>
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<div>Oct. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<div>Mar. 31, 2019 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>company </div>
<div>yr</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>PEN (S/)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>company</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$) </div>
<div>company </div>
<div>yr</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>PEN (S/) </div>
<div>company </div>
<div>yr</div>
</th>
<th class="th">
<div>Oct. 24, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>BRL (R$) </div>
<div>company</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfConsolidatedTaxGroupCompanies', window );">Number of consolidated tax group companies | company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47<span></span>
</td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4,884.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,616.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,416.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwardsAndDeductions', window );">Reversal of deferred tax assets for tax loss carryforwards and deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">294.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards', window );">Reversal of deferred tax assets for tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">69.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForDeductions', window );">Reversal of deferred tax assets for deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">112.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">225.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,067.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,602.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,620.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalOfTaxAssetLossCarryforwards', window );">Disposal of tax asset, loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">199.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalOfTaxAssetDeductions', window );">Disposal of tax asset, deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">193.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,825.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentIncomeTaxesPayable', window );">Current income taxes payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">957.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,120.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxEffectOfOtherPermanentDifferences', window );">Permanent differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(793.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,705.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">289.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxEffectFromChangeInTaxRate', window );">Changes in deferred tax charge due to changes in tax rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences', window );">Increase/(decrease) in tax expense arising from temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">84.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">641.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,378.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">626.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxEffectOfImpairmentOfGoodwill', window );">Positive tax effect of impairment of goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,042.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes', window );">Amortized goodwill for tax purposes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">406.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">343.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LossesOnLitigationSettlements', window );">Losses on litigation settlements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,898.0<span></span>
</td>
<td class="nump">R$ 21,712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,032.0<span></span>
</td>
<td class="nump">R$ 19,164<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfYearsInProcessingLawsuitsTaxLitigationInPeru', window );">Number of years in processing lawsuits, tax litigation in Peru | yr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage', window );">Increase legal claim in Peru, tax litigation, (in percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,630.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,128.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentIncomeTaxesPayable', window );">Current income taxes payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">876.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">875.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember', window );">Unused tax deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,884.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember', window );">Unused tax deductions | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">749.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,205.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,610.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,964.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,138.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences | Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">548.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 548<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,011.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,639.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,741.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,067.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,755.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax credits for loss carryforwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">296.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">457.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">999.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">498.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Total unused tax credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">565.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">903.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">457.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">999.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,283.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_DE', window );">Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">810.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,452.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_DE', window );">Germany | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">810.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">778.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">813.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_HispanoamericaMember', window );">Latin America</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">741.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Unused tax losses for which no deferred tax asset recognised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">683.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_HispanoamericaMember', window );">Latin America | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">741.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">861.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">645.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">348.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalOfTaxAsset', window );">Disposal of deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">319.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">240.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember', window );">Tax proceedings | Telef&#243;nica Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Movements with a counterparty in judicial deposits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">138.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">S/ 560<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=tef_DeferredTaxAssetsMember', window );">Deferred Tax Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Deferred tax relating to items credited directly to equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(44.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(196.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences', window );">Increase/(decrease) in tax expense arising from temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">184.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=tef_DeferredTaxLiabilitiesMember', window );">Deferred Tax Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity', window );">Deferred tax relating to items credited directly to equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">238.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences', window );">Increase/(decrease) in tax expense arising from temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">152.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_LitigationCaseAxis=tef_TribunalEconomicoAdministrativoCentralOverpaymentsin20082011Member', window );">Tribunal Economico-Administrativo Central - Overpayments in 2008-2011 | Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">97.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_LitigationCaseAxis=tef_PeruRulingsinJuneandAugust2015Member', window );">Peru - Rulings in June and August 2015 | Tax proceedings | Telef&#243;nica Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">945.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">S/ 3,849<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_LitigationCaseAxis=tef_SupremeCourtOfBrazilICMSTaxMember', window );">Supreme Court of Brazil - ICMS tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxDisputeLongTermIndirectTaxesReceivable', window );">Brazil VAT tax dispute, long-term indirect taxes receivable recorded</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">356.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,269<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxDisputeDecreaseInTaxesOtherThanIncomeTax', window );">Brazil VAT tax dispute, decrease in taxes other than income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">73.0<span></span>
</td>
<td class="nump">397<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">261.0<span></span>
</td>
<td class="nump">1,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxDisputeIncreaseInFinanceIncome', window );">Brazil VAT tax dispute, increase in finance income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">139.0<span></span>
</td>
<td class="nump">749<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">90.0<span></span>
</td>
<td class="nump">573<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxDisputeMonetaryUpdating', window );">Brazil VAT tax dispute, monetary updating</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.0<span></span>
</td>
<td class="nump">R$ 67<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.0<span></span>
</td>
<td class="nump">R$ 36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxDisputeTaxCreditsToRefundPaymentsMade', window );">Brazil VAT tax dispute, credits pending compensation for the refund of payments made</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">141.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">250.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 787<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,579<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_LitigationCaseAxis=tef_TaxGroup2490Member', window );">Tax Group 24/90</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxEffectOfOtherPermanentDifferences', window );">Permanent differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">387.0<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxInspectionAmountOfTaxExpenseToBePaid', window );">Amount of tax expense to be paid</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 387.0<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_LitigationCaseAxis=tef_A20082011InspectionProcedureMember', window );">2008-2011 Inspection Procedure</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxRefundReceivableFromTaxPaid', window );">Tax refund, receivable from tax paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 790.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxRefundInterestReceivableFromTaxPaid', window );">Tax refund, interest receivable from tax paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 526.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards', window );">Reversal of deferred tax assets for tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">512.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForDeductions', window );">Reversal of deferred tax assets for deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">278.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForTaxCredits', window );">Reversal of deferred tax assets for tax credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_LitigationCaseAxis=tef_A20082011InspectionProcedureMember', window );">2008-2011 Inspection Procedure | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">58.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_LitigationCaseAxis=tef_TelecommunicationsLawLaw14195Member', window );">Telecommunications Law, Law 14.195</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxEffectOfOtherPermanentDifferences', window );">Permanent differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(651.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">78.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">221.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxCreditsRecognized', window );">Tax credits recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">221.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppliedTaxLossCarryforwards', window );">Applied tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">86.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">59.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">179.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalOfTaxLiability', window );">Disposal of tax liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">212.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax', window );">Receivables from taxes other than income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">212.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,146<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherPossibleContingentLiabilities', window );">Other possible contingencies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Tax Year 2011 to 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherPossibleContingentLiabilities', window );">Other possible contingencies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,346.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,860.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 29,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 18,078<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxCreditsRecognized', window );">Tax credits recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppliedTaxLossCarryforwards', window );">Applied tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">118.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">110.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisposalOfTaxLiability', window );">Disposal of tax liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Deferred Tax Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Reversalofdeferredtaxassets', window );">Reversal of deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">159.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_Group3GUMTSHoldingMember', window );">Telef&#243;nica Compras Electr&#243;nicas, S.L. Development and provision of information Society services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxCreditsRecognized', window );">Tax credits recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">72.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppliedTaxLossCarryforwards', window );">Applied tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_Group3GUMTSHoldingMember', window );">Telef&#243;nica Compras Electr&#243;nicas, S.L. Development and provision of information Society services | Tax Expense (Income)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedProvisionReversedOtherProvisions', window );">Unused provision reversed, other provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">186.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_Group3GUMTSHoldingMember', window );">Telef&#243;nica Compras Electr&#243;nicas, S.L. Development and provision of information Society services | Finance Income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedProvisionReversedOtherProvisions', window );">Unused provision reversed, other provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">69.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_Group3GUMTSHoldingMember', window );">Telef&#243;nica Compras Electr&#243;nicas, S.L. Development and provision of information Society services | Temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Reversalofdeferredtaxassets', window );">Reversal of deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaColombiaMember', window );">Telefonica Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AppliedTaxLossCarryforwards', window );">Applied tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">119.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">71.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaPeruMember', window );">Telef&#243;nica Peru | Tribunal Economico-Administrativo Central - Overpayments in 2008-2011</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">241.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">97.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_VivoMember', window );">Vivo</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes', window );">Amortized goodwill for tax purposes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaMexicoMember', window );">Telef&#243;nica M&#233;xico | Deferred Tax Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences', window );">Increase/(decrease) in tax expense arising from temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,884.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,616.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards', window );">Reversal of deferred tax assets for tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalOfDeferredTaxAssetsForTaxCredits', window );">Reversal of deferred tax assets for tax credits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">112.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,067.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,602.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense', window );">Unrecorded tax loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">326.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Unused tax deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">565.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">903.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,308.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,074.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,011.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,639.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyAndGroup3GUMTSHoldingGmbHMember', window );">Telefonica Germany And Group 3G UMTS Holding GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxCreditsRecognized', window );">Tax credits recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">152.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_VaubanCAAMember', window );">Vauban/CAA | Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate (in percentage)</a></td>
<td class="nump">45.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,021.0<span></span>
</td>
<td class="nump">R$ 1,021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_ES', window );">Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsfromFavorableTaxAppeal', window );">Proceeds from favorable tax appeal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_ES', window );">Spain | Unused tax deductions | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">458.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_ES', window );">Spain | Temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Reversalofdeferredtaxassets', window );">Reversal of deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">65.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 101.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=srt_SubsidiariesMember', window );">Subsidiaries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">319.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">220.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures', window );">Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 234.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 256.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalProvisionsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of additional other provisions made. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalProvisionsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax related to items credited (charged) directly to equity. [Refer: Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxRelatingToItemsChargedOrCreditedDirectlyToEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GoodwillExpectedDeductibleForTaxPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill in a business combination that is expected to be deductible for tax purposes. [Refer: Goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_k&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GoodwillExpectedDeductibleForTaxPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LossesOnLitigationSettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The losses on settlements of litigation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LossesOnLitigationSettlements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in an associate held by the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of receivables from taxes other than income tax. Income taxes include all domestic and foreign taxes that are based on taxable profits. Income taxes also include taxes, such as withholding taxes, that are payable by a subsidiary, associate or joint arrangement on distributions to the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReceivablesFromTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of benefit arising from a previously unrecognised tax loss, tax credit or temporary difference of a prior period that is used to reduce current tax expense. [Refer: Temporary differences [member]; Unused tax losses [member]; Unused tax credits [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 80<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_80_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectFromChangeInTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to changes in the tax rate. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectFromChangeInTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfImpairmentOfGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount representing the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to impairment of goodwill. [Refer: Accounting profit; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfImpairmentOfGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements, for which deferred tax liabilities have not been recognised as a result of satisfying both of the following conditions: (a) the parent, investor, joint venturer or joint operator is able to control the timing of the reversal of the temporary difference; and (b) it is probable that the temporary difference will not reverse in the foreseeable future. [Refer: Associates [member]; Subsidiaries [member]; Temporary differences [member]; Investments in subsidiaries reported in separate financial statements]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedProvisionReversedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount reversed for unused other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 84<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_84_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedProvisionReversedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax losses for which no deferred tax asset is recognised in the statement of financial position. [Refer: Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AppliedTaxLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Applied Tax Loss Carryforwards</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AppliedTaxLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Income Taxes Payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalOfTaxAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposal Of Tax Asset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalOfTaxAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalOfTaxAssetDeductions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposal Of Tax Asset, Deductions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalOfTaxAssetDeductions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalOfTaxAssetLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposal Of Tax Asset, Loss Carryforwards</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalOfTaxAssetLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisposalOfTaxLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disposal Of Tax Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisposalOfTaxLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Tax Expense Due To Temporary Differences</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseLegalClaimInPeruTaxLitigationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase Legal Claim In Peru, Tax Litigation, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseLegalClaimInPeruTaxLitigationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfConsolidatedTaxGroupCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Consolidated Tax Group Companies</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfConsolidatedTaxGroupCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfYearsInProcessingLawsuitsTaxLitigationInPeru">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Years In Processing Lawsuits, Tax Litigation In Peru</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfYearsInProcessingLawsuitsTaxLitigationInPeru</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_OtherPossibleContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other possible contingent liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherPossibleContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProceedsfromFavorableTaxAppeal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds from Favorable Tax Appeal</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProceedsfromFavorableTaxAppeal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ReversalOfDeferredTaxAssetsForDeductions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reversal Of Deferred Tax Assets For Deductions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ReversalOfDeferredTaxAssetsForDeductions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ReversalOfDeferredTaxAssetsForTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reversal Of Deferred Tax Assets For Tax Credits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ReversalOfDeferredTaxAssetsForTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reversal Of Deferred Tax Assets For Tax Loss Carryforwards</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwardsAndDeductions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reversal Of Deferred Tax Assets For Tax Loss Carryforwards And Deductions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ReversalOfDeferredTaxAssetsForTaxLossCarryforwardsAndDeductions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Reversalofdeferredtaxassets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reversal of deferred tax assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Reversalofdeferredtaxassets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxCreditsRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Credits Recognized</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxCreditsRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxDisputeDecreaseInTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Dispute, Decrease In Taxes Other Than Income Tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxDisputeDecreaseInTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxDisputeIncreaseInFinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Dispute, Increase In Finance Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxDisputeIncreaseInFinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxDisputeLongTermIndirectTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Dispute, Long-Term Indirect Taxes Receivable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxDisputeLongTermIndirectTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxDisputeMonetaryUpdating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Dispute, Monetary Updating</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxDisputeMonetaryUpdating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxDisputeTaxCreditsToRefundPaymentsMade">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Dispute, Tax Credits To Refund Payments Made</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxDisputeTaxCreditsToRefundPaymentsMade</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxEffectOfOtherPermanentDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Effect Of Other Permanent Differences</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxEffectOfOtherPermanentDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxInspectionAmountOfTaxExpenseToBePaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Inspection, Amount Of Tax Expense To Be Paid</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxInspectionAmountOfTaxExpenseToBePaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxRefundInterestReceivableFromTaxPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Refund, Interest Receivable From Tax Paid</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxRefundInterestReceivableFromTaxPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxRefundReceivableFromTaxPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Refund, Receivable From Tax Paid</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxRefundReceivableFromTaxPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_TotalUnusedTaxCreditsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_TotalUnusedTaxCreditsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_DE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_DE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=tef_HispanoamericaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=tef_HispanoamericaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaPeruMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaPeruMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAndLiabilitiesAxis=tef_DeferredTaxAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAndLiabilitiesAxis=tef_DeferredTaxAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAndLiabilitiesAxis=tef_DeferredTaxLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAndLiabilitiesAxis=tef_DeferredTaxLiabilitiesMember</td>
</tr>
<tr>
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<SEQUENCE>229
<FILENAME>R213.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807322960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Tax Matters - Deferred Taxes Movement (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DeferredTaxAssetAbstract', window );"><strong>Deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">&#8364; 5,616<span></span>
</td>
<td class="nump">&#8364; 6,416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxAsset', window );">Additions</a></td>
<td class="nump">1,080<span></span>
</td>
<td class="nump">952<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset', window );">Disposals</a></td>
<td class="num">(1,877)<span></span>
</td>
<td class="num">(1,697)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxAsset', window );">Transfers</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesDeferredTaxAsset', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">42<span></span>
</td>
<td class="num">(36)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInCompanyMovementsDeferredTaxAsset', window );">Company movements and others</a></td>
<td class="nump">2<span></span>
</td>
<td class="num">(21)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DeferredTaxLiabilitiesAbstract', window );"><strong>Deferred tax liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Beginning balance, deferred tax liabilities</a></td>
<td class="nump">2,602<span></span>
</td>
<td class="nump">2,620<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiability', window );">Additions</a></td>
<td class="nump">685<span></span>
</td>
<td class="nump">499<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiability', window );">Disposals</a></td>
<td class="num">(400)<span></span>
</td>
<td class="num">(472)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiability', window );">Transfers</a></td>
<td class="num">(30)<span></span>
</td>
<td class="num">(60)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughTranslationDifferencesDeferredTaxLiability', window );">Translation differences and hyperinflation adjustments</a></td>
<td class="nump">184<span></span>
</td>
<td class="nump">42<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInCompanyMovementsDeferredTaxLiability', window );">Company movements and others</a></td>
<td class="nump">26<span></span>
</td>
<td class="num">(27)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Ending balance, deferred tax liabilities</a></td>
<td class="nump">&#8364; 3,067<span></span>
</td>
<td class="nump">&#8364; 2,602<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DeferredTaxAssetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred Tax Asset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DeferredTaxAssetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DeferredTaxLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred Tax Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DeferredTaxLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInCompanyMovementsDeferredTaxAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Company Movements, Deferred Tax Asset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInCompanyMovementsDeferredTaxAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInCompanyMovementsDeferredTaxLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Company Movements, Deferred Tax Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInCompanyMovementsDeferredTaxLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Business Combinations, Deferred Tax Asset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Business Combinations, Deferred Tax Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Loss Of Control Of Subsidiary, Deferred Tax Asset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Loss Of Control Of Subsidiary, Deferred Tax Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Net Exchange Differences, Deferred Tax Asset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxAsset</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Net Exchange Differences, Deferred Tax Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiability</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Translation Differences, Deferred Tax Asset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTranslationDifferencesDeferredTaxAsset</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Translation Differences, Deferred Tax Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughTranslationDifferencesDeferredTaxLiability</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781846736">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Tax Matters - Expected Realization of Deferred Tax Assets and Liabilities (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">&#8364; 4,884<span></span>
</td>
<td class="nump">&#8364; 5,616<span></span>
</td>
<td class="nump">&#8364; 6,416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="nump">2,602<span></span>
</td>
<td class="nump">2,620<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember', window );">Unused tax deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember', window );">Unused tax deductions | Less than 1 year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">749<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember', window );">Unused tax deductions | More than 1 year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,135<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">2,011<span></span>
</td>
<td class="nump">&#8364; 2,639<span></span>
</td>
<td class="nump">&#8364; 2,741<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax credits for loss carryforwards | Less than 1 year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">296<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax credits for loss carryforwards | More than 1 year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">&#8364; 2,771<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799760064">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Tax Matters - Deferred Tax Assets (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">&#8364; 4,884<span></span>
</td>
<td class="nump">&#8364; 5,616<span></span>
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<td class="nump">&#8364; 6,416<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">2,011<span></span>
</td>
<td class="nump">2,639<span></span>
</td>
<td class="nump">&#8364; 2,741<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxCreditsMember', window );">Unused tax deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Deferred tax assets for temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">5,205<span></span>
</td>
<td class="nump">4,610<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">2,011<span></span>
</td>
<td class="nump">2,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Unused tax deductions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">565<span></span>
</td>
<td class="nump">903<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Deferred tax assets for temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">&#8364; 2,308<span></span>
</td>
<td class="nump">&#8364; 2,074<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807058528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Tax Matters - Tax Credits for Loss Carry-Forwards (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">&#8364; 5,616<span></span>
</td>
<td class="nump">&#8364; 6,416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">3,825<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">2,639<span></span>
</td>
<td class="nump">2,741<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Additions</a></td>
<td class="nump">278<span></span>
</td>
<td class="nump">435<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiabilityAsset', window );">Reversals</a></td>
<td class="num">(939)<span></span>
</td>
<td class="num">(508)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughInclusionOfCompaniesDeferredTaxLiabilityAsset', window );">Perimeter changes</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences and other</a></td>
<td class="nump">32<span></span>
</td>
<td class="num">(31)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">2,011<span></span>
</td>
<td class="nump">2,639<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">1,755<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">457<span></span>
</td>
<td class="nump">999<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">498<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">999<span></span>
</td>
<td class="nump">1,283<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Additions</a></td>
<td class="nump">58<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiabilityAsset', window );">Reversals</a></td>
<td class="num">(600)<span></span>
</td>
<td class="num">(283)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughInclusionOfCompaniesDeferredTaxLiabilityAsset', window );">Perimeter changes</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences and other</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">457<span></span>
</td>
<td class="nump">999<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_DE', window );">Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">5,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_DE', window );">Germany | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">778<span></span>
</td>
<td class="nump">813<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Additions</a></td>
<td class="nump">153<span></span>
</td>
<td class="nump">150<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiabilityAsset', window );">Reversals</a></td>
<td class="num">(122)<span></span>
</td>
<td class="num">(184)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughInclusionOfCompaniesDeferredTaxLiabilityAsset', window );">Perimeter changes</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences and other</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">810<span></span>
</td>
<td class="nump">778<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_HispanoamericaMember', window );">Latin America</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">683<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_HispanoamericaMember', window );">Latin America | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">861<span></span>
</td>
<td class="nump">645<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Additions</a></td>
<td class="nump">64<span></span>
</td>
<td class="nump">285<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiabilityAsset', window );">Reversals</a></td>
<td class="num">(216)<span></span>
</td>
<td class="num">(41)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughInclusionOfCompaniesDeferredTaxLiabilityAsset', window );">Perimeter changes</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences and other</a></td>
<td class="nump">32<span></span>
</td>
<td class="num">(28)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">741<span></span>
</td>
<td class="nump">861<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Other | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Beginning balance, deferred tax assets</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset', window );">Additions</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiabilityAsset', window );">Reversals</a></td>
<td class="num">(1)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseThroughInclusionOfCompaniesDeferredTaxLiabilityAsset', window );">Perimeter changes</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset', window );">Translation differences and other</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Ending balance, deferred tax assets</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">&#8364; 1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">2,070<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year | Telef&#243;nica Spain | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember', window );">More than 1 year | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">1,755<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember', window );">More than 1 year | Telef&#243;nica Spain | Tax credits for loss carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised', window );">Tax loss carryforwards generated in the tax group</a></td>
<td class="nump">&#8364; 1,927<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in deferred tax liability (asset) resulting from business combinations. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughBusinessCombinationsDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The decrease in deferred tax liability (asset) resulting from the loss of control of a subsidiary. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughLossOfControlOfSubsidiaryDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in deferred tax liability (asset) resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Deferred tax liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesDeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax losses for which no deferred tax asset is recognised in the statement of financial position. [Refer: Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedTaxLossesForWhichNoDeferredTaxAssetRecognised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseThroughInclusionOfCompaniesDeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) Through Inclusion Of Companies, Deferred Tax Liability (Asset)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseThroughInclusionOfCompaniesDeferredTaxLiabilityAsset</td>
</tr>
<tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489786352784">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Tax Matters - Temporary Differences (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">&#8364; 4,884<span></span>
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<td class="nump">&#8364; 5,616<span></span>
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<td class="nump">&#8364; 6,416<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DeferredTaxLiabilitiesAssetsOffset', window );">Deferred tax assets and liabilities offset</a></td>
<td class="num">(2,897)<span></span>
</td>
<td class="num">(2,536)<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="nump">2,602<span></span>
</td>
<td class="nump">&#8364; 2,620<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_GoodwillAndIntangibleAssetsMember', window );">Goodwill and intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">828<span></span>
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<td class="nump">244<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">1,970<span></span>
</td>
<td class="nump">1,712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember', window );">Property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">473<span></span>
</td>
<td class="nump">350<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">1,282<span></span>
</td>
<td class="nump">1,204<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_PersonnelCommitmentsMember', window );">Personnel commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">1,278<span></span>
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<td class="nump">1,577<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">12<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_ProvisionsMember', window );">Provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">935<span></span>
</td>
<td class="nump">817<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">447<span></span>
</td>
<td class="nump">403<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_EquityInvestmentsMember', window );">Investments in subsidiaries, associates and other shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">374<span></span>
</td>
<td class="nump">278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_InventoriesAndReceivablesMember', window );">Inventories and receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">324<span></span>
</td>
<td class="nump">308<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_RightofuseAssetsMember', window );">Rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">51<span></span>
</td>
<td class="nump">59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">1,046<span></span>
</td>
<td class="nump">1,093<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_LeaseLiabilitiesMember', window );">Lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">1,049<span></span>
</td>
<td class="nump">1,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_OtherTemporaryDifferencesMember', window );">Other concepts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">267<span></span>
</td>
<td class="nump">187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">833<span></span>
</td>
<td class="nump">431<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Total deferred tax assets/ liabilities for temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">5,205<span></span>
</td>
<td class="nump">4,610<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">5,964<span></span>
</td>
<td class="nump">5,138<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_TotalTemporaryDifferenceMember', window );">Total temporary difference</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems', window );"><strong>Disclosure of temporary difference, unused tax losses and unused tax credits [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">2,308<span></span>
</td>
<td class="nump">2,074<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">&#8364; 3,067<span></span>
</td>
<td class="nump">&#8364; 2,602<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DeferredTaxLiabilitiesAssetsOffset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred Tax Liabilities (Assets) Offset</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DeferredTaxLiabilitiesAssetsOffset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_GoodwillAndIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_GoodwillAndIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_PersonnelCommitmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_PersonnelCommitmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_ProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_ProvisionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_EquityInvestmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_EquityInvestmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_InventoriesAndReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=tef_InventoriesAndReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788530672">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Tax Matters - Tax Payables and Receivables (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeTaxesAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentTaxWithholdings', window );">Tax withholdings</a></td>
<td class="nump">&#8364; 96<span></span>
</td>
<td class="nump">&#8364; 98<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentIndirectTaxesPayable', window );">Indirect taxes</a></td>
<td class="nump">390<span></span>
</td>
<td class="nump">476<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax', window );">Social security</a></td>
<td class="nump">114<span></span>
</td>
<td class="nump">163<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentIncomeTaxesPayable', window );">Current income taxes payable</a></td>
<td class="nump">957<span></span>
</td>
<td class="nump">1,120<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherTaxesPayable', window );">Other</a></td>
<td class="nump">363<span></span>
</td>
<td class="nump">169<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Total</a></td>
<td class="nump">1,920<span></span>
</td>
<td class="nump">2,026<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentIndirectTaxesReceivable', window );">Indirect taxes</a></td>
<td class="nump">569<span></span>
</td>
<td class="nump">705<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CurrentIncomeTaxesReceivable', window );">Current income taxes receivable</a></td>
<td class="nump">1,549<span></span>
</td>
<td class="nump">1,310<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_OtherTaxesReceivable', window );">Other</a></td>
<td class="nump">95<span></span>
</td>
<td class="nump">105<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Total</a></td>
<td class="nump">&#8364; 2,213<span></span>
</td>
<td class="nump">&#8364; 2,120<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables on social security and taxes other than incomes tax. [Refer: Payables on social security and taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph n<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph n<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Income Taxes Payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentIncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Income Taxes Receivable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentIncomeTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentIndirectTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Indirect Taxes Payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentIndirectTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentIndirectTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Indirect Taxes Receivable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentIndirectTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CurrentTaxWithholdings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Current Tax Withholdings</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CurrentTaxWithholdings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Taxes [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Taxes Payable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherTaxesPayable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Taxes Receivable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_OtherTaxesReceivable</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807315072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Tax Matters - Reconciliation of Profit (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeTaxesAbstract', window );"><strong>Income Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AccountingProfit', window );">Accounting profit before tax</a></td>
<td class="nump">&#8364; 2,960<span></span>
</td>
<td class="nump">&#8364; 12,095<span></span>
</td>
<td class="nump">&#8364; 2,583<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate', window );">Tax expense at prevailing statutory rate</a></td>
<td class="nump">797<span></span>
</td>
<td class="nump">2,768<span></span>
</td>
<td class="nump">532<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TaxEffectOfOtherPermanentDifferences', window );">Permanent differences</a></td>
<td class="num">(793)<span></span>
</td>
<td class="num">(1,705)<span></span>
</td>
<td class="nump">289<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxEffectFromChangeInTaxRate', window );">Changes in deferred tax charge due to changes in tax rates</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">51<span></span>
</td>
<td class="nump">14<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief', window );">(Capitalization)/reversal of tax deduction and tax relief</a></td>
<td class="nump">88<span></span>
</td>
<td class="nump">225<span></span>
</td>
<td class="num">(103)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReversalCapitalizationOfLossCarryforwards', window );">(Capitalization)/reversal of loss carryforwards</a></td>
<td class="nump">197<span></span>
</td>
<td class="num">(307)<span></span>
</td>
<td class="num">(88)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences', window );">Increase/(decrease) in tax expense arising from temporary differences</a></td>
<td class="nump">43<span></span>
</td>
<td class="nump">84<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome', window );">Other concepts</a></td>
<td class="nump">308<span></span>
</td>
<td class="nump">262<span></span>
</td>
<td class="num">(10)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncome', window );">Current tax expense</a></td>
<td class="num">(218)<span></span>
</td>
<td class="nump">831<span></span>
</td>
<td class="nump">462<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncome', window );">Deferred tax expense</a></td>
<td class="nump">859<span></span>
</td>
<td class="nump">547<span></span>
</td>
<td class="nump">164<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Corporate income tax</a></td>
<td class="nump">&#8364; 641<span></span>
</td>
<td class="nump">&#8364; 1,378<span></span>
</td>
<td class="nump">&#8364; 626<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccountingProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) for a period before deducting tax expense. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccountingProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 80<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_80_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 79<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that the entity does not separately disclose in the same statement or note. [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectFromChangeInTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to changes in the tax rate. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectFromChangeInTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The product of the accounting profit multiplied by the applicable tax rate(s). [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseIncomeAtApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncomeTaxesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Income Taxes [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeTaxesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Tax Expense Due To Temporary Differences</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInTaxExpenseDueToTemporaryDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ReversalCapitalizationOfLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reversal (Capitalization) Of Loss Carryforwards</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ReversalCapitalizationOfLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Reversal (Capitalization) Of Tax Deduction And Tax Relief</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ReversalCapitalizationOfTaxDeductionAndTaxRelief</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TaxEffectOfOtherPermanentDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tax Effect Of Other Permanent Differences</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TaxEffectOfOtherPermanentDifferences</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799769216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Revenues (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AnalysisOfIncomeAndExpenseAbstract', window );"><strong>Analysis of income and expense [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromRenderingOfServices', window );">Rendering of services</a></td>
<td class="nump">&#8364; 34,854<span></span>
</td>
<td class="nump">&#8364; 34,117<span></span>
</td>
<td class="nump">&#8364; 37,394<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherRevenue', window );">Sales</a></td>
<td class="nump">5,139<span></span>
</td>
<td class="nump">5,160<span></span>
</td>
<td class="nump">5,682<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Total</a></td>
<td class="nump">&#8364; 39,993<span></span>
</td>
<td class="nump">&#8364; 39,277<span></span>
</td>
<td class="nump">&#8364; 43,076<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AnalysisOfIncomeAndExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AnalysisOfIncomeAndExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 34<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 33<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_33_b_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 82<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 10: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromRenderingOfServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the rendering of services. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromRenderingOfServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<FILENAME>R221.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788056048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Other Income (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2021</div></th>
<th class="th"><div>Jul. 01, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncomeFromCapitalizationOfOwnWork', window );">Own work capitalized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 783<span></span>
</td>
<td class="nump">&#8364; 771<span></span>
</td>
<td class="nump">&#8364; 873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfInvestments', window );">Gain on disposal of businesses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">205<span></span>
</td>
<td class="nump">11,008<span></span>
</td>
<td class="nump">67<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment', window );">Gain on disposal of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">582<span></span>
</td>
<td class="nump">478<span></span>
</td>
<td class="nump">270<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfOtherNoncurrentAssets', window );">Gain on disposal of intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RevenueFromGovernmentGrants', window );">Government grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="nump">13<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">478<span></span>
</td>
<td class="nump">396<span></span>
</td>
<td class="nump">354<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,065<span></span>
</td>
<td class="nump">12,673<span></span>
</td>
<td class="nump">1,587<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions', window );">Capital gains arising from sale and leaseback transactions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">381<span></span>
</td>
<td class="nump">263<span></span>
</td>
<td class="nump">&#8364; 79<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_OpalJvcoLimitedMember', window );">Opal Jvco Limited (nexfibre)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CapitalGainLoss', window );">Capital gain (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income</a></td>
<td class="num">&#8364; (4,773)<span></span>
</td>
<td class="num">(7,754)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Total</a></td>
<td class="nump">&#8364; 290<span></span>
</td>
<td class="nump">551<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CapitalGainLoss', window );">Capital gain (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersMember', window );">Telxius Towers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CapitalGainLoss', window );">Capital gain (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesCostaRicaMember', window );">Telefonica Moviles Costa Rica</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CapitalGainLoss', window );">Capital gain (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaColombiaMember', window );">Telefonica Colombia | KKR Alameda Aggregator L.P. | Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment', window );">Gains (losses) on disposals of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 162<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaChileS.A.Member', window );">Telef&#243;nica Chile, S.A. | KKR Alameda Aggregator L.P. | InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CapitalGainLoss', window );">Capital gain (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 274<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) arising from sale and leaseback transactions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesArisingFromSaleAndLeasebackTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnDisposalsOfOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on disposals of other non-current assets. [Refer: Other non-current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnDisposalsOfOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on disposals of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnDisposalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsOnDisposalsOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 98<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=26&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35_b_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 103<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromGovernmentGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognised in relation to government grants. [Refer: Government grants]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 20<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=20&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromGovernmentGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CapitalGainLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capital Gain (Loss)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CapitalGainLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ContinuingAndDiscontinuedOperationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Continuing And Discontinued Operations [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ContinuingAndDiscontinuedOperationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncomeFromCapitalizationOfOwnWork">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capitalization Of Own Work</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncomeFromCapitalizationOfOwnWork</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfVotingEquityTransferedAsConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Voting Equity Transfered As Consideration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfVotingEquityTransferedAsConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_OpalJvcoLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_OpalJvcoLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersMember">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesCostaRicaMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_KKRAlamedaAggregatorLPMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489806802720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Other Expenses (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RentalExpense', window );">Leases included in Other expenses</a></td>
<td class="nump">&#8364; 86<span></span>
</td>
<td class="nump">&#8364; 80<span></span>
</td>
<td class="nump">&#8364; 89<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ServicesExpense', window );">Other external services</a></td>
<td class="nump">8,731<span></span>
</td>
<td class="nump">8,604<span></span>
</td>
<td class="nump">9,617<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense', window );">Taxes other than income tax</a></td>
<td class="nump">834<span></span>
</td>
<td class="nump">703<span></span>
</td>
<td class="nump">902<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables', window );">Change in trade provisions</a></td>
<td class="nump">693<span></span>
</td>
<td class="nump">660<span></span>
</td>
<td class="nump">860<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets', window );">Losses on disposal of fixed assets and changes in provisions for fixed assets</a></td>
<td class="nump">124<span></span>
</td>
<td class="nump">51<span></span>
</td>
<td class="nump">416<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill', window );">Goodwill impairment (Note 7)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">416<span></span>
</td>
<td class="nump">519<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MiscellaneousOtherOperatingExpense', window );">Other operating expenses</a></td>
<td class="nump">273<span></span>
</td>
<td class="nump">462<span></span>
</td>
<td class="nump">468<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherExpenseByNature', window );">Total</a></td>
<td class="nump">10,741<span></span>
</td>
<td class="nump">10,976<span></span>
</td>
<td class="nump">12,871<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities', window );">Reduction to tax expense due to decisions with tax authorities</a></td>
<td class="nump">73<span></span>
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<td class="nump">&#8364; 261<span></span>
</td>
<td class="nump">75<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaArgentinaMember', window );">Telef&#243;nica Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets', window );">Losses on disposal of fixed assets and changes in provisions for fixed assets</a></td>
<td class="nump">&#8364; 77<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 375<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for goodwill. [Refer: Impairment loss recognised in profit or loss; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -Clause v<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d_v&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss or reversal of impairment loss recognised in profit or loss for trade receivables. [Refer: Impairment loss recognised in profit or loss; Reversal of impairment loss recognised in profit or loss; Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivables</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of miscellaneous other operating expenses. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'nature of expense' form for its analysis of expenses. [Refer: Expenses, by nature]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByNature</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RentalExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognised on rental activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense exclusive of income tax expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 85<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseOtherThanIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase (Decrease) In Tax Expense Due To Decisions With Tax Authorities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loss On Disposal Of Fixed Assets And Changes In Provisions For Fixed Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaArgentinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaArgentinaMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799008880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Estimated Payment Schedule (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Undiscountedoperatingleasepaymentstobepaid', window );">Undiscounted operating lease payments to be paid</a></td>
<td class="nump">&#8364; 12,285<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PurchaseAndOtherContractualObligations', window );">Purchase and other contractual obligations</a></td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpectedFutureMinimumLeasePaymentsReceivableUnderNonCancellableSubleasesClassifiedAsOperatingLeaseAtPresentValue', window );">Operating lease obligations, at present value</a></td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=tef_TelefonicaSpainAndGermanyMember', window );">Telefonica Spain And Germany</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_LongTermPurchaseCommitmentAmount', window );">Purchase commitment amount</a></td>
<td class="nump">850<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Less than 1 year</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Undiscountedoperatingleasepaymentstobepaid', window );">Undiscounted operating lease payments to be paid</a></td>
<td class="nump">3,991<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember', window );">1 to 3 years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Undiscountedoperatingleasepaymentstobepaid', window );">Undiscounted operating lease payments to be paid</a></td>
<td class="nump">4,269<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember', window );">3 to 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Undiscountedoperatingleasepaymentstobepaid', window );">Undiscounted operating lease payments to be paid</a></td>
<td class="nump">2,281<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems', window );"><strong>Disclosure of finance lease and operating lease by lessee [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Undiscountedoperatingleasepaymentstobepaid', window );">Undiscounted operating lease payments to be paid</a></td>
<td class="nump">&#8364; 1,744<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Disclosure of finance lease and operating lease by lessee [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DisclosureoffinanceleaseandoperatingleasebylesseeLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExpectedFutureMinimumLeasePaymentsReceivableUnderNonCancellableSubleasesClassifiedAsOperatingLeaseAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expected Future Minimum Sublease Payments Receivable Under Non-Cancellable Subleases, Classified As Operating Lease, At Present Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExpectedFutureMinimumLeasePaymentsReceivableUnderNonCancellableSubleasesClassifiedAsOperatingLeaseAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_LongTermPurchaseCommitmentAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long Term Purchase Commitment Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_LongTermPurchaseCommitmentAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PurchaseAndOtherContractualObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Purchase And Other Contractual Obligations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PurchaseAndOtherContractualObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
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<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Undiscountedoperatingleasepaymentstobepaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Undiscounted operating lease payments to be paid</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Undiscountedoperatingleasepaymentstobepaid</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=tef_TelefonicaSpainAndGermanyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<FILENAME>R224.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489771146576">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Headcount (Details) - employee<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">102,563<span></span>
</td>
<td class="nump">107,776<span></span>
</td>
<td class="nump">113,182<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Employees at year-end</a></td>
<td class="nump">103,651<span></span>
</td>
<td class="nump">104,150<span></span>
</td>
<td class="nump">112,797<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfFemaleEmployees', window );">Percentage of female employees</a></td>
<td class="nump">39.00%<span></span>
</td>
<td class="nump">38.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_TelefonicaTechUKLimitedMember', window );">Telefonica Tech UK Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">609<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember', window );">Incremental</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">330<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember', window );">BE-terna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">954<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember', window );">Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfEmployeesWithDisabilities', window );">Number of employees with disabilities</a></td>
<td class="nump">1,482<span></span>
</td>
<td class="nump">1,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">21,099<span></span>
</td>
<td class="nump">22,872<span></span>
</td>
<td class="nump">22,992<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Employees at year-end</a></td>
<td class="nump">20,947<span></span>
</td>
<td class="nump">22,976<span></span>
</td>
<td class="nump">22,978<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfEmployeesWithDisabilities', window );">Number of employees with disabilities</a></td>
<td class="nump">314<span></span>
</td>
<td class="nump">267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,884<span></span>
</td>
<td class="nump">6,501<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Employees at year-end</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,318<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaGermanyMember', window );">Telef&#243;nica Germany | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">7,029<span></span>
</td>
<td class="nump">7,375<span></span>
</td>
<td class="nump">7,770<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Employees at year-end</a></td>
<td class="nump">7,099<span></span>
</td>
<td class="nump">7,056<span></span>
</td>
<td class="nump">7,701<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">34,275<span></span>
</td>
<td class="nump">33,987<span></span>
</td>
<td class="nump">33,938<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Employees at year-end</a></td>
<td class="nump">34,846<span></span>
</td>
<td class="nump">34,343<span></span>
</td>
<td class="nump">33,828<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefnicaHispamMember', window );">Telef&#243;nica Hispam | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">30,232<span></span>
</td>
<td class="nump">31,806<span></span>
</td>
<td class="nump">33,872<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Employees at year-end</a></td>
<td class="nump">29,994<span></span>
</td>
<td class="nump">30,717<span></span>
</td>
<td class="nump">33,506<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=ifrs-full_AllOtherSegmentsMember', window );">Other companies | Operating segments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsLineItems', window );"><strong>Disclosure of operating segments [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageNumberOfEmployees', window );">Average employees over year</a></td>
<td class="nump">9,928<span></span>
</td>
<td class="nump">8,852<span></span>
</td>
<td class="nump">8,109<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfEmployees', window );">Employees at year-end</a></td>
<td class="nump">10,765<span></span>
</td>
<td class="nump">9,058<span></span>
</td>
<td class="nump">8,466<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average number of personnel employed by the entity during a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageNumberOfEmployees</td>
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<td>na</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOperatingSegmentsLineItems</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of personnel employed by the entity at a date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfEmployees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Employees With Disabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfEmployeesWithDisabilities</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Female Employees</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfFemaleEmployees</td>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_TelefonicaTechUKLimitedMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember</td>
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<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489880601728">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Depreciation and Amortization (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AnalysisOfIncomeAndExpenseAbstract', window );"><strong>Analysis of income and expense [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Property, plant and equipment (Note 8)</a></td>
<td class="nump">&#8364; 4,133<span></span>
</td>
<td class="nump">&#8364; 4,360<span></span>
</td>
<td class="nump">&#8364; 5,022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Intangible assets (Note 6)</a></td>
<td class="nump">2,599<span></span>
</td>
<td class="nump">2,388<span></span>
</td>
<td class="nump">2,735<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationRightofuseAssets', window );">Rights of use (Note 9)</a></td>
<td class="nump">2,064<span></span>
</td>
<td class="nump">1,649<span></span>
</td>
<td class="nump">1,602<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Total</a></td>
<td class="nump">&#8364; 8,796<span></span>
</td>
<td class="nump">&#8364; 8,397<span></span>
</td>
<td class="nump">&#8364; 9,359<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation of intangible assets other than goodwill. [Refer: Depreciation and amortisation expense; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vi<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e_vi&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AnalysisOfIncomeAndExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AnalysisOfIncomeAndExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 28<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 23<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 102<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 99<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 104<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationRightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of right-of-use assets. [Refer: Depreciation and amortisation expense; Right-of-use assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationRightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807290608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Data Used for Calculation of Basic and Diluted Earnings Per Share (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityAbstract', window );"><strong>Profit attributable to ordinary equity holders of parent</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity', window );">Profit attributable to ordinary equity holders of the parent company</a></td>
<td class="nump">&#8364; 2,011<span></span>
</td>
<td class="nump">&#8364; 8,137<span></span>
</td>
<td class="nump">&#8364; 1,582<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AdjustmentForTheNetCouponCorrespondingToUndatedDeeplySubordinatedSecurities', window );">Adjustment for the coupon corresponding to perpetual subordinated obligations</a></td>
<td class="num">(279)<span></span>
</td>
<td class="num">(337)<span></span>
</td>
<td class="num">(334)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparententityincludingdilutiveeffectstaxeffect', window );">Tax effect</a></td>
<td class="nump">70<span></span>
</td>
<td class="nump">84<span></span>
</td>
<td class="nump">84<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects', window );">Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share</a></td>
<td class="nump">&#8364; 1,802<span></span>
</td>
<td class="nump">&#8364; 7,884<span></span>
</td>
<td class="nump">&#8364; 1,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageSharesAndAdjustedWeightedAverageSharesAbstract', window );"><strong>Number of shares (thousands)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share (in shares)</a></td>
<td class="nump">5,740,105,000<span></span>
</td>
<td class="nump">5,864,070,000<span></span>
</td>
<td class="nump">5,952,695,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares', window );">Telef&#243;nica, S.A. share option plans (in shares)</a></td>
<td class="nump">23,096,000<span></span>
</td>
<td class="nump">10,098,000<span></span>
</td>
<td class="nump">6,590,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AdjustedWeightedAverageShares', window );">Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares) (in shares)</a></td>
<td class="nump">5,763,201,000<span></span>
</td>
<td class="nump">5,874,168,000<span></span>
</td>
<td class="nump">5,959,285,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustedWeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average number of ordinary shares outstanding 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. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustedWeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of dilutive potential ordinary shares that relate to the assumed exercise of the entity's share options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntityAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations attributable to ordinary equity holders of the parent entity. [Refer: Continuing operations [member]; Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations attributable to ordinary equity holders of the parent entity, adjusted for the effects of all dilutive potential ordinary shares. [Refer: Profit (loss) from continuing operations]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromContinuingOperationsAttributableToOrdinaryEquityHoldersOfParentEntityIncludingDilutiveEffects</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 70<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageSharesAndAdjustedWeightedAverageSharesAbstract</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AdjustmentForTheNetCouponCorrespondingToUndatedDeeplySubordinatedSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustment For The Net Coupon Corresponding To Undated Deeply Subordinated Securities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AdjustmentForTheNetCouponCorrespondingToUndatedDeeplySubordinatedSecurities</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparententityincludingdilutiveeffectstaxeffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Profit (loss) from continuing operations attributable to ordinary equity holders of parent entity including dilutive effects, tax effect</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Profitlossfromcontinuingoperationsattributabletoordinaryequityholdersofparententityincludingdilutiveeffectstaxeffect</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489798968928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue and Expenses - Earnings Per Share (Details) - &#8364; / shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic earnings per share (in euros per share)</a></td>
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<td class="nump">&#8364; 1.34<span></span>
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<td class="nump">&#8364; 0.22<span></span>
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<td class="nump">&#8364; 0.31<span></span>
</td>
<td class="nump">&#8364; 1.34<span></span>
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<td class="nump">&#8364; 0.22<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AnalysisOfIncomeAndExpenseAbstract</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2022-03-24<br> -Paragraph 67<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=33&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_67&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
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<td>duration</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489766594384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment Plans - Narrative (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="5">12 Months Ended</th>
<th class="th" colspan="2">36 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Apr. 23, 2021 </div>
<div>shares </div>
<div>cycle</div>
</th>
<th class="th">
<div>Mar. 17, 2021 </div>
<div>cycle</div>
</th>
<th class="th">
<div>Jan. 01, 2020 </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Jan. 01, 2019 </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Jun. 08, 2018 </div>
<div>EUR (&#8364;) </div>
<div>cycle</div>
</th>
<th class="th">
<div>Jan. 01, 2018 </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>shares </div>
<div>employee </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>shares</div>
</th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>shares</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedPaymentArrangementTrancheAxis=tef_FCFObjectiveMember', window );">FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20182022Member', window );">Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective', window );">Delivery percent (fulfillment of TSR objective, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration', window );">Delivery percent (free cash flow generation, maximum compliance, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20212025Member', window );">Performance Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective', window );">Delivery percent (fulfillment of TSR objective, in percentage)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration', window );">Delivery percent (free cash flow generation, maximum compliance, in percentage)</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1', window );">Award vesting period</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases', window );">Number of independent cycles | cycle</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodInForceOfEachPhases', window );">Period in force of each cycle</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization', window );">Delivery percent (free cash flow generation, maximum compliance)</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_TalentfortheFutureSharePlan20182022Member', window );">Talent for the Future Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective', window );">Delivery percent (fulfillment of TSR objective, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration', window );">Delivery percent (free cash flow generation, maximum compliance, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1', window );">Award vesting period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases', window );">Number of independent cycles | cycle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_TalentForTheFutureSharePlan20212025Member', window );">Talent for the Future Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective', window );">Delivery percent (fulfillment of TSR objective, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration', window );">Delivery percent (free cash flow generation, maximum compliance, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1', window );">Award vesting period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases', window );">Number of independent cycles | cycle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization', window );">Delivery percent (free cash flow generation, maximum compliance)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_GlobalEmployeeSharePlanMember', window );">Global Employee Share Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase', window );">Maximum amount of shares an employee is allowed to purchase | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAnEmployeeIsAllowedToPurchaseOfShareCapitalPercentage', window );">Maximum number of shares an employee is allowed to purchase (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.38%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered', window );">Number of employees registered | employee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1', window );">Award vesting period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases', window );">Number of independent cycles | cycle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodInForceOfEachPhases', window );">Period in force of each cycle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,466,996<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,093,162<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,093,162<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2018-2022 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4.516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2018-2022 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6.4631<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="nump">19,425,499<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,544,534<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,712,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,272,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,770,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,417,814<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">787,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">691,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">691,750<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4.516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6.4631<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,751,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,659,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">875,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">829,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">700,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">663,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,471,489<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,494,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,494,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2018-2022 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4.4394<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2018-2022 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6.1436<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,069,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,969,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,534,825<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,484,899<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,027,860<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,987,920<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">812,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">690,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">690,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4.4394<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6.1436<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,646,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,611,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">823,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">805,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">658,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">644,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_ThirdCycleMember', window );">Third Cycle | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,346,508<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,595,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_ThirdCycleMember', window );">Third Cycle | Performance Share Plan 2018-2022 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1.6444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_ThirdCycleMember', window );">Third Cycle | Performance Share Plan 2018-2022 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.2136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_ThirdCycleMember', window );">Third Cycle | Talent for the Future Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Number of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">897,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Number of shares outstanding (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">761,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_ThirdCycleMember', window );">Third Cycle | Talent for the Future Share Plan 2018-2022 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1.6444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_ThirdCycleMember', window );">Third Cycle | Talent for the Future Share Plan 2018-2022 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.2136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAnEmployeeIsAllowedToPurchaseOfShareCapitalPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number Of Shares An Employee Is Allowed To Purchase, Of Share Capital, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAnEmployeeIsAllowedToPurchaseOfShareCapitalPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement By Share-based Payment Award, Number Of Independent Phases</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Percentage Of Carbon Dioxide Emission Neutralization</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodInForceOfEachPhases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Period in Force of Each Phases</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodInForceOfEachPhases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period1</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Maximum Amount Of Shares An Employee Is Allowed To Purchase</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Number Of Employees Registered</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Free Cash Flow Generation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Fulfillment of Total Shareholder Return Objective</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_WeightedAveragePaymentCoefficientPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted-Average Payment Coefficient, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_WeightedAveragePaymentCoefficientPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of other equity instruments granted in share-based payment arrangements</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedPaymentArrangementTrancheAxis=tef_FCFObjectiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedPaymentArrangementTrancheAxis=tef_FCFObjectiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20182022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20182022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20212025Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20212025Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_TalentfortheFutureSharePlan20182022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_TalentfortheFutureSharePlan20182022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_TalentForTheFutureSharePlan20212025Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_TalentForTheFutureSharePlan20212025Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807092016">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share-Based Payment Plans - Schedule of Number of Shares Assigned and Outstanding (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Apr. 23, 2021 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="nump">19,425,499<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,544,534<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,712,750<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,272,267<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,770,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,417,814<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2021-2025 | C02 E.N. Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,942,550<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,854,453<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,751,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,659,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">875,750<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">829,750<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">700,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">663,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Talent for the Future Share Plan 2021-2025 | C02 E.N. Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">175,150<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">165,950<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,069,650<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,969,799<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,534,825<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,484,899<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.43<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,027,860<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,987,920<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.95<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2021-2025 | C02 E.N. Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,506,965<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,496,980<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.95<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2021-2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,646,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,611,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2021-2025 | TSR Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">823,250<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">805,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.43<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2021-2025 | FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">658,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">644,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.95<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Talent for the Future Share Plan 2021-2025 | C02 E.N. Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">164,650<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Outstanding shares (shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">161,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019', window );">Unit fair value (in euro per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2.95<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489787229232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail - Operating Activities (Details)<br> &#8364; in Millions, &#163; in Millions</strong></div></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="5">12 Months Ended</th>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
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<div>Dec. 31, 2022 </div>
<div>GBP (&#163;)</div>
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<div>Sep. 30, 2022 </div>
<div>EUR (&#8364;)</div>
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<div>Sep. 30, 2022 </div>
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<div>Jun. 30, 2022 </div>
<div>EUR (&#8364;)</div>
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<div>Jun. 30, 2022 </div>
<div>GBP (&#163;)</div>
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<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>GBP (&#163;)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>GBP (&#163;)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>GBP (&#163;)</div>
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<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ReceiptsFromOperations', window );">Cash received from operations</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 46,925<span></span>
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<td class="nump">&#8364; 46,415<span></span>
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<td class="nump">&#8364; 51,353<span></span>
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<tr class="reu">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(34,778)<span></span>
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<td class="num">(34,379)<span></span>
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<td class="num">(36,477)<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices', window );">Cash paid to suppliers</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(29,509)<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(29,236)<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(31,080)<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToAndOnBehalfOfEmployees', window );">Cash paid to employees</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,416)<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="num">(4,299)<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="num">(4,434)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_OtherCashPaymentsFromOperatingActivities', window );">Payments related to cancellation of commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(853)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(844)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(963)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived', window );">Net payments of interest and other financial expenses net of dividends received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(292)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,309)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,171)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities', window );">Net interest and other financial expenses paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,236)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,519)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,193)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsReceived', window );">Dividends received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">944<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">210<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities', window );">Taxes (paid)/proceeds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(92)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(459)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(509)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash flow provided by operating activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,268<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CondensedCashFlowStatementsCaptionsLineItems', window );"><strong>Condensed Cash Flow Statements, Captions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities', window );">Dividends received from joint ventures, classified as investing activities</a></td>
<td class="nump">&#8364; 439<span></span>
</td>
<td class="nump">&#163; 385<span></span>
</td>
<td class="nump">&#8364; 324<span></span>
</td>
<td class="nump">&#163; 290<span></span>
</td>
<td class="nump">&#8364; 146<span></span>
</td>
<td class="nump">&#163; 125<span></span>
</td>
<td class="nump">&#8364; 187<span></span>
</td>
<td class="nump">&#163; 161<span></span>
</td>
<td class="nump">&#8364; 909<span></span>
</td>
<td class="nump">&#163; 800<span></span>
</td>
<td class="nump">&#8364; 187<span></span>
</td>
<td class="nump">&#163; 161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 10<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 50<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends received.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from joint ventures, classified as investing activities. [Refer: Joint ventures [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities</td>
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<tr>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded, classified as operating activities. [Refer: Income taxes paid (refund)]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 35<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -Subparagraph f<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14_f&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsOperatingActivities</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for operating activities that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashPaymentsFromOperatingActivities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsToAndOnBehalfOfEmployees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to, and on behalf of, employees.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsToAndOnBehalfOfEmployees</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsToSuppliersForGoodsAndServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to suppliers for goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 14<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_14_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsToSuppliersForGoodsAndServices</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CondensedCashFlowStatementsCaptionsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments For Operations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments Of Interest And Other Financial Expenses, Net Of Dividends Received</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsOfInterestAndOtherFinancialExpensesNetOfDividendsReceived</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ReceiptsFromOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Receipts From Operations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489791522016">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail - Investing Activities (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities', window );">Proceeds from the sale in property, plant and equipment and intangible assets</a></td>
<td class="nump">&#8364; 842<span></span>
</td>
<td class="nump">&#8364; 564<span></span>
</td>
<td class="nump">&#8364; 509<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Payments on investments in property, plant and equipment and intangible assets</a></td>
<td class="num">(6,350)<span></span>
</td>
<td class="num">(6,728)<span></span>
</td>
<td class="num">(7,529)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet', window );">(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets</a></td>
<td class="num">(5,508)<span></span>
</td>
<td class="num">(6,164)<span></span>
</td>
<td class="num">&#8364; (7,020)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsToAcquireIntangibleAssets1', window );">Spectrum license payments</a></td>
<td class="nump">27<span></span>
</td>
<td class="nump">999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaMovilesArgentinaS.A.Member', window );">Telef&#243;nica M&#243;viles Argentina, S.A. Telecommunications service provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsToAcquireIntangibleAssets1', window );">Spectrum license payments</a></td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicadeEspanaMember', window );">Telefonica de Espana [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsToAcquireIntangibleAssets1', window );">Spectrum license payments</a></td>
<td class="nump">&#8364; 8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember', window );">Telef&#243;nica United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsToAcquireIntangibleAssets1', window );">Spectrum license payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">521<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsToAcquireIntangibleAssets1', window );">Spectrum license payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">343<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=tef_TelefonicaChileMember', window );">Telefonica Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfGeographicalAreasLineItems', window );"><strong>Disclosure of geographical areas [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsToAcquireIntangibleAssets1', window );">Spectrum license payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 131<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfGeographicalAreasLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfGeographicalAreasLineItems</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
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<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentsToAcquireIntangibleAssets1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments To Acquire Intangible Assets1</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsToAcquireIntangibleAssets1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From (Purchase Of) Property, Plant And Equipment And Intangible Assets, Classified As Investing Activities, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Sales Of Property, Plant, And Equipment And Intangibles, Classified As Investing Activities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaMovilesArgentinaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaMovilesArgentinaS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicadeEspanaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicadeEspanaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaUnitedKingdomMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaSpainMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=tef_TelefonicaChileMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=tef_TelefonicaChileMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807625232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail - Investing Activities, Proceeds and Payments on Companies (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="num">&#8364; (115)<span></span>
</td>
<td class="nump">&#8364; 13,369<span></span>
</td>
<td class="nump">&#8364; 81<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="num">(1,628)<span></span>
</td>
<td class="num">(414)<span></span>
</td>
<td class="num">(79)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_GrupoOiMobileBusinessMember', window );">Grupo Oi Mobile Business</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="num">(986)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember', window );">Incremental</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="num">(178)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember', window );">BE-terna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="num">(328)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember', window );">Cancom Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(374)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_UGGTopCoGmbHCoKGMember', window );">UGG TopCo GmbH &amp; Co KG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="num">(50)<span></span>
</td>
<td class="num">(27)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OtherInvestmentMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Payments on investments in companies, net of cash and cash equivalents acquired</a></td>
<td class="num">(86)<span></span>
</td>
<td class="num">(13)<span></span>
</td>
<td class="num">(79)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="num">(256)<span></span>
</td>
<td class="nump">5,872<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelxiusTowersMember', window );">Telxius Towers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">7,434<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelxiusTowersTaxMember', window );">Telxius Towers - Tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(917)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaDeCostaRicaMember', window );">Telef&#243;nica de Costa Rica TC, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="num">(15)<span></span>
</td>
<td class="nump">442<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">479<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TaxAssociatedWithSaleOfInfraCoSpAMember', window );">Tax Associated with Sale of InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="num">(124)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaMovilesElSalvadorMember', window );">Telef&#243;nica El Salvador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">116<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_FiberAssetsInColombiaMember', window );">Fiber Assets in Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">55<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelfinIreleandMember', window );">Telfin Ireleand</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">35<span></span>
</td>
<td class="nump">35<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaCentroamericanaInversionesMember', window );">Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panama in Telef&#243;nica Centroam&#233;rica Inversiones, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">71<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_OtherCompaniesMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContinuingAndDiscontinuedOperationsLineItems', window );"><strong>Continuing And Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed</a></td>
<td class="nump">&#8364; 72<span></span>
</td>
<td class="nump">&#8364; 24<span></span>
</td>
<td class="nump">&#8364; 10<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows arising from losing control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
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<tr>
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<tr>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 39<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
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<tr>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ContinuingAndDiscontinuedOperationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Continuing And Discontinued Operations [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ContinuingAndDiscontinuedOperationsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_GrupoOiMobileBusinessMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_IncrementalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_BETernaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_BETernaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_CancomLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_UGGTopCoGmbHCoKGMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=tef_OtherInvestmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_OtherInvestmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelxiusTowersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelxiusTowersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelxiusTowersTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelxiusTowersTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaDeCostaRicaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaDeCostaRicaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_InfraCoSpAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_InfraCoSpAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TaxAssociatedWithSaleOfInfraCoSpAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TaxAssociatedWithSaleOfInfraCoSpAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaMovilesElSalvadorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaMovilesElSalvadorMember</td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail - Investing Activities, Proceeds and Payments on Financial Investments (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
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<td class="num">(1,228)<span></span>
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<td class="num">(3,251)<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(116)<span></span>
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<td class="num">(122)<span></span>
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<td class="num">(46)<span></span>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489786490880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail - Financing Activities, Dividends and Shares (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">&#8364; (1,397)<span></span>
</td>
<td class="num">&#8364; (3,630)<span></span>
</td>
<td class="num">&#8364; (1,296)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from share capital increase with minority interest</a></td>
<td class="nump">1,022<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">323<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations', window );">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</a></td>
<td class="num">(555)<span></span>
</td>
<td class="num">(604)<span></span>
</td>
<td class="num">(223)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CashFlowsFromOperationsWithOtherEquityHolders', window );">Operations with other equity holders</a></td>
<td class="num">(268)<span></span>
</td>
<td class="num">(354)<span></span>
</td>
<td class="num">(1,020)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_UndatedDeeplySubordinatedSecuritiesMember', window );">Undated deeply subordinated securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingOtherEquityInstruments', window );">Operations with other equity holders</a></td>
<td class="nump">750<span></span>
</td>
<td class="nump">1,750<span></span>
</td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares', window );">Acquisition of undated deeply subordinated securities (Note 17)</a></td>
<td class="num">(750)<span></span>
</td>
<td class="num">(1,750)<span></span>
</td>
<td class="num">(385)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsOfOtherEquityInstruments', window );">Payments for equity</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(808)<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_CouponRelatedToUndatedDeeplySubordinatedSecuritiesMember', window );">Coupon related to undated deeply subordinated securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsOfOtherEquityInstruments', window );">Payments for equity</a></td>
<td class="num">(268)<span></span>
</td>
<td class="num">(354)<span></span>
</td>
<td class="num">(327)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaMovilesGuatemalaTelefonicaCelulardeNicaraguaTelefonicaMovilesPanamaMember', window );">Telefonica Moviles Guatemala &amp; Telefonica Celular de Nicaragua &amp; Telefonica Moviles Panama</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations', window );">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</a></td>
<td class="num">(44)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Dividends1Axis=tef_DividendsPaidByTelefonicaS.A.Member', window );">Dividends paid by Telefonica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">(959)<span></span>
</td>
<td class="num">(617)<span></span>
</td>
<td class="num">(825)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Dividends1Axis=tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member', window );">Non-controlling interests in Telefonica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">(268)<span></span>
</td>
<td class="num">(198)<span></span>
</td>
<td class="num">(227)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Dividends1Axis=tef_NoncontrollingInterestsOfTelefonicaDeutschlandMember', window );">Non-controlling interests of Telefonica Deutschland</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">(161)<span></span>
</td>
<td class="num">(165)<span></span>
</td>
<td class="num">(156)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Dividends1Axis=tef_NoncontrollingInterestOfTelefonicaCentroamericaMember', window );">Noncontrolling interest of Telefonica Centroamerica</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(39)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Dividends1Axis=tef_NonControllingInterestsOfTelxiusTelecomSATelecommunicationsTowersDivisionsMember', window );">Payments to non-controlling interests of Telxius for the sale of the telecommunications tower divisions (see Note 17.h)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(2,603)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Dividends1Axis=tef_NonControllingInterestsOfTelxiusTelecomSAMember', window );">Payments to non-controlling interests of Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(42)<span></span>
</td>
<td class="num">(44)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Dividends1Axis=tef_OtherDividendsMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Dividends paid</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="num">(5)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_PonterlParticipacionesSLAndTelxiusSAMember', window );">Share capital increase Pontel and Telxius (see Note 17.h)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from share capital increase with minority interest</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">323<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations', window );">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</a></td>
<td class="num">(111)<span></span>
</td>
<td class="num">(78)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaDeutschlandHoldingA.G.Member', window );">Telefonica Deutschland Holding A.G.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations', window );">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</a></td>
<td class="num">(48)<span></span>
</td>
<td class="num">(51)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations', window );">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</a></td>
<td class="num">(365)<span></span>
</td>
<td class="num">(478)<span></span>
</td>
<td class="num">(217)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaHispanoamericaMember', window );">Telef&#243;nica Hispam Norte</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations', window );">(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests</a></td>
<td class="nump">13<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_OtherCompaniesMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from share capital increase with minority interest</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DividendsLineItems', window );"><strong>Dividends [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssuingShares', window );">Proceeds from share capital increase with minority interest</a></td>
<td class="nump">&#8364; 1,021<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid by the entity, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 31<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsOfOtherEquityInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payments for equity instruments that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsOfOtherEquityInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire or redeem entity's shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsToAcquireOrRedeemEntitysShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingOtherEquityInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing equity instruments that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingOtherEquityInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssuingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuing shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssuingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CashFlowsFromOperationsWithOtherEquityHolders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash Flows From Operations With Other Equity Holders</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CashFlowsFromOperationsWithOtherEquityHolders</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DividendsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Dividends [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DividendsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From (Payments For) Treasury Shares And Other Shareholder Operations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProceedsFromPaymentsForTreasurySharesAndOtherShareholderOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_UndatedDeeplySubordinatedSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_UndatedDeeplySubordinatedSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_CouponRelatedToUndatedDeeplySubordinatedSecuritiesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContinuingAndDiscontinuedOperationsAxis=tef_TelefonicaMovilesGuatemalaTelefonicaCelulardeNicaraguaTelefonicaMovilesPanamaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Dividends1Axis=tef_DividendsPaidByTelefonicaS.A.Member</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Dividends1Axis=tef_NoncontrollingInterestsInTelefonicaBrasilS.A.Member</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_PonterlParticipacionesSLAndTelxiusSAMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaBrasilS.A.Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaDeutschlandHoldingA.G.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaSAMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaHispanoamericaMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>251
<FILENAME>R235.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489784626128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash Flow Detail - Financing Activities, Debt (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds on issue of debentures and bonds and other debts</a></td>
<td class="nump">&#8364; 1,746<span></span>
</td>
<td class="nump">&#8364; 561<span></span>
</td>
<td class="nump">&#8364; 4,011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">839<span></span>
</td>
<td class="nump">3,085<span></span>
</td>
<td class="nump">4,516<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBondsNotesAndDebentures', window );">Cancellation of debentures and bonds, and other debts</a></td>
<td class="num">(3,541)<span></span>
</td>
<td class="num">(5,847)<span></span>
</td>
<td class="num">(6,728)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="num">(3,077)<span></span>
</td>
<td class="num">(4,146)<span></span>
</td>
<td class="num">(2,852)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PrincipalPaymentsofLeaseLiabilities', window );">Lease principal payments (Note 20)</a></td>
<td class="num">(1,996)<span></span>
</td>
<td class="num">(1,782)<span></span>
</td>
<td class="num">(1,787)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsOfSpectrumLicenses', window );">Financed spectrum licenses payments</a></td>
<td class="num">(549)<span></span>
</td>
<td class="num">(57)<span></span>
</td>
<td class="num">(60)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentsforInvestmentsinSpectrumLicenses', window );">Payments for investments in spectrum use licenses financed without explicit interest (Notes 2 and 21)</a></td>
<td class="num">(108)<span></span>
</td>
<td class="num">(108)<span></span>
</td>
<td class="num">(87)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TradeAndOtherPayablesDeferredPayments', window );">Payments to suppliers with extended payment terms</a></td>
<td class="num">(41)<span></span>
</td>
<td class="num">(108)<span></span>
</td>
<td class="num">(235)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities', window );">Financed operating payments and investments in property, plant and equipment and intangible assets payments</a></td>
<td class="num">(698)<span></span>
</td>
<td class="num">(273)<span></span>
</td>
<td class="num">(382)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_BilateralLoansMember', window );">Bilateral loans of Telefonica S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">150<span></span>
</td>
<td class="nump">200<span></span>
</td>
<td class="nump">350<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="num">(117)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember', window );">Syndicated provision of 750 million euros by Telef&#243;nica Germany GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">750<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member', window );">Syndicated bilateral loan of Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="num">(70)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">199<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedProvisionOfBlueviaFibraSLUMember', window );">Syndicated provision of Bluevia Fibra S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">245<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_DebtHedgingDerivativesMember', window );">Debt hedging derivatives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">89<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,119<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="num">(715)<span></span>
</td>
<td class="num">(34)<span></span>
</td>
<td class="num">(139)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanOfColombiaTelecomunicacionesSAESPMember', window );">Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, ESP BIC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">436<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_OtherDebtInstrumentsMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds on loans, borrowings and promissory notes</a></td>
<td class="nump">56<span></span>
</td>
<td class="nump">2,135<span></span>
</td>
<td class="nump">2,611<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="num">(2,175)<span></span>
</td>
<td class="num">(3,162)<span></span>
</td>
<td class="num">(2,713)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedAmortizationOfTelefonicaSAMember', window );">Syndicated amortization by Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(750)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedAmortizationOfTelefonicaColombiaMember', window );">Syndicated amortization by Colombia Telecomunicaciones, S.A. ESP BIC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of loans, borrowings and promissory notes</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(200)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_TelefonicaEmisionesEMTNBondMember', window );">Telefonica Emisiones EMTN Bond</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds on issue of debentures and bonds and other debts</a></td>
<td class="nump">1,100<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_TelefonicaMovilesChileS.A.Member', window );">Telef&#243;nica Emisiones, S.A.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds on issue of debentures and bonds and other debts</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">535<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds on issue of debentures and bonds and other debts</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">408<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=ifrs-full_OtherEquitySecuritiesMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds on issue of debentures and bonds and other debts</a></td>
<td class="nump">18<span></span>
</td>
<td class="nump">26<span></span>
</td>
<td class="nump">103<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfEntitysOwnEquityInstrumentsAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems', window );"><strong>Disclosure of fair value measurement of equity [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures', window );">Proceeds on issue of debentures and bonds and other debts</a></td>
<td class="nump">&#8364; 628<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFairValueMeasurementOfEquityLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment of lease liabilities, classified as financing activities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBondsNotesAndDebentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of bonds, notes and debentures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBondsNotesAndDebentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentsOfSpectrumLicenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments Of Spectrum Licenses</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsOfSpectrumLicenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentsforInvestmentsinSpectrumLicenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments for Investments in Spectrum Licenses</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentsforInvestmentsinSpectrumLicenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PrincipalPaymentsofLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Principal Payments of Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PrincipalPaymentsofLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TradeAndOtherPayablesDeferredPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trade And Other Payables, Deferred Payments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TradeAndOtherPayablesDeferredPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BilateralLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedBilateralProvisionOfTelefonicaGermanyGmbHMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedBilateralLoanofTelxiusTelecomS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedProvisionOfBlueviaFibraSLUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedProvisionOfBlueviaFibraSLUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_DebtHedgingDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_DebtHedgingDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanOfColombiaTelecomunicacionesSAESPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanOfColombiaTelecomunicacionesSAESPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_OtherDebtInstrumentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_OtherDebtInstrumentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489683843184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Information - Narrative (Details)<br> &#163; in Millions, home in Millions, client in Millions, R$ in Millions, K&#269; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
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<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="9">12 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
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<th class="th"><div>Jan. 18, 2023</div></th>
<th class="th"><div>Jan. 17, 2023</div></th>
<th class="th">
<div>Dec. 20, 2022 </div>
<div>EUR (&#8364;) </div>
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<div>Aug. 04, 2022 </div>
<div>EUR (&#8364;)</div>
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<div>Jul. 29, 2022 </div>
<div>GBP (&#163;) </div>
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<th class="th">
<div>Jul. 29, 2022 </div>
<div>EUR (&#8364;)</div>
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<div>Jun. 29, 2022 </div>
<div>EUR (&#8364;)</div>
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<div>May 24, 2022 </div>
<div>center</div>
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<th class="th">
<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Apr. 20, 2022 </div>
<div>BRL (R$)</div>
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<th class="th">
<div>Mar. 28, 2022 </div>
<div>EUR (&#8364;) </div>
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<div>Feb. 01, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th"><div>Jan. 11, 2022</div></th>
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<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>center</div>
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<div>Dec. 13, 2021 </div>
<div>EUR (&#8364;) </div>
<div>topTeam </div>
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<th class="th">
<div>Jul. 21, 2021 </div>
<div>center</div>
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<th class="th">
<div>Jul. 16, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Jun. 01, 2021 </div>
<div>GBP (&#163;)</div>
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<th class="th">
<div>Jun. 01, 2021 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>May 07, 2021 </div>
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<th class="th">
<div>Jan. 07, 2021 </div>
<div>period </div>
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<th class="th">
<div>Oct. 29, 2020 </div>
<div>EUR (&#8364;)</div>
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<div>Dec. 21, 2018 </div>
<div>EUR (&#8364;) </div>
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<div>Aug. 29, 2017 </div>
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<th class="th">
<div>Apr. 11, 2003 </div>
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<th class="th">
<div>May 31, 2022 </div>
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<th class="th">
<div>Apr. 30, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>center</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>GWh </div>
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<div>macroSite </div>
<div>thirdPartySite </div>
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<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;) </div>
<div>center</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>EUR (&#8364;) </div>
<div>center</div>
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<th class="th">
<div>Dec. 31, 2018 </div>
<div>EUR (&#8364;)</div>
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<th class="th">
<div>Dec. 31, 2017 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
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<th class="th">
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<div>BRL (R$)</div>
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<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$) </div>
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<div>Jul. 29, 2022 </div>
<div>EUR (&#8364;) </div>
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<div>Apr. 20, 2022 </div>
<div>EUR (&#8364;)</div>
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<th class="th"><div>Apr. 20, 2022</div></th>
<th class="th">
<div>Apr. 20, 2022 </div>
<div>BRL (R$)</div>
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<th class="th">
<div>Apr. 20, 2022 </div>
<div>sitesOfMobileAccess</div>
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<div>EUR (&#8364;) </div>
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<div>Jun. 25, 2018 </div>
<div>EUR (&#8364;)</div>
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<div>May 31, 2018 </div>
<div>BRL (R$)</div>
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<th class="th">
<div>Jul. 25, 2017 </div>
<div>BRL (R$)</div>
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<th class="th">
<div>Aug. 05, 2016 </div>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InvestmentRepurchaseAgreementPaymentObligationTermsProportionOfMaximumCapitalInvestmentsExceedingRevenue', window );">Framework investment agreement, payment obligation terms, percent of capital investments exceeding revenues (in percentage)</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharePurchaseAgreementSettlementPaymentOrReceipt', window );">Share purchase agreement, price of settlement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 22,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ServicesAgreementAmount', window );">Services agreement amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 450,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CostofAwardforBroadcastingRights', window );">Cost of award for broadcasting rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 105,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 2,940,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CostofAwardforBroadcastingRightsperSeason', window );">Cost of award for broadcasting rights per season</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 35,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 980,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BroadcastingAwardPrice', window );">Broadcasting award price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 975,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BroadcastingAwardPricePerSeason', window );">Broadcasting award price per season</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 520,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 325,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMatchDayFirstPicksEachSeason', window );">Number of first picks | matchday</a></td>
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<td class="nump">18<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMatchDaySecondPickEachSeason', window );">Number of second picks | matchday</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">17<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfExclusiveRights', window );">Number of exclusive football match rights | matchday</a></td>
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<td class="nump">3<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMatches', window );">Number of matches | match</a></td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="nump">10<span></span>
</td>
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSeason', window );">Number of seasons | season</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs', window );">Number of selected teams against top three spanish football clubs | topTeam</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities', window );">Additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,846,000,000<span></span>
</td>
<td class="nump">&#8364; 5,452,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfSites', window );">Percentage of sites</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.19<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Notes and debentures issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,095,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 84,794,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 84,794,000,000<span></span>
</td>
<td class="nump">&#8364; 83,706,000,000<span></span>
</td>
<td class="nump">84,794,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RenewableEnergySolarProductionNumberOfModels', window );">Number of models | model</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemuneration', window );">Auditor's remuneration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 20,070,000.00<span></span>
</td>
<td class="nump">19,990,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForAuditServices', window );">Audit services</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">18,710,000<span></span>
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<td class="nump">&#8364; 18,360,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DirectorsRemunerationExpense', window );">Directors' remuneration expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Sustainable financing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 15,956,000,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfContractsAxis=tef_SecondDivisionOfSpanishFootballChampionshipLeagueMember', window );">Second Division Of Spanish Football Championship League</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BroadcastingAwardPricePerSeason', window );">Broadcasting award price per season</a></td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="nump">&#8364; 16,000,000<span></span>
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</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfContractsAxis=tef_LaLigaTVBarChannelMember', window );">LaLiga TV Bar Channel</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BroadcastingAwardPricePerSeason', window );">Broadcasting award price per season</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 29,000,000<span></span>
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</td>
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</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum</a></td>
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</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DirectorsRemunerationExpense', window );">Directors' remuneration expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod', window );">Proceeds from sales of investments accounted for using equity method</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 5,376<span></span>
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<td class="nump">&#8364; 6,234,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2 | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_JointVentureServiceAgreementTransitionalServicesTerm', window );">Service agreement, transitional services, term</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">7 months<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_JointVentureServiceAgreementOngoingServicesTerm', window );">Service agreement, ongoing services, term</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">2 years<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2 | Maximum</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_JointVentureServiceAgreementTransitionalServicesTerm', window );">Service agreement, transitional services, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">24 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_JointVentureServiceAgreementOngoingServicesTerm', window );">Service agreement, ongoing services, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_CornerstoneTelecomunicationsMember', window );">Cornerstone Telecomunications</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_JointVentureNumberOfOperatorsWithControl', window );">Joint venture, number of operators with control | operator</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MasterServicesAgreementInitialTerm', window );">Master services agreement, initial term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">8 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods', window );">Master services agreement, number of additional renewal periods | period</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">3<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MasterServicesAgreementRenewalPeriodTerm', window );">Master services agreement, renewal period, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">8 years<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMacroSitesUnderOperation', window );">Number of macro sites under operation | macroSite</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,200<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TenancyRatioMacroSitesUnderOperation', window );">Tenancy ratio, macro sites under operation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">2.0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMicroSitesUnderOperation', window );">Number of micro sites under operation | microSite</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfThirdPartySites', window );">Number of third party sites | thirdPartySite</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_LibertyGlobalAndInfraViaMember', window );">Liberty Global And InfraVia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DeploymentOfFTTHInUKNumberOfHomes', window );">Deployment of FTTH in the UK, number of homes | home</a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InvestmentInTheDeploymentOfFTTHInUK', window );">Investment in the deployment of FTTH in the UK</a></td>
<td class="text">&#160;<span></span>
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</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InvestmentInTheDeploymentOfFTTHInUKPartnerFinancing', window );">Investment in the deployment of FTTH in the UK, partner financing</a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InvestmentInTheDeploymentOfFTTHInUKFacilitiesAgreementWithBanks', window );">Investment in the deployment of FTTH in the UK, facilities agreement with banks</a></td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_LibertyGlobalAndInfraViaMember', window );">Liberty Global And InfraVia | Forecast</a></td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DeploymentOfFTTHInUKNumberOfHomes', window );">Deployment of FTTH in the UK, number of homes | home</a></td>
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</td>
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</td>
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</td>
<td class="nump">2<span></span>
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<td class="nump">2<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_ES', window );">Spain</a></td>
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</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RenewablePowerPurchaseAgreementPeriod', window );">Renewable Power Purchase Agreement period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RenewablePowerPurchaseAgreementEnergyPerYear', window );">Renewable energy per year | GWh</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">482<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorNameAxis=tef_AuditorsOtherThanPWCMember', window );">Auditors other than PWC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemuneration', window );">Auditor's remuneration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,460,000<span></span>
</td>
<td class="nump">&#8364; 1,580,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForAuditServices', window );">Audit services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">830,000<span></span>
</td>
<td class="nump">550,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Oi Group</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CashTransferredEstimation', window );">Cash transferred, estimation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,063,000,000<span></span>
</td>
<td class="nump">R$ 5,373<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 972,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 4,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage', window );">Increase in existing liabilities, contingent liabilities recognised in business combination, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.10<span></span>
</td>
<td class="nump">0.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DataTransmissionAgreement', window );">Data transmission agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">179<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DataTransmissionAgreementTerm', window );">Data transmission agreement, liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfClientsRecognisedAsOfAcquisitionDate', window );">Number of clients recognised as of acquisition date | client</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage', window );">Number of clients recognised as of acquisition date, (in percentage of total customers)</a></td>
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<td class="nump">0.30<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage', window );">Spectrum recognised as of acquisition date, percentage of radiofrequency (in percentage)</a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate', window );">Infrastructure contracts recognised as of acquisition date</a></td>
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<td class="nump">2,700<span></span>
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<td class="nump">2,700<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember', window );">Oi Group | Committed Payment Subject To Certain Targets</a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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</td>
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</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities', window );">Additions</a></td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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<td class="nump">&#8364; 23,000,000<span></span>
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<td class="nump">R$ 110<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations', window );">Cash transferred, additional contractual liabilities from business combinations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,000,000<span></span>
</td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=tef_FiberToTheHomeJointVentureMember', window );">FTTH Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentToFundInvestment', window );">Commitment to fund investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 500,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentToFundInvestmentPeriod', window );">Commitment to fund investment, period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TitleOfIndividual1Axis=tef_BoardOfDirectorsChairman1Member', window );">Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total executive compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TitleOfIndividual1Axis=srt_ChiefOperatingOfficerMember', window );">Mr. Angel Vila Boix, Chief Operating Officer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total executive compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember', window );">Board of Directors | Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total executive compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">240,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember', window );">Executive Commission | Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total executive compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_DAZNMember', window );">DAZN</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BroadcastingAwardPricePerSeason', window );">Broadcasting award price per season</a></td>
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</td>
<td class="nump">&#8364; 280,000,000<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMatches', window );">Number of matches | match</a></td>
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<td class="nump">5<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMatchWeekendsPerSeasonIncludedInContract', window );">Number of match-weekends per season, included in contract | match-weekend</a></td>
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<td class="nump">35<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfMatchWeekendsPerSeasonTotal', window );">Number of match-weekends per season, total | match-weekend</a></td>
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</td>
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<td class="nump">38<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfSeason', window );">Number of seasons | season</a></td>
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</td>
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</td>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProportionofInterconnectionRevenuesContingentLiabilities', window );">Proportion of interconnection revenues from contingent legal claim</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 67,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 67,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContingentLiabilitiesAmountPaid', window );">Amount paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 67,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability | Venten Management Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
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<td class="nump">&#8364; 23,000,000<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability | Lexburg Enterprises Limited</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability | ANATEL</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 38,000,000<span></span>
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<td class="nump">R$ 211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate', window );">Estimated effect after currency value update</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 103,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability | ANATEL | Renewal of Radio Frequencies 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">139,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">774<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm', window );">Renewal of radio frequencies associated with the provision of personal mobile services, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm', window );">Price renewal, renewal of radio frequencies associated with the provision of personal mobile services, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesPercentage', window );">Price renewal, renewal of radio frequencies associated with the provision of personal mobile services (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability | ANATEL | Renewal of Radio Frequencies 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 72,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm', window );">Renewal of radio frequencies associated with the provision of personal mobile services, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm', window );">Price renewal, renewal of radio frequencies associated with the provision of personal mobile services, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesPercentage', window );">Price renewal, renewal of radio frequencies associated with the provision of personal mobile services (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability | Republic of Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContingentLiabilitiesPercentPaid', window );">Percent paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContingentLiabilitiesAmountPaid', window );">Amount paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 317,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ComunicacionesDigitalesSDeRLDeCVMember', window );">Comunicaciones Digitales, S. de R.L. de C.V. | Pegaso PCS S.A. de CV</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WholesaleAccessServicesAgreementTerm', window );">Wholesale access services agreement, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">8 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WholesaleAccessServicesAgreementRenewalPeriodAfterTermEndTerm', window );">Wholesale access services agreement, renewal period after term end, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company | VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OnnetFibraColombiaSASMember', window );">Onnet Fibra Colombia S.A.S.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember', window );">Garliava RJ Infraestrutura E Redes De Telecomunicacoes S.A. Wireline Telephony Operator</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PaymentTransitionServices', window );">Payment transition services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 29,000,000<span></span>
</td>
<td class="nump">R$ 148<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PontelParticipacionesSLMember', window );">Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilMember', window );">Telefonica Brasil | Oi Group | Guaranteed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage', window );">Increase in existing liabilities, contingent liabilities recognised in business combination, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSpainMember', window );">Telef&#243;nica Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RenewablePowerPurchaseAgreementEnergyPerYear', window );">Renewable energy per year | GWh</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombianGovernmentMember', window );">Colombian Government | Legal proceedings contingent liability | Republic of Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContingentLiabilitiesPercentPaid', window );">Percent paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ContingentLiabilitiesAmountPaid', window );">Amount paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 153,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TEFInfraGermanyMember', window );">TEF Infra Germany | FTTH Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentToFundInvestment', window );">Commitment to fund investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TEFGermanyMember', window );">TEF Germany | FTTH Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentToFundInvestment', window );">Commitment to fund investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_AllianzMember', window );">Allianz | FTTH Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CommitmentToFundInvestment', window );">Commitment to fund investment</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 32,167,000,000<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Asterion Industrial Partners SGEIC</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfDataCentersSold', window );">Number of data centers sold | center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_HousingServicesProvisionAgreementTerm', window );">Housing services provision agreement term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Telef&#243;nica O2 Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">99.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Indirectparticipationpercentage', window );">Proportion of indirect participation (as a percent)</a></td>
<td class="nump">70.00%<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A. | Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3783.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Nabiax | Forecast</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Asterion Industrial Partners SGEIC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfDataCentersSold', window );">Number of data centers sold | center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13.94%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Asterion Industrial Partners SGEIC | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfDataCentersSold', window );">Number of data centers sold | center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Asterion Industrial Partners SGEIC | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfDataCentersSold', window );">Number of data centers sold | center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Asterion Industrial Partners SGEIC | Chile | Forecast</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfDataCentersSold', window );">Number of data centers sold | center</a></td>
<td class="text">&#160;<span></span>
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</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L. | Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_LibertyGlobalMember', window );">Liberty Global | VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Proportion of ownership interest in joint venture (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_LibertyGlobalMember', window );">Liberty Global | Netxfiber</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P. | KKR Alameda Aggregator L.P.</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProceedsFromSalesOfInvestmentProperty', window );">Proceeds from sale of portfolio of data centers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 320,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ProceedsFromSalesOfInvestmentPropertyExpectedAdditionalConsiderationToBeReceived', window );">Expected additional consideration to be received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 100,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P. | Alamo HoldCo S.L. | KKR Alameda Aggregator L.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_KKRAlamedaAggregatorLPMember', window );">KKR Alameda Aggregator L.P. | Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 82,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L. | Onnet Fibra Colombia S.A.S.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_VaubanCAAMember', window );">Vauban/CAA | Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Proportion of voting rights held in associate (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,021,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_VaubanCAAMember', window );">Vauban/CAA | Bluevia Fibra, S.L.U. | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Consideration (share purchase price)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,021,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_PontegadeaInversionesSLMember', window );">Pontegadea Inversiones, S.L. | Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_PontegadeaInversionesSLMember', window );">Pontegadea Inversiones, S.L. | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Indirectparticipationpercentage', window );">Proportion of indirect participation (as a percent)</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="nump">9.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_PontelParticipacionesSLMember', window );">Pontel Participaciones, S.L. Holding company | Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_PontelParticipacionesSLMember', window );">Pontel Participaciones, S.L. Holding company | Telxius Telecom, S.A. | Taurus Bidco S.A.R.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ConsiderationPaidReceived', window );">Consideration paid (received)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 215,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaEspanaFilialesMember', window );">Telef&#243;nica Espa&#241;a Filiales | Bluevia Fibra, S.L.U.</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PurchaseOfRealEstateUnits', window );">Purchase of real estate units | realEstate</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">3,900,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ExpectedOwnershipOfRealEstateUnit', window );">Expected ownership of real estate unit | realEstate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PurchaseOfRealEstateUnitsToTotalNetworkPercentage', window );">Purchase of real estate units, to total network (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NumberOfRealEstateUnitsToDeployInFuture', window );">Number of real estate units to deploy in future | realEstate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PeriodInWhichRealEstateUnitsWillBeDeployed', window );">Period in which real estate units will be deployed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_InfraViaCapitalPartnersMember', window );">InfraVia Capital Partners | Netxfiber</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaIndraSLMember', window );">Telefonica Indra, S.L. | Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EquityFundsContributed', window );">Equity funds contributed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,247,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SecondSustainableHybridBondMember', window );">Second Sustainable Hybrid Bond | Sustainable financing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Notes and debentures issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DebtInstrumentTerm', window );">Debt instrument, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_SustainableLoanMember', window );">Sustainable Loan | Telef&#243;nica, S.A. | Loan Conversion | Sustainable financing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">&#8364; 5,500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BorrowingsNumberOfEntitiesSupported', window );">Number of entities supported | entity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_HybridBondMember', window );">Hybrid Bond | Sustainable financing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Notes and debentures issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_DebtInstrumentTerm', window );">Debt instrument, term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">9 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_HybridBondMember', window );">Hybrid Bond | Loan Conversion | Sustainable financing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Notes and debentures issued</a></td>
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<td class="nump">&#8364; 1,000,000,000<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_HybridBondMember', window );">Hybrid Bond | Telef&#243;nica Brazil | Sustainable financing</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Notes and debentures issued</a></td>
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<td class="nump">&#8364; 628,000,000<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_CommittedCreditFacilitiesAndBilateralLoans', window );">Committed Credit Facilities and Bilateral Loans | Telef&#243;nica, S.A. | Sustainable financing</a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems', window );"><strong>Disclosure of contingent liabilities [line items]</strong></a></td>
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</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3,864,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemuneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemuneration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemunerationForAuditServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors for auditing services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemunerationForAuditServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ConsiderationPaidReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of consideration paid or received in respect of both obtaining and losing control of subsidiaries or other businesses. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 40<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_40_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ConsiderationPaidReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DirectorsRemunerationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of remuneration paid or payable to the entity's directors.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DirectorsRemunerationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfContingentLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfContingentLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of the estimated financial effect of contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2022-03-24<br> -Paragraph 86<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=37&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_86_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EstimatedFinancialEffectOfContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase in contract liabilities resulting from business combinations. [Refer: Business combinations [member]; Contract liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 15<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=15&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseThroughBusinessCombinationsContractLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSalesOfInvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of investment property. [Refer: Investment property]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSalesOfInvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of investments accounted for using the equity method. [Refer: Investments accounted for using equity method]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 19B<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in an associate held by the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in a subsidiary held by the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 19B<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BorrowingsNumberOfEntitiesSupported">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Borrowings, Number Of Entities Supported</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BorrowingsNumberOfEntitiesSupported</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BroadcastingAwardPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Broadcasting Award Price</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BroadcastingAwardPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BroadcastingAwardPricePerSeason">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Broadcasting Award Price Per Season</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BroadcastingAwardPricePerSeason</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash Transferred, Additional Contractual Liabilities From Business Combinations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CashTransferredAdditionalContractualLiabilitiesFromBusinessCombinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CashTransferredEstimation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash transferred, estimation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CashTransferredEstimation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CommitmentToFundInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commitment To Fund Investment</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CommitmentToFundInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CommitmentToFundInvestmentPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commitment To Fund Investment, Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CommitmentToFundInvestmentPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ContingentLiabilitiesAmountPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contingent Liabilities, Amount Paid</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ContingentLiabilitiesAmountPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ContingentLiabilitiesPercentPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contingent Liabilities, Percent Paid</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ContingentLiabilitiesPercentPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CostofAwardforBroadcastingRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cost of Award for Broadcasting Rights</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CostofAwardforBroadcastingRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CostofAwardforBroadcastingRightsperSeason">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cost of Award for Broadcasting Rights per Season</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CostofAwardforBroadcastingRightsperSeason</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DataTransmissionAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Data Transmission Agreement</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DataTransmissionAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DataTransmissionAgreementTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Data Transmission Agreement, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DataTransmissionAgreementTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_DeploymentOfFTTHInUKNumberOfHomes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deployment Of FTTH In UK, Number Of Homes</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_DeploymentOfFTTHInUKNumberOfHomes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EquityFundsContributed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity Funds Contributed</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EquityFundsContributed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated Financial Effect Of Contingent Liabilities, After Currency Value Update</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EstimatedFinancialEffectOfContingentLiabilitiesAfterCurrencyValueUpdate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ExpectedOwnershipOfRealEstateUnit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expected Ownership Of Real Estate Unit</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ExpectedOwnershipOfRealEstateUnit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_HousingServicesProvisionAgreementTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Housing Services Provision Agreement, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_HousingServicesProvisionAgreementTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Increase In Existing Liabilities Recognised In Business Combination, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_IncreaseInExistingLiabilitiesRecognisedInBusinessCombinationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Indirectparticipationpercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indirect participation percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Indirectparticipationpercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InfrastructureContractsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Infrastructure contracts recognised as of acquisition date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InfrastructureContractsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InvestmentInTheDeploymentOfFTTHInUK">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investment In The Deployment Of FTTH In UK</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InvestmentInTheDeploymentOfFTTHInUK</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InvestmentInTheDeploymentOfFTTHInUKFacilitiesAgreementWithBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investment In The Deployment Of FTTH In UK, Facilities Agreement With Banks</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InvestmentInTheDeploymentOfFTTHInUKFacilitiesAgreementWithBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InvestmentInTheDeploymentOfFTTHInUKPartnerFinancing">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investment In The Deployment Of FTTH In UK, Partner Financing</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InvestmentInTheDeploymentOfFTTHInUKPartnerFinancing</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_InvestmentRepurchaseAgreementPaymentObligationTermsProportionOfMaximumCapitalInvestmentsExceedingRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investment Repurchase Agreement, Payment Obligation Terms, Proportion Of Maximum Capital Investments Exceeding Revenue</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_InvestmentRepurchaseAgreementPaymentObligationTermsProportionOfMaximumCapitalInvestmentsExceedingRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_JointVentureNumberOfOperatorsWithControl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Joint Venture, Number Of Operators With Control</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_JointVentureNumberOfOperatorsWithControl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_JointVentureServiceAgreementOngoingServicesTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Joint Venture, Service Agreement, Ongoing Services, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_JointVentureServiceAgreementOngoingServicesTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_JointVentureServiceAgreementTransitionalServicesTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Joint Venture, Service Agreement, Transitional Services, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_JointVentureServiceAgreementTransitionalServicesTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_MasterServicesAgreementInitialTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Master Services Agreement, Initial Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_MasterServicesAgreementInitialTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Master Services Agreement, Number Of Additional Renewal Periods</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_MasterServicesAgreementNumberOfAdditionalRenewalPeriods</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_MasterServicesAgreementRenewalPeriodTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Master Services Agreement, Renewal Period, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_MasterServicesAgreementRenewalPeriodTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfClientsRecognisedAsOfAcquisitionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of clients recognised as of acquisition date</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfClientsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Clients Recognised As Of Acquisition Date, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfClientsRecognisedAsOfAcquisitionDatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfDataCentersSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Data Centers Sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfDataCentersSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfExclusiveRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Exclusive Rights</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfExclusiveRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfMacroSitesUnderOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Macro Sites Under Operation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfMacroSitesUnderOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfMatchDayFirstPicksEachSeason">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Match Day First Picks Each Season</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfMatchDayFirstPicksEachSeason</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfMatchDaySecondPickEachSeason">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Match Day Second Pick Each Season</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfMatchDaySecondPickEachSeason</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfMatchWeekendsPerSeasonIncludedInContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Match-Weekends Per Season, Included In Contract</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfMatchWeekendsPerSeasonIncludedInContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfMatchWeekendsPerSeasonTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Match-Weekends Per Season, Total</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfMatchWeekendsPerSeasonTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfMatches">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Matches</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfMatches</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfMicroSitesUnderOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Micro Sites Under Operation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfMicroSitesUnderOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfRealEstateUnitsToDeployInFuture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Real Estate Units To Deploy In Future</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfRealEstateUnitsToDeployInFuture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfSeason">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Season</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfSeason</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Selected Teams Against Top Three Spanish Football Clubs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfSelectedTeamsAgainstTopThreeSpanishFootballClubs</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NumberOfThirdPartySites">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Third Party Sites</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NumberOfThirdPartySites</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PaymentTransitionServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payment Transition Services</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PaymentTransitionServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfSites">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of Sites</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfSites</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PeriodInWhichRealEstateUnitsWillBeDeployed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period In Which Real Estate Units Will Be Deployed</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PeriodInWhichRealEstateUnitsWillBeDeployed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Price Renewal, Renewal Of Radio Frequencies Associated With The Provision Of Personal Mobile Services, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Price Renewal, Renewal Of Radio Frequencies Associated With The Provision Of Personal Mobile Services, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PriceRenewalRenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProceedsFromSalesOfInvestmentPropertyExpectedAdditionalConsiderationToBeReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Sales Of Investment Property, Expected Additional Consideration To Be Received</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProceedsFromSalesOfInvestmentPropertyExpectedAdditionalConsiderationToBeReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ProportionofInterconnectionRevenuesContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proportion of Interconnection Revenues, Contingent Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ProportionofInterconnectionRevenuesContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PurchaseOfRealEstateUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Purchase Of Real Estate Units</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PurchaseOfRealEstateUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PurchaseOfRealEstateUnitsToTotalNetworkPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Purchase Of Real Estate Units, To Total Network, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PurchaseOfRealEstateUnitsToTotalNetworkPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RenewableEnergySolarProductionNumberOfModels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Renewable Energy, Solar Production, Number Of Models</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RenewableEnergySolarProductionNumberOfModels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RenewablePowerPurchaseAgreementEnergyPerYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Renewable Power Purchase Agreement, Energy Per Year</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RenewablePowerPurchaseAgreementEnergyPerYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:energyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RenewablePowerPurchaseAgreementPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Renewable Power Purchase Agreement, Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RenewablePowerPurchaseAgreementPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Renewal Of Radio Frequencies Associated With The Provision Of Personal Mobile Services, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RenewalOfRadioFrequenciesAssociatedWithTheProvisionOfPersonalMobileServicesTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ServicesAgreementAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Services Agreement Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ServicesAgreementAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharePurchaseAgreementSettlementPaymentOrReceipt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share Purchase Agreement, Settlement (Payment) Or Receipt</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharePurchaseAgreementSettlementPaymentOrReceipt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SpectrumRecognisedAsOfAcquisitionDatePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Spectrum recognised as of acquisition date, percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SpectrumRecognisedAsOfAcquisitionDatePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TenancyRatioMacroSitesUnderOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tenancy Ratio, Macro Sites Under Operation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TenancyRatioMacroSitesUnderOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_WholesaleAccessServicesAgreementRenewalPeriodAfterTermEndTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Wholesale Access Services Agreement, Renewal Period After Term End, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_WholesaleAccessServicesAgreementRenewalPeriodAfterTermEndTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_WholesaleAccessServicesAgreementTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Wholesale Access Services Agreement, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_WholesaleAccessServicesAgreementTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinancingAxis=tef_SustainableFinancingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancingAxis=tef_SustainableFinancingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfContractsAxis=tef_SecondDivisionOfSpanishFootballChampionshipLeagueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfContractsAxis=tef_SecondDivisionOfSpanishFootballChampionshipLeagueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfContractsAxis=tef_LaLigaTVBarChannelMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfContractsAxis=tef_LaLigaTVBarChannelMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_CornerstoneTelecomunicationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_CornerstoneTelecomunicationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=tef_LibertyGlobalAndInfraViaMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_LibertyGlobalAndInfraViaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementScenarioAxis=srt_ScenarioForecastMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementScenarioAxis=srt_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
</table>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AuditorNameAxis=tef_AuditorsOtherThanPWCMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AuditorNameAxis=tef_AuditorsOtherThanPWCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=tef_OiGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfFinancialLiabilitiesAxis=tef_CommittedPaymentSubjectToCertainTargetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=tef_FiberToTheHomeJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=tef_BoardOfDirectorsChairman1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=tef_BoardOfDirectorsChairman1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=srt_ChiefOperatingOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=srt_ChiefOperatingOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_DAZNMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_DAZNMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_VentenManagementLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_VentenManagementLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_LexburgEnterprisesLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_LexburgEnterprisesLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_ANATELMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_ANATELMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RenewalAxis=tef_RenewalOfRadioFrequencies2013Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RenewalAxis=tef_RenewalOfRadioFrequencies2013Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RenewalAxis=tef_RenewalOfRadioFrequencies2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RenewalAxis=tef_RenewalOfRadioFrequencies2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_RepublicOfColombiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_RepublicOfColombiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ComunicacionesDigitalesSDeRLDeCVMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ComunicacionesDigitalesSDeRLDeCVMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_PegasoPCSSADeCVMember">
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<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_PegasoPCSSADeCVMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AlamoHoldCoSLMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OnnetFibraColombiaSASMember</td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember</td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSpainMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TEFInfraGermanyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TEFGermanyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_AllianzMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_AsterionIndustrialPartnersSGEICMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaInfraSLMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_LibertyGlobalMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_KKRAlamedaAggregatorLPMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_AlamoHoldCoSLMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_VaubanCAAMember</td>
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaIndraSLMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SecondSustainableHybridBondMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SustainableLoanMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_LoanConversionMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_HybridBondMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_HybridBondMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_CommittedCreditFacilitiesAndBilateralLoans</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489806820528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Information - Auditors' Fees (Details) - EUR (&#8364;)<br> &#8364; in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorsRenumerationLineItems', window );"><strong>Auditors Remuneration [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForAuditServices', window );">Audit services</a></td>
<td class="nump">&#8364; 18,710<span></span>
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<td class="nump">&#8364; 18,360<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorsRemunerationForAuditRelatedServices', window );">Audit-related services</a></td>
<td class="nump">1,360<span></span>
</td>
<td class="nump">1,630<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemuneration', window );">Total</a></td>
<td class="nump">20,070<span></span>
</td>
<td class="nump">19,990<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorNameAxis=tef_PwCAuditoresS.L.Member', window );">PwC Auditores, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorsRenumerationLineItems', window );"><strong>Auditors Remuneration [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForAuditServices', window );">Audit services</a></td>
<td class="nump">7,730<span></span>
</td>
<td class="nump">7,390<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorsRemunerationForAuditRelatedServices', window );">Audit-related services</a></td>
<td class="nump">990<span></span>
</td>
<td class="nump">820<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemuneration', window );">Total</a></td>
<td class="nump">8,720<span></span>
</td>
<td class="nump">8,210<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorNameAxis=tef_PwCInternationalOrganizationMember', window );">Other PwC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorsRenumerationLineItems', window );"><strong>Auditors Remuneration [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemunerationForAuditServices', window );">Audit services</a></td>
<td class="nump">10,980<span></span>
</td>
<td class="nump">10,970<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AuditorsRemunerationForAuditRelatedServices', window );">Audit-related services</a></td>
<td class="nump">370<span></span>
</td>
<td class="nump">810<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AuditorsRemuneration', window );">Total</a></td>
<td class="nump">&#8364; 11,350<span></span>
</td>
<td class="nump">&#8364; 11,780<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemuneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemuneration</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AuditorsRemunerationForAuditServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable to the entity's auditors for auditing services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AuditorsRemunerationForAuditServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AuditorsRemunerationForAuditRelatedServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Auditors Remuneration For Audit Related Services</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AuditorsRemunerationForAuditRelatedServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AuditorsRenumerationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Auditors Renumeration [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AuditorsRenumerationLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AuditorNameAxis=tef_PwCAuditoresS.L.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AuditorNameAxis=tef_PwCAuditoresS.L.Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AuditorNameAxis=tef_PwCInternationalOrganizationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807411696">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Information - Schedule of Sustainable Financing (Details) - Sustainable financing<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 15,956.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">2,842.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Senior Green Bond of Telefonica Emisiones</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">1,000.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Senior Sustainable Bond of Telefonica Emisiones</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">1,000.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Sustainability Linked Bonds of Telefonica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">628.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Sustainability Linked Facilities of Colombia Telecomunicaciones</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total carrying amount</a></td>
<td class="nump">214.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Undated Deeply Subordinated Securities Hybrid Instruments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">3,000.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Credit Facilities</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">10,114.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Sustainability Linked Facility of Telefonica S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">5,500.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Sustainability Linked Facility of Telefonica Germany</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">750.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancingAxis=tef_SustainableFinancingMember', window );">Sustainability Linked Bilateral Facilities</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 3,864.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinancingAxis=tef_SustainableFinancingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancingAxis=tef_SustainableFinancingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SeniorGreenBondOfTelefonicaEmisionesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SeniorGreenBondOfTelefonicaEmisionesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SeniorSustainableBondOfTelefonicaEmisionesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SeniorSustainableBondOfTelefonicaEmisionesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedBondsOfTelefonicaBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedBondsOfTelefonicaBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedFacilitiesOfColombiaTelecomunicacionesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedFacilitiesOfColombiaTelecomunicacionesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesHybridInstrumentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesHybridInstrumentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_CreditFacilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_CreditFacilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedFacilityOfTelefonicaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedFacilityOfTelefonicaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedFacilityOfTelefonicaGermanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedBilateralFacilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SustainabilityLinkedBilateralFacilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489768204432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Information - Executive Compensation (Details) - EUR (&#8364;)<br></strong></div></th>
<th class="th" colspan="7">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_TitleOfIndividual1Axis=tef_BoardOfDirectorsChairman1Member', window );">Chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
<td class="nump">&#8364; 1,923,100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember', window );">Board of Directors | Chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">240,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember', window );">Board of Directors | Vice chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember', window );">Board of Directors | Executive Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember', window );">Board of Directors | Proprietary Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember', window );">Board of Directors | Independent Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember', window );">Board of Directors | Other external</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember', window );">Executive Commission | Chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember', window );">Executive Commission | Vice chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember', window );">Executive Commission | Executive Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember', window );">Executive Commission | Proprietary Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember', window );">Executive Commission | Independent Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember', window );">Executive Commission | Other external</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AdvisoryOrControlCommitteesMember', window );">Advisory or Control Committees | Chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">22,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AdvisoryOrControlCommitteesMember', window );">Advisory or Control Committees | Vice chairman</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AdvisoryOrControlCommitteesMember', window );">Advisory or Control Committees | Executive Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AdvisoryOrControlCommitteesMember', window );">Advisory or Control Committees | Proprietary Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">11,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AdvisoryOrControlCommitteesMember', window );">Advisory or Control Committees | Independent Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">11,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AdvisoryOrControlCommitteesMember', window );">Advisory or Control Committees | Other external</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">&#8364; 11,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=tef_BoardOfDirectorsChairman1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=tef_BoardOfDirectorsChairman1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_BoardOfDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=tef_ViceChairmanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=tef_ViceChairmanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=tef_ExecutiveOfficer1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=tef_ExecutiveOfficer1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=tef_ProprietaryOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=tef_ProprietaryOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=tef_IndependentOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=tef_IndependentOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_TitleOfIndividual1Axis=tef_OtherExternalPositionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_TitleOfIndividual1Axis=tef_OtherExternalPositionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_ExecutiveCommissionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_AdvisoryOrControlCommitteesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799947728">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Operations Classified as Held for Sale - Balance Sheet Breakdown Of Asset Held For Sale And Liabilities Assumed (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">&#8364; 7<span></span>
</td>
<td class="nump">&#8364; 358<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">134<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorMember', window );">Telef&#243;nica M&#243;viles El Salvador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">253<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">134<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FiberAssetsInColombiaMember', window );">Fiber optic assets in Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">57<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=ifrs-full_OtherAssetsMember', window );">Other assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners', window );">Non-current assets and disposal groups held for sale</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">48<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OtherLiabilitiesMember', window );">Other liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale', window );">Liabilities associated with non-current assets and disposal groups held for sale</a></td>
<td class="nump">&#8364; 0<span></span>
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<td class="nump">&#8364; 0<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities included in disposal groups classified as held for sale. [Refer: Liabilities; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2022-03-24<br> -Paragraph 38<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=5&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph p<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_p&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale or as held for distribution to owners. [Refer: Non-current assets or disposal groups classified as held for distribution to owners; Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorMember</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OtherLiabilitiesMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799482176">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Operations Classified as Held for Sale - Narrative (Details)<br> &#8364; in Millions, $ in Millions</strong></div></th>
<th class="th">
<div>Jan. 13, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jan. 13, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Oct. 14, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCentroamericaInversionesS.L.Member', window );">Telef&#243;nica Centroam&#233;rica Inversiones ,S.L. | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCentroamericaInversionesS.L.Member', window );">Telef&#243;nica Centroam&#233;rica Inversiones ,S.L. | Corporacion Multi Inversiones, SA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorS.A.deC.V.Member', window );">Telef&#243;nica El Salvador | General International Telecom El Salvador, S.A. De C.V. | Telef&#243;nica Centroam&#233;rica Inversiones ,S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityTransferedAsConsideration', window );">Proportion of voting equity transferred (as a percent)</a></td>
<td class="nump">9930.00%<span></span>
</td>
<td class="nump">9930.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ConsiderationPaidReceived', window );">Consideration received</a></td>
<td class="nump">$ 139<span></span>
</td>
<td class="nump">&#8364; 121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ConsiderationPaidReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of consideration paid or received in respect of both obtaining and losing control of subsidiaries or other businesses. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 40<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_40_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ConsiderationPaidReceived</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in a subsidiary held by the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 19B<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInSubsidiary</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfVotingEquityTransferedAsConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Voting Equity Transfered As Consideration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfVotingEquityTransferedAsConsideration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCentroamericaInversionesS.L.Member</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_CorporacionMultiInversionesSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_CorporacionMultiInversionesSAMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorS.A.deC.V.Member</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_GeneralInternationalTelecomElSalvadorSADeCVMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_GeneralInternationalTelecomElSalvadorSADeCVMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaCentroamericaInversionesS.L.Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781830256">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Operations Classified as Held for Sale - Breakdown of Assets Held-for-Sale and Liabilities Assumed (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">NON-CURRENT ASSETS</a></td>
<td class="nump">&#8364; 87,053<span></span>
</td>
<td class="nump">&#8364; 84,284<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="nump">12,017<span></span>
</td>
<td class="nump">11,725<span></span>
</td>
<td class="nump">&#8364; 11,488<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="nump">18,471<span></span>
</td>
<td class="nump">16,519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="nump">23,714<span></span>
</td>
<td class="nump">22,725<span></span>
</td>
<td class="nump">23,769<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="nump">8,279<span></span>
</td>
<td class="nump">7,579<span></span>
</td>
<td class="nump">4,982<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="nump">8,101<span></span>
</td>
<td class="nump">7,347<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="nump">4,884<span></span>
</td>
<td class="nump">5,616<span></span>
</td>
<td class="nump">6,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">CURRENT ASSETS</a></td>
<td class="nump">22,589<span></span>
</td>
<td class="nump">24,929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="nump">1,546<span></span>
</td>
<td class="nump">1,749<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Receivables and other current assets</a></td>
<td class="nump">7,340<span></span>
</td>
<td class="nump">6,903<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Tax receivables</a></td>
<td class="nump">2,213<span></span>
</td>
<td class="nump">2,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="nump">2,444<span></span>
</td>
<td class="nump">3,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">7,245<span></span>
</td>
<td class="nump">8,580<span></span>
</td>
<td class="nump">5,604<span></span>
</td>
<td class="nump">&#8364; 6,042<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non current liabilities</a></td>
<td class="nump">54,834<span></span>
</td>
<td class="nump">55,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="nump">35,059<span></span>
</td>
<td class="nump">35,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="nump">6,657<span></span>
</td>
<td class="nump">6,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPayables', window );">Payable and other non-current liabilities</a></td>
<td class="nump">1,914<span></span>
</td>
<td class="nump">1,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="nump">3,067<span></span>
</td>
<td class="nump">2,602<span></span>
</td>
<td class="nump">&#8364; 2,620<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisions', window );">Non-current provisions</a></td>
<td class="nump">6,505<span></span>
</td>
<td class="nump">7,662<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="nump">23,100<span></span>
</td>
<td class="nump">25,495<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="nump">4,020<span></span>
</td>
<td class="nump">7,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="nump">2,020<span></span>
</td>
<td class="nump">1,679<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Payables and other current liabilities</a></td>
<td class="nump">&#8364; 12,018<span></span>
</td>
<td class="nump">11,872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember', window );">Disposal groups classified as held for sale | T. M&#243;viles El Salvador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">NON-CURRENT ASSETS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">79<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RightofuseAssets', window );">Rights of use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets', window );">Financial assets and other non-current assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">CURRENT ASSETS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Receivables and other current assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsCurrent', window );">Tax receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssets', window );">Other current financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Non-current financial liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentLeaseLiabilities', window );">Non-current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentPayables', window );">Payable and other non-current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisions', window );">Non-current provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">71<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Current financial liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CurrentLeaseLiabilities', window );">Current lease liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Payables and other current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 32<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B13<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expiry date 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.
Effective 2023-01-01: The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have the right at the end of the reporting period to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph n<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph o<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 56<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 134<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2022-03-24<br> -Paragraph 135<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=36&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B67<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2022-03-24<br> -Paragraph 118<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=38&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 36<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph g<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 68<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 66<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 25<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current lease liabilities. [Refer: Lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B10<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 69<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade payables and non-current other payables. [Refer: Other non-current payables; Non-current trade payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions, including provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph l<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 73<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RightofuseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 16<br> -IssueDate 2022-03-24<br> -Paragraph 53<br> -Subparagraph j<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=16&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_53_j&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RightofuseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph k<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph h<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Non-Current Financial Assets And Other Non-Current Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NonCurrentFinancialAssetsAndOtherNonCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAndLiabilitiesClassifiedAsHeldForSaleAxis=ifrs-full_DisposalGroupsClassifiedAsHeldForSaleMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781124656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Events After the Reporting Period - Narrative (Details) - EUR (&#8364;)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 23, 2023</div></th>
<th class="th"><div>Jan. 18, 2023</div></th>
<th class="th"><div>Jan. 17, 2023</div></th>
<th class="th"><div>Feb. 01, 2022</div></th>
<th class="th"><div>Jan. 31, 2023</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Nov. 30, 2022</div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Feb. 14, 2023</div></th>
<th class="th"><div>Jan. 13, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 83,706.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 83,706.0<span></span>
</td>
<td class="nump">&#8364; 84,794.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings, classified as financing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,077.0<span></span>
</td>
<td class="nump">4,146.0<span></span>
</td>
<td class="nump">&#8364; 2,852.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2024Member', window );">Exercisable from issuer in 2024 | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000.0<span></span>
</td>
<td class="nump">&#8364; 1,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member', window );">Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,167.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 32,167.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PontelParticipacionesSLMember', window );">Pontel Participaciones, S.L. Holding company | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">83.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PontelParticipacionesSLMember', window );">Pontel Participaciones, S.L. Holding company | Pontegadea Inversiones, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A. | Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEuropeB.V.Member', window );">Telefonica Europe, B.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 129.0<span></span>
</td>
<td class="nump">&#8364; 621.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_FacilityAgreementMember', window );">Facility Agreement | Telef&#243;nica, S.A. | Syndicated Loan Due January 13, 2028</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,500.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_AcquisitionOfShareCapitalMember', window );">Acquisition Of Share Capital | Pontel Participaciones, S.L. Holding company | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="nump">83.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_AcquisitionOfShareCapitalMember', window );">Acquisition Of Share Capital | Pontel Participaciones, S.L. Holding company | Pontegadea Inversiones, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="nump">16.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_AcquisitionOfShareCapitalMember', window );">Acquisition Of Share Capital | Telxius Telecom, S.A. | Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary', window );">Proportion of voting rights held in subsidiary (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_RedemptionofnotesMember', window );">Redemption of notes | Telef&#243;nica Emisiones, S.A.U. | Notes issued January 22, 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayments of borrowings, classified as financing activities</a></td>
<td class="nump">&#8364; 1,277.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_ShareCapitalTransactionsMember', window );">Share Capital Transactions | Subordinated Securities, Issued February 2023 | Gross cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_ShareCapitalTransactionsMember', window );">Share Capital Transactions | Telefonica Europe, B.V. | Exercisable from issuer in 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,250.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">388.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_ShareCapitalTransactionsMember', window );">Share Capital Transactions | Telefonica Europe, B.V. | Exercisable from issuer in 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_AmountRepurchasedofEquityInstrument', window );">Amount repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 612.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_NewDebtAgreementMember', window );">New Debt Agreement | Telef&#243;nica, S.A. | Bilateral Loan Due 2033</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 150.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_TaurusBidcoSARLMember', window );">Taurus Bidco S.A.R.L. | Telxius Telecom, S.A. | Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_TaurusBidcoSARLMember', window );">Taurus Bidco S.A.R.L. | Acquisition Of Share Capital | Telxius Telecom, S.A. | Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInformationLineItems', window );"><strong>Entity Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInformationLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<tr>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in a subsidiary held by the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 19B<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph d<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_AmountRepurchasedofEquityInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount Repurchased of Equity Instrument</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_AmountRepurchasedofEquityInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2024Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2024Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PontelParticipacionesSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PontelParticipacionesSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_PontegadeaInversionesSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_PontegadeaInversionesSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_PontelParticipacionesSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_PontelParticipacionesSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEuropeB.V.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEuropeB.V.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_FacilityAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_FacilityAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueJanuary132028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SyndicatedLoanDueJanuary132028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_AcquisitionOfShareCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_AcquisitionOfShareCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_RedemptionofnotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_RedemptionofnotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_NotesIssuedJanuary222013Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_NotesIssuedJanuary222013Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_ShareCapitalTransactionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_ShareCapitalTransactionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_SubordinatedSecuritiesIssuedFebruary2023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_SubordinatedSecuritiesIssuedFebruary2023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_UndatedDeeplySubordinatedSecuritiesExercisableFromIssuerIn2023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_NewDebtAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=tef_NewDebtAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDue2033Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDue2033Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_TaurusBidcoSARLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_TaurusBidcoSARLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489665525792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix I: Scope of Consolidation - Main Consolidated Companies of the Telefonica Group (Details)<br> &#8364; in Millions, &#8360; in Millions, &#1083;&#1074; in Millions, &#1076;&#1080;&#1085; in Millions, &#165; in Millions, &#163; in Millions, kr in Millions, kr in Millions, kr in Millions, kn in Millions, VEF in Millions, SFr in Millions, S/ in Millions, R$ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="19"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>VEF</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>COP ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>MXN ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>ARS ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>CLP ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>PEN (S/)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>UYU ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>GBP (&#163;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BGN (&#1083;&#1074;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>INR (&#8360;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>SEK (kr)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>CHF (SFr)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>DKK (kr)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>NOK (kr)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>RSD (&#1076;&#1080;&#1085;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>HRK (kn)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>CNY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 31,708<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 28,684<span></span>
</td>
<td class="nump">&#8364; 18,260<span></span>
</td>
<td class="nump">&#8364; 25,450<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">11,587<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 12,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeEspanaMember', window );">Telefonica de Espana [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 1,024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesEspanaMember', window );">Telef&#243;nica M&#243;viles Espa&#241;a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 209<span></span>
</td>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TeleinformaticayComunicacionesMember', window );">Teleinformatica y Comunicaciones [Member]</a></td>
<td class="text">&#160;<span></span>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 8<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSolucionesdeInformaticayCom.deEspanaMember', window );">Telefonica Soluciones de Informatica y Com. de Espana [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSolucionesdeOutsourcingMember', window );">Telefonica Soluciones de Outsourcing [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServiciosIntegralesdeDistribucionMember', window );">Telefonica Servicios Integrales de Distribucion [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeContenidosS.A.U.Member', window );">Telef&#243;nica de Contenidos, S.A.U. Organization and operation of multimedia service-related business</a></td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 226<span></span>
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<td class="text">&#160;<span></span>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServiciosAudiovisualesMember', window );">Telefonica Servicios Audiovisuales [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBroadcastServicesMember', window );">Telefonica Broadcast Services [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TBSCBarcelonaProduccionesSLUMember', window );">TBSC Barcelona Producciones, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaAudiovisualDigitalSLUMember', window );">Telef&#243;nica Audiovisual Digital, S.L.U. Provision of all type of audiovisual telecommunications services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 46<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalTechnologyMember', window );">Telefonica Global Technology [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEducacionDigitalMember', window );">Telefonica Educacion Digital [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 68<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">55.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Telef&#243;nica Espa&#241;a Filiales, S.A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Telef&#243;nica Infra, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_Solar360SolucionesDeInstalacionYMantenimientoSLMember', window );">Solar360 Soluciones De Instalacion y Mantenimiento S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">51.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeutschlandHoldingMember', window );">Telef&#243;nica Deutschland Holding, A.G.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 2,975<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">70.58%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeutschlandHoldingMember', window );">Telef&#243;nica Deutschland Holding, A.G. | Telef&#243;nica Germany Holdings Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">69.22%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeutschlandHoldingMember', window );">Telef&#243;nica Deutschland Holding, A.G. | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">1.36%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 51<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">70.58%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG | Telef&#243;nica Deutschland Holding A.G.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">70.57%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG | T Germany Management GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_EPlusMember', window );">E-Plus [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">70.58%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyNextGmbHMember', window );">Telef&#243;nica Germany Next GmbH Technological and consulting services in Big Data provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">70.58%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_O2TelefonicaDeutschlandFinanzierungsGmbHMember', window );">O2 Telef&#243;nica Deutschland Finanzierungs, GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">70.58%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 63,571<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">3783.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Telef&#243;nica Latinoam&#233;rica Holding, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">3631.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrazilMember', window );">Telef&#243;nica Brazil | Telef&#243;nica Chile, S.A.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">6.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TerraNetworksBrasilMember', window );">Terra Networks Brasil [Member]</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">74.79%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaInfrastructuraeSegurancaBrasilLtdaMember', window );">Telef&#244;nica Infraestructura e Seguran&#231;a Brasil Ltda. Security services and systems</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">74.79%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember', window );">Garliava RJ Infraestrutura E Redes De Telecomunicacoes S.A. Wireline Telephony Operator</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VivoVenturesFundoDeInvestimentoEmParticipacoesMultiestrategiaMember', window );">Vivo Ventures Fundo De Investimento Em Participacoes Multiestrategia</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">75.29%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VivoVenturesFundoDeInvestimentoEmParticipacoesMultiestrategiaMember', window );">Vivo Ventures Fundo De Investimento Em Participacoes Multiestrategia | Telef&#244;nica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">7329.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VivoVenturesFundoDeInvestimentoEmParticipacoesMultiestrategiaMember', window );">Vivo Ventures Fundo De Investimento Em Participacoes Multiestrategia | Telefonica Open Innovation S.L.</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">200.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VitaITComercioEServicosDeSolucoesEmTILtdaMember', window );">Vita IT Comercio E Servicos De Solucoes Em TI Ltda</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaHispanoamericaMember', window );">Telef&#243;nica Hispam Norte</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 78<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TLHHoldcoSLMember', window );">TLH Holdco S.L.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaVenezolanaMember', window );">Telefonica Venezolana</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | VEF</a></td>
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</td>
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</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaVenezolanaMember', window );">Telefonica Venezolana | Telef&#243;nica Hispanoam&#233;rica, S.A.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">86.72%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaVenezolanaMember', window );">Telefonica Venezolana | Comtel Comunicaciones Telef&#243;nicas, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">2.56%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesMember', window );">Colombia Telecomunicaciones, S.A., ESP</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">67.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OperacionesTecnologicasyComercialesS.A.S.Member', window );">Operaciones Tecnol&#243;gicas y Comerciales S.A.S Communications services operator</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,330<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">67.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PegasoPcsSADeCVMember', window );">Pegaso Pcs S.A. de CV</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,405<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PegasoPcsSADeCVMember', window );">Pegaso Pcs S.A. de CV | Telef&#243;nica Hispanoam&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">99.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PegasoPcsSADeCVMember', window );">Pegaso Pcs S.A. de CV | Celular de Telefon&#237;a S.A. de CV.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TerraNetworksMexicoS.A.deC.V.Member', window );">Terra Networks M&#233;xico, S.A. de C.V. ISP, portal and real-time financial information services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">305<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FisatelMexicoMember', window );">Terra Networks M&#233;xico, S.A. de C.V. ISP, portal and real-time financial information services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,505<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FisatelMexicoMember', window );">Terra Networks M&#233;xico, S.A. de C.V. ISP, portal and real-time financial information services | Telef&#243;nica Hispanoam&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">99.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FisatelMexicoMember', window );">Terra Networks M&#233;xico, S.A. de C.V. ISP, portal and real-time financial information services | Pegaso Pcs S.A. de CV</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OtecelMember', window );">Otecel, S.A. Wireless communications services provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 183<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeArgentinaSAMember', window );">Telef&#243;nica de Argentina, S.A. Telecommunications service provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 239,296<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeArgentinaSAMember', window );">Telef&#243;nica de Argentina, S.A. Telecommunications service provider | Telef&#243;nica M&#243;viles Argentina, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">77.64%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeArgentinaSAMember', window );">Telef&#243;nica de Argentina, S.A. Telecommunications service provider | TLH Holdco S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">22.36%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesArgentinaS.A.Member', window );">Telef&#243;nica M&#243;viles Argentina, S.A. Telecommunications service provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesChileS.A.Member', window );">Telef&#243;nica Emisiones, S.A.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,364,872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesChileS.A.Member', window );">Telef&#243;nica Emisiones, S.A.U. | Telef&#243;nica Hispanoam&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">1.04%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesChileS.A.Member', window );">Telef&#243;nica Emisiones, S.A.U. | Inversiones Telef&#243;nica Internacional Holding SpA.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">98.96%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileS.A.Member', window );">Telef&#243;nica Chile, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">809,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">99.34%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaChileHoldingsMember', window );">Telef&#243;nica Chile Holdings, S.L. Holding Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadelPeruSAAMember', window );">Telef&#243;nica Chile Holdings, S.L.U. Holding Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | S/</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">S/ 2,107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">98.94%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_MediaNetworksLatinAmericaMember', window );">Telef&#243;nica del Per&#250;, S.A.A. Local, domestic and international long distance telephone service provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | S/</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesdelUruguaySAMember', window );">Media Networks Latin America, S.A.C Telecommunications research activities and proyects</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaInfraSLMember', window );">Telef&#243;nica Infra, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaInfraGermanyGmbHMember', window );">Telef&#243;nica Infra Germany GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">99.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaO2HoldingsLtdMember', window );">Telef&#243;nica O2 Holdings Ltd. Holding company | Telef&#243;nica Capital S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_MM02PlcMember', window );">MmO2 plc Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_O2InternationalHoldingsMember', window );">O2 International Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_O2NetherlandsHoldingsBVMember', window );">O2 (Netherlands ) Holdings BV. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGermanyHoldingsMember', window );">Telef&#243;nica Germany Holdings Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 3,463<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_O2EuropeLimitedMember', window );">O2 (Europe) Ltd. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 6,895<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaInternationalHoldingMember', window );">Telef&#243;nica International Holding, B.V Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaLatinoamericaHoldingMember', window );">Telef&#243;nica Latinoam&#233;rica Holding, S.L. Sociedad holding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 291<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalSolutionsSLUMember', window );">Telefonica Global Solutions, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalSolutionsUSAMember', window );">Telefonica Global Solutions USA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">202<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalSolutionsGermanyGmbHMember', window );">Telefonica Global Solutions Germany GmbH.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalSolutionsMexicoSAMember', window );">Telef&#243;nica Digital Espa&#241;a, S.L. Developer Telco Services Holding Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDigitalEspanaMember', window );">Telef&#243;nica Digital Ltd. Developer Telco Services</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDigitalLtd.Member', window );">Telefonica Open Innovation S.L. Talent identification and development in ICT.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
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<td class="nump">45<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaOpenInnovationSLMember', window );">Telefonica Open Innovation S.L.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 2<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraChileTechnologiaeInnovacionLimitadaMember', window );">Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda Technological innovation based business project development</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
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<td class="nump">29,899<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraBrasilAceleradoradeProjetosLtdaMember', window );">WY Telecom, S.A. de C.V. Talent identification and development in ICT</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WYTelecomMember', window );">Wayra Argentina, S.A. Talent identification and development in ICT</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
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<td class="nump">173<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraArgentinaMember', window );">Wayra Colombia, S.A.S. Technological innovation based business project development</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
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<td class="nump">1,133<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraArgentinaMember', window );">Wayra Colombia, S.A.S. Technological innovation based business project development | Telef&#243;nica, S.A.</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraArgentinaMember', window );">Wayra Colombia, S.A.S. Technological innovation based business project development | Telefonica Open Innovation S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">95.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraColombiaMember', window );">Proyecto Wayra, C.A. Commercial, industrial and mercantile activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">2,304<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProyectoWayraMember', window );">Wayra Per&#250; Aceleradora de Proyectos, S.A.C. Technological innovation based business project development</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | VEF</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraPeruAceleradoradeProyectosMember', window );">Wayra UK Ltd. Technological innovation based business project development</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | S/</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_WayraUKMember', window );">Terra Networks Per&#250;, S.A. ISP and portal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TerraNetworksPeruS.A.Member', window );">Terra Networks Argentina, S.A. ISP and portal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | S/</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TerraNetworksArgentinaS.A.Member', window );">Telfisa Global, B.V. Integrated cash management, consulting and financial support for Group companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 43<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TerraNetworksArgentinaS.A.Member', window );">Telfisa Global, B.V. Integrated cash management, consulting and financial support for Group companies | Telef&#243;nica Latinoam&#233;rica Holding, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">99.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TerraNetworksArgentinaS.A.Member', window );">Telfisa Global, B.V. Integrated cash management, consulting and financial support for Group companies | Telef&#243;nica International Holding, B.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelfisaGlobalMember', window );">Telef&#243;nica Global Activities Holding, B.V. Holding Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalActivitiesMember', window );">Telef&#243;nica Global Services, GmbH Purchasing services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalServicesMember', window );">Telef&#243;nica Global Roaming, GmbH Optimization of network traffic</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalRoamingMember', window );">Group 3G UMTS Holding GmbH Holding Company</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_Group3GUMTSHoldingMember', window );">Telef&#243;nica Compras Electr&#243;nicas, S.L. Development and provision of information Society services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaComprasElectronicasMember', window );">Telefonica Iot &amp; Big Data Tech S.A. Provision of telemarketing services</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaIotBigDataTechSAMember', window );">Telefonica Iot &amp; Big Data Tech S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GepromSoftwareEngineeringSLMember', window );">Geprom Software Engineering S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GepromSoftwareEngineeringSAMember', window );">Geprom Software Engineering S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelfinIrelandMember', window );">Telfin Ireland</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaIngenieriadeSeguridadMember', window );">Telfin Ireland DAC. Intragroup financing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TISHispanoamericaSLMember', window );">TIS Hispanoamerica, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCapitalMember', window );">Telef&#243;nica Ingenier&#237;a de Seguridad, S.A.U. Security services and systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_LotcaServiciosIntegralesMember', window );">TIS Hispanoam&#233;rica, S.L. Security services and systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FonditelPensionesEntidadGestoradeFondosdePensionesMember', window );">Telef&#243;nica Capital, S.A.U. Finance company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FonditelGestionSoc.GestoradeInstitucionesdeInversionColectivaMember', window );">Lotca Servicios Integrales, S.L. Aircraft ownership and operation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaInvestigacionyDesarrolloMember', window );">Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A Administration of pension funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaLuxembourgHoldingMember', window );">Fonditel Gesti&#243;n, Soc. Gestora de Instituciones de Inversi&#243;n Colectiva, S.A. Administration and representation of collective investment schemes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_NovaCasiopeaREMember', window );">Telef&#243;nica Investigaci&#243;n y Desarrollo, S.A.U. Telecommunications research activities and projects</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSegurosYReasegurosCompaniaAseguradoraMember', window );">Telefonica Seguros y Reaseguros Compa&#241;ia Aseguradora</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFinanzasMember', window );">Nova Casiopea RE S.A. Reinsurance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCorreduriaDeSegurosYReasegurosCompaniaDeMediacionMember', window );">Telef&#243;nica Seguros y Reaseguros Compa&#241;&#237;a Aseguradora, S.A.U. Realizaci&#243;n de operaciones de seguros directos</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCorreduriaDeSegurosYReasegurosCompaniaDeMediacionMember', window );">Telef&#243;nica Seguros y Reaseguros Compa&#241;&#237;a Aseguradora, S.A.U. Realizaci&#243;n de operaciones de seguros directos | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">16.67%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCorreduriaDeSegurosYReasegurosCompaniaDeMediacionMember', window );">Telef&#243;nica Seguros y Reaseguros Compa&#241;&#237;a Aseguradora, S.A.U. Realizaci&#243;n de operaciones de seguros directos | Telef&#243;nica Finanzas, S.A.U. (TELFISA)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">83.33%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEuropeB.V.Member', window );">Telefonica Europe, B.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaParticipacionesS.A.U.Member', window );">Telef&#243;nica Participaciones, S.A.U. Financial debt instrument issuer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesMember', window );">Telefonica Emisiones S.A.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AliancaAtlanticaHoldingMember', window );">Alianca Atlantica Holding B.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">87.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AliancaAtlanticaHoldingMember', window );">Alianca Atlantica Holding B.V. | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AliancaAtlanticaHoldingMember', window );">Alianca Atlantica Holding B.V. | Telef&#244;nica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">37.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServicosEmpresarialsdoBRASILLtdaMember', window );">Telef&#243;nica Servi&#231;os Empresariais do BRASIL, Ltda.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGestionIntegraldeEdificiosyServiciosMember', window );">Telef&#243;nica Gesti&#243;n Integral de Edificios y Servicios S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 29<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TempotelEmpresadeTrabajoTemporalMember', window );">Tempotel, Empresa de Trabajo Temporal, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_O2WorldwideLimitedMember', window );">O2 Worldwide Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServiciosGlobalesMember', window );">Telefonica Servicios Globales S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaHoldingAtticusMember', window );">Telefonica Holding Atticus, B.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSolucionesdeCriptografiaS.A.Member', window );">Telef&#243;nica Soluciones de Criptograf&#237;a, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCentroamericaInversionesS.L.Member', window );">Telef&#243;nica Centroam&#233;rica Inversiones ,S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechSLMember', window );">Telef&#243;nica Tech S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefnicaCybersecurityCloudTechSLMember', window );">Telef&#243;nica Cybersecurity &amp; Cloud Tech SL.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityCloudTechChileSpAMember', window );">Telef&#243;nica Cybersecurity &amp; Cloud Tech Chile SpA.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
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<td class="nump">25,301<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefnicaTechIncMember', window );">Telef&#243;nica Tech Inc.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_IHackLabsLtdMember', window );">iHackLabs Ltd.</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AudertisAuditServicesSLMember', window );">Audertis Audit Services S.L.</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GovertisAdvisoryServicesSLMember', window );">Govertis Advisory Services S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityTechColombiaSASMember', window );">Telefonica Cybersecurity Tech Colombia S.A.S.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">406<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityTechMexicoSADeCVMember', window );">Telefonica Cybersecurity Tech Mexico, S.A de C.V.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCibersegurancaETecnologiaDoBrasilLtdaMember', window );">Telef&#244;nica Ciberseguran&#231;a e Tecnolog&#237;a do Brasil Ltda</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | R$</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityTechPerSACMember', window );">Telef&#243;nica Cybersecurity &amp; Cloud Tech Per&#250; S.A.C</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | S/</a></td>
<td class="text">&#160;<span></span>
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</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityTechEcuadorTctechSAMember', window );">Telefonica Cybersecurity Tech Ecuador Tctech S.A.</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityTechEcuadorTctechSAMember', window );">Telefonica Cybersecurity Tech Ecuador Tctech S.A. | Otecel, S.A.</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">99.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityTechEcuadorTctechSAMember', window );">Telefonica Cybersecurity Tech Ecuador Tctech S.A. | Telefonica Global Solutions Ecuador TGSE, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityCloudTechDeutschlandGmbHMember', window );">Telefonica Cybersecurity &amp; Cloud Tech Deutschland GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AcensTechnologiesMember', window );">Telef&#243;nica Cybersecurity &amp; Cloud Tech Deutschland GmbH Cybersecurity, electronic information security and IT consulting</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AltostratusSolutionsSLMember', window );">Altostratus Solutions, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKIrelandLimitedMember', window );">Telef&#243;nica Tech UK &amp; Ireland</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKHoldingsLimitedMember', window );">Telefonica Tech UK Holdings Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKTOGLimitedMember', window );">Telefonica Tech UK TOG Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKManagedServicesLimitedMember', window );">Telefonica Tech UK Managed Services Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKLimitedMember', window );">Telefonica Tech UK Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechNorthernIrelandHoldingsLimitedMember', window );">Telefonica Tech Northern Ireland Holdings Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechCommunicationCollaborationLimitedMember', window );">Telefonica Tech Communication &amp; Collaboration Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechNorthernIrelandLimitedMember', window );">Telefonica Tech Northern Ireland Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechIrelandLimitedMember', window );">Telefonica Tech Ireland Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechOceanLimitedMember', window );">Telefonica Tech Ocean Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PerpetualTopcoLimitedMember', window );">Perpetual Topco Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PerpetualMidcoLimitedMember', window );">Perpetual Midco Limited</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PerpetualBidcoLimitedMember', window );">Perpetual Bidco Limited</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_IncrementalGroupHoldingsLimitedMember', window );">Incremental Group Holdings Limited</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisBGLTDMember', window );">Adatis BG LTD</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#1083;&#1074;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">&#1083;&#1074; 0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisIndiaPrivateLimitedMember', window );">Adatis India Private Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#8360;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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<td class="nump">&#8360; 0<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisIndiaPrivateLimitedMember', window );">Adatis India Private Limited | Adatis Group Limited</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">99.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisIndiaPrivateLimitedMember', window );">Adatis India Private Limited | Adatis Consulting Limited</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_KumoAnalyticsLimitedMember', window );">Kumo Analytics Limited</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
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<td class="nump">0<span></span>
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<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisManagedServicesLimitedMember', window );">Adatis Managed Services Limited</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#163;</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAccelerationHoldingGmbHMember', window );">BE-terna Acceleration Holding GmbH</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAccelerationGmbHMember', window );">BE-terna Acceleration GmbH</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaEnhancementGmbHMember', window );">BE-terna Enhancement GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaGermanyGmbHMember', window );">BE-terna Germany GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaABSwedenMember', window );">BE-terna AB (Sweden)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | kr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">kr 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BoydakAutomationAGMember', window );">Boydak Automation AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | SFr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">SFr 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaApSDenmarkMember', window );">BE-terna ApS (Denmark)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | kr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">kr 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaBVNetherlandsMember', window );">BE-terna B.V. (Netherlands)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaGmbHLeipzigMember', window );">BE-terna GmbH (Leipzig)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAustriaGmbHMember', window );">BE-terna Austria GmbH</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaGmbHInnsbruckMember', window );">BE-terna GmbH (Innsbruck)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PipolASMember', window );">Pipol A/S</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | kr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">kr 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaASNorwayMember', window );">BE-terna A/S (Norway)</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | kr</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">kr 0<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaBusinessSolutionsGmbHMember', window );">BE-terna Business Solutions GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaIndustrySolutionsGmbHMember', window );">BE-terna Industry Solutions GmbH</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAGSwitzerlandMember', window );">BE-terna AG (Switzerland)</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | SFr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">SFr 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAdriaticMember', window );">BE-terna Adriatic</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaBelgradeSerbiaMember', window );">BE-terna Belgrade (Serbia)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | &#1076;&#1080;&#1085;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#1076;&#1080;&#1085; 13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaLjubijanaSloveniaMember', window );">BE-terna Ljubijana (Slovenia)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaZagrebCroatiaMember', window );">BE-terna Zagreb (Croatia)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | kn</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">kn 2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PontelParticipacionesSLMember', window );">Pontel Participaciones, S.L. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">83.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 260<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableAmericaS.A.Member', window );">Telxius Cable Am&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableEspanaSLUMember', window );">Telxius Cable Espa&#241;a, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity</a></td>
<td class="nump">&#8364; 5<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableRepublicaDominicanaS.A.S.Member', window );">Telxius Cable Rep&#250;blica Dominicana, S.A.S.</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
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<td class="nump">6<span></span>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableRepublicaDominicanaS.A.S.Member', window );">Telxius Cable Rep&#250;blica Dominicana, S.A.S. | Telxius Cable Am&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
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</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">49.51%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableRepublicaDominicanaS.A.S.Member', window );">Telxius Cable Rep&#250;blica Dominicana, S.A.S. | Telxius Cable Espa&#241;a, S.L.U.</a></td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableArgentinaS.A.Member', window );">Telxius Cable Argentina, S.A.</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">78<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableArgentinaS.A.Member', window );">Telxius Cable Argentina, S.A. | Telxius Cable Am&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">49.98%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableArgentinaS.A.Member', window );">Telxius Cable Argentina, S.A. | Telxius Cable Espa&#241;a, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.03%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCablePanamaS.A.Member', window );">Telxius Cable Panam&#225;, S.A. Installation and operation of telecommunications networks for wholesalers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCablePuertoRicoInc.Member', window );">Telxius Cable Puerto Rico, Inc. High capacity optical fibre network communications services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableUSAInc.Member', window );">Telxius Cable USA, Inc. High bandwidth communications services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">58<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableEcuadorS.A.Member', window );">Telxius Cable Ecuador, S.A. Sale of usage of data transmission capacity via an underwater optical fibre network</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableChileS.A.Member', window );">Telxius Cable Chile S.A. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableGuatemalaS.A.Member', window );">Telxius Cable Guatemala, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCablePeruS.A.C.Member', window );">Telxius Cable Per&#250;, S.A.C.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableColombiaS.A.Member', window );">Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableColombiaS.A.Member', window );">Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Am&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">47.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableColombiaS.A.Member', window );">Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Chile S.A. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.83%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableColombiaS.A.Member', window );">Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Per&#250;, S.A.C.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.84%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableColombiaS.A.Member', window );">Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Guatemala, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.83%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableColombiaS.A.Member', window );">Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Telxius Cable Argentina, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableBrasilParticipacoesLtda.Member', window );">Telxius Cable Brasil Participa&#231;oes, Ltda. Holding company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">62<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableBrasilLtda.Member', window );">Telxius Cable Brasil, Ltda. Operation and deployment of telecommunications infrastructure</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableBoliviaSAMember', window );">Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Equity', window );">Equity | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableBoliviaSAMember', window );">Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | Telxius Cable Am&#233;rica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">49.01%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableBoliviaSAMember', window );">Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | Telxius Cable Espa&#241;a, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusCableBoliviaSAMember', window );">Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | Telxius Cable Argentina, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">43.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A. | Telef&#243;nica Infra, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A. | Telef&#243;nica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">18.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VivaEEducacaoDigitalSAMember', window );">VivaE Educa&#231;&#227;o Digital S.A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">37.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_HoldCoInfraCoSpAMember', window );">HoldCo infraCo SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">39.74%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,067<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InfraCoSpAMember', window );">InfraCo, SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">39.74%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,067<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringEspanaSAMember', window );">Telef&#243;nica Factoring Espa&#241;a, S.A. Factoring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringDoBrasilLtdMember', window );">Telef&#243;nica Factoring Do Brasil, Ltd. Factoring services provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | R$</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringDoBrasilLtdMember', window );">Telef&#243;nica Factoring Do Brasil, Ltd. Factoring services provider | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringDoBrasilLtdMember', window );">Telef&#243;nica Factoring Do Brasil, Ltd. Factoring services provider | Telef&#243;nica Factoring Espa&#241;a, S.A. Factoring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringMexicoSAdeCVSOFOMENRMember', window );">Telef&#243;nica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringMexicoSAdeCVSOFOMENRMember', window );">Telef&#243;nica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">40.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringMexicoSAdeCVSOFOMENRMember', window );">Telef&#243;nica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | Telef&#243;nica Factoring Espa&#241;a, S.A. Factoring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">9.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringPeruSACMember', window );">Telef&#243;nica Factoring Per&#250;, S.A.C. Factoring services provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | S/</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringPeruSACMember', window );">Telef&#243;nica Factoring Per&#250;, S.A.C. Factoring services provider | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">40.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringPeruSACMember', window );">Telef&#243;nica Factoring Per&#250;, S.A.C. Factoring services provider | Telef&#243;nica Factoring Espa&#241;a, S.A. Factoring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">9.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringColombiaSAMember', window );">Telef&#243;nica Factoring Colombia, S.A. Factoring services provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringColombiaSAMember', window );">Telef&#243;nica Factoring Colombia, S.A. Factoring services provider | Telef&#243;nica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">40.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringColombiaSAMember', window );">Telef&#243;nica Factoring Colombia, S.A. Factoring services provider | Telef&#243;nica Factoring Espa&#241;a, S.A. Factoring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">9.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaFactoringChileSpAMember', window );">Telef&#243;nica Factoring Chile, SpA. Factoring services provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 547<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_MobileFinancialServicesHoldingSPRLMember', window );">Mobile Financial Services Holding SPRL Financial services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_MobileFinancialServicesHoldingSPRLMember', window );">Mobile Financial Services Holding SPRL Financial services | Telefonica Internacional Holding, B.V</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">26.28%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_MobileFinancialServicesHoldingSPRLMember', window );">Mobile Financial Services Holding SPRL Financial services | Telefonica Holding Atticus, B.V</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">23.72%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaConsumerFinanceEstablecimientoFinancierodeCreditoSAMember', window );">Telef&#243;nica Consumer Finance, Establecimiento Financiero de Cr&#233;dito, S.A. Specialised credit institution</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_MovistarConsumerFinanceColombiaSASMember', window );">Movistar Consumer Finance Colombia SAS.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">27.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OnnetFibraColombiaSASMember', window );">Onnet Fibra Colombia S.A.S.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">27.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 45,852<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TheSmartStepsDataTechnologyCompanyMember', window );">The Smart Steps Data Technology Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">37.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InternetParaTodosSACMember', window );">Internet para todos S.A.C</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">54.09%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | S/</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">S/ 364<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProsegurAlarmasEspaaSLMember', window );">Movistar Prosegur Alarmas</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProsegurSolucionesSAUMember', window );">Prosegur Soluciones S.A.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaProduccionSLMember', window );">Buend&#237;a Producci&#243;n, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosSLMember', window );">Buend&#237;a Estudios, S.L. Service provision related to film and video production activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosUnoSLUMember', window );">Buendia Estudios Uno, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosDosSLUMember', window );">Buendia Estudios Dos, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosCanariasSLUMember', window );">Buend&#237;a Estudios Canarias S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosBizkaiaSLMember', window );">Buendia Estudios Bizkaia, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoHoldCoGeneralPartnerGmbHMember', window );">UGG TopCo/HoldCo General Partner GmbH.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">47.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoHoldCoGeneralPartnerGmbHMember', window );">UGG TopCo/HoldCo General Partner GmbH. | Telef&#243;nica Deutschland Holding A.G.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">7.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoHoldCoGeneralPartnerGmbHMember', window );">UGG TopCo/HoldCo General Partner GmbH. | Telef&#243;nica Infra Germany GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoGmbHCoKGMember', window );">UGG TopCo GmbH &amp; Co KG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">47.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoGmbHCoKGMember', window );">UGG TopCo GmbH &amp; Co KG | Telef&#243;nica Deutschland Holding A.G.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">7.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoGmbHCoKGMember', window );">UGG TopCo GmbH &amp; Co KG | Telef&#243;nica Infra Germany GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGHoldCoGmbHCoKGMember', window );">UGG HoldCo GmbH&amp; Co KG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">47.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGGeneralPartnerGmbHMember', window );">UGG General Partner GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">47.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UnsereGrneGlasfaserGmbHCoKGMember', window );">Unsere Gr&#252;ne Glasfaser</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">47.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_DaytonaMidcoSLMember', window );">Daytona Midco SL.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_DigitalDataCentreBidCoSLUMember', window );">Digital Data Centre BidCo, SLU.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaRentingSAMember', window );">Telefonica Renting, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OpalJvcoLimitedMember', window );">Opal Jvco Limited (nexfibre)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_Solar360DeRepsolYMovistarSLMember', window );">Solar360 de Repsol y Movistar S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OpalHoldcoLimitedMember', window );">Opal Holdco Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_InvestmentAccountedForUsingEquityMethod', window );">Investments accounted for by the equity method | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2022-03-24<br> -Paragraph 93<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=13&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 78<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of investments accounted for using the equity method. The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor's share of net assets of the investee. The investor's profit or loss includes its share of the profit or loss of the investee. The investor's other comprehensive income includes its share of the other comprehensive income of the investee. [Refer: At cost [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2022-03-24<br> -Paragraph 24<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=8&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 54<br> -Subparagraph e<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_54_e&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph B16<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B16&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2022-03-24<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=27&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2022-03-24<br> -Paragraph 19B<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=12&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeEspanaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeEspanaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesEspanaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesEspanaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TeleinformaticayComunicacionesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TeleinformaticayComunicacionesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSolucionesdeInformaticayCom.deEspanaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSolucionesdeInformaticayCom.deEspanaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSolucionesdeOutsourcingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaSolucionesdeOutsourcingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServiciosIntegralesdeDistribucionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServiciosIntegralesdeDistribucionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeContenidosS.A.U.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicadeContenidosS.A.U.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServiciosAudiovisualesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaServiciosAudiovisualesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBroadcastServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBroadcastServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TBSCBarcelonaProduccionesSLUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TBSCBarcelonaProduccionesSLUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaAudiovisualDigitalSLUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaAudiovisualDigitalSLUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalTechnologyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalTechnologyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosCanariasSLUMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosBizkaiaSLMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoHoldCoGeneralPartnerGmbHMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGTopCoGmbHCoKGMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGHoldCoGmbHCoKGMember</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UGGGeneralPartnerGmbHMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_UnsereGrneGlasfaserGmbHCoKGMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_DaytonaMidcoSLMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_DigitalDataCentreBidCoSLUMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaRentingSAMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OpalJvcoLimitedMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_Solar360DeRepsolYMovistarSLMember</td>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OpalHoldcoLimitedMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489668202880">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Appendix I: Scope of Consolidation - Main Changes in the Scope of Consolidation for the Year (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2022</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember', window );">FiBrasil Infraestructura e Fibra &#211;tica, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43.55%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember', window );">VMO2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_O2HoldingsLtdMember', window );">O2 Holdings Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_TelefonicaUnitedKingdomLimitedMember', window );">Telefonica UK Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_GiffgaffLtdMember', window );">Giffgaff Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_O2NetworksMember', window );">O2 Networks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_CornerstoneTelecomunicationsMember', window );">Cornerstone Telecomunications</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_TescoMobileLtdMember', window );">Tesco Mobile Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=tef_TelefnicaCybersecurityTechUKLimitedMember', window );">Telef&#243;nica Cybersecurity Tech UK Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VivaEEducacaoDigitalSAMember', window );">VivaE Educa&#231;&#227;o Digital S.A</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GarliavaRJInfraestruturaERedesDeTelecomunicacoesSAMember', window );">Garliava RJ Infraestrutura E Redes De Telecomunicacoes S.A. Wireline Telephony Operator</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VivoVenturesFundoDeInvestimentoEmParticipacoesMultiestrategiaMember', window );">Vivo Ventures Fundo De Investimento Em Participacoes Multiestrategia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_VitaITComercioEServicosDeSolucoesEmTILtdaMember', window );">Vita IT Comercio E Servicos De Solucoes Em TI Ltda</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">74.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GepromSoftwareEngineeringSLMember', window );">Geprom Software Engineering S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_GepromSoftwareEngineeringSAMember', window );">Geprom Software Engineering S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PerpetualTopcoLimitedMember', window );">Perpetual Topco Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PerpetualMidcoLimitedMember', window );">Perpetual Midco Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PerpetualBidcoLimitedMember', window );">Perpetual Bidco Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_IncrementalGroupHoldingsLimitedMember', window );">Incremental Group Holdings Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_RedspireLimitedMember', window );">Redspire Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_IncrementalGroupLimitedMember', window );">Incremental Group Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisGroupLimitedMember', window );">Adatis Group Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisConsultingLimitedMember', window );">Adatis Consulting Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisBGLTDMember', window );">Adatis BG LTD</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisIndiaPrivateLimitedMember', window );">Adatis India Private Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_KumoAnalyticsLimitedMember', window );">Kumo Analytics Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AdatisManagedServicesLimitedMember', window );">Adatis Managed Services Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAccelerationHoldingGmbHMember', window );">BE-terna Acceleration Holding GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAccelerationGmbHMember', window );">BE-terna Acceleration GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaEnhancementGmbHMember', window );">BE-terna Enhancement GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaGermanyGmbHMember', window );">BE-terna Germany GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaABSwedenMember', window );">BE-terna AB (Sweden)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BoydakAutomationAGMember', window );">Boydak Automation AG</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaApSDenmarkMember', window );">BE-terna ApS (Denmark)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaBVNetherlandsMember', window );">BE-terna B.V. (Netherlands)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaGmbHLeipzigMember', window );">BE-terna GmbH (Leipzig)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAustriaGmbHMember', window );">BE-terna Austria GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaGmbHInnsbruckMember', window );">BE-terna GmbH (Innsbruck)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_PipolASMember', window );">Pipol A/S</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaASNorwayMember', window );">BE-terna A/S (Norway)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaBusinessSolutionsGmbHMember', window );">BE-terna Business Solutions GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaIndustrySolutionsGmbHMember', window );">BE-terna Industry Solutions GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAGSwitzerlandMember', window );">BE-terna AG (Switzerland)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaAdriaticMember', window );">BE-terna Adriatic</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaBelgradeSerbiaMember', window );">BE-terna Belgrade (Serbia)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaLjubijanaSloveniaMember', window );">BE-terna Ljubijana (Slovenia)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BETernaZagrebCroatiaMember', window );">BE-terna Zagreb (Croatia)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AlamoHoldCoSLMember', window );">Alamo HoldCo S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="nump">27.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OnnetFibraColombiaSASMember', window );">Onnet Fibra Colombia S.A.S.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="nump">27.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OpalHoldcoLimitedMember', window );">Opal Holdco Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_OpalJvcoLimitedMember', window );">Opal Jvco Limited (nexfibre)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="nump">45.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_Solar360SolucionesDeInstalacionYMantenimientoSLMember', window );">Solar360 Soluciones De Instalacion y Mantenimiento S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">51.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TLHHoldcoSLMember', window );">TLH Holdco S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TISHispanoamericaSLMember', window );">TIS Hispanoamerica, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosCanariasSLUMember', window );">Buend&#237;a Estudios Canarias S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosBizkaiaSLMember', window );">Buendia Estudios Bizkaia, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_Solar360DeRepsolYMovistarSLMember', window );">Solar360 de Repsol y Movistar S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaRentingSAMember', window );">Telefonica Renting, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaMovilesElSalvadorS.A.deC.V.Member', window );">Telef&#243;nica El Salvador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="nump">59.58%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityTechArgentinaSAMember', window );">Telef&#243;nica Cybersecurity Tech Argentina S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_SaoPauloTelecomunicacoesParticipacoesLtdaMember', window );">Telef&#243;nica Global Solutions, S.L.U. International service provider</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_AltostratusSolutionsSLMember', window );">Altostratus Solutions, S.L.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaCybersecurityCloudTechDeutschlandGmbHMember', window );">Telefonica Cybersecurity &amp; Cloud Tech Deutschland GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKIrelandLimitedMember', window );">Telef&#243;nica Tech UK &amp; Ireland</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKHoldingsLimitedMember', window );">Telefonica Tech UK Holdings Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKTOGLimitedMember', window );">Telefonica Tech UK TOG Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKManagedServicesLimitedMember', window );">Telefonica Tech UK Managed Services Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechUKLimitedMember', window );">Telefonica Tech UK Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechNorthernIrelandHoldingsLimitedMember', window );">Telefonica Tech Northern Ireland Holdings Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechCommunicationCollaborationLimitedMember', window );">Telefonica Tech Communication &amp; Collaboration Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechNorthernIrelandLimitedMember', window );">Telefonica Tech Northern Ireland Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_CancomIrelandLimitedMember', window );">Cancom Ireland Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaTechOceanLimitedMember', window );">Telefonica Tech Ocean Limited</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ProsegurSolucionesSAUMember', window );">Prosegur Soluciones S.A.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_DaytonaMidcoSLMember', window );">Daytona Midco SL.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">% Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13.94%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_HoldCoInfraCoSpAMember', window );">HoldCo infraCo SpA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaGlobalSolutionsGermanyGmbHMember', window );">Telefonica Global Solutions Germany GmbH.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_MovistarConsumerFinanceColombiaSASMember', window );">Movistar Consumer Finance Colombia SAS.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosUnoSLUMember', window );">Buendia Estudios Uno, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_BuendiaEstudiosDosSLUMember', window );">Buendia Estudios Dos, S.L.U.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies', window );">Ownership of incorporated company (in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InmositesS.A.U.Member', window );">Inmosites, S.A.U. Purchase and rental of real estate related to the telecommunications infrastructure business</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresLatamMember', window );">Telxius Torres Latam [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresEspanaMember', window );">Telxius Torres Espana [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersGermanyGmbhMember', window );">Telxius Towers Germany Gmbh</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresPeruS.A.C.Member', window );">Telxius Torres Per&#250; S.A.C.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresChileHoldingS.A.Member', window );">Telxius Torres Chile Holding, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresChileS.A.Member', window );">Telxius Torres Chile, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresBrasilLtda.Member', window );">Telxius Torres Brasil, Ltda.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InmositesBrasilParticipaoesImobiliariasLtdaMember', window );">Inmosites Brasil Participa&#231;oes Imobiliarias Ltda</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresArgentinaS.A.Member', window );">Telxius Torres Argentina, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeCostaRicaTCSAMember', window );">Telef&#243;nica de Costa Rica TC, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems', window );"><strong>Disclosure of subsidiaries [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_PercentageofShareCapitalSold', window );">% sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2022-03-24<br> -Paragraph B64<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=3&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;subtype=B<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage Of Voting Equity Interests Held In Newly Incorporated Companies</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageOfVotingEquityInterestsHeldInNewlyIncorporatedCompanies</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of Share Capital Sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_PercentageofShareCapitalSold</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_FiBrasilInfraestructuraEFibraOticaSAMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=tef_VMEDO2UKLtdMember</td>
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<td><strong> Name:</strong></td>
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<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersGermanyGmbhMember">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTowersGermanyGmbhMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresPeruS.A.C.Member">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresPeruS.A.C.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresChileHoldingS.A.Member">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresChileHoldingS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresChileS.A.Member">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresChileS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresBrasilLtda.Member">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresBrasilLtda.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_InmositesBrasilParticipaoesImobiliariasLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelxiusTorresArgentinaS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeCostaRicaTCSAMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaDeCostaRicaTCSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<head>
<title></title>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489781253680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix II: Board and Senior Management Compensation - Compensation Allocation of Board and Senior Management (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">&#8364; 3,807,738<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">2,640,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">1,923,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">4,198,897<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">6,085<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">6,128,082<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Isidro Fain&#233; Casas</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">200,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">80,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">280,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">200,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">9,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">91,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">300,200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Jos&#233; Javier Echenique Landir&#237;bar</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">200,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">24,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">113,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">337,600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. &#193;ngel Vil&#225; Boix</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">1,600,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">2,911,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">24,514<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">4,535,714<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Juan Ignacio Cirac Sasturain</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">30,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">33,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">183,600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Peter Erskine</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">19,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">113,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">252,600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Ms. Carmen Garc&#237;a de Andr&#233;s</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">32,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">33,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">185,600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Ms. Mar&#237;a Luisa Garc&#237;a Blanco</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">32,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">44,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">196,800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Peter L&#246;scher</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">23,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">113,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">256,600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Ms. Ver&#243;nica Pascual Bo&#233;</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">7,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">11,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">138,200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Francisco Javier de Paz Mancho</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">33,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">124,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">277,800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Mr. Francisco Jos&#233; Riberas Mera</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Maria Rotondo Urcola</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">20,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">22,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">162,400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | Ms. Claudia Sender Ram&#237;rez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">120,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">18,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">22,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">160,400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Isidro Fain&#233; Casas</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Jos&#233; Mar&#237;a Abril P&#233;rez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Jos&#233; Javier Echenique Landir&#237;bar</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">90,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">87,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">177,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. &#193;ngel Vil&#225; Boix</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Juan Ignacio Cirac Sasturain</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">90,457<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">90,457<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Peter Erskine</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">80,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">80,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Ms. Carmen Garc&#237;a de Andr&#233;s</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Ms. Mar&#237;a Luisa Garc&#237;a Blanco</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">87,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">87,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Peter L&#246;scher</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">119,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">119,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Ms. Ver&#243;nica Pascual Bo&#233;</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">60,457<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">60,457<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Francisco Javier de Paz Mancho</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">170,727<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">155,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">325,727<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Mr. Francisco Jos&#233; Riberas Mera</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Maria Rotondo Urcola</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other Companies | Ms. Claudia Sender Ram&#237;rez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationSalary', window );">Salary</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationFixedCompensation', window );">Fixed remuneration</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAttendanceFees', window );">Attendance fees</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term variable compensation</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard', window );">Compensation for belonging to Committees of the Board</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Other items</a></td>
<td class="nump">127,957<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total &#160;</a></td>
<td class="nump">&#8364; 127,957<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of other long-term employee benefits. [Refer: Other long-term employee benefits; Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of short-term employee benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Key Management Personnel Compensation, Attendance Fees</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_KeyManagementPersonnelCompensationAttendanceFees</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Key Management Personnel Compensation, Compensation for Membership To Committees Of The Board</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_KeyManagementPersonnelCompensationCompensationforMembershipToCommitteesOfTheBoard</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Key Management Personnel Compensation, Fixed Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_KeyManagementPersonnelCompensationFixedCompensation</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_KeyManagementPersonnelCompensationSalary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Key Management Personnel Compensation, Salary</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_KeyManagementPersonnelCompensationSalary</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
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<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_FranciscoJavierdePazMember</td>
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<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_FranciscoJoseRiberasMember</td>
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<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_MariaRotondoUrcolaMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489799194064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix II: Board and Senior Management Compensation - Long-Term Savings Systems (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">&#8364; 673,085<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | Pension plans</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">7,574<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | Benefits plan</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">540,968<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | Unit link-type Insurance/Pension Plan Surplus</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">124,543<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">560,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix | Pension plans</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">6,721<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix | Benefits plan</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">487,840<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix | Unit link-type Insurance/Pension Plan Surplus</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="nump">&#8364; 65,439<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of participation by the entity in a defined benefit plan that shares risks between group entities. [Refer: Defined benefit plans [member]; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 22<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RetirementPlanType1Axis=tef_PensionPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RetirementPlanType1Axis=tef_PensionPlansMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RetirementPlanType1Axis=tef_DomesticDefinedBenefitPlanMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RetirementPlanType1Axis=tef_UnitLinktypeInsurancePensionPlanSurplusMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489788569936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix II: Board and Senior Management Compensation - Life Insurance Premiums (Details) - Life insurance premiums<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromInsuranceContracts', window );">Life insurance premiums</a></td>
<td class="nump">&#8364; 74,699<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember', window );">Mr. &#193;ngel Vil&#225; Boix</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems', window );"><strong>Disclosure of transactions between related parties [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ExpenseArisingFromInsuranceContracts', window );">Life insurance premiums</a></td>
<td class="nump">&#8364; 58,820<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from insurance contracts. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 4<br> -IssueDate 2022-03-24<br> -Paragraph 37<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=4&amp;code=ifrs-tx-2022-en-b&amp;anchor=para_37_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<FILENAME>R249.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489767269312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix II: Board and Senior Management Compensation - Narrative (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="5">12 Months Ended</th>
<th class="th" colspan="2">36 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Apr. 08, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jan. 01, 2020 </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>Jun. 08, 2018 </div>
<div>EUR (&#8364;) </div>
<div>cycle</div>
</th>
<th class="th">
<div>Jan. 01, 2018 </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
<th class="th">
<div>May 31, 2016 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>shares </div>
<div>yr</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>employee </div>
<div>shares </div>
<div>&#8364; / shares</div>
</th>
<th class="th"><div>Dec. 31, 2020</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2021</div></th>
<th class="th"><div>Dec. 31, 2020</div></th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlanMember', window );">Performance Share Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases', window );">Number of independent cycles | cycle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered', window );">Maximum number of shares allocated to be delivered (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,241,015<span></span>
</td>
<td class="nump">1,333,081<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20182022Member', window );">Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective', window );">Delivery percent (fulfillment of TSR objective, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration', window );">Delivery percent (free cash flow generation, maximum compliance, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_GlobalEmployeeSharePlanMember', window );">Global Employee Share Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase', window );">Maximum amount of shares an employee is allowed to purchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedPaymentArrangementTrancheAxis=tef_FCFObjectiveMember', window );">FCF Objective</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedPaymentArrangementTrancheAxis=tef_FCFObjectiveMember', window );">FCF Objective | Performance Share Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage', window );">Maximum number of shares to be delivered, compliance criteria (in percents)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedPaymentArrangementTrancheAxis=tef_TSRObjectiveMember', window );">TSR Objective | Performance Share Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage', window );">Maximum number of shares to be delivered, compliance criteria (in percents)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases', window );">Number of independent cycles | cycle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,466,996<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | PSP - Second Cycle / 2019-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">465,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | FCF Objective | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6.4631<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | FCF Objective | PSP - Second Cycle / 2019-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.2136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | TSR Objective | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4.516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember', window );">First cycle | TSR Objective | PSP - Second Cycle / 2019-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1.6444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,471,489<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | FCF Objective | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6.1436<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember', window );">Second Cycle | TSR Objective | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 4.4394<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Directors | PSP - First Cycle / 2021-2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective', window );">Delivery percent (fulfillment of TSR objective, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration', window );">Delivery percent (free cash flow generation, maximum compliance, in percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization', window );">Delivery percent (free cash flow generation, maximum compliance)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance', window );">Delivery percent (if within median of performance)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance', window );">Delivery percent (if within third quartile of performance)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMinimumThresholdPercent', window );">Proportion of free cash flow generation minimum threshold of compliance (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGenerationMinimumCompliance', window );">Proportion of free cash flow generation minimum compliance (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMaximumThresholdPercent', window );">Proportion of free cash flow generation maximum threshold of compliance (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMinimumThresholdPercent', window );">Proportion of carbon dioxide emission neutralization minimum threshold of compliance (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumCompliance', window );">Proportion of carbon dioxide emission neutralization minimum compliance (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMaximumThresholdPercent', window );">Proportion of carbon dioxide emission neutralization maximum threshold of compliance (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent', window );">Number of shares delivered under the plan to the Executive Directors and other Participants (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriod', window );">Holding period for shares delivered under Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationValueOfSharesToBeMaintainedByDirectorsNumberOfYearsOfGrossFixedRemuneration', window );">Number of years of gross fixed remuneration based on which the Directors need to maintain an amount of shares | yr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors', window );">Required holding period for Executive Directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationAmountContributedByEachExecutiveDirector', window );">Amount contributed by each executive director to plan</a></td>
<td class="nump">&#8364; 1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember', window );">Senior Management (Excluding Board Directors)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation', window );">Accrued fixed compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 9,381,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_KeyManagementPersonnelCompensationInkindCompensation', window );">In-kind compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 185,657<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember', window );">Senior Management (Excluding Board Directors) | PSP - Second Cycle / 2019-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Shares entitled (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">158,381<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember', window );">Senior Management (Excluding Board Directors) | First cycle | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">No. of shares assigned (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">316,762<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Shares entitled (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">220,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember', window );">Senior Management (Excluding Board Directors) | First cycle | FCF Objective | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 3.2136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember', window );">Senior Management (Excluding Board Directors) | First cycle | TSR Objective | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements', window );">Fair value of shares assigned (EUR per share) | &#8364; / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 1.6444<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember', window );">Senior Management (Excluding Board Directors) | Second Cycle | Performance Share Plan 2018-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_WeightedAveragePaymentCoefficientPercent', window );">Weighted-average payment coefficient (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Shares entitled (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">256,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_SantiagoFernandezValbuenaMember', window );">Mr. Santiago Fernandez Valbuena | Senior Management (Excluding Board Directors)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 943,754<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 673,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | PSP - Second Cycle / 2019-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Shares entitled (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">133,500<span></span>
</td>
<td class="nump">234,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | Maximum | PSP - First Cycle / 2021-2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Shares entitled (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,094,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | Directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 6,128,082<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 560,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix | PSP - Second Cycle / 2019-2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Shares entitled (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">99,000<span></span>
</td>
<td class="nump">173,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix | Maximum | PSP - First Cycle / 2021-2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Shares entitled (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">819,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Key management personnel compensation</a></td>
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<td class="nump">&#8364; 4,535,714<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
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<td class="nump">214,600<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RetirementPlanType1Axis=tef_DomesticDefinedBenefitPlanMember', window );">Benefits plan | Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RetirementPlanType1Axis=tef_PensionPlansMember', window );">Pension plans | Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RetirementPlanType1Axis=tef_PensionPlansMember', window );">Pension plans | Mr. &#193;ngel Vil&#225; Boix</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions', window );">Contributions</a></td>
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<td class="nump">&#8364; 6,721<span></span>
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</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 17<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of instruments granted in share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph IG23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG23&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 47<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of participation by the entity in a defined benefit plan that shares risks between group entities. [Refer: Defined benefit plans [member]; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2022-03-24<br> -Paragraph 22<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=24&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ParticipationInDefinedBenefitPlanThatSharesRisksBetweenGroupEntitiesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_KeyManagementPersonnelCompensationAccruedFixedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Key Management Personnel Compensation, Accrued Fixed Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_KeyManagementPersonnelCompensationAccruedFixedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_KeyManagementPersonnelCompensationInkindCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Key Management Personnel Compensation, In-kind Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_KeyManagementPersonnelCompensationInkindCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maximum Number Of Shares To Be Delivered, Compliance Criteria, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_MaximumNumberOfSharesToBeDeliveredComplianceCriteriaPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationAmountContributedByEachExecutiveDirector">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Carbon Dioxide Emission Neutralization, Amount Contributed By Each Executive Director</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationAmountContributedByEachExecutiveDirector</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Carbon Dioxide Emission Neutralization Compliance, Amount Of Shares Delivered, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationComplianceAmountOfSharesDeliveredPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Carbon Dioxide Emission Neutralization, Required Holding Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Carbon Dioxide Emission Neutralization, Required Holding Period, Executive Directors</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationRequiredHoldingPeriodExecutiveDirectors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationValueOfSharesToBeMaintainedByDirectorsNumberOfYearsOfGrossFixedRemuneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Carbon Dioxide Emission Neutralization, Value Of Shares To Be Maintained By Directors, Number Of Years Of Gross Fixed Remuneration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardCarbonDioxideEmissionNeutralizationValueOfSharesToBeMaintainedByDirectorsNumberOfYearsOfGrossFixedRemuneration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement By Share-based Payment Award, Maximum Number Of Shares Allocated To Be Delivered</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAllocatedToBeDelivered</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement By Share-based Payment Award, Number Of Independent Phases</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Percentage Of Carbon Dioxide Emission Neutralization</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumCompliance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Percentage of Carbon Dioxide Emission Neutralization Minimum Compliance</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumCompliance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMaximumThresholdPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Percentage Of Carbon Dioxide Emission Neutralization Minimum Compliance, Maximum Threshold, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMaximumThresholdPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMinimumThresholdPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage Of Carbon Dioxide Emission Neutralization Minimum Compliance, Minimum Threshold, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfCarbonDioxideEmissionNeutralizationMinimumComplianceMinimumThresholdPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMaximumThresholdPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Free Cash Flow Generation Minimum Compliance, Maximum Threshold, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMaximumThresholdPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMinimumThresholdPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Free Cash Flow Generation Minimum Compliance, Minimum Threshold, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfFreeCashFlowGenerationMinimumComplianceMinimumThresholdPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Performance Within Mean of Performance</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinMeanofPerformance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage, Performance Within Third Quartile of Performance</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingRightsPercentagePerformanceWithinThirdQuartileofPerformance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Maximum Amount Of Shares An Employee Is Allowed To Purchase</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Free Cash Flow Generation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGeneration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGenerationMinimumCompliance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Free Cash Flow Generation Minimum Compliance</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFreeCashFlowGenerationMinimumCompliance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Fulfillment of Total Shareholder Return Objective</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_WeightedAveragePaymentCoefficientPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted-Average Payment Coefficient, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_WeightedAveragePaymentCoefficientPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price of other equity instruments granted in share-based payment arrangements</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_Weightedaverageexercisepriceofotherequityinstrumentsgrantedinsharebasedpaymentarrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20182022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PerformanceSharePlan20182022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_GlobalEmployeeSharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_GlobalEmployeeSharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedPaymentArrangementTrancheAxis=tef_FCFObjectiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedPaymentArrangementTrancheAxis=tef_FCFObjectiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ShareBasedPaymentArrangementTrancheAxis=tef_TSRObjectiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ShareBasedPaymentArrangementTrancheAxis=tef_TSRObjectiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CycleofPerformanceSharePlanAxis=tef_FirstCycleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PSPSecondCycle20192022Member">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PSPSecondCycle20192022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_CycleofPerformanceSharePlanAxis=tef_SecondCycleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PSPFirstCycle20212024Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=tef_SeniorManagementExcludingBoardDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_SantiagoFernandezValbuenaMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_SantiagoFernandezValbuenaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RetirementPlanType1Axis=tef_DomesticDefinedBenefitPlanMember">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RetirementPlanType1Axis=tef_DomesticDefinedBenefitPlanMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RetirementPlanType1Axis=tef_PensionPlansMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489780635856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix II: Board and Senior Management Compensation - PSP (Details) - Maximum<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2022 </div>
<div>shares</div>
</th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | PSP - First Cycle / 2021-2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Theoretical shares allocated (without co-investment)</a></td>
<td class="nump">1,094,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember', window );">Mr. Jos&#233; Mar&#237;a &#193;lvarez-Pallete L&#243;pez | PSP - Second Cycle / 2022-2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Theoretical shares allocated (without co-investment)</a></td>
<td class="nump">995,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix | PSP - First Cycle / 2021-2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Theoretical shares allocated (without co-investment)</a></td>
<td class="nump">819,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember', window );">Mr. &#193;ngel Vil&#225; Boix | PSP - Second Cycle / 2022-2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems', window );"><strong>Disclosure of terms and conditions of share-based payment arrangement [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement', window );">Theoretical shares allocated (without co-investment)</a></td>
<td class="nump">745,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of instruments granted in share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph IG23<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_IG23&amp;doctype=Implementation%20Guidance<br> -URIDate 2022-03-24<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -Subparagraph a<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=2&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45_a&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_JoseMariaAlvarezPalleteLopezMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PSPFirstCycle20212024Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PSPFirstCycle20212024Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PSPSecondCycle20222025Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=tef_PSPSecondCycle20222025Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=tef_AngelVilaBoixMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489762593776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Appendix III: Debentures and Bonds - Maturity (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 31,095<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,477<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,130<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">3,130<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">2,101<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">4,178<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">19,079<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">27,841<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,277<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">2,019<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,843<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">3,655<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">18,047<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,648<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,148<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2023 | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2023 | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2024 | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2024 | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2025 | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2025 | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2026 | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2026 | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2027 | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | 2027 | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,648<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | Subsequent years | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,148<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | Subsequent years | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | Fixed interest rate | T. EUROPE BV SEP_00 BOND GLOBAL D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">8.25%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telefonica Europe, B.V. | Fixed interest rate | TEBV FEB_03 EMTN FIXED TRANCHE B</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.875%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 26,193<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF EMISIONES JANUARY 2013</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,277<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,127<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">892<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">564<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,279<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,405<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,250<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,250<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2017 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | EMTN GBP 10/08/2029 400 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES OCTOBER 2014</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF EMISIONES FEBRUARY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MAY 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES OCTOBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">750<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">750<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF EMISIONES JUNE 06 TRANCHE D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES APRIL 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">187<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2018 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">703<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES JULY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF EMISIONES JULY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES APRIL 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES APRIL 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">468<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,171<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,171<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | TELEF. EMISIONES DECEMBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">150<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,277<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF EMISIONES JANUARY 2013</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,277<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2023 | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2017 2</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | EMTN GBP 10/08/2029 400 GBP</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES OCTOBER 2014</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF EMISIONES FEBRUARY 2020</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MAY 2022</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES OCTOBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF EMISIONES JUNE 06 TRANCHE D</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES APRIL 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2018 1</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES JULY 2019</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF EMISIONES JULY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES APRIL 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES APRIL 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2024 | TELEF. EMISIONES DECEMBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">2,019<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF EMISIONES JANUARY 2013</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,127<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">892<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2017 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | EMTN GBP 10/08/2029 400 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2017</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2018</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2025 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,843<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF EMISIONES JANUARY 2013</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">564<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,279<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MARCH 2017 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | EMTN GBP 10/08/2029 400 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES OCTOBER 2014</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF EMISIONES FEBRUARY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MAY 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES OCTOBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF EMISIONES JUNE 06 TRANCHE D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES APRIL 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MARCH 2018 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES JULY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF EMISIONES JULY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES APRIL 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MARCH 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES APRIL 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MARCH 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2026 | TELEF. EMISIONES DECEMBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">3,655<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF EMISIONES JANUARY 2013</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,405<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,250<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MARCH 2017 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | EMTN GBP 10/08/2029 400 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES OCTOBER 2014</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF EMISIONES FEBRUARY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MAY 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF EMISIONES JUNE 06 TRANCHE D</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES APRIL 2017 1</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MARCH 2018 1</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES JULY 2019</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF EMISIONES JULY 2020</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES APRIL 2022</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MARCH 2017</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES APRIL 2017</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MARCH 2018</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | 2027 | TELEF. EMISIONES DECEMBER 2016</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">16,399<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JANUARY 2013</a></td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,250<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2017 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | EMTN GBP 10/08/2029 400 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES OCTOBER 2014</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES FEBRUARY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MAY 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES OCTOBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">750<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">750<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JUNE 06 TRANCHE D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES APRIL 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">187<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2018 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">703<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JULY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JULY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES APRIL 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES APRIL 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">468<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,171<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,171<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES DECEMBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 150<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES JANUARY 2013</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.987%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES FEBRUARY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.069%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.528%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES SEPTEMBER 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.495%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | EMTN O2 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.375%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES APRIL 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.46%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JANUARY 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.447%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.103%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.201%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JANUARY 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.318%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES SEPTEMBER 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.715%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2017 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.318%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.788%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | EMTN GBP 10/08/2029 400 GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.445%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES OCTOBER 2014</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.932%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES FEBRUARY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.664%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MAY 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.592%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES OCTOBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.93%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES MAY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.807%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES JUNE 06 TRANCHE D</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.045%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES APRIL 2017 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.90%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2018 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.665%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JULY 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.957%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES JULY 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.864%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES APRIL 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.864%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.213%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES APRIL 2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.213%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.895%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.52%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">Spain | Telef&#243;nica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES DECEMBER 2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 3,254<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">200<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">130<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">258<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">523<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">1,032<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2023 | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2024 | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2025 | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2026 | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | 2027 | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | Subsequent years | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica Chile, S.A. | Fixed interest rate | Bond T</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.90%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 759<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">115<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">468<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">115<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2023 | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">115<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2023 | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2023 | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2023 | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2024 | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2024 | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2024 | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2024 | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2025 | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2025 | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2025 | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2025 | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2026 | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2026 | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2026 | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2026 | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2027 | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2027 | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2027 | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | 2027 | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">468<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Subsequent years | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Subsequent years | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Subsequent years | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Subsequent years | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 468<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Fixed interest rate | Bond F</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.60%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Fixed interest rate | Bond O</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Fixed interest rate | Bond Q</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.60%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica M&#243;viles Chile, S.A. | Fixed interest rate | Bond 144 A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.537%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 679<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">25<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">417<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2023 | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">62<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2024 | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">165<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2025 | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">139<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">159<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2026 | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">139<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">164<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">25<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | 2027 | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">139<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">65<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">20<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">19<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">18<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Subsequent years | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Fixed interest rate | Bond T. Peru 6th Program (11th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">6.656%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Fixed interest rate | Bond T. Peru 6th Program (11th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">6.188%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Fixed interest rate | Bond T. Peru 6th Program (15th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.469%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Fixed interest rate | Bond T. Peru 6th Program (16th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.50%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Fixed interest rate | Bond T. Peru 1st Private Program (1st Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.281%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Fixed interest rate | Bond T. Peru 1st Program International Issue (1sr Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.375%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Floating interest rate | Bond T. Peru 4th Program (19th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.625%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Floating interest rate | Bond T. Peru 4th Program (19th Serie B)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.875%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Floating interest rate | Bond T. Peru 4th Program (37th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.125%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Floating interest rate | Bond T. Peru 4th Program (19th Serie C)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.1875%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#243;nica del&#160;Per&#250;, S.A. | Floating interest rate | Bond T. Peru 6th Program (17th Serie A)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.0938%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 628<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">269<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">359<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2023 | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2023 | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2024 | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2024 | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">269<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2025 | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">269<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2025 | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2026 | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2026 | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">359<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2027 | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | 2027 | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">359<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | Subsequent years | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | Subsequent years | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | Floating interest rate | Debentures 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.12%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Telef&#244;nica Brasil, S.A. | Floating interest rate | Debentures 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.35%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P.</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 567<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">469<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">68<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2023 | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2023 | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2023 | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">68<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2024 | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2024 | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">68<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2024 | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2025 | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2025 | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2025 | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2026 | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2026 | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2026 | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2027 | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2027 | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | 2027 | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">499<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Subsequent years | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">469<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Subsequent years | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Subsequent years | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Fixed interest rate | BOND R144-A</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.95%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones S.A. E.S.P. | Fixed interest rate | Bond A5</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">6.65%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2023 | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2024 | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2025 | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2026 | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | 2027 | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | Subsequent years | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | O2 Telef&#243;nica Deutschland Finanzierungs, GmbH | Fixed interest rate | Bond</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.75%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=tef_OutsideofParentCountryMember', window );">Outside of Parent Country | Colombia Telecomunicaciones, S.A., ESP | Floating interest rate | Bond C10</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for non-derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.39%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfMaturityAnalysisForNonderivativeFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEuropeB.V.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEuropeB.V.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_T.EUROPEBVSEP_00BONDGLOBALDMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_T.EUROPEBVSEP_00BONDGLOBALDMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TEBVFEB_03EMTNFIXEDTRANCHEBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TEBVFEB_03EMTNFIXEDTRANCHEBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJANUARY2013Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJANUARY2013Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESFEBRUARY2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESFEBRUARY2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJANUARY2017Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJANUARY2017Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESSEPTEMBER2018Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESSEPTEMBER2018Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_EMTNO2GBPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_EMTNO2GBPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESAPRIL2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESAPRIL2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJANUARY2018Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJANUARY2018Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH20171Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH20171Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMAY2020Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMAY2020Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEF.EMISIONESJANUARY20171Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEF.EMISIONESJANUARY20171Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESSEPTEMBER2017Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESSEPTEMBER2017Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH20172Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH20172Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_EMTNGBP10082029400GBPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_EMTNGBP10082029400GBPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESOCTOBER2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESOCTOBER2014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESFEBRUARY2020Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESFEBRUARY2020Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMAY2022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMAY2022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESOCTOBER2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESOCTOBER2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMAY20202Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMAY20202Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJUNE06TRANCHEDMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJUNE06TRANCHEDMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESAPRIL20171Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESAPRIL20171Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH20181Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESMARCH20181Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJULY2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJULY2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJULY2020Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESJULY2020Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESAPRIL2022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_TELEFEMISIONESAPRIL2022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru6thProgram11thSerieBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru6thProgram11thSerieBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru6thProgram15thSerieAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru6thProgram15thSerieAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru6thProgram16thSeriesAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru6thProgram16thSeriesAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru1stPrivateProgram1stSeriesAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru1stPrivateProgram1stSeriesAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondT.Peru1stProgramInternationalIssue1stSeriesAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_Debentures1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_Debentures1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_Debentures2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_Debentures2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesSAESPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesSAESPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BONDR144AMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BONDR144AMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondA5Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondA5Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondC10Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondC10Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_O2TelefonicaDeutschlandFinanzierungsGmbHMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_O2TelefonicaDeutschlandFinanzierungsGmbHMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BondMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BondMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesS.A.ESPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_ColombiaTelecomunicacionesS.A.ESPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R252.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489807376688">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Appendix III: Debentures and Bonds - Debentures and Bonds Issued (Details)<br> &#8364; in Millions, R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 31,095<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member', window );">Telef&#243;nica Emisiones, S.A.U. | Telefonica Emisiones EMTN Bond | 13 July 2040</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member', window );">Telef&#243;nica Emisiones, S.A.U. | Telefonica Emisiones EMTN Bond | 25 May 2031</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member', window );">Telef&#243;nica Emisiones, S.A.U. | Telefonica Emisiones EMTN Bond | Fixed interest rate | 13 July 2040</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.864%<span></span>
</td>
<td class="nump">1.864%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaEmisionesS.A.U.Member', window );">Telef&#243;nica Emisiones, S.A.U. | Telefonica Emisiones EMTN Bond | Fixed interest rate | 25 May 2031</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.592%<span></span>
</td>
<td class="nump">2.592%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A. | Debentures | 12 July 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 359<span></span>
</td>
<td class="nump">R$ 2,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A. | Debentures | 12 July 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Debentures and bonds</a></td>
<td class="nump">&#8364; 269<span></span>
</td>
<td class="nump">R$ 1,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A. | Debentures | Fixed interest rate | 12 July 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.35%<span></span>
</td>
<td class="nump">1.35%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A. | Debentures | Fixed interest rate | 12 July 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.12%<span></span>
</td>
<td class="nump">1.12%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
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<tr>
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<td>dtr-types:percentItemType</td>
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<tr>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_A13July2040Member</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_A25May2031Member</td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=tef_TelefonicaBrasilS.A.Member</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_DebenturesMember</td>
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<td>na</td>
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<td></td>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_A12July2025Member</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489663922960">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Appendix IV: Financial Instruments - Summary (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=tef_NetBorrowingsIncludingAdjustmentsMember', window );">Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 25,994<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.17%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 20,138<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">6.17%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (87)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.54%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 598<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CHF', window );">CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CHF', window );">CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.49%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.27%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (937)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">10.26%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_ARS', window );">ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">60.06%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_ARS', window );">ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (226)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.85%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">10.86%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 3,412<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="num">(0.52%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.04%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 1,287<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.53%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 820<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_ValorAdquisitivoConstantedePeruMember', window );">VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">3.21%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=tef_ValorAdquisitivoConstantedePeruMember', window );">VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 89<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">2.66%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.72%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 806<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_VES', window );">VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_VES', window );">VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.84%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">6.88%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">10,989<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">8,955<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">134<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,067<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">441<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">89<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">263<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember', window );">Floating rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">15,005<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">11,183<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(87)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">598<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(1,071)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(226)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">2,345<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">846<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">804<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">543<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember', window );">Fixed rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember', window );">Rate cap | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">26,687<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 20,715<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">&#8364; (86)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 597<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">&#8364; (899)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 115<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">&#8364; (232)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 3,478<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 1,289<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 823<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 89<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 822<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">&#8364; (20)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">&#8364; (13)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">&#8364; 15,337<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">13,208<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">175<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">1,098<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">455<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">89<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">273<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Floating rate | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">11,350<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">7,507<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">(86)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">598<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">(1,074)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">115<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">(232)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">2,380<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">834<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">807<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">549<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Fixed rate | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="num">(28)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Rate cap | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsFairValue', window );">Financial instruments, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">27,699<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 12,461<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 922<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 13,038<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 119<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">&#8364; (232)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 868<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">&#8364; (234)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 115<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 474<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 89<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">&#8364; (20)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">&#8364; (240)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">&#8364; 2,784<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">1,079<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">329<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">827<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">(21)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">115<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">89<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">335<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Floating rate | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">24,915<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">11,382<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">922<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">12,709<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">119<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">(232)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">41<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">(213)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">458<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Fixed rate | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="num">(255)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Underlying debt (*) | Rate cap | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue', window );">Underlying debt, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(1,012)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 8,254<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">&#8364; (86)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">&#8364; (325)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">&#8364; (13,937)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">&#8364; (4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 2,610<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 1,523<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">&#8364; (106)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 349<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 483<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 227<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 12,553<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">12,129<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(154)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">271<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">476<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(106)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(62)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Floating rate | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(13,565)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(3,875)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(86)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(324)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(13,783)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">2,339<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">1,047<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">349<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">545<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Fixed rate | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">227<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value | Derivative instruments | Rate cap | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Associated derivatives, at fair value</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.04%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.29%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (8,499)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">6.17%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (87)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.49%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 610<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.18%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (982)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.85%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (15)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">61.15%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (222)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="num">(0.57%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">10.86%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 2,125<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">4.84%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 428<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">8.36%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 294<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.35%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (13)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.84%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">10.66%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 163<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,933<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(7)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(220)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(19)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Floating rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(10,432)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(87)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">610<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(975)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(15)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(222)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">2,345<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">447<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">278<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(22)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(20)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Fixed rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">139<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Rate cap | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.73%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.80%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 1,066<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.47%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.23%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 49<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">9.39%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 97<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 17<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.55%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 116<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">5.81%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 63<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">1.23%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">6.65%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 131<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">9.70%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (246)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">38<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">141<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">63<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Floating rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,028<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(92)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">97<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">116<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">63<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">68<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Fixed rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(246)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Rate cap | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.62%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 2,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.38%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 796<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 184<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.08%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 165<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="num">(2.01%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.19%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 219<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(87)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">796<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(248)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Floating rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">2,587<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">184<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">165<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">467<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Fixed rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Rate cap | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="num">(0.12%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">2.25%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 3,707<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.70%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.55%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (1,878)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">8.90%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 29<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">3.60%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.36%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 159<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">8.80%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 87<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,770<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(1,874)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Floating rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,937<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">159<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Fixed rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">87<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Rate cap | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="num">(0.56%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.13%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 4,020<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.70%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">1.32%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 367<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">7.38%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 139<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">3.63%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 25<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">206<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">367<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">25<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Floating rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">3,814<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(6)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">139<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Fixed rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Rate cap | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | EUR</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.05%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">1.80%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 17,344<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | CZK</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | GBP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.70%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">&#8364; (4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | CHF</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | USD</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 1,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | UYU</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | ARS</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | BRL</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | CLP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="num">(0.50%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 460<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | UFC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | PEN</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | VAC</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">3.05%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | COP</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.30%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">8.09%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 459<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | VEB</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Mexican peso</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate', window );">Spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">5,095<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,874<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">99<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">460<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">429<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Floating rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">12,249<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Fixed rate | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | EUR | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | CZK | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | GBP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | CHF | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | USD | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | UYU | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | ARS | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | BRL | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | CLP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | UFC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | PEN | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | VAC | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | COP | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | VEB | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Rate cap | Mexican peso | Net Borrowings, Including Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 7<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial instruments designated as hedging instruments. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item. [Refer: At fair value [member]; Derivatives [member]; Derivative financial assets; Derivative financial liabilities; Financial instruments, class [member]; Financial assets; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2023-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 22<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2017-en-b&amp;anchor=para_22_b&amp;doctype=Standard&amp;book=b<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_FinancialInstrumentsFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments, Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancialInstrumentsFairValue</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financial Instruments Not Designated as Hedging Instruments, Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_FinancialInstrumentsNotDesignatedasHedgingInstrumentsFairValue</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SensitivityAnalysisBasisSpreadOnVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Basis Spread On Variable Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisBasisSpreadOnVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=tef_NetBorrowingsIncludingAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=tef_NetBorrowingsIncludingAdjustmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_EUR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_EUR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_CZK">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CZK</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_GBP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_GBP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_CHF">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CHF</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_USD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_UYU">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_UYU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_ARS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_ARS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_BRL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_BRL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_CLP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CLP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_CLF">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CLF</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_PEN">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_PEN</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=tef_ValorAdquisitivoConstantedePeruMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=tef_ValorAdquisitivoConstantedePeruMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_COP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_COP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_VES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_VES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_MXN">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_MXN</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=tef_RateCapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DebtSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DebtSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489665802896">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Appendix IV: Financial Instruments - Interest Rate Swaps (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 665<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">2023 | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">2024 | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">2025 | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">2026 | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">95<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember', window );">2027 | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(19)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Subsequent years | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">483<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">482<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(19)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.31%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.22%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.34%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">1.18%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.46%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.74%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">1.77%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.54%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.29%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">3.55%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.07%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.45%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.29%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.86%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.16%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 595<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Fixed to floating | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.46%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.66%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.10%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.24%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.26%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.52%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.65%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.71%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.22%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.75%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">&#8364; (113)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Floating to fixed | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">&#8364; (20)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">&#8364; (11,119)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(478)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(2,974)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(319)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(1,778)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(159)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(1,195)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(1,215)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(325)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(3,632)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(7,894)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Fixed to floating | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(161)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(3,144)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(862)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(715)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(703)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(470)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(159)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(50)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(477)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(245)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(1,187)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(3,148)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Receiving leg | Floating to fixed | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="num">(869)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">11,119<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">478<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">2,974<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">319<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">1,778<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">159<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">1,195<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">1,215<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">325<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">3,632<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">8,489<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Fixed to floating | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">162<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">3,144<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">862<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">715<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">703<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">470<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">159<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">50<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">477<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">245<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">1,187<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">3,035<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember', window );">Non trading accountant purposes | Paying leg | Floating to fixed | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading', window );">Derivative financial assets held for trading</a></td>
<td class="nump">849<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(1,292)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">756<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fair value | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fair value | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fair value | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(106)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.89%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.62%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.79%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">3.42%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">4.90%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">1.27%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">5.77%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">1.07%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.54%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.85%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2023 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2023 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">4.90%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">1.27%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2023 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.36%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2024 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2024 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2024 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.32%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.30%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">1.03%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2025 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2025 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2025 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">5.77%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">1.07%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.79%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">2.78%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2026 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2026 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2026 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.76%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.63%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.92%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2027 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2027 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | 2027 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">2.18%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">3.16%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Subsequent years | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">3.42%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Subsequent years | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Subsequent years | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 175<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 756<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Fair value | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 16<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Fair value | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Fixed to floating | Fair value | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 10<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.13%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.02%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.54%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">3.48%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2023 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.54%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2023 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2024 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2024 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.44%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.44%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2025 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2025 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">3.19%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2026 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2026 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.88%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2027 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | 2027 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">1.23%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | Subsequent years | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | Subsequent years | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">3.39%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">8.09%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">&#8364; (1,467)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | Fair value | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">&#8364; (9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Floating to fixed | Fair value | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">&#8364; (116)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageRateOfHedgingInstrument', window );">Average interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate', window );">Average spread (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">&#8364; (4,650)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(19,207)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(451)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(58)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(1,500)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(822)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2023 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2023 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2023 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(83)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2024 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2024 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2024 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(125)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(423)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2025 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2025 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2025 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(58)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(3,757)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2026 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2026 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2026 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(100)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(4,590)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2027 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2027 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | 2027 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(2,925)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(9,532)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(451)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(4,476)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(11,396)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Fair value | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(434)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Fair value | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Fixed to floating | Fair value | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(50)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(8,566)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(127)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(497)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2023 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(127)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2023 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2024 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2024 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(354)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2025 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2025 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(467)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2026 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2026 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(1,604)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2027 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | 2027 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(6,608)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(30)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(8,291)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | Fair value | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(130)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Receiving leg | Floating to fixed | Fair value | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(507)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">4,650<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">19,207<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">58<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2023 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">822<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2023 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2023 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2023 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2024 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">83<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2024 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2024 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2024 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">125<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2025 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">423<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2025 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2025 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2025 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">58<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2026 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3,757<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2026 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2026 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2026 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2027 | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">4,590<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2027 | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2027 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | 2027 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">2,925<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Subsequent years | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">9,532<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Subsequent years | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Subsequent years | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Subsequent years | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">4,651<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Fair value | USD | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">12,152<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Fair value | GBP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">450<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Fair value | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Fixed to floating | Fair value | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">60<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">8,566<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">127<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">497<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2023 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2023 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">127<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2023 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2024 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2024 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2024 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2025 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">354<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2025 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2025 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">467<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2026 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2026 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2026 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2027 | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,604<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2027 | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | 2027 | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | Subsequent years | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">6,608<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | Subsequent years | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | Subsequent years | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | Fair value | EUR | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">6,824<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | Fair value | CLP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">121<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_DerivativesMember', window );">Derivative instruments | Paying leg | Floating to fixed | Fair value | COP | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsLineItems', window );"><strong>Disclosure of financial assets [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 391<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageRateOfHedgingInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average rate of a hedging instrument. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 23B<br> -Subparagraph b<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_23B_b&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageRateOfHedgingInstrument</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of derivative financial assets held for hedging. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssetsHeldForHedging</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssetsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of derivative financial assets held for trading. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss, classified as held for trading]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssetsHeldForTrading</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis, Average Basis Spread On Variable Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_SensitivityAnalysisAverageBasisSpreadOnVariableRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>dtr-types:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember">
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<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=ifrs-full_TradingEquitySecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_EUR">
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<td style="white-space:nowrap;">srt_CurrencyAxis=currency_EUR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_GBP">
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<td style="white-space:nowrap;">srt_CurrencyAxis=currency_GBP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CLP</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td style="white-space:nowrap;">srt_CurrencyAxis=currency_COP</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489761980976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix IV: Financial Instruments - Derivative Financial Instruments Receivable / Payable (Details)<br> &#8364; in Millions</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>&#163; / &#8364;</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>$ / &#8364;</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>$ / $</div>
</th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>R$ / &#8364;</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 665<span></span>
</td>
<td class="nump">&#8364; 665<span></span>
</td>
<td class="nump">&#8364; 665<span></span>
</td>
<td class="nump">&#8364; 665<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="nump">0.83<span></span>
</td>
<td class="nump">1.13<span></span>
</td>
<td class="nump">3,742.44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 100<span></span>
</td>
<td class="nump">&#8364; 100<span></span>
</td>
<td class="nump">&#8364; 100<span></span>
</td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">95<span></span>
</td>
<td class="nump">95<span></span>
</td>
<td class="nump">95<span></span>
</td>
<td class="nump">95<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(19)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember', window );">Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">483<span></span>
</td>
<td class="nump">483<span></span>
</td>
<td class="nump">483<span></span>
</td>
<td class="nump">483<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="nump">&#8364; 4<span></span>
</td>
<td class="nump">&#8364; 4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="nump">0.87<span></span>
</td>
<td class="nump">1.03<span></span>
</td>
<td class="nump">4,660.76<span></span>
</td>
<td class="nump">5.58<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 8<span></span>
</td>
<td class="nump">&#8364; 8<span></span>
</td>
<td class="nump">&#8364; 8<span></span>
</td>
<td class="nump">&#8364; 8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(4)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">30<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">30<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">213<span></span>
</td>
<td class="nump">213<span></span>
</td>
<td class="nump">213<span></span>
</td>
<td class="nump">213<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">213<span></span>
</td>
<td class="nump">213<span></span>
</td>
<td class="nump">213<span></span>
</td>
<td class="nump">213<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(282)<span></span>
</td>
<td class="num">(282)<span></span>
</td>
<td class="num">(282)<span></span>
</td>
<td class="num">(282)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(282)<span></span>
</td>
<td class="num">(282)<span></span>
</td>
<td class="num">(282)<span></span>
</td>
<td class="num">(282)<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Forwards</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(2,587)<span></span>
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<td class="num">(2,587)<span></span>
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<td class="num">(2,587)<span></span>
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<td class="num">(2,587)<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(2,587)<span></span>
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<td class="num">(2,587)<span></span>
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<td class="num">(2,587)<span></span>
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<td class="num">(2,587)<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_BRL', window );">BRL | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">76<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="nump">76<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">76<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="nump">76<span></span>
</td>
<td class="nump">76<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">25<span></span>
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<td class="nump">25<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="nump">25<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">25<span></span>
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<td class="nump">25<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="nump">25<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Currency swaps</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(795)<span></span>
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<td class="num">(795)<span></span>
</td>
<td class="num">(795)<span></span>
</td>
<td class="num">(795)<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(335)<span></span>
</td>
<td class="num">(335)<span></span>
</td>
<td class="num">(335)<span></span>
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<td class="num">(335)<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(460)<span></span>
</td>
<td class="num">(460)<span></span>
</td>
<td class="num">(460)<span></span>
</td>
<td class="num">(460)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(768)<span></span>
</td>
<td class="num">(768)<span></span>
</td>
<td class="num">(768)<span></span>
</td>
<td class="num">(768)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(740)<span></span>
</td>
<td class="num">(740)<span></span>
</td>
<td class="num">(740)<span></span>
</td>
<td class="num">(740)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(28)<span></span>
</td>
<td class="num">(28)<span></span>
</td>
<td class="num">(28)<span></span>
</td>
<td class="num">(28)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLP', window );">CLP | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Currency swaps</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">367<span></span>
</td>
<td class="nump">367<span></span>
</td>
<td class="nump">367<span></span>
</td>
<td class="nump">367<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">367<span></span>
</td>
<td class="nump">367<span></span>
</td>
<td class="nump">367<span></span>
</td>
<td class="nump">367<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">114<span></span>
</td>
<td class="nump">114<span></span>
</td>
<td class="nump">114<span></span>
</td>
<td class="nump">114<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">114<span></span>
</td>
<td class="nump">114<span></span>
</td>
<td class="nump">114<span></span>
</td>
<td class="nump">114<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(734)<span></span>
</td>
<td class="num">(734)<span></span>
</td>
<td class="num">(734)<span></span>
</td>
<td class="num">(734)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(367)<span></span>
</td>
<td class="num">(367)<span></span>
</td>
<td class="num">(367)<span></span>
</td>
<td class="num">(367)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(367)<span></span>
</td>
<td class="num">(367)<span></span>
</td>
<td class="num">(367)<span></span>
</td>
<td class="num">(367)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(213)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(213)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
<td class="num">(213)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_COP', window );">COP | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">87<span></span>
</td>
<td class="nump">87<span></span>
</td>
<td class="nump">87<span></span>
</td>
<td class="nump">87<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">87<span></span>
</td>
<td class="nump">87<span></span>
</td>
<td class="nump">87<span></span>
</td>
<td class="nump">87<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CZK', window );">CZK | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">4,078<span></span>
</td>
<td class="nump">4,078<span></span>
</td>
<td class="nump">4,078<span></span>
</td>
<td class="nump">4,078<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,536<span></span>
</td>
<td class="nump">1,536<span></span>
</td>
<td class="nump">1,536<span></span>
</td>
<td class="nump">1,536<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">2,542<span></span>
</td>
<td class="nump">2,542<span></span>
</td>
<td class="nump">2,542<span></span>
</td>
<td class="nump">2,542<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">4,583<span></span>
</td>
<td class="nump">4,583<span></span>
</td>
<td class="nump">4,583<span></span>
</td>
<td class="nump">4,583<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">4,583<span></span>
</td>
<td class="nump">4,583<span></span>
</td>
<td class="nump">4,583<span></span>
</td>
<td class="nump">4,583<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(14,024)<span></span>
</td>
<td class="num">(14,024)<span></span>
</td>
<td class="num">(14,024)<span></span>
</td>
<td class="num">(14,024)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(673)<span></span>
</td>
<td class="num">(673)<span></span>
</td>
<td class="num">(673)<span></span>
</td>
<td class="num">(673)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(80)<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="num">(80)<span></span>
</td>
<td class="num">(80)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(46)<span></span>
</td>
<td class="num">(46)<span></span>
</td>
<td class="num">(46)<span></span>
</td>
<td class="num">(46)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(2,352)<span></span>
</td>
<td class="num">(2,352)<span></span>
</td>
<td class="num">(2,352)<span></span>
</td>
<td class="num">(2,352)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(3,966)<span></span>
</td>
<td class="num">(3,966)<span></span>
</td>
<td class="num">(3,966)<span></span>
</td>
<td class="num">(3,966)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(6,907)<span></span>
</td>
<td class="num">(6,907)<span></span>
</td>
<td class="num">(6,907)<span></span>
</td>
<td class="num">(6,907)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(890)<span></span>
</td>
<td class="num">(890)<span></span>
</td>
<td class="num">(890)<span></span>
</td>
<td class="num">(890)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(890)<span></span>
</td>
<td class="num">(890)<span></span>
</td>
<td class="num">(890)<span></span>
</td>
<td class="num">(890)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_EUR', window );">EUR | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,015<span></span>
</td>
<td class="nump">1,015<span></span>
</td>
<td class="nump">1,015<span></span>
</td>
<td class="nump">1,015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">564<span></span>
</td>
<td class="nump">564<span></span>
</td>
<td class="nump">564<span></span>
</td>
<td class="nump">564<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">451<span></span>
</td>
<td class="nump">451<span></span>
</td>
<td class="nump">451<span></span>
</td>
<td class="nump">451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">24<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">24<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="nump">24<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(796)<span></span>
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<td class="num">(796)<span></span>
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<td class="num">(796)<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">(796)<span></span>
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<td class="num">(796)<span></span>
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<td class="num">(796)<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_GBP', window );">GBP | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Receive | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
<td class="nump">107<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Pay | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Pay | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Pay | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Pay | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Pay | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Pay | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_JPY', window );">JPY | Pay | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(236)<span></span>
</td>
<td class="num">(236)<span></span>
</td>
<td class="num">(236)<span></span>
</td>
<td class="num">(236)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(217)<span></span>
</td>
<td class="num">(217)<span></span>
</td>
<td class="num">(217)<span></span>
</td>
<td class="num">(217)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(19)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
<td class="num">(19)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_MXN', window );">Mexican peso | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">32<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">32<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="nump">32<span></span>
</td>
<td class="nump">32<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(384)<span></span>
</td>
<td class="num">(384)<span></span>
</td>
<td class="num">(384)<span></span>
</td>
<td class="num">(384)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(384)<span></span>
</td>
<td class="num">(384)<span></span>
</td>
<td class="num">(384)<span></span>
</td>
<td class="num">(384)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_PEN', window );">PEN | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Receive | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">231<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="nump">231<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">231<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="nump">231<span></span>
</td>
<td class="nump">231<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Receive | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Pay | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(115)<span></span>
</td>
<td class="num">(115)<span></span>
</td>
<td class="num">(115)<span></span>
</td>
<td class="num">(115)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Pay | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(115)<span></span>
</td>
<td class="num">(115)<span></span>
</td>
<td class="num">(115)<span></span>
</td>
<td class="num">(115)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Pay | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Pay | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Pay | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Pay | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_CLF', window );">UFC | Pay | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">15,373<span></span>
</td>
<td class="nump">15,373<span></span>
</td>
<td class="nump">15,373<span></span>
</td>
<td class="nump">15,373<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,297<span></span>
</td>
<td class="nump">1,297<span></span>
</td>
<td class="nump">1,297<span></span>
</td>
<td class="nump">1,297<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">83<span></span>
</td>
<td class="nump">83<span></span>
</td>
<td class="nump">83<span></span>
</td>
<td class="nump">83<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">517<span></span>
</td>
<td class="nump">517<span></span>
</td>
<td class="nump">517<span></span>
</td>
<td class="nump">517<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,883<span></span>
</td>
<td class="nump">1,883<span></span>
</td>
<td class="nump">1,883<span></span>
</td>
<td class="nump">1,883<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">3,934<span></span>
</td>
<td class="nump">3,934<span></span>
</td>
<td class="nump">3,934<span></span>
</td>
<td class="nump">3,934<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">7,659<span></span>
</td>
<td class="nump">7,659<span></span>
</td>
<td class="nump">7,659<span></span>
</td>
<td class="nump">7,659<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,962<span></span>
</td>
<td class="nump">1,962<span></span>
</td>
<td class="nump">1,962<span></span>
</td>
<td class="nump">1,962<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">1,919<span></span>
</td>
<td class="nump">1,919<span></span>
</td>
<td class="nump">1,919<span></span>
</td>
<td class="nump">1,919<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">43<span></span>
</td>
<td class="nump">43<span></span>
</td>
<td class="nump">43<span></span>
</td>
<td class="nump">43<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(4,662)<span></span>
</td>
<td class="num">(4,662)<span></span>
</td>
<td class="num">(4,662)<span></span>
</td>
<td class="num">(4,662)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Currency swaps | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(1,665)<span></span>
</td>
<td class="num">(1,665)<span></span>
</td>
<td class="num">(1,665)<span></span>
</td>
<td class="num">(1,665)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Currency swaps | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Currency swaps | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(468)<span></span>
</td>
<td class="num">(468)<span></span>
</td>
<td class="num">(468)<span></span>
</td>
<td class="num">(468)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Currency swaps | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Currency swaps | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(2,529)<span></span>
</td>
<td class="num">(2,529)<span></span>
</td>
<td class="num">(2,529)<span></span>
</td>
<td class="num">(2,529)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Currency swaps | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(1,165)<span></span>
</td>
<td class="num">(1,165)<span></span>
</td>
<td class="num">(1,165)<span></span>
</td>
<td class="num">(1,165)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(1,165)<span></span>
</td>
<td class="num">(1,165)<span></span>
</td>
<td class="num">(1,165)<span></span>
</td>
<td class="num">(1,165)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Receive | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Receive | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">21<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Receive | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Receive | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Receive | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Receive | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Receive | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Pay | Forwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(18)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Pay | Forwards | 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="num">(18)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Pay | Forwards | 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Pay | Forwards | 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Pay | Forwards | 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Pay | Forwards | 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_UYU', window );">UYU | Pay | Forwards | Subsequent years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems', window );"><strong>Disclosure of maturity analysis for derivative financial liabilities [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssetsHeldForHedging', window );">Derivative financial assets held for hedging</a></td>
<td class="nump">&#8364; 0<span></span>
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<td class="nump">&#8364; 0<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average exchange rate used by the entity. Exchange rate is the ratio of exchange for two currencies.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageForeignExchangeRate</td>
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<td>na</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of derivative financial assets held for hedging. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssetsHeldForHedging</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfMaturityAnalysisForDerivativeFinancialLiabilitiesLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_CurrencySwapContractMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_BRL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_BRL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=tef_HedgingInstrumentstoReceiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=tef_HedgingInstrumentstoReceiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HedgingInstrumentsAxis=tef_HedgingInstrumentstoPayMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HedgingInstrumentsAxis=tef_HedgingInstrumentstoPayMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_CLP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CLP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_COP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_COP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_CZK">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CZK</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_EUR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_EUR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_GBP">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_GBP</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_JPY">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_JPY</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_MXN">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_MXN</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_PEN">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_PEN</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_CLF">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_CLF</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_USD">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_UYU">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_UYU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>272
<FILENAME>R256.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489795433136">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Appendix V: Interest-Bearing Debt (Details)<br> &#8364; in Millions, $ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jan. 26, 2022 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jan. 13, 2022 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">&#8364; 83,706<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 84,794<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Structured financing due January 31, 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">72<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Structured financing due October 31, 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">27<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">89<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Structured financing due March 11, 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">223<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">288<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Structured financing due March 11, 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">221<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Credit Facility due March 01, 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">5,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Bilateral Loan Due December 15, 2032</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Bilateral Loan Due June 23, 2033</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaSAMember', window );">Telefonica, S.A. | Sustainability-linked Syndicated Loan Due January 13, 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 5,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG | BEI Financing due June 13, 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">183<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">258<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG | Syndicated Loan Due December 17, 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG | BEI Financing (Tranche 1) due June 18, 2029</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">300<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaGermanyGmbHCoOHGMember', window );">Telef&#243;nica Germany GmbH &amp; Co. OHG | BEI Financing (Tranche 2) due July 14, 2029</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P. | Bilateral Loan due March 24, 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">117<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P. | Bilateral loan due March 19, 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">97<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_ColombiaTelecomunicacionesSAESPMember', window );">Colombia Telecomunicaciones S.A. E.S.P. | Bilateral Loan Due January 26, 2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EarlyRepaymentofDebt', window );">Early repayment of debt | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelxiusTelecomSAMember', window );">Telxius Telecom, S.A. | Syndicated loan due December 1, 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">162<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaMovilesChileS.A.Member', window );">Telef&#243;nica M&#243;viles Chile, S.A. | Bilateral Loan due September 29, 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">133<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">124<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_BlueviaFibraSLUMember', window );">Bluevia Fibra, S.L.U. | Syndicated loan due December 20, 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=tef_TelefonicaBrasilS.A.Member', window );">Telef&#243;nica Brasil, S.A. | Bilateral Loan Due September 28, 2023</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems', window );"><strong>Disclosure of detailed information about borrowings [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Contractual limit amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">&#8364; 199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 55<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2022-03-24<br> -Paragraph 112<br> -Subparagraph c<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=1&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EarlyRepaymentofDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Early Repayment of Debt</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EarlyRepaymentofDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=tef_TelefonicaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=tef_TelefonicaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueJanuary312023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueJanuary312023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueOctober312023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueOctober312023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueMarch112026Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueMarch112026Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueMarch1120262Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_StructuredFinancingDueMarch1120262Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_CreditFacilityDueMarch012023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_CreditFacilityDueMarch012023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueDecember152032Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueDecember152032Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=tef_BilateralLoanDueJune232033Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489806673824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group - Narrative (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<th class="th">
<div>Sep. 21, 2021 </div>
<div>state</div>
</th>
<th class="th">
<div>Feb. 22, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Dec. 11, 2018</div></th>
<th class="th"><div>Jan. 10, 2017</div></th>
<th class="th">
<div>Dec. 14, 2016 </div>
<div>MHz_band</div>
</th>
<th class="th"><div>Aug. 30, 2016</div></th>
<th class="th"><div>Apr. 27, 2016</div></th>
<th class="th">
<div>Jul. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Apr. 30, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Jul. 31, 2013</div></th>
<th class="th"><div>Aug. 31, 2009</div></th>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>EUR (&#8364;) </div>
<div>megabyte_per_second</div>
</th>
<th class="th">
<div>Oct. 07, 2021 </div>
<div>municipality</div>
</th>
<th class="th">
<div>Oct. 06, 2021 </div>
<div>municipality</div>
</th>
<th class="th">
<div>Dec. 31, 2020 </div>
<div>market</div>
</th>
<th class="th">
<div>Nov. 30, 2020 </div>
<div>market</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsAbstract', window );"><strong>Disclosure of detailed information about service concession arrangements [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ElectronicCommunicationRegulationPeriodToTranspose', window );">EECC, period to transpose</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_ElectronicCommunicationRegulationHarmonizationOfLicensesPeriod', window );">EECC, harmonization of licenses, period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates', window );">European Commission infringement proceedings, number of member states | state</a></td>
<td class="nump">18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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<td class="text">&#160;<span></span>
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation', window );">Relevant Market Recommendation, markets susceptible to ex ante regulation | market</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EuropeanCommissionDelegatedActMaximumMobileTerminationRate', window );">EC maximum mobile termination rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate', window );">EC maximum fixed termination rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 0.07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EuropeanCouncilRecoveryAndResilienceMechanism', window );">European Council, Recovery And Resilience Mechanism, funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 750,000,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_EuropeanCouncilRecoveryAndResilienceMechanismPercentageDevotedToDigitalization', window );">European Council, Recovery And Resilience Mechanism, percentage of funds devoted to digitalization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense', window );">Regulations on digital services, potential fine on total worldwide turnover, first offense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverRepeatOffense', window );">Regulations on digital services, potential fine on total worldwide turnover, repeat offense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulationForBreachofNewDataProtectionRules', window );">Percentage of fines issued by the general data protection regulation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulation', window );">Percentage of fines issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsFrequencyofBand', window );">Frequency of band (MHz) | MHz_band</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_NewBroadbandEthernetServiceMonthlyRate', window );">New broadband ethernet service, monthly rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 16.68<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BroadbandMarketAnalysisNewGenerationNetworksNumberOfMunicipalities', window );">Broadband market analysis, new generation networks, number of municipalities | municipality</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">696<span></span>
</td>
<td class="nump">66<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_BroadbandMarketAnalysisNewGenerationNetworksPercentageOfMunicipalitiesWhereSpanishPopulationLives', window );">Broadband market analysis, new generation networks, percentage of municipalities where Spanish population lives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount', window );">Spectrum license acquisition, amount paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 21,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 310,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome', window );">Percentage of fixed annual provision of invoiced operating income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompanies', window );">Percentage of gross revenue for open concessionaire companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompaniestoProvidePayTVServices', window );">Percentage of gross revenue for open concessionaire companies to provide pay TV services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsSpeedofNetworkInfrastructureAccessforDataTransmissioninCopperPairsorCoaxialCables', window );">Speed of network infrastructure access for data transmission in copper pairs or coaxial cables (Mbit per second) | megabyte_per_second</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsSpeedofWholesaleFixedNetworkInfrastructuretoTransportLocalandLongDistancesTransmission', window );">Speed of wholesale fixed network infrastructure to transport local and long distance transmission (Mbit per second) | megabyte_per_second</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageofForeignDirectInvestmentAllowed', window );">Percentage of foreign direct investment allowed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines', window );">Percentage of increase in administrative fines</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPeriodofApplicableTariffsforServicesProvided', window );">Period of applicable tariffs for services provided</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfServiceConcessionArrangementsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfServiceConcessionArrangementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BroadbandMarketAnalysisNewGenerationNetworksNumberOfMunicipalities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Broadband Market Analysis, New Generation Networks, Number Of Municipalities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BroadbandMarketAnalysisNewGenerationNetworksNumberOfMunicipalities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_BroadbandMarketAnalysisNewGenerationNetworksPercentageOfMunicipalitiesWhereSpanishPopulationLives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Broadband Market Analysis, New Generation Networks, Percentage Of Municipalities Where Spanish Population Lives</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_BroadbandMarketAnalysisNewGenerationNetworksPercentageOfMunicipalitiesWhereSpanishPopulationLives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>dtr-types:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ElectronicCommunicationRegulationHarmonizationOfLicensesPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Electronic Communication Regulation, Harmonization Of Licenses, Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ElectronicCommunicationRegulationHarmonizationOfLicensesPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_ElectronicCommunicationRegulationPeriodToTranspose">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Electronic Communication Regulation, Period To Transpose</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_ElectronicCommunicationRegulationPeriodToTranspose</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>European Commission Delegated Act, Maximum Fixed Termination Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EuropeanCommissionDelegatedActMaximumFixedTerminationRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EuropeanCommissionDelegatedActMaximumMobileTerminationRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>European Commission Delegated Act, Maximum Mobile Termination Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EuropeanCommissionDelegatedActMaximumMobileTerminationRate</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>European Commission Infringement Proceedings, Number Of Member States</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EuropeanCommissionInfringementProceedingsNumberOfMemberStates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EuropeanCouncilRecoveryAndResilienceMechanism">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>European Council, Recovery And Resilience Mechanism</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EuropeanCouncilRecoveryAndResilienceMechanism</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_EuropeanCouncilRecoveryAndResilienceMechanismPercentageDevotedToDigitalization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>European Council, Recovery And Resilience Mechanism, Percentage Devoted To Digitalization</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_EuropeanCouncilRecoveryAndResilienceMechanismPercentageDevotedToDigitalization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
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<tr>
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<tr>
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<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_NewBroadbandEthernetServiceMonthlyRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>New Broadband Ethernet Service, Monthly Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_NewBroadbandEthernetServiceMonthlyRate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulations On Digital Services, Possible Fine On Total Worldwide Turnover, First Offense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverRepeatOffense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulations On Digital Services, Possible Fine On Total Worldwide Turnover, Repeat Offense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverRepeatOffense</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsFrequencyofBand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Frequency of Band</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsFrequencyofBand</td>
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<td>tef_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage Of Fines Issued by the General Data Protection Regulation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulationForBreachofNewDataProtectionRules">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage Of Fines Issued by the General Data Protection Regulation For Breach of New Data Protection Rules</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageOfFinesIssuedbytheGeneralDataProtectionRegulationForBreachofNewDataProtectionRules</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage Of Fixed Annual Provision of Invoiced Operating Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageOfFixedAnnualProvisionofInvoicedOperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageofForeignDirectInvestmentAllowed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage of Foreign Direct Investment Allowed</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageofForeignDirectInvestmentAllowed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage of Gross Revenue for Open Concessionaire Companies</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompaniestoProvidePayTVServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage of Gross Revenue for Open Concessionaire Companies to Provide Pay TV Services</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageofGrossRevenueforOpenConcessionaireCompaniestoProvidePayTVServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage of Increase in Administrative Fines</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageofIncreaseinAdministrativeFines</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPeriodofApplicableTariffsforServicesProvided">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Period of Applicable Tariffs for Services Provided</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPeriodofApplicableTariffsforServicesProvided</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Spectrum License Acquisition, Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsSpectrumLicenseAcquisitionAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsSpeedofNetworkInfrastructureAccessforDataTransmissioninCopperPairsorCoaxialCables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Speed of Network Infrastructure Access for Data Transmission in Copper Pairs or Coaxial Cables</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsSpeedofNetworkInfrastructureAccessforDataTransmissioninCopperPairsorCoaxialCables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsSpeedofWholesaleFixedNetworkInfrastructuretoTransportLocalandLongDistancesTransmission">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Speed of Wholesale Fixed Network Infrastructure to Transport Local and Long Distances Transmission</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsSpeedofWholesaleFixedNetworkInfrastructuretoTransportLocalandLongDistancesTransmission</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Relevant Market Recommendation, Markets Susceptible To Ex Ante Regulation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RelevantMarketRecommendationMarketsSusceptibleToExAnteRegulation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489663730448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group - Schedule of Service Concession Arrangements (Details)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2022 </div>
<div>mhz_frequency </div>
<div>MHz_band </div>
<div>GHz_spectrum_band </div>
<div>ghz_frequency </div>
<div>mhz_per_2100mhz_frequency </div>
<div>location </div>
<div>region</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>MHz_band</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsFrequencyRangeOwnedbyTelefonica', window );">Frequency range owned by Telefonica (GHz) | GHz_spectrum_band</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2041Member', window );">Expiring in 2041 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2041Member', window );">Expiring in 2041 | Brazil | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2041Member', window );">Expiring in 2041 | Brazil | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2031Member', window );">Expiring in 2031 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2030Member', window );">Expiring in 2030 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">29.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2030Member', window );">Expiring in 2030 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option2Member', window );">Expiring in 2030, Option 2 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option3Member', window );">Expiring in 2030, Option 3 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option4Member', window );">Expiring in 2030, Option 4 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">29.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option5Member', window );">Expiring in 2030, Option 5 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2030Option6Member', window );">Expiring in 2030, Option 6 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2030Option7Member', window );">Expiring in 2030, Option 7 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsLicenseAmountsOfRegionsExcluded', window );">Amount of regions excluded in national license | region</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2030Option8Member', window );">Expiring in 2030, Option 8 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2038Member', window );">Expiring in 2038 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2038Member', window );">Expiring in 2038 | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2038Option2Member', window );">Expiring In 2038, Option 2 | Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption1Member', window );">Indefinite, Option 1 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption1Member', window );">Indefinite, Option 1 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption1Member', window );">Indefinite, Option 1 | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption2Member', window );">Indefinite, Option 2 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption2Member', window );">Indefinite, Option 2 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption3Member', window );">Indefinite, Option 3 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">34.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption3Member', window );">Indefinite, Option 3 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption4Member', window );">Indefinite, Option 4 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">11.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption4Member', window );">Indefinite, Option 4 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption5Member', window );">Indefinite, Option 5 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption5Member', window );">Indefinite, Option 5 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption6Member', window );">Indefinite, Option 6 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption6Member', window );">Indefinite, Option 6 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsNumberOfLocalities', window );">Number of localities with indefinite term | location</a></td>
<td class="nump">23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption6Member', window );">Indefinite, Option 6 | Argentina | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption7Member', window );">Indefinite, Option 7 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption8Member', window );">Indefinite, Option 8 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption9Member', window );">Indefinite, Option 9 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_IndefiniteOption10Member', window );">Indefinite, Option 10 | United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2033Member', window );">Expiring in 2033 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2033Member', window );">Expiring in 2033 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2033Member', window );">Expiring in 2033 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_per_2100mhz_frequency</a></td>
<td class="nump">1,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2033Member', window );">Expiring in 2033 | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2025Member', window );">Expiring in 2025 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2033Option2Member', window );">Expiring in 2033, Option 2 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2033Option2Member', window );">Expiring in 2033, Option 2 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_per_2100mhz_frequency</a></td>
<td class="nump">1,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2033Option3Member', window );">Expiring in 2033, Option 3 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option1Member', window );">Expiring in 2025, Option 1 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option2Member', window );">Expiring in 2025, Option 2 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option3Member', window );">Expiring in 2025, Option 3 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">14.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2040Member', window );">Expiring in 2040 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option4Member', window );">Expiring in 2025, Option 4 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option5Member', window );">Expiring in 2025, Option 5 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option6Member', window );">Expiring in 2025, Option 6 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2040Option2Member', window );">Expiring in 2040, Option 2 | Germany</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">70<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2027Member', window );">Expiring in 2027 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">450<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsInitialTerm', window );">Initial term</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2027Member', window );">Expiring in 2027 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2029Member', window );">Expiring in 2029 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsInitialTerm', window );">Initial term</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2029Member', window );">Expiring in 2029 | Venezuela</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2028Member', window );">Expiring in 2028 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2028Member', window );">Expiring in 2028 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">450<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Member', window );">Expiring in 2023-2035 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Member', window );">Expiring in 2023-2035 | Brazil | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Member', window );">Expiring in 2023-2035 | Brazil | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Option2Member', window );">Expiring in 2023-2035, Option 2 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Option2Member', window );">Expiring in 2023-2035, Option 2 | Brazil | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwidthRegional', window );">Regulatory Operations, Concessions and License Bandwidth, Regional</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Option2Member', window );">Expiring in 2023-2035, Option 2 | Brazil | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwidthRegional', window );">Regulatory Operations, Concessions and License Bandwidth, Regional</a></td>
<td class="nump">65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2023Member', window );">Expiring in 2023 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsInitialTerm', window );">Initial term</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2023Member', window );">Expiring in 2023 | Brazil | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2023Member', window );">Expiring in 2023 | Brazil | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2023Member', window );">Expiring in 2023 | Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_per_2100mhz_frequency</a></td>
<td class="nump">1,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2023Member', window );">Expiring in 2023 | Ecuador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2041Option3Member', window );">Expiring in 2041, Option 3 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsInitialTerm', window );">Initial term</a></td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2041Option3Member', window );">Expiring in 2041, Option 3 | Brazil | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2041Option3Member', window );">Expiring in 2041, Option 3 | Brazil | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin20272031Member', window );">Expiring in 2027-2031 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsInitialTerm', window );">Initial term</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwidthAdditionalBandwith', window );">Additional Bandwith (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin20272031Member', window );">Expiring in 2027-2031 | Brazil | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin20272031Member', window );">Expiring in 2027-2031 | Brazil | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2041Option1Member', window );">Expiring In 2041, Option 1 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsInitialTerm', window );">Initial term</a></td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2041Option2Member', window );">Expiring In 2041, Option 2 | Brazil</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">26<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPossibleTermExtension', window );">Possible term extension</a></td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsInitialTerm', window );">Initial term</a></td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2035Member', window );">Expiring in 2035 | Argentina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea', window );">Population in service area (as a percent)</a></td>
<td class="nump">65.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2045Member', window );">Expiring in 2045 | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2045Member', window );">Expiring in 2045 | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2032Member', window );">Expiring in 2032 | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwithSold', window );">Concessions and license bandwith sold (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwithTotalAuction', window );">Total auction of concessions and license bandwith (MHz)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">700<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2043Member', window );">Expiring in 2043 | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">2,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_ExpiringIn2051Member', window );">Expiring in 2051 | Chile</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2024Member', window );">Expiring in 2024 | Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2024Member', window );">Expiring in 2024 | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2024Option1Member', window );">Expiring in 2024, Option 2 | Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2024Option1Member', window );">Expiring in 2024, Option 2 | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2021Member', window );">Expiring in 2021 | Colombia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2023Option2Member', window );">Expiring in 2023, Option 2 | Ecuador</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2022Option2Member', window );">Expiring in 2022, Option 2 | Venezuela</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_per_2100mhz_frequency</a></td>
<td class="nump">1,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2022Member', window );">Expiring in 2022 | Venezuela</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2022Option1Member', window );">Expiring in 2022, Option 1 | Venezuela</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2036Member', window );">Expiring in 2036 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2028Option2Member', window );">Expiring in 2028, Option 2 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2028Option3Member', window );">Expiring in 2028, Option 3 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option1Member', window );">Expiring in 2030, Option 1 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2018Member', window );">Expiring in 2018 | Peru</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2037Member', window );">Expiring in 2037 | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin20222024Member', window );">Expiring in 2022-2024 | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | mhz_frequency</a></td>
<td class="nump">1,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2026Member', window );">Expiring in 2026 | Venezuela</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency', window );">Frequency | ghz_frequency</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz) | GHz_spectrum_band</a></td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_MaturityAxis=tef_Expiringin2020Member', window );">Expiring in 2020 | Uruguay</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems', window );"><strong>Disclosure of detailed information about service concession arrangements [line items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth', window );">Bandwidth (MHz)</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with members defined in one or many axes of the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfServiceConcessionArrangementsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwidthAdditionalBandwith">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Concessions And License Bandwidth, Additional Bandwith</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsConcessionsAndLicenseBandwidthAdditionalBandwith</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwidthRegional">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Concessions and License Bandwidth, Regional</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsConcessionsAndLicenseBandwidthRegional</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwithSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Concessions And License Bandwith, Sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsConcessionsAndLicenseBandwithSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsConcessionsAndLicenseBandwithTotalAuction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Concessions And License Bandwith, Total Auction</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsConcessionsAndLicenseBandwithTotalAuction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsConcessionsandLicenseBandwidth">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Concessions and License Bandwidth</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsConcessionsandLicenseBandwidth</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsConcessionsandLicensesFrequency">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Concessions and Licenses Frequency</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsConcessionsandLicensesFrequency</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsFrequencyRangeOwnedbyTelefonica">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Frequency Range Owned by Telefonica</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsFrequencyRangeOwnedbyTelefonica</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsInitialTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Initial Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsInitialTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsLicenseAmountsOfRegionsExcluded">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, License, Amounts Of Regions Excluded</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsLicenseAmountsOfRegionsExcluded</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsNumberOfLocalities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Number Of Localities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsNumberOfLocalities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Percentage of Total Population in Service Area</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPercentageofTotalPopulationinServiceArea</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_tef_RegulatoryOperationsPossibleTermExtension">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Regulatory Operations, Possible Term Extension</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">tef_RegulatoryOperationsPossibleTermExtension</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>tef_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2041Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2041Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_BR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2031Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2031Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2030Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2030Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_PE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_PE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2030Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2030Option3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2030Option4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option5Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2030Option5Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn2030Option6Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn2030Option6Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn2030Option7Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn2030Option7Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn2030Option8Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn2030Option8Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2038Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2038Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn2038Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn2038Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_GB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_GB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_AR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_AR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption5Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption5Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption6Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption6Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption7Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption7Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption8Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption8Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption9Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption9Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_IndefiniteOption10Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_IndefiniteOption10Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2033Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2033Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_DE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_DE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_UY">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_UY</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2025Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2025Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2033Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2033Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2033Option3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2033Option3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2025Option1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2025Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2025Option3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2040Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2040Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option4Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2025Option4Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option5Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2025Option5Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2025Option6Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2025Option6Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn2040Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn2040Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2027Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2027Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2029Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2029Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_VE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_VE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn20232035Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn20232035Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn20232035Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CO">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CO</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_EC">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_EC</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_ExpiringIn2041Option3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin20272031Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2045Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2032Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2043Member</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_ExpiringIn2051Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2024Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2024Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2024Option1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2024Option1Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2021Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2021Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2023Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2023Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2022Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2022Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2022Option1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2022Option1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2036Member">
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2036Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2028Option2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2028Option2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2028Option3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2028Option3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2030Option1Member">
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin2018Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=tef_Expiringin2037Member">
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=tef_Expiringin20222024Member</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140489794075504">
<tr>
<th class="tl" colspan="1">Label</th>
<th class="tl"><strong>Element</strong></th>
<th class="th" colspan="1">Value</th>
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<td class="nump">&#8364; 5,209,000,000<span></span>
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<td class="th" style="border-bottom: 0px;">ifrs-full_CashEquivalents</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2022-03-24<br> -Paragraph 45<br> -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&amp;num=7&amp;code=ifrs-tx-2022-en-r&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2022-03-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yNzcvZnJhZzpiYzlmZjBmZjMxNGU0ZTJiYjYxZWExZGUyOTU5M2NjMy90ZXh0cmVnaW9uOmJjOWZmMGZmMzE0ZTRlMmJiNjFlYTFkZTI5NTkzY2MzXzE2NzU_1cee5bcb-3ab9-4f4e-bb3a-1fdcac374efe">Background and general information&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica, S.A. and its subsidiaries and investees (hereinafter also referred to as Telef&#xf3;nica, the Company, the Telef&#xf3;nica Group or the Group) make up an integrated and diversified telecommunications group operating mainly in Europe and Latin America. The Group&#x2019;s activity is centered around services of fixed and wireless telephony, broadband, Internet, data traffic, Pay TV and other digital services. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The parent company of the Group is Telef&#xf3;nica, S.A., a public limited company incorporated on April 19, 1924 for an indefinite period. Its registered office is at calle Gran V&#xed;a 28, Madrid (Spain). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Appendix I lists the main companies composing the Telef&#xf3;nica Group, their corporate purpose, country, functional currency, share capital, the Group&#x2019;s effective shareholding and their method of consolidation. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica Group are detailed in Appendix VI. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The accompanying consolidated financial statements for the year ended December&#160;31, 2022 were approved by the Company&#x2019;s Board of Directors at its meeting on February 22, 2023 for submission for approval at the General Shareholders&#x2019; Meeting, which is expected to occur without modification.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
    <ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzExOTU5_76b9d990-e421-43cc-b606-0bb0ad169427">Basis of presentation of the consolidated financial statements&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The accompanying consolidated financial statements were prepared from the accounting records of Telef&#xf3;nica, S.A. and each of the companies comprising the Telef&#xf3;nica 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 present fairly, in all material respects, the consolidated equity and financial position at December&#160;31, 2022, and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The euro is the Group&#x2019;s reporting currency.&#160;The figures in these consolidated financial statements are expressed in million euros, unless indicated otherwise, and may therefore be rounded. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Materiality criteria &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica Group&#x2019;s consolidated financial statements, taken as a whole, are concerned.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Comparative information and main changes in the consolidation scope &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For comparative purposes, the accompanying consolidated financial statements for 2022 include the figures for 2021, 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 2020.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2022 and 2021 (see Appendix I for a detailed description of the consolidation scope and the changes during the year) are as listed below.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Exchange rates evolution&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.234%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Variation of average exchange rate vs euro&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022 vs 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&lt;br/&gt;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021 vs 2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Pound sterling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;New peruvian sol&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Chilean peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombian peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5.1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Mexican peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.234%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Variation of closing exchange rate vs euro&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022 vs 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021 vs 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Pound sterling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5.3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;New peruvian sol&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Chilean peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombian peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Mexican peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, there was a positive impact on Equity attributable to equity holders of the Parent Company for translation differences amounting to 1,169 million euros (see Note 17.f), mainly due to the appreciation of the Brazilian real.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement between Telef&#xf3;nica and Liberty Global plc to combine their operating businesses in the UK&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 7, 2020, Telef&#xf3;nica reached an agreement with Liberty Global plc to combine into a 50-50 joint venture their operating businesses in the United Kingdom (O2 Holdings Ltd. and Virgin Media UK, respectively). On June 1, 2021 after obtaining the relevant regulatory approvals, consummation of the necessary recapitalization and satisfaction of other closing conditions, the closing of the transaction was carried out, resulting in the combination of both businesses into the joint venture called VMED O2 UK Limited ("VMO2"). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telefonica United Kingdom, which was fully consolidated within the Group, is excluded from the scope of consolidation from June 1, 2021 (Note 4). From that date, VMO2 is registered under the equity method (see notes 4 and 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The constitution of the joint venture resulted in a contribution of 5,376 million pounds sterling (equivalent to 6,234 million euros at  the transaction day) for Telefonica, of which 2,622 million pounds correspond to the cash payment to Telef&#xf3;nica to equalise ownership in the joint venture (including the post-completion adjustment, see Note 29.c) and 2,754 million pounds correspond to proceeds from recapitalization.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As a consequence of this transaction, the Group   recognized a gain amounting to 4,460 million euros in &#x201c;Other income&#x201d; in 2021 (see Note 26), as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6,234&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Fair value of 50% of VMO2 (Note 10)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;12,012&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Less: carrying amount of Telefonica United Kingdom at June 1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(10,937)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Liabilities assumed and other costs (see Note 29.c)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(441)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Result before reclassification of translation differences and gains on hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;6,868&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Reclassification of translation differences included in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(3,135)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Reclassification of gains on hedges included in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Result of the transaction: gain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;4,460&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, the accumulated actuarial losses of Telefonica United Kingdom amounting to 392 million euros were reclassified to retained earnings, with no effect in net equity. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement between Telxius Telecom and American Tower Corporation for the sale of its telecommunications towers divisions in Europe and Latin America&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 13, 2021 Telxius Telecom, S.A. (a company of the Telef&#xf3;nica 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).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The agreement established 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), fixing the respective closures after the corresponding regulatory authorizations. The agreement included the transfer to ATC of the towers that Telxius agreed to acquire from Telef&#xf3;nica Germany GmbH &amp;amp; Co. under the agreement signed on June 8, 2020, both the towers acquired in the first phase on September 1, 2020 as well as the towers that were acquired in the second phase in August 2021.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 1, 2021, once the relevant regulatory approvals had been obtained in Spain and Germany, the closing of the sale of the telecommunication towers division located in Europe was carried out, for a total selling price of 6,346 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 3, 2021, the closing of the sale of the telecommunication towers division located in Latin America was carried out, for a selling price of 887 million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On August 2, 2021, the closing of the sale to ATC of 4,080 sites that Telxius undertook to acquire from Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG, under the second phase of the agreement reached between both parties on June 8, 2020 was carried out, which stated a total purchase price of 632 million euros. With the closing of this transaction, together with the sales of the telecommunications towers divisions in Europe and Latin America carried out in June, the sale process agreed between Telxius and ATC was finalized.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;These transactions generated in 2021 a gain of 6,099 million euros registered in "Other income" (see Note 26), with the following breakdown:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:73.607%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.193%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Selling price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,865&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Less: carrying amount of net assets and transaction costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,729&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Result before reclassification of translation differences &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result of the transaction: gain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,099&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(162)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Result attributable to non-controlling shareholders&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result attributable to equity holders of the parent&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,691&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;After the closing of these transactions, the companies of the Europe and Latin Am&#xe9;rica towers divisions were excluded from the consolidation perimeter. The Telef&#xf3;nica Group operators maintained the leases agreements of the towers signed with the sold subsidiaries of Telxius. Consequently, as of the closing date of the transactions, rights of use and lease liabilities were recorded in the consolidated statement of financial position, amounting to 2,633 million euros (see Note 9) and 2,775 million euros (see Note 20), respectively. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:12pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:110%"&gt;Acquisition of mobile assets of Oi Group&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 20, 2022, the closing of the transaction related to the Purchase Agreement for Acquisition of Unidade Produtiva Isolada (UPI) Mobile Assets of Oi Group took place, and Telef&#xf3;nica Brasil acquired, on such date, all the shares of the company Garliava RJ Infraestrutura e Redes de Telecomunica&#xe7;&#xf5;es S.A. (Garliava), to which the mobile assets of Oi Group assigned to Telef&#xf3;nica Brazil had been contributed, under the segregation plan stated in the Oi Agreement (see Note 29.c).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Telef&#xf3;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount, still subject to adjustments, of 5,373 million Brazilian reais (approximately 1,063 million euros at the exchange rate at such date), A payment of 4,885 million Brazilian reais (approximately 972 million euros) was made at closing of the transaction. The remaining amount, equivalent to 10% of the payment made on that date, is withheld subject to certain price adjustments and potential indemnification obligations contained in the Oi Agreement. The total consideration also includes 110 million Brazilian reais subject to the fulfilment of certain targets, and other costs amounting to 8 million Brazilian reais. Thus, the total consideration transferred amounted to 5,492 million Brazilian reais (1,093 million euros at the date of the closing of the transaction). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;On the date of approval of these consolidated financial statements, the Company had already concluded the report for the allocation of the purchase price. The fair value assigned to Oi's licenses amounts to 520 million euros. The goodwill amounts to 676 million euros (see Note 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Agreement between Telef&#xf3;nica de Espa&#xf1;a and Telef&#xf3;nica Infra with Vauban Infrastructure Partners and Credit Agricole Assurance for the establishment of Bluevia&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In July 2022, an agreement was reached between Telefonica de Espa&#xf1;a and Telefonica Infra with the consortium formed by Vauban Infrastructure Partners (Vauban) and Cr&#xe9;dit Agricole Assurances (CAA) for the establishment of a company, Bluevia Fibra, S.L. for the deployment and commercialization of a fiber to the home network mainly in rural areas in Spain.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 20, 2022 once the regulatory authorizations were obtained and after the fulfillment of the remaining agreed conditions, the transaction was completed.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The consortium formed by CAA and Vauban has acquired 45% of the Company for a total amount of 1,021 million euros in cash, paid on the closing of the agreement (see Note 28). The transaction had no impact on the consolidated income statements of the Telef&#xf3;nica Group as it consisted on the sale of minority interest, with Telef&#xf3;nica retaining control over Bluevia. The impact of this transaction in equity attributable to equity holders of the parent was an increase of 986 million euros in "Retained earnings". In addition, there was in increase in equity attributable to non-controlling interest amounting to 23 million euros (see Note 17).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The difference between the tax value of the assets transferred to Bluevia and their carrying amount in the Group's consolidated annual accounts generated a deferred tax asset for deductible temporary differences amounting to 548 million euros (see Note 25).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Individual Suspension Plan&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 28, 2021, Telef&#xf3;nica Spain signed a Social Pact for Employment supported by the largest trade unions. Said Pact includes the Company&#x2019;s differential commitments and is based on the following six lines of work: equality and diversity; new ways of working, flexibility and productivity; incorporation and retention of talent; reskilling and professional development; functional and geographical mobility; and a plan for the voluntary individual suspension of the employment relationship (the Individual Suspension Plan).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The target audience of the Individual Suspension Plan are the employees turning 55 years or older in 2022 and with a seniority of more than 20 years. Maximum percentages of adhesion differ according to the areas. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The present value of the estimated payment flows resulting from the Plan resulted in expenses amounting to 1,382 million euros before taxes in 2021 (see Note 24), reflected in "Personnel expenses" to the Consolidated Financial Statements).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Impairment of goodwill of Telef&#xf3;nica del Per&#xfa;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#xf3;nica del Per&#xfa;, amounting to 393 million euros (see Note 7).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#1f497d;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%"&gt;ANNEX 1&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.453%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:64.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acronym&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;State&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acre&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alagoas&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amap&#xe1;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AM&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amazonas&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bahia&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ceara&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Distrito Federal&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ES&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Esp&#xed;rito Santo&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goi&#xe1;s&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Maranh&#xe3;o&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MT&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mato Grosso&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mato Grosso do Sul&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Minas Gerais&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Par&#xe1;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PB&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Para&#xed;ba&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paran&#xe1;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pernambuco&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PI&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Piau&#xed;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RJ&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rio de Janeiro&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rio Grande do Norte&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rio Grande do Sul&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rond&#xf4;nia&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Roraima&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Santa Catarina&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;S&#xe3;o Paulo&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sergipe&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tocantins&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.453%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:64.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Regions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;States &amp;amp; towns&lt;br/&gt;included in the regions&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP (City)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP (Interior)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP -&#160;&#160;towns of sector 33 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RJ and ES&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG -&#160;&#160;towns of sector 3 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR and SC&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR - towns of sector 20 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS - towns of sector 30 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AC, DF, GO, MS, MT, RO and TO&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GO - towns of sector 25 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7''&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS - towns of sector 22 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AM, AP, MA, PA and RR&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BA and SE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AL, CE, PB, PE, PI and RN&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.453%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:64.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sectors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;GPLG -&#160;&#160;general plan of the licenses granted&#160;&#160;(geographic areas that correspond to the sectors)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RJ&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG - except towns included in sector 3&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG - towns of&#160;&#160;Arapor&#xe3;, Ara&#xfa;jo, Campina Verde, Campo Florido, Campos Altos, Can&#xe1;lopis, Capin&#xf3;polis, Carmo do Parana&#xed;ba, Carneirinhos, Centralina, Comendador Gomes, Concei&#xe7;&#xe3;o das Alagoas, C&#xf3;rrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhat&#xe3;, Ibiraci, Igaratinga, Iguatama, Indian&#xf3;polis, Ipia&#xe7;&#xfa;, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Par&#xe1; de Minas, Patos de Minas, Pedrin&#xf3;polis, Pequi, Perdig&#xe3;o, Pirajuba, Pitangui, Planura, Prata, Presidente Oleg&#xe1;rio, Rio Parana&#xed;ba, Santa Juliana, Santa Vit&#xf3;ria, S&#xe3;o Francisco de Sales, S&#xe3;o Jos&#xe9; da Varginha, Tupaciguara, Uberaba, Uberl&#xe2;ndia, Uni&#xe3;o de Minas &amp;amp; Vazante&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ES&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BA&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AL&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PB&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RN&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PI&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MA&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;14&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PA&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AP&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AM&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RR&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SC&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR &#x2013;except&#160;&#160;towns included of sector 20&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR &#x2013; towns of Londrina and Tamarana&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS &#x2013; except the town integrating of sector 22&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS &#x2013; town of Parana&#xed;ba&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MT&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TO and GO &#x2013; except&#160;&#160;towns included in sector 25&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GO &#x2013; towns of Buriti Alegre, Cachoeira Dourada, Inaciol&#xe2;ndia, Itumbiara, Paranaiguara and S&#xe3;o Sim&#xe3;o&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DF&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RO&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AC&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;30&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS &#x2013; towns of Pelotas, Cap&#xe3;o do Le&#xe3;o, Morro Redondo and Turu&#xe7;u&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP &#x2013; except the towns included in sector 33&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;33&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP &#x2013; towns of Altin&#xf3;polis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, C&#xe1;ssia dos Coqueiros, Col&#xf4;mbia, Franca, Gua&#xed;ra, Guar&#xe1;, Ipu&#xe3;, Ituverava, Jardin&#xf3;polis, Miguel&#xf3;polis, Morro Agudo, Nuporanga, Orl&#xe2;ndia, Ribeir&#xe3;o Corrente, Sales de Oliveira, Santa Cruz da Esperan&#xe7;a, Santo Ant&#xf4;nio da Alegria and S&#xe3;o Joaquim da Barra&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory>
    <ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzExOTQ1_cb0ad388-3f30-49c0-965f-39fd1a37fb9c">&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.234%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Variation of average exchange rate vs euro&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022 vs 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&lt;br/&gt;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021 vs 2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Pound sterling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;New peruvian sol&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Chilean peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombian peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5.1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Mexican peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.234%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Variation of closing exchange rate vs euro&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022 vs 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021 vs 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Pound sterling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5.3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;New peruvian sol&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Chilean peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombian peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Mexican peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td 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      unitRef="number">0.047</tef:AnnualVarianceInClosingExchangeRate>
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      decimals="3"
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      unitRef="number">-0.066</tef:AnnualVarianceInClosingExchangeRate>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzgtMS0xLTEtNTEwNDQy_3f6502d3-6275-4382-a1aa-d4e51420154f"
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    <tef:AnnualVarianceInClosingExchangeRate
      contextRef="ib13414948e52402c90287d2ebc58157b_D20210101-20211231"
      decimals="3"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90YWJsZTo2MDI0YmEzZmE1YWY0ZDdkYjFiZjkzNTU4YjlmYWYxNy90YWJsZXJhbmdlOjYwMjRiYTNmYTVhZjRkN2RiMWJmOTM1NThiOWZhZjE3XzgtMi0xLTEtNTEwNDQy_192f0fea-6679-4b8a-ab68-32a1bda2300d"
      unitRef="number">0.054</tef:AnnualVarianceInClosingExchangeRate>
    <tef:IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NDAxNjI_143c195e-19c1-47a1-badf-bd00faa5c005"
      unitRef="eur">1169000000</tef:IncreaseDecreaseInEquityDueToDepreciationOfEuroToMajorCurrencies>
    <ifrs-full:ProportionOfOwnershipInterestInJointVenture
      contextRef="iab28d64ba27441e6a6fcda3dc3dfff95_D20200507-20200507"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzI3Njc_d2cdb177-6533-4588-92cc-013c3f1482a7"
      unitRef="number">0.50</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
    <ifrs-full:ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod
      contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQxNzQ_66cdec2c-bb19-4d15-8803-afb2ab3d5319"
      unitRef="gbp">5376000000</ifrs-full:ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod>
    <ifrs-full:ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod
      contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQyMTY_b97ef1ed-ca2a-476c-a8f8-a02652472c66"
      unitRef="eur">6234000000</ifrs-full:ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod>
    <tef:ProceedsFromEqualizationPaymentOfDisposalOfNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations
      contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQyODQ_2fbd4b65-8b90-4c4a-bb43-826e7d9648f2"
      unitRef="gbp">2622000000</tef:ProceedsFromEqualizationPaymentOfDisposalOfNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations>
    <tef:ProceedsFromRecapitalizationOfJointVenture
      contextRef="i56686e126a604cf9b0ade73527c2c79f_D20210601-20210601"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzQ0NTI_8a8a15ad-488a-4bcf-bb1a-9376fb8a3b58"
      unitRef="gbp">2754000000</tef:ProceedsFromRecapitalizationOfJointVenture>
    <tef:DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzExOTg3_40d3c2ac-4ba8-49e7-83cf-6831bf8ca091">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As a consequence of this transaction, the Group   recognized a gain amounting to 4,460 million euros in &#x201c;Other income&#x201d; in 2021 (see Note 26), as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6,234&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Fair value of 50% of VMO2 (Note 10)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;12,012&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Less: carrying amount of Telefonica United Kingdom at June 1, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(10,937)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Liabilities assumed and other costs (see Note 29.c)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(441)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Result before reclassification of translation differences and gains on hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;6,868&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Reclassification of translation differences included in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(3,135)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Reclassification of gains on hedges included in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Result of the transaction: gain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;4,460&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;These transactions generated in 2021 a gain of 6,099 million euros registered in "Other income" (see Note 26), with the following breakdown:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:73.607%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.193%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Selling price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,865&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Less: carrying amount of net assets and transaction costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,729&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Result before reclassification of translation differences &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result of the transaction: gain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,099&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(162)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Result attributable to non-controlling shareholders&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result attributable to equity holders of the parent&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,691&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfGainLossOnSaleOfDisposalGroupTextBlock>
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      unitRef="eur">6099000000</ifrs-full:GainsOnDisposalsOfInvestments>
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      unitRef="brl">5373000000</tef:CashTransferredEstimation>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODAvZnJhZzphY2UwZjIwNmM2ODk0YmU3YTk3NTQwYTAyYmJmNjA2ZC90ZXh0cmVnaW9uOmFjZTBmMjA2YzY4OTRiZTdhOTc1NDBhMDJiYmY2MDZkXzEwOTk1MTE2NTc0MjQ_ca85f751-e85b-4fef-975d-9b955649db7f"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjEz_ded148ba-4691-4878-8eaf-d286ed280871">Accounting policies&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As stated in Note 2, the Group&#x2019;s consolidated financial statements have been prepared in accordance with IFRSs and interpretations issued by the International Accounting Standards Board (IASB).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Accordingly, only the most significant accounting policies used in preparing the accompanying consolidated financial statements, in light of the nature of the Group&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;a) Hyperinflationary economies &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Venezuela has been considered a hyperinflationary economy since 2009. 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, the Group maintains as a policy for the purposes of the consolidated financial statements the estimation of an exchange rate, known as synthetic exchange rate, that matches the progression of inflation and reflects the economic and financial position of the Group&#x2019;s Venezuelan operations in a more accurate way.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The synthetic exchange rate is calculated considering the inflation rates that are published. On an annual basis, these rates are 174.3%, 686.4% and 2,959.8% for 2022, 2021 and 2020, respectively. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The exchange rate used to translate inflation-adjusted bolivar-denominated items in the consolidated financial statements is the synthetic exchange rate as of the closing date of each reporting period, amounting to 45.18 digital bolivars per U.S. dollar, 16.47 digital bolivars per U.S. dollar and 2,094,405 bolivars per U.S. dollar as of December&#160;31, 2022, 2021 and 2020, respectively. In turn, the official reference exchange rate at December 31, 2022 was 17.489 VED/USD (4.597 VED/USD and 1,107,199VES/USD at December 31, 2021 and 2020, respectively). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The use of a synthetic exchange rate versus the official reference exchange rate does not have a significant impact given the contribution of Telef&#xf3;nica Venezolana to the consolidated financial position and to the Group's results and cash flows for the year.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2018 Argentina became a hyperinflationary economy. In order to restate its financial statements, the Company uses the series of indices defined by resolution JG No. 539/18 issued by the Federaci&#xf3;n Argentina de Consejos Profesionales de Ciencias Econ&#xf3;micas (FACPCE), based on the National Consumer Price Index (IPC) published by the Instituto Nacional de Estad&#xed;stica y Censos (INDEC) of the Argentine Republic and the Wholesale Internal Price Index (IPIM) published by FACPCE. The cumulative index at December 31, 2022, 2021 and 2020 is 1,134.6%, 582.5% and 385.9%, respectively, while on an annual basis the index for 2022 is 95%&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(51% and 36% in 2021 and 2020, respectively). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The exchange rate used to translate inflation-adjusted items denominated in Argentine pesos in the 2022 financial statements is the closing exchange rate as of December 31, 2022 which was 189.08 Argentine pesos per euro (116.37 and 103.23 Argentine pesos per euro at December 31, 2021 and 2020, respectively). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;b) Translation methodology &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The income statements and statements of cash flows of the Telef&#xf3;nica Group&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;c) Goodwill &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;d) Intangible assets &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Intangible assets are carried at acquisition or production cost, less any accumulated amortization or any accumulated impairment losses. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Intangible assets are amortized on a straight-line basis according to the following: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-13.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Licenses granted to the Telef&#xf3;nica 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 Telef&#xf3;nica Group (&#x201c;Service concession arrangements and licenses&#x201d;) are amortized on a straight-line basis over the duration of related licenses from the moment commercial operation begins.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;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 4 and 14 years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;Software is amortized on a straight-line basis over its useful life, generally estimated to be between &lt;span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzU1NTk_184e2ba0-1e54-472d-932c-0e02349a8eb6"&gt;two&lt;/span&gt; and five years. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;e) Property, plant and equipment &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Property, plant and equipment is carried at cost less any accumulated depreciation and any accumulated impairment in value. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interest and other financial expenses incurred and directly attributable to the acquisition or construction of qualifying assets are capitalized. Qualifying assets for the Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group&#x2019;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&#x2019; 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: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Years of estimated&lt;br/&gt;useful life&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25  &#x2013; 40&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5 &#x2013;  25&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2  &#x2013;  10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;f) Impairment of non-current assets &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Non-current assets, including goodwill, intangible assets and investments in associates and joint ventures, 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&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;g) Lease agreements &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &#x2013; discounted using the incremental borrowing rate at the start date of the lease.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. Notably, 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).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;h) Investment in associates and joint arrangements &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;contributed and the fair value of the retained investment and the consideration received from disposal is recognized in full in profit or loss. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;i) Financial assets and liabilities &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Financial Assets&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Derivative financial instruments and hedge accounting &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;j) Inventories &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MjU2_3d99399d-20c3-426f-9362-7c17d26654ec"&gt;thirty-six&lt;/span&gt; months. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In-house produced programs and series and program titles are charged at the time of their broadcast or up to &lt;span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2OTkx_b3b45b16-ed34-4c35-bab4-6f8ef5179fda"&gt;thirty-six&lt;/span&gt; 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;k) Pensions and other employee obligations &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;l) Revenues and expenses &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Revenues from calls carried on Telef&#xf3;nica&#x2019;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interconnection revenues from fixed-wireless and wireless-fixed calls and other customer services are recognized in the period in which the calls are made. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;When the Group is in an intermediary position between a supplier/vendor and an end customer, it must determine if it is supplying the product or service as the principal in the transaction or if it is acting as an agent on behalf of the supplier (manufacturer, wholesaler). The distinction determines who controls the goods or services being provided and who has the primary obligation to satisfy the performance obligation. This assessment affects the timing and amount of revenue recognized in the financial statements, either on a gross basis as the principal or on a net basis as the agent, representing the margin earned by the Group for arranging the transaction between the principal and the customer. This is particularly relevant for the Group in connection with digital services such as streaming TV content and cloud-based software.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As part of our strategy, the Group has increased its use of renewable energy through power purchase agreements (PPAs) to purchase energy from sustainable sources, such as wind and solar. These contracts often have a long term and provide the Group with a mechanism to ensure the supply of green energy at fixed prices. When these arrangements involve physical delivery of electricity and are entered into for the purpose of receiving the energy for the entity&#x2019;s expected purchase, sale or usage requirements (i.e. volume agreed does not exceed actual and expected power needs), the contract is for &#x201c;own use&#x201d; and is generally accounted for as power purchases or sales when the underlying transactions take place.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;m) Non-current assets held for sale&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &#x201c;Non-current assets and disposal groups held for sale&#x201d; and &#x201c;Liabilities associated with non-current assets and disposal groups held for sale&#x201d;. Once classified as held for sale property, plant and equipment and intangible assets (including right-of-use assets) are no longer depreciated or amortized. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;n) Use of estimates &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;s results and financial position. Accordingly, sensitivity analysis are disclosed for the most relevant situations (see Notes 7 and 24). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Non-current assets and goodwill &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The accounting treatment of investments in non-current assets such as property, plant and equipment, intangible assets and interests in associates and joint ventures, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Also, 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. The fair value assigned to the retained investment is determined on the basis of its business plan, including significant judgments when considering significant assumptions such as long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate which would be significantly affected by the future trends in the economic, competitive, regulatory and technological environment. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group evaluates its cash-generating units&#x2019; performance on a regular basis to identify potential impairments of goodwill and other non-current assets. Determining the recoverable amount of the cash-generating units also entails the use of assumptions and estimates and requires a significant element of judgment. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Deferred income taxes &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Provisions &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Revenue recognition &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Bundled offers &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Determining standalone selling prices for each identified element requires estimates that are complex due to the nature of the business. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Leases &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The accounting policies applied in the preparation of the consolidated financial statements for the year ended December&#160;31, 2022 are consistent with those used in the preparation of the Group&#x2019;s consolidated annual financial statements for the year ended December&#160;31, 2021, with the exception of the following new standards and amendments to existing standards issued by the IASB, which are mandatory for annual periods beginning on or after January 1, 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The application of these amendments for the current reporting period did not have a significant impact on the consolidated financial statements of the Group. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amendments. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Amendments to IAS 37: Costs of fulfilling a contract &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amendments to IAS 37 clarify that when assessing whether a contract is onerous, an entity needs to include all unavoidable costs that relate directly to a contract, including both incremental costs and an allocation of costs directly related to fulfilling contract activities. The Group applied the amendments to the contracts for which it had not fulfilled all of its obligations at the beginning of the reporting period&lt;/span&gt;&lt;span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Amendments to IFRS 3: Reference to Conceptual Framework&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Minor amendments were made to update the references to the Conceptual Framework for Financial Reporting and to add an exception to the recognition principle in IFRS 3 Business Combinations regarding liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and Interpretation 21 Levies. The exception requires entities to apply the criteria in IAS 37 or IFRIC 21, respectively, instead of the Conceptual Framework, to determine whether a present obligation exists at the acquisition date. The amendments to IFRS 3 also clarify that contingent assets do not qualify for recognition at the acquisition date. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Amendments to IAS 16: Proceeds Before Intended Use&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while the entity is preparing the asset for its intended use (including while assessing technical and physical performance of the asset). Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Annual Improvements to IFRS Standards 2018-2020&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As part of the annual improvements finalized in May 2020, IFRS 9 Financial Instruments was amended to clarify which fees should an entity include when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other&#x2019;s behalf.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:174%"&gt;New standards and amendments to standards issued but not effective as of December&#160;31, 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.057%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.788%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.855%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Standards and amendments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Mandatory application: annual periods beginning on or after&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;IFRS 17 (and subsequent amendments)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Insurance Contracts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Disclosure of Accounting Policies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 8&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Definition of Accounting Estimates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 12&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Deferred Tax related to Assets and Liabilities Arising from a Single Transaction&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1 &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Classification of Liabilities as Current or Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Non-current Liabilities with Covenants&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IFRS 16&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Lease Liability in a Sale and Leaseback&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;Based on the assessment performed to date, the Group estimates that the adoption of these new pronouncements will not have a significant impact on the consolidated financial statements in the initial period of application. In particular, the Group has made further progress in its assessment to identify contracts that meet the definition of insurance contracts and are therefore within the scope of IFRS 17 Insurance Contracts, but the Group estimates that the future application of the new requirements will not have a significant impact on consolidated equity upon first-time adoption.</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
    <ifrs-full:DisclosureOfHyperinflationaryReportingExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjgx_e4f8733a-e51a-4e89-ae6c-6ff7a07ac838">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;a) Hyperinflationary economies &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Venezuela has been considered a hyperinflationary economy since 2009. 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, the Group maintains as a policy for the purposes of the consolidated financial statements the estimation of an exchange rate, known as synthetic exchange rate, that matches the progression of inflation and reflects the economic and financial position of the Group&#x2019;s Venezuelan operations in a more accurate way.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The synthetic exchange rate is calculated considering the inflation rates that are published. On an annual basis, these rates are 174.3%, 686.4% and 2,959.8% for 2022, 2021 and 2020, respectively. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The exchange rate used to translate inflation-adjusted bolivar-denominated items in the consolidated financial statements is the synthetic exchange rate as of the closing date of each reporting period, amounting to 45.18 digital bolivars per U.S. dollar, 16.47 digital bolivars per U.S. dollar and 2,094,405 bolivars per U.S. dollar as of December&#160;31, 2022, 2021 and 2020, respectively. In turn, the official reference exchange rate at December 31, 2022 was 17.489 VED/USD (4.597 VED/USD and 1,107,199VES/USD at December 31, 2021 and 2020, respectively). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The use of a synthetic exchange rate versus the official reference exchange rate does not have a significant impact given the contribution of Telef&#xf3;nica Venezolana to the consolidated financial position and to the Group's results and cash flows for the year.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2018 Argentina became a hyperinflationary economy. In order to restate its financial statements, the Company uses the series of indices defined by resolution JG No. 539/18 issued by the Federaci&#xf3;n Argentina de Consejos Profesionales de Ciencias Econ&#xf3;micas (FACPCE), based on the National Consumer Price Index (IPC) published by the Instituto Nacional de Estad&#xed;stica y Censos (INDEC) of the Argentine Republic and the Wholesale Internal Price Index (IPIM) published by FACPCE. The cumulative index at December 31, 2022, 2021 and 2020 is 1,134.6%, 582.5% and 385.9%, respectively, while on an annual basis the index for 2022 is 95%&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(51% and 36% in 2021 and 2020, respectively). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The exchange rate used to translate inflation-adjusted items denominated in Argentine pesos in the 2022 financial statements is the closing exchange rate as of December 31, 2022 which was 189.08 Argentine pesos per euro (116.37 and 103.23 Argentine pesos per euro at December 31, 2021 and 2020, respectively). &lt;/span&gt;&lt;/div&gt;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.</ifrs-full:DisclosureOfHyperinflationaryReportingExplanatory>
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    <ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjUy_82e98cb0-5608-4bf0-abc4-f705e51406ad">b) Translation methodology The income statements and statements of cash flows of the Telef&#xf3;nica Group&#x2019;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.</ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzU0_68dc443e-3682-439b-bd95-d96e14413653">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;c) Goodwill &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;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.</ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzU2_d80551df-0028-4d32-b155-1d132ec7349e">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;d) Intangible assets &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Intangible assets are carried at acquisition or production cost, less any accumulated amortization or any accumulated impairment losses. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Intangible assets are amortized on a straight-line basis according to the following: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-13.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Licenses granted to the Telef&#xf3;nica 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 Telef&#xf3;nica Group (&#x201c;Service concession arrangements and licenses&#x201d;) are amortized on a straight-line basis over the duration of related licenses from the moment commercial operation begins.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;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 4 and 14 years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). &lt;/span&gt;&lt;/div&gt;&#x2022;Software is amortized on a straight-line basis over its useful life, generally estimated to be between &lt;span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzU1NTk_184e2ba0-1e54-472d-932c-0e02349a8eb6"&gt;two&lt;/span&gt; and five years.</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory>
    <tef:UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod
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      contextRef="ieb1e8a74492e4c33b27a7cc4479486cb_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzUzMzU_913de852-ae6b-43ce-a78a-a19f7833eade">P14Y</tef:UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod>
    <tef:UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod
      contextRef="i5fd0b5e57d65468881afe697f78cb6e3_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzU1NjY_df53ef94-a3b3-445c-bd2d-50ab8c8cbd9b">P5Y</tef:UsefulLivesOrAmortisationRatesIntangibleAssetsOtherThanGoodwillPeriod>
    <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjIy_6354978d-a597-4493-89e7-320152bce2b3">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;e) Property, plant and equipment &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Property, plant and equipment is carried at cost less any accumulated depreciation and any accumulated impairment in value. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interest and other financial expenses incurred and directly attributable to the acquisition or construction of qualifying assets are capitalized. Qualifying assets for the Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group&#x2019;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&#x2019; 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: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Years of estimated&lt;br/&gt;useful life&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25  &#x2013; 40&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5 &#x2013;  25&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2  &#x2013;  10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
    <tef:PeriodToQualifyAssetsToConditionNecessaryForIntendedUseOrSale
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    <ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzM3_c23649cb-7a99-4d49-82b0-224d5bca2ee7">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group&#x2019;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&#x2019; 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: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Years of estimated&lt;br/&gt;useful life&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25  &#x2013; 40&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5 &#x2013;  25&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2  &#x2013;  10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition and movements in 2022 and 2021 of the items comprising net "Property, plant and equipment" were as follows:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.250%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.823%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation&lt;br/&gt;differences and&lt;br/&gt;hyperinflation&lt;br/&gt;adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combina-tions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(216)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,641&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,707)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(43)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,908&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;933&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;552&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(210)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;576&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,761&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,867&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,353)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,332&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,289&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,133)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(209)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,127&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;37&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23,714&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.771%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.186%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.303%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.116%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Depre-ciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impair-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation&lt;br/&gt;differences and&lt;br/&gt;hyperinflation&lt;br/&gt;adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combi-nations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(241)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(85)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,676&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,893)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,780&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(297)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;623&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;552&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,641&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,519&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,393)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,761&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23,769&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,880&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,360)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(416)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;291&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(383)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Total additions of property, plant and equipment in 2021 amounted to 4,286 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December&#160;31, 2022 and 2021 were as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.876%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.909%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,097&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,375)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(81)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,641&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91,319&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(72,742)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(412)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,157&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,566)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;576&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,343&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,332&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;107,916&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(83,683)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(519)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23,714&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.876%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.909%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,624&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,905)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86,779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(68,713)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(314)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,697&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,133)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;552&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,774&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,761&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101,874&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(78,751)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(398)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory>
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    <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzk5_541b70d8-d7b6-4ab7-a1c0-a5a762c9a799">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;f) Impairment of non-current assets &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Non-current assets, including goodwill, intangible assets and investments in associates and joint ventures, 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&#x2019;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. &lt;/span&gt;&lt;/div&gt;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</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory>
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    <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzU4_903c26c6-2ba1-4410-990c-0fc5a8c83544">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;g) Lease agreements &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &#x2013; discounted using the incremental borrowing rate at the start date of the lease.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. Notably, 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).&lt;/span&gt;&lt;/div&gt;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.</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzcy_fe624ef9-808d-442e-848d-a557893911ff">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;h) Investment in associates and joint arrangements &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;contributed and the fair value of the retained investment and the consideration received from disposal is recognized in full in profit or loss.</ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzkx_161196c4-4263-4f7e-a734-f6df7235ffc6">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Financial Assets&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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).  &lt;/span&gt;&lt;/div&gt;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.</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzEx_207e2664-65cc-4558-ac64-013bd97f4f82">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Derivative financial instruments and hedge accounting &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;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.</ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjY5_78ff60b3-b376-4b7f-acba-b8aa966c7148">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;j) Inventories &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MjU2_3d99399d-20c3-426f-9362-7c17d26654ec"&gt;thirty-six&lt;/span&gt; months. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;In-house produced programs and series and program titles are charged at the time of their broadcast or up to &lt;span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2OTkx_b3b45b16-ed34-4c35-bab4-6f8ef5179fda"&gt;thirty-six&lt;/span&gt; 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.</ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories>
    <tef:InventoriesAudioVisualRightsConsumptionPeriod
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzE2MTI5_a38da1ed-3a12-4703-b5b3-9e13d1b1d837">P12M</tef:InventoriesAudioVisualRightsConsumptionPeriod>
    <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjU5_1e536f8a-06b0-44d7-9d26-5858d3620a21">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;k) Pensions and other employee obligations &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;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.</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzA4_baf485a7-5e64-4612-9bbb-bad4a2708b15">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;l) Revenues and expenses &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Revenues from calls carried on Telef&#xf3;nica&#x2019;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interconnection revenues from fixed-wireless and wireless-fixed calls and other customer services are recognized in the period in which the calls are made. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;When the Group is in an intermediary position between a supplier/vendor and an end customer, it must determine if it is supplying the product or service as the principal in the transaction or if it is acting as an agent on behalf of the supplier (manufacturer, wholesaler). The distinction determines who controls the goods or services being provided and who has the primary obligation to satisfy the performance obligation. This assessment affects the timing and amount of revenue recognized in the financial statements, either on a gross basis as the principal or on a net basis as the agent, representing the margin earned by the Group for arranging the transaction between the principal and the customer. This is particularly relevant for the Group in connection with digital services such as streaming TV content and cloud-based software.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As part of our strategy, the Group has increased its use of renewable energy through power purchase agreements (PPAs) to purchase energy from sustainable sources, such as wind and solar. These contracts often have a long term and provide the Group with a mechanism to ensure the supply of green energy at fixed prices. When these arrangements involve physical delivery of electricity and are entered into for the purpose of receiving the energy for the entity&#x2019;s expected purchase, sale or usage requirements (i.e. volume agreed does not exceed actual and expected power needs), the contract is for &#x201c;own use&#x201d; and is generally accounted for as power purchases or sales when the underlying transactions take place.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory>
    <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyODM2_b49bee8a-5bba-4482-8930-024fcf4a50c1">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;l) Revenues and expenses &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Revenues from calls carried on Telef&#xf3;nica&#x2019;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interconnection revenues from fixed-wireless and wireless-fixed calls and other customer services are recognized in the period in which the calls are made. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;When the Group is in an intermediary position between a supplier/vendor and an end customer, it must determine if it is supplying the product or service as the principal in the transaction or if it is acting as an agent on behalf of the supplier (manufacturer, wholesaler). The distinction determines who controls the goods or services being provided and who has the primary obligation to satisfy the performance obligation. This assessment affects the timing and amount of revenue recognized in the financial statements, either on a gross basis as the principal or on a net basis as the agent, representing the margin earned by the Group for arranging the transaction between the principal and the customer. This is particularly relevant for the Group in connection with digital services such as streaming TV content and cloud-based software.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As part of our strategy, the Group has increased its use of renewable energy through power purchase agreements (PPAs) to purchase energy from sustainable sources, such as wind and solar. These contracts often have a long term and provide the Group with a mechanism to ensure the supply of green energy at fixed prices. When these arrangements involve physical delivery of electricity and are entered into for the purpose of receiving the energy for the entity&#x2019;s expected purchase, sale or usage requirements (i.e. volume agreed does not exceed actual and expected power needs), the contract is for &#x201c;own use&#x201d; and is generally accounted for as power purchases or sales when the underlying transactions take place.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
    <ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyODE5_d81531c5-702c-4a23-8f8c-ae10e6c3c2b9">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;m) Non-current assets held for sale&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &#x201c;Non-current assets and disposal groups held for sale&#x201d; and &#x201c;Liabilities associated with non-current assets and disposal groups held for sale&#x201d;. Once classified as held for sale property, plant and equipment and intangible assets (including right-of-use assets) are no longer depreciated or amortized. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory>
    <tef:UseOfEstimatesPolicyTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNjkz_b907205a-d347-4672-8294-3d2257281ab0">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;n) Use of estimates &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;s results and financial position. Accordingly, sensitivity analysis are disclosed for the most relevant situations (see Notes 7 and 24). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Non-current assets and goodwill &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The accounting treatment of investments in non-current assets such as property, plant and equipment, intangible assets and interests in associates and joint ventures, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Also, 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. The fair value assigned to the retained investment is determined on the basis of its business plan, including significant judgments when considering significant assumptions such as long-term OIBDA margin, long-term capital expenditure ratio, discount rate and perpetuity growth rate which would be significantly affected by the future trends in the economic, competitive, regulatory and technological environment. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group evaluates its cash-generating units&#x2019; performance on a regular basis to identify potential impairments of goodwill and other non-current assets. Determining the recoverable amount of the cash-generating units also entails the use of assumptions and estimates and requires a significant element of judgment. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Deferred income taxes &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Provisions &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Revenue recognition &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Bundled offers &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Determining standalone selling prices for each identified element requires estimates that are complex due to the nature of the business. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Leases &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;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.</tef:UseOfEstimatesPolicyTextBlock>
    <ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzUy_326d5be0-4686-442a-a317-47fefe8a8e24">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;o) New IFRS and interpretations of the International Financial Reporting Interpretations Committee (IFRIC) &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The accounting policies applied in the preparation of the consolidated financial statements for the year ended December&#160;31, 2022 are consistent with those used in the preparation of the Group&#x2019;s consolidated annual financial statements for the year ended December&#160;31, 2021, with the exception of the following new standards and amendments to existing standards issued by the IASB, which are mandatory for annual periods beginning on or after January 1, 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The application of these amendments for the current reporting period did not have a significant impact on the consolidated financial statements of the Group. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amendments. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Amendments to IAS 37: Costs of fulfilling a contract &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amendments to IAS 37 clarify that when assessing whether a contract is onerous, an entity needs to include all unavoidable costs that relate directly to a contract, including both incremental costs and an allocation of costs directly related to fulfilling contract activities. The Group applied the amendments to the contracts for which it had not fulfilled all of its obligations at the beginning of the reporting period&lt;/span&gt;&lt;span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Amendments to IFRS 3: Reference to Conceptual Framework&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Minor amendments were made to update the references to the Conceptual Framework for Financial Reporting and to add an exception to the recognition principle in IFRS 3 Business Combinations regarding liabilities and contingent liabilities within the scope of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and Interpretation 21 Levies. The exception requires entities to apply the criteria in IAS 37 or IFRIC 21, respectively, instead of the Conceptual Framework, to determine whether a present obligation exists at the acquisition date. The amendments to IFRS 3 also clarify that contingent assets do not qualify for recognition at the acquisition date. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Amendments to IAS 16: Proceeds Before Intended Use&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while the entity is preparing the asset for its intended use (including while assessing technical and physical performance of the asset). Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Annual Improvements to IFRS Standards 2018-2020&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As part of the annual improvements finalized in May 2020, IFRS 9 Financial Instruments was amended to clarify which fees should an entity include when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other&#x2019;s behalf.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:174%"&gt;New standards and amendments to standards issued but not effective as of December&#160;31, 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.057%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.788%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.855%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Standards and amendments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Mandatory application: annual periods beginning on or after&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;IFRS 17 (and subsequent amendments)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Insurance Contracts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Disclosure of Accounting Policies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 8&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Definition of Accounting Estimates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 12&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Deferred Tax related to Assets and Liabilities Arising from a Single Transaction&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1 &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Classification of Liabilities as Current or Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Non-current Liabilities with Covenants&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IFRS 16&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Lease Liability in a Sale and Leaseback&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;Based on the assessment performed to date, the Group estimates that the adoption of these new pronouncements will not have a significant impact on the consolidated financial statements in the initial period of application. In particular, the Group has made further progress in its assessment to identify contracts that meet the definition of insurance contracts and are therefore within the scope of IFRS 17 Insurance Contracts, but the Group estimates that the future application of the new requirements will not have a significant impact on consolidated equity upon first-time adoption.</ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations>
    <ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODMvZnJhZzpjZTUxYjhjMjM5ZjA0Y2VkYjg4NGMxY2I0ZjYwZjk0MS90ZXh0cmVnaW9uOmNlNTFiOGMyMzlmMDRjZWRiODg0YzFjYjRmNjBmOTQxXzMyNzMz_df8412dd-3db5-4c91-a7e2-3c0c5a60b3cd">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.057%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.788%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.855%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Standards and amendments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Mandatory application: annual periods beginning on or after&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;IFRS 17 (and subsequent amendments)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Insurance Contracts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Disclosure of Accounting Policies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 8&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Definition of Accounting Estimates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 12&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Deferred Tax related to Assets and Liabilities Arising from a Single Transaction&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1 &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Classification of Liabilities as Current or Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IAS 1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Non-current Liabilities with Covenants&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Amendments to IFRS 16&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%"&gt;Lease Liability in a Sale and Leaseback&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;January 1, 2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations>
    <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYyNjg_54803c7a-8842-4563-9a05-7155585954e5">Segment information&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022 the Telef&#xf3;nica Group is reporting financial information, both internally and externally, according to the following segments: Telef&#xf3;nica Spain, VMO2 (recorded by the equity method), Telef&#xf3;nica Germany, Telef&#xf3;nica Brazil and Telef&#xf3;nica Hispam (formed by the Group's operators in Colombia, Mexico, Venezuela, Ecuador, Argentina, Chile, Peru and Uruguay).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;During 2021, compared to 2020, the Telef&#xf3;nica Group changed its reporting segments as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(i) On June 1, 2021, upon the establishment of the VMO2 joint venture (whose results are accounted for under the equity method), the former Telef&#xf3;nica United Kingdom segment was replaced by the new VMO2 segment (see notes 2 and 10). The 2021 results include the consolidation of Telef&#xf3;nica United Kingdom from January 1 to June 1, and the equity accounting of 50% of the net result of VMO2 from June 1 to December 31 (see Note 10). The gain registered on the establishment of VMO2, amounting to 4,460 million euros (see notes 2 and 26), are recorded in "Other companies".&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(ii) The Telxius Group ceased to be a reporting segment as a result of the sale of the telecommunications towers divisions in Europe and Latin America (see Note 2). The Telxius Group&#x2019;s results as well as the gain obtained for the sale of the telecommunications towers divisions, amounting to 6,099 million euros (see notes 2 and 26), were recorded in "Other companies".&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The impairment losses on goodwill and other assets of Telef&#xf3;nica Argentina recorded in 2020, the impairment loss on goodwill of Telef&#xf3;nica del Per&#xfa; in 2021 (see Note 7) and the impairment losses on other assets of Telefonica Argentina in 2022 (see notes 6 and 8), are included in the Telef&#xf3;nica Hispam segment.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The segments referred to above include the information relating to the fixed, mobile, cable, data, internet, television and other digital services businesses provided in each country. Intersegment transactions are carried out as if on an arm's length basis.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Information relating to other Group companies not specifically included in these segments is reported under "Other companies" (see Appendix I), which includes Telef&#xf3;nica, 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 Incremental Group and BE-terna Group, acquired in 2022, and Cancom Group, acquired in 2021 (see Note 5), are reported within "Other companies". "Other companies" also includes the share of results of investments accounted for by the equity method corresponding to the fiber optic companies incorporated in 2021 and 2022 (see Note 10). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group centrally manages borrowing activities, mainly through Telef&#xf3;nica, 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, Telef&#xf3;nica, S.A. is the head of the Telef&#xf3;nica 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 through operating income.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The "Eliminations" of the Group at OIBDA level mainly reflected the leases of Telxius Group (in 2020 and 2021, up to the date of sale of these companies) to other Telef&#xf3;nica Group companies, due to the asymmetry in accounting between lessor and lessee under IFRS 16. This impact is mostly offset at operating income level. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica 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&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 (see Note 9) regarding the Group&#x2019;s operating segments: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.262%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.238%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2 &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,870&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,243&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,982)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,993&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;External revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,854&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,026&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,685&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,993&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intersegment revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,991)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,909)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,666)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,138)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,183)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,149)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,904&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27,141)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,588&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,558&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,732&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,958&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;94&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(78)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,852&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,157)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,295)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,369)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,799)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(218)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,796)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,431&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;263&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,363&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(124)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,056&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;217&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CapEx&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,795&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,058&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;212&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,819&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;724&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;594&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;596&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;514&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,448&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses includes &#x201c;Other income&#x201d;, &#x201c;Supplies&#x201d;, &#x201c;Personnel expenses&#x201d; and &#x201c;Other expenses&#x201d;.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.794%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.531%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,417&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,765&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,910&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,362&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,059&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,864)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;External revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,156&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,609&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,738&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,897&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intersegment revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,431&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,855)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9,040)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,709)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,341)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,772)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,644)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,589&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,623&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(17,294)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,377&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;919&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,424&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,718&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,648&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(241)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,983&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,153)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,394)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,918)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,873)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(356)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,397)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,224&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;919&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;30&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,220&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(155)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;56&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,586&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of (loss) income of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CapEx&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,815&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;933&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,284&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,069&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;978&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;206&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,267&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;482&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;389&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;833&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;489&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;387&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;113&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(254)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,439&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Other operating income and expenses includes &#x201c;Other income&#x201d;, &#x201c;Supplies&#x201d;, &#x201c;Personnel expenses&#x201d; and &#x201c;Other expenses&#x201d;.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Additionally, rights of use in the amount of 2,633 million euros were recorded in 2021 following the sale of the tower division of Telxius (see Note 9).&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.545%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.501%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.387%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.947%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,401&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,708&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,422&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,922&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,647&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,556)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43,076&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;External revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,118&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,666&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,406&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,786&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43,076&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intersegment revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;283&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,037&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,546)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,644)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,223)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,234)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,932)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,288)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29,578)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,046&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,064&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,309&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,188&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;990&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(458)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,498&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,184)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(389)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,394)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,965)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,274)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(468)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;315&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9,359)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,862&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,675&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(85)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,284)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(109)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(143)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,139&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CapEx&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,408&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;913&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,094&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,372&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;833&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;454&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;116&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;768&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;364&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;378&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(909)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,014&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses includes &#x201c;Other income&#x201d;, &#x201c;Supplies&#x201d;, &#x201c;Personnel expenses&#x201d; and &#x201c;Other expenses&#x201d;.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below shows the income, CapEx and acquisitions of rights of use of VMED O2 UK (VMO2) in 2022 and 2021 (see Note 2). VMO2 is a joint venture 50% owned by Telef&#xf3;nica and Liberty Global and is recorded under the equity method (see Note 10). The tables below show the information of the joint venture at 100% and the reconciliation with the Telef&#xf3;nica Group's share of income (loss) accounted for by the equity method. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:49.777%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.901%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;January-December, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;June 1 to December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,155&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,754)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,773)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,450&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,395)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;231&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;55&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(504)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Realised and unrealised gains on derivative instruments, net &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,567&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;489&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Foreign currency transaction losses, net&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net financial expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result before taxation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;507&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(300)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result for the period (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;492&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(235)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50% attributable to Telef&#xf3;nica Group&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;246&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Share-based compensation &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital expenditures (CapEx)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,707&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,508&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;118&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;75&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following table presents main assets and liabilities by segment: &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.701%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2 &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14,285&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,870&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,237&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54,202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,722&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,048&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,169&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments accounted for by the equity method &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;252&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;146&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;410&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,587&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-currents assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;992&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;984&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,578&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,082&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,410)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,395&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;463&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;485&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;612&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;929&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;222&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,435&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,441)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27,917&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,779&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19,142&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,875&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,951&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26,288&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15,310)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;109,642&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,510&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;653&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,502&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,425&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,120)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,059&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,317&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,663&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,531&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,657&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;274&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,032&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;744&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;922&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,840&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,449&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10,867)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,020&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;392&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;597&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;629&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;402&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,020&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities associated with non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,782&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,246&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;42,869&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15,261)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;77,934&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.239%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14,499&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,056&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,637&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,667&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50,969&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,433&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,349&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,701&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,064&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(67)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,579&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments accounted for by the equity method &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;253&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,773&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-currents assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;883&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;888&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,001&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,428&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,402)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,347&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;433&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;454&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;713&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,671&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,616&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;838&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,379&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;102&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;256&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;358&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,971&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,129&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19,953&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,461&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29,544&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(14,473)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;109,213&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,627&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,778&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,554)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,290&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,082&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,781&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,317&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,192&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,391&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,040&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;594&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,019&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,620&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,669&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,591)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,005&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;378&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;548&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;295&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,679&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities associated with non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17,042&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,819&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,600&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;14,306&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;45,129&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(14,367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80,529&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of assets and liabilities of VMO2 is as follows (amounts corresponding to 100% of the company, see Note 10):&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.867%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.301%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.532%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42,576&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;46,258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;862&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,058&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-currents assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,763&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,348&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;511&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;50,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;52,333&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,185&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;725&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,248&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;221&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;219&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28,626&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28,198&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of segment revenues is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.439%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.351%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.257%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.084%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.504%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Country by segments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Mobile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Others and elims.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Mobile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Others and elims.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Mobile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Others and elims.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Spain &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,497&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,417&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;United Kingdom &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;232&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,708&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;806&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,394&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,224&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;814&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,942&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,765&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;785&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,730&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,532&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,764&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,870&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,910&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,531&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,422&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,003&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,907&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,362&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,836&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,070&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,922&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Other and inter-segment eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,261&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,091&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,091&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,993&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43,076&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Note: In the countries of Telef&#xf3;nica Hispam segment with separate fixed and mobile operating companies, intercompany revenues were not considered. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;The detail of revenues for Telef&#xf3;nica Spain is shown in the table below. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Given the convergence reached at Telef&#xf3;nica Spain due to the high penetration of convergent offers in Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retailers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,662&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,699&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,906&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wholesalers, mobile handsets sales and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,718&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,497&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,417&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
    <ifrs-full:ProportionOfOwnershipInterestInJointVenture
      contextRef="icf7d74c557d0405db364607b3c623b2b_D20210601-20211231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzQ3NQ_9f568ff3-6b00-4697-bca6-94c9a08a575e"
      unitRef="number">0.50</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
    <ifrs-full:GainsOnDisposalsOfInvestments
      contextRef="i6c0bbbce8ec643acac4edfbbbc3f40e1_D20210601-20210601"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYxNw_5407cf21-0cc2-41f1-b6a9-6bbdf3188062"
      unitRef="eur">4460000000</ifrs-full:GainsOnDisposalsOfInvestments>
    <ifrs-full:GainsOnDisposalsOfInvestments
      contextRef="if4dda18296f94812bea8f3e448b5f6e0_D20210601-20210802"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzEzMTU_e278130d-c0d2-447e-bf27-141a2111a448"
      unitRef="eur">6099000000</ifrs-full:GainsOnDisposalsOfInvestments>
    <ifrs-full:DisclosureOfOperatingSegmentsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYyNTQ_938600ce-0811-4f0a-ac98-331fd7c5ce93">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 (see Note 9) regarding the Group&#x2019;s operating segments: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.262%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.238%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2 &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,870&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,243&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,982)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,993&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;External revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,854&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,026&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,685&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,993&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intersegment revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,991)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,909)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,666)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,138)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,183)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,149)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,904&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27,141)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,588&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,558&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,732&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,958&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;94&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(78)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,852&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,157)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,295)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,369)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,799)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(218)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,796)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,431&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;263&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,363&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(124)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,056&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;217&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CapEx&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,795&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,058&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;212&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,819&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;724&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;594&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;596&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;514&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,448&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses includes &#x201c;Other income&#x201d;, &#x201c;Supplies&#x201d;, &#x201c;Personnel expenses&#x201d; and &#x201c;Other expenses&#x201d;.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.794%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.531%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,417&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,765&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,910&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,362&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,059&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,864)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;External revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,156&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,609&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,738&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,897&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intersegment revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,431&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,855)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9,040)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,709)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,341)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,772)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,644)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,589&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,623&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(17,294)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,377&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;919&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,424&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,718&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,648&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(241)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,983&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,153)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,394)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,918)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,873)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(356)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,397)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,224&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;919&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;30&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,220&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(155)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;56&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,586&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of (loss) income of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CapEx&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,815&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;933&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,284&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,069&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;978&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;206&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,267&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;482&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;389&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;833&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;489&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;387&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;113&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(254)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,439&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Other operating income and expenses includes &#x201c;Other income&#x201d;, &#x201c;Supplies&#x201d;, &#x201c;Personnel expenses&#x201d; and &#x201c;Other expenses&#x201d;.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Additionally, rights of use in the amount of 2,633 million euros were recorded in 2021 following the sale of the tower division of Telxius (see Note 9).&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.976%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.545%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.501%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.387%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.947%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,401&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,708&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,422&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,922&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,647&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,556)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43,076&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;External revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,118&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,666&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,406&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,786&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43,076&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-indent:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intersegment revenues&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;283&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,037&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,546)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,644)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,223)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,234)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,932)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,288)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29,578)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,046&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,064&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,309&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,188&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;990&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(458)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,498&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,184)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(389)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,394)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,965)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,274)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(468)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;315&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9,359)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,862&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,675&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(85)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,284)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(109)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(143)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,139&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CapEx&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,408&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;913&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,094&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,372&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;833&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;454&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;116&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;768&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;364&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;378&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(909)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,014&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses includes &#x201c;Other income&#x201d;, &#x201c;Supplies&#x201d;, &#x201c;Personnel expenses&#x201d; and &#x201c;Other expenses&#x201d;.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below shows the income, CapEx and acquisitions of rights of use of VMED O2 UK (VMO2) in 2022 and 2021 (see Note 2). VMO2 is a joint venture 50% owned by Telef&#xf3;nica and Liberty Global and is recorded under the equity method (see Note 10). The tables below show the information of the joint venture at 100% and the reconciliation with the Telef&#xf3;nica Group's share of income (loss) accounted for by the equity method. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:49.777%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.901%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;January-December, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;June 1 to December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,155&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income and expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,754)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,773)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,450&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,395)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;231&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;55&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(504)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Realised and unrealised gains on derivative instruments, net &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,567&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;489&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Foreign currency transaction losses, net&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net financial expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result before taxation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;507&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(300)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result for the period (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;492&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(235)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50% attributable to Telef&#xf3;nica Group&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;246&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Share-based compensation &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital expenditures (CapEx)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,707&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,508&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of rights of use&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;118&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;75&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following table presents main assets and liabilities by segment: &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.701%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.944%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2 &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14,285&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,870&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,237&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54,202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,722&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,048&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,169&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments accounted for by the equity method &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;252&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;146&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;410&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,587&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-currents assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;992&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;984&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,578&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,082&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,410)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,395&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;463&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;485&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;612&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;929&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;222&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,435&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,441)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27,917&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,779&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19,142&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,875&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,951&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26,288&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15,310)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;109,642&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,510&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;653&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,502&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,425&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,120)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,059&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,317&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,663&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,531&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,657&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;274&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,032&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;744&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;922&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,840&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,449&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10,867)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,020&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;392&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;597&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;629&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;402&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,020&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities associated with non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,782&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,246&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;42,869&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15,261)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;77,934&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.239%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica&lt;br/&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14,499&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,056&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,637&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,667&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50,969&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,433&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,349&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,701&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,064&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(67)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,579&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments accounted for by the equity method &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;253&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,773&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-currents assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;883&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;888&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,001&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,428&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,402)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,347&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;433&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;454&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;713&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,671&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,616&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;838&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,379&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;102&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;256&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;358&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,971&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,129&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19,953&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,461&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29,544&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(14,473)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;109,213&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,627&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,778&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,554)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,290&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,082&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,781&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,317&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,192&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,391&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,040&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;594&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,019&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,620&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,669&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,591)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,005&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;378&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;548&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;295&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,679&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities associated with non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17,042&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,819&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,600&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;14,306&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;45,129&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(14,367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80,529&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of assets and liabilities of VMO2 is as follows (amounts corresponding to 100% of the company, see Note 10):&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.867%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.301%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.532%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;VMO2&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42,576&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;46,258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;862&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,058&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-currents assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,763&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,348&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;511&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,248&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span 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    <ifrs-full:DisclosureOfGeographicalAreasExplanatory
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODYvZnJhZzowYWEwNWI1NmI4ZDQ0ZThjYmUwYzljYmU1MzQ3MjYyZS90ZXh0cmVnaW9uOjBhYTA1YjU2YjhkNDRlOGNiZTBjOWNiZTUzNDcyNjJlXzYyNjU_17cd1be4-b4aa-4bec-87bc-cd824ea9911b">&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of segment revenues is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.439%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.351%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.257%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.084%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.504%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Country by segments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Mobile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Others and elims.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Mobile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Others and elims.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Mobile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Others and elims.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Spain &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,497&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,417&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;United Kingdom &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;232&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,708&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;806&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,394&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,224&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;814&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,942&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,765&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;785&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,730&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,532&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,764&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,870&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,910&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,531&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,422&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,003&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,907&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,362&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,836&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,070&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,922&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Other and inter-segment eliminations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,261&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,091&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,091&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,993&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43,076&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Note: In the countries of Telef&#xf3;nica Hispam segment with separate fixed and mobile operating companies, intercompany revenues were not considered. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;The detail of revenues for Telef&#xf3;nica Spain is shown in the table below. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Given the convergence reached at Telef&#xf3;nica Spain due to the high penetration of convergent offers in Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retailers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,662&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,699&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,906&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wholesalers, mobile handsets sales and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,718&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,497&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,417&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #86888c;border-top:0.5pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td 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    <ifrs-full:DisclosureOfBusinessCombinationsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzg0NjY_6a947e7f-cd9f-4aaf-9631-b40a212ff631">Business combinations&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:120%"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Acquisition of mobile assets of Oi Group&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 20, 2022, the closing of the transaction related to the Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group took place, and Telef&#xf3;nica Brasil acquired, on such date, all the shares of the company Garliava RJ Infraestrutura e Redes de Telecomunica&#xe7;&#xf5;es S.A. (Garliava), to which the mobile assets of Oi Group assigned to Telef&#xf3;nica Brasil had been contributed, under the segregation plan stated in the Oi Agreement (see Note 29).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The mobile assets of Oi Group finally assigned to Telef&#xf3;nica Brasil were the following:&lt;/span&gt;&lt;/div&gt;&lt;div style="padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;Customers: approximately 12.5 million (equivalent to 30% of the total customer base of the mobile assets of Oi Group) &#x2013; according to ANATEL&#x2019;s February 2022 data;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;Spectrum: 43 MHz as national population-weighted average (46% of the radiofrequency of the mobile assets of Oi Group); and&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;Infrastructure: contracts for the use of approximately 2.7 thousand sites of mobile access (corresponding to 19% of the sites of the mobile assets of Oi Group).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;This transaction brings benefits to the Brazilian telecommunications sector, expanding the capacity to make investments and create technological innovations in a sustainable and rational manner, contributing to the digitalization of the country through the construction and expansion of networks in cutting-edge technologies, such as 5G and fiber, which translates into services with better coverage and quality to users. In addition, the transaction has the potential to generate synergies for the Company, through the optimization of operating costs and efficient allocation of investments due to the integration of the incorporated assets. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;On the date of approval of these consolidated financial statements, the Company has already concluded the report for the allocation of the purchase price. The following table presents the consideration, the fair value of the identifiable assets and the liabilities assumed at the acquisition date and the goodwill:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Consideration&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;1,093&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;539&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(221)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(55)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;417&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;676&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The fair value of the licenses has been determined using the discounted cash flow method of the Income Approach, which considers the earning capacity of the asset. The amortization period of the licenses ranges from 5 to 15 years (average period of 10.08 years). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The fair value of trade receivables amounts to 74 million euros, which does not differ from the book value consisting of a gross amount of 81 million euros, net of estimated impairment losses of 7 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the acquisition date, contingent liabilities have been recognized at fair value in the amount of 90 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The contribution of Garliava since its inclusion in the scope of consolidation and until December 31, 2022 was 206 million euros in revenues and 1 million euros in profit for the period. The information is only available since the mobile assets of Oi assigned to Telef&#xf3;nica Brasil were contributed to Garliava. Consequently, it is not practicable to calculate these impacts as if the transaction had taken place on January 1, 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On September 17, 2022, Telef&#xf3;nica Brasil, together with Claro S.A. and TIM S.A. ("Buyers"), notified Oi, pursuant to the Agreement, about (i) the determination of the post-closing price adjustment in benefit of the Buyers; and (ii) the losses known to date (as defined in the Agreement) in relation to which the Buyers have indemnification rights against the Seller in the total amount of 353 million Brazilian reais, of which 64 million Brazilian reais (approximately 12 million euros) are attributable to Telef&#xf3;nica Brasil. The post-closing adjustment notice presents values and calculations determined with the support of a specialized company, based on the best analysis of the information received and understanding of the Agreement, totaling the maximum amount of 3,187 million Brazilian reais for the price adjustment on behalf of the Buyers. From the price adjustment amount calculated, the amount attributable to Telef&#xf3;nica Brasil is equivalent to up to 1,075 million Brazilian reais (approximately 204 million euros), part of which (488 million Brazilian reais, approximately 93 million euros) is guaranteed by the retention of 10% on the amount paid for the acquisition (see Note 2). On October 3, 2022, Telef&#xf3;nica Brasil, together with Claro S.A. and TIM S.A., started the arbitration procedure against the Seller (see Note 29.c). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Buyers made a judicial deposit of the amount withheld from the updated purchase price (see Note 15), until the dispute arising from the price adjustment is resolved by arbitration, corresponding to Telef&#xf3;nica Brazil an amount of 522 million reais at December 31, 2022 (approximately 94 million euros).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Acquisition of Incremental&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On March 21, 2022, Telef&#xf3;nica Telef&#xf3;nica Tech UK &amp;amp; Ireland, Ltd completed the acquisition of 100% of the shares of the British group Perpetual TopCo, Limited and affiliates (Incremental), one of Microsoft's fastest-growing business partners in the UK, for a 104 million euros consideration (including potential contingent payments linked to its future performance). In addition, at the closing of the transaction a payment was made in the amount of 91 million euros to cancel payment obligations of the acquired companies. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;With this acquisition, the Group significantly increased its scale and competencies in Microsoft technologies.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the date of preparation of these consolidated financial statements, the purchase price allocation is provisional. The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Share purchase price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payment obligations cancelled&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Accounts receivable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Accounts payable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Preliminary goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;170&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The contribution of Incremental to the profit for the year, after the impact of the amortization of the assets identified in the purchase price allocation, has been a 1 million euro profit.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Acquisition of BE-terna&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 9, 2022, Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech, S.L.U. completed the acquisition of 100% of the shares of the German group BE-terna Acceleration Holding GmbH and affiliates ("BE-terna Group"), for a 191 million euros consideration (including potential contingent payments linked to its future performance). In addition, at the closing of the transaction a payment was made in the amount of 162 million euros to cancel payment obligations of the acquired companies. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;BE-terna Group has a highly qualified team of more than 1,000 employees in 28 locations in Germany, Austria, Switzerland, the Adriatic region and the Nordic countries, among other markets. With this acquisition, the Group significantly enriches its geographic scale and its professional and managed services capabilities across Europe.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the date of preparation of these consolidated financial statements, the purchase price allocation is provisional. The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Share purchase price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;191&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payment obligations cancelled&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;353&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Right of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Accounts receivable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Current tax payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;74&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Preliminary goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;279&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The contribution of BE-terna Group to the profit for the year, after the impact of the amortization of the assets identified in the purchase price allocation, has been a 3 million euros loss.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:120%"&gt;2021&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Acquisition of Cancom&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On July 29, 2021, Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech, S.L.U. reached an agreement with Cancom Group for the acquisition of 100% of the shares of the British company Cancom Ltd.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Cancom Ltd (currently called Telef&#xf3;nica Tech UK &amp;amp; Ireland Ltd.) is a company that provides end-to-end advanced cloud and cybersecurity services in the United Kingdom and Ireland.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following table presents the transaction, fair value of assets and liabilities identified at the acquisition moment, and the goodwill generated:&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Enterprise value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;398&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Adjustments of debt and cash&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Consideration (share purchase price)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;271&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(140)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;284&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, at the closing of the transaction a payment was made in the amount of 122 million euros to cancel accounts payable of the acquired companies to Cancom Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Customer relationships were valued using the MEEM (&#x201c;Multiple Excess Earnings Method&#x201d;), which is based on calculating the discounted cash flows reflecting the economic benefits attributable to the customer base after consideration of all value contributions of other assets.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The contribution of Cancom Ltd to the profit for the year 2021, after the impact of the amortization of the assets identified in the purchase price allocation, was a 4 million euros loss.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfBusinessCombinationsExplanatory>
    <tef:NumberOfClientsRecognisedAsOfAcquisitionDate
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      unitRef="client">12500000</tef:NumberOfClientsRecognisedAsOfAcquisitionDate>
    <tef:NumberOfClientsRecognisedAsOfAcquisitionDatePercentage
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzE1OTQyOTE4NjE1MDgz_5c5fa976-3de7-4c42-a8d6-4d2c529288e7"
      unitRef="number">0.30</tef:NumberOfClientsRecognisedAsOfAcquisitionDatePercentage>
    <tef:SpectrumRecognisedAsOfAcquisitionDatePercentage
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      unitRef="number">0.46</tef:SpectrumRecognisedAsOfAcquisitionDatePercentage>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzEwOTk1MTE2MzY0NDY_5cf65f30-653b-484d-9f6f-554b382ac81d"
      unitRef="sitesofmobileaccess">2700</tef:InfrastructureContractsRecognisedAsOfAcquisitionDate>
    <tef:InfrastructureContractsRecognisedAsOfAcquisitionDatePercentage
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzgyMDA_02486a70-079f-48a5-92c2-fb026d02fd3f"
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    <ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzI3NDg3NzkwNzgyMDE_47508274-6f32-4e48-928f-8d1970d2db0b">The following table presents the consideration, the fair value of the identifiable assets and the liabilities assumed at the acquisition date and the goodwill:&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Consideration&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;1,093&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;539&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(221)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(55)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;417&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;676&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Share purchase price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payment obligations cancelled&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Accounts receivable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Accounts payable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Preliminary goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;170&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;The following table presents the consideration, the fair value of assets and liabilities identified at the acquisition date and the preliminary goodwill:&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Share purchase price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;191&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payment obligations cancelled&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;353&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Right of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Accounts receivable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Current tax payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;74&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Preliminary goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;279&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;The following table presents the transaction, fair value of assets and liabilities identified at the acquisition moment, and the goodwill generated:&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Enterprise value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;398&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Adjustments of debt and cash&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Consideration (share purchase price)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;271&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Customer relationships&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(140)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Fair value of net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Goodwill (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;284&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfDetailedInformationAboutBusinessCombinationsExplanatory>
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    <tef:OtherCurrentLiabilitiesAsOfAcquisitionDate
      contextRef="i374e8fe7a376468c87443b75d401c614_I20210729"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzE1LTEtMS0xLTUxMDQ0Mg_13a7c92a-0220-4b34-9e4d-3d60558112fa"
      unitRef="eur">49000000</tef:OtherCurrentLiabilitiesAsOfAcquisitionDate>
    <ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed
      contextRef="i374e8fe7a376468c87443b75d401c614_I20210729"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzE2LTEtMS0xLTUxMDQ0Mg_faf277f7-e992-4b48-8716-522b93652bb7"
      unitRef="eur">-13000000</ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed>
    <ifrs-full:GoodwillRecognisedAsOfAcquisitionDate
      contextRef="i374e8fe7a376468c87443b75d401c614_I20210729"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90YWJsZTozMDI5MmI4ZjZjNTc0OGM5YTFmMDQ4ZjVkYzM5MmZmNy90YWJsZXJhbmdlOjMwMjkyYjhmNmM1NzQ4YzlhMWYwNDhmNWRjMzkyZmY3XzE3LTEtMS0xLTUxMDQ0Mg_445c4465-feb4-494c-9030-a5540955d2b9"
      unitRef="eur">284000000</ifrs-full:GoodwillRecognisedAsOfAcquisitionDate>
    <tef:BusinessCombinationPaymentsToCancelAccountsPayable
      contextRef="i374e8fe7a376468c87443b75d401c614_I20210729"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzY0NA_9f0fd7f3-df44-442d-a79c-9e3959b6d6ea"
      unitRef="eur">122000000</tef:BusinessCombinationPaymentsToCancelAccountsPayable>
    <ifrs-full:ProfitLossOfAcquiree
      contextRef="i0ad41ecc583646e59058692301957538_D20210729-20210729"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yODkvZnJhZzpkYTc1NzRkNzNkM2M0ZDE5YjNiNGY0ODQ1MWE1YTExOC90ZXh0cmVnaW9uOmRhNzU3NGQ3M2QzYzRkMTliM2I0ZjQ4NDUxYTVhMTE4XzExNzI_0f98633a-53b4-4023-a512-8515162e0475"
      unitRef="eur">-4000000</ifrs-full:ProfitLossOfAcquiree>
    <ifrs-full:DisclosureOfIntangibleAssetsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzU2MzU_3c05eddf-9704-4aae-90ec-6cac88de1093">Intangible assets&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of and movements in net intangible assets in 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.666%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.115%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;br/&gt;and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combi-nations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;173&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(844)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;392&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,550&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,494&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,337)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;971&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(356)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;721&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;840&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(818)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;644&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,530&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,599)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(31)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;204&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;545&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;647&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,017&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:15pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.700%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,573&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,188&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(725)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;197&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,380&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;513&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;828&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,494&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(376)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;971&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;512&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(210)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;734&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;690&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(807)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,488&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,410&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,388)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(229)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;215&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;121&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;108&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Total additions of intangible assets in 2021 amounted to 2,981 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additions of spectrum in 2022 amounted to 173 million euros (1,704 million euros in 2021, including the additions corresponding to "Non-current assets and disposal groups held for sale").&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022 15 MHz of spectrum in the 1900 MHz band was renewed in Colombia for an amount of 125 million euros. The amount pending payment is detailed in Notes 21 and 22. In 2021, the acquisition of spectrum for 5G in Chile for 131 million euros was recorded.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In 2022 Telef&#xf3;nica Brazil renewed spectrum in the 850 MHz band for an amount of 35 million euros. The amount pending payment is detailed in Notes 21 and 22.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2021 Telef&#xf3;nica Spain acquired one block of 10 MHz in the 3.4 GHz band and 20 MHz of spectrum in the 700MHz band for an amount of 352 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;On December 3, 2021, ANATEL signed the terms of authorization for the use of the blocks of radio frequencies assigned to Telef&#xf3;nica Brazil. Pursuant to the terms, in addition to the amounts related to radio frequencies to be paid to ANATEL, the Company is making contributions to the Entidade Administradora de Faixa ("EAF" / Band Management Entity) and to the Entidade Administradora da Conectividade de Escolas ("EACE" / School Connectivity Management Entity). The estimated total cost, registered as addition in "service concession arrangements and licenses" in 2021, amounted to 4,459 million Brazilian real (700 million euros at the 2021 average exchange rate), of which 929 million Brazilian real from radio frequency licenses correspond to ANATEL (146 million &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;euros at the 2021 average exchange rate), 2,104 million Brazilian real to "EAF" (330 million euros at the 2021 average exchange rate) and 1,426 million Brazilian real to "EACE" (224 million euros at the 2021 average exchange rate).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;As a requirement for obtaining these authorizations, the Company, as well as the other successful telecommunication service bidder providers, assumed a series of commitments. For the 2.3 GHz and 3.5 GHz spectrum band obligations for coverage commitments and fiber optic backbone network deployment in locations with little or no connectivity infrastructure. In addition, the successful bidders for the 3.5 GHz band must fund all activities related to the migration of satellite TV services from the C band to the Ku band, for the construction of six high-capacity info-ways by laying sub fluvial cables for the Integrated and Sustainable Amazon Program ("PAIS") and the implementation of private (fixed and mobile) communication networks reserved for the Federal Public Administration. "EAF" will be responsible for the execution of these activities. The successful bidders for the 26 GHz spectrum bands will be required to fund "EACE's" activities for broadband connectivity projects for public schools to be selected across the country.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In March 2021 Telef&#xf3;nica United Kingdom acquired 40 MHZ of spectrum in the 3.6 GHz band and 20 MHz in the 700 MHz FDD band, amounting to 515 million euros. The acquisition was accounted under "Non-current assets and disposal groups held for sale" in the statement of financial position (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Impairments" in 2022 includes an impairment loss related to licenses and sofware of Telef&#xf3;nica Argentina, amounting to 21 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Business combinations&#x201d; in 2022 corresponds mainly to the acquisition of the intangible assets of Oi, the Incremental Group and the BE-terna Group amounting to 539, 24 and 77 million euros (see Note 5), respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;&#x201c;Business combinations&#x201d; in 2021 corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Transfers and others" in 2021 included the reclassification of the intangible assets of Telef&#xf3;nica de El Salvador amounting to 38 million euros to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Appendix VI contains the details of the main concessions and licenses which the Group operates. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The effect of the translation into euros of the intangible assets of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a), is shown in the column "Translation differences and hyperinflation adjustments".&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The gross cost, accumulated amortization and impairment losses of intangible assets at December&#160;31, 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.418%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.522%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,837&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(164)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,550&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,158&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14,344)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,368)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;721&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;944&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(681)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;870&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(829)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;652&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;644&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;40,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(28,345)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(188)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,017&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.418%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.522%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14,456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,007)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(121)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,442&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12,938)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,494&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,888&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,917)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;971&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;901&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(625)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;910&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(868)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;37,211&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25,355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(131)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;Goodwill&lt;div style="text-align:center"&gt;&lt;span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Movement in goodwill &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in goodwill assigned to each Group segment was as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.058%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.738%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Write-offs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate impact&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;695&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,166&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;49&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,215&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;398&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;827&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,519&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,152&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;805&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,471&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.169%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.869%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Write-offs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate impact&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,299&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(172)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,778&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(137)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(393)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(69)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,166&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;398&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17,044&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;297&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(353)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(416)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(50)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,519&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additions of Telef&#xf3;nica Brazil in 2022 mainly correspond to the goodwill from the acquisition of the assets of the mobile business of Oi Group (see notes 2 and 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additions in 2022 also include the preliminary goodwill from the acquisitions of Incremental and BE-terna, amounting to 170 million euros and 279 million euros, respectively (see Note 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additions in 2021 included the goodwill related to the acquisition of Cancom amounting to 284 million euros (see Note 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2021 an impairment loss was recognized on the goodwill allocated to Telef&#xf3;nica del Per&#xfa;, amounting to 393 million euros, with a balancing entry in &#x201c;Other expenses&#x201d; (see Note 26).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In August 2021 the closing of the second phase of the agreement of the contract dated June 8, 2020 between Telef&#xf3;nica Germany and Telxius was carried out and the sites corresponding to this phase were sold to ATC (see Note 2). The goodwill assigned amounting to 172 million euros was derecognized. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Disposals of Telef&#xf3;nica Hispam in 2021 included 137 million euros following the agreement for the sale of 60% of the shares of InfraCo, SpA by Telef&#xf3;nica Chile (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amount of Disposals of Telef&#xf3;nica Brazil in 2021 corresponded to the goodwill derecognized following the agreement with Caisse de d&#xe9;p&#xf4;t et placement du Qu&#xe9;bec or the construction, deployment and commercialization of a fiber-to-the-home (FTTH) network in Brazil, that was closed in July 2021 (see Note 10). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Cash-generating units &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.839%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,291&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,291&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,752&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,278&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,386&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,386&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,215&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,166&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;154&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;137&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;652&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;622&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;265&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;239&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others T. Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;827&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;398&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;429&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;110&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,471&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,519&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Goodwill is tested for impairment at the end of the year using the business plans of the cash-generating units to which the goodwill is assigned, approved by the Board of Directors of Telef&#xf3;nica. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The business plan covers a three-year period, including the closing year. In order to complete the five years of cash flows after the closing year, an additional normalization period is added to the business plans on the operating ratios until the terminal parameters are reached. The 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The process of preparing the CGUs&#x2019; 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Main assumptions used in calculating value in use  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;CGUs&#x2019; 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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main variables considered for the most significant CGUs (T. Brazil, T. Spain, and T. Germany), are described below.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Revenues &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In terms of revenues, the plan is in line with the average three-year estimates made by analysts, which include a trend towards stability or improvement.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;OIBDA margin and long-term Capital Expenditure (CapEx) ratio&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The values obtained, as described in the previous paragraphs, are compared with the available data of analysts and competitors in the geographic markets where Telef&#xf3;nica Group operates.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In Europe, the long-term OIBDA margins two-years estimates of Telef&#xf3;nica Group's analysts are within a range of 34% to 39% for Spain and 30% to 33% for Germany. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the long-term ratio of CapEx over revenues, the valuations performed for the impairment tests for Spain and Germany consider the opinions of Telef&#xf3;nica Group&#x2019;s analysts with regard to investment needs (around 12% for Spain and around 14% for Germany). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As for the long-term OIBDA margin two-years estimates of Telef&#xf3;nica Group's analysts for the operator in Brazil, it is in a range within 41% to 46%. Regarding investments, the operator will invest a percentage over the horizon of the projected plan that is in line with the investment needs foreseen for the development of its business, which on average is around 16%.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Discount rate&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The discount rate, applied to discount cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and cost of debt according to the finance structure determined for each CGU. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;This rate is calculated using the capital asset pricing model (CAPM), which considers the asset&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The most significant components of WACC are summarized as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;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, influenced by central banks interventions. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Equity Risk Premium: 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;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&#xb4; returns and the stock market returns, of the country where the company is listed.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main underlying data used in these calculations are obtained from independent and renowned external information sources. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The discount rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:29.163%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.446%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Discount rate in local currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Before tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;After-tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Before tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;After-tax&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.0%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.9%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.5%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.5%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16.4%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12.6%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15.2%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12.0%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.0%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.7%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.2%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.2%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Perpetuity growth rate&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;GDP growth of each country and growth data from external sources, adjusting any particular case with specific characteristics related to the business evolution. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The perpetuity growth rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.839%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Perpetuity growth rate&lt;br/&gt;in local currency&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.8%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.8%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.5%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.5%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.0%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.1%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The perpetuity growth rates for 2022 remained stable comparing to 2021. In Brazil, the perpetuity growth rate is within the range of the estimations of the analysts, it is consistent with the Brazilian Central Bank&#x2019;s medium-term inflation target (in a range between 1.5% and 4.5%) and it is below the nominal GDP growth rate of around 5.5%, according to market expectations. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Sensitivity to changes in assumptions &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test.  For the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:53.139%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.496%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in key assumptions,&lt;br/&gt;In percentage points&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financial variables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Discount rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetuity growth rates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.25&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.25&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term operating variables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;OIBDA Margin&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-1.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-1.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ratio of CapEx/Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.75&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.75&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The sensitivity analysis revealed a gap between the recoverable value and carrying amount for the main CGUs at December 31, 2022.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As indicated above, in 2021 an impairment loss of 393 million euros was recognized on the goodwill allocated to Telef&#xf3;nica del Per&#xfa;. The Group has performed the annual impairment test at the end of 2022. As a result of the analysis performed, no additional impairment has been recognized. Regarding the sensitivity of the calculation of the value in use of Telef&#xf3;nica del Per&#xfa; to reasonable variations in the key assumptions used, an increase of 100 basis points, in the WACC of 10.4%, would result in an impairment of goodwill in the amount of 160 million euros, while a decrease of 25 basis points in the perpetuity growth rate of 2.4% would have a negative impact of 11 million euros. In turn, a decrease in the OIBDA margin by approximately 1 percentage point would result in an impairment of goodwill of 95 million euros, and an increase in the investment ratio by 0.5 percentage points would have a negative impact on the carrying amount of goodwill of approximately 60 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In Ecuador, the uncertainty of the political situation has raised the country risk indicator, with its consequent impact on financial costs and the discount rate used to estimate the recoverable value of the investment. Therefore, in the sensitivity of the calculation of the value in use of Telef&#xf3;nica Ecuador to reasonable variations in the key assumptions, an increase of around 150 basis points in the WACC, which is around 16%, would result in an impairment of goodwill of approximately 30 million euros, while a decrease of around 25 basis points in the perpetual growth rate of 2% would have no negative impact on the carrying value of goodwill. On the operating assumptions side, a 1.75 percentage point decrease in the OIBDA margin would result in an impairment of goodwill of approximately 12 million euros, and a 0.9 percentage points increase in the investment ratio would result in a negative impact on the carrying amount of goodwill of approximately 3 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In Chile, the economy growth slowed down in 2022 due to various factors that had a negative impact on family income. These include the withdrawal of fiscal measures, a slowing labor market and high inflation that was above 10% throughout the year, and which forced the Central Bank of Chile to raise interest rates. On the other hand, the constitutional reform process, later revoked and reactivated, has added uncertainty, harming the country's short- &lt;/span&gt;&lt;/div&gt;and medium-term growth expectations. In this context, the sharp rise in interest rates has increased the discount rate to 9.4%. Therefore, in the sensitivity of the calculation of the value in use of Telef&#xf3;nica de Chile to reasonable variations in the key assumptions, an increase of around 50 points basis points in the WACC would result in an impairment of goodwill of 60 million euros, while a decrease of around 25 basis points in the perpetuity growth rate (2.8%) would not have a negative impact on the carrying amount. On the business side, a 1.25 percentage point decrease in the OIBDA margin would result in an impairment of goodwill of 116 million euros and an increase of 0.63 percentage points in the investment ratio would have a negative impact of approximately 60 million euros on the carrying amount of goodwill.</ifrs-full:DisclosureOfIntangibleAssetsExplanatory>
    <ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzU1Njc_1df2e22e-b75d-4b34-a26f-009c8ddacf56">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of and movements in net intangible assets in 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.666%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.115%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;br/&gt;and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combi-nations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;173&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(844)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;392&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,550&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,494&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,337)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;971&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(356)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;721&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;840&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(818)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;644&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,530&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,599)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(31)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;204&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;545&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;647&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,017&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:15pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.700%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,573&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,188&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(725)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;197&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,380&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;513&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;828&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,494&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(376)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;971&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;512&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(210)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;734&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;690&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(807)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,488&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,410&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,388)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(229)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;215&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;121&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;108&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Total additions of intangible assets in 2021 amounted to 2,981 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory>
    <ifrs-full:IntangibleAssetsOtherThanGoodwill
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      unitRef="eur">7328000000</ifrs-full:IntangibleAssetsOtherThanGoodwill>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill
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    <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill
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    <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill
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    <ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill
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      unitRef="eur">19000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill
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      unitRef="eur">0</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90YWJsZTo1ZWNmNWQ5ZTI4ZGU0OWY0OTFjNjY2YzAxNTQxM2E5Mi90YWJsZXJhbmdlOjVlY2Y1ZDllMjhkZTQ5ZjQ5MWM2NjZjMDE1NDEzYTkyXzItNy0xLTEtNTEwNDQy_0c67b42f-e6c7-4591-b678-13636683168f"
      unitRef="eur">392000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill
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      contextRef="ica89060791784538b59c7fda48acf772_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzQ0ODQ_e1a55844-d382-4145-a91e-551f99b367ed"
      unitRef="eur">38000000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:DisclosureOfReconciliationOfChangesInIntangibleAssetsAndGoodwillExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTIvZnJhZzozZDlmOTk5N2ZjYTM0NWFhOTBiNTAwODEyZmVlMWQ2OC90ZXh0cmVnaW9uOjNkOWY5OTk3ZmNhMzQ1YWE5MGI1MDA4MTJmZWUxZDY4XzU1NzI_e6c54259-d71c-41b2-91b7-8a6ac82d55b1">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The gross cost, accumulated amortization and impairment losses of intangible assets at December&#160;31, 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.418%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.522%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,837&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(164)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,550&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,158&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14,344)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,368)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;721&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;944&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(681)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;870&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(829)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;652&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;644&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;40,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(28,345)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(188)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,017&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.418%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.522%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Service concession arrangements and licenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14,456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,007)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(121)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Software&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,442&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12,938)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,494&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Customer base&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,888&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,917)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;971&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trademarks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;901&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(625)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;910&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(868)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets in process&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;614&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;37,211&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25,355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(131)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in goodwill assigned to each Group segment was as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.058%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.734%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.738%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Write-offs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate impact&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;695&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,166&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;49&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,215&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;398&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;827&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,519&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,152&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;805&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,471&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.169%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.869%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Write-offs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate impact&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,299&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(172)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,778&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(137)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(393)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(69)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,166&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;398&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17,044&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;297&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(353)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(416)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid 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    <ifrs-full:IntangibleAssetsAndGoodwill
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      unitRef="eur">398000000</ifrs-full:IntangibleAssetsAndGoodwill>
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      unitRef="eur">17044000000</ifrs-full:IntangibleAssetsAndGoodwill>
    <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtMi0xLTEtNTEwNDQy_7133f3a2-e546-43c0-8d1a-5631d7d0b258"
      unitRef="eur">297000000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzctMy0xLTEtNzEwODUy_0f9f7459-d86c-43e3-85f2-abf3628d7048"
      unitRef="eur">353000000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
    <ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtMy0xLTEtNTEwNDQy_55ad7c46-0ba2-4c3a-a44c-0bd34d9c954e"
      unitRef="eur">416000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill>
    <ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtNC0xLTEtNTEwNDQy_2332c12f-551b-4a65-bec8-d892b1be3674"
      unitRef="eur">-50000000</ifrs-full:IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtNS0xLTEtNTEwNDQy_08de5634-0602-4bd9-ba38-0fcbb19569cb"
      unitRef="eur">-3000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill>
    <ifrs-full:IntangibleAssetsAndGoodwill
      contextRef="i7c4790485c644e4790481beb687cf0c2_I20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90YWJsZTo1NmQ5ZDFjMTU5MTI0NDQwYTRhNmE4MWU1OGNjNGJjYi90YWJsZXJhbmdlOjU2ZDlkMWMxNTkxMjQ0NDBhNGE2YTgxZTU4Y2M0YmNiXzgtNi0xLTEtNTEwNDQy_e6dd4611-2e4b-4acb-aa05-7b7343fdd3e7"
      unitRef="eur">16519000000</ifrs-full:IntangibleAssetsAndGoodwill>
    <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill
      contextRef="i3fd077d79fbb48eea9a73165a5495a44_D20220321-20220321"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc2OTY1ODE0MTQxNDA_6da88ebb-eab3-451a-94f1-d2c6243b7032"
      unitRef="eur">170000000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
    <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill
      contextRef="iaa3bce5a399f4dc988953da7744a81f5_D20220609-20220609"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2Xzc2OTY1ODE0MTQxNDg_c662dee9-4374-4dd6-bf1e-0dc5985b15de"
      unitRef="eur">279000000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
    <ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzIxMg_9d90ef44-b579-4df7-a556-d38f1d4b08d4"
      unitRef="eur">284000000</ifrs-full:AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill>
    <ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzM0Ng_7a276148-aae3-4023-9e7d-beb79747acfb"
      unitRef="eur">393000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill>
    <ifrs-full:DisposalsIntangibleAssetsAndGoodwill
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE1OTQyOTE4NjIzMjY5_82cd9723-f5e8-4d4d-94e2-2dc484088e5b"
      unitRef="eur">172000000</ifrs-full:DisposalsIntangibleAssetsAndGoodwill>
    <ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill
      contextRef="id3b99e2c2ce64b4bb3c68f1d59b7d6cc_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzIyODY_9dd19b4a-31d1-44d5-bb06-8c90c65a29cf"
      unitRef="eur">-137000000</ifrs-full:ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill>
    <tef:PercentageOfVotingEquityTransferedAsConsideration
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzIzNDM_9563e28b-823d-49d4-8241-5c06094e6bee"
      unitRef="number">0.60</tef:PercentageOfVotingEquityTransferedAsConsideration>
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      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzEyOTk3_678575f8-8998-482a-8cf1-7da2b3a035d0">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: &lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.839%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,291&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,291&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,752&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,278&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,386&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,386&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,215&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,166&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;154&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;137&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;652&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;622&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;265&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;239&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others T. Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;827&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;398&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;429&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;110&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,471&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,519&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The discount rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:29.163%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.446%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Discount rate in local currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Before tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;After-tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Before tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;After-tax&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.0%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.9%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.5%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.5%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16.4%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12.6%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15.2%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12.0%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.0%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.7%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.2%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.2%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The perpetuity growth rates applied to the cash flow projections in 2022 and 2021 for the main CGUs are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.839%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Perpetuity growth rate&lt;br/&gt;in local currency&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.8%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.8%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.5%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.5%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.0%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.1%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory>
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For the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:53.139%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.496%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in key assumptions,&lt;br/&gt;In percentage points&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financial variables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Discount rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetuity growth rates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.25&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.25&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term operating variables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;OIBDA Margin&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-1.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-1.5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ratio of CapEx/Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+/-0.75&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU1ODg1_8d9e5813-4cf5-4553-8e71-ff3885ebf83d"
      unitRef="number">0.028</ifrs-full:DescriptionOfGrowthRateUsedToExtrapolateCashFlowProjections>
    <tef:SensitivityAnalysisBasisSpreadOnVariableRate
      contextRef="i0f724d0d26864f498f4e7c1974401174_I20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDc5_5961e699-bc65-4fe2-97da-bf53b2649202"
      unitRef="number">-0.0125</tef:SensitivityAnalysisBasisSpreadOnVariableRate>
    <tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill
      contextRef="i71b43c231a9f44aa96cfd87be7bb5865_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU2MTkx_8b98a2ef-06ca-4156-aa56-433b7ca2b994"
      unitRef="eur">116000000</tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill>
    <tef:SensitivityAnalysisBasisSpreadOnVariableRate
      contextRef="i828ab6cf50674bfabf86bbb748b60f75_I20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDUyMDg5_1155d4d3-db38-4b4c-ad61-10b6bc1915ac"
      unitRef="number">0.0063</tef:SensitivityAnalysisBasisSpreadOnVariableRate>
    <tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill
      contextRef="i72bc6f6472a7426fa31f6b492a870693_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTUvZnJhZzpiOGQzMjQwNDdjOTE0MGJiYjcyMjRhYzE2MmEyZTA2Ni90ZXh0cmVnaW9uOmI4ZDMyNDA0N2M5MTQwYmJiNzIyNGFjMTYyYTJlMDY2XzE2NDkyNjc0NDU2MTg3_b851607d-151e-442d-aa61-b115225ff3cd"
      unitRef="eur">60000000</tef:SensitivityAnalysisEstimatedAdditionalImpairmentOfGoodwill>
    <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzUxMTg_67e804f2-562a-46f8-8802-b2a215440d6e">Property, plant and equipment&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition and movements in 2022 and 2021 of the items comprising net "Property, plant and equipment" were as follows:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.250%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.823%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation&lt;br/&gt;differences and&lt;br/&gt;hyperinflation&lt;br/&gt;adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combina-tions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(216)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,641&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,707)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(43)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,908&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;933&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;552&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(210)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;576&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,761&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,867&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,353)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,332&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,289&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,133)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(209)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,127&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;37&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23,714&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.771%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.186%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.233%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.303%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.116%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Depre-ciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impair-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation&lt;br/&gt;differences and&lt;br/&gt;hyperinflation&lt;br/&gt;adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combi-nations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(241)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(85)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,676&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,893)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,780&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(297)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;623&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;552&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,641&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,519&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,393)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,761&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23,769&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,880&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,360)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(416)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;291&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(383)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Total additions of property, plant and equipment in 2021 amounted to 4,286 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Telef&#xf3;nica Spain's investments in property plant and equipment in 2022 and 2021 amounted to 1,288 and 1,155 million euros, respectively. The rapid rollout of fiber continues, with more than 28 million premises passed in Telef&#xf3;nica Spain by the end of 2022, as well as the development of the 5G network reaching, 85% population coverage by the end of the year. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Telef&#xf3;nica Germany's investments in property, plant and equipment in 2022 and 2021 amounted to 854 and 913 million euros, respectively. The strong progress in 5G rollout and network modernization continues. 5G population coverage stood at approximately 80% at the end of 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Telef&#xf3;nica Brazil's investments in property, plant and equipment in 2022 and 2021 amounted to 1,277 and 1,049 million euros, respectively. The investments were mainly dedicated to the expansion of the coverage and capacity of the 4G mobile networks, with a coverage of 96% of the population, and to the improvement of the quality of the network and the expansion of the FTTH network in the fixed business, with more than 23.3&#160;million premises passed. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Telef&#xf3;nica Hispam's investments in property, plant and equipment in 2022 and 2021 amounted to 732 and 680 million euros, respectively. Investments continued to focus on the improvement of the mobile networks (with the expansion of the coverage and capacity reinforcement), as well as on the deployment of its own fixed network. Efficient management of available resources and optimization of CapEx are the main management levers in the region, with a focus on simplification, digitalization of processes and the search for synergies through the promotion of regional initiatives.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Telef&#xf3;nica United Kingdom's investments in property, plant and equipment in 2021, up to the completion of the transaction (see Note 2), amounted to 366 million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Impairments" in 2022 includes an impairment loss related to assets of Telef&#xf3;nica Argentina, amounting to 56 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Business combinations" in 2022 mainly correspond to the acquisition of property, plant and equipment of Oi, the Incremental Group and the BE-terna Group amounting to 29, 1 and 6 million euros (see Note 5), respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Business combinations" in 2021 mainly corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5) amounted to 15 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, there was an increase in the depreciation of property, plant and equipment amounting to 8 million euros (47 million euros in 2021) due to the reduction in the useful lives of certain assets of Telef&#xf3;nica M&#xe9;xico as a result of the transformation of the operating model announced in November 2019.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Transfers and others" in 2021 included the reclassifications of property, plant and equipment of Telef&#xf3;nica El Salvador and fiber optic assets of Telef&#xf3;nica Colombia amounted to 70 and 53 million euros respectively, to "Non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Business sale&#x201d; in 2021 mainly corresponded to the sales of InfraCo, SpA and the second phase of the sale of towers by Telefonica Germany (see Note 2) amounted to 158 and 126 million euros, respectively, and the assets associated to Fibrasil following the Caisse de d&#xe9;p&#xf4;t et placement du Qu&#xe9;bec (CDPQ) agreement and the sale of two data centers in Spain after the agreement with Nabiax (see Note 10) for a total amount of 36 and 63 million euros, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The effect of translating into euros of property, plant and equipment of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a), is shown in the column "Translation differences and hyperinflation adjustments".&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December&#160;31, 2022 and 2021 were as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.876%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.909%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,097&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,375)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(81)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,641&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91,319&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(72,742)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(412)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,157&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,566)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;576&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,343&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,332&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;107,916&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(83,683)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(519)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23,714&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.876%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.909%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Land and buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,624&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,905)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86,779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(68,713)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(314)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Furniture, tools and other items&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,697&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,133)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;552&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PP&amp;amp;E in progress&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,774&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,761&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&#160;PP&amp;amp;E&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101,874&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(78,751)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(398)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22,725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzItMS0xLTEtNTEwNDQy_a9ba85e5-9fb4-4ff5-af05-72ca85972998"
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzItMy0xLTEtNTEwNDQy_62b34c20-6cbc-4186-af35-a7ca75a11c15"
      unitRef="eur">25000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:DepreciationPropertyPlantAndEquipment
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTpkNDNmNjg5MTA5NTQ0NmZjODVmYTJlYzc4ODc1OGZiZi90YWJsZXJhbmdlOmQ0M2Y2ODkxMDk1NDQ2ZmM4NWZhMmVjNzg4NzU4ZmJmXzItNC0xLTEtNTEwNDQy_ca1adac3-104b-422f-b007-759be70fd978"
      unitRef="eur">216000000</ifrs-full:DepreciationPropertyPlantAndEquipment>
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      unitRef="eur">22000000</ifrs-full:DisposalsPropertyPlantAndEquipment>
    <ifrs-full:ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment
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      unitRef="eur">15000000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtOS0xLTEtNTEwNDQy_b1a94cb7-4021-48ea-ae0e-d66adaa23142"
      unitRef="eur">383000000</ifrs-full:DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTplYjI4NmU3NTRiYWE0ZGUwYTYyZDE5Zjk3NGYyNzk0MS90YWJsZXJhbmdlOmViMjg2ZTc1NGJhYTRkZTBhNjJkMTlmOTc0ZjI3OTQxXzYtMTAtMS0xLTUxMDQ0Mg_a5768973-292a-4119-a33e-d6696341db99"
      unitRef="eur">22725000000</ifrs-full:PropertyPlantAndEquipment>
    <tef:Additionspropertyplantandequipment
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQ2Mg_bd14ba0f-a826-412b-a61e-0de0af3475fc"
      unitRef="eur">4286000000</tef:Additionspropertyplantandequipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="ia687bdd116a2446ab6164107616ab3da_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzY4Mg_1bc68e36-cd04-4e4b-baf0-13c0e5d3d263"
      unitRef="eur">1288000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="i144ffb815b844772a12925583929c11c_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzY4OQ_42b0bd18-c603-4471-b3b8-3a9dcaf07364"
      unitRef="eur">1155000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <tef:NumberOfPremisesCoveredByFiberOptic
      contextRef="ia687bdd116a2446ab6164107616ab3da_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzc3Mg_090cfeaa-26a3-4862-a7fb-91658a6e7e7b"
      unitRef="premise">28000000</tef:NumberOfPremisesCoveredByFiberOptic>
    <tef:A5GNetworkPopulationCoveragePercentage
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzg4OQ_7fe849bd-26e5-476c-ae1a-a0defc9871e0"
      unitRef="number">0.85</tef:A5GNetworkPopulationCoveragePercentage>
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      contextRef="idec6783c05de46ef87de4b4172924f93_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE0Mjk_5af6f88c-5628-4505-b1a9-f70e702e25ac"
      unitRef="eur">854000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="i2f5195edc5a44f2ea0cb3e38a72c181a_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE0MzY_32066764-49e1-4136-9853-fcf9aa1a16ee"
      unitRef="eur">913000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <tef:PercentageOfPopulationCoveredIn5GNetwork
      contextRef="idec6783c05de46ef87de4b4172924f93_D20220101-20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE2MjM_6472ca9e-0740-4d02-95ad-f86b37afaedd"
      unitRef="number">0.80</tef:PercentageOfPopulationCoveredIn5GNetwork>
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      contextRef="i636c82e0b95548f4968677554e881506_D20220101-20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE3MzM_ac97b8d3-1cc3-4411-a83f-f9c1985d3f36"
      unitRef="eur">1277000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="i71aed1eb31a14df1bc334d36cc1b45e3_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE3NDA_25d4499c-5d28-4b86-9e8c-9f3358af41d3"
      unitRef="eur">1049000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <tef:PercentageOfPopulationCoveredIn4GNetwork
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE5MDA_29a1cb02-ab9f-4085-93e8-3c5d637fb16a"
      unitRef="number">0.96</tef:PercentageOfPopulationCoveredIn4GNetwork>
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      decimals="-5"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzIwMTE_b8f19093-d6e9-4f43-8aab-0246a3c6dbc4"
      unitRef="premise">23300000</tef:NumberOfPremisesCoveredByFTTHNetwork>
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      contextRef="ica2c57a19eb042fcb1fddebfdac696fd_D20220101-20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzIxMjM_55b1b420-4afd-49de-898e-4b4d179359db"
      unitRef="eur">732000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
    <ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment
      contextRef="i715f298c63824323bc54de97a01fad0b_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzIxMzA_3e0b87b8-d911-4995-ab65-a4d77de52e00"
      unitRef="eur">680000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
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      contextRef="id88ae4c2625d4d9ea74069ce6c9dd94b_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwOTI_cc93b750-30e4-4b99-a737-59f0f2d27d9d"
      unitRef="eur">366000000</ifrs-full:AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzE2NDkyNjc0NTM5MzA_7ec60812-dfa1-492a-8c03-1d3ee367fab2"
      unitRef="eur">56000000</ifrs-full:ImpairmentLossRecognisedInOtherComprehensiveIncomePropertyPlantAndEquipment>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwNzc_38390e9d-425a-46ee-9b8c-296bc5bf28ed"
      unitRef="eur">29000000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
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      contextRef="i900e88a9cc474f57a56fdc83ce179f7b_D20220101-20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwODE_88ea9925-ab3e-4263-9874-d8cacef721f4"
      unitRef="eur">1000000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
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      contextRef="i95666ca12ee949c5ae662dcae046ad80_D20220101-20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwODU_1e9bb8f4-478e-4e77-a36c-bd24b962a779"
      unitRef="eur">6000000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzQzOTgwNDY1MjMwNjg_e9637f05-9bd7-4927-bda7-32045deb9fef"
      unitRef="eur">15000000</ifrs-full:AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment>
    <tef:IncreaseDecreaseInDepreciationPropertyPlantAndEquipment
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90ZXh0cmVnaW9uOjZiNDU1OGM5Nzc5NjQwOTlhMzM1YjQwZWQ5M2M3NDYxXzI1Njk_27ad9fdb-991e-4caf-8a85-2b505fcb4a14"
      unitRef="eur">8000000</tef:IncreaseDecreaseInDepreciationPropertyPlantAndEquipment>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzYtMy0xLTEtNTEwNDQy_487d5c7d-c815-4688-9d42-5f4b66e3b6b6"
      unitRef="eur">-398000000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:PropertyPlantAndEquipment
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8yOTgvZnJhZzo2YjQ1NThjOTc3OTY0MDk5YTMzNWI0MGVkOTNjNzQ2MS90YWJsZTozNmUwZjllNzNjMzU0YWQ4OGEyZWE5YTU3NDc5NDY2Mi90YWJsZXJhbmdlOjM2ZTBmOWU3M2MzNTRhZDg4YTJlYTlhNTc0Nzk0NjYyXzYtNC0xLTEtNTEwNDQy_f0365223-cf73-4070-9ca2-0a6d22335fc4"
      unitRef="eur">22725000000</ifrs-full:PropertyPlantAndEquipment>
    <ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5Njc_f5601d89-b16a-4326-8478-3d0463292032">Rights of use&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of rights of use in 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.882%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.619%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.847%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;793&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(279)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,402&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,139)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;110&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;596&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(574)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,037&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(72)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;227&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,579&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,448&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,064)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(57)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;111&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;282&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,279&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.771%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.116%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sale of the towers division of Telxius&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amorti-zation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combina-tions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;762&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;316&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(85)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(191)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;793&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,819&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;776&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,096&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,012)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(94)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(40)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;796&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(382)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(109)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(64)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,982&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,979&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,500&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,649)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(221)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,579&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Total additions of rights of use in 2021 amounted to 2,439 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.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Business combinations" in 2022 corresponds to the acquisition of rights of use of Oi, the Incremental Group and the BE-terna Group (see Note 5) amounting to 105, 1 and 5 million euros, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Business combinations" in 2021 corresponded to the inclusion of Cancom Ltd in the consolidation perimeter (see Note 5) amounted to 8 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The effect of the translation into euros of rights of use of the Group's companies in Argentina and Venezuela, together with the effect of the hyperinflation adjustments (see Note 3.a) is shown in the column "Translation differences and hyperinflation adjustments". &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, there was an increase in amortization of rights of use amounting &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;to 17 mil&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;lion euros (40 million euros in 2021) due to the reduction in the useful lives of certain rights of use of Telef&#xf3;nica M&#xe9;xico as a result of the transformation of the operating model announced in November 2019.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In 2021 Telxius sold its telecommunications towers division to American Tower Corporation (see Note 2). The Telef&#xf3;nica Group operators maintained the leases agreements of the towers signed with the companies sold, subsidiaries of Telxius. Consequently, as of the closing date of the transactions, rights of use were recorded in the consolidated statement of financial position in the amount of 2,633 million euros. &#x201c;Sale of the towers division of Telxius&#x201d; column also includes the derecognition of rights of use with third parties corresponding to the second phase of the sale agreement between Telefonica Germany and Telxius in the amount of 133 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Transfers and others" in 2021 included the transfer to "Non-current assets and disposal groups held for sale" of the rights of use of Telef&#xf3;nica El Salvador amounted to 36 million euros (see Note 30).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The gross cost and accumulated depreciation of the rights of use at December 31, 2022 and 2021 are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:54.471%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.882%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.779%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,923&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,038)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,053&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,923)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,560&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,523)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,037&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(242)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;227&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,005&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,726)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,279&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:54.471%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.882%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.779%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,491&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(698)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;793&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,653)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,003&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(979)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;404&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(203)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,112&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,533)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,579&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of expenses related to leases included in Supplies and Other expenses (see Note 3.g) of the consolidated income statement for 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.321%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.690%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term leases included in operating results as supplies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Variable lease payments not included in the measurement of lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total expenses as supplies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;41&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term leases included in external services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Leases of low-value assets included in external services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Variable lease payments not included in the measurement of lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total expenses as external services (Note 26)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;86&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total lease expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;125&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;121&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory>
    <tef:MovementsofRightsofUseTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5Njg_8b673658-3cdc-42c5-a725-81bcf83ac3c2">&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of rights of use in 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.882%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.619%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.847%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;793&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(279)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,402&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,139)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;110&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;596&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(574)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,037&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(72)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;227&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,579&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,448&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,064)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(57)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;111&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;282&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,279&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.771%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.116%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sale of the towers division of Telxius&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amorti-zation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Business combina-tions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;762&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;316&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(85)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(191)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;793&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,819&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;776&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,096&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,012)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(94)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(40)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;796&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(382)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(109)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(64)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,982&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,979&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,500&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,649)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(221)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,579&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Total additions of rights of use in 2021 amounted to 2,439 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.&lt;/span&gt;&lt;/div&gt;</tef:MovementsofRightsofUseTableTextBlock>
    <ifrs-full:RightofuseAssets
      contextRef="i15bde19318104a49834a7538e99ea42c_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItMS0xLTEtNTEwNDQy_5cef0009-0e73-45dc-bdd9-9e32f798a060"
      unitRef="eur">793000000</ifrs-full:RightofuseAssets>
    <ifrs-full:AdditionsToRightofuseAssets
      contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItMi0xLTEtNTEwNDQy_15da456a-25f4-405e-931d-f8a705ce64c6"
      unitRef="eur">367000000</ifrs-full:AdditionsToRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNC0xLTEtNTEwNDQy_7a7d38e7-9523-4d52-ad73-b811cccef6b1"
      unitRef="eur">279000000</ifrs-full:DepreciationRightofuseAssets>
    <tef:Disposalsrightofuseassets
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNS0xLTEtNTEwNDQy_fe179c0a-2b61-4a53-86cd-59b6045025c4"
      unitRef="eur">7000000</tef:Disposalsrightofuseassets>
    <tef:InclusionOfCompaniesRightOfUseAssets
      contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNi0xLTEtNTEwNDQy_5205f5e1-adaf-42b1-aafc-ba22564ef7f1"
      unitRef="eur">0</tef:InclusionOfCompaniesRightOfUseAssets>
    <tef:Transfersandothersrightofuseassets
      contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItNy0xLTEtNTEwNDQy_f5d050ab-3ce6-4a55-b130-a1301cefa85c"
      unitRef="eur">15000000</tef:Transfersandothersrightofuseassets>
    <tef:Translationdifferencesandhyperinflationrightofuseassets
      contextRef="i5d0aaa98296c4475a102f8742e83f2d0_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItOC0xLTEtNTEwNDQy_6a16bd7e-84aa-42ae-9b9d-60f19e9c36fb"
      unitRef="eur">26000000</tef:Translationdifferencesandhyperinflationrightofuseassets>
    <ifrs-full:RightofuseAssets
      contextRef="iea5cba2b76d9421baf90d27f37171090_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzItOS0xLTEtNTEwNDQy_facba687-baf8-4f85-9d3b-f95abd604a75"
      unitRef="eur">885000000</ifrs-full:RightofuseAssets>
    <ifrs-full:RightofuseAssets
      contextRef="i8a6bf5cc54cc4d8b9c97cbaabf1d2824_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzMtMS0xLTEtNTEwNDQy_6da4b6bd-40ff-4235-a8a3-cf5a1fd0826a"
      unitRef="eur">3561000000</ifrs-full:RightofuseAssets>
    <ifrs-full:AdditionsToRightofuseAssets
      contextRef="i72413a4de87c4c6c9d3e134aeed04cfc_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzMtMi0xLTEtNTEwNDQy_d0c4dd9e-d86e-4948-bd82-5c46fd71fd31"
      unitRef="eur">1402000000</ifrs-full:AdditionsToRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="i72413a4de87c4c6c9d3e134aeed04cfc_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzMtNC0xLTEtNTEwNDQy_24ce2714-c596-40c7-9de1-774d0bc23ec1"
      unitRef="eur">1139000000</ifrs-full:DepreciationRightofuseAssets>
    <tef:Disposalsrightofuseassets
      contextRef="i72413a4de87c4c6c9d3e134aeed04cfc_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzMtNS0xLTEtNTEwNDQy_59d0bf7a-4e4d-4c2e-aa09-225ab2aafb7d"
      unitRef="eur">29000000</tef:Disposalsrightofuseassets>
    <tef:InclusionOfCompaniesRightOfUseAssets
      contextRef="i72413a4de87c4c6c9d3e134aeed04cfc_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTowMmViOTkyODFiOWU0ZDAyYTRlZDM2OWU1NmUwMmEyYS90YWJsZXJhbmdlOjAyZWI5OTI4MWI5ZTRkMDJhNGVkMzY5ZTU2ZTAyYTJhXzMtNi0xLTEtNTEwNDQy_7f77258d-a9dc-40fa-b072-0e9fbe83f2c2"
      unitRef="eur">110000000</tef:InclusionOfCompaniesRightOfUseAssets>
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      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtNi0xLTEtNTEwNDQy_9b483785-8da1-4824-9544-26acc936d109"
      unitRef="eur">8000000</tef:InclusionOfCompaniesRightOfUseAssets>
    <tef:Transfersandothersrightofuseassets
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtNy0xLTEtNTEwNDQy_22a4732b-f908-4d46-a6c3-5351456ba8fd"
      unitRef="eur">48000000</tef:Transfersandothersrightofuseassets>
    <tef:Translationdifferencesandhyperinflationrightofuseassets
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtOC0xLTEtNTEwNDQy_a010bc57-659a-4229-82b9-616a60677b42"
      unitRef="eur">28000000</tef:Translationdifferencesandhyperinflationrightofuseassets>
    <ifrs-full:RightofuseAssets
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZToyNzIyNDFkOTFlNmM0YmE4OTg5ZDZhYzY0YmFhODJmMC90YWJsZXJhbmdlOjI3MjI0MWQ5MWU2YzRiYTg5ODlkNmFjNjRiYWE4MmYwXzYtOS0xLTEtNTEwNDQy_72efcc34-b733-46b3-9ead-9291133a1f14"
      unitRef="eur">7579000000</ifrs-full:RightofuseAssets>
    <tef:Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzM5Mw_48232f54-cc5a-46ad-8ac0-cc6ce635da7a"
      unitRef="eur">2439000000</tef:Additionstorightofuseassetsincludingcompaniesheldforsaleandthesaleofcompanies>
    <tef:InclusionOfCompaniesRightOfUseAssets
      contextRef="iece0586bc90b4e56973253ab7debb6f2_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzIwNzI_b5ed59b3-ae1a-4921-8db3-1f88d7d02c90"
      unitRef="eur">105000000</tef:InclusionOfCompaniesRightOfUseAssets>
    <tef:InclusionOfCompaniesRightOfUseAssets
      contextRef="i9cf3a1b1dee54a94932b99725b17960d_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTc0NDU_79639fac-8c37-4b07-8939-848329f72e56"
      unitRef="eur">1000000</tef:InclusionOfCompaniesRightOfUseAssets>
    <tef:InclusionOfCompaniesRightOfUseAssets
      contextRef="i42229b6c19624b0abebb1eb82a0b7dfd_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTc0NDk_6473678b-9d98-4f1a-bd29-fcfbdb112e75"
      unitRef="eur">5000000</tef:InclusionOfCompaniesRightOfUseAssets>
    <tef:InclusionOfCompaniesRightOfUseAssets
      contextRef="i239fd8e83dec41d4b60f02cba4ac2f0c_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzE2NDkyNjc0NDY2NDk_0d8c8736-68a2-4558-a45a-473a6966eb01"
      unitRef="eur">8000000</tef:InclusionOfCompaniesRightOfUseAssets>
    <tef:IncreaseDecreaseInDepreciationRightOfUseAssets
      contextRef="ia9b05ba6b2544d59931cc6db7850d05d_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI0Mzc_3d3bcd53-d297-4c44-8d71-766213481ff8"
      unitRef="eur">17000000</tef:IncreaseDecreaseInDepreciationRightOfUseAssets>
    <tef:IncreaseDecreaseInDepreciationRightOfUseAssets
      contextRef="id656a978ca83450c83e239f0a4c7cc4a_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI0NTU_515e69fc-4f75-4de8-a0ab-0c6bd55483ce"
      unitRef="eur">40000000</tef:IncreaseDecreaseInDepreciationRightOfUseAssets>
    <ifrs-full:RightofuseAssets
      contextRef="i9cf7fdb3eca34ead9fda409db6e18c36_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTk0MzA_db5c7142-9dba-41c2-b48f-c56775f9eb28"
      unitRef="eur">2633000000</ifrs-full:RightofuseAssets>
    <tef:SaleOfDisposalGroupsRightOfUseAssets
      contextRef="i0590d61d5feb427598ae3ba9c52c9aa5_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTk0Mzk_c983175e-c65a-4c06-96bd-9a2d79037fa0"
      unitRef="eur">133000000</tef:SaleOfDisposalGroupsRightOfUseAssets>
    <tef:Transfersandothersrightofuseassets
      contextRef="i210f8f3025ee42dbb1993a6aa24e582e_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzQzOTgwNDY1MTk0NTI_89cb2073-7176-4002-b1a4-03140f8de04b"
      unitRef="eur">36000000</tef:Transfersandothersrightofuseassets>
    <tef:ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5MzA_8cfce724-1967-4a37-a48b-33e7616e5d66">&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The gross cost and accumulated depreciation of the rights of use at December 31, 2022 and 2021 are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:54.471%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.882%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.779%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,923&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,038)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,053&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,923)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,560&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,523)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,037&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(242)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;227&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,005&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,726)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,279&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:54.471%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.882%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.779%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accumulated depreciation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on land and natural properties&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,491&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(698)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;793&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on buildings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,653)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use on plant and machinery&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,003&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(979)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;404&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(203)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total of rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,112&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,533)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,579&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:ScheduleofGrossCostAccumulatedDepreciationandImpairmentLossesofRightofUseAssetsTableTextBlock>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTo0OTI3MDZlOWUzY2E0NjIzOTRkMzlkODk4NDg3ZDk0Mi90YWJsZXJhbmdlOjQ5MjcwNmU5ZTNjYTQ2MjM5NGQzOWQ4OTg0ODdkOTQyXzYtNC0xLTEtNTEwNDQy_2e189737-4789-4acf-b4bd-3aefaca7b340"
      unitRef="eur">7579000000</ifrs-full:RightofuseAssets>
    <tef:ScheduleofExpensesRelatedtoLeasesandIncomefromSubleasingRightofUseAssetsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90ZXh0cmVnaW9uOjY4NGQzOGJiYTMzMzRiMWE5OTg5M2ZiYzk4NjYxYzU4XzI5NDg_8ca95af3-9965-4c09-bbae-7152f4f688b0">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of expenses related to leases included in Supplies and Other expenses (see Note 3.g) of the consolidated income statement for 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.321%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.690%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term leases included in operating results as supplies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Variable lease payments not included in the measurement of lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total expenses as supplies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;41&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term leases included in external services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Leases of low-value assets included in external services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Variable lease payments not included in the measurement of lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total expenses as external services (Note 26)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;86&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total lease expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;125&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;121&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:ScheduleofExpensesRelatedtoLeasesandIncomefromSubleasingRightofUseAssetsTableTextBlock>
    <tef:Expenserelatedtoshorttermleasesincludedinoperatingresultsassupplies
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      unitRef="eur">22000000</tef:Expenserelatedtoshorttermleasesincludedinoperatingresultsassupplies>
    <tef:Expenserelatedtoshorttermleasesincludedinoperatingresultsassupplies
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzEtMi0xLTEtNTEwNDQy_8bf8833b-f105-415b-8387-1ceeb9af3471"
      unitRef="eur">23000000</tef:Expenserelatedtoshorttermleasesincludedinoperatingresultsassupplies>
    <tef:ExpenseRelatedToVariableLeasesNotIncludedInTheMeasurementOfLeaseLiabilities
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      unitRef="eur">17000000</tef:ExpenseRelatedToVariableLeasesNotIncludedInTheMeasurementOfLeaseLiabilities>
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      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzItMi0xLTEtNTEwNDQy_09ac7663-cae1-4f45-8c3d-a602f0a5a1eb"
      unitRef="eur">18000000</tef:ExpenseRelatedToVariableLeasesNotIncludedInTheMeasurementOfLeaseLiabilities>
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      unitRef="eur">39000000</tef:ExpenseRelatedToLeasesIncludedInOperatingResultsAsSupplies>
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      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzMtMi0xLTEtNTEwNDQy_b3887fd1-19c5-45bd-942e-7d3669b5cbc1"
      unitRef="eur">41000000</tef:ExpenseRelatedToLeasesIncludedInOperatingResultsAsSupplies>
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      unitRef="eur">52000000</tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases>
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      unitRef="eur">39000000</tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesshorttermleases>
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      unitRef="eur">8000000</tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzUtMi0xLTEtNTEwNDQy_c10a7dfa-c3c9-4d9d-8e8a-5782a8bed913"
      unitRef="eur">9000000</tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalserviceslowvalueassets>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzYtMS0xLTEtNTEwNDQy_d6a41c22-4972-4be7-b45a-ad90f80b0c62"
      unitRef="eur">26000000</tef:Expenserelatedtoleasesincludedinoperatingresultsasexternalservicesother>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzYtMi0xLTEtNTEwNDQy_3afe409a-5223-4fc5-8bc3-03b4b38dd6d8"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzctMS0xLTEtNTEwNDQy_8d804f9d-ac7c-43ed-81b2-cfdfc52cac6c"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzctMi0xLTEtNTEwNDQy_04c7bd5f-6b5b-4ab6-aaab-4df4dc7b79b7"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzgtMS0xLTEtNTEwNDQy_89f0f9ca-54d3-49d6-9f83-e4d61bb4e727"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDEvZnJhZzo2ODRkMzhiYmEzMzM0YjFhOTk4OTNmYmM5ODY2MWM1OC90YWJsZTozN2IzY2M3NmM2YWU0ZGY1ODgzZmI4NjJkYjY2MmZmNy90YWJsZXJhbmdlOjM3YjNjYzc2YzZhZTRkZjU4ODNmYjg2MmRiNjYyZmY3XzgtMi0xLTEtNTEwNDQy_90410224-0fd7-4800-bcc8-45b251ddd0d8"
      unitRef="eur">121000000</tef:ExpenseRelatedToLeasesIncludedInOperatingResults>
    <ifrs-full:DisclosureOfJointVenturesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg3Mjk_e9940d2d-b63f-497d-a2c0-d04cad74ba1a">Associates and joint ventures&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of investments accounted for by the equity method and the share of income/(loss) of these investments is the following:&lt;/span&gt;&lt;/div&gt;&lt;div style="width:100.000%"&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.491%"&gt;&lt;div style="padding-right:141.73pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.492%"/&gt;&lt;/div&gt;&lt;div style="padding-right:141.73pt"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.549%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.133%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.133%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.138%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Holding&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31/12/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31/12/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VMED O2 UK Ltd&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Prosegur Alarmas&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;252&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FiBrasil Infraestructura e Fibra &#xd3;tica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unsere Gr&#xfc;ne Glasfaser &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(64)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(25)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Jvco Limited (nexfibre)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,522&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;230&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(132)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco, S.L. (Nabiax)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20.00&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adquira Espa&#xf1;a, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44.44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo Infraco SpA. (Onnet Fibra Chile)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo HoldCo S.L. (Onnet Fibra Colombia)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Internet para todos S.A.C&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54.67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring do Brasil, Ltda.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Peru, S.A.C.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Colombia, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring M&#xe9;xico,S.A. de C.V.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Chile, SpA.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Ecuador, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Consumer Finance, Establecimiento Financiero de Cr&#xe9;dito, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Consumer Finance Colombia SAS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;312&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;251&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,587&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,773&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;217&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of the movement in investments accounted for by the equity method in 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;427&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,329&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other comprehensive income (loss)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Loss) income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,773&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;181&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other comprehensive income (loss)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(646)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income (loss)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(920)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,587&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 11, 2022, once the corresponding authorizations from the regulatory authorities were obtained and after the fulfilment of certain agreed conditions, the transaction between Colombia Telecomunicaciones S.A. ESP BIC (Telef&#xf3;nica Colombia) and a Colombian company controlled by Kohlberg Kravis Roberts - KKR (Onnet Fibra Colombia S.A.S) for the sale and purchase of certain fiber assets owned by Telef&#xf3;nica Colombia and for the provision of wholesale connectivity services by Onnet Fibra Colombia S.A.S to Telef&#xf3;nica Colombia, the development of activities of deployment of fiber network, and other associated services, was completed. Telef&#xf3;nica Colombia received, as consideration, 187&#160;million U.S. dollars (approximately 165&#160;million euros at the exchange rate at such date) and 40% of the shares of a Spanish company controlled by KKR, Alamo HoldCo S.L., the sole shareholder of Onnet Fibra Colombia S.A.S. (see Note 30). The gain included in "Other income" in the consolidated income statement for the year 2022 amounted to 162 million euros (see Note 26). Additions for the year 2022 include the fair value assigned to the 40% of the investment in Alamo HoldCo, S.L. amounting to 28 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 24, 2022, Telef&#xf3;nica Infra, S.L. achieved a 20% stake in Daytona Midco S.L. as a result of the agreement reached on May 7, 2021 with Asterion Industrial Partners ("Asterion") for the contribution to Nabiax (a subsidiary of Asterion) of four data centers owned by the Telef&#xf3;nica Group (see Note 29.c). Additions for the year 2022 regarding this transaction amounted to 41 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additions for the year 2022 also includes the capital increase of 50 million euros at Unsere Gr&#xfc;ne Glasfaser (27 million euros in 2021, see Note 28).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;On July 29, 2022, Telef&#xf3;nica, Liberty Global and InfraVia (see Note 29.c.) reached an agreement for the establishment of a joint venture, "nexfibre", for the deployment of fiber-to-the-home (FTTH) in the United Kingdom. Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and Telef&#xf3;nica participate by halves in a joint vehicle that holds a 50% interest in nexfibre, with InfraVia owning the remaining 50%.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Translation differences and other comprehensive income (loss)" for the year 2022 mainly includes the impact of the pound sterling depreciation associated with the investment in VMO2, amounting to 627 million euros and the results of the defined benefit pension plan in VMO2 amounting to 106 million euros. This also includes gains imputed to equity on derivatives financial instruments in Unsere Gr&#xfc;ne Glasfaser amounting to 69 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In June, September and December 2022, dividends of 125 million pounds sterling (equivalent to 146 million euros) 290 million pounds sterling (equivalent to 324 million euros) and 385 million pounds sterling (equivalent to 439 million euros), respectively, were received from VMED O2 UK Ltd. In December 2021, a dividend was received from VMED O2 UK Ltd for an amount of 161 million pounds sterling (equivalent to 187 million euros, see Note 28).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;Additions for the year 2021 mainly includes the fair value of the 50% stake in VMO2 at the date of incorporation, which amounts to 12,012 million euros (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;In July 2021, the sale transaction of 60% of the shares of Infraco, SpA was completed. In 2021 additions, the value of the shareholding after the operation is included, amounting to 75 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;Additionally, the value of the 50% stake in Fibrasil at the date of the transaction amounting to 73 million euros is included in additions for the year 2021.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;In July 2021, the partial closing of the transaction with Asterion took place, Telef&#xf3;nica obtained 13.94% of the company Daytona Midco S.L. and its subsidiary Digital Data Center Bidco, S.L.U. (Nabiax), registering 81 million euros in additions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="width:100.000%"&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.491%"&gt;&lt;div style="margin-top:5pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;VMED O2 UK&lt;/span&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.492%"/&gt;&lt;/div&gt;&lt;div style="margin-top:5pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;Main assumptions used in the initial fair value calculation&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The fair value calculation for VMED O2 UK Ltd at the time of its constitution was based on a discounted cash flows valuation, using the methods of multiples of comparable companies and multiples of transactions as a cross-check. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The valuation emanated from the business plan of the joint venture for the 2021-2023 period that resulted from the aggregation of the individual business plans of O2 and Virgin Media approved by Telef&#xf3;nica and Liberty Global, respectively, extended to 2030, and the synergies plan prepared by the strategy teams of both groups. The following is a description of the main variables considered in the fair value calculation, according to the primary method:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt"&gt;Revenues&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: the valuation scenario assumed growth rates between 0% and 3% over the period, in line with the estimations of analysts and supported in the revenues synergies expected for the transaction. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:18pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt"&gt;EBITDA margin&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: the forecasted EBITDA (operating income before depreciation and amortization) was based on the stand-alone plans, The normalized margin (post-IFRS 16, i.e., before amortization of rights of use), adjusted to consider the impact of annual payments of spectrum licenses once expired, was in the range of 36% to 40%.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:18pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt"&gt;Synergies&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: were considered taking into account management&#x2019;s analysis performed at the individual workstream level and benchmarked with analyst estimates of probability of achievement. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:18pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt"&gt;Long-term capital expenditure ratio&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: it was expected to be in a range of 16% to 22% (including CapEx and rights of use additions), aligned with the historical level of comparable companies.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:18pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:32.5pt"&gt;The &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;discount rate&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; applied to the cash flow projections was the weighted average cost of capital (WACC), the expected return appropriate for the expected risk level. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:18pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;A modified version of the Capital Asset Pricing Model (&#x201c;CAPM&#x201d;) was used to estimate the required return on equity. To relever the beta it was considered the intrinsic leverage of the joint venture. In addition, it was considered a specific premium or alpha, which captures additional risks considered at the time of incorporation in relation to the likelihood of realization of synergies and the execution risk of the combined business plan. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For the cost of debt, in line with the leverage assumption considered, the bonds issued by the joint venture were analysed and their spreads were compared to a comparable risk free rate (with a similar maturity, in the same currency and issued in the same country, so that there was not distortion due to the risk premia by country). A return after taxes was used because the interests on the financial debt are tax deductible. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In conclusion, the discount rate applied for the valuation was 6.9%.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:32.5pt"&gt;Perpetuity growth rate&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: revenues from 2028 were normalized to the perpetuity growth rate (g), considering the analysts' consensus for the companies of the sector in the United Kingdom, contrasting with the estimations of long-term inflation rates and with the assumptions made by companies of the sector in their impairment tests. The perpetuity growth rate considered was 1.0%.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;Impairment test as at December 31, 2022&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group has performed an impairment analysis of the investment in VMO2 at the end of the year. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2022 has been a challenging year for the United Kingdom. In addition to higher inflation due to external factors (rising energy prices, supply chain problems and food prices) and domestic factors (very dynamic labour market), interest rates have risen, which has had a negative impact on the disposable income of households and businesses. This was followed after the summer by an episode of high financial volatility as a result of inconsistent fiscal policy decisions. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Despite the difficult macroeconomic context VMO2 has delivered its set guidance and made strong strategic and operational progress throughout the year. The company introduced new products, like TV Stream and Switch up and continues to drive fixed mobile convergence with its VOLT product. VMO2 delivered synergies according to its plan and the fixed footprint reached 16.1 million premises passed, meeting the full year build targets. In mobile, it expanded 5G services to more than 1,600 towns and cities, on-track to deliver 5G services to 50% of the UK population in 2023.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, on December 15, 2022, Telef&#xf3;nica Infra, Liberty Global and InfraVia Capital Partners entered into a joint venture (see Note 29.c) which will deploy fibre to the home (FTTH) to 5 million homes in the UK not currently served by VMO2's network, with the possibility of expansion to an additional 2 million homes. The fibre network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the anchor tenant, as well as providing a range of technical services.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As a result of the analysis performed, the Group has concluded that as at December 31, 2022 the value in use continues to exceed the carrying value of the investment, although the headroom has been reduced. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The discount rate used to calculate the value in use at December 31, 2022 has increased from 6.9% to 7.3% due to the macroeconomic tensions in the UK and despite the downward revision, more than 20 months after the establishment of the joint venture, of the specific premium (alpha) considered in the calculation of the initial fair value. The perpetuity growth rate has been maintained at the 1% used in the initial valuation, which is below the real terminal growth forecast for the UK economy and despite higher inflation in the medium-term than assumed in the initial scenario.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the sensitivity of the calculation to reasonably possible variations in key assumptions:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;An increase of about 18 basis points over the WACC rate used of 7.3%, or a decrease of around 22 basis points in the perpetuity growth rate (1%), would result in the value in use being equal to the carrying value.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;Regarding the operating variables used, which are within the ranges considered in the calculation of the initial fair value, a decrease of around 1 percentage point in the EBITDA margin, or an increase of around 1.1 percentage points in the long-term investment ratio would also equalize the value in use with the carrying value.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The values of operating variables included in the valuation are within the ranges expected by analysts for comparable companies in the region.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Detail of the main items on the statements of financial position and income statements of VMED O2 UK Ltd&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.274%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.712%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.714%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,280&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;48,779&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,782&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,554&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;555&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;415&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;50,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;52,333&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,840&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,593&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,185&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;885&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other non current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;523&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,786&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,605&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,248&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;221&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;219&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,317&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,545&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28,626&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28,198&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Equity (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,436&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,135&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50% Telef&#xf3;nica Group&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,718&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,068&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisition costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,779&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,129&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:64.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.590%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.421%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;January - December 31 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;June 1 - December 31 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,155&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;551&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;290&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operating expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,305)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,063)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,450&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,395)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;231&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;55&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(504)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"&gt;Realised and unrealised gains on derivative instruments, net &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,567&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;489&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Foreign currency transaction losses, net&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net financial expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result before taxation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;507&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(300)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result for the period (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;492&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(235)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50% attributable to Telef&#xf3;nica Group&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;246&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Share-based compensation &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other comprehensive income (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(113)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;68&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;VMO2  entered into various derivative instruments to manage interest rate exposure and foreign currency exposure. Generally, VMO2 does not apply hedge accounting to its derivative instruments. Accordingly, changes in the fair values of most of its derivatives are recorded in the finance results of its consolidated income statement.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;Amount related to incentive awards held by certain employees of VMO2 associated with ordinary shares of Liberty Global and Telef&#xf3;nica. Share-based compensation expense is included in Operating expenses in the consolidated income statement of VMO2.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;Commitments &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.596%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.324%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.324%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.566%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.172%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.718%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.657%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.843%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Purchase commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;154&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,504&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Programming commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;698&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;606&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;446&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;437&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;413&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;204&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,804&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Network and connectivity commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;82&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;265&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;266&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,294&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total commitments VMO2 (100%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,054&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;856&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;787&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;617&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,877&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Purchase commitments include unconditional and legally binding obligations related to the purchase of customer premises and other equipment and certain service-related commitments, including call center, information technology and maintenance services.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Programming commitments consist of obligations associated with programming contracts that are enforceable and legally binding that includes minimum fees.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Network and connectivity commitments include service commitments associated with the network extension program in the U.K. and commitments associated with the mobile virtual network operator (MVNO) agreements.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the date of closing of the transaction, Telef&#xf3;nica and Liberty Global entered with VMO2 into certain service agreements, either on a transitional or ongoing basis. Likewise, Telef&#xf3;nica licensed the use of Telef&#xf3;nica and O2 brand rights to VMO2 (see Note 29.c). &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of balances and transactions related to associates and joint ventures recognized with VMO2 in the consolidated statement of financial position and consolidated income statement is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:74.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.034%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.036%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures for current operations &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;259&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:11pt"&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenue from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Expenses from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Payables to associates and joint ventures" includes the obligation at December 31, 2021 in relation to the O2 UK pension plans arising as a result of the constitution of VMED O2 UK Ltd. amounting to 213 million pounds sterling (253 million euros at closing exchange rate of 2021, see Note 22) and that it has been paid in 2022 (see Note 28).  &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:5pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;Movistar Prosegur Alarmas&lt;/span&gt;&lt;/div&gt;&lt;div style="width:100.000%"&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.491%"&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.492%"/&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In July 2021 Movistar Prosegur Alarmas, S.L. (formerly Prosegur Alarmas Espa&#xf1;a, S.L.) acquired 100% of Prosegur Soluciones, S.A.U.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of the key financial highlights of Movistar Prosegur Alarmas group 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:&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.976%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.205%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;352&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(346)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(202)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Purchase price allocation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;146&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;108&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;% Holding&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Group&#x2019;s share in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;54&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;65&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Carrying amount in the Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;252&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;263&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:5pt;margin-top:5pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;FiBrasil&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On March 2, 2021, Telef&#xf3;nica Brasil, S.A. ("Vivo") and Telef&#xf3;nica Infra, S.L., infrastructures unit of Telef&#xf3;nica&#xb4;s Group ("T. Infra"), reached an agreement with Caisse de d&#xe9;p&#xf4;t et placement du Quebec ("CDPQ") for the construction, development and operation of a fiber (FTTH) network in Brazil, in mid-sized cities outside the State of Sao Paulo, through a joint venture entity, FiBrasil Infraestructura e Fibra &#xd3;tica S.A. ("FiBrasil"). On July 2, 2021, once the pertinent authorizations were obtained, the transaction closed, in wich Telef&#xf3;nica Group and CDPQ each held 50% in FiBrasil under a co-control governance model. Telef&#xf3;nica Group participation is distributed equally between Vivo and T.Infra.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The terms of the transaction encompass a total investment by CDPQ of up to 1,800 million reals (approximately 267 million euros at the date of the agreement), comprising payments to both Vivo and FiBrasil, for 50% stake in FiBrasil and also certain payments to be made by T. Infra in the equivalent economic terms, for a 25% stake in FiBrasil. CDPQ&#xb4;s capital contributions, in addition to expected leverage to be raised by the joint venture, will provide a fully funded business plan to accomplish FiBrasil&#xb4;s deployment targets.&lt;/span&gt;&lt;/div&gt;&lt;div style="width:100.000%"&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.491%"&gt;&lt;div style="margin-bottom:5pt;margin-top:5pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;Breakdown of balances and transactions with associates and joint ventures&lt;/span&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.492%"/&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.248%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Credits and other financial assets from associates and joint ventures&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;228&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures  (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term contractual liabilities to associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;82&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;93&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;272&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term contractual liabilities to associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other short-term liabilities to associates and joint ventures (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.611%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.472%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.000%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.558%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.472%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.000%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.558%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.767%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.000%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenue from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;251&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;255&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Expenses from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;315&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;122&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial revenues with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;28&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Credits and other financial assets from associates and joint ventures" at December 31, 2022 includes 82 million euros of loans and 59 million euros of trade receivables granted by Colombia Telecomunicaciones, S.A. ESP BIC to the associate company &#xc1;lamo Holdco, S.L. and it subsidiary Onnet Fibra Colombia S.A.S., respectively. Additionally, this line includes 75 million euros corresponding to the subordinated debt granted by Telef&#xf3;nica Chile to the associate company HoldCo Infraco, SpA. generated by the sale of 40% of the fiber optic business (87 million euros as of December 31, 2021, see Note 12).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Long-term contractual liabilities to associates and joint ventures" at December 31, 2022 includes 82 million euros corresponding to Colombia Telecomunicaciones, S.A. ESP BIC with the associate company Onnet Fibra Colombia, S.A.S.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Revenue from operations with associates and joint ventures" in 2022 mainly includes 88 million euros corresponding to the transactions of the Group with the associate company HoldCo Infraco SpA (52 million euros in 2021) and 97 million euros with the associate company Onnet Fibra Colombia, S.A.S. In 2021 it included 98 million euros corresponding to the transactions of the Group with the joint venture Tesco Mobile Ltd. from January 1, to the date of the incorporation of VMED O2 UK (232 million euros in 2020).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Expenses from operations with associates and joint ventures" in 2022 mainly includes 121 million euros corresponding to the transactions of the Group with the associate company HoldCo Infraco SpA (50 million euros in 2021) and 39 million euros with the associate company &#xc1;lamo Holdco, S.L.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfJointVenturesExplanatory>
    <ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg2ODU_e50df71c-0499-4ef3-aa4b-430cb40cbb5e">&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of investments accounted for by the equity method and the share of income/(loss) of these investments is the following:&lt;/span&gt;&lt;/div&gt;&lt;div style="width:100.000%"&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.491%"&gt;&lt;div style="padding-right:141.73pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="display:inline-block;max-width:7.017%;min-width:6.017%;vertical-align:top"/&gt;&lt;div style="display:inline-block;vertical-align:top;width:46.492%"/&gt;&lt;/div&gt;&lt;div style="padding-right:141.73pt"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.549%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.133%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.133%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.138%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Holding&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31/12/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31/12/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VMED O2 UK Ltd&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,779&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Prosegur Alarmas&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;252&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FiBrasil Infraestructura e Fibra &#xd3;tica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unsere Gr&#xfc;ne Glasfaser &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(64)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(25)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Jvco Limited (nexfibre)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,522&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;230&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(132)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco, S.L. (Nabiax)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20.00&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adquira Espa&#xf1;a, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44.44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo Infraco SpA. (Onnet Fibra Chile)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo HoldCo S.L. (Onnet Fibra Colombia)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Internet para todos S.A.C&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54.67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring do Brasil, Ltda.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Peru, S.A.C.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Colombia, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring M&#xe9;xico,S.A. de C.V.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Chile, SpA.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Ecuador, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Consumer Finance, Establecimiento Financiero de Cr&#xe9;dito, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Consumer Finance Colombia SAS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;312&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;251&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,587&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,773&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;217&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of the movement in investments accounted for by the equity method in 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;427&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,329&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other comprehensive income (loss)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Loss) income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,773&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;181&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other comprehensive income (loss)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(646)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income (loss)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(920)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,587&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory>
    <ifrs-full:ProportionOfOwnershipInterestInJointVenture
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzItMS0xLTEtNTEwNDQy_33bb14b3-4b2b-43a5-aca6-a4e9e75cad56"
      unitRef="number">0.50</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
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      unitRef="eur">10779000000</ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod>
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      unitRef="eur">12129000000</ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod>
    <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzItNC0xLTEtNTEwNDQy_948cc4d8-43a7-40fe-9555-d37bd90fb9a0"
      unitRef="eur">292000000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
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      unitRef="eur">0</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
    <ifrs-full:ProportionOfOwnershipInterestInJointVenture
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzMtMS0xLTEtNTEwNDQy_ded33da0-9428-4228-b0ff-af0937c110a5"
      unitRef="number">0.50</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
    <ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZToyYjc1YWZlNTg1NTk0YjYyODJmOGMwNjM5MTY5N2Y1Ny90YWJsZXJhbmdlOjJiNzVhZmU1ODU1OTRiNjI4MmY4YzA2MzkxNjk3ZjU3XzMtMi0xLTEtNTEwNDQy_e56b5e00-035d-4ddf-8dc5-7ebd7e5da83f"
      unitRef="eur">252000000</ifrs-full:InvestmentsInJointVenturesAccountedForUsingEquityMethod>
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    <tef:PercentageOfVotingEquityTransferedAsConsideration
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzkyOQ_2276d199-4ec3-4320-ad34-6491b0936aff"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzIzODY_60f67c11-785f-49b8-bf4f-e83914ed4860"
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    <tef:ValuationAssumptionRevenueGrowthRatePercentage
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzIzOTQ_45f6cc22-dea3-471c-8359-96c123f07930"
      unitRef="number">0.03</tef:ValuationAssumptionRevenueGrowthRatePercentage>
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      decimals="2"
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    <tef:ValuationAssumptionEBITDAMarginPercentage
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzI2NDg_327a7f33-0637-4cc5-a1b6-746a5dd3d142"
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    <tef:ValuationAssumptionLongTermCapitalExpenditureRatioPercentage
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzMwMTY_d3f41e52-a9d2-4f03-8640-ba3e9a1744be"
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    <tef:ValuationAssumptionLongTermCapitalExpenditureRatioPercentage
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzMwMjI_def747b9-a386-4ec7-86d4-a7389ab7ff4b"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzQwMzY_c0b2d4ae-e292-4670-82ed-7a14bcdeeb65"
      unitRef="number">0.069</tef:ValuationAssumptionDiscountRatePercentage>
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      decimals="3"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzQ0MTE_37dd15e4-62ed-4bd6-9fd7-4445e68d4135"
      unitRef="number">0.010</tef:ValuationAssumptionPerpetuityGrowthRatePercentage>
    <tef:NumberOfPremisesPassed
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      decimals="-5"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTQ1_3b81ecab-ac28-4aff-9e77-0c10c1e24107"
      unitRef="premise">16100000</tef:NumberOfPremisesPassed>
    <tef:NumberOfCitiesWith5GNetwork
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      decimals="-2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTM4_be27a73c-41b7-482e-9a1c-4165ae8b8721"
      unitRef="city">1600</tef:NumberOfCitiesWith5GNetwork>
    <tef:PercentageOfPopulationCoveredIn5GNetwork
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTU1_98c4d3b6-20a8-4856-b164-cac14ff297da"
      unitRef="number">0.50</tef:PercentageOfPopulationCoveredIn5GNetwork>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTEz_d082f09b-89b5-45c9-b8de-1afa5acd8b8c"
      unitRef="home">5000000</tef:NumberOfPremisesCoveredByFiberOptic>
    <tef:NumberOfAdditionalPossiblePremisesCoveredByFiberOptic
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDUzNTE2_ca2956f9-3c29-4fb4-83a4-2d6f1a084f39"
      unitRef="home">2000000</tef:NumberOfAdditionalPossiblePremisesCoveredByFiberOptic>
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      decimals="3"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDYxNDUz_c0b2d4ae-e292-4670-82ed-7a14bcdeeb65"
      unitRef="number">0.069</tef:ValuationAssumptionDiscountRatePercentage>
    <tef:ValuationAssumptionDiscountRatePercentage
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      decimals="3"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2MzM3_52252e53-83a3-4b1e-b83f-c06829fbd933"
      unitRef="number">0.073</tef:ValuationAssumptionDiscountRatePercentage>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2MzQz_8f25dc30-0650-4d92-8e15-a2f0b85de604"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE2NDkyNjc0NDYyMDI2_003ebe62-e535-4e29-82b7-ca919b299b8a"
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      decimals="3"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzE1OTQyOTE4NjQ2NzY2_1b2debfb-61ca-488d-904d-1917c28f0e65"
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      unitRef="number">1</tef:ValuationAssumptionIncreaseDecreaseInEBITDAMargin>
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      unitRef="number">0.011</tef:ValuationAssumptionIncreaseDecreaseInLongTermInvestmentRatio>
    <tef:DisclosureOfStatementOfFinancialPositionAndIncomeStatementOfJointVenturesTableTextBlock
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg3MzE_6a44115e-5c9f-4f11-b991-78f36cf81c34">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Detail of the main items on the statements of financial position and income statements of VMED O2 UK Ltd&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.274%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.712%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.714%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,280&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;48,779&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,782&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,554&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;555&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;415&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;50,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;52,333&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,840&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,593&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,185&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;885&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other non current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;523&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,786&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,605&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,248&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;221&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;219&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,317&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,545&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28,626&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28,198&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Equity (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,436&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,135&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50% Telef&#xf3;nica Group&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,718&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,068&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisition costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,779&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,129&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:64.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.590%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.421%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;January - December 31 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;June 1 - December 31 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,155&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;551&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;290&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operating expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,305)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,063)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,401&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,450&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,395)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;231&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;55&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(504)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"&gt;Realised and unrealised gains on derivative instruments, net &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,567&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;489&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Foreign currency transaction losses, net&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net financial expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(355)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result before taxation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;507&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(300)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Result for the period (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;492&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(235)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50% attributable to Telef&#xf3;nica Group&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;246&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Share-based compensation &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Share of income (loss) of investments accounted for by the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other comprehensive income (100% VMO2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(113)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;68&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;VMO2  entered into various derivative instruments to manage interest rate exposure and foreign currency exposure. Generally, VMO2 does not apply hedge accounting to its derivative instruments. Accordingly, changes in the fair values of most of its derivatives are recorded in the finance results of its consolidated income statement.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:100%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;Amount related to incentive awards held by certain employees of VMO2 associated with ordinary shares of Liberty Global and Telef&#xf3;nica. Share-based compensation expense is included in Operating expenses in the consolidated income statement of VMO2.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;The breakdown of the key financial highlights of Movistar Prosegur Alarmas group 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:&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.976%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.205%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;352&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(346)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(202)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Purchase price allocation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;146&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;108&lt;/span&gt;&lt;span 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Group&#x2019;s share in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid 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style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Carrying amount in the Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;252&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg2NjM_3945a7ce-81e3-456e-82bf-0d4132625b54">&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.596%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.324%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.324%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.566%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.172%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.718%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.657%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.843%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Purchase commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;154&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,504&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Programming commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;698&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;606&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;446&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;437&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;413&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;204&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,804&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Network and connectivity commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;82&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,275&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;265&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;266&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,294&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total commitments VMO2 (100%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,054&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;856&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;787&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;617&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,877&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureOfPurchaseCommitmentsTableTextBlock>
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      unitRef="eur">1106000000</ifrs-full:CommitmentsInRelationToJointVentures>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg3NzA_7384e395-9327-449d-abd7-851530d19cef">&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of balances and transactions related to associates and joint ventures recognized with VMO2 in the consolidated statement of financial position and consolidated income statement is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:74.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.034%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.036%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures for current operations &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;259&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:11pt"&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenue from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Expenses from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.25pt solid #86888c;border-top:0.25pt solid #86888c;padding:2px 0 2px 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzktMS0xLTEtNTEwNDQy_1f0ab339-47c5-4e47-97ca-e9a0ab8c093d"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzExLTEtMS0xLTc1NjMwMQ_fdd47725-066f-4507-bf5d-9b48342cfb96"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzExLTEtMS0xLTUxMDQ0Mg_61e78905-f1b3-438f-8719-75a75bcbcb7e"
      unitRef="eur">198000000</ifrs-full:Goodwill>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzEyLTEtMS0xLTc1NjMwMQ_2bb7e336-2525-4d99-8079-eb6555b5ae89"
      unitRef="eur">252000000</ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod>
    <ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90YWJsZTozY2MwZmE2MjFlYWE0MDI2OWFlNzlmMDQ4MjliMWUyNy90YWJsZXJhbmdlOjNjYzBmYTYyMWVhYTQwMjY5YWU3OWYwNDgyOWIxZTI3XzEyLTEtMS0xLTUxMDQ0Mg_3414960c-3adb-4515-9e6f-4d474cd3dc36"
      unitRef="eur">263000000</ifrs-full:InvestmentsInAssociatesAccountedForUsingEquityMethod>
    <ifrs-full:ProportionOfOwnershipInterestInJointVenture
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzcyNjY_7137a5d8-d6a9-4bad-983f-ef4cba701ccf"
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzc0NzM_9da7889a-8317-4a31-9b0b-d45222948541"
      unitRef="brl">1800000000</ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzc1MDQ_2f121d58-8890-41f7-ab05-f93b0a966573"
      unitRef="eur">267000000</ifrs-full:PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzc2MDM_3c86282b-1428-4b4f-8cf1-1360a532c213"
      unitRef="number">0.50</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzc3MTM_c6aec89e-164b-48a9-ad30-d391ca35ac48"
      unitRef="number">0.25</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
    <tef:DisclosureOfStatementOfFinancialPositionAndIncomeStatementOfAssociatesAndJointVenturesTableTextBlock
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMDQvZnJhZzoyZGMzYTk2OWU1NDM0OGE3YWExMmE1YjgyNmU5MWE2ZS90ZXh0cmVnaW9uOjJkYzNhOTY5ZTU0MzQ4YTdhYTEyYTViODI2ZTkxYTZlXzg2OTM_5abf4e53-7cda-4a56-b959-04bbbba9cce6">&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.248%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.675%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="background-color:#ffffff;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Credits and other financial assets from associates and joint ventures&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;228&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures  (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term contractual liabilities to associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;82&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;93&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;272&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term contractual liabilities to associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other short-term liabilities to associates and joint ventures (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.611%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.472%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.000%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.558%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.472%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.000%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.558%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.767%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.000%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenue from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;251&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;328&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;255&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Expenses from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;315&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;122&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial revenues with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;28&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureOfStatementOfFinancialPositionAndIncomeStatementOfAssociatesAndJointVenturesTableTextBlock>
    <tef:LongTermCreditsToAssociatesAndJointVentures
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      decimals="-6"
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      unitRef="eur">217000000</tef:LongTermCreditsToAssociatesAndJointVentures>
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      contextRef="i831fce10d4d84cec8445423209937994_I20221231"
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      unitRef="eur">11000000</tef:LongTermCreditsToAssociatesAndJointVentures>
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(BBVA), CaixaBank, S.A. and BlackRock, Inc.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Based on the information provided by CaixaBank, S.A. for the 2022 Annual Report Corporate Governance, as updated per share capital of Telef&#xf3;nica, S.A. as of December 31, 2022, the shareholding of CaixaBank, S.A. in Telef&#xf3;nica&#x2019;s share capital were 3.50%. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Based on the information provided by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) for the 2022 Annual Report on Corporate Governance, as updated per share capital of Telef&#xf3;nica, S.A. as of December 31, 2022, the shareholding of BBVA in Telef&#xf3;nica&#x2019;s share capital were 4.87%. Likewise, and according to the aforementioned information provided by BBVA, the percentage of economic rights attributed to Telef&#xf3;nica, S.A. shares owned by BBVA amounts to 4.97% of the Company's share capital. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Based on the information notified by BlackRock, Inc to the CNMV on March 31, 2020, as updated per the share capital of Telef&#xf3;nica, S.A. as of December 31, 2022, the shareholding of BlackRock, Inc in Telef&#xf3;nica&#x2019;s share capital were 4.48%. Based on the Schedule 13G/A filed with the SEC, on October 7, 2022, BlackRock, Inc. beneficially owned 4.96% of Telef&#xf3;nica, S.A. shares and 4.49% of voting rights.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;During 2022 and 2021, the Group carried out no significant transactions with BlackRock, Inc. other than the corresponding dividends paid. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following is a summary of significant transactions between the Telef&#xf3;nica Group and BBVA and CaixaBank companies, other than the payment of the dividend corresponding to its shareholding. All transactions were carried out at market prices.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%"&gt;Participated companies&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On November 20, 2020, Telef&#xf3;nica Digital Espa&#xf1;a, S.L.U. and Compa&#xf1;&#xed;a Chilena de Inversiones, S.L., an affiliated company of BBVA, entered into an agreement related to the incorporation of a subsidiary in Colombia with the aim of commercializing loans to consumers and SME in such country. On January 5, 2021, this company was incorporated as a 50/50 joint venture between the two companies, under the name Movistar Consumer Finance Colombia, S.A.S (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The Telef&#xf3;nica Group holds a 50% interest in Telef&#xf3;nica Consumer Finance, E.F.C., S.A., a company controlled by CaixaBank (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The Telef&#xf3;nica Group and BBVA each hold a 44.44% interest in the joint venture Adquira Espa&#xf1;a, S.A. (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The Telef&#xf3;nica Group has a 50% interest in Telef&#xf3;nica Factoring Espa&#xf1;a and its subsidiaries in Brazil, Peru, Colombia, Mexico, Chile and Ecuador, accounted for by the equity method (see Note 10), in which BBVA and CaixaBank have minority interests.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;On July 21, 2022, Telef&#xf3;nica, S.A. and CaixaBank Payments and Consumer E.F.C., E.P., S.A. incorporated the company Telef&#xf3;nica Renting, S.A. 50% each. This company is controlled by CaixaBank.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The balances as of December 31, 2022 and 2021, and the transactions carried out in 2022 and 2021 of Telef&#xf3;nica Group companies with the aforementioned associates and joint ventures in which BBVA and CaixaBank hold interests are shown below:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.765%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.467%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures for current operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.467%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.322%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenue from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Expenses from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance cost from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%"&gt;Derivatives&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The net fair value of the outstanding derivatives as of December 31, 2022 contracted with BBVA and CaixaBank amounts to 185 and 41 million euros, respectively (314 and 26 million euros, respectively, as of December 31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The nominal value of these derivatives amounted to 5,778 and 264 million euros, respectively (6,664 million euros with BBVA and 264 million euros with CaixaBank in 2021). As explained in the 'Derivatives policy' section of Note 19, this volume is so high because derivatives can be applied several times to the same underlying asset for an amount equal to its face value. As of December 31, 2022, the derivatives contracted with BBVA and CaixaBank account for approximately 7% of the total amount of outstanding derivatives contracted by the Group with external counterparties (see Note 19).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;Additionally, at December 31, 2022, collateral guarantees on derivatives from BBVA and CaixaBank have been received, amounting to 236 million euros and 43 million euros, respectively (262 million euros and 21 million euros respectively at December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%"&gt;Renting operations with CaixaBank&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;In mid-2021, a new Fusion portfolio came into force that included a rental device. The Group has an agreement with CaixaBank to in turn rent these devices (a model known as "rent to rent"), covered by a framework financing agreement previously formalized between Telef&#xf3;nica and CaixaBank. In 2022, the volume of these operations with CaixaBank amount to 405 million euros (186 million euros in 2021) which have involved 19 million euros in financial expenses.  As of December 31, 2022, the balance of the account payable to CaixaBank amounted to 501 million euros (176 million euros as of December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;Likewise, the Group carries out other equipment rental operations with CaixaBank (equipment at customers' homes, such as routers or decoders). In 2022, the volume of this equipment leasing transactions was 82 million euros (92 million euros in 2021), with financial expenses amounting to 3 million euros (1 million euros in 2021). As of December 31, 2022, the debt with CaixaBank for these concepts amounts to 119 million euros (73 million euros in 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%"&gt;Other operations&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The impact on the consolidated income statement of the Telef&#xf3;nica Group of the rest of the operations with BBVA and CaixaBank in 2022 and 2021 is shown below:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;BBVA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receipt of services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Purchase of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends received &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;83&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;53&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&#160; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%"&gt;At&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%"&gt;December 31, 2022, Telef&#xf3;nica held a 0.73% stake (0.66% stake at December 31, 2021) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 12).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CaixaBank&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receipt of services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Purchase of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;73&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;69&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;122&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;151&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The following table shows the balance sheet positions of these operations as of December 31, 2022 and 2021, as well as the current guarantees and other off-balance sheet positions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;BBVA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans, capital contributions and others (borrower)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;155&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans and capital contributions (lender)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Factoring operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;147&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CaixaBank&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans, capital contributions and others (borrower)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;145&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans and capital contributions (lender)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;82&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Factoring operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;28&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;160&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;190&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%"&gt;Other related parties &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The most significant balances and transactions with associates and joint ventures are detailed in Note 10.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;During 2022 and 2021, the Directors and senior executives performed no transactions with Telef&#xf3;nica, S.A. or any Telef&#xf3;nica Group company other than those in the Group&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;Telef&#xf3;nica contracted a civil liability insurance scheme (D&amp;amp;O) for Directors, managers and staff with similar functions in the Telef&#xf3;nica Group, with standard conditions for these types of insurance and a premium attributable to 2022 of 6,598,467 euros &lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;(&lt;/span&gt;5,303,931 euros in 2021). This scheme provides coverage for Telef&#xf3;nica, S.A. and its subsidiaries in certain cases.</ifrs-full:DisclosureOfRelatedPartyExplanatory>
    <ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests
      contextRef="ic47ac4c2a0464597b1b97ebe984a1b38_D20220101-20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xNTM5MzE2Mjc5OTUxNw_523d2610-9ded-4006-bb9e-c72ed0019b2f"
      unitRef="number">0.0350</ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests>
    <ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests
      contextRef="i38da716dbffc4ce3ade3ea5d9a384ec3_D20220101-20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xNTM5MzE2Mjc5OTUzMg_5b4ae08a-54e4-4e10-b32a-912f1f374493"
      unitRef="number">0.0487</ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests>
    <tef:ProportionOfOwnershipSharesHeld
      contextRef="i38da716dbffc4ce3ade3ea5d9a384ec3_D20220101-20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8xNTM5MzE2Mjc5OTUzOQ_699fe8e2-8e05-4d44-87c5-babf1de6e94e"
      unitRef="number">0.0497</tef:ProportionOfOwnershipSharesHeld>
    <ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests
      contextRef="i5c6a7c9f21ed41dbaa649ef8421d6550_D20220101-20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MDA5NQ_9af02fef-3dbd-43f1-b5e7-521b1abe7531"
      unitRef="number">0.0448</ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests>
    <tef:ProportionOfOwnershipSharesHeld
      contextRef="i2517945a4ef94e3cb94e5a29c48f6b28_D20221007-20221007"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MDEwMg_df2add42-e44c-4bed-9c9d-cf988ce55e86"
      unitRef="number">0.0496</tef:ProportionOfOwnershipSharesHeld>
    <ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests
      contextRef="i2517945a4ef94e3cb94e5a29c48f6b28_D20221007-20221007"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MDEwOQ_d272f4fb-e2d0-4f72-a995-8d42680cc0ba"
      unitRef="number">0.0449</ifrs-full:ProportionOfOwnershipInterestsHeldByNoncontrollingInterests>
    <ifrs-full:ProportionOfVotingRightsHeldInJointVenture
      contextRef="ie281461c11ac4d6da598b628038fc4fb_D20210105-20210105"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA0Nw_59f2be32-3899-43c5-9bcd-b1b882a30a60"
      unitRef="number">50</ifrs-full:ProportionOfVotingRightsHeldInJointVenture>
    <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary
      contextRef="i98d3f6a733704896868aa41b67463918_D20220101-20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA1MQ_96307e73-446d-4772-8c5d-9082d9ce9f0a"
      unitRef="number">0.50</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
    <ifrs-full:ProportionOfOwnershipInterestInJointVenture
      contextRef="i2cb4e3215cee4174835fe18582627cde_D20220101-20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA1Ng_0a37ca15-f230-4cda-8226-9d07fbad8cc0"
      unitRef="number">0.4444</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
    <ifrs-full:ProportionOfOwnershipInterestInJointVenture
      contextRef="idcbb79463035485eb156e110f0bfd948_D20220101-20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA1Ng_af86acf7-cf25-4b70-892c-fd75df9af17e"
      unitRef="number">0.4444</ifrs-full:ProportionOfOwnershipInterestInJointVenture>
    <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary
      contextRef="i7b22c9db486c4649b20b22325024129a_D20220101-20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA2NA_a18c22f4-d4fe-449a-95c6-f87c43eb517c"
      unitRef="number">0.50</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
    <ifrs-full:ProportionOfVotingPowerHeldInSubsidiary
      contextRef="icf5fec259717427396036b0f69676f80_D20220721-20220721"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTA2OQ_f12fa490-b7be-4776-a38b-f01ae00504c9"
      unitRef="number">0.50</ifrs-full:ProportionOfVotingPowerHeldInSubsidiary>
    <ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yNzQ4Nzc5MDgxNDQw_c35f8540-6fa2-4257-8de3-ab0679989b81">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The balances as of December 31, 2022 and 2021, and the transactions carried out in 2022 and 2021 of Telef&#xf3;nica Group companies with the aforementioned associates and joint ventures in which BBVA and CaixaBank hold interests are shown below:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.765%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.467%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures for current operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.467%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.322%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenue from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Expenses from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance cost from operations with associates and joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #b4b9c5;border-top:0.25pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The impact on the consolidated income statement of the Telef&#xf3;nica Group of the rest of the operations with BBVA and CaixaBank in 2022 and 2021 is shown below:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;BBVA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receipt of services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Purchase of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends received &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;83&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;53&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&#160; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%"&gt;At&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:107%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:107%"&gt;December 31, 2022, Telef&#xf3;nica held a 0.73% stake (0.66% stake at December 31, 2021) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 12).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CaixaBank&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receipt of services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Purchase of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;73&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;69&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of goods&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;122&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;151&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The following table shows the balance sheet positions of these operations as of December 31, 2022 and 2021, as well as the current guarantees and other off-balance sheet positions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;BBVA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans, capital contributions and others (borrower)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;155&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans and capital contributions (lender)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Factoring operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;147&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.866%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CaixaBank&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31,2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans, capital contributions and others (borrower)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;145&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Finance arrangements: loans and capital contributions (lender)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid 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    <ifrs-full:TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions
      contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM18yLTItMS0xLTk5MzgzMg_580c3155-71f2-4ef3-9a0f-d8b676192d21"
      unitRef="eur">145000000</ifrs-full:TransfersUnderFinanceAgreementsFromEntityRelatedPartyTransactions>
    <ifrs-full:LeasesAsLesseeRelatedPartyTransactions
      contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM18zLTEtMS0xLTk5MzgzNw_cc39e4e6-b2fc-4e5a-b6ee-b884f914d5ed"
      unitRef="eur">37000000</ifrs-full:LeasesAsLesseeRelatedPartyTransactions>
    <ifrs-full:LeasesAsLesseeRelatedPartyTransactions
      contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM18zLTItMS0xLTk5Mzg0Mg_9c3fa4d6-5f4a-46e0-8bb8-ff825b420160"
      unitRef="eur">82000000</ifrs-full:LeasesAsLesseeRelatedPartyTransactions>
    <tef:FactoringOperationsRelatedPartyTransactions
      contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM180LTEtMS0xLTk5Mzg0Ng_e31a3a7c-de0e-40f8-82b0-147b626701d6"
      unitRef="eur">0</tef:FactoringOperationsRelatedPartyTransactions>
    <tef:FactoringOperationsRelatedPartyTransactions
      contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM180LTItMS0xLTk5Mzg1NA_988bfc37-3a05-4126-8f8a-13da8a23ffce"
      unitRef="eur">28000000</tef:FactoringOperationsRelatedPartyTransactions>
    <ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions
      contextRef="ia461a1020ce84e0294f260b162a273d2_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM181LTEtMS0xLTk5Mzg1OQ_99417c55-2d1c-4c41-89ec-2fafbff1ff95"
      unitRef="eur">160000000</ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions>
    <ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions
      contextRef="i7ff3e6248866478a84d27f1027dd93ea_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGFibGU6M2NiNTMyN2UzMTA5NGI3ZjgxNTkxMWI0ODA3ZWQxZDMvdGFibGVyYW5nZTozY2I1MzI3ZTMxMDk0YjdmODE1OTExYjQ4MDdlZDFkM181LTItMS0xLTk5Mzg2Nw_f3ee37cf-0616-4ba1-bd41-bee9bc3fbed4"
      unitRef="eur">190000000</ifrs-full:ProvisionOfGuaranteesOrCollateralByEntityRelatedPartyTransactions>
    <ifrs-full:UnearnedPremiums
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTIwMw_2ed35126-ea11-488e-8eaa-d4dbf79f7f09"
      unitRef="eur">6598467</ifrs-full:UnearnedPremiums>
    <ifrs-full:UnearnedPremiums
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8xMDk5NTExNjMxNDkzL2ZyYWc6MzYyODRlOTA2NGY5NGRkNGIxYmE5NDE3MmI0ODNhMGEvdGV4dHJlZ2lvbjozNjI4NGU5MDY0Zjk0ZGQ0YjFiYTk0MTcyYjQ4M2EwYV8yMjUzOTk4ODM4MTIxNA_6799648e-38ad-45e7-9295-d1393e60fe2b"
      unitRef="eur">5303931</ifrs-full:UnearnedPremiums>
    <ifrs-full:DisclosureOfFinancialAssetsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzY3NDI_846d0b81-a6dc-4149-99ab-a6ad424e5e39">Financial assets and other non-current assets &lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial assets and other non-current assets of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:59.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.323%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.570%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current financial assets (Note 16)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other long-term credits &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;981&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;890&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,019&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative financial assets (Note 19)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,882&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,285&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred expenses (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;854&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;555&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term receivables for taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;299&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prepayments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;324&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;222&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,347&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Non-current financial assets &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in investments, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2022 and 2021, is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:31.058%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.212%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other long-term credits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;457&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;252&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,633&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;551&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(122)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;686&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;540&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(272)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value adjustments and financial updates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(561)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(65)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;479&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;890&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,254&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;752&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;503&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;616&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(74)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(94)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(33)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(162)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;69&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value adjustments and financial updates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(384)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(197)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;497&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;981&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,163&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,019&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Investments &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Investments&#x201d; includes the fair value of investments in companies where Telef&#xf3;nica exercises no significant influence or control and for which there is no specific short-term disposal plan (see Note 3.i).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group&#x2019;s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounted to 249 million euros (232 million euros at December&#160;31, 2021), representing 0.73% of its share capital at December&#160;31, 2022 (0.66% at December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, Telef&#xf3;nica maintained a 0.59% stake in the share capital of China Unicom (Hong Kong) Limited, valued at 105 million euros (same percentage at December&#160;31, 2021, valued at 80 million euros).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 19, 2022 Telef&#xf3;nica signed an agreement with the company Global Alconaba, S.L., for the sale of 50,147,058 shares of Promotora de Informaciones, S.A. (PRISA), equivalent to 7.076% of its share capital. As a result of this sale, 71 million euros of losses from financial assets measured at fair value through comprehensive income have been reclassified to retained earnings. As of December 31, 2022 Telef&#xf3;nica's shareholding in PRISA amounted to 1.87% of the company's share capital and was valued at 4 million euros (9.03% at December 31, 2021 valued at 36 million euros). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Other long-term credits  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;This line item includes long-term financial assets of Telef&#xf3;nica Germany amounting to 104 million euros and 85 million euros at December 31, 2022 and 2021, respectively, that are mainly intended to cover obligations from the defined benefit plan of Telef&#xf3;nica Germany but do not represent "plan assets" in accordance with IAS 19 (see Note 24).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additions for the year 2022 include financial instruments (Federal Treasury Certificates) of Pegaso PCS, S.A. de C.V. amounting to 260 million euros, for the purpose of securing certain legal proceedings with the Mexican tax Administration Service. These instruments are classified as long-term based on the estimated term of the proceedings and accrue interest according to the time elapsed (see Note 28).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, additions for the year 2022 include 82 million euros of loans granted by Colombia Telecomunicaciones, S.A. ESP BIC to the associate company &#xc1;lamo Holdco, S.L. (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022 other long-term credits include 75 million euros corresponding to the subordinated debt granted by Telef&#xf3;nica Chile to the associate company HoldCo Infraco, SpA. generated by the sale of 40% of the fiber optic business (87 million euros as of December 31, 2021, see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Additions" in 2021 included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire") deposited in a securities account owned by Telef&#xf3;nica, S.A. with a notional of 1,000 million dollars of which 295 million euros are registered as "Other long-term credits" and 591 million euros were registered as "other current financial assets". Transfers for the year 2022 include the short-term transfer of the notes mentioned above for an amount of 313 million euros, all of which were registered at December 31, 2022 in "Other current financial assets" for an amount of 939 million euros (see Note 15).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally in 2021, Telxius recorded additions amounting to 246 million euros associated with the collection right arising with &lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;American Tower Corporation as a result of the sale of the telecommunications towers division in Europe (Spain and Germany) in June 2021. At December 31, 2022 the collection right amounted to 264 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brazil has non-current judicial deposits amounting to 501 million euros (see Note 24) at December 31, 2022 (431 million euros at December 31, 2021).   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022, there were deposits related to the collateral guarantees on derivatives (CSA) signed by Telef&#xf3;nica, S.A. and its counterparties for the credit risk management of derivatives amounting to 365&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million euros of which &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;42 million euros cross currency swap (564 million euros at December 31, 2021 that included 279 million euros related to cross currency swap).    &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In relation with collateral contracts, in 2022 there is an additional guarantee of 79,034&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; b&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;onds issued by Telef&#xf3;nica Emisiones, S.A.U. deposited in a securities account owned by Telef&#xf3;nica, S.A. with a notional of 78 million euros at December 31, 2022 (166,678 bonds for a nominal amount of 173 million euros at December 31, 2021).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Trade receivables&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Additions" for the year in 2022 include trade receivables amounting to 69 million euros from Colombia Telecomunicaciones, S.A. ESP BIC to the associate Onnet Fibra Colombia SAS, 59 million euros at December 31, 2022, see Note 10.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022 includes Telef&#xf3;nica Germany trade receivables at fair value through other comprehensive income for an amount of 292 million euros (269 million euros as of December 31, 2021, see Note 16).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial assets of the Telef&#xf3;nica Group at December&#160;31, 2022 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.524%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.351%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.791%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.844%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.503%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Fair value through other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debt instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Equity instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current financial assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;323&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;350&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;465&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,404&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;464&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;3,067&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;11&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,677&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;465&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;390&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Credits and other financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;896&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;981&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;981&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,404&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,019&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;405&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;833&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;466&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;181&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,513&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;15,325&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;17,029&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;17,029&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;792&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;792&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;9,439&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;10,231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,340&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets (Note 15)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;466&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;181&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;721&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;728&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,183&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;465&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,870&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;645&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;4,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;18,002&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;23,248&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;23,248&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial assets of the Telef&#xf3;nica Group at December&#160;31, 2021 was as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.204%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.791%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.257%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.524%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.358%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Fair value through other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debt instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Equity instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current financial assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;506&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;269&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;452&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,301&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;3,148&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,534&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;452&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;372&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Credits and other financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;882&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;890&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;890&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;471&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,301&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;483&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;640&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;218&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;956&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;908&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;160&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,923&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;17,235&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;19,318&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;19,318&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;917&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;918&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;8,516&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;9,434&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;6,903&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d6d6d6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets (Note 15)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;908&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;160&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,005&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,670&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;3,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;3,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;8,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;8,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;8,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;724&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,225&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;452&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;3,209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;540&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;5,071&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;19,769&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;25,380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;25,380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialAssetsExplanatory>
    <tef:DisclosureOfDetailedInformationAboutChangesInNonCurrentFinancialAssetsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTAvZnJhZzo2MjI0MmRmM2I0ZTY0NTQ0ODZlNDA5ODc4NjUyMjQxNi90ZXh0cmVnaW9uOjYyMjQyZGYzYjRlNjQ1NDQ4NmU0MDk4Nzg2NTIyNDE2XzY3NzM_298301e0-34aa-4b02-9681-b084433841f3">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial assets and other non-current assets of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:59.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.323%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.570%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current financial assets (Note 16)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other long-term credits &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;981&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;890&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,019&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative financial assets (Note 19)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,882&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,285&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred expenses (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;854&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;555&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term receivables for taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;299&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prepayments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;324&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;222&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,347&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in investments, other long-term credits, deposits and guarantees, trade receivables, long-term receivables for subleases and impairment of trade receivables in 2022 and 2021, is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:31.058%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.212%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other long-term credits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;457&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;252&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,633&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;551&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(122)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;686&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;540&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(272)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value adjustments and financial updates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(561)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(65)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;479&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;890&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,254&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;752&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;503&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;616&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(74)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(94)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(33)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(162)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;69&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value adjustments and financial updates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span 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solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(197)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;497&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;981&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,163&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,019&lt;/span&gt;&lt;span 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90ZXh0cmVnaW9uOmUyOThjMThjOGMzMTRmZDA5ZDdjMmFiYTZmMDQ3MTY0XzQ5MA_0468fb48-62ce-43ba-9391-fbc158b1183d">Inventories&lt;div style="margin-bottom:7pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of inventories of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:7pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.733%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.983%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.984%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audiovisual rights&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;823&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,131&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mobile terminals and other equipments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;701&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;584&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other inventories&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories impairment provision&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Inventories&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,546&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,749&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"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).&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInventoriesExplanatory>
    <tef:DisclosureofdetailedinformationaboutinventoryTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90ZXh0cmVnaW9uOmUyOThjMThjOGMzMTRmZDA5ZDdjMmFiYTZmMDQ3MTY0XzQ5Mg_b7e6ff06-9987-4eb7-b0d5-5760b4542c8d">&lt;div style="margin-bottom:7pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of inventories of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:7pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.733%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.983%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.984%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #cbcbcb;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audiovisual rights&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;823&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,131&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mobile terminals and other equipments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;701&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;584&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other inventories&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories impairment provision&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Inventories&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,546&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,749&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"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).&lt;/span&gt;&lt;/div&gt;</tef:DisclosureofdetailedinformationaboutinventoryTableTextBlock>
    <tef:Currentinventoriesbroadcastandtransmissionrightsandothercontents
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzEtMS0xLTEtNTEwNDQy_06ec1743-9c14-4820-a22e-15024d706cf1"
      unitRef="eur">823000000</tef:Currentinventoriesbroadcastandtransmissionrightsandothercontents>
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      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzEtMi0xLTEtNTEwNDQy_ba46534c-8ada-4ab9-8cf5-dcf7970ab4eb"
      unitRef="eur">1131000000</tef:Currentinventoriesbroadcastandtransmissionrightsandothercontents>
    <tef:Currentinventoriesmobileterminalandotherequipments
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzItMS0xLTEtNTEwNDQy_a50a9598-1ecf-4dc5-8fee-cccbbbab95d4"
      unitRef="eur">701000000</tef:Currentinventoriesmobileterminalandotherequipments>
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      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzItMi0xLTEtNTEwNDQy_5809dd71-5591-4ab5-a73b-291dbf68b50b"
      unitRef="eur">584000000</tef:Currentinventoriesmobileterminalandotherequipments>
    <ifrs-full:OtherInventories
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzMtMS0xLTEtNTEwNDQy_86ff22e1-e3b2-4ffe-b2b5-651de0150b3c"
      unitRef="eur">57000000</ifrs-full:OtherInventories>
    <ifrs-full:OtherInventories
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzMtMi0xLTEtNTEwNDQy_a2875482-67f1-431f-afee-1d55eaadf4f2"
      unitRef="eur">71000000</ifrs-full:OtherInventories>
    <tef:Currentinventoriesimpairmentprovision
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzYtMS0xLTEtNTEwNDQy_ab125a90-4865-4c3b-9868-eb68cc64fdb2"
      unitRef="eur">35000000</tef:Currentinventoriesimpairmentprovision>
    <tef:Currentinventoriesimpairmentprovision
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzYtMi0xLTEtNTEwNDQy_eb1dbdaf-9718-43a2-8972-cc3a1031d0bb"
      unitRef="eur">37000000</tef:Currentinventoriesimpairmentprovision>
    <ifrs-full:Inventories
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzctMS0xLTEtNTEwNDQy_d3a4389b-e3db-4587-8ad1-855abc0b29fa"
      unitRef="eur">1546000000</ifrs-full:Inventories>
    <ifrs-full:Inventories
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTMvZnJhZzplMjk4YzE4YzhjMzE0ZmQwOWQ3YzJhYmE2ZjA0NzE2NC90YWJsZTo5ZjFlNjYxNjE0M2I0YTcwYWRlNWRhYjI5ZDk0ODZjNS90YWJsZXJhbmdlOjlmMWU2NjE2MTQzYjRhNzBhZGU1ZGFiMjlkOTQ4NmM1XzctMi0xLTEtNTEwNDQy_adfae97d-e307-4a09-abe2-9e14994ba12e"
      unitRef="eur">1749000000</ifrs-full:Inventories>
    <ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwMzM_bef5643b-9867-4a14-accd-baa1c168b93a">Receivables and other current assets&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of receivables and other current assets of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.225%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.737%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.738%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables (Note 16)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,340&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,903&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,680&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,926&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;387&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,794&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,384&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capitalized costs (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prepayments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;714&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;583&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,134&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,287&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The movement in impairment of trade receivables in 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment provision at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,549&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Allowances&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;598&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(545)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(33)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment provision at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,531&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Allowances&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;613&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(397)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment provision at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,891&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Public-sector net trade receivables at December&#160;31, 2022 and 2021 amounted to &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;518&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million euros and 439 million euros, respectively.    &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:41.066%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.687%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.566%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.784%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.397%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unbilled receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,316&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amount not overdue invoiced&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,976&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(114)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Less than 90 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(160)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;893&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(141)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Between 90 and 180 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;347&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(150)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;333&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(125)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Between 180 and 360 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;534&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(381)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(306)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;More than 360 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,037)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,992&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,829)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,680&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,926&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;Other current financial assets&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of other financial assets of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:59.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.323%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.570%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term credits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,306&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;439&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;760&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term derivative financial assets (Note 19)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;712&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;995&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;774&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,444&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,835&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Short-term credits at December 31, 2021, included bank deposits with a maturity in one month formalized by Telfisa Global, B.V. which amounted to 1,190 million euros.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Short-term deposits and guarantees at December 31, 2022 include current judicial deposits amounting to 106 million euros (see Note 24) constituted by Telef&#xf3;nica Brazil (17 million euros at December 31, 2021) including the judicial deposit of the amount withheld from the acquisition price of OI's mobile assets, in the amount of 522 million Brazilian reais (94 million euros, see Note 5).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2021, 433 million euros of deposits maturing in more than 90 days from Telef&#xf3;nica M&#xf3;viles Chile were included, contracted with the funds obtained from the issue in November 2021 of a bond (see Appendix III).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally at December 31, 2022 there were 232 million euros registered in deposits (150 million euros at December 31, 2021), associated with collateral guarantees of Telef&#xf3;nica, S.A. classified as current according to the maturity of the underlying derivative instruments which they relate to&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Other current financial assets" include short-term investments in financial instruments to cover commitments undertaken by the Group&#x2019;s insurance companies, amounted to 126 million euros at December&#160;31, 2021 (105 million euros at December&#160;31, 2021) and were recorded at fair value.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally at December 31, 2022 this included the notes issued by the international issue platform Single Platform Investment Repackaging Entity, S.A. ("Spire"). These notes were deposited in a securities account owned by Telef&#xf3;nica, S.A. with a notional of 1,000&#160;million dollars equivalent to 939 million euros registered entirely under "Other current financial assets". At December 31, 2021 1,000 million dollars were deposited, of which 591 million euros were registered as "Other current financial assets" and 295 million euros were registered as "Other long-term credits" (see Note 12).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &#x201c;Cash and cash equivalents&#x201d; on the accompanying consolidated statement of financial position.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory>
    <tef:DisclosureofReceivablesandOtherCurrentAssetsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwMjg_bc3fd053-0ab4-4785-8069-7137cae4b4ce">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of receivables and other current assets of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.225%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.737%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.738%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables (Note 16)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,340&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,903&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,680&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,926&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables from associates and joint ventures (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;387&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,794&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,384&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capitalized costs (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prepayments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;714&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;583&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,134&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,287&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureofReceivablesandOtherCurrentAssetsTableTextBlock>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzQtMS0xLTEtNTEwNDQy_3680bb97-f594-4227-bd0d-da48b7d76483"
      unitRef="eur">151000000</ifrs-full:CurrentReceivablesDueFromJointVentures>
    <ifrs-full:CurrentReceivablesDueFromJointVentures
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzQtMi0xLTEtNTEwNDQy_1c288770-ce1e-4736-b161-5fb2cfc263a6"
      unitRef="eur">121000000</ifrs-full:CurrentReceivablesDueFromJointVentures>
    <ifrs-full:OtherCurrentReceivables
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzUtMS0xLTEtNTEwNDQy_4754d588-efeb-492b-851d-2a80c7a57ac9"
      unitRef="eur">400000000</ifrs-full:OtherCurrentReceivables>
    <ifrs-full:OtherCurrentReceivables
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzUtMi0xLTEtNTEwNDQy_44ec6bbc-3d2c-4413-a373-973769be4304"
      unitRef="eur">387000000</ifrs-full:OtherCurrentReceivables>
    <ifrs-full:OtherCurrentAssets
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzctMS0xLTEtNTEwNDQy_56460319-d002-420e-b6c1-76e04b02bcc1"
      unitRef="eur">1794000000</ifrs-full:OtherCurrentAssets>
    <ifrs-full:OtherCurrentAssets
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzctMi0xLTEtNTEwNDQy_11abcdcc-a311-4e78-b39c-e44b15a57e2d"
      unitRef="eur">1384000000</ifrs-full:OtherCurrentAssets>
    <ifrs-full:CurrentContractAssets
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzgtMS0xLTEtNTEwNDQy_fa3d239c-5426-498a-b73b-9050446be969"
      unitRef="eur">195000000</ifrs-full:CurrentContractAssets>
    <ifrs-full:CurrentContractAssets
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzgtMi0xLTEtNTEwNDQy_f462f927-ecfa-400b-a335-96e7ab865c68"
      unitRef="eur">133000000</ifrs-full:CurrentContractAssets>
    <tef:CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzktMS0xLTEtNTEwNDQy_8cc4102f-c3b5-4af4-8775-85843d2396bd"
      unitRef="eur">885000000</tef:CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers>
    <tef:CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzktMi0xLTEtNTEwNDQy_2e6ad7d0-110a-45b7-9352-48b7848bd9fc"
      unitRef="eur">668000000</tef:CurrentAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers>
    <ifrs-full:CurrentPrepayments
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzEwLTEtMS0xLTUxMDQ0Mg_8f33016d-67d6-47b7-a79e-c1eea42dc509"
      unitRef="eur">714000000</ifrs-full:CurrentPrepayments>
    <ifrs-full:CurrentPrepayments
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzEwLTItMS0xLTUxMDQ0Mg_7521bc14-4f56-45d2-895a-4d6b6943fbb4"
      unitRef="eur">583000000</ifrs-full:CurrentPrepayments>
    <tef:CurrentReceivablesAndOtherCurrentAssets
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzExLTEtMS0xLTUxMDQ0Mg_fe31a45f-1e95-4961-8389-17026ab1ac1a"
      unitRef="eur">9134000000</tef:CurrentReceivablesAndOtherCurrentAssets>
    <tef:CurrentReceivablesAndOtherCurrentAssets
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozY2U0OWQ3YmJjY2U0NzYwYTZlMjA2MmUxOGE4YzE2Zi90YWJsZXJhbmdlOjNjZTQ5ZDdiYmNjZTQ3NjBhNmUyMDYyZTE4YThjMTZmXzExLTItMS0xLTUxMDQ0Mg_925187e0-15c3-4be8-85cc-f8e8cbe03f74"
      unitRef="eur">8287000000</tef:CurrentReceivablesAndOtherCurrentAssets>
    <ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwMjc_49fd847a-9f69-44cc-a3ba-ead3d6acda6f">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The movement in impairment of trade receivables in 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment provision at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,549&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Allowances&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;598&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(545)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(33)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment provision at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,531&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Allowances&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;613&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(397)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment provision at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,891&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory>
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    <ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets
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    <tef:IncreaseDecreaseThroughInclusionofCompaniesAllowanceAccountforCreditLossesofFinancialAssets
      contextRef="iae017e8989084d67a4fad8a883ba8e5c_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzMtMS0xLTEtNTEwNDQy_983f208c-41ba-4163-bf4c-b760fe81f986"
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    <ifrs-full:ReversalAllowanceAccountForCreditLossesOfFinancialAssets
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      unitRef="eur">545000000</ifrs-full:ReversalAllowanceAccountForCreditLossesOfFinancialAssets>
    <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets
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    <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzYtMS0xLTEtNTEwNDQy_5443a2ff-2a1e-49f1-8eb4-76ad507b5283"
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    <ifrs-full:AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets
      contextRef="ie36a78aa36654340a89f18a8d99fbe1e_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzctMS0xLTEtNTEwNDQy_0e243f77-4d52-4d3c-918f-7906f27176f6"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzgtMS0xLTEtNTEwNDQy_feda1769-a63b-4866-b6f0-0e096bbe3906"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTpjYzczMjQ5M2JmYTY0MzUyYjQ2YTQ3MjM2Mzg4MTJjMi90YWJsZXJhbmdlOmNjNzMyNDkzYmZhNjQzNTJiNDZhNDcyMzYzODgxMmMyXzEwLTEtMS0xLTUxMDQ0Mg_d9fa2bbb-0708-4784-8b7a-3b4f5f61a315"
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    <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets
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    <ifrs-full:CurrentTradeReceivables
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzgxNA_3da3d385-6c6d-4b5b-9c9b-985d13eb8f26"
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    <ifrs-full:CurrentTradeReceivables
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzgzNQ_ae17f7f4-dc27-4722-b21c-ca10eb88e341"
      unitRef="eur">439000000</ifrs-full:CurrentTradeReceivables>
    <ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90ZXh0cmVnaW9uOmM0NWRiYzZjOThmNTQwMzY5OTc2OGI4YWI4ODJkNzEwXzEwNDA_2148cd8e-5f4f-435c-8df2-d5d1432cea1e">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of the age of the accounts receivable balances from customers and their corrections for impairment as of December 31, 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:41.066%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.687%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.566%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.784%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.397%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impairment&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unbilled receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,316&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amount not overdue invoiced&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,976&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(114)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Less than 90 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(160)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;893&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(141)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Between 90 and 180 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;347&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(150)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;333&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(125)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Between 180 and 360 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;534&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(381)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(306)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;More than 360 days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,037)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,992&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,829)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,680&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,926&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #2b3447;border-top:0.25pt solid #2b3447;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzItMS0xLTEtNTEwNDQy_cf2e33de-215d-4571-afe5-8d4c16b3ce6a"
      unitRef="eur">2495000000</ifrs-full:CurrentTradeReceivables>
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      unitRef="eur">9000000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzItMy0xLTEtNTEwNDQy_783d69fe-d310-48cf-a75a-8f0f6f2da001"
      unitRef="eur">2316000000</ifrs-full:CurrentTradeReceivables>
    <ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTYvZnJhZzpjNDVkYmM2Yzk4ZjU0MDM2OTk3NjhiOGFiODgyZDcxMC90YWJsZTozMjlhNzYzNzc0Yjk0YjA0YTFhZTkzNzc1NDFhMWRjZi90YWJsZXJhbmdlOjMyOWE3NjM3NzRiOTRiMDRhMWFlOTM3NzU0MWExZGNmXzItNC0xLTEtNTEwNDQy_ba51612a-ea83-4f04-a1f5-70437da27dfa"
      unitRef="eur">16000000</ifrs-full:AllowanceAccountForCreditLossesOfFinancialAssets>
    <ifrs-full:CurrentTradeReceivables
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      decimals="-6"
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      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzIzNzU_af08b83d-5d96-41b4-adc5-113aae6af26b">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of other financial assets of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:59.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.323%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.570%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term credits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,306&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;439&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;760&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term derivative financial assets (Note 19)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;712&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;995&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;774&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,444&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,835&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureOfOtherCurrentFinancialAssetsTableTextBlock>
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      unitRef="eur">439000000</ifrs-full:CurrentFinancialAssets>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDIwNDA_d2ba90f1-06ab-40ee-8b15-6bb81f4bb539"
      unitRef="brl">522000000</ifrs-full:CurrentFinancialAssets>
    <ifrs-full:CurrentFinancialAssets
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDIwNDU_a64cfe0e-d082-47fb-89de-ba578a94b456"
      unitRef="eur">94000000</ifrs-full:CurrentFinancialAssets>
    <ifrs-full:CurrentFinancialAssets
      contextRef="i55889d6101f14f37a2e112a47f01db3a_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzcwNg_f9915769-2aed-4220-9e15-2b6a7dc86410"
      unitRef="eur">433000000</ifrs-full:CurrentFinancialAssets>
    <tef:ShortTermDepositsAndGuaranteesMinimumMaturity
      contextRef="ia8dc6bf21a2148df805e2420b2d373e1_D20210101-20211231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0Xzc1Nw_60c86754-e699-4207-bac5-c0a7e478b7ad">P90D</tef:ShortTermDepositsAndGuaranteesMinimumMaturity>
    <ifrs-full:CurrentFinancialAssets
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0Xzk1MA_71c249d3-2623-4638-aa03-258b4d7613d7"
      unitRef="eur">232000000</ifrs-full:CurrentFinancialAssets>
    <ifrs-full:CurrentFinancialAssets
      contextRef="i829fa5a545914f2f9f687946d5b38293_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzE4NjkxNjk3Njc0ODc4_67004600-b13f-4a6b-886c-9d119874ec9f"
      unitRef="eur">150000000</ifrs-full:CurrentFinancialAssets>
    <ifrs-full:CurrentFinancialAssets
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzE1NDM_7e1e8642-cd87-49f6-823d-68e019838dca"
      unitRef="eur">126000000</ifrs-full:CurrentFinancialAssets>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzE1NzQ_c70f20d1-c79f-45d2-87e1-0e26a3391d24"
      unitRef="eur">105000000</ifrs-full:CurrentFinancialAssets>
    <ifrs-full:NotionalAmount
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3NzY_58c0170f-e257-4852-8078-21f2c0dfa049"
      unitRef="usd">1000000000</ifrs-full:NotionalAmount>
    <ifrs-full:NotionalAmount
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3ODM_eb678956-3ee2-4ce9-aa4b-9c21e3b675aa"
      unitRef="eur">939000000</ifrs-full:NotionalAmount>
    <ifrs-full:NotionalAmount
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3ODg_2c9beb49-6296-4959-995a-fa045fdc2fce"
      unitRef="eur">1000000000</ifrs-full:NotionalAmount>
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      contextRef="i33c585791f884947b8d04a2b25d58e09_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE3OTU_5eb49523-3a00-4800-888a-14de7cbe523e"
      unitRef="eur">591000000</ifrs-full:OtherCurrentFinancialAssets>
    <tef:OtherLongTermCredits
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMTkvZnJhZzpjZTA1YTNkZmU2Y2E0NWUzOGU2NWNlMTgxMGQ5ODNkNC90ZXh0cmVnaW9uOmNlMDVhM2RmZTZjYTQ1ZTM4ZTY1Y2UxODEwZDk4M2Q0XzU0OTc1NTgxNDE4MDA_0e66f80e-01b8-4665-9182-5bb47abce69a"
      unitRef="eur">295000000</tef:OtherLongTermCredits>
    <ifrs-full:DisclosureOfFinancialInstrumentsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjIvZnJhZzoyNzViYjYxNTY5YzI0YjY5YjNlMzY0NTU3MjBiNmQ1ZS90ZXh0cmVnaW9uOjI3NWJiNjE1NjljMjRiNjliM2UzNjQ1NTcyMGI2ZDVlXzQ3Ng_bb352c88-d6e7-4ae8-af7a-cd72cd5d7dcc">Breakdown of financial assets&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial assets of the Telef&#xf3;nica Group at December&#160;31, 2022 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.524%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.351%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.791%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.844%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.503%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Fair value through other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debt instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Equity instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current financial assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;323&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;350&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;465&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,404&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;464&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;3,067&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;11&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,677&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;465&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;390&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Credits and other financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;896&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;981&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;981&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,404&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,668&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,019&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;405&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;833&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;466&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;181&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,513&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;15,325&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;17,029&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;17,029&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;792&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;792&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;9,439&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;10,231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,340&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,891)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets (Note 15)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;466&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;181&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;721&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,444&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;7,245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;728&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,183&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;465&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,870&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;645&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;4,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;18,002&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;23,248&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;23,248&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:5pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The calculation of the fair values of the Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial assets of the Telef&#xf3;nica Group at December&#160;31, 2021 was as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.204%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.791%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.257%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.524%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.358%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Fair value through other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debt instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Equity instru-ments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current financial assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;506&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;269&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;452&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,301&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;3,148&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;2,534&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;6,062&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;452&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;372&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Credits and other financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;882&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;890&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;890&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deposits and guarantees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;471&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,301&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,772&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;483&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;640&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables for subleases&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(112)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;218&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;956&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;908&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;160&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,923&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;17,235&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;19,318&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;19,318&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;917&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;918&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;8,516&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;9,434&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;6,903&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment of trade receivables (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;(2,531)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d6d6d6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets (Note 15)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;908&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;160&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;1,005&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;2,670&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;3,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #d6d6d6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;3,835&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #d6d6d6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;8,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;8,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;8,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;724&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;1,225&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;452&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;3,209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;540&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;5,071&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;19,769&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;25,380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%"&gt;25,380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:center"&gt;&lt;span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%"&gt;Appendix IV: Financial instruments&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of the net financial debt arranged by the Group (notional amount) by currency and interest rates at December 31, 2022 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.648%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.648%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.648%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.338%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Underlying debt &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euro&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8,499)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,066&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,500&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,707&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,020&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17,344&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,461&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,254&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,715&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,933&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,770&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;206&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,095&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,955&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,079&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13,208&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.04&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.05&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10,432)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,028&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,587&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,937&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,814&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,183&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,382&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,875)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,507&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other european currencies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in CZK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;610&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;598&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;922&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(325)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;597&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;598&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;922&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(324)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;598&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.49&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in CHF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;America&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(982)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;49&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,878)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,874&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(937)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,038&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13,937)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(899)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,874)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;329&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;175&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.47&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.49&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(975)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(92)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,071)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,709&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13,783)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,074)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;97&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;111&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;119&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;115&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;111&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.737%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.659%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.513%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.367%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.927%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.002%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.513%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.270%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.002%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.958%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Underlying debt&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(222)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(222)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,125&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;796&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;367&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,412&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;868&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,610&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,478&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(220)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;796&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;827&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;271&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,339&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,380&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;428&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;116&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;184&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;460&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,287&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(234)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,523&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,289&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;441&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;455&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;846&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,047&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;834&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.04&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;115&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(106)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(106)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;294&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;165&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;139&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;820&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;474&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;349&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;823&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;804&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;458&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;349&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;807&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.08&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in VAC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;89&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;89&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;89&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.05&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;131&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;459&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;806&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;339&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;483&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;822&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(248)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;429&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;335&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(62)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;467&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;543&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;545&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.09&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in VEB&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.951%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.541%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.902%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:3.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.008%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.712%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.051%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.584%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.456%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Underlying debt&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;163&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;87&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(240)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;227&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(255)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;227&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.88&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25,994&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27,699&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,012)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26,687&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,989&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,784&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,553&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,337&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,005&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,915&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13,565)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,350&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(*) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Includes all net financial debt adjustments&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below 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, 2022:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.812%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.310%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate swaps&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non trading accountant purposes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;482&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;595&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,974)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,778)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,195)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,215)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(325)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,632)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11,119)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,894)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.07&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,974&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,778&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,215&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;325&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,632&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,489&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(113)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(715)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(470)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(50)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(477)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(245)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,187)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,144)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,148)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;715&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;470&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;477&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,144&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,035&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(319)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(159)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(478)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(161)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;319&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(703)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(159)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(862)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(869)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;862&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;849&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.812%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.310%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate swaps&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trading accountant purposes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;175&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,500)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(125)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,925)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,650)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,476)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,925&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,650&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,651&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,467)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(354)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,604)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,608)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,566)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,291)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.02&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,604&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,608&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,566&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.88&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;756&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;756&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(822)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(83)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(423)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,757)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,590)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9,532)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19,207)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11,396)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;822&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;423&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,757&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,590&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,207&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.03&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.78&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.92&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(451)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(451)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(434)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;450&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.812%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.310%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trading accountant purposes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(130)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(106)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(58)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(58)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(50)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.07&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.07&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(467)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(497)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(507)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;467&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;497&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;391&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.09&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#ffffff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; rte options, by maturity, are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.599%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:12pt"&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.494%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.640%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.684%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.659%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.836%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency swaps&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(282)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(282)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(335)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(460)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(795)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(734)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,536&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,542&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,078&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(673)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(80)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(46)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,352)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,966)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,907)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14,024)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,015&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;JPY&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;JPY&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;517&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,883&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,934&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,659&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,373&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,665)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(468)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,529)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,662)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;100&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;95&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;483&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;665&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;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 (0.83), EUR/USD (1.13) and USD/COP (3,742.44).&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.494%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.640%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.684%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.659%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.836%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Forwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,587)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,587)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(740)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(768)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CZK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CZK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,583&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,583&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(890)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(890)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(796)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(796)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(384)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(384)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,919&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,962&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;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 (0.87), EUR/USD (1.03), USD/COP (4,660.76) and EUR/BRL (5.58).&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsExplanatory>
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All the shares of the Company have the same characteristics and carry the same rights and obligations. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Board of Directors of Telef&#xf3;nica, S.A. at its meeting held on April 8, 2022, has resolved to carry out the implementation of the share capital reduction through the cancellation of own shares approved by the Annual General Shareholders&#x2019; Meeting held on April 8, 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In April 2022, the share capital of Telef&#xf3;nica, S.A. was reduced in the amount of 139,275,057 euros, through the cancellation of 139,275,057 own shares of the Company held as treasury stock, with a nominal value of one euro each. The share capital of the Company resulting from the reduction was set at 5,639,772,963 euros corresponding to 5,639,772,963 shares with a nominal value of one euro each. Related to the capital reduction the share premium was reduced by 409 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The reduction did not entail the return of contributions to the shareholders since the Company is the owner of the cancelled shares. The reduction was carried out with a charge to unrestricted reserves, through the allocation of a reserve for cancelled share capital in an amount equal to the nominal value of the cancelled shares (i.e. for an amount of 139,275,057 euros), which may only be used in compliance with the same requirements as those established for the reduction of share capital, by application of the provisions of section 335. c) of the Spanish Companies Act. Accordingly, as laid down in such section, the creditors of the Company will not have the right to oppose the reduction mentioned in section 334 of the Spanish Companies Act in connection with the share capital reduction.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 22, 2022, the deed relating to the share capital reduction was registered in the Commercial Registry of Madrid.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 24, 2022 the deed of capital increase amounting to 135,464,591 euros, divided into 135,464,591 ordinary shares, with a nominal value of one euro each, and issued against reserves as part of the scrip dividend, was filed in the Madrid Commercial registry. Following the share capital increase, the share capital was set up at 5,775,237,554 euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The shares of Telef&#xf3;nica, 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).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;2021&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2021, Telef&#xf3;nica, S.A.&#xb4;s share capital amounted to 5,779,048,020 euros and is divided into 5,779,048,020 common shares, of a single series and with a par value of 1 euro each, fully paid in.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Board of Directors of Telef&#xf3;nica, S.A. at its meeting held on April 23, 2021, resolved to carry out the implementation of the share capital reduction through the cancellation of own shares approved by the Annual General Shareholders&#x2019; Meeting held on April 23, 2021.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The share capital of Telef&#xf3;nica, S.A. was reduced in the amount of 82,896,466 euros, through the cancellation of 82,896,466 own shares of the Company held as treasury stock, with a nominal value of one euro each. The share capital of the Company resulting from the reduction was set at 5,443,534,596 euros corresponding to 5,443,534,596 shares with a nominal value of one euro each. Related to the capital reduction the share premium was reduced by 305 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The reduction was carried out with a charge to unrestricted reserves, through the allocation of a reserve for cancelled share capital in an amount equal to the nominal value of the cancelled shares (i.e. for an amount of 82,896,466 euros), which may only be used in compliance with the same requirements as those established for the reduction of share capital. Accordingly, the creditors of the Company did not have the right to oppose the reduction mentioned in section 334 of the Spanish Companies Act in connection with the share capital reduction.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 5, 2021, the deed relating to the share capital reduction was registered in the Commercial Registry of Madrid.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 22, 2021 the deed of capital increase amounting to 194,518,911 euros, divided into 194,518,911 ordinary shares, with a nominal value of one euro each, and issued against reserves as part of the scrip dividend, was filed in the Madrid Commercial registry. Following the share capital increase, the share capital was set up at 5,638,053,507 euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On November 3, 2021, the Board of Directors agreed to submit for the approval of the General Shareholders Meeting of the Company the adoption of the appropriate corporate resolutions to execute a capital reduction by means of a redemption of treasury shares representing approximately 1.65% of the share capital.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 23, 2021, the capital increased in the amount of 140,994,513 euros, in which 140,994,513 ordinary shares with a par value of one euro each were issued against reserves as part of the scrip dividend. Following the share capital increase, the share capital was set at 5,779,048,020 euros. On that date, the deed was filed in Madrid Companies' Register.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Authorizations by Shareholders&#x2019; Meeting&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As regards the authorizations conferred in respect of the share capital, the shareholders acting at the Ordinary General Shareholders&#x2019; 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&#x2019; 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 2022, the Board would be authorized to increase the share capital by the maximum nominal amount of 2,596,065,843 euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Furthermore, the shareholders acting at the Ordinary General Shareholders&#x2019; Meeting of Telef&#xf3;nica, 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&#x2019;s By-Laws,  the power to issue securities, including preferred shares and 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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Furthermore, under the aforementioned delegation resolution, the shareholders at the Ordinary General Shareholders&#x2019; Meeting of Telef&#xf3;nica, S.A. resolved to authorize the Board of Directors to guarantee, in the name of &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Furthermore, on June 8, 2018, shareholders voted to authorize the acquisition by the Board of Directors of Telef&#xf3;nica, S.A. treasury shares, up to the limits and pursuant to the terms and conditions established at the Shareholders&#x2019; 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 Telef&#xf3;nica, S.A. and by any of its controlled subsidiaries, exceed the maximum legal percentage at any time. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;b) Dividends&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Dividends distribution in 2022&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Approval was given at the General Shareholders&#x2019; Meeting of April 8, 2022 to pay a dividend in two tranches. The first tranche through a scrip dividend amounting to approximately 0.15 euros per share took place on June 2022 and consist on the assignment of free allotment rights with an irrevocable purchase commitment by the Company. The  second tranch amounting to approximately 0.15 euros per share took place in December 2022, after the adoption of the corresponding corporate resolutions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At its meeting held on May 25, 2022, the Executive Commission of Telef&#xf3;nica, S.A. 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 Telef&#xf3;nica 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 25.54% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#xf3;nica, S.A. The payment to these shareholders was made on June 16, 2022. The gross impact of this dividend amounts to 213 million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the shareholders of 74.46% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#xf3;nica, S.A. So the final number of shares issued on June 24, 2022 in the capital increase was 135,464,591 shares with a nominal value of 1 euro each.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; The second tranch of the dividend was paid on December 15, 2022 and had an impact in equity amounting to 854 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Dividends distribution in 2021&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Approval was given at the General Shareholders&#x2019; Meeting of April 23, 2021 to pay a scrip dividend amounting to approximately 0.35 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 tranch, amounting approximately 0.20 euros per share, took place in June of 2021 and the second tranch amounting approximately 0.15 euros per share took place in December 2021, after the adoption of the corresponding corporate resolutions.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At its meeting held on May 26, 2021, the Executive Commission of Telef&#xf3;nica, S.A. 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 Telef&#xf3;nica 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 28.53% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#xf3;nica, S.A. Cash payment to these shareholders was made on June 17, 2021. The gross impact of this dividend amounts to 308 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the shareholders of 71.47% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#xf3;nica, S.A. So the final number of shares issued after June 22, 2021 in the capital increase was 194,518,911 shares with a nominal value of 1 euro each.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Executive Commission of Telef&#xf3;nica, S.A. Board of Directors meeting of November 3, 2021 agreed the implementation of the second capital increase with charge to reserves related to the shareholder compensation by means of a scrip dividend. Thus, each shareholder received 1 free allotment right for each Telef&#xf3;nica share held. The shareholders of 34.98% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#xf3;nica, S.A. Cash payment was made on December 17, 2021 and had an impact in equity amounting to 292 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the shareholders of 65.02% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#xf3;nica, S.A. So the final number of shares issued on December 23, 2021 in the capital increase was 140,994,513 shares with a nominal value of one  euro each.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Dividends distribution in 2020&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Approval was given at the General Shareholders&#x2019; 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica 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-ofcharge allotment rights accepted the irrevocable purchase commitment assumed by Telef&#xf3;nica, S.A. Cash payment was made on July 3, 2020 and had an impact in equity amounting to 371 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the shareholders of 63.01% of the free of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#xf3;nica, 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Executive Commission of Telef&#xf3;nica, 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 Telef&#xf3;nica, S.A. Cash payment was made on December 30, 2020 and had an impact in equity amounting to 342 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the shareholders of 66.88% of the free of-charge allotment rights were entitled, therefore, to receive new shares of Telef&#xf3;nica, 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Proposed distribution of results of the parent company &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica, S.A. generated 880 million euros of losses in 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Company&#x2019;s Board of Directors will submit the following proposed distribution of 2022 results for approval at the Shareholders&#x2019; Meeting:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Legal reserve&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unrestricted reserves&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(880)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(880)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;c) Other equity instruments&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Undated deeply subordinated securities&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Unless specified otherwise, undated deeply subordinated securities were issued by Telef&#xf3;nica Europe, B.V. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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):&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.856%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.052%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.030%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Issue date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Annual&#160;&lt;br/&gt;Fix&#160;&#160;&#160;&#160;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Variable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exercisable by issuer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tender Offer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amount repurchased&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Redemption&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/23/2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 11/23/28 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/24/2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 05/24/28 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2/12/2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.376&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 05/12/29 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2029&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2/5/2020&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.502&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 05/05/27 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/24/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 09/24/27 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/14/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 03/14/25 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr style="height:36pt"&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/22/2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 12/04/23 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(74)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr style="height:38pt"&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 09/22/26 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/07/2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.625&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 06/07/23 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;676&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;676&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(547)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(129)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2014&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 03/31/24 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Green undated deeply subrodinated securities (see Note 29.d)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Sustanible undated deeply subordinated securities (see Nota 29.d)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In all issuances of undated deeply subordinated securities (hybrid instruments), the issuer has an option to defer the payment of coupons and holders of such securities cannot call for payment. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As the repayment of principal and the payment of coupons depend solely on Telef&#xf3;nica&#x2019;s decision, these undated deeply subordinated securities are equity instruments and are presented under &#x201c;Other equity instruments&#x201d; in the accompanying consolidated statement of changes in equity. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In November 2022, Telef&#xf3;nica Europe, B.V. carried out several transactions on its hybrid capital: (a) a new issue amounting to 750 million euros, guaranteed by Telef&#xf3;nica, S.A. (see Note 29.d); (b) a tender offer on a hybrid instruments, denominated in euros, with first call dates in March and September 2023. The issuer accepted the purchase in cash of the tendered securities in a principal amount of 621 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;In December 2022, Telef&#xf3;nica Europe, B.V. was exercised the clean-up call option for the remaining hybrid instruments with first non-call date March 2023, with an aggregate principal amount of 129 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;In 2022, the payment of the coupons related to hybrids instruments, in an aggregate amount, net of tax effects, of 201 million euros (263 million and 335 million euros in 2021 and 2020, respectively), was recorded as &#x201c;Retained earnings&#x201d; in the consolidated statements of changes in equity.  In 2022 and 2021, the payments related to the undated deeply subordinated securities include the premium of the tender offers carried out in these periods amounting to -1 million euros and 61 million euros, respectively. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;d) Legal reserve&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 of December 31, 2022 the legal reserve amounts to 1,059 million euros representing 18.34% of the share capital at the date.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;e) Retained earnings&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;These reserves also include revaluation reserves and the reserve for canceled share capital. These reserves are regulated by some restrictions for their distribution. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Revaluation reserves&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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, 4 million euros were reclassified to &#x201c;Retained earnings&#x201d; in 2022 (4 million euros in 2021) corresponding to revaluation reserves subsequently considered to be unrestricted. At December&#160;31, 2022, this reserve amounted to 54 million euros (58 million euros at December&#160;31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Reserve for canceled share capital&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 2022 was recorded in this account 139 million euros (83 million euros in 2021). The cumulative amount as of December 31, 2022 is 954 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;f) Translation differences&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of the accumulated contribution of translation differences attributable to equity holders of the parent at December 31 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14,031)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15,292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15,365)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pound sterling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(322)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,344)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Venezuelan bolivar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,734)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,755)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,754)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentine peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,364)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,702)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,272)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,452)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,339)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20,723)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(21,892)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25,980)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The negative translation differences of Telef&#xf3;nica United Kingdom accumulated in equity at June 1, 2021 were reclassified to the 2021 income statement as a result of the establishment of VMED O2 UK Ltd (see Note 2), for an amount of 3,135 million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;Likewise, the negative translation differences associated with the sale of the Telxius Group tower divisions and Telef&#xf3;nica de Costa Rica were also reclassified to the income statement for the amount of 37 and 21 million euros, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;g) Treasury share instruments&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica, S.A. held the following treasury shares at December&#160;31, 2022, 2021 and 2020: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.478%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.541%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.516%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.784%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.786%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euros per share&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of shares&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisition price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trading price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Market value &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Treasury shares at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85,217,621&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.00&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Treasury shares at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139,329,370&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.92&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.411&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Treasury shares at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98,231,380&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;319&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.777&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Millions of euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following transactions involving treasury shares were carried out in 2022, 2021 and 2020:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.791%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.009%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of shares&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/19&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;77,562,635&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisitions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68,640,303&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Scrip dividend&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,252,817&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Employee share option plan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,118,898)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(51,105,477)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;98,231,380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisitions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;122,032,764&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Scrip dividend&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,291,518&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Employee share option plan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,329,826)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital reduction&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(82,896,466)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;139,329,370&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisitions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,403,530&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Scrip dividend&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;563,415&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Employee share option plan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,391,956)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital reduction&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(139,275,057)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sales&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(411,681)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;85,217,621&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;There were treasury shares purchases in 2022 amounting to 365 million euros (478 and 234 million euros in 2021 and 2020, respectively)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 28, 2020, Telef&#xf3;nica de Contenidos, S.A.U. (currently Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.) acquired 50% of the capital stock of Prosegur Alarmas, S.L. with an in-kind delivery of 49,545,262 Telef&#xf3;nica shares, previously acquired to the Company, equivalent to 266 million euros as of the quotation on the delivery date included in "other movements".&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 31, 2022, the third cycle of the Telef&#xf3;nica, S.A long-term incentive plan called "Performance Share Plan 2018-2022" and "Talent for the Future Share Plan 2018-2022" (see Note 27) ended.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Company also has different derivative instruments, to be settled by offset, on a nominal value equivalent to 193 million of Telef&#xf3;nica shares recorded in the statement of financial position at December 31, 2022 in accordance with their maturity date and fair value (192 million euros at December 31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%"&gt;h) Equity attributable to non-controlling interests&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Equity attributable to non-controlling interests&#x201d; 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:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.422%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.466%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sales of non-controlling interests and inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of non-controlling interests and exclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span id="i9f2959ad79be455a9c5930d238bb2be3_0-4-1-1-510442"/&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Profit/(loss) for the year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(241)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;425&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,399&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,353&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(161)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,237&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones, S.A., ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;409&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;546&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;599&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,477&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(411)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;308&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;393&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,620&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.422%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.466%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sales of non-controlling interests and inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of non-controlling interests and exclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Profit/(loss) for the year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;271&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,346&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(56)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;218&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,353&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones, S.A., ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;409&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,645)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;546&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,025&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(119)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,051)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,477&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.422%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.466%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/19&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sales of non-controlling interests and inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of non-controlling interests and exclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Profit/(loss) for the year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,442&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(272)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(156)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,346&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones, S.A., ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;526&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(62)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(67)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;681&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(69)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,332&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;321&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(516)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;375&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,435)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,025&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, "sales of non-controlling interest and inclusion of companies" reflected the impact of the acquisition by the consortion form by CAA and Vauban of 45% of the company Bluevia for 23 million euros (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2021 noteworthy is the result attributable to minority shareholders of Telxius from the sale of its telecommunications towers division (see Note 2) and the dividend distribution related with this transaction (Note 28).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2020, "Sales of non-controlling interests and inclusion of companies" reflected 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica Group with non-controlling interests, namely Telef&#xf3;nica Brazil and Telef&#xf3;nica Germany. The detail of these figures for Colombia Telecomunicaciones and Telxius Telecom is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,517&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,312&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;569&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;413&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;438&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(308)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(314)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(325)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital Expenditure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;156&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,530&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,696&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,725&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,001&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,878&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,049&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.619%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.619%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.620%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;421&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;587&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;826&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;218&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,332&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(72)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(269)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,260&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;251&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital Expenditure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;348&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;507&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;475&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;452&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,083&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,840&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,225&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,785&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The statements of cash flows of these companies are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,678&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,949&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,517&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,741)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,295)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,674)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,467)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,817)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(737)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;187&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;462&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,732&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,407&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,608)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(875)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(459)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,339)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,820)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,342)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(215)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(288)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;585&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;180&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by (used in) investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(153)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(189)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by (used in) financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(225)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(218)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;45&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(627)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;528&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by (used in) investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 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colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,164)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;575&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span 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      unitRef="number">0.3699</tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash>
    <ifrs-full:DividendsPaidOrdinaryShares
      contextRef="i8d9cb3b00e594345838a0f5b0ca66785_D20200703-20200703"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNDg5_1777672f-245b-43fb-991a-6fac769f79e4"
      unitRef="eur">371000000</ifrs-full:DividendsPaidOrdinaryShares>
    <tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares
      contextRef="i243c418284f14ca7a6152e40af21d4cc_I20200612"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNTQ2_db177ed5-9e21-434f-abcf-475b5db3a613"
      unitRef="number">0.6301</tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares>
    <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding
      contextRef="id17cc0b7e3fd40c7a8cbeef55201c128_D20200701-20201231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNzQx_964668f8-3b49-42e4-b1e0-c332f150b9f4"
      unitRef="shares">136305986</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
    <ifrs-full:ParValuePerShare
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      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEyNzc1_20bd18a2-e3e2-47b5-b925-73084f5b1d05"
      unitRef="eurPerShare">1</ifrs-full:ParValuePerShare>
    <tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash
      contextRef="ic9a9a6b72c8c4b2bb68f173fb718c3d2_I20201204"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzMDUy_b341090e-cedb-4683-a06c-f3b99504ead8"
      unitRef="number">0.3312</tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInCash>
    <ifrs-full:DividendsPaidOrdinaryShares
      contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzMjUy_287f0068-355e-4ac5-b3ec-85907c458d5b"
      unitRef="eur">342000000</ifrs-full:DividendsPaidOrdinaryShares>
    <tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares
      contextRef="ic9a9a6b72c8c4b2bb68f173fb718c3d2_I20201204"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzMzA5_6d556078-acc1-4139-b56a-2e0864232ab0"
      unitRef="number">0.6688</tef:PercentageOfShareholdersIssuedFreeOfChargeAllotmentRightsIssuedInShares>
    <ifrs-full:ParValuePerShare
      contextRef="ic9a9a6b72c8c4b2bb68f173fb718c3d2_I20201204"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNDgy_17688111-b9fa-4bf8-88ff-a110af9d54e3"
      unitRef="eurPerShare">1</ifrs-full:ParValuePerShare>
    <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding
      contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNTI1_4a23dda4-5eec-4051-9c87-402e867adae3"
      unitRef="shares">197993390</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
    <tef:IncreaseDecreaseInShareCapitalPercentage
      contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNTQ1_39385bc7-ea9f-4293-8081-9e87cb6ae86d"
      unitRef="number">0.0372</tef:IncreaseDecreaseInShareCapitalPercentage>
    <ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding
      contextRef="i31d103dc06e4499ba1a6397345b56890_D20201204-20201204"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEzNTc2_f3cf5258-30e4-4cb2-8abc-8ecb6c069c25"
      unitRef="shares">197993390</ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding>
    <ifrs-full:ProfitLoss
      contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE0MjMx_f3169eaa-2255-497e-882d-7a58e2ed00a9"
      unitRef="eur">-880000000</ifrs-full:ProfitLoss>
    <tef:DistributionofProfitTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MzQy_42c7f354-8823-4313-8857-37e1735a38d4">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Company&#x2019;s Board of Directors will submit the following proposed distribution of 2022 results for approval at the Shareholders&#x2019; Meeting:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Legal reserve&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unrestricted reserves&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(880)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(880)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DistributionofProfitTableTextBlock>
    <tef:ProposedDistributionLegalReserve
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzllYWU5NmU2ZjI0MTVkYThhYWVkZmY0NjdiMGM1Yy90YWJsZXJhbmdlOmQzOWVhZTk2ZTZmMjQxNWRhOGFhZWRmZjQ2N2IwYzVjXzEtMS0xLTEtNTEwNDQy_2e5e69db-33e9-40ff-97c8-2dd2e69ba027"
      unitRef="eur">0</tef:ProposedDistributionLegalReserve>
    <tef:ProposedDistributionOtherReserves
      contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzllYWU5NmU2ZjI0MTVkYThhYWVkZmY0NjdiMGM1Yy90YWJsZXJhbmdlOmQzOWVhZTk2ZTZmMjQxNWRhOGFhZWRmZjQ2N2IwYzVjXzItMS0xLTEtNTEwNDQy_63c6189b-cbf4-4514-8ed4-e2e2c766f75c"
      unitRef="eur">880000000</tef:ProposedDistributionOtherReserves>
    <ifrs-full:ProfitLoss
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzllYWU5NmU2ZjI0MTVkYThhYWVkZmY0NjdiMGM1Yy90YWJsZXJhbmdlOmQzOWVhZTk2ZTZmMjQxNWRhOGFhZWRmZjQ2N2IwYzVjXzMtMS0xLTEtNTEwNDQy_f3169eaa-2255-497e-882d-7a58e2ed00a9"
      unitRef="eur">-880000000</ifrs-full:ProfitLoss>
    <ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MzA4_83a0dec9-d241-468a-be12-41ced7e0ae2f">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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):&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.856%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.052%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.030%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Issue date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Annual&#160;&lt;br/&gt;Fix&#160;&#160;&#160;&#160;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Variable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exercisable by issuer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tender Offer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amount repurchased&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Redemption&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/23/2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 11/23/28 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/24/2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 05/24/28 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2/12/2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.376&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 05/12/29 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2029&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2/5/2020&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt; (1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.502&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 05/05/27 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/24/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 09/24/27 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/14/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 03/14/25 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr style="height:36pt"&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/22/2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 12/04/23 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(74)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr style="height:38pt"&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 09/22/26 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/07/2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.625&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 06/07/23 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;676&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;676&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(547)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(129)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2014&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;from 03/31/24 rate SWAP + spread incremental&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,550&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE4Njg2_ba11d668-8ffd-4b71-a197-41de89679f44"
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    <ifrs-full:RevaluationSurplus
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      unitRef="eur">954000000</ifrs-full:CapitalRedemptionReserve>
    <tef:DisclosureOfTranslationDifferencesTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1Mjk2_e75edc4c-5086-4c9b-8fc1-d914ed13e2ec">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of the accumulated contribution of translation differences attributable to equity holders of the parent at December 31 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14,031)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15,292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15,365)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pound sterling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(322)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,344)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Venezuelan bolivar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,734)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,755)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,754)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentine peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,364)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,702)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,272)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,452)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,339)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20,723)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(21,892)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25,980)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfTranslationDifferencesTableTextBlock>
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      unitRef="eur">-14031000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
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      unitRef="eur">-15292000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
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      unitRef="eur">-15365000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzItMS0xLTEtNTEwNDQy_6b2e99a1-9c35-4865-9222-7a7b78ca5729"
      unitRef="eur">-322000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzMtMS0xLTEtNTEwNDQy_0e1d2065-48e0-40b4-9630-077f9ed092c0"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzUtMy0xLTEtNTEwNDQy_998a2405-5edb-4d07-9b42-e09ae38ea17b"
      unitRef="eur">-1339000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
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      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzYtMS0xLTEtNTEwNDQy_39eea22d-fc44-4f79-8db0-de12c41e90be"
      unitRef="eur">-20723000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
    <ifrs-full:ReserveOfExchangeDifferencesOnTranslation
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzYtMi0xLTEtNTEwNDQy_95c1e2d9-b602-41ba-9941-5b74c8b3b18a"
      unitRef="eur">-21892000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
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      contextRef="i860956404f59456bb4900546f88d8e31_I20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpmMzBmOGI2NjdkYjU0MGYxYTE0MDEyOWUxYTlkYzQ2OC90YWJsZXJhbmdlOmYzMGY4YjY2N2RiNTQwZjFhMTQwMTI5ZTFhOWRjNDY4XzYtMy0xLTEtNTEwNDQy_576db5b1-131d-4698-b18e-0f80ef154ce3"
      unitRef="eur">-25980000000</ifrs-full:ReserveOfExchangeDifferencesOnTranslation>
    <ifrs-full:ForeignExchangeLoss
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzE5OTYz_9727b438-35de-4202-9b92-1b2eac496518"
      unitRef="eur">3135000000</ifrs-full:ForeignExchangeLoss>
    <ifrs-full:ForeignExchangeLoss
      contextRef="i78fe8fdc99b6417ab71ac8fef8e69cff_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIwMTkw_6c98cf8f-666b-489f-9e99-856044ac3a41"
      unitRef="eur">37000000</ifrs-full:ForeignExchangeLoss>
    <ifrs-full:ForeignExchangeLoss
      contextRef="ibb7dfa1063f24d6d9b3895f0a98689b3_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIwMTk3_abeef91d-3312-480a-b07e-3c6c3df7c823"
      unitRef="eur">21000000</ifrs-full:ForeignExchangeLoss>
    <tef:TreasuryShareInstrumentsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MzI1_408b90e2-95c8-41ca-92b0-d3793ea9627f">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica, S.A. held the following treasury shares at December&#160;31, 2022, 2021 and 2020: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.478%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.541%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.516%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.784%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.786%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euros per share&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of shares&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisition price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trading price&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Market value &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Treasury shares at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85,217,621&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.00&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Treasury shares at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139,329,370&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.92&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.411&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Treasury shares at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98,231,380&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;319&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.777&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Millions of euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following transactions involving treasury shares were carried out in 2022, 2021 and 2020:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:76.791%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.009%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of shares&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/19&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;77,562,635&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisitions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68,640,303&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Scrip dividend&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,252,817&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Employee share option plan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,118,898)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(51,105,477)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;98,231,380&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisitions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;122,032,764&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Scrip dividend&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,291,518&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Employee share option plan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,329,826)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital reduction&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(82,896,466)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;139,329,370&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisitions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,403,530&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Scrip dividend&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;563,415&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Employee share option plan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,391,956)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital reduction&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(139,275,057)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sales&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(411,681)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Treasury shares at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;85,217,621&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:TreasuryShareInstrumentsTableTextBlock>
    <ifrs-full:NumberOfSharesOutstanding
      contextRef="id1e0308864644bfe9c06ffdc3fad0523_I20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItMS0xLTEtNTEwNDQy_1528fd88-8194-4493-9fa5-d904c73eb9e2"
      unitRef="shares">85217621</ifrs-full:NumberOfSharesOutstanding>
    <tef:TreasuryShareAcquisitionPrice
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItMi0xLTEtNTEwNDQy_5df9b618-31c8-4864-ae60-e8c72f55c5f2"
      unitRef="eurPerShare">4.00</tef:TreasuryShareAcquisitionPrice>
    <tef:TreasuryShareTradingPrice
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItMy0xLTEtNTEwNDQy_e62988eb-5506-48b4-90c5-03c6feca6dbc"
      unitRef="eurPerShare">3.39</tef:TreasuryShareTradingPrice>
    <tef:TreasurySharesMarketValue
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItNC0xLTEtNTEwNDQy_6994d6ef-687c-44cd-a389-a7f072315b14"
      unitRef="eur">288000000</tef:TreasurySharesMarketValue>
    <tef:TreasurySharesAsAPercentofTotalShares
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      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzItNS0xLTEtNTEwNDQy_bc0dda58-9256-4875-8b7c-614c0c171957"
      unitRef="number">0.01476</tef:TreasurySharesAsAPercentofTotalShares>
    <ifrs-full:NumberOfSharesOutstanding
      contextRef="i32c1dc04b63f4dc1ab9dc0321bb51f1b_I20211231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzMtMS0xLTEtNTEwNDQy_c3b1754d-c8ce-47be-af0d-eff5a2b24f23"
      unitRef="shares">139329370</ifrs-full:NumberOfSharesOutstanding>
    <tef:TreasuryShareAcquisitionPrice
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpjOTBiY2NhMTY5ZGI0NzliYWEyYjU1Y2M4NGY4OTVjOC90YWJsZXJhbmdlOmM5MGJjY2ExNjlkYjQ3OWJhYTJiNTVjYzg0Zjg5NWM4XzMtMi0xLTEtNTEwNDQy_11d3ddbc-4058-40fd-a235-f255d7963ee6"
      unitRef="eurPerShare">3.92</tef:TreasuryShareAcquisitionPrice>
    <tef:TreasuryShareTradingPrice
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      unitRef="shares">-139275057</tef:IncreaseDecreaseInSharesOutstandingFromCapitalIncreaseReduction>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTpkMzdhNThiNjM4MDc0ZGZiYjk5MGRmMGU2Mjk2OTI1My90YWJsZXJhbmdlOmQzN2E1OGI2MzgwNzRkZmJiOTkwZGYwZTYyOTY5MjUzXzE0LTEtMS0xLTUxMDQ0Mg_9bb9939e-b323-4cc8-9528-4d10c0b2ba43"
      unitRef="shares">85217621</ifrs-full:NumberOfSharesOutstanding>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyMzEz_8695510c-3e82-4694-a8f8-fcd5bbdbb8ad"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyMzIz_a25b620e-6953-4528-a023-ba36a02271e4"
      unitRef="eur">478000000</ifrs-full:PurchaseOfTreasuryShares>
    <ifrs-full:PurchaseOfTreasuryShares
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyMzMw_a9aac7f0-b692-49f3-8ed4-8d7b0cb976e1"
      unitRef="eur">234000000</ifrs-full:PurchaseOfTreasuryShares>
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyNDQz_e7475517-c847-410e-a4c3-ecabe510d8b4"
      unitRef="number">0.50</tef:ProportionOfOwnershipInterestInEquityMethodInvestment>
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      contextRef="i7385bfac464e4d89a0f89c96a1717011_D20200228-20200228"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyNTIx_6b8fd25b-f5d2-4069-9dc1-4ef3132e9049"
      unitRef="shares">49545262</tef:NumberOfSharesIssuedForEquityMethodInvestment>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIyNTkz_9bf2dfa2-c693-4f4e-8791-0068d68231c6"
      unitRef="eur">266000000</ifrs-full:InvestmentAccountedForUsingEquityMethod>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzIzMDcx_e39790e6-513b-4d31-9ae2-2f6a7c85c516"
      unitRef="shares">193000000</tef:DerivativeFinancialInstrumentSharesEquivalent>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzEwOTk1MTE2NzM3MDA_e1b392d9-beeb-4ea7-9136-5e2d1aa704a0"
      unitRef="shares">192000000</tef:DerivativeFinancialInstrumentSharesEquivalent>
    <tef:DisclosureOfEquityAttributableToNoncontrollingInterestTableTextBlock
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MjM2_7688e63d-a515-4556-8c64-434162d71886">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Equity attributable to non-controlling interests&#x201d; 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:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.422%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.466%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sales of non-controlling interests and inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of non-controlling interests and exclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span id="i9f2959ad79be455a9c5930d238bb2be3_0-4-1-1-510442"/&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Profit/(loss) for the year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/22&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(241)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;425&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,399&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,353&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(161)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,237&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones, S.A., ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;409&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;546&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;599&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,477&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(411)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;308&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;393&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,620&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.422%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.466%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sales of non-controlling interests and inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of non-controlling interests and exclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Profit/(loss) for the year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/21&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;271&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,346&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(56)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;218&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,353&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones, S.A., ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;409&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,645)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;546&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,025&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(119)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,051)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,477&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.422%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.466%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/19&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sales of non-controlling interests and inclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Acquisitions of non-controlling interests and exclusion of companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Profit/(loss) for the year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/20&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,442&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(272)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(156)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,346&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones, S.A., ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;526&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(62)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(67)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;681&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(69)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,089&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,332&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;321&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(516)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;375&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,435)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,025&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfEquityAttributableToNoncontrollingInterestTableTextBlock>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1MTg5_9b2bb918-a08d-4480-b5c4-a93ba1a5bb52">&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica Group with non-controlling interests, namely Telef&#xf3;nica Brazil and Telef&#xf3;nica Germany. The detail of these figures for Colombia Telecomunicaciones and Telxius Telecom is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,517&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,312&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;569&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;413&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;438&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(308)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(314)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(325)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital Expenditure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;151&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;156&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,530&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,696&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,725&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,001&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,878&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,049&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.619%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.619%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.620%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Revenues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;421&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;587&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;826&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;OIBDA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;218&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,332&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(72)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(269)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,260&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;251&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital Expenditure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;348&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;507&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;475&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;452&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,083&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,840&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total allocated liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,225&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,785&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</srt:ScheduleOfCondensedFinancialStatementsTableTextBlock>
    <ifrs-full:Revenue
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzItMS0xLTEtNTEwNDQy_f8974a51-63d5-47f9-8007-f474bc57ed88"
      unitRef="eur">1517000000</ifrs-full:Revenue>
    <ifrs-full:Revenue
      contextRef="iccc51089118c4613babdb19ab27b0f34_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzItMi0xLTEtNTEwNDQy_1b407ab3-188d-4060-a3a3-95a011680200"
      unitRef="eur">1312000000</ifrs-full:Revenue>
    <ifrs-full:Revenue
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTphYWE5NjNhMWFiMDI0Zjg0YjE3NjJkNDhhNTZhYzQyNC90YWJsZXJhbmdlOmFhYTk2M2ExYWIwMjRmODRiMTc2MmQ0OGE1NmFjNDI0XzItMy0xLTEtNTEwNDQy_dce29962-8663-40d8-b9c4-8f9afe0ee051"
      unitRef="eur">1249000000</ifrs-full:Revenue>
    <ifrs-full:RevenueAndOperatingIncome
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    <tef:DisclosureofSubsidiariesCashFlowTableTextBlock
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90ZXh0cmVnaW9uOmRhN2VkZjA1NjhlZjQxNzdhOWZlYTE3OWNjMjQyNzk0XzI1Mzg4_6d6002a9-0018-407d-a9f3-af442f1162f4">&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The statements of cash flows of these companies are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,678&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,949&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,517&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,741)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,295)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,674)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,467)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,817)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(737)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;187&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;462&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,732&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,407&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,386&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,608)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(875)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(459)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,339)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,820)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,342)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(215)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(288)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;585&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;180&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by (used in) investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(153)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(189)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by (used in) financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(225)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(218)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;45&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.589%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.639%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(627)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;528&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by (used in) investing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,141)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net cash flow provided by (used in) financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(89)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,164)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;575&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;83&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureofSubsidiariesCashFlowTableTextBlock>
    <ifrs-full:CashFlowsFromUsedInOperatingActivities
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo0Y2MzN2Q0NmQ0NTI0YjBmYTkzYjM2Zjg2Y2I3NTg5OC90YWJsZXJhbmdlOjRjYzM3ZDQ2ZDQ1MjRiMGZhOTNiMzZmODZjYjc1ODk4XzItMS0xLTEtNTEwNDQy_2950d869-11f0-4a03-934d-04ccccd3eda0"
      unitRef="eur">3678000000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
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      unitRef="eur">2949000000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzUtMi0xLTEtNTEwNDQy_48b38344-100b-4618-b24e-68d55c593130"
      unitRef="eur">83000000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
    <ifrs-full:IncreaseDecreaseInCashAndCashEquivalents
      contextRef="i07262588ba2f48f3afb2f00127e15c91_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjUvZnJhZzpkYTdlZGYwNTY4ZWY0MTc3YTlmZWExNzljYzI0Mjc5NC90YWJsZTo3YWIzMjgxNDUwMDQ0Y2EyODQ3YTJhYzExODJhNDUxZi90YWJsZXJhbmdlOjdhYjMyODE0NTAwNDRjYTI4NDdhMmFjMTE4MmE0NTFmXzUtMy0xLTEtNTEwNDQy_a672718e-099e-41e2-9354-197ac81f7af7"
      unitRef="eur">-38000000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
    <ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYxMDY_ec36c5b7-7914-4610-945e-b12bcbb4a300">Financial liabilities&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial liabilities at December&#160;31, 2022 and the corresponding maturities schedule is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.177%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.982%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,948&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,126&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,170&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,796&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,320&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Promissory notes &amp;amp; commercial paper&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;355&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,492&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,257&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,180&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,110&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,173&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,955&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29,675&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32,167&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;673&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;572&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;376&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments (Note 19)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;109&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,020&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,010&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,817&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,421&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,069&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,742&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;35,059&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,079&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The estimate of future payments for interest on these financial liabilities at December 31, 2022 is as follows: 1,254 million euros in&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2023, 1,147 million euros in 2024, 1,057 million euros in 2025, 978 million euros in 2026, 871 million euros in 2027 and 7,840 million euros in years after 2027. For floating rate financing, the Group mainly estimates future interest using the forward curve of the various currencies at December 31, 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 (712 million euros, see Note 15) and non-current financial assets (2,668 million euros, see Note 12). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2021 and 2022, 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, 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;,&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; there was no outstanding balance pending payment.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; At December 31, 2021 the corresponding amount pending payment recognized in "Loans and other payables" line was 36 million euros.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The deferred payments made in relation to this item during the year amounted to &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;41 million euros (108 million euros in 2021).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of the financial liabilities by category at December&#160;31, 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.702%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Liabilities at amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,167&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,167&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,314&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,514&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;973&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,395&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;973&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,395&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,368&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;36,711&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,079&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;36,196&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.976%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.263%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Liabilities at amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,412&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,656&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;524&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,670&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,188&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,194&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,194&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;524&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,670&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,188&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;40,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;42,295&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,262&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The calculation of the fair values of the Telef&#xf3;nica Group&#x2019;s debt instruments required an estimate of the credit spread curve for each currency and corresponding subsidiary using the prices of the Group&#x2019;s bonds and credit derivatives. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022, some of the financing arranged by Telef&#xf3;nica Group companies in Latin America (Peru), which amounted to approximately 1% of the Telef&#xf3;nica Group&#x2019;s gross debt, was subject to compliance with certain financial covenants. To date, these covenants are being met and have no impact on the debt of the Telef&#xf3;nica Group companies. Due to the absence of cross-defaults, breach of the covenants would not affect the debt at Telef&#xf3;nica, S.A. level.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Some of the financial liabilities of Telef&#xf3;nica Group includes adjustments in the amortized cost at December 31, 2022 and 2021 as a result of fair value interest rate and exchange rate hedges. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Issues, promissory notes, commercial paper, loans and other payables &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in issues, promissory notes, commercial paper, loans and other payables in 2022 and 2021 arising from financial activities is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.636%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.771%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and exchange gains and losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financial updates&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,920&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,746&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,541)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;724&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,623)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Promissory notes and commercial paper&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,488&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(600)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;742&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,802)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;894&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.694%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.844%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.949%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.043%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and exchange gains and losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financial updates&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;38,749&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,847)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;889&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(444)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,920&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Promissory notes and commercial paper&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,042)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,488&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,535&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(32)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;168&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Debentures and bonds &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Financial updates of debenture and bond issues include mainly the value adjustment of the basis adjustment bonds due to their fair value hedges, impacted by interest rate hikes.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, the nominal amount of outstan&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;ding debentures and bonds issues was 31,095 million euros (32,156 million euros at December&#160;31, 2021). Appendix III presents the characteristics of all outstanding debentures and bond issues at the year-end 2022, and the significant issues made during the year. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica, S.A. has a full and unconditional guarantee on issues made by Telef&#xf3;nica Emisiones, S.A.U., and Telef&#xf3;nica Europe, B.V., both of which are wholly owned finance subsidiaries of Telef&#xf3;nica, S.A. No other subsidiaries of Telef&#xf3;nica, S.A. provide guarantees on these issues.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Promissory notes and commercial paper &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main programs for issuance of promissory notes and commercial paper are the following: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;At December&#160;31, 2022, Telef&#xf3;nica Europe, B.V. had a commercial paper issuance program guaranteed by Telef&#xf3;nica, S.A. for up to 5,000 million euros. The outstanding balance of commercial paper issued under this program at December&#160;31, 2022 was 500 million euros, issued at an average interest rate of 0.28% for 2022 (999 million euros issued in 2021 at an average rate of -0.46%). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;At December&#160;31, 2022, Telef&#xf3;nica, S.A. had a corporate promissory note program for 500 million euros expandable to 2,000 million euros, with no outstanding balance at December&#160;31, 2022 (30&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million euros at December 31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interest-bearing debt&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.3pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Other movements in "Loans and other payables" at December 31, 2022 include collections and payments related to collateral liabilities deposit associated with Telef&#xf3;nica, S.A. debt for a net amount of 580 million euros (309 million euros at December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The average interest rate on outstanding loans and other payables at December&#160;31, 2022 was 3.45% (1.30% in 2021). This percentage does not include the impact of hedges arranged by the Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main financing transactions included under &#x201c;Interest-bearing debt&#x201d; line outstanding at December&#160;31, 2022 and 2021 and their nominal amounts are provided in Appendix V. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interest-bearing debt arranged or repaid in 2022 mainly includes the following: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.664%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.080%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Description&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Limit 12/31/2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding balance 12/31/2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Arrangement date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Drawndown 2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Repayment 2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/26/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/15/2032&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainable syndicated &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/15/2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/13/2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/23/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/23/2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones S.A. E.S.P.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/24/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/26/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/04/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/28/2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bluevia Fibra S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/16/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/20/2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#xf3;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d).&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"&gt;On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, the Telef&#xf3;nica Group presented availabilities of financing from different sources that amounted to approximately 11,737 million euros (12,182 million euros at December&#160;31, 2021), of which 11,434 million euros will mature in more than twelve months. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Within these availabilities of financing, 10,114 million euros are included, whose interests are linked to the fulfillment of sustainability objectives. Of these, 3,864 million euros correspond to committed lines and bilateral financing, 750 million euros correspond to the sustainable syndicated loan of Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG (see Annex V) and 5,500 million euros correspond to the sustainable syndicated loan of Telef&#xf3;nica, S.A. (see Note 29.d).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Loans by currency &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Loans and other payables&#x201d; line by currency at December&#160;31, 2022 and 2021, and the equivalent value of foreign-currency loans in euros, is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.883%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.883%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.883%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.887%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding balance (in millions)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Local Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Euro&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,823&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,823&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;U.S. dollar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;514&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;481&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;781&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,688&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;225&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;303&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombian peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,402,435&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,399,759&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;310&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexican peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,501&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguayan peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chilean Peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;181,601&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;177,845&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;186&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,544&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,693&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory>
    <ifrs-full:MaturityAnalysisForNonderivativeFinancialLiabilities
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYwMzY_1197d634-a6d8-482d-b94e-ae80f2f22779">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of financial liabilities at December&#160;31, 2022 and the corresponding maturities schedule is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.561%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.177%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.682%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.325%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.206%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.982%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,948&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,130&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,126&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,170&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,796&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,320&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Promissory notes &amp;amp; commercial paper&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;355&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,492&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,257&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,180&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,110&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,173&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,955&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29,675&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32,167&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;673&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;572&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;376&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments (Note 19)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;109&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,020&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,010&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,817&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,421&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,069&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21,742&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;35,059&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,079&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail and key features of outstanding debentures and bonds at December 31, 2022 are as follows (in millions of euros):&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.249%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.753%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.994%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.288%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total Telef&#xf3;nica and its instrumental companies&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity (nominal)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;T. EUROPE BV SEP_00 BOND GLOBAL D&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TEBV FEB_03 EMTN FIXED TRANCHE B&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Europe, B.V.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,648&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,648&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY 2013&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.987&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES FEBRUARY 2019 (1)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.069&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.528&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES SEPTEMBER 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;892&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;892&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN O2 GBP &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MAY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY  2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES SEPTEMBER 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.715&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.788&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN GBP 10/08/2029 400 GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.445&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.894%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.753%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.349%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.288%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total Telef&#xf3;nica and its instrumental companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity (nominal)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES OCTOBER 2014&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.932&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES FEBRUARY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.664&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MAY 2022 (2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.592&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES OCTOBER 2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.930&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MAY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.807&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JUNE 06 TRANCHE D&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.045&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.665&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JULY 2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JULY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.895&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES DECEMBER 2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Emisiones, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,000&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,019&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,843&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,655&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,399&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26,193&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Telef&#xf3;nica, S.A. and its instrumental companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,000&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,019&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,843&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,655&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,047&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27,841&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="30" style="border-top:2pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-top:9pt"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.204%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.450%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.928%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.755%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.283%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Foreign operators&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="18" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond F&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond O&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond Q&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond 144 A&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;115&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;77&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;468&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;759&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (19th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.6250%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (19th Serie B)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 2.8750%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (37th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.1250%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (19th Serie C)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.1875%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (17th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.0938%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (11th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.656&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (11th Serie B)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.188&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (15th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (16th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 1st Private Program (1st Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.281&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 1st Program International Issue (1sr Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;417&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica del&#160;Per&#xfa;, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;62&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;165&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;164&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;65&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;679&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CDI + 1.12%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CDI + 1.35%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;269&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BOND R144-A&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.950&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond A5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.650&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond C10&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;IPC + 3.39%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones, S.A, ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;68&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;499&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;567&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;O2 Telef&#xf3;nica Deutschland Finanzierungs, GmbH&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;600&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;600&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Outstanding Debentures and Bonds Foreign operators&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;200&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;130&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,111&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;258&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;523&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,032&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,254&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Outstanding Debentures and Bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,477&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,130&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,130&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,178&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19,079&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31,095&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Debentures and green bonds (See Note 29.d)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Debentures and sustainable bonds (See Note 29.d)&lt;/span&gt;&lt;/div&gt;</ifrs-full:MaturityAnalysisForNonderivativeFinancialLiabilities>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtMS0xLTEtNTEwNDQy_60c2e37b-9e99-4c7a-bc7b-4261b91c286b"
      unitRef="eur">1948000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="i45df8eea194e4fdc984a866b2d7f5a93_I20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtMi0xLTEtNTEwNDQy_4ce12f73-a302-4666-87ed-39d2ef334d76"
      unitRef="eur">1130000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="i748c79f85c934956ad7608a1f980fe27_I20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtMy0xLTEtNTEwNDQy_a47ac750-fdf2-4f44-b9bc-a6ab884a7d2a"
      unitRef="eur">3126000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="ie20bec3b93754ca39a8221e63e11424d_I20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtNC0xLTEtNTEwNDQy_1a882c63-8627-4b42-8d98-e01cba83f0d5"
      unitRef="eur">2098000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="i2b60b45b942342289cbd95769a2646d0_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtNS0xLTEtNTEwNDQy_1ada2829-65a8-4258-a928-a074aad2afef"
      unitRef="eur">4170000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="i6b314bb57ed8419c8bacf2f977480d62_I20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtNi0xLTEtNTEwNDQy_8fe1c6cc-13ae-4d63-95c1-2858cb4082ad"
      unitRef="eur">18796000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
      contextRef="iefad5436188d418eb2bbba9aa02b266a_I20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtNy0xLTEtNTEwNDQy_1d484e31-0076-46d7-8700-f0d393d1f6ab"
      unitRef="eur">29320000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
    <ifrs-full:BondsIssuedUndiscountedCashFlows
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjZmIwMjc0MTdjNjI0YjBjYTFiMDllMmJhNTUwMWVmYy90YWJsZXJhbmdlOmNmYjAyNzQxN2M2MjRiMGNhMWIwOWUyYmE1NTAxZWZjXzMtOC0xLTEtNTEwNDQy_8c2a17e6-b8d2-4bb7-afb4-be99bfc0dd26"
      unitRef="eur">31268000000</ifrs-full:BondsIssuedUndiscountedCashFlows>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzM3NA_47745eb8-4b0e-4562-b653-194a403925e9"
      unitRef="eur">7840000000</ifrs-full:InterestPayable>
    <tef:CurrentFinancialLiabilitiesAtFairValue
      contextRef="iaa2139d1537649efac65e795aa8d1558_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzgwMA_72649c51-7006-40dc-b74e-4ead43c6279c"
      unitRef="eur">712000000</tef:CurrentFinancialLiabilitiesAtFairValue>
    <tef:NoncurrentFinancialLiabilitiesAtFairValue
      contextRef="iaa2139d1537649efac65e795aa8d1558_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzg2NQ_87c0fe9f-8ea5-48ef-a0e8-672ab7619c82"
      unitRef="eur">2668000000</tef:NoncurrentFinancialLiabilitiesAtFairValue>
    <tef:TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzE1MzkzMTYyNzk5MDc2_493dc777-1624-40d4-b51f-78098570cae8"
      unitRef="eur">36000000</tef:TradeAndOtherPayablesUndiscountedCashFlowsPendingPayment>
    <tef:TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzE1NDA_b1e4508b-0722-44ec-909f-f62b0a333d4b"
      unitRef="eur">41000000</tef:TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade>
    <tef:TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzE1NTg_50885e83-1356-4189-8db0-8d2c5cac3b74"
      unitRef="eur">108000000</tef:TradeAndOtherPayablesUndiscountedCashFlowsPaymentMade>
    <ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYxMTA_1c6ba17a-5e90-42ad-9992-cd2923f1ec04">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of the financial liabilities by category at December&#160;31, 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.702%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Liabilities at amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,167&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,167&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,314&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,514&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;973&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,395&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,368&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;973&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,395&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,368&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;36,711&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,079&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;36,196&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.976%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.940%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.263%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Measurement hierarchy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Held for trading&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value option&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 1 (Quoted prices)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 2 (Other directly observable market inputs)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Level 3 (Inputs not based on observable market data)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Liabilities at amortized cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39,412&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,656&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;524&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,670&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,188&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,194&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,194&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;524&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,188&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;40,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;42,295&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,262&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYxMDk_5c2431dd-99fd-41d2-8613-1dbfb1b6a0be">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in issues, promissory notes, commercial paper, loans and other payables in 2022 and 2021 arising from financial activities is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.636%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.572%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.911%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.771%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and exchange gains and losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financial updates&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,920&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,746&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,541)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;724&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,623)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Promissory notes and commercial paper&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,488&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(600)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;742&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,802)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;894&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.694%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.844%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.949%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.043%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash used in financing activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and exchange gains and losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financial updates&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issues&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;38,749&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;561&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,847)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;889&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(444)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,920&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Promissory notes and commercial paper&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,042)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,488&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Loans and other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,535&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(32)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;168&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfReconciliationOfChangesInFinancialLiabilitiesTableTextBlock>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzItMS0xLTEtNTEwNDQy_9ae3c6b0-7729-4adc-b2dd-53736fa5df85"
      unitRef="eur">33920000000</ifrs-full:FinancialLiabilities>
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      unitRef="eur">1746000000</tef:AcquisitionsofFinancialLiabilities>
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      unitRef="eur">3541000000</tef:DisposalsofFinancialLiabilities>
    <tef:TranslationDifferencesofFinancialLiabilities
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzItNC0xLTEtNTEwNDQy_e261023c-7b48-41c9-a52c-777497ef9649"
      unitRef="eur">724000000</tef:TranslationDifferencesofFinancialLiabilities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzItNS0xLTEtNTEwNDQy_cc0ee2a2-f35b-48b2-9e02-906e1a9273b8"
      unitRef="eur">-1623000000</tef:FairValueAdjustmentsandFinancialUpdatesofFinancialLiabilities>
    <tef:Increasedecreasethroughothermovementsfinancialliabilities
      contextRef="i80e80a0f139045bcb1061de93b3892ef_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzItNi0xLTEtNTEwNDQy_7e901c23-b301-4918-aa9b-4a7371043563"
      unitRef="eur">42000000</tef:Increasedecreasethroughothermovementsfinancialliabilities>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzItNy0xLTEtNTEwNDQy_26c0a111-6197-4f86-a6d1-b1b0b79eec86"
      unitRef="eur">31268000000</ifrs-full:FinancialLiabilities>
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      decimals="-6"
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      unitRef="eur">600000000</tef:DisposalsofFinancialLiabilities>
    <tef:TranslationDifferencesofFinancialLiabilities
      contextRef="ic7691f3bac9342a5b87a9c58cad2738c_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzMtNC0xLTEtNTEwNDQy_03826012-b24b-4996-a0c1-8c5c04de5323"
      unitRef="eur">4000000</tef:TranslationDifferencesofFinancialLiabilities>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90YWJsZTpjMmM1YTIxYmUzOTg0OWY1YWQyOGVjNWZiMTZmOWQ2NC90YWJsZXJhbmdlOmMyYzVhMjFiZTM5ODQ5ZjVhZDI4ZWM1ZmIxNmY5ZDY0XzMtNS0xLTEtNTEwNDQy_8bda1516-6ebb-4af0-83ba-05067647129f"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYxMjI_f3d37fc8-ac57-4ee2-8723-91a1f8b7f9c6">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interest-bearing debt arranged or repaid in 2022 mainly includes the following: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.664%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.076%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.080%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Description&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Limit 12/31/2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding balance 12/31/2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Arrangement date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Drawndown 2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Repayment 2022 (million euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/26/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/15/2032&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainable syndicated &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/15/2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/13/2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/23/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/23/2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones S.A. E.S.P.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/24/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/26/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/04/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/28/2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bluevia Fibra S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/16/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/20/2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. The loan has two annual extension options at Telef&#xf3;nica, S.A. request with a maturity maximum up to 2029 (see Note 29.d).&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:112%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"&gt;On January 26, 2022 there was an early repayment for 132 million dollars of the bilateral loan originally scheduled to mature in 2023.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:112%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main debentures and bonds issued by the Group in 2022 are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.479%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.769%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.769%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.479%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.769%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.440%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Nominal (millions)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Item&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency of issuance&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Coupon&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Emisiones, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN Bond&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/05/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/13/2040&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN Bond &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;05/25/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;05/25/2031&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.592&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/14/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/12/2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.35% CDI&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/14/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/12/2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.12% CDI&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Debentures and sustainable bonds (See Note 29. d)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.131%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.389%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.017%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.660%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding principal balance&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Descriptive name summary&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current limit (millions)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Arrangement date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity date&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica, S.A&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;02/22/2013&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/01/2013&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/11/2015&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/11/2026&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;161&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;161&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;221&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/11/2015&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/11/2026&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainable syndicated (1)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/15/2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/13/2027&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/26/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/15/2032&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/23/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/23/2033&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;T. Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/04/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/28/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EIB Financing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;183&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/13/2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/13/2025&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainable syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/17/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/17/2026&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EIB Financing (Tranche 1)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/18/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/18/2029&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EIB Financing (Tranche 2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/14/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/14/2029&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones, S.A. E.S.P.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan (2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/24/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/26/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;111&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/06/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/19/2025&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bluevia Fibra S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/16/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/20/2027&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid 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0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/17/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/29/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span 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      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMjgvZnJhZzoyN2Y4ZTliMTUyMzc0MGRhYjZmNDVlYzgzMjgxOGYzMy90ZXh0cmVnaW9uOjI3ZjhlOWIxNTIzNzQwZGFiNmY0NWVjODMyODE4ZjMzXzYwODM_51425c48-57a7-40f9-a8f0-a553a0696928">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Loans and other payables&#x201d; line by currency at December&#160;31, 2022 and 2021, and the equivalent value of foreign-currency loans in euros, is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.883%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.883%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.883%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.887%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="12" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding balance (in millions)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Local Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Euro&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,823&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,823&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;U.S. dollar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;514&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;885&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;481&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;781&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazilian real&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,688&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;225&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;303&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombian peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,402,435&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,399,759&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;310&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexican peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,501&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguayan peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,456&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chilean Peso&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;181,601&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;177,845&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;186&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,544&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,693&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory>
    <ifrs-full:TradeAndOtherPayablesUndiscountedCashFlows
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    <ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjI4_6f51ff7f-b247-4e9b-adfd-c5a4e1e1a858">Derivative financial instruments and risk management policies&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main market risks affecting the Group companies are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Exchange rate risk&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: arises primarily from: (i) Telef&#xf3;nica&#x2019;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.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Interest rate risk&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: 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), (ii) the value of long-term liabilities at fixed interest rates and (iii) financial expenses and principal payments of inflation-linked financial instruments, considering interest rate risk as the impact of changes in inflation rates. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Share price risk&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Liquidity risk&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Country risk&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: 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 Telef&#xf3;nica Group operates, especially in Latin America.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Credit risk&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: 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.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Risk management &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group actively manages these risks through the use of derivatives (primarily on exchange rates, interest rates, credit, 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 Telef&#xf3;nica Group&#x2019;s solvency, facilitate financial planning and take advantage of investment opportunities. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group manages its exchange rate risk and interest rate risk in terms of net financial debt (including leases under IFRS 16) plus commitments as calculated by the Group. The Telef&#xf3;nica 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&#x2019;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 Telef&#xf3;nica Group should be considered as a substitute for gross financial debt (the sum of current and non-current interest-bearing debt).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For a more detailed description on reconciliation of net financial debt and net financial debt plus commitments to gross financial debt, see Note 2.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Exchange rate risk&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022, the net financial debt in Latin American currencies was equivalent to approximately 6,360 million euros (6,853 million euros in 2021). 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 an economic hedge of exchange rate risks therefore depends on which currencies depreciate relative to the euro. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica 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, 2022, the Telef&#xf3;nica Group&#x2019;s net financial debt denominated in dollars to hedge that component was equivalent to 978 million euros of asset position (418 million euros of asset position in 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022, net financial debt in pounds sterling was equivalent to 597 million euros (374 million euros at December 31, 2021). As a consequence of setting up in June 2021 of the joint venture VMO2 (see Note 2), the previous objective of maintaining a debt in pounds sterling in the consolidated balance sheet of the Group of twice OIBDA has been modified, as a result of changing the consolidation of UK assets (VMO2 is registered by equity method) and incorporating VMO2 to leverage higher than the ratio of twice Debt OIBDA.  The synthetic debt target denominated in pounds will be directly related to the flows that are expected to be repatriated from VMO2. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 and collections in foreign currency, the actual value of the investments (subsidiaries) in currencies other than the euro. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, net foreign exchange results were obtained from the management of the exchange rate (excluding monetary correction) for a total negative net result of 23.4 million euros (negative net result of 0.2 million euros in 2021).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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%.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:3pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.181%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.999%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on the consolidated income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on consolidated equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;All currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(314)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(56)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin American currencies vs USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(210)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;All currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;314&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin American currencies vs USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group&#x2019;s monetary position in Venezuela at December&#160;31, 2022 is a net asset position of 4,206 million Venezuelan digital bolivars equivalent to 87 million euros (240 million Venezuelan digital bolivars equivalent to 13 million euros at December&#160;31, 2021). The net monetary position exposure in 2022 has been an asset position, which led to a higher financial expense of 101 million euros due to the effect of the monetary correction for inflation during the year (24 million euros of income in 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interest rate risk&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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, Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In order to meet this target, Telef&#xf3;nica mainly carried out the following:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#160;&#160;&#160;&#160;a) The interest rate of borrowings tied to a variable interest rate was set. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#160;&#160;&#160;&#160;b) Interest rate fluctuations of debt tied to a variable interest rate were reduced. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#160;&#160;&#160;&#160;c) Fixed rate debt instruments were converted into variable market rate debt instruments. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group&#x2019;s financial expenses are exposed to changes in interest rates. In 2022 the Euro, Brazilian Real, British Pound, American Dollar and Chilean peso were the short-term rates that accounted for most of the exposure. In nominal terms, at December&#160;31, 2022, 88.3% of Telef&#xf3;nica&#x2019;s net financial debt was pegged to fixed interest rates for a period greater than one year, compared to &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;95.4%&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; in 2021. Of the remaining 11.7% (net debt at floating rates or at fixed rates maturing within one year), no debt had interest rates bounded in a period over one year, the same as on December&#160;31, 2021. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 increase in interest rates during the year has led to a decrease in the market value of these liabilities. However, this decrease was nearly completely offset by the decrease in the market value of the hedges on these positions. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;Net financial expenses amounted to 1,313 million euros in 2022, down  51 million euros compared to 2021, mainly due to extraordinary income related to the payment by the Spanish administration to the Group of delayed interest in connection with tax litigation in Spain, which more than offset the increase in the expenses due to the increase in interest rates and a higher level of debt denominated in Brazilian reais. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica has financial positions at December&#160;31, 2022, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica has financial positions at December&#160;31, 2022, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.733%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in basis points (bp)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on consolidated income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on consolidated equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+100bp&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;-100bp&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(61)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Share price risk&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group is exposed to changes in the value of equity investments, of derivatives associated with such investments, of share-based payments plans, of treasury shares and of equity derivatives over treasury shares. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;According to the share-based payments plans (see Note 27), the shares to be delivered to employees under such plan may be either Telef&#xf3;nica 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 Telef&#xf3;nica as a result of the higher number of shares delivered under such plan outstanding. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In 2018, the General Shareholder&#x2019;s Meeting approved a Long-Term Incentive Plan allocated to Senior Executive Officers of the Telef&#xf3;nica Group consisting of the delivery of shares of Telef&#xf3;nica, 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. The first (2018) and the second (2019) of the three cycles matured on December 31, 2020 and on December 31, 2021 with a result of a delivery of shares to its participants in 2021 and in 2022, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In 2021, the General Shareholder&#x2019;s Meeting approved a new Long-Term Incentive Plan allocated to Senior Executive Officers of the Telef&#xf3;nica Group consisting of the delivery of shares of Telef&#xf3;nica, S.A. This plan has a total duration of five years and is divided into three mutually exclusive cycles of three years each. In January 2021 and in January 2022 two cycles have commenced and the last one will start in January 2023 (see Note 27). &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;Finally, the 2022 Shareholder&#x2019;s Meeting approved a Global Employee Incentive Share Purchase Plan for shares of Telef&#xf3;nica, S.A. for the Employees of the Telef&#xf3;nica Group, which is expected to deliver shares to its participants in 2024 (see Note 27&lt;/span&gt;&lt;span style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:107%"&gt;).&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;To reduce the risk associated with variations in share price under these plans, Telef&#xf3;nica could acquire instruments that hedge the risk profile of some of these plans. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, the Group may use part of the treasury shares of Telef&#xf3;nica, S.A. held at December 31, 2022 to cover shares deliverable under the outstanding Plans. The net asset value of the treasury shares could increase or decrease depending on variations in Telef&#xf3;nica, S.A.&#x2019;s share price. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Liquidity risk&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;1.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt"&gt;The Telef&#xf3;nica Group&#x2019;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022, the average maturity of net financial debt (26,687 million euros) was 13.11 years (including undrawn committed credit facilities).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022, financial liabilities (Note 18) and lease liabilities (Note 20) scheduled to mature in 2023 amounted to 4,020 and 2,020&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; 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 2022, and c) undrawn credit facilities arranged with banks whose original maturity is over one year (an aggregate of 11,434 million euros at &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December 31, 2022&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;), providing flexibility to the Telef&#xf3;nica Group with regard to accessing capital or credit markets in the next two years. For a further description of the Telef&#xf3;nica Group&#x2019;s liquidity and capital resources in 2022, see Note 18 and Appendix V.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Country risk&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group managed or mitigated country risk by pursuing two lines of action (in addition to its normal business practices): &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;1.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt"&gt;Partly matching assets to liabilities (those not guaranteed by the Parent company) in the Telef&#xf3;nica Group&#x2019;s Latin American companies such that any potential asset impairment would be accompanied by a reduction in liabilities; and &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.17pt"&gt;Repatriating funds generated in Latin America that are not required for the pursuit of new, profitable business development opportunities in the region. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the first point, at December&#160;31, 2022, the Telef&#xf3;nica Group&#x2019;s Latin American companies had net financial debt not guaranteed by the Parent company of 2,462 million euros, which represents 9.2% 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). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the net repatriation of funds to Spain, &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;693 million euros from Latin America companies have been received in 2022, of which 652 million euros was in the form of dividends. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Credit risk&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group trades in derivatives with creditworthy counterparties. Therefore, Telef&#xf3;nica, S.A. generally trades with credit entities whose &#x201c;senior debt&#x201d; ratings are of at least &#x201c;A-&#x201d; or in case of Spanish entities in line with the credit rating of the Kingdom of Spain. In Spain, where most of the Group&#x2019;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 Telef&#xf3;nica, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Net CVA (CVA+DVA) or Credit Valuation Adjustment is the method used to measure credit risk for both counterparties and Telef&#xf3;nica 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 Telef&#xf3;nica and its counterparties. The simplified formula to calculate CVA is Expected Exposure times Probability of Default times Loss Given Default (LGD). In order to calculate these variables standard market practices are used. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the same time, and in order to address the credit risk, Telef&#xf3;nica considers the use of CDS, novations, derivatives with break clauses and signing CSA's under certain conditions. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For other subsidiaries, particularly those in Latin America, assuming a stable sovereign rating provides a ceiling which is below &#x201c;A&#x201d;, trades are with local financial entities whose rating by local standards is considered to be of high creditworthiness. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Meanwhile, with credit risk arising from cash and cash equivalents, the Telef&#xf3;nica 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). Additionally, for Treasury surpluses managed at Telef&#xf3;nica S.A, a criteria based on CDs has been added, similar to that used for the selection of counterparties to operate with derivatives, for the selection of counterparties for the placement of those surpluses. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group&#x2019;s maximum exposure to credit risk is initially represented by the carrying amounts of the financial assets and the guarantees given by the Telef&#xf3;nica Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Several Telef&#xf3;nica 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&#160;31, 2022, these guarantees amounted to approximately 6,657 million euros (6,192 million euros at December&#160;31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Capital management&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica&#x2019;s corporate finance department takes into consideration several factors for the evaluation of the Telef&#xf3;nica&#x2019;s capital structure, with the aim of maintaining the solvency and creating value to the shareholders. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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, Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica Group and its different areas. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interest rate benchmark reform and associated risks&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;During 2020 a fundamental reform of major interest rate benchmarks was launched globally, including the replacement of some interbank offered rates (IBORs) with alternative nearly risk-free rates (referred to as &#x2018;IBOR reform&#x2019;). 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.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;During 2022, the transition has been made to the new reference indices affected as of December 31, 2022, except for the USD Libor, whose transition will be made in June 2023. In the 2022 financial year, thanks to the decisions agreed in 2021 to manage the changes in the GBP Libor and CHF Libor, there have been no impacts from those changes. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;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, 2022 and December 31, 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.502%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.098%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.100%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross notional in original currency (in millions)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate index/Tenor&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD Libor 3M&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,947&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD Libor 1M&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD Libor 6M&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;Another relevant aspect of the reform is the need to incorporate substitute indexes (known as fallbacks) of the reference rates used into the contracts. In order to incorporate these substitute indexes into the contracts, The Group has decided not to adhere to the ISDA Protocol and has negotiated bilateral contracts with each affected counterparty during 2022 and 2021.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The Group will continue to apply the amendments of IFRS 9 until the uncertainty arising from the benchmark interest rate reforms with respect to the timing and amount of the underlying cash-flows to which the Group is exposed ends.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;In relation to the benchmark interest rate reform, IFRS regulations have incorporated information requirements on the exposure of entities to benchmark interest rates in the process of transition at the close of financial year 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;At December&#160;31, 2022 the book value of assets referenced to USD Libor rates amounts to 516 million euros (333 million euros at December 31, 2021) and the book value of financial liabilities including lease liabilities referenced to USD Libor rates amounts to 920 million euros (661 million euros at December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Derivatives policy&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, the nominal value of outstanding derivatives with external counterparties amounted to 83,706 million euros equivalent, a 1% decrease from December&#160;31, 2021 (84,794 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main principles in the management of derivatives are detailed below: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;1) Derivatives based on a clearly identified hedged items. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica&#x2019;s derivatives policy emphasizes the following points: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;Acceptable underlyings include assets and liabilities, profits, revenues and cash flows in either a company&#x2019;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&amp;amp;E purchases, future debt issues, commercial paper programs, etc.). The acceptability of an underlying asset in the above cases &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2) Matching of the hedged item to one side of the derivative. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;This matching basically applies to foreign currency debt and derivatives hedging foreign currency payments by Telef&#xf3;nica 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 Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;3) Matching the company contracting the derivative and the company that owns the hedged item. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 (Telef&#xf3;nica, S.A. and Telef&#xf3;nica Latinoam&#xe9;rica 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 the chance of 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 Telef&#xf3;nica Group companies as well as those of the banks). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;4) Ability to measure the derivative&#x2019;s fair value using the valuation systems available to the Telef&#xf3;nica Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica uses several tools to evaluate and manage the risk involved in derivatives and debt. Among these tools are the Calypso system, extensively used in various financial institutions, and 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;5) Sale of options only when there is an underlying exposure. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica considers the sale of options when: i) there is an underlying exposure (on the consolidated statement of financial position or associated with a highly probable cash outflow) that would offset the potential loss for the year if the counterparty exercised the option. This exposure does not have to be treated as a purchased option, but rather it can be another type of hedged item (in these cases, hedge accounting does not apply since this hedging instrument does not meet the criteria required by accounting standards to treat the sale of options as hedging instruments), or ii) the option is part of a structure in which another derivative offsets any loss. The sale of options is also permitted in option structures where, at the moment they are taken out, the net premium is either positive or zero. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For instance, it would be possible to sell short-term options on interest rate swaps that entitle the counterparty to receive a certain fixed interest rate, below the level prevailing at the time the option was sold. This would mean that if rates fell and the counterparty exercised its option, the Group would swap part of its debt from floating rate to a lower fixed rate, having received a premium. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;6) Hedge accounting. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main risks that may qualify for hedge accounting are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Variations in market interest rates (either money-market rates, credit spreads or both) that affect the value of the underlying asset or the measurement of the cash flows. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Variations in exchange rates that change the value of the underlying asset in the company&#x2019;s functional currency and affect the measurement of the cash flow in the functional currency. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Variations in the valuation of any financial asset, particularly shares of companies included in the portfolio of &#x201c;Equity instruments&#x201d;. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Variations in the price of commodities related to contracts that the Group has with third parties. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the underlying: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Hedges can cover all or part of the value of the underlying. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The risk to be hedged can be for the whole period of the transaction or for only part of the period. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The underlying may be a highly probable future transaction, or a contractual underlying (loan, foreign currency payment, investment, financial asset, etc.) or a combination of both that defines an underlying with a longer term. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:13.4pt;margin-top:13.4pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main coverage instruments used are: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Forwards / NDF: they are used mainly for exchange rate hedges related to commercial positions in foreign currency. They can also be used to hedge financing in foreign currency and net investment hedge in foreign currency. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Exchange Rate Options: in some cases, this type of instruments can be used linked to future CapEx and OpEx operations and investments and divestments in foreign currency. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Spots: for purchases and sales of currencies that are made same day value or two days&#x2019; value. Generally used for operational needs or for divestments of operations in foreign currency. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Currency swaps: this type of transaction is generally executed to hedge bonds issuance or loans issued in foreign currency or net investment hedge. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Interest Swaps / Interest Rate Options: these instruments are used to manage the interest rate of the debt portfolio. Their use of them is ruled by the Financial Expenses Budget with the objective of its fulfillment. Both the volume to be contracted and the maturity of these products are determined by the underlying assets to be hedged. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;It is possible that in several markets the maturity, as well as the low liquidity, does not allow to contract a "perfect&#x201d; hedge, but this circumstance will have to be analyzed case by case. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;CDS: in order to manage the counterparty credit risk or CVA / DVA, CDS operations can be arranged to mitigate this risk. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Derivatives of Commodities associated to: &lt;/span&gt;&lt;/div&gt;&lt;div style="padding-left:108pt;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;&#x25aa;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:9.96pt"&gt;Price risk hedge (mainly Electricity) associated with the Group's own contracts.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:108pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x25aa;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt"&gt;Supporting the business lines that may need it and always hedging the commercial risks of the signed contracts. They would be settled by differences, this is, in a non-deliverable format. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Equity Derivatives: these are derivatives that address strategic decisions or hedging needs, either to hedge future investments or hedge existing risks. They protect Telef&#xf3;nica from the potential appreciation or depreciation in the price of the shares they hold as underlying. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:13.4pt;margin-top:13.4pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Between the hedged item and the hedging instrument there is an economic relationship, this is, in general terms they move in opposite directions due to the same risk or risk covered. In other words, there must be an expectation that the value of the hedging instrument and the value of the hedged item will change systematically in opposite directions in response to the movements of one of the following elements: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;the same underlying item; or &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Underlying items that are economically related in such sense that they respond similarly to the risk that is being hedged. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Depending on the complexity of the hedge relationship and the way in which the hedge has been structured, a quantitative or qualitative analysis will have to be performed to demonstrate that there is an economic relationship between the hedged item and the hedging instrument. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;This may on occasion mean that the hedging instruments have longer terms than the related contractual underlying. This happens when the Telef&#xf3;nica Group enters into long-term swaps, caps or collars to protect the Group against interest rate increases that may raise the financial expense of its promissory notes, commercial paper and some floating rate loans which mature earlier than their hedges. These floating rate financing programs are highly likely to be renewed and Telef&#xf3;nica commits to this by defining the underlying asset in a more general way as a floating rate financing program whose term coincides with the maturity of the hedge. In those cases in which the underlying assets representing the risk hedged are canceled or refinanced early, and if there is an open risk with similar characteristics as the underlying asset that was canceled or refinanced early, either because there is new financing or because there is an underlying asset with similar characteristics and risk profile, the hedge may remain in force with the derivatives assigned thereto and the risk will be subject to the hedge arranged in the aforementioned refinancing. When either of these situations occurs, the effectiveness of the hedge will be reviewed taking into account the new situation. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;There can be three types of hedges: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Fair value hedges. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Cash flow hedges. Such hedges can be set at any value of the risk to be hedged (interest rates, exchange rates, etc.) or for a defined range (interest rates between 2% and 4%, above 4%, etc.). In this last case, the hedging instrument used is options. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Hedges of net investment in consolidated foreign subsidiaries. Generally, such hedges are arranged by Telef&#xf3;nica S.A. and other Telef&#xf3;nica holding companies. Wherever possible, these hedges are implemented through real debt in foreign currency. Often, however, this is not always possible as many Latin American currencies are non-convertible, making it impossible for non-resident companies to issue local currency debt. It may also be that, due to the debt market deepness, the debt in the currency concerned is not enough to accommodate the required hedge, or that an acquisition is made in cash with no need for market financing. In these circumstances derivatives either forwards or cross-currency swaps are mainly used to hedge the net investment. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;When using options, forwards or cross-currency swaps as hedging instruments, the exclusion of the time value of the option, the element at maturity of the forward and the currency spread of the cross-currency swap of the hedging relationship are evaluated on a case by case basis, in order to be treated as hedge costs. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Hedges can comprise a combination of different derivatives. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Management of accounting hedges is not static, and the hedging relationship may change before maturity. The interruption of the hedge accounting is possible within the framework of the management of financial risks and described in the internal document of &#x201c;financial risks management and hedging strategy under IFRS 9&#x201d;. To gauge the efficiency of transactions defined as accounting hedges, the Group analyzes the extent to which the changes in the fair value or in the cash flows attributable to the hedged item would offset the changes in fair value or cash flows attributable to the hedged risk using a linear regression model prospectively. To evaluate the effectiveness of hedges, under IFRS 9, there is no numerical range under which it is accepted that a hedge is effective and hence the hedge accounting standards are applicable. Therefore, Telef&#xf3;nica considers that if there is an economic relationship, not dominated by changes in credit risk and if the appropriate hedging rationale has been designated, the requirements for effectiveness are met. However, at the moment when ineffectiveness arises, Telef&#xf3;nica will evaluate whether there is still an economic relationship or whether the designated hedging rationale is appropriate. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The possible sources of ineffectiveness that Telef&#xf3;nica can have when designing a hedging relationship and that will be considered when establishing the hedging rationale are: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The hedging instrument and the hedged item have different maturity dates, initial dates, contract dates, repricing dates, etc. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The hedging instrument starts with initial value and a financing effect is produced. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;When the underlying items have different sensitivity and are not homogeneous, for example EURIBOR 3M versus EURIBOR 6M. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main guiding principles for risk management are laid down by Telef&#xf3;nica&#x2019;s Finance Department and implemented by the company financial officers (who are responsible for balancing the interests of each company and those of the Telef&#xf3;nica Group). The Corporate Finance Department may allow exceptions to this policy where these can be justified, normally when the market is too thin for the volume of transactions required or on clearly limited and small risks. New companies joining the Telef&#xf3;nica Group as a result of mergers or acquisitions may also need time to adapt. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;7) Cancellation of derivatives. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;When a derivative transaction is canceled, the company may: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Cancel the derivative and pay its market value. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Take the opposite position which cancels out the variability thereof, if cancellation costs are high or if it is recommended for operating or business reasons. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Breakdown of financial results&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of the financial results recognized in 2022, 2021 and 2020 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.181%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.999%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;384&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;191&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;185&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other financial income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;894&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;174&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subtotal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,303&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;379&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;356&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in fair value of asset derivatives at fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;377&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;255&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in fair value of liability derivatives at fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(861)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(507)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value of debt instruments and other assets at fair value to profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer from equity of results of cash flow hedges - future cash flows that are no longer expected to happen&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Loss)/Gain on fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,818)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(517)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;563&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain/(loss) on adjustment to items hedged by fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,763&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;527&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(525)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subtotal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(533)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;118&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest expenses &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,290)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,320)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses on lease liabilities (see Note 20)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(393)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(274)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(193)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ineffective portion of cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accretion of provisions and other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(169)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(280)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other financial expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(317)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(137)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(131)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subtotal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,997)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,911)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,879)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net finance costs excluding foreign exchange differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,227)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,414)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,740)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Other financial income" in 2022 includes 526 million euros corresponding to delayed interest after the Agreement for the Execution of the Judgment of the Audiencia Nacional issued on October 24, 2022 (see Note 25, Inspections of the tax group in Spain).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Other financial income" in 2022 included 139 million euros corresponding to the default interest as a result of the final decisions in favor of Telef&#xf3;nica Brazil about the right to deduct the ICMS from the calculation basis of PIS/COFINS (90 million euros and 85 million euros in 2021 and 2020, respectively, see Note 25).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"(Loss)/Gain on fair value hedges" includes mainly the impact on income of fair value hedges contracted by Telef&#xf3;nica, S.A., which are similarly reflected under "Gain/(loss) on adjustment to items hedged by fair value hedges" and therefore, have no significant net impact on the consolidated income statement. The increase in both items with respect to previous years is a consequence of the increase in interest rates. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The impact of hyperinflation on the net monetary position of the Group&#x2019;s subsidiaries in Argentina amounted to 39&#160;million euros in 2022 (25 million euros in 2021 and 43 million euros in 2020) and is recorded under Exchange differences in the consolidated income statement. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:12pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Evolution of derivative instruments    &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of the net position of derivatives during the years ended December 31, 2022 and December 31, 2021 is as follows:  &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.626%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.036%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.038%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Movement in 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Movement in 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Opening balance of assets/(liabilities)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,573&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financing payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;715&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financing proceeds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(89)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest (proceeds)/payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;283&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(91)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other (proceeds)/payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(17)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(31)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value adjustments through other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,031&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,733&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movements with counterparty in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,649)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(538)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;169&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;393&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Closing balance of assets/(liabilities)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,012&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,573&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The variation in 2022 represents a decrease of 561 million euros of asset (increase of 1,560 million euros of liability in 2021) mainly due to the increase in dollar and euro interest rates and the evolution of the EUR/USD exchange rate. These variations are mostly by a similar impact and in the opposite direction in the hedge accounting of the different issuances and loans in dollar and euro currency of the Telef&#xf3;nica Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As of December 31, 2022 the derivatives portfolio amount a net positive value of 1,012 million euros (a net positive value of 1,573 as of December 31, 2021). This amount includes a net positive value of 638 million euros due to hedges (cross currency swaps) to transfer financial debt issued in foreign currency to local currency (a positive value of 188 million euros at December 31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The calculation of the fair values of the Telef&#xf3;nica Group&#x2019;s debt instruments required an estimate, for each currency and counterparty, of a credit spread curve using the prices of the Group&#x2019;s bonds and credit derivatives. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The derivatives portfolio was measured through the techniques and models normally used in the market, based on money market curves and volatility prices available in the markets.  Additionally, the credit valuation adjustment or net CVA per counterparty (CVA+DVA) is calculated on that measurement as the method used to measure the credit risks of the counterparties and also Telef&#xf3;nica for the purpose of adjusting the fair value valuation of the derivatives. This adjustment reflects the possibility of bankruptcy or credit rating impairment of the counterparty and Telef&#xf3;nica. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Derivatives arranged by the Group at December&#160;31, 2022 are detailed in Appendix IV. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of Telef&#xf3;nica&#x2019;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:   &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.303%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.517%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.504%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.504%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.934%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.790%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.933%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional amount - Maturities &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Book value of the derivative and no-derivative instruments &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Later&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments of accounting hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,034)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;116&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(77)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,237&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,242&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,404)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(466)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,317&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;78&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,475)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(795)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,590)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,506)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(211)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(187)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;446&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;57&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(26)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(798)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,704)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,623)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(185)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(183)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;438&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,340)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;34&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,284&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,978&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,742)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;711&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;68&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,176)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;744&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,742)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(57)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;704&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,065)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;837&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;28&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(52)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,921)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,921)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(69)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,543&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,770&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(451)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;160&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(356)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,234&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,461&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(445)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(436)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undesignated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,964)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(479)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(525)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,363)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,331)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(264)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;706&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;267&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;463&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,539)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(688)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(525)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,363)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(264)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;631&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;324&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of exchange rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,132)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,132)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(179)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;145&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;707&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;916&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;173&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,998)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(363)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(602)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,874&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(89)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,668)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(712)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,023&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;345&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,012)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivatives instruments of accounting hedges &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; For interest rate hedges, the positive amount is in terms of "fixed payment.&#x201d; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.  &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Positive amounts indicate payables.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Of the hedging instruments that are not derivatives,141 million euros correspond to "Loans and other debts"" (see Note 18). &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.862%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.672%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.392%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.392%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.825%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.965%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional amount - Maturities &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Book value of the derivative and no-derivative instruments &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Later&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments of accounting hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(904)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;98&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,805&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,979&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,301)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(908)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,438&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;232&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,539)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(801)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,860)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,599)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(914)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(480)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,368)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,060&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(801)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,920)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,723)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(890)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(469)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,348)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,021)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,824&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,848&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,245)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(131)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,124&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;228&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,193&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,245)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(102)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;203&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(62)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(129)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,841&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,730&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(142)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(297)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(147)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;189&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;118&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,228&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(97)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(104)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(251)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(247)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(498)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(45)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(193)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undesignated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,254)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,187)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(303)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,982)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(471)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;397&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;127&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(963)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,283)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(303)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,787)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(244)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(55)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;170&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(121)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of exchange rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(740)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(370)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,110)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(214)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;142&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;449&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;466&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;915&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,274)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,091)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(205)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,567&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,003)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,772)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(995)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,835&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,573)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivatives instruments of accounting hedges &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; For interest rate hedges, the positive amount is in terms of "fixed payment.&#x201d; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.   &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Positive amounts indicate payables. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Of the hedging instruments that are not derivatives, 132 million euros correspond to "Loans and other debts" (see Note 18).  &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of hedged items by fair value hedges at December 31, 2022 and December 31, 2021 are as follows:&lt;/span&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.463%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.371%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.526%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.095%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.078%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.518%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.514%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.239%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.526%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.647%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.823%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Hedged items carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Accumulated amount in the hedged item adjusted by fair value hedge &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;250&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;265&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;30&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Receivables and other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other heading of assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,125&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,295&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,619&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,039&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(88)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;67&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,735&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,454&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,657&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(89)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(74)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;387&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;563&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;756&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;759&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and viceversa.&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.463%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.670%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.095%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.652%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.949%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.239%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.095%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.382%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Hedged items carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Accumulated amount in the hedged item adjusted by fair value hedge &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;226&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;226&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Receivables and other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other heading of assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,460&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,998&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,322&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;390&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,689&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,987&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,919&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,464&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,504&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;541&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;624&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; 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.&lt;/span&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The evolutions of hedges in equity at December 31, 2022 and December 31, 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.828%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.108%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.403%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.238%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.806%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.954%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:29pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Gross amount &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax effect&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total hedges in equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gains (losses) of cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:38pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate and interest rate risks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;247&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;705&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;607&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,235&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;612&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(743)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(284)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;820&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the initial value of hedged item&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(620)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(711)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;181&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(530)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;210&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;995&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity for continuing hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;826&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;290&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,087&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(80)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(92)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;210&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;995&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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).     &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.828%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.108%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.403%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.238%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.806%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.954%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Gross amount &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax effect&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total hedges in equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gains (losses) of cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:38pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate and interest rate risks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(443)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(523)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,061&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;941&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(295)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;646&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,473&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;445&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(353)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,594&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(396)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the initial value of hedged item&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(782)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(188)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(962)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,884)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,406)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #dbdbdb;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;247&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;705&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;607&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity for continuing hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;211&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(184)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;705&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;720&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(113)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;247&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;705&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;607&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The evolution of cost of hedging in equity in 2022 and 2021 are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:42.209%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.158%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.842%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.130%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.161%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total gross amount&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax effect &lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total cost of hedging in equity&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Forward element /CBS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;A time - period related hedge item&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(75)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(75)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(56)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(32)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; The details of the ineffective portion of accounting hedges with impact on the income statement in 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.147%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.963%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.813%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in fair value of the hedging instrument&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in the fair value of hedges item for the hedged risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Ineffective portion hedged registered in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,257)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,273)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;462&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;475&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;462&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;475&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(803)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(771)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(32)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.147%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.963%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.813%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in fair value of the hedging instrument&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in the fair value of hedges item for the hedged risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Ineffective portion hedged registered in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(142)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(143)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(150)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(150)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;960&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;994&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,510&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(550)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(550)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;412&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;418&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;412&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;418&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,230&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,269&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory>
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      unitRef="eur">978000000</ifrs-full:NominalAmountOfHedgingInstrument>
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      unitRef="eur">418000000</ifrs-full:NominalAmountOfHedgingInstrument>
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      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-5"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzc5NjY_c56b043b-6535-4909-b93d-b2ff277720bf"
      unitRef="eur">-200000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss>
    <ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjM4_6cf4bedf-f592-4a7e-8934-b0424f257439">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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%.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:3pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.181%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.999%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on the consolidated income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on consolidated equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;All currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(314)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(56)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin American currencies vs USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(210)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;All currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;314&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other currencies vs EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin American currencies vs USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:19.733%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Change in basis points (bp)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on consolidated income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on consolidated equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;+100bp&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;-100bp&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(61)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1.5pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk>
    <tef:SensitivityAnalysisIncreaseInExchangeRate
      contextRef="ic235aee57b1a4281bd76d3b8df53b41e_D20220101-20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzg3NDk_061168f5-75f8-481b-93c4-43db526045de"
      unitRef="number">0.10</tef:SensitivityAnalysisIncreaseInExchangeRate>
    <tef:SensitivityAnalysisIncreaseInExchangeRate
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    <ifrs-full:HedgingInstrumentLiabilities
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2NTIy_532bb790-dab1-4d55-8a6f-6fef440701d7"
      unitRef="eur">26687000000</ifrs-full:HedgingInstrumentLiabilities>
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    <ifrs-full:FinancialLiabilities
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE2NzEx_d8c0c9a5-ea42-4f9b-b714-4fc37889e11a"
      unitRef="eur">4020000000</ifrs-full:FinancialLiabilities>
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      decimals="-6"
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      decimals="-6"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzE4MDEz_bddb159a-f4a6-42b3-a715-e8e1073e4bb5"
      unitRef="eur">2462000000</ifrs-full:HedgingInstrumentLiabilities>
    <tef:PercentageOfNetFinancialDebtHeld
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      decimals="3"
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      unitRef="number">0.092</tef:PercentageOfNetFinancialDebtHeld>
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      unitRef="eur">652000000</tef:NetRepatriationOfFundsDividends>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzIyNDMw_e2b231d2-dcd6-4dea-a96a-0363ef4fb949"
      unitRef="eur">6657000000</ifrs-full:ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzIyNDQ4_80044b5b-eede-427e-bcea-58c2c601d538"
      unitRef="eur">6192000000</ifrs-full:ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts>
    <ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjQ2_7b3d6e1e-8177-4a3a-8608-f570fea07ab0">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:&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.502%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.098%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.100%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gross notional in original currency (in millions)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate index/Tenor&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD Libor 3M&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,947&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35,140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD Libor 1M&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD Libor 6M&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory>
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      unitRef="usd">35140000000</ifrs-full:NominalAmountOfHedgingInstrument>
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      unitRef="usd">0</ifrs-full:NominalAmountOfHedgingInstrument>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MjQ4_06f4ade2-f7a2-4e03-8354-cb4bb1ff2c96">&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of the financial results recognized in 2022, 2021 and 2020 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:48.181%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.710%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.999%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;384&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;191&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;185&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other financial income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;894&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;174&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subtotal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,303&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;379&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;356&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in fair value of asset derivatives at fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;377&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;255&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in fair value of liability derivatives at fair value through profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(861)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(507)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value of debt instruments and other assets at fair value to profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer from equity of results of cash flow hedges - future cash flows that are no longer expected to happen&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Loss)/Gain on fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,818)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(517)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;563&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain/(loss) on adjustment to items hedged by fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,763&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;527&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(525)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subtotal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(533)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;118&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest expenses &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,290)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,320)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial expenses on lease liabilities (see Note 20)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(393)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(274)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(193)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ineffective portion of cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accretion of provisions and other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;276&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(169)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(280)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other financial expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(317)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(137)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(131)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subtotal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,997)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,911)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,879)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net finance costs excluding foreign exchange differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,227)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,414)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,740)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfFinancialResultsTableTextBlock>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzEvZnJhZzpiZTI1NGRkNGM0MGU0N2M4YjhhZTZjNTI2MjVlYTI2ZC90ZXh0cmVnaW9uOmJlMjU0ZGQ0YzQwZTQ3YzhiOGFlNmM1MjYyNWVhMjZkXzQ2MTM0_fc854582-ed57-45f3-9a31-acbcd888ee88">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of the net position of derivatives during the years ended December 31, 2022 and December 31, 2021 is as follows:  &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.626%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.036%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.038%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Movement in 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Movement in 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Opening balance of assets/(liabilities)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,573&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financing payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;715&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financing proceeds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(89)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest (proceeds)/payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;283&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(91)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other (proceeds)/payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(17)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(31)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value adjustments through other comprehensive income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,031&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,733&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movements with counterparty in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,649)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(538)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;169&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;393&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Closing balance of assets/(liabilities)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,012&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,573&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of Telef&#xf3;nica&#x2019;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:   &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.303%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.517%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.504%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.504%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.934%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.790%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.933%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional amount - Maturities &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Book value of the derivative and no-derivative instruments &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Later&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments of accounting hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,034)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;116&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(77)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,237&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,242&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,404)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(466)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,317&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;78&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,475)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(795)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,590)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,506)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(211)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(187)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;446&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;57&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(26)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(798)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,704)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,623)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(185)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(183)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;438&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,340)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;34&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,284&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,978&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,742)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;711&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;68&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,176)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;744&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,742)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(57)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;704&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,065)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;837&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;28&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(52)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,921)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,921)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(69)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,543&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,770&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(451)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;160&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(356)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,234&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,461&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(445)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(66)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(436)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undesignated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,964)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(479)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(525)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,363)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,331)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(264)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;706&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;267&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;463&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,539)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(688)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(525)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,363)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(264)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;631&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;324&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of exchange rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,132)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,132)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(179)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;145&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;707&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;916&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;173&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,998)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(363)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(602)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,874&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(89)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,668)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(712)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,023&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;345&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,012)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivatives instruments of accounting hedges &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;141&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; For interest rate hedges, the positive amount is in terms of "fixed payment.&#x201d; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.  &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Positive amounts indicate payables.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Of the hedging instruments that are not derivatives,141 million euros correspond to "Loans and other debts"" (see Note 18). &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.862%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.672%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.384%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.520%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.392%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.392%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.825%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.965%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="36" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional amount - Maturities &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Book value of the derivative and no-derivative instruments &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Later&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current asset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments of accounting hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(904)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;98&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,805&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,979&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,301)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(908)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,438&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;232&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,539)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(801)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,860)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,599)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(914)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(480)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,368)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,060&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(801)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,920)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,723)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(890)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(469)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,348)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,021)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,824&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,848&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,245)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(131)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,124&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;228&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(24)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,193&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,245)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(102)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(128)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;203&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5,548)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(62)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(129)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;80&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,841&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,730&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(142)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(297)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;292&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(147)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;189&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;118&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,228&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(97)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(104)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(251)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(247)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(498)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(45)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(193)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undesignated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,254)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,187)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(303)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,982)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(471)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;397&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;127&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(963)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,283)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(303)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,787)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(244)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(55)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;170&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(121)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives of exchange rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(740)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(370)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,110)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(214)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;142&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;449&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;466&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;915&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,274)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,091)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(205)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,567&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,003)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,772)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(995)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,835&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,573)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivatives instruments of accounting hedges &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;132&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investments hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; For interest rate hedges, the positive amount is in terms of "fixed payment.&#x201d; For foreign currency hedges, a positive amount means payment in functional vs. foreign currency.   &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(**)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Positive amounts indicate payables. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(***)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Of the hedging instruments that are not derivatives, 132 million euros correspond to "Loans and other debts" (see Note 18).  &lt;/span&gt;&lt;/div&gt;The detail of hedged items by fair value hedges at December 31, 2022 and December 31, 2021 are as follows:&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.463%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.371%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.526%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.095%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.078%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.518%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.514%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.239%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.526%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.647%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.823%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Hedged items carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Accumulated amount in the hedged item adjusted by fair value hedge &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;250&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;265&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;30&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Receivables and other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other heading of assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,125&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,295&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,619&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,039&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(88)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(38)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;67&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,735&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,454&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,657&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(89)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(74)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;387&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;563&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;756&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;759&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(16)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Accumulated amount adjusted by fair value hedge is shown with negative sign when it reduces the value (lowest liability or lowest asset) and viceversa.&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.463%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.670%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.095%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.652%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.949%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.239%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.095%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.382%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="33" style="border-bottom:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Hedged items carrying amount&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Accumulated amount in the hedged item adjusted by fair value hedge &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%"&gt;Of which: accumulated amount of any hedge item that have cesased to be adjusted for gains and losses&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;226&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;226&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Receivables and other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Other heading of assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,460&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,998&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,322&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(23)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;390&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,689&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,987&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;558&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,919&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,464&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,309&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,504&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;541&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;624&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Payables and other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; 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.&lt;/span&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The evolutions of hedges in equity at December 31, 2022 and December 31, 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.828%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.108%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.403%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.238%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.806%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.954%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:29pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Gross amount &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax effect&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total hedges in equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gains (losses) of cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:38pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate and interest rate risks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;247&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;705&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;607&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,235&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;612&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(743)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #86888c;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,104&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(284)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #86888c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;820&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #86888c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the initial value of hedged item&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(620)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(711)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;181&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(530)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;210&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;995&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;725&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity for continuing hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;826&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;290&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,087&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(80)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(92)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(37)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;210&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;995&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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).     &lt;/span&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.828%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.108%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.252%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:0.807%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.403%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.238%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.806%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.954%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="12" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No derivative instruments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Gross amount &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax effect&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total hedges in equity&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Gains (losses) of cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:0 1pt"/&gt;&lt;td colspan="3" rowspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No Derivatives - Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:38pt"&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate and interest rate risks&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(443)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(523)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,061&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;941&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(295)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;646&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,473&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;445&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(353)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,594&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(396)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the initial value of hedged item&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged future cash flows are no longer expected to happen&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(782)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(188)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(962)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,884)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,406)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #dbdbdb;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;247&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;705&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1.5pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;607&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(170)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;437&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity for continuing hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;211&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(184)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;705&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;720&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts remaining in equity from any hedging relationship for which hedge accounting is no longer applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(63)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #d4d4d4;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(113)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #d4d4d4;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #d4d4d4;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;247&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(270)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;705&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;607&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The evolution of cost of hedging in equity in 2022 and 2021 are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:42.209%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.158%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.842%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.130%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.161%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:14pt"&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total gross amount&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax effect &lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" rowspan="3" style="border-top:1pt solid #b7b7b7;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total cost of hedging in equity&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Forward element /CBS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;A time - period related hedge item&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(75)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(75)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(56)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;128&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(32)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in the fair value registered in equity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfer to the income statement of the period - the hedged item has affected profit or loss&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(25)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; The details of the ineffective portion of accounting hedges with impact on the income statement in 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.147%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.963%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.813%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in fair value of the hedging instrument&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in the fair value of hedges item for the hedged risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Ineffective portion hedged registered in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,257)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,238)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,273)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;462&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;475&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;462&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;475&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(803)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(771)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(32)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:center"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.147%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.963%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.813%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in fair value of the hedging instrument&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Changes in the fair value of hedges item for the hedged risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Ineffective portion hedged registered in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(142)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(143)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fair value hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(150)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(150)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;960&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;994&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,510&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,544&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net investment hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(550)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(550)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate and exchange rate risk&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;412&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;418&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash flow hedges&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;412&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;418&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,230&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,269&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfFairValueOfDerivativeInstrumentsAndExpectedMaturityTableTextBlock>
    <tef:DerivativeAssetLiabilityNet
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      decimals="-6"
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      unitRef="eur">715000000</tef:FinancingPaymentsofFinancialInstruments>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzI2NzM_0a56fb89-4223-4b13-aa19-e59bc690dfac">Lease liabilities&lt;div style="margin-bottom:9pt;padding-right:2.25pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The evolution of lease liabilities in 2022 and 2021 were as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.203%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.597%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,070&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,487&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal and interests payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,361)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,996)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interests payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(365)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="padding-left:0.75pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accrued interests&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;393&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;246&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(223)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,677&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.203%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.597%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,294&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,030&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of the towers division of Telxius&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,650&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal and interests payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,859)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,782)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interests payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Minus: Payments of companies held for sale and sold companies during 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;169&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(288)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="padding-left:0.75pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accrued interests &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;259&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,070&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Total accrued interests in 2021 amounted to 274 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 19).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Additions" includes fixed asset sale and leaseback transactions, which amounted to 125 million euros in 2022 (51 million euros in 2021). The gain recorded in 2022 and 2021 for sale and leaseback transactions amounted to 381 million euros and 263 million euros, respectively (see Note 26).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Business combinations" in 2022 include 117 million euros of lease liabilities related to the acquisition of rights of use of Oi (see Note 29), as well as, 2 and 5 million euros for the incorporation of the Incremental group and the BE-terna group, respectively (see Note 2 and 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Business combinations" in 2021 corresponded to the acquisition of Cancom (see Note 5) amounted to 14 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;There are commitments for leases not started at December 31, 2022 amounting to 1,569 million euros, mainly related to the sites construction agreement between Telef&#xf3;nica Germany GmbH and Telxius Towers Germany GmbH (at December 31, 2021 1,307 million euros). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In 2021 Telxius sold its telecommunications towers division to American Tower Corporation (see Note 2). The Telef&#xf3;nica Group operators maintained the leases agreements of the towers signed with the companies sold subsidiaries of Telxius. Consequently, as of the closing date of the transactions, lease liabilities were recorded in the consolidated statement of financial position in the amount of 2,775 million euros. &#x201c;Sale of the towers division of &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Telxius&#x201d; also includes the recognition of lease liabilities with third parties corresponding to the second phase of the sale agreement between Telefonica Germany and ATC in the amount of 125 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Transfers and others" in 2022 includes the reclassification of lease liabilities on the shutdown site contracts of Pegaso PCS amounting to 264 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Transfers and others" in 2021 included the reclassification of lease liabilities of Telef&#xf3;nica El Salvador amounted to 43 million euros to "Liabilities associated with non-current assets and disposal groups held for sale" of the statement of financial position (see Note 30). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The maturity schedule of lease liabilities at December 31, 2022 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.600%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.600%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.436%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-Current&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,107&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,413&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,064&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;851&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,173&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,201&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,308&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLeasesExplanatory>
    <ifrs-full:ExplanationOfDifferenceBetweenOperatingLeaseCommitmentsDisclosedApplyingIAS17AndLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16Explanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzI2NzU_aa046359-205d-4683-bfb5-8fb8415fff6f">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The evolution of lease liabilities in 2022 and 2021 were as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.203%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.597%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,070&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,487&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal and interests payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,361)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,996)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interests payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(365)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="padding-left:0.75pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accrued interests&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;393&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;246&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(223)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,677&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.203%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.597%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,294&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,030&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of the towers division of Telxius&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,650&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal and interests payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,859)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Principal payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,782)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interests payments (Note 28)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Minus: Payments of companies held for sale and sold companies during 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;169&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(288)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="padding-left:0.75pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accrued interests &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;259&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 1.75pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(59)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,070&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Total accrued interests in 2021 amounted to 274 million euros, including the additions corresponding to companies held for sale and sold companies during the annual reporting period (see Note 19).&lt;/span&gt;</ifrs-full:ExplanationOfDifferenceBetweenOperatingLeaseCommitmentsDisclosedApplyingIAS17AndLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16Explanatory>
    <ifrs-full:LeaseLiabilities
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzEtMS0xLTEtNTEwNDQy_8eed7a6e-4f78-42dd-be14-3f88872e2461"
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    <tef:AdditionstoLeaseLiabilities
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzItMS0xLTEtNTEwNDQy_ab2a91d1-8bc7-4d8c-8970-37d7b2be30e0"
      unitRef="eur">2487000000</tef:AdditionstoLeaseLiabilities>
    <tef:PrincipalandInterestPaymentsofLeaseLiabilities
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzQtMS0xLTEtNTEwNDQy_23a4f7e0-1039-4f9c-8952-a1f90622bcac"
      unitRef="eur">2361000000</tef:PrincipalandInterestPaymentsofLeaseLiabilities>
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      unitRef="eur">1996000000</tef:PrincipalPaymentsonLeases>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzYtMS0xLTEtNTEwNDQy_2d7c4546-6bde-4a4c-b8b4-4fec6b624dc6"
      unitRef="eur">365000000</ifrs-full:InterestExpenseOnLeaseLiabilities>
    <tef:DisposalsofLeaseLiabilities
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzgtMS0xLTEtNTEwNDQy_615ce712-0b11-4f89-b1d8-74280b11b4e3"
      unitRef="eur">59000000</tef:DisposalsofLeaseLiabilities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzktMS0xLTEtNTEwNDQy_14335240-a76c-4013-af74-aeadf6da78cb"
      unitRef="eur">124000000</tef:RegistrationOfCompaniesLeaseLiabilities>
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      unitRef="eur">393000000</tef:AccruedInterestsofLeaseLiabilities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZTphMTk4YmM5MGU0OWI0NDcxOGQ4YzAxZTRlYmI2ZTk0OS90YWJsZXJhbmdlOmExOThiYzkwZTQ5YjQ0NzE4ZDhjMDFlNGViYjZlOTQ5XzExLTEtMS0xLTUxMDQ0Mg_6639547c-7aad-449c-9da1-9a3d9d95b5cc"
      unitRef="eur">246000000</tef:TranslationDifferencesofLeaseLiabilities>
    <tef:TransfersandOthersofLeaseLiabilities
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      unitRef="eur">223000000</tef:TransfersandOthersofLeaseLiabilities>
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      unitRef="eur">8677000000</ifrs-full:LeaseLiabilities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE2NDkyNjc0NTE2Nzc_a0e9825a-b29d-4339-9f8d-b5b6d7fef4f9"
      unitRef="eur">1307000000</tef:ExposureArisingFromLeasesNotYetCommencedToWhichLesseeIsCommitted>
    <ifrs-full:LeaseLiabilities
      contextRef="i9cf7fdb3eca34ead9fda409db6e18c36_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTgxNjE_25f603f4-9241-4423-8f84-21e71eff6d91"
      unitRef="eur">2775000000</ifrs-full:LeaseLiabilities>
    <tef:AdditionOfLeaseLiabilitiesSaleOfDivisions
      contextRef="i0590d61d5feb427598ae3ba9c52c9aa5_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTgxNjk_d502857e-09bb-4909-96d6-41b2f0f86014"
      unitRef="eur">125000000</tef:AdditionOfLeaseLiabilitiesSaleOfDivisions>
    <tef:TransfersandOthersofLeaseLiabilities
      contextRef="id904fb1691d94083bfc0349f12447a8b_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzE2NDkyNjc0NTA3MDc_8dba61f2-4cc0-484e-8a6e-112e27ae6833"
      unitRef="eur">264000000</tef:TransfersandOthersofLeaseLiabilities>
    <tef:TransfersandOthersofLeaseLiabilities
      contextRef="ice4936c5db8d43aea61f72ce78e0fa1a_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzQzOTgwNDY1MTgxOTg_20ff3f9a-9989-4f75-8381-fc6acf3476f7"
      unitRef="eur">43000000</tef:TransfersandOthersofLeaseLiabilities>
    <ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90ZXh0cmVnaW9uOjEzMjlkZDRjMDdkZDQ4ZDFiZjAwYzFkMzllODg2YWRlXzI2NjQ_f0e359ad-c725-40de-b8bf-fb75ccc32b04">&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The maturity schedule of lease liabilities at December 31, 2022 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-right:2.25pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.929%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.600%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.600%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.436%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-Current&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt;text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,107&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,413&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,064&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;851&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,173&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,201&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,308&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="i44343f125a1e48be9f9c0e7838a0d1b7_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtMS0xLTEtNTEwNDQy_0a1c70a3-228b-4f3e-b192-e9f2cb643fc9"
      unitRef="eur">2107000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="i225ee7f614314387a2ab4389ebd1488f_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtMi0xLTEtNTEwNDQy_36c4354a-ac01-4ff1-953c-128150cf8e69"
      unitRef="eur">1700000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="ifd9484f117584541b944172ff01837e6_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtMy0xLTEtNTEwNDQy_2c65e3fb-4217-498b-bf19-9194556f5a5c"
      unitRef="eur">1413000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="i2b6eb3bbabb6445984a7bedd7e80fad6_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNC0xLTEtNTEwNDQy_216ed94e-f3d3-4a3f-9620-578c52903040"
      unitRef="eur">1064000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="i4f1f7d197c8540af957db739a0d0d910_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNS0xLTEtNTEwNDQy_d268426c-2217-413f-928c-de17b64a7aed"
      unitRef="eur">851000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="ib70fde8ff1bf43639c7e96d04ca1df7b_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNi0xLTEtNTEwNDQy_5a83b4cd-d17a-4f92-bc91-e85924560a6b"
      unitRef="eur">2173000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="i50b8a3907abb40249e04f138ad89cd0b_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtNy0xLTEtNTEwNDQy_d2c92ed7-3aac-4a39-b5a1-e334ef9bac97"
      unitRef="eur">7201000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzQvZnJhZzoxMzI5ZGQ0YzA3ZGQ0OGQxYmYwMGMxZDM5ZTg4NmFkZS90YWJsZToxMTAxOTM3ZmI4YmY0ZWJlYmU3NTEzNTlkM2U3OWEzZi90YWJsZXJhbmdlOjExMDE5MzdmYjhiZjRlYmViZTc1MTM1OWQzZTc5YTNmXzMtOC0xLTEtNTEwNDQy_d2bf8c76-b66f-49cf-ad52-390a153b7377"
      unitRef="eur">9308000000</ifrs-full:UndiscountedOperatingLeasePaymentsToBeReceived>
    <ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE4NTg_7d6d0d0c-3a0f-4f1f-bf94-5bd577874fab">Payables and other non-current liabilities&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of &#x201c;Payables and other non-current liabilities&#x201d; of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:71.627%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.537%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,914&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,733&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;463&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables for spectrum acquisition&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,293&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,361&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;158&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,632&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,356&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred revenue&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current tax payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;542&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;310&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,546&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,089&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Non-currrent debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:71.627%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.537%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Colombia &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;243&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;990&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,293&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,361&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The outstanding liabilities at December 31, 2022 from the acquisition of spectrum licenses by Telef&#xf3;nica Brazil in November 2021 (see Note 6) amounted to 1,844 million Brazilian real (331 million euros) including 1,192 million Brazilian reais (214 million euros) are classified as non-current. At December 31, 2021, outstanding liabilities amounted to 4,451 million Brazilian reais (704 million euros at exchange rate of 2021), including 1,704 million Brazilian reais (270 million euros at closing exchange rate of 2021) were classified as non-current.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In June 2019 Telef&#xf3;nica Germany acquired a total of 90 MHz spectrum at a cost of 1,425 milli&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;on euros. The Company, like the other auction participants, reached an agreement to defer payments in interest-free annual installments until 2030, instead of an upfront one-time payment (see Appendix VI). In 2022 and 2021, payments amounting to 108 million euros have been made each year (see Note 28). The current value of the debt at December 31, 2022 amounted to 998 million euros (1,097 million euros at December 31, 2021), 891&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;million euros have a maturity of more than twelve months (990 million euros at December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Payments for financed licenses for the years 2022 and 2021 amounted to 657 and 165 million euros, respectively (see Note 28).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Deferred revenues&#x201d; include grants amounting to 53 million euros at December 31, 2022 (55 million euros at December 31, 2021).&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory>
    <tef:DisclosureoftheCompositionofPayablesandOtherNonCurrentLiabilitiesTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE4ODc_6ebc183d-2a5a-4ab7-8256-3b7461cfe54e">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of &#x201c;Payables and other non-current liabilities&#x201d; of the Telef&#xf3;nica Group at December 31, 2022 and December 31, 2021 is as follows:  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:71.627%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.537%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,914&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,733&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;463&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables for spectrum acquisition&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,293&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,361&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;158&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,632&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,356&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred revenue&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current tax payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;542&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;310&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,546&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,089&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureoftheCompositionofPayablesandOtherNonCurrentLiabilitiesTableTextBlock>
    <ifrs-full:NoncurrentPayables
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEtMS0xLTEtNTEwNDQy_49720956-26cc-46cf-8895-17dff0a4ce93"
      unitRef="eur">1914000000</ifrs-full:NoncurrentPayables>
    <ifrs-full:NoncurrentPayables
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90YWJsZToxZGFhMjVkZWUyMjQ0OTRkODI0NjQ2NzE4OWQ1ZDIwOS90YWJsZXJhbmdlOjFkYWEyNWRlZTIyNDQ5NGQ4MjQ2NDY3MTg5ZDVkMjA5XzEtMi0xLTEtNTEwNDQy_4d11f1f1-f0a1-4216-be00-3174a473f28f"
      unitRef="eur">1733000000</ifrs-full:NoncurrentPayables>
    <ifrs-full:NoncurrentPayablesToTradeSuppliers
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style="width:1.0%"/&gt;&lt;td style="width:12.537%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Colombia &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;243&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;292&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;990&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,293&lt;/span&gt;&lt;span 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzExMjM_7b45bb80-2b23-4ccc-ada3-9b6da2b8b0ae"
      unitRef="eur">108000000</tef:PaymentOnBorrowings>
    <tef:PaymentOnBorrowings
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzExMjM_d6d452e4-4029-4560-b099-5b6b9316935c"
      unitRef="eur">108000000</tef:PaymentOnBorrowings>
    <ifrs-full:Borrowings
      contextRef="i1db46ee56cb24cd5be0a98ce03c08898_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEyNDc_f5d68d61-cb24-4354-a74f-6a7872248bbe"
      unitRef="eur">998000000</ifrs-full:Borrowings>
    <ifrs-full:Borrowings
      contextRef="ic039c794a7dd4720b082710f944f3f5e_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEyNjU_54ba6b39-43f5-4595-81af-6fdf7cdf0ab7"
      unitRef="eur">1097000000</ifrs-full:Borrowings>
    <ifrs-full:LongtermBorrowings
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEyOTA_687a8f3e-7cc5-473e-86b1-b3e09a0e086c"
      unitRef="eur">891000000</ifrs-full:LongtermBorrowings>
    <ifrs-full:LongtermBorrowings
      contextRef="ic039c794a7dd4720b082710f944f3f5e_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzEzNTE_42159943-5ae4-46ac-b7bb-558aca63fc7a"
      unitRef="eur">990000000</ifrs-full:LongtermBorrowings>
    <tef:PaymentOnBorrowings
      contextRef="i06bb91b9833a4f5ea7df71f5f9c3568d_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE2NjU_b66887e6-271d-41e9-b965-60306b4987cb"
      unitRef="eur">657000000</tef:PaymentOnBorrowings>
    <tef:PaymentOnBorrowings
      contextRef="id2f0ec7853814ac69762ab6fc450f027_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE2NzI_43563045-c56e-4da3-a03d-fa0f06789492"
      unitRef="eur">165000000</tef:PaymentOnBorrowings>
    <ifrs-full:NoncurrentGovernmentGrants
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE3Njc_436931f4-b9b9-40ea-a873-cee931ec36e6"
      unitRef="eur">53000000</ifrs-full:NoncurrentGovernmentGrants>
    <ifrs-full:NoncurrentGovernmentGrants
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zMzcvZnJhZzo2YTQ0NTMxMGE0YjM0ZGM0YmI2YTRkMWYyNDViZDZjYi90ZXh0cmVnaW9uOjZhNDQ1MzEwYTRiMzRkYzRiYjZhNGQxZjI0NWJkNmNiXzE4MDQ_097e21db-9542-4a44-9145-d12c60ff8b63"
      unitRef="eur">55000000</ifrs-full:NoncurrentGovernmentGrants>
    <ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxMzI_cf702d0c-7bc2-4de5-9b0f-27f7eb9da00b">Payables and other current liabilities&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of &#x201c;Payables and other current liabilities&#x201d; at December 31, 2022 and December 31, 2021 is as follows:  &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,018&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,872&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,545&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,982&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to suppliers of property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables for spectrum acquisition&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;248&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;569&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,088&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;997&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends pending payment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;203&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;228&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;93&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,491&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,338&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contract liabilities (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,038&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;958&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred revenue &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;102&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Advances received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;265&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other liabilities to associates and joint ventures (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,509&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,210&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Current debt for spectrum acquisition" as of December 31, 2022 and December 31, 2021, is detailed below:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:71.627%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.537%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Colombia &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;434&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;248&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;569&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022 and December 31, 2021, &#x201c;Payables for spectrum acquisition&#x201d;, includes the debt maturing within twelve months of the spectrum licenses in Telef&#xf3;nica Brazil adquired in November 2021 and the spectrum licenses in Telef&#xf3;nica Germany adquired in June 2019 (see Note 21). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Payables to associates and joint ventures" at December 31, 2021 included the obligation in relation to the O2 UK pension plans arising as a result of the constitution of VMED O2 UK Ltd amounted to 213 million pounds sterling (253 million euros at closing exchange rate of 2021, see Notes 10 and 29.c).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Deferred revenue&#x201d; includes grants amounting to 17 million euros at December 31, 2022 (12 million euros at December 31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of current "Other payables" at December&#160;31, 2022 and December&#160;31, 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:41.798%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.450%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.452%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accrued employee benefits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;608&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;516&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other non-financial non-trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;480&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;481&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,088&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;997&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Information on average payment period to suppliers. Third additional provision, &#x201c;Information requirement&#x201d; of Law 15/2010 of July 5, modified by Law 18/2022, of September 28. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In accordance with the aforementioned Law 15/2010, the following information corresponding to the Spanish companies of the Telef&#xf3;nica Group is disclosed:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.147%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.129%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.424%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Weighted average maturity period&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;53&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;54&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ratio of payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ratio of outstanding invoices&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,362&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,671&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Outstanding invoices&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,251&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,264&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 19, 2022, Law 18/2022, of September 28, on the creation and growth of companies, came into force, which modifies the third additional provision of Law 15/2010. The new standard establishes the obligation to publish in annual accounts, in addition to the information already required, the monetary volume and number of invoices paid in a period less than the maximum established in the late payment regulations, and the percentage they represent of the total number of invoices and on the total monetary payments to your suppliers. This information for the 2022 financial year is shown below:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.701%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.099%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Monetary volume of invoices paid in a period less than the maximum established in the regulations (millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,899&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Percentage of total payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;59&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Number of invoices paid in a period less than the maximum established in the regulations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;157,523&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Percentage of the total number of invoices paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;54&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group&#x2019;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 2022 included payment periods of up to 60 days, according to the terms agreed between the parties. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For efficiency purposes and in line with general business practices, Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Payments to Spanish suppliers in 2022 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. &lt;/span&gt;&lt;/div&gt;The average payment period to suppliers of the Telef&#xf3;nica Group&#x2019;s companies in Spain in 2022, calculated in accordance with the only additional provision of the Resolution of the Instituto de Contabilidad y Auditor&#xed;a de Cuentas (Spanish Accounting and Audit Institute) of January 29, 2016, amounted to 53 days (54 days in 2021).</ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory>
    <tef:ScheduleOfCompositionOfPayablesAndOtherCurrentLiabilitiesTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxNTc_2bea81ad-b0e9-4a82-b83e-d3e31cd131f1">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The composition of &#x201c;Payables and other current liabilities&#x201d; at December 31, 2022 and December 31, 2021 is as follows:  &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,018&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,872&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,545&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,982&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to suppliers of property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,841&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,752&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables for spectrum acquisition&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;248&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;569&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,088&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;997&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends pending payment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;203&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;228&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables to associates and joint ventures (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;93&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;344&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,491&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,338&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contract liabilities (Note 23)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,038&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;958&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred revenue &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;102&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Advances received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;265&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other liabilities to associates and joint ventures (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,509&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,210&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:ScheduleOfCompositionOfPayablesAndOtherCurrentLiabilitiesTableTextBlock>
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style="width:1.0%"/&gt;&lt;td style="width:12.537%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Colombia &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;434&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;248&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;569&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:ScheduleOfCurrentPortionOfLongTermDebtTableTextBlock>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzExNjA_d0cc8cc6-544d-4405-884c-d32edc48d234"
      unitRef="gbp">213000000</ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties>
    <ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties
      contextRef="i8ebbddc0bd2b4aa8acc0ac65bd259b16_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzExODg_745d56b7-d789-4411-9230-89dbdd150b23"
      unitRef="eur">253000000</ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties>
    <ifrs-full:CurrentGovernmentGrants
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzEzMTA_6a235121-7ada-4c2a-9404-bebfd9b4ae7f"
      unitRef="eur">17000000</ifrs-full:CurrentGovernmentGrants>
    <ifrs-full:CurrentGovernmentGrants
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzEzMzQ_c9da72dc-d509-4da0-81ab-d2229fefdb4c"
      unitRef="eur">12000000</ifrs-full:CurrentGovernmentGrants>
    <tef:DisclosureOfCurrentOtherPayablesTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxNTM_a50a80a9-18b2-4c93-93e4-a53d34b59141">The composition of current "Other payables" at December&#160;31, 2022 and December&#160;31, 2021 is as follows:&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:41.798%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.450%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.452%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accrued employee benefits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;608&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;516&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other non-financial non-trade payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;480&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;481&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:10pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,088&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;997&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureOfCurrentOtherPayablesTableTextBlock>
    <ifrs-full:ShorttermEmployeeBenefitsAccruals
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzEtMS0xLTEtNTEwNDQy_19907588-82dc-44d0-a1c7-ddcd963baf5a"
      unitRef="eur">608000000</ifrs-full:ShorttermEmployeeBenefitsAccruals>
    <ifrs-full:ShorttermEmployeeBenefitsAccruals
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzEtMi0xLTEtNTEwNDQy_42df11bd-8105-4a93-b848-b3dfd9692b39"
      unitRef="eur">516000000</ifrs-full:ShorttermEmployeeBenefitsAccruals>
    <tef:OtherCurrentNonFinancialNonTradePayables
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzItMS0xLTEtNTEwNDQy_f34e37bf-808e-47f8-bf26-edb93758ea0e"
      unitRef="eur">480000000</tef:OtherCurrentNonFinancialNonTradePayables>
    <tef:OtherCurrentNonFinancialNonTradePayables
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzItMi0xLTEtNTEwNDQy_b990c376-ae6d-4eab-8dff-d3fbc94a940c"
      unitRef="eur">481000000</tef:OtherCurrentNonFinancialNonTradePayables>
    <ifrs-full:OtherCurrentPayables
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzMtMS0xLTEtNTEwNDQy_fc74c943-3fb9-475c-abd5-92434f7f443c"
      unitRef="eur">1088000000</ifrs-full:OtherCurrentPayables>
    <ifrs-full:OtherCurrentPayables
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo5M2VlOWJmZWYwNTA0NGE2YjNhOGFmOWQ0ODQ0YjYxZS90YWJsZXJhbmdlOjkzZWU5YmZlZjA1MDQ0YTZiM2E4YWY5ZDQ4NDRiNjFlXzMtMi0xLTEtNTEwNDQy_69e9f5bc-3c7f-44a7-87fe-c159877bd502"
      unitRef="eur">997000000</ifrs-full:OtherCurrentPayables>
    <tef:DisclosureOfAveragePaymentPeriodToSuppliersTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxNjE_4a9824aa-daae-4155-9493-ee4733289ff7">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In accordance with the aforementioned Law 15/2010, the following information corresponding to the Spanish companies of the Telef&#xf3;nica Group is disclosed:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:56.147%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.129%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.424%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of days&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Weighted average maturity period&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;53&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;54&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ratio of payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ratio of outstanding invoices&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,362&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,671&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Outstanding invoices&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,251&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #b7b7b7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,264&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfAveragePaymentPeriodToSuppliersTableTextBlock>
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    <tef:RatioOfPayments
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    <tef:RatioOfPayments
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    <tef:RatioOfOutstandingInvoices
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    <tef:RatioOfOutstandingInvoices
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    <ifrs-full:PaymentsToSuppliersForGoodsAndServices
      contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzYtMS0xLTEtNTEwNDQy_9e4818b2-7621-435d-9917-81f770923a6d"
      unitRef="eur">8362000000</ifrs-full:PaymentsToSuppliersForGoodsAndServices>
    <ifrs-full:PaymentsToSuppliersForGoodsAndServices
      contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzYtMi0xLTEtNTEwNDQy_fd6ca0ef-4718-4869-84f8-a8958114e66f"
      unitRef="eur">7671000000</ifrs-full:PaymentsToSuppliersForGoodsAndServices>
    <tef:OutstandingInvoicesFromSuppliers
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzctMS0xLTEtNTEwNDQy_fd2bb1a0-24b1-4ed5-841b-a2af9fae94e3"
      unitRef="eur">1251000000</tef:OutstandingInvoicesFromSuppliers>
    <tef:OutstandingInvoicesFromSuppliers
      contextRef="i6db5de5636b34b3888ce27d8110c2b8f_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTowOWM4ZjQzZTdkNjg0MzUxOThmNzczOGJiMzkxYjVhYS90YWJsZXJhbmdlOjA5YzhmNDNlN2Q2ODQzNTE5OGY3NzM4YmIzOTFiNWFhXzctMi0xLTEtNTEwNDQy_30f502fd-48ee-4a90-af0d-73e9b0bed281"
      unitRef="eur">1264000000</tef:OutstandingInvoicesFromSuppliers>
    <tef:ScheduleOfChangesInProvisionLaw182022TableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzI3NDg3NzkwNzg2MTk_6da1fb03-4f5a-44fb-8255-9cacfb3dc321">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 19, 2022, Law 18/2022, of September 28, on the creation and growth of companies, came into force, which modifies the third additional provision of Law 15/2010. The new standard establishes the obligation to publish in annual accounts, in addition to the information already required, the monetary volume and number of invoices paid in a period less than the maximum established in the late payment regulations, and the percentage they represent of the total number of invoices and on the total monetary payments to your suppliers. This information for the 2022 financial year is shown below:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:77.701%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:20.099%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Monetary volume of invoices paid in a period less than the maximum established in the regulations (millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,899&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Percentage of total payments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;59&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Number of invoices paid in a period less than the maximum established in the regulations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;157,523&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Percentage of the total number of invoices paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;54&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:ScheduleOfChangesInProvisionLaw182022TableTextBlock>
    <ifrs-full:PaymentsToSuppliersForGoodsAndServices
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzEtMS0xLTEtODk2Njg3_ea183f0b-32e1-487b-ac8d-c3a37507cefe"
      unitRef="eur">4899000000</ifrs-full:PaymentsToSuppliersForGoodsAndServices>
    <tef:PaymentsToSuppliersForGoodsAndServicesToTotalPercentage
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzItMS0xLTEtODk2Njg3_f40511bb-0fc7-4bf8-85f3-5517a800fafa"
      unitRef="number">0.59</tef:PaymentsToSuppliersForGoodsAndServicesToTotalPercentage>
    <tef:NumberOfInvoicesPaymentsToSuppliersForGoodsAndServices
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      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzMtMS0xLTEtODk2Njg3_4aed4e16-9323-4799-bec5-58ec28755a52"
      unitRef="invoice">157523</tef:NumberOfInvoicesPaymentsToSuppliersForGoodsAndServices>
    <tef:NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage
      contextRef="i2d261dddf85d47fa87ad21cd6261f565_D20220101-20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90YWJsZTo0MGIwMDQ2OGEzMWI0MzA2ODg1ZjRhYWE1MWMxZDI1OS90YWJsZXJhbmdlOjQwYjAwNDY4YTMxYjQzMDY4ODVmNGFhYTUxYzFkMjU5XzQtMS0xLTEtODk2Njg3_03650392-631f-4064-8da6-572effdb2ace"
      unitRef="number">0.54</tef:NumberOfInvoicesPaymentsToSuppliersForGoodsAndServicesToTotalPercentage>
    <tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers
      contextRef="ic5ac1659711e4d2ca98094c443c804b2_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzc2OTY1ODE0MDM1NzM_254356d9-800b-45e4-af7e-42d4a2ca72ff">P53D</tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers>
    <tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers
      contextRef="i2a886f9ff8ef4da4acf20b752dc7fb06_D20210101-20211231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDAvZnJhZzo3MDc2NDMxNDFjNDk0ZTM2YjEwMmM3MWZiY2U2YTU0MS90ZXh0cmVnaW9uOjcwNzY0MzE0MWM0OTRlMzZiMTAyYzcxZmJjZTZhNTQxXzMxMjI_cf9647a3-247e-4248-ae54-f4a4d10a280c">P54D</tef:WeightedAverageMaturityPeriodPaymentPeriodToSuppliers>
    <ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNTc_9cd01db6-1932-4474-983f-691421f4aeae">Breakdown of contractual assets and liabilities, and capitalized costs&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of contractual assets and capitalized costs in 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;and&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2021 is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.034%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term contractual assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;261&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term contractual assets (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;294&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(337)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;100&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;295&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(340)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;342&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;555&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(349)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;554&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.432%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.128%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.036%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term contractual assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;145&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;113&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;146&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term contractual assets (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;104&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;180&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;48&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;182&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(201)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;249&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;293&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;342&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of the deferred expenses in 2021 and 2020 is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.654%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current capitalized costs (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;555&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;820&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(547)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;854&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;371&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;671&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(447)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;149&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;244&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current capitalized costs (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;668&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;630&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(987)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;547&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;885&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;509&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(801)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;448&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;710&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;131&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(186)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;175&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,450&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(989)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,739&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.122%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.788%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.303%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.015%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current capitalized costs (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;331&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;631&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(401)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;555&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;212&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;496&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(334)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;371&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(67)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current capitalized costs (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;489&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(799)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;400&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;668&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;388&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(653)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;333&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;111&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(146)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;131&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;911&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,120&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(799)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:11pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;In 2020, the Group 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of contractual liabilities of contracts with customers in 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.487%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.056%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.400%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.368%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (previous years)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (current year)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term contractual liabilities (Note 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(242)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term contractual liabilities (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;958&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,546&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(984)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,756)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,038&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,787&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,846&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(986)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,756)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,929&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.590%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.204%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.718%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.283%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (previous years)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (current year)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term contractual liabilities (Note 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;762&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;270&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(206)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term contractual liabilities (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;976&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,182&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(725)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,694)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;204&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;958&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,738&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,452&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(729)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,705)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,787&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The maturity schedule of contractual liabilities at December 31, 2022 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.234%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.776%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.780%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, activation fees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, sales of prepay cards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;524&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;524&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;477&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, sales of handsets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, sales of other equipments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, irrevocable rights to use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;69&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;421&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;622&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other contractual liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity of performance obligations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,038&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;175&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;110&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;606&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,929&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory>
    <ifrs-full:ExplanationOfSignificantChangesInContractAssetsAndContractLiabilitiesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNTM_d3fd9175-4d7e-49a2-9267-62dc45c06d12">&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of contractual assets and capitalized costs in 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;and&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2021 is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.034%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term contractual assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;261&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;261&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(12)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term contractual assets (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;294&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(337)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;100&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;195&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;295&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(340)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;342&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;555&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(349)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;554&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.432%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.128%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.036%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Long-term contractual assets (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;145&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;113&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;209&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;146&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(49)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term contractual assets (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;104&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;180&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;48&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;133&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;182&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(201)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;249&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;293&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;342&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of contractual liabilities of contracts with customers in 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.487%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.056%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.400%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.365%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.368%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (previous years)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (current year)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term contractual liabilities (Note 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(242)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term contractual liabilities (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;958&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,546&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(984)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,756)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;236&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,038&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,787&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,846&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(986)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,756)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,929&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.590%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.204%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.718%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.283%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (previous years)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals (current year)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term contractual liabilities (Note 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;762&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;270&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(206)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Short-term contractual liabilities (Note 22)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;976&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,182&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(725)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,694)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;204&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;958&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,738&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,452&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(729)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,705)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid 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      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNDM_dddad617-ed42-439c-92e3-dfc94b7c5e36">&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of the deferred expenses in 2021 and 2020 is as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.654%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current capitalized costs (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;555&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;820&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(547)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;854&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;371&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;671&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(447)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;149&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;244&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current capitalized costs (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;668&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;630&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(987)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;547&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;885&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;509&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(801)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;448&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;710&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;131&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(186)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;175&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,450&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(989)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,739&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.122%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.788%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.303%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.015%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current capitalized costs (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;331&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;631&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(401)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;555&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;212&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;496&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(334)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;371&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(67)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current capitalized costs (Note 14)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;580&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;489&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(799)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;400&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;668&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of obtaining a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;388&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(653)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;333&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Of fulfilling a contract&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;111&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;101&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(146)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;131&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Impairment losses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;911&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,120&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(799)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomersExplanatory>
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      unitRef="eur">555000000</ifrs-full:AssetsRecognisedFromCostsToObtainOrFulfilContractsWithCustomers>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzEtMi0xLTEtNTEwNDQy_2d16ca27-0619-4b24-a308-cebcb9dccd2d"
      unitRef="eur">820000000</tef:IncreaseThroughBusinessCombinationsCapitalizedCosts>
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      unitRef="eur">2000000</tef:DecreaseThroughDisposalsCapitalizedCosts>
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      unitRef="eur">-547000000</tef:IncreaseDecreaseThroughTransfersCapitalizedCosts>
    <tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsCapitalizedCosts
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzEtNS0xLTEtNTEwNDQy_02213674-d6a3-48eb-a0de-6a1760fe7b58"
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzEtNi0xLTEtNTEwNDQy_93d0dd8a-a613-4ca3-988f-fb157ad583a1"
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzItMy0xLTEtNTEwNDQy_daef3c6b-fa17-4ddf-9757-2a6903931b63"
      unitRef="eur">0</tef:DecreaseThroughDisposalsCapitalizedCosts>
    <tef:IncreaseDecreaseThroughTransfersCapitalizedCosts
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTo1MDEzMTU2YjQ0YTQ0ZTE0OWY4YjE4MTZlZTU2ZThhZi90YWJsZXJhbmdlOjUwMTMxNTZiNDRhNDRlMTQ5ZjhiMTgxNmVlNTZlOGFmXzItNC0xLTEtNTEwNDQy_79982567-6c78-46c5-9449-1610148f05fe"
      unitRef="eur">-447000000</tef:IncreaseDecreaseThroughTransfersCapitalizedCosts>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItNS0xLTEtNTEwNDQy_a948f3c5-c9ff-4634-8ccb-ac253b1271dd"
      unitRef="eur">204000000</tef:IncreaseDecreaseThroughTransfersContractLiabilities>
    <tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities
      contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItNi0xLTEtNTEwNDQy_b2f3f2ee-20da-48ef-b22d-d3985ff568d6"
      unitRef="eur">2000000</tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities>
    <tef:Increasedecreasethroughothermovementscontractliabilities
      contextRef="i23d8392335de4a689474a0ecf575abae_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItNy0xLTEtNTEwNDQy_9a2446de-0a3a-4e80-81e2-90302e046e08"
      unitRef="eur">13000000</tef:Increasedecreasethroughothermovementscontractliabilities>
    <ifrs-full:ContractLiabilities
      contextRef="idf7b4439d8394e99911b0dda37006051_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzItOC0xLTEtNTEwNDQy_78d9e8e0-c577-4c8e-940d-158988fd7780"
      unitRef="eur">958000000</ifrs-full:ContractLiabilities>
    <ifrs-full:ContractLiabilities
      contextRef="i860956404f59456bb4900546f88d8e31_I20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtMS0xLTEtNTEwNDQy_70281c07-b3f7-406e-a554-671f3e423b71"
      unitRef="eur">1738000000</ifrs-full:ContractLiabilities>
    <ifrs-full:IncreaseThroughBusinessCombinationsContractLiabilities
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtMi0xLTEtNTEwNDQy_deeca753-a680-46bf-a432-63e3903930ca"
      unitRef="eur">5452000000</ifrs-full:IncreaseThroughBusinessCombinationsContractLiabilities>
    <tef:DecreaseThroughDisposalsfromPriorYearsContractLiabilities
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtMy0xLTEtNTEwNDQy_0e690d46-c811-4980-9a1c-a8839deb4026"
      unitRef="eur">729000000</tef:DecreaseThroughDisposalsfromPriorYearsContractLiabilities>
    <tef:DecreaseThroughDisposalsContractLiabilities
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNC0xLTEtNTEwNDQy_5df37dce-396f-423d-990d-b3d8a51f6b77"
      unitRef="eur">4705000000</tef:DecreaseThroughDisposalsContractLiabilities>
    <tef:IncreaseDecreaseThroughTransfersContractLiabilities
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNS0xLTEtNTEwNDQy_86cefde2-1e80-4cd3-a349-abe006b68ce6"
      unitRef="eur">-2000000</tef:IncreaseDecreaseThroughTransfersContractLiabilities>
    <tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNi0xLTEtNTEwNDQy_f8e93bfb-cd83-4320-96d8-41e273b8540a"
      unitRef="eur">20000000</tef:IncreaseDecreaseThroughTranslationDifferencesAndHyperinflationAdjustmentsContractLiabilities>
    <tef:Increasedecreasethroughothermovementscontractliabilities
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtNy0xLTEtNTEwNDQy_cd5633ee-d9e8-448d-bbab-32775e94783c"
      unitRef="eur">13000000</tef:Increasedecreasethroughothermovementscontractliabilities>
    <ifrs-full:ContractLiabilities
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpkYjQ3ODE2MzUwNjM0ZTVmYWE3NjM5ZjE3OWQ4ZmMwMC90YWJsZXJhbmdlOmRiNDc4MTYzNTA2MzRlNWZhYTc2MzlmMTc5ZDhmYzAwXzMtOC0xLTEtNTEwNDQy_058a44fa-2009-4b67-b3ae-18b19fb16a62"
      unitRef="eur">1787000000</ifrs-full:ContractLiabilities>
    <ifrs-full:DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90ZXh0cmVnaW9uOjljYTkxZDIzYzNlOTRhNzViMjgzZDAyOTU0OWE4ZDRhXzIwNjc_c35a06b5-bdc4-4a35-8c49-71c92006b72d">&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The maturity schedule of contractual liabilities at December 31, 2022 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:16pt;margin-top:11pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.234%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.776%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.780%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, activation fees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, sales of prepay cards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;524&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;524&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;477&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, sales of handsets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, sales of other equipments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Contractual liabilities, irrevocable rights to use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;69&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;421&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;622&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other contractual liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;217&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity of performance obligations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,038&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;175&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;110&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;606&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,929&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTransactionPriceAllocatedToRemainingPerformanceObligationsExplanatory>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i7a9f45d158fc4a8f823de19040e3758e_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzEtMS0xLTEtNTEwNDQy_ae4e915e-8280-498d-9847-5fdd1fb02837"
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      unitRef="eur">9000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i65c391005d0f4aaaa58205c1afb4841b_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzEtMy0xLTEtNTEwNDQy_115a656f-7f46-42f4-91ed-9a9e582a63e8"
      unitRef="eur">2000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
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      contextRef="ibe988b7896c0496ca3e6f0bc2898f652_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzEtNC0xLTEtNTEwNDQy_8ea09223-e672-4550-9db8-c0450c4860c8"
      unitRef="eur">1000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzEtNS0xLTEtNTEwNDQy_358b8f90-0b37-4bb6-bde9-b340e46107d6"
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzItMS0xLTEtNTEwNDQy_0a2eaded-2c88-461f-867c-45101b300c73"
      unitRef="eur">524000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzYtNC0xLTEtNTEwNDQy_ab599522-5751-44ed-95e6-eefbd954f8fd"
      unitRef="eur">421000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i9758f1a2164a4e5cbfebac9eee6da9fe_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzYtNS0xLTEtNTEwNDQy_e96120c4-191e-449c-861a-3cd86dac253f"
      unitRef="eur">622000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i632b81f40d67496f8a8eb68e464ae813_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctMS0xLTEtNTEwNDQy_96f859ff-dafa-458e-892b-732accfe4dfd"
      unitRef="eur">84000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i4d5d0b63b97b4c42a70b55151df7d9a1_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctMi0xLTEtNTEwNDQy_f9233f1a-781f-4e8b-a5ad-be6afae48c63"
      unitRef="eur">17000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i409e4a8aabbd46bfab82e24f8b9a03fe_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctMy0xLTEtNTEwNDQy_c53fa43c-989d-4aed-b5b9-736dc7a0847c"
      unitRef="eur">16000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i28222b6470e641eca1de5eea8f72e5b0_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctNC0xLTEtNTEwNDQy_ef4e0c37-fe19-437e-9f9a-b21d6d8c87f6"
      unitRef="eur">100000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i11fbcf4357fc40dfb0a810be85f7ee2e_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzctNS0xLTEtNTEwNDQy_1fb16165-4325-4a76-857d-32c26343ca2c"
      unitRef="eur">217000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i44343f125a1e48be9f9c0e7838a0d1b7_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtMS0xLTEtNTEwNDQy_c1bd18ed-94af-473b-b668-382a587fbb6e"
      unitRef="eur">1038000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i225ee7f614314387a2ab4389ebd1488f_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtMi0xLTEtNTEwNDQy_f045ff04-6451-4937-bc93-385dfd29710b"
      unitRef="eur">175000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="ifd9484f117584541b944172ff01837e6_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtMy0xLTEtNTEwNDQy_e2fd9a29-1102-4aae-9db3-de068e2911e5"
      unitRef="eur">110000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i7f7f05db69e5475388791d1082ddd545_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtNC0xLTEtNTEwNDQy_77492895-9271-4c8f-925b-b930e31f49da"
      unitRef="eur">606000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDMvZnJhZzo5Y2E5MWQyM2MzZTk0YTc1YjI4M2QwMjk1NDlhOGQ0YS90YWJsZTpjNzY3ZWU1MDNmZmQ0MjVjOTFmODQyMmFhZmZiNzkyZS90YWJsZXJhbmdlOmM3NjdlZTUwM2ZmZDQyNWM5MWY4NDIyYWFmZmI3OTJlXzgtNS0xLTEtNTEwNDQy_06e4b925-2bcc-416f-9d7a-b40e8a324a27"
      unitRef="eur">1929000000</ifrs-full:TransactionPriceAllocatedToRemainingPerformanceObligations>
    <ifrs-full:DisclosureOfEmployeeBenefitsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTgw_89dce763-6fa7-45cc-ac91-b47c82d3f325">Provisions&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amounts of provisions in 2022 and 2021 are as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.107%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.203%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Employee benefits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;885&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,093&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,978&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,003&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,395&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,398&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Termination plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;241&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;376&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;374&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Post-employment defined benefit plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;329&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;338&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other benefits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;741&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,523&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;741&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,621&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,362&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;502&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;528&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;552&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;577&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;720&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,910&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,630&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;413&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,715&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,128&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,631&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,505&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,136&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,441&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,662&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,103&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;a) Employee benefits&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022 the Group recorded a provision o&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;f 179 mil&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;lion euros (1,663 million euros in 2021). In 2022, 57 m&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;illion euros corresponds to Tel&#xe9;fonica Spain (1,382 million euros in 2021, mainly relating to&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; the Individual Suspension Plan described in &#x201c;Other benefits&#x201d;). The distribution by segment of the restructuring costs, in terms of their impact on operating income, is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:74.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.052%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.053%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,382&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;174&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;179&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,663&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Termination plans &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in provisions for termination plans in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Provisions for termination plans at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;785&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(409)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences, hyperinflation adjustments and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Provisions for termination plans at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(311)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(43)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences, hyperinflation adjustments and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Provisions for termination plans at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;376&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica Spain &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The 2011-2013 labor force reduction plan in Telef&#xf3;nica de Espa&#xf1;a, concluded with 6,830 participating employees and the provisions recorded at December&#160;31, 2022 and 2021 amounted to 38 million euros and 145 million euros, respectively. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The companies bound by these commitments calculated provi&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;sions required at 2022 and &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2021&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; year-ends 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 and a high quality credit market based interest rate. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The discount rate used for the termination plans of Telef&#xf3;nica Spain at December&#160;31, 2022 was 3.43% with an average plan length of 0.74 years.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Post-employment defined benefit plans &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.083%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;208&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;622&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;913&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(101)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(751)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(870)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision before asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(129)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;266&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;266&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;107&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;137&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;309&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;338&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.083%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;322&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;960&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(99)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(660)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(774)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision before asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(111)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;186&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;88&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;67&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;385&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in the present value of obligations in 2022 and 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:39.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.743%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of obligation at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;350&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;643&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;74&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,086&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current service cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(45)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plan curtailments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of obligation at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;322&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;549&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;67&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;960&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current service cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(130)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(58)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plan curtailments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of obligation at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;208&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;622&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;913&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Movements in the fair value of plan assets in 2022 and 2021 are as follows:&lt;/span&gt;&lt;span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:40.420%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.523%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value of plan assets at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;95&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;693&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;801&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Participants contributions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(33)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value of plan assets at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;660&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;774&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Company contributions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(45)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value of plan assets at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;751&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;870&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica Brazil pension plans&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brazil sponsors the following post-employment benefit plans: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.263%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.859%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:38.578%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Management entity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sponsor&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Health plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plano de Assist&#xea;ncia M&#xe9;dica ao Aposentado y Programa de Coberturas Especiais (PAMA/PCE)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Funda&#xe7;&#xe3;o Sistel de Seguridade Social&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#xe1;s (Telecomunica&#xe7;&#xf5;es Brasileiras, S.A.)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assistencia m&#xe9;dica &#x2013; Lei 9.656/98&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, Terra Networks, TGLog and TIS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pension plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PBS Assistidos (PBS-A)&lt;br/&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Funda&#xe7;&#xe3;o Sistel de Seguridade Social&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#xe1;s (Telecomunica&#xe7;&#xf5;es Brasileiras, S.A.)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CTB&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica BD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vis&#xe3;o Prev&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Planes VISAO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vis&#xe3;o Prev&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, Terra Networks, TGLog, TIS and Clound Co&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main actuarial assumptions used in valuing these plans are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.832%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.226%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.642%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Discount rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.75% - 9.83%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.56% - 8.78%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Nominal rate of salary increase&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.57% - 6.35%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.32% - 6.09%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term inflation rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Growth rate for medical costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mortality tables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AT 2000 M/F&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AT 2000 M/F&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.228%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.785%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.292%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the discounted obligation at the current discount rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by increasing the discount rate by 0.5%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by reducing the discount rate by 0.5%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pension plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;341&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Health plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;253&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;286&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;622&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;594&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;653&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.228%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.785%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.292%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation at the current growth rate for medical costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by increasing the rate by 1%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by reducing the rate by 1%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pension plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Health plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;305&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;622&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;659&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;592&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Other employee benefits &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica de Espa&#xf1;a, Telef&#xf3;nica M&#xf3;viles Espa&#xf1;a and Telef&#xf3;nica Soluciones Individual Suspension Plans &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2015 Telef&#xf3;nica de Espa&#xf1;a, S.A.U., Telef&#xf3;nica M&#xf3;viles Espa&#xf1;a, S.A.U. and Telef&#xf3;nica Soluciones de Inform&#xe1;tica y Comunicaciones de Espa&#xf1;a, S.A.U. signed the first Collective Bargaining Agreement of Related Companies (CEV). 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. In September 2019 Telef&#xf3;nica Espa&#xf1;a 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. In 2021, Telef&#xf3;nica Espa&#xf1;a signed a Social Pact for Employment supported by the largest trade unions, which contemplate and Individual Suspension Plan of employment, fully voluntary (see Note 2). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Plans (PSI) in the periods opened for these purposes. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the end of each period, the current value of the forecast payment flows to meet the commitments of these programs (applying certain hypotheses regarding estimated number of accessions and future reintegration ratio) is recognized. At 2022 and &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; year-ends, this figure was calculated using &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;the biometric table PERM2020 published in the resolution of December 17, 2020 combined with the invalidity table published in the ministerial order of 1977 and a high quality credit market based interest rate.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The provision at December&#160;31, 2022 amounted to 4,150 million euros (5,240 million euros at December&#160;31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The discount rate used for these provisions at December&#160;31, 2022 was 3.71% with an average plans length of 3.53 years.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Sensitivity of the valuation &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below shows the sensitivity of the value of termination, post-employment and other obligations, including the Individual Suspension Plans of Telef&#xf3;nica Group companies in Spain to changes in the discount rate:  &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;-100 b.p.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;+100 b.p.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on&#160;&#160;income statement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(147)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(147)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;A 100 b.p. increase in the discount rate would reduce the value of the liabilities by 138 million euros and have a positive impact on the income statement of 138 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 147 million euros and have a negative impact on the income statement of 147 million euros before tax.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;b) Provisions for dismantling of assets &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement of provision for dismantling of assets in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.811%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.989%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;677&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;577&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(160)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;528&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Business sale&#x201d; in 2021 included the second phase of the sale of towers by Telefonica Germany (see Note 2).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail by segments of provision for dismantling of assets in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.902%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.898%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;396&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;528&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;577&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;c) Other provisions &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in &#x201c;Other provisions&#x201d; in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,894&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;795&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(600)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,128&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;856&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(646)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;226&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,630&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Business combinations" in 2022 mainly correspond to provisions related to the acquisition of mobiles assets of Oi (see Note 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The Group is exposed to risks of claims and litigation, mainly relating to tax and regulatory proceedings, and labor and civil claims.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Given &#160;&#160;&#160;&#160;the nature of the risks covered by these provisions, no reliable schedule of potential payments, if any, can be determined. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf4;nica Brasil, S.A. and its subsidiaries are party to administrative and judicial proceedings and labor, tax and civil claims filed in different courts. The Telef&#xf3;nica Group management based on the opinion of its legal counsel, recognized provisions for proceedings for which an unfavorable outcome is considered likely. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The balance of these provisions at December 31, 2022 and December 31, 2021 is shown in the following table:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.070%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.814%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.816%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;446&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;340&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Regulatory proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;336&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;314&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Labor claims&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Civil proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts to be refunded to customers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Provision for fines for canceling lease agreements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,300&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;879&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, Telef&#xf3;nica Brazil recognized contingent liabilities according to IFRS 3 generated on&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; acquisition of the controlling interest of Vivo Participa&#xe7;oes in 2011, GVT in 2015 and the mobile assets of Oi in 2022 (see Note 5). These contingent liabilities amounted to 176 million euros at December&#160;31, 2022 (77 million euros at December&#160;31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In 2022, Complementary Law No. 194 was enacted in Brasil, leading to a reduction in the tax rate ICMS on communications services and the respective refund of these amounts to customers. The provision in Telef&#xf3;nica Brasil at December 31, 2022 amounted to 108 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;"Provision for fines for canceling lease agreements" &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;relates to the acquisition of Garliava, resulting from the sale or shutdown of sites (see Note 5).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of provisions for tax proceedings by nature of risk is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.070%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.814%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.816%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Federal taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;118&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;State taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Municipal taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FUST&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;446&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;340&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of changes in provisions for tax proceedings in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;282&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movements with a counterparty in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Write-offs due to payment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Monetary updating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;340&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movements with a counterparty in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Write-offs due to payment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Monetary updating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;446&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 33,473 million Brazilian reals (6,009 million euros) as of &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; (30,249 million Brazilian reals, 4,786 million euros as of &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;). The possible contingencies from the main income tax proceedings (federal tax) are described in Note 25.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Noteworthy state tax-related contingencies include the "ICMS" tax (see Note 25). Moreover, Telef&#xf3;nica Brazil presently has different open proceedings regarding the Fundo de Universaliza&#xe7;&#xe3;o de Servi&#xe7;os de Telecomunica&#xe7;&#xf5;es (FUST, refer to Note 29). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;With regard to regulatory proceedings, Telef&#xf3;nica Brazil is party to administrative proceedings against Agencia Nacional de Telecomunica&#xe7;&#xf5;es (ANATEL) based on an alleged failure to meet sector regulations and judicial proceedings to contest sanctions applied by ANATEL at the administrative level. Consolidated provisions totaled 1,869 million Brazilian reals (336 million euros) at &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December 31, 2022 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(1,986 million Brazilian reals, 314 million euros at &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;). In addition, Group management and legal counsel understand that losses are possible from regulatory contingencies amounting to 5,845 million Brazilian reals (1,049 million euros) at &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; (4,545 million Brazilian reals, 719 million euros at &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;), including the sanction for breaches of the Fixed Telephony Regulation (see Note 29.a). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, Group management and legal counsel understand that losses are possible from civil proceedings, amounting to 391 million euros at &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; (335 million euros at &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; and &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;December&#160;31, 2021&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.888%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.905%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.907%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;280&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Labor claims&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Civil proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;248&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;132&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Regulatory proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Garnishments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;607&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;448&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current (see Note 15)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current (see Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;501&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;431&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEmployeeBenefitsExplanatory>
    <tef:DisclosureOfAmountsOfProvisionsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjU3_f2d6dd96-10a3-4a5b-9c61-63b8b7837e2c">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amounts of provisions in 2022 and 2021 are as follows: &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.107%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.198%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.203%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Employee benefits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;885&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,093&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,978&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,003&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,395&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,398&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Termination plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;241&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;376&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;254&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;374&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Post-employment defined benefit plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;329&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;338&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other benefits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;741&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,523&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,264&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;741&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,621&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,362&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;502&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;528&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;552&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;577&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;720&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,910&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,630&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;413&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,715&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,128&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,631&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,505&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,136&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,441&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,662&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,103&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureOfAmountsOfProvisionsTableTextBlock>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyN2U0ZWMwYTQ0NjU0ZTlkOTBjZWRlODFmZTQ4NmI3ZS90YWJsZXJhbmdlOjI3ZTRlYzBhNDQ2NTRlOWQ5MGNlZGU4MWZlNDg2YjdlXzItMS0xLTEtNTEwNDQy_3478b5a0-ad7d-4774-8337-2c28d6af92a3"
      unitRef="eur">885000000</ifrs-full:CurrentProvisionsForEmployeeBenefits>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjM1_998820ce-3e66-4602-9abd-3c2af69bc0b9">The distribution by segment of the restructuring costs, in terms of their impact on operating income, is as follows:&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:74.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.052%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.053%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,382&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;174&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;179&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,663&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DistributionbySegmentofRestructuringCostsTableTextBlock>
    <ifrs-full:RestructuringProvision
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzEtMS0xLTEtNTEwNDQy_01c92aa7-0ea8-445b-a45e-064acba76c4a"
      unitRef="eur">57000000</ifrs-full:RestructuringProvision>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzEtMi0xLTEtNTEwNDQy_c813996e-da9e-4642-a5bf-0bd1dd0efa92"
      unitRef="eur">1382000000</ifrs-full:RestructuringProvision>
    <ifrs-full:RestructuringProvision
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzQtMS0xLTEtNTEwNDQy_efc49e86-fc7b-4212-a22f-03d49d10a3c1"
      unitRef="eur">16000000</ifrs-full:RestructuringProvision>
    <ifrs-full:RestructuringProvision
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzQtMi0xLTEtNTEwNDQy_ac0428ec-3c49-45e9-b5a0-23a13a07eb11"
      unitRef="eur">22000000</ifrs-full:RestructuringProvision>
    <ifrs-full:RestructuringProvision
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzUtMS0xLTEtNTEwNDQy_6dc6ac5f-6459-49d3-af60-1f96b50c2536"
      unitRef="eur">98000000</ifrs-full:RestructuringProvision>
    <ifrs-full:RestructuringProvision
      contextRef="i6221f5a113e743b7add554a0342c96cc_I20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzUtMi0xLTEtNTEwNDQy_2e6fe428-6fbb-4cce-b076-28e1c7d4de73"
      unitRef="eur">174000000</ifrs-full:RestructuringProvision>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzctMS0xLTEtNTEwNDQy_93cbb703-4455-41a9-bd07-260880877006"
      unitRef="eur">8000000</ifrs-full:RestructuringProvision>
    <ifrs-full:RestructuringProvision
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzctMi0xLTEtNTEwNDQy_14836105-874c-4f2c-b8e7-470e15703288"
      unitRef="eur">85000000</ifrs-full:RestructuringProvision>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzgtMS0xLTEtNTEwNDQy_276e18d3-bad6-4124-b645-d1d8d710a559"
      unitRef="eur">179000000</ifrs-full:RestructuringProvision>
    <ifrs-full:RestructuringProvision
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToyOTYwOWRmMzVkYzA0YTc0YjVhZWIyNzIyMjgzOTc3Zi90YWJsZXJhbmdlOjI5NjA5ZGYzNWRjMDRhNzRiNWFlYjI3MjIyODM5NzdmXzgtMi0xLTEtNTEwNDQy_6ff6e2b3-a663-4e3e-a11f-27e0c35cc12e"
      unitRef="eur">1663000000</ifrs-full:RestructuringProvision>
    <tef:DisclosureOfChangesInProvisionForPostEmploymentPlansTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMzIx_f2109e50-268d-440a-b4f8-e1bfce4cff33">&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in provisions for termination plans in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Provisions for termination plans at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;785&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(409)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences, hyperinflation adjustments and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Provisions for termination plans at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;106&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(311)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(43)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences, hyperinflation adjustments and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Provisions for termination plans at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;376&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfChangesInProvisionForPostEmploymentPlansTableTextBlock>
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      unitRef="eur">-409000000</tef:IncreaseDecreaseInProvisionsForTerminationPlansDueToRetirements>
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      unitRef="number">0.0343</ifrs-full:ActuarialAssumptionOfDiscountRates>
    <ifrs-full:WeightedAverageDurationOfDefinedBenefitObligation2019
      contextRef="i99ac001ee1c8473e98f57a61e484f575_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzExOTA_292eca2a-efc9-43e9-8f75-c21c232d5aa4">P0Y8M26D</ifrs-full:WeightedAverageDurationOfDefinedBenefitObligation2019>
    <ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjcw_662abc00-dee5-4edf-a8b5-a40269cdc3dd">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.083%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;208&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;622&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;913&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(101)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(751)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(870)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision before asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(129)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;266&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;266&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;107&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;137&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;309&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;338&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.081%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.083%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;322&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;960&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(99)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(660)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(774)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision before asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(111)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;186&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Asset ceiling&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;223&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;88&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;67&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;385&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net provision&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzctNC0xLTEtNTEwNDQy_828cb51d-879d-4f38-9eed-2be4c1920746"
      unitRef="eur">67000000</tef:ProvisionsForDefinedBenefitPlans>
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      unitRef="eur">7000000</tef:ProvisionsForDefinedBenefitPlans>
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      contextRef="i40c72edfb5dc4425938ff2bbfe982ecc_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzctNi0xLTEtNTEwNDQy_4e097ea0-50b6-4b3c-8b79-6fcc01c58257"
      unitRef="eur">408000000</tef:ProvisionsForDefinedBenefitPlans>
    <tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions
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      unitRef="eur">-8000000</tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions>
    <tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions
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      unitRef="eur">-15000000</tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions>
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    <tef:LiabilityAssetOfDefinedBenefitPlansNetOfProvisions
      contextRef="i40c72edfb5dc4425938ff2bbfe982ecc_I20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZToxNjhkYWYzNDUzODk0ZWY2OTBmMzVkYzk5MjViMDFlMC90YWJsZXJhbmdlOjE2OGRhZjM0NTM4OTRlZjY5MGYzNWRjOTkyNWIwMWUwXzgtNi0xLTEtNTEwNDQy_73c3df47-645e-420c-b526-6b228b1c8aad"
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    <ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjE0_41fb9d8c-7d44-4767-82b8-67933f0184c4">The movement in the present value of obligations in 2022 and 2021 is as follows:&lt;span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:39.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.743%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of obligation at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;350&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;643&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;74&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,086&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current service cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(45)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plan curtailments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of obligation at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;322&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;549&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;67&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;960&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current service cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest cost&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(123)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(130)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(58)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plan curtailments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of obligation at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;208&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;622&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;913&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjI2_b9b185fb-a3a6-4fb3-9c2a-d1638b4bd486">&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Movements in the fair value of plan assets in 2022 and 2021 are as follows:&lt;/span&gt;&lt;span style="color:#006476;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:40.420%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.523%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value of plan assets at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;95&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;693&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;801&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Participants contributions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(33)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value of plan assets at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;660&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;774&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Actuarial losses and gains&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Company contributions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Benefits paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(45)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other movements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value of plan assets at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;751&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;870&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFairValueOfPlanAssetsExplanatory>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjAy_0df22146-fbd5-48dc-a7be-33b43d219011">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brazil sponsors the following post-employment benefit plans: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.263%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.859%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:38.578%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Management entity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sponsor&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Health plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Plano de Assist&#xea;ncia M&#xe9;dica ao Aposentado y Programa de Coberturas Especiais (PAMA/PCE)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Funda&#xe7;&#xe3;o Sistel de Seguridade Social&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#xe1;s (Telecomunica&#xe7;&#xf5;es Brasileiras, S.A.)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Assistencia m&#xe9;dica &#x2013; Lei 9.656/98&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, Terra Networks, TGLog and TIS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pension plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PBS Assistidos (PBS-A)&lt;br/&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Funda&#xe7;&#xe3;o Sistel de Seguridade Social&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, jointly and severally with other companies resulting from the privatization of Telebr&#xe1;s (Telecomunica&#xe7;&#xf5;es Brasileiras, S.A.)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CTB&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica BD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vis&#xe3;o Prev&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Planes VISAO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vis&#xe3;o Prev&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, Terra Networks, TGLog, TIS and Clound Co&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDefinedContributionPlansExplanatory>
    <tef:ActuarialAssumptionsUsedInValuingDefinedBenefitPlansTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMjEy_0250993a-02fd-4e55-a11b-c36fe774763f">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main actuarial assumptions used in valuing these plans are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.832%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.226%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.642%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Discount rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.75% - 9.83%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.56% - 8.78%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Nominal rate of salary increase&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.57% - 6.35%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.32% - 6.09%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term inflation rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Growth rate for medical costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.61&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mortality tables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AT 2000 M/F&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AT 2000 M/F&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:ActuarialAssumptionsUsedInValuingDefinedBenefitPlansTableTextBlock>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzEtMi0xLTEtNTEwNDQyL3RleHRyZWdpb246Zjg3YjNjNzI1ZTE3NDZkZWFjM2IzYmE0ZjNmYzE1ODlfOQ_4d3542eb-2e92-4867-b871-8e55eaa36a48"
      unitRef="number">0.0878</ifrs-full:ActuarialAssumptionOfDiscountRates>
    <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases
      contextRef="i59e0caafc81947aaa74ea708a02ace54_I20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMS0xLTEtNTEwNDQyL3RleHRyZWdpb246ODFmYmE4YjA4NzcyNGZhNjhmOTM0MWZhNDNiMTk0ZTJfNA_87b06b3f-6958-4567-98b0-a80c53fbdb5e"
      unitRef="number">0.0457</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
    <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases
      contextRef="i26d4e291e4a64ad083a0ee1b36e84bef_I20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMS0xLTEtNTEwNDQyL3RleHRyZWdpb246ODFmYmE4YjA4NzcyNGZhNjhmOTM0MWZhNDNiMTk0ZTJfOQ_e401dff3-89e3-4775-b819-4fd1cf6e769a"
      unitRef="number">0.0635</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
    <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases
      contextRef="i5d40643214784b42b1d897535bd9f541_I20211231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMi0xLTEtNTEwNDQyL3RleHRyZWdpb246YmQ3MjQ5ZTliNjRhNDMzMjk3ZTY1MDIxMTdjYWJmNjVfNA_98c67e10-64ff-441b-9705-09429cda9fda"
      unitRef="number">0.0432</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
    <ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases
      contextRef="i5e7fe9ba4a684d9d80dd7f5f1baa69e0_I20211231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzItMi0xLTEtNTEwNDQyL3RleHRyZWdpb246YmQ3MjQ5ZTliNjRhNDMzMjk3ZTY1MDIxMTdjYWJmNjVfOQ_1ed650fd-1643-4d18-921c-0b5867455329"
      unitRef="number">0.0609</ifrs-full:ActuarialAssumptionOfExpectedRatesOfSalaryIncreases>
    <ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation
      contextRef="if74e3c26fc2e45c792211fe823017d98_I20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzMtMS0xLTEtNTEwNDQy_13992d61-8c9e-4b5e-b1a8-b9cdadc58122"
      unitRef="number">0.0350</ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation>
    <ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation
      contextRef="ia3d6201464b84825b61994f064d711ef_I20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzMtMi0xLTEtNTEwNDQy_34da6bd0-eecf-4c71-8454-009806dcb76b"
      unitRef="number">0.0325</ifrs-full:ActuarialAssumptionOfExpectedRatesOfInflation>
    <ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates
      contextRef="if74e3c26fc2e45c792211fe823017d98_I20221231"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzQtMS0xLTEtNTEwNDQy_4f0446a0-230c-47a8-82d3-ceb395a2f2c8"
      unitRef="number">0.0661</ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates>
    <ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates
      contextRef="ia3d6201464b84825b61994f064d711ef_I20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTpiMWVjZWM0N2FjNWQ0NmZmOGIxOTBhZGFlYzlmY2RiNy90YWJsZXJhbmdlOmIxZWNlYzQ3YWM1ZDQ2ZmY4YjE5MGFkYWVjOWZjZGI3XzQtMi0xLTEtNTEwNDQy_ead7ffaf-aeba-4d6d-940f-08e786ccfbd3"
      unitRef="number">0.0635</ifrs-full:ActuarialAssumptionOfMedicalCostTrendRates>
    <ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTk1_4bf7448e-d2aa-4856-98dc-05021fc8686f">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.228%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.785%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.292%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the discounted obligation at the current discount rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by increasing the discount rate by 0.5%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by reducing the discount rate by 0.5%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pension plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;341&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Health plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;253&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;286&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;622&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;594&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;653&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.228%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.785%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.292%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation at the current growth rate for medical costs&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by increasing the rate by 1%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Present value of the obligation by reducing the rate by 1%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pension plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Health plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;268&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;305&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total obligation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;622&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;659&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;592&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below shows the sensitivity of the value of termination, post-employment and other obligations, including the Individual Suspension Plans of Telef&#xf3;nica Group companies in Spain to changes in the discount rate:  &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;-100 b.p.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;+100 b.p.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Impact on&#160;&#160;income statement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(147)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(147)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory>
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    <ifrs-full:DisclosureOfOtherProvisionsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTM2_0d4784b9-d8c2-489c-9927-8cb07ed7cbce">The movement of provision for dismantling of assets in 2022 and 2021 is as follows: &lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.811%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.989%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;677&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(35)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(47)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;577&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(160)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dismantling of assets at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;528&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Business sale&#x201d; in 2021 included the second phase of the sale of towers by Telefonica Germany (see Note 2).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail by segments of provision for dismantling of assets in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:60.902%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.898%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.900%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;396&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;528&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;577&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movement in &#x201c;Other provisions&#x201d; in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,894&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;795&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(600)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,128&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions and accretion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;856&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Retirements/amount applied&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(646)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Business combinations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;226&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other provisions at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,630&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherProvisionsExplanatory>
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    <ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions
      contextRef="i6aa0157b01fc4356b01387599b11bb57_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzktMS0xLTEtNTEwNDQy_43169715-dc1f-488e-adab-416d42e889b6"
      unitRef="eur">-7000000</ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesOtherProvisions>
    <ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions
      contextRef="i6aa0157b01fc4356b01387599b11bb57_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzEwLTEtMS0xLTUxMDQ0Mg_4a7f17ef-a104-4e64-bfb2-0464c7c70756"
      unitRef="eur">73000000</ifrs-full:IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions>
    <ifrs-full:OtherProvisions
      contextRef="i4a246d32871549c58492ee8980775d60_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTowNmNlYWE3ODUyZTM0OWE3YmNhN2RkOTEzMDBhYjgwYS90YWJsZXJhbmdlOjA2Y2VhYTc4NTJlMzQ5YTdiY2E3ZGQ5MTMwMGFiODBhXzExLTEtMS0xLTUxMDQ0Mg_f0946792-c22d-406a-a645-2a771ce58695"
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    <tef:DisclosureOfProvisionsForTaxProceedingsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90ZXh0cmVnaW9uOjNlMWJkM2ViMmUzNzQwZWM4MjJhOWFlZjdmZjE3YWUzXzEwMTIz_94e07c24-204f-4e59-8f94-5020534b6500">&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The balance of these provisions at December 31, 2022 and December 31, 2021 is shown in the following table:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.070%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.814%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.816%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;446&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;340&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Regulatory proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;336&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;314&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Labor claims&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Civil proceedings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amounts to be refunded to customers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;108&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Provision for fines for canceling lease agreements&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,300&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;879&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of provisions for tax proceedings by nature of risk is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.070%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.814%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.816%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Federal taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;140&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;118&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;State taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Municipal taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FUST&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;446&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;340&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of changes in provisions for tax proceedings in 2022 and 2021 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:70.935%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.865%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;282&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movements with a counterparty in the income statement&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Write-offs due to payment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Monetary updating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;340&lt;/span&gt;&lt;span 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0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Write-offs due to payment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Monetary updating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;446&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;448&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current (see 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzctMi0xLTEtNTEwNDQy_937b9136-7ebd-4e31-868a-adac0b7619fa"
      unitRef="eur">17000000</ifrs-full:OtherShorttermProvisions>
    <ifrs-full:OtherLongtermProvisions
      contextRef="i905746a3d78f41bf8c6f3928ec5d3bfb_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzgtMS0xLTEtNTEwNDQy_6d58b64a-8982-4d65-8220-8e3d8571d061"
      unitRef="eur">501000000</ifrs-full:OtherLongtermProvisions>
    <ifrs-full:OtherLongtermProvisions
      contextRef="ic2a51599913a4ee78462e677284a4b9f_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDYvZnJhZzozZTFiZDNlYjJlMzc0MGVjODIyYTlhZWY3ZmYxN2FlMy90YWJsZTo1MGEyYjEwZjRmNWY0YzMwOWFhMGEyNGIwN2U1NGIxNS90YWJsZXJhbmdlOjUwYTJiMTBmNGY1ZjRjMzA5YWEwYTI0YjA3ZTU0YjE1XzgtMi0xLTEtNTEwNDQy_8a19e458-c706-4173-9e18-b3933b546c6a"
      unitRef="eur">431000000</ifrs-full:OtherLongtermProvisions>
    <ifrs-full:DisclosureOfIncomeTaxExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM0OTYz_3ed7de57-0421-415c-9760-fefcf935c67d">Tax matters&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Pursuant to a Ministerial Order dated December 27, 1989, Telef&#xf3;nica, S.A. files consolidated tax returns in Spain for certain Group companies. The consolidated tax group comprised &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;47&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; companies at December 31, 2022 (45 companies at December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Deferred taxes movement&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movements in deferred taxes in the Telef&#xf3;nica Group in 2022 and 2021 are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,616&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,602&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,080&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;685&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,877)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(400)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Company movements and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,884&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,067&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,416&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,620&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;952&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;499&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,697)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(472)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(60)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Company movements and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,616&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,602&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Main changes registered in 2022&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In July 2022, Telef&#xf3;nica was notified of the Supreme Court's ruling rejecting the appeal filed by the State Attorney's Office against the &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Supreme Court's &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;ruling of October 29, 2021, which had upheld the criteria for the use of tax losses and deductions maintained by Telef&#xf3;nica in relation to the settlement agreements arising from the corporate income tax audit for those years (see Inspections of the tax group in Spain in this note). On October 24, 2022, the &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Supreme Court's&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; ruling was enforced, ordering the refund to Telef&#xf3;nica of 790 million euros for taxes paid in those years, as well as 526 million euros in late-payment interest (see "Breakdown of financial result" in Note 19). As a result of the new assessments made, in 2022 tax credits of Telef&#xf3;nica, S.A.'s tax group that had been capitalized at December 31, 2021, amounting to 512 million euros for tax loss carryforwards and 278 million euros for tax credits, were derecognized. Also, in relation to the above, an addition of deferred tax assets of the tax group was recorded, with a balancing entry in the income tax of the consolidated income statement of tax loss carryforwards in the amount of 58 million euros and a derecognition of tax credits for deductions in the amount of 16 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In December 2022, the consortium formed by CAA and Vauban (see Note 2) acquired 45% of Bluevia Fibra, S.L. (Bluevia) for an amount of 1,021 million euros in cash. The transaction has not had any impact on the consolidated income statement as it is a change in the percentage of ownership that has not resulted in a loss of control. In the context of this transaction, Bluevia acquired from Telef&#xf3;nica de Espa&#xf1;a a number of assets constituting the business object of Bluevia (see Note 29.c) at their fair value at the transaction date, which was higher than the pre-existing net book value, generating an accounting gain at the headquarters of Telef&#xf3;nica de Espa&#xf1;a which, as Bluevia is outside the consolidation perimeter of the tax group of Telef&#xf3;nica, S.A., forms part of the taxable income of the aforementioned tax group.  However, from an accounting point of view, this difference in value is not reflected in the consolidated accounts as it is a transaction between companies of the same Group. The difference between the tax value of these assets in Bluevia and their book value in the Group's consolidated accounts has generated an asset for deductible temporary differences amounting to 548 million euros, recorded as additions in the table above.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As of December 31, 2022, the estimated recoverability of the deferred tax assets of the companies that continue to form part of the tax group after the exit of Bluevia has been assessed. As a result of this analysis, a reversal of deferred tax assets for tax loss carryforwards amounting to 85 million euros and 112 million euros of deductions has been recorded.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022 there were additions of deferred tax assets for 10 million euros as a result of the provisions recognized during the year in relation to the various workforce restructuring plans and other obligations with employees of the companies include in the group in Spain (see Note 24). Likewise, disposals of deferred tax assets in 2022 included the impact of the materialization of these provisions and its financial update, amounting to 319 million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Germany recognized tax credits for loss carryforwards generated in previous years amounting to 76 million euros and applied tax loss carryforwards amounting to 46 million euros in 2022. Furthermore, Telef&#xf3;nica Germany recognized deferred tax liabilities disposals amounting to 42 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The additions of deferred tax assets included tax credits recognized for 76 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2022 amounting to 76 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brazil recognized deferred tax assets amounting to 78 million euros and &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;applied tax loss carryforwards amounting 86 million euros in 2022. I&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;n addition Telef&#xf3;nica Brazil, recognized deferred tax liabilities amounting to 59 million euros and &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;disposals amounting to 212 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Colombia recognized deferred tax assets amounting to 26 million euros and &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;applied tax loss carryforwards amounting 119 million euros in 2022. Furthermore, &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;recognized deferred tax liabilities amounting to 22 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movements relating to deferred taxes recognized directly in equity in 2022 amounted to 238 million euros of additions (net position of higher deferred tax liabilities) and 44 million euros of disposals (net position of higher deferred tax &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;liabilities&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Likewise, the amount of recognized deferred tax liabilities associated with investments in subsidiaries amounted to 319 million euros as of December 31, 2022 (220 million euros as of December 31, 2021). The amount of unrecognized deferred tax liabilities associated with investments in subsidiaries amounted to 234 million euros as of December 31, 2022 (256 million euros as of December 31, 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Main changes registered in 2021&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;Following the recoverability analysis of the Tax Group's deferred tax assets in Spain as of December 31, 2021, a reversal of deferred tax assets for tax loss carryforwards and deductions was recorded, with a balancing entry in income tax, amounting to 294 million euros (69 million euros of tax loss carryforwards and 225 million euros of deductions).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;In addition in 2021, the company completed the tax audit procedure for the years 2014 to 2017, which involved the consumption of deferred tax assets amounting to 199 million euros of tax loss carryforwards and 193 million euros of deductions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In addition to this, d&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;eferred tax liabilities and the associated deferred tax asset of 143 million euros was derecognized, after the state aid recuperation procedure corresponding to the years 2005 to 2018 goodwill tax amortization (see Tax deductibility of financial goodwill in Spain, later in this note).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;In 2021 there were additions of deferred tax assets for 348 million euros as a 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 2021 included the impact of the materialization of these provisions, amounting to 240 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brazil recognized deferred tax assets amounting to 221 million euros, mainly as a consequence of the Federal Supreme Court ruling of September 24, 2021, recognizing the unconstitutionality of the taxation in the Corporate Income Tax of interest received on taxes unduly paid in previous periods. In addition, recognized deferred tax liabilities amounting to 179 million euros mainly related to the tax amortization of goodwill.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Germany recognized tax credits for loss carryforwards generated in previous years amounting to 77 million euros and applied tax loss carryforwards amounting to 118 million euros in 2021. Furthermore, Telef&#xf3;nica Germany recognized deferred tax liabilities disposals amounting to 110 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The additions of deferred tax assets included tax credits recognized for 72 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2021 amounting to 66 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;In September 2021, the Social Investment Law (Law 2155 of 2021) was approved in Colombia, which establishes that as of 2022, the general income tax rate for legal entities is 35%. As a result of this amendment, the company recorded deferred tax assets additions of 71 million euros in 2021.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movements relating to deferred taxes recognized directly in equity in 2021 amounted to 27 million euros of additions (net position of higher deferred tax liabilities) and 196 million euros of disposals (net position of higher deferred tax assets).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Expected realization of deferred tax assets and liabilities&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The estimated realization of deferred tax assets and liabilities recognized in the consolidated statement of financial position in 2022 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Less than 1 year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;More than 1 year&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;749&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;296&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,771&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:5pt;margin-top:5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Deferred tax assets less than one year mainly come from the Tax Group in Spain &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(458 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;million euros at December 31, 2022).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:5pt;margin-top:5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Deferred tax assets&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax credits for loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,639&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unused tax deductions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;565&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;903&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets for temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,074&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,616&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Tax credits for loss carryforwards&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movements in Tax credits for loss carryforwards in the Telef&#xf3;nica Group in 2022 and 2021 are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.034%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.452%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Location of the company (Millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Reversals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Perimeter changes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;999&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(600)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;457&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;778&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;153&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(122)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;810&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin America&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(216)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total tax credits for loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,639&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;278&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(939)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,011&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.768%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.345%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.201%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Location of the company (Millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Reversals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Perimeter changes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,283&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(283)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;999&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;813&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(184)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;778&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin America&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;645&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;285&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total tax credits for loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;435&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(508)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(31)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,639&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The Spanish tax group considers that unused tax loss carryforwards in Spain, taking into account tax litigation in which the group is involved, amount &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;to 3,825 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;million euros at December&#160;31, 2022:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Less than 1 year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;More than 1 year&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax loss carryforwards generated in the tax group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,755&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,755&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax loss carryforwards generated before consolidation in the tax group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,070&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;143&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,927&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Total tax credits for loss carryforwards in Spain in the statement of financial position at December 31, 2022 amounted &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;to 457&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million euros (999 million euros at December 31, 2021). Total unrecognized tax credits for loss carryforwards of the Spanish tax group amounted to&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; 498 m&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;illion euros. These tax credits do not expire.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group companies in Germany have recogn&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;ized 810 milli&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;on euros of tax credits for loss carryforwards at December&#160;31, 2022. Total unrecognized tax credits for loss carryforwards of these companies amount t&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;o 5,452 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;million euros. These tax credits do not expire. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Recognized tax credits in the consolidated statement of financial position arising from the Latin American subsidiaries at December&#160;31, 2022 amounted to &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million euros. Total unrecognized tax credits for tax loss carryforwards in Latin America amounted to&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; 683 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Deductions&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group has recognized 565 million euros of tax credits from deductions at December&#160;31, 2022, in Spain (903 millIon euros in 2021), generated primarily from export activity, R+D+i, double taxation and donations to non-profit organizations. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Temporary differences&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The sources of deferred tax assets and liabilities from temporary differences recognized at December&#160;31, 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;828&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;244&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;473&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Personnel commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,577&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;935&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;817&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories and receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;324&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;59&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,049&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,068&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other concepts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;267&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax assets for temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,205&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,610&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets and liabilities offset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,897)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,536)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax assets for temporary differences registered in the statement of financial position&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,308&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,074&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,970&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,712&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,282&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,204&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Personnel commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;403&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments in subsidiaries, associates and other shareholdings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;374&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories and receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,046&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,093&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other concepts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;833&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;431&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax liabilities for temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,964&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets and liabilities offset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,897)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,536)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax liabilities for temporary differences registered in the statement of financial position&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,067&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,602&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The heading "Other concepts&#x201d; includes, among others, the difference between the accounting and tax values created by the value of financial derivatives at year end (see Note 19). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Tax payables and receivables&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Current tax payables and receivables at December&#160;31, 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax withholdings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indirect taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;390&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Social security&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current income taxes payable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;363&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;169&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,920&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,026&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr style="height:12pt"&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indirect taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;569&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;705&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current income taxes receivable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,310&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,213&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,120&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The heading "Current income taxes receivable" as of December 31, 2022 includes a receivable from Telxius Telecom amounting to 876 million euros (875 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;as of  December 31, 2021)&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; corresponding to the income tax for the 2021 fiscal year, which was mainly generated by the second advance corporation tax paid for 2021 ("minimum instalment payment regime", regulated by RDL 2/2016 of 30 September, which is calculated on the positive result of the consolidated profit and loss account of its tax group whose parent company is Telxius Telecom). The profit obtained on the sale of its tower division subsidiaries, despite being tax exempt (at 95%) from corporate income tax, was nevertheless included in the basis for calculating the instalment payment. This credit was included into consideration for the annual corporate income tax return for 2021, which was filed in July 2022. The effective recovery of this credit has taken place in January 2023.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 13, 2021 the Supreme Court of Brazil concluded the judgment of one of the most important tax disputes in Brazil, related to the exclusion of the ICMS tax (state tax on goods and services) in the PIS/COFINS (Contribui&#xe7;&#xe3;o para Financiamento da Seguridade Social) tax base. in 2021&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; 2,269 million Brazilian reals (equivalent to 356 million euros at the average exchange rate of 2021) have been registered in "Current income taxes receivable"&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;. The impact in the consolidated income statement at 2021 amo&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;unted to 1,660 million Brazilian reals (261 million euros) reducing "Taxes other than income tax" within "Other expenses" (see Note 26), 573 million Brazilian reals (90 million euros) in "Finance income" (see Note 19) and 36 million Brazilian reals correspond to monetary updating (6 million euros).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, Telef&#xf3;nica Brazil has another legal proceeding that became final in 2018 for which it partially recognized the credit. The remaining portion of this process, relating to the period from April 1998 to June 2002 was not recognized at that time, as Telef&#xf3;nica Brazil considered it to be a contingent asset and, therefore, did not meet the parameters for its accounting recognition. In August 2022, based on the evolution of more recent decisions handed down by the STF that could impact the process in question, Telef&#xf3;nica Brazil, supported by the opinions of its legal advisors, concluded that the aforementioned process reached the status of net recoverability and therefore would be entitled to the accounting recognition of the remaining portion of the credit. Consequently, in 2022 1,146 million Brazilian reais (212 million euros at the average exchange rate of December, 2022) has been registered in &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Current income taxes receivable"&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;. The impact in the consolidated income statement at 2022 amo&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;unted to 397 million Brazilian reals (73 million euros) reducing "Taxes other than income tax" within "Other expenses" (see Note 26), 749 million Brazilian reals (139 million euros) in "Finance income" (see Note 19) and 67 million Brazilian reals correspond to monetary updating (12 million euros&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;). In 2022 the Company started the offset of said credit.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December 31, 2022 the credits pending compensation for the refund for the payments of PIS/COFINS amounting to 787 million Brazilian reals, equivalent to 141 million euros at the closing exchange rate of December 31, 2022 (1,579 million Brazilian reais at December 31, 2021, 250 million euros at the closing exchange rate).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Reconciliation of book profit before taxes to taxable income&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The reconciliation between book profit before tax and the income tax expense from continuing operations for 2022, 2021 and 2020 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accounting profit before tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,960&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,095&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,583&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax expense at prevailing statutory rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;797&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,768&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Permanent differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(793)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,705)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;289&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in deferred tax charge due to changes in tax rates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Capitalization)/reversal of tax deduction and tax relief&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;88&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;225&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Capitalization)/reversal of loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;197&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(307)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(88)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Increase/(decrease) in tax expense arising from temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other concepts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;262&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Corporate income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;641&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,378&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;626&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Breakdown of current/deferred tax expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current tax expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(218)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;831&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;462&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;859&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;547&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;164&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Corporate income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;641&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,378&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;626&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Permanent differences" in 2022, mainly includes 651 million of income corresponding to the last corporate simplification implemented in Brazil due to the approval in 2021 of a new Telecommunications Law (Law 14.195 of 26 August 2021), the consequent repeal of Decree 2.617/1998, which abolishes the obligation to control a telecommunications company through a Brazilian company.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Likewise, as a result of the closure of the tax inspection of Group 3G UMTS Holding GmbH for several years up to 2015 and once it was confirmed that no adjustment was proposed, the company has reversed the provision that had been recorded for this purpose, with an impact on Corporate income tax of 186 million euros and in Finance income of 69 million euros. This movement has not had any cash effect.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(Capitalization)/reversal of tax deduction and tax relief in 2022 mainly includes the reversal of deferred tax assets for tax credits of the Telef&#xf3;nica, S.A. tax group amounting to 112 million euros, with a balancing entry in deferred tax expense. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(Capitalization)/reversal of loss carryforwards in 2022 mainly includes the effect of unrecorded tax loss carryforwards generated in the year and the reversal of tax loss carryforwards generated in prior years of the Telef&#xf3;nica, S.A. tax group, amounting to 326 million euros and 85 million euros, respectively. On the other hand, the recognition of tax credits for tax loss carryforwards generated in previous years of Telef&#xf3;nica Germany and Group 3G UMTS Holding GmbH are included too in (Capitalization)/reversal of loss carryforwards in 2022, amounting to 152 million euros (see Main changes registered in 2022 above in this note).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Other items in 2022 mainly include an expense of 241 million euros as a result of the provision for tax contingencies recorded during the year by Telef&#xf3;nica del Per&#xfa; (see Tax litigation at Telef&#xf3;nica del Per&#xfa; later in this note).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;2021&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Permanent differences" in 2021 mainly included the effect of the corporate income tax exemption on capital gains generated on the constitution of VMED O2 UK and on the sale of Telxius' telecommunications tower division (see Note 2). It also included 387 million euros expense for the signing of the Settlement Agreement following the closure of the corporate income tax audit for the years 2014 to 2017 in Spain referred to in the section "&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Inspections of the tax group in Spain&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;" of this note.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Changes in deferred tax charge due to changes in tax rates" in 2021 included the impact of the change in the corporate income tax rate in Argentina, United Kingdom and Colombia. In Argentina the Law 27,630 of June 16, 2021 of the Corporation Tax established an increase in the nominal tax rate from 30% to 35% with retroactive effect from January 1st, 2021. In addition, on May 24, 2021 a change in the nominal tax rate from 19% to 25% was substantially enacted in the United Kingdom, which will begin to apply on April 1st, 2023. In September 2021, the so-called Social Investment Law (Law 2155 of 2021) was approved in Colombia, which established that as of 2022, the general income tax rate for legal entities is 35%. As a result of these changes in tax rates, a net deferred tax effect was recorded with a counterpart in Corporate income tax, amounting to 51 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"(Capitalization)/reversal of loss carryforwards" in 2021 included the recognition of tax credits in Telef&#xf3;nica Germany and Group 3G UMTS amounting to 77 million euros and 72 million euros, respectively, the recognition of tax credits in Brazil amounting to 221 million euros as a result of the decision of the Supreme Federal Court of 24 September 2021 referred to in the section "Main changes registered in 2021" of this note, partially compensated by the reversal of the tax group in Spain amounting to 65 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Increase/(decrease) in tax expense arising from temporary differences" in 2021 mainly included the effect of deductible temporary differences not recognized in Telef&#xf3;nica M&#xe9;xico, amounting to 83 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The heading "Other concepts" in 2021 included an expense of 97 million euros as a result of the provision for tax contingencies recorded by Telef&#xf3;nica del Per&#xfa; in the year (see "Tax litigation in Telef&#xf3;nica del Per&#xfa;" later in this note) and 97 million euros for the taxation of dividend income from Spanish companies.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Permanent differences" in 2020 included the effect of the non-deductible charge for the impairment losses on goodwill and other assets of Telef&#xf3;nica Argentina (see Note 7). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"(Capitalization)/reversal of loss carryforwards" in 2020 included the recognition of tax credits in Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Increase/(decrease) in tax expense arising from temporary differences" in 2020 mainly included 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 Telef&#xf3;nica M&#xe9;xico, amounting to 152 million euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Tax deductibility of financial goodwill in Spain &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The tax regulations added article 12.5 to the Spanish Corporate Income Tax Law, which came into force on January 1, 2002. The article regulated the deductibility of tax amortization of financial goodwill (fondo de comercio) arising from the acquisition of non-Spanish companies, which could be amortized over 20 years at 5% per annum.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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&#160;31, 2022, was 2,042 million euros.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 6, 2021, the Court of Justice of the European Union concluded that the European Commission correctly classified the Spanish tax depreciation scheme of the Fondo de Comercio as State aid incompatible with the internal market for the First and Second Decisions. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;With regard to the recognition of legitimate expectations for the First and Second decisions, the Court of Justice of the European Union confirms its applicability.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The proceedings initiated on the Third Decision, suspended until the resolution of the 1st and 2nd Decisions, were reactivated in October 2021, and are still pending first instance judgment.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Notwithstanding the above, the "Tax and Customs Control Unit of the Spanish Tax Authority" (Dependencia de Control Tributario y Aduanero de la Agencia Tributaria), in compliance with the obligation set out in the EC Decision (EU) 2015/314, recovered in March 2019 and February 2021, 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 2016 to 2018 respectively, and has notified in December 2022 the recovery of the relevant amounts for the years 2019 to 2020.The recovery of such amounts is provisional, pending the final rulings on the appeals brought against the three decisions. The amount paid by Telef&#xf3;nica after offsetting outstanding tax credits (tax losses carryforward and deductions) amounted to 12 million euros.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Notwithstanding the fact that Telef&#xf3;nica 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 released in 2021 the provision for the recovered part, 143 million euros, and has decided to continue provisioning the amount of the goodwill amortized for tax purposes, and not recovered by the Administration which amounted to 406 million euros as of December 31, 2022 (343 million euros as of December 31, 2021).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Inspections of the tax group in Spain&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In July 2019, new inspection procedure were initiated for several of the companies belonging to Tax Group 24/90, of which Telef&#xf3;nica, S.A. is the dominant company. The concepts and periods that have been 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. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;A Settlement Agreement was signed in October 2021, in which Telef&#xf3;nica manifested its agreement with certain of the tax assessments resulting from the inspection (specifically, with respect to the tax treatment of the exchange differences generated by assets denominated in Venezuelan bolivars), and its disagreement with others (mainly the consideration of exempt income of the &#x201c;Juros sobre capital propio&#x201d; since 2015), producing an impact on results (tax expense) of 387 million euros, with a deferred tax asset reduction as detailed in "Main changes registered in 2021" in Note 25 to the Consolidated Financial Statements. However, the tax assessments did not result in a significant cash outflow as the Telef&#xf3;nica Group had tax credits, which substantially offset their impact. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The closing of the inspection procedure took place in January 2022, with the Settlement Agreement being notified, and which the Company challenged in an economic-administrative procedure at the Central Economic-Administrative Court due to the adjustments with which it did not agree, mainly related to the "juros sobre el capital propio". On 9 December 2022, the Company received a rejection resolution from the Central Economic-Administrative Court, which will be challenged on the National High Court.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In relation to the 2008-2011 inspection procedure, in July 2022 Telef&#xf3;nica was notified of the Supreme Court's decision rejecting the appeal for cassation filed by the State Attorney's Office against the judgment of the Audiencia Nacional (National High Court) of October 29, 2021. This confirmed the criteria used by Telef&#xf3;nica, S.A. for the use of tax losses carryforward and deductions in relation to the liquidation agreements derived from the Corporate Income Tax inspection of those years.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 24, 2022, an Agreement for the Execution of the Judgment of the Audiencia Nacional (National High Court) was issued, which orders the refund to Telef&#xf3;nica of an amount of 790 million euros for taxes paid in those years, as well as an amount of 526 million euros as delayed interest. Said amounts were collecte&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;d on October 28, 2022.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As a consequence of the final outcome of the litigation above mentioned, no additional liabilities were recorded as of December 31, 2022&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Tax litigation in Telef&#xf3;nica Brazil &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;State taxes &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;To date the most significant issues have focused on the requirement to collect ICMS on penalties charged to customers for non-compliance, 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 b&#xe1;sica). In the case of the latter (assinatura b&#xe1;sica), the Supreme Court has established that the tax is only payable in respect of assessments for periods after October 2016. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;21,712&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million Brazilian reais as of December 31, 2022 (approximately &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;3,898&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million euros at the exchange rate on that date, see Note 24 to the Consolidated Financial Statements), 19,164 million Brazilian reais as of December 31, 2021 (approximately 3,032 million euros at the exchange rate on that date). Telef&#xf3;nica Brazil has obtained independent expert reports supporting its position, i.e. that the aforesaid services are not subject to ICMS. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Federal taxes&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;In addition, there are possible contingencies in relation to the income tax federal taxes for the total amount of 29,778 million Brazilian reais as of December 31, 2022 (approximately 5,346 million euros at the exchange rate on that date), 18,078 million Brazilian reais as of  December 31, 2021 (approximately 2,860 million euros at the exchange rate on that date), mainly related to the tax amortization in Brazil in the years 2011 to 2020 of the goodwill originated in the acquisitions of Vivo and GVT and their subsequent merger with Telef&#xf3;nica 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 Telef&#xf3;nica Brazil has received independent expert reports that support this view. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;There are other probable contingencies in relation to the income tax federal taxes for the total amount of 104 million Brazilian reais as of December 31, 2022 (approximately 19 million euros at the exchange rate on that date), 98 million Brazilian reais as of  December 31, 2021 (approximately 16 million euros at the exchange rate on that date). The Company has recognized a provision for this amount.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Tax litigation in Telef&#xf3;nica del Per&#xfa;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In relation to tax claims in Peru, it should be noted that Telef&#xf3;nica del Per&#xfa; is party to numerous legal proceedings (contentious administrative proceedings (ACAs) and appeals (amparos)) for tax matters relating to corporate income tax and VAT, mainly for the years &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;1998 to 2005&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;, the most relevant being those corresponding to the years 1998 to 2001 (relating to corporate income tax, payments in advance, credit balances, associated VAT, interest and applicable penalties).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The evolution of the appeals of the different cases from the period 1998 to 2001 has been uneven and complex over the last few years, but we can highlight the second instance Judgment of 2015, which was partially upheld; the Supreme Court Judgments of 2019; the January 2020 Supreme Court Ruling, annulling the previous rulings of 2000 and 2001 in relation to the provision for doubtful debts; the Constitutional Court Rulings in 2021 in relation to the settlement of late payment interest, partially upheld; and the Supreme Court Rulings of 2021 and 2022 on the credit balance from 1999 used in 2000.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;On January 17 and 18, 2023, Telef&#xf3;nica del Per&#xfa; received notifications of the judgments handed down by the Supreme Court that resolved, in the last instance and unfavorably to the Company (references to the &#x201c;Company&#x201d; in this section refer to Telef&#xf3;nica del Per&#xfa;), the contentious administrative proceedings relating to income tax for the years 1998, 2000 and 2001.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The rulings issued by the Fifth Chamber of Constitutional and Social Transitory of the Supreme Court do not contain any payment mandate to the Company, as the rulings issued in the administrative contentious proceedings were resolved on concepts derived from a pronouncement of the Tax Court. At the end of these proceedings - and any others that may be applicable - the Tax Administration, through an administrative act, will determine the amount of the corresponding payment obligations.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Because there were certain adjustments on which the rulings had been definitive since 2015 (positively for the Company in relation to the deductibility of the rental of public spaces and negatively in the case of the deductibility of certain financial charges), the Company previously recorded a provision with an impact on income tax, the amount of which has been updated periodically and constantly depending on the evolution of the various proceedings and the applicable interest rates.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In addition to the above, in June 2022 a new ruling was received from the Tax Court in relation to the corporate income tax of Telef&#xf3;nica M&#xf3;viles del Per&#xfa; for 2000. This ruling was favorable to the Company with respect to the recognition of the tax value of certain network assets and unfavorable with respect to the deductibility of the exchange rate tax.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In relation to all these proceedings, the Group considers that the initial amount claimed by the Peruvian government has been exponentially increased by the accrual of interest generated by the delay, not attributable to the Company, of almost 20 years in processing the lawsuits, meaning that almost 80% of the total amount claimed is due to interest and fines. And all this, despite the fact that in 2021 the Constitutional Court itself ruled in favor of Telef&#xf3;nica del Per&#xfa;, recognizing that it had been charged interest for delays not attributable to the company.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;For this and other reasons, the Group has been in international arbitration before ICSID since March 2021 for various conducts of the Peruvian State in violation of the Agreement for the Promotion and Reciprocal Protection of Investments between Spain and Peru (see Note 29.a).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Company has recorded the necessary provisions for the contingencies considered probable, leaving as possible contingencies an amount of 560 million Peruvian soles at December 31, 2022 (approximately 138 million euros). &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;As of December 31, 2022, the total amount of tax contingencies related to Telef&#xf3;nica del Per&#xfa; that the Group has recognized in its consolidated financial statements, including as the most relevant amount that related to the aforementioned judgements and rulings received since 2015, plus accrued interest and other above-mentioned impacts, amounts to 3,849 million Peruvian soles which is equivalent to 945 million euros at the exchange rate of December 31, 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Years open for inspection in the Group companies&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;s tax legislation, taking into account their respective statute of limitations periods. In Spain the taxes from 2018 onwards are open to inspection. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In the other countries in which the Telef&#xf3;nica Group has a significant presence, the years open for inspection by the relevant authorities are generally as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The last eleven years in Germany. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The last eight years in the United Kingdom. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The last seven years in Argentina.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The last six years in Venezuela &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The last five years in Brazil, Mexico, Colombia, Uruguay and the Netherlands.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The last four years in Peru. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The last three years in Chile, Ecuador and the United States. &lt;/span&gt;&lt;/div&gt;The tax inspection of the open years is not expected to give rise to additional material liabilities for the Group.</ifrs-full:DisclosureOfIncomeTaxExplanatory>
    <tef:NumberOfConsolidatedTaxGroupCompanies
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIwOA_db57907e-cc93-4d9f-b1ce-90f4a005e035"
      unitRef="company">47</tef:NumberOfConsolidatedTaxGroupCompanies>
    <tef:NumberOfConsolidatedTaxGroupCompanies
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzIyOA_b652c36c-a536-4b15-a9d5-aecd3b4ff867"
      unitRef="company">45</tef:NumberOfConsolidatedTaxGroupCompanies>
    <ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM0ODYw_94ab552a-ea1c-41ba-b05d-9368121de0e1">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movements in deferred taxes in the Telef&#xf3;nica Group in 2022 and 2021 are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,616&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,602&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,080&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;685&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,877)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(400)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Company movements and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,884&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,067&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6,416&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,620&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;952&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;499&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,697)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(472)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transfers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(60)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Translation differences and hyperinflation adjustments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(36)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Company movements and others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at December 31, 2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,616&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,602&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The estimated realization of deferred tax assets and liabilities recognized in the consolidated statement of financial position in 2022 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Less than 1 year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;More than 1 year&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;749&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;296&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,771&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax credits for loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,639&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unused tax deductions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;565&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;903&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets for temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,074&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,616&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The movements in Tax credits for loss carryforwards in the Telef&#xf3;nica Group in 2022 and 2021 are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.011%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.864%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.034%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.742%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.452%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Location of the company (Millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Reversals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Perimeter changes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;999&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(600)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;457&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;778&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;153&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(122)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;810&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin America&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(216)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total tax credits for loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,639&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;278&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(939)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;32&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,011&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.768%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.613%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.345%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.201%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Location of the company (Millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Additions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Reversals&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Perimeter changes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Translation differences and other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,283&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(283)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;999&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;813&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(184)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;778&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Latin America&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;645&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;285&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;861&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total tax credits for loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;435&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(508)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(31)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,639&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The Spanish tax group considers that unused tax loss carryforwards in Spain, taking into account tax litigation in which the group is involved, amount &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;to 3,825 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;million euros at December&#160;31, 2022:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Less than 1 year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;More than 1 year&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax loss carryforwards generated in the tax group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,755&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,755&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax loss carryforwards generated before consolidation in the tax group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,070&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;143&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,927&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The sources of deferred tax assets and liabilities from temporary differences recognized at December&#160;31, 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;828&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;244&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;473&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Personnel commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,577&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;935&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;817&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories and receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;324&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;59&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,049&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,068&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other concepts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;267&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax assets for temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,205&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,610&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets and liabilities offset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,897)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,536)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax assets for temporary differences registered in the statement of financial position&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,308&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,074&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,970&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,712&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,282&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,204&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Personnel commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;403&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investments in subsidiaries, associates and other shareholdings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;374&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories and receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,046&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,093&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other concepts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;833&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;431&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax liabilities for temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,964&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5,138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets and liabilities offset&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,897)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,536)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total deferred tax liabilities for temporary differences registered in the statement of financial position&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,067&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,602&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory>
    <ifrs-full:DeferredTaxAssets
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo1MzE3OWQ3ZGI5Nzg0ZGE2OTU5NTQ5MjNjYjIzMzdiNi90YWJsZXJhbmdlOjUzMTc5ZDdkYjk3ODRkYTY5NTk1NDkyM2NiMjMzN2I2XzEtMS0xLTEtNTEwNDQy_d7276350-7224-4a5e-abb1-af9cf9cef64a"
      unitRef="eur">5616000000</ifrs-full:DeferredTaxAssets>
    <ifrs-full:DeferredTaxLiabilities
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzEwLTItMS0xLTUxMDQ0Mg_99231586-7de2-4ab8-b39c-28a697886d33"
      unitRef="eur">5138000000</ifrs-full:DeferredTaxLiabilities>
    <tef:DeferredTaxLiabilitiesAssetsOffset
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzExLTEtMS0xLTUxMDQ0Mg_1e67a938-0060-4ea6-b1c7-71418c1704c6"
      unitRef="eur">-2897000000</tef:DeferredTaxLiabilitiesAssetsOffset>
    <tef:DeferredTaxLiabilitiesAssetsOffset
      contextRef="ibed3509305be47b9a73e6909aa5da8df_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzExLTItMS0xLTUxMDQ0Mg_0053c362-3788-44f6-b110-cb5b1c963fe3"
      unitRef="eur">-2536000000</tef:DeferredTaxLiabilitiesAssetsOffset>
    <ifrs-full:DeferredTaxLiabilities
      contextRef="id90c8ea4556347828387743160fa458a_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzEyLTEtMS0xLTUxMDQ0Mg_019f0f2b-5399-4f14-be87-cd6aa844ac99"
      unitRef="eur">3067000000</ifrs-full:DeferredTaxLiabilities>
    <ifrs-full:DeferredTaxLiabilities
      contextRef="i0472c464c23345ec8d83bfbd964dc0a9_I20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90YWJsZTo3YjI3OTk2NmYwMWI0OGNhOWY1YjEzMjY5YTY5YjU5Mi90YWJsZXJhbmdlOjdiMjc5OTY2ZjAxYjQ4Y2E5ZjViMTMyNjlhNjliNTkyXzEyLTItMS0xLTUxMDQ0Mg_7bf62159-adc4-473a-8b26-e67a0d227170"
      unitRef="eur">2602000000</ifrs-full:DeferredTaxLiabilities>
    <ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzM0OTUy_1ccf7692-1fa5-4790-b193-8814872e5da5">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Current tax payables and receivables at December&#160;31, 2022 and 2021 are as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:63.562%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.643%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax payables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax withholdings&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;96&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indirect taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;390&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Social security&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;163&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current income taxes payable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,120&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;363&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;169&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,920&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,026&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr style="height:12pt"&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Balance at 12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Tax receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indirect taxes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;569&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;705&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current income taxes receivable&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,310&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,213&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,120&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory>
    <tef:CurrentTaxWithholdings
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
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style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Accounting profit before tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,960&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,095&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,583&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax expense at prevailing statutory rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;797&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,768&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Permanent differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(793)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,705)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;289&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Changes in deferred tax charge due to changes in tax rates&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Capitalization)/reversal of tax deduction and tax relief&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;88&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;225&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(103)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Capitalization)/reversal of loss carryforwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;197&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(307)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(88)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Increase/(decrease) in tax expense arising from temporary differences&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other concepts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;308&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;262&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Corporate income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;641&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,378&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;626&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Breakdown of current/deferred tax expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current tax expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(218)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;831&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;462&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax expense&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;859&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;547&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;164&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Corporate income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;641&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,378&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;626&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfReconciliationOfAccountingProfitTableTextBlock>
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      decimals="-6"
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      unitRef="eur">2960000000</ifrs-full:AccountingProfit>
    <ifrs-full:AccountingProfit
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzI4MzQ5_1404637f-837d-4b2d-8b3b-99a0bd13eef9"
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      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU3NTI1Mjg_8d2f54f5-94ae-4486-9e79-e27a7149fd35"
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    <ifrs-full:AdditionalProvisionsOtherProvisions
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzgyNDYzMzczODAzMTQ_6935ea8d-2582-4e36-b6fc-06e21c34ed6e"
      unitRef="pen">560000000</ifrs-full:AdditionalProvisionsOtherProvisions>
    <ifrs-full:AdditionalProvisionsOtherProvisions
      contextRef="icec1b97fc6b94b0197aa5567b3951ecb_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzgyNDYzMzczODAzMTk_756eee0e-8a3f-46b1-8179-3071ac94a497"
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2ODkyMjI_d6329e4d-2824-4dd1-9c07-cbca95560b16"
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNDkvZnJhZzozMjRjOTMwMmNlZDQ0ZmY2OTlkMDI4NjgxYzQ0ZTFiNy90ZXh0cmVnaW9uOjMyNGM5MzAyY2VkNDRmZjY5OWQwMjg2ODFjNDRlMWI3XzcxNDY4MjU2ODkyMjk_7880d37d-e667-4ec7-a533-25e81d69c200"
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    <ifrs-full:DisclosureOfRevenueExplanatory
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MDM_5be11dc7-9a92-42aa-98ee-8da9b866cbfc">Revenue and expenses&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Revenues&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of Revenues for the years 2022, 2021 and 2020 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rendering of services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,854&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37,394&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sales&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,160&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,682&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,993&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43,076&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Sales mainly include the sale of mobile terminals.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Other income&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Other income&#x201d; is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Own work capitalized&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;783&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;771&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;873&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of businesses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;205&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,008&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;582&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;270&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Government grants&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;396&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,065&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,673&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,587&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gain on disposal of businesses" in 2022 mainly includes the gain from the sale of fiber optics assets of Colombia Telecomunicaciones, amounting to 162 million euros and the gain from the establishment of the joint company for the deployment of fiber in the United Kingdom amounting to 20 million euros (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gain on disposal of businesses" in 2021 mainly included the gain from the sale of the towers division of Telxius (6,099 million euros, see Note 2), the gain generated in the constitution of the joint venture VMO2 (4,460 million euros, see Note 2), the gain from the sale of 60% of the shares of InfraCo, SpA (274 million euros, see Note 2) and the gain from the sale of Telef&#xf3;nica de Costa Rica (136 million euros, see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gains on disposal of companies" in 2020 included the impact of the initial registration of Telef&#xf3;nica's joint venture with Allianz for the deployment of fiber (FTTH) in Germany (see Note 29.c).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gain on disposal of property, plant and equipment" includes the gains on sale and leaseback transactions, which amounted to 381  million euros, 263 million euros and 79 million euros in 2022, 2021 and 2020, respectively (Note 20).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Other expenses&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Other expenses&#x201d; is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Leases included in "Other expenses" &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other external services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,731&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,604&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,617&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Taxes other than income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;834&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;902&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Change in trade provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;860&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Losses on disposal of fixed assets and changes in provisions for fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill impairment (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;519&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;462&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,976&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,871&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 9). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Losses on disposal of fixed assets and changes in provisions for fixed assets" in 2022 includes impairment losses of intangible assets and property, plant and equipment of Telef&#xf3;nica Argentina, for a total amount of 77 million euros (see Notes 6 and 8). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"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 Telef&#xf3;nica Argentina, for a total amount of 375 million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Taxes other than income tax&#x201d; includes the outstanding credits related to the court decisions in favor of Telef&#xf3;nica Brasil which recognized the right to deduct the ICMS from the calculation base of the PIS and COFINS. The impact was 73 million euros reducing "Taxes other than income tax" in 2022 (261 million euros and 75 million euros in 2021 and 2020, respectively, see note 25).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Purchases and other contractual commitments&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:46.929%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.840%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:59.960%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Purchases and other contractual commitments&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Less than 1 year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,991&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1 to 3 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3 to 5 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,281&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;More than 5 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,744&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,285&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The purchases and other contractual commitments in the table above include 850 million euros corresponding to power purchase agreements (PPAs), mainly from Telef&#xf3;nica Spain for the period from 2023 to 2031 and Telef&#xf3;nica Germany from 2025 to 2035 (see Note 29.d). The Group uses these contracts to purchase energy from sustainable sources, such as wind and solar, at generally fixed prices (see Note 3.l).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Commitments for short-term leases and low value leases amounted to 33 million euros as of December 31, 2022. In addition, lease collection commitments amounted to 8 million euros as of December 31, 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Headcount&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below presents the breakdown of the Telef&#xf3;nica Group&#x2019;s average number of employees by fully consolidated segment (see Note 4) in 2022, 2021 and 2020, together with total headcount at December 31 each year. &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.599%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21,099&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20,947&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,976&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,992&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,978&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,501&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,029&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,099&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,056&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,770&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,701&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,275&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,846&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,987&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,343&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,938&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,828&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,232&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,994&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,806&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,717&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,506&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,928&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,765&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,852&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,058&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,109&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,466&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;102,563&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;103,651&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;107,776&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;104,150&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;113,182&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;112,797&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, approximately 39% of the final headcount are women (approximately 38% at December&#160;31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, the number of employees with disabilities is 1,482 (1,128 employees at December&#160;31, 2021), of which 314 employees are in Spain (267 employees in 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, the average number of employees of Telef&#xf3;nica Tech UK &amp;amp; Ireland, Ltd. (acquired on July 29, 2021), Incremental (see Note 5) and BE-terna (see Note 5) amounte&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;d to 609, 330 and 954 people,&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Depreciation and amortization&#x201d; on the consolidated income statement is as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:51.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.543%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.543%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.544%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment (Note 8)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,022&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets (Note 6)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,599&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,388&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,735&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use (Note 9)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,064&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,649&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,796&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,397&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Earnings per share&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.c) by (b) the weighted average number of ordinary shares outstanding during the year. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Profit attributable to ordinary equity holders of the parent company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,137&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,582&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adjustment for the coupon corresponding to perpetual subordinated obligations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(279)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(337)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(334)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax effect&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,802&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,884&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,332&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of shares (thousands)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Weighted average number of ordinary shares for basic earnings per share  (does not include treasury shares)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,740,105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,864,070&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,952,695&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. plans of rights over shares&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23,096&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,590&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,763,201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,874,168&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,959,285&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;(*) Revised data&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For the purposes of calculating the earnings per share (basic and diluted) attributable to equity holders of the parent, 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 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;scrip dividend&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; (see Note 17.b).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Earnings per share (euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Basic&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Diluted&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRevenueExplanatory>
    <ifrs-full:DisclosureOfExpensesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MTY_0e1b3fec-f5c7-47ad-9144-210e920cb839">Revenue and expenses&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Revenues&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of Revenues for the years 2022, 2021 and 2020 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rendering of services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,854&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37,394&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sales&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,160&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,682&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,993&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43,076&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Sales mainly include the sale of mobile terminals.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Other income&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Other income&#x201d; is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Own work capitalized&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;783&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;771&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;873&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of businesses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;205&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,008&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;582&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;270&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Government grants&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;396&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,065&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,673&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,587&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gain on disposal of businesses" in 2022 mainly includes the gain from the sale of fiber optics assets of Colombia Telecomunicaciones, amounting to 162 million euros and the gain from the establishment of the joint company for the deployment of fiber in the United Kingdom amounting to 20 million euros (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gain on disposal of businesses" in 2021 mainly included the gain from the sale of the towers division of Telxius (6,099 million euros, see Note 2), the gain generated in the constitution of the joint venture VMO2 (4,460 million euros, see Note 2), the gain from the sale of 60% of the shares of InfraCo, SpA (274 million euros, see Note 2) and the gain from the sale of Telef&#xf3;nica de Costa Rica (136 million euros, see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gains on disposal of companies" in 2020 included the impact of the initial registration of Telef&#xf3;nica's joint venture with Allianz for the deployment of fiber (FTTH) in Germany (see Note 29.c).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Gain on disposal of property, plant and equipment" includes the gains on sale and leaseback transactions, which amounted to 381  million euros, 263 million euros and 79 million euros in 2022, 2021 and 2020, respectively (Note 20).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Other expenses&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Other expenses&#x201d; is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Leases included in "Other expenses" &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other external services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,731&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,604&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,617&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Taxes other than income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;834&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;902&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Change in trade provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;860&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Losses on disposal of fixed assets and changes in provisions for fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill impairment (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;519&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;462&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,976&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,871&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 9). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"Losses on disposal of fixed assets and changes in provisions for fixed assets" in 2022 includes impairment losses of intangible assets and property, plant and equipment of Telef&#xf3;nica Argentina, for a total amount of 77 million euros (see Notes 6 and 8). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;"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 Telef&#xf3;nica Argentina, for a total amount of 375 million euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x201c;Taxes other than income tax&#x201d; includes the outstanding credits related to the court decisions in favor of Telef&#xf3;nica Brasil which recognized the right to deduct the ICMS from the calculation base of the PIS and COFINS. The impact was 73 million euros reducing "Taxes other than income tax" in 2022 (261 million euros and 75 million euros in 2021 and 2020, respectively, see note 25).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Purchases and other contractual commitments&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:46.929%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.840%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:59.960%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Purchases and other contractual commitments&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Less than 1 year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,991&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1 to 3 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3 to 5 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,281&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;More than 5 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,744&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,285&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The purchases and other contractual commitments in the table above include 850 million euros corresponding to power purchase agreements (PPAs), mainly from Telef&#xf3;nica Spain for the period from 2023 to 2031 and Telef&#xf3;nica Germany from 2025 to 2035 (see Note 29.d). The Group uses these contracts to purchase energy from sustainable sources, such as wind and solar, at generally fixed prices (see Note 3.l).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Commitments for short-term leases and low value leases amounted to 33 million euros as of December 31, 2022. In addition, lease collection commitments amounted to 8 million euros as of December 31, 2022. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Headcount&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below presents the breakdown of the Telef&#xf3;nica Group&#x2019;s average number of employees by fully consolidated segment (see Note 4) in 2022, 2021 and 2020, together with total headcount at December 31 each year. &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.599%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21,099&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20,947&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,976&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,992&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,978&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,501&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,029&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,099&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,056&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,770&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,701&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,275&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,846&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,987&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,343&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,938&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,828&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,232&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,994&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,806&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,717&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,506&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,928&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,765&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,852&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,058&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,109&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,466&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;102,563&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;103,651&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;107,776&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;104,150&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;113,182&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;112,797&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, approximately 39% of the final headcount are women (approximately 38% at December&#160;31, 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At December&#160;31, 2022, the number of employees with disabilities is 1,482 (1,128 employees at December&#160;31, 2021), of which 314 employees are in Spain (267 employees in 2021). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, the average number of employees of Telef&#xf3;nica Tech UK &amp;amp; Ireland, Ltd. (acquired on July 29, 2021), Incremental (see Note 5) and BE-terna (see Note 5) amounte&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;d to 609, 330 and 954 people,&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Depreciation and amortization&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Depreciation and amortization&#x201d; on the consolidated income statement is as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:51.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.543%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.543%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.544%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment (Note 8)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,022&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets (Note 6)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,599&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,388&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,735&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use (Note 9)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,064&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,649&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,796&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,397&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Earnings per share&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.c) by (b) the weighted average number of ordinary shares outstanding during the year. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Profit attributable to ordinary equity holders of the parent company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,137&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,582&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adjustment for the coupon corresponding to perpetual subordinated obligations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(279)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(337)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(334)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax effect&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,802&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,884&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,332&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of shares (thousands)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Weighted average number of ordinary shares for basic earnings per share  (does not include treasury shares)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,740,105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,864,070&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,952,695&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. plans of rights over shares&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23,096&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,590&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,763,201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,874,168&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,959,285&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;(*) Revised data&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For the purposes of calculating the earnings per share (basic and diluted) attributable to equity holders of the parent, 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 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;scrip dividend&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; (see Note 17.b).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Earnings per share (euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Basic&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Diluted&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfExpensesExplanatory>
    <tef:DisclosureOfTheCompositionOfRevenuesTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MDA_bf24d8f8-bbe0-4de4-a050-044a70234df9">&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of Revenues for the years 2022, 2021 and 2020 is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rendering of services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,854&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37,394&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sales&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,160&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,682&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,993&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;39,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;43,076&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfTheCompositionOfRevenuesTableTextBlock>
    <ifrs-full:RevenueFromRenderingOfServices
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzEtMS0xLTEtNTEwNDQy_4af53f6f-3be9-4146-936a-80cd03e85ec0"
      unitRef="eur">34854000000</ifrs-full:RevenueFromRenderingOfServices>
    <ifrs-full:RevenueFromRenderingOfServices
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzEtMi0xLTEtNTEwNDQy_58fc8d8a-eec8-42fa-a9dd-f8f3a5c35388"
      unitRef="eur">34117000000</ifrs-full:RevenueFromRenderingOfServices>
    <ifrs-full:RevenueFromRenderingOfServices
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzEtMy0xLTEtNTEwNDQy_ad1b71a0-d861-4b0b-9ede-afaff6e5b3e4"
      unitRef="eur">37394000000</ifrs-full:RevenueFromRenderingOfServices>
    <ifrs-full:OtherRevenue
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzItMS0xLTEtNTEwNDQy_ecf82d34-8536-4b8d-ae0a-90a89c104dcb"
      unitRef="eur">5139000000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzItMi0xLTEtNTEwNDQy_ba3a96eb-2819-413d-bc1e-bcfb23692fc4"
      unitRef="eur">5160000000</ifrs-full:OtherRevenue>
    <ifrs-full:OtherRevenue
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzItMy0xLTEtNTEwNDQy_ba5887c9-e269-4cbf-b35f-f2d6377f6357"
      unitRef="eur">5682000000</ifrs-full:OtherRevenue>
    <ifrs-full:Revenue
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzMtMS0xLTEtNTEwNDQy_9f82a4ed-6ac0-4fc4-b1c1-4bd8850ec479"
      unitRef="eur">39993000000</ifrs-full:Revenue>
    <ifrs-full:Revenue
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzMtMi0xLTEtNTEwNDQy_862c2432-e456-4cbb-b48b-d914680be8e0"
      unitRef="eur">39277000000</ifrs-full:Revenue>
    <ifrs-full:Revenue
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTplMWVlOTM1Y2ZmMGQ0ODk4YmQwZjUxYTU2MTIzMTIzMi90YWJsZXJhbmdlOmUxZWU5MzVjZmYwZDQ4OThiZDBmNTFhNTYxMjMxMjMyXzMtMy0xLTEtNTEwNDQy_da733575-df15-4fd4-8d12-cf97056b94af"
      unitRef="eur">43076000000</ifrs-full:Revenue>
    <tef:DisclosureOfTheCompositionOfOtherIncomeTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0Mjg_2d19d1d0-b238-49ce-95e7-080bed0a4b11">&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Other income&#x201d; is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Own work capitalized&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;783&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;771&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;873&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of businesses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;205&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,008&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;582&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;270&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Gain on disposal of intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Government grants&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating income&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;396&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,065&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,673&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,587&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfTheCompositionOfOtherIncomeTableTextBlock>
    <tef:IncomeFromCapitalizationOfOwnWork
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzEtMS0xLTEtNTEwNDQy_7733a9f9-7765-4a6d-8995-5274e2541ab5"
      unitRef="eur">783000000</tef:IncomeFromCapitalizationOfOwnWork>
    <tef:IncomeFromCapitalizationOfOwnWork
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzEtMi0xLTEtNTEwNDQy_b0c3ec5c-bb42-49dd-9e31-bc292a15484f"
      unitRef="eur">771000000</tef:IncomeFromCapitalizationOfOwnWork>
    <tef:IncomeFromCapitalizationOfOwnWork
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTpkYzc1M2EzYWRiZmE0YmFiYWQxN2I0MzQwMWJjMTdlOS90YWJsZXJhbmdlOmRjNzUzYTNhZGJmYTRiYWJhZDE3YjQzNDAxYmMxN2U5XzEtMy0xLTEtNTEwNDQy_412e4e85-d09e-43bc-a919-f251652546de"
      unitRef="eur">873000000</tef:IncomeFromCapitalizationOfOwnWork>
    <ifrs-full:GainsOnDisposalsOfInvestments
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      unitRef="number">0.60</tef:PercentageOfVotingEquityTransferedAsConsideration>
    <tef:CapitalGainLoss
      contextRef="i770c5f2e21584854af91fd9308ba24d1_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzOQ_40004eb2-be08-4c6b-ae15-3cbcd25cf46b"
      unitRef="eur">274000000</tef:CapitalGainLoss>
    <tef:CapitalGainLoss
      contextRef="i0f99f789dbb144b7ac9d2342a974be4f_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzYyNQ_69ede3a6-c2d6-485f-9b3c-c7a220088a1d"
      unitRef="eur">136000000</tef:CapitalGainLoss>
    <ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzMyOTg1MzQ4OTkwNTk_032d4493-6ad2-43e4-a295-964d50dc6e35"
      unitRef="eur">381000000</ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions>
    <ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzEyMTM_20da4b60-a9ea-4e57-a52f-a125f5deb119"
      unitRef="eur">263000000</ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions>
    <ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzEyMzQ_686145c0-c4aa-4bd4-a69c-48fd823c6dc4"
      unitRef="eur">79000000</ifrs-full:GainsLossesArisingFromSaleAndLeasebackTransactions>
    <tef:DisclosureOfTheCompositionOfOtherExpenseTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzOTI_f4f579a3-b318-45a5-8879-934a6d788a9c">The breakdown of &#x201c;Other expenses&#x201d; is as follows:&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Leases included in "Other expenses" &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other external services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,731&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,604&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,617&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Taxes other than income tax&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;834&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;902&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Change in trade provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;693&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;660&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;860&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Losses on disposal of fixed assets and changes in provisions for fixed assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill impairment (Note 7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;416&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;519&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other operating expenses&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;462&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,741&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,976&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,871&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt; Following the adoption of IFRS 16 (Leases) in 2019, only included short-term leases and leases of low-value or intangible assets (see Notes 9).</tef:DisclosureOfTheCompositionOfOtherExpenseTableTextBlock>
    <ifrs-full:RentalExpense
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzEtMS0xLTEtNTEwNDQy_2e74cf81-fbdb-4d1b-9d50-585447a385d9"
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      unitRef="eur">10976000000</ifrs-full:OtherExpenseByNature>
    <ifrs-full:OtherExpenseByNature
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZToxZjgxNGY2MTg3MDA0ZTI5OTJiNWQ2ZGZhNjUzNTg1ZC90YWJsZXJhbmdlOjFmODE0ZjYxODcwMDRlMjk5MmI1ZDZkZmE2NTM1ODVkXzgtMy0xLTEtNTEwNDQy_a0f7e587-8f4d-4b83-9346-fd74f5872ebc"
      unitRef="eur">12871000000</ifrs-full:OtherExpenseByNature>
    <tef:LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets
      contextRef="ic6e177a9e07341acbc66e1ebc3b74f7b_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzEwOTk1MTE2MzY4MTM_b3d533f5-6074-4adc-bb36-397600a4154d"
      unitRef="eur">77000000</tef:LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets>
    <tef:LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets
      contextRef="ia3ec45f40a594129b9038fe06327ee3e_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE3MjM_63f8f38d-bde0-4170-bbc4-d3be56688643"
      unitRef="eur">375000000</tef:LossOnDisposalOfFixedAssetsAndChangesInProvisionsForFixedAssets>
    <tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzIzNDM_3cc7d7d3-c598-469f-bd87-806279532488"
      unitRef="eur">-73000000</tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities>
    <tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzc2OTY1ODE0MDMxNDE_c131b482-3824-4eb3-be70-764481f04beb"
      unitRef="eur">-261000000</tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities>
    <tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzc2OTY1ODE0MDMxNDk_fd91cf2b-4c5b-484f-979e-fafdb97d6658"
      unitRef="eur">-75000000</tef:IncreaseDecreaseInTaxExpenseDueToDecisionsWithTaxAuthorities>
    <tef:DisclosureoffinanceleaseandoperatingleasebylesseeTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MTA_f3129463-1036-4586-b9a9-527fa5889b90">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The estimated payment schedule for purchases and other contractual commitments (non-cancelable without penalty cost) is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:46.929%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:37.840%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:59.960%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Purchases and other contractual commitments&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Less than 1 year&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,991&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1 to 3 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3 to 5 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,281&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;More than 5 years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,744&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,285&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureoffinanceleaseandoperatingleasebylesseeTableTextBlock>
    <tef:Undiscountedoperatingleasepaymentstobepaid
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzEtMS0xLTEtNTEwNDQy_0275daef-6a12-4c54-a279-d15e2325bed3"
      unitRef="eur">3991000000</tef:Undiscountedoperatingleasepaymentstobepaid>
    <tef:Undiscountedoperatingleasepaymentstobepaid
      contextRef="ifbb5c2f917aa44c888b3796fe43ac381_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzItMS0xLTEtNTEwNDQy_eee260c4-5c5c-4d6d-baf1-956820d5bd24"
      unitRef="eur">4269000000</tef:Undiscountedoperatingleasepaymentstobepaid>
    <tef:Undiscountedoperatingleasepaymentstobepaid
      contextRef="ie1ffa432e63f4c47a69b96adc7846c02_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzMtMS0xLTEtNTEwNDQy_059f7120-993d-4942-bae2-84039ffee54f"
      unitRef="eur">2281000000</tef:Undiscountedoperatingleasepaymentstobepaid>
    <tef:Undiscountedoperatingleasepaymentstobepaid
      contextRef="ib70fde8ff1bf43639c7e96d04ca1df7b_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzQtMS0xLTEtNTEwNDQy_fb8607bb-5805-4dbe-a2ce-866447336ffe"
      unitRef="eur">1744000000</tef:Undiscountedoperatingleasepaymentstobepaid>
    <tef:Undiscountedoperatingleasepaymentstobepaid
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo1ZGQ5NTZkM2FlOGM0NTRlOGE2ODBlNWVjMWQ0NzBiZS90YWJsZXJhbmdlOjVkZDk1NmQzYWU4YzQ1NGU4YTY4MGU1ZWMxZDQ3MGJlXzUtMS0xLTEtNTEwNDQy_0c0ccce0-bbe3-4886-9311-cb03be2f1d14"
      unitRef="eur">12285000000</tef:Undiscountedoperatingleasepaymentstobepaid>
    <tef:LongTermPurchaseCommitmentAmount
      contextRef="i355b7fd6c98d4847866c2a0c751ff658_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE1OTQyOTE4NjEyMzg5_c43a32d8-a4b7-4525-9bf8-58d5515315f7"
      unitRef="eur">850000000</tef:LongTermPurchaseCommitmentAmount>
    <tef:PurchaseAndOtherContractualObligations
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzI3NzE_761b2690-d0b8-44cc-b0f3-1b79475d9c4f"
      unitRef="eur">33000000</tef:PurchaseAndOtherContractualObligations>
    <tef:ExpectedFutureMinimumLeasePaymentsReceivableUnderNonCancellableSubleasesClassifiedAsOperatingLeaseAtPresentValue
      contextRef="i0c209af179be4278b1263926b9d81cb3_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzI4NTI_4a232d94-7d26-4d60-8341-c6e3b284104a"
      unitRef="eur">8000000</tef:ExpectedFutureMinimumLeasePaymentsReceivableUnderNonCancellableSubleasesClassifiedAsOperatingLeaseAtPresentValue>
    <tef:DisclosureOfNumberOfEmployeesBySegmentTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzNTQ_8da484de-5b66-42ac-941e-2feeb12dff0d">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below presents the breakdown of the Telef&#xf3;nica Group&#x2019;s average number of employees by fully consolidated segment (see Note 4) in 2022, 2021 and 2020, together with total headcount at December 31 each year. &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.599%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Average&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year-end&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21,099&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20,947&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,976&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,992&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,978&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,884&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,501&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,029&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,099&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,056&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,770&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,701&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,275&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,846&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,987&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34,343&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,938&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,828&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,232&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,994&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31,806&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,717&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,506&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,928&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,765&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,852&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,058&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,109&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,466&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;102,563&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;103,651&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;107,776&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;104,150&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;113,182&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;112,797&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzE4NjkxNjk3Njc4MjM0_a2aa2fc7-7b69-4ffc-a823-efdfe78729a3"
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    <tef:DisclosureOfDepreciationAndAmortizationExpenseTableTextBlock
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzUzNjg_bc574db7-7104-4428-a0ef-b568047a0c07">&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of &#x201c;Depreciation and amortization&#x201d; on the consolidated income statement is as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:51.970%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.543%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.543%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.544%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment (Note 8)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,022&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets (Note 6)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,599&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,388&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,735&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use (Note 9)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,064&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,649&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,602&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,796&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,397&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9,359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureOfDepreciationAndAmortizationExpenseTableTextBlock>
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      unitRef="eur">4360000000</ifrs-full:DepreciationExpense>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzEtMy0xLTEtNTEwNDQy_43367d3f-f037-45e4-8cd5-35b4cd6b1aac"
      unitRef="eur">5022000000</ifrs-full:DepreciationExpense>
    <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzItMS0xLTEtNTEwNDQy_f04c06fe-141b-4792-814d-fc99a625cd66"
      unitRef="eur">2599000000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzItMi0xLTEtNTEwNDQy_da2b9524-31a3-4c03-a658-10979aab11b4"
      unitRef="eur">2388000000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzItMy0xLTEtNTEwNDQy_30229697-dd03-41e3-a080-5dad00fb1904"
      unitRef="eur">2735000000</ifrs-full:AmortisationIntangibleAssetsOtherThanGoodwill>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzMtMS0xLTEtNTEwNDQy_82433ff7-d36a-4838-9e08-ced07dc0c9b6"
      unitRef="eur">2064000000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzMtMi0xLTEtNTEwNDQy_9ff3a21e-77f7-47a8-8661-66b3361717a9"
      unitRef="eur">1649000000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationRightofuseAssets
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzMtMy0xLTEtNTEwNDQy_9415e6b6-3f24-4e1d-84b0-17c357115a09"
      unitRef="eur">1602000000</ifrs-full:DepreciationRightofuseAssets>
    <ifrs-full:DepreciationAndAmortisationExpense
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzQtMS0xLTEtNTEwNDQy_dd479fa8-64ef-4430-b5ae-5b05eca05e62"
      unitRef="eur">8796000000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzQtMi0xLTEtNTEwNDQy_9f451c1c-8f41-4295-b967-83bbe809c59b"
      unitRef="eur">8397000000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:DepreciationAndAmortisationExpense
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90YWJsZTo0ZTZiODRhZGM3Y2Q0MTRjOTUyNjk0ZDExMzI3ODE3OS90YWJsZXJhbmdlOjRlNmI4NGFkYzdjZDQxNGM5NTI2OTRkMTEzMjc4MTc5XzQtMy0xLTEtNTEwNDQy_35232a62-ff92-45db-a28d-57184beaa193"
      unitRef="eur">9359000000</ifrs-full:DepreciationAndAmortisationExpense>
    <ifrs-full:EarningsPerShareExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTIvZnJhZzo1NzM0Nzc0NzM1ODQ0MzU5YjQxYWY5YjkxNjkyYWUyYS90ZXh0cmVnaW9uOjU3MzQ3NzQ3MzU4NDQzNTliNDFhZjliOTE2OTJhZTJhXzU0MjA_a676f68f-df93-4236-a56c-4262cc34f503">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Profit attributable to ordinary equity holders of the parent company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,011&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,137&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,582&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adjustment for the coupon corresponding to perpetual subordinated obligations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(279)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(337)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(334)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax effect&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,802&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7,884&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,332&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Number of shares (thousands)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Weighted average number of ordinary shares for basic earnings per share  (does not include treasury shares)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,740,105&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,864,070&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,952,695&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. plans of rights over shares&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23,096&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,590&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Weighted average number of ordinary shares outstanding for diluted earnings per share (excluding treasury shares)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,763,201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,874,168&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,959,285&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;(*) Revised data&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:47.140%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.055%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Earnings per share (euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Basic&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Diluted&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:EarningsPerShareExplanatory>
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      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzMyOTg1MzQ4OTU1Njk_7719e4a4-c6cc-4d8e-84db-bf30616b34b7">Share-based payment plans&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Long-term incentive plan based on Telef&#xf3;nica, S.A. shares: Performance Share Plan 2018-2022 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the General Shareholders&#x2019; Meeting held on June 8, 2018, a long-term incentive plan was approved, consisting of the delivery of shares of Telef&#xf3;nica, S.A. aimed at senior executive officers of the Telef&#xf3;nica Group, including the Executive Directors of Telef&#xf3;nica, S.A. The plan consists of the delivery to the participants of a certain number of shares of Telef&#xf3;nica, S.A. based on compliance with the objectives established for each of the cycles into which the plan is divided. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The number of shares to deliver depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#xf3;nica, S.A. with regard to the TSRs of a comparison group made up of companies of the telecommunication sector, weighted by its relevance for Telef&#xf3;nica, and (ii) 50% on the generation of free cash flow of Telef&#xf3;nica Group ("FCF").  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The plan has a duration of five years and is divided into three cycles of three years each. 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 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% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Nevertheless, on February 23, 2021, the Chairman &amp;amp; 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 Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The second cycle commenced in 2019 and finalized on December 31, 2021. The maximum number of shares assigned to this cycle of the plan was 9,471,489 with a unit fair value of 6.1436 euros per share for FCF objective and 4.4394 euros for TSR. As of December 31, 2021 the number of outstanding shares was 7,494,896. Once considered the target fulfillment levels for 2019, 2020, and 2021, a weighted achievement ratio of 50% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2020 the third and final cycle commenced, which finalized on December 31, 2022. The maximum number of shares assigned to this cycle of the plan was 5,346,508, assigned as of January 1, 2020 with a unit fair value of 3.2136 euros per share for FCF objective and 1.6444 euros for TSR. As of December 31, 2022 the number of outstanding shares was 4,595,621. Once considered the target fulfillment levels for 2020, 2021, and 2022, 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Long-term incentive plan based on Telef&#xf3;nica, S.A. shares: Performance Share Plan 2021-2025 &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the General Shareholders&#x2019; Meeting held on April 23, 2021, a long-term incentive plan was approved, consisting of the delivery of shares of Telef&#xf3;nica, S.A. aimed at senior executive officers of the Telef&#xf3;nica Group, including the Executive Directors of Telef&#xf3;nica, S.A. The plan consists of the delivery to the participants of a certain number of shares of Telef&#xf3;nica, S.A. based on compliance with the objectives established for each of the cycles into which the plan is divided. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The number of shares to deliver depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#xf3;nica, S.A. with regard to the TSRs of a comparison group made up of companies of the telecommunication sector, weighted by its relevance for Telef&#xf3;nica, (ii) 40% on the generation of free cash flow of Telef&#xf3;nica Group ("FCF"), and (iii) 10% on CO2 Emission Neutralization, in line with the goal set by the Company.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The plan has a duration of five years and is divided into three cycles of three years each. The first cycle commenced in&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 19,425,499 and the outstanding shares at December 31, 2022 was 18,544,534, with the following breakdown: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;First cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,712,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,272,267&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,770,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,417,814&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,942,550&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,854,453&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The second cycle commenced in&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 15,069,650 and the outstanding shares at December 31, 2022 was 14,969,799, with the following breakdown: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Second cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,534,825&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,484,899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,027,860&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,987,920&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,506,965&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,496,980&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Long-term incentive plan based on Telef&#xf3;nica, S.A. shares: &#x201c;Talent for the Future Share Plan 2018-2022&#x201d; (TFSP) &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At its meeting on June 8, 2018, the Telef&#xf3;nica, S.A.'s Board of Directors agreed to launch the long-term incentive plan "Talent for the Future Share Plan". &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The term of this plan is five years and it is divided into three cycles. As in the case of the Performance Share Plan 2018-2022 described above, the number of shares to deliver will depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#xf3;nica, S.A. and (ii) 50% on the generation of free cash flow of the Telef&#xf3;nica Group ("FCF").&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. Once considered the target fulfillment levels for 2018, 2019, and 2020, a weighted achievement ratio of 50% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The second cycle commenced in 2019 and finalized on December 31, 2021. The maximum number of shares assigned to this cycle of the plan was 812,000, assigned as of January 1, 2019 with a unit fair value of 6.1436 euros per share for FCF objective and 4.4394 euros for TSR.  As of December 31, 2021 the number of outstanding shares was 690,750. Once considered the target fulfillment levels for 2019, 2020, and 2021, a weighted achievement ratio of 50% was reached. Performance assessment was carried out based on the evolution of the stock price and on the audited results of the Company.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2020 the third and final cycle commenced, which finalized on December 31, 2022. The maximum number of shares assigned to this cycle of the plan was 897,400, assigned as of January 1, 2020 with a unit fair value of 3.2136 euros per share for FCF objective and 1.6444 euros for TSR. As of December 31, 2022 the number of outstanding shares was 761,600. Once considered the target fulfillment levels for 2020, 2021, and 2022, 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Long-term incentive plan based on Telef&#xf3;nica, S.A. shares: &#x201c;Talent for the Future Share Plan 2021-2025&#x201d; (TFSP) &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At its meeting on March 17, 2021, the Telef&#xf3;nica, S.A.'s Board of Directors agreed to launch a new installment of the long-term incentive plan "Talent for the Future Share Plan". &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The term of this plan is also five years and it is divided into three cycles. As in the case of the Performance Share Plan 2021-2025 described above, the number of shares to deliver will depend (i) 50% on achievement of the total shareholder return ("TSR") objective for shares of Telef&#xf3;nica, S.A. with regard to the TSRs of a comparison group  made up of companies of the telecommunication sector, weighted by its relevance for Telef&#xf3;nica, (ii) 40% on the generation of free cash flow of Telef&#xf3;nica Group ("FCF"), and (iii) 10% on CO2 Emission Neutralization, in line with the goal set by the Company.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The first cycle commenced in 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 1,751,500 and the outstanding shares at December 31, 2022 was 1,659,500, with the following breakdown: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;First cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;875,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;663,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;175,150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165,950&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The second cycle commenced in 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 1,646,500 and the outstanding shares at December 31, 2022 was 1,611,000, with the following breakdown: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Second cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;823,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;805,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;658,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;644,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;164,650&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;161,100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"&gt;Incentivized purchases of Telef&#xf3;nica, S.A. shares for employees &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica, S.A. Ordinary General Shareholders&#x2019; meeting on April 8, 2022 approved a new voluntary plan for incentivized purchases of shares of Telef&#xf3;nica, S.A. for the employees of the Group. Under this Plan, employees are offered the option to acquire Telef&#xf3;nica, 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 can invest is limited to 1,800 euros. The total number of free shares to be delivered for the whole plan may never exceed 0.38% of the share capital of Telef&#xf3;nica, S.A. at the date of approval of the plan at the General Shareholders' Meeting.&lt;/span&gt;&lt;/div&gt;The purchase period commenced in October 2022 and will finalize in September 2023. In March 2024 the vesting period of the plan will end. At December 31, 2022, 27,518 employees had registered for the plan.</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
    <tef:SharebasedCompensationArrangementbySharebasedPaymentAwardPercentageofFulfillmentofTotalShareholderReturnObjective
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    <tef:SharebasedCompensationArrangementbySharebasedPaymentAwardAwardVestingPeriod1
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    <tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfIndependentPhases
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    <tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardPeriodInForceOfEachPhases
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    <ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzgwNDY_1687f6e8-01e2-42f7-ab51-98e1cc8031a2">The first cycle commenced in 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 19,425,499 and the outstanding shares at December 31, 2022 was 18,544,534, with the following breakdown: &lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;First cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,712,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,272,267&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,770,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,417,814&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,942,550&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,854,453&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The second cycle commenced in&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 15,069,650 and the outstanding shares at December 31, 2022 was 14,969,799, with the following breakdown: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Second cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,534,825&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,484,899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,027,860&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,987,920&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,506,965&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,496,980&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The first cycle commenced in 2021, with delivery of the respective shares in 2024. The maximum number of shares assigned to this cycle of the plan was 1,751,500 and the outstanding shares at December 31, 2022 was 1,659,500, with the following breakdown: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;First cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;875,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;829,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;663,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;175,150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165,950&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The second cycle commenced in 2022, with delivery of the respective shares in 2025. The maximum number of shares assigned to this cycle of the plan was 1,646,500 and the outstanding shares at December 31, 2022 was 1,611,000, with the following breakdown: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:46.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.164%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.020%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Second cycle&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;No. of shares assigned&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding shares at 12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Unit fair value (euros)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TSR Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;823,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;805,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FCF Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;658,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;644,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CO2 E.N. Objective&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;164,650&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;161,100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.95&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory>
    <ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzItMi0xLTEtNzg4MDE3_45c62fbf-c866-47ca-b6fa-a0fdd2b3278a"
      unitRef="shares">644400</ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement>
    <ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019
      contextRef="ieb65a99fe3364b02a660587e1eb7022a_I20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzItMy0xLTEtNzg4MDE3_1fca5aff-7ba7-4657-a517-33fb8fd4f612"
      unitRef="eurPerShare">2.95</ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019>
    <ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted
      contextRef="i64ccf7c1f420405eb9e1e18954215b48_D20220101-20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzMtMS0xLTEtNzg4MDE3_a10faa01-7343-4388-82d9-6564fb6fedfe"
      unitRef="shares">164650</ifrs-full:NumberOfInstrumentsOtherEquityInstrumentsGranted>
    <ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement
      contextRef="i9249c803c059445c8eb5ab23c65a53a7_I20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzMtMi0xLTEtNzg4MDE3_583f5327-9500-4678-b65b-42f15176db0a"
      unitRef="shares">161100</ifrs-full:NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement>
    <ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019
      contextRef="i9249c803c059445c8eb5ab23c65a53a7_I20221231"
      decimals="2"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90YWJsZTpjZTljZjg2YWY3N2U0Yjk0YTVjZDRlMDlkMjgxMmM1Yy90YWJsZXJhbmdlOmNlOWNmODZhZjc3ZTRiOTRhNWNkNGUwOWQyODEyYzVjXzMtMy0xLTEtNzg4MDE3_208c7218-1e16-429b-868e-da5f93a3fe1b"
      unitRef="eurPerShare">2.95</ifrs-full:WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019>
    <tef:SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase
      contextRef="idd51cf758fff4277bd7b7f2254087b17_D20180608-20180608"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzc3MDA_6ee77832-9dc9-44d6-857a-f835600358fd"
      unitRef="eur">1800</tef:SharebasedCompensationArrangementbySharebasedPaymentAwardMaximumAmountOfSharesAnEmployeeIsAllowedToPurchase>
    <tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAnEmployeeIsAllowedToPurchaseOfShareCapitalPercentage
      contextRef="idd51cf758fff4277bd7b7f2254087b17_D20180608-20180608"
      decimals="4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzE1OTQyOTE4NjE0NzY0_6cf39dc3-dd56-4c65-85dd-cc3ae2ed0d03"
      unitRef="number">0.0038</tef:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesAnEmployeeIsAllowedToPurchaseOfShareCapitalPercentage>
    <tef:SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered
      contextRef="i5ab13d8e93834a15a437fdbf3a4585d7_D20220101-20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTUvZnJhZzpjYWJmYmVjMzBmNWI0NDcwODg1MWU5ODA0ZjM4ZWQ1Yy90ZXh0cmVnaW9uOmNhYmZiZWMzMGY1YjQ0NzA4ODUxZTk4MDRmMzhlZDVjXzc4NDU_6a873c70-779d-4747-8bc2-5e652b36a801"
      unitRef="employee">27518</tef:SharebasedCompensationArrangementbySharebasedPaymentAwardNumberOfEmployeesRegistered>
    <ifrs-full:DisclosureOfCashFlowStatementExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2Mjk_00598909-42ae-4559-86be-34c14bccede9">Cash flow detail&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of net cash flow provided by operating activities is the following: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.281%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash received from operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,925&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,415&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;51,353&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash paid from operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34,778)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34,379)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(36,477)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash paid to suppliers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29,509)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29,236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(31,080)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash paid to employees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,416)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,299)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,434)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments related to cancellation of commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(853)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(844)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(963)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net payments of interest and other financial expenses net of dividends received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,309)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,171)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net interest and other financial expenses paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,519)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,193)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;944&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Taxes proceeds / (payments)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(92)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(459)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(509)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,763&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,268&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,196&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, dividends amounting to 800 million pounds were received from VMED O2 UK Ltd (see Note 10) equivalent to 909 million euros (161 million pounds, equivalent to 187 million euros in 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Net cash flow used in investing activities&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following is a detail of the items comprising the net cash flow used in investing activities.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:68.738%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.272%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Proceeds from the sale in property, plant and equipment and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;842&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;509&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments on investments in property, plant and equipment and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,350)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,728)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,529)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,508)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,164)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(7,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Payments for non-financed spectrum in 2022 totaled 27 million euros, mainly due to the payment of 11 million euros for Telef&#xf3;nica M&#xf3;viles Argentina and 8 million euros for Telef&#xf3;nica de Espa&#xf1;a.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Payments for non-financed spectrum in 2021 totaled 999 million euros, mainly due to the payment of 521 million euros for Telef&#xf3;nica United Kingdom, 343 million euros for Telef&#xf3;nica Spain and 131 million euros for Telef&#xf3;nica Chile.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.538%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:66.110%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.027%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.730%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.733%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Constitution of VMO2 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Note 2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(256)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of Telecommunications towers divisions of Telxius (Note 2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,434&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax associated with the sale of the tower division of Telxius (Note 25)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(917)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of Telef&#xf3;nica de Costa Rica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;442&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of InfraCo&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax associated with the sale of InfraCo&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(124)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of Telef&#xf3;nica M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of fiber assets of Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred collection sale of T. Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panama in Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,369&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;81&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Oi mobile assets acquisition (Note 2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(986)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental acquisition (Note 5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna acquisition (Note 5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(328)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cancom acquisition (Note 5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(374)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital increase of UGG TopCo (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(50)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(79)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Payments on investments in companies, net of cash and cash equivalents acquired&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,628)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(414)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(79)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Cash received (see Note 2) less: (i) Cash and cash equivalents of Telefonica UK at the date of its exit from the scope of consolidation, and (ii) payments made in 2021 and 2022  to the O2 UK pension plan and other expenses (see Note 29.c).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.714%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.961%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.961%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Collateral guarantees on derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,897&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Legal deposits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds on financial investments not included under cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,967&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,163&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,308&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Legal deposits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Collateral guarantees on derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,195)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,228)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,251)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investment in funds shares of Telef&#xf3;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term financial instruments of Pegaso PCS (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(260)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(122)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(46)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Payments on financial investments not included under cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,575)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,474)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,297)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net proceeds/(payments) for temporary financial investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,532&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,584)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;217&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Net proceeds/(payments) for temporary financial investments mainly includes placements of treasury surpluses not included in cash equivalents.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Net cash flow used in financing activities&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following is a detail of the items comprising the net cash flow used in financing activities.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.615%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.092%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.948%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends paid to the shareholders of Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(959)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(617)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(825)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(268)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(227)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(161)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(156)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telxius for the sale of the telecommunications tower divisions (see Note 17.h)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,603)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid (see Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,397)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,630)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Share capital increase Pontel and Telxius (see Note 17.h)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Establishment of Bluevia Fibra (see notes 2 and 17.h)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,021&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds from share capital increase with minority interests&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;323&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Own shares purchase of Telef&#xf3;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(111)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(78)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Shares purchase of Telef&#xf3;nica Deutschland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(51)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transactions carried out by Telef&#xf3;nica, S.A. (see Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(365)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(478)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L. share premium (ECPN.) refund related to the sale of T. Guatemala, T. Nicaragua and T. Panama&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(555)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(604)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(223)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of undated deeply subordinated securities (Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisition of undated deeply subordinated securities (Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(750)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,750)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(385)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payment of undated deeply subordinated securities (Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(808)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payment of the coupon related to the issuances of undated deeply&#160;subordinated securities issued (see Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(268)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(354)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(327)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operations with other equity holders&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(268)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(354)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:66.495%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.897%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.897%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.311%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issued under the EMTN program of Telef&#xf3;nica Emisiones, S.A.U.&#160;(see Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;535&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of Telef&#xf3;nica Brasil, S.A. &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; (see Appendix III)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of Colombia Telecomunicaciones S.A, ESP BIC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds on issue of debentures and bonds, and other debts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,746&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;561&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,011&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposal bilateral loans of Telef&#xf3;nica, S.A. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated provision of 750 million euros by Telef&#xf3;nica Germany GmbH &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated provision of Telxius Telecom, S.A. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposal bilateral loan of Telef&#xf3;nica Brasil, S.A. &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; (see Note 18)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated provision of Bluevia Fibra S.L. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Settlement of nominal value of gross debt hedging derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, ESP BIC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;436&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,611&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds on loans, borrowings and promissory notes (see Appendix V)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;839&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,085&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,516&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Repayments of debentures and bonds, and other debts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,541)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,847)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,728)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated amortization by Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(750)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated amortization by Colombia Telecomunicaciones, S.A. ESP BIC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(200)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amortization bilateral loans of Colombia Telecomunicaciones, S.A. ESP BIC &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; (see Note 18)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated amortization by Telxius Telecom, S.A. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Settlement of nominal value of amortized debt hedging derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(715)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(139)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,175)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,162)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,713)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Repayments of loans, borrowings and promissory notes&#160;(see Appendix V)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,077)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,146)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,852)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Lease principal payments (Note 20)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,996)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,782)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,787)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financed spectrum licenses payments (Note 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(549)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(57)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(60)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments for investments in spectrum use licenses financed without explicit interest&lt;br/&gt;(Notes 2 and 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(108)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(108)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to suppliers with extended payment terms&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Note 18)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(108)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(235)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financed operating payments and investments in property, plant and equipment and intangible assets payments &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(698)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(273)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(382)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Data&lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashFlowStatementExplanatory>
    <tef:DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MzE_fed8ba95-b706-4820-8c26-a1694484e277">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of net cash flow provided by operating activities is the following: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:67.759%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.280%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.281%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash received from operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,925&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;46,415&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;51,353&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Cash paid from operations&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34,778)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(34,379)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(36,477)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash paid to suppliers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29,509)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(29,236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(31,080)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash paid to employees&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,416)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,299)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,434)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments related to cancellation of commitments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(853)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(844)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(963)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net payments of interest and other financial expenses net of dividends received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,309)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,171)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Net interest and other financial expenses paid&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,519)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,193)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 30.25pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends received&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;944&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;210&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Taxes proceeds / (payments)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(92)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(459)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(509)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net cash flow provided by operating activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,763&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,268&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,196&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfCashFlowItemsOperatingActivitiesTableTextBlock>
    <tef:ReceiptsFromOperations
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEtMS0xLTEtNTEwNDQy_73fe65c7-90b9-44c3-94e8-2bd44c70539c"
      unitRef="eur">46925000000</tef:ReceiptsFromOperations>
    <tef:ReceiptsFromOperations
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEtMi0xLTEtNTEwNDQy_d9ddade8-aff0-45fe-9b32-44635c04d8f7"
      unitRef="eur">46415000000</tef:ReceiptsFromOperations>
    <tef:ReceiptsFromOperations
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEtMy0xLTEtNTEwNDQy_0c83847e-0e10-49d8-ac62-1480b8564282"
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      unitRef="eur">11763000000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEwLTItMS0xLTUxMDQ0Mg_da197aee-4b73-425a-bd83-b1e17eb73593"
      unitRef="eur">10268000000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo3M2QyZWIxZjVlYTE0NjA3YmFlZTNmNzU1Mzg1ZjE0My90YWJsZXJhbmdlOjczZDJlYjFmNWVhMTQ2MDdiYWVlM2Y3NTUzODVmMTQzXzEwLTMtMS0xLTUxMDQ0Mg_8462cc1f-3bd7-41b8-9efa-7600f93e0c4c"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE5OA_dadea9d3-c62a-43a1-a19e-9fc423181ff7"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzI2MQ_9169e588-57bb-41b7-87c6-f8ca2819f1a8"
      unitRef="eur">909000000</ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2Mjk1MDg_1e52b694-6e6a-433f-94bb-81be6772388e"
      unitRef="gbp">161000000</ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2Mjk1MTI_83e23fd5-d652-43fb-9892-a35f11edee46"
      unitRef="eur">187000000</ifrs-full:DividendsReceivedFromJointVenturesClassifiedAsInvestingActivities>
    <tef:DisclosureOfCashFlowItemsInvestingActivitiesInvestmentsAndPropertyPlantAndEquipmentAndIntangibleAssetsTableTextBlock
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MDU_2313b736-d3ae-4130-9222-6492b49a4acb">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following is a detail of the items comprising the net cash flow used in investing activities.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:68.738%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.272%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Proceeds from the sale in property, plant and equipment and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;842&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;509&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments on investments in property, plant and equipment and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,350)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,728)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,529)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,508)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,164)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(7,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfCashFlowItemsInvestingActivitiesInvestmentsAndPropertyPlantAndEquipmentAndIntangibleAssetsTableTextBlock>
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      unitRef="eur">509000000</tef:ProceedsFromSalesOfPropertyPlantAndEquipmentAndIntangiblesClassifiedAsInvestingActivities>
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      unitRef="eur">6728000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzItMy0xLTEtNTEwNDQy_44af2ad5-3337-485e-9f63-2ff6924f5bce"
      unitRef="eur">7529000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzMtMS0xLTEtNTEwNDQy_0e8459cc-f30f-44fc-bd81-f56906a55445"
      unitRef="eur">-5508000000</tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzMtMi0xLTEtNTEwNDQy_a9ffa082-c85b-4372-89a7-4a6b4082587a"
      unitRef="eur">-6164000000</tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTo2MmM2NjY3ZTU3ZGY0NmIxOTliNGRiMzE5NjBiMmIyOS90YWJsZXJhbmdlOjYyYzY2NjdlNTdkZjQ2YjE5OWI0ZGIzMTk2MGIyYjI5XzMtMy0xLTEtNTEwNDQy_cdd5fa7c-7adb-4539-a092-470f72f51033"
      unitRef="eur">-7020000000</tef:ProceedsFromPurchaseOfPropertyPlantAndEquipmentAndIntangibleAssetsClassifiedAsInvestingActivitiesNet>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2MzA4MDU_8000a317-036e-4a35-bf5f-b57d487a0249"
      unitRef="eur">27000000</tef:PaymentsToAcquireIntangibleAssets1>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2MzA4MDY_b80e8870-7bf9-4bdf-bc84-d2ca896082e8"
      unitRef="eur">11000000</tef:PaymentsToAcquireIntangibleAssets1>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzEwOTk1MTE2MzA4MDc_cdbadbe1-163a-4b48-889f-f9d51fdbb5f2"
      unitRef="eur">8000000</tef:PaymentsToAcquireIntangibleAssets1>
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      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzQ4NQ_4584c14e-f9fd-4814-86d8-0425e359a58d"
      unitRef="eur">999000000</tef:PaymentsToAcquireIntangibleAssets1>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzUzMg_3688e152-bc07-494c-81df-420749b1b41e"
      unitRef="eur">521000000</tef:PaymentsToAcquireIntangibleAssets1>
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      contextRef="i144ffb815b844772a12925583929c11c_D20210101-20211231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzU4MA_ad00b633-1569-491f-8f92-a1b807f3322c"
      unitRef="eur">343000000</tef:PaymentsToAcquireIntangibleAssets1>
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      contextRef="iae4aae20a3db4a05a14107026675315f_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzYyMg_546ab3d2-f03e-44f3-9829-846bd857383a"
      unitRef="eur">131000000</tef:PaymentsToAcquireIntangibleAssets1>
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1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Constitution of VMO2 &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Note 2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(256)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of Telecommunications towers divisions of Telxius (Note 2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,434&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax associated with the sale of the tower division of Telxius (Note 25)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(917)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of Telef&#xf3;nica de Costa Rica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;442&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of InfraCo&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;479&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax associated with the sale of InfraCo&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(124)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of Telef&#xf3;nica M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sale of fiber assets of Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred collection sale of T. Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax associated with the sales of operating businesses in Guatemala, Nicaragua and Panama in Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(Payments)/proceeds on disposals of companies, net of cash and cash equivalents disposed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,369&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;81&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Oi mobile assets acquisition (Note 2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(986)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental acquisition (Note 5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(178)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna acquisition (Note 5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(328)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cancom acquisition (Note 5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(374)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Capital increase of UGG TopCo (Note 10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(50)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(27)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(79)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(414)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(79)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MTE_8cc8b902-f249-4d2e-8628-fe4accdebcaf">&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.714%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.961%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.961%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Collateral guarantees on derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,891&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,897&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,224&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Legal deposits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds on financial investments not included under cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,967&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,163&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,308&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Legal deposits&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Collateral guarantees on derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,195)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,228)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,251)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Investment in funds shares of Telef&#xf3;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Long-term financial instruments of Pegaso PCS (Note 12)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(260)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(122)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(46)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Payments on financial investments not included under cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,575)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,474)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,297)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Net proceeds/(payments) for temporary financial investments&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,532&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,584)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;217&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;</tef:DisclosureOfCashFlowItemsInvestingActivitiesProceedsAndPaymentsOnFinancialInvestmentsTableTextBlock>
    <tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzItMS0xLTEtNTEwNDQy_bc33001e-4b7f-45ca-8132-1d152fcc8487"
      unitRef="eur">2891000000</tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:ProceedsFromFinancialInvestmentsNotIncludedUnderCashEquivalents
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    <tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzExLTMtMS0xLTUxMDQ0Mg_a9027652-f8fe-4a2e-b93f-32368e1b90e0"
      unitRef="eur">0</tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents
      contextRef="ie7e5883a1a094471a5f5f9981e2da677_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEzLTEtMS0xLTUxMDQ0Mg_aace3398-950b-493a-b4b2-899b78bb51ac"
      unitRef="eur">116000000</tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents
      contextRef="i0bb69b6f2e374304b2dcb3ee07111b02_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEzLTItMS0xLTUxMDQ0Mg_422f0359-5d78-41e1-a9ab-8a067384db4e"
      unitRef="eur">122000000</tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents
      contextRef="i823b046c9e474a4abe378279873fd376_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEzLTMtMS0xLTUxMDQ0Mg_3c0261dc-e397-47ab-8074-04cbf2a34321"
      unitRef="eur">46000000</tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzE0LTEtMS0xLTUxMDQ0Mg_2b7c829d-e716-4e04-923a-e14992cc3b0b"
      unitRef="eur">2575000000</tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzE0LTItMS0xLTUxMDQ0Mg_f1d670ed-931f-472b-b278-df894a481557"
      unitRef="eur">1474000000</tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzE0LTMtMS0xLTUxMDQ0Mg_fb55022e-0c61-490a-b762-f68ee7e27635"
      unitRef="eur">3297000000</tef:PaymentsForFinancialInvestmentsNotIncludedUnderCashEquivalents>
    <tef:ProceedsFromPaymentsForTemporaryFinancialInstruments
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEyLTEtMS0xLTEwMDM1NjM_5e2e649c-6682-4669-ae1a-8f3216aa97e6"
      unitRef="eur">1532000000</tef:ProceedsFromPaymentsForTemporaryFinancialInstruments>
    <tef:ProceedsFromPaymentsForTemporaryFinancialInstruments
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEyLTItMS0xLTEwMDM1NjM_38725053-3aad-4f83-af29-ba0958521f50"
      unitRef="eur">-1584000000</tef:ProceedsFromPaymentsForTemporaryFinancialInstruments>
    <tef:ProceedsFromPaymentsForTemporaryFinancialInstruments
      contextRef="ie71530962b0f40dfa5a49af1fb5b1553_D20200101-20201231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90YWJsZTpmZGRiYzEwOGM1NjA0OWY5YTY5MzEwNmUwZjBiMWUwYS90YWJsZXJhbmdlOmZkZGJjMTA4YzU2MDQ5ZjlhNjkzMTA2ZTBmMGIxZTBhXzEyLTMtMS0xLTEwMDM1NjM_fdc61ecb-73a8-458d-b2f0-841f437e2771"
      unitRef="eur">217000000</tef:ProceedsFromPaymentsForTemporaryFinancialInstruments>
    <tef:DisclosureOfCashFlowItemsFinancingActivitiesDividendsPaidProceedsFromIssuanceOfShareCapitalAndOtherOperationsTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNTgvZnJhZzowNDI0YmM3YzFhNDA0MTljOTY5MzY4Y2IzNjVhYmE5OC90ZXh0cmVnaW9uOjA0MjRiYzdjMWE0MDQxOWM5NjkzNjhjYjM2NWFiYTk4XzE2MTM_175762a7-4702-445f-a428-d02cff0fb2e5">&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.269%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:65.615%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.945%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.092%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.948%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dividends paid to the shareholders of Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(959)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(617)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(825)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(268)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(198)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(227)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telef&#xf3;nica Deutschland Holding, A.G.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(161)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(156)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(39)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telxius for the sale of the telecommunications tower divisions (see Note 17.h)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,603)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to non-controlling interests of Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(42)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Dividends paid (see Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,397)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,630)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,296)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Share capital increase Pontel and Telxius (see Note 17.h)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;323&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Establishment of Bluevia Fibra (see notes 2 and 17.h)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,021&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #86888c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds from share capital increase with minority interests&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,022&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;323&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Own shares purchase of Telef&#xf3;nica Brasil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(111)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(78)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Shares purchase of Telef&#xf3;nica Deutschland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(48)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(51)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Transactions carried out by Telef&#xf3;nica, S.A. (see Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(365)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(478)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L. share premium (ECPN.) refund related to the sale of T. Guatemala, T. Nicaragua and T. Panama&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(44)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(555)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(604)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(223)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of undated deeply subordinated securities (Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acquisition of undated deeply subordinated 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(385)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payment of undated deeply subordinated securities (Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(808)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payment of the coupon related to the issuances of undated deeply&#160;subordinated securities issued (see Note 17)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(268)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(354)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(327)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Operations with other equity holders&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(268)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(354)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,020)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; 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.&lt;/span&gt;</tef:DisclosureOfCashFlowItemsFinancingActivitiesDividendsPaidProceedsFromIssuanceOfShareCapitalAndOtherOperationsTableTextBlock>
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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2020&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issued under the EMTN program of Telef&#xf3;nica Emisiones, S.A.U.&#160;(see Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;535&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of Telef&#xf3;nica Brasil, S.A. &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; (see Appendix III)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Issuance of Colombia Telecomunicaciones S.A, ESP BIC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;408&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds on issue of debentures and bonds, and other debts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,746&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;561&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,011&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposal bilateral loans of Telef&#xf3;nica, S.A. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;350&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated provision of 750 million euros by Telef&#xf3;nica Germany GmbH &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated provision of Telxius Telecom, S.A. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposal bilateral loan of Telef&#xf3;nica Brasil, S.A. &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; (see Note 18)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated provision of Bluevia Fibra S.L. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Settlement of nominal value of gross debt hedging derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Disposal bilateral loans and syndicated loan of Colombia Telecomunicaciones, S.A, ESP BIC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;436&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,135&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,611&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Proceeds on loans, borrowings and promissory notes (see Appendix V)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;839&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,085&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,516&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Repayments of debentures and bonds, and other debts&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,541)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(5,847)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6,728)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated amortization by Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(750)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated amortization by Colombia Telecomunicaciones, S.A. ESP BIC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(200)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amortization bilateral loans of Colombia Telecomunicaciones, S.A. ESP BIC &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; (see Note 18)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(117)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated amortization by Telxius Telecom, S.A. (see Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(70)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Settlement of nominal value of amortized debt hedging derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(715)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(34)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(139)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Others&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,175)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,162)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,713)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Repayments of loans, borrowings and promissory notes&#160;(see Appendix V)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(3,077)&lt;/span&gt;&lt;/td&gt;&lt;td style="background-color:#ffffff;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4,146)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2,852)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Lease principal payments (Note 20)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,996)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,782)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,787)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financed spectrum licenses payments (Note 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(549)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(57)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(60)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments for investments in spectrum use licenses financed without explicit interest&lt;br/&gt;(Notes 2 and 21)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(108)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(108)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payments to suppliers with extended payment terms&lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(Note 18)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(41)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(108)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(235)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financed operating payments and investments in property, plant and equipment and intangible assets payments &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(698)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(273)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(382)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;Data&lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#222222;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;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.&lt;/span&gt;</tef:DisclosureOfCashFlowItemsFinancingActivitiesProceedsOnIssuanceOfDebenturesAndBondsAndAdditionalInformationTableTextBlock>
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    <ifrs-full:DisclosureOfAdditionalInformationExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzMyOTg1MzUwNzE0MTA_80b271d6-7435-4cf7-9104-2da862cef202">Other information&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;a) Litigation and arbitration&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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, 2022 were prepared. The provisions recorded in respect of the commitments taken as a whole are not material.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following unresolved legal proceedings or those underway in 2022 are highlighted (see Note 25 for details of tax-related cases):&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Appeal against the decision by Agencia Nacional de Telecomunica&#xe7;&#xf5;es (&#x201c;ANATEL&#x201d;) regarding the inclusion of interconnection and network usage revenues in the Fundo de Universaliza&#xe7;&#xe3;o de Servi&#xe7;os de Telecomunica&#xe7;&#xf5;es (&#x201c;FUST&#x201d;) &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Vivo Group operators (currently "Telef&#xf3;nica Brasil"), together with other cellular operators, appealed ANATEL&#x2019;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 Universaliza&#xe7;&#xe3;o de Servi&#xe7;os de Telecomunica&#xe7;&#xf5;es) &#x2013;a fund which pays for the obligations to provide Universal Service&#x2013; with retroactive application from 2000. On March 13, 2006, Brasilia Federal Regional Court no. 1 granted a precautionary measure which stopped the application of ANATEL&#x2019;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&#x2019;s calculation and rejecting the retroactive application of ANATEL&#x2019;s decision. On January 26, 2016, ANATEL filed an appeal to overturn this decision with Brasilia Federal Regional Court no. 1, which was also dismissed. On May 10, 2017 ANATEL appealed to the higher courts on the merits of the case. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the same time, Telef&#xf3;nica Brasil and Telef&#xf3;nica Empresas, S.A., together with other wireline operators through ABRAFIX (Associa&#xe7;&#xe3;o Brasileira de Concession&#xe1;rias de Servi&#xe7;o Telefonico Fixo Comutado) appealed ANATEL&#x2019;s decision of December 16, 2005, also obtaining the precautionary measures requested. On June 21, 2007, Brasilia Federal Regional Court no. 1 ruled that it was not appropriate to include the interconnection and network usage revenues in the FUST&#x2019;s taxable income and rejected the retroactive application of ANATEL&#x2019;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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The amount of the claim is quantified at 1% of the interconnection revenues. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Appeal against the Decision of the European Commission dated January 23, 2013, to sanction Telef&#xf3;nica for the infringement of Article 101 of the Treaty on the functioning of the European Union &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 19, 2011, the European Commission initiated formal proceedings to investigate whether Telef&#xf3;nica, S.A. (Telef&#xf3;nica) and Portugal Telecom SGPS, S.A. (Portugal Telecom) had infringed European Union antitrust laws with respect to a clause contained in the sale and purchase agreement of Portugal Telecom&#x2019;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&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:12pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 23, 2013, the European Commission passed a ruling on the formal proceedings. The ruling imposed a fine on Telef&#xf3;nica in the amount of 67 million euros, as the European Commission ruled that Telef&#xf3;nica 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&#x2019;s ownership interest of Brasilcel, N.V. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 9, 2013, Telef&#xf3;nica filed an appeal for annulment of this ruling with the European Union General Court. On August 6, 2013, the European Union General Court notified Telef&#xf3;nica 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, Telef&#xf3;nica filed its reply. On December 18, 2013, the European Commission filed its appeal.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;A hearing was held on May 19, 2015, at the European Union General Court.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica on services in which there was not potential competition or were outside the scope of Clause Nine.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On November 23, 2016, the European Commission filed its response against the Telef&#xf3;nica's appeal. On January 30, 2017, Telef&#xf3;nica filed its response. On March 9, 2017, the European Commission filed its rejoinder.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 13, 2017, the General Court dismissed the appeal filed by Telef&#xf3;nica. The European Commission, which was urged to recalculate the amount of the fine in the judgment of the General Court of June 2016, issued a resolution on January 25, 2022, imposing a fine of  67 million euros on Telef&#xf3;nica. In April 2022, Telef&#xf3;nica paid the fine of 67 million euros imposed, bringing the procedure to an end.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Decision by the High Court regarding the acquisition by Telef&#xf3;nica of shares in &#x10c;esk&#xfd; Telecom by way of a tender offer &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Venten Management Limited ("Venten") and Lexburg Enterprises Limited ("Lexburg") were non-controlling shareholders of &#x10c;esk&#xfd; Telecom. In September 2005, both companies sold their shares to Telef&#xf3;nica in a mandatory tender offer. Subsequently, Venten and Lexburg, in 2006 and 2009, respectively, filed actions against Telef&#xf3;nica claiming a higher price than the price for which they sold their shares in the mandatory tender offer.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica'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 Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 28, 2016, the decision was notified to Telef&#xf3;nica. Telef&#xf3;nica filed an extraordinary appeal, requesting the suspension of the effects of the decision.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In March 2017, Telef&#xf3;nica was notified of the decision of the Supreme Court, which ordered the suspension of the effects of the unfavorable decision to Telef&#xf3;nica issued by the High Court.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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, Telef&#xf3;nica filed its response seeking dismissal of such motion for lack of legal basis. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 14, 2019,&#160;notification was given to Telef&#xf3;nica of the resolution of the Supreme Court which, based on the extraordinary appeal filed by Telef&#xf3;nica, abolished the decision of the High Court in Prague dated August 5, 2016 and remanded the case back to the High Court.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In December 2021, the High Court of Prague confirmed its appointment of an expert in order to produce a new expert report to assess the reliability of market-based price criteria used in the mandatory tender offer and further &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;technical issues discussed in this litigation, including a new discounted cashflow valuation of the shares of &#x10c;esk&#xfd; Telecom in 2005.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Appeal against the resolution of ANATEL to sanction Telef&#xf3;nica Brasil for breaches of the Fixed Telephony Regulation&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In May 2018, Telef&#xf3;nica filed a judicial action for annulment against a resolution issued by ANATEL (the National Telecommunications Agency of Brazil) in March 2018 concluding the administrative process for determination of non-compliance with obligations (&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Processo Administrativo para Apura&#xe7;&#xe3;o de Descumprimento de Obriga&#xe7;&#xf5;es&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; or "PADO") investigating alleged infractions of the Fixed Telephony Regulation by Telef&#xf3;nica Brasil.     &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;This PADO investigation had been suspended during the negotiations of the conduct adjustment term (&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Termo de Ajustamento de Conduta&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; or "TAC") between Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In its resolution of March 2018, ANATEL considered that Telef&#xf3;nica Brasil committed several infractions, specifically 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The fine imposed by ANATEL and appealed by Telef&#xf3;nica Brasil is approximately 211 million Brazilian reals (approximately 38 million euros), which amounted to approximately &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;575&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million Brazilian reals after currency value updates and accrued interest as of December 31, 2022 (approximately &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;103&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; million euros).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brasil has not yet paid the fine, although Telef&#xf3;nica Brasil has guaranteed its payment through a guarantee insurance submitted to the court.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As of the date of these financial statements, there has been no conciliation and the proceeding is following its normal course.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;ICSID Arbitration Telef&#xf3;nica, S.A. vs. Republic of Colombia&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In the local arbitration brought by Colombia against Colombia Telecomunicaciones (&#x201c;ColTel&#x201d;), 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On August 29, 2017, ColTel&#x2019;s share capital was increased in order to make the payment ordered by the local arbitral award; Telef&#xf3;nica, S.A. contributed and disbursed an amount equivalent to 67.5% of the award&#x2019;s amount (317  million euros) and the Colombian Government contributed an amount equivalent to the remaining 32.5% (153 million euros).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 1, 2018, Telef&#xf3;nica, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The ICSID Court was constituted on February 26, 2019, with Jos&#xe9; Emilio Nunes Pinto as President, Horacio A. Grigera Na&#xf3;n appointed by Telef&#xf3;nica, S.A., and Yves Derains appointed by Colombia. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Colombia filed Preliminary Objections on Jurisdiction on August 5, 2019. Telef&#xf3;nica, S.A. responded to Colombia&#x2019;s objections in its Claimant&#x2019;s Memorial on September 23, 2019, in which it also requested that Colombia pay compensation for damages caused to Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 23, 2019, Colombia submitted its Complementary Objections on Jurisdiction as well as a request for Bifurcation, to which Telef&#xf3;nica, S.A. responded on November 29, 2019. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica, S.A.&#x2019;s claim is pending. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On July 3, 2020, Colombia filed its reply to the claim filed by Telef&#xf3;nica before the ICSID.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On November 2, 2020, Telef&#xf3;nica presented its response to Colombia's reply.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;After the hearing held in April 2021, on July 27, 2021 the hearing of closing arguments was held, and the parties are awaiting the issuance of the arbitration award.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica's lawsuit against Millicom International Cellular for default in the sale of Telef&#xf3;nica de Costa Rica&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica, S.A. (Telef&#xf3;nica) 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 Telef&#xf3;nica de Costa Rica TC, S.A.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In March 2020, Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Millicom expressed its refusal to proceed with the closing, arguing that the competent Costa Rican administrative authorities had not issued the appropriate authorization.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 25, 2020, Telef&#xf3;nica 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 Telef&#xf3;nica.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 29, 2020, Millicom filed a Motion to Dismiss, to which Telef&#xf3;nica replied on July 8, 2020.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On August 3, 2020, Telef&#xf3;nica 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 to Telef&#xf3;nica.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 5, 2021, the Motion to Dismiss filed by Millicom in June 2020 was dismissed by the New York Supreme Court. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;ICSID Arbitration Telef&#xf3;nica, S.A. vs. Republic of Peru&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 5, 2021, Telef&#xf3;nica filed a request for arbitration against the Republic of Peru at the ICSID, which was formally registered on March 12, 2021.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica bases its claims on the Agreement for the Promotion and Reciprocal Protection of Investments between the Kingdom of Spain and the Republic of Peru ("APRPI") signed on November 17, 1994. Telef&#xf3;nica argues that the Peruvian tax administration (called Superintendencia Nacional de Aduanas y de Administraci&#xf3;n Tributaria, known as "SUNAT") and other state bodies have failed to comply with the obligations established in the APRPI, including by adopting arbitrary and discriminatory actions.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;It is requested that the defendant be ordered to fully compensate Telef&#xf3;nica for all damages suffered.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Once the Tribunal was constituted, on February 9, 2023, Telef&#xf3;nica filed a request for urgent injunctive relief together with a request for injunctive relief, requesting the suspension of the administrative litigation (acci&#xf3;n contencioso-administrativa or ACA) related to the income tax for the years 1998, 2000 and 2001, as well as the extension of the deadline for submission by Telef&#xf3;nica of the memorial or claim. Following response of Peru, on February 16, 2023, the Tribunal ruled to dismiss Telef&#xf3;nica's request for urgent injunctive relief, to establish the procedural calendar to process the request for injunctive relief and to grant Telefonica two additional weeks to file the memorial or claim.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2013) &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2013, Telef&#xf3;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#xf3;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#xf3;nica Brasil for a period of fifteen years).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;According to ANATEL the renewals, which must be carried out every two years, should be accompanied by a payment equivalent to 2% of all income derived from the provision of personal mobile services, while Telef&#xf3;nica &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In February 2020, Telef&#xf3;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As of December 31, 2022, the amount under litigation was 774&#160;million Brazilian reais (139 million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Appeal against the ANATEL resolution on the calculation of amounts for the renewal of radio frequencies in Brazil associated with the provision of the personal mobile services (filed in 2015)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2015, Telef&#xf3;nica Brasil filed a lawsuit against the resolution of ANATEL which sets forth the calculation of the amount to be paid by Telef&#xf3;nica Brasil for the renewal of radio frequencies associated with the provision of personal mobile services (which has been granted to Telef&#xf3;nica Brasil for a period of fifteen years).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;According to ANATEL the renewals, which must be carried out every two years, should be accompanied by a payment equivalent to 2% of all income derived from the provision of personal mobile services, while Telef&#xf3;nica Brasil believes that the calculation must be made with respect to the income derived from voice services only, which would exclude data services and interconnection revenues.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In August 2016, Telef&#xf3;nica Brasil filed an appeal before the Regional Federal Court of Brasilia after obtaining an unfavorable ruling in the Court of First Instance, which considered that the criteria defended by ANATEL was the one to be followed. Pending judgment on appeal.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As of December 31, 2022, the amount under litigation was 400&#160;million Brazilian reais (72&#160;million euros based on the exchange rate of such date), resulting from the method of calculation of ANATEL that has been appealed.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;UK High Court claim by Phones 4 U Limited against various mobile network operators and other companies, among others, Telef&#xf3;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In late 2018, Phones 4U Limited (in administration) (&#x201c;P4U&#x201d;) commenced a claim in the English High Court in London against various mobile network operators: Everything Everywhere, Deutsche Telekom, Orange, Vodafone, Telef&#xf3;nica, S.A., Telefonica O2 Holdings Limited and Telefonica UK Limited (together the &#x201c;Defendants&#x201d;).  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;P4U carried on a business of selling mobile phones and connections to the public, such connections being supplied by mobile network operators including the Defendants.  In 2013 and 2014, the Defendants declined to extend and / or terminated their contracts to supply connections to P4U. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;P4U went into administration in September 2014. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;P4U alleges that the Defendants ceased to supply connections because they had colluded between themselves in contravention of the United Kingdom and the European Union competition laws and asserts that it has a basis to claim damages for breach of competition law by all the Defendants. The Defendants deny all P4U&#x2019;s allegations.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The claim commenced on December 18, 2018 by P4U. The Defendants filed their initial Defences in the course of April and May 2019, with P4U filing replies on October 18, 2019. The first case management conference took place on March 2, 2020. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The trial was held between May and July 2022. The parties are awaiting the issuance of the sentence.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;b) Other proceedings&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;c) Commitments&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement related to the Sale of Customer Relationship Management (&#x201c;CRM&#x201d;) Business, Atento &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As a result of the sale agreement of Atento by Telef&#xf3;nica, announced on October 12, 2012, and ratified on December 12, 2012, both companies signed a Master Service Agreement which regulates Atento&#x2019;s relationship with the Telef&#xf3;nica Group as a service provider for a period of nine years and which has been amended on May 16, 2014, November 8, 2016, May 11, 2018, November 28, 2019 and February 4, 2022. The term of the agreement was extended for Spain and Brazil in November 2016, for two additional years until the end of 2023, and for Latin America in February 2022, for one additional year until the end of 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;By virtue of this agreement, Atento became Telef&#xf3;nica&#x2019;s preferred Contact Center and Customer Relationship Management (&#x201c;CRM&#x201d;) 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 Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;s business margin to the final calculation.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;s sales to the Telef&#xf3;nica Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Master Agreement sets forth a reciprocal arrangement, whereby Atento assumes similar commitments to subscribe certain telecommunications services from Telef&#xf3;nica.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Investment Framework Agreement between the shareholders of Colombia Telecomunicaciones, S.A. ESP BIC - Sale of shares&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Pursuant to the Framework Investment Agreement entered into between the shareholders of Colombia Telecomunicaciones, S.A. ESP BIC (a) if Telef&#xf3;nica decides to dispose or transfer of all or part of its shareholding in Colombia Telecomunicaciones, S.A. ESP BIC to third parties, Telef&#xf3;nica 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 BIC 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 Telef&#xf3;nica and through the procedure established by Law 226 of 1995 for the disposal of shares held by public entities and, (b) if the Colombian Government transfer its shares in Colombia Telecomunicaciones, S.A. ESP BIC 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement for the sale of the shares of Telef&#xf3;nica Gesti&#xf3;n de Servicios Compartidos Espa&#xf1;a, S.A.U., Telef&#xf3;nica Gesti&#xf3;n de Servicios Compartidos Argentina, S.A. and T-Gestiona Servicios Contables y Capital Humano, S.A.C.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On March 1, 2016, a share purchase agreement between, on one hand, Telef&#xf3;nica, S.A., Telef&#xf3;nica Servicios Globales, S.L.U. and Telef&#xf3;nica Gesti&#xf3;n de Servicios Compartidos Per&#xfa;, S.A.C. (as sellers), and, on the other hand, IBM Global Services Espa&#xf1;a, S.A., IBM del Per&#xfa;, S.A.C., IBM Canada Limited and IBM Americas Holding, LLC (as purchasers) for the sale of the companies Telef&#xf3;nica Gesti&#xf3;n de Servicios Compartidos Espa&#xf1;a, S.A.U., Telef&#xf3;nica Gesti&#xf3;n 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Following the aforementioned share purchase agreement and in connection with the latter transaction, also, on December 31, 2015, Telef&#xf3;nica subscribed a master services agreement with IBM for the outsourcing of economic-financial and HR activities and functions to be provided to the Telef&#xf3;nica Group during a period of ten years, for a total amount of approximately 450 million euros. Most of the Telef&#xf3;nica Group&#x2019;s subsidiary companies have already adhered to that master services agreement.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On March 31, 2021 and March 31, 2022 the master services agreement with IBM for the outsourcing of economic-financial and HR activities and functions to be provided to the Telef&#xf3;nica Group was amended. By virtue of these amendments the term may be extended for those adhered companies that decide to extend their services beyond the initial term.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, on July 29, 2022 a new amendment was executed by virtue of which the term may be extended for those adhered companies in Latinoamerica that decide to extend some of their services.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Commitments derived from the agreements reached for the acquisition of football (soccer) related rights between Telef&#xf3;nica (through its affiliate Telef&#xf3;nica Audiovisual Digital, S.L.U.) and LaLiga, UEFA and RFEF &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 25, 2018, Telef&#xf3;nica 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.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. Telef&#xf3;nica, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 21, 2018, Telef&#xf3;nica 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).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 11, 2019 the definitive agreement on such broadcasting rights (package 6) was signed. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On July 2, 2020 Telef&#xf3;nica 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, after the expiration of the agreement with Mediapro of June 28, 2018 for previous cycle 2018/2019 to 2020/2021.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The agreement guarantees Telef&#xf3;nica all media rights with respect to the main European football competitions for all its customers, both residential and horecas (hotels, restaurants, cafes, etc.).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The direct acquisition from UEFA of this "premium" content will also allow Telef&#xf3;nica 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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 previous cycle and without any year-to-year increase.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 13, 2021, Telef&#xf3;nica was provisionally awarded the exclusive broadcasting rights of five matches per matchday of the Campeonato Nacional de Liga de Primera Divisi&#xf3;n (&#x201c;LaLiga&#x201d;), for pay television in the residential market, in Spain. Telef&#xf3;nica received the first pick in 18 matchdays of each season and second pick in 17 matchdays, including "El Cl&#xe1;sico" of the second round (Option D bis, Lot D.1 bis).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Likewise, Telef&#xf3;nica was awarded the exclusive broadcasting rights of three matchdays, which contain ten matches each matchday, including matches of Real Madrid C.F., F.C. Barcelona and Club Atl&#xe9;tico de Madrid against the six first classified of the previous season; and Valencia C.F., Athletic Club de Bilbao or Real Betis Balompi&#xe9;, if they were not among the aforementioned first classified (Option D bis, Lot D.3 bis).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The award includes the cycle 2022/2023 to 2026/2027 although the 2025/2026 and 2026/2027 seasons are subject to the CNMC lifting or modifying the resolution that limits the maximum duration of the contracts entered into by Telef&#xf3;nica for the acquisition of sports rights (Expte. VC/0612/14).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The award has been made at a price of 520&#160;million euros for each of the seasons. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The award was subject to the execution of an agreement between Telef&#xf3;nica and LaLiga with the remaining terms and requirements established in the LaLiga tender, which was signed on January 19, 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On March 28, 2022, Telef&#xf3;nica entered into an agreement with the company DAZN for the distribution of the so-called DAZN LaLiga Package. Such package includes the remaining five football matches per match-weekend of the Spanish First Division Football Championship, in 35 out of 38 match-weekends for exploitation on pay television for residential subscribers in Spain (Option D bis, Package D.2 bis).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;This is a non-exclusive agreement for five seasons, from 2022/2023 to 2026/2027. The agreed value amounts 280&#160;million euros for each of the seasons.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, on July 29, 2022, Telef&#xf3;nica signed a new contract with LaLiga for the non-exclusive broadcasting of the channel that broadcasts matches of Second Division of National Football Championship League for seasons 2022/2023, 2023/2024 and 2024/2025, with Telef&#xf3;nica&#x2019;s unilateral option to extend for two additional seasons, with a variable cost that amounts to approximately 16&#160;million euros per season.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Similarly, on August 4, 2022, a contract was formalized with LaLiga for the non-exclusive broadcast of the LaLiga TV Bar Channel for non-residential subscribers for the 2022/2023 season with a minimum guarantee of 29 million euros, being the final price variable.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On November 2, 2022, Telefonica was also awarded by Real Federacion Espa&#xf1;ola de f&#xfa;tbol (RFEF) exclusive pay television rights of Copa del Rey Competiton and Supercopa de Espa&#xf1;a for seasons 2022/2023, 2023/2024 and 2024/2025. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%"&gt;Wholesale Access Services Agreement with AT&amp;amp;T Mexico&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On November 21, 2019, Pegaso PCS, S.A. de C.V. (&#x201c;Telef&#xf3;nica M&#xe9;xico&#x201d;) and AT&amp;amp;T Comunicaciones Digitales, S. de R.L. de C.V. (&#x201c;AT&amp;amp;T Mexico&#x201d;) entered into a Wholesale Access Services Agreement (&#x201c;Wholesale Agreement&#x201d;), under which AT&amp;amp;T Mexico agreed to provide wholesale wireless access to Telef&#xf3;nica M&#xe9;xico on 3G, 4G and any other future technology available in Mexico.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Wholesale Agreement has a minimum duration of eight years, renewable for additional consecutive periods of three years. Such Wholesale Agreement establishes a gradual migration of Telef&#xf3;nica M&#xe9;xico&#x2019;s traffic to AT&amp;amp;T Mexico's access network over the first three years of the agreement.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As set forth in the Wholesale Agreement such migration was completed during the first half of 2022. As a result, Telef&#xf3;nica M&#xe9;xico&#x2019;s wireless access infrastructure was turned off and Telef&#xf3;nica M&#xe9;xico no longer uses the licensed spectrum that it used in the past to operate its network. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement to share network infrastructure between Telef&#xf4;nica Brasil (VIVO) and TIM. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 19, 2019 Telef&#xf4;nica Brasil S.A. and TIM S.A. executed two agreements for the share of 2G, 3G and 4G mobile network infrastructure. Both companies reiterate that they will preserve their commercial and customer management autonomy, regardless of any infrastructure sharing agreement.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The agreements cover the following matters:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;1.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt"&gt;2G network Sharing: to be implemented in areas where both operators are present, so that the operator reminiscent will provide 2G mobile connectivity services to the Vivo and TIM customer base, resulting in the disconnection of overlapping sites and therefore achieving cost reduction and the optimization of spectrum use.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;2.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.67pt"&gt;3G and 4G network Sharing: covering only cities with less than 30 thousand inhabitants with the aim of sharing 4G and 3G network in cities where only one operator is present (coverage expansion) and where both already provide services (network consolidation). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Both agreements were approved by the Telecommunications and Competition regulatory authorities ("Ag&#xea;ncia Nacional de Telecomunica&#xe7;&#xf5;es&#x201d; - ANATEL and &#x201c;Conselho Administrativo de Defesa Econ&#xf3;mica&#x201d; - CADE).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Contracts for the provision of IT services with Nabiax &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2019 Telef&#xf3;nica, S.A. signed an agreement for the sale of a portfolio of eleven data center businesses to a company (hereinafter "Nabiax") controlled by Asterion Industrial Partners SGEIC, S.A. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the same time as this sale, agreements were entered into with Nabiax to provide housing services to the Telef&#xf3;nica Group, allowing Telef&#xf3;nica to continue providing housing services to its customers, in accordance with its previous commitments.&#160;Such service provision agreements have an initial term of ten years and include minimum consumption commitments in terms of capacity. These commitments are consistent with the Group's expected consumption volumes, while prices are subject to review mechanisms based on inflation and market reality. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 7, 2021, Asterion Industrial Partners SGEIC, S.A. and Telef&#xf3;nica Infra (T. Infra), the infrastructure unit of the Telef&#xf3;nica Group, reached an agreement for the contribution to Nabiax of four additional data centers owned by the Telef&#xf3;nica Group (two of them located in Spain and two in Chile). In exchange for the contribution of these four data centers, T. Infra will receive a 20% equity stake in Nabiax. Once the relevant authorizations and other conditions precedent to the contribution of the two data centers located in Spain were obtained, the partial closing of the transaction took place as of July 21, 2021, whereby Telef&#xf3;nica Group contributed those data centers to Nabiax, with T. Infra receiving in exchange a 13.94% stake in Nabiax at this stage. The agreement was complemented by the signing of a contract for the provision to Telef&#xf3;nica of housing services from those two data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period of ten years.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Once the conditions related to the contribution of the two data centers located in Chile were fulfilled, on May 24, 2022, the complete closing of the transaction took place, and T. Infra reached a 20% stake in Nabiax (see Note 10). The agreement was complemented by the signing of a contract for the provision to Telef&#xf3;nica of housing services from those two data centers under terms and conditions equivalent to those established in the transaction executed in 2019, for an initial period ending in 2031.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;50:50 joint venture with Liberty Global for the combination of both groups' businesses in the United Kingdom&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 7, 2020, Telef&#xf3;nica agreed to enter into a joint venture with Liberty Global plc ("Liberty Global") pursuant to a contribution agreement (as amended, the "Contribution Agreement") between Telef&#xf3;nica, Telefonica O2 Holdings Limited, Liberty Global, Liberty Global Europe 2 Limited and a newly formed entity of which, after closing, each of Telef&#xf3;nica and Liberty Global would hold 50% of its share capital named VMED O2 UK Limited.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;After having obtained the clearance from the Competition and Market Authority (the antitrust authority in the UK) to complete this transaction and having fulfilled all the other pre-closing conditions included in the Contribution Agreement, the transaction was completed on&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;June 1, 2021. From such date, Telef&#xf3;nica and Liberty Global each hold an equal number of shares in VMED O2 UK Limited; after: (i) Telef&#xf3;nica having contributed to VMED O2 UK Limited its O2 mobile business in the United Kingdom and (ii) Liberty Global having contributed its Virgin Media business in the United Kingdom to VMED O2 UK Limited.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The corporate governance of VMED O2 UK Limited is regulated by a shareholders' agreement, which was entered into by the parties to the Contribution Agreement on June 1, 2021 (the "Shareholders' Agreement").&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the date of closing of the transaction, Telef&#xf3;nica, Liberty Global, and certain companies belonging to each shareholder&#x2019;s corporate group entered into certain services, reverse services, licensing and data protection agreements with VMED O2 UK Limited and certain entities belonging to the VMED O2 UK Limited group. In particular, Telef&#xf3;nica and Liberty Global agreed that each shareholder&#x2019;s group would provide certain services, either on a transitional or ongoing basis to VMED O2 UK Limited and its group and that, for a limited period of time, VMED O2 UK Limited would also provide certain reverse services to specific companies belonging to the corporate group of each of its shareholders.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Pursuant to the terms of the above referred services agreements, the transitional services that are to be provided by the Telef&#xf3;nica Group to VMED O2 UK Limited shall be provided for terms ranging from 7 to 24 months while the ongoing services that are to be provided by the Telef&#xf3;nica Group to VMED O2 UK Limited will be provided for periods of &lt;span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzM3Njk4_fe18cb56-1584-4b8a-8be8-8ebf18a8b142"&gt;two&lt;/span&gt; to six years, depending on the service. The services provided by the Telefonica Group to VMED O2 UK Limited consist primarily of technology and telecommunication services that will be used by or will otherwise benefit VMED O2 UK Limited. In addition to providing VMED O2 UK Limited with such services, the mobile operators of the Telefonica Group and VMED O2 UK Limited will maintain their roaming commercial relationships in order to reciprocally provide roaming services for their respective customers. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Likewise, as of closing of the transaction Telef&#xf3;nica granted certain trademark license agreements to VMED O2 UK Limited (the &#x201c;VMED O2 UK Limited Trademark Licenses&#x201d;). Pursuant to the VMED O2 UK Limited Trademark Licenses, Telefonica Group licensed the use of Telef&#xf3;nica and O2 brand rights to VMED O2 UK Limited.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Purchase Agreement for Acquisition of UPI Mobile Assets of Oi Group&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 28, 2021, Telef&#xf3;nica Brasil executed the Purchase and Sale Agreement of Shares and Other Covenants (the &#x201c;Oi Agreement&#x201d;), by and among Oi M&#xf3;vel SA - In Judicial Recovery, as "Seller", Telef&#xf3;nica Brasil, Tim S.A. and Claro S.A., as &#x201c;Buyers&#x201d;, and Oi S.A. - In Judicial Recovery and Telemar Norte Leste S.A. - In Judicial Recovery, as intervening parties and guarantors of the seller&#x2019;s obligations. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 20, 2022, the closing of the transaction related to the purchase agreement for the acquisition of the assets of Oi Group's mobile business operations  (the "UPI Mobile Assets") took place, and Telef&#xf3;nica Brasil acquired, on such date, all the shares of Garliava RJ Infraestrutura e Redes de Telecomunica&#xe7;&#xf5;es S.A. (Garliava), a special purpose company, to which the mobile assets of Oi Group assigned to Telef&#xf3;nica Brasil had been contributed under the segregation plan stated in the Oi Agreement.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brasil thus acquired its share of mobile assets of the Oi Group for an amount of 5,373 million Brazilian reais (approximately 1,063 million euros at the exchange rate at such date), having paid, on such day, the amount of 4,885 million Brazilian reais (approximately 972 million euros). The remaining amount, equivalent to 10% of the payment made on that date, was withheld and its release is currently subject to certain ongoing discussions regarding price adjustments, as provided for in the Oi Agreement. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Likewise, on such date, Telef&#xf3;nica Brasil: (i) committed to an additional payment of 110 million Brazilian reais (approximately 23 million euros) of which 40 million Brazilian reais were paid at that date (approximately 8 million euros), subject to the fulfilment of certain targets by Oi; (ii) made a payment of approximately 148 million Brazilian reais (approximately 29 million euros) for certain transition services to be provided by Oi to Garliava; and (iii) entered into a take-or-pay data transmission capacity agreement, with a net present value of 179 million Brazilian reais (approximately 35 million euros), to be paid in monthly installments during a period of 10 years.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The mobile assets of Oi Group finally assigned to Telef&#xf3;nica Brasil were the following:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;a.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt"&gt;Customers: approximately 12.5 million (equivalent to 30% of the total customer base of the mobile assets of Oi Group) &#x2013; according to ANATEL&#x2019;s February 2022 data;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;b.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:27.67pt"&gt;Spectrum: 43MHz as national population-weighted average (46% of the radiofrequency of the mobile assets of Oi Group); and&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;c.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.23pt"&gt;Infrastructure: contracts for the use of approximately 2.7 thousand sites of mobile access (corresponding to 19% of the sites of the mobile assets of Oi Group).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;All commitments assumed were duly submitted to ANATEL and CADE during 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 3, 2022, Telef&#xf3;nica Brasil initiated an arbitration procedure against Oi S.A. &#x2013; In Judicial Recovery (&#x201c;Seller&#x201d;), pursuant to the terms of the Oi Agreement, alleging manifest breach by Seller of certain terms of the Oi Agreement, after the exchange of notices about the post-closing price adjustment between Buyers and Seller, upon the competent request of arbitration filed with the Market Arbitration Chamber. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 1, 2023, Telef&#xf3;nica Brasil's Extraordinary Shareholders' Meeting was held and Garliava&#x2019;s merger into Telef&#xf3;nica Brasil was approved, subject to prior approval from ANATEL and the conclusion of certain systemic operations. Once such conditions are fulfilled, Telef&#xf3;nica Brasil&#x2019;s Board of Directors will convene a new meeting to verify the accomplishment of such conditions and to give effects to said merger.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Investment Agreement with Allianz and Telef&#xf3;nica Germany&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 29, 2020, Telef&#xf3;nica Infra Germany GmbH (&#x201c;TEF Infra Germany&#x201d;, a subsidiary indirectly wholly-owned by Telef&#xf3;nica through Telef&#xf3;nica Infra, S.L.U.) entered into an investment agreement (and related contracts, including a partners&#x2019; agreement which sets forth the principles of corporate governance of the joint venture) with several entities belonging to the Allianz Group ("Allianz") and Telef&#xf3;nica Germany 1. Beteiligungsgesellschaft mbH (a subsidiary wholly-owned by Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG) (&#x201c;TEF Germany&#x201d;) for the creation of a joint venture to deploy Fiber-to-the-Home (FTTH) in Germany, pursuant to which TEF Infra Germany and TEF Germany conditionally agreed to invest up to 500 million euros equity in total (400 million euros by TEF Infra Germany and &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;100 million euros by TEF Germany) and Allianz conditionally agreed to invest up to 1,000 million euros through different sources of funding over a six year period.&#160;&#160;&#160;&#160;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The closing of the transaction and the acquisition of the joint control took place on December 18, 2020. The registration of Allianz and TEF Germany as limited partners of the joint venture in the German commercial registry occurred on January 21, 2021. After the closing of the transaction, the Allianz Group and the Telef&#xf3;nica Group each holds 50% in the joint venture under a co-control governance model. Telef&#xf3;nica Group&#x2019;s ownership is held through TEF Infra Germany holding 40% and TEF Germany holding a 10% stake.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;New long-term master services agreement in the United Kingdom&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 7, 2021, each of Telef&#xf3;nica U.K. and Vodafone U.K. entered into new Master Services Agreements with Cornerstone Telecommunications Infrastructure Limited (&#x201c;CTIL&#x201d;), their passive tower network infrastructure partnership which is 50:50 jointly owned and operated by the two operators. The new agreements came into effect on January 1, 2021, with initial terms of 8 years, with three additional 8-year renewal periods.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;CTIL was formed in 2012 through the consolidation of both Telef&#xf3;nica U.K. and Vodafone U.K.&#x2019;s existing basic network infrastructure, including towers and masts, which were transferred to the joint operation. CTIL currently operates c.14,200 macro sites with a 2.0x tenancy ratio (including active sharing) and c.1,400 micro sites. CTIL also provides management services for the anchor tenants for a further c.5,100 third party sites where their active equipment is deployed. Telef&#xf3;nica's stake in CTIL is currently held through VMED O2 UK Limited (see Note 10), the joint venture between Telefonica and Liberty Global plc in the United Kingdom. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The new agreements do not materially impact existing network agreements and will continue to allow CTIL to primarily serve its shareholders as well as some third parties.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Transaction between Colombia Telecomunicaciones S.A. ESP BIC and Kohlberg Kravis Roberts (&#x201c;KKR&#x201d;)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On July 16, 2021, Colombia Telecomunicaciones S.A. ESP BIC and KKR entered into an agreement to sign the following contracts:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(i) An assets purchase agreement for the fiber optic assets owned by Colombia Telecomunicaciones S.A. ESP BIC with a Colombian company controlled by KKR (InfraCo, SpA), in consideration for an initial payment of 320&#160;million U.S. dollars, which may be subject to post-closing adjustments under usual conditions for this type of operation. As well as a subsequent payment, consisting of the possibility of receiving a higher consideration from its result in network deployment activities, for an amount of up to an additional 100&#160;million U.S. dollars.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(ii) A contract through which Colombia Telecomunicaciones S.A. ESP BIC will acquire a 40% stake in a Spanish company controlled by KKR, which it holds the remaining 60%. The Colombia Telecomunicaciones S.A. ESP BIC&#xb4;s contribution would be a portion of the consideration received from assets purchase agreement for the fiber optic assets.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;(iii) Several commercial contracts between Colombia Telecomunicaciones S.A. ESP BIC and InfraCo, SpA for the provision of wholesale connectivity services by InfraCo, SpA to Colombia Telecomunicaciones S.A. ESP BIC, deployment of fiber optic network and other related services.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The signing of the contracts of numerals (i) and (iii), as well as the execution of the aforementioned operations contracts, was subject to the respective contractual provisions and to the obtaining of the necessary regulatory authorizations.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 11, 2022, after obtaining the necessary regulatory authorizations and meeting certain agreed conditions, the transaction was executed. Therefore, Colombia Telecomunicaciones S.A. ESP BIC executed the sale of fiber optic assets to Onnet Fibra Colombia S.A.S. (&#x201c;Onnet&#x201d;), a company with which it also entered into a series of commercial contracts by virtue of which (i) Onnet will provide wholesale connectivity services to Colombia Telecomunicaciones S.A. ESP BIC, and (ii) Colombia Telecomunicaciones S.A. ESP BIC will provide to Onnet fiber optic network deployment services and other related services. Simultaneously, Colombia Telecomunicaciones S.A. ESP BIC acquired shares equivalent to a 40% in Alamo HoldCo S.L., a Spanish company that owns 100% of Onnet's shares (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement for the purchase of 40% of the share capital of Telxius Telecom, S.A.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 1, 2022, Telef&#xf3;nica&#x2019;s subsidiary, Pontel Participaciones, S.L. (&#x201c;Pontel&#x201d;), a company which is held 83.35% by Telef&#xf3;nica and 16.65% by Pontegadea Inversiones, S.L. (&#x201c;Pontegadea&#x201d;), reached an agreement with Taurus Bidco S.&#xe0; r.l. (&#x201c;Taurus&#x201d;, a company managed by KKR) for the purchase of  40% of the share capital of Telxius Telecom, S.A. (&#x201c;Telxius&#x201d;), held by Taurus, for an estimated amount of 215.7&#160;million euros, being the referred price subject to, among others, adjustments derived from the sale of the towers business to American Tower. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 18, 2023, after obtaining the necessary regulatory and competition authorizations, the transaction was completed. (See Note 31).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As a result of the transaction, Pontel, which prior to the closing of the transaction held the remaining 60% of the share capital of Telxius, has become the sole shareholder of this company. Pontegadea has increase its holding in Pontel to 30% and Telef&#xf3;nica holds a 70% stake. Thus, in terms of indirect holding in Telxius, Pontegadea has increased its holding from 9.99% to 30% and Telef&#xf3;nica from 50.01% to 70%.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement reached between Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.U. (&#x201c;Telef&#xf3;nica Espa&#xf1;a Filiales&#x201d;), T. Infra, Vauban and Cr&#xe9;dit Agricole Assurances for the establishment of Bluevia Fibra&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On July 25, 2022, Telef&#xf3;nica Espa&#xf1;a Filiales S.A.U, Telef&#xf3;nica Infra S.L.U. (T. Infra) and the consortium formed by Vauban Infrastructure Partners ("Vauban") and Cr&#xe9;dit Agricole Assurances ("CAA") reached an agreement for the establishment of a company, Bluevia Fibra, S.L. ("Bluevia"), whose corporate purpose is the deployment and commercialization of a fiber-to-the-home (FTTH) network mainly in rural areas in Spain. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Once the relevant regulatory authorizations were obtained, the closing of the transaction took place on December 20, 2022. After closing, the Telef&#xf3;nica Group holds 55% of the capital of Bluevia (30% through Telef&#xf3;nica Espa&#xf1;a Filiales and 25% through T. Infra), with Vauban/CAA holding the remaining 45%. At closing, Bluevia purchased from Telef&#xf3;nica Espa&#xf1;a 3.9&#160;million already passed real estate units, and agreed to deploy 1.1&#160;million additional units over the next two years, reaching a total footprint of 5&#160;million passed real estate units. The 3.9&#160;million already passed real estate units acquired by Bluevia represent 14% of Telef&#xf3;nica's FTTH network in Spain, with Telef&#xf3;nica Espa&#xf1;a retaining ownership of the remainder of the network. In addition, as part of the transaction, the Telef&#xf3;nica Group has entered into a series of service provision agreements with Bluevia which entail the mutual provision and receipt of services by/to Telefonica Group and Bluevia. As part of the transaction Telefonica Group has contributed equity funds to Bluevia in the amount of approximately 1,247&#160;million euros and the Vauban/CAA consortium has acquired 45% of Bluevia from Telef&#xf3;nica Espa&#xf1;a for 1,021&#160;million euros in cash (see Note 2). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Agreement reached by T. Infra, Liberty Global and InfraVia for the establishment of a fiber-to-the-home (FTTH) joint venture in the United Kingdom&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;On July 29, 2022, T. Infra, Liberty Global plc ("Liberty Global") and InfraVia Capital Partners ("InfraVia") reached an agreement for the establishment of a joint venture, "nexfibre", for the deployment of fiber-to-the-home (FTTH) to 5&#160;million homes in the United Kingdom not reached by VMED O2 UK Limited's (VMO2) network, with potential for expansion to an additional 2&#160;million homes. The fiber network will offer wholesale FTTH access to telecommunications service providers, with VMO2 acting as the lead customer, as well as providing a range of technical services.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Once the relevant regulatory authorizations were obtained and the other conditions were fulfilled, the closing of the transaction took place on December 15, 2022. After closing, Liberty Global and T. Infra participate by halves in a joint vehicle that holds a 50% interest in nexfibre, with InfraVia owning the remaining 50%. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The business plan for the initial rollout to 5&#160;million homes envisages an investment of approximately 4,500&#160;million pounds (approximately 5,072 million euros at the exchange rate at December 31, 2022). The three partners have funded their pro-rata share of equity funding for the construction, totaling up to 1,400&#160;million pounds (approximately 1,578 million euros at the exchange rate at December 31, 2022). In addition, nexfibre has entered into a facilities agreement with a consortium of banks for an amount of up to 3,300&#160;million pounds (approximately 3,719 million euros at the exchange rate at December 31, 2022). As part of the transaction, InfraVia has made and will continue to make certain payments to Liberty Global and T. Infra, a portion of which will be linked to the progress of the construction of the network.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;d) Environmental and climate change matters&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Environmental management of the Group&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Commitment to protect the environment is part of the Company's general strategy and is the responsibility of the Board of Directors. The performance in this area is regularly supervised by the Board's Sustainability Committee and the Responsible Business Office, made up of the global areas which execute that strategy alongside the business units.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Group has global environmental and energy management policies, and externally certified environmental management systems in accordance with ISO 14001 in all Group companies. The environment is a central issue throughout the Company, involving both operational and management areas as well as business and innovation areas.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Managing environmental impact and energy consumption is a strategic priority and carbon reduction targets are part of the variable remuneration of all Company employees, including the Senior Management. In addition, Telef&#xf3;nica, S.A.'s long-term share-based incentive plans 2021-2025 (see Note 27) include CO2 Emission Neutralization targets, in line with the target set by the Company.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Climate change and energy&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In managing climate change, Telef&#xf3;nica identifies adaptation and mitigation measures and new opportunities for growth and development. To analyse climate change risks, the recommendations of the Task Force on Climate Related Financial Disclosures (TCFD) are followed, identifying short, medium and long-term risks. Specifically, physical and transition risks identify the importance of reducing GHG emissions and energy consumption, and are managed in accordance with Telef&#xf3;nica's decarbonization roadmap. Opportunities, meanwhile, identify different lines on which Telef&#xf3;nica seeks to develop its activity through the Energy Efficiency Plan and the Renewable Energy Plan, the Sustainable Finance Framework and the development of new products and services.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;All of this is contained in the Climate Action Plan, which defines Telef&#xf3;nica's decarbonization process to achieve net zero emissions by 2040, which involves minimising its own emissions (Scope 1 and 2) and those of the value chain (Scope 3).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;For Telef&#xf3;nica, it is a priority to keep energy consumption stable despite the sharp increase in the digitalization of society and, therefore, in data traffic flowing through the networks. The Group's Energy Efficiency Plan therefore includes initiatives such as network modernization, for example, with investments in fibre optics (more efficient) replacing the copper network, or 5G, and specific projects such as climate modernization.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Company's decarbonization requires not only maximum efficiency in the use of energy, but also that it comes from renewable sources. Telef&#xf3;nica's Renewable Energy Plan contemplates different solutions such as self-generation, the purchase of renewable electricity with a guarantee of origin and long-term power purchase agreements (PPAs, see Note 26), and prioritizes non-conventional renewable electricity sources, defines the strategy that allows us to reduce operating costs and reduces exposure to fluctuations in electricity prices.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Most of the electricity consumption in own facilities come from renewable sources. In Brazil, it is worth highlighting the continuation of the distributed generation project. In Spain, the four long-term renewable power purchase agreements (PPAs) signed for the period 2022-2031 have come into operation, equivalent to 482 GWh per year for 10 years. These new agreements follow on from the one signed in 2020, enabling Telef&#xf3;nica to achieve a total of 582 GWh of renewable electricity covered by PPAs in Telef&#xf3;nica Spain. In October 2022, Telefonica Germany concluded a PPA with an energy supplier which provides long-term energy security and energy supply with renewable energies from an offshore wind farm over the period from 2025 to 2035. In February 2023 Telefonica Germany has concluded a further PPA for the period 2025 to 2040. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In terms of renewable self-generation, the Group has photovoltaic self-generation systems in several buildings in Spain, with solar production for self-consumption (without surplus to the grid) under two models: the first with its own CapEx and the second under a service model, where the electricity generated is paid for at a lower market value.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As part of its net zero objective, Telef&#xf3;nica supports projects that absorb or reduce carbon emissions in order to offset and neutralize emissions that are not reduced. To this end, it purchases carbon credits from projects under the highest standards in certain regions where Telef&#xf3;nica operates. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group contracted, both locally and globally, several insurance programs in order to mitigate the possible occurrence of an incident stemming from the risks of environmental liability and/or natural disasters, to guarantee the continuity of its activity.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Sustainable financing&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Sustainable financing is a key tool for supporting the transformation of the business through investment in projects with a positive environmental and social impact. In 2018, the Company published its Sustainable Financing Framework. This was updated in January 2021 and, in both cases, was endorsed by a second party opinion from Sustainalytics. The framework is linked to the United Nations Sustainable Development Goals and aligned with the Green Bond, Social Bond and Sustainable Bond Principles of the International Capital Market Association (ICMA).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica was the first issuer of senior green bonds and hybrid instruments (green and sustainable) in the telecommunications sector. The funds that were obtained have been allocated to projects focused on switching our network from copper to fiber, which is more efficient and suffers fewer faults; the rollout and improvement of mobile connectivity in rural areas; and the promotion of entrepreneurship and job creation through investments in start-ups.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition to senior green bonds and hybrid instruments, the Group use other sustainable bank financing tools, such as loans and credits linked to sustainability objectives that make it possible to progress steadily towards such important corporate targets as reducing emissions and gender equality. Also in this case, the main syndicated loan of the Telef&#xf3;nica Group is linked to sustainability criteria in line with the corporate Sustainability-linked Loan Framework, which was drawn up in late 2021 with a second opinion from Sustainalytics.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In 2022, the Company maintained an active presence in the capital market through several issuances. These included its first sustainable senior bond issuance for 1,000 million euros in May (see Appendix III) with a term of nine years. The funds obtained from this issuance will be allocated to projects related to transformation of the telecommunications network via the rollout of fiber optics and 5G technology, as well as social projects aimed at promoting inclusive connectivity, entrepreneurship and job creation. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Company&#x2019;s second hybrid green instrument issuance took place in November for the value of 750 million euros (see Note 17.c), with the first redemption date at six years. In this case, the investment from funds will be used to switch off obsolete equipment and transform mobile infrastructures through energy efficiency projects.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Despite the market instability, these two issues were well received by the market with a broadly international and diversified investor base. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Already in January 2023, a new green hybrid instrument has been issued for an amount of 1,000 million euros has been carried out (see Note 31).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica Brazil carried out its first issuance of  sustainability-linked bonds, to an aggregated amount of 3,500 million reais (equivalent to 628 million euros at closing 2022 exchange rate, see Appendix III). Financing costs are linked to compliance with sustainability targets between now and 2027.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In terms of bank financing, the Telef&#xf3;nica Group&#x2019;s main syndicated loan was refinanced at a corporate level in early 2022 for the amount of 5,500 million euros (see Note 18 and Appendix V), the interest applied to which will be linked to compliance with sustainability targets. The deal was supported by nearly 30 entities.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Committed lines and bilateral financing operations were also carried out during the year with numerous financial entities, obtaining a total volume of 3,864 million euros at the close of 2022, the interest applied to which is also linked to compliance with sustainability targets. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Overall, as at December 31, 2022, the Group's sustainable financing amounts to 15,956 million euros, broken down as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.326%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.474%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sustainable financing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,842&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Senior green bond of Telef&#xf3;nica Emisiones (Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Senior sustainable bond of Telef&#xf3;nica Emisiones (Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked bonds of Telef&#xf3;nica Brazil (Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked facilities of Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undated deeply subordinated securities (hybrid instruments) (Note 17.c)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,000&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undrawn facilities at December 31, 2022 (Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,114&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked facility of Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked facility of Telefonica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked bilateral facilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,956&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;e) Auditors&#x2019; fees&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The services commissioned to the auditors meet the independence requirements stipulated by the Spanish Audit Law 22/2015, July 20, the US SEC rules and the Public Company Accounting Oversight Board (PCAOB). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The expenses accrued by the Group, in respect of the fees for services rendered to the various member firms of the PwC network, of which PricewaterhouseCoopers Auditores, S.L. ("PwC Auditores, S.L."), the auditors of Telef&#xf3;nica, S.A., forms part, amounted to 20.07 million euros and 19.99 million euros in 2022 and 2021, respectively.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of these amounts is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:35.942%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PwC Auditores, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other PwC &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PwC Auditores, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other PwC &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audit services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18.71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audit-related services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.82&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8.72&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11.35&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20.07&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8.21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11.78&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19.99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Audit services includes audit fees of Telef&#xf3;nica, S.A. individual and consolidated financial statements and its subsidiaries, as well as reviews of interim financial statements. These Audit services also incorporate the integrated audits of the financial statements for the annual report Form 20-F to file with the US SEC for those entities currently required including, therefore, the internal control audit over the financial information to comply with the requirements of the Sarbanes-Oxley 2002 Act (Section 404). Also includes audit work related with legal and regulatory requirements that the auditor must necessarily perform in their function and audit and reviews of financial statements in connection with financial transactions.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Audit-related services: services related to the review of the information required by regulatory authorities, agreed financial reporting procedures not requested by legal or regulatory bodies, the issuance of comfort letters, the report on the information relating to the system of internal control over financial reporting (ICFR) and the verification of the non-financial information in the annual reports.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;During the years 2022 and 2021, the Principal Auditor has not performed other services than the Audit services or the Audit-related services in the Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;PwC Auditores, S.L., has provided the following services to the Group during the years 2022 and 2021: the individual and consolidated financial statements audit, reviews of interim financial statements, the integrated audit of the financial statements for the annual report Form 20-F to file with the US SEC, the internal control audit over the financial information to comply with the requirements of the Sarbanes-Oxley 2002 Act (Section 404), the issuance of comfort letters, agreed financial reporting procedures and the verification of the non-financial information in the annual reports.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The expenses accrued to Other Audit Firms, other than those integrated in the international PwC network, that have provided audit services to companies included in the consolidation of the Group for the year 2022 have amounted to a total of 1.46 million euros (1.58 million euros in 2021), the detail of the audit services corresponds to 0.83 million euros (0.55 million euros in 2021).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;f) Trade and other guarantees&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Company is required to issue trade guarantees and deposits for concession and spectrum tender bids (see Note 19) and in the ordinary course of its business. No significant additional liabilities in the accompanying consolidated financial statements are expected to arise from guarantees and deposits issued.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;g) Directors&#x2019; and Senior Executives&#x2019; compensation and other benefits&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The compensation of the members of Telef&#xf3;nica&#x2019;s Board of Directors is governed by article 35 of the Company&#x2019;s By-Laws, which provides that the annual amount of the compensation to be paid thereby to all of the Directors in their capacity as such, i.e., as members of the Board of Directors and for the performance of the duty of supervision and collective decision-making inherent in such body, shall be fixed by the shareholders at the General Shareholders' Meeting. The Board of Directors shall determine the exact amount to be paid within such limit and the distribution thereof among the Directors, taking into account the duties and responsibilities assigned to each Director, their membership on Committees within the Board of Directors and other objective circumstances that it deems relevant. Furthermore, Executive Directors shall receive such compensation as the Board determines for the performance of executive duties delegated or entrusted to them by the Board of Directors. Such compensation shall conform to the Director compensation policy approved by the shareholders at the General Shareholders&#x2019; Meeting. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In accordance with the foregoing, the shareholders acting at the Ordinary General Shareholders&#x2019; Meeting held on April 11, 2003 set at 6&#160;million euros the maximum amount of annual gross compensation to be received by the Board of Directors as a fixed allotment and as attendance fees for attending the meetings of the Advisory or Control Committees of the Board of Directors. Thus, as regards fiscal year 2022, the total amount of compensation accrued by the Directors of Telef&#xf3;nica, in their capacity as such, &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;was 2,851,801&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; euros for the fixed allocation and for attendance fees.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The compensation of the Directors of Telef&#xf3;nica in their capacity as members of the Board of Directors, of the Executive Commission and/or of the Advisory or Control Committees consists of a fixed amount payable monthly and of attendance fees for attending the meetings of the Advisory or Control Committees. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Set forth below are the amounts established in fiscal year 2022 as fixed amounts for belonging to the Board of Directors, the Executive Commission and the Advisory or Control Committees of Telef&#xf3;nica and the attendance fees for attending meetings of the Advisory or Control Committees of the Board of Directors: &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Compensation of the Board of Directors and of the Committees thereof&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.706%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.026%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.360%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.508%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amounts in euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Position&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Board of Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Executive Commission&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Advisory or Control Committees &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chairman&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;240,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vice chairman&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Executive Member&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Proprietary Member&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Independent Member&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other external&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros.  &lt;/span&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In this regard, it is noted that the Executive Chairman, Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez, waived the receipt of the above amounts (i.e., 240,000 euros as Chairman of the Board of Directors and 80,000 euros as Chairman of the Executive Commission). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Likewise, the fixed remuneration of 1,923,100 euros established for the 2023 financial year related to executive roles carried out by Executive Chairman, Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez is equal to that received in the &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;previous seven years (i.e. 2022, 2021, 2020, 2019, 2018, 2017 and 2016), which was set in his capacity as Chief Operating Officer, remaining invariably after his appointment as Chairman in 2016. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The fixed remuneration, for his executive roles, of 1,600,000 euros that the Chief Operating Officer (C.O.O.), Mr. &#xc1;ngel Vil&#xe1; Boix, has established for the 2023 financial year is equal to the one received in the years 2022, 2021, 2020 and 2019.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Individualized description&lt;/span&gt;&lt;/div&gt;Appendix II provides an individual breakdown by item of the compensation and benefits that the members of the Board of Directors and of the Senior Management of the Company have accrued and/or received from Telef&#xf3;nica, S.A. and from other companies of the Telef&#xf3;nica Group during fiscal year 2022. Likewise, the compensation and benefits accrued and/or received, during such year, by the members of the Company's Senior Management are broken down.</ifrs-full:DisclosureOfAdditionalInformationExplanatory>
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colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;December 31, 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sustainable financing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" 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style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Senior green bond of Telef&#xf3;nica Emisiones (Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Senior sustainable bond of Telef&#xf3;nica Emisiones (Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked bonds of Telef&#xf3;nica Brazil (Appendix III)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;628&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked facilities of Colombia Telecomunicaciones&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;214&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undated deeply subordinated securities (hybrid instruments) (Note 17.c)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,000&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Undrawn facilities at December 31, 2022 (Note 18)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,114&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked facility of Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked facility of Telefonica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainability linked bilateral facilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,956&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #86888c;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:ScheduleOfSustainableFinancingTableTextBlock>
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      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTozNjBhZTNjYTRkNzE0YmFkODg3MzAxYzhiZGY0NzNkZS90YWJsZXJhbmdlOjM2MGFlM2NhNGQ3MTRiYWQ4ODczMDFjOGJkZjQ3M2RlXzExLTEtMS0xLTk2MjIzNA_49f2f4c0-e661-45ba-ae1c-2841eaa534cd"
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      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      decimals="-4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU0MDAz_c4da9c8d-ea97-438d-a7eb-929699344790"
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    <ifrs-full:AuditorsRemuneration
      contextRef="iafd8e61e0a474d94835defb911176a36_D20210101-20211231"
      decimals="-4"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU0MDI0_a1c97de6-014c-4471-b54c-6510c43a8630"
      unitRef="eur">19990000</ifrs-full:AuditorsRemuneration>
    <ifrs-full:DisclosureOfAuditorsRemunerationExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwOTA3_64f04672-e781-4f2e-9d10-48852f431dfb">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of these amounts is as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:35.942%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.297%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.25pt solid #414b61;padding:0 1pt"/&gt;&lt;td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:0.25pt solid #414b61;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PwC Auditores, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other PwC &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;PwC Auditores, S.L.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other PwC &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audit services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.98&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18.71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audit-related services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.82&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8.72&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11.35&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20.07&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8.21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11.78&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19.99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAuditorsRemunerationExplanatory>
    <ifrs-full:AuditorsRemunerationForAuditServices
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      unitRef="eur">7730000</ifrs-full:AuditorsRemunerationForAuditServices>
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      unitRef="eur">10980000</ifrs-full:AuditorsRemunerationForAuditServices>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItMy0xLTEtNTEwNDQy_560b0682-0d25-420f-b420-9b9a7fb0629a"
      unitRef="eur">18710000</ifrs-full:AuditorsRemunerationForAuditServices>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZToyOWQ2MjkyNDAyYTQ0YTIwYWU1Yjg4ZjJiYmVmZjRjZS90YWJsZXJhbmdlOjI5ZDYyOTI0MDJhNDRhMjBhZTViODhmMmJiZWZmNGNlXzItNC0xLTEtNTEwNDQy_28e3a543-221f-4bdd-b004-473641865573"
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      unitRef="eur">10970000</ifrs-full:AuditorsRemunerationForAuditServices>
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      unitRef="eur">18360000</ifrs-full:AuditorsRemunerationForAuditServices>
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      unitRef="eur">990000</tef:AuditorsRemunerationForAuditRelatedServices>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwODQx_52d85178-0021-4a1d-bda4-afa59b97c79f">&lt;div style="margin-top:6pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Set forth below are the amounts established in fiscal year 2022 as fixed amounts for belonging to the Board of Directors, the Executive Commission and the Advisory or Control Committees of Telef&#xf3;nica and the attendance fees for attending meetings of the Advisory or Control Committees of the Board of Directors: &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Compensation of the Board of Directors and of the Committees thereof&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.706%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:26.026%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.360%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:22.508%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="12" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Amounts in euros&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Position&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Board of Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Executive Commission&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Advisory or Control Committees &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chairman&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;240,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vice chairman&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Executive Member&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Proprietary Member&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Independent Member&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other external&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #acacac;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros.  &lt;/span&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;TELEF&#xd3;NICA, S.A.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;(Amounts in euros)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.508%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.765%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.260%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Salary&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed remunera-tion&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Allowances&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term variable remuneration&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;4&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Remuneration for belonging to the Board Committees&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other items&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;6&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;br/&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,923,100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,198,897&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,085&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,128,082&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Isidro Fain&#xe9; Casas&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;280,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a Abril P&#xe9;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Javier Echenique Landir&#xed;bar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;337,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,600,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,911,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24,514&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,535,714&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Juan Ignacio Cirac Sasturain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;183,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter Erskine&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;252,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Carmen Garc&#xed;a de Andr&#xe9;s&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;185,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Luisa Garc&#xed;a Blanco&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;196,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter L&#xf6;scher&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;256,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Ver&#xf3;nica Pascual Bo&#xe9; &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Javier de Paz Mancho&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;277,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Jos&#xe9; Riberas Mera&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Rotondo Urcola&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Claudia Sender Ram&#xed;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;160,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Salary: Regarding Mr Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez and Mr &#xc1;ngel Vil&#xe1; Boix, the amount includes the non-variable remuneration earned from their executive functions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, whether or not it can be consolidated over time, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;3&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;4&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Short-term variable 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 2022 and to be paid in the year 2023. In reference to the bonus corresponding to 2021, which was paid in 2022, Executive Board Member Mr Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez received 3,807,738 euros and Executive Board Member Mr &#xc1;ngel Vil&#xe1; Boix received 2,640,000 euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;5&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Commission and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;6&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following table breaks down the amounts accrued and/or received from other companies of the Telef&#xf3;nica Group other than Telef&#xf3;nica, 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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;OTHER COMPANIES OF THE TELEF&#xd3;NICA GROUP&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;(Amounts in euros) &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.290%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.100%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.608%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.418%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.379%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.497%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.803%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Salary&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed remunera-tion&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Allowances&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term variable remuneration&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;4&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Remuneration for belonging to the Board Committees&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other items&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;6&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Isidro Fain&#xe9; Casas&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a Abril P&#xe9;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Javier Echenique Landir&#xed;bar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;177,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Juan Ignacio Cirac Sasturain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter Erskine&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:0 1pt"&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms Carmen Garc&#xed;a de Andr&#xe9;s&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Luisa Garc&#xed;a Blanco&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter L&#xf6;scher&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Ver&#xf3;nica Pascual Bo&#xe9;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Javier de Paz Mancho&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;170,727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;155,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;325,727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Jos&#xe9; Riberas Mera&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Rotondo Urcola&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Claudia Sender Ram&#xed;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid 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1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127,957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127,957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;1.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telef&#xf3;nica Group for his/her executive functions.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;2.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; 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 Telef&#xf3;nica Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;3.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telef&#xf3;nica Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;4.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; 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 2022 and to be paid in the year 2023 by other companies of the Telef&#xf3;nica Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;5.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Remuneration for belonging to the Board Committees of other companies of the Telef&#xf3;nica 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 Telef&#xf3;nica Group, regardless of the effective attendance of the board member such Committee meetings.&lt;/span&gt;&lt;/div&gt;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 Telef&#xf3;nica Group. Also included are the amounts received for membership of the Advisory Boards of Telef&#xf3;nica Espa&#xf1;a, Telef&#xf3;nica Hispanoam&#xe9;rica, Telef&#xf3;nica Tech and Telef&#xf3;nica Ingenier&#xed;a de Seguridad.</tef:DisclosureOfKeyManagementPersonnelCompensationTableTextBlock>
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      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzYtMi0xLTEtNTEwNDQy_3ce3fcd9-1f9c-4363-ae11-2e2bc4521140"
      unitRef="eur">80000</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="ifd070b8919f74a4e8b4e7e6ca58e41a4_D20220101-20221231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzYtMy0xLTEtNTEwNDQy_661dbe50-1b4e-4e94-ba6d-0a479037fafa"
      unitRef="eur">11200</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="icfea2a30ee7a474fbb1228994243126f_D20220101-20221231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzctMS0xLTEtNTEwNDQy_992a3592-7b01-4e44-a8b5-0c31350bb39f"
      unitRef="eur">120000</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="ieb9af4b06acc4b309345bb4efbe08839_D20220101-20221231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzctMi0xLTEtNTEwNDQy_dd61280b-528f-49eb-b0ad-cbca8522a9cb"
      unitRef="eur">80000</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="ibfb885e8b1f746ac9c39a695b7ddc125_D20220101-20221231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90YWJsZTo0M2MyNWNlOWFmOGQ0MmEwYTc5NGQwOTcwZDBhNjRhZC90YWJsZXJhbmdlOjQzYzI1Y2U5YWY4ZDQyYTBhNzk0ZDA5NzBkMGE2NGFkXzctMy0xLTEtNTEwNDQy_2084ac20-3b32-4ac2-a154-4dd9b0ca006e"
      unitRef="eur">11200</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="ia0d0557969a54567aefaa4823da2614d_D20220101-20221231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5MzUy_5321e851-8b4f-43ca-8541-efa01921b258"
      unitRef="eur">240000</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="ib2fbeaa227394363b76182d0dc58ac83_D20220101-20221231"
      decimals="0"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDAz_18be8b22-63fd-4bf5-b9e1-9b82654620c0"
      unitRef="eur">80000</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="i278127b915304bc08b753b116cdd6bd0_D20220101-20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_18be9693-d50a-4fe9-9489-df9831207d3a"
      unitRef="eur">1923100</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="i3863cf3064ed453b91ffe43c904f1bca_D20190101-20191231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_3d54efad-ca3a-4b50-859a-5b3db6bec472"
      unitRef="eur">1923100</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="i3ad4db69d0fb41a6a24faf128fe121b2_D20180101-20181231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_66d61bb0-0a56-4c03-8f1c-fa8e5b868a6d"
      unitRef="eur">1923100</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="idaa70bf2a5734126b2f008c445795f1e_D20160101-20161231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_6fcf58f7-bfa3-4263-8c4a-4a5ea46ba9d9"
      unitRef="eur">1923100</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="i8eab1de12df0429c95b51ffda29c2d37_D20200101-20201231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_89867a73-f969-4b2d-baad-46b02fe51eef"
      unitRef="eur">1923100</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="iff01296e563746f58d0264052ab75c55_D20210101-20211231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_c07a51ce-04d0-4de1-acf2-e4a5ebcdf54e"
      unitRef="eur">1923100</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="ib1da7073c1c649b383c36f2e968854c0_D20170101-20171231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzU5NDkx_c485cfd1-a75f-4fb2-b3f8-a484fc51772e"
      unitRef="eur">1923100</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:KeyManagementPersonnelCompensation
      contextRef="i7f59dcb2a41e4707b1e8a6551192bac1_D20220101-20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjEvZnJhZzoyNGVkMTlmMDk1M2Y0NWE1YWIxZDk5ODdkN2RiMzE2Ni90ZXh0cmVnaW9uOjI0ZWQxOWYwOTUzZjQ1YTVhYjFkOTk4N2Q3ZGIzMTY2XzYwMDMz_3cf73910-b9ed-4a1f-80b5-d59ca7ebe6f6"
      unitRef="eur">1600000</ifrs-full:KeyManagementPersonnelCompensation>
    <ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzM1NjA_5750ad56-64ed-41b8-ad88-6e065e04bb2e">Operations classified as held for sale&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of non-current assets and disposal groups held for sale and liabilities associated at December&#160;31, 2022 and December&#160;31, 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:52.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.854%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:3pt"&gt;&lt;td colspan="9" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;253&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fiber optic assets in Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;358&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:52.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.854%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:3pt"&gt;&lt;td colspan="9" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Liabilities associated with non-current assets &lt;br/&gt;and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;134&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Fiber assets in Colombia&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On July 16, 2021, Colombia Telecomunicaciones S.A. ESP BIC (Telef&#xf3;nica Colombia) entered into a sale with a Colombian company controlled by Kohlber Kravis Roberts - KKR (Onnet Fibra Colombia S.A.S) for the sale and purchase of certain fiber assets owned by Telef&#xf3;nica Colombia and for the provision of wholesale connectivity services by Onnet Fibra Colombia S.A.S to Telef&#xf3;nica Colombia, the development of activities of deployment of fiber network, and other associated services. On January 11, 2022, once the corresponding authorizations from the regulatory authorities were obtained and after the fulfillment of certain agreed conditions, the transaction was completed (see Note 10).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica M&#xf3;viles El Salvador&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 14, 2021, Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L. (60% of which is held, directly and indirectly, by Telef&#xf3;nica and 40% by Corporaci&#xf3;n Multi Inversiones) reached an agreement with General International Telecom Limited for the sale of the entire share capital of Telef&#xf3;nica M&#xf3;viles El Salvador, S.A. de C.V. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 13, 2022, after the satisfaction of the closing conditions and once the relevant regulatory approvals were obtained, Telef&#xf3;nica Centroam&#xe9;rica Inversiones, S.L transferred its stake (99.3%) in Telef&#xf3;nica M&#xf3;viles El Salvador to General International Telecom El Salvador, S.A. de C.V. for an amount of 139 million U.S. dollars (approximately 121 million euros at the exchange rate at such date).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of assets and liabilities of Telef&#xf3;nica M&#xf3;viles 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, 2021 was as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.326%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.474%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;T. M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;211&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;42&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables and other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payable and other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;71&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables and other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory>
    <tef:DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNjQvZnJhZzo0MTk0ZGQ4YzFmMWI0NThhOWEyNzFiMDMyZjBmNjAyNS90ZXh0cmVnaW9uOjQxOTRkZDhjMWYxYjQ1OGE5YTI3MWIwMzJmMGY2MDI1XzM1OTU_7f6c4cad-9d56-4535-a905-1a6dc3bff081">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of non-current assets and disposal groups held for sale and liabilities associated at December&#160;31, 2022 and December&#160;31, 2021 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:52.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.854%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:3pt"&gt;&lt;td colspan="9" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;253&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fiber optic assets in Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;57&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current assets and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;358&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:52.993%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.854%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr style="height:3pt"&gt;&lt;td colspan="9" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Liabilities associated with non-current assets &lt;br/&gt;and disposal groups held for sale&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;134&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The breakdown of assets and liabilities of Telef&#xf3;nica M&#xf3;viles 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, 2021 was as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:61.326%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:36.474%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;T. M&#xf3;viles El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;211&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Intangible assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goodwill&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Property, plant and equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rights of use&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Financial assets and other non-current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;42&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inventories&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receivables and other current assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tax receivables&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Other current financial assets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payable and other non-current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Deferred tax liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Non-current provisions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;71&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current financial liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Current lease liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Payables and other current liabilities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</tef:DisclosureOfDetailedInformationOnOperationsClassifiedAsHeldForSaleAndLiabilitiesAssociatedTableTextBlock>
    <ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners
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The new expiration date is January 13, 2028.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt"&gt;On January 18, 2023, Telef&#xf3;nica informed that, once the corresponding regulatory and competition approvals were obtained, Pontel Participaciones, S.L., Telef&#xf3;nica&#x2019;s subsidiary held 83.35% by Telef&#xf3;nica and 16.65% by Pontegadea Inversiones, S.L., acquired 40% of the share capital of Telxius Telecom, S.A. from Taurus Bidco S.&#xe0; r.l. (a company managed by KKR). As a result of the transaction, Pontel Participaciones, S.L., which held the remaining 60% of Telxius Telecom, S.A.'s share capital, has become the sole shareholder of Telxius Telecom, S.A. Likewise, Pontegadea Inversiones, S.L. increased its holding in Pontel Participaciones, S.L. to 30% and Telef&#xf3;nica has now a 70% stake.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt"&gt;On January 23, 2023, Telef&#xf3;nica Emisiones, S.A.U. redeemed 1,277 million euros of its notes issued on January 22, 2013. These notes were guaranteed by Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:27.65pt"&gt;In January 2023, Telef&#xf3;nica Europe, B.V. carried out the following transactions related to its capital structure:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x25e6;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt"&gt;a new issue amounting to 1,000 million euros, guaranteed by Telef&#xf3;nica, S.A. An amount equal to the net proceeds of the issue of the securities will be subject to specific eligibility criteria to be applied to finance new or refinance existing projects, as detailed in Telef&#xf3;nica's SDG Framework. The settlement took place on February 2, 2023; and&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x25e6;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt"&gt;a tender offer for the following hybrid instruments: (i) any outstanding 1,250 million euros Undated 5.7 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "September 2023 Notes") and (ii) any outstanding 1,000 million euros Undated 10 Year Non-Call Deeply Subordinated Guaranteed Fixed Rate Reset Securities (the "March 2024 Notes"), irrevocably guaranteed by Telef&#xf3;nica, S.A. Telef&#xf3;nica Europe, B.V. accepted the purchase in cash of the tendered securities for an aggregate principal amount, with respect to the September 2023 Notes, of 388 million euros, and an aggregate principal amount, with respect to the March 2024 Notes, of 612 million euros. The tender offer settled on February 3, 2023.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:28pt"&gt;On February 14, 2023, Telef&#xf3;nica, S.A. signed a bilateral loan of 150 million euros and maturing in 2033.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90ZXh0cmVnaW9uOjExMTU4YzRmOTE1MjRhNGI5YmMzMDFiZjMxMDljZGI0Xzg2NA_3019aaac-e047-4e48-a6a5-59d10be92275">&lt;div style="margin-top:9pt;text-align:center"&gt;&lt;span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%"&gt;Appendix I: Scope of consolidation&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;The main companies of the Telef&#xf3;nica Group&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below lists the main companies comprising the Telef&#xf3;nica Group at December 31, 2022 and the main investments consolidated using the equity method.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Included for each company are the company name, corporate purpose, country, functional currency, share capital (in millions of functional currency units), the Telef&#xf3;nica Group&#x2019;s effective shareholding and the company or companies through which the Group holds a stake.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Parent Company&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica,S.A.&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U. &lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Espa&#xf1;a, S.A.U.&lt;br/&gt;Wireless communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Teleinform&#xe1;tica y Comunicaciones, S.A.U. (Telyco)&lt;br/&gt;Promotion, marketing and distribution of telephone and telematic equipment and services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Soluciones de Inform&#xe1;tica y Com. de Espa&#xf1;a S.A.U.&lt;br/&gt;Telecommunications systems, networks and infrastructure engineering&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Soluciones de Outsourcing, S.A.&lt;br/&gt;Promotion and networks management&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Integrales de Distribuci&#xf3;n S.A.U.&lt;br/&gt;Logistic service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;br/&gt;Organization and operation of multimedia service-related business&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;226&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Audiovisuales, S.A.U.&lt;br/&gt;Provision of all type of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Broadcast Services, S.L.U.&lt;br/&gt;DSNG-based transmission and operation services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TBSC Barcelona Producciones, S.L.U. &lt;br/&gt;Provision of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Broadcast Services, S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U. &lt;br/&gt;Provision of all type of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Technology, S.A.U.&lt;br/&gt;Global management and operation of IT systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Educaci&#xf3;n Digital, S.L. &lt;br/&gt;Vertical e-learning portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bluevia Fibra, S.L.&lt;br/&gt;Operations and exploitation of FTTH network and other connectivity services.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A. (30%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L.  (25%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 Soluciones de Instalacion y Mantenimiento S.L. &lt;br/&gt;Marketing and management in the installation, sale and maintenance of photovoltaic equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,975&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany Holdings Limited (69.22%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (1.36%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;br/&gt;Wireless communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G (70.57%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;T. Germany Management, GmbH (0.01%)    &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;E-Plus Service GmbH&lt;br/&gt;Wireless communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany Business Sales GmbH&lt;br/&gt;Technological and consulting services in Big Data provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Telef&#xf3;nica Deutschland Finanzierungs GmbH&lt;br/&gt;Integrated cash management, consulting and financial support for Group companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;br/&gt;Wireline telephony operator &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63,571&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L. (36.31%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (37.83%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A. (0.06%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Brasil, Ltda.&lt;br/&gt;ISP and portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Infraestructura e Seguran&#xe7;a Brasil Ltda.&lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;289&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Brasil, Ltda.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.&lt;br/&gt;Wireline telephony operator &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vivo ventures fundo de investimento em participacoes multiestrategia.&lt;br/&gt;Investment funds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A. (73.29%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L (2.00%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vita IT Com&#xe9;rcio e Servi&#xe7;os de Solu&#xe7;&#xf5;es em TI Ltda.&lt;br/&gt;Technical support, maintenance and other IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Infraestructura e Seguran&#xe7;a Brasil Ltda.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;78&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Venezolana, C.A.&lt;br/&gt;Wireless communications operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Venezuela&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VED&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;394&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. (86.72%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Comtel Comunicaciones Telef&#xf3;nicas, S.A. (2.56%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones S.A. ESP BIC&lt;br/&gt;Communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,410&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operaciones Tecnol&#xf3;gicas y Comerciales S.A.S&lt;br/&gt;Communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,330&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones S.A. ESP BIC &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pegaso Pcs S.A. de C.V. &lt;br/&gt;Communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. (99.95%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Celular de Telefon&#xed;a S.A. de CV. (0.05%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks M&#xe9;xico, S.A. de C.V.&lt;br/&gt;ISP, portal and real-time financial information services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;305&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fisatel M&#xe9;xico, S.A. de C.V. SOFOM E.N.R.&lt;br/&gt;Integrated cash mangement, consulting and financial support for Group companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,505&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. (99.99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pegaso Pcs S.A. de CV. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Otecel, S.A.&lt;br/&gt;Wireless communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;183&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Argentina, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;239,296&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Argentina, S.A. (77.64%) &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L. (22.36%) &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Argentina, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27,201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;br/&gt;Wireless communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,364,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inversiones Telef&#xf3;nica Internacional Holding SpA. (98.96%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.  (1.04%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A. &lt;br/&gt;Local and international long distance telephony services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;809,773&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile Holdings, S.L.U.&lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica del Per&#xfa;, S.A.A.&lt;br/&gt;Local, domestic and international long distance telephone service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98.94&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Media Networks Latin America, S.A.C&lt;br/&gt;Telecommunications research activities and proyects&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;158&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles del Uruguay, S.A.&lt;br/&gt;Wireless communications and services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica , S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra Germany GmbH&lt;br/&gt;Broadband telecommunications operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L.  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica O2 Holdings Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.  (99.99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital S.A. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MmO2 Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica O2 Holding Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 International Holdings Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Europe) Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Netherlands ) Holdings BV.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 International Holdings Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany Holdings Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,463&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Europe) Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Europe) Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,895&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica International Holding, B.V&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;br/&gt;Sociedad holding&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&#160;&#160;&#160;&#160;&#160;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;br/&gt;International service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Global Solutions USA, Inc.&lt;br/&gt;Provision of telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions Germany GmbH. &lt;br/&gt;International service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions M&#xe9;xico, S.A. de C.V.&lt;br/&gt;Carrying out research activities and projects in the field of telecommunications&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L.&lt;br/&gt;Developer Telco Services Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Ltd.&lt;br/&gt;Developer Telco Services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;br/&gt;Talent identification and development in ICT.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Chile Tecnolog&#xed;a e Innovaci&#xf3;n Limitada&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;WY Telecom, S.A. de C.V.&lt;br/&gt;Talent identification and development in ICT&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;173&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Argentina, S.A.&lt;br/&gt;Talent identification and development in ICT&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L. (95%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Colombia, S.A.S.&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,304&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Proyecto Wayra, C.A.&lt;br/&gt;Commercial, industrial and mercantile activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Venezuela&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VED&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Venezolana, C.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Per&#xfa; Aceleradora de Proyectos, S.A.C.&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;28&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra UK Ltd.&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Per&#xfa;, S.A.&lt;br/&gt;ISP and portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Argentina, S.A.&lt;br/&gt;ISP and portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L. (99.99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica International Holding, B.V. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telfisa Global, B.V.&lt;br/&gt;Integrated cash management, consulting and financial support for Group companies &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Activities Holding, B.V.&lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telfisa Global, B.V. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Services, GmbH&lt;br/&gt;Purchasing services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Group 3G UMTS Holding, GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Roaming, GmbH&lt;br/&gt;Optimization of network traffic&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Services, GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Group 3G UMTS Holding GmbH&lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Activities Holdings, B.V&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Compras Electr&#xf3;nicas, S.L.&lt;br/&gt;Development and provision of information Society services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Services, GmbH &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Iot &amp;amp; Big Data Tech S.A. &lt;br/&gt;Provision of telemarketing services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering S.L.&lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Iot &amp;amp; Big Data Tech S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering  S.A. de C.V. &lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telfin Ireland DAC.&lt;br/&gt;Intragroup financing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Ingenier&#xed;a de Seguridad, S.A.U.&lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TIS Hispanoam&#xe9;rica, S.L. &lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital, S.A.U.&lt;br/&gt;Finance company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Lotca Servicios Integrales, S.L.&lt;br/&gt;Aircraft ownership and operation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A&lt;br/&gt;Administration of pension funds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fonditel Gesti&#xf3;n, Soc. Gestora de Instituciones de Inversi&#xf3;n Colectiva, S.A.&lt;br/&gt;Administration and representation of collective investment schemes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Investigaci&#xf3;n y Desarrollo, S.A.U.&lt;br/&gt;Telecommunications research activities and projects&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Luxembourg Holding, S.&#xe0;.r.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Luxembourg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Nova Casiopea RE S.A.&lt;br/&gt;Reinsurance&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Luxembourg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Luxembourg Holding, S.&#xe0;.r.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Seguros y Reaseguros Compa&#xf1;&#xed;a Aseguradora, S.A.U.&lt;br/&gt;Realizaci&#xf3;n de operaciones de seguros directos&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Luxembourg Holding, S.&#xe0;.r.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Finanzas, S.A.U.&lt;br/&gt;Integrated cash management, consulting and financial support for Group companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Corredur&#xed;a de Seguros y Reaseguros Compa&#xf1;&#xed;a de Mediaci&#xf3;n, S.A.&lt;br/&gt;Distribution, promotion or preparation of insurance contracts&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Finanzas, S.A.U. (TELFISA) (83.33%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (16.67%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Europe, B.V.&lt;br/&gt;Fund raising in capital markets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Participaciones, S.A.U.&lt;br/&gt;Financial debt instrument issuer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Emisiones, S.A.U.&lt;br/&gt;Financial debt instrument issuer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alian&#xe7;a Atl&#xe2;ntica Holding B.V.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87.4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (50%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A. (37.4%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servi&#xe7;os Empresariais do BRASIL, Ltda.&lt;br/&gt;Management and administrative services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Gesti&#xf3;n Integral de Edificios y Servicios S.L. &lt;br/&gt;Management and administrative services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tempotel, Empresa de Trabajo Temporal, S.A.&lt;br/&gt;Temporary employment agency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Worldwide Limited&lt;br/&gt;Wireless telecommunications activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;br/&gt;Sociedad Holding&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Holding Atticus, B.V.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Soluciones de Criptograf&#xed;a, S.A. &lt;br/&gt;Engineering, research and development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Centroam&#xe9;rica Inversiones ,S.L. &lt;br/&gt;Communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L. &lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech SL. &lt;br/&gt;Ciberseguridad, seguridad de informaci&#xf3;n electr&#xf3;nica y consultor&#xed;a inform&#xe1;tica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Chile SpA.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25,301&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Inc.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;iHackLabs Ltd.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audertis Audit Services S.L. &lt;br/&gt;Provision of audit services in the areas of security, privacy and data protection&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Govertis Advisory Services S.L. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Colombia SAS&lt;br/&gt;Ciberseguridad, seguridad de informaci&#xf3;n electr&#xf3;nica y consultor&#xed;a inform&#xe1;tica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;406&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Cybersecurity Tech Mexico, S.A de C.V.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Ciberseguran&#xe7;a e Tecnolog&#xed;a do Brasil Ltda &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Per&#xfa; S.A.C &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Cybersecurity Tech Ecuador Tctech S.A. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Otecel, S.A. (99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions Ecuador TGSE, S.A. (1%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Deutschland GmbH &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acens Technologies, S.L.&lt;br/&gt;Holding housing and telecommunications solutions Service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Altostratus Solutions, S.L. &lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Holdings Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited  &lt;br/&gt;Headquarters activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Holdings Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Managed Services Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Communication &amp;amp; Collaboration Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Ireland Limited&lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Ocean Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Topco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Midco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Topco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Bidco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Midco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Bidco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Redspire Limited&lt;br/&gt;Software development and information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Limited &lt;br/&gt;Information technology consultancy activities and other services activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis BG LTD &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bulgaria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BGN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis India Private Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;India&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;INR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited (99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited (1%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Kumo Analytics Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Managed Services Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration Holding GmbH&lt;br/&gt;Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech SL.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Accelera Holding&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Germany GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna AB (Sweden)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sweden&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SEK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Boydak Automation AG&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CHF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna ApS (Denmark)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Denmark&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DKK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna B.V. (Netherlands)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna ApS (Denmark)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Leipzig)&lt;br/&gt;Software production, electronic data processing, consultancy, services and project management&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Germany GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;br/&gt;Services in automatic data processing and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pipol A/S&lt;br/&gt;Conduct business with international implementation of business-oriented software solutions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Denmark&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DKK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;A/S (Norway)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Norway&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;NOK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Business Solutions GmbH&lt;br/&gt;Software development and consulting, distribution of corresponding products, systems and processes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Industry Solutions GmbH&lt;br/&gt;Sales, implementation and maintenance of international ERP products&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;AG (Switzerland)&lt;br/&gt;Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CHF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic d.o.o&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Belgrade (Serbia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Serbia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RSD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Ljubijana (Slovenia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Zagreb (Croatia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Croatia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HRK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pontel Participaciones, S.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83.35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;260&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pontel Participaciones, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A.&lt;br/&gt;Provision of high bandwidth communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;417&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Rep&#xfa;blica Dominicana, S.A.S.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Republica Dominicana&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (49.51%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U. (0.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Argentina, S.A.&lt;br/&gt;Operation and deployment of telecommunications infraestructure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;78&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (49.98%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U. (0.03%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Panam&#xe1;, S.A.&lt;br/&gt;Installation and operation of telecommunications networks for wholesalers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Panama&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Puerto Rico, Inc.&lt;br/&gt;High capacity optical fibre network communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Puerto Rico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable USA, Inc.&lt;br/&gt;High bandwidth communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Ecuador, S.A.&lt;br/&gt;Sale of usage of data transmission capacity via an underwater optical fibre network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Chile, S.A.&lt;br/&gt;Involvement in businesses related to public or private telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Guatemala, S.A.&lt;br/&gt;Installation and operation of telecommunications networks for wholesalers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Guatemala&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Per&#xfa;, S.A.C.&lt;br/&gt;Involvement in the operation and deployment of international telecommunications services via underwater cables and others means&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Colombia, S.A.&lt;br/&gt;Supply of data transmission capacity via underwater cable system&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (47.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Chile, S.A. (0.83%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Per&#xfa;, S.A.C. (0.84%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Guatemala, S.A. (0.83%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Argentina, S.A. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Brasil Participa&#xe7;oes, Ltda.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Brasil, Ltda.&lt;br/&gt;Operation and deployment of telecommunications infrastructures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Brasil Participa&#xe7;oes, Ltda.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Bolivia, S.A.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bolivia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (49.01%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U. (0.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Argentina, S.A. (0.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VMED O2 UK Limited &lt;br/&gt;Integrated provider of fixed and mobile services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica O2 Holdings  Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FiBrasil Infraestrutura e Fibra &#xd3;tica S.A.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43.7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A. (18.7%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra S.L. (25%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VivaE Educa&#xe7;&#xe3;o Digital S.A. &lt;br/&gt;Training for professional and management development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37.40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;br/&gt;Investment in money and/or securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39.74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Infraco SpA.&lt;br/&gt;Operation of physical fibre optic infrastructure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39.74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Do Brasil, Ltda.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (10%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Mexico, S.A. de C.V. SOFOM ENR&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (9.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Per&#xfa;, S.A.C.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (9.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Colombia, S.A.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (9.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Chile, SpA. &lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;547&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mobile Financial Services Holding SPRL&lt;br/&gt;Financial services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Belgium&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Internacional Holding, B.V &#160;(26.28%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Holding Atticus, B.V (23.72%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Consumer Finance, Establecimiento Financiero de Cr&#xe9;dito, S.A.&lt;br/&gt;Specialised credit institution&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Consumer Finance Colombia SAS. &lt;br/&gt;Specialised credit institution&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo Holdco S.L. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones S.A. ESP BIC  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ONNET Fibra Colombia S.A.S.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45,852&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo Holdco S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;The Smart Steps Data Technology Company&lt;br/&gt;Big data services in China&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;China&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CNY&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Iot &amp;amp; Big Data Tech S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Internet para todos S.A.C&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;364&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54.09&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica del Per&#xfa;, S.A.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Prosegur Alarmas, S.L.&lt;br/&gt;Private security services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prosegur Soluciones S.A.U.&lt;br/&gt;Private security services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Prosegur Alarmas, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Producci&#xf3;n, S.L. &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Uno, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Dos, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Canarias, S.L.U &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Bizkaia, S.L.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 de Repsol y Movistar S.L. &lt;br/&gt;Development and marketing of photovoltaic self-consumption products and/or services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG TopCo/HoldCo General Partner GmbH. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra Germany GmbH. (40%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G. (7.06%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG TopCo GmbH &amp;amp; Co KG &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra Germany GmbH. (40%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G. (7.06%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG HoldCo GmbH&amp;amp; Co KG &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG TopCo GmbH &amp;amp; Co KG &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG General Partner GmbH &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG HoldCo GmbH&amp;amp; Co KG &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unsere Gr&#xfc;ne Glasfaser GmbH &amp;amp; Co KG &lt;br/&gt;Broadband telecommunications operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG HoldCo GmbH&amp;amp; Co KG &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco S.L.&lt;br/&gt;Securities transactions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L.  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Digital Data Centre BidCo, S.L.U.&lt;br/&gt;Management and administration of equity securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Renting, S.A.&lt;br/&gt;Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Holdco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Jvco Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Holdco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Main changes in the scope of consolidation for the year 2022&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Acquisition of new companies&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of inclusion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VivaE Educa&#xe7;&#xe3;o Digital S.A. &lt;br/&gt;Training for professional and management development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;02/28/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.&lt;br/&gt;Wireline telephony operator &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vivo ventures fundo de investimento em participacoes multiestrategia.&lt;br/&gt;Fondos de inversi&#xf3;n&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vita IT Com&#xe9;rcio e Servi&#xe7;os de Solu&#xe7;&#xf5;es em TI Ltda.&lt;br/&gt;Technical support, maintenance and other IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering S.L.&lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering  S.A. de C.V. &lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Topco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Midco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Bidco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Redspire Limited&lt;br/&gt;Software development and information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Limited &lt;br/&gt;Information technology consultancy activities and other services activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis BG LTD &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bulgaria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis India Private Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;India&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Kumo Analytics Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Managed Services Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration Holding GmbH&lt;br/&gt;Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Germany GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna AB (Sweden)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sweden&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Boydak Automation AG&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna ApS (Denmark)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Denmark&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna B.V. (Netherlands)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Leipzig)&lt;br/&gt;Software production, electronic data processing, consultancy, services and project management&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of inclusion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;br/&gt;Services in automatic data processing and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pipol A/S&lt;br/&gt;Conduct business with international implementation of business-oriented software solutions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dinamarca&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;A/S (Norway)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Norway&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Business Solutions GmbH&lt;br/&gt;Software development and consulting, distribution of corresponding products, systems and processes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Industry Solutions GmbH&lt;br/&gt;Sales, implementation and maintenance of international ERP products&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;AG (Switzerland)&lt;br/&gt;Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic d.o.o&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Belgrade (Serbia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Serbia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Ljubijana (Slovenia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Zagreb (Croatia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Croatia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo Holdco S.L. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ONNET Fibra Colombia S.A.S.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Holdco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liberty Global Investment Jvco Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Incorporation of companies&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.415%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.628%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of incorporation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bluevia Fibra, S.L.&lt;br/&gt;Operations and exploitation of FTTH network and other connectivity services.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 Soluciones de Instalacion y Mantenimiento S.L. &lt;br/&gt;Marketing and management in the installation, sale and maintenance of photovoltaic equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TIS Hispanoam&#xe9;rica, S.L. &lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Canarias, S.L.U &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/01/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Bizkaia, S.L.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 de Repsol y Movistar S.L. &lt;br/&gt;Development and marketing of photovoltaic self-consumption products and/or services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Renting, S.A.&lt;br/&gt;Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Merged companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Surviving company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Compa&#xf1;&#xed;a Independiente de Televisi&#xf3;n, S.L. &lt;br/&gt;Provision of all type of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Divestment companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:58.136%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.129%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.220%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.115%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deconsolidation date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Sold&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bluevia Fibra, S.L.U.&lt;br/&gt;Operations and exploitation of FTTH network and other connectivity services.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles El Salvador, S.A. de C.V.&lt;br/&gt;Provision of wireless and international long distance communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;59.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VivaE Educa&#xe7;&#xe3;o Digital S.A. &lt;br/&gt;Training for professional and management development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Jvco Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Liquidated companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:58.136%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.129%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.220%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.115%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deconsolidation date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Shareholding&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity Tech Argentina S.A. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sao Paulo Telecomunica&#xe7;oes Participa&#xe7;oes Ltda&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Main changes in the scope of consolidation for the year 2021&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Acquisition of new companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of inclusion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Altostratus Solutions, S.L. &lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Deutschland GmbH &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Holdings Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited  &lt;br/&gt;Headquarters activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Managed Services Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Communication &amp;amp; Collaboration Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cancom Ireland Limited &lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Ocean Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prosegur Soluciones S.A.U.&lt;br/&gt;Private security services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco S.L.&lt;br/&gt;Securities transactions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;05/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.94&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Incorporation of companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.415%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.628%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of incorporation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;br/&gt;Investment in money and/or securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions Germany GmbH. &lt;br/&gt;International service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Consumer Finance Colombia SAS. &lt;br/&gt;Specialised credit institution&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Uno, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Dos, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FiBrasil Infraestrutura e Fibra &#xd3;tica S.A.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VMED O2 UK Limited &lt;br/&gt;Integrated provider of fixed and mobile services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Merged companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Surviving company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Govertis Advisory Services Per&#xfa; S.A.C. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Per&#xfa; S.A.C &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cyberrange S.L. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech SL.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ace &amp;amp; Niu Consulting S.L.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Govertis Advisory Services S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Innovaci&#xf3;n Alpha, S.L. &lt;br/&gt;Electronic communications and  audiovisual services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Divestment companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:55.625%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.443%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deconsolidation date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Sold&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inmosites, S.A.U.&lt;br/&gt;Purchase and leasing of real estate related to the telecommunications infrastructure business&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Latam, S.L.U.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Espa&#xf1;a, S.L.U.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Towers Germany, Gmbh.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Per&#xfa; S.A.C.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Chile Holding, S.A.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Chile, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Brasil, Ltda.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inmosites Brasil Participa&#xe7;oes Imobiliarias Ltda &lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Argentina, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Costa Rica TC, S.A.&lt;br/&gt;Wireless communications&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Costa Rica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;br/&gt;Investment in money and/or securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Holdings Ltd&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica United Kingdom Ltd.&lt;br/&gt;Wireless communications&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Giffgaff Ltd&lt;br/&gt;Wireless communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Networks Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cornerstone Telecomunications &lt;br/&gt;Network sharing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tesco Mobile Ltd.&lt;br/&gt;Wireless telephony services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity Tech UK Limited  &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfBasisOfConsolidationExplanatory>
    <ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzAvZnJhZzoxMTE1OGM0ZjkxNTI0YTRiOWJjMzAxYmYzMTA5Y2RiNC90ZXh0cmVnaW9uOjExMTU4YzRmOTE1MjRhNGI5YmMzMDFiZjMxMDljZGI0Xzg2Ng_fa686b0e-05d2-4f0d-84dd-24e90f3be3d2">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below lists the main companies comprising the Telef&#xf3;nica Group at December 31, 2022 and the main investments consolidated using the equity method.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Included for each company are the company name, corporate purpose, country, functional currency, share capital (in millions of functional currency units), the Telef&#xf3;nica Group&#x2019;s effective shareholding and the company or companies through which the Group holds a stake.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Parent Company&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telef&#xf3;nica,S.A.&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U. &lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,024&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Espa&#xf1;a, S.A.U.&lt;br/&gt;Wireless communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;209&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Teleinform&#xe1;tica y Comunicaciones, S.A.U. (Telyco)&lt;br/&gt;Promotion, marketing and distribution of telephone and telematic equipment and services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Soluciones de Inform&#xe1;tica y Com. de Espa&#xf1;a S.A.U.&lt;br/&gt;Telecommunications systems, networks and infrastructure engineering&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Soluciones de Outsourcing, S.A.&lt;br/&gt;Promotion and networks management&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Integrales de Distribuci&#xf3;n S.A.U.&lt;br/&gt;Logistic service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;br/&gt;Organization and operation of multimedia service-related business&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;226&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Audiovisuales, S.A.U.&lt;br/&gt;Provision of all type of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Broadcast Services, S.L.U.&lt;br/&gt;DSNG-based transmission and operation services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TBSC Barcelona Producciones, S.L.U. &lt;br/&gt;Provision of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Broadcast Services, S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U. &lt;br/&gt;Provision of all type of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Technology, S.A.U.&lt;br/&gt;Global management and operation of IT systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Educaci&#xf3;n Digital, S.L. &lt;br/&gt;Vertical e-learning portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bluevia Fibra, S.L.&lt;br/&gt;Operations and exploitation of FTTH network and other connectivity services.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A. (30%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L.  (25%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 Soluciones de Instalacion y Mantenimiento S.L. &lt;br/&gt;Marketing and management in the installation, sale and maintenance of photovoltaic equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,975&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany Holdings Limited (69.22%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (1.36%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;br/&gt;Wireless communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G (70.57%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;T. Germany Management, GmbH (0.01%)    &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;E-Plus Service GmbH&lt;br/&gt;Wireless communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany Business Sales GmbH&lt;br/&gt;Technological and consulting services in Big Data provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Telef&#xf3;nica Deutschland Finanzierungs GmbH&lt;br/&gt;Integrated cash management, consulting and financial support for Group companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;br/&gt;Wireline telephony operator &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63,571&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L. (36.31%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (37.83%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A. (0.06%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Brasil, Ltda.&lt;br/&gt;ISP and portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;136&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Infraestructura e Seguran&#xe7;a Brasil Ltda.&lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;289&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Brasil, Ltda.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.&lt;br/&gt;Wireline telephony operator &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vivo ventures fundo de investimento em participacoes multiestrategia.&lt;br/&gt;Investment funds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;75.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A. (73.29%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L (2.00%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vita IT Com&#xe9;rcio e Servi&#xe7;os de Solu&#xe7;&#xf5;es em TI Ltda.&lt;br/&gt;Technical support, maintenance and other IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Infraestructura e Seguran&#xe7;a Brasil Ltda.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;78&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Venezolana, C.A.&lt;br/&gt;Wireless communications operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Venezuela&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VED&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;394&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. (86.72%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Comtel Comunicaciones Telef&#xf3;nicas, S.A. (2.56%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones S.A. ESP BIC&lt;br/&gt;Communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,410&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Operaciones Tecnol&#xf3;gicas y Comerciales S.A.S&lt;br/&gt;Communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,330&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;67.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones S.A. ESP BIC &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pegaso Pcs S.A. de C.V. &lt;br/&gt;Communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. (99.95%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Celular de Telefon&#xed;a S.A. de CV. (0.05%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks M&#xe9;xico, S.A. de C.V.&lt;br/&gt;ISP, portal and real-time financial information services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;305&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fisatel M&#xe9;xico, S.A. de C.V. SOFOM E.N.R.&lt;br/&gt;Integrated cash mangement, consulting and financial support for Group companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,505&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A. (99.99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pegaso Pcs S.A. de CV. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Otecel, S.A.&lt;br/&gt;Wireless communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;183&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Argentina, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;239,296&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Argentina, S.A. (77.64%) &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L. (22.36%) &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Argentina, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27,201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;br/&gt;Wireless communications services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,364,872&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inversiones Telef&#xf3;nica Internacional Holding SpA. (98.96%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.  (1.04%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A. &lt;br/&gt;Local and international long distance telephony services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;809,773&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile Holdings, S.L.U.&lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica del Per&#xfa;, S.A.A.&lt;br/&gt;Local, domestic and international long distance telephone service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;98.94&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Media Networks Latin America, S.A.C&lt;br/&gt;Telecommunications research activities and proyects&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;158&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles del Uruguay, S.A.&lt;br/&gt;Wireless communications and services operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Hispanoam&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica , S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra Germany GmbH&lt;br/&gt;Broadband telecommunications operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L.  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica O2 Holdings Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.  (99.99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital S.A. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MmO2 Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica O2 Holding Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 International Holdings Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Europe) Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Netherlands ) Holdings BV.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 International Holdings Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Germany Holdings Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,463&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Europe) Ltd.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 (Europe) Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,895&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica International Holding, B.V&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;br/&gt;Sociedad holding&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;291&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&#160;&#160;&#160;&#160;&#160;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;br/&gt;International service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Global Solutions USA, Inc.&lt;br/&gt;Provision of telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;202&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions Germany GmbH. &lt;br/&gt;International service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions M&#xe9;xico, S.A. de C.V.&lt;br/&gt;Carrying out research activities and projects in the field of telecommunications&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L.&lt;br/&gt;Developer Telco Services Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Ltd.&lt;br/&gt;Developer Telco Services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;br/&gt;Talent identification and development in ICT.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Chile Tecnolog&#xed;a e Innovaci&#xf3;n Limitada&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29,899&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;WY Telecom, S.A. de C.V.&lt;br/&gt;Talent identification and development in ICT&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;173&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Argentina, S.A.&lt;br/&gt;Talent identification and development in ICT&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L. (95%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Colombia, S.A.S.&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,304&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Proyecto Wayra, C.A.&lt;br/&gt;Commercial, industrial and mercantile activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Venezuela&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VED&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Venezolana, C.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra Per&#xfa; Aceleradora de Proyectos, S.A.C.&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;28&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Wayra UK Ltd.&lt;br/&gt;Technological innovation based business project development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Per&#xfa;, S.A.&lt;br/&gt;ISP and portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Terra Networks Argentina, S.A.&lt;br/&gt;ISP and portal&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L. (99.99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica International Holding, B.V. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telfisa Global, B.V.&lt;br/&gt;Integrated cash management, consulting and financial support for Group companies &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Activities Holding, B.V.&lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telfisa Global, B.V. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Services, GmbH&lt;br/&gt;Purchasing services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Group 3G UMTS Holding, GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Roaming, GmbH&lt;br/&gt;Optimization of network traffic&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Services, GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Group 3G UMTS Holding GmbH&lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Activities Holdings, B.V&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Compras Electr&#xf3;nicas, S.L.&lt;br/&gt;Development and provision of information Society services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Services, GmbH &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Iot &amp;amp; Big Data Tech S.A. &lt;br/&gt;Provision of telemarketing services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering S.L.&lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Iot &amp;amp; Big Data Tech S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering  S.A. de C.V. &lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telfin Ireland DAC.&lt;br/&gt;Intragroup financing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Ingenier&#xed;a de Seguridad, S.A.U.&lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TIS Hispanoam&#xe9;rica, S.L. &lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital, S.A.U.&lt;br/&gt;Finance company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Lotca Servicios Integrales, S.L.&lt;br/&gt;Aircraft ownership and operation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A&lt;br/&gt;Administration of pension funds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fonditel Gesti&#xf3;n, Soc. Gestora de Instituciones de Inversi&#xf3;n Colectiva, S.A.&lt;br/&gt;Administration and representation of collective investment schemes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Capital, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Investigaci&#xf3;n y Desarrollo, S.A.U.&lt;br/&gt;Telecommunications research activities and projects&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Luxembourg Holding, S.&#xe0;.r.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Luxembourg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Nova Casiopea RE S.A.&lt;br/&gt;Reinsurance&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Luxembourg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Luxembourg Holding, S.&#xe0;.r.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Seguros y Reaseguros Compa&#xf1;&#xed;a Aseguradora, S.A.U.&lt;br/&gt;Realizaci&#xf3;n de operaciones de seguros directos&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Luxembourg Holding, S.&#xe0;.r.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Finanzas, S.A.U.&lt;br/&gt;Integrated cash management, consulting and financial support for Group companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Corredur&#xed;a de Seguros y Reaseguros Compa&#xf1;&#xed;a de Mediaci&#xf3;n, S.A.&lt;br/&gt;Distribution, promotion or preparation of insurance contracts&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Finanzas, S.A.U. (TELFISA) (83.33%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (16.67%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Europe, B.V.&lt;br/&gt;Fund raising in capital markets&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Participaciones, S.A.U.&lt;br/&gt;Financial debt instrument issuer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Emisiones, S.A.U.&lt;br/&gt;Financial debt instrument issuer&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alian&#xe7;a Atl&#xe2;ntica Holding B.V.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87.4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (50%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A. (37.4%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servi&#xe7;os Empresariais do BRASIL, Ltda.&lt;br/&gt;Management and administrative services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Gesti&#xf3;n Integral de Edificios y Servicios S.L. &lt;br/&gt;Management and administrative services rendered&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tempotel, Empresa de Trabajo Temporal, S.A.&lt;br/&gt;Temporary employment agency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Worldwide Limited&lt;br/&gt;Wireless telecommunications activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Servicios Globales, S.L.&lt;br/&gt;Sociedad Holding&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Holding Atticus, B.V.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;Telef&#xf3;nica Latinoam&#xe9;rica Holding, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Soluciones de Criptograf&#xed;a, S.A. &lt;br/&gt;Engineering, research and development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Centroam&#xe9;rica Inversiones ,S.L. &lt;br/&gt;Communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L. &lt;br/&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech SL. &lt;br/&gt;Ciberseguridad, seguridad de informaci&#xf3;n electr&#xf3;nica y consultor&#xed;a inform&#xe1;tica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Chile SpA.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25,301&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Inc.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;iHackLabs Ltd.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Audertis Audit Services S.L. &lt;br/&gt;Provision of audit services in the areas of security, privacy and data protection&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Govertis Advisory Services S.L. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Colombia SAS&lt;br/&gt;Ciberseguridad, seguridad de informaci&#xf3;n electr&#xf3;nica y consultor&#xed;a inform&#xe1;tica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;406&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Cybersecurity Tech Mexico, S.A de C.V.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;br/&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Ciberseguran&#xe7;a e Tecnolog&#xed;a do Brasil Ltda &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Per&#xfa; S.A.C &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Cybersecurity Tech Ecuador Tctech S.A. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Otecel, S.A. (99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions Ecuador TGSE, S.A. (1%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Deutschland GmbH &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Acens Technologies, S.L.&lt;br/&gt;Holding housing and telecommunications solutions Service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Altostratus Solutions, S.L. &lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Holdings Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited  &lt;br/&gt;Headquarters activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Holdings Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Managed Services Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Communication &amp;amp; Collaboration Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Ireland Limited&lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Ocean Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Topco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Midco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Topco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Bidco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Midco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Bidco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Redspire Limited&lt;br/&gt;Software development and information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Limited &lt;br/&gt;Information technology consultancy activities and other services activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis BG LTD &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bulgaria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BGN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis India Private Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;India&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;INR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited (99%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited (1%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Kumo Analytics Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Managed Services Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration Holding GmbH&lt;br/&gt;Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech SL.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Accelera Holding&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Germany GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna AB (Sweden)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sweden&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SEK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Boydak Automation AG&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CHF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna ApS (Denmark)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Denmark&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DKK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna B.V. (Netherlands)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna ApS (Denmark)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Leipzig)&lt;br/&gt;Software production, electronic data processing, consultancy, services and project management&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Germany GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;br/&gt;Services in automatic data processing and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pipol A/S&lt;br/&gt;Conduct business with international implementation of business-oriented software solutions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Denmark&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DKK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;A/S (Norway)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Norway&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;NOK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Business Solutions GmbH&lt;br/&gt;Software development and consulting, distribution of corresponding products, systems and processes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Industry Solutions GmbH&lt;br/&gt;Sales, implementation and maintenance of international ERP products&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;AG (Switzerland)&lt;br/&gt;Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CHF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic d.o.o&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Belgrade (Serbia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Serbia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RSD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Ljubijana (Slovenia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Zagreb (Croatia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Croatia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HRK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pontel Participaciones, S.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83.35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;260&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pontel Participaciones, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A.&lt;br/&gt;Provision of high bandwidth communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;417&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Rep&#xfa;blica Dominicana, S.A.S.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Republica Dominicana&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (49.51%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U. (0.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Argentina, S.A.&lt;br/&gt;Operation and deployment of telecommunications infraestructure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;78&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (49.98%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U. (0.03%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Panam&#xe1;, S.A.&lt;br/&gt;Installation and operation of telecommunications networks for wholesalers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Panama&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Puerto Rico, Inc.&lt;br/&gt;High capacity optical fibre network communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Puerto Rico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable USA, Inc.&lt;br/&gt;High bandwidth communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Ecuador, S.A.&lt;br/&gt;Sale of usage of data transmission capacity via an underwater optical fibre network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Chile, S.A.&lt;br/&gt;Involvement in businesses related to public or private telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Guatemala, S.A.&lt;br/&gt;Installation and operation of telecommunications networks for wholesalers&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Guatemala&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Per&#xfa;, S.A.C.&lt;br/&gt;Involvement in the operation and deployment of international telecommunications services via underwater cables and others means&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Colombia, S.A.&lt;br/&gt;Supply of data transmission capacity via underwater cable system&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (47.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Chile, S.A. (0.83%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Per&#xfa;, S.A.C. (0.84%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Guatemala, S.A. (0.83%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Argentina, S.A. (0.01%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Brasil Participa&#xe7;oes, Ltda.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Brasil, Ltda.&lt;br/&gt;Operation and deployment of telecommunications infrastructures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Brasil Participa&#xe7;oes, Ltda.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Bolivia, S.A.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bolivia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Am&#xe9;rica, S.A. (49.01%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Espa&#xf1;a, S.L.U. (0.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Cable Argentina, S.A. (0.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VMED O2 UK Limited &lt;br/&gt;Integrated provider of fixed and mobile services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica O2 Holdings  Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FiBrasil Infraestrutura e Fibra &#xd3;tica S.A.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43.7&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A. (18.7%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra S.L. (25%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VivaE Educa&#xe7;&#xe3;o Digital S.A. &lt;br/&gt;Training for professional and management development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37.40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;br/&gt;Investment in money and/or securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39.74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Infraco SpA.&lt;br/&gt;Operation of physical fibre optic infrastructure&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;39.74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Do Brasil, Ltda.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (10%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Mexico, S.A. de C.V. SOFOM ENR&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (9.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Per&#xfa;, S.A.C.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (9.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Colombia, S.A.&lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. (40.5%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A. (9.5%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.344%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.525%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Name and corporate purpose&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Capital&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;%Telef&#xf3;nica Group&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Holding Company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Chile, SpA. &lt;br/&gt;Factoring services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;547&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Factoring Espa&#xf1;a, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mobile Financial Services Holding SPRL&lt;br/&gt;Financial services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Belgium&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;198&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Internacional Holding, B.V &#160;(26.28%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Holding Atticus, B.V (23.72%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Consumer Finance, Establecimiento Financiero de Cr&#xe9;dito, S.A.&lt;br/&gt;Specialised credit institution&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Consumer Finance Colombia SAS. &lt;br/&gt;Specialised credit institution&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Digital Espa&#xf1;a, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo Holdco S.L. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia Telecomunicaciones S.A. ESP BIC  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ONNET Fibra Colombia S.A.S.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45,852&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo Holdco S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;The Smart Steps Data Technology Company&lt;br/&gt;Big data services in China&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;China&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CNY&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;37.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Iot &amp;amp; Big Data Tech S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Internet para todos S.A.C&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;364&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;54.09&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica del Per&#xfa;, S.A.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Prosegur Alarmas, S.L.&lt;br/&gt;Private security services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Espa&#xf1;a Filiales, S.A.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prosegur Soluciones S.A.U.&lt;br/&gt;Private security services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Prosegur Alarmas, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Producci&#xf3;n, S.L. &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Uno, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Dos, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Canarias, S.L.U &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Bizkaia, S.L.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios, S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 de Repsol y Movistar S.L. &lt;br/&gt;Development and marketing of photovoltaic self-consumption products and/or services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Espa&#xf1;a, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG TopCo/HoldCo General Partner GmbH. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra Germany GmbH. (40%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G. (7.06%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG TopCo GmbH &amp;amp; Co KG &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra Germany GmbH. (40%)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Deutschland Holding A.G. (7.06%)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG HoldCo GmbH&amp;amp; Co KG &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG TopCo GmbH &amp;amp; Co KG &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG General Partner GmbH &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG HoldCo GmbH&amp;amp; Co KG &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Unsere Gr&#xfc;ne Glasfaser GmbH &amp;amp; Co KG &lt;br/&gt;Broadband telecommunications operator&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;47.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UGG HoldCo GmbH&amp;amp; Co KG &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco S.L.&lt;br/&gt;Securities transactions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra,  S.L.  &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Digital Data Centre BidCo, S.L.U.&lt;br/&gt;Management and administration of equity securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Renting, S.A.&lt;br/&gt;Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica, S.A. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Holdco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Infra, S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Jvco Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Holdco Limited&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Main changes in the scope of consolidation for the year 2022&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Acquisition of new companies&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of inclusion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VivaE Educa&#xe7;&#xe3;o Digital S.A. &lt;br/&gt;Training for professional and management development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;02/28/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A.&lt;br/&gt;Wireline telephony operator &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vivo ventures fundo de investimento em participacoes multiestrategia.&lt;br/&gt;Fondos de inversi&#xf3;n&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Vita IT Com&#xe9;rcio e Servi&#xe7;os de Solu&#xe7;&#xf5;es em TI Ltda.&lt;br/&gt;Technical support, maintenance and other IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;74.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering S.L.&lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Geprom Software Engineering  S.A. de C.V. &lt;br/&gt;Technical engineering services and other consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mexico&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Topco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Midco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Perpetual Bidco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Holdings Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Redspire Limited&lt;br/&gt;Software development and information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Incremental Group Limited &lt;br/&gt;Information technology consultancy activities and other services activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Group Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Consulting Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis BG LTD &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bulgaria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis India Private Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;India&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Kumo Analytics Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Adatis Managed Services Limited &lt;br/&gt;Information technology consultancy activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration Holding GmbH&lt;br/&gt;Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna Acceleration GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Enhancement GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Germany GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna AB (Sweden)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sweden&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Boydak Automation AG&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna ApS (Denmark)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Denmark&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna B.V. (Netherlands)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Netherlands&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Leipzig)&lt;br/&gt;Software production, electronic data processing, consultancy, services and project management&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of inclusion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Austria GmbH&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;GmbH (Innsbruck)&lt;br/&gt;Services in automatic data processing and information technology&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Austria&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pipol A/S&lt;br/&gt;Conduct business with international implementation of business-oriented software solutions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Dinamarca&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;A/S (Norway)&lt;br/&gt;Computer programming activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Norway&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Business Solutions GmbH&lt;br/&gt;Software development and consulting, distribution of corresponding products, systems and processes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Industry Solutions GmbH&lt;br/&gt;Sales, implementation and maintenance of international ERP products&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;AG (Switzerland)&lt;br/&gt;Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Switzerland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;Adriatic d.o.o&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Belgrade (Serbia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Serbia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Ljubijana (Slovenia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Slovenia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BE-terna&#160;d.o.o Zagreb (Croatia)&lt;br/&gt;Technology services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Croatia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Alamo Holdco S.L. &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ONNET Fibra Colombia S.A.S.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Holdco Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Liberty Global Investment Jvco Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Incorporation of companies&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.415%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.628%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of incorporation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bluevia Fibra, S.L.&lt;br/&gt;Operations and exploitation of FTTH network and other connectivity services.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 Soluciones de Instalacion y Mantenimiento S.L. &lt;br/&gt;Marketing and management in the installation, sale and maintenance of photovoltaic equipment&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;51&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TLH Holdco, S.L.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TIS Hispanoam&#xe9;rica, S.L. &lt;br/&gt;Security services and systems&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Canarias, S.L.U &lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/01/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Bizkaia, S.L.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Solar360 de Repsol y Movistar S.L. &lt;br/&gt;Development and marketing of photovoltaic self-consumption products and/or services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Renting, S.A.&lt;br/&gt;Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Merged companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Surviving company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Compa&#xf1;&#xed;a Independiente de Televisi&#xf3;n, S.L. &lt;br/&gt;Provision of all type of audiovisual telecommunications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica  Audiovisual Digital, S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Divestment companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:58.136%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.129%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.220%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.115%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deconsolidation date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Sold&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bluevia Fibra, S.L.U.&lt;br/&gt;Operations and exploitation of FTTH network and other connectivity services.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles El Salvador, S.A. de C.V.&lt;br/&gt;Provision of wireless and international long distance communications services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;El Salvador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;59.58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VivaE Educa&#xe7;&#xe3;o Digital S.A. &lt;br/&gt;Training for professional and management development&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Opal Jvco Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Liquidated companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.760%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:58.136%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.129%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.220%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.115%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deconsolidation date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Shareholding&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity Tech Argentina S.A. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sao Paulo Telecomunica&#xe7;oes Participa&#xe7;oes Ltda&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Main changes in the scope of consolidation for the year 2021&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Acquisition of new companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of inclusion&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Altostratus Solutions, S.L. &lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Deutschland GmbH &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK &amp;amp; Ireland, Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Holdings Limited &lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK TOG Limited  &lt;br/&gt;Headquarters activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Managed Services Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech UK Limited &lt;br/&gt;Information technology, management and IT services consultancy&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Holdings Limited &lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Communication &amp;amp; Collaboration Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Northern Ireland Limited&lt;br/&gt;Other computer service activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cancom Ireland Limited &lt;br/&gt;Provision of IT services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ireland&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Tech Ocean Limited&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Prosegur Soluciones S.A.U.&lt;br/&gt;Private security services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Daytona Midco S.L.&lt;br/&gt;Securities transactions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;05/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13.94&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Incorporation of companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.415%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.628%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date of incorporation&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Acquisition&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Hispam&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;br/&gt;Investment in money and/or securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Global Solutions Germany GmbH. &lt;br/&gt;International service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Movistar Consumer Finance Colombia SAS. &lt;br/&gt;Specialised credit institution&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Uno, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Buend&#xed;a Estudios Dos, S.L.U.&lt;br/&gt;Service provision related to film and video production activities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;FiBrasil Infraestrutura e Fibra &#xd3;tica S.A.&lt;br/&gt;Fibre wholesale supplier&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VMED O2 UK Limited &lt;br/&gt;Integrated provider of fixed and mobile services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Merged companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.491%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:62.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.021%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.022%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Surviving company&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Govertis Advisory Services Per&#xfa; S.A.C. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech Per&#xfa; S.A.C &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cyberrange S.L. &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity &amp;amp; Cloud Tech SL.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ace &amp;amp; Niu Consulting S.L.&lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Govertis Advisory Services S.L. &lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Innovaci&#xf3;n Alpha, S.L. &lt;br/&gt;Electronic communications and  audiovisual services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telefonica Open Innovation S.L.&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%"&gt;Divestment companies&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:55.625%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.695%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.443%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.837%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies/Segment/Subsidiaries&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Country&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Deconsolidation date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Sold&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inmosites, S.A.U.&lt;br/&gt;Purchase and leasing of real estate related to the telecommunications infrastructure business&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Latam, S.L.U.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Espa&#xf1;a, S.L.U.&lt;br/&gt;Establishment and operation of any kind of communications infrastructure and/or network&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Towers Germany, Gmbh.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Per&#xfa; S.A.C.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Chile Holding, S.A.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Chile, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Brasil, Ltda.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Inmosites Brasil Participa&#xe7;oes Imobiliarias Ltda &lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Brazil&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telxius Torres Argentina, S.A.&lt;br/&gt;Telecommunications service provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica de Costa Rica TC, S.A.&lt;br/&gt;Wireless communications&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Costa Rica&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Companies accounted for using the equity method&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;HoldCo InfraCo SpA &lt;br/&gt;Investment in money and/or securities&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Joint ventures&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Holdings Ltd&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica United Kingdom Ltd.&lt;br/&gt;Wireless communications&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Giffgaff Ltd&lt;br/&gt;Wireless communications services provider&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;O2 Networks Ltd.&lt;br/&gt;Holding company&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Cornerstone Telecomunications &lt;br/&gt;Network sharing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tesco Mobile Ltd.&lt;br/&gt;Wireless telephony services&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Telef&#xf3;nica Cybersecurity Tech UK Limited  &lt;br/&gt;Cybersecurity, electronic information security and IT consulting&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;United Kingdom&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/30/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory>
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style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:25.508%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.818%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.987%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.765%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.426%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.260%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Salary&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed remunera-tion&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;Allowances&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term variable remuneration&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;4&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Remuneration for belonging to the Board Committees&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other items&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;6&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;br/&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,923,100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,198,897&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,085&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,128,082&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Isidro Fain&#xe9; Casas&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;280,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a Abril P&#xe9;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;91,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Javier Echenique Landir&#xed;bar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;337,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,600,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,911,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24,514&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,535,714&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Juan Ignacio Cirac Sasturain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;183,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter Erskine&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;252,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Carmen Garc&#xed;a de Andr&#xe9;s&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;185,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Luisa Garc&#xed;a Blanco&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;44,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;196,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter L&#xf6;scher&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;23,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;113,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;256,600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Ver&#xf3;nica Pascual Bo&#xe9; &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;138,200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Javier de Paz Mancho&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;277,800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Jos&#xe9; Riberas Mera&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Rotondo Urcola&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Claudia Sender Ram&#xed;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;120,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;22,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;160,400&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Salary: Regarding Mr Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez and Mr &#xc1;ngel Vil&#xe1; Boix, the amount includes the non-variable remuneration earned from their executive functions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Fixed remuneration: Amount of the compensation in cash, with a pre-established payment periodicity, whether or not it can be consolidated over time, earned by the member for his/her position on the Board, regardless of the effective attendance of the member to board meetings.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;3&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Allowances: Total amount of allowances for attending Advisory or Steering Committee meetings.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;4&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Short-term variable 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 2022 and to be paid in the year 2023. In reference to the bonus corresponding to 2021, which was paid in 2022, Executive Board Member Mr Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez received 3,807,738 euros and Executive Board Member Mr &#xc1;ngel Vil&#xe1; Boix received 2,640,000 euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;5&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Remuneration for belonging to the Board Committees: Amount of items other than allowances, which the directors are beneficiaries through their position on the Executive Commission and the Advisory or Steering Committees, regardless of the effective attendance of the board member such Committee meetings. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;6&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Other concepts: This includes, among others, the amounts received as remuneration in kind (general medical and dental coverage and vehicle insurance), paid by Telef&#xf3;nica, S.A.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following table breaks down the amounts accrued and/or received from other companies of the Telef&#xf3;nica Group other than Telef&#xf3;nica, 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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;OTHER COMPANIES OF THE TELEF&#xd3;NICA GROUP&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;(Amounts in euros) &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.929%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.105%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.290%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.100%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.608%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.418%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.379%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.497%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.803%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Salary&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed remunera-tion&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Allowances&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Short-term variable remuneration&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;4&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Remuneration for belonging to the Board Committees&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;5&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other items&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;6&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Isidro Fain&#xe9; Casas&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a Abril P&#xe9;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Javier Echenique Landir&#xed;bar&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;177,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Juan Ignacio Cirac Sasturain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;90,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter Erskine&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:0 1pt"&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;80,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms Carmen Garc&#xed;a de Andr&#xe9;s&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Luisa Garc&#xed;a Blanco&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Peter L&#xf6;scher&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Ver&#xf3;nica Pascual Bo&#xe9;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60,457&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Javier de Paz Mancho&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;170,727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;155,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;325,727&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mr. Francisco Jos&#xe9; Riberas Mera&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Mar&#xed;a Rotondo Urcola&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ms. Claudia Sender Ram&#xed;rez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127,957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127,957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:0.5pt solid #929292;border-top:0.5pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;1.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Salary: Amount of non-variable remuneration earned by the Director from other companies of the Telef&#xf3;nica Group for his/her executive functions.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;2.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; 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 Telef&#xf3;nica Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;3.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Allowances: Total amount of the allowances for attending the board meetings of other companies of the Telef&#xf3;nica Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;4.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; 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 2022 and to be paid in the year 2023 by other companies of the Telef&#xf3;nica Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;5.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Remuneration for belonging to the Board Committees of other companies of the Telef&#xf3;nica 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 Telef&#xf3;nica Group, regardless of the effective attendance of the board member such Committee meetings.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;6.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"&gt; 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 Telef&#xf3;nica Group. Also included are the amounts received for membership of the Advisory Boards of Telef&#xf3;nica Espa&#xf1;a, Telef&#xf3;nica Hispanoam&#xe9;rica, Telef&#xf3;nica Tech and Telef&#xf3;nica Ingenier&#xed;a de Seguridad. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Additionally, as mentioned in the Remuneration Policy section, the Executive Board Members have a series of Assistance Services. Below, the contributions made during 2022 are detailed for the Company to long-term savings systems (Pension Plans and Social Welfare Plan): &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;LONG-TERM SAVINGS SYSTEMS &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;(Amounts in euros)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:54.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.264%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Contributions for fiscal year 2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;673,085&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;560,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;(Amounts in euros) &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:38.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.298%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.082%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Contribution to Pension Plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Contribution to Executive Social Welfare Plan&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Contributions to Unit link-type Insurance/Pension Plan Surplus&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;7,574&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;540,968&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;124,543&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6,721&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;487,840&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;65,439&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;1.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; 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 Telef&#xf3;nica Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;2.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Contributions to Unit link-type Insurance/Pension Plan Surplus: In 2015 and 2021, 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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;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 &#x201c;Pension Plan&#x201d; and the same exceptional liquidity events in case of serious illness or long-term unemployment. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The 2022 amounts for life insurance premiums were as follows: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;LIFE INSURANCE PREMIUMS &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;(Amounts in euros) &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:54.536%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:43.264%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Life insurance premiums&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;74,699&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;58,820&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;REMUNERATION PLANS BASED ON SHARES&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As regards to remuneration plans based on shares (involving Executive Directors), the following long-term variable remuneration plans were in existence during the year 2022:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The so-called &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Performance Share Plan ("PSP"), made up of three cycles (2018-2021; 2019-2022; 2020-2023), &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;approved by the General Shareholders' Meeting held on June 8, 2018. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The maximum number of Telef&#xf3;nica shares to be delivered depends (i) 50% of the compliance with the targets set out for Total Shareholder Return ("TSR") on Telef&#xf3;nica, S.A. shares with respect to the TSRs of a comparison group of companies in the telecommunications sector weighted according to their relevance to Telef&#xf3;nica, and (ii) 50%, of the Free Cash Flow (the "FCF") of the Telef&#xf3;nica Group.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;The target measurement period for the First Cycle started on January 1, 2018 and ended on December 31, 2020, resulting in a weighted payout ratio of 50%. Notwithstanding the foregoing, the Executive Chairman stated to the Nominating, Compensation and Corporate Governance Committee, at its meeting of February 23, 2021, that he considered it appropriate to propose his waiver of the incentive, as a gesture of responsibility towards the company, customers, shareholders and employees of Telef&#xf3;nica, as well as a measure of prudence following the economic effects derived from COVID-19. The CEO expressed the same view. The resignation was accepted by the Board of Directors. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The target measurement period for the Second Cycle started on January 1, 2019 and ended on December 31, 2021, resulting in a weighted payout ratio of 50%. The evaluation of the degree of compliance was carried out on the basis of the evolution of the share price, as well as the audited results of the Company. Thus, at the end of the Plan's Second Cycle, Executive Directors received 234,000 gross shares in the case of the Executive Chairman, Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez, and 173,500 gross shares in the case of the Chief Operating Officer (C.O.O.) Mr. &#xc1;ngel Vil&#xe1; Boix.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The target measurement period of the Third and last Cycle started on January 1, 2020 and ended on December 31, 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;This Cycle had a maximum of 465,000  shares allocated on January 1, 2020, to the executive Directors, with a unit fair value of 3.2136 euros per share for FCF ("Free Cash Flow") and 1.6444 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 Total Shareholder Return for Telef&#xf3;nica, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;With respect to Free Cash Flow objective, considering the partial fulfillment of 2020, 2021 and 2022, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;Thus, at the end of the Plan's Third and last Cycle, Executive Directors are entitled to receive 133,500 gross shares in the case of the Executive Chairman, Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez, and 99,000 gross shares in the case of the Chief Operating Officer (C.O.O.) Mr &#xc1;ngel Vil&#xe1; Boix. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the denominated &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Performance Share Plan (PSP), consisting of three cycles (2021-2024; 2022- 2025; 2023-2026),&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; approved by the Ordinary General Meeting of Shareholders held on April 23, 2021, was also in force during the financial year 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;There were two Cycles of the Plan in force during the 2022 financial year. The First Cycle, which started on January 1, 2021 and will end on December 31, 2023. If targets are met, the shares will be delivered in 2024. And the Second Cycle, which started on January 1, 2022 and will end on December 31, 2024. If targets are met, the shares will be delivered in 2025.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In both Cycles, the number of Telef&#xf3;nica, S.A. shares that, within the established maximum, could be delivered, as the case may be, to the Participants, is conditioned and is determined based on the compliance of the established targets: 50% of the compliance of the Total Shareholder Return objective (the TSR) of the Telef&#xf3;nica, S.A. share, 40% of the generation of Free Cash Flow of the Telef&#xf3;nica Group (the FCF), and 10% of the Neutralization of CO2 Emissions.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;To determine compliance with the TSR target and calculate the specific number of shares to be delivered for this concept, the performance of the TSR on Telef&#xf3;nica, S.A.'s shares will be measured during the measurement period of each three-year cycle, in relation to the TSRs experienced by certain companies in the telecommunications sector, weighted according to their relevance to Telef&#xf3;nica, S.A., which for purposes of the Plan will constitute a comparison group (hereinafter the "Comparison Group"). The companies included in the Comparison Group are listed below: Am&#xe9;rica M&#xf3;vil, BT Group, Deutsche Telekom, Orange, Telecom Italia, Vodafone Group, Proximus, Koninklijke KPN, Millicom, Swisscom, Telenor, TeliaSonera, TIM Brasil, and Liberty Global.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;With regard to complying with the TSR objective, the Plan will foresee that the number of shares to be delivered associated with meeting this objective will range from 15% of the number of theoretical shares assigned, assuming that the TSR performance of Telef&#xf3;nica, S.A. shares is at least the median of the comparison group, to 50% if the performance is in the third quartile or above in the Comparison Group, with the percentage calculated by linear interpolation for cases falling between the median and third quartile.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In order to determine the compliance with the FCF objective and calculate the specific number of shares to be delivered for this concept, the FCF level generated by the Telef&#xf3;nica Group during each year will be measured and compared to the value set in the budgets approved by the Board of Directors for each financial year.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;With regard to the FCF, for each of the two cycles in force during the fiscal year 2022, the Board of Directors, at the proposal of the Appointments, Remunerations and Corporate Governance Committee, determined a scale of achievement that includes a minimum threshold of 90% compliance, below which no incentive is paid and compliance with which will entail the delivery of 20% of the theoretical shares assigned, and a maximum level of 100% compliance, which will entail the delivery of 40% of the theoretical shares assigned.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;To determine compliance with the CO2 Emissions Neutralization target and calculate the specific number of shares to be delivered for this item, the level of CO2 emissions neutralization achieved at the end of the cycle will be measured, with the incentive being paid upon reaching a certain level of scope 1 + 2 emissions reduction. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The level of direct and indirect CO2 emissions from our daily activity shall be calculated according to the following:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;CO2 Emission = Activity x Emission Factor, where:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;-  Activity: Amount of energy, fuel, gas, etc. consumed by the Company.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;-  Emission Factor: Amount of CO2 emitted to the atmosphere by the consumption of each unit of activity.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The emission factor provided by official sources (European Union, Ministries, CNMC, etc.) is used for electricity and the GHG Protocol emission factors are used for fuels.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;At the beginning of both cycles, the Board of Directors, at the proposal of the Appointments, Remunerations and Corporate Governance Committee, determined a scale of achievement that includes a minimum threshold of 90% compliance, below which no incentive is paid and compliance with which will entail the delivery of 5% of the theoretical shares assigned, and a maximum level of 100% compliance, which will entail the delivery of 10% of the theoretical shares assigned. In addition, a minimum level of emission reductions of Scope 1 + 2&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; will need to be achieved for the incentive to be paid.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In any case, 100% of the shares delivered under the Plan to the Executive Directors and other Participants as determined by the Board of Directors shall be subject to a two-year holding period.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, in accordance with the provisions of the Remuneration Policy for Directors of Telef&#xf3;nica, SA, the Executive Directors must maintain (directly or indirectly) a number of shares (including those delivered as remuneration) equivalent to two years of their Gross Fixed Remuneration, as long as they continue to belong to the Board of Directors and perform executive functions. Until such time as this requirement is met, the holding period for any shares delivered under the Plan to Executive Directors will be three years.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The maximum number of allocated shares to be delivered in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the First and Second Cycle of the Plan is shown below.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;PSP - First Cycle / 2021-2024 &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:52.045%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.755%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Maximum number of shares &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1,094,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;819,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"&gt; Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions  target. &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In any case, it is noted that no shares have been delivered to Executive Directors under the first cycle of the PSP and that the above table only reflects the number of potentially deliverable shares, without in any way implying that all or part of the shares will actually be delivered.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;PSP - Second Cycle / 2022-2025 &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:52.045%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.755%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Maximum number of shares &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;995,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;745,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"&gt; Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions target.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;In any case, it is noted that no shares have been delivered to Executive Directors under the second cycle of the PSP and that the above table only reflects the number of potentially deliverable shares, without in any way implying that all or part of the shares will actually be delivered.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, Telef&#xf3;nica, S.A. General Meeting of Shareholders held on April 8, 2022, approved a new Global Telef&#xf3;nica, S.A. Incentive Share Purchase Plan for Telef&#xf3;nica Group Employees, in which the Executive Directors participate as a token of their commitment to the Company and in order to encourage other employees to participate in the Global Plan. The Plan will end in March 2024, and the maximum amount that each employee can allocate to it is 1,800 euros.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, it should be noted that the external directors of the company do not perceive nor have perceived remuneration during the year 2022 in concept of pensions or life insurance, nor do they participate in compensation plans referenced to the value of the share price.   &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Furthermore, the company does not grant nor has granted during the year 2022, 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 Telef&#xf3;nica as a listed company in this market.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:8pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%"&gt;Remuneration of the Company&#x2019;s Senior Management &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As for the Directors who made up the Senior Management&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; of the company in the year 2022, excluding those who form an integral part of the Board of Directors, have accrued a total amount o&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;f 9,381,900&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; euros during the 2022 fiscal year. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, and in terms of long-term savings systems, the contributions made by the Telef&#xf3;nica Group during the year 2022 to the Social Security Plan described in the "Income and expenditure" note with regard to these directors increased to 943,754 euros; the contributions corresponding to the Pension Plan increased to 214,600 euros; the contributions to the Seguro Unit link-Excess Pension Fund increased to 112,712 euros.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 185,657 euros. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, regarding share-based remuneration plans, during the year 2022, there were in force the following long-term variable remuneration plans:   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The so-called &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:107%"&gt;"Performance Share Plan" ("PSP"), made up of three cycles (2018-2021; 2019-2022; 2020-2023)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;, approved by the General Shareholders' Meeting held on June 8, 2018. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The target measurement period of the First Cycle started on January 1, 2018 and ended on December 31, 2020, resulting in a weighted payment coefficient of 50%.Consequently, the number of shares corresponding to the First Cycle (2018-2021) of the Performance Share Plan that were delivered in the 2021 financial year to the Company's Senior Executives amounted to 220,085 gross shares. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:107%"&gt;The target measurement period of the Second Cycle started on January 1, 2019 and ended on December 31, 2021, resulting in a weighted payment coefficient of 50%. Consequently, the number of shares corresponding to the Second Cycle (2019-2022) of the Performance Share Plan that were delivered in the 2022 financial year to the Company's Senior Executives amounted to 256,246 gross shares.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;The target measurement period of the Third and last Cycle started on January 1, 2020 and ended on December 31, 2022. This cycle had a maximum of 316,762 shares allocated on January 1, 2020 to the group of directors forming part of the Company's Senior Management, with a unit fair value of 3.2136 euros per share for FCF and 1.6444 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 Telef&#xf3;nica, 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;With respect to Free Cash Flow objective, considering the partial fulfillment of 2020, 2021 and 2022, 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.  &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Thus, at the end of the Third Cycle (2020-2023) of the Performance Share Plan, the Company's Senior Executives are entitled to receive 158,381 gross shares.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt;On the other hand, the &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%"&gt;Performance Share Plan (PSP), consisting of three cycles (2021-2024; 2022-2025; 2023- 2026),&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"&gt; approved by the Ordinary General Meeting of Shareholders held on April 23, 2021, was also in force during the financial year 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The target measurement period of the First Cycle started on January 1, 2021 and will end on December 31, 2023. The maximum number of shares allocated to be delivered in 2023 in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the First Cycle (2021-2024) for all the Company's Senior Executives was 1,333,081.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The target measurement period of the Second Cycle started on January 1, 2022 and will end on December 31, 2024. The maximum number of shares allocated to be delivered in 2025 in the event of maximum compliance with the TSR (Total Shareholder Return), FCF (Free Cash Flow) and CO2 Emission Neutralization targets set for the Second Cycle (2022-2025) for all the Company's Senior Executives was 1,241,015.&lt;/span&gt;&lt;/div&gt;On the other hand, Telef&#xf3;nica, S.A. 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Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;673,085&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;560,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;(Amounts in euros) &lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:38.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.298%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:23.350%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.082%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Contribution to Pension Plans&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Contribution to Executive Social Welfare Plan&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Contributions to Unit link-type Insurance/Pension Plan Surplus&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;7,574&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;540,968&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;124,543&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;6,721&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;487,840&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;65,439&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;1.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; 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 Telef&#xf3;nica Group. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;2.&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; Contributions to Unit link-type Insurance/Pension Plan Surplus: In 2015 and 2021, 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.  &lt;/span&gt;&lt;/div&gt;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 &#x201c;Pension Plan&#x201d; 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Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;1,094,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;819,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"&gt; Maximum possible number of shares to be received in case of maximum completion of TSR, FCF and Neutralization of CO2 Emissions  target. &lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.397%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:52.045%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:45.755%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Directors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;div style="text-align:center"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Maximum number of shares &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:700;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. Jos&#xe9; Mar&#xed;a &#xc1;lvarez-Pallete L&#xf3;pez&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;995,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;Mr. &#xc1;ngel Vil&#xe1; Boix &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;745,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"&gt; 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90ZXh0cmVnaW9uOjc0YmMyNzVjNmMxYTRkMzY4Mjc4MWE5ZTk4OTE5ZWE0XzI0Nw_b5c4442c-02d6-4f5d-8c4a-a80850c726bd">&lt;div style="margin-top:9pt;text-align:center"&gt;&lt;span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%"&gt;Appendix III: Debentures and bonds&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail and key features of outstanding debentures and bonds at December 31, 2022 are as follows (in millions of euros):&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.249%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.753%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.994%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.288%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total Telef&#xf3;nica and its instrumental companies&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity (nominal)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;T. EUROPE BV SEP_00 BOND GLOBAL D&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,148&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TEBV FEB_03 EMTN FIXED TRANCHE B&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.875&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Europe, B.V.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,648&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,648&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY 2013&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.987&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,277&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES FEBRUARY 2019 (1)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.069&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.528&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES SEPTEMBER 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.495&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;892&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;892&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN O2 GBP &lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,279&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.103&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,405&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MAY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JANUARY  2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES SEPTEMBER 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.715&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,250&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.318&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;200&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.788&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN GBP 10/08/2029 400 GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.445&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.855%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:34.894%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.753%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.349%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.286%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.288%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="30" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Total Telef&#xf3;nica and its instrumental companies (cont.)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity (nominal)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES OCTOBER 2014&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.932&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES FEBRUARY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.664&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MAY 2022 (2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.592&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES OCTOBER 2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.930&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MAY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.807&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JUNE 06 TRANCHE D&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.045&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.665&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JULY 2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.957&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES JULY 2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES APRIL 2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.895&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES MARCH 2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.520&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,171&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TELEF. EMISIONES DECEMBER 2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Emisiones, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,000&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,019&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,843&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,655&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16,399&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26,193&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Telef&#xf3;nica, S.A. and its instrumental companies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,277&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,000&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,019&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,843&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,655&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18,047&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27,841&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #969696;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"/&gt;&lt;/tr&gt;&lt;tr style="height:21pt"&gt;&lt;td colspan="30" style="border-top:2pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="margin-top:9pt"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.204%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.450%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.928%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.276%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.755%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.283%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="border-bottom:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;Foreign operators&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="18" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Debentures and bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;% Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond F&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond O&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond Q&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond 144 A&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.537&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;468&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;115&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;77&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;468&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;759&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (19th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.6250%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (19th Serie B)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 2.8750%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (37th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.1250%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 4th Program (19th Serie C)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.1875%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (17th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;VAC + 3.0938%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (11th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.656&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (11th Serie B)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.188&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (15th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;33&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 6th Program (16th Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 1st Private Program (1st Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.281&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond T. Peru 1st Program International Issue (1sr Serie A)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;N. SOL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.375&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;417&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica del&#160;Per&#xfa;, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;62&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;165&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;164&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;65&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;679&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CDI + 1.12%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CDI + 1.35%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf4;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;269&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;359&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;628&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BOND R144-A&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.950&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;469&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond A5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.650&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond C10&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;IPC + 3.39%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones, S.A, ESP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;68&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;499&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;567&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bond&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;O2 Telef&#xf3;nica Deutschland Finanzierungs, GmbH&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;600&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;600&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Outstanding Debentures and Bonds Foreign operators&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;200&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;130&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,111&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;258&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;523&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,032&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,254&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total Outstanding Debentures and Bonds&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,477&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,130&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,130&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,101&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,178&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19,079&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31,095&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Debentures and green bonds (See Note 29.d)&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Debentures and sustainable bonds (See Note 29.d)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main debentures and bonds issued by the Group in 2022 are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:27.595%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.479%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.769%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.769%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.479%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.769%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:16.440%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Nominal (millions)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Item&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency of issuance&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-left:1pt solid #ffffff;border-right:1pt solid #ffffff;border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Coupon&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Emisiones, S.A.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN Bond&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/05/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/13/2040&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.864&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EMTN Bond &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;05/25/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;05/25/2031&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.592&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/14/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/12/2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,000&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;359&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.35% CDI&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Debentures &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/14/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/12/2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;269&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.12% CDI&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt; Debentures and sustainable bonds (See Note 29. d)&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:center"&gt;&lt;span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%"&gt;Appendix V: Interest-bearing debt&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main financing transactions at December 31, 2022 and 2021 and their nominal amounts are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:30.131%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:12.389%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.017%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.603%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:10.630%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.660%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-bottom:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Outstanding principal balance&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(millions of euros)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #acacac;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Descriptive name summary&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Current limit (millions)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12/31/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Arrangement date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity date&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica, S.A&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;02/22/2013&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/31/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;08/01/2013&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10/31/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;238&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;223&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;288&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/11/2015&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/11/2026&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Structured Financing (*)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;161&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;161&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;221&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/11/2015&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/11/2026&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainable syndicated (1)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/15/2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/13/2027&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/26/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/15/2032&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/23/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/23/2033&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;T. Brasil, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;199&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/04/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/28/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica Germany GmbH &amp;amp; Co. OHG&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EIB Financing&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;183&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;258&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/13/2016&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/13/2025&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sustainable syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;750&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/17/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/17/2026&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EIB Financing (Tranche 1)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/18/2019&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;06/18/2029&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EIB Financing (Tranche 2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;150&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/14/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/14/2029&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia Telecomunicaciones, S.A. E.S.P.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan (2)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;117&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/24/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;01/26/2022&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bilateral loan&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;111&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;07/06/2021&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;03/19/2025&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telxius Telecom, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;300&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;201&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2017&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/01/2024&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bluevia Fibra S.L.U.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Syndicated&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;360&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11/16/2022&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12/20/2027&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #acacac;border-top:1pt solid #acacac;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Telef&#xf3;nica M&#xf3;viles Chile, S.A.&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #969696;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid 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0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;133&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;124&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;04/17/2020&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #969696;border-top:1pt solid #969696;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;09/29/2023&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;On January 13, 2022 there was maturity extension of the sustainability-linked syndicated loan facility for 5,500 million euros. 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzYtNC0xLTEtNzU4MjYy_9102adb0-b9a4-424e-bc11-75920bfb9230"
      unitRef="eur">359000000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:BorrowingsInterestRate
      contextRef="ifa2d383b7c8349718d8b329438ad2bf4_I20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzYtNi0xLTEtNzU4MjYy_0e9fe1b7-a85c-4d59-8555-a3a8e699ad82"
      unitRef="number">0.0135</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="ibc6fe384fc8c4f9c84ca7657e3004932_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzQtMy0xLTEtNTEwNDQy_03751cbd-4592-4aa3-bafd-329a24dc4837"
      unitRef="brl">1500000000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:NotesAndDebenturesIssued
      contextRef="ibc6fe384fc8c4f9c84ca7657e3004932_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzQtNC0xLTEtNTEwNDQy_587f81c8-23c8-4eb4-84ef-68d6259515be"
      unitRef="eur">269000000</ifrs-full:NotesAndDebenturesIssued>
    <ifrs-full:BorrowingsInterestRate
      contextRef="i0e4401cf63ab448ba9b040c1c795b34d_I20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zNzYvZnJhZzo3NGJjMjc1YzZjMWE0ZDM2ODI3ODFhOWU5ODkxOWVhNC90YWJsZTphZWUyZmIwMmRlMDM0MTIzYmZjZDYxYWU0NWRjNGUxYS90YWJsZXJhbmdlOmFlZTJmYjAyZGUwMzQxMjNiZmNkNjFhZTQ1ZGM0ZTFhXzQtNi0xLTEtNTEwNDQy_887bc944-0dc7-4833-b894-68ffeeb05a19"
      unitRef="number">0.0112</ifrs-full:BorrowingsInterestRate>
    <ifrs-full:DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyOTI_7347f823-2b5d-411a-8978-b3aa74672a1a">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The detail of the net financial debt arranged by the Group (notional amount) by currency and interest rates at December 31, 2022 is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:14.689%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.648%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.087%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.648%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.841%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.648%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.256%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.402%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.338%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Underlying debt &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Euro&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(8,499)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,066&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,500&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,707&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4,020&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17,344&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,138&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,461&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8,254&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20,715&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,933&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,770&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;206&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5,095&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,955&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,079&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,129&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;13,208&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.04&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.73&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.56&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.05&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10,432)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,028&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,587&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,937&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,814&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,249&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,183&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,382&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,875)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,507&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Other european currencies&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in CZK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(87)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(86)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;610&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;598&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;922&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(325)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;597&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;610&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;598&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;922&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(324)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;598&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.49&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in CHF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;America&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(982)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;49&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,878)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,874&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(937)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13,038&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13,937)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(899)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;141&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,874)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,874&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;134&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;329&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(154)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;175&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.47&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.49&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(975)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(92)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,071)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,709&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(13,783)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,074)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;97&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;111&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;119&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;115&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(15)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;97&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;111&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.737%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.952%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.659%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.513%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.367%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.927%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.002%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.513%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.270%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.002%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.958%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Underlying debt&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in ARS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(222)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(222)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(226)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(232)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;61.15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60.06&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,125&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;796&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;367&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,412&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;868&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,610&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3,478&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(220)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;17&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;796&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,067&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;827&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;271&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,098&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.57&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,345&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;41&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,339&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,380&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;428&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;116&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;184&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;99&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;460&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,287&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(234)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,523&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1,289&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;460&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;441&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(21)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;476&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;455&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(0.52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;447&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;116&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;184&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;99&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;846&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,047&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;834&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.04&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;115&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(106)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;115&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(106)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;294&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;63&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;165&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;159&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;139&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;820&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;474&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;349&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;823&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;278&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;165&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;804&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;458&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;349&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;807&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.81&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.08&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.38&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.53&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in VAC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;64&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;89&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;89&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;89&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;64&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.05&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;131&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;219&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;459&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;806&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;339&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;483&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;822&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(248)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;429&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;263&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;335&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(62)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;273&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2.01&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(22)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;68&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;467&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;543&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;545&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;549&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7.35&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.09&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.72&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in VEB&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:18.951%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.541%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.902%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:3.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.008%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.712%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.051%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.584%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.456%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.519%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:11.677%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="9" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Notional&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Underlying debt&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(*)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Associated derivatives&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Instruments in MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;163&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;87&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(240)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;227&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.84&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;139&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(246)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(255)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;227&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Interest rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10.66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9.70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8.80&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6.88&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rate cap&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25,994&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27,699&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,012)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26,687&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10,989&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2,784&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12,553&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,337&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15,005&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24,915&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(13,565)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11,350&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(*) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"&gt;Includes all net financial debt adjustments&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The table below 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, 2022:&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.812%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.310%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate swaps&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Non trading accountant purposes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;482&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;595&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,974)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,778)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,195)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,215)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(325)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,632)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11,119)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7,894)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.07&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.86&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.31&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,974&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,778&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,195&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,215&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;325&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,632&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11,119&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,489&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.29&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.45&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(113)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(715)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(470)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(50)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(477)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(245)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,187)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,144)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,148)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;715&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;470&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;477&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;245&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,187&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,144&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,035&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.26&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.65&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.71&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.22&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.75&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.46&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(319)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(159)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(478)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(161)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.74&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.55&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.34&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;319&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;478&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;162&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(20)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(703)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(159)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(862)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(869)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;703&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;159&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;862&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;849&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.52&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.66&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.812%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.310%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Interest rate swaps&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trading accountant purposes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,292)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;175&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,500)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(125)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(100)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,925)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,650)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,476)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.18&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.89&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,500&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;125&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,925&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,650&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,651&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(1,467)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(354)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,604)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,608)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,566)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8,291)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.02&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;354&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,604&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,608&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;8,566&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;6,824&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.44&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.88&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.23&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.13&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;756&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;756&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(822)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(83)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(423)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,757)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,590)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9,532)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19,207)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11,396)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.85&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.36&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.63&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.62&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;822&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;423&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,757&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,590&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;9,532&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;19,207&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12,152&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.03&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2.78&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.92&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.79&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(451)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(451)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(434)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.42&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;450&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:28.812%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.964%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.430%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.310%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.671%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.848%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="21" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Maturity&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Trading accountant purposes&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fair value&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4.90&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.27&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(127)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(130)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;127&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;121&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.54&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(106)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Fixed to floating&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(58)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(58)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(50)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Interest Rate&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5.77&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;58&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.07&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1.07&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Floating to fixed&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(116)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receiving leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(467)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(30)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(497)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(507)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Average Spread&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.39&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;0.20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paying leg&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;467&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 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0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.19&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid 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style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.48&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;%&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span 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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzM5LTctMS0xLTUxMDQ0Mg_c2888ba0-ddd5-413c-a442-18149480967d"
      unitRef="eur">497000000</ifrs-full:DerivativeFinancialAssetsHeldForHedging>
    <ifrs-full:DerivativeFinancialAssetsHeldForHedging
      contextRef="ic5b12b6b69614ff8a16695bf09f795a2_I20221231"
      decimals="-6"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzM5LTgtMS0xLTUxMDQ0Mg_90225fcb-273f-4598-8c5c-272a94f58cfb"
      unitRef="eur">391000000</ifrs-full:DerivativeFinancialAssetsHeldForHedging>
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      unitRef="number">0</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTItMS0xLTUxMDQ0Mg_7466e75c-422a-4ec0-9a29-59ddfc66bb49"
      unitRef="number">0</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
    <tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate
      contextRef="id3b99cec0ac14adeb28a689a0f990378_I20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTMtMS0xLTUxMDQ0Mg_df6c8628-516d-4047-872c-f72a2d76ac36"
      unitRef="number">0.0319</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
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      unitRef="number">0</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
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      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTUtMS0xLTUxMDQ0Mg_e8218bc1-720f-45ee-9c56-4c3b965ae8e0"
      unitRef="number">0</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
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      contextRef="if0dabd6f74db4ce6a156471419175782_I20221231"
      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTYtMS0xLTUxMDQ0Mg_52f938f1-7d36-494b-ab72-c57d5710cb7e"
      unitRef="number">0.0809</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
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      contextRef="ie54d7c3e3bb746ac886068937420c137_I20221231"
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTctMS0xLTUxMDQ0Mg_e8014bf1-3ff0-48cd-a2be-51e10d7002f4"
      unitRef="number">0.0348</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
    <tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90YWJsZTo0NzE0MGIwOTFlMzU0ZGNjYjBiY2RiN2I4YjJmY2NhZC90YWJsZXJhbmdlOjQ3MTQwYjA5MWUzNTRkY2NiMGJjZGI3YjhiMmZjY2FkXzQwLTgtMS0xLTUxMDQ0Mg_8a19d9cd-ed6a-42dc-ab3b-35100c40c4c1"
      unitRef="number">0</tef:SensitivityAnalysisAverageBasisSpreadOnVariableRate>
    <ifrs-full:MaturityAnalysisForDerivativeFinancialLiabilities
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODIvZnJhZzo1OWI4OTg5ODk5N2Y0YTAwOWFmN2NkMDE0YWIyYzA4MS90ZXh0cmVnaW9uOjU5Yjg5ODk4OTk3ZjRhMDA5YWY3Y2QwMTRhYjJjMDgxXzEyOTM_bb9a6edf-5818-445d-bbc2-90459261cca9">&lt;div&gt;&lt;span style="color:#ffffff;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; rte options, by maturity, are as follows:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.599%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.588%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.880%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.885%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr style="height:12pt"&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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:&lt;/span&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.494%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.640%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.684%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.659%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.836%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Currency swaps&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(282)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(282)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;76&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(335)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(460)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(795)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;367&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(367)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(734)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,536&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2,542&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,078&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(673)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(80)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(46)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,352)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3,966)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6,907)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(14,024)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;564&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;451&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,015&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;JPY&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;107&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;JPY&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;231&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UFC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(115)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,297&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;83&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;517&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,883&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3,934&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;7,659&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15,373&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,665)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(468)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,529)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4,662)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;100&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;95&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;483&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;665&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;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 (0.83), EUR/USD (1.13) and USD/COP (3,742.44).&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.494%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:17.640%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.684%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.659%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.416%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.538%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.295%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.836%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Millions of euros&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Subsequent years&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Total&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="6" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Forwards&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;213&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BRL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,587)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2,587)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CLP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(740)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(28)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(768)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;114&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;COP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(213)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CZK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;87&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CZK&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,583&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;4,583&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;EUR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(890)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(890)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;24&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GBP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(796)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(796)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MXN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(217)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(19)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(236)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;32&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PEN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(384)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(384)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;td colspan="3" style="display:none"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,919&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;43&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1,962&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;USD&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1,165)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Receive&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;21&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-left:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;UYU&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#x2014;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-top:1pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(18)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-right:1pt solid #cbcbcb;border-top:1pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-left:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;TOTAL&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#x2014;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="2" style="border-bottom:2pt solid #bfbfbf;border-top:2pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:2pt solid #bfbfbf;border-right:1pt solid #cbcbcb;border-top:2pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"&gt;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 (0.87), EUR/USD (1.03), USD/COP (4,660.76) and EUR/BRL (5.58).&lt;/span&gt;&lt;/div&gt;</ifrs-full:MaturityAnalysisForDerivativeFinancialLiabilities>
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      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0OTg5_8cce2551-7ae9-4624-ac8c-434d42db1bbe">&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#a6a6a6;font-family:'Arial',sans-serif;font-size:18pt;font-weight:400;line-height:120%"&gt;Appendix VI: Key regulatory issues and concessions and licenses held by the Telef&#xf3;nica Group &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Regulations &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As a digital telecommunications operator, the Telef&#xf3;nica 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&#x2019;s business areas. The extent to which telecommunications regulations apply to the Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In order to provide services and operate its networks and to use spectrum, the Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Electronic Communication Regulation in the European Union &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 it into their national legislation.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 at least 20 years.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Due to a delay in the transposition of the EECC, the European Commission announced the second stage of infringements proceedings, in the form of a reasoned opinion, against 18 member states, including Spain, on  September 21, 2021. On June 28, 2022, the new General Telecommunications Law  11/2022 was finally published in the BOE by which the EECC is transposed into Spanish law. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Relevant Market Recommendation (RMR) adopted in December 2020, identifies the relevant markets within the electronic communication sector that are susceptible of ex ante regulation by the NRAs. The NRAs should assess the competitive conditions of these markets and where appropriate, designate operators as having significant market power (SMP) and impose obligations. The markets susceptible to ex ante regulation were reduced from 4 to 2: wholesale local access provided at a fixed location market (m1) and wholesale dedicated capacity market (m2). Nevertheless, NRAs are still able to analyze any other market that according to national circumstances might deemed to be uncompetitive. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In relation to the maximum cap at European level for both fixed and mobile termination rates (FTRs/MTRs), since the adoption of a Delegated Act, in April 2021 by the EC, the maximum rates applicable are those included in the correspondent glidepaths and aiming to reach 0.2 euro cents per minute in mobile by 2024 and to 0.07 euro cents per minute in the case of fixed rates.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, 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 (at least 20% of funds devoted to digitalization) initiatives which can receive support to advance connectivity and the digitalization of society.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Telecom Single Market   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Roaming&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: 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 (&#x201c;Roaming Like at Home&#x201d;). Wholesale maximum rates for voice, data and SMS were also regulated. While current regulation expires on June 30, 2022, on April 13, 2022, the new Regulation on international roaming in the European Union was published in the Official Journal of the EU and being directly binding for Member States as it entered into force on July 1, 2022. From this date the new regulation includes a new glide path for maximum wholesale rates for voice, data and SMS that are not expected to distort the wholesale market. This reviewed regulation also includes new provisions on transparency and Quality of services that might have a moderate impact on implementation costs for roaming providers and network operators.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10pt"&gt;Net Neutrality&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;: 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 devices 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.  &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Body of European Regulators for Electronic Communications (BEREC) has updated the Guidelines on the Implementation of the Open Internet Regulation. Reviewed guidelines prohibit non application agnostic price differentiation, resulting in near prohibition of zero rating and sponsored data commercial practices. Telefonica does not expect a commercial impact in current portfolio of services.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, by April 30, 2023, the EC shall submit a report assessing the regulatory implementation of the OIR to the European Parliament and to the Council thereon, accompanied, if necessary, by appropriate proposals with a view to amending this Regulation&lt;/span&gt;&lt;span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:11pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Digital Single Market    &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Among the most relevant regulatory initiatives we can find the following:    &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:36pt;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt"&gt;Content Package:   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;On November 28, 2018, the &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;audiovisual Directive (AVMS) &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;was published in the Official Journal of the European Union. The text came into force on December 19, and had to be transposed into national law in the EU member States by September 19, 2020. In Germany, the transposition of the AVMSD was specified in the Interstate Media Treaty, which entered into force on November 7, 2020. The United Kingdom adopted the AVMS Regulation on September 30, 2020, which was applicable until the formalization of the UK&#x2019;s exit from the UE. And in Spain, the Draft General Law on Audiovisual Communication was adopted on November 30, 2021. 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.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.05pt"&gt;The &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Geo-Blocking Regulation &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. This Plan included a proposal for a dialogue between the European Commission and the audiovisual industry to facilitate access to and availability of audiovisual content across EU borders. Three meetings between the Commission and industry took place during 2021 while the last meeting took place in December 2022. Commissioner Breton might ask to engage further with industry to enhance cross-border access to and availability of audiovisual content across the EU.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;European Commission will issue a &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Recommendation on combating online piracy of live content in June 2023&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;. In January the Commission launched a call for data inviting interested parties to submit comments based on their experience and will organize a workshop on February 28, 2023. Telef&#xf3;nica submitted comments to the consultation and will participate in the Workshop, insisting on the need for the European Commission to take specific action in relation to online piracy of live content, building on DSA and Copyright Directive as well as on European Parliament&#x2019;s Resolution of May 2021 on challenges of sports events organizers in the digital environment.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:14.5pt"&gt;Regulations on the Digital Services and the Digital Markets: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Digital Services Act 2022/2065 of October 19, 2022 and the Digital Markets Act 2022/1925 of September 14, 2022 were adopted and published in the Official Journal of the EU.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In relation to the new &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Digital Services &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;regulation, obligations will apply throughout the EU to all digital services that connect consumers to goods, services or content, such as:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Rules on the removal of illegal goods, services or content online.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Safeguards for users whose contents have been removed by error by the platforms.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Obligation for the platforms to adopt measures to avoid the abuse of their systems.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Transparency measures with a wide scope.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;New powers to control the operation of the platforms.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;New rules on the traceability of companies in online markets.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;Cooperation process between authorities to ensure compliance and adoption of measures.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;With respect to the &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Digital Markets&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; regulation, whose main goal is preventing the so called &#x201c;gatekeepers&#x201d; from imposing unfair conditions on end users and at ensuring the openness of important digital services, its main provisions are:&lt;/span&gt;&lt;/div&gt;&lt;div style="padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.3pt"&gt;It will only apply to the main platform providers more prone to incur in unfair practices and ensuring contestability in a set of core platform services.&lt;/span&gt;&lt;/div&gt;&lt;div style="padding-left:36pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;It establishes quantitative thresholds for the designation of "gate keepers".&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;It requires "gate keepers" to take action in a proactive manner.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;padding-left:72pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10pt"&gt;The regulation foresees mechanisms for the Commission to designate new "gate-keepers" below the thresholds; to add new services and obligations; and to impose structural or behavioral remedies for systematic non-compliance through a market investigation.&lt;/span&gt;&lt;/div&gt;&lt;div style="padding-left:72pt;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:112%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:9.32pt"&gt;The EC can impose fines of up to 10% of the company's total worldwide annual turnover or 20% in the event of repeated infringements. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On  July 5, 2022 the text was finally endorsed by European Parliament and entered into force as of November 1, 2022 (following its publication in the Official Journal on October 12, 2022). After entering application on  May 2, 2023, the designation process might last until September and gatekeepers will have up to six months to comply with the requirements in the DMA, at the latest by March 6, 2024.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:112%"&gt;Data Protection  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In relation with Data Protection &amp;amp; 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&#x2019;s annual global turnover of the preceding financial year for breaching the new data protection rules. Spain, Germany and the United Kingdom have adopted implementing measures of this Regulation.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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&#x2019;s annual global turnover of the &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;preceding financial year for breaching new regulation. The Regulation could be adopted in first half of 2023 under the Swedish Presidency.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, on December 13, 2022 European Commission issued a draft Adequacy Decision on a new EU/US Data Privacy Framework. Since European Court of Justice (ECJ) struck down the Privacy Shield framework in July 2020, EU and US have been working on a new framework for transatlantic data flows, especially after Joe Biden&#x2019;s new Administration entered into office. In March 2022, President of the European Commission Ursula von de Leyen and US President Joe Biden announced an &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;agreement in principle&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; for a renewed framework for transatlantic data flows &#x201c;balancing security and the right to privacy and data protection&#x201d;. This political announcement had to be translated into a legal text. For that, on October 7, 2022 President Biden signed an Executive Order addressing the main concerns raised by ECJ in its Judgement on Schrems II Case (namely, new safeguards to limit US LEAs&#x2019; and Intelligence Agencies&#x2019; powers to access personal data of EU citizens and new redress mechanism for non-US persons whose data has been accessed by US Authorities). Taking into account these concrete changes introduced by the Executive Order, European Commission published the draft Adequacy Decision. Commission expects to have the Adequacy Decision adopted by Summer 2023. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Radio spectrum policy &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 14, 2016, the European institutions reached an agreement on how to coordinate the use of the 700 MHz band facilitating the introduction of 5G as of 2020. Duly justified exceptions on grounds defined in Decision 2017/899/CE were allowed until June 30, 2022. But, the assignment processes were finally completed during 2021, with Telef&#xf3;nica securing 2x10 MHz in each of our European markets&#x2019; footprint (Germany, Spain and UK). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The European Electronic Communications Code grants the Radio Spectrum Committee (RSC) the powers to harmonize the use of spectrum bands for the provision of electronic communications services and lays down the rules governing the process through which Member States authorize those bands to specific users. It also mandates Member States to allow the use of sufficiently large blocks of the 3400-3800 MHz band, and at least 1 GHz in the 24,25-27,5 GHz band, in order to facilitate the roll-out of 5G.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Assignment processes have been completed across our European footprint in the 3400-3800 MHz band, with Telef&#xf3;nica securing at least 70 MHz in each market (see table at the end for details).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the 24,25-27,5 GHz band, it is being assigned in Germany through local licences awarded on a first-come-first-served basis. In Spain, a competitive tender took place in December 2022 and Telef&#xf3;nica secured a national licence of 1 GHz. In the UK, Ofcom launched a public consultation in Q2 2022 on how to enable new uses, including 5G, in the 26 GHz band.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Once the harmonization and assignment of the priority bands for 5G (700 MHz, 3500 MHz and 26 GHz) has been nearly completed, the European institutions are beginning the process to identify new bands that in a 2025-2030 horizon may be available for the provision of wireless broadband services. Among the most relevant bands for Telef&#xf3;nica are the 470-694 MHz and the 6425-7125 MHz bands, that will be discussed at the ITU world conference in 2023, and the 3800-4200 MHz band, for which the RSC approved in December 2021 a mandate to the CEPT with a view to its harmonization for local low and mid-power networks. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;EU competition law &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;European competition provisions have the force of law in Member States and, therefore, are applicable to our operations in those States. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Treaty on the Functioning of the European Union (TFEU) prohibits &#x201c;concerted practices&#x201d; 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. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;There are similar competition rules in the legislation of each Member State. Those responsible for ensuring compliance are the national competition authorities. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Spain  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:11pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General regulatory framework  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;T&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;he legal framework for the regulation of the telecommunications sector in Spain is governed by the General Telecommunications Law (11/2022) of June 28, transposing the implementation of the "EECC" into national law.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main licenses and concessions held by Telef&#xf3;nica in Spain are listed at the end of this Appendix VI under the title &#x201c;Main concessions and licenses held by the Telef&#xf3;nica Group&#x201d;.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Market analysis  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The obligations imposed by the national regulator in the most relevant markets in which Telef&#xf3;nica is deemed to have Significant Market Power (SMP) are detailed below.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The EU Commission&#x2019;s delegated act on termination rates entered into force on July 1, 2021 and the approved charges have been amended accordingly:&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Fixed markets  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Wholesale fixed access and call origination market  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica has SMP, the CNMC imposed specific obligations to Telef&#xf3;nica regarding the provision of origination services, preselection and wholesale access service to the telephone line on a cost-oriented bases, and regarding the implementation of an accounting system. Telef&#xf3;nica was imposed, among others, the obligation of no discrimination, transparency and separation of accounts.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Fixed call termination market on individual networks  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica de Espa&#xf1;a, are dominants in terminating fixed networks and, accordingly are obliged to provide call termination service at cost-orientation and non-discrimination  to the rest of operators, according to a purely incremental costs model.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Relevant developments were 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 from January 1, 2021 are 0.0545 euro cents per minute. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Mobile market &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Mobile network call termination &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 2018, the CNMC adopted the final decision where all mobile operators were considered SMP for the call termination in their networks. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;As established by the European Commission&#x2019;s Delegated Act, from January 1, 2022 to December 31, 2022, tariffs amount to 0.55 euro cents per minute. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Wholesale (physical) to network infrastructure access and wholesale broadband access  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On January 18, 2017, the CNMC adopted a Resolution which approved the reference offer of the new wholesale unbundled virtual access service to Telef&#xf3;nica's new broadband Ethernet service (local NEBA). NEBA services allow alternative operators more flexibility to structure their retail offers over Telef&#xf3;nica's fiber network. In March 2018, the CNMC approved the methodology to be used to assess the maximum wholesale access price which Telef&#xf3;nica could charge to other operators for accessing the optical fiber network in regulated areas (NEBA Local and NEBA services), set at 16.68 euros per month. This price is reviewed once a year in order to assess whether Telef&#xf3;nica's retail offers (broadband flagship products) are economically replicable with such price.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica&#x2019;s flagship products was not replicable with existing wholesale access price, encouraging Telefonica to reduce that price in order to restore the economic replicability of all its retail flagship products. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The resolutions from March 2018, July 2018 and November 2020 have been appealed by Telef&#xf3;nica de Espa&#xf1;a.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In July 2018, the CNMC approved the methodology to analyze whether Telef&#xf3;nica&#x2019;s business offers can be replicated by other operators. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 7, 2021, CNMC has completed the the broadband market analysis (1/2020, 3b/2014 markets). The most remarkable aspects stated by CNMC are: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#50535a;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28.18pt"&gt;To expand the competitive area in new generation networks, from 66 to 696 municipalities, which represent the 70.5% where the Spanish population lives. In these areas the obligation to offer a wholesale broadband access service (NEBA) will not be imposed on Telef&#xf3;nica&#x2019;s fiber network.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt"&gt;In the remaining municipalities, CNMC requires Telef&#xf3;nica to provide other operators with a virtual disaggregated access service (local NEBA) and a wholesale broadband access service (NEBA) on its fiber network.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;padding-left:18pt;text-align:justify;text-indent:22.5pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;&#x2022;&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:28pt"&gt;Throughout the whole territory, CNMC has decided to maintain the obligation by which Telef&#xf3;nica must provide wholesale access service to its civil infrastructure (ducts, conduits and poles&lt;/span&gt;&lt;span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;).&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Universal service obligations  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 6, 2023, the Minister for Economic Affairs and Digital Transformation issued the Ministerial Order designating Telef&#xf3;nica de Espa&#xf1;a, S.A.U. as the operator responsible for the provision of the services included in Article 37.1 of the General Telecommunications Law: adequate broadband internet access service at a fixed location with a minimum download speed of 10 Mbps as well as voice communications services at a fixed location. The territorial scope of the designation is the entire national territory and the designation is made for a period beginning at zero hours on February 10, 2023 and ending at zero hours on January 1, 2025&lt;/span&gt;&lt;span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Spectrum &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 22, 2021, Telef&#xf3;nica Espa&#xf1;a acquired a 10 MHz block in the 3.4-3.8 GHz band for 21 million euros. With this spectrum acquisition, Telef&#xf3;nica completes 100MHz which corresponds to the maximum carrier width in the 5G standard. 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, it is expected that the Ministry of Economic Affairs and Digital Transformation will adopt a resolution for the reorganization of the 3.4-3.8 GHz band, during March 2022. Following this resolution, operators will have 6 months to migrate their frequencies. Regarding the 700 MHz band, Telef&#xf3;nica Espa&#xf1;a acquired 2x10 MHz for 310&#160;million euros in the spectrum auction which took place in July 2021. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, Telef&#xf3;nica 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) until 2030.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica was awarded with 5 blocks of 20 MHz for an amount of 20 million euros in the auction of the 26 GHz band that took place on the December 21, 2022 which is expected to be formalized in the first quarter of 2023.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Contribution to RTVE funding  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In August 2009, the Radio and Television Corporation Finance Law (Ley de Financiaci&#xf3;n de la Corporaci&#xf3;n de Radio y Television Espa&#xf1;ola) 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Contributions made to the funding of RTVE were appealed by Telef&#xf3;nica Espa&#xf1;a and Telef&#xf3;nica M&#xf3;viles Espa&#xf1;a. 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The draft Audiovisual Communications General Law includes a provision to withdraw the 0,9% of the invoiced operating income contribution to RTVE funding which would entry in force by January 1, 2023. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Acquisition of Distribuidora de Televisi&#xf3;n Digital, S.A. (DTS)  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Resolution of the CNMC of April 22, 2015 authorized the acquisition of the exclusive control of DTS (Distribuidor Oficial de Televisi&#xf3;n, S.A.) by Telef&#xf3;nica 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 Telef&#xf3;nica 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. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;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 Telef&#xf3;nica could sign is eliminated. In the TV channel commercialization area, the commitment prohibiting Telef&#xf3;nica 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. Telef&#xf3;nica has appealed the decision.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Germany  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General regulatory framework  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The European Union legislative framework was implemented in Germany at the end of June 2004, by the approval of Telecommunications Act (Telekommunikationsgesetz). The Telecommunications Act has been repeatedly amended over the last years, most recently through the transposition of the European Code of Electronic Communications (EECC) into German law with effect from 1 December 2021. The national regulatory authority responsible for regulation of electronic communication networks and services is the Bundesnetzagentur, or BNetzA&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main licenses and concessions held by Telef&#xf3;nica in Germany are listed at the end of this Appendix VI under the title &#x201c;Main concessions and licenses held by the Telef&#xf3;nica Group&#x201d;. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Spectrum &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;With regard to provision of the 800 MHz, 1.8 GHz and 2.6 GHz spectrum expiring end of 2025, BNetzA published points of orientation for consultation by March 21, 2022. In conjunction with this, an initial demand survey was conducted to examine signs of a possible spectrum scarcity. The points of orientation essentially spoke only of an extension and/or an auction as the most probable provision mechanisms. The Telef&#xf3;nica Deutschland Group gave its opinion on the points of orientation by the prescribed deadline. After evaluating the comments submitted, BNetzA published a position paper at the end of September 2022 with an initial opinion on the next steps. BNetzA started from the assumption that there was an obvious spectrum scarcity, based on the results of the initial demand survey. This would be an argument in favor of awarding the spectrum in the form of an auction. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;To ease the demand situation in the 800 MHz band, the position paper proposes a frequency swap to the same extent with the 900 MHz band. The result would be that the 800 MHz frequencies would run until the end of 2033 and the 900 MHz frequencies until the end of 2025. The frequencies at 900, 1,800 and 2,600 MHz would be auctioned off. The Telef&#xf3;nica Deutschland Group commented in due time and advocated again for an extension of the frequencies to be made available through at least 2033. BNetzA intends to make a decision about frequency provision in 2023. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Regarding the coverage requirements resulting from the 2019 frequency auction, the Telef&#xf3;nica Deutschland Group notified the BNetzA at the beginning of January 2023 that it had fulfilled the obligations due at the end of 2022 to cover households and major routes, and to commission 1,000 5G base stations and base stations in 500 white spots, respectively, in line with the obligations.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the coverage requirements resulting from the 2019 frequency auction, the Telef&#xf3;nica Deutschland Group, the Deutsche Telekom Group and the Vodafone Group in July 2021 entered into a cooperation for the joint construction of additional radio towers and masts, as well as their technical support and use. The cooperation is designed to meet coverage obligations, especially for transport routes and in rural areas, where frequency holders are allowed to enter into cooperation agreements to fulfil these obligations. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In November 2021, the Telef&#xf3;nica Deutschland Group concluded an agreement with the Deutsche Telekom Group on active shared network usage at &#x201c;grey spots&#x201d;, which are areas in which only one mobile network operator offers mobile network access to its customers. A similar agreement with the Vodafone Group has been concluded on 25 January 2022. In both cooperation agreements, live operations were launched in the third quarter of 2022 with reciprocal access to the first mobile network sites. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 21, 2021, the Telef&#xf3;nica Deutschland Group entered into a National Roaming Agreement (NRA) with the 1&amp;amp;1 Group (formerly: 1&amp;amp;1 Drillisch Group). With this NRA, the Telef&#xf3;nica Deutschland Group fulfilled one of the EU requirement imposed by the EU Commission arising from the merger of the Telef&#xf3;nica Deutschland Group and E-Plus in 2014. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Market reviews &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The EU Commission&#x2019;s delegated act on termination rates entered into force on July 1, 2021 and the approved charges have been amended accordingly: &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Mobile termination rates (MTR) &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;A glide path applies for the MTR, according to which a charge of 0.70 euro cents per minute will apply from July 1, 2021, decreasing to 0.55 euro cents per minute from January 1, 2022, to 0.40 euro cents per minute from January 1, 2023 and to 0.20 euro cents per minute from January 1, 2024. These charges will apply to all German providers of these services. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Fixed termination rates (FTR) &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;FTRs have been subject to a charge of 0.07 euro cents per minute since July 1, 2021. These charges will apply to all German providers of these services. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;BNetzA consultation and market studies on fiber optic infrastructures  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The BNetzA has identified the existence of significant Germany-wide market power of Telekom Deutschland GmbH on wholesale market 3a (= market for wholesale access provided locally at a fixed location) and still deems it to be in need of regulation. This applies to both the copper network of Telekom Deutschland GmbH and the newly constructed fibre-optic network for the implementation of FTTH. On July 21, 2022, after prior notification to the EU Commission, the BNetzA issued the framework conditions under which charges and other access conditions will be controlled by the BNetzA in future. This relates both to access to the local loop in the copper network, the &#x201c;last mile&#x201d;, and also to virtual unbundled local access (VULA) to the copper and fibre connections of Telekom Deutschland GmbH. In essence, the BNetzA is maintaining its first draft of October 2021.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On October 26, 2022, the BNetzA published a draft decision for wholesale market 3b (= market for wholesale mass market products provided centrally at a fixed location). The draft also stipulates that the copper and fibre-optic infrastructure of Telekom Deutschland GmbH must be regulated, but that in future regulatory obligations will only apply to municipalities with a population of less than 60,000. The regulatory obligations will be lifted in larger municipalities. Otherwise, the remaining regulatory obligations are closely aligned with the requirements for local access to VULA in accordance with the regulatory order on wholesale market 3a&lt;/span&gt;&lt;span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;.&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The BNetzA is maintaining its flexible approach to access to fibre-optic networks. On the one hand, Telekom Deutschland GmbH will be required to grant wholesale customers equivalent access to the FTTH network. However, price regulation measures will not be evaluated in advance. Instead, they will only be considered if there are indications that the conditions of competition for wholesale customers will be impaired. The BNetzA does not consider this to be the case at present.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;United Kingdom  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General legislative framework  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The EU Regulatory Framework was implemented in the United Kingdom by the Communications Act in 2003. The Office of Communications, or Ofcom, is designated as the NRA responsible for the regulation of electronic communications networks and services. Under the terms of the Withdrawal Agreement, the UK implemented the 2020 Electronic Communications and Wireless Telegraphy Regulation (Amendment) (European Electronic Communications Code and EU Exit) which made amendments to the Communications Act, with effect from December 21, 2020, in order to transpose the EECC into UK law.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main licenses and concessions held by Telef&#xf3;nica in the United Kingdom are listed at the end of this Appendix VI under the title &#x201c;Main concessions and licenses held by the Telef&#xf3;nica Group&#x201d;. These licenses are part now of the joint venture with Liberty Global plc (VMED O2 UK Limited) (see Note 2).&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Wholesale price regulation  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Mobile termination rates (MTR)&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Following a market review, mobile termination rates for all mobile providers, including the four national mobile communications operators are subject to controls based on the pure long-run incremental cost approach ("pure LRIC"). In its 2021-2026 price control decisions, Ofcom set a charge control, with the prevailing rate as of April 1, 2022 set at 0.391ppm. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;However, termination rates for calls originating outside the UK to be no more than the reciprocal termination rate charged by the relevant international telecoms provider for a call originating in the UK, or the MCT provider&#x2019;s domestic rate, whichever is the higher. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;MTR caps will be updated annually on April 1, based on inflation (CPI measured for 12 months at December 31, each year) plus X, with X specified as +2.1% (2023); +2.4% (2024) and +1.5% (2025). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"&gt;Fixed termination rates (FTR)  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In the same decision, Ofcom decided to rise by 6.1% to 0.0292 ppm from April 2021. Annual indexation to CPI will apply, but with no &#x201c;X&#x201d; adjustment based on the same time period for CPI. VMO2&#x2019;s current FTR is 0.031ppm from April 1, 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Spectrum  &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Following an agreement between the Government and industry to provide for a &#x201c;Shared Rural Network&#x201d;, the mobile operators, including Telefonica United Kingdom, agreed to amend their 900 and 1800 MHz licences to provide for 88% geographic coverage by 2024 and 90% geographic coverage by 2026.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Ofcom is currently consulting on a future award of 26GHz and 40GHz mmwave spectrum. This process is currently scheduled to take place in 2024.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Brazil  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General legislative framework &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;T&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;he delivery of telecommunications services in Brazil is subject to regulation under the regulatory framework provided in the General Telecommunications Law enacted in July 1997. The National Agency for Telecommunications (Ag&#xea;ncia Nacional de Telecomunica&#xe7;&#xf5;es or ANATEL), is the principal regulatory authority for the Brazilian telecommunications sector. On October 4, 2019, Law 13.879/2019 was published, introducing significant changes to the telecommunications framework.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Brazilian competition regulation is based on Law No. 12529 of November 30, 2011. The Administrative Council for Economic Defense, or CADE, is the agency in charge of enforcing the competition rules. The antitrust law establishes a pre-merger notification regime for concentration transactions, with turnover thresholds (one participant with gross revenue of 750 million Brazilian reals in Brazil and other participant with gross revenue of 75 million Brazilian reals in Brazil) and maximum time length for merger review procedure (240 days, extendable to 330 days).On October 18, 2016, CADE issued the Resolution No 17, which changed the rules concerning the &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;mandatory notification of the so called &#x2018;associative agreements&#x2019;. The new regulation tends to reduce notifications of associative agreements that do not raise antitrust concerns. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Licenses  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main licenses and concessions of spectrum held by Telef&#xf3;nica in Brazil are listed at the end of this Appendix VI.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In the state of S&#xe3;o Paulo, Telef&#xf3;nica Brasil provides fixed telephony services (STFC) under the so-called public regime, through a concession agreement which is expected to remain in force until December 31, 2025. On October 4, 2019, Law 13.879/2019 (resulting from PLC 79/2016) was published. This Law introduces changes to the telecommunications regulatory framework by allowing fixed-line concessions operators to migrate from a concession regime for limited time (in which the underlying assets reverts to the government at the end of the concession) to an authorization regime. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On July 5, 2022, and according to the Law, ANATEL presented a methodology with an estimation of the economic value associated with the migration of the concession regime to authorization, to be validated by the Federal Court of Accounts. After the vote of the rapporteur minister supporting the legality of the methodology presented by ANATEL, it is under analysis by another minister, and should resume to the court's agenda in March. After the final decision by the Federal Court of Accounts about de methodology applied, ANATEL will indicate the final amount for  migrating  the concession instrument for authorization. This final amount, after confirmation and acceptance by Telef&#xf3;nica, will be converted into investment projects not yet defined by ANATEL. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 4, 2021, the Ministry of Telecommunications and ANATEL approved the Resolution No. 744, which adopts the Regulation for the Continuity of the Provision of Fixed Commuted Telephony Service for Use by the General Public ("STFC") under the Public Regime - RCON. This Regulation established that at the end of Telef&#xf3;nica Brazil&#x2019;s STFC concession, the assets belonging to its patrimony (which are used for the provision of multiple services including the STFC under the public regime) will be subject to a contract between the company and the new concessionaire or the Federal Government, to transfer their right of use under fair and reasonable economic conditions.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the assets that are indispensable and exclusively used to ensure the continuity of the provision of STFC under the public regime, will have their possession reverted to the Federal Government through compensation and under the terms of the RCON. It should be noted that these assets constitute residual and decreasing assets of the company's assets&lt;/span&gt;&lt;span style="color:#2b3447;font-family:'Telefonica Sans',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;. &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In this way, the Concessionaire's assets, at the end of the concession contract on December 31, 2025, will not be susceptible to the reversal of its ownership to the Union. The assignment of the use of shared assets and the possession of exclusive assets of the STFC is now defined by means of specific contracts already provided for in the operational manual of the RCON, approved by Decision No. 269/2021/COUN/SCO. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;After the adoption of Resolution No. 744, the obligation to submit a list of reversible assets ("RBR") to ANATEL is merely informative with the objective of maintaining transparency of the assets used by the Concessionaire in the provision of STFC under the public regime.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Nevertheless, it is important to emphasize that in the scope of administrative proceeding TC n&#xba;. 003.342/2022-0, in progress at the Federal Court of Accounts, a technical report stated that the RCON should be reviewed, such understanding shall still be submitted to the court&#x2019;s ruling.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In the other Brazilian states, Telef&#xf4;nica Brasil provides local, international and long-distance STFC, personal mobile service (SMP) and broadband multimedia communication services (which include the provision of fixed broadband connection) and pay TV services, all under the private regime. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On June 17, 2020, the Decree that regulates Law 13,879/2019 was published. The Decree 10,402/2020 allows the renewal of existing licenses. Previously, only a single license renewal was allowed for the same period. Currently, the successive renewals will be made in a competitive process at market price. The renewal amount can be converted, totally or partially, into investment commitments. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding the extension of the 850 MHz band authorizations, if the legal and regulatory requirements are met, ANATEL agreed to extend the current authorizations for the use of radio frequencies in Bands A and B, proposing their approval, on a primary basis, until November 29, 2028. However, specific conditions for renewal, including those related to the economic valuation criteria and obligations, were challenged by the affected service providers (including Telef&#xf3;nica). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;After ANATEL dismissed the appeals filed by the providers, ANATEL referred the case to the federal court of accounts of Brazil (&#x201c;TCU&#x201d;), and in September 2022, TCU decided that the possibility of successive extensions brought by Law 13.879/19 should be considered as an exception, applicable only when certain requirements are met (art. 167 of Law 13.879/19 and article 12 of decree 10.402/20). Telef&#xf3;nica appealed that decision, defending the successive extension of licenses as a rule and not as an exception, in accordance to Law 13.879/19.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, on December 8, 2022, ANATEL revoked Telef&#xf3;nica&#xb4;s 450 MHz spectrum authorization (451 - 458 MHz and 461 - 468 MHz) covering the states of Alagoas, Cear&#xe1;, Minas Gerais, Para&#xed;ba, Pernambuco Piau&#xed;, Rio Grande do Norte, Sergipe and part of S&#xe3;o Paulo. The decision was motivated by the fact that Telef&#xf3;nica could not provide evidence of service activation in the 450 MHz band as a result of the unavailability of  450 MHz devices ecosystem and of the waiver clause contained in the tender notice, interpreted by ANATEL as meaning that the waiver would operate automatically in case of non-activation of the frequency within the contractual term. Previously, on September 2022, ANATEL revoked authorizations held by other providers. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In November 2021, ANATEL held the greatest spectrum auction in its history, with 700 MHz, 2.3 GHz, 3.5 GHz and 26 GHz lots. On that occasion, Telef&#xf3;nica acquired 3.5 GHz and 26 GHz national licenses (100 MHz and 600 MHz bandwidths, respectively). The Company also won regional 2.3 GHz licenses, with 50 MHz bandwidth in Southeast Region (except Sao Paulo state and PGO Sector 3) and 40 MHz bandwidth in Sao Paulo state, North and Midwest Regions (except PGO Sectors 22 and 25). These licenses guarantee the necessary spectrum to provide 5G services and are valid for 20 years, renewable under existing legal conditions at the end of this time.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interconnection, tariffs and prices  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interconnection among public networks is mandatory in Brazil. Generally, parties can freely negotiate the terms and conditions about technical points, economic discounts and rights/obligations, of the interconnection agreements. Interconnection rates for fixed network operators identified as operators with significant market power (SMP) (Resolution No. 588/2012) are defined by ANATEL; the interconnection rates for the use of mobile operators networks (Resolution No. 438/2006), may be agreed between the parties. However, if the parties fail to reach a consensus, particularly regarding charges to fixed operators (Resolution No. 576/2011), ANATEL imposes the rates to be used. The mobile termination market is based on the model of incremental costs and, pursuant to applicable laws, variations in VU-M must be reflected in VC1 (retail price paid by users for local fixed-mobile calls). Regarding VC2 and VC3 (retail price paid by users for national long distance fixed-mobile calls), variations in VU-M no longer need to impact these values, as is still the case of VC1. In March 2020, ANATEL approved Resolution No. 724, which established the Standard for the implementation and monitoring of tariff freedom in the Fixed Telephone Service (STFC) for use by the general public, in the National Long-Distance mode. Since then, the company has been free to determine domestic long-distance fees according to the market. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Telef&#xf3;nica Group, including VIVO, has been identified as an operator with SMP in the following markets: (i) fixed network infrastructure access for data transmission in copper pairs or coaxial cables at speeds up to 12 MBps in the region of S&#xe3;o Paulo; (ii) wholesale fixed network infrastructure to transport local and long distance transmission at speeds up to 34 MBps in the region of S&#xe3;o Paulo; (iii) passive ducts and trenches infrastructure throughout Brazil; (iv) call termination on mobile network in Brazil; (v) national roaming market throughout Brazil.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;ANATEL's Resolution no. 694/2018 in July 2018 changed the PGMC, which, besides others changes, recognized a new relevant wholesale market of high capacity data transport services with speeds higher than 34 Mbps, in which Telef&#xf3;nica is established as SMP throughout Brazil.&lt;/span&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In addition, operators without SMP are no longer entitled to charge fixed termination fees up to 20% higher than the highest fee adopted by fixed operators with SMP in the same region, since the publication of the Resolution no. 694/2018 in July 2018.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Further, ANATEL&#x2019;s Resolution No. 694 of July 17, 2018, changed article 41 of the Appendix II of the General Plan of Competition Goals (PGMC), and established the Bill and Keep between SMP and the non-SMP operators as 50/50%, from February 24, 2018 for the next 4 years, when this might be revised by ANATEL. Accordingly, the VU-M values (in Brazilian reals) for 2022 applicable to Telef&#xf3;nica Brazil are the following: (i) Region I: 0,01422; (ii) Region 2: 0,01550; and (iii) Region 3: 0,02947, nevertheless Telef&#xf3;nica can reach an agreement for higher values. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Regulation on Universal Service &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Currently, only Fixed Switched Telephony Services are subject to universalization obligations. These obligations are established in the General Plan of Universalization Targets (PGMU) and can be reviewed every five years. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Mexico  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General regulatory framework  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In Mexico, the provision of telecommunication services is governed by the Constitution and the Federal Telecommunication and Broadcasting Law (LFTy R), published on July 14, 2014. The Federal Law of Economic Competition published on May 23, 2014, its regulations and the Regulatory Provisions of the Federal Law of Economic Competition for telecommunications and broadcasting published by the Federal Telecommunications Institute on January 12, 2015.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Federal Telecommunications Institute (IFT) is the authority responsible for the regulation, promotion and supervision of the use, development and exploitation of radio spectrum, networks and the provision of broadcasting services and telecommunications, as well as the antitrust authority for broadcasting and telecommunications sectors. Furthermore, on August 26, 2015, a special division on Telecommunications affairs was established by the Consumers Affair Authority to monitor, coordinate, control, substantiate and resolve conciliation, arbitration and infringements, review, modification and grant the use of adhesion contracts in terms of Federal Consumer Act.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The IFT, as the Mexican national authority in communications and broadcasting sectors, declared in 2014 the Am&#xe9;rica M&#xf3;vil Group a preponderant operator in the telecommunications market, imposing specific measures with asymmetric obligations to avoid damaging competition and free market participation. Within these measures are the imposition of a regulated framework interconnection agreement and a set of reference offers for: leasing of dedicated links, access and shared use of passive infrastructure in fixed and mobile networks, MVNOs, roaming and local loop unbundling. In this sense, on November 17, 2016, Telef&#xf3;nica M&#xe9;xico and Am&#xe9;rica M&#xf3;vil Group signed an agreement in order for Am&#xe9;rica M&#xf3;vil to provide the wholesale service of national roaming in the areas where Telef&#xf3;nica M&#xe9;xico might have an interest. Telef&#xf3;nica Mexico and Telcel engaged in successive extensions of this agreement and on June 1, 2018 entered into Telcel's current Reference Offer as well as and an amendment agreement whereby the Offer, the original agreement and the Pricing and Tariff Annex were replaced entirety, which is in force due to the successive agreements reached to date.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 16, 2021, the decree that reforms the Federal Telecommunications and Broadcasting Law was published in Diario Oficial de la Federacion creating the National Register of Mobile Telephony Users (PANAUT), which sought to integrate a database with information on the natural person or legal entity who are holders of mobile lines; including biometric data in order to prevent and attack the crime of extortion.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On April 26, 2022 the Supreme Court of Justice of the Nation declared the total invalidity of the regulatory system that integrates the decree mentioned in the previous paragraph (and therefore the PANAUT), as a result of several unconstitutional actions filed by both the INAI (National Institute of Transparency, Access to Information and Protection of Personal Data) and a group of senators.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Licenses  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Pegaso PCS, S.A. de C.V. (Pegaso PCS) has multiple concessions and licenses for installation and operation of a Public Telecommunications Network to provide telecommunications services and use spectrum for the provision of mobile wireless service nationwide.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica M&#xe9;xico accepted the terms and conditions established by the IFT for the renewal of the 1900 MHz licenses nationwide, which expired in 2018. Notwithstanding the foregoing, on November 21, 2019, Pegaso PCS, S.A. de C.V. notified IFT of the waiver of the totality of its spectrum licenses in four different stages. On December 31, 2020 IFT was informed that the concessions for the 850 and 1900 MHz bands for regions 1, 3 and 4 were returned. Similarly, on December 31, 2021, the IFT was notified the same about the 1900 MHz concessions for regions 5, 6 and 9. Finally on June 30, 2022 the IFT was notified of the return of the remaining spectrum in the 850 and 1900 MHz bands for regions 2, 7 and 8. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Prices and tariffs &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Tariffs charged to customers are not regulated. They are set by companies and must be registered with the IFT, in order to be enforced. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interconnection &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;On November 17, 2020, the IFT published the mobile termination rates (MTRs) applicable to solve any conflicts regarding MTR during 2021, 2022 and 2023. For 2021 MTRs were set, for the Preponderant Economic Agent &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;(Radiom&#xf3;vil Dipsa, S.A. de CV- Telcel-) at 0.018489 pesos per minute, while for the non-preponderant ones they were set at 0.073714 pesos per minute. These rates were calculated using was an LRIC cost model used in the past with new criteria and variables. Since 2018, Telef&#xf3;nica has been challenging the interconnection rate resolutions issued by the IFT based on the inoperability of the cost model authorized by the IFT; notwithstanding this, to date the established rates have been applied. At the end of 2022, the SCJN has not yet resolved the lawsuits filed by Telef&#xf3;nica M&#xe9;xico and other concessionaires during the years 2018 to 2022.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Foreign ownership/restrictions on transfer of ownership  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Since the amendments to the Constitution published in June 2013 foreign investment (FDI) up to one hundred percent in telecommunications is allowed. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Chile    &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General regulatory framework    &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The General Telecommunications Law No. 18168 of 1982, as amended, establishes the legal framework for the provision of telecommunications services in Chile. The main regulatory authority in Chile is SUBTEL (the Under-Secretary of Telecommunications). On February 13, 2014, the Regulation on Telecommunications Services was published and came into force on June 14, 2014, regulating a number of new services as Internet, Pay TV, etc.  &lt;/span&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In May 2014, law No. 20750 allowing the introduction of Digital Terrestrial Television was published in the Official Journal. It set an extensible deadline of five years for the blackout analog. It also set forth that the concessions of free-to-air broadcasting could be nationwide, regional, local and with European coverage.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The principal regulation concerning competition in Chile is Decree No. 211 of 1973, whose current text was established in Law Decree No. 1 of 2005 (Ministerio of Econom&#xed;a, Fomento y Reconstrucci&#xf3;n). The Competition Court deals with infringements of competition law. Law N&#xba;. 20.945 was published on August 30, 2016 increasing the administrative fines up to 30% of the sales relating to the product line or services associated with the infringement during the period in which the alleged infringement took place, or up to the double of the economic profit reached by the infringement.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"&gt;Other relevant laws that have an impact on the operation are Law No. 20,808, published in the Official Gazette on January 28, 2015, which protects the free choice of users in cable, Internet or telephony services, Law No. 21,046 that establishes the obligation of a guaranteed minimum speed of Internet access, published in the Official Gazette of November 25, 2017 and Law No. 21,245, published in the Official Gazette on July 15, 2020 that establishes the obligation to provide the Automatic National Roaming service in certain areas and Law No. 19.496 concerning consumer data protection.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Licenses   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main licenses and concessions to use spectrum are shown in the table at the end of this Annex.   &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, Telef&#xf3;nica Chile has been granted licenses of public local phone services, Voice Over Internet Protocol services, concessions of long distance and concessions to install and exploit the national fiber optic network and mobile satellite. 2.6 GHz and 700 MHz concessions established an obligation for Telef&#xf3;nica M&#xf3;viles Chile to provide a wholesale service to MVNOs, under a non-discriminatory and complete Reference Offer (including prices). This same obligation extends to the new 5G technology recently deployed in its first phase.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 5, 2019, the TDLC notified resolution 59 through which it modified the 60 MHz spectrum cap, establishing percentage caps by macrobands. Against this resolution, claims were filed by some operators and Conadecus, which were partially accepted by the Supreme Court on July 13, 2020, in the sense of: i) maintaining the percentage caps set by the TDLC, with the exception of the low macroband (up to 1 GHz) which went from 32% to 30%, and ii) establishing certain complementary measures to the Mobile Network Operators such as, national mandatory and temporary roaming; or keeping an offer of facilities and resale plans for MVNOs permanently available and updated, among others.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On February 16, 2021, the auction for the 3.5GHz band, initiated in 2020, was completed and Telef&#xf3;nica M&#xf3;viles Chile has been awarded 50MHz. On October 2, 2021, the decree granting the concession to Telef&#xf3;nica M&#xf3;viles Chile in the 3.35-3.40 GHz band was published in the Chilean Official Gazette. From that date, the terms conferred started as follows: (i) 30-year period of the concession and (ii) implementation of the terms for the start of service of the 5G project (12 months for stage 1 and 24 months for stage 2). Telef&#xf3;nica M&#xf3;viles Chile completed the deployment of all base stations corresponding to phase 1 of the 5G project&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Prices and tariffs &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Public telecommunication services prices and prices for intermediate telecommunication services are freely established by operators, unless there is an express resolution by Chile's Competition Court on existing conditions in the market confirming that there is not enough competition. Additionally, maximum prices for interconnection services (access charges for network use, mainly) are subject to tariff regulation for all operators, being set by stipulated procedures.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Ministries set maximum tariffs under efficient operator model basis.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Maximum interconnection tariffs for telephony services are set every five years jointly by the Ministry of Transport and Telecommunications and the Ministry of Economy. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interconnection &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Interconnection is obligatory for all license holders with the same type of public telecommunications services and between telephony public services and intermediate services that provide international long distance services. Every five years, SUBTEL sets the applicable tariffs for services provided through the interconnected networks. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 9, 2019, a new Tariff Decree regarding fixed termination rate was adopted for the 2019-2024 period. The new tariff decree for the period 2019-2024, entered into force retroactively in May 2019 and represents a 65% drop from the previous value to reach a value of 1.3 CLP per minute during normal business hours. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding mobile termination rates, in 2019 a new decree was issued, which will be applicable for the next 5 years, The average tariff which will apply until 2024 was 1.8 CLP per minute (0.0024 euros, without VAT, based on the exchange rate as of February 6, 2019, to be charged on a per second basis). The validity of the new tariff decree starts on January 26, 2019.  In January 2024, the current decree on interconnection tariffs for mobile services will expire, while in May of the same year the current decree on interconnection tariffs for fixed services will expire.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Argentina  &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General regulatory framework  &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The basic legal framework for the provision of telecommunications services in Argentina is set forth in the Law &#x201c;Argentina Digital&#x201d; No. 27078 issued on January 7, 2015. This legal framework declared of public interest the development and regulation of information technology, communications and its associated resources (ICT's). Thus, this law became the specific regulatory regime for the free market, including rules on interconnection, universal service and radio spectrum, and setting out the principles of network neutrality and giving to the technological, informational and communicational companies the possibility of providing broadcasting services (except satellite infrastructure), and setting a single license system. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, the Government approved the Decree No. 267/2015, published in the Official Gazette on January 4, 2016, which amended the Argentina Digital Act creating the National Communication Agency (ENACOM), which is the continuation of the Federal Authority for ICTs (Autoridad Federal de Tecnolog&#xed;as de la Informaci&#xf3;n y las Comunicaciones). &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;By the Decree of Need and Urgency No. 690/2020, it was resolved to amend Law 27078, establishing that Information and Communication Technology Services and Access to telecommunications networks for and among licensees are essential and strategic public services. At the same time, it determined that the prices of ICT essential and strategic public services will be regulated by the authority. Finally, it incorporated mobile communication services as public services. In connection with DNU 690/2020, Telef&#xf3;nica de Argentina, S.A. and Telef&#xf3;nica M&#xf3;viles Argentina, S.A. (collectively, &#x201c;Telef&#xf3;nica&#x201d;) were forced to file a lawsuit against the Argentine State, in connection with a series of contracts for licenses to provide services and spectrum use authorizations entered into between Telef&#xf3;nica and the Argentine State, including the licenses resulting from the 2014 spectrum auction. Such contracts and their regulatory framework provided that the services provided by Telef&#xf3;nica were private and prices would be freely set by Telef&#xf3;nica. The lawsuit filed was dismissed in September 2021 and Telef&#xf3;nica appealed this decision. On December 17, 2021, the first instance ruling was overturned and the scope of articles 1, 2, 3, 5 and 6 of DNU 690/2020 and the resolutions of the National Telecommunications Agency that sought to control tariffs (Resolutions 1666/2020 and 204/2021) and provide for a Mandatory Universal Basic Provision (Resolution 1467/2020) were suspended for six months or until a final ruling is issued. During this period, Telef&#xf3;nica will not be subject to the provisions considered in the DNU 690/2020 in relation to price and public service regulations. On June 10, 2022, the Federal Contentious Administrative Court No. 5 extended by six months the precautionary suspension of the &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;effects of the DNU 690/2020 in favor of Telef&#xf3;nica. On December 27, 2022, the Federal Contentious Administrative Court No. 5 extended for an additional six months the precautionary suspension of the effects of the DNU 690/2020 in  favor of Telef&#xf3;nica. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Furthermore, &#x201c;Law on Defense of Competition&#x201d; No. 27442 prohibits any acts or behaviors contrary to such law and establishes an authority of competition that is pending to be constituted In the meantime, the Secretary of Commerce continues to act, assisted by the National Commission for the Defense of Competition created by Law No. 22262. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Licenses &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main licenses and concessions to use spectrum are shown in the table at the end of this Annex. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Additionally, Telef&#xf3;nica de Argentina has licenses for an indefinite period of time for the provision of communications services; local telephone services; long-distance national and international, telex, international communication and data transfer services; national and international value-added services, and other telecommunication services provided by the different license agreements entered into with the National State, and administrative acts entered into with the National State. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Roaming&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;By means of Law 27.497 (BO 10/01/2019) the Economic Complementation Agreement No.35 between the States part of Mercosur and the Republic of Chile was approved, which includes the Commercial Agreement between the Republic of Chile and the Republic of Argentina by which these countries are obligated to implement the international roaming services in the territory of the other party with the same tariffs or prices they charge for the mobile services in their own country. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Finally, by means of Resolution ENACOM 927/2020, the International Roaming Regime between the Republic of Argentina and the Republic of Chile was approved, establishing as from August 29, 2020, the price for international roaming service between the two countries as a local servic&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Telefonica',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"&gt;e&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Prices and tariffs &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Since the amendment of the Argentine Digital Act by Decree of Need and Urgency No. 690/2020, the licensees may set the prices, which must be fair and reasonable, must cover exploitation costs and aim to an efficient provision and a reasonable operation margin. The authority may regulate the prices for reason of public interest.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On December 21, 2020, the BO published the ENACOM Resolution No. 1467/2020, which regulates the Mandatory Universal Basic Provision (PBU) for fixed and mobile telephone services, internet services and radio broadcasting by subscription through physical or radio links. Both the PBU benefits and the prices are established by the control authority. Only a certain group of persons who are covered by the cases set by the regulation (social plans beneficiaries, unemployed, etc.) may have access to the PBU. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interconnection &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The National Entity of Communications (ENACOM) has the power to control interconnection prices and tariffs, and also to set them in order to the general costs or other compensation mechanism. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Ministry of Modernization issued resolution 286/2018 establishing a new interconnection regulation. Based on this, ENACOM set a local origination or termination rate in the Fixed Telephony Service's networks equivalent to 0.0045 dollars per minute, for the local transit service an interim rate equivalent 0.0010 dollars per minute and for the service of long distance transport an interim rate equivalent to 0.0027 dollars per minute. A rate of 0.0108 dollars per minute applies to local origination or termination services in mobile networks. For all cases, the second was set as the appraisal unit of measurement. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Colombia &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General regulatory framework &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In Colombia there are different agencies responsible for decision-making in the Information Technology and Communications sector (ICT), among them are the Ministry of Information and Communication Technologies (MinTIC), the Communications Regulation Commission (CRC), the National Spectrum Agency (ANE), the Superintendence of Industry and Commerce (SIC). &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Through Law 1341 of July 30, 2009, principles and concepts applicable to Information societies and the Organization of Information and Communications Technologies -ICT- are defined, the National Spectrum Agency is created and other provisions are issued and establishes the general framework for the formulation of public policies in the Information Technology and Communications sector. This Law was amended by Law 1978 of 2019, ICT sector is modernized, the competences are distributed and a single regulator is created, with the purpose of encouraging investment in the sector and focus on connectivity, creating more and better services, as well as unifying the regulatory framework and strengthening public television and radio. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Likewise, article 10 of Law 1341 of 2009 establishes the general rating regime for the provision of telecommunications networks and services, this rating is understood to be formally assorted, when the interested party is registered in the ICT register, provided by Article 15 of the abovementioned Law, in the same way. With the reform of this Law carried out with the Law 1978 of 2019, the subscription television service is included as provision of telecommunications networks and services and by virtue of the provisions of the transition regime established by such last mentioned regulation, the operators that to date of its publication, had concession contracts for the provision of television can qualify for general authorization and provide services in an environment of technological neutrality. In addition, telecommunication services continue to be public services in charge of the State, and Internet access has been declared an essential public service by Law 2108 of 2021. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Also, in accordance with the provisions of Article 11 of the Law 1341 of 2009, the use of the spectrum requires prior, express and granted permission by the MinTIC. As of 2019, with the amendment of Article 8 of the Law 1978, the validity of the use permit is extended of spectrum and its renewal from 10 to 20 years. The regulation provides that the granting or renewal of the permit to use a segment of the radio spectrum will result in payment, in favor of the Information and Communications Technology Fund and in charge of the permit holder. With the amendment of 2019, this consideration may be partially paid, up to 60% of the total amount, through the execution of obligations to do, to expand the quality, capacity and coverage of the service, which benefits the poor and vulnerable population, or in remote areas, in public schools located in rural areas and other official institutions such as health centers and public libraries, as well as providing emergency networks. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On the other hand, the Colombian competition law is included in Law No. 155/1959, Decree No. 2153/1992 and Law No. 1340/2009 on restrictive trade practices.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Licenses &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main concessions and licenses for spectrum use are reflected in the table, at the end of the Annex. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telefonica applied in 2021 for the renewal of the permit for 15 MHz of spectrum in the 1900 MHz band, which was valid until October 18, 2021. For the renewal, on October 19, 2021 the MinTIC issued the resolution 2803 setting the price of renewal for 20 years. Telef&#xf3;nica appealed this resolution and the Ministry resolved, through Resolution 2143 of 2022, to decrease the renewal cost and eliminate the technological update obligations considered in the resolution of October 2021.  Telef&#xf3;nica filed a request for direct revocation of the Resolution 2143, which was denied through Resolution 4454 of 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In Colombia, a Spectrum Auction Action Plan was published in December 2022 which announced that the conditions for the renewal of spectrum permits to expire in 2023 and 2024 will be defined and actions will be taken to carry out auctions of the remaining spectrum in the 700 MHz, 1900 MHz and 2500 MHz bands, and the 3.5 GHz and 26 GHz 5G bands, indicating that the assignment process would be carried out in the third quarter of 2023. In development of this, Min Tic published a resolution inviting parties to express interest in participating in the Auction Process for the granting of permits for the use of radio spectrum in the three aforementioned bands and adding to the process the 3.5GHz and 26GHz bands with the following amounts of spectrum available: 10MHz of 700 MHz and 1900MHz, 30 MHz in the 2500MHz band, 400 MHz in the 3500MHz band and 2.8 GHz in the 26 GHz band. An important change is that the ICT Ministry in 2022 modified the maximum spectrum caps for Telecommunications Networks and Services provider for use in terrestrial mobile services (IMT). The caps were set at 50 MHz for the low &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;bands (below 1 GHz), 100 MHz for the medium bands (between 1 GHz and below 3GHz) and 100 MHz for the high medium bands (between 3 GHz and 6 GHz). In the expression of interest Telef&#xf3;nica stressed, among other points, the importance of an adequate spectrum pricing policy, transparency in valuation methodologies, an adequate framework to correct the problems of dominance in the mobile market and the elimination of barriers.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Finally, although Telef&#xf3;nica is in favor of increasing the spectrum caps, has requested additional measures to avoid resource monopolization by the dominant operator.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interconnection &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Mobile and fixed operators in Colombia have the right to interconnect to other operators&#x2019; networks. Before the intervention of regulatory authorities, operators must attempt direct negotiations. Interconnection must assure compliance with the objectives of non-discriminatory treatment, transparency, prices based on costs plus a reasonable profit and promotion of competition. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In February 2022 the CRC published Resolution 6522 of 2022 whereby some provisions related to the access, use and interconnection of telecommunications networks are modified, modifying the signaling conditions by introducing the mandatory use of the SIP protocol in at least one node of the network;  access conditions on the part of content and application providers (PCA) or Technology Integrators for the provision of content, some articles were modified regarding user protection with regards to sending SMS and USSD for commercial and advertising purposes, and establishing new obligations for assignees of short codes, the content of the Basic Interconnection Offer (OBI) was also changed with regards to the guarantees, establishing the option of prepayment and the obligation to update them.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In December 2022 the CRC issued Resolution 7007 which modifies the remuneration conditions for mobile services as of January 2023. The charges for termination in mobile networks, termination of text messages, and the remuneration of National Automatic Roaming and OMVs are reduced.  Bill and Keep will apply on remuneration of termination in mobile networks and SMS from May 1, 2025; it does not apply to the use of mobile networks by technology integrators, PCAs and international long distance providers. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Prices and tariffs &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The Technologies of Information and Communications Law provides for a free pricing system for communication services, unless there are market failures or quality problems. From 2016 retail tariffs for fix to mobile calls are no longer regulated except for TIGO (one of the commercial names under which Colombia Movil operates) which still holds concession for the provision of personal communication services (PCS's). &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Peru &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;General regulatory framework &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The provision of telecommunications services in Peru is governed by the Telecommunications Law, its General Regulation and related regulations. In July 2012, the Peruvian Congress approved the Law of Promotion of the Broad Band and Construction of the National Fiber Optic Backbone, Law No. 29904. This Law declared both (i) the construction of a National Fiber Optic Backbone available to the government to make possible the connectivity by the broad band; and (ii) the access and use of the infrastructure associated with the public services of energy and hydrocarbon to facilitate the display of the telecommunication network for the provision of the broad band of public necessity. In addition, Law No. 29904 implied that operators of electric, transport and hydrocarbon infrastructure projects would have to install fiber optic that would be available to the government and given in concession to telecommunication operators. Also, this law established that a percentage of the capacity of the National Fiber Optic Backbone would be reserved to the government to satisfy its necessities. Additionally, this Law incorporated the obligation of the Internet services providers to comply with the Net Neutrality regulations. In this sense, the NRA, the Organismo Supervisor de las Telecomunicaciones (OSIPTEL), adopted regulations aimed at providing clear guidelines on the implementation of the net neutrality regime adopted in Peru in 2012 that are in force since January 1, 2017. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Law No. 30083 was approved in September 2013, which seeks to strengthen competition in the public mobile market service by introducing MVNOs and mobile rural infrastructure operators (MRIO). Regulations developing the Act were published in August 2015. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The general competition framework in Peru is based on the Legislative Decree No. 1034. This Law it is applied, in the telecommunication sector, by OSIPTEL. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;In November 2019, the government approved the Prior Control of Business Concentration Operations, applicable for those mergers, acquisitions, constitution of joint ventures or the acquisition of productive assets of economic agents that produce effects that restrict competition in the National territory. This regulation shall enter into force in March 2021. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Licenses &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The main licenses and concessions to use spectrum are shown in the table at the end of this Annex. &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Telef&#xf3;nica del Per&#xfa; S.A.A faces seven concession renewal processes which correspond to requests made between 2014 and 2020, all of them are pending of decisions on the part of the Ministry of Transportation and Communications (&#x201c;MTC&#x201d;). These concessions, according with Peruvian legislation, remain valid while the proceedings are still ongoing.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;One of these renewal processes corresponds to the fourth gradual renewal of the concessions for the provision of fixed telephony services, which must be reevaluated as Telef&#xf3;nica del Per&#xfa; S.A.A won the arbitration process against the MTC&#xb4;s decision to deny this renewal.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The cable distribution broadcasting service concessions were renewed in May 2016 until March 2032 and 2033, respectively.  &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On November 2020, the Ministry of Transportation and Communications granted Pangeaco, S.A.C. concession for the provision of telecommunications public services for a 20-year term, renewable. This Group company was created in March 2020 in order to provide all kind of telecommunications services, as well as to acquire, have and exploit telecommunications infrastructure. The company signed on January 15, 2021 the respective concession contract.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Regarding to the auction on the 1,750 - 1,780 MHz, 2,150 - 2,180 MHz, and 2,300 - 2,330 MHz bands, Telef&#xf3;nica del Per&#xfa; S.A.A. was preselected for the 2022 auction, which was suspended. The process was restarted at the beginning of January 2023, and it is expected that the spectrum will be awarded by the end of the first half of 2023.  With regards to 5G, and the spectrum auction for the 3.5 GHz and 26 GHz band, no decision has been taken as of yet. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Wholesale regulation for Major Suppliers &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;OSIPTEL reviews the markets identified as priority (fixed Internet, mobile, pay TV and circuits) every 3 years in order to determine the existence of major suppliers (companies with market power) in such markets and to impose obligations such as infrastructure sharing and services resale. On June 17, 2021, OSIPTEL resolved to declare Telef&#xf3;nica del Per&#xfa; S.A.A. and its Economic Group in the country as an important provider in the wholesale Pay TV market in 10 regional markets. Telef&#xf3;nica del Per&#xfa; S.A.A. won an appeal for reconsideration against this decision, eliminating the obligation of sharing/reselling content.&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Prices and tariffs &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;Tariffs for fixed local telephony and long distance services are adjusted every three months considering services baskets, pursuant to a price cap formulae from inflation and a productivity and must be approved by OSIPTEL in accordance with a price cap formula based on a productivity factor. Rates charged by mobile providers to their customers have been subject to a free tariff regime supervised by OSIPTEL. Tariffs must be reported to OSIPTEL prior to implementation. On 2011, OSIPTEL approved a new price cap system by which the operators of fixed services determine the rates of the local fixed-mobile calls. Such rate is adjusted every time there is an adjustment mobile interconnection rate. On June 17, 2022, OSIPTEL adjusted the rate applicable to local calls made from Telef&#xf3;nica del Per&#xfa; S.A.A.&#x2019;s fixed telephones to mobile networks in PEN 0.0006 per second without IGV. Said rate entered into force on June 19, 2022. In the 2022 adjustment, the level of the ceiling rate was maintained.&lt;/span&gt;&lt;span style="color:#50535a;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Interconnection &lt;/span&gt;&lt;span style="color:#006476;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;On May 3, 2022, OSIPTEL published the amendment of the MTR, at 0.00129 U.S. dollars per minute rated at the second, which is applicable as of May 4, 2022 and applies to all mobile service operators. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"&gt;Main concessions and licenses held by the Telef&#xf3;nica Group &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following tables list the concessions and licenses as at December 31, 2022 to use spectrum for mobile services and selected other applications in each country. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.322%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.565%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.568%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;EUROPE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Frequency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bandwidth (MHz)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year of Exp. Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2031&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2038&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2038&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;United Kingdom (5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2300&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2040&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2040&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Initial term until 1 December 1, 2041, can be extended for 20 additional years. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Initial term until 2020, extended concession until April 18, 2030. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(3)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses in Madrid and Melilla. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(4)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; National license excluding 2 regions (Madrid and Melilla). &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(5)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"&gt; These licenses are part of the joint venture with Liberty Global plc (VMED O2 UK Limited).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.357%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.565%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.569%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;BRAZIL &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Frequency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bandwidth (MHz)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year of Exp. Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2029&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023-2035&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30-65&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023-2035&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30-60&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2300&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40-50&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2500&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40-60&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027-2031&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHZ&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Expiration date accounts for initial term of 15 years for 450, 700, 2100 and 2500 MHz bands, another 15 years extension are contemplated in these licenses. In 2300 MHz, 3.5 and 26 GHz the initial term is 20 years, with additional 20 years extension. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional codes are included in Annex 1. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(3)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Except regions 2', 4', 6', 7', 7&#x2019;&#x2019; and 10. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(4)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses second term expiring in different dates. Concession extended until 2028.  &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(5)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses of 5 MHz or 10 MHz. Not in regions 1 and 10. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(6)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses: second term expiration and renewal dates are dependent on the region.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(7)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses between 30 MHz and 65 MHz.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(8)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 40 MHz national license, plus Band P (20 MHz) in some areas. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(9)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; The initial term of Band X will expire in 2027 and Band P will expire in 2031. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(10)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 30 MHz in some regions. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(11)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses: 40 MHz in North, SP and CO; 50 MHz in RJ, ES e MG.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.391%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.336%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:3.803%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:40.058%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.313%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.441%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;HISPANOAM&#xc9;RICA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Frequency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bandwidth (MHz)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year of Exp. Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (AMBA)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Sur)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (AMBA)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Norte)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Sur)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2035&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2045&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2032&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2043&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2038&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2051&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;450&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2036&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Lima and Callao)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Rest of provinces)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Lima and Callao)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Rest of provinces)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2037&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024/2047&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2045&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Venezuela&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2029&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Covering 65% of the population.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Fixed Wireless Access licenses 25+25 MHz in 23 localities with indefinite term (Res. SC 10160/1999, including AMBA region). &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(3)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 10MHz sold in 2021 as a result of the &#x2018;Subtel&#x2019; (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. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(4)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Only in Metropolitan Region. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(5)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Renewed for 20 years. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(6)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Provinces of Lima and Callao: expiration date of March 2030; rest of provinces in December 2030. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(7)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; In process of renewal. Extension requested on May 30, 2016. According to the regulation, the license maintains its validity until the Ministry of Transport and Communications decides over the request presented. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(8)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 10 MHz expires in 2024; 10 MHz has been renewed for 25 years until in 2047. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(9)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Renewed for 5 years. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(10)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"&gt; Available for Fixed Wireless Access licenses.&lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="margin-bottom:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:174%"&gt;Telef&#xf3;nica seeks&#160;to use its spectrum in the most efficient way, implementing 5G and LTE-Advanced where possible. &lt;/span&gt;&lt;/div&gt;Besides the spectrum assets included in the above tables, Telef&#xf3;nica owns other assets of spectrum used for other services in higher frequency ranges (above 6 GHz), including access transport.</ifrs-full:DisclosureOfServiceConcessionArrangementsExplanatory>
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    <tef:RegulationsOnDigitalServicesPossibleFineOnTotalWorldwideTurnoverFirstOffense
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      decimals="INF"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0OTEz_ad766240-63dd-45a6-8046-4f40e9403013"
      unitRef="number">0.30</tef:RegulatoryOperationsPercentageofIncreaseinAdministrativeFines>
    <tef:RegulatoryOperationsPeriodofApplicableTariffsforServicesProvided
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzQ0OTgx_e9eedce3-4339-4f67-b344-809963241bce">P5Y</tef:RegulatoryOperationsPeriodofApplicableTariffsforServicesProvided>
    <ifrs-full:DisclosureOfDetailedInformationAboutServiceConcessionArrangementsExplanatory
      contextRef="ia295f6c58d104c5da6d2d09d5f1c6f64_D20220101-20221231"
      id="id3VybDovL2RvY3MudjEvZG9jOjJhZDYxOWYwMzJiMjQzNTY4MGIzZjY0ODZkMTAwMDE4L3NlYzoyYWQ2MTlmMDMyYjI0MzU2ODBiM2Y2NDg2ZDEwMDAxOF8zODgvZnJhZzo3MGY3NDBhYjUyOGE0MDBjYWQzYzk2N2U1YTc3MmFmOS90ZXh0cmVnaW9uOjcwZjc0MGFiNTI4YTQwMGNhZDNjOTY3ZTVhNzcyYWY5XzY0ODI1_1c7947d8-640f-491f-bab7-eec5eec3b3d2">&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"&gt;The following tables list the concessions and licenses as at December 31, 2022 to use spectrum for mobile services and selected other applications in each country. &lt;/span&gt;&lt;/div&gt;&lt;div style="margin-top:9pt;text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:32.917%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:6.378%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:7.697%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.322%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.565%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.568%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;EUROPE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Frequency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bandwidth (MHz)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year of Exp. Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Spain&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2031&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;29.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2038&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2038&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;United Kingdom (5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;34.8&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;11.6&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2300&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Germany&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;800&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;14.2&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2040&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2025&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;70&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2040&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Initial term until 1 December 1, 2041, can be extended for 20 additional years. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Initial term until 2020, extended concession until April 18, 2030. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(3)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses in Madrid and Melilla. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(4)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; National license excluding 2 regions (Madrid and Melilla). &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(5)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"&gt; These licenses are part of the joint venture with Liberty Global plc (VMED O2 UK Limited).&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.357%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:4.618%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:8.870%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:15.468%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.565%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:24.853%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:2.569%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;BRAZIL &lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline"&gt;(1)(2)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Frequency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bandwidth (MHz)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year of Exp. Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2029&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;5-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023-2035&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1800&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30-65&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023-2035&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2100&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30-60&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2300&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40-50&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(11)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2500&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:top"&gt;&lt;div style="text-align:right"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40-60&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027-2031&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;100&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;26&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHZ&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;600&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Expiration date accounts for initial term of 15 years for 450, 700, 2100 and 2500 MHz bands, another 15 years extension are contemplated in these licenses. In 2300 MHz, 3.5 and 26 GHz the initial term is 20 years, with additional 20 years extension. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional codes are included in Annex 1. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(3)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Except regions 2', 4', 6', 7', 7&#x2019;&#x2019; and 10. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(4)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses second term expiring in different dates. Concession extended until 2028.  &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(5)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses of 5 MHz or 10 MHz. Not in regions 1 and 10. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(6)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses: second term expiration and renewal dates are dependent on the region.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(7)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses between 30 MHz and 65 MHz.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(8)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 40 MHz national license, plus Band P (20 MHz) in some areas. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(9)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; The initial term of Band X will expire in 2027 and Band P will expire in 2031. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(10)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 30 MHz in some regions. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(11)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Regional licenses: 40 MHz in North, SP and CO; 50 MHz in RJ, ES e MG.&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.391%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:21.336%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:3.803%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:40.058%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:9.449%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:13.313%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:5.441%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;HISPANOAM&#xc9;RICA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="6" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Frequency&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:center;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Bandwidth (MHz)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Year of Exp. Date&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Argentina&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (AMBA)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Sur)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (AMBA)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Norte)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Sur)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2035&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(1)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(2)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Chile&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2045&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Indefinite&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2032&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(3)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2043&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (TDD)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;12&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2038&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(4)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2051&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Colombia&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;15&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2041&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(5)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Ecuador&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;60&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2023&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Peru&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;450&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2036&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(6)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Lima and Callao)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;10&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;900&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Rest of provinces)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;16&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2028&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Lima and Callao)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2030&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz (Rest of provinces)&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2018&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(7)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Uruguay&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;700&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;30&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2037&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2024/2047&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(8)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2033&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:0 1pt"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2045&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Venezuela&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;850&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:1pt solid #7c877c;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;25&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:1pt solid #7c877c;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1900&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;1700&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz/2100 MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;20&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2027&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(9)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2600&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MHz &lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;40&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2029&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:0.25pt solid #bfbfbf;padding:0 1pt"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;3.5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GHz&lt;/span&gt;&lt;/td&gt;&lt;td colspan="2" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;50&#160;&lt;/span&gt;&lt;/td&gt;&lt;td style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;2026&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:1pt solid #7c877c;border-top:0.25pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;(10)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(1)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Covering 65% of the population.  &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(2)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Fixed Wireless Access licenses 25+25 MHz in 23 localities with indefinite term (Res. SC 10160/1999, including AMBA region). &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(3)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 10MHz sold in 2021 as a result of the &#x2018;Subtel&#x2019; (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. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(4)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Only in Metropolitan Region. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(5)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Renewed for 20 years. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(6)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Provinces of Lima and Callao: expiration date of March 2030; rest of provinces in December 2030. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(7)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; In process of renewal. Extension requested on May 30, 2016. According to the regulation, the license maintains its validity until the Ministry of Transport and Communications decides over the request presented. &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:justify"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(8)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; 10 MHz expires in 2024; 10 MHz has been renewed for 25 years until in 2047. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:174%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(9)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:174%"&gt; Renewed for 5 years. &lt;/span&gt;&lt;/div&gt;&lt;div&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:112%;position:relative;top:-2.44pt;vertical-align:baseline"&gt;(10)&lt;/span&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:112%"&gt; Available for Fixed Wireless Access licenses.&lt;/span&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutServiceConcessionArrangementsExplanatory>
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1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amap&#xe1;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AM&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Amazonas&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Bahia&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Ceara&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DF&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Distrito Federal&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ES&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Esp&#xed;rito Santo&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Goi&#xe1;s&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Maranh&#xe3;o&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MT&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mato Grosso&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Mato Grosso do Sul&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Minas Gerais&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PA&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Par&#xe1;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PB&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Para&#xed;ba&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Paran&#xe1;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Pernambuco&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PI&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Piau&#xed;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RJ&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rio de Janeiro&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RN&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rio Grande do Norte&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rio Grande do Sul&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Rond&#xf4;nia&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RR&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Roraima&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SC&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Santa Catarina&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;S&#xe3;o Paulo&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SE&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Sergipe&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TO&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;Tocantins&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:right;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:100%"&gt;&#160;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.453%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:64.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Regions&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;States &amp;amp; towns&lt;br/&gt;included in the regions&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP (City)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP (Interior)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP -&#160;&#160;towns of sector 33 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RJ and ES&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG -&#160;&#160;towns of sector 3 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR and SC&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR - towns of sector 20 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS - towns of sector 30 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AC, DF, GO, MS, MT, RO and TO&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7'&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GO - towns of sector 25 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7''&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS - towns of sector 22 of the GPLG&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AM, AP, MA, PA and RR&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BA and SE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AL, CE, PB, PE, PI and RN&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"&gt;&lt;tr&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:33.453%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;td style="width:1.0%"/&gt;&lt;td style="width:64.347%"/&gt;&lt;td style="width:0.1%"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;Sectors&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;GPLG -&#160;&#160;general plan of the licenses granted&#160;&#160;(geographic areas that correspond to the sectors)&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;1&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:2pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RJ&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;2&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG - except towns included in sector 3&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;3&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MG - towns of&#160;&#160;Arapor&#xe3;, Ara&#xfa;jo, Campina Verde, Campo Florido, Campos Altos, Can&#xe1;lopis, Capin&#xf3;polis, Carmo do Parana&#xed;ba, Carneirinhos, Centralina, Comendador Gomes, Concei&#xe7;&#xe3;o das Alagoas, C&#xf3;rrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhat&#xe3;, Ibiraci, Igaratinga, Iguatama, Indian&#xf3;polis, Ipia&#xe7;&#xfa;, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Par&#xe1; de Minas, Patos de Minas, Pedrin&#xf3;polis, Pequi, Perdig&#xe3;o, Pirajuba, Pitangui, Planura, Prata, Presidente Oleg&#xe1;rio, Rio Parana&#xed;ba, Santa Juliana, Santa Vit&#xf3;ria, S&#xe3;o Francisco de Sales, S&#xe3;o Jos&#xe9; da Varginha, Tupaciguara, Uberaba, Uberl&#xe2;ndia, Uni&#xe3;o de Minas &amp;amp; Vazante&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;4&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;ES&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;5&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;BA&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;6&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;7&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AL&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;8&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;9&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PB&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;10&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RN&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;11&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;CE&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;12&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PI&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;13&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MA&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;14&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PA&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;15&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AP&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;16&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AM&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;17&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RR&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;18&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SC&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;19&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR &#x2013;except&#160;&#160;towns included of sector 20&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;20&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;PR &#x2013; towns of Londrina and Tamarana&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;21&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS &#x2013; except the town integrating of sector 22&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;22&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MS &#x2013; town of Parana&#xed;ba&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;23&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;MT&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;24&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;TO and GO &#x2013; except&#160;&#160;towns included in sector 25&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;25&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;GO &#x2013; towns of Buriti Alegre, Cachoeira Dourada, Inaciol&#xe2;ndia, Itumbiara, Paranaiguara and S&#xe3;o Sim&#xe3;o&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;26&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;DF&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;27&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RO&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;28&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;AC&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;29&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;30&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;RS &#x2013; towns of Pelotas, Cap&#xe3;o do Le&#xe3;o, Morro Redondo and Turu&#xe7;u&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;31&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP &#x2013; except the towns included in sector 33&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:bottom"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%"&gt;33&lt;/span&gt;&lt;/td&gt;&lt;td colspan="3" style="border-bottom:2pt solid #bfbfbf;border-top:1pt solid #bfbfbf;padding:2px 1pt;text-align:left;vertical-align:middle"&gt;&lt;span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"&gt;SP &#x2013; towns of Altin&#xf3;polis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, C&#xe1;ssia dos Coqueiros, Col&#xf4;mbia, Franca, Gua&#xed;ra, Guar&#xe1;, Ipu&#xe3;, Ituverava, Jardin&#xf3;polis, Miguel&#xf3;polis, Morro Agudo, Nuporanga, Orl&#xe2;ndia, Ribeir&#xe3;o Corrente, Sales de Oliveira, Santa Cruz da Esperan&#xe7;a, Santo Ant&#xf4;nio da Alegria and S&#xe3;o Joaquim da Barra&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</tef:ScheduleOfAcronymsForSpectrumPortfolioTableTextBlock>
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/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
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}

..report table.authRefData a {
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}

..report table.authRefData .hide {
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}

..report table.authRefData .hide a:hover {
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}

..report table.authRefData .body {
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}

..report table.authRefData table{
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}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
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M!39\2 P/*\[ZC?>?[^:X%L;_KY);K"98^NNC3?<S'^W9<+<EOT>SO6_)6S :
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
